Quote from: imamusma on Today at 04:32:01 PM

Quote from: JayJuanGee on Today at 02:44:50 PM

By the way, I will grant you that there are ways in which the longer term bitcoiners can screw up their investment in a lot of different ways,

Sure enough, I still remember the time when I had no other choice but to sell my bitcoin holdings for something urgently needed. My long term investment plans are ruined even though I can still build the portfolio again at another time, but it's true that long term bitcoin investors also can always ruin their plans unexpectedly.

I wouldn't underestimate ability to recover, because there are various points in which any of us could end up selling some of our bitcoin, and not being able to get back up to that quantity of bitcoin (ever again)... part of our ability to recuperate the size of our BTC stash will depend upon some variables like how much we sell, when we sell and our own personal abilities to generate cashflow.

I believe at one point earlier I had given an example of someone who might have acquired a decent quantity of BTC in 2015 when the BTC prices were in the mid $200s.. and even if we might say that s/he accumulated 40 bitcoin for around $12k (averaging $300 per BTC), it would take a whole hell of a lot of cashflow to make up for losing or selling that same quantity of BTC at the wrong time... right now it would cost right around $1million to stack up 40-ish BTC... even though it ONLY cost around $12k for the vast majority of 2015... a mere 8 years ago.

Quote from: imamusma on Today at 04:32:01 PM

At the same time, I didn't have a lot of money to go without selling bitcoin,

Yes.. for sure.. we can get ourselves into a bit of a cash-crunch pickle, and many times those cash crunch situations may well end up showing themselves at exactly the time that we should not be selling BTC.. and at the time that we should be buying BTC... that is part of the negative aspects of BTC price dynamics that tend to be quite difficult to avoid, even for BTC investors (HODLers) who have a lot of practice and experiences in managing their cashflows and expenses.

Quote from: imamusma on Today at 04:32:01 PM

but then I started to think that the saving budget portion should be at least 2x bigger than the investment budget. If only I had thought about it in advance and prepared for it, then I don't think I need to spoil that long-term investment plan. But never mind, it was a lesson that later taught me about how to manage finances between savings, investment, and meeting needs.

You should feel yourself to be lucky if you were able to learn from your experiences, because sometimes it still can be difficult to learn from our experiences, and sometimes we still might end up making similar kinds of mistakes, even if we made those same kinds of mistakes in the past. I surely have made similar kinds of mistakes, and I feel real proud of myself when I can recognize that the degree of my mistake in the future ends up playing less severe than it had played out in the past... .. so not easy to completely avoid mistakes, and if we are trying to be somewhat aggressive in our investment approach, we may well end up making even more mistakes than if we had chosen a more conservative path, but sometimes the conservative paths will end up showing themselves as mistakes too.. Part of living seems to be making mistakes and trying to figure out the right level of balance so that any mistakes that we do make are not so severe as to take us out of the game completely and they are recoverable kinds of mistakes rather than getting reckt kinds of mistakes, even though some people don't mind getting reckt.. .. and maybe it works out for them to get reckt over and over and some of them may end up on the street after a certain amount of times in which they might not be able to recover.. or they end up having to live in a much more restricted financial situation later in their lives.. so taking risks can sometimes pay off.. but not necessarily knowing the consequences until later in life.

Quote from: Obari on Today at 05:07:57 PM

Quote from: JayJuanGee on Today at 02:44:50 PM

So for you, if you ONLY have 1 year (or a few years) in bitcoin, you have a long journey ahead of you in terms of putting your own resolution to the test.. your resolution in terms of how you are going to accumulate BTC and how you are going to maintain your BTC holdings as compared/contrasted to other places you could place your value.... including your finances, time and energies.

Yeah I have a very long way to go and that's why most times I feel bad when I can't buy at every I stance I get a nice point and I guess this was also one of the reasons most people didn't grab most of the opportunities bitcoin had to offer.

For sure, each of us has to attempt to measure how aggressive that we are ready, willing and able to be based on our current finances (and psychology), and if we end up overdoing it or underdoing it, then we can have regrets down the road, but if we realize that we are striking a decent balance, then we should learn not to kick ourselves later down the road when we tell ourselves that "we should have bought more" blah blah blah.. because we should need to figure out those kinds of balances as we go.. and attempt to anticipate the better ways of balancing our finances, time, energies and psychology.

For example, if you ONLY have $200 of extra money that has to last you the whole month, and if you put more than half of it into bitcoin, then, you might be regretting what you did for a variety of reasons (like an emergency comes up or the BTC price dips).. so sometimes you have to figure out various strategies to make sure that the amount that you are investing is not causing you too many stresses from the ramifications of what you had chosen to do.

Quote from: Obari on Today at 05:07:57 PM

I basically don't have any hodlings now which made me realize that even people who missed out when bitcoin when the price was very low didn't do so intentionally, and some of them wished they could buy but maybe didn't have the money to buy.

It can be good to have some money in reserves to buy when the BTC price dips, and we are not always going to know when it is going to dip or how much it is going to dip, so many times we may well end up running out of money, so sometimes we can end up learning how to keep some money in reserves from our previously having had run out of money too soon.

One thing that many of us should attempt to recognize and realize is that we should not be rushing to get into BTC too much merely because we feel that we are late, so in that regard, we need to figure out some ways to be sufficiently aggressive (assertive) with our investment amount, but still not causing ourselves to over do it, merely because we believe that we are late (as compared to others who got into bitcoin 10 years ago, 5 years ago, or even 2 years ago). We can ONLY work with what we have, and sometimes, we ONLY have so much that we can do, including if we might consider if there might be ways that we might reasonably be able to increase our income without causing too many negative impacts to ourselves (such as health)..

So sometimes we can improve our income by finding more work, and other times, we might need to spend some time in non-paid work (such as learning and networking) in order to improve the level (quality and pay) of the work that we end up doing.. easier said than done, sometimes... but there sometimes can be routes to work that is both more fulfilling and better paid, but sometimes it might take a bit of time to get into those kinds of positions that might thereafter allow for larger abilities to stack sats.

Quote from: Obari on Today at 05:07:57 PM

I had a plan already to use some of my campaign rewards to invest for a longer time and I'm hoping to smile at the end.
Thanks for the advice sir.

Yes.. I know that some members will be able to use their campaign rewards to buy bitcoin because they are able to support themselves with whatever might be their regular work.. or they might find various ways to generate cash that allows them to make sure that their expenses are covered, and then they feel more comfortable with their abilities to use extra income to buy bitcoin with that extra money that came in.