Topic: Combination of the young age correlated with Bitcoin for the future - page 2. (Read 680 times)

I caught your words on this one. If he got it in the last few years would you tell us how he got it? If he gets it using the DCA method then it can be confirmed that he is actually a rich person because in the last few years the price of BTC has been around $15k-$60k, CMIIW. I'm still confused because you said he was still in his 20s, which means how did he get that much bitcoin? Maybe if you say he is in his 30s it makes a little sense because he was at least 20 years old when Bitcoin was first released.

Firstly, he might want to revisit the initial reasons behind his Bitcoin purchase. What motivated him to enter the crypto space in the first place?

Secondly, encourage him to reflect on his life goals. What does he truly desire? Aligning investments with personal objectives can provide clarity.

Lastly, investing is a business endeavor. Remind him to approach it with a strategic mindset—analyze risks, set goals, and make decisions based on a sound business strategy.

If you want to be successful, act as a successful person.

Who who promised him, that Bitcoin is safe heaven can really give him a better tip/suggestion. Bitcoin is a safe haven in the crypto industry, and overall the crypto industry is a risky investment market. We always recommend everyone invest only the amount they can afford to lose Bitcoin is not the money doubler, if you do not have the patience and determination this market has nothing for your survival not even with Bitcoin.

There is no doubt that youth is more interested in managing their finance to a new standard and efficiency to avoid a future crisis, but OP the whole story by you seems very fake, I'm not allegating just pointing out the weakness of your story, your friend owns 4 BTC and he is not clear with what to do really? How immature that he cant make proper decisions seems like already your friend has good background money that why he invested in Bitcoin without proper education nd long term plan.

4 BTC is a very large amount, how can he collect that much BTC at the age of only 20 years, since when did he start collecting it? I suspect this story is just a fictional composition without a clear reason, someone who owns 0.1 BTC already understands how to determine their attitude towards the assets they own.
Well, your friend has 4 BTC, then why does he have to be in a dilemma, isn't he already very senior in the field of Bitcoin technology? If I had that much BTC, I would determine it depending on my monthly income. I would continue to hold it if I had a steady source of income.

I'd sell some and will keep on holding the rest. If I am still at that age, I'd enjoy the money that I'll get from selling a few from that stash. There's no need to rush and tell your friend that he should think what he wants to do with his life while he's young.

There is no need to get pressured with life and he's got a lot of bitcoins being held. That means that he can be financially free as of now and can do that much with that money.

Depending on the country you reside, if it's from a first world country then that amount may not that be much compared to the actual rich people but hey, that's still $150k so, can be said as financially free guy.

Tell you friend that Bitcoins are fixed in number. A time will come when there will be scarcity of Bitcoins, at that time the demand to acquire the Bitcoins will be at very high peak. So if you have enough Bitcoins in your wallet till that time, then imagine how high you will sell the coins at that time. So if it’s not urgent, then don’t sell these high valued Bitcoins in these cheap price. Bitcoins are atleast 10-20x more valuable than the current price if we see the future projections. So accumulate as many Bitcoins as you can, and hold it for long time.

This is a very large amount of bitcoin when converted to fiat. If I am in your friends situation, I will sell some of them and keep some for the upcoming bull run. The ones I sell will be used for personal development, business and daily expenses so that I don’t look at the one left in the wallet. Bitcoin is increasing since it was first launched, since I’m hoping and sure that it’ll continue growing in future, I would rather keep some for a later time and if time permits and I have enough funds on ground, I will still invest more to help expand my earning or business when I cash out more profit from the investment.

His decision depends on his finances. Use Bitcoin's future bull run to sell at a peak, profit, and fuel entrepreneurial ideas if his situation requires it. Cryptocurrencies are volatile, making market timing risky. If financial stability isnt a concern, long-term Bitcoin holding may be better. Why? Despite fluctuations, Bitcoin has grown significantly over time.

Yet, here's a critical point: diversification. Your advice on spreading investments is precise. Diversification is strategic and reduces risk in an unpredictable financial environment even though bitcoin is "number one". Bitcoin is powerful but subject to market fluctuations. So, whether selling high or holding long-term, balancing with other investments is crucial.

If your friend has 4 BTC, your friend should first establish his short-term and long-term financial goals. If he needs funds immediately or wishes to cover living expenses, he may consider selling a portion of his Bitcoins. If his goal is long-term and he believes in the potential growth of Bitcoin, he may choose to hold his Bitcoin. If he has financial needs or pressure to pay off debts, it may be wise to set aside some Bitcoins to meet those obligations. Although Bitcoin is over $38k in the current market the decision is ultimately your friend's, I think it's better to hold onto his Bitcoin.

Firstly I am is wonderful what his vision to life is?
What has been his financial stabilities all these while he could be at early 20s and stack such amount of Bitcoin?
Does he insights on long-term goals?

Whether I am convinced that he is on the safer side or not,  I am basically on the line to say.... Congratulations to him.
So I am on the saying that he meets with a reliable consultant where he could gain an expertised advices from an industrial and a management specialist because I don't know his aid level of acquirance relationships where numerous levels of undisputable parameters are placed before him at a choice and decision making.

Aside that, my contributions is that he should set a diversification of incomes that if his source of income aside Bitcoin is not enough, he can sell maybe some fractions of it to enable him set up his financial freedom to life towards its end.
He can also keeping accumulating, hodling and stacking as much long as .
Bitcoin is not only designed to attain financial enrichments at where its riches is not exhibited to practically solving our need. Only that we should be concious and hodl for long-term because tomorrow's would always have the best.

Again, he should live his life to the fullest with some aids of enjoyment that is nourishing to life.

I think it depends on your friend's current financial condition. If he actually needs money and hasn't worked or is already working and has the desire to start a business. So I think selling some of it later in the bull market or when BTC reaches a new Ath is something that will be really profitable. And he can start another business with these profits. But if he is already working and does not have financial difficulties, then holding onto the bitcoins he has for the long term is certainly a good step. I think your friend is lucky because he has 4 bitcoins. Because even I am currently still struggling to reach 1 btc. And it's really not an easy journey.

So the choice is based on the situation and conditions of your friend's life. And actually it would also be better if he sold some of it at the highest price later and then put it in other investment instruments with lower risk. Because it is also important for us to divide wherever we invest (investment diversification). Because it is too risky to only invest in one instrument.

Because of his young age and his big money, wouldn't it be better for him to sell a portion of it to start a business he dreams, or at least make one of his dreams that can be bought with money come true first?

Meanwhile, if your friend needs income for his future needs, he could develop several businesses since he has the opportunity to start it. I believe it wouldn't immediately spend all of his BTC, so he can still HODL to anticipate other bullish moments and also as a financial backup if something sudden happens, like a business collapsing or a family member facing a crisis.

Using some for current and future needs, and the rest in HODL, is my suggestion. Investing in the future can also involve taking courses or training to gain knowledge about finance or economics. That would be better.

Afaik, people experiencing mental dilemmas are those on the brink of life and death due to their economic conditions, not young individuals with 4 BTC.

Someone is his early 20s having 4 BTC(120K USD)? I find it hard to believe... Would you mind posting any legit proof about the existence of your "friend" and his "4 BTC"?
How did your "friend" managed to gather 4 BTC? Did his parents gave him the BTC, when he was really young and the BTC price was really low? Does he run some kind of crypto business(or a crypto scam)?
This is a typical "first world problem". There are people with actual problems in the real world. Being in a "mental dilemma" about selling or keeping 4 BTC isn't a serious problem at all. Having lots of money in an early age is a recipe for disaster. I hope that your so called "friend" doesn't waste the money on girls and weed/alcohol/drugs/gambling.

Their is some certain things you will do when you see money, I believe what your friend need is a legal advice and how to utilise his money, if I should have a four bitcoin [4btc] I will not depart in having bitcoins but I will use at least two bitcoin [2btc] for development of infrastructure while I will invest two bitcoin like hold two bitcoin because of future bullrun, because bitcoin  Increases every day and I believe that the increment of bitcoin is something that can occur now and also fall now, so the market of bitcoin is baseless and unpredictable, so you can't continue holding your coin without having manual project that is physical

from the first look of this, it's a fabricated story and I must say that you need to understand that the fact that you're a newbie in the forum speaks a lot of you being inexperience and when next you bring up a thread into the forum, you need to first understand that people will read through your writeup and a fabricated story is very easy to dictate most especially when it is coming from an inexperience person.

Your friend owns four bitcoin in his early twenties and and he is currently in his early twenties and his confused on what I do with his bitcoin? How was he able to accumulate that much bitcoin within a small interval of time and suddenly great confused regarding what to do.

20 years old is still a young age, and of course still has long hopes and goals and I am amazed at your friend at a young age but already has 4 bitcoins. I think selling bitcoin during a bull run is a good way and after selling you can buy again during a bear market, I think that's the way to overcome your dilemma friend. but of course there are various methods of investing in BTC, there are those who sell during the bull run and there are also those who invest for the long term, for example for 10 years or more, for example, like the person who bought BTC in 2011 or 2010 and has not sold it until now because he knows the potential BTC in the future even during the bull run in 2021, was not sold because they saw the long-term potential of BTC considering the limited supply of BTC. So I think friends, you don't need to be in a dilemma, just be yourself and if you really want to sell BTC during the bull run, that's fine, but don't regret it if in the future the price of BTC is higher than now.

and you need to remember that investment is looking for profit and if you want big profits you usually have to be patient and wait a long time but if you want small profits it certainly doesn't take that long. Of course, the decision is up to your friend, let him choose according to his wishes.

I don't understand the comment " live his life". Living his life does it mean leaving his parents and starting his life independently or does he have other plans that will make him live more comfortably? It all depends on what he intends to use the money for. Diversifying his income to another sector will be a good reason to sell some part of his coin. If he discovers another investment that can become an alternative source of income will be a welcome development. People are that age suffer from youthful exuberance and peer influence. He shouldn't sell the coins because he wants to use them to satisfy his lust for material pleasure. Maybe he wants to buy a modern car, designer clothing, or go on vacation or other pleasurable activities that will not bring in any profit. In summary, if he wants to sell the coin to reinvest it that's okay, but if it is just for pleasure or for another unimportant purpose, he should keep hodling.

OP has already clarified that the mental dilemma he is referring to is that his friend is confused about what to do with the Bitcoin he owns. He is facing indecision on whether to sell his coin in this bull run and use it to solve an undisclosed issue or keep it for it to appreciate further in the future.  It is also worth noting that money is not the total solution to misery. It will only solve the problems of the poor, I am sure that there are many miserable billionaires.

Your friend owning 4BTC at this age is fantastic, but using the work to be in a mental dilemma sounds really strange to me. Your friend is richer than millions of people on the planet today; why is he in such a dilemma when he is comfortably wealthy at his age?

If I were him, I would sell some if it was truly necessary to make my life more comfortable. Selling everything is not a good idea right now. He is in his early twenties; this is the age when money can easily persuade him to spend lavishly and live an extravagant life. For the time being, he should only sell to buy or use it for what is important to him, or better yet, find a way to make something productive out of the bitcoin he sells.

continue to work and save the 4 btc, its good amount but not a get rich amount enough in the next bullrun i think,the next one yes, but could be this one if he want to risk it in alts.

If a bull market occurs in the next year or 2025 and the price of Bitcoin can reach above $100k, he can sell his 2 BTC and enjoy the profit. But only spend his profits on things he needs. Just buy things that can help him get better.

After he finished purchasing his items, he should still have some money left. He can use the remaining money to invest in Bitcoin again because after reaching its new ATH price, Bitcoin's price can fall to its lowest price. We already saw what happened after Bitcoin touched $69k as Bitcoin's last ATH. The price slowly decreased and finally reached $17k.

That's where he can buy Bitcoin again in the hope that at that time, he can buy more than 2 BTC with the remaining money. And when the market is bearish, he can start investing in Bitcoin again while accumulating more Bitcoin. But he can continue to hold Bitcoin even though, at its new ATH, the price of Bitcoin can reach above $100k. At least he should have his own plan.