Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy the DIP, and HODL!
by
jrrsparkles
on 06/11/2023, 08:21:27 UTC
⭐ Merited by JayJuanGee (1)

Surely I appreciate that goals can be set, and surely we have to consider what we are able to do in the short term, and perhaps continue to work towards longer term goals, so yeah, maybe every year or even more frequently, we are assessing whether our current plans are bringing us in the right direction and if we believe that we are making progress towards our longer term goals that might have a lot of variables to reach the longer term goals, but with the shorter term goals, we know what is in front of us right now and we can work towards that.

A brand new person into bitcoin could realistically set a goal to try to get to 5 BTC in 10 years, so then s/he may need to consider how to get there, and surely s/he might have current cashflows that might allow him to invest $100 per week into bitcoin, but so then after 52weeks, such person would have had invested $5,200 into bitcoin, so that might not seem realistic for getting up to 5 BTC in 10 years, so there will need to be some attempts to increase income and/or decrease expenses, so maybe if there end up being ways to get the investment amount up from $100 per week to $1k per week, then the 5 BTC in 10 years becomes more possible, but it still might take a while to be able to reasonably get to such goal if the $100 per week is already a bit of a struggle.

Each person has to attempt to set goals in reasonable ways that are achievable, which may be part of the reason that you had suggested having shorter term and longer term goals, and the shorter term goal of this particular person might be trying to figure out how to get his/her disposable (discretionary) income to go up from $100 per week to $1k per week, and if it might take 1-2 years to accomplish such shorter term goal, then maybe the goal of reaching 5 BTC in 10 years is seeming more realistic, but if the person stays down at $100 per week, then there may well need to be some other thoughts and/or perhaps changing of the longer term goal to become more realistic..
Yep, you explained it clearly what I am trying to say. I am not known for being such an explained writer so that caused the miscommunication of my ideology about short-term goals in Bitcoin. That is why you are known especially for the way of your writing style and how is it even possible to make such a wall of text for every post and each user too. Cheesy

Let's come to the discussion if someone is just starting and they can only afford to invest $100 per week then its okay but if they settle for the same amount throughout the 10 years then its not smart, as you said they need to work in increasing their cash flow without the capital the investments will become less profitable so to be HODLer they also need to keep moving forward which is save more than before and accumulate bitcoin with it and over the years the returns will pay for all the efforts that someone made and invest every week no matter what.

and I am not even sure if I would consider 10 years as a reasonable long term goal if we are talking about finances and we are talking about someone who might be new to bitcoin, but if someone is already investing for many years, which you suggested to be your situation @jrrsparkles, and I look at your forum registration and it is around the same as mine... and I had a bit more than 20 years investing prior to my registering with the forum and getting started with bitcoin.  So surely timelines are going to vary based on age and also there could be considerations of other investments and various other learnings from past strategies - and surely how many BTC that we might hold could make some difference if we are saying that we want our first 5 BTC within 10 years or if we might feel that we want to add 5 BTC to our existing investment portfolio in 10 years, to the extent that it would be necessary to add 5 BTC to a portfolio in the next 10 years for someone who might already have several BTC in his/her investment portfolio.


Traditional investments differ a bit here and 10 years is not that long for someone who is an investor but the people who are coming into the bitcoin especially due to the buzz about its return even consider 4 years to be very long term and that is what becomes the issue of the millennials so we also have to suggest some conservative ideology to make them to be an investor and if they start to feel the benefits of being HODLer then they eventually will continue further on their own.