I am happy because there are also the same with me, not owning 1BTC, but hopefully, someday we will have at least 1BTC
I am not onwing 1BTC right now, but only 0,......BTC. AT least, we are trying to invest in BTC with the amount that we have and also free money that we can afford.
Investing in BTC is actually very promising but sometimes, there are some immediate necessity that lead me to sell some of the BTC. Although we sometimes think to invest with free money, in fact, soemtimes, the reality doesn'tmeet with our plan. No need to worry because we still can invest again as long aswe want to.
It seems to me that it really does not matter very much if any of us accumulate bitcoin over some arbitrary point, such as having at least 1 BTC..
yeah, sure some people get these kinds of dumb and arbitrary round numbers in their head, but it does not matter. Bitcoin has 8 digits.. so there are a lot of fairly arbitrary BTC/satoshi accumulation goals that people can pick, aim for or even try to maintain once getting to that point.
Don't get me wrong. On a personal level, it is good that we attempt to tailor goals for ourselves, and it is also good that if we do establish goals for ourselves then we figure out ways to work towards establishing them, so we may have some goals that we know are for sure attainable and then longer goals that may or may not be attainable but would be the goals that we work towards after achieving the lower level goals...
When I first got into bitcoin in late 2013, many folks had goals to get up to 100 BTC. but then as the price went up, then the goals changed, and maybe became 50 or 21 or 10 or now maybe 1 BTC or perhaps, there may well be needs to lower the threshold to satoshi measurements as other users had already mentioned.. so maybe start the goal out to get to 1 million satoshis, then 21 million than of course if we get to 100 million satoshis, then we have reached 1 BTC.. which may or may not be reachable for any of us... depending on how much we are able to invest as a lump sum, or on a regular basis or perhaps over several years into the future.
It's a yes for me..i am a believer of Bitcoin. I believe in the capacity of earning with Bitcoin. I believe that the price will increase if not this year, i believe in the next generation. So, i will let my investment with bitcoin and buy again when i have more savings
the earning capacity of bitcoin is certainly a real thing, there are many people who are rich in bitcoin. If you believe and continue to want to hold on to it is a good choice, the important thing is that you know what you are doing. Buy and continue to increase the bitcoin stock you have until you finally reach your target price.
Even though I'm in 2022, I still don't have 1 BTC, but at least
I feel I have more than 1 BTC in previous years.
Yes this can be challenging to continue to raise the amount of BTC that you have over the years, and sometimes mistakes are made along the way. I would speculate that folks who focus on ONLY accumulating bitcoin, until they reach some BTC/wealth accumulation threshold values should be able to constantly increase their BTC over the years, so long as they focus on ONLY buying and keeping their BTC in safe places in order that they do not lose any BTC... so within this example, anyone who actually ends up selling any BTC would be on a sell and replace kind of practice, and so if we continue to accumulate BTC in this manner, then our BTC stash should ONLY be going up.
One of the difficulties is that people will sometimes start to try to trade their BTC prior to having had accumulated BTC at or above their goal level.. and then if any of us sell our BTC and try to buy back more later, then we run chances that we could well end up with less BTC and unable to buy back as much BTC as we had once had.
Once you reach your BTC accumulation target level, then it would make sense that with the passage of time that your BTC amount would go down.. but if you are still in BTC accumulation mode, then ideally the BTC accumulation amount should not start to go down until after you have reached your target amounts.
I do not own 1 bitcoin, and the sad thing is that 1 bitcoin is not even enough to like retire or be rich or anything in my nation, even though I am from a poor nation. Of course, it is not a big deal in places like the USA or the UK, because it is a small amount there,
Of course, there is going to be country to country variation, and also there are classes of people within countries too.. so some folks are more rich than others. Accordingly, there are going to be places in which it is easier to accumulate greater levels of wealth, so long as you are able to manage your money, and there are going to be places in which there are challenges to earn very much money.. to be able to buy BTC, likely you mentioned.. that's part of the reason why focusing on 1 BTC or some random number like that might be somewhat arbitrary and abstract because it does not mean anything in respect to your particular circumstances.
but even in my nation with under 300 dollars per month minimum wage, we are talking about something that is not that rich with 30k, even though that is 100 months of minimum wage.
Surely, it is not a bad idea to frame these kinds of BTC accumulation abilities ideas in terms of how much money that you are able to make. Are you ONLY able to make minimum wage? Are there ways that you are able to earn more than minimum wage?
If you are able to invest 10% of your annual income into BTC, then it may well take you 10 years to have had invested Up-to your annual wage amount into BTC, and of course, if you can invest 20%, then you will be able to achieve investing your annual wage in 5 years, so then the question might become in regards to how long does it take you to be able to get to a certain investment level, and where are you going to put that investment value in terms of hoping that the value will either sustain itself (at worse) or better if the value is able to increase with the passage of time.
Of course, many of us regular BTC advocates believe that bitcoin is either the best or amongst the best of places to store your value and in order to consider that you would have decently good chances of being able to hold your value or to increase the value contained in that investment with the passage of time, so even if it might well end up taking you 10 years to invest up to 1 years worth of wages, you are also likely to get growth in the value of that investment while it is sitting in BTC... no need to be greedy and to search for ways to enhance your investment and likely is better to preserve the value by building it and making sure that you keep your BTC safe so that you do not lose any of it over the time that you are building it.. whether that is 10 years or 20 years or maybe even longer than that.
I suppose you could use that as capital and get in some debt and then get richer, if you are lucky you would make that into something bigger but that is usually nothing that much of a big deal at all.
I am not opposed to using debt to front load your investment timeline, but you have to be careful NOT to be too greedy in terms of making sure that you are able to service the debt with other sources than the item that you are investing into. Of course it is better if you are able to assure that your investment into BTC goes up during the period that your loan is outstanding, yet there are no guarantees that BTC prices are going up.. so in that regard, you have to lessen the chances that you will get totally recked rather than merely just making your situation worse off because of your having had gone into debt... I am not opposed to debt as long as you have a variety of means to service the debt besides merely praying that your BTC goes up.. and that would be called leveraged gambling rather than being smart, reasonable and prudent.
I would hazard a guess that it is mostly
unachievable for the majority at this stage.
Is it though? I mean, at current value that's what you'd expect to earn from a yearly salary right? Obviously, not on minimum wage, but I believe the average wage is just below that. I don't know exactly in the US, and what the US dollar equivalent is, but I do believe the UK is around 24k, which would be around about the price it's at now.
So theoretically, those that can offer their services for Bitcoin, just as they do with fiat could earn similar amounts. I don't think it's unachievable at the moment. If we see the price increase to upwards of $100k, that's when a lot of people will be priced out, well of owning one BItcoin anyway. Not that it's important, just interested why you'd think something which could be achieved in a year by many, would be unachievable. Even earning half of that, it would take two years. Obviously, the fluctuating costs of Bitcoin might go against you, but I imagine we'll be at a rather low point for a while.
Yea anyone could work for Bitcoin instead of FIAT but its another thing holding on
to the earnings, bills have to be paid etc. so after 1 year of earning Bitcoin instead
of FIAT there wouldnt be much left especially in the current economic climate
of rising cost of living.
I agree. It does not really matter very much if you earn the money in bitcoin or in fiat, you still have to figure out how much value that you want to keep in each, and so earning in BTC will likely cause you to have to sell way more frequently than other people who are earning in fiat. If you have bills in fiat, then you likely still have to make sure that you keep some of your balances in fiat so that you can attempt to choose the time that you are selling your BTC rather than holding onto too much BTC and then not being able to cover your expenses.
is it possible to earn £24k per year in Bitcoin along with your regular FIAT salary?
Compare ourselves living in western european countries to weaker economies where
the average wage is far less.
From my own standing there wouldnt be a hope for me to buy 1 bitcoin at current rate
of ~$30k and I havent been
able to save $30k in the last 30 years.
But I agree that in the very near future it will be more unachievable as the price
rises past $100k
For someone like you, it might be difficult to get to 1 BTC if you have not been able to save $30k in the past 30 years, yet you can still figure out some kind of a system to be able to put as much as you are reasonably able to put into bitcoin - and if you are able to put 10% of your income into BTC, then after 10 years you would have invested up to 1 years worth of your income into BTC, and if you are able to be more aggressive than that, then you can lessen the timeline to get to the point in which you have put a whole year's income into BTC.
Also, I went for diversification of my coins and I would say that's a much safer and smarter plan than just throwing all your eggs in the same basket.
Diversification to shitcoins isn't safer than investing on Bitcoin only, because shitcoins have higher risk than Bitcoin and wouldn't survive for long time, if survive then the price are become worthless. No to mention almost of shitcoins always follow Bitcoin price, this mean when Bitcoin is dump, the others will dump. Then your diversification are failed, consider to other commodities e.g. gold, real estate, stock, precious metal.
Yep it is not likely to help your BTC investment to be gambling on shitcoins... and in fact if you fuck around in shitcoins, you have decently good chances of making your BTC accumulation level worse rather than better.
Doesn't have that kind of investment in my wallet. Someday i will have my own 1 BITCOIN. Bitcoin price is too expensive for now. As an ordinary worker will not have it unless i learn more about some business thing and trading as too.
Having one bitcoin is very possible because do you can achieve it through investment or long term investment of cryptocurrency because you can purchase what can today and the possible in the US coin happened to propagate in future and you convert it to bitcoin so with your investment you can as well make one Bitcoin in future
what we need is a business strategies to activity ambition.You have a good point about the creation and maintenance of a "business strategy" in regards to how you may well approach building your BTC over the years, and you do not need to fuck around in shitcoins or to trade in order to build your "business strategy."
Your "business strategy" in regards to bitcoin should be to just continue to accumulate until you reach or exceed your BTC accumulation target levels. Once you get to your target levels, then you can adapt your strategies. Of course, the longer that you are in bitcoin and the more bitcoin that you accumulate, the more options that you likely are going to feel that you have...and hopefully each of us are able to figure out ways to enhance our BTC "business strategies" rather than entering into gambling, trading or screwing around with shitcoins (which tends to be another form of gambling).
But then again, it's better to have a goal, I mean you can just start small, DCA and accumulate throughout the years that you are in crypto. And you just don't know, slowly your wallet will grow. Thing though is that you should also be prepared mentally about it, because it is not going to be an easy journey.
That's right. Even though we should start right away, we should start slowly and in such a way that we know that we have a sustainable and systematic way of investing into bitcoin and building our bitcoin holdings over time because, like you said, the journey into building our bitcoin holdings is not easy in the beginning, and it likely takes a while to get to a point in which we are comfortable.. perhaps 4-10 years or longer.. just to start to build a level of comfort and then perhaps even longer before we might feel comfortable that we can start to draw upon our bitcoin holdings in order to support our lifestyles.
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