Topic: Buy the DIP, and HODL! - page 243. (Read 136070 times)

Yeah it maybe a big hindrance to someone who earns low but still its good that nothing. They could able to start with small amount they have on hand and its up for them on how they can maximize their bitcoin investment. For sure there would be a lot of ways for low income earning people to get extra funds so they can possibly maximize their bitcoin investment. I know its quiet hard to budget our funds if we have small amount but if a person is dedicated to his visions and have a big dream to get a better life in future for sure he will work to have extra funds to use it for their investments. I don't know what that person think about you quoted above to invest for trading in a while since he just putting you on more more riskier situation. Short term trading will never give any guarantee to earn some extra profit. So what's best for that if you have funds better save it for a while and if you think its enough and you are confident to buy bitcoin for your investment then do it since there's no better option for this since I think this is more better option rather than trying our luck on something that bring us a huge risk.


You can start to invest with bitcoin at any amount you want although it maybe not enough to spend only small amount but if you are consistent with your accumulation for sure those amount you investment will became a huge figure. So its important to have consistency since this could bring good future to anyone.

I think you are getting it all wrong,whether someone have a salary below $50 or higher than the said amount what really matter is how ready such person is to invest, trading is risky for a new investor that does not understand trading, what if in the course of trading he loses the fund for the investment, how will he go about it, that's to say he has to replan to start aftesh, although I don't support anyone trying to own btc at all cost, thats to say that such person can do anything to own btc, but I believe in little begining, most importantly a potential investor earnings should be divided, all his earnings should not go for investment alone, since the decision to invest has been made already i don't think there is any need of wasting further time to invest, long-term is a decision and it's not for everyone, it is only for those who are ready to partake in what awaits long-term hodlers.

That's true, Expecially those that are using Leverages, they are only putting their funds at risk honestly. Because if market price endup going to the other direction, they will only get themselves liquidated and same wasting some relevant resources, though alot of people do earn through trading , after passing through alot of losses and difficulties, during their processing of learning and gathering of knowledge on how trading works.

Because without proper knowledge going into trading is like you have decided to throw away your hard earn funds, because you are just only putting it at risk. That's why I don't usually recommend trading to anyone, instead is better to just accumulate and hodl, and when you gotten to your goal of accumulation you can take some  profit from your holding. Though it may take you to time before getting to a point of having enough Bitcoin, but still worth it because you know that no matter what you won't get liquidated and aslong is Bitcoin yah holding there won't be any need of panky .
 

Having such low income could become a big hindrance to buying bitcoin especially for older persons with more expenses and even trying to reduce expense to invest might not even be a good idea cause you also need to consider having an emergency fund and the income would not be able to cater for both,
Trading is still not the best option considering the time it would take to learn and master the skill, the best option for such persons would be to find extra sources of Income to be able to buy bitcoin and have more discretionary income to spare to buying bitcoin, why i recommend this is cause its the safest option that doesn't involve having to risk the income you have.

While Im not trying to say that a person earning 50$ weekly cannot invest in bitcoin, the point is that you can't invest in bitcoin or its not advisable to invest in bitcoin if your income is not enough to cater for your expense and emergency funds or savings, the best option would be to increase your income.

This is common thing people like and to bad they always go with idea to go on short term trading or meme coin for thinking that they can easily get rich with it while the fact that they failed to realized that what they are trying to go thru more riskier situation. They are blinded with the idea that they can earn a lot of money but failed to realize that taking those option is not really good for them especially if they are beginners in the field.

There's really no quick process to get rich and hopefully people would realize that they need to go thru a lot of challenges and also select what's best for them to do. Since it doesn't mean always that if they take the risk they are taking a chance to earn a lot of money and with that mindset instead they can earn they get broke for always testing out the waters.

Then they should not get pressured about their investment on bitcoin since it will just create something negative effect to them and they might always think that theirs a deadline for something and they need to follow certain guys since they are successful already. People need to focus on their own development since its more important that they can learn a lot of things about bitcoin since especially those helpful methods they can used and for this for sure every decision they do would be beneficial for them an they should try to go out on any possible disturbance so their investment would became more smooth sailing.

I think JJG has already explained this. It's like discretionary income
The leftovers after basic needs are catered for.
The essence of using such money is to prevent emotions been swayed by the market movement or manipulation that would lead to selling in a loss.
Holding is easy to say but harder to implement
Many can't even hold in a bullish market not to mention a bearish one.
But investing a money you can do without can help mitigate this to some extent.

That is not actually the right way to go about it because I never said daily
I said spread across the days of a month.
And even daily is possible for a low income earner.Binance uses a convert function that allows the buying of $0.01Usdt of Bitcoin if am not mistaken
That's $0.3 a month which is nothing
So it's quite possible.

They usually believe in get rich schemes so that's one thing that hold them back.
This is also why they usually fall to scams and MMM.
They usually impatient of their situation that they want to get out quick.
I guess it just take seizing a good opportunity to leave your current social status. 

You are getting it all wrong like I already mentioned you don't really need to have a bag full of money before you will realize that you are financially enough to start accumulating Bitcoin, actually everything is all about planning and determination because if you are really determine to start investing on Bitcoin even when you are not financially stable you can still meet up accumulating either on a weekly or monthly basis and still remain sustainable.

The reason why I'm saying this is because I know of a friend who started accumulation Bitcoin when he doesn't have any steady source of income but with the little that was coming up he was able to strategize himself in such a way that he will be accumulating as little as he can afford on weekly basis and over time he could not believe the amount of Bitcoin he had already accumulated, so actually is only those who are not ready to invest that always want to wait till they get rich before they will be convinced to start accumulating Bitcoin.

I think it's quite natural for someone to want to become rich in an instant but that's unlikely to happen.
Those who have low finances must be able to save on their living expenses in the next 2 or 5 years. In the sense that the save are made only to invest in bitcoin and that is one way for them to build a path to achieve success or change their lives in the next few years.

There is no quick process to become rich, of course everything takes time, be it 5 years or 20 years and it all depends on their desire to change their fate in the future.

In investing in bitcoin there is pressure to be successful because without pressure we will not focus on our goals. By pressure, I mean we have to be able to buy regularly every week, whether it's $10 or depending on the finances they have. Because I saw in a previous post that in Africa many companies pay employees $50 per month, so it all depends on their financial ability to invest either $10 per month or per week.

The reason that we want to make UTXOs that are a minimum of $500 to $1k is not ONLY to save on the transaction fees that might happen during that particular transaction to move the funds from the exchange to the private wallet, but it is also to lessen the chances that we are going to engage in a practice that ends up resulting in us having a bunch of small UTXOs that from time to time (or even permanently) become unspendable and/or uneconomical to spend at some later date that we might not even know in the future whether we might want to move our coins again in the near future, or perhaps not for 4-10 years or more down the road, so we should not want to be getting stuck with a bunch of small UTXOs when we could have had engaged in better practices to avoid putting ourselves into such a situation.   


Thanks for highlighting that point Sim_card.   

I had sent an smerit to Reredmi896 and I had not even realized that he was talking about trading rather than my liking the idea that came from his post in regards to building up some kind of a cushion in terms of something like cash prior to overly investing when the income might be so low there can be needs for building up some cash and then strategically investing, but I was thinking about cash in that regard, and not fucking around with trading.. which surely Reredmi896 seemed to be talking about trading.. .. which seems like a strategy that is not going to really help, even with poor people..

Poor people may well never get ahead if they are fucking around too much with trading and gambling rather than establishing more of a building kind of an approach and also an approach that has measured practicalities.. and yeah sure there might be some risk taking that is in there too. .but surely it should be with very small portions of their investment stash, such as only 10% of their BTC value.. without cheating in regards to allowing their shitcoins, trading or whatever to siphon off their BTC value with the passage of time.

Many of us likely recognize a certain amount of temptation that comes to people with low finances to figure out other ways to earn money, so I don't necessarily want to discourage that, so there could be some possibilities in which some folks will end up resorting to trading/gambling/shitcoins when they might not have job and/or employment opportunities, and it might not even be clear if those are the better choices since it tends to be quite difficult to build wealth from trading rather than figuring out more traditional ways to try to earn a somewhat steady income when it might be possible to find ways to accomplish that.


"Spare money" is another way of saying discretionary income, so "spare money" is the proper term.

If you do not have spare money, then you should not be investing.

Sure you can still prioritize bitcoin investment from your salary.. but you better fucking make sure that it is spare money, otherwise, you are investing money that you need or that you might need soon.

I don't support the idea of investing on daily basis, I don't know how effective it will be for those doing it but for me it doesn't make sense, firstly there is a very big possiblity that the price one bought yesterday will still be the same price region that bitcoin will be today. The best way is to DCA on weekly basis or on monthly basis, that's a bit more effective than daily basis. There is a big possiblity of getting a reasonable price difference when we invest in weekly or monthly basis. Secondly when someone keep investing on daily basis, you end up paying more exchanges fees, it might really look small, but when added together you realize that you have spent huge amount on exchange charges. That being said anyone decaying on daily basis should switch from it. If you add those fees you are spending on exchange charges on daily basis, you will be able to get more stash of bitcoin if done on weekly or monthly basis.

When people mention emotions, honestly speaking I don’t understand the emotion attach to bitcoin investment or are they’re referring to bitcoin price movement which is not suppose to be a problem rather an opportunity for investors to accumulate bitcoin. Concerning the market dip, anyone can use any strategy their finance can withstand but it’s best an investor invest rather than waiting for the dip mostly newbies who have not gotten much should not wait but start as soon as possible.


You don’t invest with spare money, it sound as a disrespect or lack of trust from my view cause when referring something as spare it’s considered as a leftover or not so important but rather you invest with your satisfied amount for example, each time I receive my monthly pay I make sure bitcoin budget is involve cause bitcoin investment is so valuable so I can’t afford to miss the date set for accumulating sometimes I use my monthly bonus to accumulate cause I know I can hold for long and still plan ahead, if you’re referring your accumulating money as a spare amount you’re actually trying to say you can miss the date set cause what if there’s no spare money during that month.

A far journey start with a step. So it is in investing not just investing also starting a business of your own. In as much as, one can start little the little must be maintained overtime, not exhausting and suitable to the individual.

DCAing is the right approach, but the allocating amount to be used in buying weekly, quarterly or monthly should be affordable and easy to Carter for. Discard any idea of gambling with Bitcoin, just buy, accumulate and hold with a long term view. And I always lay emphasis on having a Target, this will keep you in a position of continual journey and interest in a valuable asset like Bitcoin.

Actually one thing you should know about Bitcoin investment is that if you should wait till you get the amount of money you want in your bank account before investing you could end up not investing at all because the more you are waiting to get rich first that's actually the more expenses are compounding, although I no that you have your own decision to make but waiting to be completely financially stable could possibly take you a very long time before you can start accumulating Bitcoin.

You don't have to get huge amount of money before you can start investing on Bitcoin, however is not like everyone who are into Bitcoin now have a bank stored with huge amount of money but instead they started from somewhere and before they realize they had already gotten a good amount of Bitcoin on their portfolio, so I would advised you start from little through the use of DCA strategy and with time and consistency you could be surprised with how far you will go on your investment.

Your narration here sounds more of gambling and it can be misleading to other newbie who may want to invest into Bitcoin, and besides the concept of this thread is not talking about trading but buying Bitcoin and hodling for a longer period of time like 4-10 years and above. I still wonder why most people sees Bitcoin investment as a get rich quick you can't compare the profit you will make when  you invest in short term than when you invest for long term the difference is much .
You shouldn't be talking about trading here but how investors can buy more Bitcoin at the same time keep on hodling for a longer period of time because Bitcoin investment is for the future not to be trade or sell in a year, two, or three because is same as gambling.

The right method is to set aside an amount base on your own discretionary income after keeping your reserve and emergency fund incase there is any unforeseen circumstances that may occur so it won't affect you from selling out your holding, you can also use the DCA strategy which helps you accumulate more Bitcoin to your portfolio little by little either weekly or monthly.
It is not advisable and short sighted seeing or approaching Bitcoin as a tradable coin.

Trading is the worst option on how to increase his income. Trading is more of gambling and it is not advisable for any investor to see trading as a means to increase his bitcoin investment, because he will end up the opposite way and lose all that he have, which will lead to regret and frustration for him to continue his bitcoin journey. I don't know why newbies think that trading is very easy and you can double your bitcoin with trading, which is against this thread, and how will he gets his emergency funds through trading. . Trading are for short-term profits and that is why it does not suit into using it for long term strategy because you are always selling. What if you sell and you are unable to buy back cheaper, the little gain that you made becomes useless.

Long term investment is what we are talking about and how a new investor who wants to invest in bitcoin for 4- 10yrs and above should go about. When you are investing in a long term, you don't sell but only buy regularly to increase your bitcoin portfolio through regular DCA weekly or monthly. The best way anyone with a small income can invest in bitcoin, is for him to find another means of income, so that he can have a discretionary income in which he can use to start up his bitcoin investment by buying every week based on his discretionary income, and so he can also build his emergency funds from there.

This is a frustrating but true fact. Poverty deters people from investing in Bitcoin. They think investing in Bitcoin is too difficult and expensive. They think saving in poverty will not be responsive to them. But they don't know it, the money invested weekly or monthly in Bitcoin can one day change their life. There is no need to set aside a lot of money, setting aside a little money and saving regularly can greatly improve their quality of life. In this case I will blame their lack of knowledge.

Suppose a person earns $100, after providing for his family, if he regularly saves $10 a month in bitcoins for 10 years. After 10 years his savings is 10×12×10 = $1200. Since the value of Bitcoin is always increasing.

After 10 years his accumulated bitcoins will be $1200+. With that money he can easily improve his life standard and he can build a business with this money if he wants. He will be able to earn much more money than before from the business establishment. Thus a poor person can make himself self-sufficient by investing regularly in Bitcoins.

Isn't it better for people like that who have a salary below $50 to collect money first before buying BTC. Or at least it is better to invest in trading with a short term. And if there is more profit from trading can be saved to meet the target, if you feel the target has been reached you will be ready to start long-term investment by buying BTC with the DCA method. Because if you push too hard it will be very risky, better slowly but surely,

I always remember a lot of sayings now - improve your income first, when you want to increase your income then improve your skills so that money will be easier to get, that's how it is.

Why think about investing if the finance is still unstable this will be a problem in the middle of the road and until whenever your investment will not run smoothly, but it is true that when they have earned additional income or a sufficient monthly salary then they can set aside to invest in bitcoin.

To anyone, never feel late buying bitcoin whenever you have money you can buy and make a long-term investment, bitcoin always has a bullish / bearish cycle there must be a time when bitcoin crashes again so they can take advantage of this opportunity, the important thing now is how to increase finance with the skills you have that will certainly be a source of income.

with those who cannot manage their finances well, it is clear that they can experience financial difficulties even though they already have sufficient income. let's say that saving is one of the important things in life, of course as much as possible we must be able to set aside money to save with a good goal, namely for our own future, because our own future is in our own control. If we haven't been able to manage our finances before, we might have difficulties in the future. but if we can manage our finances well, we can set aside some money for savings, and of course that is a good thing. Especially if we can invest some of the income we earn, I think that is included in good management, but don't Until investing makes us unable to manage our finances well, that's not the right goal.

When we make investments, of course we must have a good understanding, including the strategies that must be used for the investments made. I think the strategy that might be implemented should be long-term, in other words, don't do it as a joke. With the DCA strategy itself, I think it can be done once a month if finances are optimal or stable, with needs that are always met and there is leftover that can be used to carry out the DCA strategy.

If you have to advise someone in the matter of investment, it should be avoided to be aggressive initially because he may jump into investing according to your advice but he may have excessively reduced the daily expenses on himself or his family. The monthly or weekly investment target is to be taken by the investor based on the disposable income. Also he has to keep extra floating cash from his income to spend during emergency. He should keep this money separately from his monthly salary. This is in addition to investment funds. It is important for you to have floating cash to protect investment funds for the future. I think that after an investor starts his investment as an independent in the initial stage, especially in BTC, the process of gradually increasing his investment should be high since investment lengthening and stack size increase over time.