The importance of Not spending

[summonerrk]

For someone to succeed from their Bitcoin investment, they need to have another source of income they can be earning from, not from Bitcoin because the market is volatile, it can keep someone on the losing side for long, and life issues get to hit them, forcing them to sell their Bitcoin at a loss or small profits when they are not ready. Nothing pains as much as that, when your long-term hodl is cut short when you aspire to hodl for the long term for better profits.

I absolutely agree with you - it's a very sad phenomenon when a trader or investor is forced to sell cryptocurrency because they don't have the money, not because Bitcoin's price has reached their intended target. At such times, the price can be unprofitable for such a trade, and that's bad.

That's why poor investors don't survive the crypto winter, while the rich do nothing, waiting for their targets to be met. And of course, they wait for this to happen and take profit.

[Umulala-alala]

We should invest in bitcoin when we have a good source of income, if you invest without a good source of income you will sell when you are not suppose to sell, before you think of investing in BTC there are things you will need to sort out before you can start buying bitcoin, again for you to make a weekly or monthly purchase you need to have your the money will come from then after making sure you settled every thing you will need at the period then the one left can be use to buy bitcoin, as you are buying you are also making space for your emergency fund since emergency is what that can visit unexpected so we can still continue with our regular DCA purchases without selling bitcoin to sort out problems.

[summonerrk]

We should invest in bitcoin when we have a good source of income, if you invest without a good source of income you will sell when you are not suppose to sell, before you think of investing in BTC there are things you will need to sort out before you can start buying bitcoin, again for you to make a weekly or monthly purchase you need to have your the money will come from then after making sure you settled every thing you will need at the period then the one left can be use to buy bitcoin, as you are buying you are also making space for your emergency fund since emergency is what that can visit unexpected so we can still continue with our regular DCA purchases without selling bitcoin to sort out problems.

Selling your assets at a low price is the saddest thing that can happen to an investor. They're forced to do this because they can't afford rent or food, so their fellow traders or investors will wait for prices to rise, but they won't. This proves the rule that explains why the poor get poorer and the rich get richer.
The poor are forced to always stay afloat, not feel free to invest, waiting for the growth they originally hoped for.

[viljy]

~
It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

It's easy to say, but much harder to do. There is a wave of job layoffs all over the world right now. So why should a conditional bitcoin investor, who has been kicked out of his job, go without food until he finds another job (if he can find a new job at all)? Such "spherical in a vacuum" tips are worthless in real life.

I remember a case where a young man (let's say, a security guard) was surprised that the family had no one to leave a small child with. Said: "There are grandmothers and grandfathers." Where is there? At the cemetery, yes. Everyone died a long time ago. That is, a person who has never been in the same situation is completely unable to understand another person.

That is why healthy people do not understand the sick, the well-fed do not understand the hungry, the rich do not understand the poor. That's why there are tips in the style of "Don't they have bread? Let them eat cakes."..

[rodskee]

~
It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

It's easy to say, but much harder to do. There is a wave of job layoffs all over the world right now. So why should a conditional bitcoin investor, who has been kicked out of his job, go without food until he finds another job (if he can find a new job at all)? Such "spherical in a vacuum" tips are worthless in real life.

this is an example of unfortunate circumstances wherein you really have no choice but to spend your bitcoin because if you don’t you won’t be able to survive

for me, the most important thing would be to try and accumulate more bitcoins again when you can afford to do so and you are stable enough

[dimonstration]

~
It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

It's easy to say, but much harder to do. There is a wave of job layoffs all over the world right now. So why should a conditional bitcoin investor, who has been kicked out of his job, go without food until he finds another job (if he can find a new job at all)? Such "spherical in a vacuum" tips are worthless in real life.

this is an example of unfortunate circumstances wherein you really have no choice but to spend your bitcoin because if you don’t you won’t be able to survive

for me, the most important thing would be to try and accumulate more bitcoins again when you can afford to do so and you are stable enough

As a resident of 3rd world country, there’s always a time in my life that touching my Bitcoin investment is inevitable due to emergency cases which my funds on my bank is not sufficient to pay it alone.

There’s a time that I needed to sold my Bitcoin somewhere around 2017 when my grandmother got a cancer and need a major operation that requires huge money.

I manage to accumulate it back slowly until pandemic hits that gives me an opportunity to claim back all the Bitcoin holdings that I sold during 2017. We shouldn’t hesitate to sold if we truly needed it because that’s the real purpose on why we are investing on Bitcoin.

[DiMarxist]

As a resident of 3rd world country, there’s always a time in my life that touching my Bitcoin investment is inevitable due to emergency cases which my funds on my bank is not sufficient to pay it alone.

There’s a time that I needed to sold my Bitcoin somewhere around 2017 when my grandmother got a cancer and need a major operation that requires huge money.

I manage to accumulate it back slowly until pandemic hits that gives me an opportunity to claim back all the Bitcoin holdings that I sold during 2017. We shouldn’t hesitate to sold if we truly needed it because that’s the real purpose on why we are investing on Bitcoin.

Your story actually show a true purpose of investing to provide support when life becomes difficult. Many people see Bitcoin only as a way to get rich, but you have just reminded us that it can also be a lifeline during emergencies. Selling your Bitcoin to help your grandmother was the right decision because health and family come first. And what is even more inspiring is that you didn’t give up after that, instead you worked your way back and rebuilt your investment, which is actually a good thin.

[Fiasem20]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

I wouldn't advise anyone to sell he's holding in loss, expect the person doesn't have an investment goal.I believe most of us have heard of an emergency fund,before starting an investment it's crucial to build an emergency fund in case an emergency case turns up in the face of your accumulating journey.Emergency fund creates financial stability alongside with your investment goal, don't be bothered by the up and down of the market or are you a trader?If you're an investor the price decline of Bitcoin shouldn't get you bothered because your goal is fixed for the long term.

[Cyber_warrior]

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

If you are holding some bitcoin, then try to be making payment with bitcoin also, we should know that bitcoin isn’t for holding alone, we are suppose to be making transactions with bitcoin if we want bitcoin to serve its purpose. The main reason why bitcoin was created was just to serve as alternative currency, so if everyone is just holding, and no one is making transaction with bitcoin, then that means bitcoin isn’t serving its purpose.

[Furious 7]

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

If you are holding some bitcoin, then try to be making payment with bitcoin also, we should know that bitcoin isn’t for holding alone, we are suppose to be making transactions with bitcoin if we want bitcoin to serve its purpose. The main reason why bitcoin was created was just to serve as alternative currency, so if everyone is just holding, and no one is making transaction with bitcoin, then that means bitcoin isn’t serving its purpose.

While it may sound like a classic excuse we can't directly transact through bitcoin now despite bitcoin's original purpose but when we are hindered by regulation we can't do anything about it.

As is the case in my country today which still makes bitcoin a commodity asset not as a medium of exchange so transacting through bitcoin will clearly not be easy.
Indeed, this can be forced when we are in an environment with the same understanding where we can just transact or buy something with bitcoin but of course this must be two-way where we as buyers and others as sellers or vice versa.
When we want to do this but no one accepts bitcoin as payment just because they are too afraid of regulation it still cannot be done.

[Sammye3]

Most people rush into Bitcoin investment without a proper plan, maybe just because they heard from someone about Bitcoin's potentials in the future or how much people are making from it but they don't have the trust and patience to hold on after a decline. These kind of people are often seen to lose lots of opportunities because of lack of information and eagerness to learn before investing.

It's not always about what people say or what people are doing. This is something most people don't understand because what works for one might not work for all so building knowledge on something before actually putting your money into it would give you a grounded trust and with this, even during a decline there is hope for a reversal based on your calculations.

Maybe it might not always be right, but knowledge goes a long way in investment and not just the hype. Even when there is need for money, there would always be a way to solve the problem without taking out your investments.

[Hazink]

this is an example of unfortunate circumstances wherein you really have no choice but to spend your bitcoin because if you don’t you won’t be able to survive

for me, the most important thing would be to try and accumulate more bitcoins again when you can afford to do so and you are stable enough

Those are indeed rare times when someone really doesn't need to be thinking about not selling. Rather, they consider those bitcoins to be their lifesavers, just like saving money in the bank to be used on needy days and not just for them to sit there for nothing. Someone who is alive and healthy will always have an opportunity to restock their investments if they sell them off due to urgent pressing life needs.

[Koadharber]

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

If you are holding some bitcoin, then try to be making payment with bitcoin also, we should know that bitcoin isn’t for holding alone, we are suppose to be making transactions with bitcoin if we want bitcoin to serve its purpose. The main reason why bitcoin was created was just to serve as alternative currency, so if everyone is just holding, and no one is making transaction with bitcoin, then that means bitcoin isn’t serving its purpose.

While it may sound like a classic excuse we can't directly transact through bitcoin now despite bitcoin's original purpose but when we are hindered by regulation we can't do anything about it.

As is the case in my country today which still makes bitcoin a commodity asset not as a medium of exchange so transacting through bitcoin will clearly not be easy.
Indeed, this can be forced when we are in an environment with the same understanding where we can just transact or buy something with bitcoin but of course this must be two-way where we as buyers and others as sellers or vice versa.
When we want to do this but no one accepts bitcoin as payment just because they are too afraid of regulation it still cannot be done.

It really shows the difference between bitcoin’s purpose and its reality right now bitcoin was built to be a peer to peer electronic cash system but over time people started treating it more like a store of value than a currency which is why most prefer holding instead of spending it when the price keeps rising people naturally hesitate to use it for everyday payments because no one wants to spend something today that could be worth double tomorrow. And like you mentioned even if someone wants to use bitcoin as payment the local laws or market conditions often make it hard in many countries bitcoin isn’t recognized as legal tender so businesses are hesitant to accept it directly even when they understand crypto well it becomes more about compliance and risk than willingness.

Still that doesn’t mean bitcoin’s role as a currency is dead in some regions people still use it quietly in peer to peer markets and for cross border transactions because it’s cheaper and faster than banks maybe someday when regulation becomes friendlier or stablecoins and payment layers evolve we’ll see bitcoin serving both purposes again as a long term investment and as a working currency until then holding remains the main use case for most people but spending where possible keeps the spirit of bitcoin alive.

[Jostern]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

I think for people who wants to be successful in life, it’s important not to touch your Bitcoin portfolio or probably your profit until you have been able to have a reasonable amount of profit after holding for up to 10-12 years, to have a successful return in our investment we have to hold for a long term, I have been trying to hold Bitcoin for a long time now I have been trying to hold me Bitcoin portfolio and stacking bitcoin more and more instead of trading my profit.

Perhaps we can try to buy bitcoin and save money for the purpose of buying bitcoin, and buying and accumulating bitcoin for a very long term.

[ChocolateBitcoinK]

Financial discipline is important in Bitcoin investment because if money is not allocated for emergencies in investment, then one may be forced to sell the investment in a bad situation. Where someone loses money by selling long-term investment for short-term problems. Therefore, in investment, a person must plan his financial affairs in such a way that his basic expenses are fully met and there is a fund for emergency needs. Bitcoin investment must have a long-term perspective, in this case, financial planning must also be taken in such a way that it is possible to continue investing in the long term.

[AGogi2003]

That's why it's important to set aside emergency funds when investing in Bitcoin... by having an emergency fund won't force you to sell your assets during a market downturn just because you need cash. You can handle unexpected expenses and avoid having to worry about finding the money to cover them. This way, your investments won't be affected, and you won't be tempted to sell just for that need.

That is the best thing to do as and investors, when you are investing in bitcoin you need to separate your investment money aside and emergency funds aside that can save your investment and leave it for long term, because if you don't separate them and you invest all the money in bitcoin you will be in danger because bitcoin is always volatile and the price can change and probably reduce in price. and when you need help and you didn't have any other option to do you will start thinking about your investment and when the price is down, and you sell it when the price is low you have lose your capital and that can make you feel discourage to invest another time.

Bitcoin is not a rush investment is gradually process and if you don't have enough money to invest you can try other business or investment that can minimise your risk then bitcoin, because if you don't have enough money to invest and you put your spending money you will make your self broke because bitcoin can't be predicted and to enjoy your investment in Bitcoin you most surly invest it for the long term to be profitable well.

[Agbamoni]

Bitcoin is not a rush investment is gradually process and if you don't have enough money to invest you can try other business or investment that can minimise your risk then bitcoin, because if you don't have enough money to invest and you put your spending money you will make your self broke because bitcoin can't be predicted and to enjoy your investment in Bitcoin you most surly invest it for the long term to be profitable well.

It is a gradual process to investors who don't have enough capital to aggressively buy it. Big investors don't joke with every opportunity they have to go big in Bitcoin. At all times, they have more than enough discretionary income waiting to bag more. Just like the society we different classes of individuals in terms of finance so it is in Bitcoin investor. And we all have the right to go fast or slow according to our financial level when investing in Bitcoin.

[ruykeri]

In fact, those who invest in Bitcoin should first hold Bitcoin for the right purpose. Now if someone keeps holding Bitcoin to meet urgent needs or as normal savings, it will never bring anything good. Bitcoin is about ensuring your future financial security by investing for a long time. Now if someone follows any concept and sells some Bitcoin from there while holding Bitcoin, it will become an obstacle in terms of long-term investment. That is why fund management is very important for investing in the right investment way and for long-term investment. Therefore, patience and self-control are very important.

[lizarder]

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

This can be achieved by investors who try to invest after preparing for all other needs so that their investment won't be affected by the concept of selling in a relatively short time. Everyone can invest based on their capital, but many people find it difficult to stick to the concept of long-term investment due to various issues they face. I make adjustments to my investments and don't use all my money for investments. So, when the price hasn't reached my desired price, I never sell my Bitcoin.

Simply allocate a certain percentage of your money, such as savings, daily needs, and a reserve fund, so your investments won't be affected and you'll be better prepared to hold Bitcoin long-term. If you can't manage your finances, your investments won't perform well, as might have to sell Bitcoin due to urgent needs to use the money for other purposes.

[henry_of_skalitz]

In fact, those who invest in Bitcoin should first hold Bitcoin for the right purpose. Now if someone keeps holding Bitcoin to meet urgent needs or as normal savings, it will never bring anything good. Bitcoin is about ensuring your future financial security by investing for a long time. Now if someone follows any concept and sells some Bitcoin from there while holding Bitcoin, it will become an obstacle in terms of long-term investment. That is why fund management is very important for investing in the right investment way and for long-term investment. Therefore, patience and self-control are very important.

To do it properly, a person should understand that BTC is no magic wand - it's a tool like any other to make things right and to become your own bank for yourself.