Quote from: usekevin on Today at 07:44:07 PM

Quote from: JayJuanGee on Today at 05:33:58 PM

You are not wrong Obim34 - however, the poor person should be trying to set himself up, to the best of his ability, so he does not have to think about or consider the possibility of selling his BTC, even if it becomes very tempting. In other words, the greater and greater is the emergency fund, then the more likely all of the needs can be satisfied, and the BTC investment can continue to ride and serve as a kind of delayed gratification rather than considering that it needs to be tapped into in order to improve current needs or wants.

Maybe it takes 4-10 years or longer, before both the bitcoin portfolio and the emergency fund is built up high enough that other resources can start to be directed more towards current needs, wants and improving various aspects of the standard of living... and so there can be quite a bit of value in finding happiness in terms of living within your means and building your investment portfolio for a later date.. and hopefully you would not be so old in 4-10 years that you are not able to enjoy the various incremental ways that your BTC investment is likely to drag your standard of living upwardly with the passage of time.. even though it can seem like such a long time to get there.. especially for some guys who are investing in the $10 to $20 per week range, and it takes a year to invest $520 or $1,040, and it takes 10 years to invest $5,200 or $10,400.. so it could surely take a long time to build up your investment portfolio (including your BTC) in such a way that you might not feel as poor.. even if you still might not be exactly rich and might not be able to catch up to the rich person, but you can surely improve your own situation, even if you are disadvantaged in terms of the starting places of your finances.

The standard of living can be changed by keeping the funds in the bitcoin for the longer period like 4-5 years.The bitcoin traders can skip to use the emergency funds in the bitcoin trading,but they can inverse the free money in the bitcoin trading.Some people use the free money for the gambling,but it was not sure with the profit from the gambling.But the bitcoin traders use the money to multiple by just holding in the bitcoin.Many people who hold since January 2023 was gain huge profits at the end of the year.This was the gift of many bitcoin traders when the bull run occurred before the Christmas of last year.

Yeah, but we are not really talking about trading or gambling here. Of course, there can be ways to gain income from any source and then to use that money to buy bitcoin and to hold bitcoin for a long time, once the bitcoin is purchased.

Quote from: usekevin on Today at 07:44:07 PM

Quote from: JayJuanGee on Today at 05:33:58 PM

I completely agree that each of the newbie accumulators need to mostly focus on DCA, and if they want to try to wait and time dips, they also should be putting deadlines on themselves, so for example, if they have a weekly DCA, and they want to try to time the dip within each week, then they try to time their BTC buy for when the price seems to be most dipped within the week, but if the price is only going up, then they are going to have to have a deadline.. such as Saturday at noon or whatever time in which their definition of the week ends and the new week begins, so they make themselves buy by the deadline if they had not bought earlier in the week.

The price of the bitcoin may vary in the same week,the bitcoin trader should buy at the bear market.Bitcoin is the only coin which has huge amount of day traders in the market,the minor change of the bitcoin price was used by the day traders to make the profit.The bitcoin had the halves this year,so many bitcoin holding people waiting for the next bull run from the 42k mark.Most probably the bitcoin price will reach the new all time high in the month of April and holder get a chance to win a profit from holding.

If you are merely suggesting that the BTC investor/holder is doing better than the trader, then sure there is likely quite a bit of truth in that, and yeah many times the trader is going to have to employ some skills in terms of making sure that he is profitable no matter which way the BTC price goes, and surely some traders get reckt pretty bad, even if they are being conservative, if the BTC price keeps going up and they keep trying to figure out where to enter and the BTC price is not meaningfully and/or sufficiently correcting for their trade.. and so the buyer and holder does not have that same problem, and that is part of the reason that BTC has been such a great investment for so many years for the one who is emphasizing accumulating BTC and mostly holding for the long term, such as 4-10 years or longer.