Topic: Do you think financial stability is mandatory to be a gainer in Bitcoin invest? - page 3. (Read 872 times)

One can always look back into the history of rich people and if they are critical enough - they will be able to understand how a rich person actually became "rich". Not everyone is born rich, many people become rich because of their actions. Hence it is wrong to assume that they are not afraid of losses. Rather the truth is that they have learnt from being poor at one time and now they are not spending their money in things they dont need.

Risk taking attitude can be present in any person be it rich or poor. When someone has earned their money from hard work, be it rich or poor, they will have more attachment to their wealth and will not waste it. But someone who got that money from illegal methods will always want to spend it away and take more risks with it.

Again rich does not equal financially stable. Rich or poor is a relative term. Financially stable is theoretical term which depends on how you manage your earning and expenditure.

Rich people become rich day by day, I think it was because of their mentality. A rich people are not afraid of losses. They always learn from it so that they won't fail next time. So they became sucessful each day.

Big investors stable financially so that they can hold how much they want without using it for a long time because they have extra money for the things if they want to spend.

Finacial stability is not really a mandatory but a very big advantage. If you are financially stable, the chance that you give up or be scared when the price drop is lesser. It was not mandatory because the things that are mandatory on bitcoin investments is your strong will, patience, be wise and set a rich & winning mindset.

Rich people do get sad when they lose money as well, because it is usually higher amount for them as well. If you are a person who has 100 bucks and you lose just 1% of that, that would be 1 dollar and nobody would be sad for that, but if you are super wealthy and have 100 million dollars then losing 1% would mean that you would lose 1 million dollars and you would get sad about that very easily.

Obviously the advantage of being a wealthy person is that you do not have to lose that money and hold to your bitcoins and wait for it to go up whereas when you are poor if it goes down too much that is your whole life savings that could be going to zero and people get super upset about it and may end up selling to save the remainder while the price starts to go back up afterwards making them even sadder. Being rich is a great thing in life, for many things, being a trader is not one of them.

Being rich is not mandatory to invest into some coins. But it is much more advantageous of course. Because as you have a lot of money already, you won't be so sad even if you lose all of your money. But the situation is completely different for a poorer person. They think twice or even more before making some investments. They care about investing an amount which they can afford if they lose it more than rich people.

And you won't be hurt that much if your investment in bitcoin isn't that much moving or is in losses.

Because you're someone who's financially stable and you've got other sources of wealth and income, it's just nothing to you and you'll hold for so long because fluctuations don't matter to you.

When the financial stability is stable, the funds can be freely used for investment.
When investors use more funds to invest in bitcoin and have more capital, they will get more profits as the price rises.
And bitcoin can bring investors more economic benefits and wealth freedom. If you own bitcoin for a long time, you can get economic improvement and get more profits.

Financial stability is a requirement for anything that is wealth related, could be stocks, could be forex, could be any investment, you can't even buy silver if you do not have financial stability. Life is hard and people are acting as if having absolutely no idea of where the next check is coming from is fine, and it is not fine, being a salary slave is not the solution, but being unemployed is not it neither. So what should you do? You should work as a worker somewhere for a salary for a while until you gain your financial independence, if you could have some saved aside then you could work towards becoming more and more independent.

I worked for around 4.5 years in my life for someone else, after that I became a freelancer because I had the courage and the business network to do that, been doing the same work for years now and I can't be any happier, it is the best years of my life, best job I ever had, and it allows me to save some money aside most months (unless there is an emergency I have to spend money on).

Not mandatory but it can help you make more money much faster since you can invest more money and can help you return your investment with a big profit margin in the same time as someone that's started from square one.

It certainly helps, but I don't think it's mandatory.

There are those who went rich from bitcoin who were not really well-off back then, and are just trusting everything to go well for the cryptocurrency. They had balls of steel to believe in something that was not "plausible" at the time, and they were lucky enough to still be here when the world saw bitcoin's potential.

Even today, one can still be a gainer if they believe in bitcoin, and set aside something and consider it as an investment for the future.

obviously rich people will get bigger profits because they use bigger capital. if you use unused money for investment you can also become a long term holder and earn big profits. it doesn't matter how much money you invest, but you have to be able to adjust the income with the investment value.

Yes, not only when investing in Bitcoin requires financial stability but also in all investments, what makes a person most unsuccessful in investing in Bitcoin is because they will expect success in short term, even though investment is long term, and often when someone who doesn't have a stable income will be very possible to sell his crypto assets regardless of whether the conditions are positive or negative to meet urgent needs.

I can’t say absolutely, but I think most of them are in the hands of economically stable people. The ability to experience stability will be less stressed than others, and their mentality must be more stable, and their financial management skills must be very strong, and success is also It makes sense. Although my wealth has not reached a certain level of wealth, we can make planned investments within our capabilities so that we can reduce pressure.

If you don't have stable income, you won't invest in Bitcoin.
The prerequisite for investing in Bitcoin is rich investment and asset stability.
The important thing in investing is to learn how to invest. Don't just invest casually just because you have more money.
It is also possible for the wealthy to invest in Bitcoin to become nothing.

Always set back-ups and its a must thing to be considered first before joining any investment because there's no such guarantee that you could make money and thats why preparing for something situation is a must.

Financial stability is not something that all people could have and some do invest with loan amounts because they do gamble out on something which they do seem to be worth to risk and if it did go well then
thats the time they do repay those loans.
I can say its risky but there are people who do really love to play with fire.

Worst things will only happen if you are not prepared for it. But if you have back ups aside from the capital you had invested, then you won't meet such situations like that. It's a good thing that we should not just depend much on our investments. It has no guarantee when will it create profits so better find a job that will sustain our basic and emergency needs.

Financial stability has nothing to do with the outcome of your investments. Although it has an edge but in the long run, its your skills and strategies will matter the most. As long as you won't sell in the dip, then you are not losing anyway.

The point here is that you always look at the investor from an individual point of view and from that perspective the road is very long, but if you are constant you can be successful, defining success as financial independence.

But the reality is that if you can start an investment based on a group of investors, the path is definitely shorter but the risk is higher and the skill is much greater, and in that sense it is a myth that great investors start with an individual capital. and they make it grow exponentially, well really two myths, a single investment and small capital that then turn it into millions.

Successful people in the investment business do not depend on a single asset and have generally achieved good capital, with bitcoin there is a romantic vision of being able to become millionaires, with little money, it was like that and it is still possible, only that every bitcoin share nowadays becomes costly for ordinary people who hope to make a million with bitcoin's trip to the moon.

Being a winner in bitcoin is something individual that depends on each of us on our expectations of what financial stability means, many people always want more or want to have more income but do not know how much, it is really that extra financially speaking that makes them happy but they do not know it and this is really important, because if you are going to be financially successful, you must know exactly what you want.

I always see or read that there are people who want bitcoin to reach a certain price, but what will happen on your life if the bitcoin reaches a certain price, on our local board a user at the beginning of this year bought his apartment, it was his moment and for me just at that instant he reached his financial stability with bitcoin for your life goals.

If you understand the point, it is about what you achieve in life with the passage of time if you are young it is obvious that there is impatience for not buy a house, a vehicle, etc. it is about the individualities in the objectives that each of us have, There is a slow process of life to reach the material things in life that define us as successful individuals, a house, a family and money, I always mention it that way "money," so, if the way to get to money is a common job, ok, if it's an unusual job, ok. it is an investment ok, an inheritance, ok

In reality, I am interested in my financial stability because of my achievements because of my effort and / or because of my ability to earn money and that gives me the financial stability to have a satoshi and be happy.

Bitcoin is desired as an asset to earn money, but you have to be honest and understand what you want as a return, but regardless of that I like the romantic idea of ​​being part of bitcoin without measuring my success in the bitcoin world by its attractive of value... I'm sorry I got excited about the topic.

Not all would really be having that kind of situation on where they do have always back up funds in case if things doesn't really tend to happen on what they had expected.

Even myself had put through situations like this on where I do need to sell on lose because I do really badly needing some funds for some personal reasons or emergencies on where it do
sucks when you do saw that theres some significant rise.

Situations like these are inevitable and cant really be avoided but if you do have funds allocated for such situations then I don't see for it to happen.

But the people who benefited the most had no immediate needs that they had to fulfill, which allowed them to hold onto their investments in the first place. A poorer individual may recognize the potential of the technology but not be able to hold onto their position for extended periods of time.

I completely agree with OP, and I think that this past decade has really benefited those with patience and with wealth.

Both patience and an existing stable wealth seem to be prerequisites for successful investing no matter what field.

I think that having financial stability is not mandatory but recommended. Because people who are financially stable can make more serious investments into Bitcoin whenever they want. And they wouldn't become so sad when they lose money. But when it comes to the other people, they think twice before making an investment. Because they should be extra careful compared to the rich people. If they lose it all, they can have bigger problems financially and psychologically.

Not mandatory, but I'd say a very desired feature. I myself have been into situations when I'd sell my crypto because I needed money, even though that was extremely unprofitable, plus the fees were high. I knew that wasn't time to sell and I wouldn't have done so if I was financially secured otherwise.

I've learned my lesson and now I only buy when I'm confident that in the nearest future I won't need that money and won't have to sell.

Nevertheless, one can make a profit from short-term returns with alts, or daily trading, I don't think financial stability plays such a big role in these cases.