Just Another Good Source Of Motivation For You ... - page 4.

Asuspawer09

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Quote from: Fivestar4everMVP on July 26, 2023, 12:32:25 PM

If you are still trying to find a good reason to buy some bitcoin, Well, over the night, I was watching some crypto related videos on YouTube, and while going through the comment section, I found this comment which really made a lot of sense to me, and I thought to share it here..

The dude, who ever he is said, "if he can spend a $100 to $200 dollars daily on food and drink, and wake up the next day to piss and shit it out without bothering whether there be profit or not, then not a bad idea to spend some of that money buying an asset that has the potentials of earning you some profit, no matter how small".

Sure nothing special about this statement, but I just find the analogy interesting, maybe its because this is something we do everyday and have come to terms with it as the basics of life and existence, many of us tend to easily without looking back, spend good amount of money on things that add very little to no profit or value on our financial lives, like eating out in an expensive hotel or restaurant, but when it comes to spending on that one thing that has the potential to add some positive figures into our finances, we begin to do a lot of calculating and analyzing Grin

, is this not us indirectly cheating ourselves?

For sure I mean when I budget my salary I already put around 40% just on savings and investment, because you need to save more than your spend if you spend more than your saving it is just going to be a difficult thing to do. I'm watching a lot of podcasts about financial stuff and how can I become rich and I really learn a lot, It doesnt really matter if you have a very high salary in my country the minimum salary was around 13k PHP, even though your salary was around 50k PHP it doesnt make you rich if your spending is really high, What matter here is how you save, if you're just gonna spend all of the 50k PHP, in the end, it was just useless. There are times that even though you have a high salary already you think that it still wasn't enough because you keep increasing your lifestyle instead of increasing your investment and saving.

So yes in my opinion investing is something that is not a waste and you could easily do that for your future, that make a lot of sense since we did spend on a lot of things without wanting some kind of profit or return, but when it comes to investment that could potentially give us profit we just doesnt want to.

panganib999

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It does make sense. Some of us out here spending so much on food and other stuff that wouldn't really last nor provide us with the security in life that we need soon as we retire and we're shying out on investing, not even with bitcoin but with investing in general cause we have more excuses and less reasons to do it. I get that some of us out here's not that fortunate when it comes to upbringing as well as with the income level which disallows us to invest money but for those who are able to but aren't doing so, what is your excuse really? What's not clicking my friend?

I think OP doesn't mean to make you think that should cheap out on important shit like food and utilities, but what this boils down to is you having enough motivation to invest for your future as much as you have motivation to buy that daily starbucks coffee, or that weekly food trip you go out to with your friends.

Wimex

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Quote from: Eternad on July 26, 2023, 01:49:59 PM

I value food over anything since my parents and culture teach me how to show respect on it since we are all striving to earn money just to eat since we can’t leave without food while we can leave without anything else except food/water alone.

This a good motivation if you are wasting money on fancy restaurants that serves an OP dish while you can eat the same on other restaurants for lower price with a little bit low quality. But if you are sacrificing food in general than to invest, I think I will not do this kind of motivation.

It is that in theory said motivation that the op intends to carry out, is directed towards those people whose pocket is considerably stable, it is recognized that for a person who lives from day to day this is not an option that can be taken lightly, but for those that do not make good use of their assets having the possibilities of growing with it, is a good point of view. In the times we live in no person with the ability to grow economically should waste their money, because their situation could change, so you have to make sure before having a good time and take advantage of investment opportunities such as bitcoin to face future crises. The problem with these individuals is their financial immaturity, which leads them to think that their money will last forever and they find out when they go bankrupt just when it is too late.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

200 Dollar for just a one-time dinner?? Shittt!! That's luxury right?? Somebody tell me what I really need to Know. Huh

Cus I'd better be thinking from my country's perspective.. i sure hope the cost of daily meals aren't as big as that.
Yeahh... It's quite a good motivation for alot of peeps that thinks it's best to save up than investing - when investing, you tend to make profits at the end of the day, with your Capital untouched but Saving up doesn't make any difference. I still feel that motivations are the highest you can do for neighsayers - as long as they keep doubting, let them be.

Sandra 🧑‍🦰

Nheer

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Quote from: The Cryptovator on July 26, 2023, 03:47:12 PM

The concept is quite impressive. Imagine if you had embraced this idea a decade ago and held onto your investments without selling. By now, you would likely be one of the wealthiest individuals in the world. This thought experiment is something I occasionally indulge in.

I sometimes engage in the same, and it makes me feel so bad because, looking back, I had the chance to be one when I earned my first cryptocurrency, but because I didn't understand it well enough at the time, all I cared about was selling and getting my meagre payout. I still resent what I did up until this point and am angry with myself. I am aware that I previously abused the chance, but this time it won't happen because I now grasp the advantages of long-term investing and have learned more about cryptocurrencies. I have so far been saving up a portion of my weekly income to enable me to hold onto bitcoin for an extended period of time.

Yatsan

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Quote from: Fivestar4everMVP on July 26, 2023, 12:32:25 PM

If you are still trying to find a good reason to buy some bitcoin, Well, over the night, I was watching some crypto related videos on YouTube, and while going through the comment section, I found this comment which really made a lot of sense to me, and I thought to share it here..

The dude, who ever he is said, "if he can spend a $100 to $200 dollars daily on food and drink, and wake up the next day to piss and shit it out without bothering whether there be profit or not, then not a bad idea to spend some of that money buying an asset that has the potentials of earning you some profit, no matter how small".

Sure nothing special about this statement, but I just find the analogy interesting, maybe its because this is something we do everyday and have come to terms with it as the basics of life and existence, many of us tend to easily without looking back, spend good amount of money on things that add very little to no profit or value on our financial lives, like eating out in an expensive hotel or restaurant, but when it comes to spending on that one thing that has the potential to add some positive figures into our finances, we begin to do a lot of calculating and analyzing Grin

, is this not us indirectly cheating ourselves?

It is indeed a great idea to share especially with non-crypto investors. But if we would dig down the idea, what's pushing people away from investing to this technokogy? One reason is impression. There is an impression that investment amount should be huge in order to generate bigger profit but in reality, there's no minimum or maximum amount to invest, only an amount you can afford losing. Ofcourse we would envy those who have the privilege to invest and earn big but what can we do about it? Just go with something inside yoyr capacity and you're good to go. No matter how big or small it is, the fact that you have tried is alrwady something big. If you have invested a small amount right now what more eventually right? First step is the biggest.

michellee

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If people could see that the biggest reason for buying Bitcoin was to make a profit, that would be enough for them to start buying Bitcoin. But unfortunately, many of them have heard that Bitcoin can deceive them and cause them to lose and lose all their money.

They need the right knowledge about Bitcoin to change their minds. It depends on the users themselves. If users want to use Bitcoin for their own good in the sense of making a profit, they can certainly do so but on condition that they learn more about Bitcoin.

Meanwhile, other people still think that Bitcoin is too high to buy right now, so they want to wait a while for the price to drop and then buy. But when the price drops, they don't buy either and say they want to keep waiting. But what happens is that the price can immediately go up and they don't buy Bitcoin. And that led to disappointment for them. And when they decided to buy at that time, the price was already above and caused panic when they saw the price was corrected so they sold it at a loss. That's what happened so far.

Die_empty

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Quote from: KiaKia on July 28, 2023, 10:32:08 AM

It is no point eating comfortably every day if you do not invest money. I use to tell my younger ones too, if you do not do anything, 10 years will still pass you by and you will have nothing to show for it. There's nothing wrong with investing most of your money into Bitcoin and using the rest to survive.

You have to eat a balanced diet every day to live a healthy life. If you don't eat well, you might become sick and even die. There are some basic needs that we cannot compromise because we want to invest. I don't support cutting or managing our budget on essential needs because we want to save money. But it's important not to waste money on unnecessary things, especially things that one can do without. Spending money on alcohol, cigarettes, designer clothing, and other luxury should be cut and such funds should be transferred to investments.

Some people have wasted their fortune on some trivial matters that should have been avoided. For one to be able to save and invest in these current harsh economic conditions, one needs to sacrifice pleasure and luxury. No matter how little we earn, we must keep saving and investing because the future is unpredictable.

gunhell16

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I remembered something in that quote, which is when a person has a vice and spends it every day like being a smoker, a pack of cigarettes here is now worth 2.3$, there are other smokers who gets 2 packages a day and the equivalent of that is 5.6$ daily which in a week is in the amount of 39.2$, if he shifts his habit of investing in Bitcoin it is possible that this person will be lucky in the future.

than the price of cigarettes daily which is damaging to his health is not a good habit, at least if this is what the person will do, it will be profitable for him to spend every day on his Bitcoin habit. But this is just an example of my illustration.

SamReomo

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It is one of the best ways for Motivation ever and it's true at the same time. The comment is very true and we all know that, and yes instead of wasting a lot of money on our eating habits we can save a little amount of money each day or week and spend that on Bitcoin. I know that no body will get rich by investing such amount of money on Bitcoin, but still something is always better than nothing, and the ones who invest some amount of their money on Bitcoin will have a better future as compare to the ones who spends that money on unnecessary things.

I know that there are people who won't be spending more than $2 to $5 per day on the food or other items because they live in areas where they don't earn a lot of money and that's why they can't spend a lot of on food or other items, but the ones who spend $10 or more per day on their food should learn a good lesson from this comment, and they should try to reduce their eating expenses and invest a little amount of their money on Bitcoin at least.

KiaKia

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It is no point eating comfortably every day if you do not invest money. I use to tell my younger ones too, if you do not do anything, 10 years will still pass you by and you will have nothing to show for it. There's nothing wrong with investing most of your money into Bitcoin and using the rest to survive.

Those who live their life base of risky investments are always the ones who take the top, and trust be told, Bitcoin is now on a journey of becoming a less risky investment, it's riskier not to have any Bitcoin right now because if in near future the US embrace Bitcoin completely, that will be a game changer and loads of people will then start rushing in, not to miss out but they have already missed out because they fail to accumulate when no one cares.

Lorence.xD

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Quote from: hatshepsut93 on July 27, 2023, 06:40:48 PM

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

That statement for sure has a target audience because typically people who can afford to spend hundreds of dollars in a restaurant would be rich people or successful people. So maybe that statement is for people who would go to a expensive restaurant despite the budget and impracticality just to show that you can afford the food. We need first to have a good investment to secure your financial status which we can apply in investing in Bitcoin. If you can afford something expensive which cost almost all of your salary why not just invest some into Bitcoin right? There might not be special in this context but it's hilariously motivational to people who would spend all their money in temporary things.

dothebeats

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Well this is one way to motivate someone. It is also a good way to attract people on why it is not necessarily a waste of money to invest in general. It's like saying if you can spend a few hundred dollars over something that will only give you temporary enjoyment I'm sure you have some change in your pocket to invest on something that may double the money back. It's a good way to persuade people without offering false expectations.

komisariatku

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About a month ago I ran into an old friend. We chatted a lot until he told me about his interest in learning stocks and had started setting aside 10% of his monthly salary while learning stocks. He planned that when he understood the stock business, he would increase his stock savings by 30% of his monthly salary. We had several discussions about stocks, future prospects and risks.

Then I asked him if he knows bitcoin? he said he knew a little but had no interest in bitcoins. I explained about bitcoin and its price movement from 2009 until now. Then he was quite enthusiastic about the fantastic increase in the price of bitcoin. Until finally I recommend 5% of his salary for bitcoin. I explained the risks and he had to be prepared if the money was lost. He agreed and for him 5% of the salary is not a serious problem as he is still single.

I usually don't dare to recommend someone to invest in bitcoin, because the risk is big. It's just that he has good finances and is an old friend, so I dare to give a recommendation to buy bitcoins and hold them.

I think what I did is almost similar to the quote you attached

bitzizzix

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Quote from: hatshepsut93 on July 27, 2023, 06:40:48 PM

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

You're right, and I think hundreds of dollars just to go to a restaurant or spend it in a day can be considered rich. And they can spend it because they have more money or have a large income, so it doesn't apply to those who only spend $10/$20 a day on their needs because they think hard and put their needs first to survive.
and people like that who can spend hundreds of dollars to invest in bitcoin or other investments but i think they do or do any other business that supports it to do anything because of financial support.

xSkylarx

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I am the kind of person who really gets into motivational quotes that really hit me hard and make me think something, which is the same with the statement that you can ponder since it is true. The problem really is that when it comes to investing, we are always thinking of profit, but when eating at expensive restaurants, we are just expecting good food, and again, you are just going to spit it out by tomorrow. I would be downloading this image just to remind me whenever I needed it.

hugeblack

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Quote from: Fivestar4everMVP on July 26, 2023, 12:32:25 PM

The dude, who ever he is said, "if he can spend a $100 to $200 dollars daily on food and drink, and wake up the next day to piss and shit it out without bothering whether there be profit or not, then not a bad idea to spend some of that money buying an asset that has the potentials of earning you some profit, no matter how small".

I agree with you in principle, but it is difficult to find individuals who have the luxury of saving 100 to 200 dollars for several years and then waiting for several years to achieve wealth. Most people do not have enough money for food and drink expenditures.
The solution can be to try to reduce it to a minimum and then try to have a surplus, but this requires severe discipline, as human nature loves spending a lot.

This is if we ignore problems such as unemployment, high taxes, customs duties, inflation, exchange rate problems, insurance, etc.

aoluain

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Quote from: hatshepsut93 on July 27, 2023, 06:40:48 PM

Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

I suppose the analogy used in the OP can be taken as a lesson in prioritising where
and on what anyone can spend their money on, as coolcoinz points out on the
first reply on page 1 - its just stupid at this stage not to have Bitcoin if you can afford
to spend a $100 or more at a restaurant.

Then again most people dont go around flaunting their Bitcoin hodlings and those that
spend that kind of money at a restaurant could possibly have Bitcoin too!

CryptSafe

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I have had this experience years past when I was a student. During my undergraduate days at the University. I go club every friday and you know what that means. Spending money on drinks and other stuffs friday nights was a habitual thing although the money was not the issue but it was just for fun. I did this until one day the thought came over me to do some calculations on my weekend expenses at the club. I noticed the money I spend on weekly basis for clubbing with my friends was enough to buy some shares and to start some little business engagement as at then. I had no knowledge of Bitcoin because if I have heard about it then possibly, I would have bought some Bitcoin and possibly I would have made some big fortune from it then but the knowledge about it wasn't there.

What am I trying to say is that sometimes the money is not the issue but knowledge about the investment. Just like what I have read from the post about the money people spend on luxury, some do it at their own merriment while some that can afford it do invest in it. It is all a personal perspective. To some the bucks is a million times important for them while for some it is just a trash to them. Different folks with different lifestyle and business orientation.

hatshepsut93

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Most people in this world don't typically spend hundreds of dollars on restaurants, so this wise advice is not applicable to them. And those that do are either so financially secure, that they can easily afford that, or are so bad with money, that they need to address that before investing in Bitcoin.

Bitcoin is just a saving/investing method, there's nothing special about it in this context. You could as well advice people to put their money in stocks, instead of spending it on luxury.

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