Quote from: Agbamoni on Today at 04:59:49 AM

Quote from: Salahmu on November 21, 2023, 08:26:03 PM

Quote from: Litzki1990 on November 21, 2023, 02:21:49 PM

Quote from: Salahmu on November 20, 2023, 07:43:24 PM

Actually you have said it all because for a beginners to have develop passion on investing on bitcoin is when he is being shown the practical aspects of the learning as such that if his normal intentions is for accumulating using $10 on a weekly basis but however since he is still getting use to the basis of bitcoin he could start with $5 weekly accumulation at least to get use to the bitcoin investment then later he can continue with his normal amounts he intend to use in his accumulation.

So perhaps if a beginners is investing, it could help enhance or encourage him the more in times of learning about bitcoin and investment instead of going through all the learning without really knowing or seeing what investment is all about perhaps the beginner may be discouraged on the process because in times of investment is always wise to be learning as you are investing because that would be your propelling factor or motivation

Investing in Bitcoin fulfills many hopes of an investor. I wanted to share this topic but it was not shared but today I feel that I should share this.
A few days ago a member created a topic in the Bitcoin Discussion section and he headlined his topic Paid for my wedding by investing in Bitcoin. The member probably invested in Bitcoin when it was worth $25K and after $37k he sold his investment and paid for his entire wedding with the money he made from his investment in a short period of time. When the member invested $25K he didn't even know that he would be able to pay for his wedding with his investment profits. But the member did not fix his marriage on the basis of his investment profit but his marriage might have been fixed and he might have managed the money for his wedding expenses in some other way. But she/he invested and she made a profit from her investment and paid for her wedding with a portion of the profit, where she did not need to manage money in any other way.
In conclusion, the investment in Bitcoin fulfilled a small dream of his, if he was not married at that time, the member might have held his investment for a longer period of time in the hope of profit, and if he had held his investment for a longer period, his profit might have been more.

One of the factors that determines an investor is determination, Goals and commitments, so however as an investor who saw a great potential on bitcoin or a particular investment and you decided to invest on the bitcoin, perhaps you should be committed and have a determination that no matter the circumstances you will stick to your investment and use other source of income to settle those needs while allowing your investment to grow.

Actually I'm not disputing his decision on selling off his bitcoin to marry his wife but on the contrary he has no determination as an investor because after spending all his bitcoin on the wedding he will be left with know option but to start all over again and maybe the bitcoin price may have gone up that he will find it difficult to buy again.

Perhaps as an investor what he should have done is to adjust the wedding so that he could workout the money from other source instead of selling his bitcoin, I'm saying this because I'm a business man and trust me I can never close my business to pay for my wedding because what if after selling closing your business and after the wedding you have no money to feed your wife what will become your faith. Perhaps there is a saying that he who fails to plan, plans to fail.

Thats good statement. The wedding can wait for more years and proper planning should be made toward it. It's hard to believe that people will jeopardize their plans for the future by selling off their Bitcoin for a one-day event. If we look at it again the persona here was clearly into Bitcoin for the short term. Because am certain that someone investing in Bitcoin for decades/long term should behave differently from someone investing with the intention to pay for a wedding event in a year or two from now. The fact that he has to sell his Bitcoin for a wedding means he had some improper planning. Someone is planning for a wedding should have gotten a wedding fund account, which means whenever he receives his income he can allocate some money into the account, in a more preferrable manner he could decide to reduce the percentage of money he allocates for Bitcoin and emergency fund and set saving goals based on the budget for his wedding.

The main idea is to invest the amount of money you know you can afford to lose, so you won't have to sell your Bitcoin. If a person ends up selling his/her Bitcoin because of a life invent even if sometimes life can be unfair, it indicates that they have invested more than they were comfortable risking.

The most important thing here is an investor's plan. If I make a visionary plan with Bitcoin, I must think of Bitcoin. I know everyone has their own thoughts but those who can apply those thoughts correctly will get a better reward in the future. Marriage is important for every person but the cost depends on the person. If he is not financially sound then he should have taken the time to think about how he will carry out his program while holding on to the bitcoins.

We often say that we need to plan for the long term with Bitcoin but not all of us can hold Bitcoin for the long term. Moreover, the mistake we often make is that the money we can lose should be invested in bitcoin. The money should not be invested which cannot be held for a specified period of time. We all have a positive opinion about Bitcoin but if we don't invest in it without plan then we will have more chances of loss than profit.