Do you still advised more buy and store? - page 11.

Odusko

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am sceptical about it especially now that the price has no direction. If can afford storing every month in the long run I may realise half of the Bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in the price? Or I should buy and store it? Over to you

First, you don't need to spend all your entire monthly earnings on purchasing Bitcoin since that will be too risky for you to do and also you should try as much as possible to invest only the amount you can afford to lose into Bitcoin this is so because there is no certainty with bitcoin price and with that anything can happen that will affect your entire portfolio for a long time before the market pick again, but if you have some change that you can afford to put aside for a while, bitcoin then become the best choice in doing that since its price is stable and has long term potential to yield interest.
Aside from investing your spare money into Bitcoin any other form of investment that involves you taking a financial risk will not be advisable.

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Quote from: bitzizzix on April 25, 2023, 04:42:59 AM

As long as you own or hold bitcoin for the long term everything will be fine and will always be profitable, and if you want to buy every month for a fraction of your salary it is a very good option as long as the price of bitcoin is affordable for you to buy it in small amount.
but you also have to prioritize your needs and provide spare money for your family and buying bitcoins must be within your means even in small amounts and always use money that you can afford to lose and don't force it if it's not enough, but you will also add or buy more when You earn unexpected money. Because whatever you do to the best of your ability and as long as you own bitcoins and keep them for the long term, bitcoins will always be profitable and your effort and patience in doing so will pay off with happiness in the future.

That is exactly what I do and so far it has been working out great for me without a doubt. Too many people worry about what's going on but the reality is that if you keep making a profit like that and if you keep it going then eventually you are going to end up with a great return. Just keep on putting a small part of your salary into bitcoin, even if it is only 50 bucks, which is a very small amount, that is still better than zero.

And in 10 years you would have invested 6 thousand dollars, that is just what you have invested, imagine the increase in the bitcoin price by that time, I imagine that would be somewhere along the lines of above 50k, close to 100k. That is a lot of money for everyone in the world aside from a few rich person. So keep doing it no matter what.

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Quote from: Learn Bitcoin on April 10, 2023, 01:30:54 PM

The best method ever is DCA. Start Doing DCA with whatever you can afford to lose. Let's say you can buy $10 a week. Go on. The price was never stable, and it won't be stable. If you can invest $50 a week, Start Accumulating from this week. But, If your income is meager and you can afford as low as $10 a week. I would advise gathering them and buying $40-$50 monthly. It will reduce the fee for the transaction.

It is unsurprising that DCA is a good and straightforward investment technique. Even though many people claim that this is their finest strategy, it is better to improve on it. Your assets are safe with this method of investing, but you won't make much money because it is just based on time intervals. So, if you know how to assess the market, apply it to your DCA; this way, you will make a large ROI and will be able to attain your ideal profit in a short period of time.

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Quote from: Twentyonepaylots on April 25, 2023, 04:06:19 AM

Quote from: LastKiss on April 23, 2023, 05:31:23 AM

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Just spend a few percent of your salary to buy Bitcoin, it's not a problem as long as your family didn't get the negative effect of what you do. Buying Bitcoin every month just like you're doing DCA strategy which is very good to do against the volatility of the Bitcoin market.

Agreed, it is a great strategy as long as you are capable of doing it without compromising the most important and essential allocation of your salary. We should always put importance first with what is needed. I also agree that you can try to allocate small, fixed percentage to invest on bitcoin, so it won't really affect your other financial responsibilities. This could be a great investment for you to hold so that you can have some profit in the long term since bitcoin has been proven to have a great potential based on its past movements.

As long as you own or hold bitcoin for the long term everything will be fine and will always be profitable, and if you want to buy every month for a fraction of your salary it is a very good option as long as the price of bitcoin is affordable for you to buy it in small amount.
but you also have to prioritize your needs and provide spare money for your family and buying bitcoins must be within your means even in small amounts and always use money that you can afford to lose and don't force it if it's not enough, but you will also add or buy more when You earn unexpected money. Because whatever you do to the best of your ability and as long as you own bitcoins and keep them for the long term, bitcoins will always be profitable and your effort and patience in doing so will pay off with happiness in the future.

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction.

It’s better you take care of your family responsibilities first, i believe that’s also a great investment, you can’t be investing in bitcoin when you are having other challenges that you need money to solve, just take care of family responsibilities you are having now, if you can’t invest now, then you can invest later no late comer in bitcoin investment, and you don’t have to starve yourself because you want to invest.

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Since bear market started, whenever am investing in bitcoin, I don’t care about what people say either bitcoin will dump or pump, whenever am having money I will just buy at the current market price, since my intention is to hold for long term, I don’t care about the market movement. Since you are also planning to hold for long term I believe it’s not bad if you can be buying it at current market price every month, don’t be surprised you might not see bitcoin price again at the price you are expecting it.

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Quote from: LastKiss on April 23, 2023, 05:31:23 AM

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Just spend a few percent of your salary to buy Bitcoin, it's not a problem as long as your family didn't get the negative effect of what you do. Buying Bitcoin every month just like you're doing DCA strategy which is very good to do against the volatility of the Bitcoin market.

Agreed, it is a great strategy as long as you are capable of doing it without compromising the most important and essential allocation of your salary. We should always put importance first with what is needed. I also agree that you can try to allocate small, fixed percentage to invest on bitcoin, so it won't really affect your other financial responsibilities. This could be a great investment for you to hold so that you can have some profit in the long term since bitcoin has been proven to have a great potential based on its past movements.

beerlover

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I do, I mean it is something that I always loved and I believe that if I had more money than I would still only invest into more bitcoins. I would never buy stocks, gold ,other fiats, anything, only thing I would ever invest my money into would have been bitcoin and I think that would be a great thing. I know not many people feel the same way and they want to diversify their portfolio, but to me bitcoin is the only thing.

I could be making a million dollars per month and I would still not consider anything else, spend what I spend and rest will go straight to bitcoin. Which is why I would say advising others to keep buying more and holding is something I do constantly, probably once per day here every single day for years now.

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Just spend a few percent of your salary to buy Bitcoin, it's not a problem as long as your family didn't get the negative effect of what you do. Buying Bitcoin every month just like you're doing DCA strategy which is very good to do against the volatility of the Bitcoin market.

Litzki1990

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Quote from: NicNacCoin on April 18, 2023, 09:33:58 AM

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

The plan you have is immediately a much better plan. Since you want to invest as savings then definitely invest for long term. A long term investment would be best for you. Instead of saving here and there, you will invest in bitcoins and you will see that you have been able to earn a lot of money from it. If you don't think it's the right time to invest now, you can wait a little. Maybe the market may go down in a few days. And for long term investment you should definitely invest in Bitcoin. Also it would be better for you not to invest in any other coin.

Before investing we have to keep in mind that everyone not only invests a lot of money but also loses a lot of money. That is, investing has a chance of earning money and investing has a chance of losing money. So before investing you must know the various restrictions related to investment and then invest.

What you said that the market may fall again in a few days, I would like to turn this word around, by fall we mean the end, but there is no such situation that Bitcoin will end. But long-term investment plans should always focus on Bitcoin. Because Bitcoin is one of the most trusted ways to invest.

MIner1448

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If you plan on buying bitcoin every month from your paycheck on a regular basis, then this could be a good strategy to invest in the long term. It can also help you reduce the impact of price fluctuations on your portfolio as you will be buying bitcoins at different prices over time. Also, if you plan to store your bitcoins for the long term, then it is important to ensure reliable storage. Some bitcoin holders use hardware wallets to store their cryptocurrencies, as it provides a higher level of security than storage on exchanges. Overall, investing in bitcoin can be an interesting strategy for long-term investors, but you need to understand the risks and take precautions to protect your investment.

Dzwaafu11

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What is the use of having money when you have financial troubles at home and you're getting money but you can't give it to your family? I believe that if you're going to utilize your paycheck to invest in bitcoin, how will you meet your family's needs?I believe you should resolve your family issues before investing in bitcoin. There is still time for you to invest, but it is not imperative that you do so right now. Furthermore, since you have hodled some coins, you will be financially solid and able to meet your family's needs before purchasing more bitcoin for hodling. Though your strategy is really wonderful and intriguing, and everyone would like to do it if they believe in bitcoin investing, but how will you deal with your family's needs.

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Investing in Bitcoin has the potential for big profits in the future especially if you apply DCA, but keep in mind that investing in Bitcoin also has risks that sometimes we have to save for a long time to wait for the bitcoin price to rise.

Therefore I think before deciding to buy Bitcoin, it is very important for you to make a decision to buy Bitcoin based on your financial/salary capabilities. You have to make sure that you have enough funds to buy Bitcoins without risking more important financial needs and obligations like family, bills and so on. If you feel that you are ready to invest in Bitcoin, then bitcoin can indeed be a great boon in the future if you buy and hold it now before its peak price reaches a later high.

However, if your finances are just barely enough for family needs, not for bitcoin investment. In this case, save your money first and consider buying Bitcoin. If your finances are ready and the risk has been carefully considered, then you buy Bitcoin because I think it is a wise choice.

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Quote from: rhodelmabanal on April 20, 2023, 06:24:54 AM

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

many investors specially a small time investors is always thinking about it or about what they are going to do with a small capital and the responsibilities for the needs of the family, all i can say is that choice to buy you're family needs before investing in crypto, because crypto is risky and not all of the investors earn sometimes they will also loss but it doesn't really matter if they loss because they are rich they have many money, but for us who are small investors it is a big loss.

I agree, having your family in a good shape and living a better life is the most important thing in a mans life, well probably woman too but I wouldn't know. So, it is important that if they live a good life then you did your job well.

However, if you push them for just a bit worse life for 5-10 years, so they can have an amazing 50+ years, that is not a bad decision neither. If they live a terrible life then I agree do not put them in that position, no need to have a terrible life, but instead of great they have a decent life, instead of amazing they get an ok life, that's fine, because in return they would have 50+ amazing years because you invested that difference into bitcoin and got rich from it. That is also your responsibility to make that decision.

tjtonmoy

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The beauty of bitcoin investment is you can start with any amount of money. If you really want to invest in it and have done your research on how in long run it could give you a good return profit, then when you have fulfilled the other needs, you can put the remaining amount into your investment. Do not look at the short gain. It may not be according to your expectation. But in the long run, it may surprise you.
Also if you are somewhat doubting and don't have the mindset to hodl for that long. Then you should be better off without it. It's your personal choice. And as there isn't any rule when and how much you should invest in it, you can choose what suites you the best. Keeping that in mind, I suggest you do your own research and come up with your own plan.

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Quote from: rhodelmabanal on April 20, 2023, 06:24:54 AM

Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

many investors specially a small time investors is always thinking about it or about what they are going to do with a small capital and the responsibilities for the needs of the family, all i can say is that choice to buy you're family needs before investing in crypto, because crypto is risky and not all of the investors earn sometimes they will also loss but it doesn't really matter if they loss because they are rich they have many money, but for us who are small investors it is a big loss.

As some others already mentioned, DCA! "Dollar-cost averaging is the practice of systematically investing equal amounts of money at regular intervals, regardless of the price of a security." It's for people who believe in something, in this case, Bitcoin or other cryptocurrencies of your choice. I think that people with this approach didn't regret their decision, the price of many cryptocurrencies is a lot higher than 5+ years ago. And many of us here expect further growth, it's risky but I would say we have good reasons to believe in crypto.

Quote

“If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes.” Warren Buffett

Since many people can't afford big investments, investing little by little whenever we can is probably the best thing to do. So I am for buying and storing more.

mvdheuvel1983

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

Hey OP you seem like a very thoughtful person.
And by now I think you should have gotten the answer to your question. But just to highlight the main points in case you missed it.
- Your financial responsibility towards your family comes first and must be attended to. Sort out 90% of your financial obligations and have some emergency savings in place. After which you can use the extra, which would ultimately be the money you can afford to lose to invest in bitcoin.

- The dollar-cost averaging method is perfect strategy for you since you are also concerned about the price volatility. The remainder after you have kept some money in your emergency savings could serve as the fixed amount you can invest in bitcoin at regular intervals irrespective of the price change.

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

many investors specially a small time investors is always thinking about it or about what they are going to do with a small capital and the responsibilities for the needs of the family, all i can say is that choice to buy you're family needs before investing in crypto, because crypto is risky and not all of the investors earn sometimes they will also loss but it doesn't really matter if they loss because they are rich they have many money, but for us who are small investors it is a big loss.

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Quote from: Strongkored on April 18, 2023, 08:46:44 AM

-snip-
Investing in Bitcoin is a good choice, but forcing it might make you regret it, and it would be better for you to also start increasing your income, so you have the ability to start investing in Bitcoin, but Bitcoin will always be good to buy and hold for long term unless something surprising happens so the opposite happens, but investing will always have risks in any form.

Forcing to start investing with a large amount and not in accordance with income will only be a time bomb that will eventually explode and make everything futile.
Long-term investment in Bitcoin is indeed a good suggestion, but it can be adjusted to everyone's financial situation.

All investments definitely have risks including Bitcoin investments which have a greater risk of loss if there is no good strategy.
In addition, doing financial management will be a good way, so that the money to be invested is really not used for other purposes and there are some reserves to buy when the market price is crashing or there is some FUD that makes the market unstable.

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

The plan you have is immediately a much better plan. Since you want to invest as savings then definitely invest for long term. A long term investment would be best for you. Instead of saving here and there, you will invest in bitcoins and you will see that you have been able to earn a lot of money from it. If you don't think it's the right time to invest now, you can wait a little. Maybe the market may go down in a few days. And for long term investment you should definitely invest in Bitcoin. Also it would be better for you not to invest in any other coin.

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Quote from: JamesBorn on April 10, 2023, 01:25:58 PM

I was thinking new kind of plan to buy bitcoin every month from my salary immediately my company paids me but I still have other responsibilities to carry with family so am skeptical about it especially now that the price has no direction. If can afford storing every month in a long run I may realizes half of bitcoin unit and that's a big achievement to buy but to you is funny because you have enough of it. So advise me on what to do! Should I hold on because of the instabilities in price? Or I should buy and store? Over to you

If what your family needs is the main thing, my advice is to finish it first because if you insist and also where there is no more income from elsewhere, it is very possible that you will sell the bitcoins that you have bought every month at a loss because of selling them in a state of urgency.
Investing in Bitcoin is a good choice, but forcing it might make you regret it, and it would be better for you to also start increasing your income, so you have the ability to start investing in Bitcoin, but Bitcoin will always be good to buy and hold for long term unless something surprising happens so the opposite happens, but investing will always have risks in any form.

Topic: Do you still advised more buy and store? - page 11. (Read 2197 times)