Quote from: Yaunfitda on Today at 07:11:34 AM

Quote from: Publictalk792 on Today at 06:08:23 AM

Quote from: Obim34 on Today at 05:20:20 AM

Quote from: JayJuanGee on Today at 03:53:15 AM

You must live in a small world, or you have been overly influenced by "trading" talking points.

People talk about building and passing down generational wealth, so that is not about exiting, but instead about building, accumulating and maintaining pristine assets.

If you build enough of them, then you either do not have to sell any of them, or the wealth generates other kinds of income and you live off the income from the other cashflows that are generated.

Honestly JJG, I'm overwhelmed with your response. Your influence and guidance in my Bitcoin accumulation journey can be greatly felt. Just like a naivete I was thinking in every investment there is to be an exist from it but then I was wrong. You are more of an eye opener in this forum.

Exactly! You are right I also read his posts carefully and he give more and more knowledge. I like his style of typing most precious thing is that he gives examples. With these examples we Understand that what is the point and what is he want to say.
He writes a point briefly which shows everything. I mostly see when anyone has a point or he/she is on wrong side JJG try to his best to teach him/her. I mostly visit his post history and chech what is he saying and why is he saying to get more knowledge from him.

And it just shows how JayJuanGee is knowledgeable as far as Bitcoin investing is. This guy literally help us on how to manage our funds, like accumulating and building generational wealth. And it's not just for us though, sure we can be rich through our Bitcoin investments and it will make us feel great. But if we can built wealth today and then passed it on from generations to generations, then we can make their lives, the lives of our kids or even grandkids be better by doing some actions today, requires intentional financial planning, investment strategies, and a focus on creating a legacy that extends beyond the current generation. And with JJG helps and others well informed members here, asking for their guidance and sharing it and even correcting us from time to time so that we won't waste time, it's already a blessing being here in the community with this great mentor, in my opinion.

That is an interesting point about building legacy and/or wanting to pass down wealth versus figuring out ways to use the wealth by the end of our life times. Surely there are some people who have clear targets, such as heirs or even a legacy in which wealth is passed down, but sometimes even rich people might have limits in terms of how much wealth they would like to pass down to their children, because they are concerned about their children's ability to build character and not to take their wealth for granted.

There are also surely some people who want to try to consume all of their wealth, but they want to also live a good life while they are still alive, so a goal may well be to NOT outlive your wealth and/or to try to use it all but still have plenty until the end. Those seem to be difficult to achieve balances, so many folks who actually become somewhat wealthy who fear outliving their wealth end up erroring on the side of maintaining a decently -sized financial cushion so that they never have to live in poverty - yet since death cannot exactly be timed, they may frequently end up kicking the bucket prior to being able to use the wealth... but I am not going to suggest all cases end up in that kind of way because any of us likely would have to have a lot of wealth in order to be able to pay for some of the health care expenses that exist in places like the USA .. so I would imagine that those who do not end up with those kinds of medical expenses towards the end of their lives end up having a greater financial cushion when they end up dying because part of the reason that they keep the extra financial cushion is to prepare for some of that unknown end of life medical expenses situation.

Which then also might bring us back to BTC, and wouldn't it seem crazy to have large portions of your wealth in BTC if you are potentially needing a lot of liquidity within less than a 4-year period, and bitcoin has not been around long enough to really reach a lot of the cases in which already old people have been investing into it, so anyone who might initially be investing into bitcoin might not want to completely eliminate bitcoin from their investment portfolio, even if they might not be able to guarantee less than a 4-year investment timeline, but they should be reducing rather than increasing their BTC exposure amount if they are not sure about how liquid that they might need to be within less than a 4-year timeline..... so anyone who might be in his late 60s, 70s, or later, or someone who has health conditions that leave uncertain his ability to live without great expenses, he might have to be more modest in his BTC investment, even though he might get lucky and not end up needing his BTC investment within the next 4 years or longer.

Quote from: Mayor of ogba on Today at 07:51:21 AM

Quote from: Wind_FURY on January 18, 2024, 05:25:11 PM

Another DIP buying opportunity might be coming! I'm not sure how low, or if this correction continues to fall under $40,000, but buying some Bitcoin with any sort of discount should definitely be "greeted" with open arms. Don't miss the opportunity!

Buy the DIP, and HODL!

Since I've been accumulating my Bitcoin for a long term, I'm not worried about the recent dip in Bitcoin price. I'm happy because I will seize this opportunity to continue accumulating more Bitcoin at a low price. I hope this dip will last for a week so that I can use the money I kept to buy Bitcoin when there is a dip to accumulate more Bitcoin.

That is the thing about the dip and the length of time of the dip, we cannot know how far it will go or how long it will last.

Quote from: Patrol69 on Today at 12:58:06 PM

Quote from: Wind_FURY on January 18, 2024, 05:25:11 PM

Another DIP buying opportunity might be coming! I'm not sure how low, or if this correction continues to fall under $40,000, but buying some Bitcoin with any sort of discount should definitely be "greeted" with open arms. Don't miss the opportunity!

Buy the DIP, and HODL!

The market is now at $41000 but there are many investors who are waiting for the market to come below $40K. If investors pledge to come below 40k then they might miss out on investing now. The market broke out of the barrier of $41K and went down, but the market did not last long, and soon the market went back above $41K. There isn't much difference between $40K and $41K when it comes to long-term investing. If a person invests one bitcoin the dollar difference will be one thousand dollars but most investors will not invest one btc at the same time. If under $40k is a good time to invest then I would say $41k is not a bad time to invest either. Investors invested $30K $40K and a maximum of $48K.

You have already addressed your own dilemma that you set forth in terms of people do not tend to buy 1 BTC at a time, even though so many people commit the error or thinking in terms of whole bitcoin units...so maybe it is difficult to blame you for an error that so many folks make, especially bitcoin newbies. Maybe the longer that any of us are in bitcoin, the more that we get used to some of the ideas of thinking in terms of a fraction of a bitcoin, and of course another solution is to talk in terms of satoshis, but even in bitcoin-related circles like this here particular thread, there are not very many instance in which we are even talking in terms of satoshis.. even though satoshis might be easier in terms of it being at least positive numbers rather than various numbers of decimal places... so maybe even if we were talking about bitcoin, we might refer to a real large investment into bitcoin being 0.25 BTC or more at a time (which is right around $10k), or more realistically maybe we would move the decimal place to be talking about 0.025 BTC or 0.0025 BTC, which would be right around $1,000 and $100 respectively.

Quote from: Patrol69 on Today at 12:58:06 PM

Investors have invested step by step but no one has done wrong by investing. Those who bought bitcoins during relatively high prices will probably sell bitcoins at relatively high prices, there will be demand to sell as much as to buy. Those who are waiting for the investment of forty thousand dollars can invest according to the current market if they want. I hope that your investment opportunity will not be missed.

Quote from: salad daging on January 18, 2024, 07:36:53 PM

It wasn't like that for me to begin with:
Let's say I have a $1000 reserve fund, it will remain undisturbed until I need it again in another emergency.
When you start investing, you will start from scratch, no need to take $300 from the reserve fund.
Let's say I start again from $20/$50/$100 per week/month depending on income, well then this will be more for me practically this investment will continue to grow while I still continue to do DCA all the time so the emergency fund remains safe while the investment is still running until now.

When there is already a reserve fund, you will feel very safe when other things are needed, now it only remains for you to play how aggressive the level of DCA is every week it also depends on you managing it well if 30% of the monthly salary is invested in bitcoin I think it is more than enough while the rest you can use in your expenses even you can add 5% to the reserve fund, but for me it is enough if the emergency fund is enough to last for 6 months.

Reserve money means not spending that money all the time and spending that money for extra needs. Amount of money for investment is different and reserve currency is different. The investor will use the reserve currency when he is unable to invest regularly. For example, an investor is regularly investing $50 or $100 every week or every month, but due to excessive demand for money, it is not possible for that investor to invest that amount of money at that time every month or week, then that investor will get the benefit of investing by using money from his reserve. Thus, after investing from the reserve currency, when the additional financial needs of the investor are met, he can make up the amount that he used for investment from his reserve currency later.

Although most investors do not keep reserves in their investments, it is definitely necessary in their investments. If you suddenly stop investing after investing for a few days, then you no longer have the same mindset to invest later. That is why it is very important to keep money in reserve so that the investment mindset is maintained properly and if you keep a reserve, the investment will definitely be much stronger.

These are good points about the potential of having a reserve fund that ideally should be separate from your emergency fund, and so in times like these, we can see why there is some power in having a reserve fund - whether it is used for buying BTC dips or if it is used merely to have some psychological comfort that you have some extra money available, even if the BTC price has so far dropped in the ballpark of greater than 20% from its latest local top of $49,048 on January 11th.

Again, how much of dip are we going to get, and how long it will last is still to be determined, and so it is way better to have a problem in regards to how to use the reserve fund that we have already created rather than either not having one, or having a deficiently-sized one, so for example if we have a $1.6k per month income, a weekly DCA of $100 per week, an emergency fund that is $6k (6 months assuming $1k per month of expenses), and we have another $1.6k in a reserve fund, we might already have some ideas about how we are going to spend our reserve fund or how much of it we are going to use at certain BTC price dips, but we still might play it by ear in terms of if we might not have any exact plan for how to spend the reserve fund yet our emergency fund is also robust... and maybe if we are still thinking about the matter, then we just continue with our weekly DCA.and maybe we throw in a bit extra from our reserve fund to double or weekly DCA so that we are not necessarily using it all at once while we are contemplating whether we might want to lump sum some additional purchases or if we just maybe act more incrementally in terms of the changes that we make.. including considering that what we do may well have to do with our already preparations with our own place in regards to the 9 individualized factors.

Quote from: Salahmu on Today at 03:45:39 PM

Quote from: Fara Chan on Today at 09:45:26 AM

The recent price drop is indeed very important to take advantage of, especially for those who are trying to collect more Bitcoin at $41K. Because I think the current decline will not last too long in Bitcoin because there are still some good influences for the next price increase this month even though it happens more slowly.

actually with the Bitcoin ranging between $40, 854 and $45k is actually the right moment to take advantage of this great opportunity by starting accumulating immediate because if you can remember sometime ago when the Bitcoin was moving similarly as what is doing now such as ranging between $22k to $26k and most investors refuses to take advantage of the price thinking it will drop more before they could start buying and before they realizes themselves Bitcoin has moved to $30k and they were still thinking it will fall until they saw Bitcoin at $45k+ that's when they no that they actually missed a good buying opportunity, however is not actually late for them to start accumulating Bitcoin because it has presented another buying opportunity for them because it has falling from $45k down to $40,854 now so perhaps they should stop expecting more dip and start buying because there is every chances that the next move of Bitcoin will actually be positive one and also considering the upcoming halving there is a great possibility of Bitcoin surpasses the All-time high and creating another one, so let's stop waiting for dip before accumulating.

Let's go back to the person who had already created both an emergency fund of 6 months and a reserve fund of $1.6k. He may already have an agenda because in the process of building an emergency fund and a reserve fund, he might have had some ideas about how he might use the reserve fund, so it is quite possible, that he already started buying BTC with his reserve fund at $45k or something like that, so maybe every $1,500 the BTC price drops, he buys another $100, so if he had $1.6k, then he would have 16 possible buy orders at $100 per buy order, and of course, there are a variety of other kinds of ways to divide the reserve fund, including considering that using it at various triggering points might take time to play out, and maybe he is earning money at the same time, so some of the money of the reserve fund might get replenished depending on how long it might take for a dip to play out, whether he gets paid weekly, twice a month, monthly or some other intervals.