Investment Become Gambling

[ZeroVinsonN]

Those are the people who are chasing after quick profit and not true investors because someone who is truly investing in bitcoin will know to keep his investment within his means and not go over the top, quick profits won't work with bitcoin investment so if that's what you go for then regret is definitely going to be one of the things that will happen to you, loss too since you probably won't be able to hold and be pushed to sell at a loss.

I totally agree with you, chasing a quick profit in bitcoin will lead to loss your investment in the total. If you want to invest and don’t want to regret investing in bitcoin you have to make it true by investing for a long time because that when you will see your profits. True investors will not say that investment is gambling but it will still determine how you are trying to invest.

Investing long term is just one part of it, every bitcoin investor should make sure they are investing with their discretionary income because even though your plan if lon term and you are investing with more than you discretionary income you will be be able to keep investing for long enough so while making sure your target is long term you should make sure it all comes from your discretionary income and that you also have your backup funds in place as well, if you don't have them set up already then you can do so from your discretionary income as well along side your bitcoin accumulation.

[B-BossMan]

With the dca strategy bitcoin investment can be carried on gradually with as low as $10 as your discretionary income, though any one who is not aware will also believe that investing in bitcoin will require having enough money as i have once think like that when i wasn't informed so at time i don't blame them as what ever you don't know is bigger than you. People some time start from small and grow bigger with time. What really matter most is how consistent you have been accumulating bitcoin and now long you were also able to hodl on your bitcoin investment.

My dad use to tell me that ignorance causes setback, i completely believed when i ralised that one can invest gradually in Bitcoin and still reach their target with consistency using the DCA method. Many people are still holding back despite having discretionary funds cause they feel it's not enougb and Bitcoin is too costly, you won't blame them cause if they know they won't hesitate to buy.

 Information is very important, it separates the wise from the ignorant, not just any information but good information because someone with a wrong information is still ignorant, if I didn't figure out years ago that one can invest gradually if they don't have enough to buy up to a BTC maybe I would've still been among those gathering money to buy bulk instead of investing gradually.

Sometimes it can take guys a bit of time to save up even small amounts of money that they are able to invest, and depending on how they are sourcing their bitcoin, they might need to save in Naira (or dollars or other fiat) for a bit of time before they feel that they have enough saved up so that they can invest, whether that is the equivalent of $10 or some other amount that seems low, but for practicality purposes it might not make sense to buy bitcoin in lower amounts.. .and many guys talk about buying bitcoin through an exchange, and then keeping it on the exchange until it reaches several hundred dollars, and then moving the value off of the exchange.

For sure, there is value in self-custody, yet if guys are buying such low amounts, it might not make sense to be paying transaction fees to be moving coins around and even sometimes the onchain transaction fees can become high so then it might not be making sense to transact on chain with bitcoin... so people who are buying real low amounts of bitcoin might have dilemmas regarding how much bitcoin they need to buy each time and then how much to allow the bitcoin to build up in the place that they are buying it before they transfer it to a private wallet.

Another dilemma is that if a person is building up a lot of value in naira, dollars or other fiat, and the value of the fiat is declining, so how fast the fiat declines in value could also affect decisions regarding how much value to hold in one form or another. No one really likes to have their value eroded away from them, which could be risk in any way that we are holding our value, yet with bitcoin, if we are considering that we are trying to hold our value in bitcoin for 4-10 years or longer, then we may well have some confidence that the value that we are putting in bitcoin is likely to go up in value over the timeline that we are holding it in bitcoin, even though of course, at the same time, we know that the value of our bitcoin to go up is not guaranteed to go up, even though we theorize that holding 4-10 years or longer has good chances of increasing in value better than other places that we might choose to hold that value.

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

[Proty]

Imo, even with small discretionary income, person can still invest ongoingly by starting from somewhere and along the way they can figure out way to increase their discretionary income so they can increase their investments money. Even if a time comes when person don't have discretionary income, then the person can still  invest whenever they have discretionary income, that is how flexible investment works.

I think it is absolutely reasonable to invest even $5 in a couple of weeks, because this will develop a habit in the investor. The main thing is that he understands exactly why he is doing this and sees prospects in the future for his remote income to increase, and then such a positive faith will not let him give up. And time passes much faster than we think, and even if this investor puts aside such amounts, he will see the results, and a commitment to investing in DCA will be developed within him. I am absolutely sure that every such person will have a lot of money in their future life that can help them increase their investments. Until then, he just needs to prepare himself and his habits and understanding of smart investing.

it won't be a bad idea to be using $5 to accumulate bitcoin on weekly basis using DCA strategy. The most important thing is being consistent using DCA strategy and then we can be able to build up a good portfolio bitcoin. However, if the platform we are using not accumulate the bitcoin is charging fees, it will be best to save the money for some weeks like 2-3 weeks or more before buying to avoid being charged each time we buy bitcoin.

[Onyeeze]

Investing long term is just one part of it, every bitcoin investor should make sure they are investing with their discretionary income because even though your plan if lon term and you are investing with more than you discretionary income you will be be able to keep investing for long enough so while making sure your target is long term you should make sure it all comes from your discretionary income and that you also have your backup funds in place as well, if you don't have them set up already then you can do so from your discretionary income as well along side your bitcoin accumulation.

if you invest with a discretionary income even though you lose it will not affect you and that is why we are advising people to invest with the word they can afford to lose so that if then lose it will not affect them not to continue whatever thing they want to do or what they are doing, but some people likely invest what they can't afford to lose and immediately the investment goes against them they will began to feel regret of investing in Bitcoin, most of the investors does not know that the Investment have a target and you must be invest at the key target before you can make a profit that you are anticipating to have

[JayJuanGee]

[edited out]

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

Let's use a Naira example, and maybe we can talk about a guy who is struggling with his income and also having some inconsistencies with his income and his expenses.

Let's say that he had figure out from where he was going to buy his bitcoin, yet he still feels that he needs to get his bitcoin purchases up to a certain amount before it makes sense to buy bitcoin.

So maybe he would like to buy 50k naira's worth of bitcoin every two weeks, but he is pretty sure that he cannot reach that amount.

So he starts a side fund of cash, so that whenever that fund gets up to 60k naira, he will buy 35k in bitcoin, put 15k into another cash savings account (back up funds) and then he will resume building up the money until the next time he reaches 60k naira in that account.

Now these do not need to be complicated categories, and it can be money that is kept in various places, yet he is keeping track of his extra funds so that he ends up building up his bitcoin and his naira at the same time.  I know that some guys might also want to keep some money in dollars too since dollars might hold value better than the Naira.. and there is nothing wrong with that as long as he is treating his naira and dollars as forms of cash, and his bitcoin as a form of investment for the long term.  And practice will help guys to figure out some kind of a balance that work for them.  Maybe every once in a while the guy will get up to 60k naira quickly and then other times it might take him a whole month to get up to that amount.  He probably wants to try to figure out ways to increase his discretionary funds by increasing his income and/or by decreasing his expenses, yet at the same time, he is ongoingly working within his own means and perhaps every month able to measure progress, even if some months are smaller levels of progress than other months.

[Cleanslate_]

For an investor not to become a gambler, he needs to hold unto his coin and keep accumulating for a long term of 4-10 years and above, because Bitcoin is designed for long term and not a short term.

Accumulation of Bitcoin is done basically for investment and for gambling when you start selling at any point on time that you need funds in other to meet up your expenses makes you a gambler which is not good for any investor or bitcoin community at large.

[laijsica]

For an investor not to become a gambler, he needs to hold unto his coin and keep accumulating for a long term of 4-10 years and above, because Bitcoin is designed for long term and not a short term.

Accumulation of Bitcoin is done basically for investment and for gambling when you start selling at any point on time that you need funds in other to meet up your expenses makes you a gambler which is not good for any investor or bitcoin community at large.

Investing will become a risky way for you like gambling if you cannot determine the strategy properly. Not only long term strategy but you have to accumulate Bitcoin regularly. In my opinion if you keep it in a holding state using leverage it is like a kind of gambling because after 4 years or longer its value may decrease or increase it is an uncertain matter.

You have to accumulate Bitcoin and the strategy should be to be consistent in every price situation of the market. The most positive aspect of this method is the average value reduction in the portfolio. If you can do DCA regularly through discretionary income, the long term investment risk is reduced.

[Decimetre]

[edited out]

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

Let's use a Naira example, and maybe we can talk about a guy who is struggling with his income and also having some inconsistencies with his income and his expenses.

Let's say that he had figure out from where he was going to buy his bitcoin, yet he still feels that he needs to get his bitcoin purchases up to a certain amount before it makes sense to buy bitcoin.

So maybe he would like to buy 50k naira's worth of bitcoin every two weeks, but he is pretty sure that he cannot reach that amount.

So he starts a side fund of cash, so that whenever that fund gets up to 60k naira, he will buy 35k in bitcoin, put 15k into another cash savings account (back up funds) and then he will resume building up the money until the next time he reaches 60k naira in that account.

Now these do not need to be complicated categories, and it can be money that is kept in various places, yet he is keeping track of his extra funds so that he ends up building up his bitcoin and his naira at the same time.  I know that some guys might also want to keep some money in dollars too since dollars might hold value better than the Naira.. and there is nothing wrong with that as long as he is treating his naira and dollars as forms of cash, and his bitcoin as a form of investment for the long term.  And practice will help guys to figure out some kind of a balance that work for them.  Maybe every once in a while the guy will get up to 60k naira quickly and then other times it might take him a whole month to get up to that amount.  He probably wants to try to figure out ways to increase his discretionary funds by increasing his income and/or by decreasing his expenses, yet at the same time, he is ongoingly working within his own means and perhaps every month able to measure progress, even if some months are smaller levels of progress than other months.

This explanation has come locally and I think it's well articulated locally too. Some folks don't see it in that manner to plan with their local currency because they imagine when they will be able to invest around $50, $30 or even $100 which is way harder to raise than when planned based on your local earnings.

Your illustrations will bring back the mindset of planning your bitcoin investment based on your local earnings because that's what you can equally convert to dollar and invest with. Investing 25k in Naira is easier than investing $25 and saving up from your 20k in Naira put into savings and saving to reach 60k before investing another 25k in Naira would indirectly form a DCA pattern for folks who are not into a salary job but are willing to invest in bitcoin and also allow such people to always have cash around for other responsibilities and emergencies.

[Jostern]

[edited out]

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

Let's use a Naira example, and maybe we can talk about a guy who is struggling with his income and also having some inconsistencies with his income and his expenses.

Let's say that he had figure out from where he was going to buy his bitcoin, yet he still feels that he needs to get his bitcoin purchases up to a certain amount before it makes sense to buy bitcoin.

So maybe he would like to buy 50k naira's worth of bitcoin every two weeks, but he is pretty sure that he cannot reach that amount.

So he starts a side fund of cash, so that whenever that fund gets up to 60k naira, he will buy 35k in bitcoin, put 15k into another cash savings account (back up funds) and then he will resume building up the money until the next time he reaches 60k naira in that account.

Now these do not need to be complicated categories, and it can be money that is kept in various places, yet he is keeping track of his extra funds so that he ends up building up his bitcoin and his naira at the same time.  I know that some guys might also want to keep some money in dollars too since dollars might hold value better than the Naira.. and there is nothing wrong with that as long as he is treating his naira and dollars as forms of cash, and his bitcoin as a form of investment for the long term.  And practice will help guys to figure out some kind of a balance that work for them.  Maybe every once in a while the guy will get up to 60k naira quickly and then other times it might take him a whole month to get up to that amount.  He probably wants to try to figure out ways to increase his discretionary funds by increasing his income and/or by decreasing his expenses, yet at the same time, he is ongoingly working within his own means and perhaps every month able to measure progress, even if some months are smaller levels of progress than other months.

From your statement, I think this individual must be very motivated with buying and accumulating bitcoin, what are my talking about, if an individual is steadfast with figuring out ways to buy bitcoin consistently and also trying to increase his cashflow to be able to keep buying bitcoin for a long term, and also to have opportunities to buy more bitcoin by increasing of discretionary income, and also having a proper financial backup strategy.

However like you were saying, if an individual’ investor is able to buy 20k Bitcoin on a monthly basis, personally from my own point of view he is having a discretionary income of 50k and he is able to use 20k Naira to buy Bitcoin and saving the remaining money for his backup fund, should in case of any unforeseen financial situation arise you can have a possible solution from there, which is a very nice strategic plans that would work for a long term investor.

And that doesn’t stop the individual investor to find other means of increasing there discretionary, I absolutely think that if an investor is buying Bitcoin, and they feel like they’re not accumulating enough, which results in aggressive buying, and also trying to have more availability of increasing discretionary income should always be welcomed to create a balance with consistency and aggressive buying.

Now you have increased your discretionary income, and starts buying in a large number of quantity that we feel satisfied, you’re investing a certain amount of money in bitcoin, and keeping some money aside as savings for backup funds, either on dollar or Naira, that is a well done strategy of investing in bitcoin, but I will suggest that in the process of finding this balance don’t neglect to keep buying even when you’ve not achieved the primary purpose of investing little by little as much as we have available.

So I must say that you’re absolutely correct with your analysis.

[Stive009]

For an investor not to become a gambler, he needs to hold unto his coin and keep accumulating for a long term of 4-10 years and above, because Bitcoin is designed for long term and not a short term.

Accumulation of Bitcoin is done basically for investment and for gambling when you start selling at any point on time that you need funds in other to meet up your expenses makes you a gambler which is not good for any investor or bitcoin community at large.

The advice you have given to hold and accumulate Bitcoin for 4-10 years or more is really great as a long-term perspective.
​But I cannot agree with your last point at all. The idea that someone becomes a gambler by selling Bitcoin for family needs does not seem reasonable to me in any way. ​Suppose an ordinary employee or a person with a limited income started buying Bitcoin with a 4-10 year mindset. He also had his own emergency fund or backup fund. But no one can predict in advance what situations will arise in a person's life. Suddenly he or his family faces a major crisis or medical emergency where even after all the money in his emergency fund is gone a huge amount of money is still needed.​ Now he has two options open to him.

take a loan at high interest or borrow from someone whose installments will be an extreme mental and financial burden on his limited salary for years to come.Or to get out of this crisis by breaking his own Bitcoin. Now tell me if this man breaks his Bitcoin portfolio or sells his accumulated coins to escape from the crisis by breaking his life destroying high interest debt did he become a gambler?
​Not at all. Rather Bitcoin acted as a financial life saver or shield for him and his family. We invest in Bitcoin so that in times of danger we do not have to touch anyone or take loans at high interest rates.

​Gamblers are those who bet on trading charts without any risk management in the hope of 10x or 100x profit. But using your hard-earned wealth to protect your family in times of danger is not gambling this is the real value of wealth accumulation

[ZeroVinsonN]

[edited out]

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

Let's use a Naira example, and maybe we can talk about a guy who is struggling with his income and also having some inconsistencies with his income and his expenses.

Let's say that he had figure out from where he was going to buy his bitcoin, yet he still feels that he needs to get his bitcoin purchases up to a certain amount before it makes sense to buy bitcoin.

So maybe he would like to buy 50k naira's worth of bitcoin every two weeks, but he is pretty sure that he cannot reach that amount.

So he starts a side fund of cash, so that whenever that fund gets up to 60k naira, he will buy 35k in bitcoin, put 15k into another cash savings account (back up funds) and then he will resume building up the money until the next time he reaches 60k naira in that account.

Now these do not need to be complicated categories, and it can be money that is kept in various places, yet he is keeping track of his extra funds so that he ends up building up his bitcoin and his naira at the same time.  I know that some guys might also want to keep some money in dollars too since dollars might hold value better than the Naira.. and there is nothing wrong with that as long as he is treating his naira and dollars as forms of cash, and his bitcoin as a form of investment for the long term.  And practice will help guys to figure out some kind of a balance that work for them.  Maybe every once in a while the guy will get up to 60k naira quickly and then other times it might take him a whole month to get up to that amount.  He probably wants to try to figure out ways to increase his discretionary funds by increasing his income and/or by decreasing his expenses, yet at the same time, he is ongoingly working within his own means and perhaps every month able to measure progress, even if some months are smaller levels of progress than other months.

This explanation has come locally and I think it's well articulated locally too. Some folks don't see it in that manner to plan with their local currency because they imagine when they will be able to invest around $50, $30 or even $100 which is way harder to raise than when planned based on your local earnings.

Your illustrations will bring back the mindset of planning your bitcoin investment based on your local earnings because that's what you can equally convert to dollar and invest with. Investing 25k in Naira is easier than investing $25 and saving up from your 20k in Naira put into savings and saving to reach 60k before investing another 25k in Naira would indirectly form a DCA pattern for folks who are not into a salary job but are willing to invest in bitcoin and also allow such people to always have cash around for other responsibilities and emergencies.

It's interesting, for every 60k naira you've been able to get (which is your discretionary income) you can then from there invest part of it in bitcoin, of course sometimes you can save up to this amount in less time than in order but what's important is that you are able to do so and invest in bitcoin from it, your emergency fund can also be built from this as well, the advantage of this is that you are not rushing yourself unnecessarily as it should be for anyone who's investing in bitcoin, your bitcoin should be treated as what it is; an investment, a long term investment that should be done within your own means.

[samadam007]

The advice you have given to hold and accumulate Bitcoin for 4-10 years or more is really great as a long-term perspective.
​But I cannot agree with your last point at all. The idea that someone becomes a gambler by selling Bitcoin for family needs does not seem reasonable to me in any way. ​Suppose an ordinary employee or a person with a limited income started buying Bitcoin with a 4-10 year mindset. He also had his own emergency fund or backup fund. But no one can predict in advance what situations will arise in a person's life. Suddenly he or his family faces a major crisis or medical emergency where even after all the money in his emergency fund is gone a huge amount of money is still needed.​ Now he has two options open to him.

take a loan at high interest or borrow from someone whose installments will be an extreme mental and financial burden on his limited salary for years to come.Or to get out of this crisis by breaking his own Bitcoin. Now tell me if this man breaks his Bitcoin portfolio or sells his accumulated coins to escape from the crisis by breaking his life destroying high interest debt did he become a gambler?
​Not at all. Rather Bitcoin acted as a financial life saver or shield for him and his family. We invest in Bitcoin so that in times of danger we do not have to touch anyone or take loans at high interest rates.

​Gamblers are those who bet on trading charts without any risk management in the hope of 10x or 100x profit. But using your hard-earned wealth to protect your family in times of danger is not gambling this is the real value of wealth accumulation

You ignorantly created a rare situation where someone has already finished his entire emergency fund and is now facing another huge crisis, then used that extreme situation to justify selling Bitcoin, when the whole point of long term accumulation is to build your position and leave it alone for years. If you expect to sell your bitcoin whenever a big financial problem come up, then what’s the point calling it long term investment in the first place?

Another ignorant statement is where you said that “we invest in Bitcoin so that in times of danger we don’t have to take loans”. That’s a very dangerous way to frame Bitcoin and it is misleading. Bitcoin is not an emergency fund. If you make selling it part of your financial plan whenever a major expense comes, then you’re longer practicing a sustainable long term plan

This is why a non stop building of cash savings, emergency fund and backup funds matter. Of course, you cannot predict every problem that will happen in life, but you can prepare for many of them. The solid your financial setup is, the less likely you interrupt your long term investment.

Gambling is not only trading charts. Someone can also behave like a gambler by putting money they cannot afford to lose into Bitcoin because they are depending on a big future price increase.

[Crakryptvest]

it won't be a bad idea to be using $5 to accumulate bitcoin on weekly basis using DCA strategy. The most important thing is being consistent using DCA strategy and then we can be able to build up a good portfolio bitcoin. However, if the platform we are using not accumulate the bitcoin is charging fees, it will be best to save the money for some weeks like 2-3 weeks or more before buying to avoid being charged each time we buy bitcoin.

I'm not against any investor that invest with this amount as you indicated as long as it falls within their discreationary income, going above your discreationary income to invest in Bitcoin is not wise, in my opinion investors investing outside their discreationary income might run into situations that might result in selling due to panic coming from the market, to stay out of pressure and panic in such scenario, right approaches must be continually followed.
Saving up the amount you pointed out before investing it might not be bad a idea for those that can not fall for the temptation to use it for other things during the time it is been accumulated, but from my own perspective, the right way should be investing the amount as they are available as the fees won't be that much.

[Sally9256]

For an investor not to become a gambler, he needs to hold unto his coin and keep accumulating for a long term of 4-10 years and above, because Bitcoin is designed for long term and not a short term.

Accumulation of Bitcoin is done basically for investment and for gambling when you start selling at any point on time that you need funds in other to meet up your expenses makes you a gambler which is not good for any investor or bitcoin community at large.

The advice you have given to hold and accumulate Bitcoin for 4-10 years or more is really great as a long-term perspective.
​But I cannot agree with your last point at all. The idea that someone becomes a gambler by selling Bitcoin for family needs does not seem reasonable to me in any way. ​Suppose an ordinary employee or a person with a limited income started buying Bitcoin with a 4-10 year mindset. He also had his own emergency fund or backup fund. But no one can predict in advance what situations will arise in a person's life. Suddenly he or his family faces a major crisis or medical emergency where even after all the money in his emergency fund is gone a huge amount of money is still needed.​ Now he has two options open to him.

take a loan at high interest or borrow from someone whose installments will be an extreme mental and financial burden on his limited salary for years to come.Or to get out of this crisis by breaking his own Bitcoin. Now tell me if this man breaks his Bitcoin portfolio or sells his accumulated coins to escape from the crisis by breaking his life destroying high interest debt did he become a gambler?
​Not at all. Rather Bitcoin acted as a financial life saver or shield for him and his family. We invest in Bitcoin so that in times of danger we do not have to touch anyone or take loans at high interest rates.

​Gamblers are those who bet on trading charts without any risk management in the hope of 10x or 100x profit. But using your hard-earned wealth to protect your family in times of danger is not gambling this is the real value of wealth accumulation

Bitcoin Is an asset not to be touch, especially when you have a fixed date on it. This is why discipline is a huge part in all investment. Just because bitcoin gives you that total control doesn’t mean you should sell at any given opportunity.

It is very advisable to build your emergency and reserve fund as your are building your bitcoin portfolio. So even when your are faced by hospitals emergencies, so long you keep investing in your emergency funds it will hardly run dry, besides reserve fund is also there to back it up.

So bitcoin is not there for emergency reason, Bitcoin is there to make sure you have a secured financial future.

[Gost ms]

The advice you have given to hold and accumulate Bitcoin for 4-10 years or more is really great as a long-term perspective.
​But I cannot agree with your last point at all. The idea that someone becomes a gambler by selling Bitcoin for family needs does not seem reasonable to me in any way. ​Suppose an ordinary employee or a person with a limited income started buying Bitcoin with a 4-10 year mindset. He also had his own emergency fund or backup fund. But no one can predict in advance what situations will arise in a person's life. Suddenly he or his family faces a major crisis or medical emergency where even after all the money in his emergency fund is gone a huge amount of money is still needed.​ Now he has two options open to him.

take a loan at high interest or borrow from someone whose installments will be an extreme mental and financial burden on his limited salary for years to come.Or to get out of this crisis by breaking his own Bitcoin. Now tell me if this man breaks his Bitcoin portfolio or sells his accumulated coins to escape from the crisis by breaking his life destroying high interest debt did he become a gambler?
​Not at all. Rather Bitcoin acted as a financial life saver or shield for him and his family. We invest in Bitcoin so that in times of danger we do not have to touch anyone or take loans at high interest rates.

​Gamblers are those who bet on trading charts without any risk management in the hope of 10x or 100x profit. But using your hard-earned wealth to protect your family in times of danger is not gambling this is the real value of wealth accumulation

I agree with your above part, but I can't agree with this part. Your comment is a bit confusing. Bitcoin is not an emergency fund that you can use to deal with your financial situation or financial crisis with Bitcoin in times of danger. Yes, it is absolutely true that if there is no way out, then selling your holdings will definitely be the right decision. But if you have a way out, then selling will never be the right decision.

Since you have a way out to take a loan and you have the ability to repay the loan, then taking a loan can definitely be the best decision. Because whenever you try to break your holdings or break them, you will fall behind a lot and later it is not possible to say exactly whether you will be able to save this amount of Bitcoin or not. So if you search in several places and if you can take a loan with low interest and installments, then I think it is better to take this approach.

[Onyeeze]

[edited out]

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

Let's use a Naira example, and maybe we can talk about a guy who is struggling with his income and also having some inconsistencies with his income and his expenses.

Let's say that he had figure out from where he was going to buy his bitcoin, yet he still feels that he needs to get his bitcoin purchases up to a certain amount before it makes sense to buy bitcoin.

So maybe he would like to buy 50k naira's worth of bitcoin every two weeks, but he is pretty sure that he cannot reach that amount.

So he starts a side fund of cash, so that whenever that fund gets up to 60k naira, he will buy 35k in bitcoin, put 15k into another cash savings account (back up funds) and then he will resume building up the money until the next time he reaches 60k naira in that account.

Now these do not need to be complicated categories, and it can be money that is kept in various places, yet he is keeping track of his extra funds so that he ends up building up his bitcoin and his naira at the same time.  I know that some guys might also want to keep some money in dollars too since dollars might hold value better than the Naira.. and there is nothing wrong with that as long as he is treating his naira and dollars as forms of cash, and his bitcoin as a form of investment for the long term.  And practice will help guys to figure out some kind of a balance that work for them.  Maybe every once in a while the guy will get up to 60k naira quickly and then other times it might take him a whole month to get up to that amount.  He probably wants to try to figure out ways to increase his discretionary funds by increasing his income and/or by decreasing his expenses, yet at the same time, he is ongoingly working within his own means and perhaps every month able to measure progress, even if some months are smaller levels of progress than other months.

it is easy for someone to achieve something with what you said, but the thing is that if you are not determined to invest the person cannot be able to serve out money for the investment, the most important thing is for the person to be determined, if the person is not mind it will cut down his expenses so that he can have a savings for investment, but once he does not cut down the expenses how he spend daily or weekly there's nothing we make the person to be able to invest or to be able to have a discretionary income to invest, only that make somebody to achieve his plan is to apply a wisdom with strategies, so it is easy to achieve but it requires a discipline and determination

[Joeboy]

....

This explanation has come locally and I think it's well articulated locally too. Some folks don't see it in that manner to plan with their local currency because they imagine when they will be able to invest around $50, $30 or even $100 which is way harder to raise than when planned based on your local earnings.

Your illustrations will bring back the mindset of planning your bitcoin investment based on your local earnings because that's what you can equally convert to dollar and invest with. Investing 25k in Naira is easier than investing $25 and saving up from your 20k in Naira put into savings and saving to reach 60k before investing another 25k in Naira would indirectly form a DCA pattern for folks who are not into a salary job but are willing to invest in bitcoin and also allow such people to always have cash around for other responsibilities and emergencies.

DCA isn't as complicated as you are making it seem.. Coz what is even the point of saving up before folks can buy, when they could very well go ahead to invest those amounts regardless of how small it may be... Honestly,.if someone has taken care of their basic needs and responsibilities and then the individual has #20,000 as Discretionary income for investment, then really there is no need of waiting until that amount gets to #60,000 before going ahead to invest it into Bitcoin... You should know that while waiting there is a very high chance that you could very well spend that money on something else which isn't even your investment... Moreso your investment amount doesn't have to be that large before you can kickstart your investment...Just start and then increase it as you go..

[ASloveapg]

Imo, even with small discretionary income, person can still invest ongoingly by starting from somewhere and along the way they can figure out way to increase their discretionary income so they can increase their investments money. Even if a time comes when person don't have discretionary income, then the person can still  invest whenever they have discretionary income, that is how flexible investment works.

I think it is absolutely reasonable to invest even $5 in a couple of weeks, because this will develop a habit in the investor. The main thing is that he understands exactly why he is doing this and sees prospects in the future for his remote income to increase, and then such a positive faith will not let him give up. And time passes much faster than we think, and even if this investor puts aside such amounts, he will see the results, and a commitment to investing in DCA will be developed within him. I am absolutely sure that every such person will have a lot of money in their future life that can help them increase their investments. Until then, he just needs to prepare himself and his habits and understanding of smart investing.

it won't be a bad idea to be using $5 to accumulate bitcoin on weekly basis using DCA strategy. The most important thing is being consistent using DCA strategy and then we can be able to build up a good portfolio bitcoin. However, if the platform we are using not accumulate the bitcoin is charging fees, it will be best to save the money for some weeks like 2-3 weeks or more before buying to avoid being charged each time we buy bitcoin.

But I think we shouldn't worry about this small fee of $0.10-0.20, but instead focus on consistency, waiting 2-3 weeks to buy means you are missing out on the price changes during that time, instead if you continue to buy weekly, it will create a better average value portfolio.

A small fee usually doesn't have much of an impact in the long run, and if we can focus on buying consistently instead, it can make a huge difference in long-term success, so I definitely think that consistency is much more beneficial than saving a few cents in fees. It makes more sense to buy $5 worth of Bitcoin every week consistently than to save money and buy after a few weeks to save on fees.

[JayJuanGee]

For an investor not to become a gambler, he needs to hold unto his coin and keep accumulating for a long term of 4-10 years and above, because Bitcoin is designed for long term and not a short term.

Accumulation of Bitcoin is done basically for investment and for gambling when you start selling at any point on time that you need funds in other to meet up your expenses makes you a gambler which is not good for any investor or bitcoin community at large.

The advice you have given to hold and accumulate Bitcoin for 4-10 years or more is really great as a long-term perspective.
​But I cannot agree with your last point at all. The idea that someone becomes a gambler by selling Bitcoin for family needs does not seem reasonable to me in any way. ​Suppose an ordinary employee or a person with a limited income started buying Bitcoin with a 4-10 year mindset. He also had his own emergency fund or backup fund. But no one can predict in advance what situations will arise in a person's life. Suddenly he or his family faces a major crisis or medical emergency where even after all the money in his emergency fund is gone a huge amount of money is still needed.​ Now he has two options open to him.

take a loan at high interest or borrow from someone whose installments will be an extreme mental and financial burden on his limited salary for years to come.Or to get out of this crisis by breaking his own Bitcoin. Now tell me if this man breaks his Bitcoin portfolio or sells his accumulated coins to escape from the crisis by breaking his life destroying high interest debt did he become a gambler?
​Not at all. Rather Bitcoin acted as a financial life saver or shield for him and his family. We invest in Bitcoin so that in times of danger we do not have to touch anyone or take loans at high interest rates.

​Gamblers are those who bet on trading charts without any risk management in the hope of 10x or 100x profit. But using your hard-earned wealth to protect your family in times of danger is not gambling this is the real value of wealth accumulation

Guys should not be investing into bitcoin with amounts of money they need for expenses, and sometimes it can be difficult to determine if a guy might have had been investing too much into bitcoin, since he does not have enough money to cover the various basic needs.

Sure, none of us, pro-bitcoin folks, want to discourage buying bitcoin, yet sometimes guys might not have enough income to be able to put money into bitcoin, and they have to figure out how to increase their income and/or decrease their expenses.

And, yeah, if it appears that guys are using money that they need for their basic expenses, then it can seem like trading and/or gambling... even though sometimes the future shortages of income and/or increases in expenses may well been unforeseeable.

....

This explanation has come locally and I think it's well articulated locally too. Some folks don't see it in that manner to plan with their local currency because they imagine when they will be able to invest around $50, $30 or even $100 which is way harder to raise than when planned based on your local earnings.

Your illustrations will bring back the mindset of planning your bitcoin investment based on your local earnings because that's what you can equally convert to dollar and invest with. Investing 25k in Naira is easier than investing $25 and saving up from your 20k in Naira put into savings and saving to reach 60k before investing another 25k in Naira would indirectly form a DCA pattern for folks who are not into a salary job but are willing to invest in bitcoin and also allow such people to always have cash around for other responsibilities and emergencies.

DCA isn't as complicated as you are making it seem.. Coz what is even the point of saving up before folks can buy, when they could very well go ahead to invest those amounts regardless of how small it may be... Honestly,.if someone has taken care of their basic needs and responsibilities and then the individual has #20,000 as Discretionary income for investment, then really there is no need of waiting until that amount gets to #60,000 before going ahead to invest it into Bitcoin... You should know that while waiting there is a very high chance that you could very well spend that money on something else which isn't even your investment... Moreso your investment amount doesn't have to be that large before you can kickstart your investment...Just start and then increase it as you go..

Personally, I would like to encourage bitcoin newbies and guys who are in their early stages of bitcoin accumulation to put systems into place so that they are buying bitcoin every week no matter what, yet there are a lot of guys who complain about how difficult it is for them to earn enough to have discretionary funds and/or to keep their income strong and their expenses low, and so they struggle to get large amounts of cashflow to be able to buy bitcoin every week no matter what.

So sometimes we have to attempt to deal with the practicality of guys who are struggling to survive from pay check to pay check.

By the way, prior to 2020, I would frequently tell people (even in the west) to invest whatever they could into bitcoin, even if it ONLY ended up being $10 per week; however, after March 2020, I started to ongoingly telling people to invest $100 per week into bitcoin, except I still had to cover situations in which it is completely impractical for some guys to invest $100 per week into bitcoin if their income was not even close to that high, and more importantly, their discretionary income was sometimes quite difficult to rely upon.

So, we are back to the situation of recommending guys to invest as much as they can without overdoing it.. and for some guys, as much as they can without overdoing it, is quite a small amount and they are struggling to make sure that all of their bills are paid.  When guys are having troubles getting enough cash together, they have to think of ways to maybe accomplish that, and then hopefully if they have enough (or more than enough) they can take some portion of that cash and use it to buy bitcoin.. and to do that as frequently as they can.  If they can do it every week that would be great, and if it takes them longer than a week, well that happens to be their situation, so they have to do as best as they can based on their own circumstances, which may well include a lot of struggling for 4-10 years or longer, in the event that they are going to be able to ongoingly invest in bitcoin that long.

[Lembo69]

[edited out]

I agree with your point on this, I love seeing some guys using thier common senses towards Bitcoin investment ideas, by keep some part of thier earning aside before investing, there's no cause for alarm when starting with small amounts no matter how little it is. That's shows that the newbies knows what his doing, he has think beyond today and trying lay a good background on something that may benefit him later in the future, it's obvious for some people to even have this simple habit.

However, if some newbies decide to use several weeks to gather enough funds before begin or buying bitcoin, it's perfectly okay, but the most relevant thing is to developing the disciplines and the habit of consistent purchases regularly without affecting his daily needs or putting himself into pressures, that's why it's good to keep emergency money separately. Building your bitcoin position from whatever you have as discretionary income you can afford to lose is much better than rushing to purchase bitcoin just because everybody is buying. A drops of a water makes an ocean.

Let's use a Naira example, and maybe we can talk about a guy who is struggling with his income and also having some inconsistencies with his income and his expenses.

Let's say that he had figure out from where he was going to buy his bitcoin, yet he still feels that he needs to get his bitcoin purchases up to a certain amount before it makes sense to buy bitcoin.

So maybe he would like to buy 50k naira's worth of bitcoin every two weeks, but he is pretty sure that he cannot reach that amount.

So he starts a side fund of cash, so that whenever that fund gets up to 60k naira, he will buy 35k in bitcoin, put 15k into another cash savings account (back up funds) and then he will resume building up the money until the next time he reaches 60k naira in that account.

Now these do not need to be complicated categories, and it can be money that is kept in various places, yet he is keeping track of his extra funds so that he ends up building up his bitcoin and his naira at the same time.  I know that some guys might also want to keep some money in dollars too since dollars might hold value better than the Naira.. and there is nothing wrong with that as long as he is treating his naira and dollars as forms of cash, and his bitcoin as a form of investment for the long term.  And practice will help guys to figure out some kind of a balance that work for them.  Maybe every once in a while the guy will get up to 60k naira quickly and then other times it might take him a whole month to get up to that amount.  He probably wants to try to figure out ways to increase his discretionary funds by increasing his income and/or by decreasing his expenses, yet at the same time, he is ongoingly working within his own means and perhaps every month able to measure progress, even if some months are smaller levels of progress than other months.

it is easy for someone to achieve something with what you said, but the thing is that if you are not determined to invest the person cannot be able to serve out money for the investment, the most important thing is for the person to be determined, if the person is not mind it will cut down his expenses so that he can have a savings for investment, but once he does not cut down the expenses how he spend daily or weekly there's nothing we make the person to be able to invest or to be able to have a discretionary income to invest, only that make somebody to achieve his plan is to apply a wisdom with strategies, so it is easy to achieve but it requires a discipline and determination

A person cannot expect to make a profit without long-term investment. If he wants to invest, he must make a long-term investment. It may take a long time to build a sustainable investment, but once he is able to move forward according to his long-term plan, then that investment can be a profitable opportunity for him. If someone wants to reduce his expenses and invest more, this will be a good plan for him. Because he will not follow this process with the hope of making a quick profit, but rather to accumulate more BTC quickly. There are many investors who are not disciplined in their investments. They only invest some amount occasionally when they want. They are not regular in their investments. In such a situation, will they be able to collect more BTC than a regular investor. Maybe they cannot, so first of all we have to be a regular investor and maintain investment discipline