Am I Too Broke To Own Bitcoin?

[milewilda]

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.

Our salary doesn't match with the price of bitcointalk but we ensure to be more careful when it comes to been on a safer side because it's clearly not anyone intentions to reap losses from the market. Bitcoin is important for everyone of us that picks interest in crypto, it's very important we dwell in good shape and abide on good rules, that's winning and profiting from the market in both bearish and bullish season. Bitcoin is affordable in different peice because it's not compulsory you own a whole one of bitcoin, because having one Bitcoin in your portfolio, is good starts to kickoff when the bull season finally arrives.

It would be wise that you should really be that only investing on the amount on which you can afford to lose and never ever consider on making use of money which is really that intended for those important reasons.
In this case, if ever shit happens then you wouldnt really be able to pull those investment since you do already have that allocated funds for that one. Yes, not all would really be having that the same situation when it comes to their earning on which we do have different jobs with different paychecks plus having that different expenses on which means that financial capacity when it comes to Bitcoin investment would really differ.
Just dont make yourself having those discouragement just because you cant be able to store up huge amount of coins.

Do it on a gradual phase and in moderation, try out to save as much as you could without having that desperation in mind. You should really be that wary about the risks
about Bitcoin investment too. If  you do tend to hold for long then try out to have that good financial management on everything at least.

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[Abu-Naim]

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.

You have a big dream that will take you years to achieve. Depending on Bitcoin investment is good but you need another way of making money in order to able to hold Bitcoin for long.

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.

Holding bitcoin is not for everyone, it is a discipline that one needs to have because some people cannot even save their own money which is very risk and un controlled use of money.
If you want to hold bitcoin, you need a strategic plan like DCA, so that you can be saving some percentage of your income so that you will keep accumulating their Bitcoin.
 

[Mate2237]

This is simple question that also needs a simple answer. Yes Bitcoin hodling is not for everyone because many people attached their livelihood to the investment of Bitcoin and once you attached it like that then you can't hodle Bitcoin again then another thing that would not make someone to hodle Bitcoin is if you are not doing something to backup your investment then there is no way you can hodle Bitcoin because you be using the ones you invested in to settle some bills and personal expenses.

You can only hodle Bitcoin if you doing something which will not allow you to touch your Bitcoin again. I have said this in the my local board and other general boards. The best way to hodle Bitcoin is to invest in another which would bring food to the table always then your investment is 100% save to be sure. But if not then the opposite is the case.

[Stable090]

Maybe you are rushing into investment, ask yourself first whether you are already able to fulfill your basic needs with your current income,

Not everyone knows how they are supposed to invest in bitcoin or what things are supposed to be taken into consideration before investing in bitcoin. I know in most places people are always talking about bitcoin, and everyone will just want to invest in bitcoin without even knowing what bitcoin is all about. If you are receiving a salary and the amount you are receiving won’t be enough to take care of yourself, then you shouldn’t force yourself to invest in bitcoin. If you do that, then you are still going to sell back your bitcoin, and we all know bitcoin is volatile, it might have dumped and you will be selling it at a loss.

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.

After getting a better job, make sure you have some savings outside cryptocurrency before you plan to invest in bitcoin. If you are investing without having extra funds as your savings. In case you need money and you don’t have any money with you, then you will end up selling your bitcoin, but if there is money outside cryptocurrency, you will be able to make use of that without even thinking about selling your bitcoin.

[Ojima-ojo]

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.

Our salary doesn't match with the price of bitcointalk but we ensure to be more careful when it comes to been on a safer side because it's clearly not anyone intentions to reap losses from the market. Bitcoin is important for everyone of us that picks interest in crypto, it's very important we dwell in good shape and abide on good rules, that's winning and profiting from the market in both bearish and bullish season. Bitcoin is affordable in different peice because it's not compulsory you own a whole one of bitcoin, because having one Bitcoin in your portfolio, is good starts to kickoff when the bull season finally arrives.

borovichok you may have to edit and correct typographical error in you statement you wrote bitcoin talk instead bitcoin which is what you meant from your statement, back to our discussion, Bitcoin is a developmental part of, and when an individual understands the steps in owning and maintaining Bitcoin.

Most time, the majority of those who have bad experiences with Bitcoin or the cryptocurrency industry are all driven by their greed which makes them to easily get pressured into investing in fake and scam projects and calling it Bitcoin investment,  whereas there are just Ponzi and nothing close to the true aim and practice of Bitcoin

[sulendra12]

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

I do DCA with my freelance money, even though it's not much and as the time goes on you get less Bitcoin if the price is up. But I don't really care that much because my point is to make consistent investment for the future. 300% is already much although 1000% for Bitcoin is still possible if you see the Bitcoin's performance in past decade. The only problem is your patience, but for me I can do it for now.

[Asuspawer09]

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.

Probably right, I mean 1 Bitcoin was actually so expensive that minimum wage people cannot really afford something like that, even me was having a lot of difficulty to earn 1 Bitcoin I have a pretty decent job was the salary was just average just enough for me to pay my bills and buy most of the things that i wanted, but buying Bitcoin was probably going to be difficult probably if I'm going to accumulate it, that would take me years and years just to earn 1 Bitcoin.

I would say that holding Bitcoin isn't for everyone right but it wasn't because you broke because at any amount you could still invest in Bitcoin and at the same time we have DCA where you could slowly accumulate Bitcoin, I've been doing DCA and I would say that I accumulate a fair amount of Bitcoin. Still, the thing is you are making a profit even though you didn't earn 1 Bitcoin or something like that, profit is still there if you are going to hold your Bitcoin, unless you have other sources of income like a business and other passive income you're not really going to accumulate 1 Bitcoin with just one job it seems to be impossible unless you have a very high salary.

[Savagekante42]

It has been long that I have known about bitcoin and how it is trade, even if I don't have much knowledge about it I know that if I've had even one I will learn and trade but unfortunately for me I can't afford it due to financial status
I have dreamwd of getting money and have big investment on bitcoin, I will rather have ininveat in bitcoin than to have money in my account because it's good and comes a lot of  chance getting profitted if I have good lesson on trading which won't be hard if I could have
Moreover my dreams never die, I pray have hope I have one day so that I can trading and own a lot of profit on future which i loudly say ameeen to.

[shepherd_gee]

One is poor only if they choose to be. The decision to HODL for a long time is solely in your hands. It's left for you to know if to buy in little fraction and DCA just as Michael Saylor is doing to Microstrategy. No body is going to take off this instability in holding your coin for a long time, it is only you, and yourself that is meant to emancipate yourself from such dismay. If your main intentions investing in btc is for financial independence, I'll say you clear such ideology from your head and see btc as it is; with its unpredictable, uncertain, volatile and decentralized nature aspect of it. BTC isn't a Ponzi scheme bro. You got all it take to emancipate yourself to financial independence. A $100 or $200 is going to play a vital role in this journey if you DCA.

[roller33]

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 sounds like you've got a realistic take on your situation, and that's super important in the crypto game. Holding (or HODLing) Bitcoin long-term isn't a one-size-fits-all strategy. It really depends on your personal financial situation and risk tolerance.

With responsibilities like a mortgage and a family to support, it makes total sense that you'd need to cash out sometimes, whether the market's up or down. Life's expenses don't wait for Bitcoin's price to rise, right?

And no, you're definitely not "too broke" for Bitcoin. It's just that Bitcoin investment, like any investment, needs to fit into your broader financial plan. For some, it's a small part of their portfolio, and for others, it's a long-term bet. It's all about what works for you.

If 300% or 1000% gains are your dream, remember, dreams take time. And it's okay if Bitcoin's only a small part of that dream. Your financial independence is a journey, and you're navigating it with the resources you have. Keep focusing on that steady income, managing expenses, and maybe a bit of Bitcoin when you can afford it. Who knows? Maybe one day, you'll hit that dream without even realizing it.

[Cryptomultiplier]

With proper planning and a source of income, no matter how little it pays, someone can always buy BTC or invest using the DCA strategy which demands only bits of Satoshis monthly or weekly depending on how carefully one has made his plans and has tailored their life with discipline.
Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.

[deathcode]

Would you say that holding BTC isn't for everyone?

the situation is indeed not so good for you. where you try to set aside part of your salary for Bitcoin investment but your expenses are not covered by your income. So that's what will force anyone to sell their Bitcoin.
Bitcoin is not only for those who are financially strong. But it would be better to think about long-term investments when your finances are really strong.
Whatever your condition, I hope you will be better in the future. Of course, with Bitcoin, you have to collect it gradually again.

[yazher]

the situation is indeed not so good for you. where you try to set aside part of your salary for Bitcoin investment but your expenses are not covered by your income. So that's what will force anyone to sell their Bitcoin.
Bitcoin is not only for those who are financially strong. But it would be better to think about long-term investments when your finances are really strong.
Whatever your condition, I hope you will be better in the future. Of course, with Bitcoin, you have to collect it gradually again.

If only they first studied how others became successful in their investment with bitcoins, not just making some sudden decisions where they use their retirement money just to buy bitcoins and hope it will go well quickly. No, it's not like that and it has never been that way for many of us because investment means for long term and when we say long term, we need to have enough money to cover our expenses on our daily essentials and whatever is left after that, we can consider buying bitcoins with it or like what others have been doing, they left their bad habits and converts that money to buy cigarettes and alcohols to buying bitcoins every time they get their salaries and their stories are successful so far.

[Z_MBFM]

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.

$3000 per year or month you get paid from your job?  Anyway if you can invest a big amount in bitcoin and hold for a long term then you will get profit from here it is sure but don't know if you will get a huge profit like 1000% but maybe like 300% Bitcoin price has increased thousands of times from its starting price but since Bitcoin price has already crossed $45k so for it to be 1000% Bitcoin price has to be $450k possible but how many years it will take is impossible to say.

[EarnOnVictor]

-snip-
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.

Sorry about that, but I think you and your wife need to step up your hurtling, it is until you are free financially and have extra for investments like this that you should relax.

As it is, I quite understand, and the more you want to invest, the more you will be forced to liquidate the investment. Some would even be liquidated in losses and so on like that. But do not be discouraged, Bitcoin investment is for you, just start very small, I mean with the money you will not have to think about when you inject it. Continue to save like that and before you know it, it will grow. However, with this style, you should be determined that any money you inject into the market will never be collected in long years, which is why you should not let the money be burdensome, but save only the excess there and take your mind off it as though it is not your money. And yes, if you can make x10 of your money, it is a dream come true. But I must tell you that Bitcoin will not do that for you so easily, that time of such a huge gain has passed.

[Pmalek]

<Snip>

I would advice you to forget about and leave the trading aspect of bitcoin and crypto alone for now. Most people have a completely distorted opinion on how to trade crypto. They think all they have to do is press a few buttons on a crypto exchange and within weeks or months you make a lot of money on those trades. Many traders lose and lose big because of a lack of understanding. Beginners would be better off if they just bought bitcoin and held it in their wallets instead of trying to swap and trade it around, expecting greater returns.

If you are really serious about becoming a trader, you can start educating yourself even without having money to spend. Learn the theory, and then apply it in trading simulations with fun money. 

[peter0425]

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.

You have been earning a pretty decent amount to ask this here , if you cannot afford  owning bitcoin in that 3000 dollars income monthly what more like us who only earn  600-1000 dollars monthly ? maybe better to check your expenses and evaluate what can be adjusted if you truly wanted to invest and have bitcoin , you can even afford buying 1 whole bitcoin in couple of months time while it took us even more than a year having 1.

[koang]

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.

Buy and Hold is the simplest and easiest way to invest in crypto.
However, Hodl is just one strategy to maximize profits. There are many more ways to maximize profits to achieve financial freedom.
Before deciding to invest, it would be better if an investor must determine his investment goals, whether for the short term or long term.
After setting the goals, we choose what strategy is most appropriate to achieve these goals.
So, Bitcoin is just an investment asset. Building a mindset to become a successful investor is more important.

[goldkingcoiner]

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.

My good man, you are broke because you do not hodl the Bitcoin that you can afford. If you cannot afford to buy any Bitcoin, that is understandable. Payments must be made, there is no other choice. But I think anyone can save up a few dollars to grow their BTC bags.

Sorry but it seems to me that your fiat mindset is dragging you down as you have been exposed to that unjust and corrupt system of money for so long that you now cannot imagine your financial life in any other way. In fact, if you were to trade any expendable fiat in for Bitcoin, you would probably panic sell during every major volatile price event. Flip flopping back and forth on your investment will definitely make you even poorer as you lose Bitcoin in bad trades and through trading fees (they add up to quite the large amount over time).

You need to sort yourself out before you think about Bitcoin. Your current mindset is not helping you.

[Peanutswar]

....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.

Your earning is still capable of having an investment but of course we have different state of living if you have an extra money and would like to earn atleast and take risk make an investment than waiting for the banks having your profit to the locked money with just annual per year percentage, than making a large profit with the market volatile of the crypto. It depends on you how much you risk and how long you hold this must be added or a must to your plan before making an investment, if you are going for a long term or short term. Another thing when it comes in investment with crypto not as always that this becomes peoples safe haven not as always people getting profit here.
Investment where you think you are comfortable.