Quote from: SmartGold01 on Today at 08:50:44 AM

Quote from: JayJuanGee on December 28, 2023, 11:51:31 PM

[edited out]

And any digital investment that has a total of $100k as you said and $10k in bitcoin isn't secure investment maybe if such person is having $90k into altcoin shows that there is every likelihood for such investment to collapse since altcoin can't be trusted and who knows if those coin are shitcoin whereby they rise to some certain point falls back without yielding any further interest, or profits for the period of holding, all less if such investment & bitcoin carrying about 90 percent and the rest 10 percent for other altcoin investment then we can say is a secure investment.

Whoops.

I made the mistake of not specifying in regards to shitcoins, so we should not even have had gone there... to be referring to someone who is really retarded, and I was trying to suggest a kind of normal investment choice that someone might have various investments in his investment portfolio that includes stocks, property, bonds, commodities and cash/cash equivalents, and no I was not suggesting shitcoins, because shitcoins would be 10% or less the size of the bitcoin investment. So yeah, as soon as you bring shitcoins into the mix as if they were a normal thing to be tempted about, it shows that we are considering the starting points from different places in order to figure out what might be a practical and/or realistic posture for someone getting into bitcoin and maybe maintaining his/her bitcoin investment through the years.

So if the newbie bitcoiner is starting out with an investment portfolio of around $100k , then maybe he could be considering anywhere between 1% to 25% as his starting off point in terms of an allocation into bitcoin, and if he is more whimpy then he would go with 1% and if he is more aggressive he would go with 25%, so I was choosing somewhere in the middle, which also could have had been 12.5%, which also seems to be a bit more aggressive than any average skeptical bitcoin newbie might be.. .

So, if we end up flipping the script and talking about shitcoins being 90%, we are getting into gambling and way off this topic, and we may as well just either denigrate those kinds of folks or if we want to be more friendly, to suggest that they have those kinds of gambling/trading topics in some other thread.. because it is no longer really seriously about bitcoin... or the possible issues that we might be having with this thread both in terms of longer term bitcoin investing, but also some of the dilemmas that guys likely have when they are first establishing a bitcoin position and then ongoingly accumulating during ongoing and inevitable bitcoin volatility.

Quote from: Moreno233 on Today at 01:39:27 PM

Quote from: Promocodeudo on Today at 12:11:37 PM

As an intending investor in bitcoin, you would considered the risk factor before having the mindset of investing in bitcoin, bitcoin is a very sensitive investment that needs careful minds to scrutinize before the actual event, some people mistake bitcoin for another stuff that's why most people are not getting want they want in bitcoin, when you invest, just know that there are two things ahead either to withdraw or to continue which I know that know one will stop you from doing that, this is the reason why I always preach about individuals investing with what they have, don't borrow to entice anyone here or to make people believe that you can do it, just work with what you can afford to control and hold if you can.

To be specific, what are the risk factors of Bitcoin? Losing your money to hacks and mistakes or Bitcoin price dropping to zero? I have heard so much about the risk of Bitcoin, so much that we need to put it into context so others will understand and take caution. Unfortunately, a lot of people singing about the risk of Bitcoin cannot specifically say what the risks are and the highest they will say is that Bitcoin is volatile and therefore risky. Do we really have to worry about Bitcoin being volatile when we are considering how to buy and HODL?

I know that everything in life comes with some form of risk and Bitcoin is not exempted but magnifying the risk of Bitcoin in a discussion that focuses on holding for long is inappropriate because Bitcoin so far seem like a safer investment for a long time view. Most of the risk associated with Bitcoin affect those looking for quick profits like many people already stated here.

You raise a lot of decent points regarding the various ways to consider risk, and surely position size can be a very decent way of dealing with a lot of the aspects of the risks that you mentioned, and surely one can invest into bitcoin and to learn as he goes, and maybe if he starts out investing $100 per week and studying bitcoin, and maybe during that process he realizes that after 10 weeks he has invested around $1k, and maybe he needs to learn about and put private holdings into practice, which would also consider figuring out how much security is necessary and what are the various ways to hold his keys.

There can be a lot of responsibilities in becoming your own bank, and a lot of power too, but also some potential challenges in learning how to do each of these things, including that normies might not have a lot of time that they can spend studying and figuring out various aspects of bitcoin, so even after 10 weeks to 26 weeks (half a year), there still might be a lot of ways that a person still needs to continue to learn and put matters into practice - especially if a decent portion of value might need to go into private storage rather than being held by third parties.

Quote from: adultcrypto on Today at 02:04:19 PM

Quote from: deepblue01 on Today at 04:33:54 AM

Quote from: Litzki1990 on December 28, 2023, 09:38:43 AM

Marriage is a new relationship between one family and another family. Marriage means the responsibility of a family falls on a boy. Life before marriage is same and life after marriage is same. Society says get yourself a good job first then get married but I have actually seen many couples who got married without any job got success after marriage. Many people's success comes late and many find their success early. Along the way I have also met people who got a good job after completing their graduation but left that job because they were exposed to Bitcoin while studying and have invested in Bitcoin ever since.

The person I'm talking about was a bank officer but he left the job due to overtime rules and is now running a household depending on the investments he made in bitcoins in the past and tedding as well. Not everyone gets success by just working, many get success by doing something else. The person who left the bank job believed that he would be able to manage the family through his investments and trading which is why he left the job.

Since he was involved with Bitcoin since his student days, I would call this a long-term investment even though he had no plans for this investment. He converted the money he was making from the crypto platform into Bitcoin and today he owns about two BTC.

It was a good experience for him, but not for me.
I quit my job since 2020 because i believe crypto can feed me well. honestly i can hold up to 2 years only with my crypto holding.
But thing is not easy even bitcoin already break all time high because i short my btc at 45k till liqudated. i don't why i did that.
And Now i am sure that trading is not my thing

Perhaps you were inspired by CZ who quit his job, sold his house to invest in Bitcoin. Remember he advised that getting another job would not have been difficult for him. So, I guess you figured out how to survive without a job and still hold Bitcoin.

So tell me, since you were all in in crypto, how were you paying your bills? Were you selling part of your portfolio to feed and pay bills? What method did you adopt in accumulating your assets? I am asking as the time the price of Bitcoin was not up to the $45k where you sold, meaning you were selling in parts to feed and also pay your bills.

Your approach is not perfect for me because I don't believe in selling all my Bitcoin holding at once. You will definitely lose a good portion of the profits you would have made. Imagine you sold at $45k yet the price went higher to $69k. If I am not mistaken, most of the funds you realized from selling your Bitcoin have been channeled to shitcoins or other things.

The best would have been to sustain your job and invest in Bitcoin gradually and not with all you've got only to sell them all off at once.

These are good points because many people miscalculate their ability to live off of bitcoin (or even crypto and/or trading), and having a job (or cashflow) is very powerful in investing, and maybe if you have a cashflow and you even aggressively go way beyond the normal 10%-ish area of saving investing and you are able to get to 30% or 40% or even 50% invested into bitcoin, then you may well be able to reach one years salary expenses in just a few years, and surely after several years, you could reach to several years, and if your investment performs fairly well, you might be able to get to 20x to 30x your salary in 10-15 years, which would put you into fuck you status where you are able to quit your job, live off of your investments, and you would not need to dip into the principle, you would be living off the income from the investment...

and sure, I might be painting a rosy picture in regards to how long it might take to get to a point of being able to seriously and meaningfully pull the fuck you lever, and surely anyone who is pulling the fuck you lever too soon, is likely failing/refusing to consider and appreciate how much their investment portfolio needs to be worth before you would be able to sustainably live off of it without draining the principle.. which is also another problem with trading in that people who have to live off the income of their trading, is likely putting themselves in a position where they are never really able to get the benefits of compounding value because they are frequently and consistently needing to withdraw value from their funds that they consider to be "earnings and/or profits" but withdrawing those profits/earnings too quickly never allow them to compound and that person may never be able to become rich with such wheel spinning and likely inabilities to grow his investment portfolio to get to a size that is high enough to allow his withdrawals to be sustainable and even the needs for growth to be built in to the amounts that can be withdrawn to be increasing with the passage of time rather than either staying stagnant or reducing.

Quote from: cryptoWODL on Today at 02:45:31 PM

Quote from: Obim34 on Today at 12:34:16 AM

People tend to make the mistake of investing little amount of money into buying Bitcoin and lay their hope on getting huge profit within a limited time frame forgetting the higher amount invested the greater your profits.
The DCA has made it very easier for small investors to venture into the market and still make profit, despite the DCA approach being a long term strategy but you don't blame oneself as not being efficient enough to buy in bulk. Of a truth the market is most favorable to whales as a 10% up in price is already giving them good profits per what they invested.

There is no specific amount required to invest in Bitcoin. Nowhere is it written that investing in Bitcoin requires a huge amount of money to be invested. Anyone can start investing in Bitcoin with any amount of money.
There are also people who start investing in Bitcoin with a very small amount of money in the beginning and gradually increase it later.

I had a friend who knew about Bitcoin a long time ago and had a very good understanding of Bitcoin and is now a successful investor. When I asked him the reason behind his investment success, he told me that the first day he invested in Bitcoin, he started investing with just $27.He was then working in a government job and withdrawing money from there to invest in bitcoins.He used to work in the government and got a monthly salary of one hundred and fifty thousand taka, ie 1500 dollars. For the first year, he invested $70 per month.The following year he increased that to $100 and he increased his investment by $30 per month every year. Thus he invested in Bitcoin for 8 years.

Currently he has accumulated houses, cars and land with his Bitcoin investments. After seeing his success I now regret why I didn't start investing Bitcoin with him.
But I am following his investment approach and investing in Bitcoin and I hope to continue to do so in the future.

Actually, that story of your friend sounds very practical cryptoWODL. There is a kind of consistency, persistence and ongoing learning, with built in aggressiveness, and sure there are other ways of building up aggressiveness, but if we start out with a small amount, we can get used to it, and then we might have a whole year to plan ahead in regards to how we are going to deal with an increased amount going into bitcoin, which might be cutting of expenses or increases in income.