Topic: How Do You Plan to Make the Most of Your Bitcoin Investment Before the Halving? - page 2. (Read 436 times)

My method is still the same and nothing has changed. In fact, I have no intention of making changes in the way I accumulate bitcoins to save as a long or medium term investment. I just focus on DCA like everyone else. And I also only focus on using money from my source of income from work in the real world in part. But I sometimes accumulate large amounts and sometimes I accumulate smaller amounts. The point is, I don't like forcing myself. I just continue to stick to the advice I have received from many people that I will only buy Bitcoin with money that I am willing to lose. Or what is usually called cold money or unused money.

But it seems like it would be pretty good if we could buy more bitcoins by making more money. Namely by adding to our side jobs to get additional money.

You must maintain your essentials (rent, food, savings) before adding something new. Always preserve your rhythm while adding a new things, like Bitcoin, and never throw in more than what wont throw off your groove.

Imagine money as a Swiss Army knife. It has tools for every situation, including unforeseen ones. Spreading those tools and investing in Bitcoin can be wise. The catch: you wont get rich overnight. Rather like planting an oak tree. Possibly majestic, slow growth. Just be patient and withstand the storms.

The world is a roller coaster, and finances follow those unpredictable dives and peaks. Growing money on the side can be your security. So stick to your financial strategy, invest wisely, and who knows? Remember, balance and not letting one gust knock you down are key.

Thanks for this list of yours. Now I'm kind of motivated to be frugal for the moment so that I can prepare myself for the "supposed" bull run that will happen a few months after the halving.

I will not share any list or anything that I will do just to have money to be used to buy Bitcoin, but I have some ideas that I can do right now to start. I also said "supposed" bull run because I always think that there's always a time that it might not happen for some reasons. After all, the market is unpredictable. I might be selling things that I don't need right now to have some funds to buy Bitcoin.

How will I reward myself after selling all of my Bitcoins during the bull run.

We are currently making our own home with my partner. I guess that alone will be an enough reward for me already. I mean having your own home means more security, and more comfort isn't it? In terms of material things, if there's still some funds, I will try and upgrade my current personal computer because until now, I'm still using a low-end type of computer. How to I plan? I guess just accumulating as long as you have spare money would be the good strategy at least for me.

I just want to ask a question OP. What's your basis why you said that your Bitcoin investments will double after the halving? Or you just claim that it will because of your optimistic thinking towards the market?

I just accumulated more Bitcoin in the previous months of this year. Not only accumulating but also switching some of my altcoins position to Bitcoin, so in short, the percentage of Bitcoin in my investment is higher compared to altcoins.
This is what I did because I already learned my lessons in the past.

Like some of us here are aware, I do accept Bitcoin payments in my business, and through my strategy of saving my profits in Bitcoin, I have accumulated a good fraction of Bitcoin and a few other dollars I have used to acquire more Bitcoin. It's not a do-or-die affair to invest, but we only invest the amount that doesn't get us choked up, so that there will be no need to sell off some Bitcoin when it's not yet time to untie the portfolio. I think we should not still overinvest more than our normally desired amount of allocation, because if anyone does so, it could cause them to untie their portfolio when it's not yet time.

Oh no, you're getting this wrong. Who said that Bitcoin's halving would double investments? I totally commend your effort to purchase more Bitcoin and I stand with that, however, thinking that Bitcoin price will get doubled is putting your hopes too high. Bitcoin halving is simply the reduction of the mining rewards by half. In fact, it is possible for the price to increase or decrease before or after the halving. I'll suggest you lower your expectations so you appreciate whatever comes, instead of solidly thinking there'll be an increase in price.

I have a strategic plan to convert 20% of my weekly signature payment to fiat every week and the remaining 80% that is in bitcoin, I keep saving it up in my wallet as it comes every week till the bull run happens by next year.

Converting 20% of my weekly payments from bitcoin to fiat every week would make me learn how to spend less, wouldn't be forced to spend more than the money I have mapped out to spend for each week. And my spending for every week will be on that 20% fiat. I won't go beyond that.

Agree with your assumption, and indeed for the first step it is the best, management basically must always be prioritized, not only when you want to invest in bitcoin but in other matters also the role of management is very important. None other than because it will be very useful for balancing your finances in any condition, and also yes if indeed you have a desire or are interested in investing bitcoin then I hope you can divide each of your financial allocations correctly, prioritize your basic needs and if indeed all of that has been fulfilled then you can start investing by allocating the remaining amount of money and also of course with an amount that you can be responsible for, especially for risks that can come suddenly.

We must really think about utilizing what we have, one of which is money, I hope we can use the money we have for positive things and one of the good alternatives that can allow your money to grow is investing in any asset that you trust such as bitcoin. Don't rush and stick to the best plan in your opinion, bitcoin does not provide a guarantee for anyone to get rich quickly but maybe by investing then you will have a great opportunity to achieve the future you dream of from significant returns on your investment as long as you remain consistent.

Some people sell their lands and houses to travel to another country where they feel is more comfortable and where the pasture is more greener. When they travel to their dream country, they spend some years there and plan to build another, knowing too well they already sold house and land to travel.

I brought this example because of OP. The essence of investment and investment in bitcoin is to live a comfortable life and Op is privileged to live a comfortable life, instead of trying to remain comfortable, he decided to starve himself and change drastically his lifestyle and in the end he will still need to buy another car and try to be comfortable again.
Humans arrive at their destinations in different ways and most times we do wired things in a normal way.

I DCA and I do not intend to do anything different or stress myself the more.[/list]

I just focus on DCAing and continue to buy bitcoin with my spare money on my pocket. I never really had these serious changes in my life routine so as to maximize buying bitcoin, but I just stick on doing DCA as much as possible.

I don't see Bitcoin investment as my major source of income so I just invest on what's I'm capable to lose and never really expect much to make massive profits from it. Although it's a big achievement to make life changing profits when bull run comes but I also have this feeling that I should not compromise my life in exchange for my investment profits. Profits whether it's big or small, we should always be grateful for it.

I will find it hard to take this decision, I find it difficult to trust people I have just met, so it will be difficult to share an apartment with someone new.

This is a good move, but for things like electronics, you may never know or plan well enough because they may just develop a fault that will force you to use some money to make repairs. You may get mugged and need to buy a new phone, you never know.

I cannot consider this, because commuting is not so easy in my country, there are no trains and subways.

Rather than not renewing your gym membership, find a cheaper gym. Working out at home and on your own can get boring and be unmotivating for you that have a fitness plan.

I plan to reduce the amount of money I give out to people unnecessarily, because I find it hard to say no to people who ask for financial assistance within what I can do. I have noticed that it is getting out of hand because the economy of our country has worsened so many more people are always asking for favors, I have to learn to say No to some of these people.

DCA both now and after the bitcoin halving because, we cant tell what happen after bitcoin and we are not also sure when exactly the bitcoin all time high will happen and how much price bitcoin will attain in that time, so instead of waiting for what is not certain, is also better to make use of what is available at that moment to make the best use of the time and what bitcoin market put up from time to time.

i believe that, if DCA is properly utilize, it will give room for higher accumulations in both direction of holding be it USDT vs Bitcoin, DCA makes the accumulation process easy and save instead of just speculating bitcoin price based on possible bull market after the Halve.

The only panic left in me is the halving countdown, we are almost out if time, so I am still doing my DCA every week and month at times but lately I am starting to sell some costly things I have at home that I am not currently using, I sold my higher end alienware laptop weeks ago too and I don't regret it.

When the ROI is good enough I will take profit and get these things back but it's not a must if you don't have something you can sell, investing in Bitcoin is not something you have to handle like you won't survive tomorrow if you don't invest, my advice is to always give your best shot and leave the rest.

Waking up every day I still do the necessary things, like working out, visiting the gym is what I do every two days in a week, health state is more important than money, make sure you don't sleep on this, it's very important. Do only what you can to accumulate Bitcoin before the time is up but do not go extra miles.

All that we should know is to use any legitimate means to save up our financial and Invest in bitcoin, cut your cost on other side attraction things that are demanding from you and find a means to maintain a saving culture habit and use them on bitcoin, there are many opportunities many people are missing out with the way they are spending their resources while not considering the ways they can improve on their utilization for their own profit maximization, another good option is to also learn how to earn bitcoin.

That's right, therefore I only use a small portion of the total balance I have or around 0.005BTC which I allocate to the futures market, if these funds increase I will be grateful, and if the futures funds run out I will not add them.

I know this risk is very big, until now I have focused on going long.

This is an admirable plan!

i think this is a sustainable lifestyle that is both beneficial for your wallet and even for our environment it might be a little bit of a hassle commuting but i guess it depends on the state of your public transport nevertheless you are also contributing less of pollution because of this; working out at home also saves you time and a lot more money regardless of the fact that you did all these for btc these are still respectable sacrifices not a lot can do!

my plan is to keep what i have right now and never sell any of it but reading this really inspired me to do the same and buy more as much as i can before the halving

OP first says NOT going to be dramatically altering his lifestyle and then goes ahead and sells his car, stops going out to have some fun, stops going to the gym, and even plans to not go shopping for about 6 months. If that isn't altering, I don't know what is. So, I believe these statements are greatly contradicting each other:


I wouldn't call them regular investments if you are doing all these things to be able to make those investments. A regular investment would be the money that you can save from your income, or just renting a part of the apartment should have been enough for you to buy Bitcoin during this time, but doing all other things makes it a bit excessive, in my opinion.

For me, I'm not going to change my lifestyle or do things that will make me stop enjoying my life only so that I can buy more Bitcoins. I will buy when I know I have extra money left from my income after taking care of all the needs of my personal life.

Selling your asset for crypto is a risky bet btw, I know it seems lucrative when you put it that way, invest now and take double profit in 6 months. Yes, market seems bullish and market shows strength nearing the halving, and it go boom after the halving, It is all speculation, but if you are single and you can afford to wait for longer than 6 months, take a risk, otherwise i belive overall its a risky bet to take. I would never sell my physical asset for crypto.

You really are dedicated to this. I live a normal life, although I could be saving up, but there are things I need. I'm not going to make my life harder because I want that additional money to invest.
I'll explain with an example. We own 2 cars with my wife and it's literally impossible for us to get rid of 1 because she works at different hours than me and we live fare away from any bus stops or train stations. I'd have to call a cab a few times a week.
If you're really able to do all the things you say you do, keep up the good work and all I hope you succeed.


And what will happen if they don't? What if the price stays at 40k after the halving? I hope you have a backup plan.


I don't do anything special with my bitcoin. I feel like I have enough to live happily ever after if the price ever reaches $100k. I live a normal life, spend some coins if I really need to (but that's rare) and mainly use fiat money and hold my BTC. If We ever go past 100k, I'll probably start realizing some of my dreams.

Nothing really.

I am just waiting for the moment to come and there is no pressure for myself when it's approaching. I just have to do what I have been doing, to do things that are common for me.

Good for you OP that you can do such decisions and they seem as comfortable decisions for you. Cutting the expenses in those unnecessary memberships are actually a good decision.

Those small amounts you think that you're paying them won't hurt you much but if you calculate them how much you're paying them the entire year, you'll see that they're quite consuming a chunk of your money.