Tmoonz
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 11, 2024, 05:59:37 PM |
|
@Reincarnated Sat understand that being Aggressive in accumulating Bitcoin doesn't mean spending irresponsibly but at your comfort. Buying aggressively depends on individual income, for example an investors income is $1000 after every other expenses covered and he/she is left with $400 at his discretion investing $200 in bitcoin can be seen as aggressive because it good amount available at his disposal. The purpose of aggressiveness is taking bold and committed step to your investment aim, but also having a balance in other personal priorities.
From my knowledge, being too aggressive in investing may not be a good decision. The purpose of investing is not only to invest, but you also need to know and commit to the strategy of prolonging the investment. You can continue your investments gradually rather than being aggressive in investing and focus more on keeping your funds moving. Remember, the stronger your funds, the stronger your investment base. I think of emergency funds as the cornerstone of investing. Consider reserve funds and other necessary funds as emergency funds and investment aids. For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund. On the other hand, if you want to buy additional bitcoins during a bearish market, you will have the opportunity to buy more bitcoins with the help of reserve funds. There is nothing absolutely wrong being aggressive with your investment, the logic is, invest, take position in the market as much as you can without over doing it such that it will now affect your other living expenses negatively, your investment can become problematic if only you are being overly aggressive to the extend of using the money that should be meant for your living expenses for your investment, buy as much as you can without over doing it which I see is the reason for preparing for the up that may or may not happen.
|
|
|
|
Obim34
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 11, 2024, 07:08:02 PM |
|
@Reincarnated Sat understand that being Aggressive in accumulating Bitcoin doesn't mean spending irresponsibly but at your comfort. Buying aggressively depends on individual income, for example an investors income is $1000 after every other expenses covered and he/she is left with $400 at his discretion investing $200 in bitcoin can be seen as aggressive because it good amount available at his disposal. The purpose of aggressiveness is taking bold and committed step to your investment aim, but also having a balance in other personal priorities.
From my knowledge, being too aggressive in investing may not be a good decision. The purpose of investing is not only to invest, but you also need to know and commit to the strategy of prolonging the investment. You can continue your investments gradually rather than being aggressive in investing and focus more on keeping your funds moving. Remember, the stronger your funds, the stronger your investment base. I think of emergency funds as the cornerstone of investing. Consider reserve funds and other necessary funds as emergency funds and investment aids. For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund. On the other hand, if you want to buy additional bitcoins during a bearish market, you will have the opportunity to buy more bitcoins with the help of reserve funds. I will have to disagree with you a little because I do not see anything wrong with being aggressive in Bitcoin investment. What I suspect is that you are mistaking being aggressive with being reckless and not putting the necessary requirements for a healthy investment in place. This is not what I understand by being aggressive as an investor. If you did not setup emergency funds and sometimes reserve funds, you might not be able to meet up your investment objectives because those are the foundation for sustainable investing that must be in place irrespective of the type and manner of long term investing that is being made. Being aggressive simply have to do with your level of commitment, how curious you are to meet your objectives and what dispensable wants you can forego to be well invested in Bitcoin. For example, I might have $5k and my total monthly income out of which my basic monthly needs will take $1k, so I can decide to set aside $1k as emergency funds and invest the balance $3k into Bitcoin month. This is being aggressive because the percentage of my income that is invested in Bitcoin is extremely high but that does not mean that my needs are suspended and I did not get up emergency funds. It is based on individual criterias whether their approach to investing is aggressive or not. Being aggressive depends on factors like level of income in correspondence with expenses and how much they decide to keep for reserve but whereas when all these are not strictly considered before investing and the investor choose to go massively into accumulation then we are to condemn such aggression on accumulation as a wrong approach because it ends up having negative impact on the investor living. It is recommended we approach the market aggressively with positive insight and understanding how hard or soft we are to go while investing and not to do more than is intended.
|
| | . Duelbits | │ | | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | ██████████████████████████████████████████████████████ . PLAY NOW . ██████████████████████████████████████████████████████ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | |
|
|
|
JayJuanGee
Legendary
Offline
Activity: 3822
Merit: 10748
Self-Custody is a right. Say no to"Non-custodial"
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 11, 2024, 07:33:24 PM |
|
For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Sure there are likely a lot of newbies who are not even used to having (or maintaining) and kind of emergency fund and/or back up funds, so likely their earliest of years of investing (presumptively into bitcoin), they are going to be getting used to how to build and maintain such backup funds and how to prioritize their usage, including figuring out how strong their financial status is or if they might need to start to curtail their spending in various ways if they are starting to get to a point of exhausting their reserve funds prior to even touching any emergency funds, which hopefully they will never have to touch...but yeah, sometimes actual emergencies happen (rather than emergencies that had come about merely due to sloppy cashflow management). For example, I might have $5k and my total monthly income out of which my basic monthly needs will take $1k, so I can decide to set aside $1k as emergency funds and invest the balance $3k into Bitcoin month. This is being aggressive because the percentage of my income that is invested in Bitcoin is extremely high but that does not mean that my needs are suspended and I did not get up emergency funds.
This is a strange example. In order to figure out your level of aggressiveness, we likely need to know more, including what are your monthly expenses and what is your income. do you already have other emergency funds and reserve funds or is that the total amount that you have in your bank? Are you just starting investing in bitcoin or have you already accumulated some? Do you have other investments? or are we talking about someone who is new to investing so only has bitcoin and cash?
|
1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
|
|
|
avp2306
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 11, 2024, 10:48:43 PM |
|
For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Sure there are likely a lot of newbies who are not even used to having (or maintaining) and kind of emergency fund and/or back up funds, so likely their earliest of years of investing (presumptively into bitcoin), they are going to be getting used to how to build and maintain such backup funds and how to prioritize their usage, including figuring out how strong their financial status is or if they might need to start to curtail their spending in various ways if they are starting to get to a point of exhausting their reserve funds prior to even touching any emergency funds, which hopefully they will never have to touch...but yeah, sometimes actual emergencies happen (rather than emergencies that had come about merely due to sloppy cashflow management). That's how they start mishandling their funds since they already decide to use their emergency funds for unnecessary things. If they are really eager to invest more then they should work for it to gain money for sure there are other opportunity out there that can generate them an income then they could use that money for investment. Emergency fund should be the least option for people to touch unless emergency situations happen and they need money to save their ass. For people want to invest in bitcoin they should always think that invest only base on their capability and don't over invest, since this will put them at huge risk and most likely their investment would fail with this matter if they mishandle their funds and everything important matters. But also maybe they are confused about the usage of emergency funds. That's why some of them think about using it when they really need money to invest more. Its good that there are people like you which correct the wrong assumptions of people so that every investors insight will be corrected in those situations, also thread like this where they can learn more knowledge about bitcoin investment.
|
|
|
|
Odohu
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 12, 2024, 09:54:17 AM Last edit: July 12, 2024, 04:36:23 PM by Odohu Merited by JayJuanGee (1) |
|
For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Thank you for making this clarification because it gets confusing for newbies and even the experience guys can mix things up somethings when a clear order of priprity are not defined and emphasized. Indeed, it is obvious that understanding the order of priority and building the discipline to follow it is key to a successful Bitcoin accumulation. Initially I never integrated the concept of reserve funds rather emergency funds was just ok for me as I was strictly using the DCA method and as someone earning monthly salary, the cashflow was regular and predictable. But the recent market behaviour made me to make some additions into my Bitcoin collection which is continuing the DCA method and also buying lump sum when I see a reasonable dip to enable me meet my Bitcoin targets. I have now also made reserve funds available to ensure a smooth flow of this concept so that I will not be put in a tight corner for any reason and also to increase the protection of my emergency funds.
|
|
|
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
| | | | | | .
| | | ▄▄████▄▄ ▀█▀▄▀▀▄▀█▀ ▄▄░░▄█░██░█▄░░▄▄ ▄▄█░▄▀█░▀█▄▄█▀░█▀▄░█▄▄ ▀▄█░███▄█▄▄█▄███░█▄▀ ▀▀█░░░▄▄▄▄░░░█▀▀ █░░██████░░█ █░░░░▀▀░░░░█ █▀▄▀▄▀▄▀▄▀▄█ ▄░█████▀▀█████░▄ ▄███████░██░███████▄ ▀▀██████▄▄██████▀▀ ▀▀████████▀▀ | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄███░░░▀████░███▄▀██▄ ███░████░░░░░▀██░████░███ ███░████░█▄░░░░▀░████░███ ███░████░███▄░░░░████░███ ▀██▄▀███░█████▄░░███▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP SOUTHAMPTON FC FAZE CLAN SSC NAPOLI |
|
|
|
Reincarnated Sat
Jr. Member
Offline
Activity: 42
Merit: 13
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 12, 2024, 11:01:41 AM Last edit: July 12, 2024, 11:14:43 AM by Reincarnated Sat |
|
For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Sure there are likely a lot of newbies who are not even used to having (or maintaining) and kind of emergency fund and/or back up funds, so likely their earliest of years of investing (presumptively into bitcoin), they are going to be getting used to how to build and maintain such backup funds and how to prioritize their usage, including figuring out how strong their financial status is or if they might need to start to curtail their spending in various ways if they are starting to get to a point of exhausting their reserve funds prior to even touching any emergency funds, which hopefully they will never have to touch...but yeah, sometimes actual emergencies happen (rather than emergencies that had come about merely due to sloppy cashflow management). A lot of newbies don't care about learning and understanding how Bitcoin investment works and what needs to be done financially to secure there investment, a lot of people feels having a strong backup funds are not really necessary and a lot of people don't even know if the reverse funds should be used first or the emergency funds. It is very important to understand the financial system it helps to prevent ugly occurrence and mostly especially one's financial strength, a lot of newbies really do not care about learning and understanding financial security which is why they fall into mess, one needs to do research and try to learn something's and that is what has been helping me since I started this Bitcoin investment journey. A friend of mine still don't see any use of having a backup funds all his concern about is accumulating enough Bitcoin, I tried explaining to him the little I know but he feels after accumulating enough Bitcoin he we then start building his security but the question is what if along the line of building your Bitcoin an emergency happened and your little savings couldn't resolve it what will be your faith, you will have no other option than dipping hands into your Bitcoin investment and it may result to you exhausting your bitcoin, so what am I saying, securing your investment is as important as building it.
|
|
|
|
red4slash
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 12, 2024, 02:43:12 PM Merited by JayJuanGee (1) |
|
You can continue your investments gradually rather than being aggressive in investing and focus more on keeping your funds moving. Remember, the stronger your funds, the stronger your investment base. I think of emergency funds as the cornerstone of investing. Consider reserve funds and other necessary funds as emergency funds and investment aids. For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund. On the other hand, if you want to buy additional bitcoins during a bearish market, you will have the opportunity to buy more bitcoins with the help of reserve funds.
I still feel that the concept you are doing is not right my friend, because after all why do you force investment by taking your emergency fund first when you still have a reserve fund to use. You have to realize what the function of the emergency fund is for and I don't think you can use it to invest especially there are still other funds where your reserve funds are still stored because after all the concept of having an emergency fund is to fulfill financial aspects when we face unexpected situations. If you use your emergency fund to invest in bitcoin and you have an unexpected situation that requires you to spend not too little, it will make you confused and make your financial condition not too good so you have to think again if you use your emergency fund first to buy bitcoin especially you still have spare funds that you can use.
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
|
|
|
Jewan420
Full Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Online
Activity: 182
Merit: 102
PredX - AI-Powered Prediction Market
|
For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Sure there are likely a lot of newbies who are not even used to having (or maintaining) and kind of emergency fund and/or back up funds, so likely their earliest of years of investing (presumptively into bitcoin), they are going to be getting used to how to build and maintain such backup funds and how to prioritize their usage, including figuring out how strong their financial status is or if they might need to start to curtail their spending in various ways if they are starting to get to a point of exhausting their reserve funds prior to even touching any emergency funds, which hopefully they will never have to touch...but yeah, sometimes actual emergencies happen (rather than emergencies that had come about merely due to sloppy cashflow management). Thank you very much for correcting my mistake. I thought I might need a reserve fund in addition to my emergency fund, which would help me in the event of an emergency after the emergency fund runs out. Yes, it is not difficult to prolong investment without reserve fund. You can prolong your Bitcoin holdings through planned spending and planned investments. Sometimes you may not even need your emergency fund. If we think of Bitcoin investment as savings for a moment - I remember how I saved and bought my smartphone when I bought my first smartphone. I joined the teaching profession (home tuition) from the time I was in fifth grade, teaching students for a very low salary. Suddenly I need a smartphone. My family could not afford that money. I build a savings from my low salary, where I put about 80% of my salary into savings and the remaining 20% I use to meet my needs. From this 20% money I bear my education expenses. I didn't waste even a small amount of money until I reached my goal. My savings was almost 2 years long. After 2 years I save money to buy a smartphone and buy the phone, I earn about 10x from that phone later. In these 2 years I have faced adverse situations several times but planned spending has always helped me out of adverse situations. I didn't need an emergency fund then. But investing now can be extremely difficult without emergency funds. At that time no one was responsible for me. But now I have to be prepared for unexpected expenses due to the responsibilities of others, which is why I am obliged to have an emergency fund. To tell my story, if the goal is unbreakable then you can reach your goal without any funds just because of planned frugality. So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
|
|
|
|
JayJuanGee
Legendary
Offline
Activity: 3822
Merit: 10748
Self-Custody is a right. Say no to"Non-custodial"
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 12, 2024, 05:22:58 PM |
|
For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Thank you for making this clarification because it gets confusing for newbies and even the experience guys can mix things up somethings when a clear order of priprity are not defined and emphasized. Indeed, it is obvious that understanding the order of priority and building the discipline to follow it is key to a successful Bitcoin accumulation. Initially I never integrated the concept of reserve funds rather emergency funds was just ok for me as I was strictly using the DCA method and as someone earning monthly salary, the cashflow was regular and predictable. But the recent market behaviour made me to make some additions into my Bitcoin collection which is continuing the DCA method and also buying lump sum when I see a reasonable dip to enable me meet my Bitcoin targets. Just to semantically correct you. There is a difference between buying lump sum and buying the dip. Even if you are using a larger amount to buy the dip, you are still buying the dip. The mere fact that you buy a larger amount does not convert that kind of purchase into lump sum rather than buying the dip. Lump sum refers to getting an extra amount of cash, and then deciding what to do with it.. which you have the three choices of how to divide an unexpected extra amount of cash which is 1) buy right away (which would be lump sum buying) 2) buy the dip (which would be a form of waiting) or 3) DCA (which is another form of structured waiting)... and of course, you don't have to employ all three and you can do them in part or ONLY choose to do one or two of them rather than all three. I have now also made reserve funds available to ensure a smooth flow of this concept sk that I will not be put in a tight corner for any reason and also to increase the protection of my emergency funds.
Yep.. I understand that sometimes people will convolute the ideas of emergency fund and reserve fund, so then it can be a bit unclear about priorities or when or how to dip into the funds, so if your funds are in separate categories, then you would likely realize the priorities better and end up treating the different categories of funds differently, even though some various kinds of reserve funds might or might not have differing priorities, depending on your own priorities. A few days ago I posted some examples about how reserve funds might be put into different categories, and we might be able to see that some of those categories might be more important to us than other categories, yet all of those various kinds of reserve funds serve as a lesser priority than the emergency fund and would likely be used prior to getting to dipping into our emergency fund.. so as those various reserve funds might end up being used, we might well realize, way before needing to touch our emergency fund, that we are running out of reserve funds and we need to buckle down with our spending otherwise, we might have to dip into our emergency funds - and we don't want to every have to dip into our emergency funds absent an actual emergency that includes us already having had exhausted our various other reserve funds. For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Sure there are likely a lot of newbies who are not even used to having (or maintaining) and kind of emergency fund and/or back up funds, so likely their earliest of years of investing (presumptively into bitcoin), they are going to be getting used to how to build and maintain such backup funds and how to prioritize their usage, including figuring out how strong their financial status is or if they might need to start to curtail their spending in various ways if they are starting to get to a point of exhausting their reserve funds prior to even touching any emergency funds, which hopefully they will never have to touch...but yeah, sometimes actual emergencies happen (rather than emergencies that had come about merely due to sloppy cashflow management). A lot of newbies don't care about learning and understanding how Bitcoin investment works and what needs to be done financially to secure there investment, a lot of people feels having a strong backup funds are not really necessary and a lot of people don't even know if the reverse funds should be used first or the emergency funds. Sure, that is part of the reason that some of us talk about those kinds of cash management matters as being basic foundations for investing into something as volatile as bitcoin. When an asset is volatile, cash management becomes more important, especially if you want to hold onto it and not end up losing money by holding it and not being prepared to hold it through potentially tough (and/or volatile) times. It is very important to understand the financial system it helps to prevent ugly occurrence and mostly especially one's financial strength, a lot of newbies really do not care about learning and understanding financial security which is why they fall into mess, one needs to do research and try to learn something's and that is what has been helping me since I started this Bitcoin investment journey.
Sure. Many folks might try to take the easy road, and even presume that they know enough (including the basics), but sometimes we might not realize that we don't know as much as we need to know and that we might prevent a lot of problems by making sure that we learn the right things.. and sure, another thing might be that there can be difficulties finding the better information or sorting through good information and bad information or even being able to come to our own conclusions that are based on both experience and exposure to good information to sometimes put the information into practice too.. because sometimes we might know some things, but if we do not put what we know into practice, it might not make as much sense if it is just held in theoretical ways rather than putting it into practice. A friend of mine still don't see any use of having a backup funds all his concern about is accumulating enough Bitcoin,
Some of those folks want to use their bitcoin as their emergency fund, but then they might not realize that if they use their bitcoin as their emergency fund, then they might get caught having to dip into their bitcoin at a time (maybe sell some or maybe end up having to sell all of it) that is not convenient and/or might lead to losing a lot of money because they end up having to sell low rather than the opposite in which they should be buying low rather than selling low. I tried explaining to him the little I know but he feels after accumulating enough Bitcoin he we then start building his security but the question is what if along the line of building your Bitcoin an emergency happened and your little savings couldn't resolve it what will be your faith, you will have no other option than dipping hands into your Bitcoin investment and it may result to you exhausting your bitcoin, so what am I saying, securing your investment is as important as building it.
Surely, each person has to decide the level of risk that he is willing to take, and sure it could be the case that your friend ends up doing o.k., but surely, if he does not sufficiently protect himself, he might end up devolving into gambling rather than investing, and he might not even realize it - until some kind of a bad event takes place in which all of a sudden he might not have enough cash and he could have had easily prevented his bad situation by having better cashflow management... but yeah, every person has to figure out how to make those kinds of balances, including how much they are able to keep in their various backup funds without risking too much. We likely realize that people who don't invest and who engage in fairly sloppy cashflow management may ONLY keep around 2-4 weeks worth of cash for any extra expenses that might come during the month, so there are many people who live on the edge like that, and sure some folks already have practices in which they keep more than 2-4 weeks worth of cash. So it becomes more important to keep more back up funds when you have such a volatile asset such as bitcoin, and especially if you consider that your investment timeline is 4-10 years or longer.. so if you have a longer investment timeline, then you should want to make sure that you are not going to be tapping into that at any time that is other than your own choosing, which presumptively is 4-10 years or longer for any funds that you put into it, and some folks are considering timelines that might be 20-30 years or longer, especially young people. .and surely there could be some points in which even young people might have shorter timelines, including if they might be able to aggressively invest and reach some meaningful targets at times that end up being shorter than their initial longer timeline goals... so it seems better to plan longer timelines and to be more conservative, yet still being able to benefit if the investment (in this case bitcoin) goes better than expected and goals might be able to be reached faster than initially expected. .but in order to have those kinds of successes, it likely is better to have solid systems in place in which investing is taking place rather than gambling. For example, if you run out of your emergency fund and you need more money, you can take help from the reserve fund.
You make little to no sense. Why would anyone take from their emergency fund prior to taking from their reserve fund? There should be an order and a priority, and if one has strong finances they may never need to even dip into their emergency fund for their whole life - 20-40 years or longer... if a person is getting close to dipping into their emergency fundx or if they have already done so, then there may be some signs of urgency, including that they have already exhausted any other backup funds that they might have and that they would use prior to dipping into their emergency fund. Sure there are likely a lot of newbies who are not even used to having (or maintaining) and kind of emergency fund and/or back up funds, so likely their earliest of years of investing (presumptively into bitcoin), they are going to be getting used to how to build and maintain such backup funds and how to prioritize their usage, including figuring out how strong their financial status is or if they might need to start to curtail their spending in various ways if they are starting to get to a point of exhausting their reserve funds prior to even touching any emergency funds, which hopefully they will never have to touch...but yeah, sometimes actual emergencies happen (rather than emergencies that had come about merely due to sloppy cashflow management). Thank you very much for correcting my mistake. I thought I might need a reserve fund in addition to my emergency fund, which would help me in the event of an emergency after the emergency fund runs out. Yes, it is not difficult to prolong investment without reserve fund. You can prolong your Bitcoin holdings through planned spending and planned investments. Sometimes you may not even need your emergency fund. If we think of Bitcoin investment as savings for a moment - I remember how I saved and bought my smartphone when I bought my first smartphone. I joined the teaching profession (home tuition) from the time I was in fifth grade, teaching students for a very low salary. Suddenly I need a smartphone. My family could not afford that money. I build a savings from my low salary, where I put about 80% of my salary into savings and the remaining 20% I use to meet my needs. From this 20% money I bear my education expenses. I didn't waste even a small amount of money until I reached my goal. My savings was almost 2 years long. After 2 years I save money to buy a smartphone and buy the phone, I earn about 10x from that phone later. In these 2 years I have faced adverse situations several times but planned spending has always helped me out of adverse situations. I didn't need an emergency fund then. But investing now can be extremely difficult without emergency funds. At that time no one was responsible for me. But now I have to be prepared for unexpected expenses due to the responsibilities of others, which is why I am obliged to have an emergency fund. To tell my story, if the goal is unbreakable then you can reach your goal without any funds just because of planned frugality. So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there. It could be the case that you are sorting through some of the terminology, and sometimes we might still be engaging in sound cashflow management practices, but just using different terms to describe what we are doing, and also sometimes we may or may not be keeping enough back up funds whether we call them emergency funds, reserve funds or float.. . and like you mentioned, there are ways that we can figure out what is our discretionary income, and we can make choices to hold back our discretionary income or even to increase our discretionary income by increasing our income or cutting our expenses, especially if we might have some various categories of goals that we would like to achieve, if we are saving up for some kind of a specific good or service that we want to purchase or if we might have some kind of an investment that we might want to make.. and surely even some investments (like a smartphone) might cost a lot and might depreciate in value, but some kinds of goods we might be able to use in order to increase our income or to cut our expenses, so sometimes even consumer good might serve some utility and even be considered a kind of worthy investment. So yeah in regards to bitcoin, there can be some dilemmas that involve really being able to set aside the money that we are investing into bitcoin and expecting to not be able to use that money for many years - such as 4-10 years or longer and even having some understanding that it is possible that the bitcoin investment might not do well. .so we have to be prepared for a variety of scenarios and choosing our investment size so that we are still able to live our regular life while making reasonable and prudent choices about how much of our discretionary income to put into bitcoin within our own particular financial and psychological circumstances.
|
1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
|
|
|
Bravut
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 210
Merit: 42
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 12, 2024, 05:47:54 PM |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. In essence, the long term view (bigger picture) is always beautiful than the present fluctuations, and worth the time so keep your head up.
|
|
|
|
adultcrypto
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 12, 2024, 09:34:58 PM |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big.
|
| | . Duelbits | │ | | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | ██████████████████████████████████████████████████████ . PLAY NOW . ██████████████████████████████████████████████████████ | █████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ █████ | |
|
|
|
Samlucky O
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 05:30:48 AM Merited by JayJuanGee (1) |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big. The $15 is even big for someone who is struggling to invest with a low income generation. at Least as we have learnt so far, $5-10 may as well be good for someone who is overly trying to manage himself without starving to achieve bitcoin accumulation. Bitcoin accumulation is almost a life time journey and shouldn't be done in a hurry to the extent of starvation. Though we are saying thesame thing and mine is not different from your own but my point is that if the $15 which you advise may still be much for the person to invest, h/she may decide to reduce it to achieve a better result of accumulation and a good dieting altogether, and may Increase to $15 -20-50 per week when such person may have gotten a better and desirable job. Bitcoin accumulation should be done effortlessly, seamlessly and tiredlesly.
|
|
|
|
red4slash
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 04:31:14 PM Merited by JayJuanGee (1) |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. In essence, the long term view (bigger picture) is always beautiful than the present fluctuations, and worth the time so keep your head up. Why do you have to feel that way when in bitcoin as if being in bitcoin has to experience difficulties and pain first when we become investors in bitcoin? I think if at the end of the day there is only pain and hardship that exists in bitcoin there will be no one in the end being here and when now more and more people are in bitcoin and investing for a longer period of time it indicates that there will indeed be no thing that you mentioned where pain and hardship exist. The journey of bitcoin and the statement of pain is our own that actually makes it seem as if being in bitcoin is like a difficulty but in the end if we enjoy the journey when in bitcoin and do not feel burdened because we know that the risk of being in the long run is like what we will certainly enjoy it even when bitcoin experiences corrections and decreases because our focus is not there but our focus is for the long term so we will not feel difficult with what happens in the short term. Indeed, there will be sacrifices, especially in terms of time, but that does not mean as if it hurts us as investors.
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
|
|
|
Jewan420
Full Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Online
Activity: 182
Merit: 102
PredX - AI-Powered Prediction Market
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 05:13:12 PM |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big. This method is not the best for everyone. If you have a source of income from which you have a good amount of money saved even after you meet your needs and family needs. Why should you lower your standard of living to save money? Why do you have to sacrifice? Why reduce the quality of food? You won't need these if you can meet your needs completely. You can continue investing in the DCA method by creating a fund in this case and prolong it. Think about the people who have low income. If it is difficult to fully meet their needs with their income, what advice would you give them if they want to invest? Shouldn't they invest? How do they start their investment? Yes, they must invest. Sometimes to be successful you have to make sacrifices, take risks. What's the harm if you can succeed by lowering your standard of living for a while? You might say there is a chance to lose, but even if there is a chance to lose, I see no other way. I don't think it's wrong to take that much risk when there's no other way.
|
|
|
|
Hewlet
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 06:08:15 PM Merited by JayJuanGee (1) |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. In essence, the long term view (bigger picture) is always beautiful than the present fluctuations, and worth the time so keep your head up. why should you invest in Bitcoin when you don't believe it it? T Franky speaking, anyone that's still battling with the thought of investing or not to invest and is still being confused wether or not he should put in too much into Bitcoin shouldn't invest in Bitcoin in the first place. If you're still looking at Bitcoin as a scam or anything close to a ponzi scheme then even when you buy and there is a slight form of correction, you will be among the first set of people that will sell off your holding. So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big. The $15 is even big for someone who is struggling to invest with a low income generation. at Least as we have learnt so far, $5-10 may as well be good for someone who is overly trying to manage himself without starving to achieve bitcoin accumulation. Bitcoin accumulation is almost a life time journey and shouldn't be done in a hurry to the extent of starvation. Though we are saying thesame thing and mine is not different from your own but my point is that if the $15 which you advise may still be much for the person to invest, h/she may decide to reduce it to achieve a better result of accumulation and a good dieting altogether, and may Increase to $15 -20-50 per week when such person may have gotten a better and desirable job. Bitcoin accumulation should be done effortlessly, seamlessly and tiredlesly. is $15 big for a DCA amount? As much as we don't want to go go above our financial strength and inconvenience our selves in the long run, we have to also note that investing too little might not be the best for you. I'm never suggesting you should invest an amount that will make it deficult to sort out the other aspect of your life throughout the time you are going to continue buying but it's necessary to know that what will help you reach a comfortable spot in your investment is how much you're able to accumulate. If your financial strength isn't strong enough to enable you accumulate up to at least $20 per week, it's not a bad idea that you work on improve on your earning potential so you can add up to the amount you've assigned for your DCA.
|
|
|
|
Sim_card
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 06:39:33 PM Merited by JayJuanGee (1) |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big. The $15 is even big for someone who is struggling to invest with a low income generation. at Least as we have learnt so far, $5-10 may as well be good for someone who is overly trying to manage himself without starving to achieve bitcoin accumulation. Bitcoin accumulation is almost a life time journey and shouldn't be done in a hurry to the extent of starvation. Though we are saying thesame thing and mine is not different from your own but my point is that if the $15 which you advise may still be much for the person to invest, h/she may decide to reduce it to achieve a better result of accumulation and a good dieting altogether, and may Increase to $15 -20-50 per week when such person may have gotten a better and desirable job. Bitcoin accumulation should be done effortlessly, seamlessly and tiredlesly. Of course I know that it is not everybody that will be able to invest the same amount from their discretionary income for their regular weekly or monthly buying of bitcoin through DCA due to their financial strengths, but that doesn't mean that we should not start investing immediately with the little that we have. Even as low as $10 is a good start for a new investor who does not have much and still don't have much faith in bitcoin as long as he also have spare cash to build his emergency funds for 3-6 months . It is better than nothing because as time passes by when the new investor begins to understand bitcoin and how it works, if he wants to invest more than what he has being investing before which is $10, he can look for another means of income so that he can use from his second income to increase the amount of bitcoin from $10 to let me say $50 weekly. We never can tell what good the future has for us, also he is investing he might be lucky to be promoted at his place of work or get a better job, and this will make him increase the amount that he is using for his regular DCA. The important thing is that just get started with any part that will not affect you financially, invest consistently and persistently overtime. Expenses can also be trimmed down in order for you to increase the amount that you are using to DCA doe not mean that you are suffering yourself.
|
|
|
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
| | | | | | | | | ▄▄████▄▄ ▀█▀▄▀▀▄▀█▀ ▄▄░░▄█░██░█▄░░▄▄ ▄▄█░▄▀█░▀█▄▄█▀░█▀▄░█▄▄ ▀▄█░███▄█▄▄█▄███░█▄▀ ▀▀█░░░▄▄▄▄░░░█▀▀ █░░██████░░█ █░░░░▀▀░░░░█ █▀▄▀▄▀▄▀▄▀▄█ ▄░█████▀▀█████░▄ ▄███████░██░███████▄ ▀▀██████▄▄██████▀▀ ▀▀████████▀▀ | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄███░░░▀████░███▄▀██▄ ███░████░░░░░▀██░████░███ ███░████░█▄░░░░▀░████░███ ███░████░███▄░░░░████░███ ▀██▄▀███░█████▄░░███▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP SOUTHAMPTON FC FAZE CLAN SSC NAPOLI |
|
|
|
Felicity_Tide
Full Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 140
Merit: 137
cout << "Bitcoin";
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 07:06:30 PM |
|
I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big.
$15 for someone with a good source of income?, Well I don't think that the source of income is good enough. For someone to have a good source of income with buoyant earnings, we should be talking of investment funds which should not be less than $100. But back to the part where you changed your investment approach, I think you've done well in identifying the importance of health. In as much as anyone is very interested in Bitcoin investment, there should be proper (well detailed) planning approach on how to split incoming earnings, so that there can be a level of balance. When this plans are not in place, then it's either there is an unhealthy investment, or an unhealthy investor. Now back to the intro. In as much as investing in Bitcoin shouldn't start with an aggressive approach for new investors, it's important for investors to invest healthy (quality) amount. Of course, I understand that the current situation of the economy in most countries, which is currently affecting the earnings of so many people, but for how long can we literally complain about that?. Let's not be deceive, the government don't have plans to make the economy of their country better, so the earlier we realize that we need to start finding (creating) other sources of income, the better it is for us. Having more than one source of income is a good way forward to maintaining good investment portfolio, and also living a good life as well. The main idea here is just to balance the two, thereby having healthy investment, and also living as an healthy investor.
|
|
|
|
Miles2006
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 08:01:09 PM |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big. Bitcoin investment should not be seen as pain or fear, firstly nothing is actually wrong with bitcoin market so what’s the point being scared when you can buy at any given time. If an investor should invest $15 per week according to his/her discretionary income I believe such investor will be able to gather much for a year, what everyone should understand bitcoin investment has nothing related with competing so it’s better everyone use what’s available at the moment to avoid creating a mess in the future. The amazing part using the dca strategy is special, funny enough anyone using little amount with dca approach will definitely be on the safer part compared to anyone who’s waiting for the dip or huge amount. Most people might ask and sometimes get confused due to creating an emergency funds alongside investing despite low income and low budget struggle, of course emergency funds is needed for investing so it’s left for an investor with low income to create a suitable amount that can cover up both bitcoin investment and emergency funds without stress or pressure in essence both an investor must not rely on the accumulation.
|
████████████████████ BitList ████████████████████ Real-Time Data Tracking Curated by The Community │││││││││││││ List #kycfree Websites │││││││││││││
|
|
|
Reincarnated Sat
Jr. Member
Offline
Activity: 42
Merit: 13
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 13, 2024, 08:50:57 PM Last edit: July 15, 2024, 10:23:23 AM by Reincarnated Sat |
|
So, if you can achieve your goal with temporary hardship, if the goal is honest then you will definitely start getting results after achieving the goal. In case of Bitcoin investment, you take temporary pains to take your investment to a certain goal, after achieving the goal, you will start reaping the results from there.
I will view "Hardship, Pain" you say as the Price that investor/Bitcoiners who have low finance ends gotta pay to reach what they aim for. As I would always say that what differentiate some investor from others is there perception about Bitcoin... For an investor that values it such investor will create and align with system that can help him to reach this goal while the other tries to gamble, chill out, call Bitcoin scam, etc. I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big. This method is not the best for everyone. If you have a source of income from which you have a good amount of money saved even after you meet your needs and family needs. Why should you lower your standard of living to save money? Why do you have to sacrifice? Why reduce the quality of food? You won't need these if you can meet your needs completely. You can continue investing in the DCA method by creating a fund in this case and prolong it. Think about the people who have low income. If it is difficult to fully meet their needs with their income, what advice would you give them if they want to invest? Shouldn't they invest? How do they start their investment? Yes, they must invest. Sometimes to be successful you have to make sacrifices, take risks. What's the harm if you can succeed by lowering your standard of living for a while? You might say there is a chance to lose, but even if there is a chance to lose, I see no other way. I don't think it's wrong to take that much risk when there's no other way. A lot of people feels they need starve there selves in other to grow there Bitcoin investment and is not so all we need is a good management skill, if you manage your salary very well you will go far in your accumulation using the DCA strategy, you don't need to starve yourself or your family to meet up with your accumulation. When you receive your salary remove the percentage you want to use for running the family and then the percentage for your backup funds and accumulation and other things. If one lacks management skill it will be very difficult for him to continue his or her Bitcoin investment, if you can manage your income very well then there's nothing to fear. Some people with low salary are doing very well in there accumulation journey all because of your good management skill. Well for me I don't see any risk in Bitcoin investment and there's nothing to fear the only thing one needs to fear is losing his investment because of lack of security and that's why it is always advised to have a backup funds such as emergency, reserve and float funds in other to secure your Bitcoin very well.
|
|
|
|
uswa56
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 14, 2024, 05:26:21 AM |
|
I have a little different approach to bitcoin from yours. It was before I was thinking in your direction but now a lot have changed for the better and I can boldly say that I am enjoying the process more. Before, I had this mindset that I had to deny myself everything, even cut down on the quality of food and other basic needs to be able to invest in bitcoin. I think this approach is not the best as it will make the journey stressful and full of fear. It is never wise to pay unbearable price to invest in bitcoin so that the aim of the investment is not defeated. There is nothing bad with investing little amount per time instead of starving yourself to buy bitcoin. As little as $15 per week, which is affordable for anyone with a good source of income, and spread across several years will yield something vey big.
Enjoying every process that occurs in collecting Bitcoin is of course very important and don't let us get caught up in holding onto the Bitcoin assets that we have collected and must also restrain ourselves from the needs we need as you have done before, of course this is not very good for you. ourselves and as you said is very true, this will make us anxious when we see market conditions that are not in accordance with what we want. And I agree with you, of course there is no harm in investing with a small amount according to the capabilities we have and not forcing ourselves if we are not able to do it in large amounts because it will be difficult to achieve the target we want due to the funds we use to invest. we are not ready to maintain it for a long period of time.
|
████████████████████ BitList ████████████████████ Real-Time Data Tracking Curated by The Community │││││││││││││ List #kycfree Websites │││││││││││││
|
|
|
|