Denying yourself comfortability in other to buy Bitcoin

[Dailyscript]

With the current rate of inflation in our individual countries, many people see it that there is a better future in investing and holding Bitcoin for a long period of time. Many see it as a breakthrough out of poverty while some see it as a way of storing value. However, in as much as we love comfortability, convenience in our daily lives there are individuals who will rather choose to forgo short term pleasure like luxury purchases, expensive outings, Unfurnished apartments all for the sake of acquiring a lot of Bitcoin in their portfolio. They are determined and dedicated to believe in the long term benefit of Bitcoin while making personal sacrifices to secure their future.

Based on their commitment to keep to their decision it makes me ask myself how do this set of person go about their daily lives when they know they can afford those things they see around?

Do you think this is a strategy to accumulate Bitcoin faster because of the volatile nature of Bitcoin?

Lastly have anyone come across any individual who will deny his comfort for Bitcoin and what do you think are their motivations?

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[Dr.Bitcoin_Strange]

[img width=450 Do you think this is a strategy to accumulate Bitcoin faster because of the volatile nature of Bitcoin?

Lastly have anyone come across any individual who will deny his comfort for Bitcoin and what do you think are their motivations?

Well, IMO, if there is no comfort, that means there will be discomfort, and discomfort would not really create a very conducive environment for the individual who is accumulating Bitcoin and therefore might still cause him to sell off if there arises a very depressing need.

This topic reminds me of the warning that is usually given to some investors: never to invest more than their budget. While investing in Bitcoin, it's necessary to save some emergency funds and at least be in a comfortable state so that there is no discomfort or distress that can cause them to sell off their Bitcoin early.

If an individual actually has enough money (very rich) or less money (not too rich), spending on their needs and things that give them comfort should not be a problem. For someone to invest in Bitcoin, they don't need to invest all their money in it; at least investing based on their budget and their pocket size will be more favorable for them.

[JariKriting]

bitcoin until now has not been able to be easily used for transactions in real life. for example, buying cigarettes, eating at stalls still cannot. and for online transactions to buy goods in the marketplaced there are still few who support. that's the thinking of ordinary people when they want to enter bitcoin, let alone buy bitcoin.
because the price of bitcoin can also experience a decline in price, but the price does not always continue to rise.

[mk4]

Obviously, the Michael Saylor chair meme was mostly (I think, at least) a joke as it's taking things too far. You just need to have a perfect balance between not spending money unnecessarily, but at the same time not depriving yourself too much of comfort and quality of life.

[CODE200]

Lastly have anyone come across any individual who will deny his comfort for Bitcoin and what do you think are their motivations?

I used to be like this person that you're looking for, the drive to save up on things that are expensive but I really want to have is strong back when I still don't earn a lot of money but now that I'm well off even just a little, I do think that a little comfort wouldn't hurt so much when you're saving, enjoying the profits of your savings and at the same time finding a way to get it back is almost always the thing that anyone should be aiming for and that we shouldn't restrict ourselves like a monk practicing celibacy.

bitcoin until now has not been able to be easily used for transactions in real life. for example, buying cigarettes, eating at stalls still cannot. and for online transactions to buy goods in the marketplaced there are still few who support. that's the thinking of ordinary people when they want to enter bitcoin, let alone buy bitcoin.
because the price of bitcoin can also experience a decline in price, but the price does not always continue to rise.

Even if we can do that, I don't think that we'll be able to see bitcoin being used as much as we believe it to be on daily necessities like this, people will always remember the 10k bitcoin pizza story and it's one of the reasons why they're going to just use bitcoin as an investment rather than the intended means which is a digital currency to trade without a middleman.

[blockman]

IMHO, accumulate and buy when you're totally fine and there is no need to sacrifice your comfortable living. But if you're alone, I guess that makes sense and easier to do because you don't need to think of any family member that will be sacrificed the status of life because of your goal to invest in Bitcoin. That's why for the singles out there, if you are able to buy Bitcoin and you include that to your expenditures every time you receive your paycheck then you have to keep on doing that. Because you'll never know how tight it is going to be when you're with a partner already or when you become a family guy.

[zaim7413]

bitcoin until now has not been able to be easily used for transactions in real life. for example, buying cigarettes, eating at stalls still cannot. and for online transactions to buy goods in the marketplaced there are still few who support. that's the thinking of ordinary people when they want to enter bitcoin, let alone buy bitcoin.
because the price of bitcoin can also experience a decline in price, but the price does not always continue to rise.

Thinking like this is the result of fear and lack of literacy regarding the function and use of Bitcoin in the future. Of course, Bitcoin cannot currently be easily used for real-life transactions such as buying cigarettes or eating at a food stall. I don't think it's possible to pay for small purchases using Bitcoin because transaction fees also need to be taken into consideration. The continuously fluctuating price of Bitcoin is the beauty of investing, when the market is experiencing a decline it can be an opportunity to consider a long-term investment strategy by increasing the amount of investment without any worries and speculation among traders and investors.

[slaman29]

Man we all guys live in all kinds of discomfort to do things, no need to say about Bitcoin, I know guys who will eat ramen every day just to afford cigarettes lol

But all of that is short term. Invest in your professional career, invest in self improvement and health. You get better jobs, you perform better, you get better education.

Then you're in better position to DCA for Bitcoin

[Don Pedro Dinero]

You just need to have a perfect balance between not spending money unnecessarily, but at the same time not depriving yourself too much of comfort and quality of life.

This. I don't want to do like the ERE (Early Retirement Extreme) people, who live a shitty life, skimping as much as possible, even on basic things like food and other things that can affect their health, so that in a hypothetical future they can retire. The best years to enjoy are when you are young. If you spend too much time saving, you might die and not have enjoyed anything, or when you are old enough to retire you are in poor physical condition. That's why I think there needs to be a balance between saving (and investing) for the future and enjoying the present.

[EarnOnVictor]

This is a nice and thoughtful topic but it is best with Bitcoin Discussion or Economic section. You might want to contact moderators to help you move it to the appropriate section of teh forum.

Based on their commitment to keep to their decision it makes me ask myself how do this set of person go about their daily lives when they know they can afford those things they see around?

This is not a bad thing to do, after all, it will increase the chance of success of the person. I even have some projects I should have embarked upon starting last year, but because of the investment opportunity coming from cryptocurrency, I paused. I believe this will help me faster if I invest more money in cryptocurrency, and is not new to people as well.

But I will never live a nonsense kind of life because of Bitcoin and others. What if it fails?

Do you think this is a strategy to accumulate Bitcoin faster because of the volatile nature of Bitcoin?

Of course, more money committed to investment means more money to be gained from it, which is why people deprive themselves temporarily and also hope it works as planned.

Lastly have anyone come across any individual who will deny his comfort for Bitcoin and what do you think are their motivations?

Yes, I have seen and that includes me, but not to the level of living like a pauper in the name of crypto investment. I follow the rule of investment that advice to invest only the money you can afford to lose. Though I do more as I have enough in crypto, but it is not affecting my living negatively whatsoever.

[Nrcewker]

Real men know the value and capabilities of Bitcoins. They have seen Bitcoins growing from nothing and turning into a thousand dollar digital asset. The early investors were really lucky. They made the most profits while investing early. Right now they also accumulating many Bitcoins and holding it for the next ATH price. They know the value and hence they will tell others not to accumulate it and on the other hand they holding it making the most profit from it. So just accumulate it, irrespective of the price.

[Zigabel]

With the current rate of inflation in our individual countries, many people see it that there is a better future in investing and holding Bitcoin for a long period of time. Many see it as a breakthrough out of poverty while some see it as a way of storing value. However, in as much as we love comfortability, convenience in our daily lives there are individuals who will rather choose to forgo short term pleasure like luxury purchases, expensive outings, Unfurnished apartments all for the sake of acquiring a lot of Bitcoin in their portfolio. They are determined and dedicated to believe in the long term benefit of Bitcoin while making personal sacrifices to secure their future.

Based on their commitment to keep to their decision it makes me ask myself how do this set of person go about their daily lives when they know they can afford those things they see around?

Do you think this is a strategy to accumulate Bitcoin faster because of the volatile nature of Bitcoin?

Lastly have anyone come across any individual who will deny his comfort for Bitcoin and what do you think are their motivations?

Their motivation is basically a good future ahead, when you foresee a good future ahead then you will be willing to give up what's required of you to secure it, they know if they are able to secure the future they will be able to afford the Luxury and even more so what's the need of getting a temporary luxury when you can get something much better just by investing in the future, luxury do evolve so what's luxury today may be obsolete by tomorrow but if by tomorrow you have got all you need and have attained a good level of stability then you can always stay in trend with whatever luxury it is at that time and that's what most of the Bitcoin investors would prefer.

It's also important to understand that these persons do have jobs and other means of income that keeps them going and meet up their daily needs so they can be able to maintain such investments long enough provided their daily needs are met.

[Stepstowealth]

Do you think this is a strategy to accumulate Bitcoin faster because of the volatile nature of Bitcoin?

Reducing what you spend on can make more money available to spend on investing in bitcoins. But when reducing your expenses, do not remove important needs from what you need to spend money on because you are trying to save money to invest in bitcoins. See a doctor when you need to, dress and eat well. If you neglect yourself good healthcare after you have denied yourself some comfort, if you fall sick, you may die and leave all your bitcoins lost if you did not plan a way to pass it on to someone. Take care of yourself as you try to invest.

[electronicash]

by holding since last year and not even buying myself a xmas gift i think is a huge sacrifice in denying comfort to save money and keep it in BTC. for a person to hold coins for a long time despite the bull market is like seeing a prepper for financial troubles in the future.

i have seen many people who kept their cash in some sort of a biscuit can so they can save money not even celebrating a birthday but just saving for emergency but i have not seen someone who saves to buy BTC yet. what is common is DCAing.

[mvdheuvel1983]

Not everyone can withstand the pressure of surviving in a discomfort situation and it takes a person with strong determination to make good decisions when in this kind of situation so I think it's an error for me cause depriving yourself a good life to hold Bitcoin that you don't know what the market is going to be in the next few months sounds like suffering yourself. It is better to buy and hold when one is comfortable financially I believe you will have the courage to overlook the price and keep holding your Bitcoin regardless of the panic and fears.

[Yatsan]

Like some sort of pushing things just to invest? Well yes, it is a good idea but never expect anything less than struggle. The reason why it would be best to invest an extra money is for daily necessities. Imagine being able to invest in Bitcoin but suddenly needing money for food or hospital expenses. You need to have a 'margin' on the amount you are planning to invest and amount you will be needing to live. Let's say you were able to put a huge amount in your wallet from this industry then you happened to have an emergency or that you will be needing urgent money. This is, I believe, the most common instance an investor is pulling out his assets which sometimes result to complete loss because the chance of earning profit from holding was also cut  by that time. So what's the right thing? Save and invest. It would be much better in the long run to only do things properly. If you will go all in to an asset you'd be always at the edge which will for sure make you uncomfortable and probably not a good investment outcome or journey.

[bettercrypto]

bitcoin until now has not been able to be easily used for transactions in real life. for example, buying cigarettes, eating at stalls still cannot. and for online transactions to buy goods in the marketplaced there are still few who support. that's the thinking of ordinary people when they want to enter bitcoin, let alone buy bitcoin.
because the price of bitcoin can also experience a decline in price, but the price does not always continue to rise.

That's why Bitcoin is called a volatile asset because at any moment the price value of Bitcoin can go up or down in the market, and because of this, the price of Bitcoin is also called unpredictable even in other cryptocurrencies, right?

then saving bitcoin is not just saving, because, of course, while we save, we can't do anything else because we have needs that must be prioritized. In short, we also need to have a source of income that will sustain all our needs and bills.

[Pokapoka124]

You don’t have to live in discomfort or deny yourself life’s pleasures just because you want to own bitcoin. Maybe it’s a matter of preference, for me I wouldn’t want to live in an unfurnished house because of I’m saving money to buy bitcoin. There are other things I can cut off like eating out, morning coffee and clubbing. I wouldn’t mind doing any of those but living in an apartment with just a tv and little or no furniture is a no for me.

[Crypto Library]

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Based on their commitment to keep to their decision it makes me ask myself how do this set of person go about their daily lives when they know they can afford those things they see around?

Do you think this is a strategy to accumulate Bitcoin faster because of the volatile nature of Bitcoin?

Lastly have anyone come across any individual who will deny his comfort for Bitcoin and what do you think are their motivations?

In fact, what is our profit after holding Bitcoin? What exactly are we holding Bitcoin for? Because later on to enjoy a secure and comfortable life? We are human and we all know the proverb that "Man is mortal" so when our life will end we never know. So it makes no sense to leave yourself in a bad situation now to achieve a comfortable life later. The reason why I put myself in discomfort is basically uncertain. And it's been working on me more and more since seeing LEO's topic for the past few days.
Anyway, I'm not discouraging anyone from holding Bitcoin or investing in Bitcoin, I'm just saying don't waste your present for future comfort, invest as much as you can afford now, there's no point in taking extra stress by investing beyond what you can't afford. Select a bearable amount from your income and start holding for long term through DCA method.

[Sanitough]

That’s what how precious bitcoin is that some men are able to live their life in current discomfort just to buy bitcoin as it will surely give them their future comfort. Even myself, if only I’m still single, I would do all the sacrifice for now just to accumulate bitcoin consistently. But when you have children around, you cannot let them live a life that is not comfortable. You can deny yourself from living a comfortable life but it’s a different story when you are raising little kids around.