Days you need to work your ass at minimum wage for a BTC, by country

[Inwestour]

If your goal is to accumulate more BTC, then the best way to do that is to continue to buy BTC through DCA, lump sum and buying on dips.. and then perhaps HODL if you run out of money when you buy on dips but the dip keeps dippening.

It is very risky to be fucking around with selling BTC in order to accumulate more.. .. even though in theory and on paper it seems like it could work... but still risky in actual practice to fuck around with selling in order to accumulate more BTC when the better practices remain buying regularly and buying on dips..

This will create certain risks, and in this way you can not only increase the bitcoins in the wallet but also lose, so I would not risk my bitcoins, which I buy for the long term.

If you want to test your skills in trading, then for this you can allocate part of the budget and just try to trade bitcoin, say, in pair with usdt. A few months of trading will be enough to see what results, maybe after that the desire to sell your bitcoins in order to increase their number in the wallet will change.

Alternatively, people who are new to bitcoin at this particular moment do not have the luxury of being able to go back in time and to buy bitcoin at lower prices, so they have to figure out what they are going to do right at this moment based on information that is currently in front of them.  Buy or not to buy?  How much to buy?  how aggressive to be?  Are there ways to increase my income or to reduce my expenses in order that I can buy more bitcoin in such a way that is sufficiently aggressive, but not so aggressive that I end up recking myself?

In fact, the current price of bitcoin is quite high for the average citizen, and not everyone understands that buying bitcoin in parts, satoshi, also makes sense. Thus, they think that they just missed the right time to buy and do not even think about buying now. At the same time, they do not have many alternatives to where they could put their money to save them from inflation. Quite a lot of people save, but most just keep it in fiat and inflation eats their savings year after year.

[jeraldskie11]

1 2 3 4

Luxembourg Australia New Zealand Germany

341 345 350 371

My sister is currently working in Germany. It's great to hear that you only have one year to obtain one Bitcoin, implying that the income is huge. It encourages me to work in Germany, where she lives. I truly want to own one Btc someday, and that is my for a long time goal. It's great to have "whole number" of Bitcoin because most people only have decimal of it. Working overseas is not easy, but with motivation and inspiration, it is very possible.

[Luzin]

Working overseas is not easy, but with motivation and inspiration, it is very possible.

I work for a salary of no more than $230 in one month. I can't rely on this money to buy Bitcoin, to pay electricity, water, internet, food and drink, school fees have not given much money left over to buy bitcoin. But actually I am lucky enough to have known Bitcoin since 2015. So I feel happy, right now I am focusing on the funds I have for the needs of life and Bitcoin investment. I have separated everything and I will not try to reduce the amount of Bitcoin if it is not in urgent conditions.

[Ale88]

I've grown a bit tired of all GDP PPP numbers, all the Gini index, and since we are on Btcointalk we should probably focus on Bitcoin prices and how to get your coins (other than gambling our life savings) here is a table on how many days of minimum wage work you have to ...let's say survive to get a coin. This of course is assuming you don't spend a penny, and you survive on god knows what!

There are a few countries missing as their minimum wage is either not set or it's irrelevant since it's so old everybody already earns 10 times more. Also, as a note, when you go over the 10 000 number, that's 27 years!

Some of those numbers are really crazy, it's insane to see such big differences among different countries but, unfortunately, that is no surprise at all. Now I understand more why before the merit system was added to the forum there were people participating in the bounties campaigns with tens of accounts, probably a few posts on this forum were worth more than a 8-hour shift in their country...

[JayJuanGee]

What is the most interesting is how many countries are at 5k+. If you're at 5k it means unreachable, because you're saving up in fiat terms, so the more time it takes the more impact inflation will have on your savings and the more expensive bitcoin will be. If you decide to save up with a goal of 1 btc over the course of 3 years, that's doable, but 5 years will mean that bitcoin will go through a whole cycle while you're doing it, and at the same time yo will lose at least 5% of what you were trying to save up each year. What looks now like 5 years may in fact end up being 7, or more.

Sure one of the dilemmas of starting early in any investment - especially volatile ones like bitcoin - is that if the BTC price largely continues to go up, then you likely would have had been way better to leverage buy at a way earlier time and then ride it out for one cycle or more - however, one of the problems of leverage buying is that you might have had leveraged at a time in which the BTC price was way higher and then you end up losing a lot of opportunity costs, that could even last 3 years or longer, to wait out for the BTC price to get back to the price that it was when you entered into the leverage buy.

So if the BTC price is tending to go up, then many times, it is going to be higher after a whole cycle.. even though we did also have a bit of a quirk when the BTC prices spent around 9 months from June 2022 to March 2023 touching upon or even plenty of time below the 2017 market high of $19,666... which caused a lot of pundits to suggest that it might not have had been valuable to be buying BTC in the past 4.5 years based on BTC prices not then sufficiently appreciated higher than they had been in late 2017.

Even if some of those ideas would have had been technically true for anyone who might have had spot price bought bitcoin in late as a kind of lump sum investment; however, surely some of those impressions are misleading in terms of the overall value of BTC as an investment, even if there might have been a start to buying BTC near the peak of BTC price performance in late 2017.  

Just a straight forward DCA strategy into BTC buying $100 per week since about the top of the 2017 price rise would have resulted in around $30k invested and 2.6708 BTC accumulated. Of course if you do not make enough money to stack $100 per week, you can still figure out how much you would have had been able to stack during that time, and still be in profits.. and part of my point is that there are quite a few advantages of stacking BTC over time rathe than lump sum investing.. especially since many people (and probably especially poor people) could not even gather up funds for lump sum investing anyhow, so the real only meaningful and practical way to build a BTC position is to do it over time and to try to manage it into whatever extra cashflow that they are able to put together and to be able to thereafter put that value into BTC for the longer term and to let the ongoing investment to ride out and hopefully build in value and to compound upon itself, even if it might take 20-30 years or more to really see a lot of meaningful life changing value in their investment into bitcoin, and even though there are no guarantees that a bitcoin investment will end up paying off, it seems that investing into bitcoin is still amongst the best (if not the best?) option available to normal people, aka normies, aka poor people, aka not rich people.

That's some pretty useless statistical data if you ask me.
What's the point of busting your ass working on a minimum wage for the sake of earning one whole Bitcoin? Can't you just earn 0.1 BTC?
Will you consider your life to be truly accomplished after earning that one whole Bitcoin? Why don't you invest in yourself, gather some skills and get jobs, that are paying a higher salary? Why don't you try to build a business? Working on a minimum wage is the definition of wasting your life, while being an underpaid slave. Countries that have low salaries also have low cost of living, so it's not accurate to compare the minimum wage in different countries without calculating the purchasing power parity(PPP).

I doesn't seem to be a waste of time to look at the data.. even if there are likely several flaws in the comparisons and the ways that different countries collect (or fail to collect) their data.. even discussing the various ways that the data is flawed might create various talking points in regards to the extent that any individual believes that s/he is able to earn beyond the minimum wage - or if regular folks are actually living off of (or paid in something close to the minimum wage - or perhaps many folks are earning a amount that differs from the minimum wage).

Of course, people make tradeoffs in terms of whether they invest into their education, job skills or various other investments (including bitcoin) that they can make after they have paid for their various living expenses.  I am largely with you in terms of the value to try to invest into things that are going to give life time earning power, so it might not be a good idea to invest money into bitcoin that could otherwise increase your life long abilities to earn on a regular basis and then from those extra earnings it might be good to invest into something like bitcoin, but sure people can choose to continue to roll over their extra income into themselves so that they might not ever be able to justify investing into bitcoin based on their still having decent bang for the buck in terms of various ways that they are figuring out how to invest into themselves and to otherwise increase (or secure) their earning power that would be above minimum wage (hopefully magnitudes above minimum wage - but then if the income is magnitudes above minimum wage, then there would be some justifications to put some (if not all) of that extra into investing into bitcoin... bitcoin is a good competitive investment, even though you are correct that investing into yourself might actually have more concrete and better payoffs that last over a lifetime and might well be harder to lose, too.

people who only have fixed income in minimum wage maybe live in low quality life, but it's depend on each country. some people may need to buy cheap daily necessities although the quality is low in order save money to buy something that they need beside of daily necessities. for example maybe they need to buy smartphone, laptop or vehicle. it seems that it is so difficult for them to have a BTC, even buy some satoshi is not so easy for them. but at least they have a job. maybe the answer is to take bigger risk in trading, although join pump and dump market may make them lost their money but it is also provide them opportunity to grow their money, maybe at least in altcoin trading they can earn 3% - 17% profit in day trading depend on their skill. of course they may lost 3% - 17% as well. knowledge is really important.

Fucking around with trading/gambling/altcoins is likely not going to be valuable uses of time - even though I can recognize and appreciate how some people are going to be attracted to figuring out ways that they might be able to earn money on line if they are having difficulties earning money through normal channels that are available in their country.

[Ryu_Ar1]

It doesn't only show that people in countries with the lowest minimum wages take longer to accumulate until they have one whole Bitcoin, it also shows that if you live in one of these countries, you SHOULD own Bitcoin as a store of value.

Well, in this case I personally don't really expect everyone to be able to buy 1 bitcoin. Although it would be great if you could buy 1 bitcoin but of course if you really want something like that for our less income then there is no need to wait to be able to buy 1 bitcoin to be in bitcoin.
There are several strategies that can be done to make ourselves as bitcoin investors such as by buying gradually (DCA) or maybe waiting in some moments when bitcoin has decreased.
When only fixated on being able to buy 1 bitcoin with difficult financial conditions it will only waste time, not to mention the unpredictable price of bitcoin every day so that collecting money to buy 1 bitcoin at once will be very difficult to do.

[JayJuanGee]

I am now caught up with this thread... and maybe most things in relation to this topic have already been said or starting to repeat?  I know that I am starting to repeat, but hey, I say a lot of similar things, and maybe it does not even matter what the topic of the thread is, even though I am trying to "relate" to a feasible extent.

[edited out]

In summary, recognizing and appreciating opportunities, we have to be proactive in seeking personnel and professional growth can help individuals progress toward higher paying jobs. Simultaneously, it is equally important to address systematic errors on broader level for fair distribution of opportunities.

I think that you got the first part right, but the second part is more difficult in terms of individual actions.

The first part you are talking about taking individual actions in order to try to improve yourself and your situation based on various conditions that exist.  

In the second part, you are assessing that it is "equally important" that we try to change society.. and surely there is nothing wrong  with trying to work to change society, but I doubt that it is "equally important" as trying to figure out ways to locate and work towards taking advantage of areas that you personally are able identify in order to make sure that you are able to make your life better.

Sure people sacrifice aspects of their lives for the greater good.. so I am not really going to disparage those kinds of behaviors, but if you want to try to improve your situation, it is not necessarily taking away from others when you focus on those kinds of behaviors - even bitcoin is designed around pursuing self interests, and even presuming that if we pursue self-interests then the bitcoin system becomes stronger.

Don't get me wrong because I am not sure if bitcoin solves all problems, especially when it comes to the existence of various public goods and even the role of government to protect various aspects of the common good.... but at least when we are referring to the various monetary aspects of potentially removing governments (and even private bodies) from manipulating monetary systems, bitcoin fixes a lot of those things - and as individuals, once we recognize that bitcoin fixes a lot of monetary problems, then it seems to be to our advantage to figure out ways that we invest our time, energies and finances into such a system that is likely going to continue to grow and to fix a lot of monetary mis-incentives that are in society - even though bitcoin does not likely resolve all of those problems.. but we still have individual choices regarding whether or how much of our time, energies and finances to invest into bitcoin and bitcoin-related systems.

... for those who are starting just now, they shouldn't feel discouraged. It's possible that in some years you will have to work for two decades or more in order to acquire a single BTC coin. So, a decade doesn't look that bad at all for you who are starting your journey right now.

Also there is no choice, for anyone who wants to get price exposure to BTC, then it seems better to start investing sooner rather than later, and if you cannot invest because you do not have any money or you do not sufficiently know how much money that you have available because you have not sufficiently figured out your personal finances, then it seems better to get started into getting your shit in order so that you are able to start to accumulate bitcoin sooner rather than later, and even if you might receive payoffs for being sufficiently aggressive in regards to bitcoin accumulation, there is no need to be overaggressive or to get greedy and to gamble.  in other words, a persistent, prudent and reasonably ongoingly aggressive BTC accumulation strategies is still likely to give a lot more options than to delay such strategies, even if it might take you 30 years to accumulate .01 BTC.. but then in 30 years, 0.01BTC may well be worth in the ballpark of $100k..so even if you are accumulating less and less BTC, even $10 per week could end up paying off stupendously... which would be $520 per year, which would be $5,200 every 10 years, which would be $15,600 invested in 30 years... and so even if you are investing $10 per week now, maybe your cashflow will go up in the future too.

[EarnOnVictor]

It doesn't only show that people in countries with the lowest minimum wages take longer to accumulate until they have one whole Bitcoin, it also shows that if you live in one of these countries, you SHOULD own Bitcoin as a store of value.

Well, in this case I personally don't really expect everyone to be able to buy 1 bitcoin. Although it would be great if you could buy 1 bitcoin but of course if you really want something like that for our less income then there is no need to wait to be able to buy 1 bitcoin to be in bitcoin.
There are several strategies that can be done to make ourselves as bitcoin investors such as by buying gradually (DCA) or maybe waiting in some moments when bitcoin has decreased.
When only fixated on being able to buy 1 bitcoin with difficult financial conditions it will only waste time, not to mention the unpredictable price of bitcoin every day so that collecting money to buy 1 bitcoin at once will be very difficult to do.

We are fortunate more than one another, some people are lucky with the country, environment and status they find themselves and they could buy as much as possible Bitcoin as if it's nothing. But it might take some people years or a decade to get 1 BTC, while some will not even be able to get 1 BTC in their entire life. So the world and this life are not balanced it's we that should plan our way around it particularly if we could afford to save bit by bit, we can be making the purchase as our financial ability could take us, and we would be surprised on what we have bought over time.

I never knew I could have as much Bitcoin as I have now, this was achieved within a year. It was a personal determination when I joined BTT and was encouraged by how people are enthusiastic about the coin, and with all my studies, I knew that Bitcoin is progressive as far as investment is concerned. This made me start saving heavily and what I have now is so encouraging.

Anyone could do this, there is some money that we are just wasting on frivolities, if we are determined and could painstakingly save to buy it with the mind set of "no amount is too small," no one would be left out in the Bitcoin investment, only that our investment size would vary depending on the opportunity we have to earn money.

[Inwestour]

I never knew I could have as much Bitcoin as I have now, this was achieved within a year. It was a personal determination when I joined BTT and was encouraged by how people are enthusiastic about the coin, and with all my studies, I knew that Bitcoin is progressive as far as investment is concerned. This made me start saving heavily and what I have now is so encouraging.

Anyone could do this, there is some money that we are just wasting on frivolities, if we are determined and could painstakingly save to buy it with the mind set of "no amount is too small," no one would be left out in the Bitcoin investment, only that our investment size would vary depending on the opportunity we have to earn money.

The forum motivates, I also feel it myself. I had certain thoughts about bitcoin, but I could not structure them, everything was somehow chaotic. But when you communicate here with like-minded people, especially with those who have already passed this path before you, it helps to understand how to act correctly.

This makes it possible to build a certain strategy, understanding how to act in different situations. Of course, this will not always give an exact "recipe for success", but when you have a plan of action, everything becomes much clearer and more understandable. And the forum also helps me to increase the amount of bitcoin in my wallet, I don't know if there is another place with this kind of opportunity.

[bitLeap]

... for those who are starting just now, they shouldn't feel discouraged. It's possible that in some years you will have to work for two decades or more in order to acquire a single BTC coin. So, a decade doesn't look that bad at all for you who are starting your journey right now.

Also there is no choice, for anyone who wants to get price exposure to BTC, then it seems better to start investing sooner rather than later, and if you cannot invest because you do not have any money or you do not sufficiently know how much money that you have available because you have not sufficiently figured out your personal finances, then it seems better to get started into getting your shit in order so that you are able to start to accumulate bitcoin sooner rather than later, and even if you might receive payoffs for being sufficiently aggressive in regards to bitcoin accumulation, there is no need to be overaggressive or to get greedy and to gamble.  in other words, a persistent, prudent and reasonably ongoingly aggressive BTC accumulation strategies is still likely to give a lot more options than to delay such strategies, even if it might take you 30 years to accumulate .01 BTC.. but then in 30 years, 0.01BTC may well be worth in the ballpark of $100k..so even if you are accumulating less and less BTC, even $10 per week could end up paying off stupendously... which would be $520 per year, which would be $5,200 every 10 years, which would be $15,600 invested in 30 years... and so even if you are investing $10 per week now, maybe your cashflow will go up in the future too.

Although we will be able to miss "again" because we do not have the money to allocate to buy bitcoin but we should not force ourselves, such as taking loans or other things, because it will be something greedy, different when we have more money and allocate most of that money to buy bitcoin it is not something greedy, because we do not force ourselves to "hold money".
But there should be enough time for us to prepare (if we know it first). Except for those who are new to it and want to invest now. Starting to earn an income is one of the best options at such a time, because we can't afford to sacrifice something that we must fulfill in order to invest in bitcoin.
Holding bitcoin is something that must be thought through, because for me once I enter it means I am ready to hold in the long run. Do not let me have to stop in the middle of the road, or in the sense that I should not be half and half in stepping.

[JayJuanGee]

It doesn't only show that people in countries with the lowest minimum wages take longer to accumulate until they have one whole Bitcoin, it also shows that if you live in one of these countries, you SHOULD own Bitcoin as a store of value.

Well, in this case I personally don't really expect everyone to be able to buy 1 bitcoin. Although it would be great if you could buy 1 bitcoin but of course if you really want something like that for our less income then there is no need to wait to be able to buy 1 bitcoin to be in bitcoin.
There are several strategies that can be done to make ourselves as bitcoin investors such as by buying gradually (DCA) or maybe waiting in some moments when bitcoin has decreased.
When only fixated on being able to buy 1 bitcoin with difficult financial conditions it will only waste time, not to mention the unpredictable price of bitcoin every day so that collecting money to buy 1 bitcoin at once will be very difficult to do.

We are fortunate more than one another, some people are lucky with the country, environment and status they find themselves and they could buy as much as possible Bitcoin as if it's nothing. But it might take some people years or a decade to get 1 BTC, while some will not even be able to get 1 BTC in their entire life. So the world and this life are not balanced it's we that should plan our way around it particularly if we could afford to save bit by bit, we can be making the purchase as our financial ability could take us, and we would be surprised on what we have bought over time.

I never knew I could have as much Bitcoin as I have now, this was achieved within a year. It was a personal determination when I joined BTT and was encouraged by how people are enthusiastic about the coin, and with all my studies, I knew that Bitcoin is progressive as far as investment is concerned. This made me start saving heavily and what I have now is so encouraging.

Anyone could do this, there is some money that we are just wasting on frivolities, if we are determined and could painstakingly save to buy it with the mind set of "no amount is too small," no one would be left out in the Bitcoin investment, only that our investment size would vary depending on the opportunity we have to earn money.

I can relate to your situation EarnOnVictor - because in late 2013, when I started to buy bitcoin, I started pretty close to the top of the 2013 price rise, so when I started buying BTC, I had set some accumulation goals for myself, and by the end of 2014, I had far exceeded the BTC accumulation goals that I set for myself - even though my BTC largely remained in the negative for the next year, I was quite content that I had managed to accumulate more BTC than I thought that I was going to be able to.

Another thing is that for a large part of 2015, when I largely had run out of extra cashflow, I recall that there were some moments in which I would come across some extra cashflow, even small amounts like $20 or $50, and when that extra cashflow came in, then i would split it in half and buy half with bitcoin, and sometimes the purchase amounts were very small, so if I split the $50 in half and I bought $25 worth of bitcoin, in many times during 2015, that would have gotten me right around 0.1 BTC..since the BTC price was in the mid to lower $200s for most of that year - at least until about October/November when there was a price surge up to $500, and part of the emotional issues of being new to an asset, such as bitcoin, sometimes you will get nervous and not really know what to do - so for me, in October/November 2015, I ended up kind of panicking when the BTC price was shooting up from $300-ish to $500-ish in a very short time, and I started to believe that I was not going to be able to buy BTC below my average cost per BTC (which was then in the lower $500s), and I ended up panic buying towards the top of that price run with whatever cash I had been saving up and holding in reserves during that year... and that cash was supposed to be used for buying on dips, and I ended up blowing it around nearly $500 per BTC and having to wait around 6 months before those panic BTC purchases got back into break-even and/or profitability.

... for those who are starting just now, they shouldn't feel discouraged. It's possible that in some years you will have to work for two decades or more in order to acquire a single BTC coin. So, a decade doesn't look that bad at all for you who are starting your journey right now.

Also there is no choice, for anyone who wants to get price exposure to BTC, then it seems better to start investing sooner rather than later, and if you cannot invest because you do not have any money or you do not sufficiently know how much money that you have available because you have not sufficiently figured out your personal finances, then it seems better to get started into getting your shit in order so that you are able to start to accumulate bitcoin sooner rather than later, and even if you might receive payoffs for being sufficiently aggressive in regards to bitcoin accumulation, there is no need to be overaggressive or to get greedy and to gamble.  in other words, a persistent, prudent and reasonably ongoingly aggressive BTC accumulation strategies is still likely to give a lot more options than to delay such strategies, even if it might take you 30 years to accumulate .01 BTC.. but then in 30 years, 0.01BTC may well be worth in the ballpark of $100k..so even if you are accumulating less and less BTC, even $10 per week could end up paying off stupendously... which would be $520 per year, which would be $5,200 every 10 years, which would be $15,600 invested in 30 years... and so even if you are investing $10 per week now, maybe your cashflow will go up in the future too.

Although we will be able to miss "again" because we do not have the money to allocate to buy bitcoin but we should not force ourselves, such as taking loans or other things, because it will be something greedy, different when we have more money and allocate most of that money to buy bitcoin it is not something greedy, because we do not force ourselves to "hold money".
But there should be enough time for us to prepare (if we know it first). Except for those who are new to it and want to invest now. Starting to earn an income is one of the best options at such a time, because we can't afford to sacrifice something that we must fulfill in order to invest in bitcoin.
Holding bitcoin is something that must be thought through, because for me once I enter it means I am ready to hold in the long run. Do not let me have to stop in the middle of the road, or in the sense that I should not be half and half in stepping.

I agree that bitcoin is such an assymetric bet to the ujpside that you do not need to leverage in order to have the potential of profiting stupendously by being able to either lose 100% or potentially multiply the amount that you invested.

So frequently I suggest that it is good to be aggressive but not overly aggressive, so sometimes people do not know what it means to be sufficiently aggressive without being overly aggressive, and taking out loans and relying upon your BTC returns may well be overly aggressive, but if your income allows you to be able to invest $100 per week, you are not being overly aggressive by doing that.. as long as you otherwise have your expenses under control, including having emergency funds sufficiently available. .so sometimes, you might calculate that you can invest $100 per week, but it might well be better for you to only invest $50 per week, until you get a better grasp on your finances and to maybe stack to the side the other $50 and let it build up.. so that you have it available in case you need it... but if you already have a few thousand set aside for your possible emergency fund that could support you for a few months, then maybe you do not need more money in your emergency fund and you can invest the whole amount of your discretionary cashflow amount (referring to the $100 per week).

I agree with your other point too.. is that once you are in bitcoin, you don't want to be put into a position that you have to sell your bitcoin at any time other than a time that is completely of your own choosing.. so if you have some shit hit the fan situations going on in your life, you need to have some resources that you can draw from, and not from your bitcoin, and sometimes, people might get nervous because they have several thousand dollars sitting in accounts that are not earning much if any interest, so they feel that their money is not working, but if shit hits the fan, it is way better to be able to draw from that cash rather than having to dip into your bitcoin at a time that you do not choose including that you may well want to create a situation in which you do not have to draw into your bitcoin for 4-10 years or longer and even in the beginning years if you do draw into your bitcoin, then it is a spend and replace situation in which you are pretty much buying your bitcoin back within a few days (if not within a few hours) of the time that you had sold (transacted in) them for whatever reason...

and sure sometimes if you have some trading accounts set up, and you might find a situation in which you ended up spending $200 on some kind of a bitocoin transaction, and the BTC price is $29,200-ish.     You could set a couple of orders to buy back $100 at $29k and at $28.8k., and you might or might not consider whether you are being too greedy to buy back at a discount, and those are discretionary calls that you can make depending on other ways that you might be managing your BTC stash, including how heavily you might consider yourself to be in a DCA accumulation phase or if you might have already been stacking BTC for several years (your forum registration date is similar to mine bitLeap, so it is possible that you have been stacking sats for a while, so you may well have more flexibilities in regards to how urgent you believe it is to replace any BTC that you might have sold, as compared to someone who might be in their first year of stacking BTC and feeling that they need to be more persistent in terms of stacking and replacing any BTC that they might have sold).  For my first few years in bitcoin, I was frequently nervous about making sure that I replaced in a fairly short period of time of my selling; however, as I had been in BTC longer, I have been willing to set up extra buy orders and even remove some of my sell orders in order to other wise just let the BTC price come to me rather than rushing any replacement of the BTC that I had sold. 

[Sayeds56]

It's good to learn every day, and Moreover we aren't parfect on anything so the best idea is always keep our self busy because the more we work the more knowledge we aqure.
If we have a low income by month end you can live your country because their will not be enough money to do so, that's what everybody wanted, living your country to another is also called learning, the type of work you do depends the amount of Bitcoin you hold, op if you are saying this I don't think you have store enough Bitcoin.

Indeed, developing a learning mindset is beneficial for the whole life. Learning new things every day is not only helpful to gain knowledge but also enables us to adapt changing circumstances and grow as individuals. It is important to note that beside formal educational from universities, we need to build skills, such as content writing, software development, marketing expertise to generate extra income for investing in Bitcoin and accumulate one Bitcoin, that can potentially alter the financial future of our families.

[Mr.suevie]

I never knew I could have as much Bitcoin as I have now, this was achieved within a year. It was a personal determination when I joined BTT and was encouraged by how people are enthusiastic about the coin, and with all my studies, I knew that Bitcoin is progressive as far as investment is concerned. This made me start saving heavily and what I have now is so encouraging.

Anyone could do this, there is some money that we are just wasting on frivolities, if we are determined and could painstakingly save to buy it with the mind set of "no amount is too small," no one would be left out in the Bitcoin investment, only that our investment size would vary depending on the opportunity we have to earn money.

The forum motivates, I also feel it myself. I had certain thoughts about bitcoin, but I could not structure them, everything was somehow chaotic. But when you communicate here with like-minded people, especially with those who have already passed this path before you, it helps to understand how to act correctly.

This makes it possible to build a certain strategy, understanding how to act in different situations. Of course, this will not always give an exact "recipe for success", but when you have a plan of action, everything becomes much clearer and more understandable. And the forum also helps me to increase the amount of bitcoin in my wallet, I don't know if there is another place with this kind of opportunity.

Indeed the forum is a great place to learn and I must admit before now I wasn't much of the economic discussion type since I always feel I have nothing to offer but ever since I started my surf and research here about  bitcoin I have become so open to many ways in which I can become a successful bitcoin investor and believe me learning from other people mistake can be the best thing that could happen to you because you will have all the tools to successful make your own pathway successful and this is exactly what the forum has been doing to my knowledge on various fields that covers not only crypto (BTC) but also other ways of life.

[bitLeap]

~snip~

Although we will be able to miss "again" because we do not have the money to allocate to buy bitcoin but we should not force ourselves, such as taking loans or other things, because it will be something greedy, different when we have more money and allocate most of that money to buy bitcoin it is not something greedy, because we do not force ourselves to "hold money".
But there should be enough time for us to prepare (if we know it first). Except for those who are new to it and want to invest now. Starting to earn an income is one of the best options at such a time, because we can't afford to sacrifice something that we must fulfill in order to invest in bitcoin.
Holding bitcoin is something that must be thought through, because for me once I enter it means I am ready to hold in the long run. Do not let me have to stop in the middle of the road, or in the sense that I should not be half and half in stepping.

I agree that bitcoin is such an assymetric bet to the ujpside that you do not need to leverage in order to have the potential of profiting stupendously by being able to either lose 100% or potentially multiply the amount that you invested.

So frequently I suggest that it is good to be aggressive but not overly aggressive, so sometimes people do not know what it means to be sufficiently aggressive without being overly aggressive, and taking out loans and relying upon your BTC returns may well be overly aggressive, but if your income allows you to be able to invest $100 per week, you are not being overly aggressive by doing that.. as long as you otherwise have your expenses under control, including having emergency funds sufficiently available. .so sometimes, you might calculate that you can invest $100 per week, but it might well be better for you to only invest $50 per week, until you get a better grasp on your finances and to maybe stack to the side the other $50 and let it build up.. so that you have it available in case you need it... but if you already have a few thousand set aside for your possible emergency fund that could support you for a few months, then maybe you do not need more money in your emergency fund and you can invest the whole amount of your discretionary cashflow amount (referring to the $100 per week).

I agree with your other point too.. is that once you are in bitcoin, you don't want to be put into a position that you have to sell your bitcoin at any time other than a time that is completely of your own choosing.. so if you have some shit hit the fan situations going on in your life, you need to have some resources that you can draw from, and not from your bitcoin, and sometimes, people might get nervous because they have several thousand dollars sitting in accounts that are not earning much if any interest, so they feel that their money is not working, but if shit hits the fan, it is way better to be able to draw from that cash rather than having to dip into your bitcoin at a time that you do not choose including that you may well want to create a situation in which you do not have to draw into your bitcoin for 4-10 years or longer and even in the beginning years if you do draw into your bitcoin, then it is a spend and replace situation in which you are pretty much buying your bitcoin back within a few days (if not within a few hours) of the time that you had sold (transacted in) them for whatever reason...

Aggressive is necessary, but we must be able to place when we should be aggressive when not, logically who doesn't want to be aggressive by continuing to make purchases every week with large amounts? everyone would want to do it, but back again whether we are in a condition that allows us to do it or not. I'm sure everyone wants to buy 1 btc in every purchase, but because of the difficulty of doing that, we (especially me) will definitely do the smallest amount. In short, you can't buy in large quantities, but if you don't want to buy in small quantities, it will eliminate all opportunities. And for me it would be too stupid to miss it.
I actually feel very lucky because I can buy bitcoin in any amount and even though there is a minimum amount it is an amount that we can really do.

I often say this too, that investing in bitcoin requires a lot of sacrifice, especially in terms of time. Our patience will be very tested here, we can't just talk about the sweetness, but also don't miss the bitter taste, and I categorize time as a bitter taste that must remain in my grasp.

[nutildah]

First time I saw this thread, interesting way of displaying the data, which is basically just a list of global minimum wages sorted by highest first. This is what comes to mind when I see it in terms of the numbers of days:

3-digits: I would like to live there if I had enough money.
4-digits: I would like to vacation there.
5-digits: You couldn't pay me to go there.
6-digits: There must be a war going on.
Venezuela: WTF

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.

Yes but you know the wage law isn't very well enforced... I know people who get paid far less than that. Some only make ₱2000 per month, which is currently $36.38.

[jaberwock]

Although we will be able to miss "again" because we do not have the money to allocate to buy bitcoin but we should not force ourselves, such as taking loans or other things, because it will be something greedy, different when we have more money and allocate most of that money to buy bitcoin it is not something greedy, because we do not force ourselves to "hold money".
But there should be enough time for us to prepare (if we know it first). Except for those who are new to it and want to invest now. Starting to earn an income is one of the best options at such a time, because we can't afford to sacrifice something that we must fulfill in order to invest in bitcoin.
Holding bitcoin is something that must be thought through, because for me once I enter it means I am ready to hold in the long run. Do not let me have to stop in the middle of the road, or in the sense that I should not be half and half in stepping.

I feel like taking a risk and getting more bitcoin is understandable to a point but not taking a risk to lose it all, that's not how we should do it. Like for example instead of putting 100 dollars into bitcoin for a full year, get 1200 dollars as a loan and put it in bitcoin now and then pay the debt back like you would be getting bitcoin. THAT type of loan makes sense, you are going to do it anyway, but if you do anything else, like get a loan you can't repay and need bitcoin to go up in order to be able to repay, then you are going to be screwed.

Better know the difference between the two and you are going to be doing fine, not a lot of people knows the difference between those two and they end up getting a bad loan that hurts them.

[Darker45]

I don't know where you got these data, but in the Philippines, the latest standard minimum wage is ₱570 to ₱610.

Yes but you know the wage law isn't very well enforced... I know people who get paid far less than that. Some only make ₱2000 per month, which is currently $36.38.

Yes, of course, I know that very well. We can actually expound this discussion a bit to include certain discrepancies and other harsh realities on the ground, but since OP is simply talking about the minimum wage, then those are the official numbers. This discussion is, after all, basically theoretical.

You've been in the country for quite a while. You must have observed how laws and policies here are oftentimes mere hollow letters.

[JayJuanGee]

~snip~

Although we will be able to miss "again" because we do not have the money to allocate to buy bitcoin but we should not force ourselves, such as taking loans or other things, because it will be something greedy, different when we have more money and allocate most of that money to buy bitcoin it is not something greedy, because we do not force ourselves to "hold money".
But there should be enough time for us to prepare (if we know it first). Except for those who are new to it and want to invest now. Starting to earn an income is one of the best options at such a time, because we can't afford to sacrifice something that we must fulfill in order to invest in bitcoin.
Holding bitcoin is something that must be thought through, because for me once I enter it means I am ready to hold in the long run. Do not let me have to stop in the middle of the road, or in the sense that I should not be half and half in stepping.

I agree that bitcoin is such an assymetric bet to the ujpside that you do not need to leverage in order to have the potential of profiting stupendously by being able to either lose 100% or potentially multiply the amount that you invested.

So frequently I suggest that it is good to be aggressive but not overly aggressive, so sometimes people do not know what it means to be sufficiently aggressive without being overly aggressive, and taking out loans and relying upon your BTC returns may well be overly aggressive, but if your income allows you to be able to invest $100 per week, you are not being overly aggressive by doing that.. as long as you otherwise have your expenses under control, including having emergency funds sufficiently available. .so sometimes, you might calculate that you can invest $100 per week, but it might well be better for you to only invest $50 per week, until you get a better grasp on your finances and to maybe stack to the side the other $50 and let it build up.. so that you have it available in case you need it... but if you already have a few thousand set aside for your possible emergency fund that could support you for a few months, then maybe you do not need more money in your emergency fund and you can invest the whole amount of your discretionary cashflow amount (referring to the $100 per week).

I agree with your other point too.. is that once you are in bitcoin, you don't want to be put into a position that you have to sell your bitcoin at any time other than a time that is completely of your own choosing.. so if you have some shit hit the fan situations going on in your life, you need to have some resources that you can draw from, and not from your bitcoin, and sometimes, people might get nervous because they have several thousand dollars sitting in accounts that are not earning much if any interest, so they feel that their money is not working, but if shit hits the fan, it is way better to be able to draw from that cash rather than having to dip into your bitcoin at a time that you do not choose including that you may well want to create a situation in which you do not have to draw into your bitcoin for 4-10 years or longer and even in the beginning years if you do draw into your bitcoin, then it is a spend and replace situation in which you are pretty much buying your bitcoin back within a few days (if not within a few hours) of the time that you had sold (transacted in) them for whatever reason...

Aggressive is necessary, but we must be able to place when we should be aggressive when not, logically who doesn't want to be aggressive by continuing to make purchases every week with large amounts? everyone would want to do it, but back again whether we are in a condition that allows us to do it or not. I'm sure everyone wants to buy 1 btc in every purchase, but because of the difficulty of doing that, we (especially me) will definitely do the smallest amount. In short, you can't buy in large quantities, but if you don't want to buy in small quantities, it will eliminate all opportunities. And for me it would be too stupid to miss it.
I actually feel very lucky because I can buy bitcoin in any amount and even though there is a minimum amount it is an amount that we can really do.

I often say this too, that investing in bitcoin requires a lot of sacrifice, especially in terms of time. Our patience will be very tested here, we can't just talk about the sweetness, but also don't miss the bitter taste, and I categorize time as a bitter taste that must remain in my grasp.

I have some difficulties following you.. because you first say that aggressiveness is necessary, then you go on to say all of the ways that you would still be able to profit from bitcoin while not being aggressive.

I think that the punchline remains that each of us can choose our level of aggressiveness, and we might later regret if we were less aggressive than we should have been and what we could have been.

And surely there are people who had been relatively whimpy in their earliest years of investing into bitcoin, but they still made out very well and perhaps even exceeded the performance of many of their other investments, even though they took a pretty whimpy stake in bitcoin.

I think that it is still the case that a lot of institutions and even individuals are failing/refusing to get off zero, and they likely would end up doing quite well even if they merely took a 1% stake in bitcoin.. even though surely I recommend anywhere between 1% and 25% for beginner investors.. and I try NOT to tell people what to do, beyond telling them to get the fuck off of zero, which I would consider a 1% investment to be relatively whimpy but surely a 1% investment into bitcoin is better than nothing, and with high net worth individuals/institutions, 1% still might end up being $100s of thousands of dollars or even into the millions of dollars to merely invest 1% into bitcoin.

And, there are some institutions and individuals who greatly overallocate into bitcoin by going way over 25%, and I am not even suggesting that those decisions are necessarily wrong or overly gambling - unless I might find out more about their financial and psychological situation to cause me to judge their particulars more based on knowing more about their situation.  So anyone or any institution can end up deciding to go outside of my suggestion of a 1% to 25% range based on their own assessment of the situation, but if they have very little knowledge about bitcoin, then I still would suggest that they start out by staying within my recommended range and any deviance should be based on their own studying of their situation and their learning more about bitcoin.

Even though some of the upside potential for bitcoin has likely passed based on early adoption, yet there still seems to be quite a bit of upside potential in bitcoin that could still continue to cause it to be a disproportionately asymmetric bet to the upside and may well still have more than 20,000x upside potential from here.. even though it could still take 50 to 200 years for bitcoin to reach the higher bounds of its upward price appreciation potential (even though some people proclaim that bitcoin is designed to pump forever, but it is more difficult to know if that kind of a design and incentives will continue after there is no more of a block reward.. and perhaps just hodlers continuing to lose access to their private keys and continuing to contribute towards ongoing price pressures on bitcoin, in comparison to any other asset (unless some competitors do end up coming onto the scene)..

It is hard to project out 100s of years, and it is even difficult enough to project out within the lifetimes of any currently living people .. which may be 50-100 years. .. but more realistically, may people are likely investing on shorter time-expectations and expecting payoffs in 5-10 years and sure many of them might feel more patience to be looking out 20-40 years.. and hoping that bitcoin would provide better returns than other investment options that are currently reasonably available to them.

[stompix]

5-digits: You couldn't pay me to go there.
6-digits: There must be a war going on.
Venezuela: WTF

 
Best way to describe things, went through the list again to see if maybe some tropical paradise is there that is flooded by tourists despite the overall look of the country but I couldn't find one, so indeed 4 digits it is.

Yes, of course, I know that very well. We can actually expound this discussion a bit to include certain discrepancies and other harsh realities on the ground, but since OP is simply talking about the minimum wage, then those are the official numbers. This discussion is, after all, basically theoretical.

Of course, it's purely theoretical, nobody living on a minimum wage will ever be able to get a full Bitcoin unless he's forced to do so by some rich parents who will then write him a check of a few million. If some poor guy in India is clutching his pockets as much as he can he will still not be able to put more than 25% on the side even going through even more sacrifices, thus needing a few more lives to finally get one BTC.

The thing is I got tired of the normal stuff and tried something else, and, I have a better idea, I won't be able to make the data so it will be community driven but it will be way funnier, and from my point of view more interesting that talking all day about DCA, ETF when and such stuff.

[Sandra_hakeem]

Stompix,
That chart a good one.. but it'll way better if you solely made observations yourself... You seee, it has everything to do with the enlisted country's economy which isn't something anyone can predict with just a tip from uhhhhh,....from 'em CNN reporters or your cell phone either. Yes!! Maybe you'd need to visit Nigeria on a recreational purpose and, I believe you'll make alot changes to your chart on your WAY home..lol
Buh, ion even know why Turkmenistanians are living in such an adverse condition yet, Ashgabat looks like heaven on earth.. sometimes, I keep wondering...Thirdly, I wasn't seriously expecting the UK to be above US - I haven't done any research prior my posting buh I feel it's not supposed to that way

Sandra 🧑‍🦰