Topic: Investing in Bitcoin in Student Life - page 2. (Read 2936 times)

For a student it may be true that an income of $40 can be allocated for investments using the DCA pattern, but when people are married, income with that amount is impossible to get involved in investing. However I have respect for people who consciously take advantage of investments regardless of the income they get, because there are many people who are not able to take advantage of the opportunity to get involved in investing even though they have a large income.

That is if we are discussing the case where he lives in Egypt and a salary of $200 may also be small for some people who have big responsibilities for their family. If such income DCA can be utilized for investment.

The problem is we can't sacrifice other needs for the family and force investment in bitcoin with an opinion of $ 40 per month, this is outrageous and I think it's impossible to do. But when that amount of income can be allocated to invest in bitcoin and having other sources of income for daily needs is not a problem and I'm sure the case may be different. Someone has the right to say that the portion of the investment they make is in accordance with their income, but it must be appropriate and more rational for themselves. They definitely have their own format in investing and when interest and trust has grown there is a way for them to get involved in investing.

So so sorry to quote you here because I need to put something correctly here from your post, saying bitcoin is ban in our country Nigeria.
Well, for my little understanding Bitcoin is not ban in our country Nigeria but we are only restricted not to transact and associates our bank details with cryptocurrency transactions and any account found violating the rules will either be frozen or halted.

Hence, people are freely using bitcoin our country and even there are some shopping malls and business centers that are accepting bitcoin transactions. If bitcoin was that  actually ban in our country I don't think such actions would had been carried out by some bitcoin lovers. So, our Government didn't ban bitcoin rather placed a limits of associating our local bank details to cryptocurrency trading and transaction, and currently p2p is strongly waxing strong to bycut the limits.

A very good choice you've made my friend, bitcoin is always the way to go, and I am happy for you..

There are very many countries where bitcoin transactions has been banned, this also includes my country, but then, the ban has not deterred or discouraged many of us from doing what we have to do for a better future for ourselves, at the end of the day, government can not feed us, they can not make us rich, what we decide to do with our money and time today will determine whether we be rich or poor tomorrow.

If you put money in a bank, the control of that money is completely in the hands of the bank, so if the bank goes bankrupt, even if someone has millions of dollars, that person will still get a certain amount of insurance only. But keeping money in Bitcoin is completely under your control because almost all of us use non-custodial wallets to hold Bitcoins. So there is individual freedom of fund management and at the same time there is a possibility of higher profit than the bank and it is very potential

Glad that you follow your friends suggestion. I agree with you that investing in bitcoin is better than depositing money in the bank because for example you had deposited a huge amount in a bank the guaranteed only by insurance cannot cover the excess on their guaranteed insured amount. I like your determination to save to be able to invest, that is the spirit of positivity but of course you have to ensure that the money you are investing will not sacrifice your daily financial needs. Buy bitcoin in a low price and keep it for a long time to be able to generate profit.

I envy when I learn of such people's resilience and determination. On the other side, someone investing on a better future despite all odds is motivating. However, their dire circumstances make it challenging to reconcile this positive perspective.

Now, dont get me wrong. I support investing for economic growth, but caution is important. Cryptocurrency has no assurances. The market is as unpredictable as a cat on a hot tin roof, leaping this way and that. In a single day, it may be thrilling and terrifying.

Dont put all your eggs in one basket, my polite but arrogant advice. Spread your bets. Critically evaluate internet "moonshot" information. Have a safety net first and foremost. I respect the go-getter spirit, but I also see the hazards.

Indeed, unwavering faith in Bitcoin is primary requirement for achieving financial stability through this fast-growing technology. Secondly, invest your savings in Bitcoin during the significant dips in its price by using DCA (Dollar Cost Averaging) strategy. Regarding your perspective about banks, it's true that banks are losing confidence of people due to inflation and economic instability. However, banks play an important role in economy by maintaining payment system and providing financing for businesses and projects, hence, we will have to continuously depend on banking system until an alternative efficient financial system emerges and meets all diverse needs of economy.

Belief in Bitcoin has changed your lifestyle, the rest of the monthly expenses have been saved to buy some Bitcoins. This is the right decision in my opinion, positive thinking about the price of Bitcoin in the future can improve your finances when the price of Bitcoin has increased many times. As long as you don't ask for financial assistance from the government, don't worry too much about Bitcoin being illegal in your country.
In the midst of unstable economic conditions due to inflation that has spread in several countries, people's views on the Bank have changed. Investors prefer to save their money in Bitcoin rather than saving money in a bank that is likely to go bankrupt due to not being able to withstand the economic shocks that occur.

you have all the guts and belief in Bitcoin mate because while your country banned bitcoin yet you are student come to invest with full dedication , in other countries that has not banning bitcoin yet they are not doing this same action.
glad to hear you with this attitude.

From what I have heard from locals there is a situation in Egypt which is very common when real salary, especially in the service sector almost entirely dependent on tips. And not everyone manages to get to a place where tips will be given rather generously, so the real salary comes down to 1-2 dollars a day. Perhaps now these numbers have changed a little due to inflation, but this is what it was several years ago. In such conditions, not only to invest, but even to survive is extremely difficult. But I believe that if even in such a difficult situation a person is looking for ways to change his life for the better, while choosing different ways, including investing in cryptocurrency, then this deserves great respect. And perhaps now he is sacrificing a higher welfare, but he is aimed at living much better in the future and breaking out of such conditions. And investing can help him with this, but living paycheck to paycheck can't.

You are absolutely correct that parents often want to support their children financially, to succeed in life. However, it is quite difficult to strike a balance between providing support and helping them to develop their own problem-solving skills to live an independent life. I think it is important for parents to lead by example, and teaching children the value of hard work, responsibility and financial management.

In addition, it is becoming important for parents to provide education about Bitcoin and its underlying technology, as there is strong possibility that Bitcoin and its technology will significantly impact the landscape of global finance.

Investing in Bitcoin during student life can be a topic of debate. While Bitcoin has gained significant attention and experienced substantial growth in recent years, it also carries inherent risks. As a student, it is important to prioritize financial stability and focus on educational pursuits. Bitcoin's volatility and unpredictability make it a speculative investment, and students should exercise caution when considering such investments. It is crucial to thoroughly research and understand the risks associated with Bitcoin, including its potential for losses. Instead, students may consider focusing on building a strong financial foundation, saving money, and exploring more traditional investment options that align with their risk tolerance and long-term financial goals.

Of course people can choose whatever goals that they want, and even if they do not reach something like "fuck you status," a long term investment into bitcoin is still likely to give a lot more options rather than not having had invested into bitcoin or perhaps investing into some inferior fiat-based investment that ends up not necessarily appreciating in value or perhaps even losing value in comparison to the cost of living.

So the general idea of fuck you status is to try to bring yourself (and perhaps your family) to a status of income (or investment and/or income off of the investment) in which you can stop working and to still be able to sustain your standard of living, and to the extent to which you consider paying for the education of your kids as being part of what "you need to do," then that is your choice... there can be ways that you establish your budget, including considering a variety of expenses that you have to help you to determine how much wealth (or size of an investment portfolio) that you believe that you need in order that you may well be able to stop working and to allow the income from your investment portfolio to be enough to support the standard of living that you are accustomed to or that you determine would be sufficient in order to make you feel content with your status of your life and your decisions to stop having to work for a living (besides perhaps jobs that are completely - or mostly - at your discretion) rather than being a kind of grind on yourself.

I go over quite a few of these ideas of fuck you status in my thread that attempts to cover my various ideas related to investing.


Surely everyone's situation is going to be different, but I agree with the general idea that it may well take quite a bit of increase in income before most normal people are going to be able to get to such higher level of investments that allow 50% of their income to go into investments. 

But surely there may be guys/gals that ONLY have their own expenses to worry about and they are able to cut their expenses to minimum levels and perhaps without being leaches upon society. 

Usually there seems to be some kind of obligation to not be mooching off of others and making sure that you are sufficiently paying  your own fair share, but at the same time, there could be ways that guys/gals contribute to their families in non-financial ways, so they might reasonably consider themselves in a position in which they do not necessarily need to make family financial contributions.

But yeah, everyone should attempt to consider what are his fair monthly expenses for housing, food, utilities, transportation, entertainment, miscellaneous and even emergency expenses... and then whether his/her income is consistent or not, there would be some abilities to figure out how much is left, and frequently normal people may well have troubles saving anything, and they may well be doing quite well in their savings/investing if they are able to get over 10% and even better the higher percentage that they are able to put away.. so long as they do not overdo such matters, and they are able to sustain that they have not overly invested in such a way that they have not adequately accounted for their own expenses, including emergency expenses.


You seem to be too smart for your own good nutildah.

Of course, bitcoin can be an investment, and your assertion regarding what is supposedly a "ponzi scheme," or how merely focusing on investing into bitcoin would narrow it into being a ponzi scheme (or close to a ponzi scheme or whatever it is that you are striving to say) comes off as a wee bit patronizing.. as if you really know how bitcoin should be used, considered or promoted by others in order for bitcoin to be legit. ... or how people should think about bitcoin in order for their ideas about bitcoin to be valid.

Let's see how it plays out.

I will concede that people have all kinds of ideas about bitcoin, yet many of us likely can appreciate that bitcoin is for everyone, whether you like them or not and/or whether they are going to try to manipulate bitcoin or try to find ways to profit unfairly from their involvement in bitcoin - and "we" get into dangerous territories when we try to be too prescriptive about how other people need to be thinking about or talking about bitcoin, even if they might end up being wrong in terms of how they think about bitcoin or how they talk about bitcoin.

Do you have the keys or not?  Do you engage in critical thinking in regards to your own decisions to invest or not?  Do you take responsibility over your own decisions regarding whether to invest and if you do decide to invest how much - and how aggressive or whimpy are you going to be?  Did someone persuade you in regards to how you think about bitcoin or how you invest?  Who's fault is that?

Remember that we are in a public thread, so all of my references to "you" would not necessarily be referring to uie-pooie.   

 


It is very difficult to figure out how to buy on dips in any kind of an aggressive way that does not end up causing frustration due to running out of money when the BTC price continues to dip and dip and to dip more, even after you have made several buys on dip.

Personally, I believe a mostly DCA strategy with perhaps some modest attempts to buy on dips will allow more aggressiveness overall without necessarily causing as much stress as trying to figure out how much of a dip is a good dip, so in that regard, I consider DCA way better in terms of figuring out how aggressive that you might want to be without necessarily devolving into being too aggressive.

I think that if you fuck around too much with attempting to figure out dips and being aggressive about the dips, then you are more likely to get yourself into trouble rather than trying to be more conservative in terms of your mostly trying to figure out your DCA amount and sticking mostly with being aggressive in regards to DCA.. and maybe once you have built your investment portfolio up to several years worth of income, then maybe at that point, you might start to feel that you can afford to be more aggressive, but if you find that you have spent several years building up your investment portfolio to be worth several years of your income, you might be a wee bit reluctant to become overly aggressive, and your years of experience of building up your investment portfolio in such a way will teach you how to limit your aggressiveness in such a way that you are mostly preserving ammunition.. even while you are DCAing from time to time too.


It seems to me that people do want to help their children, but surely not in any kind of way that would screw up the kids own abilities to find themselves, so frequently the parent might not need to finance the kid as much as what might be presumed, but instead attempt to lead by example, and to be somewhat moderate in terms  of the amount of finances to provide the kid.. I know that people are going to vary in regards to how much they feel that they might need to dig into their own finances or to budget their own finances for the needs of their kids.

Lots of factors would affect out if ever you would tend to achieve or attain something.Just like on this situation on which there's prohibition or something negative
against Bitcoin or crypto but as a citizen or been living on that place, you do still made out a choice for you to engage into it which it is really just that right that you should
really be careful on dealing with it or else you do know on what are the possible consequences that you might really be ending up if you wouldnt really be that careful.

Investing when you are still a student is really that a huge challenge for you to do so. It isnt really just talking about regulation matters but also on the capability for you
on doing so and since we dont really have that income then we would really be that totally be dependent with our allowance and this is why we would really be that
have the limitation on what we could really be able to do on this time.

What I caught in this is that it indirectly shows that the level of aggressiveness is also affected by this because indeed seeing from what you said about the timeline, then indirectly this has also been tried and invested several times regardless of whether the market conditions are good or not it will determine different results from the level of aggressiveness of existing investments because the benchmark may be two in this case if they invest at a time that is actually quite good with the DCA pattern or buy on the dip then it is possible that they will increase the proportion to be in bitcoin because they have felt the impact before but when they are in a high enough buying condition and a crash like before this can make the level a little reduced even if they add a good load there will definitely be concerns that occur when continuing to take positions for investment.

That's one possibility because even in this forum I found several people who were older than I imagined and it's also possible that they thought of this so they stopped faster but for other conditions sometimes there are also several other references such as starting to introduce their children so they can continue what what they did before.
This also makes a bit more sense but the ones doing this are those who truly believe that the offspring can do well because if they can't then the first option as you said is the most likely thing to do.
They also realize that old age is actually their time to relax with their family and enjoy the rest of life in comfort.

Yes, the level of youth or the age level in the education period is precisely said to be students where they are still dependent on giving money from their parents. So big or small the value they can invest will not be a benchmark because in this context they are still building their foundation direction in making savings and they do it by investing in Bitcoin is one of the ways that must be appreciated. So in this context they can achieve great success in the investment they make for their future let's say they will invest within 3 years and for sure they will have very useful savings after they finish their education period.

So in this case those of us who have relatives or relatives who are still in college must support them to continue saving or investing in Bitcoin and also teach them about Bitcoin so that they are more confident and confident in the investments they are making.

There are several other conditions to be considered in this regard.
Indeed, there will be nothing that decreases with confidence if we were previously confident in bitcoin, but on the other hand in this case we also have to see which countries are indeed said.
Seeing from the OP's tweet at the beginning it was the Bangladesh area. AFAIK currently Bangladesh is still a little closed to bitcoin even though it will not discourage some people who are sure about bitcoin there, but on the other hand there are some things that can endanger themselves especially in conditions of violation because bitcoin is still something taboo and when there is not careful in bitcoin it could make them violate and get sanctions when caught.
This should be another consideration even though of course being in bitcoin even though it is with finances that are sometimes not too big but it can still be said to be quite good when it is consistent to do DCA I think it will be a little better but vigilance means that it must really be maintained because you don't want those of you who are in countries that are still not too friendly with bitcoin to experience something unwanted just because you are in bitcoin.

Investing in student age I think it's a good thing to do.
Even though they don't have enough money to make a large investment because they can only set aside the allowance given by their parents, they can start investing by buying crypto coins, for example, according to their abilities. Because starting an investment at a young age will provide the benefits it delivers;

1. experience and learning, by starting to invest in young people, of course this will help them understand and develop their understanding regarding investment regarding market conditions and how to manage risk. This can be a valuable experience as evaluation material to continue to improve investment capabilities.

2. Free time is utilized as best as possible. Compared to playing online games and having random get-togethers with friends, I think that by studying the investment of free time students can be utilized in more positive ways.

3. Financial discipline. By learning and investing from an early age, of course, this can instill positive things in him to get used to managing finances properly and using them as wisely as possible.

However, it should be noted that in investing wherever it is, whether in bitcoin or others, of course there are risks involved. So when a student makes an investment, there must be assistance from those who already understand and master investment so that these students can be directed when making investments.

Wait, I may not know the conditions there but looking at the current index when you search on search engines the average salary in Egypt is more than $200 for a month


There are also some ranges that are at $77 but when looking at the overall average salary there it can still be said to be good.
Although it is possible that what you said could be true because I don't really know the conditions there but I think $40 a month is still rather small.

Back to the context if the starting salary is $40 a month and allocating half of it to bitcoin I think it's not a matter of dedication or not but it's a little outrageous because you might sacrifice your daily needs and family just to be in bitcoin.
Even if bitcoin is a good place to be still family comes first and you can't put your family aside especially with half your monthly earnings in bitcoin.

I have yet to witness these signs in my country. Indeed, it is true that some lesser-known and less competitive banks often open and close frequently. However, in the case of well-established banks in my country, their stock prices remain stable and even tend to rise each year. Up to this point, when I engage in conversations with stock investors, they suggest purchasing shares in safer banking institutions, each providing their own reasons. This indicates that the public's trust in banks still exists and continues to grow over time.

Nevertheless, this does not imply a decrease in trust towards Bitcoin. Despite its inability to be used for direct transactions, Bitcoin remains an alternative investment choice alongside stocks in my country.