18, holding my bitcoin and looking forward :) - page 4.

sokani

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash

I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund

I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024

I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.

I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.

Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.

You've made a very wise decision to buy Bitcoin at such a young age. I'm glad you have been able to familiarize yourself with some of the market terms like halving, bear market and bull market. I would like make a correction that government cannot stop bitcoin, no one can. They far they can go is to stop or regulate centralized entities where Bitcoin is been traded which might have little or no effect on the market price.

My advice is that you learn about wallet security. Write your seed phrase on a piece of paper and keep it somewhere safe. Get a good hardware wallet like Trezor, Passport, Coldcard and store your funds but if you cannot afford it you can use a non custodial open source wallet like electrum, sparrow, or bluewallet.

Jawhead999

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Activity: 1834

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18 years old, when did you start to invest and how much the biggest unrealized loss or loss ever happen into your investment portfolio? if this is your first time to invest in Bitcoin and you only loss a little amount of money, you need to be careful because not everything you hope will always come true.

Bitcoin is definitely safe especially you hold it on cold storage, but the price is the problem...

fauzan Ichsan

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Quote from: YUriy1991 on August 01, 2023, 07:55:49 AM

Smart decision, but I think you also have other safety money for your daily needs. Yes. This is a long term investment and should not be rushed. if you are committed and don't change what you wrote above, this is a win-win solution for you or others to be free from uncertain inflationary moments and to be free from a financial crisis. BTC is big money for those who think smart and look far ahead. I think 1 BTC will really be felt if its value recovers and returns to normal especially ATH is only solved later.

very impressive at such a young age, but already have extraordinary thoughts for the future finances, of course this is not owned by many young people today, and of course today's young people with such great asset values are certainly not arbitrary young people, only by holding it, the future will be guaranteed. When you graduate from school, maybe you can open your own business or even have started a business before

GeorgeJohn

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According to your scenario it assumed that you have already purchased bitcoin previously and you contemplating when to sell and when not to sell your bitcoin. I want to inform you that bitcoin is not been sell by the year, what you should have done is to have a target or to know exactly what is your target for your prolonged bitcoin investment so that you can't miss out your profit, its good to have a profit target in any investment especially in bitcoin, so therefore I believe that sometimes when the year runs the value of bitcoin neither depreciate or appreciate so the profit gaining or earning of bitcoin is not been determined or dependent on the amount of the incoming and outgoing year. The value of bitcoin is dependent on the marketcap, so the gravity of the demand and the supply of bitcoin, when you have calculated the amount you purchase your coin and have a target and immediately the value of bitcoin get to such value you can cash out your coin. So that my contribution over your investment.

Z-tight

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Quote from: Wend on August 01, 2023, 08:06:06 AM

During the 2022 crisis, bitcoin failed to fulfill its duty as a hedge against inflation. It has also been negatively affected by inflation, severely dumping. So it is too risky to rely solely on bitcoin to save us from inflation and crisis. Every investment has risk, why don't we diversify instead of just focusing on one thing?

BTC doesn't have any 'duty' of being a hedge against inflation, it is not a stable coin; though it can be used by people who want to use it as a hedge against inflation, but they must not forget that BTC is also volatile and the price can either rise or dump, but in the long run BTC price usually pumps very high and people who bought earlier will make profits instead of their money depreciating if it was in fiat. So if you want to talk about BTC being a hedge, it has to be in the long term.

BTC is surely risky, but if one knows what they are doing, the risk is reduced, but i agree with your point on diversification, but in other assets like real estate, gold, etc and probably not in altcoins.

Rahar02

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Activity: 910

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Primarily less than a year before Bitcoin halving as the price fluctuation indicates the time for its next all-time high. Bought 1 bitcoin now at $28K and should be able to make more than double in late 2025 usually around September to November if the pattern repeated. Time flies imperceptibly, many companies will invest in bitcoin and the price could rapidly rise more than $200K, just be patient for the time to come and secure your bitcoin.

Wend

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Quote from: m2017 on August 01, 2023, 07:24:03 AM

Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash

I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund

I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024

I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.

I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.

Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.

No one yet knows how bitcoin will behave during the crisis. Serious crisis. Therefore, relying on bitcoin to the full is risky. What if bitcoin fails to play its role during the crisis and fails to meet the expectations of investors like you who are trying to find a safe haven? Therefore, it is commendable that as a schoolboy you became interested in bitcoin and invest in it in an attempt to avoid the effect of inflation on your savings, but my advice would be the following. Diversify your investments. Keep some cash on hand for current and unexpected expenses so you don't have to sell at a loss bitcoin. Since you are talking about a crisis and you are afraid of it. Also, pay attention to what areas and directions you can invest some of your funds in, but I don't think the stock market is right for this right now, because it is very hot.

You have a point there, you have perfect thoughts and fair judgment about bitcoin, unlike others who just exaggerate about bitcoin. During the 2022 crisis, bitcoin failed to fulfill its duty as a hedge against inflation. It has also been negatively affected by inflation, severely dumping. So it is too risky to rely solely on bitcoin to save us from inflation and crisis. Every investment has risk, why don't we diversify instead of just focusing on one thing?

YUriy1991

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Smart decision, but I think you also have other safety money for your daily needs. Yes. This is a long term investment and should not be rushed. if you are committed and don't change what you wrote above, this is a win-win solution for you or others to be free from uncertain inflationary moments and to be free from a financial crisis. BTC is big money for those who think smart and look far ahead. I think 1 BTC will really be felt if its value recovers and returns to normal especially ATH is only solved later.

michellee

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Activity: 2604

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Stay focused on buying Bitcoin from your job salary and do it regularly to increase your Bitcoin amount. I'm glad you are still in college but already have a good view of Bitcoin and want to start investing in Bitcoin. And I am impressed that you already have 1 BTC, which you bought at $29k.

Another advice is don't use your $3k in the bank to buy Bitcoins and leave it there for an emergency fund. If you already have a job and can get a decent salary, try to buy Bitcoins a week or two weeks or once a month so you can buy Bitcoins regularly.

And one more thing, don't save your Bitcoin on the exchange but save it in another Bitcoin wallet that you can install on a computer or cellphone that you don't use to be more secure. I'm sure you can do it, especially if you're still in college.

m2017

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash

I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund

I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024

I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.

I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.

Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.

No one yet knows how bitcoin will behave during the crisis. Serious crisis. Therefore, relying on bitcoin to the full is risky. What if bitcoin fails to play its role during the crisis and fails to meet the expectations of investors like you who are trying to find a safe haven? Therefore, it is commendable that as a schoolboy you became interested in bitcoin and invest in it in an attempt to avoid the effect of inflation on your savings, but my advice would be the following. Diversify your investments. Keep some cash on hand for current and unexpected expenses so you don't have to sell at a loss bitcoin. Since you are talking about a crisis and you are afraid of it. Also, pay attention to what areas and directions you can invest some of your funds in, but I don't think the stock market is right for this right now, because it is very hot.

eightdots

hero member

Activity: 966

Merit: 764

Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

If you guys have any tips , do let me know ... I would be very grateful for it.

You've already done the right things about Bitcoin by now. After that, set a price for yourself and when it comes to that price, you can sell some according to the needs of that day. Because Bitcoin will offer us the opportunity to buy at every stage.

It may be your education or the things you want to do, so you should not miss some moments of this life. When you come across such moments and you have made a profit from your Bitcoin, you can still sell some of it.

Investing in Bitcoin at an early age is great. I congratulate you on this.

Rockstarguy

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.

Times without number government have tried all their best they could do to stop bitcoin but they couldn't, and I want to let you know that government can't stop bitcoin, Bitcoin will continue to exist for the next generation .
Understanding the purpose of bitcoin will make you realise why you need bitcoin and must invest it, for those who are very lucky to embrace bitcoin and understand it purpose will always find reasons to invest in it. Op you are doing a right thing by investing in Bitcoin, it time coming you will see the benefits of hodling Bitcoin.

Queentoshi

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash

I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund

I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024

I am envious of you because of how young you are and very informed. I regret that there was nothing like bitcoin at the time when I was your current age, If there had been and I had known, I would have made use of the opportunity because by then I was still very much dependent on my parents and had enough spare cash to have invested.

OP, you are lucky and at a very good age, even after the Halving next year, you can still keep holding the bitcoins you have or if you sell off some, it should be for other investments not in cryptocurrency, you do not need to spend it on liabilities. With very good financial decisions @OP, you can become a billionaire before 30, the good foundation is already been established.

GreatArkansas

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash
(....)

I remember my self to you before when I was still in college and when I first own Bitcoin but we are different, I can't afford 1 Bitcoin even cheap before Cheesy

For sure you will learn a lot of things about Bitcoin and the financial field. Because that's what happened to me, I started to become financially literate when I was introduced to Bitcoin which I applied until today.

crwth

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Having 1 BTC at that age is amazing. It's good that you have already invested in cryptocurrency and have a forward-thinking on what it could do for you. I imagine that you definitely have good parents that have brought you nice in which you value the right things.

Maybe try to sell at few times like a percentage of it so you could take advantage of the current price. As long as you build into it, there's no problem.

heslylamba

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Activity: 40

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You have no idea how proud I am of you lol Keep accumulating Bitcoin and don't think that the government can stop this revolution.

Poker Player

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash

I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund

I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024

Not bad, already an emergency fund and investing in Bitcoin. At the age you are at, I would say that the most important thing is to focus on training in skills that will allow you to earn high incomes. To this, I hope you are training without debt. How are you paying for college? Are your parents paying for it?

As for Bitcoin think about even if it goes up a lot in price never sell everything. It is better to go making DCA to accumulate with partial sales at the peaks of the cycle.

BALIK

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Quote from: Cyberbex on July 31, 2023, 10:32:48 AM

I am 18 yo
schooling in private college
I flip stuff for cash part time regularly to make some extra cash

I have 1 Bitcoin @ 29k & I keep about $3000 in cash in my bank as emergency fund

I have 3 months study break so I am most probably gonna take on a job to fund the bitcoin , trying to fund as much as I can before the halving in 2024

I have been researching on bitcoin for a few months now and by researching I meant like the purpose of bitcoin and I see how it is so much better than fiat(cash) . The only thing that can stop bitcoin is probably the government. After understanding the purpose of bitcoin it gave me more confidence on buying it and not seeing it as a 'investment' but more of a freedom digital currency.

I am gonna start deciding to sell it at end of 2024 , but I guess i could wait till end of 2025.

Hopefully bitcoin can save me from this crazy inflation and break me out of this financial crisis.
If you guys have any tips , do let me know ... I would be very grateful for it.

You don't consider bitcoin an investment but consider it a digital currency. Is that real? While you are expecting it to increase in 2024 or 2025 for you to sell it and make a profit. You are even expecting bitcoin to be your savior, saving you from inflation, the crisis that fiat is causing. That means you're treating it like an investment, man. Many people are funny, they always say they only consider bitcoin as a currency, never consider bitcoin as an investment,.. blah... blah...but they discuss and check bitcoin prices every day.

NotATether

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Don't sell your coins in 2024, the price rocket will not hit so early then. Wait until 2025, when there are reports of extreme buying that pumps the price up perhaps to $100K or maybe even higher, and that would be the perfect moment for you to sell if you really want to do that.

Just make sure you have an exchange ready and did your KYC because I can't see many exchanges letting you cash out that much without it. (And stay away from Binance.US)

sysoe

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Wow, you are so smart and ambitious. I wish I was like you when I was 18. I was too busy playing video games and partying. HODL and good luck!

Topic: 18, holding my bitcoin and looking forward :) - page 4. (Read 771 times)