Buy Buy Buy or Sell Sell Sell?

[MainIbem]

Income plays a very important role in Bitcoin investment, but we shouldn't make it seem as if it is all about income and that you must have a good income first before you can buy Bitcoin. The most important thing to know is that irrespective of the income you make, you can still afford to buy Bitcoin.

If you think income is all you need and that the little income you have is too small for you to afford Bitcoin, there is a possibility that even if you increase your income, you may still not be able to afford to buy Bitcoin. This is because as your income increases, your demands also increase, and you will realize that you still struggle to buy Bitcoin. This is why I think buying Bitcoin has to do with mentality, good management of income, and not just about having the income only.

A good income is compulsory, not necessarily for the purpose of buying Bitcoin for the first time, but for consistency, accumulation, and discipline. Anyone can buy Bitcoin for the first time, but when we talk about consistency, only someone with a good income stream can be consistent. A good income stream means a source of income that is steady to cover basic expenses and provide discretionary income altogether. Unsteady one, today there is discretionary income, and tomorrow there is no discretionary income. That is not a steady income, which is very important for an investor to have a good income before thinking of long-term investment, except that they want to be a trader, which is frowned upon in this discussion.

Very correct it's not necessary compulsory to start accumulating but important for consistency, some people make mistake about both concepts but don't know that they can start buying if they have a discretionary funds available then try to get a job on the long run so they'll be consistent with their accumulation. Another thing i want to note is that investor doesn't have to wait until their income is too much to generate bigger discretionary before they start buying, the person can start with what's available then increase it as time goes and more discretionary fund could be generated.

[Nheer]

The main purpose of investing in Bitcoin is to make a profit.

Your statement will mislead some people here so you should be careful with your statements. May be you probably don't understand the true purpose of investment that's why. When your investment is centered on profits it shifts your mindset towards that of traders even when you claim to be investing for a long period of time. The main purpose of investing is not to make profit but to preserve and build a long time financial wealth in order to secure and achieve our future goals. Profit should never be the main purpose of investment, there's no guarantee of making profit so making it the main reason will only lead to making emotional decisions and risking too much.

Making profits is one of the benefits of investing but we shouldn't center our investment on profit making alone especially since it's not guaranteed.

[Bright0515]

When your investment is centered on profits it shifts your mindset towards that of traders even when you claim to be investing for a long period of time.

That's write mate, when someone has the mindset of a trader, it's very obvious that they will always monitor the price movement daily or let's just use the word "regular" and it will affect their portfolio because they might become emotional whenever they sees the price on constant Dip.
When an investor doesn't care much about profits the advantage of their investment to become more mature is very high because they care more on accumulating and holding for long term.
Honestly, when someone centered profits while investing into Bitcoin, they will panic to sell when there's any little decline in the price because their intentions are to make profits. Even though they have the long term mentality, they will still panic because that's not what they are expecting.

[Promocodeudo]

So many individuals focus only on how much they get but consistency bis what really changes things over the period. Having an extra source of income and using part of it for long term Bitcoin accumulation without touching one main income can reduce pressure financially and help build a solid assets gradually, little steps repeated for years can produce results most individuals never want.

I think we are disturbing ourselves much about extra income of a thing, having extra income is good but we must start first with our discreationary income, just as you have spoken, consistency is the key to a successful Bitcoin investor, as an investor that is seriously investing in Bitcoin for a long-term, our major concern should be being consistent, I'm not saying having multiple incomes isn't helpful but what if you only have just one source of income, if we have only one source for the moment, we can also be consistent and also continue to look for another source, I believe in what my small input can do in my portfolio if I'm steadily and gradually doing the needful.

[cyberninja2]

This is also a nice idea to have a side job for bitcoin investment but this can only be possible the side job is a discretionary income because  unlike some people it possible to have side job without a discretionary income, so it first begins with being comfortable with your needs from your major income before another a side job can act as a discretionary income for investment and building of emergency fund and probably discretionary spending.
But above all the most important word is HOLD even if folks don't get to have that luxury of have 2 source of income or enough discretionary to keep on buying, with the little they've been able to acquire they shouldn't let go so easily when it's not yet their preplanned investment timeline

Whether it's good or not depends on how we understand things like what we're talking about because one way to save Bitcoin investment is just by having a side job so that the Bitcoin investment we are making is safer so that there are no more sales after we have accumulated Bitcon with the aim of making long-term investments because if you don't have a side job I think it's difficult to make Bitcoin investments especially with a long-term duration of course that's not what we can say.

Apart from having the idea that we are discussing of course behind it all we are also required to have qualities that are probably very rarely carried out by all parties except for those who have a clear vision of the future namely how to hold back when someone is experiencing a very difficult economic situation so this is also very necessary for someone to have in investing in Bitcoin because this knowledge usually disappears from a person's mind when unexpected things come to someone, one of which is when the market price drops which makes everyone or parties panic about this condition so if they don't have the knowledge about how to hold back maybe they are one of them. People who fall into some of them cannot bear not making sales so investing really needs a way to understand how to maintain the amount of our investment by having a side job so that in the end the amount of investment that we have accumulated is saved from panic and there are no sudden sales.

[SPIDERMAN008]

So many individuals focus only on how much they get but consistency bis what really changes things over the period. Having an extra source of income and using part of it for long term Bitcoin accumulation without touching one main income can reduce pressure financially and help build a solid assets gradually, little steps repeated for years can produce results most individuals never want.

I think we are disturbing ourselves much about extra income of a thing, having extra income is good but we must start first with our discreationary income, just as you have spoken, consistency is the key to a successful Bitcoin investor, as an investor that is seriously investing in Bitcoin for a long-term, our major concern should be being consistent, I'm not saying having multiple incomes isn't helpful but what if you only have just one source of income, if we have only one source for the moment, we can also be consistent and also continue to look for another source, I believe in what my small input can do in my portfolio if I'm steadily and gradually doing the needful.

The issue of making alternative the income source that you mentioned is really important in Bitcoin investment. Because if there is only one income source, it can stop at any time. Then it will not be possible to continue investing in Bitcoin, but an investor may have to struggle to meet his own expenses. Considering all these things, it is better to arrange an alternative income source. For example, if someone is doing job , then in addition to his job, he can look for a small business or a remote job in his extra time, from which he can earn a fair amount. In this case, if he suddenly does not have a job, he will still be able to at least continue his daily life expenses. If arranging an alternative income is difficult for someone, then I think it is important to keep his backup fund a little strong. Especially if he wants, it would be better to keep the equivalent of 6 months of expenses as a backup fund.

[Just Say]

What's your take on this? Given the period we're in is it buy time or sell time?

You buy Bitcoin, sell Bitcoin, not buy time or sell time.

This bull run will last many months and it's time for you to buy if you react as an investor and plan to spend your money for investment in more than 6 months or 1 year.

Buying and holding it, don't selling it around this time. It's not time for selling Bitcoin.

Don't sell your Bitcoin to Wall Street.

In think Long - term investors gets it big the most sometimes, because they buys coins and keeps for a long period of time and it gradually grows perfectly to a specific time we're they can sell and re buy.

Which currency are you talking about, if you are referring to Bitcoin, then why would people gradually accumulate Bitcoins for a certain period of time and then sell their entire portfolio and buy them again, in fact, after reaching this stage, everyone should have kept their investment portfolio longer because that is the maintenance stage. Those who started from scratch and reached the legendary level of Bitcoin investment have a goal to invest in BTC because those investors take on more robust responsibility for maintaining their BTC after accumulating sufficient amounts, I would like to say that even if they accumulate an excess amount of Bitcoin, the portfolio should not be made a no-coiner and the goal should be that if one percent of Bitcoin is sold, another four or five percent of Bitcoin should be purchased to make up for the shortfall later.

[Y3shot]

I think we are disturbing ourselves much about extra income of a thing, having extra income is good but we must start first with our discreationary income, just as you have spoken, consistency is the key to a successful Bitcoin investor, as an investor that is seriously investing in Bitcoin for a long-term, our major concern should be being consistent, I'm not saying having multiple incomes isn't helpful but what if you only have just one source of income, if we have only one source for the moment, we can also be consistent and also continue to look for another source, I believe in what my small input can do in my portfolio if I'm steadily and gradually doing the needful.

The main goal is to buy with an amount that you can afford to lose. Increasing income is very good, but if we should be honest with ourselves, it is not something one achieves immediately; sometimes it can take a long time. At this point, what is expected from one is to buy an amount that you are capable of and to be consistent in buying. However, a lot of investors think it is about the income, and this affects them in starting small and being consistent because a line has already been drawn that income is a limitation to buying bitcoin.

[Sulegzy39]

Selling and rebuying is not a good strategy to manage your portfolio after investing in bitcoin for a long time; instead, you should withdraw consistently from it. Why sell in the first place if you want to rebuy? It certainly sounds like a stupid thing to do, and you may not be lucky enough to purchase back cheaper, turning you into a low coiner or worse, a no coiner after spending a long time holding bitcoin, wreaking havoc on your holdings that you have worked hard to build. In the long run, after your holding time has expired, you can take profits and begin withdrawing from your bitcoin portfolio in a sustainable manner; but, attempting to sell and purchase back cheaper is trading, which is a very stupid thing to do.

[Furious 7]

The main purpose of investing in Bitcoin is to make a profit. Although there is uncertainty about making a profit in Bitcoin in the short term, the possibility of making a profit in Bitcoin in the long term is high. But has Ethereum been able to gain that trust yet? When did we last see an ATH in Ethereum? That is still unknown. So I think it is still wrong to associate the name of Ethereum with Bitcoin. However, you can fill a small part of your stash with Ethereum to diversify your investment.

It is better to keep our full attention on Bitcoin in the beginning. You should not focus on diversification or altcoins in the beginning. To better understand the positive aspects of Bitcoin, you can have knowledge about Shitcoins. This knowledge will help you to be more confident in Bitcoin.

This for me is quite tricky although it cannot be denied when we expect profit but it cannot necessarily be used as the main goal because for me when I am in bitcoin and make this a long-term investment is in addition to the financial hedge that I have, I also expect financial freedom even though it is also a profit but if the main focus is only on profit then you can sell anytime when you are profitable and I don't do that because for me this is not just a profit that I am looking for when investing in bitcoin.

Furthermore for altcoins and shitcoins it never entered for me (at this time) I have done in the first few years of being on the forum but since the last 2 halvings I stopped that because I did not get anything so I only focus on bitcoin for now.  For the beginning let's say I was too naive by believing every what I bought could make this as a hedge but for now I only believe in bitcoin not for anything else. Because I have felt that and I will make it an experience so that I never touch shitcoin again for now.

[aNot!FicaT!on]

I think we are disturbing ourselves much about extra income of a thing, having extra income is good but we must start first with our discreationary income, just as you have spoken, consistency is the key to a successful Bitcoin investor, as an investor that is seriously investing in Bitcoin for a long-term, our major concern should be being consistent, I'm not saying having multiple incomes isn't helpful but what if you only have just one source of income, if we have only one source for the moment, we can also be consistent and also continue to look for another source, I believe in what my small input can do in my portfolio if I'm steadily and gradually doing the needful.

The main goal is to buy with an amount that you can afford to lose. Increasing income is very good, but if we should be honest with ourselves, it is not something one achieves immediately; sometimes it can take a long time. At this point, what is expected from one is to buy an amount that you are capable of and to be consistent in buying. However, a lot of investors think it is about the income, and this affects them in starting small and being consistent because a line has already been drawn that income is a limitation to buying bitcoin.

There are many who think that when their income increases, they will start investing, but in reality this thought prevents many from starting year after year. Even if their income increases, they also have new ways of spending, then their expenses also increase, and then they think again that when their income increases a little more, they will start investing, but it continues and in this way they cannot start investing.
But here they should understand very well that the most important thing in investing is not just a large sum of money but consistency, patience and staying within your capabilities. According to your current income, whatever you have is enough to start, you have to start this first. Starting with little is not a weakness. Rather, those who buy and learn regularly even with limited capabilities, in the long run, are the ones who develop the most experience and discipline. So it is better to start slowly according to your capabilities, but waiting to start, it will only push you further back.

[Sim_card]

Unsteady one, today there is discretionary income, and tomorrow there is no discretionary income. That is not a steady income, which is very important for an investor to have a good income before thinking of long-term investment, except that they want to be a trader, which is frowned upon in this discussion.

All you need is your discretionary income to get started and have a long-term mindset of investing. Even if you buy bitcoin once in a while with your discretionary income, you can still hodli for long provided you didn't sell it, so don't get it twisted that people without a steady income will end up being a trader because your mindset matters a lot.

Someone without a regular income can buy bitcoin with his discretionary income and learn along the line, he will be motivated to improve his financial strength by looking for a second means of income to boost his income in order to have a discretionary income. He can get his discretionary income from his second job. He can learn a skill or improve his income in order for him to be able to have a regular discretionary income and DCA regularly weekly, consistently and persistently for 4-10 years and above till he reach his bitcoin target.

The most important thing which prior to a regular income is get started provided you have your discretionary income whether, it's regular or not.

it would be better to keep the equivalent of 6 months of expenses as a backup fund.

It's better not to stretch yourself too much and slow down your bitcoin investment by holding down too much cash as an emergency funds that you should have grow your bitcoin investment. Remember that fiat loses its purchasing power over time and bitcoin preserves the value of your funds.

An investor with a low discretionary income would find it very difficult to build an emergency funds of 6 months of his monthly expenses because for him to build an emergency funds of three months of his expenses will take up to a year or more.

No need for an emergency funds of 6 months, three months is OK since you will also set up other backup funds so that, you can concentrate and stay focus on building your bitcoin portfolio as fast as you can in order to reach your bitcoin target.

[Sonia_123]

I think we are disturbing ourselves much about extra income of a thing, having extra income is good but we must start first with our discreationary income, just as you have spoken, consistency is the key to a successful Bitcoin investor, as an investor that is seriously investing in Bitcoin for a long-term, our major concern should be being consistent, I'm not saying having multiple incomes isn't helpful but what if you only have just one source of income, if we have only one source for the moment, we can also be consistent and also continue to look for another source, I believe in what my small input can do in my portfolio if I'm steadily and gradually doing the needful.

The main goal is to buy with an amount that you can afford to lose. Increasing income is very good, but if we should be honest with ourselves, it is not something one achieves immediately; sometimes it can take a long time. At this point, what is expected from one is to buy an amount that you are capable of and to be consistent in buying. However, a lot of investors think it is about the income, and this affects them in starting small and being consistent because a line has already been drawn that income is a limitation to buying bitcoin.

There are many who think that when their income increases, they will start investing, but in reality this thought prevents many from starting year after year. Even if their income increases, they also have new ways of spending, then their expenses also increase, and then they think again that when their income increases a little more, they will start investing, but it continues and in this way they cannot start investing.

Any investor behaving like this is not ready to invest into bitcoin but only deceiving himself because time waits for no one the earlier you start the better for you.

 Such persons are out there to discourage others that are not strong in investing into bitcoin, the sit at the fence of the market to always complain about the price of bitcoin pretending as if they are interested.

[laspol65]

There are many who think that when their income increases, they will start investing, but in reality this thought prevents many from starting year after year. Even if their income increases, they also have new ways of spending, then their expenses also increase, and then they think again that when their income increases a little more, they will start investing, but it continues and in this way they cannot start investing.

Any investor behaving like this is not ready to invest into bitcoin but only deceiving himself because time waits for no one the earlier you start the better for you.
 Such persons are out there to discourage others that are not strong in investing into bitcoin, the sit at the fence of the market to always complain about the price of bitcoin pretending as if they are interested.

Those who participate in Bitcoin investment will not do any kind of speculation, those who are ideal investors are basically capable of strengthening their own Bitcoin holdings. Therefore, they take the opportunity to buy Bitcoin repeatedly and increase their Bitcoin holdings more and more and adopt sufficient strategies to keep them safe.
By investing in Bitcoin according to the DCA strategy, they are open to success, therefore those who will hold according to the Bitcoin DCA method are a good future planner.

[BluebloodCXVI]

Selling and rebuying is not a good strategy to manage your portfolio after investing in bitcoin for a long time; instead, you should withdraw consistently from it. Why sell in the first place if you want to rebuy? It certainly sounds like a stupid thing to do, and you may not be lucky enough to purchase back cheaper, turning you into a low coiner or worse, a no coiner after spending a long time holding bitcoin, wreaking havoc on your holdings that you have worked hard to build. In the long run, after your holding time has expired, you can take profits and begin withdrawing from your bitcoin portfolio in a sustainable manner; but, attempting to sell and purchase back cheaper is trading, which is a very stupid thing to do.

I get the point you’re making here because it is true that constantly selling from your stash and hoping to buy back lower can become a trap. A lot of people underestimate how difficult it is to time the market, and many end up reducing their position over time instead of increasing it.
But on the other hand, if someone reaches an over-accumulation stage where a huge percentage of their net worth is sitting in one asset, taking some profits or rebalancing doesn’t automatically mean they lack conviction, to me I just think they are deciding to prioritize risk management and capital preservation along with growth.