Budget For Halving | Bitcointalksearch.org

Stella Mese

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Quote from: SyndicateLabs on May 23, 2023, 06:13:39 PM

I think this is not a good plan and also encourage you to borrow bitcoin halving. Because it is not certain whether the price will continue for a few more months or not. While it is true that in the first three months of this year, the price has had a good move up, there is not enough data to be sure whether it will continue to rise or not. I don't want to see you fall into such a gamble; it's better for you to accumulate and save the money you earn.

i think so too, borrowing money is not a good thing to invest in btc because we will never know what will happen in the HALVING. because according to my own experience I have also invested from loans and in the end I lost not as expected.
because I'm mentally disturbed and feeling panicked when the price drops.

SyndicateLabs

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I think this is not a good plan and also encourage you to borrow bitcoin halving. Because it is not certain whether the price will continue for a few more months or not. While it is true that in the first three months of this year, the price has had a good move up, there is not enough data to be sure whether it will continue to rise or not. I don't want to see you fall into such a gamble; it's better for you to accumulate and save the money you earn.

lalabotax

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Quote from: milewilda on May 23, 2023, 04:08:01 PM

Dont wait for 2024 unless if you are waiting for possible deepest possible cheap price but actually on the current price that we do have and since you would be holding for long term, then its not really that a bad point

Indeed, actually, ding DCA is a good way to do right now, to prepare for the bullish era, whenever it is.
When we expect it in 2025 or other longer times for the next bullish eras, just do DCA to prepare whatever amount that we want to have.
But, I focus on one of his plans to loan money to prepare for the investment. I really doubt that loaning is a good way for him to invest in Bitcoin. This is too risky. However, if the loan needs certain interest to pay every month,. But, once more, this is his decision, I hope he can do it wisely, not Fomo until taking a loan without a wise decision.

_BlackStar

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Quote from: Call_Me_Guru on May 20, 2023, 10:43:59 AM

I am seeing out budgetary plans to invest exactly $90,000 in bitcoins in 2024. When others are impatient, I usually plan. The plan is to get this from my saving and loan. The action for more savings was kick started last month, it can see me through to the time of the investment when I will stop.

I don't care how you come up with an investment budget for bitcoin, but rest assured you shouldn't ignore the risk. Halving are very fundamental events for bitcoin, but however everyone here cannot fully convince others of the potential returns you will get. Believe me, bitcoin is worth for long term investment - but don't push your desire to get rich beyond your budget.

Plan everything wisely, not because of your optimism about past history - that's no guarantee. Besides, it is very possible that you will be too late to invest in bitcoin if you do so in 2024 - I mean the price of bitcoin is much lower now than what you would imagine it would be in 2024.

Stalker22

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can any one explain what and why will be after the halving event?

i know that difficulty for mining bitcoin will be doubled. but what can be done with the price of BTC and why?

The halving event in Bitcoin refers to the reduction in the block reward given to miners, not the mining difficulty. During a halving, the number of new Bitcoins created with each mined block is halved. This decrease in rewards affects the profitability for miners and the total supply of new Bitcoins entering circulation. With the reduced supply of newly minted coins, many speculate that this shortage could put pressure on the price of Bitcoin if demand remains constant or increases. Therefore, lower supply = higher price.

milewilda

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Quote from: Call_Me_Guru on May 20, 2023, 10:43:59 AM

Hearing more success stories of halving and reading from https://www.cointree.com/learn/bitcoin-success-stories/, my whole thought changed about bitcoin and halving, the time is worth putting on the calendar. The big month may be April, May or June, I can't find a site that is 100% sure of this. The thought only pointed to the fact that i missed a life time changing opportunity. I can not be well on this ever again unless I make money from bitcoin, it is then and only then that I can be happy.

I am seeing out budgetary plans to invest exactly $90,000 in bitcoins in 2024. When others are impatient, I usually plan. The plan is to get this from my saving and loan. The action for more savings was kick started last month, it can see me through to the time of the investment when I will stop.

The plan of taking loan is also there, that sum to be invested has to be completed and a business money will be realized. This is awesome and is gonna take me only 2 years to pay my loan comfortably.

Dont wait for 2024 unless if you are waiting for possible deepest possible cheap price but actually on the current price that we do have and since you would be holding for long term, then its not really that a bad point
for you to enter with that $90,000 investment. You could be able to stash out 3.310 BTC as of this writing basing up on Preev.com. If you are really that planning to hold for long periods then it wont really be that something stressful on buying in now before the price would be starting to kick in. You would really be leaving yourself back again with the train if you wouldnt really hurry on placing up yourself on the bottom.
But if you are that someone who had been waiting that $10-12k price then this is something that couldnt really be happening. Better consider 20k or 24k should be the dip if you
do want to utilize that possible maximum profitability but well everything is unsure and totally random. No one could ever know on what would happen on upcoming years to come
specially whether before or after the halving event. Everything is really ending up on a presumption.

Rruchi man

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Quote from: Call_Me_Guru on May 20, 2023, 10:43:59 AM

I am seeing out budgetary plans to invest exactly $90,000 in bitcoins in 2024. When others are impatient, I usually plan. The plan is to get this from my saving and loan. The action for more savings was kick started last month, it can see me through to the time of the investment when I will stop.

The plan of taking loan is also there, that sum to be invested has to be completed and a business money will be realized. This is awesome and is gonna take me only 2 years to pay my loan comfortably.

Bitcoin Halving is still some months away, it may seem short, but it is a long time for something like a miracle to happen. In addition to your savings, it is possible for you to run into some kind of unexpected money within this period that will leave you with enough money to put together with your savings and invest. Taking a loan may sound like a good plan but can turn out to boomerang, that should be the last resort in your book, and I think you should not consider it if you are able to meet with 75% of your target amount to invest.

GideonGono

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I also plan to make some big investment before the halving the problem is that I still couldn't save enough money to accumulate my target, that is why I decided to start small instead of forcing myself to save up and wait till I reach my target to invest in crypto.
Right now I have some small investment in alt-coins that I am trading to earn more from my capital and reinvesting it.

bakasabo

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I dont support the idea of creating a separate budget for Bitcoin halving. First of all I find it stupid to prepare for halving, raise money and wait (OP plans to invest in 2024 only). Why make research today, do planning, calculate scenarios and invest in 2024 only? What is the point of waiting? It is better to invest today and hold, than wait and do the same in 2024. So far I see no reasons to postpone investment. Because no on promise that after halving the price would grow. In addition, OP plans to take a loan to make pre-halving purchase. Loans and crypto investment is a big no for me. Even though there are many cases of success, but many people have failed with loans also.

ethereumhunter

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Quote from: DanWalker on May 21, 2023, 11:42:59 PM

Not only with bitcoin, borrowing money to invest, especially a large amount is never advisable as we never know what will happen in the future. But I also agree with the idea that success requires taking risks and trade-offs. As long as we have a plan for the worst-case scenario and we can handle them if it happens, borrowing money is not as taboo as many people fear. But if we borrow money to invest without a plan and only invest according to our feelings or imitate someone, then stop that stupid act immediately.
Depending on the situation and ability of each person, each person will have different choices, do not look at others and think that you are the same.

The important thing is that we know what we are doing by estimating the risks and sacrifices to avoid bad situations. That's why before we borrow money, we must have a clear plan so that after we get the money, we can carry out the plan properly. But most people usually forget about the plan because after getting the money, they are tempted to use it for other things unrelated to the plan. That's what we must avoid before using the money to carry out investment plans.

YUriy1991

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. You entered the market at the right time. I thought you followed his journey. and this is not much different from previous years. Yes. Dominant for April, May and June, although not 100% correct, but that is the timeframe and the right moment to enter the market, you have prepared it with a budget. Yes. The halving moment is coming soon and many big things will happen for sure. Whether this is a true story or not is certain. This story is exemplary so that it doesn't end in a wrong decision (in a hurry) and ends in vain.

Oasisman

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Quote from: Call_Me_Guru on May 20, 2023, 10:43:59 AM

The plan of taking loan is also there, that sum to be invested has to be completed and a business money will be realized. This is awesome and is gonna take me only 2 years to pay my loan comfortably.

In contrary to what everyone says about taking a loan, I can definitely say that you actually can as long as you're capable of paying the loan you have taken. Just like what you've said, you can pay it in 2 years span. The reason for taking a loan and put it in Bitcoin is to maximize the opportunity while the price is still considered affordable (at least at this current price range) and get rid of inflation that could make our dollars to depreciate it's value.
So, it's all up to your risk appetite if you can afford to maximize the opportunity or let it slip away and opt to have the minimum invest value.

MoonOfLife

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Quote from: ImThour on May 21, 2023, 01:02:48 PM

Here is some financial advice from me after being in this space for 3-4 years:

1. Do not take any loan to invest in Bitcoin or any other Cryptocurrency
2. Focus on building slowly and not instantly.
3. Only invest which you can afford to lose.
3. Greed. Don't let it be on your head.

When you get into investing, especially in a volatile market like bitcoin, it's greed. Greed is not necessarily bad, but greed needs to know when to stop. Borrowing money to invest in bitcoin is really too risky and can be considered a bad idea although the upside potential of bitcoin is huge, but there is no guarantee that it will continue to rise in the future. And you are right, instead of borrowing money to invest, we should build slowly according to our ability.

Silberman

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Quote from: Call_Me_Guru on May 20, 2023, 10:43:59 AM

Hearing more success stories of halving and reading from https://www.cointree.com/learn/bitcoin-success-stories/, my whole thought changed about bitcoin and halving, the time is worth putting on the calendar. The big month may be April, May or June, I can't find a site that is 100% sure of this. The thought only pointed to the fact that i missed a life time changing opportunity. I can not be well on this ever again unless I make money from bitcoin, it is then and only then that I can be happy.

I am seeing out budgetary plans to invest exactly $90,000 in bitcoins in 2024. When others are impatient, I usually plan. The plan is to get this from my saving and loan. The action for more savings was kick started last month, it can see me through to the time of the investment when I will stop.

The plan of taking loan is also there, that sum to be invested has to be completed and a business money will be realized. This is awesome and is gonna take me only 2 years to pay my loan comfortably.

If possible do not ask for a loan, this is nothing more but a form of leverage, except that the interest rates you will need to pay on that money could be very high, in fact the interest rates can be so high that even with the growth of bitcoin it could become really difficult for you to pay that loan if you cannot sell at the very top, so invest only what you can afford to lose, this will decrease the pressure you will face and ironically it will raise the chances you have of actually making any money during the next bull market.

DanWalker

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Quote from: ethereumhunter on May 21, 2023, 11:18:51 PM

Quote from: Solokan on May 21, 2023, 09:02:35 AM

Quote from: ethereumhunter on May 21, 2023, 07:01:53 AM

I don't know if it is a good or bad plan, but each person probably has his plan and think everything, even for the risk he has calculated and predicted what will happen. From what you have said, you are used to making good plans. If you feel you can do it, you can try it, see the short-term results, and evaluate it to see how far your plan has gone. If your plan doesn't go how you want, you must know what to do so the loan money won't go to waste.

indeed everyone in business has a different strategy as well as investing in btc, of course everyone has a different strategy.

but if the op is ready with the risk, I think buying bitcoin using borrowed money is not wrong because indeed in business it requires sacrifice and struggle.

but in my opinion the op must also take into account the investment risk from borrowed money.

but personally I don't dare to invest from loans because the price of btc fluctuates so we won't know the price of btc during the halving, but I hope that during the halving of btc the price of btc go up high.

Sometimes I can't understand why people want to take risks that may seem like very big. But we also can't suggest more if they stick with their decision and can only suggest being careful and being able to prepare the money to pay off the loan when it's due. It's better for us to play it safe by not borrowing money to invest in bitcoin because if we can't pay, we will be forced to sell the bitcoin to pay for the loan. And if that happens, we won't be able to gain any benefits. And this is what we will regret.

Not only with bitcoin, borrowing money to invest, especially a large amount is never advisable as we never know what will happen in the future. But I also agree with the idea that success requires taking risks and trade-offs. As long as we have a plan for the worst-case scenario and we can handle them if it happens, borrowing money is not as taboo as many people fear. But if we borrow money to invest without a plan and only invest according to our feelings or imitate someone, then stop that stupid act immediately.
Depending on the situation and ability of each person, each person will have different choices, do not look at others and think that you are the same.

ethereumhunter

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Quote from: Solokan on May 21, 2023, 09:02:35 AM

Quote from: ethereumhunter on May 21, 2023, 07:01:53 AM

I don't know if it is a good or bad plan, but each person probably has his plan and think everything, even for the risk he has calculated and predicted what will happen. From what you have said, you are used to making good plans. If you feel you can do it, you can try it, see the short-term results, and evaluate it to see how far your plan has gone. If your plan doesn't go how you want, you must know what to do so the loan money won't go to waste.

indeed everyone in business has a different strategy as well as investing in btc, of course everyone has a different strategy.

but if the op is ready with the risk, I think buying bitcoin using borrowed money is not wrong because indeed in business it requires sacrifice and struggle.

but in my opinion the op must also take into account the investment risk from borrowed money.

but personally I don't dare to invest from loans because the price of btc fluctuates so we won't know the price of btc during the halving, but I hope that during the halving of btc the price of btc go up high.

Sometimes I can't understand why people want to take risks that may seem like very big. But we also can't suggest more if they stick with their decision and can only suggest being careful and being able to prepare the money to pay off the loan when it's due. It's better for us to play it safe by not borrowing money to invest in bitcoin because if we can't pay, we will be forced to sell the bitcoin to pay for the loan. And if that happens, we won't be able to gain any benefits. And this is what we will regret.

ImThour

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Here is some financial advice from me after being in this space for 3-4 years:

1. Do not take any loan to invest in Bitcoin or any other Cryptocurrency
2. Focus on building slowly and not instantly.
3. Only invest which you can afford to lose.
3. Greed. Don't let it be on your head.

JoyMarsha

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You taken out loan just to invest in bitcoin just for the bull run is not really a good idea. What if the bull run didn't happen as expected or it takes too long for the bull run to happen. You can't just risk it at once in what you don't know it's future tomorrow.

$90k is a whole lot of money. Try to take out loan in what you can easily pay back at once without much stress even the bull run takes long to happen.

It's true that the bull run is happening but nobody knows the exert time it will be and what price it will skyrocket to. You better think twice before investing in what you can't repay back tomorrow. Crypto never promise us riches if we invest

Hamza2424

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The plan seems to be good a few things I think you should avoid as you are investing a large amount in my view you should already know about the risks involved. Avoid investing the whole amount at once even if you are sure that the market is dumped enough. Secondly, bro thinks again about the point of savings investment it is quite good but investing the borrowed money I think you should reconsider your decision and then proceed. The rest of the things are up to you a few suggestions from my side as a brother are as follow;

✱ Diversify your total investment amount in different time zones.
✱ Prefer DCA rather than investing the whole amount.
✱ Hold some stable funds to invest in some crisis.
✱ Be mentally prepared for every type of outcome.

imamusma

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Quote from: Synchronice on May 21, 2023, 04:54:39 AM

By the way, if you don't risk the unusual, you will not get a significant reward.

Each investor's risk tolerance is different and will not be the same for each other. You can take risks to some extent, but taking out a loan for long-term investment purposes is also not a good idea. The price of bitcoin can never be predicted even though fundamentally it has great potential to bring you commensurate profits. If you have your own budget for investing, go for it, but if you're putting together a personal budget and loans, then you have two risks at once to consider.

After all, how can you avoid the risk of defaulting on a loan if your source of income dries up, while at the same time the bitcoin price doesn't turn out the way you expected?

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