Quote from: SeriouslyGiveaway on Today at 03:36:01 AM

Quote from: JayJuanGee on October 30, 2023, 08:07:51 PM

Getting to higher amounts does seem to provide more options, but surely only if we continue to figure out ways to make sure that we are responsible in the ways that we are growing, preserving, and then perhaps later spending from our investment portfolio whether that is strickly BTC or if it might evolve into the inclusion of other assets over the years in terms of ways to give us a sufficient level of confidence in regards to when we do start to feel that we can either draw upon the funds for expenses or other ways of maintaining the wealth and making it functional in terms of our own needs once such wealth is achieved..

- For me, it doesn't matter which investment or accumulation method I choose, as long as my mind remains at peace. This is essential for long-term investments,

Your ways of choosing how to accumulate bitcoin is surely within your discretion, and some of the ways will work out better in terms of balancing finances and/or psychology.. and so it could take a bit of time for you to narrow down on what is best for yourself, since it seems that sometimes a person might not build a lot confidence in himself/herself in terms of finances and/or psychology until maybe after going through a whole cycle... yet of course, you are in the better position to make those kinds of assessments.

Quote from: SeriouslyGiveaway on Today at 03:36:01 AM

especially in Bitcoin and the still relatively young cryptocurrency market.

You are likely a bit distracted if you are trying to consider bitcoin in terms of "the crypto" market, and hopefully you are not too distracted (trying to be smarter than everyone else) by getting involved financially, time-wise and/or energy wise to be "studying" the shitcoin space.. and then believing that there is some kind of a "need" to assess the "crypto" market, rather than focusing on bitcoin first and then perhaps branching out from there... but hey, you are free to look at the matter however you like, but if you are bring shitcoin talk into this thread by suggesting that bitcoin is somehow part of a larger "crypto" movement and/or market, you likely are going to get some backlash.

Quote from: SeriouslyGiveaway on Today at 03:36:01 AM

At this point, with my confidence firmly established, it's evident that Bitcoin holds the potential for the future. The likelihood of its complete collapse is almost negligible, but that doesn't mean it's entirely risk-free; even depositing money in a bank carries some financial risk.

Fair enough.. a few seeming exaggerations in there, but I don't disagree with any of your overall points.

Quote from: SeriouslyGiveaway on Today at 03:36:01 AM

- To ensure my Bitcoin investments don't unduly affect my peace of mind amidst market fluctuations, I've estimated the amount my family needs for expenses over the next five years (let's say it's $200,000). I keep this sum safely in a bank account, untouched for investments or other purposes, solely reserved for expenses. By doing so, I've found that my state of mind is significantly more relaxed, and it prevents me from making hasty decisions, such as selling my investments for daily expenses.

That seems a bit much, and also borders on the grounds of unbelievable.. and I am not referring to the amount, but instead that either someone would have 5 years of expenses in a bank account or even believe that would be a good practice.

Many financial experts talk about having 6 months available, and so sometimes people might go a bit above that and a bit below it, and surely if you have instability in terms of expenses or many family members and/or even a business and some uncertainties than it might be reasonable to hold up to a couple of years, but 5 years, just seems like a BIG waste and not even necessary, reasonable, prudent and/or practical for the vast majority of normal people, whether rich or poor.

Quote from: Jaycoinz on Today at 04:34:06 AM

Quote from: JayJuanGee on October 30, 2023, 08:35:33 PM

Quote from: Samlucky O on October 30, 2023, 08:20:29 PM

Quote from: JayJuanGee on October 30, 2023, 12:48:22 AM

Quote from: jossiel on October 29, 2023, 11:10:15 PM

Quote from: BABY SHOES on October 29, 2023, 07:18:18 PM

I don't!, no stash for trading all that just for BTC investment and HODLing so on, how to accumulate using DCA strategy.... 30% of monthly income for BTC investment and the rest for living and other needs.

Nice to see that you've got the status to put 30% of your monthly income to BTC and you're firm in holding that.

You are right with the implication that 30% is a lot to be investing into bitcoin and/or otherwise saving, jossiel..

Most people have trouble saving any income and frequently, 10% of their income can be a reasonable and even a somewhat aggressive target for a lot of people (even though surely some people have more discretionary income than others and if they make a lot of money, sometimes they can live a kind of minimalist lifestyle and end up getting up to decently high savings/investing levels). Many of the normies can make quite a bit of progress just by going from near or at 0% to 10%, and surely if they can invest/save more than 10%, then the is o.k. as long as their other financial matters are in order.

Although it sound interesting but hard to achieve that amount of %30 on regular basis expecialy on DCA strategy. Considering the responsibilities in the family. for example a country like mine, if you continue like this you will put yourself in financial jopady. For me I think %20 will be good to go. but if one can develop and nuture that characteristics, I think it will go a long way if there are other means of lively hood.

Your country does not matter. You have to consider your own particular circumstances... sure there might be some difficulties in upgrading your income, but still the percentages depend upon your own situation and how well you are able to make sure that you are investing enough without over doing it.. . and like other members mentioned, there might be some months in which you are only able to do 5% and other months in which you can do more than 20%, and there might even be strategies that you employ that allow you to attempt to be creative and even to plan things out like greyhats mentioned above the use of Excel and/or google spreadsheets to really attempt to be granular in regards to what you are doing, if you believe that it might be more helpful than sometimes figuring out ways to increase your cashflow by a bit more or reducing your expenses or other things like that.

I don't know much about holding Bitcoin since I was a victim of that fear that caused me not to actually buy Bitcoin and hold it, but upon reading most of the reply and comments here I find it very intriguing to see someone Complain about the situation of his country and how someone can over invest and it will be of negative effect to that person, well for reason I will like to think that what you have said is the truth @JayJuanGee, because it's normal to miscalculate in an investment, pardon me if I want to outside Bitcoin investment because such mistake can happen in other investment too so your Bitcoin investment shouldn't be something you will use to inconvenience yourself since you are the one planning and saving the BTC and you are the one working the money, I think you should know the specific amount or percent that will be convenient for you not to be a problem to your everyday expenses and besides we all know that nobody plans for emergency spending so like what sir JayJuanGee said, some month you can meet the specific target while some you don't and invest lower so if it's up to me I will just add whatever I missed during the previous saving to my investment once the funds is available since am buying the Bitcoin on a daily, weekly or monthly basis depending on your type of earning.

I have really learnt alot about DCA and other of investment in Bitcoin through this thread and all of them still drives to one major discipline which is, if you want to be a successful Bitcoin investor, it's just a matter of simply buying the Bitcoin, I think the issue of how well can you HODL is also there so before ever going into an investment proper strategy and planning must be followed.

Well hopefully you are putting your ideas into practice Jaycoinz.. especially since you mentioned that you had not been buying BTC, and surely some principles of investing are going to apply to other assets as well as bitcoin, but there are also some unique attributes of bitcoin that could cause you to go wrong if you are trying to consider bitcoin as just some other random investment when it happens to be a paradigm shifting phenomena that never previously existed, so in that regard, bitcoin becomes much BIGGER of a deal and a different category from other investments, even though any one investing into bitcoin may well still need to take similar kinds of risk management and cashflow precautions when investing in bitcoin as compared with other ways that s/he might invest, but the likely asymmetric nature of bitcoin as an investment may also contribute to some slightly different considerations too, in terms of the compellingness to at least put something into it rather than either sitting on the sidelines or even being way too overly whimipy about your BTC investment approach.