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You can't force anyone to get into Bitcoin investment, it is by will and personal choices, so anyone can do whatever they like with there income. Perhaps, some might also go into Gold or real estate or other investments, it is there choice.
Yeah, but why would we referring to gold, real estate and/or any other investments as if they were not inferior to bitcoin?
You think that it doesn't matter?
Sure guys can choose whatever they like, even dumb shit, but we are talking about bitcoin here and I doubt very many of us consider bitcoin as compared with other possible investment places to be "whatever. Do whatever you want."
It seems to me (and it is my thread) that we are talking about bitcoin here, and not "do whatever you like" - even though surely deep down each person can do what they like and they are responsible for doing whatever they like (including the consequences), yet at the same time, we are talking about bitcoin investment ideas here.. .which is not "do whatever you like."
However, Bitcoin still remains the best,
At least you remembered that part.
more especially, for the fact that it's a store of value unlike we other investments. Investing in Bitcoin for a long time period will will not only save us from our money losing value due to inflati, but also, when the market moves upwards, we will get to see our assets add value over time and make us more financially rich. Bitcoin still remains the best, but sure, anyone can still do whatever they like after all.
Sure. We invest in bitcoin based on an expectation that it has good chances of going up relative to other places that we might choose to put our time, energy and value.
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Cash is useful and we shouldn't just discard it just because it looses value over time. As long as people generally uses it then it has usefulness.
Are you adding any value with this superficial statement?
Many of us recognize and appreciate that we likely earn in dollars (fiat) and we use fiat to pay our expenses, so we likely have to build up and keep a certain amount of it so we are able to use it in the utility sense that you suggest, to pay for goods and services, and especially our basic expenses.
But since it looses value over time, we must then preserve our money. How then should we do that. Investing in entities that protect your wealth is very good. Those entities are usually volatile. But then cash has it's own purpose and it is liquidity. You can use it to achieve things within or outside your country. Clothes, shoes, bills etc. Those entities i was talking about, example of one of them Bitcoin. Gold is another one. We also have bonds, stocks, lands and each and everyone carries some certain degree of risk. So these entities are used to preserve your wealth for a very long time. More specifically, your purchasing power. Just that it can't be used to purchase needs that you need quickly. That is were currency steps in. Identify what to use as a quick purchase and what to use as a store of value is very important in todays world.
You have 4 posts, a forum registration from 2 days ago, and you want to lecture us about generic principles? Have you read any posts in this thread or even the various starting posts? What distinguishes you from a bot? Do you have any specific personal experiences that can help to inform whatever vague seemingly AI generated superficial baloney you are spewing?
After searching, I found this topic on Bitcoin holding related in the Trading Discussion section. I spent some time reading many posts. Where most of them are advising to buy Bitcoin and hold it for a long time. I recently installed the exchanger and set it up. So yesterday I decided to buy some Bitcoin for the equivalent of $240. So today when I entered the exchange, I noticed that the price of Bitcoin has dropped further. If it continues to drop like this, it is not known when it will increase. In that case, I am a little uncertain whether it is better to buy Bitcoin now or wait a little longer and buy when the price starts increasing, then I can make more profit?
Also I have some questions, how do those who have been holding Bitcoin for a long time actually keep their mentality stable when the price drops? Where I am a little afraid before buying Bitcoin
.
And if I buy Bitcoin and hold the price is likely to increase. If I buy Bitcoin now, how long will it take for my fund to become 30% profitable?
Invest into bitcoin from your discretionary funds, and invest no more than you can afford to lose... so if you are afraid of investing $100 per week, then maybe reduce it, and if you are afraid to invest $10 per week, then maybe you should not be investing in bitcoin.
Investing in bitcoin is a 4-10 year or longer time horizon, and there is no guarantee of profits... and if you are coming straight into bitcoin thinking about when you can make 10% profits, then you probably need to go to some other thread, since we are talking about investing into bitcoin in this thread.. and maybe you should read the first few opening posts of the thread to get some better ideas about the topic of the thread.
I totally agree with you that DCA is one of the best ways to accumulate bitcoin because no one can predict what the market will do next. Rather than waiting for bitcoin price to drop before buying, it’s best to remain consistent and take advantage of different market conditions. Even if it’s a small amount you are investing, consistency is still very essential more than trying to time the market.
But we shouldn’t forget that there’s still life after bitcoin. Before you invest in bitcoin ensure your bills, emergency funds and your basic needs are being settled. It’s an unwise decision to put all your money in bitcoin and struggle to survive. Your purpose for investing in bitcoin is to build a good financial future for yourself not to put yourself under pressure.
The most basic necessities such as food, clothing, shelter and payment of other utilities must be sorted out before attempting to invest In bitcoin for long term purpose. But the emergency funds shouldn’t be considered as one of those basic needs which must be sorted out before starting to invest. It is advisable that once the basic needs are met, investors can use the left over discretionary income to start investing in bitcoin even if the emergency funds is not readily available. Along the line the investor can start saving some part of his discretionary income for building the emergency funds gradually while ongoingly accumulating bitcoin.
You are correct @Brizi5000. Emergency funds are built from discretionary funds, so they are not at the same level of priority as basic expenses.
Once basic expenses have been accounted for, then the remaining is discretionary funds, and with discretionary funds there can be choices to use such discretionary funds to 1) invest (in bitcoin), 2) save (put into emergency funds and/or reserve funds) and/or 3) discretionarily consume.
Guys choose their priorities of how to use their discretionary funds within those three categories and within their own assessment of what they want to be more important and/or less important within the category of their wants. Needs had already been taken care of prior to calculating how much discretionary funds are available.
Sure, there are some guys who have such high levels of income that they feel that they do not have to spend much or any time figuring out how much discretionary funds that they have available because they feel that they have plenty of discretionary funds. Yet, if they choose to invest aggressively into bitcoin, they might find that it is helpful t them, and their calculations to verify that they are not investing and/or discretionarily consuming beyond their incoming flow of discretionary funds.
The most basic necessities such as food, clothing, shelter and payment of other utilities must be sorted out before attempting to invest In bitcoin for long term purpose. But the emergency funds shouldn’t be considered as one of those basic needs which must be sorted out before starting to invest. It is advisable that once the basic needs are met, investors can use the left over discretionary income to start investing in bitcoin even if the emergency funds is not readily available. Along the line the investor can start saving some part of his discretionary income for building the emergency funds gradually while ongoingly accumulating bitcoin.
If an investor invests for the long term and starts investing with his discretionary income after fulfilling all his basic needs. Then it would be better for him to focus on creating an emergency fund right after starting the investment. Because emergencies can come at any time, so whether the investment is small or big, it is necessary to create an emergency plan to make his investment sustainable. The first thing an investor should do is start investing, then use discretionary income for investment and for emergency fund.
If someone wants to invest for the long term, then he must focus on emergency fund and also think about how to increase his cash flow and be more active in investment. The most effective way of investing is consistency, the more consistency he maintains in his investment, the better amount of BTC he can save in his investment.
There is no reason that a beginner investor should not and/or could not build back up funds (or emergency funds) at the same time that he is building his bitcoin stack, especially since it is not a good idea to not have any back up funds.
In regards to discretionary funds, they are meant for investing, savings and/or discretionary consumption, so they should not ONLY be used for investing and savings, there is a need to account for discretionary consumption, which should not be zero, even if a person is claiming to be a monk (or living like a monk).
If an investor invests for the long term and starts investing with his discretionary income after fulfilling all his basic needs. Then it would be better for him to focus on creating an emergency fund right after starting the investment. Because emergencies can come at any time, so whether the investment is small or big, it is necessary to create an emergency plan to make his investment sustainable. The first thing an investor should do is start investing, then use discretionary income for investment and for emergency fund.
If someone wants to invest for the long term, then he must focus on emergency fund and also think about how to increase his cash flow and be more active in investment. The most effective way of investing is consistency, the more consistency he maintains in his investment, the better amount of BTC he can save in his investment.
Emergency funds are important, but, should be built alongside Bitcoin investment, and being .treated as something to worry about later.. and having discretionary income doesn't mean all of it should go be use to buy bitcoin An investor can
divide that surplus between regular buying of bitcoin, building of an emergency fund and back up funds. The purpose of an emergency fund is to protect the investor from being forced to sell his bitcoin holding whenever an unexpected situation arises. Consistency matters, but having financial security is also part of a sustainable long term investment plan.
What about discretionary consumption? Do you even know what that is?
You mention emergency funds and back up funds (and that is pretty much the same thing).
You keep repeating the same and you keep leaving out discretionary consumption, which causes me to believe that you do not even know what discretionary consumption is.
Do you realize that there is a difference between needs and wants?
Generally, needs would be included in basic expenses, and wants would be included in discretionary consumption. Do you know how to calculate the difference between needs and wants? or the ramifications of such calculations in terms of each of us figuring out our discretionary budget?
