JJG’s Outline of Bitcoin Investment Ideas

[ultrloa]

Health concerns have to do with timeline and ability to enjoy, so if a person had spent 30-40 years or more building wealth.. and yeah, presumptively a person who is 90 might have spent 70 years building.. and I am not even sure if it is realistic to presume that he is still building rather than liquidating or engaging in sustainable withdrawal.. so even a guy who is 70- years old may well have had entered into liquidation and sustainable withdrawal rather than still building his investment.

Of course if a guy is starting at completely zero investments and he is 70, then his timeline of 4-10 years or more would be one of his individual factors that he would have to take into account, and yeah, building bitcoin between 70 and 74 might work for some guys... and then a 4 year timeline to cash out, maybe?

In my opinion…. the number of old folks to show interest in accumulating bitcoin will be very low. Because at that age, I doubt if they have any ambition or see reason to accumulate bitcoin; compared to young folks. Imagine someone that has been working his whole life until 70 yrs; he might not see bitcoin investing as something he needs to pursue at that age, especially with the uncertainty that comes with it and life expectancy. Even if he has no investment on ground before, he may choose to just relax and enjoy the remaining years with his savings.

They might not feel about needed to start their accumulation as early as they can, since at that age priorities may came different. But for some other old people,  they choose  to invest to preserve their wealth, combat inflation or to have some good asset to use for inheritance.

Bitcoin is flexible and I think old people look at it as their legacy tool or something they can use to fight inflation.

Life expectancy is maybe short and that 4 year cycle or timeline can actually work with oldies, if they still choose to invest on Bitcoin.

[ejikeme24]

~snip~

In my opinion…. the number of old folks to show interest in accumulating bitcoin will be very low. Because at that age, I doubt if they have any ambition or see reason to accumulate bitcoin; compared to young folks. Imagine someone that has been working his whole life until 70 yrs; he might not see bitcoin investing as something he needs to pursue at that age, especially with the uncertainty that comes with it and life expectancy. Even if he has no investment on ground before, he may choose to just relax and enjoy the remaining years with his savings.

I think it all depends on the situation of an older person, as for those that has children definitely they will see reasons to accumulate bitcoin because even if they are no more their children is there to continue with the investment. And yeah those that doesn't have children may not see reasons to accumulate Bitcoin given that they don't have someone that would manage and / or continue from where they stopped if eventually they didn't make it up to that timeline they planned that Their investment will get to before they will look into selling to take profit, just as JJG said in his previous comment that someone that has gotten to the age of 70 may well invest in Bitcoin rather; they will have to reduce Their investment timeline for like 4 years. and sure, this timeline is a bit closer but 5 years is a bit far especially for people in that age but I believe some old people can make it up and Still add more to it but since they are not sure about when the unknown "death" will happen, it's wise to set Their target in such a way that they can start enjoying their investment even though they didn't enjoy it to the fullest.

[Barikui1]

I think it all depends on the situation of an older person, as for those that has children definitely they will see reasons to accumulate bitcoin because even if they are no more their children is there to continue with the investment. And yeah those that doesn't have children may not see reasons to accumulate Bitcoin given that they don't have someone that would manage and / or continue from where they stopped if eventually they didn't make it up to that timeline they planned that Their investment will get to before they will look into selling to take profit, just as JJG said in his previous comment that someone that has gotten to the age of 70 can invest can invest in Bitcoin rather; they will have to reduce Their investment timeline for like 4 years.

I believe that someone in his seventies or above should have been accumulating or investing when he was way younger, so from that 70 years is when he should be doing a sustainable withdrawal of his Bitcoin investment, not looking to start his investment journey. But as you have said already, if someone wants to invest in Bitcoin and he in his seventies already, he can still do so, but he should not invest and hold more than a circle, unless he intended doing it for his offspring,  because at that age he is closer to the end of his life, that is why he cannot keep a long term target like the younger investors.

[Grease5000]

~snip~

In my opinion…. the number of old folks to show interest in accumulating bitcoin will be very low. Because at that age, I doubt if they have any ambition or see reason to accumulate bitcoin; compared to young folks. Imagine someone that has been working his whole life until 70 yrs; he might not see bitcoin investing as something he needs to pursue at that age, especially with the uncertainty that comes with it and life expectancy. Even if he has no investment on ground before, he may choose to just relax and enjoy the remaining years with his savings.

Age alone should not be use  determine whether someone should accumulate Bitcoin. Imagine a 70 year old man who has worked all his life and has enough savings to take care of himself. He may not need bitcoin at all, and I respect that. But another man of the same age may want to preserve some wealth for his children and grandchildren. Bitcoin could interest him for that reason.

I think  the important thing is knowing the purpose of the investment. And someone who may need the money for medical bills or daily expenses is not advised to invest it in bitcoin rather it is adviseable to only discretionary income when investing.

Lastly  Bitcoin is not only about how long you have left to live, but also about what you want your money to do for you.

[ChocolateBitcoinK]

I think it all depends on the situation of an older person, as for those that has children definitely they will see reasons to accumulate bitcoin because even if they are no more their children is there to continue with the investment. And yeah those that doesn't have children may not see reasons to accumulate Bitcoin given that they don't have someone that would manage and / or continue from where they stopped if eventually they didn't make it up to that timeline they planned that Their investment will get to before they will look into selling to take profit, just as JJG said in his previous comment that someone that has gotten to the age of 70 can invest can invest in Bitcoin rather; they will have to reduce Their investment timeline for like 4 years.

I believe that someone in his seventies or above should have been accumulating or investing when he was way younger, so from that 70 years is when he should be doing a sustainable withdrawal of his Bitcoin investment, not looking to start his investment journey. But as you have said already, if someone wants to invest in Bitcoin and he in his seventies already, he can still do so, but he should not invest and hold more than a circle, unless he intended doing it for his offspring,  because at that age he is closer to the end of his life, that is why he cannot keep a long term target like the younger investors.

If someone is thinking about building wealth after reaching the age of seventy, they may have less time than a young person. A young person may have decades to live. But it may not be realistic for a seventy-year-old to plan for the same time frame. So it is natural for there to be some differences in investment strategies and money management plans after reaching retirement age.
Most people will not start investing in Bitcoin at the age of seventy. If they have a regular pension, rental income, business income, or other reliable source of income and have enough money left over after meeting daily expenses, they may decide to invest a small portion of that surplus money in Bitcoin.

The important thing is to see age as a consideration when determining the investment horizon. Not as a final decision. Whether it is reasonable for someone in their seventies to wait for a full Bitcoin market cycle will depend on when the money will be needed and how much risk they can take.
The sooner you start saving or investing the more time you will have to build wealth. So it is better to start financial planning from a young age. There is no need to discourage someone from starting investing at a later stage of life. Realistic plan should be made according to his current financial situation, savings and investment objectives. Age is important in investing. But more important than age is whether he has the financial capacity to take risks in investing.

[RockBell]

Bitcoin investment is not impossible neither is it rosey because sometimes one will encounter challenges  that can even pose a threat on their Bitcoin investment even to the point of trying to sell that is why it is not all rosey. Saving seed phrase can be easy like you said but the problem is how secure and safe it is where you wrote it down because our seed phrase can never be 100 percent secure or save because it can be compromised mistakenly or misplaced. Age is not a factor but I would not advise an under 10 to be thinking about Bitcoin investment I mean their parents can handle it for them till they are of age.

It's sweet when you are making a profit, but before you make a profit, you have to be ready to make the sacrifice, because there are a lot of challenges that you are going to face, especially when it comes to selling. A lot of people are always tempted to sell, and that is why, instead of wanting to sell, it will be better for your emergency funds to take care of financial challenges, because that way we are going to solve our financial issues through our emergency funds.

Then the security of how coin should also be prioritized anything aside from buying should not be entertained, and there are a lot of vendors out there that are legit, so we need to be conscious of intruders coming with a lot of updates that they might want to use to scam you. Because of other people's greed, they have fallen victim to these guys, so these are things that people need to be very careful of, but because of their greed, it becomes hard.

[abaeze]

They might not feel about needed to start their accumulation as early as they can, since at that age priorities may came different. But for some other old people,  they choose  to invest to preserve their wealth, combat inflation or to have some good asset to use for inheritance.

Bitcoin is flexible and I think old people look at it as their legacy tool or something they can use to fight inflation.

Life expectancy is maybe short and that 4 year cycle or timeline can actually work with oldies, if they still choose to invest on Bitcoin.

Agreed, Bitcoin has become such an asset that it has become an investable and long-term profitable asset for all classes of people, young and old. In short, Bitcoin has matured enough to fulfill everyone's objectives. So now older people not only invest in Bitcoin for the rest of their lives but they can also create wealth for the next generation, which can be a much bigger asset over time.

However, if they need retirement money, it would not be right to rely on Bitcoin's four-year cycle because no one knows in advance when life will stop. So it would be better to enjoy it than to save it at a later age. Also, in the case of Bitcoin, having a logical reason for an older person to invest and investing in Bitcoin is not the same thing as investing in Bitcoin being financially suitable for them.

[Dareo]

I think it all depends on the situation of an older person, as for those that has children definitely they will see reasons to accumulate bitcoin because even if they are no more their children is there to continue with the investment. And yeah those that doesn't have children may not see reasons to accumulate Bitcoin given that they don't have someone that would manage and / or continue from where they stopped if eventually they didn't make it up to that timeline they planned that Their investment will get to before they will look into selling to take profit, just as JJG said in his previous comment that someone that has gotten to the age of 70 can invest can invest in Bitcoin rather; they will have to reduce Their investment timeline for like 4 years.

I believe that someone in his seventies or above should have been accumulating or investing when he was way younger, so from that 70 years is when he should be doing a sustainable withdrawal of his Bitcoin investment, not looking to start his investment journey. But as you have said already, if someone wants to invest in Bitcoin and he in his seventies already, he can still do so, but he should not invest and hold more than a circle, unless he intended doing it for his offspring,  because at that age he is closer to the end of his life, that is why he cannot keep a long term target like the younger investors.

However, neither inflation spares anybody even at an old age. The savings of an elderly person in the form of pension money or fiat currency savings sitting in the bank lose their purchasing power every year. So in my opinion, the main reason for investments in Bitcoin at such an age is neither getting rich nor leaving it to children, but saving their money from inflation. At least, they can leave in Bitcoin only 30-40% of their pension or savings, so at least the value of their money will be preserved. Moreover, it is much easier to deal with Bitcoin than with gold or land at that age.

[Churchillvv]

~snip~

In my opinion…. the number of old folks to show interest in accumulating bitcoin will be very low. Because at that age, I doubt if they have any ambition or see reason to accumulate bitcoin; compared to young folks. Imagine someone that has been working his whole life until 70 yrs; he might not see bitcoin investing as something he needs to pursue at that age, especially with the uncertainty that comes with it and life expectancy. Even if he has no investment on ground before, he may choose to just relax and enjoy the remaining years with his savings.

I think it all depends on the situation of an older person, as for those that has children definitely they will see reasons to accumulate bitcoin because even if they are no more their children is there to continue with the investment. And yeah those that doesn't have children may not see reasons to accumulate Bitcoin given that they don't have someone that would manage and / or continue from where they stopped if eventually they didn't make it up to that timeline they planned that Their investment will get to before they will look into selling to take profit, just as JJG said in his previous comment that someone that has gotten to the age of 70 may well invest in Bitcoin rather; they will have to reduce Their investment timeline for like 4 years. and sure, this timeline is a bit closer but 5 years is a bit far especially for people in that age but I believe some old people can make it up and Still add more to it but since they are not sure about when the unknown "death" will happen, it's wise to set Their target in such a way that they can start enjoying their investment even though they didn't enjoy it to the fullest.

Perhaps this is where I believe life expectancy is very important, at such age its always a retirement age rather an investment age hence they will probably be enjoying from their retirement plan from the whole of the time they spent working and hence if need be to invest in bitcoin out of interest or desire, a cycle is enough for such investment which i agree with previous comments, however in this 4 years that is in quest it would make more sense if that starts from the bear market but however if that is not the case then a lump sum is my nearest guess for someone in their 70s to enjoy their investment in bitcoin, considering the fact that they most have worked from their 30s and 40s and probably 50s to 60s (depending on some countries and individual capacity) then someone within such age should be able to lump sum but since bitcoin is not a get rich quick (GRQ) then DCA and any other investment pattern would be considered but not majorly the perfect approach which is why the three methods exist. Death being evitable someone in their 70s may well end up living longer than they may expect hence depending on health situation at such age, however if lucky enough they may well see to the end of the investment and reap the least they can which is why bitcoin is considered in my personal opinion timeless and ageless which is an advantage to most.

I believe that someone in his seventies or above should have been accumulating or investing when he was way younger, so from that 70 years is when he should be doing a sustainable withdrawal of his Bitcoin investment, not looking to start his investment journey. But as you have said already, if someone wants to invest in Bitcoin and he in his seventies already, he can still do so, but he should not invest and hold more than a circle, unless he intended doing it for his offspring,  because at that age he is closer to the end of his life, that is why he cannot keep a long term target like the younger investors.

Life circumstances can happen and people will start investing at the moment which they met the opportunity however you are not wrong that at such age someone in their 70s should be enjoying from their investment rather than investing but however assuming one is at the age and has an overly extra capability to invest (for instance; winning a lottery) they may well invest regardless of the age and that is within the timeline of 4 to 10 years which is only going to be determine by individual life expectancy but however if one got it then investing will do no harm however they may as well leave that as an inheritance (if possible). within the 10 years max, 2 cycles, may have well fall in within the 10 years making it a very good investment at such age.

Age alone should not be use  determine whether someone should accumulate Bitcoin. Imagine a 70 year old man who has worked all his life and has enough savings to take care of himself. He may not need bitcoin at all, and I respect that. But another man of the same age may want to preserve some wealth for his children and grandchildren. Bitcoin could interest him for that reason.

I think  the important thing is knowing the purpose of the investment. And someone who may need the money for medical bills or daily expenses is not advised to invest it in bitcoin rather it is adviseable to only discretionary income when investing.

Lastly  Bitcoin is not only about how long you have left to live, but also about what you want your money to do for you.

In terms of heritance bitcoin is well a good investment for that but however one may want to personally enjoy the investment and having the capacity to invest, he/she could use a timeline of 4 years to do that while investing they can be making withdrawal within the next 4 years if they get to live to that extent, however let us not limit the ability to invest in bitcoin to a certain age but however, investing in the working age is best but if the opportunity finds someone in an age where life expectancy could be the disadvantage then a short period of investment could be a solution and not just a short term but within a cycle and not above 2 cycles. such is good enough to hold an invest for such age and yet be able to enough it a little before the expected happens, since we have people in their 80s still able to do things which they consider fun and if universe blesses one with such amount of time on earth then they can do bitcoin investment in their 70s and still enjoy it at the end of the day.

[Creeper0]

However, neither inflation spares anybody even at an old age. The savings of an elderly person in the form of pension money or fiat currency savings sitting in the bank lose their purchasing power every year. So in my opinion, the main reason for investments in Bitcoin at such an age is neither getting rich nor leaving it to children, but saving their money from inflation. At least, they can leave in Bitcoin only 30-40% of their pension or savings, so at least the value of their money will be preserved. Moreover, it is much easier to deal with Bitcoin than with gold or land at that age.

Do you want to call old age an investment age? I think it is an age of enjoyment. If an elderly person wants to leave something for his next generation, then I think it is wise for him to keep some money in Bitcoin.

But if his pension money or savings are considered for consumption or use when necessary, then it is better not to keep that money in Bitcoin. Because the volatility of Bitcoin can prevent the use of that money even when needed or can cause losses.

We all know that various diseases appear in the body in old age and more urgent moments arise at that age, so I do not want to advise putting any new money in Bitcoin. If you want to leave it for your heirs, that is a different matter. Keeping money in Bitcoin in old age just to protect against inflation may cause more disadvantages than advantages.

[Showlove01]

It's sweet when you are making a profit, but before you make a profit, you have to be ready to make the sacrifice, because there are a lot of challenges that you are going to face, especially when it comes to selling. A lot of people are always tempted to sell, and that is why, instead of wanting to sell, it will be better for your emergency funds to take care of financial challenges, because that way we are going to solve our financial issues through our emergency funds..

Of course everyone want to make profit but they should not be in a haste to make this profit because that is not how things work, there is time or season to plant and there is also time or season for harvest, so rushing things can either make you miss your harvest or regret why you didn't follow the principles as it is meant. There is no challenge if someone decide to sell their investment but two things are involve either they are selling at profit or they are selling at loss but it will make more send if they hold for long.

[Joeboy]

~snip~

Of course everyone want to make profit but they should not be in a haste to make this profit because that is not how things work, there is time or season to plant and there is also time or season for harvest, so rushing things can either make you miss your harvest or regret why you didn't follow the principles as it is meant. There is no challenge if someone decide to sell their investment but two things are involve either they are selling at profit or they are selling at loss but it will make more send if they hold for long.

As a long term investor, it would make absolutely no sense to prioritize selling, coz that could very well deplete your portfolio real quick rather than growing it.. Your investment is supposed to be given a good number of time to appreciate and produce positive results(even if it isn't a guarantee)...But all this cannot happen if selling at every available opportunity becomes part of the individual...Even if the market bumps into the bull period where you tend to experience a rapid  rise in the value of your portfolio, your focus should still be pinned on your long term goal and then ensure that you don't get carried away by the excitement of seeing your portfolio appreciate in value..

[JayJuanGee]

Health concerns have to do with timeline and ability to enjoy, so if a person had spent 30-40 years or more building wealth.. and yeah, presumptively a person who is 90 might have spent 70 years building.. and I am not even sure if it is realistic to presume that he is still building rather than liquidating or engaging in sustainable withdrawal.. so even a guy who is 70- years old may well have had entered into liquidation and sustainable withdrawal rather than still building his investment.

Of course if a guy is starting at completely zero investments and he is 70, then his timeline of 4-10 years or more would be one of his individual factors that he would have to take into account, and yeah, building bitcoin between 70 and 74 might work for some guys... and then a 4 year timeline to cash out, maybe?

In my opinion…. the number of old folks to show interest in accumulating bitcoin will be very low. Because at that age, I doubt if they have any ambition or see reason to accumulate bitcoin; compared to young folks. Imagine someone that has been working his whole life until 70 yrs; he might not see bitcoin investing as something he needs to pursue at that age, especially with the uncertainty that comes with it and life expectancy. Even if he has no investment on ground before, he may choose to just relax and enjoy the remaining years with his savings.

I do not deny that there may be some people who may want to enjoy their savings at the age of 70. But before assuming that they will be less interested in accumulating Bitcoin, perhaps they should have considered how much and what the savings will be used for. Not wanting to invest new and not having a reasonable reason to invest are not the same thing. There may also be people who are interested in starting investing at the age of 70 for their next generation.

Since this is my thread, I would prefer to not be speculating about old people who might be interested in investing for the next generation. That is too big of an assumption.

Sure, if you want to invest for the next generation, then do what the fuck, you want, we don't need to be proclaiming to have desires to invest for beyond our life as our base case.

In other words, it is better to presume that we are investing for our own life, and if we happen to have additional ambitions, then we can tailor our ambitions, yet we don't need to be wasting our time on those speculative matters in this thread.  If you want to continue to pursue those kinds of amorphous motivations go to some other thread or make your own thread about it.

I find it mostly off-topic here unless you have some specific factual situation that you want to outline.

I can talk about two types of situations. First, one may have already built up wealth and is now using it. Second, they are starting to invest at this age. In this case, even if they are the same age, their decisions will not be the same. Again, investing in Bitcoin for the first time does not mean starting the journey of building all kinds of wealth from scratch.
 

If we are getting into proclamations about age - either starting out or already having had invested, you need to be way the fuck more specific about the example, otherwise you are off topic, since I am getting a wee bit tired about these pie in the sky speculations about guys investing for the afterlife...

In other words, age is a real factor, and I think guys are being out of touch with reality when they are glossing over superficial, vague, speculative "what if" scenarios.

I will give two examples of people, the first of whom may have all his necessary expenses covered from his savings. He may not be able to wait long to put that money into Bitcoin.  Another person may have some discretionary income after meeting their essential expenses with their regular income, which they may not need in the long run. They may consider investing a limited portion of that money if they wish. In this case, even though they are of the same age, their dependence on money is different. It is not that the second person has to invest too. If they do not want to take risks, they may prefer to use savings. However, instead of assuming that the decision is not ambitious due to age, it is more useful to look at how much money will be needed when and how it will affect their lifestyle if prices fall.

If you want to talk about after life bullshit or investing at advanced ages, you need way the fuck more specifics in your example.

How long had the guy been investing? (In other words what does his investment portfolio look like, and how much of that is bitcoin?)

Is he still working?  What is his income, expenses, and expected timeline for continuing to work? And, what is his expected standard of living (perhaps compared with his current standard of living)?

How old is he? and how much more time does he expect to work?

Does he have a timeline of more than 4 years for any additional bitcoin purchases he might make? 

When is he going to want to start to draw on his bitcoin?  In other words, does he have only bitcoin as income or does he have other income sources?

If guys cannot lay out these kinds of particulars, then fuck off to some other thread in your attempts to discuss such vague nonsense about elderly investing, and you don't even know shit about the particular elderly person (and/or person with health issues).

You think that age and/or health is not a factor in regards to how guys choose to invest?

I didn't mean that in fact i agree with you that age and health affect our financial decision but i was asking the guy who said for older people investment in bitcoin through discretionary income is not a good choice i believe that age is just a number if we look at warren buffet when he is in his 80s he still doing investments so that is what i mean

You think that comparing ourselves to warren buffet in his 80s is a good comparison?

Are you assuming guys have assets? or in the case of warren, excess assets?

Do you think that we could consider some examples that are more practical rather than suggesting Warren Buffet to be potentially relevant to our discussion, here?

that we do not have to encourage people who are older because if someone is young and he is doing investment does not mean that he will die only when he get old people will die at a young age too .

Sure.  People die old and young, yet we still account for age/health when we are choosing to invest in bitcoin and even when we might be trying to determine how much to invest in bitcoin..and then sure, age/health are factors for maintenance and liquidation considerations too..

[edited out]

Just as people age differently, even an 80 years old person man or woman can be so old that they don't even have clear sight, lack steady or healthy speech/talk, can't walk well and other unhealthy conditions that they shouldn't be bordered with much business or investment even when they're CEOs talk more starting afresh. Beautiful if it's that they already have been investing in Bitcoin before the unhealthy condition, when that's the case then they can just continue to hold and that's if there is resources for their wellbeing, if not the thing is to sell their Bitcoin to help them live healthier not for people around to worry them or them worrying themselves about accumulation of Bitcoin. Healthy living should be their greatest goal not money making.

The the extent an elderly person is still of capacity and managing their own affairs, then they decide for themselves whether and if so how to invest in bitcoin... and they would account for their individual particulars.

The older they are, the more difficult it might become to justify at least a 4 year timeline, yet of course, other assets and cash can also be considerations in regards to whether to put money into bitcoin when they are weighing where to put money and how much to put in each asset, and/or even to keep in cash.

If they are competent and managing their own finances they decide based on their factors, and if they have someone helping them or managing their finances, then perhaps they would consult with that other person in regards to their allocations and the application of their individual factors.

[Saltysugar99]

It's sweet when you are making a profit, but before you make a profit, you have to be ready to make the sacrifice, because there are a lot of challenges that you are going to face, especially when it comes to selling. A lot of people are always tempted to sell, and that is why, instead of wanting to sell, it will be better for your emergency funds to take care of financial challenges, because that way we are going to solve our financial issues through our emergency funds.

You said that investing requires sacrifices and financial challenges. But an investor should create a situation where he does not have to compromise on the necessary expenses to hold bitcoin. If his expenses are higher than income and he does not have a backup fund, then I do not think it is logical to sacrifice the necessary expenses and invest in bitcoin beyond his ability . To invest in bitcoin for the long-term, it is important to have strong and correct financial planning. Therefore you need to manage your cashflow in such a way that even if the price of bitcoin drops by 30% or 50% you do not need to sell your holdings to meet daily expenses. Another thing is I think it is foolish to invest in bitcoin by reducing your essential expenses. An investor can increase bitcoin accumulation by reducing his unnecessary expenses, but that does not mean that he has to reduce all his expenses or sacrifice personal needs to buy bitcoin. Do you think that a person should accept that situation even if he cannot maintain his normal lifestyle just to buy more bitcoin? How realistic is such a thought for long term investment?

Even if a person spends all his discretionary income on buying bitcoin it will not always be the right decision. Because discretionary income is not only for investment a part of it can also be used to create a backup fund and for personal expenses as per his wishes. Therefore unnecessary and wasteful expenses of life can be eliminated. But if there is an extra cost to do the necessary expenses and an activity that gives peace of mind those expenses should not be reduced.

[cyberninja2]

Of course everyone want to make profit but they should not be in a haste to make this profit because that is not how things work, there is time or season to plant and there is also time or season for harvest, so rushing things can either make you miss your harvest or regret why you didn't follow the principles as it is meant. There is no challenge if someone decide to sell their investment but two things are involve either they are selling at profit or they are selling at loss but it will make more send if they hold for long.

Usually, someone who wants to make a profit in a hurry will often fail in everything they do. Therefore, they will bring their experience to this topic which is the topic of investing. I believe this is an escape from the situation motivated by immediate profits, rather than fundamental knowledge of how to actually make a profit in the future.

Achieving profit requires a process, and many people don't take sides when it comes to issues related to making a profit in a hurry. Because every profit obtained requires a process or the right time period so that the profit can be achieved and even then it is still uncertain because not necessarily everything we do will immediately reach the peak of achieving profit, especially as discussed in this topic where profits can be achieved immediately in a hurry and for me it is very impossible to happen or be achieved as desired by that person.

[Primark]

[edited out].

[edited out].

I may not have understood it then. But now that I read your discussion, I realize that I brought up the topic of the next generation without sufficient basis. However, I will definitely try to remember your words. It is not right to jump to that conclusion without even knowing the person's income, expenses and the need to withdraw money from investments.

To be honest, I really meant the elderly who still earn from work or receive regular retirement money and can set aside discretionary income after meeting all their necessary expenses. Some of them may be interested now, even if they have not started investing before. I did not want to rule out that possibility just because of age. But I should have been more careful to mention the consideration of their situation, not just limiting it to interest.

[BluebloodCXVI]

It's sweet when you are making a profit, but before you make a profit, you have to be ready to make the sacrifice, because there are a lot of challenges that you are going to face, especially when it comes to selling. A lot of people are always tempted to sell, and that is why, instead of wanting to sell, it will be better for your emergency funds to take care of financial challenges, because that way we are going to solve our financial issues through our emergency funds.

You said that investing requires sacrifices and financial challenges. But an investor should create a situation where he does not have to compromise on the necessary expenses to hold bitcoin. If his expenses are higher than income and he does not have a backup fund, then I do not think it is logical to sacrifice the necessary expenses and invest in bitcoin beyond his ability . To invest in bitcoin for the long-term, it is important to have strong and correct financial planning. Therefore you need to manage your cashflow in such a way that even if the price of bitcoin drops by 30% or 50% you do not need to sell your holdings to meet daily expenses. Another thing is I think it is foolish to invest in bitcoin by reducing your essential expenses. An investor can increase bitcoin accumulation by reducing his unnecessary expenses, but that does not mean that he has to reduce all his expenses or sacrifice personal needs to buy bitcoin. Do you think that a person should accept that situation even if he cannot maintain his normal lifestyle just to buy more bitcoin? How realistic is such a thought for long term investment?

Even if a person spends all his discretionary income on buying bitcoin it will not always be the right decision. Because discretionary income is not only for investment a part of it can also be used to create a backup fund and for personal expenses as per his wishes. Therefore unnecessary and wasteful expenses of life can be eliminated. But if there is an extra cost to do the necessary expenses and an activity that gives peace of mind those expenses should not be reduced.

Feed my curiosity pless, what exactly would you say constitutes a normal lifestyle, and which expenses do you think are genuinely necessary?…i’m not saying you’re completely wrong but you need to understand that there is a difference between maintaining a reasonable standard of living and preserving every existing spending habit simply because you are accustomed to it.

If someone can comfortably be able to meet their essential needs but still chooses to reduce some certain personal expenses so as to be able invest more, i don’t see why that should automatically be considered as an unhealthy sacrifice.
All i’m saying is that not every reduction in a person’s present consumption is a compromise to the well being of that person.

At the same time, i wouldn’t want to proclaim or argue that someone should eliminate every source of enjoyment in their lives just to be able to accumulate more Bitcoin because an investment strategy that becomes financially or psychologically unsustainable can easily defeat its own purpose. Bitcoin should be treated as an investment, not a reason to make your entire life revolve around accumulating sats only.

[Outhue]

~snip~

You have a good point here. Let's say that in the last 9 to 10 years back bitcoin has actually superseded real Estate or property rather, but some folks are still believing that property is more safer than bitcoin because they are seeing it physically, though we have a lots of properties, like having house for rent is much different because it can be generating income, purchasing a bigger land and leave it for several years is can never beat the value of bitcoin, I knew many people that bought property for so long around 2017 and 2018 are now regretting why they didn't inves in bitcoin at that time, because hadn't been they invest that  same money into bitcoin hold it to date, they would have been doing better at time time. Example now, the person  that uses like 10M  Naira to buy land In 2918, may definitely trying to sell it around 15 millions naira in BTC now, and if Bitcoin in 2018 work around $6k would worth like over 260m Naira without any stress.

In addition to what you have just said, I think one of the reasons why most people still prefer property and Fiat rather than Bitcoin is due to the decentralized nature of Bitcoin. They are used to local bank that they usually go to the nearest branch to make complaints whenever they are having issues, so Bitcoin doesn't have that feature that is why they have chose not to participate in this game we are playing, but I believe some day they will definitely regret why they didn't start when it was somehow cheaper compare to the price as at that time. I keep telling my friends who are yet to get involved in bitcoin investment that the earlier they start accumulating bitcoin the better for them and This also goes to those folks who are procrastinating at the same time  giving excuses; An opportunity lost is lost forever there's no way you can bring it back.

The decentralised nature should be the reason why they should consider Bitcoin over properties and Fiat, such people likes been control and fear to be in control themselves, they are the types that says whatever the president decides is what I am going to do even though the president plans to rob and used them, lack of understanding is why anyone will leave Bitcoin behind and go for properties.

There are also some people who choose properties because they don't have confidence in what they can't see, I am talking from experience that a rich local man once said to me, he said he can't keep investing in something that's digital, and I don't blame him because he is an oldy man, their style and way of thinking is different.

Fiat is always depreciating, since I was born I have never seen our country's fiat going up in value, maybe in a week or two but the way is down down and down, Bitcoin have rescue me too many times just by turning all my fiat into Bitcoin.

[Junii]

You think that comparing ourselves to warren buffet in his 80s is a good comparison?

I am not comparing Warren Buffett's with an average person. I am just saying that people should not be discouraged from investing just because they are getting older  because if someone has a good and stable source of income also he has no debt and has savings plus a good amount of discretionary income then why we stop them to invest in bitcoin because bitcoin is also an asset and if we compare it with other assets  the return of bitcoin is better as compared to other traditional assets.

[Futurexxx]

You think that comparing ourselves to warren buffet in his 80s is a good comparison?

I am not comparing Warren Buffett's with an average person. I am just saying that people should not be discouraged from investing just because they are getting older  because if someone has a good and stable source of income also he has no debt and has savings plus a good amount of discretionary income then why we stop them to invest in bitcoin because bitcoin is also an asset and if we compare it with other assets  the return of bitcoin is better as compared to other traditional assets.

I agree with you that Bitcoin is a better investment than majority of our traditional investments out there, because it history and records in the past ten years speak for itself, even though it's not a guarantee on what may happens in the future, but if you must invest in Bitcoin effectively, all you just need is a source of discretionary income, so that you can be consistent in your accumulation.

And point of correction, your income must not be stable before you invest in it, as you are saying because having a stable income doesn't guarantees that you can figure out your discretionary income from it, so as long as you can figure out your discretionary income, then you can start your investment right away.