Just Another Good Source Of Motivation For You ...

[The Cryptovator]

The concept is quite impressive. Imagine if you had embraced this idea a decade ago and held onto your investments without selling. By now, you would likely be one of the wealthiest individuals in the world. This thought experiment is something I occasionally indulge in.

For instance, today someone paid me $1000 worth of ETH, which is more than 0.5 ETH. To capitalize on the opportunity, I decided to purchase an additional 1.5 ETH, bringing my total holdings to 2 ETH. Without any intention of engaging in short-term trading, I securely transferred the purchased ETH to my Ledger wallet. The same strategy could be applied to Bitcoin as well.

The idea is to hold onto these assets with a long-term perspective, potentially reaping significant benefits over time due to their appreciation in value. It's fascinating to ponder how such a simple yet powerful strategy could lead to substantial wealth accumulation.

[Japinat]

This pretty much applies to investing in general and saving money in general. But a huge majority of people aren't really interested in investing (or worse, saving) unfortunately.

Just a heads up that eating a good pricey meal is great once in a while though. Don't deprive yourself too much of your happiness.

It’s certain that when people enter any investment, there will always be doubts and hesitations before one can finally realize that investing is the best option. However, not all have the same mindset when it comes to bitcoin investing, that’s why a lot would not dare to spend on bitcoin but spend a lot of money on eating at expensive restaurants. Even myself I was like that before, and I think treating yourself somehow is not that bad at all.

[JoyMarsha]

Due to my own experience with this line of thinking, I can relate to this better. I've learned to live a less extravagant lifestyle ever since I learned what the future of my Bitcoin investment holds. I am more frugal with my money and have been thoughtful in my life's financial transactions. No matter how little money I have, my goal is always to invest more in bitcoin rather than filling my stomach with food that won't keep me full for more than a day. This is what Bitcoin can do to those who believe it holds the key to their future. They are prepared to alter their lifestyle in order to achieve their goals, even if it means investing in Bitcoin once a week or once a month.

[darkangel11]

The concept is quite impressive. Imagine if you had embraced this idea a decade ago and held onto your investments without selling. By now, you would likely be one of the wealthiest individuals in the world. This thought experiment is something I occasionally indulge in.

For instance, today someone paid me $1000 worth of ETH, which is more than 0.5 ETH. To capitalize on the opportunity, I decided to purchase an additional 1.5 ETH, bringing my total holdings to 2 ETH. Without any intention of engaging in short-term trading, I securely transferred the purchased ETH to my Ledger wallet. The same strategy could be applied to Bitcoin as well.

The idea is to hold onto these assets with a long-term perspective, potentially reaping significant benefits over time due to their appreciation in value. It's fascinating to ponder how such a simple yet powerful strategy could lead to substantial wealth accumulation.

Many long-term bitcoin holders focus on securing as much as they can and saving for 10 years and more. You can hear some of the interviews with these people on youtube channels, especially the ones that promote self -custody and holding like Swan Bitcoin. What it comes down to, these people aren't interested in this cycle and the profits it might bring. They're interested in a cycle that comes 8 years from now, or 12 years... It's amazing that we're witnessing the rise of a new group of investors. Essentially gold bugs in the cyber realm, who know how important this technology is for our freedom and independence.

[Falconer]

-snip-

Many long-term bitcoin holders focus on securing as much as they can and saving for 10 years and more. You can hear some of the interviews with these people on youtube channels, especially the ones that promote self -custody and holding like Swan Bitcoin. What it comes down to, these people aren't interested in this cycle and the profits it might bring. They're interested in a cycle that comes 8 years from now, or 12 years... It's amazing that we're witnessing the rise of a new group of investors. Essentially gold bugs in the cyber realm, who know how important this technology is for our freedom and independence.

OP's mindset is fine to adopt, but I don't know how many people actually spend $100 - $200 a day consistently just to feed their stomachs specially those who know about bitcoin. That was the question that was on my mind right now, but obviously some rich people spend a lot more than that.

$100 to $200 is what my family and I spend in a month to eat needed, that's too much to spend in a day. But the investment idea based on thrift is a good one, even if they can only save $10 a week by not spending it on things they don't really need.

[_BlackStar]

-snip-

It’s certain that when people enter any investment, there will always be doubts and hesitations before one can finally realize that investing is the best option. However, not all have the same mindset when it comes to bitcoin investing, that’s why a lot would not dare to spend on bitcoin but spend a lot of money on eating at expensive restaurants. Even myself I was like that before, and I think treating yourself somehow is not that bad at all.

It seems true that not everyone is aware that bitcoin is one of the investment assets that has the potential to generate profits for its investors. Only people who are aware of bitcoin will invest in bitcoin - so the idea mentioned by the OP is only suitable for those who are aware of bitcoin.

People can save money - but not all of them will invest it in highly volatile assets like bitcoin. This advice is good for anyone who is prepared for the consequences of risk with bitcoin - that includes its price volatility as well as the security of your storage wallet. Spending $100 to $200 in one day to eat is bad - I think it's wasted money, even if you're a tycoon.

[Kelvinid]

Because we never think about the future but rather choose to enjoy our life today and spend money as much as we can. Well, rich people can do that because they already have financial freedom and it was okay. But for those who are not, the idea of spending more on things that give back nothing like just spending on fancy things was a huge mistake. It was very unfortunate but can't force people to rethink their wrongdoings because what it is in their mind is that they only live once, - and they just wanted to enjoy and reward themselves for working hard even if it drains their savings.

[hatshepsut93]

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

[CryptSafe]

I have had this experience years past when I was a student. During my undergraduate days at the University. I go club every friday and you know what that means. Spending money on drinks and other stuffs friday nights was a habitual thing although the money was not the issue but it was just for fun. I did this until one day the thought came over me to do some calculations on my weekend expenses at the club. I noticed the money I spend on weekly basis for clubbing with my friends was  enough to buy some shares and to start some little business engagement as at then.  I had no knowledge of Bitcoin because if I have heard about it then possibly, I would have bought some Bitcoin and possibly I would have made some big fortune from it then but  the knowledge about it wasn't there.

What am I  trying to say is that sometimes the money is not the issue but knowledge about the investment. Just like what I have read from the post about the  money people spend on luxury, some do it at their own merriment while some that can afford it do invest in it. It is all a personal perspective. To some the bucks is a million times important for them while for some it is just a trash to them. Different folks with different lifestyle and business orientation.

[aoluain]

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

I suppose the analogy used in the OP can be taken as a lesson in prioritising where
and on what anyone can spend their money on, as coolcoinz points out on the
first reply on page 1 - its just stupid at this stage not to have Bitcoin if you can afford
to spend a $100 or more at a restaurant.

Then again most people dont go around flaunting their Bitcoin hodlings and those that
spend that kind of money at a restaurant could possibly have Bitcoin too!

[hugeblack]

The dude, who ever he is said, "if he can spend a $100 to $200 dollars daily on food and drink, and wake up the next day to piss and shit it out without bothering whether there be profit or not, then not a bad idea to spend some of that money buying an asset that has the potentials of earning you some profit, no matter how small".

I agree with you in principle, but it is difficult to find individuals who have the luxury of saving 100 to 200 dollars for several years and then waiting for several years to achieve wealth. Most people do not have enough money for food and drink expenditures.
The solution can be to try to reduce it to a minimum and then try to have a surplus, but this requires severe discipline, as human nature loves spending a lot.

This is if we ignore problems such as unemployment, high taxes, customs duties, inflation, exchange rate problems, insurance, etc.

[xSkylarx]

I am the kind of person who really gets into motivational quotes that really hit me hard and make me think something, which is the same with the statement that you can ponder since it is true. The problem really is that when it comes to investing, we are always thinking of profit, but when eating at expensive restaurants, we are just expecting good food, and again, you are just going to spit it out by tomorrow. I would be downloading this image just to remind me whenever I needed it.

[bitzizzix]

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

You're right, and I think hundreds of dollars just to go to a restaurant or spend it in a day can be considered rich. And they can spend it because they have more money or have a large income, so it doesn't apply to those who only spend $10/$20 a day on their needs because they think hard and put their needs first to survive.
and people like that who can spend hundreds of dollars to invest in bitcoin or other investments but i think they do or do any other business that supports it to do anything because of financial support.

[komisariatku]

About a month ago I ran into an old friend. We chatted a lot until he told me about his interest in learning stocks and had started setting aside 10% of his monthly salary while learning stocks. He planned that when he understood the stock business, he would increase his stock savings by 30% of his monthly salary. We had several discussions about stocks, future prospects and risks.

Then I asked him if he knows bitcoin? he said he knew a little but had no interest in bitcoins. I explained about bitcoin and its price movement from 2009 until now. Then he was quite enthusiastic about the fantastic increase in the price of bitcoin. Until finally I recommend 5% of his salary for bitcoin. I explained the risks and he had to be prepared if the money was lost. He agreed and for him 5% of the salary is not a serious problem as he is still single.

I usually don't dare to recommend someone to invest in bitcoin, because the risk is big. It's just that he has good finances and is an old friend, so I dare to give a recommendation to buy bitcoins and hold them.

I think what I did is almost similar to the quote you attached

[dothebeats]

Well this is one way to motivate someone. It is also a good way to attract people on why it is not necessarily a waste of money to invest in general. It's like saying if you can spend a few hundred dollars over something that will only give you temporary enjoyment I'm sure you have some change in your pocket to invest on something that may double the money back. It's a good way to persuade people without offering false expectations.

[Lorence.xD]

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

That statement for sure has a target audience because typically people who can afford to spend hundreds of dollars in a restaurant would be rich people or successful people. So maybe that statement is for people who would go to a expensive restaurant despite the budget and impracticality just to show that you can afford the food. We need first to have a good investment to secure your financial status which we can apply in investing in Bitcoin. If you can afford something expensive which cost almost all of your salary why not just invest some into Bitcoin right? There might not be special in this context but it's hilariously motivational to people who would spend all their money in temporary things.

[KiaKia]

It is no point eating comfortably every day if you do not invest money. I use to tell my younger ones too, if you do not do anything, 10 years will still pass you by and you will have nothing to show for it. There's nothing wrong with investing most of your money into Bitcoin and using the rest to survive.

Those who live their life base of risky investments are always the ones who take the top, and trust be told, Bitcoin is now on a journey of becoming a less risky investment, it's riskier not to have any Bitcoin right now because if in near future the US embrace Bitcoin completely, that will be a game changer and loads of people will then start rushing in, not to miss out but they have already missed out because they fail to accumulate when no one cares.

[SamReomo]

It is one of the best ways for Motivation ever and it's true at the same time. The comment is very true and we all know that, and yes instead of wasting a lot of money on our eating habits we can save a little amount of money each day or week and spend that on Bitcoin. I know that no body will get rich by investing such amount of money on Bitcoin, but still something is always better than nothing, and the ones who invest some amount of their money on Bitcoin will have a better future as compare to the ones who spends that money on unnecessary things.

I know that there are people who won't be spending more than $2 to $5 per day on the food or other items because they live in areas where they don't earn a lot of money and that's why they can't spend a lot of on food or other items, but the ones who spend $10 or more per day on their food should learn a good lesson from this comment, and they should try to reduce their eating expenses and invest a little amount of their money on Bitcoin at least.

[gunhell16]

I remembered something in that quote, which is when a person has a vice and spends it every day like being a smoker, a pack of cigarettes here is now worth 2.3$, there are other smokers who gets 2 packages a day and the equivalent of that is 5.6$ daily which in a week is in the amount of 39.2$, if he shifts his habit of investing in Bitcoin it is possible that this person will be lucky in the future.

than the price of cigarettes daily which is damaging to his health is not a good habit, at least if this is what the person will do, it will be profitable for him to spend every day on his Bitcoin habit. But this is just an example of my illustration.

[Die_empty]

It is no point eating comfortably every day if you do not invest money. I use to tell my younger ones too, if you do not do anything, 10 years will still pass you by and you will have nothing to show for it. There's nothing wrong with investing most of your money into Bitcoin and using the rest to survive.

You have to eat a balanced diet every day to live a healthy life. If you don't eat well, you might become sick and even die. There are some basic needs that we cannot compromise because we want to invest. I don't support cutting or managing our budget on essential needs because we want to save money. But it's important not to waste money on unnecessary things, especially things that one can do without. Spending money on alcohol, cigarettes, designer clothing, and other luxury should be cut and such funds should be transferred to investments.

Some people have wasted their fortune on some trivial matters that should have been avoided. For one to be able to save and invest in these current harsh economic conditions, one needs to sacrifice pleasure and luxury. No matter how little we earn, we must keep saving and investing because the future is unpredictable.