Quote from: Frankolala on Today at 04:44:49 PM

Quote from: JayJuanGee on Today at 12:36:33 AM

Quote from: Dr.Bitcoin_Strange on December 13, 2023, 08:47:49 PM

Quote from: Wind_FURY on December 13, 2023, 02:24:08 PM

But for plebs like us who don't manage billions, I believe the difference in profit would not be that large that it wouldn't really matter. Cool

Yeah, every investor will actually earn the profit they deserve. For example, people who buy 1 bitcoin at $20k and if they are still holding up till now and peradventure Bitcoin gets to $100k during the bull market, that means they have made $80k profit, which is a nice one, but we only invest that amount that we can be able to raise and invest freely without causing ourselves any psychological issues. There was a topic I raised in the past about some friends wanting to set competitions among themselves on who would actually invest more in Bitcoin.
In a normal sense, it's a good contest among themselves, but some of them did not realize that their financial income is very small compared to that of their friends.

I always tell people that it's more wise to just invest the amount that you can peacefully hold until any time that you have seen that the price is very bullish and you are satisfied with the profit you are seeing in your portfolio.

Some people see that their friends have bought 0.5 bitcoin, and they also want to buy that same amount of bitcoin without even realizing that their friends are earning more than them and also have fewer responsibilities than them.

Yep. If we are going to compete, we should be competing with either some abstract version of our alternative self or competing with someone of similar financial and psychological circumstances, and surely there are not going to be people with exactly our own same circumstances which is another reason to create standards that are individually tailored.

To me, it is not even good to compete with someone on their bitcoin purchase because you don't know the kind of plans that he had set aside to buy bitcoin that will definitely work for him because he has already strategized it base on his income. Since you are in competition, you will not know his strategy for you to follow and you might even lose focus to come up with your own strategy because all your focus is to have more btc than your friend and before you know it you will buy more aggressively and forgetting that there will be need of emergency funds and reserve funds since you think that the person with the highest bitcoin in his portfolio is the winner, forgetting about important issues that might arise in the later.

That is quite true, and even people with very similar incomes and similar expenses might come out differently in terms of performance, but one of the main performances is also being able to stay in the game and being able to balance a variety of your personal needs, including perhaps your need for insurance, so one person might choose to invest 10% of his income into bitcoin and another person chooses to invest 20% of his income into bitcoin, and surely the one who invested 20% might end up getting ahead, but then he never had a sufficiently-sized emergency fund, and he ended up getting lucky that he did not end up having to experience an emergency.. and the person investing 10% was more prepared for such emergency, even though in the case of this hypothetical, no emergency ended up happening... that is another thing with a sufficiently buttressed emergency fund, it might be less than 5% odds that the emergency fund will ever be needed, and so there are choices about how much to buttress the emergency fund, and realizing the fact that there could be some circumstances in which NOT having a sufficient emergency fund could totally wipe a person out... even though the odds still might be less than 5% that such emergency fund will ever come into need.

Quote from: Frankolala on Today at 04:44:49 PM

And before you know it, you will see yourself selling your bitcoin at a lower price to take care of some challenges, maybe health issues or emergency that must be attend to. This is why it is good to invest based on your capacity and don't be in competition with anyone to make you concentrate and stay focus on your bitcoin accumulation journey with the regular DCA method weekly or monthly. Just do your best and allow things to play out the way it is suppose to be, who knows if you will have a bigger income than the the person that you feel is buying more than you tomorrow, and you will increase your bitcoin purchase size which will be more than his.

Sometimes the mere fact that you are persistent and consistent, you may well outlast others who are in similar positions as you, and people will have differing ideas, and some times some people will get distracted into other areas to put their value, and sometimes we might not notice a difference for many many years.

I know some people who had quite a few advantages over me financially, and I even tried to get them into bitcoin, and they probably would have had been able to invest into bitcoin with way smaller of a fraction of their income (and available assets) than I had done. These days, there is no way that they would be able to come even close to being able to catch up to me, and from time to time, I heard them telling me about some expenses that they had that were part of their life that was not in my life, but much of that is just excuses - especially since there are other areas in their life in which they were always way more consistently spendy than me, so even if it was true that they had some areas in which they had more expenses than me, they made choices regarding where they were investing their time, money and energies, which happened to not at all (or barely) in bitcoin over the years, and even though I did not kill myself in bitcoin, I was moderately more aggressive, and consistent.. and largely just continued to hold my bitcoin through the years, which is nearly impossible for them to be able to purchase even a fraction of my quantity of bitcoin without having to make a lot of sacrifices, and even that probably would not be enough to catch up absent my suffering some kind of "accident" with my coins... which I am truly not ruling out as non-zero.

I am not even really competing.. but I do sometimes think of the comparisons... including another guy that comes up to me on about an annual basis since about 2016, and even I pretty much consistently say the same thing.. get started.. and I cannot even remember my first conversations with him, which he claims was in mid-2014.. which surely could have had been possible... but still outside of my memory... there were a few other guys with whom I supposedly had these kinds of bitcoin conversations in 2014.. even though I don't recall talking about bitcoin to others until late 2014.. but they were claiming that I was talking about bitcoin with them in mid 2014.

Quote from: Frankolala on Today at 04:44:49 PM

Quote from: Doan9269 on Today at 02:53:54 PM

[edited out]

This is why newbies need to start with an amount that they will not need for a very long time, maybe 10% or 5% for regular DCA weekly or monthly, and go on a long term ride for let's say 4-10yrs to minimize the risk because it is be easy for them.

Exactly.. a person can start out 5% or 10% of his income, and after a few years increase that to higher amounts.. but surely if it becomes unfeasible to increase more than 5% to 10%, then just do what you can, and even 5% to 10% will likely add up, even though 5% is likely only be equivalent to a whole years salary for 20 years, but 10% has chances of having invested a whole years salary after 10 years.