Bitcoin in the next decade

[Dogedegen]

Even for well to do people, it can likely take way more than 10 years to build up an investment.  In traditional systems guys might invest 30-40 years or more and still never make it to fuck you status.  In bitcoin, maybe there are possibilities to reduce a normal investment timeline in half if the guys do not fuck up along the way that they are building their bitcoin investment.  I don't see any problem with normies checking their progress on a regular basis and even gamifying it.. even if the progress is slow and even if they might not change their tactics based on their possible slow and sometimes difficult to measure progress.

Exactly that is my point, somehow a good number of people have become addicted to get rich quick schemes. To this topic maybe some stories of how people made a lot of money in Bitcoin are detrimental. There have been people who got lucky or had foresight, but that they held for so long is very rare it is similar to focusing on lottery winners. It is not good at all. I believe that those that are blinded by these perspectives are misguided and it is those that consider building a portfolio for a long time as a negative or even as an exception for Bitcoin. We must be clear that 10 years is probably a medium time at most for building a portfolio. While Bitcoin is young, a 10 years with Bitcoin is a long time because of this we have to remind them of what the long-term really means. Sometimes I see people here writing how you have to hold for the long time, like 5 years or longer and stuff like that. 5 years is long for them.   

Many times DCA investing is a set-it and forget-it kind of an investment style... so sure, there could be some value in regards to setting it and forgetting it, yet part of the problem with that approach is that there likely is some value to learn about bitcoin and to sort through the ongoing and likely inevitable spread of FUD and bullshit...   So yeah, there can be value either way.. even though I am more of an advocate of paying attention and learning, even though I know some folks who are more inclined towards set it and forget it kinds of investing.

There is a lot of value to learn to Bitcoin that stands true, but we are comparing multiple cases here and possibilities. For example some people may not want to learn about Bitcoin for whatever wrong reasons, they may simply not care but they see it as a good investment opportunity. As you see many people are apathetic to a lot of important things there days. Now for those people a DCA set-it and forget-it investment style is better than sitting around in daily anxiety, reading the 1000th thread that is full of misinformation about quantum computers and whatever else is happening. A lot of people that are posting false information like this don't even know the topic that they are talking about, they are just engagement farming with fearful statements. Bitcoin must adapt in 5 years or the world is over, this kind of doomsday stuff. 

if we are talking about bitcoin with someone who is considering investing into bitcoin, are you going to recommend a set it and forget it approach?  I know some folks do recommend that kinds of an approach.. and some of them might not be recommending DCA,. but instead lump sum .. such as put in $1k and forget about it.. and then those folks might end up being way underinvested as compared with what they could have had been or should have had been, which is part of the reason that I don't really like the set it and forget it approach, especially when it comes to how many folks end up applying a lump sum investment approach that ends up being way too whimpy.

My preference is people to learn about Bitcoin and do DCA style investing, but if they will come back and panic about it on a weekly basis whether about the price or doomsday news then it better that they forget about it and just automatically DCA. If you compare this to traditional investing, people often buy bank or other funds or pools and in most cases they don't even know the companies that the fund invests in. They only occasionally look at the current performance, which will vary a lot during a single year depending on the risk level of the fund. Those same people could be buying Bitcoin the same way,  I don't see why not. Why expose themselves to almost daily FUD when they never read any FUD about the companies that the fund invests it? It is not that there isn't any FUD, there always is but maybe not in the same amount as with Bitcoin.

So for those people that can withstand or avoid this consistent panicking or anxiety, through whatever means then I do welcome a pairing of learning Bitcoin while DCA is buying. What I don't recommend though is that someone fully familiarize themselves with Bitcoin before they start buying anything. This is because depending on the age and background of the person, it can take months or even years to even get the complete foundational knowledge of Bitcoin. And besides that, one can never really say that they know everything that there is to know about Bitcoin. It could be a lifelong journey of learning more and more, there is no need to wait to start some DCA. Probably though they would increase their DCA as they start understanding the key value proposition of Bitcoin and the reasons for which it is unique.

What I see often happen with normies is that they get excited with Bitcoin, some even invest at the right time by chance after which the price continues to go up. However as soon as it starts going back down a bit which is normal market behavior, even if they are quite in the green let's say 50% they already start having doubts. I know a few people who sold like this.

That is likely overinvesting.. so yeah, you are right.  They come in blazing, and they might even have intentions to invest in bitcoin forever, but the downward movement in price puts them into loss aversion mode... so they may well end up selling at a loss, just so that they don't lose anymore money than they had felt that they had already lost... Yep.. I will agree that ends up being a fairly common approach to bitcoin.

Maybe, but I have seen it also happen to people who invest little and with the young people. Overinvesting tends to be loosely defined, someone who is very young could invest a couple hundred dollars and totally take that as a loss but they may not want to for any number of reasons. Overinvesting, impatience and a lack of knowledge about how markets work maybe some combination of these depending on the particular case.

[Son Of Blockchain (SOB)]

I can't help but agree with those saying that Bitcoin is more of a tool for the rich to reach their long-term goals than it is for the poor to do something for their future, and I'm not saying this to discourage anyone, everyone should invest as much as they can, but I'm just saying that one shouldn't expect the unimaginable and then get hurt, or have no other plans because they think everything will be managed through this.

What you don't understand is that someone can't remain poor forever so far they're working hard or smart enough, they’ll gradually leave their poor state on the long run since much effort is being put in to evolve from poor to rich, investing in Bitcoin alone is a bold step for poor people or should I rather use "shrimps", since Bitcoin gives hope for financial freedom they'll gradually leave that state if they're patient and remain consistent.
 If you have that ideology cincerning the rich and poor then why is their the DCA? don't you think poor people can start gradually (small) till they generate more income to expand their discretionary? Ponder on the statement i bolded.

[free-bit.co.in]

I can't help but agree with those saying that Bitcoin is more of a tool for the rich to reach their long-term goals than it is for the poor to do something for their future, and I'm not saying this to discourage anyone, everyone should invest as much as they can, but I'm just saying that one shouldn't expect the unimaginable and then get hurt, or have no other plans because they think everything will be managed through this.

What you don't understand is that someone can't remain poor forever so far they're working hard or smart enough, they’ll gradually leave their poor state on the long run since much effort is being put in to evolve from poor to rich, investing in Bitcoin alone is a bold step for poor people or should I rather use "shrimps", since Bitcoin gives hope for financial freedom they'll gradually leave that state if they're patient and remain consistent.
 If you have that ideology cincerning the rich and poor then why is their the DCA? don't you think poor people can start gradually (small) till they generate more income to expand their discretionary? Ponder on the statement i bolded.

I do not think investing in bitcoin is a bold move for the poor, but rather, it is a smart decision

Bitcoin is a financial tool for everyone, not just the rich or the poor. Bitcoin also cannot guarantee or promise anything to anyone. Bitcoin simply presents an opportunity, and only those who know how to seize and utilize it correctly can benefit from that opportunity

Those who want to escape poverty need to work harder, put in more effort than the average person, and have a smart strategy. Relying solely on Bitcoin to escape poverty is very difficult, because Bitcoin is not a get rich quick scheme.

[JayJuanGee]

Even for well to do people, it can likely take way more than 10 years to build up an investment.  In traditional systems guys might invest 30-40 years or more and still never make it to fuck you status.  In bitcoin, maybe there are possibilities to reduce a normal investment timeline in half if the guys do not fuck up along the way that they are building their bitcoin investment.  I don't see any problem with normies checking their progress on a regular basis and even gamifying it.. even if the progress is slow and even if they might not change their tactics based on their possible slow and sometimes difficult to measure progress.

Exactly that is my point, somehow a good number of people have become addicted to get rich quick schemes. To this topic maybe some stories of how people made a lot of money in Bitcoin are detrimental. There have been people who got lucky or had foresight, but that they held for so long is very rare it is similar to focusing on lottery winners. It is not good at all. I believe that those that are blinded by these perspectives are misguided and it is those that consider building a portfolio for a long time as a negative or even as an exception for Bitcoin. We must be clear that 10 years is probably a medium time at most for building a portfolio. While Bitcoin is young, a 10 years with Bitcoin is a long time because of this we have to remind them of what the long-term really means. Sometimes I see people here writing how you have to hold for the long time, like 5 years or longer and stuff like that. 5 years is long for them.   

Many times DCA investing is a set-it and forget-it kind of an investment style... so sure, there could be some value in regards to setting it and forgetting it, yet part of the problem with that approach is that there likely is some value to learn about bitcoin and to sort through the ongoing and likely inevitable spread of FUD and bullshit...   So yeah, there can be value either way.. even though I am more of an advocate of paying attention and learning, even though I know some folks who are more inclined towards set it and forget it kinds of investing.

There is a lot of value to learn to Bitcoin that stands true, but we are comparing multiple cases here and possibilities. For example some people may not want to learn about Bitcoin for whatever wrong reasons, they may simply not care but they see it as a good investment opportunity. As you see many people are apathetic to a lot of important things there days. Now for those people a DCA set-it and forget-it investment style is better than sitting around in daily anxiety, reading the 1000th thread that is full of misinformation about quantum computers and whatever else is happening. A lot of people that are posting false information like this don't even know the topic that they are talking about, they are just engagement farming with fearful statements. Bitcoin must adapt in 5 years or the world is over, this kind of doomsday stuff. 

For sure part of the reason that DCAing into bitcoin is so great is that there are ways to just pick a level of investment that is comfortable, whether it is $100 per week, $10 per week or some other amount, and even if they are feeling that they don't know what to do, it is likely that a couple cycles does the road they will be in a better position for having had gotten involved in bitcoin as compared if they had not.

I surely to recommend a bit more of an activist approach at least in terms of studying our own 9 individual factors and perhaps learning aspects about bitcoin and self custody, yet those things don't have to be learned right away, but instead can be paced, and yeah, maybe looking at bitcoin 4-10 hours per month might be enough, and surely the more familiar we get with it, then maybe we will not need to continue to study it, even though frequently some good can come from trying to monitor your investment at various points along the way and even consider if any tweaks might need to be done in terms of your bitcoin investment and/or your cash flow management systems/practices.

if we are talking about bitcoin with someone who is considering investing into bitcoin, are you going to recommend a set it and forget it approach?  I know some folks do recommend that kinds of an approach.. and some of them might not be recommending DCA,. but instead lump sum .. such as put in $1k and forget about it.. and then those folks might end up being way underinvested as compared with what they could have had been or should have had been, which is part of the reason that I don't really like the set it and forget it approach, especially when it comes to how many folks end up applying a lump sum investment approach that ends up being way too whimpy.

My preference is people to learn about Bitcoin and do DCA style investing, but if they will come back and panic about it on a weekly basis whether about the price or doomsday news then it better that they forget about it and just automatically DCA. If you compare this to traditional investing, people often buy bank or other funds or pools and in most cases they don't even know the companies that the fund invests in. They only occasionally look at the current performance, which will vary a lot during a single year depending on the risk level of the fund. Those same people could be buying Bitcoin the same way,  I don't see why not. Why expose themselves to almost daily FUD when they never read any FUD about the companies that the fund invests it? It is not that there isn't any FUD, there always is but maybe not in the same amount as with Bitcoin.

So for those people that can withstand or avoid this consistent panicking or anxiety, through whatever means then I do welcome a pairing of learning Bitcoin while DCA is buying. What I don't recommend though is that someone fully familiarize themselves with Bitcoin before they start buying anything. This is because depending on the age and background of the person, it can take months or even years to even get the complete foundational knowledge of Bitcoin. And besides that, one can never really say that they know everything that there is to know about Bitcoin. It could be a lifelong journey of learning more and more, there is no need to wait to start some DCA. Probably though they would increase their DCA as they start understanding the key value proposition of Bitcoin and the reasons for which it is unique.

That is true about the lifelong learning angle.  There surely are people who pick up things quicker, and others take a long time.  There are a lot of angles to bitcoin, so it can take a long time to get comfortable - even though bitcoin as compared with other investments is ONLY 1 of the 9 factors, and the other 9 factors is learning about themselves and their own ways of balancing matters.

Sometimes we would observe that if guys are getting too emotional then they might be overinvested or they might be bein too aggressive for their own knowledge level, and it could be the case that guys could choose automatic DCA, even though I personally am not much of a fan of automatic  rather than manual DCA.

What I see often happen with normies is that they get excited with Bitcoin, some even invest at the right time by chance after which the price continues to go up. However as soon as it starts going back down a bit which is normal market behavior, even if they are quite in the green let's say 50% they already start having doubts. I know a few people who sold like this.

That is likely overinvesting.. so yeah, you are right.  They come in blazing, and they might even have intentions to invest in bitcoin forever, but the downward movement in price puts them into loss aversion mode... so they may well end up selling at a loss, just so that they don't lose anymore money than they had felt that they had already lost... Yep.. I will agree that ends up being a fairly common approach to bitcoin.

Maybe, but I have seen it also happen to people who invest little and with the young people. Overinvesting tends to be loosely defined, someone who is very young could invest a couple hundred dollars and totally take that as a loss but they may not want to for any number of reasons. Overinvesting, impatience and a lack of knowledge about how markets work maybe some combination of these depending on the particular case.

Experience helps and perhaps starting out slow can help a person to get used to it, so the person who knows that he is capable of investing $100 per week, he might purposefully decide to start out at $30 per week until he gets his comfort level to a better place.

I can't help but agree with those saying that Bitcoin is more of a tool for the rich to reach their long-term goals than it is for the poor to do something for their future, and I'm not saying this to discourage anyone, everyone should invest as much as they can, but I'm just saying that one shouldn't expect the unimaginable and then get hurt, or have no other plans because they think everything will be managed through this.

What you don't understand is that someone can't remain poor forever so far they're working hard or smart enough, they’ll gradually leave their poor state on the long run since much effort is being put in to evolve from poor to rich, investing in Bitcoin alone is a bold step for poor people or should I rather use "shrimps", since Bitcoin gives hope for financial freedom they'll gradually leave that state if they're patient and remain consistent.
 If you have that ideology cincerning the rich and poor then why is their the DCA? don't you think poor people can start gradually (small) till they generate more income to expand their discretionary? Ponder on the statement i bolded.

I think that a lot of people can stay poor forever.

Bitcoin gives a vehicle to provide chances to improve finances by organizing oneself and staying consistent, persistent, regular ongoing and perhaps even aggressive in their accumulating of bitcoin through buying techniques... so they can have a lot of challenges that interfere with their abilities to continue to build their bitcoin investment and to strengthen their cashflow management systems/practices.

Some folks also have difficulties to increase their discretionary income, so that also might keep them poor forever.

Bitcoin gives some great options, but if a person cannot put himself and keep himself in a state of having discretionary income, and if he ends up tapping into his bitcoin too soon, then the bitcoin might end up not helping him out.

There are risks with the asset and there are execution risks. Both can be mitigated, yet some folks might be in situations where they really don't have enough discretionary income in order to invest in bitcoin, and many of us recommend against trying to trade bitcoin.

[Frankolala]

Those who want to escape poverty need to work harder, put in more effort than the average person, and have a smart strategy. Relying solely on Bitcoin to escape poverty is very difficult, because Bitcoin is not a get rich quick scheme.

If a poor man has his discretionary income to be as little as $10, he can start his bitcoin investment with DCA  at least it's better than nothing provided he is a long-term investor and will continue buying weekly overtime. I believe in ten years time his financial status will upgrade and will be better than someone who was in the same financial state with him years ago without investing into bitcoin.

However, the investor can work on improving his discretionary income after he has been motivated with the price movement of bitcoin and feel he needs to buy more above $10. He can learn an additional skill or get a second job so that he can earn more and increase the money that he's using to DCA since his discretionary income will increase after he gets a second means of income.

[FortuneFollower]

Those who want to escape poverty need to work harder, put in more effort than the average person, and have a smart strategy. Relying solely on Bitcoin to escape poverty is very difficult, because Bitcoin is not a get rich quick scheme.

If a poor man has his discretionary income to be as little as $10, he can start his bitcoin investment with DCA  at least it's better than nothing provided he is a long-term investor and will continue buying weekly overtime. I believe in ten years time his financial status will upgrade and will be better than someone who was in the same financial state with him years ago without investing into bitcoin.

However, the investor can work on improving his discretionary income after he has been motivated with the price movement of bitcoin and feel he needs to buy more above $10. He can learn an additional skill or get a second job so that he can earn more and increase the money that he's using to DCA since his discretionary income will increase after he gets a second means of income.

I wouldn't think said 10 dollars would change his status even in the long run.. I would think it a different way - such person should do everything to put more into BTC weekly / monthly in order for it to bring results in 1-2-3 cycles.

Getting the right skills, networking, and a job that would allow you to spare much more funds for investing without risk of needing to turn your BTC back into fiat due to the needs that may arise.

[BALIK]

Those who want to escape poverty need to work harder, put in more effort than the average person, and have a smart strategy. Relying solely on Bitcoin to escape poverty is very difficult, because Bitcoin is not a get rich quick scheme.

If a poor man has his discretionary income to be as little as $10, he can start his bitcoin investment with DCA  at least it's better than nothing provided he is a long-term investor and will continue buying weekly overtime. I believe in ten years time his financial status will upgrade and will be better than someone who was in the same financial state with him years ago without investing into bitcoin.

However, the investor can work on improving his discretionary income after he has been motivated with the price movement of bitcoin and feel he needs to buy more above $10. He can learn an additional skill or get a second job so that he can earn more and increase the money that he's using to DCA since his discretionary income will increase after he gets a second means of income.

I wouldn't think said 10 dollars would change his status even in the long run.. I would think it a different way - such person should do everything to put more into BTC weekly / monthly in order for it to bring results in 1-2-3 cycles.

Getting the right skills, networking, and a job that would allow you to spare much more funds for investing without risk of needing to turn your BTC back into fiat due to the needs that may arise.

$10 will not change his status, but I agree with what Frankolala said. Investing $10 in Bitcoin is still far better than doing nothing or putting that money in a bank.

Bitcoin cannot guarantee that we will change our status or become rich because that depend on many factors such as capital, time, and each person's knowledge. But at least, investing in bitcoin will yield significantly greater returns than other assets with the same amount of capital. Therefore, invest in Bitcoin no matter how small your capital is.

[cxtreenal]

For sure part of the reason that DCAing into bitcoin is so great is that there are ways to just pick a level of investment that is comfortable, whether it is $100 per week, $10 per week or some other amount, and even if they are feeling that they don't know what to do, it is likely that a couple cycles does the road they will be in a better position for having had gotten involved in bitcoin as compared if they had not.

Surely, DCA is one of the most comfortable strategies. It can be done by those who earn very little and it is also a more suitable strategy for investors with any other large income. If you accumulation $10 Bitcoin per week, the Bitcoin holding will be $520 per year and this amount is not very small for a poor investor. Thus, if that investor can do DCA regularly for 4 years, then this amount will be $2080 and if the price of Bitcoin increases by 50%-80% during this time, then that poor investor could never have imagined that he would actually be able to make so much profit in any other investment. Thus, if that investor continues to run DCA regularly for 4 more years, he will get a huge Bitcoin holding. Therefore he can continue accumulation Bitcoin as long as he has a source of income.

Another important thing is that the income of that poor investor as well as the amount of discretionary income will definitely increase and he will be able to increase the amount of Bitcoin DCA with his income. Now you decide how comfortable and easy it is for a poor investor to make his profit by using the DCA method of Bitcoin accumulation.

[Son Of Blockchain (SOB)]

For sure part of the reason that DCAing into bitcoin is so great is that there are ways to just pick a level of investment that is comfortable, whether it is $100 per week, $10 per week or some other amount, and even if they are feeling that they don't know what to do, it is likely that a couple cycles does the road they will be in a better position for having had gotten involved in bitcoin as compared if they had not.

Surely, DCA is one of the most comfortable strategies. It can be done by those who earn very little and it is also a more suitable strategy for investors with any other large income. If you accumulation $10 Bitcoin per week, the Bitcoin holding will be $520 per year and this amount is not very small for a poor investor. Thus, if that investor can do DCA regularly for 4 years, then this amount will be $2080 and if the price of Bitcoin increases by 50%-80% during this time, then that poor investor could never have imagined that he would actually be able to make so much profit in any other investment. Thus, if that investor continues to run DCA regularly for 4 more years, he will get a huge Bitcoin holding. Therefore he can continue accumulation Bitcoin as long as he has a source of income.

Another important thing is that the income of that poor investor as well as the amount of discretionary income will definitely increase and he will be able to increase the amount of Bitcoin DCA with his income. Now you decide how comfortable and easy it is for a poor investor to make his profit by using the DCA method of Bitcoin accumulation.

Only those who don't have a means of generating income would be worried about investing for long-term cause even though one is poor, so far the person has a steady income where he can generate his discretionary fund from, he can comfortably investment consistently and still have funds to meet up other needs.
 Except maybe he's someone who spend recklessly despite being poor, then he has to learn to manage his funds and cut cost and also avoid spending recklessly if he's serious and really wants to invest in Bitcoin without having obstacles that would affect them on the long run. Thanks to the DCA, poor people can comfortably invest without bothering about the price of Bitcoin but most of them are not aware which is why they feel that Bitcoin is for the rich.

[Frankolala]

Those who don't have any means of income should look for a means of income with a discretionary income so that they can invest amd hodli for long because that's the best thing they can do to multiply their bitcoin hodling in future sinve the price of bitcoin increases overtime. Getting started is very important even without a stable income, you can buy once in a while, when the money is available.

[Just Say]

For sure part of the reason that DCAing into bitcoin is so great is that there are ways to just pick a level of investment that is comfortable, whether it is $100 per week, $10 per week or some other amount, and even if they are feeling that they don't know what to do, it is likely that a couple cycles does the road they will be in a better position for having had gotten involved in bitcoin as compared if they had not.

Surely, DCA is one of the most comfortable strategies. It can be done by those who earn very little and it is also a more suitable strategy for investors with any other large income. If you accumulation $10 Bitcoin per week, the Bitcoin holding will be $520 per year and this amount is not very small for a poor investor. Thus, if that investor can do DCA regularly for 4 years, then this amount will be $2080 and if the price of Bitcoin increases by 50%-80% during this time, then that poor investor could never have imagined that he would actually be able to make so much profit in any other investment. Thus, if that investor continues to run DCA regularly for 4 more years, he will get a huge Bitcoin holding. Therefore he can continue accumulation Bitcoin as long as he has a source of income.

Another important thing is that the income of that poor investor as well as the amount of discretionary income will definitely increase and he will be able to increase the amount of Bitcoin DCA with his income. Now you decide how comfortable and easy it is for a poor investor to make his profit by using the DCA method of Bitcoin accumulation.

Only those who don't have a means of generating income would be worried about investing for long-term cause even though one is poor, so far the person has a steady income where he can generate his discretionary fund from, he can comfortably investment consistently and still have funds to meet up other needs.
 Except maybe he's someone who spend recklessly despite being poor, then he has to learn to manage his funds and cut cost and also avoid spending recklessly if he's serious and really wants to invest in Bitcoin without having obstacles that would affect them on the long run. Thanks to the DCA, poor people can comfortably invest without bothering about the price of Bitcoin but most of them are not aware which is why they feel that Bitcoin is for the rich.

It's easy for those who have discretionary income to invest in this bitcoin. However, you should know that many poor people are saving their money and it is depreciating every year, so if they invest that money in Bitcoin, I think they will not fall into the economy crisis. You (@Son Of Blockchain) are right that the DCA investment process brings a golden opportunity for the poor because they can invest in bttc with any amount of money without worrying about the price of Bitcoin because they can start with a very small amount like $1-$10 dollars, anyway investing in digital currency may be the best option, especially in places where the value of the local currency is declining, such as in Iran.

[Dogedegen]

What you don't understand is that someone can't remain poor forever so far they're working hard or smart enough, they’ll gradually leave their poor state on the long run since much effort is being put in to evolve from poor to rich

I think that you are generalizing a bit things and confusing different concepts, and your statement is wrong because of that. Actually most people who work hard their who lives remain poor, or in the lowest economic classes and this is primarily because they don't work smart. You will find most people are stuck in the same job or trade their whole lives, many of them will be average workers but there you will also find many very hard workers. Hard work does not guarantee you any success. Does being the best floor sweeper guarantee you will be a millionaire? When evaluated between each other, the smart worker is preferable over the hard worker. You can see this in IT too, there are people that would prefer to do some slow data entry stuff manually many times than they would prefer to learn a way to write scripts to automate it. This is because they are used to working one way, even if they are diligent and working in detail, but they are still making a mistake. Optimally someone is going to be both a smart and hard worker but that is very rare.

I do not think investing in bitcoin is a bold move for the poor, but rather, it is a smart decision

It is definitely not a bold move because even the poor are wasting a lot of money on a daily basis. I see them smoking, drinking, buying junk snacks and other unhealthy things. They have discretionary income that could be used to buy Bitcoin, they are just using it on things that are bad for them. So I would agree with you that it is a smart decision rather than a bold move.

I surely to recommend a bit more of an activist approach at least in terms of studying our own 9 individual factors and perhaps learning aspects about bitcoin and self custody, yet those things don't have to be learned right away, but instead can be paced, and yeah, maybe looking at bitcoin 4-10 hours per month might be enough, and surely the more familiar we get with it, then maybe we will not need to continue to study it, even though frequently some good can come from trying to monitor your investment at various points along the way and even consider if any tweaks might need to be done in terms of your bitcoin investment and/or your cash flow management systems/practices.

Unfortunately my observation is that most adults are not learning almost anything at all in their lives. They are more often going to fall into some disinformation ideas rather than do actual rigorous learning. This is sad because Bitcoin is just an amazing opportunity for this. You get to pick what aspects you want to learn of it, what order you want it. It can be seen from an investment perspective, economical, social, technological and many others. Just the technology itself should prove very challenging to most nerds who are not going to be satisfied with a superficial illusion of understanding the technology. In the sense Bitcoin provides an unlimited learning opportunity, and even the academic world is yet to fully catch up. A lot of the work about Bitcoin if it exists at all is just looking at it through the same lenses and the same assumptions.

Experience helps and perhaps starting out slow can help a person to get used to it, so the person who knows that he is capable of investing $100 per week, he might purposefully decide to start out at $30 per week until he gets his comfort level to a better place.

Some people definitely need that, even if I would not recommend it as general advice. We must tailor it to each individual based on their experiences and personality. Expanding on what I said, I personally know a few examples of people who invested completely meaningless amounts of money and got spooked on the first strong dip. In this case it would have been much worse if they had invested significant amounts of money, but luckily they didn't. Still such people present rather difficult examples to turn into investors of any kind. I don't think age plays a role much either, some were older and some were even in their 20s.

I wouldn't think said 10 dollars would change his status even in the long run.. I would think it a different way - such person should do everything to put more into BTC weekly / monthly in order for it to bring results in 1-2-3 cycles.

Getting the right skills, networking, and a job that would allow you to spare much more funds for investing without risk of needing to turn your BTC back into fiat due to the needs that may arise.

What I see sometimes as a trend is that people are basically asking how they can become rich with the least amount of money put into Bitcoin or effort. These people are misguided and they should not be given much attention if they ignore the good advice that they get. One must hard to achieved anything substantial in life unless one is really really lucky, but that luck comes rarely. One should never rely on any luck.

[red4slash]

$10 will not change his status, but I agree with what Frankolala said. Investing $10 in Bitcoin is still far better than doing nothing or putting that money in a bank.

Bitcoin cannot guarantee that we will change our status or become rich because that depend on many factors such as capital, time, and each person's knowledge. But at least, investing in bitcoin will yield significantly greater returns than other assets with the same amount of capital. Therefore, invest in Bitcoin no matter how small your capital is.

The wrong mindset is actually when we expect wealth especially instantly from bitcoin even though it might happen when our capital is much bigger but indirectly we also have to be aware of our conditions and economy.

So in this case even though we cannot change our fate and become billionaires as expected (due to smaller capitalization) but when we are in bitcoin let alone make consistent and long-term investments that we want to aim for then it has become the right decision because everything we plant is certain that we will reap.
Even though there are risks and nothing is certain but with the confidence and development of bitcoin which until now still looks very good it would be a shame if we have the opportunity to invest (even if it is small) but we just let go.

[JayJuanGee]

For sure part of the reason that DCAing into bitcoin is so great is that there are ways to just pick a level of investment that is comfortable, whether it is $100 per week, $10 per week or some other amount, and even if they are feeling that they don't know what to do, it is likely that a couple cycles does the road they will be in a better position for having had gotten involved in bitcoin as compared if they had not.

Surely, DCA is one of the most comfortable strategies. It can be done by those who earn very little and it is also a more suitable strategy for investors with any other large income. If you accumulation $10 Bitcoin per week, the Bitcoin holding will be $520 per year and this amount is not very small for a poor investor. Thus, if that investor can do DCA regularly for 4 years, then this amount will be $2080 and if the price of Bitcoin increases by 50%-80% during this time, then that poor investor could never have imagined that he would actually be able to make so much profit in any other investment. Thus, if that investor continues to run DCA regularly for 4 more years, he will get a huge Bitcoin holding. Therefore he can continue accumulation Bitcoin as long as he has a source of income.

Another important thing is that the income of that poor investor as well as the amount of discretionary income will definitely increase and he will be able to increase the amount of Bitcoin DCA with his income. Now you decide how comfortable and easy it is for a poor investor to make his profit by using the DCA method of Bitcoin accumulation.

Only those who don't have a means of generating income would be worried about investing for long-term cause even though one is poor, so far the person has a steady income where he can generate his discretionary fund from, he can comfortably investment consistently and still have funds to meet up other needs.
 Except maybe he's someone who spend recklessly despite being poor, then he has to learn to manage his funds and cut cost and also avoid spending recklessly if he's serious and really wants to invest in Bitcoin without having obstacles that would affect them on the long run. Thanks to the DCA, poor people can comfortably invest without bothering about the price of Bitcoin but most of them are not aware which is why they feel that Bitcoin is for the rich.

It's easy for those who have discretionary income to invest in this digital gold. However, you should know that many poor people are saving their money and it is depreciating every year, so if they invest that money in this digital gold, I think they will not fall into the  economy crisis. You (@Son Of Blockchain) are right that the DCA investment process brings a golden opportunity for the poor because they can invest in this digital gold with any amount of money without worrying about the price of Bitcoin because they can start with a very small amount like $1-$10 dollars, anyway investing in this digital currency may be the best option, especially in places where the value of the local currency is declining, such as in Iran.

It comes off as misleading and potentially even deceptive to repeatedly refer to bitcoin as digital gold.

sure there are various aspects of bitcoin that were modeled after gold, yet bitcoin is different than gold, and sure maybe once in a while it is o.k to say it, but it is probably better to just use the word bitcoin unless you have some specific point about digital gold and/or digital currency that you are wanting to make.  Bitcoin does have a variety of attributes that include digital gold, digital currency  and even the existence of various derivative products that likely cause paper bitcoin and/or more claims upon bitcoin than the quantity of bitcoin.

I surely to recommend a bit more of an activist approach at least in terms of studying our own 9 individual factors and perhaps learning aspects about bitcoin and self custody, yet those things don't have to be learned right away, but instead can be paced, and yeah, maybe looking at bitcoin 4-10 hours per month might be enough, and surely the more familiar we get with it, then maybe we will not need to continue to study it, even though frequently some good can come from trying to monitor your investment at various points along the way and even consider if any tweaks might need to be done in terms of your bitcoin investment and/or your cash flow management systems/practices.

Unfortunately my observation is that most adults are not learning almost anything at all in their lives.

Even if there might be some truth in your observation, it is a bit patronizing.

They are more often going to fall into some disinformation ideas rather than do actual rigorous learning. This is sad because Bitcoin is just an amazing opportunity for this. You get to pick what aspects you want to learn of it, what order you want it. It can be seen from an investment perspective, economical, social, technological and many others.

There are likely also a lot of ways that people are challenged in their work, so by the time they have free time, they get a bit lazy and/or run out f energy.

Just the technology itself should prove very challenging to most nerds who are not going to be satisfied with a superficial illusion of understanding the technology. In the sense Bitcoin provides an unlimited learning opportunity, and even the academic world is yet to fully catch up. A lot of the work about Bitcoin if it exists at all is just looking at it through the same lenses and the same assumptions.

There is a lot of good information about bitcoin through writings and podcasts and even videos.  There is also mediocre work, so sometimes it can be difficult to distinguish the good work from the mediocre work, including for people to engage in critical thinking in regards to information that they read or watch.

Some people don't even like to read anything, so they just watch videos, which might end up leading them into shitcoins (or trading bitcoin) rather than investing into bitcoin.

Experience helps and perhaps starting out slow can help a person to get used to it, so the person who knows that he is capable of investing $100 per week, he might purposefully decide to start out at $30 per week until he gets his comfort level to a better place.

Some people definitely need that, even if I would not recommend it as general advice. We must tailor it to each individual based on their experiences and personality.

Yeah, but individuals have to tailor their learning to themselves and choose from whom they learn and/or how much further research that they might do after they come across ideas that might be controversial.

Expanding on what I said, I personally know a few examples of people who invested completely meaningless amounts of money and got spooked on the first strong dip. In this case it would have been much worse if they had invested significant amounts of money, but luckily they didn't. Still such people present rather difficult examples to turn into investors of any kind. I don't think age plays a role much either, some were older and some were even in their 20s.

Ultimately bitcoin continues to have low level retail adoption, even though there are more and more talking points from institutions and even guys like Saylor (even though in recent times, Saylor seems to have been losing some credibility even though he has a lot of decently good historical presentations).

Normies have to figure out bitcoin, and it might take more than one generation, even though guys who already know about bitcoin consider it to be growing fast, we still likely have less than 1% world wide adoption of the population, and even those who own some, might not own as much as they should own or could own..

[cocadalcan]

Those who don't have any means of income should look for a means of income with a discretionary income so that they can invest amd hodli for long because that's the best thing they can do to multiply their bitcoin hodling in future sinve the price of bitcoin increases overtime. Getting started is very important even without a stable income, you can buy once in a while, when the money is available.

You have provided good advice. If one does not have the means of earning one can source wisely. Having a stable income at the beginning of the investment is not important for Bitcoin investment. There are many poor people like me who are trying to learn about Bitcoin and trying to deposit small amounts and the source of income is still not fixed. The amount of weekly DCA can be of any size to start investing with. Investing in bitcoins with discretionary income will give you the courage and confidence to invest for the long term even if you don't have a stable income.

[Brizi5000]

Those who don't have any means of income should look for a means of income with a discretionary income so that they can invest amd hodli for long because that's the best thing they can do to multiply their bitcoin hodling in future sinve the price of bitcoin increases overtime. Getting started is very important even without a stable income, you can buy once in a while, when the money is available.

You have provided good advice. If one does not have the means of earning one can source wisely. Having a stable income at the beginning of the investment is not important for Bitcoin investment. There are many poor people like me who are trying to learn about Bitcoin and trying to deposit small amounts and the source of income is still not fixed. The amount of weekly DCA can be of any size to start investing with. Investing in bitcoins with discretionary income will give you the courage and confidence to invest for the long term even if you don't have a stable income.

most people fails to understand that is not all about having a stable income that really matters but what matters is your ability to be able to bring out a discretionary income from that your earning to use for your bitcoin investment. some persons have a very stable income but they cant still be able to get a discretionary income from it due to one reason or the other, some dont know how to manage their funds properly so that they wont spend lavishly on things that doesnt matter, some even before the income comes to them they have already borrowed money and are in serious debt, as the money is coming steady, thats also how they are spending it steadily. but there are those with not so stable income, but from time to time they usually earn some money either after completing some contracts or they win some lottery, and they will be able to apply good financial management skill and will still be able to get a discretionary income from it and invest in bitcoin and continue that way and gradually meet their accumulation target as long term investors. and that is why dca is there so they can be buying either weekly or monthly depending on how their income gets to them.

[Lida93]

Only those who don't have a means of generating income would be worried about investing for long-term cause even though one is poor, so far the person has a steady income where he can generate his discretionary fund from, he can comfortably investment consistently and still have funds to meet up other needs.
 Except maybe he's someone who spend recklessly despite being poor, then he has to learn to manage his funds and cut cost and also avoid spending recklessly if he's serious and really wants to invest in Bitcoin without having obstacles that would affect them on the long run. Thanks to the DCA, poor people can comfortably invest without bothering about the price of Bitcoin but most of them are not aware which is why they feel that Bitcoin is for the rich.

In as much as you're living on a weekly or monthly income depending on how the case may be for you, there would always be some discretionary income left for investing in bitcoin if the individual is really ready and have the determination to invest. Excuse van be tolerated for those without any means of income because it's going to be difficult for them to stay consistent with buying to accumulate their bitcoin investment starsh for the long term. Convenient enough is the DCA strategy which gives each Investor the opportunity to accumulate at his own pace but consistently upon a steady income earning. Investing in bitcoin isn't mainly about your estate but a thing of mindset, because there are people who are rich but scared to invest in bitcoin while a person said to be poor is steadily having his discretionary income directed into bitcoin investment routinely.

[Rockson1]

Only those who don't have a means of generating income would be worried about investing for long-term cause even though one is poor, so far the person has a steady income where he can generate his discretionary fund from, he can comfortably investment consistently and still have funds to meet up other needs.
 Except maybe he's someone who spend recklessly despite being poor, then he has to learn to manage his funds and cut cost and also avoid spending recklessly if he's serious and really wants to invest in Bitcoin without having obstacles that would affect them on the long run. Thanks to the DCA, poor people can comfortably invest without bothering about the price of Bitcoin but most of them are not aware which is why they feel that Bitcoin is for the rich.

But I think everybody can actually generate income unless for the handicapped and even some of them do generate income, I think people should stop giving some excuses and start doing what they can to get a steady income no matter how small it is, if we should cross check very well, it is easy to say that investing in Bitcoin for a long-term is easy since their is no persuasion, all we need to invest is just our discretionary income.

I do not think there's any poor man that wants to remain poor, as humans we hope for the best everyday, so it means the poor can actually become average tomorrow, middle class next tomorrow, very rich upper next, if all these can happen, I do not think that the poor or anyone has any excuse to give why they can not invest in Bitcoin, what everyone need is to start first, then hustle for more legit way of making money to enable them increase their discretionary income, investor that got a dream to actualize, do not get workout about bitcoin, his major focus will be targeted on fulfilling his dreams.

[Finebone]

Those who don't have any means of income should look for a means of income with a discretionary income so that they can invest amd hodli for long because that's the best thing they can do to multiply their bitcoin hodling in future sinve the price of bitcoin increases overtime. Getting started is very important even without a stable income, you can buy once in a while, when the money is available.

You have provided good advice. If one does not have the means of earning one can source wisely. Having a stable income at the beginning of the investment is not important for Bitcoin investment. There are many poor people like me who are trying to learn about Bitcoin and trying to deposit small amounts and the source of income is still not fixed. The amount of weekly DCA can be of any size to start investing with. Investing in bitcoins with discretionary income will give you the courage and confidence to invest for the long term even if you don't have a stable income.

When it comes to investing in Bitcoin, I think that the key thing we should be looking out for is how to figure out our discretionary income, because it's only through our discretionary income we invest with. So it doesn't matter if your income is stable or not, as long as you have a source of income where you can figure out your source of discretionary income, you are good to go, not by wasting valuable time and be waiting for your income to be stable, which is actually not the criteria to invest in bitcoin and be successful.

[PhilosopherKing]

You have provided good advice. If one does not have the means of earning one can source wisely. Having a stable income at the beginning of the investment is not important for Bitcoin investment. There are many poor people like me who are trying to learn about Bitcoin and trying to deposit small amounts and the source of income is still not fixed. The amount of weekly DCA can be of any size to start investing with. Investing in bitcoins with discretionary income will give you the courage and confidence to invest for the long term even if you don't have a stable income.

In as mvch as stable income is not needed to start investing,  you can always  accommodate the act of creating other sources of income as.much as you can. Tell yourself the truth, if you rely on just a source of income that is not fixed for long, you may lack the consistency to carry on in bitcoin investment.

Utilize your time and part of your money to venture into learning a skill, doing a business, anything that is legit than can put money into your hand. You can always allocate part of the money that is made from diversifying back to bitcoin, it is all about using your common sense though.