Am I Too Broke To Own Bitcoin?

[icalical]

Maybe you are rushing into investment, ask yourself first whether you are already able to fulfill your basic needs with your current income, if not, then are rushing into investment, you need to get better job with better salary, probably you will need to learn new skill or get better on your current job. When you get better salary and more income, don't climb the lifestyle ladder, stay humble, only then you can start invest, if you still have difficulty fulfilling your basic needs, your needs will force you to sell out your investment.

[1714704840]

1714704840

[Outhue]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

I will like to know your country because earning $3000+ is a lot of money, there is no excuse as an investor in Bitcoin, if you can't hold then you choose not to hold, what I have learned the hardest way is that if you have a job it will be easier to hold Bitcoin for the long term, some people also don't understand how the market cycle works, they are confused about when to buy and hold and also when to start taking some profits, DYOR.

I don't recommend you buying some Bitcoin today and selling the same Bitcoin weeks later because of surviving or bills to pay, if what you are earning from your job isn't enough you need to lower your spending to be able to accumulate some Bitcoin, or you can find ways to make extra income for Bitcoin accumulation only, I know you will need a lot of money but having some Bitcoin in few years in the future will be the best decision you've ever made.  

[Lorence.xD]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

I will like to know your country because earning $3000+ is a lot of money, there is no excuse as an investor in Bitcoin, if you can't hold then you choose not to hold, what I have learned the hardest way is that if you have a job it will be easier to hold Bitcoin for the long term, some people also don't understand how the market cycle works, they are confused about when to buy and hold and also when to start taking some profits, DYOR.

I don't recommend you buying some Bitcoin today and selling the same Bitcoin weeks later because of surviving or bills to pay, if what you are earning from your job isn't enough you need to lower your spending to be able to accumulate some Bitcoin, or you can find ways to make extra income for Bitcoin accumulation only, I know you will need a lot of money but having some Bitcoin in few years in the future will be the best decision you've ever made.  

Earning around $3000 is already huge and it would be impossible for that amount to not have any spare money to invest, you can even take $100 every payroll for you to have funds for investment. To be honest here in my country in PH, with that amount you can already live for many months especially living alone. My technique is that whenever you are gonna invest, never think of it, and also save another spare money for emergency purposes so you won't need to sell your holdings anymore. It might be hard but you need to adjust for your future. Just do the DCA method and timing whenever what time is the best to buy Bitcoin to take advantage of the market and you will profit much more.

[oktana]

Well, I will say it’s not for those who can’t hodl because if you can’t hodl then you will likely sell in a bear market and you’ll be at loss. But u think maybe you are investing more than you can afford to and then you have to take the money back. Don’t go investing a large amount hoping for an increase in a short time. Instead, out of your $3000, you can invest 5% which should be $150. Or you can invest less. It’s not just the amount you invest that matters but even the consistency. Someone who invests $50 monthly and is consistent is better than someone who invests $500 but takes out the money too soon.

[SOKO-DEKE]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

I don't really know the country you are in, but to be honest, $3000 per month is not a small amount of money, but may be you are taking care of a large family, which is why it is not always enough for your needs, and that is why you should always sell your Bitcoin anytime you are holding it. If that is the case, I don't think I have anything to say again, but just to get different sources of income that will make you earn more than the amount you are earning per month currently if you really want to invest and hold Bitcoin for a long period of time.
 
Or maybe the reason why you are always selling your Bitcoin is that you always invest even the money you want to in the short term because if you were to be using like $2500 for your monthly needs and investing like $500, but because of your greed that you want to make more profits, you are now investing like $1500 every month and want to be managing $1500 when you know it can't meet your needs. If you want to enjoy holding Bitcoin, don't always invest the money you may like to use at the nearest time.

[Blitzboy]

I completely understand. Strategic preparation and patience are needed to own Bitcoin. Not always easy, but I HODL. Balance between saving and investing is vital, I've learned. Its about working for a long-term goal without overextending yourself.

Set aside a little, affordable amount consistently for Bitcoin as a long-term investment rather than a quick way to riches. You may join the Bitcoin journey without jeopardizing your finances. Little, persistent investments can increase over time.

Bitcoin might be a side project in your financial plan. Investment diversification is essential. Not putting all your eggs in one basket helps you invest wisely. Long-term dedication and financial health are key. Keep working toward financial independence, and use Bitcoin as a tool.

[Pmalek]

Bitcoin should never be a source of financial difficulties or cause you other problems. If you can afford to buy and hold some until the price increases, do it. But don't trouble yourself and put you and your family into financial insecurity because you want to possess Bitcoin at all costs. If you can, find a way to earn Bitcoin as a salary or part of your salary. Do some freelancing for Bitcoin if you have time.

[SmartCharpa]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

It's not a good idea to use money that we can use in the nearest future for investments because when a problem arises, we will definitely sell whatever we are holding. If you buy bitcoin before, then bitcoin is meant for you. For instance, if you earn $3000 a month, you don't need to invest your all earning at the same time, you can invest half of it and use the other half for something else. Don't spend your entire monthly earnings on bitcoin, in my opinion, that is the best thing you can do before you know you will hold it for a year.

Since our plans different when it comes to purchasing bitcoin, i believe majority of people that are holding bitcoin cannot even earn as much as you can, but they can hold onto it for years. I don't know how money is value in your country, but if someone makes more than $3000, in my country we can't say the person is poor to hold bitcoin because they will still manage and hold bitcoin despite any difficulties. Owning bitcoin doesn't require you to start with a large amount of money, you may start with anything you can afford.  If you manage your money carefully and make a good strategy, you will eventually make a profit.

[Lucius]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
~snip~

What brought you to Bitcoin? How much of it have you accomplished? For me, it is the desire to earn a living off the internet without the encumbrances of a 9-5 job and having clients from all over the world pay me for my services without the limitations and regulations of fiat (a pity Bitcoin is being fiercely regulated too). I wouldn't say that I have accomplished that since I still support my earnings with "regular" jobs. I like the liberty of being in control of my time and how I work though I still have not gained that liberty completely. Nevertheless, I believe that with the plans I've implemented, being completely free from a 9-5 or "regular" is possible in 2 years.

How about you think a little and put some things in order in your head and stop thread spamming? First you claim that Bitcoin will help you to be financially free in 2 years, and now you admit that you don't own Bitcoin at all? The problem is that you don't have a strategy at all, because otherwise you would already have a solid stock of BTC that you could keep for the long term.

It is quite logical that you sell BTC or use it as a currency, but is it such a big problem that you take 10% of every job you get paid for and invest in Bitcoin? Therefore, I would not say that your problem is that you are too broke, but that you simply do not know how to deal effectively with what you have.

[OddJobsForBitcoin]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
~snip~

What brought you to Bitcoin? How much of it have you accomplished? For me, it is the desire to earn a living off the internet without the encumbrances of a 9-5 job and having clients from all over the world pay me for my services without the limitations and regulations of fiat (a pity Bitcoin is being fiercely regulated too). I wouldn't say that I have accomplished that since I still support my earnings with "regular" jobs. I like the liberty of being in control of my time and how I work though I still have not gained that liberty completely. Nevertheless, I believe that with the plans I've implemented, being completely free from a 9-5 or "regular" is possible in 2 years.

How about you think a little and put some things in order in your head and stop thread spamming? First you claim that Bitcoin will help you to be financially free in 2 years, and now you admit that you don't own Bitcoin at all? The problem is that you don't have a strategy at all, because otherwise you would already have a solid stock of BTC that you could keep for the long term.

It is quite logical that you sell BTC or use it as a currency, but is it such a big problem that you take 10% of every job you get paid for and invest in Bitcoin? Therefore, I would not say that your problem is that you are too broke, but that you simply do not know how to deal effectively with what you have.

You should rather read with understanding and stop jumping into conclusions because you've already made up your mind on what you want to type. There was nowhere I specified that it was Bitcoin that would help me gain financial freedom in 2 years.

[0t3p0t]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

If you got $3,000 a month that is huge mate compared to my monthly income of just $150 all in all. But with $150 I still managed to have $100 worth of Bitcoin monthly though it was from a signature campaign, I was just  confused but yeah maybe you also got some liabilities. I believe we can achieve financial freedom with Bitcoin as long as we keep on buying or hodling we just need to be patient.

[Baki202]

Maybe you are rushing into investment, ask yourself first whether you are already able to fulfill your basic needs with your current income, if not, then are rushing into investment, you need to get better job with better salary, probably you will need to learn new skill or get better on your current job. When you get better salary and more income, don't climb the lifestyle ladder, stay humble, only then you can start invest, if you still have difficulty fulfilling your basic needs, your needs will force you to sell out your investment.

The individual can pay for their needs if the need is met. There won't be an issue because everyone wants to invest in bitcoin and some people are unable to pay their bills or even make ends meet. I am aware that if I have money or a job, I have learned from others that having other enterprises or a job is necessary to enjoy being an investor. Additionally, there are many talents that are currently in high demand, but the reality is that not everyone will invest in bitcoin. If this is the case, your best option is to hunt for alternative sources of income. All that people desire is fast money.

Yes, maintaining humility is one of the best traits to have when looking for money. After all, everyone can use money for investments or for luxury. But before someone can enjoy themselves, work hard and make money.

[arwin100]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

I can say its fine as long as their are earnings comes in your wallet then this is good so don't get pressured about those holdings since once you gain a lot of experience for sure there will be a lot of clients will hire your service and from that you might have enough money to spend to buy bitcoin for HODL. So don't focus on negative things and much better if you put some attention on how you can enhance your skills and get better salary once you became a quality worker.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

You mean you are earning below $3000 a month? or year since if you are talking about for months then this is huge since not everyone is capable to earn that amount monthly and for sure there's a lot of things can be done with that amount since you can buy some small fraction of bitcoin for extra money you have. BTC holding might not for everyone but you can do something so that you can expand your knowledge then next to that is your earnings and for sure maybe in future you can afford to hold because you are earning well with those extra curricular activities done here or maybe even outside of this platform.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

Yes I'm comfortable with it and I may not have capabilities to buy a whole but trying to accumulate some volume so whatever percentage intended for doing this is already fine. Just keep dreaming everything is possible.

[Lucius]

You should rather read with understanding and stop jumping into conclusions because you've already made up your mind on what you want to type. There was nowhere I specified that it was Bitcoin that would help me gain financial freedom in 2 years.

Maybe then you should write about your business illusions somewhere else, not on the Bitcointalk forum? Have you noticed that your topics are disappearing or being locked? The forum is sending you a message, and if you continue in the same direction, you will surely have much more time for your odd jobs

[jcojci]

Holding bitcoin is for everyone but it depends on how capable they are of holding it. Most people want to hold bitcoin until the bull run but in reality, not many can afford to keep holding it. They panic too much when holding it and when there is negative news, they rush to sell it because they fear the price will decrease further even though it's not like that. The price did decrease but it was only temporary and gave them the opportunity to buy more. That's what they don't understand.

With that income, you can start investing in bitcoin by buying little by little and regularly so you can collect bitcoin before the bull run comes. That will give you the opportunity to sell the bitcoin at the latest ATH price later. Many people have felt the benefits of bitcoin so they still want to continue investing in bitcoin.

[pawanjain]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

If you are selling your coins for genuine reasons then you are doing good. If you are investing in bitcoin and still paying all the bills then you are doing good.
But if you are spending lavishly or have a luxurious lifestyle and still complaining about not being able to HODL bitcoin then you are doing something wrong.
If you are earning $3000 from your job then you must learn money management to track your money spend it wisely.

[Raflesia]

Do you earn $3000/month? If that's the case then your income is actually more than enough and even if it's per year I think it's still very large because if we talk about comparisons with salaries in my country which are still in the average range of $200-$300 it's actually almost the same.
Especially if it's $3000 per month then I really don't understand what kind of needs you have until that much money is not enough to fulfill your needs for one month.

Investing in bitcoin is not a demand and do it while you can but when you often buy and sell bitcoin that you have it is not an investment but I might classify it as trading.
As for when you sell the bitcoin that you have actually it is also not wrong if indeed you have made a profit from there regardless of the need or not as long as it is profitable and you think selling is the best choice then why not because again this is about your own choice.

Such amount is already high considering the regular monthly salary of an employee.
He can very well afford to buy some btc every month if he truly believes in this market.
But if he has high-end lifestyle, of course, such amount is not more than enough.
But having that monthly amount of income, I would spare some money to investments and not just luxury items.

Now it just depends on the actual belief because seeing from what the OP is talking about he doesn't even hesitate to sell even though bitcoin is correcting and the price is detrimental to him to sell so there are a few things I can take in this case.
First, the op does not really understand what is meant by investment because he only tries his luck and sells when prices are bullish but because of his lack of knowledge and several other conditions, he also feels very panicked and does not hesitate to sell when he is in a loss in the hope of buying at a lower price.

If it's like this continues to be done then I think what's the point of being in bitcoin if you don't really understand how it works because it's like gambling that uses instinct alone without any knowledge in it.
Although there are other considerations because it could be that he lives in a big city in a developed country that does require high finances for living expenses but actually $3000 is a large amount and it depends on the lifestyle as well even though living in a big city in a developed country if in the end we can manage finances well then that amount will not burden him for one month.

[Stalker22]

You should rather read with understanding and stop jumping into conclusions because you've already made up your mind on what you want to type. There was nowhere I specified that it was Bitcoin that would help me gain financial freedom in 2 years.

Alright, buddy, take a chill pill. We are just having a discussion here, nobody is attacking you.

If you want people to understand you better, maybe you should try explaining yourself more clearly. "OddJobsForBitcoin" is your username, right? So what were you talking about if not Bitcoin? Be specific.

[_BlackStar]

To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.

To get returns from bitcoin - you don't have to be a holder. You can exploit price volatility to gain profits - but holders believe that bitcoin can give them more returns if they hold it longer.

In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone?

Yes - especially if you have nothing in your budget other than bitcoin. You should have reserve funds that can help you in times of need - that means you have more options when you need money besides just having bitcoin.

Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.

300% is a good return to ignore - I don't have it yet, maybe the time will come to get that much return. As of now I still feel comfortable being a holder - the volatility doesn't affect me, it's just an important part of this very free market.

[OddJobsForBitcoin]

You should rather read with understanding and stop jumping into conclusions because you've already made up your mind on what you want to type. There was nowhere I specified that it was Bitcoin that would help me gain financial freedom in 2 years.

Alright, buddy, take a chill pill. We are just having a discussion here, nobody is attacking you.

If you want people to understand you better, maybe you should try explaining yourself more clearly. "OddJobsForBitcoin" is your username, right? So what were you talking about if not Bitcoin? Be specific.

Alright buddy, no hard feelings. Slightly pissed with their presumption that it's Bitcoin I'm depending on to reduce financial stress though I made it clear I barely HODL. My Odd job business is just a side job to help keep the pressure down. My main business has got nothing to do with Bitcoin. That's what I hope to retire on