Topic: How Do I find a Balance Here? - page 3. (Read 519 times)

I don't like it when you sounded so emotional like you want to do Bitcoin industry a speculating favour with no potentials of income even when you said it was other means of investment.

Talking about balancing your thought of endivoirs equation, you have to evaluate how much the business would be required and the totality of accumulated Bitcoin in your trading wallet.
Also ask yourself if it is a must you must venture into the business? Before venturing into the business, you must have then be knowledgeable about the business so you should also ask yourself this earlier before venturing that.... The business and Bitcoin investment which is more profitable and reliable?
After all that, if you are have zero doubts and after evaluating the cost and capital demanded for the business and you still have some Bitcoins there in your wallet, you can always keep it and hodl.
Maybe I would just say... Leave it and forget it but doesn't mean you loose guards your private keys.
The goal of investing in Bitcoin on a long-term hodling is not to make Bitcoin proud as proof of its coins holder but to make profits in a larger rate.
Bitcoin is not designed for beautifications or decorations, it is not even a false useless currency. It's goal of potentialities is to create means of income that offers financial challenges solution.

You can just buy back the bitcoin that you spent on supporting the business with your fiat earnings, I thought that's pretty obvious. And to avoid unnecessary exchange fees just buy enough BTC to cover your spendings for the next year or more.

Also, if spending your money on one business is enough to affect your investment strategy, it's probably a sign that you a very small amount in your holdings - you should try to earn more money, be it fiat or crypto and put it into Bitcoin.

It's a good plan you're making, or maybe you've already started anyway. Maybe the best thing you should focus on is how you can have or establish bitcoin users who will use it in your business. Of course, for you to have Bitcoin users, they must know how to have their own wallet account to put their Bitcoin.

This is the thing that you should teach them first, in my opinion. When they learn that, they will, for sure, tell their acquaintances about it. This is the thing that you should be able to teach, or put a guideline or instruction in your business on how to do it. You should also know what apps and wallets they will use that are also in favor of your business, of course.

   I will suggest you weigh the both option and consider which will  bring greater returns in the long run, in as mush as diversity is important it is also necessary to do your research before deciding whether to invest. It’s all your choice to decide which to invest, and choose the one that best works for you. Don’t forget we already seeing the signs of the bull market, people who missed out on the previous run wouldn’t want to miss out on the next one. If you had a plan already I suggest you stick to whatever plan you’ve got. 
  If possibly the capital is enough to run the two projects you can as well go for the diversification. Being able to control and manage this two projects shows your level of responsibility and accountability.  There’s an English saying that’s goes “ accountability breeds responsibility “ be responsible for whatever decisions you make, that’s one of things I’ve learnt from the forum.

If by supporting that business you just mean buying some of its products then I do not really see the problem, if the business is offering a product which satisfies a need or a want you have then it makes sense to buy from such business, however I will advise against touching your long term stash, and instead you need to make the effort to save a little bit extra this month so you can buy whatever this business is selling.

You can decide this for yourself.  You can continue to hold while supporting businesses that accept Bitcoin by simply allocating fixed funds to spend while holding other percentages.  You do not have to spend all your holdings at once.  If you can, you can even accumulate Bitcoin to hold while spending part of the amount you DCA in supporting businesses that accept Bitcoin.  So there is no need to be trapped in a dilemma because there is really none.

If you are truly a bitcoiner then you would hold for long term but what we all finds difficulties is that at some point we got confused due to much distraction that always comes our ways why because we didn't focused our mind to achieved what we have planned and sets for, therefore in my opinion I will say you should continue holding since it would fetched you more profits although I can't tell of the other business but I believe that is the best idea., or maybe you should go for the one your mind belongs to.

Things like this happen when you invest the money that you will be using in a short period of time in bitcoin investment. You should have separate money for business and a separate one for bitcoin investment. The decision is left for you to take, but I will be giving you my own suggestion. Since you have been holding the bitcoin for a long period of time, and as we can see, bitcoin halving is by next year, and everyone is expecting a bull run after the halving, it will have been better if you keep on holding for now. Then,  during the bull run, you can decide to sell some of your bitcoin and use the money to expand your business.
 
As I said earlier, the decision is left for you to take. I am just making a suggestion, and I might be wrong. I forgot to ask you if you are doing anything where you are earning money for survival.

Actually in this case I think you have to find your own answer that matches your fashion.
Indeed, both are true because there is nothing wrong in this case when you continue to hold your bitcoin as an investment then indeed you still believe in it and I think it is very worth doing but on the other hand developing yourself to become a driving force in your area by developing a business by accepting bitcoin as legal tender is also quite noble so there is nothing wrong with both. But there must be one choice that suits your characteristics and progress about profits of course.
If indeed in your opinion doing a new business has very good progress in terms of profit then do it but if in the end you still doubt whether this will work or not then it is better for you to save and continue to hold your bitcoins or maybe there is a third option where you still have to keep the investment assets you do and do the business you want to create only this definitely requires a bigger budget.

how about helping advertise or spread awareness about the business and highlighting that they are accepting BTC(and other cryptocurrencies, if they are accepting it), this way you do not need to spend any Bitcoin but you are helping the business get customers that might be interested in paying in Bitcoin(which in turn also helping the bitcoin ecosystem). of course, if you are going to do what I suggested, it might be good to inform the owner of the business first.

If you really want to continue the holding, then you don't have to think twice just continue the hodling. But if you think that doing business with the hodling will favour you and you have the good business idea to carry out then it is a good thing to do therefore you can continue with the business idea. One thing I came to realized these days is that we don't have to discourage people to do business because of bitcoin which had been happening but to encourage them and through there they can invest in bitcoin to their satisfaction.

But if you want to do business that accept bitcoin then you have to consider the factors will militate against you. And one of such factor is the government in your country. Does he accept bitcoin? And when the governmental agencies see your banner to accept bitcoin which is against the economic policy of the country what will you do? And how many people are into bitcoin in your locality? so these are some of the factors to consider before doing such business that accept bitcoin.

For me, I don't see much complicity here. Because you are accepting Bitcoin for your business, which is a great option. So you have to run your business continuously, and for that, you have to circulate money. If you hold 100% of the Bitcoin payment, then you might need to add capital from your pocket, which is equivalent to buying Bitcoin. So just holding a part of your profit would be the best option for a long time. This way, your business will run smoothly, and you can also profit from the bitcoin while managing your needs.

You said you want to hold your bitcoin long-term?  That tells me you don't need that money anytime soon.  If that's still the case, Id say stick to your guns and keep holding.  Maybe look into some other ways you could scrape together funds for those businesses you want to support.  But if you've got no other choice, do what you gotta do without beating yourself up over it.  Although if you just want to help grow the whole Bitcoin economy in general, seems like there oughta be other ways to pitch in that don't interfere with your long-term investment outlook and   

We all have different reasons for buying bitcoin - whether it's to get rich quick or because we really believe in its potential or a little of both.  Point is, only you can decide what works best for your situation.  But don't stress it too much either way.  Ten years from now well look back at these prices and laugh.  Or cry.

If you look closely at both, you'll notice that they're both beneficial things to do for yourself. I'm not surprised you're confused and unsure what to do next; if I were in your shoes, I'd feel the same way. I am a firm believer in having an external or physical business to supplement my income or to intercede for my investment while it grows or if failed can sustain and lift myself up again. So I recommend that you spend some money in that business since it will aid in the wider adoption of bitcoin. You can always come back to invest back in bitcoin, there is no a wrong time to invest in it and having a physical business is very important too.

You may strike a balance by planning for both of them, and they will both work.

Normally, if you want to support a business, you will set aside some money for that purpose. In this case, it will be the same as supporting your business and contributing to Bitcoin adoption in your community; and your bitcoin holding will continue in the same manner as before, because it is clear that money for other businesses is not added to our bitcoin investment because it is for the long term.

Don't ruin your long-term investment plans, but also think about ways to build your business. If you are okay with budgeting 10% to 20% of your investment to build your business, then do it. But personally, I have a reserve budget that I should be able to use to build my business without ruining my investment plans. This is why you need to have a reserve budget regardless of your investment in bitcoin, obviously this will help you stick to your main plan.

Find the balance by accepting that you are fulfilling the purpose of bitcoins, and try to readjust your plans to fit in both options.

 It will not hurt to spend some few bitcoins on some little things once in a while. You will never find balance in your heart if your plan for bitcoin remains to hodl 100%, you have to find and create some allocation for it in percentage in your plan, not just 100% for Hodling, and then 0% for use as currency.

if it doesn't affect your business as if you will earn less and are more likely to go bankrupt then long term it is. holding long-term is a sure way to win they say.
i would certainly weigh the risk like you just did. i would probably use the business to trade like accepting stablecoin when the BTC price is going down. and when i see the trend is about to change to bulls again, i will start accepting BTC.   

contributing to the increase of BTC adoption is very virtuous. 

I don't know how you intend to support the business but there will always be opportunities to contribute to the Bitcoin ecosystem. If the business will not collapse because of your failure to invest or patronise them, I suggest that you keep holding and support the business after you have sold your coin and made some profit. Like others have said there are also diverse means of supporting the business than liquidating your investment. Introduce the business bitcoiners and you can also convert your spare cash to bitcoin and patronise them. You could offer other services like training staff on how to process bitcoin payments and you can even expose them to the Lightning Network and how to protect wallets. I don't think anything should prevent you from following your investment plans except for emergencies. But if you think assisting the business will give you much joy and satisfaction you can go on and sell your coins to support them, after all, everything is not money. But I must also compliment you for considering contributing to the Bitcoinspace above maximizing profit.    

The OP didn't say the business belongs to him. I think he wants to support a business with no intention of making a profit. His main goal is to contribute to the expansion of a business that accepts Bitcoin in his locality.  

Choose what you think is best for you. I get the point that you want to contribute to this technology but since it is still young, we should accept that forcing the adoption won't do us good. You want to support a business to contribute to the advocacy but if it will sacrifice your urge to do things on your will, then you would be wasting your time. Regardless if you continue this advocacy of yours, if governments won't adopt it first as well as big companies, then nothing would change. Let things happen on its own. Right now more people are acknowledging this technology which means it would be better to let its progress be. And for us investors, focus on your holdings.