Topic: Am I Too Broke To Own Bitcoin? (Read 501 times)
Bitcoin for life, not to hold a lifetime. If your dream is big, then you should hold on until you reach your goal. But if you need to sell bitcoin to survive, then nothing is wrong. It doesn't matter if you are selling bear or bull, but the fact is, you shouldn't sell at a loss. If you need to sell at a loss to survive, then try to buy back with the DCA strategy. Try to accumulate a dip with your savings. Your earnings aren't bad; try to manage not to sell your bitcoin. Then, once a day, your dream would come true. But I will say, don't over-expect from Bitcoin.
With proper planning and a source of income, no matter how little it pays, someone can always buy BTC or invest using the DCA strategy which demands only bits of Satoshis monthly or weekly depending on how carefully one has made his plans and has tailored their life with discipline.
Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.
Huge some of money does not determine if an investment will end up well or not, what determine an investment to be profitable even with a small amount of money is understanding and planning. In bitcoin investment you don't need to wait to have all the money to start up an investment, the investment can commence by accumulating some amount of Bitcoin from time to time, waiting to get save money to start up big can be a waste of time that opportunity of buying bitcoin low will be missed. Their is no amount to start bitcoin investment that won't be profitable if hodling of bitcoin is applied. Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.
Its true that it would really be mattering on the time that you would really be mattering on well you would really be able to handle up yourself into this kind of investment on which it
wont really be something to be so simple. This is why it would really be that best that you should really know on how to hover yourself into this investment world
or else you would really be messing up yourself into this field.
When it comes on holding or owning bitcoin, then it wont really be that necessary that you would really be needing to have that purchase a whole coin.
We do know that we could really be able to own Bitcoin on fractions, this is why its better not to stress yourself with having that kind of
ideas in mind just because of this and that.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
you are not alone in this. Their are times you would not be able to hold you Bitcoin even when you intend accumulating it from the signature campaign you see participating in. Their as some people that before payday, they are already waiting to sell off their little fraction of Bitcoin and would hardly hodl it more than 3days in their wallet. This is one if the main reason we are not to invest an amount that we are comfortable with.In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
For someone that earns $3000, that's a nice amount of money if it's coming in on monthly basis and you can choose to invest even 40% of it and still remain financially comfortable.
The idea is that no matter how small, it's still wiser not to eat with the whole hands, at least have some things in reserve for yourself in the future, you can only achieve something like this when you're making some level of savings, reducing the total average cost of your daily expenses, manage up yourself and cut cost to be able to meet up with doing other things, you can't expect things to last long for life, they are just meant to be enjoyed while they last.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
you are not alone in this. Their are times you would not be able to hold you Bitcoin even when you intend accumulating it from the signature campaign you see participating in. Their as some people that before payday, they are already waiting to sell off their little fraction of Bitcoin and would hardly hodl it more than 3days in their wallet. This is one if the main reason we are not to invest an amount that we are comfortable with.In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
For someone that earns $3000, that's a nice amount of money if it's coming in on monthly basis and you can choose to invest even 40% of it and still remain financially comfortable.
With proper planning and a source of income, no matter how little it pays, someone can always buy BTC or invest using the DCA strategy which demands only bits of Satoshis monthly or weekly depending on how carefully one has made his plans and has tailored their life with discipline.
Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.
Huge some of money does not determine if an investment will end up well or not, what determine an investment to be profitable even with a small amount of money is understanding and planning. In bitcoin investment you don't need to wait to have all the money to start up an investment, the investment can commence by accumulating some amount of Bitcoin from time to time, waiting to get save money to start up big can be a waste of time that opportunity of buying bitcoin low will be missed. Their is no amount to start bitcoin investment that won't be profitable if hodling of bitcoin is applied. Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.
Your definition on broke matters and I don't think you're too broke to own Bitcoin, I'm trying to understand something from your topic, the money you earn monthly can't afford your family needs or you find yourself spending unnecessary. Even if your current salary is not enough that doesn't mean you're too broke to invest, when it comes to bitcoin investment it has a lot of strategy except you just don't want to invest.
If you feel your salary is too low for investing, a lot of low salary earners still invest in bitcoin and that's just the best idea, I will even advice low salary earners to take bitcoin investment serious cause it serves as a valuable investment, if you keep facing the same problem each time you want to hold then you should start making budget every month after receiving your salary you should also put bitcoin investment in the list and invest wisely.
If you feel your salary is too low for investing, a lot of low salary earners still invest in bitcoin and that's just the best idea, I will even advice low salary earners to take bitcoin investment serious cause it serves as a valuable investment, if you keep facing the same problem each time you want to hold then you should start making budget every month after receiving your salary you should also put bitcoin investment in the list and invest wisely.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
sorry for that and since you cannot keep holding then you will never have what you desire in Bitcoin mate, better work on it or accept this forever.Quote
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
I am Holding mate and will keep holding till i reached my desired multiplier , but not 300% instead i am enough with at least x2 or 100% of my total capital .Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
yeah 1000% is a greedy dream mate.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money.
I'm not sure where you are living, but this is already a huge income for us, but you might be living in a first-world country where living expenses are too high and as you stated you've been paying something. Even though your salary is huge if you do not cut your expenses it is still the same that you do not have money for savings or investing. I will answer you straight away, you are not too broke to afford Bitcoin, you just need money to pay debts and there are still people in the same situation as you but take into consideration that even others have smaller incomes than yours but still manage to own Bitcoin.
I understand the struggle of hodling. While $3k would be an unimaginably high level of income in my country, I suppose it can be barely enough if a person has a big debt somewhere in the US, so big chunks go to paying off mortgage, student debt, etc. I think that if you feel like you don't have enough to invest, it's totally fine. Just hodl what you can, when you can, and when it doesn't hurt you and your family. That's how it should be, and it's reasonable not to risk it when you're on a tight budget. I try to treat BTC as savings, so I don't spend BTC when I can, but sell some when I have to.
....Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
Your earning is still capable of having an investment but of course we have different state of living if you have an extra money and would like to earn atleast and take risk make an investment than waiting for the banks having your profit to the locked money with just annual per year percentage, than making a large profit with the market volatile of the crypto. It depends on you how much you risk and how long you hold this must be added or a must to your plan before making an investment, if you are going for a long term or short term. Another thing when it comes in investment with crypto not as always that this becomes peoples safe haven not as always people getting profit here.
Investment where you think you are comfortable.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
My good man, you are broke because you do not hodl the Bitcoin that you can afford. If you cannot afford to buy any Bitcoin, that is understandable. Payments must be made, there is no other choice. But I think anyone can save up a few dollars to grow their BTC bags.
Sorry but it seems to me that your fiat mindset is dragging you down as you have been exposed to that unjust and corrupt system of money for so long that you now cannot imagine your financial life in any other way. In fact, if you were to trade any expendable fiat in for Bitcoin, you would probably panic sell during every major volatile price event. Flip flopping back and forth on your investment will definitely make you even poorer as you lose Bitcoin in bad trades and through trading fees (they add up to quite the large amount over time).
You need to sort yourself out before you think about Bitcoin. Your current mindset is not helping you.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Buy and Hold is the simplest and easiest way to invest in crypto.
However, Hodl is just one strategy to maximize profits. There are many more ways to maximize profits to achieve financial freedom.
Before deciding to invest, it would be better if an investor must determine his investment goals, whether for the short term or long term.
After setting the goals, we choose what strategy is most appropriate to achieve these goals.
So, Bitcoin is just an investment asset. Building a mindset to become a successful investor is more important.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
You have been earning a pretty decent amount to ask this here , if you cannot afford owning bitcoin in that 3000 dollars income monthly what more like us who only earn 600-1000 dollars monthly ? maybe better to check your expenses and evaluate what can be adjusted if you truly wanted to invest and have bitcoin , you can even afford buying 1 whole bitcoin in couple of months time while it took us even more than a year having 1. In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
If you are really serious about becoming a trader, you can start educating yourself even without having money to spend. Learn the theory, and then apply it in trading simulations with fun money.
-snip-
Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
Sorry about that, but I think you and your wife need to step up your hurtling, it is until you are free financially and have extra for investments like this that you should relax.Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
As it is, I quite understand, and the more you want to invest, the more you will be forced to liquidate the investment. Some would even be liquidated in losses and so on like that. But do not be discouraged, Bitcoin investment is for you, just start very small, I mean with the money you will not have to think about when you inject it. Continue to save like that and before you know it, it will grow. However, with this style, you should be determined that any money you inject into the market will never be collected in long years, which is why you should not let the money be burdensome, but save only the excess there and take your mind off it as though it is not your money. And yes, if you can make x10 of your money, it is a dream come true. But I must tell you that Bitcoin will not do that for you so easily, that time of such a huge gain has passed.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
$3000 per year or month you get paid from your job? Anyway if you can invest a big amount in bitcoin and hold for a long term then you will get profit from here it is sure but don't know if you will get a huge profit like 1000% but maybe like 300% Bitcoin price has increased thousands of times from its starting price but since Bitcoin price has already crossed $45k so for it to be 1000% Bitcoin price has to be $450k possible but how many years it will take is impossible to say. In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
the situation is indeed not so good for you. where you try to set aside part of your salary for Bitcoin investment but your expenses are not covered by your income. So that's what will force anyone to sell their Bitcoin.
Bitcoin is not only for those who are financially strong. But it would be better to think about long-term investments when your finances are really strong.
Whatever your condition, I hope you will be better in the future. Of course, with Bitcoin, you have to collect it gradually again.
If only they first studied how others became successful in their investment with bitcoins, not just making some sudden decisions where they use their retirement money just to buy bitcoins and hope it will go well quickly. No, it's not like that and it has never been that way for many of us because investment means for long term and when we say long term, we need to have enough money to cover our expenses on our daily essentials and whatever is left after that, we can consider buying bitcoins with it or like what others have been doing, they left their bad habits and converts that money to buy cigarettes and alcohols to buying bitcoins every time they get their salaries and their stories are successful so far.
Would you say that holding BTC isn't for everyone?
the situation is indeed not so good for you. where you try to set aside part of your salary for Bitcoin investment but your expenses are not covered by your income. So that's what will force anyone to sell their Bitcoin.
Bitcoin is not only for those who are financially strong. But it would be better to think about long-term investments when your finances are really strong.
Whatever your condition, I hope you will be better in the future. Of course, with Bitcoin, you have to collect it gradually again.
With proper planning and a source of income, no matter how little it pays, someone can always buy BTC or invest using the DCA strategy which demands only bits of Satoshis monthly or weekly depending on how carefully one has made his plans and has tailored their life with discipline.
Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.
Everyone most times may be too broke to embark on a project until being broke is the main motivation that drives them to attain wealth by Force.
If you plan towards buying BTC and work to get a new job so as to increase how much you earn, within a couple of months, you should be able to own some Sats that would be accumulated overtime.
To be honest, I don't really own bitcoins because I do not HODL. I always see myself selling my coins due to one issue or another, possibly because I really cannot afford to live my dream of holing until Bitcoin makes me rich.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
In practice, I barely earn more than $3000 from my job, my wife's mortgage, and other demands waiting to snap up the money. Sometimes I sell in a bull market, and other times I sell in a bear market. Would you say that holding BTC isn't for everyone? Am I not too broke to depend on Bitcoin for financial freedom? Yeah, I'm working for my financial independence, but Bitcoin has remained a peripheral component of that plan. Only if I can HODL for a few years.
Do you comfortably HODL? 300% is quite a lot. 1000% for me is a dream.
It sounds like you've got a realistic take on your situation, and that's super important in the crypto game. Holding (or HODLing) Bitcoin long-term isn't a one-size-fits-all strategy. It really depends on your personal financial situation and risk tolerance.
With responsibilities like a mortgage and a family to support, it makes total sense that you'd need to cash out sometimes, whether the market's up or down. Life's expenses don't wait for Bitcoin's price to rise, right?
And no, you're definitely not "too broke" for Bitcoin. It's just that Bitcoin investment, like any investment, needs to fit into your broader financial plan. For some, it's a small part of their portfolio, and for others, it's a long-term bet. It's all about what works for you.
If 300% or 1000% gains are your dream, remember, dreams take time. And it's okay if Bitcoin's only a small part of that dream. Your financial independence is a journey, and you're navigating it with the resources you have. Keep focusing on that steady income, managing expenses, and maybe a bit of Bitcoin when you can afford it. Who knows? Maybe one day, you'll hit that dream without even realizing it.
Jump to: