Yes the rich got more advantage since they have more liquidity and constant supply of funds for their discretion but that shouldn't discourage poor people make them feel they're not in a good position to invest in Bitcoin. The thing is that some poor people lack patience and that's were their problem is, they want quick money and can't be patient enough to start small, maintain consistency and grow with time.
Some poor people even make the mistake of waiting till they get a better job or earn higher income before they start, I consider it a wrong step given that they could miss lots of buying opportunities before they could get the preferred amount they feel they could start with. There's no harm in start small then increase the amount of discretionary they wish to invest with as time goes.
Rich folks have enormous flow of discretionary income compared to poor peoples,which is an advantage these rich folks have that the poor Lacks. The rich folks have the leverage of accumulating bitcoin faster dued to there financial capabilities of investing larger amounts of discretionary income in bitcoin but poor folks shouldn't be discouraged because of that.
The mistake most Poor people often make is that there are afraid of starting small which is wrong. They want to start investing big in bitcoin. If they start waiting to invest big in bitcoin they might miss lots of good buying opportunities that could've been utilize to grow their bitcoin portfolio. The notion of waiting for the perfect time to invest is a bad idea,they shouldn't be afraid of starting small. They should focus on investing the little discretionary income that is available, maintain consistent for two cycles while they work on increasing there income they will grow over time
Yep.. even though poor people are disadvantaged they should not be discouraged or go down the road of gambling rather than investing.
Like you mentioned, poor people might get into a mindset that they have to be more strategic and buy on dips, and then they end up engaging in gambling on prices going down and in a wrong mindset as compared to if they focused on ongoingly stacking bitcoin no matter the price and otherwise striving to maintain their cashflow i order to slowly put themselves in a better and better position, even though it may well take several years and even perhaps figuring out ways to increase discretionary funds.. so they can invest more and also so that their cashflow management is backed up by actual cash..
Presently it has been more of an open field for institutional investors cause the price of bitcoin is still affordable for institutions. It still not an excuse to steer to shitcoins for their cheapness.
You sound distracted.
The fact that institutions, governments and/or status quo rich folks are recently seeming to buy more bitcoin should give some hints that ongoing buying of bitcoin might be a good idea rather than being worried about whether the BTC price might drop, when it might not.
Even if newbie bitcoiners might have trouble figuring out ways to establish a 4-10 year or longer investment timeline (and most cases more than 10 years unless you have age and/or health issues that interfere with that), they likely need to get started and to figure out that it is likely that they are investing in bitcoin for 10 years or longer. But hey whatever, newbies are free to wait and to get distracted by ideas the BTC price might drop, when it might not.
Pardon my distraction.
But the presence of the governments, large institutions and wealthy guys driving up price, it can drown the minds of normies whose basic knowledge and confident of bitcoin is shallow. Although if they can just start and be focused on personal approach with what they have and not have themselves caught in external distractions then they can come to a convenient timeline in the process already started.
The various battles around bitcoin are likely going to continue, so there is an advantage to stay focused on your own ongoing stacking, even if you might monitor bitcoin at the same time. Sure, maybe you have certain kinds of work that you do and how you spend your days to earn money... and at the same time, you can still dedicate a certain amount of time learning about bitcoin and learning about your own cashflows...
Historically there have been a lot of distractions related to bitcoin, and I doubt that the potential distractions into the future are going to go away.. .So if you are figuring out how much you can invest into bitcoin and how much you are going to keep in your back up funds.. and yeah, hopefully with the passage of time all of those continue to grow, even though the dollar value of the bitcoin might go up and down, but if you are striving for a 4-10 year or longer investment timeline, there are good chances that ongoing focus and doing what you can to increase your discretionary funds, you will be better off for involving yourself in bitocin as compared if you had not done so.
You don't need a wealth of knowledge to get started investing in bitcoin. All you need is some common sense and discretionary funds, and you can get started investing in bitcoin.
If you have common sense, then you know that you adjust your investment size to your knowledge level and if you don't have a lot of knowledge, then you likely would decide to start out investing with a small amount, and ONLY increase your amount invested (whether weekly or otherwise) as your comfort level increases.
People usually get lost wondering if they can begin bitcoin with the small income they have or if they could wait for a bigger money. They become lost in their own thought.
But with common sense they are informed of how dumb it is to sit there asses doing nothing. Common sense makes people to see benefits in begining bitcoin even with the amount that is on ground and increase as they go. So you are right Mister Jay, common sense is imperative just as having your discretionary income is.
Sometimes common sense might mean that a guy identifies that he needs to get better at math.. so then he might spend sometimes organizing and going over his various numbers and making sure that he understands his own numbers.
Common sense might also tell a guy who is new to investing into bitcoin that it is good to get started right away, yet since the guy is still uncomfortable with bitcoin, he is going to start with investing only $30 per week rather than $100 per week until he starts to get more comfortable and spend time learning the areas that he needs to learn that also include getting better acquainted with his own cashflows, which are all the kinds of skills and practices that anyone can learn as long as figures out some time to learn them and to practice to verify his levels..
So, maybe after 3 weeks he increases to $40 per week, then after 6 weeks he increases to $55 per week, and then after 12 weeks he increases to $75 per week, and then maybe after 29 weeks, he ends up feeling like he can increase to $125 per week.
The adjustments go along with the changes in the comfort level and also making sure that the levels are comfortable with the cashflows and the discretionary income and perhaps the building up of back up funds to the extent that the backup funds might not have had been enough in the beginning.
Common sense might tell him to look into each of
his 9 individual factors, even though he knows that he does not need to know them all in the beginning and he knows that the 9 individual factors are factors that change from time to time, and they might need to be reviewed at certain reasonable points in time to help to determine if any tweaks in what he is doing is justified....and there are ONLY so many hours in the day, so maybe the first 6-10 weeks the newbie decides that he is going to spend 2-4 hours 2 or three times per week researching further into bitcoin or putting together information regarding his own circumstances and/or changes of goals that he might have... that might even include a plan to take a course to gain some skills in order to increase his chances of promotion or cross training into another area.
What to do for each person is likely different, since some guys will have stronger skills in certain areas and weaker skills in other areas, so they might figure out which things they need to learn first and maybe determine that their knowledge is high enough in other areas.
