Combination of the young age correlated with Bitcoin for the future

[Mauser]

Basically, we know that Bitcoin is something like a safe haven.
Do you have any tips or how would you behave if you were in a similar situation?

Thank you for your input.
And I hope I can motivate him a bit with these inputs.

Friendly HODL

That is a nice crypto portfolio your friend has and if he acts well and keeps investing, he could grow it much more in the future. Owning 1 or even 4 BTC would be my dream and eventually I am going to reach that as well. Having so much money at a young age is a good thing, but also can have it's problems. It might seem a lot for the average spending of someone in his 20s, compare it now over the next 30 years the picture looks different. Even if our friend manages to sell his coins during the next big bull run, he is going to be stuck with his Fiat money again. Depending on where you are living, inflation could be a huge problem that could take away the majority of the value your savings. The best way to protect yourself from the inflation would be to buy an apartment in your city, you could either rent it out or live in it yourself. The problem here is that in many places 4 BTC is not going to be enough to get a decent apartment, you will have to take out a loan for it. Which means you still need to have a decent paying job to cover your living expenses and the repayment of the loan. I would recommend your friend to keep HODLing and grow his crypto portfolio even more, maybe diversify into some alt coins.

[1715032281]

1715032281

[1715032281]

1715032281

[1715032281]

1715032281

[1715032281]

1715032281

[1715032281]

1715032281

[The Cryptovator]

We all know that holding Bitcoin would give your friend good profits. But we don't know his actual situation. We have to remember Bitcoin for life, not just hold it for a lifetime, and that he can't spend his earnings in his lifetime. If it is necessary to survive, then he should sell a part of Bitcoin that he actually needs. The rest could be held for a long time. Often, I sell my holdings when I need them in real life and buy them back when I can. This is part of regular life. So don't let him be confused. A bull run seems almost imminent and could make good profits from bitcoin investment.

[thecodebear]

Hello everyone

I have a very good friend who owns almost 4 Bitcoin in his early 20s.
However, he told me he didn't know exactly what to do in his current situation(life).

He doesn't know whether he should sell these 4 Bitcoins in the next bull run in order to live his life, since he is in his early 20s, or whether he should continue to work and stack, since the Bitcoin can continue to rise steadily.
He finds himself in a mental dilemma between.

Basically, we know that Bitcoin is something like a safe haven.
Do you have any tips or how would you behave if you were in a similar situation?

Thank you for your input.
And I hope I can motivate him a bit with these inputs.

Friendly HODL

So he is wondering if he can quit working? To retire permanently? Or just not worry about taking work seriously and only work here and there or something?

He only has 4 Bitcoin and is in his early 20s. He's not going to live his life on 4 Bitcoin if he sells in the next two years.

If he lets his Bitcoin sit (and accumulates more) he can probably retire off his Bitcoin in 15 years when he's in his mid-30s, selling/spending his Bitcoin gradually for the rest of his life. But at his age and at the current price range (or top of this market cycle price range) that wouldn't work for him now. He is just starting his adult life / working life, he should be focused on that, not on selling his Bitcoin. There is no reason to stop working when you're at the point in life when you've barely even starting working!

He should try to accumulate like one more Bitcoin in the coming years (or however much he can) and then once he can cover an entire year's cost of living for himself from like 0.2 BTC (I'm guessing this would be sometime in the 2030s) he could stop working if that is what he wanted to do with his life. Let's say he can get up to 5 BTC, divide 0.2 per year from that and you get 25 years of living, but with only selling what he needs to live on each year and with the over time increasing price of Bitcoin he'd eventually be living off less than 0.1 BTC/year, later in life less than 0.05 BTC/year. Though also think about buying a house, he would probably want to buy a house BEFORE he quits working to live off his Bitcoin so that as part of his living expenses he is just paying mortgage and doesn't have to come up with a downpayment. That should work as long as he is conservative in his financial planning and ideally has more than just those Bitcoin when he retires, like as mentioned has already bought a house, has some other investments, and has a good amount of cash when he stops working. So right now he is no doubt still far away from all that.


For an anecdotal reference, I retired 4 years ago off my Bitcoin, when I was 36 years old. I had over 6 times as much BTC as he has. I also had no debt and had some Ethereum and my cash in the bank would also cover my cost of living for two years. Didn't and still don't have a house, as I knew I'd be able to buy a house later on using my Bitcoin. Also I knew I'd need to be living a pretty frugal life for my first few years in retirement (I could have worked for a couple more years, accumulated more Bitcoin, and not needed to be so frugal, but I just really wanted to quit my job when I did and didn't want to find a new job. If I had been enjoying my current job I definitely would have stayed for another year at least to get in an even stronger financial position before retiring). While I haven't worried about my long term retirement, I have worried about the current amount of cash I have at a few times over the past four years, because I don't want to be using much Bitcoin at this point in life while the price is still small. Only now, over the next 12 months, as this bull run gets going will I likely never have to worry about my finances again and should be able to buy my first house in 2026 after this bull run. And even now I'm looking to try to start a business so I don't have to solely rely on my Bitcoin so I can be in an extra extra safe financial position for the rest of my life.

Your friend is early 20s, there is no reason for him to try to rush things. Whether he wants to fully retire early, or just not have to take a career seriously and only work here and there or work part time or seasonally or whatever, he is not nearly at the point where he can do that yet and he can improve his lifelong financial position many times over by working into his 30's and continuing to accumulate Bitcoin and grow his wealth before he starts spending it down. Of course it depends where he lives and what his cost of living is. If he lives in an expensive country he should work and wait longer, while if he lives in a poorer/cheaper country he still needs to work and wait but may have to do that for a few years less. Also what does he want to do with his life? Does he want to travel a lot? If so he's going to have to wait longer as that means a more expensive life. No matter what, he should be focusing on working for a good number of years still and building his wealth before he focuses on spending his wealth.

[Rengga Jati]

He doesn't know whether he should sell these 4 Bitcoins in the next bull run in order to live his life, since he is in his early 20s, or whether he should continue to work and stack, since the Bitcoin can continue to rise steadily.
He finds himself in a mental dilemma between.

For his age of 20am, it's actually pretty good that he has 4BTC, so why does he have to be in a dilemma with that much money. Moreover, how much does it cost to live if you need that much money to sell BTC? Actually, he doesn't need a dilemma, just what his targets and goals are and what his immediate needs are. In my opinion, she is still classified as mida, so it's better to keep it for now, because the needs after marriage will be much greater. Even if you want to take profits or sell to meet your needs, you can only sell a few points, not the whole 4BTC. Unless you want to take profits in a bullish era and invest them in the next bearish era.

[panganib999]

I say divide his holdings in half, and then diversify his portfolio with the 2 bitcoins that he will have. Bitcoin is great and all but there’s not much orofit to make with it anymore at least compared to new kids on the block in the industry, and diversifying your portfolio like this minimizes the ridks of incurring impermanent losses in the future. So you’re getting a win-win situation out of this one.http://I suggest for him to not sell his bitcoins that eary as most bull runs drag on for months or even a whole year., so allow hineelf to maximize his potential profits actually.

[mirakal]

Hello everyone

I have a very good friend who owns almost 4 Bitcoin in his early 20s.
However, he told me he didn't know exactly what to do in his current situation(life).

He doesn't know whether he should sell these 4 Bitcoins in the next bull run in order to live his life, since he is in his early 20s, or whether he should continue to work and stack, since the Bitcoin can continue to rise steadily.
He finds himself in a mental dilemma between.

Basically, we know that Bitcoin is something like a safe haven.
Do you have any tips or how would you behave if you were in a similar situation?

Thank you for your input.
And I hope I can motivate him a bit with these inputs.

Friendly HODL

As a young adult, I don't think he can easily make long term hodling successfully without being tempted to sell at some time. So I suggest that in order for him to still enjoy the profits and live his life, selling a portion of his bitcoin is not bad at all and the remaining coins should be intended already for long term hodling.That way, he will not be eager anymore to gain profits because he has already tasted the fruit of his labor.

Bitcoin is a very valuable asset and that the longer it's being hold, the more it's going to appreciate its value. Long term hodling is certainly the key, but from time to time he should also learn to take part in selling especially when the market is bullish so that he can also buy back again with a cheaper price, with that he can easily improve the volume of his bitcoin portfolio and expect for massive profits in the future.

[wxa7115]

Hello everyone

I have a very good friend who owns almost 4 Bitcoin in his early 20s.
However, he told me he didn't know exactly what to do in his current situation(life).

He doesn't know whether he should sell these 4 Bitcoins in the next bull run in order to live his life, since he is in his early 20s, or whether he should continue to work and stack, since the Bitcoin can continue to rise steadily.
He finds himself in a mental dilemma between.

Basically, we know that Bitcoin is something like a safe haven.
Do you have any tips or how would you behave if you were in a similar situation?

Thank you for your input.
And I hope I can motivate him a bit with these inputs.

Friendly HODL

Your friend is in a position that many people would envy, so while in a way it makes sense that he feels lost as he can literally take any path that he wants, there is not reason to worry at all as almost any path that he could take is a good one.

If he decides to sell during the next bull run then he will find himself with a lot of cash in hand which he could use to buy a house, or several depending on how high the price of bitcoin becomes and the price of houses where he lives, this is a move that could basically secure his future, but that will limit the profits he could get on the short term if he decided to invest in bitcoin again, however if he decides to hold and keeps buying bitcoin then he may not enjoy that money now and he will need to maintain a frugal lifestyle, but in a few years he will be able to buy way more stuff than what he could buy during the upcoming bull run.

[Patrol69]

The decision for your friend is very easy, currently the Bitcoin market is in a bull run and the market condition looks like it will last long so if your friend does not need the money very much then he should hold his investment. Even if your friend has a need, he may be able to meet his needs in other ways, so holding on to bitcoins would be a good decision for him at this time. If I were your friend I would definitely hold the bitcoins. The price of Bitcoin is close to $40,000 and it was expected that the price of Bitcoin will reach $40,000 within two to one day. It's only a matter of time before the price of Bitcoin reaches $40,000, maybe if it crosses the $40,000 barrier, Bitcoin will hit a bigger price.

[Luzin]

I would definitely hold the bitcoins. The price of Bitcoin is close to $40,000 and it was expected that the price of Bitcoin will reach $40,000 within two to one day. It's only a matter of time before the price of Bitcoin reaches $40,000, maybe if it crosses the $40,000 barrier, Bitcoin will hit a bigger price.

Holding is not that easy. There are many temptations that come to take off immediately. I believe if BTC can exceed ATH. So the restraints must have a strong mentality. So maybe holding until ATH is the best option. Even I have a new target ATH. So when you hold you also have to understand when you take it off. Take off to buy back when the price drops. I always have bullish periods of rising prices and falling prices bottoming. So sell when your target is reached and buy again when the price is low. Because how many periods of the cycle occur are always the same.

[AmoreJaz]

I would definitely hold the bitcoins. The price of Bitcoin is close to $40,000 and it was expected that the price of Bitcoin will reach $40,000 within two to one day. It's only a matter of time before the price of Bitcoin reaches $40,000, maybe if it crosses the $40,000 barrier, Bitcoin will hit a bigger price.

Holding is not that easy. There are many temptations that come to take off immediately. I believe if BTC can exceed ATH. So the restraints must have a strong mentality. So maybe holding until ATH is the best option. Even I have a new target ATH. So when you hold you also have to understand when you take it off. Take off to buy back when the price drops. I always have bullish periods of rising prices and falling prices bottoming. So sell when your target is reached and buy again when the price is low. Because how many periods of the cycle occur are always the same.

but the dilemma lies on when will that ATH period will come. and to what extent he will hold his bitcoins? he can very well buy more if he has the financial capacity to do so. but first and foremost, what kind of belief he has on to this market? it is easy to sell if one think he needs to get profit from what he has. but if he has strong belief on this market, he would hold it in long-term. also, if he has also the capability to hold it long-term without thinking that he needs to sell to finance his daily expenses. if it is just his spare money, then it would be much easier for him to hold without being agitated of cashing out.

[Viscore]

Hello everyone

I have a very good friend who owns almost 4 Bitcoin in his early 20s.
However, he told me he didn't know exactly what to do in his current situation(life).

He doesn't know whether he should sell these 4 Bitcoins in the next bull run in order to live his life, since he is in his early 20s, or whether he should continue to work and stack, since the Bitcoin can continue to rise steadily.
He finds himself in a mental dilemma between.

Basically, we know that Bitcoin is something like a safe haven.
Do you have any tips or how would you behave if you were in a similar situation?

Thank you for your input.
And I hope I can motivate him a bit with these inputs.

Friendly HODL

It's always good to sell and reward yourself after years of hodling your bitcoin. My suggestion is he can keep holding all his coins for another long term if he's not needing the funds at the moment. But if he wants to enjoy life also from the profits of selling his coin, that is also very possible by selling even one of his coin so he can reward himself and buy the things he wanted to buy, and the rest would be good for long term hodling. I guess that would be fair enough for him so he will be motivated again to wait for another long years and gain massive profits.

However, if his intention is to make all his bitcoin for his family's future or for their retirement, I guess this one is a lot better. Bitcoin will be more profitable if held longer years, so still long term hodling is the key with a lot of patience and understanding the highly volatile market.

[Distinctin]

It depends — what does he mean by "in order to live his life"? Because 4 BTC is actually a good amount of money.

If it's for education, then sure as long as he has thought it out. Or if it's for some other purpose that'll be worth it in the end.
If it's for partying and/or dating, then uh.. probably not. Probably just sell a very small amount? You don't need to sell everything.

Work-life balance is always the key; it's not one or the other.

Selling would not be a bad idea though if he'll do it with a purpose, to buy a new project or to enter into another profitable and secured investment. He can sell one or two of his bitcoins to cater the amount he needs. But if his purpose is for only leisure and fun, think twice if you really want to sell. When you sell, that means you will lost the opportunity to make future profits.

However, selling just a small portion is fine if he wants to live his life at the moment. Of course, it's still a good feeling if you have time to reward yourself after a long effort from long term hodling.

[Patrol69]

I would definitely hold the bitcoins. The price of Bitcoin is close to $40,000 and it was expected that the price of Bitcoin will reach $40,000 within two to one day. It's only a matter of time before the price of Bitcoin reaches $40,000, maybe if it crosses the $40,000 barrier, Bitcoin will hit a bigger price.

Holding is not that easy. There are many temptations that come to take off immediately. I believe if BTC can exceed ATH. So the restraints must have a strong mentality. So maybe holding until ATH is the best option. Even I have a new target ATH. So when you hold you also have to understand when you take it off. Take off to buy back when the price drops. I always have bullish periods of rising prices and falling prices bottoming. So sell when your target is reached and buy again when the price is low. Because how many periods of the cycle occur are always the same.

As easy as it is to plan, it is not so easy to implement the plan. We can easily say that I will invest in Bitcoin and hold that investment or we can easily plan this while planning but when we actually try to hold Bitcoin for a long time after purchasing it we realize how difficult it is to hold Bitcoin. I really liked the fact that a member on Bitcoin Discussion made a post where a meme was used to explain how to hold Bitcoin and it seemed realistic to me. The meme of the member was that while planning we think the hold is like a clear and straight road but after the hold we realize the road is very difficult and has many ups and downs. Even though the road to hold is difficult, he crosses the difficult road if we can hold for a certain period of time then there an investor is successful.