Balancing Financial security and Bitcoin Accumulation

[cxtreenal]

As a Bitcoin investor, we first needs to kill this mindset or mentality of holding and selling at the end of it circle, that's myopic to me, because you can't build a generational wealth overtime by accumulating and finally selling off your Bitcoin holdings at the end of the circle, that's not the best way to go about your bitcoin investment.

The only best time your should contemplate taking some profit from your Bitcoin investment is when you have gotten to that over accumulation status, not by selling off your holdings every four year and become a no coiner overnight, that's myopic and irresponsibility to me.
If those that bought Bitcoin when it was just $100 sold their Bitcoin at the end of the circle, will they not feel regret when Bitcoin go above $100k?
They would, so just hold strong because a point is coming when Bitcoin will go above a million dollars or more.

This is where you get it wrong. Selling at the end of each circle, probably each circle is 4 years right. It is not the best thing to sell at each circle but it is not a stupid plan to sell some of your bitcoin, depending on how that circle turned out to be. The challenging moment is if the investor sell all his bitcoin, that will be an unwise decision. Provided he sells only a part of his bitcoin and also don't stop accumulating, he is going to achieve his aim of investing. I hope you understand what I mean. Selling part, below 30% is not an issue, the issue is in selling all. Most investors withdrawal method is taking a fraction at the end of each circle.

I am not in favour of withdrawing a small fraction at the end of a cycle but at that point if you think that you have achieved multiple times the profit you may be able to withdraw a portion of the profit to increase the physical asset. The plan for withdrawing Bitcoin depends on your financial situation. If you are gradually increasing the amount of Bitcoin accumulation with discretionary income growth every year and the earning momentum is intact saving Bitcoin for multiple cycles will be the right decision. I would say keep your capital intact in the portfolio and if the profit amount is multiple times at the end of two cycles it would be a good idea to withdraw a fixed percentage of the profit from your portfolio. It would also be wise if you can keep the DCA running as long as your discretionary income continues to flow.

[Uhwuchukwu53]

I agree with your sentiment bro, starting your Bitcoin accumulation as fast as possible is the best way to go, because by wasting more time, procrastination may set in, which is not actually good for your Bitcoin accumulation earlier on.
So it's because of that I believe that once you are able to figure out your discretionary income, you can start right away with the basic knowledge you have on it, then along the line you can seek further knowledge on what and what is required to hold strong, like putting down emergency or reserves funds in place to aid your holding abilities, but waiting and trying to know it all or to have a deeper knowledge on it before starting is wrong in my own opinion.

That is when everything needed to start the bitcoin journey is ready. When you re in a haste things will go wrong, which will affect the investment later in the future. Instead of making mistakes now, it is better to take things gradually but don't delay. Slow and steady wins the race. An investor is supposed to be consistent regardless of how patient he is, what truly matters in long term investment is consistency not how fast you start your investment. Those that rushed into investment most of them are regretting now, I know you don't want to be one of them.

Your point is clear, l totally agree with you mostly the key word consistency bitcoin investment is far beyond what some person speculate if you haven't gotten deep understanding how Bitcoin works, you may think that it's very easy that is while most time I see some beginner who Begin to eye people who have past through different trial and hard time and remain that consistent, unmovable and refused to withdraw and keep pushing in holding and accumulating they think is just a work over process. Patient and good planning strategy and this constantly pushing is the key if you want to emulate or be like someone you must adopt all measure including your own personal strategy to survive Bitcoin investment need patient.

[DubemIfedigbo001]

What exactly is the everything needed to start the bitcoin journey? If you know about bitcoin you most definitely already know that it's a volatile asset, it's common knowledge to start an investment you are not experienced with small, you can't find that many people who jump into something new with a lot of money, bitcoin investment should be slow and steady but it should not be delayed under the pretence of still trying to gather knowledge, this is exactly how procrastination comes in and then the person never starts investing in bitcoin at all.

Bitcoin price is volatile. Almost everyone who is first involved in investing needs to know this. A small number of them may not be very aware of this issue but if necessary, some time can be spent. That time can be with an experienced investor or online. It will not take more than a day to learn about Bitcoin initially.

To start your Bitcoin journey you must initially have an idea about investing and the necessary knowledge to protect this digital asset. Stay on mental preparation also discretionary income or discretionary funds and long term Bitcoin accumulation. Being mentally stable in investing is an important thing and you should be regular without considering the direction of price fluctuations at each buying time because you should get a Bitcoin congruous portfolio compared to getting profit.

This is the same reason why I keep asking how a person is supposed to know that they are mentally prepared, the only sure way to know that you are ready to do a particular thing is probably to actually do that thing, the more you tell yourself that you are not mentally prepared the more you procrastinate and the more time you end up wasting, this is why starting is important, when you start, you know where you are lacking and you improve on those attributes but this is only possible if you actually start.
This is just how bitcoin investment is as well, everyone who is earning money one way or the other already knows that they can spend this particular amount of money and it wouldn't affect them negatively, they also know when they can afford the unnecessary expenditure, if you know this then you already know what to invest in bitcoin with.

For most new investors starting is very challenging and important because they have the funds to buy Bitcoin but due to some mental preparation or laziness they may miss out on a huge buying opportunity. Investing in Bitcoin is like a great investment opportunity that can increase in value within a day. It is important to start accumulation Bitcoin as well as have the financial and mental capacity to carry it or do it for the long term because without discipline it is not easy to achieve success.

Starting out with anything of value always has its own challenges, it is the willingness of the investor and his desire to achieve success that would motivate him and keep him going. This is why we need to come into bitcoin with the right mindset of dedication and consistency in order to focus on our target and continue striving until we achieve it.

Even though there are challenges in the beginning, it doesn't change the fact that it is the right thing to get started instead of being stagnant and long as we've discretionary income, delaying or avoiding to get started because of perceived challenges brings no success, so it is better you kick off your investment journey and slowly navigate the processes, using DCA would surely help the investor remain consistent with minimal pressure.

Most challenges comes with starting out wrongly, like being over aggressive from the start or not building out backup funds alongside your accumulating bitcoin or even some other mistakes the investor might make in the process of getting accustomed with the process. It is important to know that these mistakes are part of the learning curve as no one comes into bitcoin figuring everything out, the more you advance in your accumulation journey, the more you learn how to manage your cashflow better and the more an experienced investor you become.

[Biirakedee]

For me I think this is just about balance, before anything make sure your basic life is stable, you can sort your bills , have some savings and also some you can fall back on. Bitcoin is a long term asset so it should replace your financial safety. As we all know it that bitcoin goes up and down so you don’t want to depend on it for survival. What I think is very important to do is to first invest only what you can afford to lose while still low key growing your savings and handling some other responsibilities. Doing this , you are not under any pressure, whatever happens happens, fall or rise in bitcoin. So therefore it’s not about choosing one over another, first take care of your present then use bitcoin as something for the long run. (Ahead-ahead)

[Showlove01]

As a Bitcoin investor, we first needs to kill this mindset or mentality of holding and selling at the end of it circle, that's myopic to me, because you can't build a generational wealth overtime by accumulating and finally selling off your Bitcoin holdings at the end of the circle, that's not the best way to go about your bitcoin investment.

The only best time your should contemplate taking some profit from your Bitcoin investment is when you have gotten to that over accumulation status, not by selling off your holdings every four year and become a no coiner overnight, that's myopic and irresponsibility to me.
If those that bought Bitcoin when it was just $100 sold their Bitcoin at the end of the circle, will they not feel regret when Bitcoin go above $100k?
They would, so just hold strong because a point is coming when Bitcoin will go above a million dollars or more.

This is where you get it wrong. Selling at the end of each circle, probably each circle is 4 years right. It is not the best thing to sell at each circle but it is not a stupid plan to sell some of your bitcoin, depending on how that circle turned out to be. The challenging moment is if the investor sell all his bitcoin, that will be an unwise decision. Provided he sells only a part of his bitcoin and also don't stop accumulating, he is going to achieve his aim of investing. I hope you understand what I mean. Selling part, below 30% is not an issue, the issue is in selling all. Most investors withdrawal method is taking a fraction at the end of each circle.

I am not in favour of withdrawing a small fraction at the end of a cycle but at that point if you think that you have achieved multiple times the profit you may be able to withdraw a portion of the profit to increase the physical asset. The plan for withdrawing Bitcoin depends on your financial situation. If you are gradually increasing the amount of Bitcoin accumulation with discretionary income growth every year and the earning momentum is intact saving Bitcoin for multiple cycles will be the right decision. I would say keep your capital intact in the portfolio and if the profit amount is multiple times at the end of two cycles it would be a good idea to withdraw a fixed percentage of the profit from your portfolio. It would also be wise if you can keep the DCA running as long as your discretionary income continues to flow.

I don't really buy this your idea of saying profit multiplication because that alone can distract newbie from the main thing which is to accumulate till overaccumulation stage because it is possible for our investment to give us a reasonable amount of profit even when we have not gone far in accumulation due to surge, withdrawing in other words selling due to this is actually trading because we have not gotten to overaccumulation stage and the moment someone tries this, they will start to follow that path.

[Mr_Brilliant$]

Investing in Bitcoin is like a great investment opportunity that can increase in value within a day.

This is how traders be thinking that is why they can't invest keep their investments until a cycle reaches. Bitcoin price does not just increases, it also decreases and that is because of volatility.

Daily price swings is a distraction from going on with long time plan. And iInvestor are not supposed to be concerned of daily price swinging instead they should focus on ongoingly accumulating bitcoin and adding more stash.

And this is why you see them online calling bitcoin a scam, they came in for a quick daily profit and it didn't work out for them and they started declaring bitcoin to be a scam, I've seen stuffs like this online more times than I can actually count and it gets exhausting the more I see it, common sense will tell a person that if there was something that actually existed that will yield incredible profits in just a single day then everyone would have been doing it, but once greed has taken over a person's mind they no longer see reason or listen to common sense.

Yeah for real, most of them are so annoying, they didn’t even come to understand Bitcoin, they just came chasing quick flips and when it did not go their way, boom… they start calling it scam..

Truth is, anything that actually builds wealth takes a lot of time, patience and also discipline. But once greed enters, logic will just disappear.. Can’t be blaming Bitcoin for a mindset problem to be honest..

[The Founding Titan]

Investing in Bitcoin is like a great investment opportunity that can increase in value within a day.

This is how traders be thinking that is why they can't invest keep their investments until a cycle reaches. Bitcoin price does not just increases, it also decreases and that is because of volatility.

Daily price swings is a distraction from going on with long time plan. And iInvestor are not supposed to be concerned of daily price swinging instead they should focus on ongoingly accumulating bitcoin and adding more stash.

And this is why you see them online calling bitcoin a scam, they came in for a quick daily profit and it didn't work out for them and they started declaring bitcoin to be a scam, I've seen stuffs like this online more times than I can actually count and it gets exhausting the more I see it, common sense will tell a person that if there was something that actually existed that will yield incredible profits in just a single day then everyone would have been doing it, but once greed has taken over a person's mind they no longer see reason or listen to common sense.

Yeah for real, most of them are so annoying, they didn’t even come to understand Bitcoin, they just came chasing quick flips and when it did not go their way, boom… they start calling it scam..

Truth is, anything that actually builds wealth takes a lot of time, patience and also discipline. But once greed enters, logic will just disappear.. Can’t be blaming Bitcoin for a mindset problem to be honest..

The sooner people come to realize that bitcoin is not a get rich quick scheme the better it will be for them, this is why people easily get scammed, if money was always that easy to make them no body would be poor right now but once someone flashes an opportunity to become rich overnight in their faces they get excited and when they get scammed they blame bitcoin simply because the scammer promised them a lot of profit in bitcoin, but bitcoin wasn't the reason why they got scammed, they got scammed because of their own greed.

[liasbaa]

The sooner people come to realize that bitcoin is not a get rich quick scheme the better it will be for them, this is why people easily get scammed, if money was always that easy to make them no body would be poor right now but once someone flashes an opportunity to become rich overnight in their faces they get excited and when they get scammed they blame bitcoin simply because the scammer promised them a lot of profit in bitcoin, but bitcoin wasn't the reason why they got scammed, they got scammed because of their own greed.

Surely. Investors who understand very early that Bitcoin is not a way to get rich quick will have a great opportunity. I think those who are deceived are the ones who are greedy or they are new in investment platform because they are in the trading mindset. Excessive emotions can blind you. Once you learn about Bitcoin and have a good feeling through price analysis and decide to buy bitcoin lump sum with the available funds you have but Bitcoin investment is not a matter of blind investment. It is fair to say that those who enticement you with high profits are fraudsters. You do not need to be very knowledgeable about Bitcoin. If you are new to investing accumulate Bitcoin for the long term through discretionary income without taking risks initially. As you gain experience, learn about Bitcoin and take risks within your financial limits.