Topic: Do you think financial stability is mandatory to be a gainer in Bitcoin invest? - page 6. (Read 891 times)

I would say that if you are investing with the money you need, then you will always end up losing. This month I had to go fight fires, and wanted to take a vacation as well! So instead of a vacation, I went and fought fires for 3-4 days and then relaxed in a hotel to recoup for 3-4 more days, it was one of the most tragic moments in my life, honestly considered leaving it all behind and going to some small island to just enjoy life and forget about all of this hectic world problem BS, and not like that was enough, I had to purchase so many stuff for firefighting and then hotels were extra expensive because of covid, so not only I had a horrible month, but now I am in debt as well.

Nothing too serious, like just 200-300 dollars and that's it, I can recover that in few months no problem, but the reason why I have debt is because I wanted to help people put out the fire, I was already doing something good, and still lost. Did I cashed out my crypto during that period? No. It is still there, and not touching it.

I am increasingly wondering why there must be a social status that becomes a paradigm among the community which is divided into several sections, poor, middle to upper class and high caste which has made financial stability in our eyes like having a barrier. Bitcoin came to generalize that perception, and as an application we can be equal in holding Bitcoin if the poor come in at the time of the Bitcoin price in 2010.

Have you heard of die hard fans in a club, they don't live their club no matter how many times they loose matches or cups, they remain in and will always endure that club for the purpose best known to them. The same thing with bitcoin, there have been some diamond hands that have holding tight to their bitcoin since its inception and they don't think of selling anytime soon. It's actually true that the rich get richer but what makes the rich to keep holding? It's nothing but discipline, they don't joke with it.

Nope, I don't think so, there are people with a lot of money that are loser in trading so it's not a right assumption. What should be mandatory is the ability of some people to do a good trade and analysis because that's what some of this people lack that causes them to not be a gainer when it comes to investing.

In my opinion, so far financial stability does have a very important role both in the real economy sector and as investment in cryptocurrencies, the most basic of which is investment in BItcoin.
Why is financial stability so important? Because if it is not stable, such as overlapping with various other needs, it will have an impact on both micro and macro economic crises.
Bitcoin as a solution to overcome the problem of the instability crisis, when market conditions come and change, only the old holders survive and don't really care about price fluctuations.
However, it is possible that when the price of Bitcoin exceeds $50,000, how lucky the traders are, they say they have a profit of 10%, so there is no need to say how long-term holders are now. They are much more proud of the wait.

Furthermore, how can conditions of financial instability have an unfavorable impact at all? Here are some reasons that I try to summarize based on what I understand so far:

• if there is a crisis that has systematic potential, it will certainly result in high costs
• the increasing public distrust of the government system which has an impact on Bitcoin exchanges which are often cornered as money laundering by bank officials.
• the allocation of funds to the public at a time when financial stability is not evenly distributed makes intermediation unable to run optimally.

Isn't Bitcoin so big a role to save economic conditions for those who still hold on in the long term?

The old saying goes.... "Money makes money....." and this is true for Crypto investments too, but there are ways for the small guy to profit too.

Fiat whales can dump a lot of money into Crypto when the price are dropping.. and then wait a few hours or days for it to recover and they make a sh1tload of profit if they time it correctly. (They do not need the money, so they can wait for the price to recover)

The small investor are always under pressure to sell early, because most of them live from hand to mouth. The secret to the success of any investment into Crypto currencies ===> Investing disposable capital over the long-term and waiting patiently for the right time to take profits. (I had to wait 3 years for the price to recover to $18 000 .... after I bought coins at $15 000 .... back in 2017.... then I sold at $35 000 and I made a huge profit)

Tip : Buy small amounts every week AFTER you paid your expenses.... and push those coins to Cold storage (Paper wallets) .... because it is more effort to sweep those coins when you want to use them.  The more effort you have to put in to use the coins.. the less you will be tempted to do it. 

That's true; the rich are getting richer. That always works in any type of industry in the world. I think it's not true when it's at the start of a particular project when early investors see the project's potential, and since it's very early, it's cheap. Like those people who bought BTC early stages where it's just cents. That's when retail investors beat the whales later in the game, in terms of profit, of course.

What's mandatory is to have financial planning in place and not "to bet" on the profits of BTC to turn you into a financially stable one. It's going to be a gamble, and I think the personal well-being of a person shouldn't be gambled in that way.

No, everyone can gain profit here.
But, if we are talking about being a successful huge gainer, YES, I think it is mandatory, if we see it as a store of value, gains would be bigger if we could invest consistently. Bitcoin won't magically work for you, and multiply it by 1000x. You could work hard and play with your investment to be a huge gainer, but having a startup fund could help you in the process.

I won't agree with you. Have you ever notice any suicide attempts for losing crypto? If not then you may read Are Crypto-Related Suicides a Real Problem?. Believe or not many peoples even borrowing money to invest in crypto. Most small investors take chances to multiply investments within a short time. It's like gambling. That kind of investors become panic during price dumping. And they might sell holding as well in bad situations if need. So here is the financial stability stand for and it's mandatory for long investment IMO.

From here we learn that everyone who is born at the finish line has an easy desire to hold bitcoin in the long term without having any problems as long as he has other stocks to run his life and fulfill his needs. Investment everywhere, finance comes in from all gaps.
Meanwhile, we who have to go through a series of life can't be winners if we don't have a strong will and the path to take when facing a bear market, what can we defend? other than letting go just to meet the needs of life for tomorrow morning.
That is what often distinguishes where the fulfillment of financial stability can smooth the long road. However, this does not mean that you are guaranteed a winner, because the winner is not determined by money. It's just that the alternative is easier than the path we took.

Not neccesarily but a man that is not financially stable might not able to think of investing because he'll have to feed himself and worse if he has a family to take care of.

A man who just live paycheck to paycheck that hardly meet ends will endure a lot of sufferings if he will invest tiny fraction of his money but it will be worth if he survive to see result of his sacrifice.

Of course the people not classified as the big money holders or whales can also have some shot on making it big, What happens to taking a chance and luck? Luck can shine into such people who believe. I think the greatest obstacle against wealth is the mind. If we limit our mind from thinking and planning big then  we stand limited and we can't take chances to opportunities we see.

Cryptocurrency investment is a big example to how you can stumble into wealth and greatness. The example of just hodling bitcoin is enough to convince us on that. We already seen people making it around us and some of us too are testimonials to this. Gone the times where only wealthy and financially known families make wealth because of the huge capital commitment for it, not these times. Is a little easier but believing is the greatest weapon to getting there in life

Financial stability makes sure that you can take chances in the market, when we are talking about normal people, at the end of the day, they try and invest but they have their own limitations. When you are financially stable, you can do a lot more, you can invest, hold, trade and even exchange, that too on a bigger scale. The Rich people have that advantage for sure, at the end of the day the only bad thing that might come out of this is the probability of these people becoming whales and then manipulating the price according to their own benefits, which I do think is very low, since that takes away any power from the small Investors. I do think it's not mandatory but it gives you benefits as a whole. Other than that, you can invest in small parts but make sure the follow the market.

It's no secret that a smart man with a lot of money can easily create even more money, and that he can even afford to lose his investment sometimes, while on the other hand most ordinary people in the world still live in a way that they lack money, which again means taking loans and credits from banks to be able to meet some basic human needs.

Therefore, it is not realistic to expect someone to be hungry or in need of renovating a house or buying medicine, and at the same time refusing to sell cryptocurrency, although he assumes that it will be worth much more in the future.

The only way the less wealthy could have succeeded with little money was to be in the right place at the right time, which means they recognized the opportunity early enough to minimize the risk. I believe that there are many examples like you, but that's the way it is in the life of an ordinary person - look at it from a brighter side, because what would it be like if you didn't invest in crypto at all?

Financial stability and mindset and Rich people don't just take risks or make decisions, they have done research and analysis first, then set the most suitable choice for their financial and business needs and supported by their existence, and most of the rich people can afford investing large sums of money over a long period of time is supported by needs that are met outside of investing and also limiting purchases that are deemed unimportant and another reason most wealthy people live frugally and consider buying or not.
and the difference with ordinary people is that their limitations and financial conditions are not as fortunate as rich people, and the investments made are wise because they also have to meet their needs. and if one day they need it, like it or not, they have to sell it even though they don't really want to sell it and what is clear is that rich people and ordinary people have many differences, especially financial and mindset.
and besides that ordinary or simple people invest bitcoins only to be used as a reserve fund when they need it and though it doesn't make as much profit as rich people, and rich people invest in bitcoins to grow their wealth in the long term and as long as they don't need it.

Financial stability isn't mandatory to gain big profit from any investment. However, it plays a great role in achieving what you want in life. Money is necessary in order to start off something. Sure, skills, talents, and your characteristics can be of great help but without money, you can't pursue or establish your goal.

Those people who are financially stable have safety net that catches them whenever things don't go the way they planned it to. They will be able to bounce back again faster compared to those people who really have none. The people who also have enough money on their bank accounts don't have to worry much if they will continue holding or they will withdraw because they are used to gambling. They can afford to lose because they always have back ups. Which I really commend because in crypto or any investment you should really just invest what you can afford to lose. There are just instances where people risk all in despite knowing the golden rule to perhaps try to gain because of desperation.

Despite not having financial stability, one can still achieve and gain in crypto. He just have to be determined, strategic, and resourceful enough to gain. In addition, patience and strength of heart will also be one of the great factors to gain.  He must not be easily shaken and must be willing to hodl for long term. Unless of course, emergency situation arises such as need for funds. This one is the really big difference between the financially stable investor and financially unstable investor - the latter will be forced to sell or withdraw his assets to support his needs in life, meanwhile, the former can continue to hodl as long as he wants. But both can gain depending on their methods and decisions, it's just that the financially unstable is at disadvantaged side.

This is 100% spot on.

The thing that separates the poor from the rich is often not the sheer amount of assets that they hold, but the attitude that they have in regards to investments.

If you are financially well off then you can afford to hold onto positions for much longer, cover any margin calls, and overall sustain your investment horizon. Poorer individuals would often have to sell their assets to cover basic expenses. It's a positive feedback loop of wealth in essence.

It's really a combination of a lot of things, including things like financial stability that can definitely help with investing in general. But really? In my earlier days I managed to multiply my net worth just by holding bitcoin, without even having a stable source of income. You're only really forced to sell your BTC if your only source of income is concerning bitcoin; which isn't necessarily bad, but it's really really beneficial to have multiple sources of income, and not solely rely on BTC price increases and Bitcointalk campaigns.

I recently published a post on the same line: is it easy to hodl if you are already "rich". My personal answer is that once you have your basic needs, including financial stability covered, it is much easier to do anything else, including achieving great results with crypto and bitcoin in particular. Crypto is a risky venture in general, with wide swings in price, unclear regulations and a wild west aroma. All that is what attracts two types of people: those who have little to loose and those that have little to fear.

Are we talking about the real world, the rich are getting richer....! Is life fair from a financial point of view.

I am aware of money vs. money make (money), how sure are you about it, I'm very sure, someone invests Bitcoin, obviously he has a lot of money invested, this doesn't just happen to Bitcoin, it can happen to other outside/real businesses.

What you say I have no doubt 100% I have to admit it, true story: there is in my country the highest official he has a position in a government office in the field of finance, he knows about Bitcoin and invests, in 2019 he bought 30 Btc, in 2021 he sold yesterday, his wealth was double what he had at that time, obviously he is getting richer.

With that incident I thought, investing in Bitcoin, if someone doesn't have money, wealth is only day and night, the person will not succeed and will never be rich, rich get richer because of money vs. money makes money, for that they will get richer get richer, if hoes vs. very long money can be rich and also cents vs coins, long enough it can be a hill.