Topic: Don't you think you should invest in Bitcoin instead of burning your money in fire - page 4. (Read 835 times)

Someone who smokes only one pack of cigarettes a day in most EU countries will spend at least EUR 5 a day, which means about EUR 150 a month or EUR 1800 a year. This is certainly a large amount of money in some countries, but it is not small even in the EU, where in some countries you have to work for at least 3 months for that amount. All this while noting that I took into account the cheapest pack of cigarettes - so some spend much more with the addition of daily coffee and alcohol consumption in cafes.

In reality, people "throw" large amounts of money literally into the wind, but in doing so they poison themselves and others - although some in this topic think that cigarettes are not harmful to health. I don't interfere in anyone's life and say what is necessary and what is not, but I can say with certainty that people would have much better quality lives if they let go of their vices.

Unfortunately, people think that short term pleasure like smoking is better than big wealth in the future

To be honest, I think it’s not much of a disadvantage as much as it is an advantage.

Especially for those who want to earn but do not have the time to monitor closely their holdings, long term investments are the key to making profit while not stressing them. For investors who are also thinking about long term goals like family planning or retirement, bitcoin would be the best option.
I think the difference between long term holders and short term traders is their source of income. Long term holders most likely do not only rely on bitcoin to make money while traders do that’s why they need to make profit as quick as possible because there are bills to pay

I think only few students who value their future will have the guts to save but they commonly save fiat not crypto. I haven't heard any highschool students who holds crypto but in college I read comments from our local board that some of them do and I think it also help their tuition fees and school allowances.

You live not only thinking about investing and saving, but there are many other things you need to think about for life with your family.
Life needs to be prepared and the scale of investment, saving and meeting life's needs must also be balanced. Believe me, chasing wealth too much doesn't necessarily make your life happier because there are many rich people who don't have a happy life with their family.
Regarding the issue of saving and investing, it is necessary and must be prepared carefully in order to achieve the success you desire.
Ensuring the future must go through planning and this is done by means of well-planned adjustments. Investing and saving also requires readiness for a stable income because otherwise, none of this can be done.

That's true. In order for a bitcoin investor to be able to hold their bitcoin or other crypto asset for the long term, they will need a stable and other sources of income. Because a holder cannot fully maximise the potential profit of long-term holding if they do not wait for a long time, that's the disadvantage of holding bitcoin, but it will be worth it, as has been proven multiple times. With a stable job and other sources of income, an investor could do DCA so that they could accumulate a huge portion of bitcoin slowly, step by step. That's why I dont really get those bitcoin investors or traders that does scalping because they only risking their asstes because they are increasing the odd or the leverage in order to earn even in short term, so its important for an investor to become more patient and could contain its self to be tempted to sell their bitcoin asset early.

This is the real thing about investing in Bitcoin and even in other investments. Even if you have money and the capacity to invest, not all of them will think that investment is good until they realize it, and much more on students. Because we all have different priorities and wants, especially for students they more likely prefer good vibes and spending money for enjoyment but are skeptical about future plans.

Indeed, it was regretful OP but there is perfect timing when it comes to investment. As a student, you better focus on studying and saving, just consider investing when you are fully ready. Investing is not all about money and capital and proper preparation and knowledge.

You're right having other source of income is very good because this will enable us to hodl our bitcoin for long term, but if you don't have any source of income apart from bitcoin investment probably you will find it very difficult to hodl. because challenges might come from any angle since you don't have any other source of income so there will not be any other option for you than to pull out your bitcoin, This is why is very important to have a stable income.

That is why parents must teach their children to manage their finance so they can use the money from their parents with right. They can manage their money and knows what they must do with that money. They will not use that money to something that doesn't gives benefits to them.

If their parents teach about Bitcoin, their children will trying to learning more about Bitcoin and see that Bitcoin can helps them to have investment. Investing in Bitcoin can gives them a chance to have a solution when they grow up and they can use that money for anything they wants. But unfortunately, not many parents do that instead just gives the money without teaching their children how to use that money properly.

Their parents thinks when they gives the money to their children, that is enough for them to use that money without telling how to manages the money. Children who already knows about the used of money will use that money for anything they wants. If their children use all of their money without left, they can asks their parents to gives more money to them.

Many people even advise people to cut down on spending on daily necessities to invest in bitcoin, not just advising people to quit smoking or gambling to invest in bitcoin. I agree that smoking is not good for health but it can be one of the many joys people have after stressful working hours and they have the right to be entertained. People who give such advice show that they are having difficulty planning their life expenses, they do not know how to allocate money for living expenses, savings and investments. They are mixing everything together and losing balance in their lives by focusing only on bitcoin.

you're right on this, you know as a student savings won't come across your mind if only someone talks to you about investing. And even if someone or a friend introduce with anything concerning investment you feel like he doesn't want you to enjoy yourself, and when it comes to addicted most of the students started that lifestyle of burning smoke while they're still at home, and with that freedom of no one is here to control me any longer so they can smoke more then 5 pack cigarettes in one day. And a pack cigarettes is $30 for a pack but if they really had the knowledge of investing the money, I think before their graduation they might have gotten up to $25,000 or more than this before they're out from school. So what's killing the youth's nowadays it's lack of knowledge and not ready to learn about anything.

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quote] with your degree you might have a higher paying job, but that doesn't change the fact that you won't concentrate with your studies. But on that process you smoking of your payment not remembering that their are so many ways of making money while you're still in school, okay just as you said that your investments in bitcoin just to supplement your needs. But most of them don't know that their are ways mostly when it comes to Bitcoin investments, why do you think that if they start investing with Bitcoin while their still at school. Do you really think they are taking a risk? For me they are not but only laying a strong pillar that will hold them in future purposes. But for saying don't ever risk your future career just because it's really good investment, I don't support you on that. Just as I said they aren't risking anything neither they're laying a strong ground for their future.

I guess that this is yet another one of the "don't spend money on X, save them and buy Bitcoin" type of forum threads.
This forum is full of active gamblers(including myself), it has an active Gambling related sub-forum and multiple casino sig campaigns.
Why don't you tell all the gamblers to quit spending money on gambling and invest in BTC? Gambling is one of the bad habits, like smoking, drinking alcohol, doing drugs, porn, gaming, etc. I don't think that anyone would listen to your advice and take financial responsibility.
Most students don't care about their long term future, because they think that they have lots of time and they will figure things out in the future. Giving advice to young people makes sense only if you are their parent or relative.

It is very good advice, for those who smoke and waste money unnecessarily, it may be better to quit smoking and invest in bitcoins. Smoking is injurious to health so one should refrain from smoking. Now if someone wastes a certain amount of money smoking every month then it would be better for them to invest that amount in Bitcoins in DCA method. Now if you invest small amount in DCA method for 8-10 years then it will be seen that at some point your investment amount will be big. In fact, quitting smoking can be difficult for those who smoke, but quitting smoking should save money for the future. Now you are earning so you are spending in various sectors which may lead to financial crisis in future. People who smoke should quit smoking and invest in Bitcoin which will save for your future and also good for your health.

There is a point in what you are saying, if reckless spending or money used in smoking by most individuals not necessarily students is been accumulated and used for Bitcoin investment it would have been better but my question is how achievable this can be, I said this because it has become a usual saying and believe of individuals but we think of this good whenever people wallow in reckless abandoned with funds, I come to realize that even when we are not smokers, there must be something that will be making us to spend our money it might not be much but a little fractions would have been saved if we had acted smartly.
Op, although most of this things were done blindly, some people regret this actions because it started as a play but unfortunately addiction came in, I am not an advocate of smoking since I understand the medical effect of smoking, I always advice people to quit, but realistically, even though you are not a smoker saving up this amount of money as you said will be unrealistic if one is not decipline and determined to do so.

If you're doing well in school, wouldn't you have higher chance of getting a high paying job? I mean bitcoin is just there after all, your investment in bitcoin can wait. Don't ever risk your future career just because bitcoin is a really good investment for the long-term, remember that you can't just pull out any of your investments in bitcoin just to supplement your needs, you need a stable income after all so you can hodl your bitcoin in peace.

No one ever thinks as deeply as you. I like your advice very much. If someone doesn't smoke and hoard bitcoins or cash, his future will be very bright but if he hoards bitcoins his future will be much brighter. We waste a lot of money in our daily life, if we proceed with a little awareness, we will not have to suffer much in the future. If a student quits smoking and saves or invests money from a young age, this money will definitely create a lot of backup in the future.

I do not smoke I am not addicted to smoking. Many people may have this addiction to smoking, I will tell them to quit smoking, this smoking is a very bad addiction, it not only wastes money but also destroys a life. Let us who smoke and waste be aware, stop smoking and prevent waste. If we can stop smoking and prevent waste, we can certainly create a better life.

As a student, you really don't have a choice do you? I mean unless you've got a part-time job, you're probably going to be not earning a lot of money, you're basically regretting over nothing OP, in my opinion, you should've just become better at your studies because there's no way that you'd never use that good school record and not get a good job especially if you're really good at your course and what you're trying to do, you'd easily get high paying jobs that you can have and then you buy bitcoin with those hard-earned money. You don't have to regret anything OP, bitcoin's still here and you'd never be left behind in terms of investing because bitcoin's for the long-term.

I don't smoke, yet i am not rich, meanwhile there are a lot rich people who smoke everyday.

You cannot tell people to stop what they love doing and save or invest every single penny they earn, we all have certain trivial things we spend money on, you have to enjoy life, you can't buy BTC with all of your money. However, it is important to be responsible in your spendings, there should be amounts you set aside to invest, and BTC is a good option, there should also be amounts you keep for having fun and doing what you enjoy.

This situation you have described is also common in my neighborhood, youths increasingly becoming addicted to smoking and drugs. It is almost a trend and peer influence is driving this seriously. Maybe we are now in an unhappy generation, a generation where children suffer depression thereby resorting to various substances for solace. I just picture a situation where these youths can properly be guided into channeling these monies they waste in weed and drugs into investing in something that will settle them for life which is Bitcoin.

I know that El Salvador that have legalized Bitcoin have a process in place where children are taught about Bitcoin and the Blockchain technology at a very tender age. These ones might definitely consider investing their pocket money into Bitcoin and that is one great thing their government have done for them. In countries where such programs and policies are not in place, individuals can make such effort like some members of these forum had posted about their outreach to schools, teaching them about Bitcoin. These are things that should be encouraged.

Education and school are two different metrics. A child need to get educated and the means is through school, there are some education that can be learn at home but only the parents can't impact everything on a child, they need to go to school and the way is money, it will cost a child money to get educated and you think it's a waste to get educated? That's very wrong of you to say such.

Life isn't all about investments, without education it's useless. From where I'm coming from, it's a crime if a child doesn't get educated because it's lack of education that makes children not be to serious with their life's and many became irrelevant to the society, forget about this thought of abandoning education for investment.