Bitcoin is an asset which needs your holding powers. If you will hold it and wait. So this will give a big surprise. But making it as a source of income this is not a good decision by the way. First make a passive income source which will feed family and then invest in Bitcoin. Means I want to say that if you will be mentally relaxed so you will invest in Bitcoin and can hold for a long time.
It is my point of view other may disagree. I just share my point of view.
I also quite understand the point of view that you explain because someone whose condition is quite relaxed and does not feel any difficulties in life, of course it will be easier to keep Bitcoin for a long time if that person is very confident and believes in Bitcoin. But I will still consider Bitcoin as a very good source of income even though everyone who believes in Bitcoin must also have other sources of passive income so that they can be more relaxed in holding Bitcoin and will not easily panic about their own living conditions.
I will not blame your point of view in this case because basically everyone has their own point of view in understanding all things, including this one thing. However, Bitcoin must always be considered good and even worthy of being considered as a good source of income so that each owner will continue to maintain their ownership very well without being affected by other things that come unexpectedly.
We should however always remember that we are going to only be ready of affording to make an investment on what we are capable of, this is not what should be done in haste or without having adequate and proper plan, we have to set a budget for how we want to go about with the kind of investment we are opting in for, take and manage the risk involved and have the understanding of the necessary requirements needed for it to turns a profitable one on us.
That the first thing you goonna think of before going into investing. Knowing you financial capabilities and all that, Also making appropriate on how you would followup with the investment. Like in bitcoin making good profit never a issue though most time the market can be highly volatile and all That. Aslong you enter the right and time and you keep accumulating more BTC for a long-term investment you would surely endup with great profits. Normally their are risks in all investment that need to be managed during investing but the risk in Bitcoin investing won't cause that must stress when it's come to managing it, to that of most altcoins.
Just know that someone who doesn't have a source of income and starts accumulating Bitcoin will end up selling his Bitcoin holdings one day to survive because he or she does not have enough money to save an emergency fund that will take care of his financial needs. I see your suggestion of starting a business as a bad one because inflation has made the price of commodities very high, and such a person cannot afford the money to start up a business that will make him or her start getting a profit in the short term to start his bitcoin accumulation.
Posted on: Today at 05:52:04 PMPosted by: Tmoonz
That truth though the reason why is always advisable to have an emergency funds is to prevent ones to sell their investment in an premature state. Because of some certain expenses, actually depends on the individual if is someone that still living under the roof of its parents. And he or she have a part time job he or she are doing to accumulate some quantities of bitcoin won't be more stress to them because most of the expenses would be covered up by their parents. So he or she can put a big percentage in investing by using the DCA strategies also. But still anyone who are ready to invest on bitcoin no matter they would surely find area to accumulate a certain quantities of bitcoin even when they can afford 1 BTC or higher quantities but using DCA as time goes on that little quantities they are accumulating would end up being something nice and profitable