Topic: Combination of the young age correlated with Bitcoin for the future - page 3. (Read 680 times)

Basically he needs funds to live his life perfectly and since he has 4 BTC that is relatively okay to carry him out of the poor people’s category. I would advice him to keep hodling and also he can invest a good amount in order to make profit from APR interest just like the Bitget Shark fin product.

It depends on a holder's situations, if a holder situation are as such that he can afford his expenses then there is no need to take out his money but he should still leave his amount until 2024. The guy as keep saved four bitcoin so I think he bought these bitcoin during bear season so when halving arises he will definitely find good results from it. Other thing is that a person should think about his profit and better way is that take profit during next Bull run and then either leave your some bitcoin for further years or sell all your bitcoin to buy again during next bear run. As he has saved bitcoin from the age of 20 then I think that he will be a successful investor in future because he is learning all the matters of trading and investment from an early age.

I don't know in what situation he is means I don't know about his life. But he is young and he has whole life ahead. And in my point of he should HODL and wait.

I have an Idea if he is thinking to sell now so now the value of 4 Bitcoin is almost $150000. So I think he should wait and Bitcoin will touch $100000 so he can sell 1.5 Bitcoins at that time which will be equal to the current price.

By the this is personal decision so he can wait or he can sell it. We can give only Ideas and he know better what he should do?
So he should think by himself and what is better for him. We think according to our minds and he will think according to his mind. So just give him Ideas and give him time to think about it.

Not sure if I should believe this story but regardless if this is tru or not, I don't see why he should be in dilemma on what to do with his Bitcoin. At his young age, 4btc is a pretty huge amount of money.
If he's uncertain what will the price of Bitcoin be in the future, he can use some of it to start his own business so he'll have another source of income where he wouldn't have to work for others. And it could be his main source for a long run. He can both continue his investment in Bitcoin while having his own business as his main source of income, and enjoy with some of his profit. He's still young and can still learn a lot in life.

He should continues to work and stack as it'll be more beneficial to him then selling and wasting the money on things that won't have a future price appreciation. If he isn't in need of large sum of money that demands him to sell his investment, why is he considering selling. Your friend is still young so he should use this opportunity to keep on stacking and in the future he'll thank himself for taking this decision instead of wasting his money on wants that aren't necessary in life.

If he's scared of the bear market that'll follow after the bull market comes then he can delete his wallet from his device so he doesn't see the value of his Bitcoin dropping but keep on stacking.The price of Bitcoin is programmed to always increase in value after the halving and let say the price doesn't increase by much after some certain numbers of the halving still by hodling he should be in profits that would be better than the price he would have sold if he does that currently.

He can consider Bitcoin as his retirement plans and keep stacking bitcoin to be sold when he has reach an older year that he can no longer work for money then he'll sell his Bitcoin and live the comfortable life he's dreaming about having now. He shouldn't make the mistake many people make by enjoying their youthful years while they don't plan for future years.

Bitcoin and time presents a unique challenge for people. Sure, if you are willing to hold Bitcoin for 8 years or more it is extremely likely that it will benefit you financially. However, people don’t live forever and things can happen. So owning Bitcoin is a constant game of wanting more wealth later or to live better now. Make a choice you won’t regret.

If he is in doubt, why not sell part of his holdings so that he can enjoy some of his profit while he is still invested on Bitcoin that can generate him profit when bull run occur. It’s not necessary to sold all of his holding now that he is confused on his choice since he holding huge amount already even just part of it can give him a good start on his teenager life.

I’m on this situation before but the price of Bitcoin is just 10K. I’m very happy to take profit some which I use to purchase my tools necessary for my work. Now I earn profit using tpit which I use to purchase back Bitcoin.

4 BTC is a very decent amount but not enough to actually cover one's life forever, not at the current price. Lucky for him, he doesn't need to sell all BTC at once, so it's not really a dilemma. I think the op's friend should explore what he wants to do with his life, what kind of career he wants to pursue. Bitcoin can be a safety net, so that he doesn't need to worry if he's running short on rent, is fired from his job, or really wants to quit his job without having found a different one. It's okay to spend a little to treat oneself and one's loved ones. But early 20s is a great time to figure out what one wants from life, and it would be a shame not to do it just because of having some money from Bitcoin.

Bitcoin owners, especially young ones, are often in the same situation as your friend. Take a look at this: Bitcoin is often called a "safe haven," but it can go up and down in value. It can go up or down in value depending on many things that are out of a person's control. Not only should you think about the money you could make, but you should also think about your life goals and your ability to pay your bills.

First, if I were him, I'd check my bank account to see if I have enough cash saved to cover my current needs. Have I made a variety of other investments? Reliance on a single asset type, even one as promising as Bitcoin, is risky, so keep that in mind. Its important to diversify.

Also, think about the psychological side of it. "HODLing" during times of high volatility can cause a lot of stress. Finding a balance between cash goals and mental health is very important. Long-term goals, not just short-term gains, should guide the choice in the end. Is he saving for a certain reason, or is this purchase part of a bigger plan for his money? The answers to these questions might help him make a choice more than just guessing what the market will do.

Well, I find it hard to believe that your friend has that much bitcoin and still doesn't know what he will do with it. Anyway, maybe if the next bull run hits, he can sell some of the bitcoin, not all, because it is good if he lets the other bitcoin be invested and keeps holding onto it. After selling some of the assets, he can start a business to circulate the money. As he is in his early 20s, I assume that he knows even a little about business or he knows what business he wants or has in mind. And if your friend wants to be in line with bitcoin, then try another way to earn bitcoin with the use of his assets, which is bitcoin, trading, staking—name it, there are a lot of options out there. He is lucky because he has that much bitcoin at his young age. I just hope he will manage to grow it and spend it well.

Most probably he in a state of mental dilemma because he is confused whether to take the profits for its present use and enjoy life to the fullest or just stack and use it to secure his future as well as his family. But if I were in his shoe, if he has sufficient amount to spend at the present, then it will be better to leave his bitcoin in his portfolio. That way, if sudden emergency cases arise, he can use his bitcoin for that.

However, selling a little portion is not that bad as long as your intention to use it is reasonable. But if it means using it for all out partying just like what his common ages are doing, then I would never advise to sell even a portion of it. Save it for the future instead.

This is the reason why we should learn to take some research first before trying to indulge in an investment, at least you will be guided on what to do with your bitcoin most especially in the future. For me, its not bad to sell a portion of his bitcoin in the upcoming bull run so he can also enjoy the profits of his investment, that's part of self-rewarding. But if he wants to take advantage of the opportunities while he is young and accumulate and stack more of it so he can benefit it when the time comes that he wants to build his own family, then that could be more favorable for him.

Bitcoin is a highly valuable investment so one should utilize it when its only really needed, otherwise just save it for future retirement which probably by that time, its value will grow 5x or 10x from the amount you bought it.

My friend has accumulated Bitcoin over the last few years and stacked it accordingly hard

Yes, my friend actually has knowledge about Bitcoin as do I.
Only I don't have that many BTC :-)

I think your last two sentences are actually true in life and I think that's the whole point.
He's "only" in his early 20s and you just feel like you're missing out on life and have to experience everything at the same time and so on.
It's like that feeling of FOMO just in life and when you have that amount of money in the back of your mind it's very tempting to sell.

But I think continuing to HODL Bitcoin over the coming years will probably be the best decision ever for his Lifetime.

Thank you for the interaction!

some kids are just lucky to have gotten some BTC while the price was just very affordable. it's however unbelievable that he doesn't know what to do with his life when he has the privilege of doing what he wants to do. he is young and has money.

he could just wait til the price goes $100k and just pursue a degree for now.  financial independence can actually make a person think clearly but if he is unstable despite being young and having no huge responsibility, he needs a girl.

Having 4 bitcoins at a young age is very good but of course during the collection of 4 bitcoins he has I think he is not that weak and confused when determining life goals because after all he must also realize that collecting 4 btc is not something easy unless he is born into a rich family.
If he comes from a simple family that has an economic situation that is not too good, collecting 4 bitcoins is one of the big things and he can already control his emotions and money management well so it is something silly if he still says he is confused about the future because I think when collecting the 4 btc he currently has, he already knows from the beginning what his goals are and the economic management he has.

If I was your friend, I'd sell half, start a small business, and keep the other half and continue to add something to the pot in the coming years. That's what I personally did, and it's giving me a lot of financial benefits and freedom that I wouldn't get on any other investments out there. The thought of going broke never crossed my mind again after selling some of the coins I have and establishing my printing business, and I still maintain my high-paying job since I don't like not doing anything for the whole day.

Your friend should also have an excellent self-control in order to make sure that he'll not end up spending the proceeds of his sale into something unnecessary. Even if he has already a good chunk on his disposal, if he doesn't know how to control his spending, it still wouldn't be something that will work for him if he does not take the initiative for it.

I feel this is the most important part of the conversation. I’m not going to question the authenticity of this story, I believe everyone can put two and two together and come to their own conclusions. So you say your friend is in his early 20s and somehow has 4 bitcoins (approximately $148,765 today) in his possession. That’s a lot of money but I think he is way to young to be thinking about retirement. Depending on where he resides and his lifestyle, there is a possibility he could lavish all the money in a few years. My advice would be for him to explore other ways to increase his income, he could start a business or invest in a startup. He’s already ahead of many of his peers, he should not lose his advantage trying to impress people on instagram.

Does he have a job? 'Cause if he's thinking of spending the bitcoin for the bills, then no. Do something constructive, useful.

If he's thinking of buying himself a car, or a house with the bitcoin (i.e., he might not want to live with his parents), then it's up to him to weight the tradeoffs. If he's held 4 BTC up until this point, then chances are he knows what he owns. I believe he knows he doesn't need to sell everything, at least I wouldn't do that. Maybe a couple of thousands, and the rest saved for the future.

• He didn't buy Bitcoin before 2015 when it was cheap, but instead accumulated over the past couple of years. This means that he has a good source of income to live on and invest with as well.
• He doesn't plan to sell bitcoins inorder to reinvest into something else. The phrase "live his life" sounds a lot like satisfying personal indulgence.

My advice will be to not sell his bitcoins and even if he does sell them, it will be to short his coins; selling at the top and buying back when the price drops. But he should not sell without any investment plan.

He doesn't even have to keep stacking bitcoins, there are other investments he can explore if he doesn't want to go all into Bitcoin. He can also steadily take out some from his income to live his life, without liquidating his principal investment.

The decision to sell the bitcoin you own is actually personal, you can't influence people not to sell or buy, you can only advise them whether they really want to sell the bitcoin they are currently holding!! when you don't need money urgently, you shouldn't sell the bitcoin you have, you should be able to restrain your desire to exchange the bitcoin you have for fiat, but if you do have a price target (such as selling the bitcoin you are holding in the next bullish) then you can freely sell the bitcoin, all the decisions you make must be on target but remember not to be complacent when you are still young.