Topic: Investing in Bitcoin in Student Life - page 3. (Read 2936 times)

$20/month for a family's needs is too little, with that amount not even enough for a week if he lives in my country. But we don't know which country he is from and if that money is enough to support his family because looking at an income of $40/month is also very low for an ordinary worker. But I think he also carefully calculated before deducting 50% of his monthly salary to invest in bitcoin because there is no man who would leave his wife and children hungry and take money to invest.

But there is another risk that I see in his financial plan that there is no savings. He should set aside $20 for his family, $10 to invest in bitcoin, and the remaining $10 to save for emergencies. Not having any savings for life is too risky.

That's funny, according to your first post, in 2013, you had already been a trader for 15 years.


So you started trading when you were somewhere between 3 and 7?  

You'll only read this reply when you see I've used it as a reference for a tag.

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On to the subject of discussion: Bitcoin wasn't invented to be an investment first and foremost. It was invented to be a new form of currency which has superior aspects over traditionally currency. If you actually use Bitcoin for what its for you may end up saving and potentially making more money than if you were to have invested in it.

Sure, historically speaking its a great investment, but if everybody who bought it only ever used it as a profit-making mechanism it would be no different than any Ponzi scheme.

Bro are you serious? I'm not trying to patronise you on investment here but $40 per month and $20 for investment and $20 for family needs. Is that really enough?
I think this is too much, although indeed bitcoin has a decent place for investment but when looking at the financial division that you do indirectly it makes you divide 50/50 in all your income and I think it's not very ethical. at least think about your family in a month $20 is in my opinion too small.

Bitcoin is indeed very good to be used as an investment material but there is no need to sacrifice other things and I still feel that if indeed it is your entire income for one month then it is better to use it for daily needs first until you get more money because this is an investment not for the betting arena by putting half of what you have in finances for one month.

However, it is possible for older people to still invest in bitcoin but it depends on the purpose.
Some people (especially young people) are definitely investing in bitcoin for their old age to make their lives more secure, some others are investing in bitcoin for the future of their young children, and it is also possible for people to invest in bitcoin with the aim of passing it on to their heirs.
Yes I understand when talking about the needs they will spend while they can no longer work. But on the other hand we know that most bitcoin investors are entrepreneurs who ensure that they will get income even if they just sit idle, in short the money works for them.
Including myself, if I can and am able I have a desire to give my inheritance one of them in the form of bitcoin. Of course it will be a long process to realize it all, including I have to educate my family (children especially) about bitcoin, so that they are not confused later what they should do with the bitcoin they have from inheritance.

For some countries, these numbers are very common, no matter how sad it may be. In Egypt, for example. What's more, very few people in such countries make $40 a month, let alone have that kind of earnings being a student. If someone with such income manages to allocate half for investment, this indicates dedication and a desire to achieve much more than a person has now. It is good that such tools as cryptocurrencies have appeared for this.

You can try DCA to collect bitcoin according to the available budget, Bitcoin is useful when someone can continue to consistently look for gaps to be collected, Bitcoin will also be productive when investment is applied long -term patterns because to achieve profits in the short term with a small budget will not be maximized. The strategy of people in investing bitcoin is different and most importantly is the level of consistency to continue to collect. When the capital we have is still small, it is highly recommended to use DCA so that the investment we make can continue to be stable and regular.

Are you seriously saying that, how could $ 20 be enough for the necessities of living together with the family, whether your $ 20 meant is only from investment profits and you have other budgets in addition to the cost of daily life. Where do you live right now friends? Because if $ 20 is total for needs I don't think it will be enough.

I think investing in Bitcoin is very beneficial in student life. Because the importance of Bitcoin is essential to keep pace with today's world. If you have something left over from your student income after spending the household, or trying to save it, it is possible to become very financially independent by investing in Bitcoin. I invested some money in Bitcoin a few days ago and made some profit from it. I am very satisfied with that. I earned 40 dollar per month, from that I spent 20 dollar in household and invested 20 dollar in Bitcoin. I have benefited a lot from it. This achievement is very big for me in my student life.

         I want to share this news that I just found and that relates very well to the current discussion. It is not only a simple informative news, but it is a true example of life. I invite you to read it and share your opinions about it. To begin, I want to share a phrase from the protagonist of the story, Gerardo Morán...
         To give you a brief summary, this news item tells us about the individual Gerardo Morán, an 18-year-old Salvadoran youth, he is an inspiring example. Since he was 11 years, has worked in construction, facing great challenges including insufficient wages and the depreciation of the currency in his country. However, this was not an impediment to overcome, so he decided to embark on a new path. Through his learning about Bitcoin and his experience with the ONG "my first Bitcoin" (a tour that covered 23 municipalities in El Salvador was carried out during the first months of the year), he managed to overcome the stigmas and obstacles associated with cryptocurrencies in his country... to the point that he is now a Bitcoin instructor due to his hard work and success. Without a doubt, I can say that this story is a reminder of the value of education, being a powerful tool to transform mentality and overcome anxieties related to the unknown. Finally, I think that in the context of student life, it is too similar because, as you can see, it is a clear example that investing in Bitcoin can offer students a valuable opportunity to learn and understand cryptocurrencies with the aim of They may face economic difficulties, or simply have better financial stability.
fountain: https://www.criptonoticias.com/educacion/como-pase-trabajar-mucho-ganar-poco-cambiar-vida-bitcoin/.

Not all would really be having the patience and this is why making up this decision isnt something that would really be that so easy too specially when we are still a student on which we dont have
income source. Even myself if i was on the condition then i would really be longing after to see some results of my invest on neither 1-2 years time but not on 4 or 5 or even 10.

This is the time on which knowledge level on certain individual towards Bitcoin or overall crypto space would be entirely be varying because if you are that someone who did their assignment and research well then you would definitely be ending up on being positive and persevere on accumulating as much as you can and as much as possible.

It would really be  that hard basing up on the condition that we are in since we arent that financially capable but doesnt mean that it would be impossible for you to do so.

There are several factors that can be used as a benchmark in this case,
For example, when it comes to older people in retirement age, they may lower their ambition to invest and stop sooner when they are already profitable because they realise that it's time to enjoy the results of what they did in their younger years.
However, it is part of the strategy but when it comes to those who are younger and still productive, there are certainly some things they consider so they will take a longer time than that even though sometimes in other cases we still encounter many investments that set a profit ratio of xx% as their target.
Actually, that's fine because they also have their own thoughts and strategies.

Surely, how much of a discretionary budget that you have will affect how much of a sacrifice that you are going to need to invest into bitcoin and/or to benefit from bitcoin, and of course, those people who have a lot more discretionary budget will have more choices in regards to how aggressively that they would like to invest (and even various ways to hedge your bet). 

When you are a new investor (whether into bitcoin or some other asset(s)), and maybe you do not have a lot of money or you had never really been around people who are employing long term investing techniques, so you may well end up struggling more than others just to build your investment portfolio up, so some people may struggle for 10 years or longer, just to build up an investment portfolio that is the size of one year's living income... so there could be some needs to have appreciation in your portfolio, but at the same time there can be a balancing in which you may well not want to overly expose yourself to risks of losing principle.... so there are investment choices and there are sizing of investments that can sometimes help in terms of how much you feel that you are putting your investments at risk and maybe causing some confidences in regards to whether sacrifices that you are making today might have decent chances to pay off in the middle to long term.. and sure some people want pay offs in the short-term too, but frequently you may well be asking for too much or too emotionally attached to your investment if you are expecting your investment portfolio to be in profits from the beginning.. which frequently is not what happens with newer investment portfolios...

So you can surely attempt to figure out how aggressive that you feel that you are able to be without overdoing it and without necessarily feeling like you are overly depriving yourself of current pleasures (because it is likely that everyone wants to be able to have some rewards in the present without completely deferring gratification to some future point in which the pay off might not ever end up being realized). 


Your timeline should well end up affecting the size of your position... so frequently if you are entering into a volatile investment like bitcoin, then you would lower your investment amount if you are concerned about the volatility.. rather than raising it and hoping that you are able to take advantage of the volatility.. but sure some people do gamble with bitcoin (rather than investing) and sometimes it can end up paying off for them in the short term.


Some people cannot invest into bitcoin for longer periods, and it partly depends on your age and other possible factors that you might foresee that might cause you to have a lower timeline.. so if you are in your late 60s you might start to get concerned about how many years that you have to live and how many expenses that you might have, including that you might be starting to live off of your investments rather than being able to put more money into investments through earned income that might go up.. but fixed income does not tend to go up and fixed income might seem like it is shrinking with the passage of time because prices go up but the fixed income does not go up as rapidly as the prices of goods and services.

Looking at the conditions for those of us who may be categorised as small investors, DCA is actually the most possible thing even though when saying conservative it seems like the only way but indeed DCA is indeed one of the good things apart from waiting for momentum and buying on the dip.

I will not say that for shitcoin and verified is a mistake but when referring to the existing context of "small investors" especially for OP who BDT 10000 for a year as OP said what needs to be verified because this will make the shrinkage bigger especially when talking about shitcoin.
Although the rate of return on bitcoin is lower especially if we save a little but when talking about certainty of course it is more worth it.

Well then indeed sacrifice is indeed needed in investing in bitcoin, because maybe the money we budget is money that should be able to buy other needs at that time, but maybe not a need that should be prioritized. Emphasis on satisfying momentary lust must indeed be done, yes that's what I also feel and it's natural because we are also humans who might want something luxurious that we can have at that moment. 

Not many people can wait for years, especially those who may enter and then the bear market arrives, it will certainly take a longer time than we buy now that the market is moving up slowly but surely.

I can say that people who invest in bitcoin are people who have a great sense of patience, because again the time they wait is not a short time. Maybe it can be said that waiting for 4 or 5 years is also a short time.

Hahahahaha

I am not sure if you are mocking me.. but sure of course, I agree with that statement... sounds like something that ChatGBTC might say to summarize some aspects of what I had said.

Bitcoin is unique and simple. Its called "digital gold for a reason. The envy-inducing stories of instant billionaires made by obscure altcoins are tempting, but grasping the foundations causes cognitive dissonance. Bitcoin's alone. It initiated this revolutionary digital currency tsunami and remains above, not merely by market capitalization but by its innovative decentralization.

Skeptically, competing coins can seem appealing with fresh features, increased scalability, and flashy marketing tactics. No technology or catchy name makes a coin better or safer than Bitcoin. It's vital to distinguish investment from gambling. High volatility and quick returns indicate the latter.

Enjoy Bitcoin. It's endured. Before diving into altcoins, study Bitcoin's fundamentals.

Yes.. good example of a situation in which many people do want to have short term profits - especially if they might be thinking of their current budget and having to struggle with their current budget, and if they are in such a situation that they are struggling with their budget and they want money in the short term, then they are not really in an investing mindset, but instead in a gambling mindset... which may or may not end up working out..

...and many of us know that bitcoin is longer term such as 4-10 years or even longer, and surely you might be able to benefit on shorter timelines, but it still might not be wise to cash out bitcoin until reaching higher levels of accumulation, including time for the price appreciation to compound upon itself. which may well take many years to really play out... and even many years to get your BTC holdings to such a level that maybe you could concentrate on something other than mostly accumulating it.. how much is enough?  People are going to vary regarding how much is enough, and some will be regretting their decisions to sell too much too soon because they likely were not thinking about bitcoin in terms of a long enough timeline in order to really appreciate its compounding and exponential aspects (that are not guaranteed but remain ongoingly possible).

It is very natural for students or students not to think about investing, because they think they will still get money from their parents. This thought came in line with what was happening at that time where perhaps today's needs were more important than for the future, and looking for instant ways was more widely used than having to wait a long time.

Some of my friends are also students at one of the universities in my country. Previously I was not very close friends with him and only saw his activities from his social media. I see him doing business that will give him instant profits, such as buying and selling branded clothes and so on. But after I met many times and he found out that I was a small investor in bitcoin, he started asking about deeper things about bitcoin, and after I gave him an explanation, at first he wasn't too interested because he thought the time he needed to take the profit is quite long, while he has to make a profit in a short time because he also pays for his studies from the results. I also explained that I didn't have to buy in large quantities right away, because I also used the DCA strategy to buy bitcoin. And after a while he finally started to do it.

from that experience I see, they are not unwilling, but they are indeed required to get instant benefits because their needs must be met.

Student life can be very different depending on the state of affairs in the country of living and the financial situation in the person's family. Not everyone's student years are associated with a lack of money. It happens, on the contrary, that it is student life that allows a person to earn capital, since he has enough time, there are still no responsibilities in the form of a family and work, and he is more open to risk.

It's best to know bitcoin first, but sure people can do whatever they want.  I recommend focusing on bitcoin, and then after you figure out bitcoin, then maybe venture into crap.. if that's what you want to do... but hey, so many people venture into crap, and they really don't even know what bitcoin is.

Bitcoin is already risky.. and if it happens to be your only investment or if you have a pretty low budget, then you likely would not be in a position to really diversify or to dilute the amount that you are investing.. so in the case of OP and anyone who might ONLY have $10 per month or even less than $100 per week, then they likely do not have enough value to diversify until they reach a certain level of investment (which is, of course, discretionarily determined by each person regarding how much of any investment they might need (or prefer) before they start to diversify.. whether that is $5k, $10k, $50k or some other amount.. .. so newbie investors do not necessarily need to spend time learning about other possible assets or investments besides bitcoin.. and again.. they can do what they like, even if it is dumb and even if it results in gambling rather than investing and also potentially wasting a lot of time, energy and money fucking around with shitcoins.

On the other hand, if someone has some actual knowledge about some investment that they can make, besides bitcoin, then surely that is on them in terms of the extent to which they believe that it is worth their time, money and energies to put value in that whether it is long term or some kind of pump and dump situation.. which brings them back to problems with trying to trade.. rather than actual investing.. and I cannot think of any shitcoin that would be worth investing into.. but if you actually learn about bitcoin and somewhere along the way you figure out some shitcoin that might be worth investing into.. rather than pumping and dumping or trading into it, then that would also be a discretionary determine that anyone could make .. and perhaps they might have some small chance of actually being correct, rather than mostly (if not exclusively) focusing on figuring out (and employing and continuing to learn and improve) their bitcoin strategy, first.


When someone actually takes action to invest into bitcoin, even if it is ONLY a small amount of something like $10 per month, they are putting themselves into a position to have incentives to follow what is happening with their investment into bitcoin, so I do personally believe that it is better to act to invest in order to improve your learning, and you do not need to invest a lot while you are learning.. something like $10 per month does not make a person rich but causes some skin in the game to incentivize better and more active learning.. .

I also recommend weekly investing (even while learning) rather than monthly, but it is not easy to divide $10 into 4.. and so it might not be practical for someone with $10 per month to invest into bitcoin weekly.. so people have to figure out what works for them to incentivize them to spend time learning about bitcoin and also maybe figuring out various ways that they might be able to get some bitcoin regularly or even figuring out ways to increase their disposable fiat income whether it is increasing cashflow coming in or reducing some expenses.. and yeah, sometimes it is not easy when some people already have tight budgets and every part that they increase is already somewhat accounted for.. but when you have learned about an investment that is as good as bitcoin, you sometimes might be inspired to figure out ways to get more and more and more of it.


Why not both?

No doubt investing your money is good, but before you invest you have to know the risk level, and if it is worth it. These days people no longer talk much about risk, what hear all the time is an investment, yes if you don't take the challenge you might not be a successful person, but don't we think most times we risk for nothing, discover your investment, go through the process of learning and understanding all the do and don't before you invest.

As a student, investing for the future is nice, but having a good knowledge of the investment itself is better.
I agree to an extent that financial institutions have done more than good to us in the aspect of saving our money with them but as a student concentrating on your studies should be your topmost concern at this stage, unless you have more money coming in, that's when you can talk about investment.