Quote from: Hypnosis00 on February 01, 2024, 09:24:35 PM

Quote from: JayJuanGee on February 01, 2024, 08:13:41 PM

Quote from: Nangiconference on February 01, 2024, 06:15:54 PM

Quote from: Barikui1 on December 13, 2023, 08:12:58 AM

You must have a source of income if you must succeed in your holdings.

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

I came across a post where someone said 'he invested his last dime while he was faced with starvation and homelessness because his conviction did not allow to touch his capital. He stated categorically that he feeds once a day whereas he was having an investment in bitcoin'. That condition is not an easy one. Judging from my perspective, I can't endure hunger, be homeless and feed once just to hold my investment. My brother if you die, your investment will lost.
I think before investing there should should be other source(s) of income because life must be in continuace.

Sometimes extreme examples will help to illustrate these kinds of various points regarding both discretion and even figuring out a balance, including that each of us is not going to make the same choices in regards to how to find balance, if any.

Some times people do end up making the wrong kinds of choices, which might be a demonstration of someone's life to be continuously making bad choices and part of the reason that some persons are living on the very edge and without any kind of normal financial cushion has to do with their ongoingly making wrong choices, and perhaps sometimes not even being able to get out of their situation once it gets to such a bad place that it becomes harder and harder to build some kind of a steady income stream... because sometimes even a homeless person might come to realize that he needs to change his ways and figure out a way out of his situation after he had gotten himself into such a place..

Most of the time people realize their mistakes and wrongdoings when they are on the edge of suffering difficulties in life and think --why do I never save money and invest when I can still have a good job and huge income? People usually don't think about preparation instead, they prefer to make themselves happy today and suffer later. That is why only a few people are into doing business while a lot of people are in the labor force even though they are old already as they don't have other options to live.

Even in crypto, people already hear about Bitcoins but still ignore the opportunity. Yes, it is really the choice of the person but sadly most of the time they choose the wrong one.

I would not suggest that it is obvious to choose to be a business person rather than working for someone else, and a lot of businesses either fail or the owners do not really end up gaining more than what he could have gained by merely being an employee - and surely certain kinds of employees can receive greater wages than others, and sure there are some places where employees cannot really make very much money at all without somehow advancing their skills or their education.

Maybe a related part to investing is being able to save and therefore having more income than expenses, and so there could still be ways that regular people are able to save enough and invest enough in something like bitcoin, when some of those opportunities had not previously been available to them through traditional investment channels. So of course, we have opportunities with bitcoin, and no guarantees, and also ways that guys can screw things up if they are not exercising discipline in their own investments to try to make sure that they are earning more than they are spending and so therefore they are ONLY using the money that is left over which is referred to as their discretionary/disposable income...

and yeah, the guy on the street who hardly has anything to his name and he is not sure about how he is going to get his next meal, he likely is not in a good position to invest, even though there could be ways that he might be able to organize whatever he does have so that he might figure out if he can earn an income that is greater than his expenses, and so therefore he would be able to invest.. even though surely many regular people would like to have a bit of comforts in terms of having a roof over their heads and also food and other kinds of basic security and needs.. so that he can make sure that whatever he is investing is not actually needed for the next 4-10 years or more. If he is just betting on the potential for a short term upswing in the BTC price, then he is not investing, but instead gambling.

Quote from: Asuspawer09 on February 01, 2024, 11:38:15 PM

Might be better if we already have a multiple sources of income before even stating on investing on Bitcoin but for sure there are still some people that is investing on cryptocurrency that only have it as the only investment. Probably risking everything on cryptocurrency, i dont really blame them since when im a newbie that is what I do as well putting and risking everything on cryptocurrency without even realizing how risky cryptocurrency is, I just started to realize it on experience on investing in vryptocurrency when the market started to drop and i realize the market cycle the bullrun and bear market. With that I start saving and investing on my financial foundation so that even if cryptocurrency fails I still have a backup plan and i could easily recover.

Your frequent use of the term crypto currency and also suggest that people investing into crypto currency might know know what it is or its risks are.. and your whole post makes little to no sense, except for your own claim that you are a newbie..

Hopefully you are not investing in shitcoins, and hopefully you know the difference between bitcoin and shitcoins.. that would be one of the best places to start. Start with bitcoin and figure out bitcoin for several years before you go out an explore shitcoins and then just confuse yourself to such an extent that you don't even seem to know what you are talking about.. as if such a thing as crypto actually exists.. it is a dumb, confusing, non-specific, misleading and sometimes disingenuine term, even if you hear others speaking and/or writing in those kinds of vague ways.

If you don't want to go on being vague and speaking in gobbledy gook, then your responsibility should be (at minimum) to learn the difference between bitcoin and shitcoins..

You only use the term bitcoin one time in your post, so it causes me to speculate that you might not know what the fuck you are talking about.. because hopefully people are not investing into crypto.. that would be dumb.

Quote from: Tmoonz on Today at 01:13:50 AM

Having a reliable source of income is very fundamental an essential but it is not enough rather working towards having a meaningful and determine purpose is what makes it more colourful. There are those who have this reliable source of income but create room for mismanagement they even become indebted before the end of month yet they have reliable source of income, curtailing budgets and expenses according pressing needs could help in achieving individual goals in life and in Bitcoin accumulation. Having a reliable source of income flow makes some individual to be too comfortable and at such spending extravagantly over things that may not be necessary. So having a reliable source of income in not just enough but rather having a better control over your income flow is what Will give the best investment opportunities.

The less reliable your income, then the more that you would need to make sure that you have an emergency fund, reserves and/or a float... other wise you should not be using whatever money you do have for investing..

Of course, if investments get to a certain high size, then the investments can be used as a source of income, but if any of us is in the building stage of our investment many times it is better to build the investment for a long term prior to drawing from it early.. since there is a lot of value and power to build an investment over a long period of time, and there are increasing chances that a longer term investment is going to be able to compound upon itself several times.. especially in something like bitcoin, even though bitcoin has had a solid historical performance in terms of providing great returns over time, there are no guarantees. .even while at the same time bitcoin's investment thesis does not seem to be getting weaker, either..