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Author Topic: Three best ways to hold bitcoin combined.  (Read 3579 times)
Charcol
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Today at 02:29:39 PM
 #361

When talking about ways of holding Bitcoin combined, I think we should first of all think about the comfortable living of one's life on their daily means of survival.
Because without money or fiat currency, one can never buy Bitcoin excessively not to talk about holding for a long period of time. Bitcoin miners have a lot of expenses to cover through their means of power supply through mining. If an investor have the opportunity to buy Bitcoin in bulk when the prices drops and also have extra income to manage the daily life expenditures, then one can keep holding as long as he wants. Another way is that people with enough money can buy Bitcoin regardless of the price and keep holding them for a higher price or in a percentage that is highly profitable or using the DCA method where an investor can keep buying Bitcoin in portion with their capital in every investment.one must have regular electric supply either electrical or solar source but all in high price so one can be able to cover these expenditures before thinking of holding Bitcoin for a period of long time.
Some people have sources of income which keeps them in standard supply of every of their needs and they can apply every strategies in either buying and selling or holding without fear in the future of Bitcoin or cryptocurrency.
Funny so you think that you have to be very comfortable before you can invest in Bitcoin, so we have to also have all takes to be very ok before we can talk about Bitcoin investment and if I may ask how comfortable do you think that we can be to be able to invest in Bitcoin, with this mentality of yours are you sure that you are ready to invest, hope you have heard about discreationary income as what is required for us to start investing in Bitcoin, to buy aggressively or excessively, you need to have started first athough buying aggressively is good because it helps to hasten up your Bitcoin acumulation but the major thing is to start first and you must not have it all before you start, there is discreationary income in every source of income you have, so you just need know how to figure it out, you are sounding as if an investor is expected to attain some level of financial stability before doing the needful, if that is what your mindset is telling you, i think you are very wrong and you have to rethink.
It is not true that every source of income will have discretionary income. Even if someone has a source of income, there may be nothing left after necessary expenses, loans, family, medical and emergency expenses. Remember that having income and having discretionary income are not the same thing. Even if someone's weekly income is $100, if his entire income goes to rent, food, transportation, loans, family or emergency expenses, then he does not have discretionary income to buy Bitcoin. Again, even if someone's income is irregular, if after necessary expenses and a small reserve, $10 or $20 is left, then that is his discretionary income or he can start saving with that.

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Today at 02:39:35 PM
Last edit: Today at 02:50:09 PM by Promocodeudo
 #362

It is not true that every source of income will have discretionary income. Even if someone has a source of income, there may be nothing left after necessary expenses, loans, family, medical and emergency expenses. Remember that having income and having discretionary income are not the same thing. Even if someone's weekly income is $100, if his entire income goes to rent, food, transportation, loans, family or emergency expenses, then he does not have discretionary income to buy Bitcoin. Again, even if someone's income is irregular, if after necessary expenses and a small reserve, $10 or $20 is left, then that is his discretionary income or he can start saving with that.
it means you don't know what you're saying, what is then the financial management we are talking about, mate in every source of income one should be able to figure out his discreationary income, I don't want to go into details of all you listed here, what you are indirectly saying is that someone must have a certain level of income flow for him to have a discreationary income which is very wrong and deceitful, just learn this today, as long as there's a source of income, discreationary income can be figured from it, for your information, what you just did is to create excuses for those with little income to find a reason why they shouldn't start investing in the first place.

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Today at 02:53:50 PM
 #363

Buying when prices are falling means that we are delaying investments that can actually be made right away from all the things that are actually ready. The price drop could happen but we don't know when it will happen or maybe it won't happen, as sir @jjg said below in the bolded sentence.
Guys might have lump sum amounts that could be available to invest into bitcoin (or into whatever other investment), yet they have to think about it and to ultimately authorize that value to be moved into bitcoin, and even if a person might have some lump sum amount that he later authorizes to invest into bitcoin, he might purposefully choose to consider each of the three categories of 1) buy right away 2) defer by time (aka DCA) and/or 3) defer by price (buy on dips that might not happen).

You misquoted me.  Generally, I have no problem with buying while BTC prices are falling.  From my perspective, it is problematic when newbies or no coiners wait for the BTC price to fall rather than regularly buying bitcoin, and sure, if BTC prices are falling guys can continue to buy bitcoin as the price is falling, even though one of the problems of buying while prices are falling is running out of money to buy more...

I tend to recommend not to increase aggressiveness based on BTC prices falling.  I also tend to suggest that beginners or guys in their early bitcoin accumulation stages focus on managing their funds and figuring out their budgets so that they know how much bitcoin that they are going to be able to buy every week based on how much discretionary funds that they tend to have available and how much priority they will give to bitcoin versus savings versus discretionary consumption, and so the decisions to buy and how much to buy would be structured more around cashflow concerns and availability of discretionary funds and priorities rather than concerns about whether the BTC price might be going up, down or sideways, especially for beginners.

Guys have to figure out for themselves if they believe that there is any value in trying to strategize around the BTC price rather than strategizing around ongoing, persistent, consistent, regular and perhaps even aggressive buying, and I tend to consider relatively aggressive buying to be made when guys are pretty much buying bitcoin whenever they determine that they have money available to buy rather than guys fucking around trying to strategize, which I would consider to be more whimpy buying, even though guys can do what they want, and surely I understand that guys can get pleasures from being able to buy more bitcoin with the same amount of money because they ended up catching a dip or two.. so I am not completely discouraging the ideas of buying on the dip so long as guys are regularly buying, too... since it tends to take a long time to build up bitcoin holdings, even if some guys might be able to front load** their bitcoin investment or to lump sum** into bitcoin from time to time, it still tends to take a long time to build up a decent sized bitcoin holdings that will likely end up giving more options when guys hold more bitcoin rather than fewer bitcoin.

**By the way, lump sum and front loading are not buying the dip techiques, even though a decent number of guys tend to think about those two techniques as if they were the same as buying the dip.

The most important thing at early stage is to always understand your finance and knowing how much discretionary income you can be able to allocate to bitcoin investment on regular basis, because I believe that the newbie’s should always build the habit of consistently accumulation of bitcoin instead of trying to react to every price movement.

Because a disciplined strategy based on cash flow and also budgeting is usually more sustainable in the long term, but trying to become more aggressive just because the price has fallen can sometimes lead many people to invest more they may need for other priorities. but having a good accumulation plan that you can maintain through bull markets and sideways market is far more better than constantly changing your buying strategy base short term price action.

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