And Welcome Back bones261!
Just to let everyone know. I am doing great. Sorry to worry some people. I'm just for all intensive purposes a nocoiner now. I'll try to check in more often. We shall see.
Sometimes, in life, the priorities are what force us to make certain decisions, that's how it is, there is no more.
It is really difficult to say, for sure, or even to lecture someone else for taking a zero position in regards to bitcoin.
It is almost as if you have no spare income whatsoever.. or no view of the future or no ability to save.
So, maybe if you don't have any savings and only debt, then it would be better to get your debt paid off first and to establish yourself an ability to save... and if you have absolutely not enough money to put away that you can afford to not think about, then maybe you cannot be in bitcoin.. even if that is a mere $20 per month... or some low level like that.
There are usually ways that even really poor people are able to stack some investments away, and maybe the only exception would be if a person believes that he is not going to live more than a few years, so really in a liquidation phase of his life and liquidating most if not all assets.
It may be the case, but you can also have an unexpected unforeseen and you need liquidity, then you have to act, if for this you have to part with part of your investments, do it, you will have more opportunities to return to the market when your financial situation is stabilized.
If you can cover the unforeseen or economic urgency without borrowing better.
I am somewhat sympathetic to these kinds of possibilities, especially, if a person is still learning how to invest and how much to invest; however, a central strategy with investing into potentially volatile assets is NOT to invest more than you can afford to lose in order that you are never forced to cash out at a time that is NOT somewhat of your choosing.... so in that regard, it is way better to be forced to cash some out when the price is going up rather than going down or at a position in which your asset has lost money.
Of course, some emergencies are beyond expectations too, but if you are NOT overinvesting, then you should already have an emergency fund in order that you do not have to tap into your investments - unless it is at a time that is somewhat at your own choosing and the investment(s) are somewhat profitable.
This is part of the reason that it tends to take years and years and years for many people to build up their investment funds... and of course, if you only have $20 per month to invest it is going to take way the fuck longer to build up a decent amount of capital as compared to having $2k or more per month.
I am trying NOT to be overly judgmental about anyone because I know that people make mistakes and there are a decent number of folks who are in their 50s and 60s and older and have NOT really established an investment fund, even though they may have been engaged in what they considered to be investing strategies for 20 or more years of their lives. Everyone is likely going to make some mistakes along the way, too, especially if managing their own portfolio, and I stick to my guns on the points that the more conservative strategies are going to tend to be the strongest, especially if measuring to show the building of profits and the size of the portfolio over 20-30 or more years of investing.
Maybe part of my point, too, is that there may be more abilities to make some mistakes when you are in your 20s; however, by the time, you are in your 30s you do not have as much time to be making mistakes and you have to have started to build some kind of stash that continues to build.
I had always taken at least 10% of my income and put it into investing, and I kind of hate to admit that some of my college loan money was used for investing too, even though there were some years that I did NOT really have much of an income.. and there were some years that my college loans were greater than my total assets and my investment funds, but my investment fund continued to build even though there was times that on paper my networth was negative. So maybe taking out loans for education has to end up with a job that pays way more than the extra amounts of the loans, and I could see where some of that might go bad, but still seems that if you want to get out of the ratt race, you gotta continue to build the investment funds that would also include being covered for various emergencies that can happen (and will happen).