Quote from: Marvelockg on Today at 05:08:30 PM

Quote from: teamsherry on February 24, 2024, 08:00:32 PM

Sir I love your plan but I am not only holding for retirement, I'm quite young just under 20 and still earning not quite a lot, my plan is to hold for 20 years and get up to as much as 8 bitcoin in my stash, I know its quite small but as my income increases I'll increase my target, but why I see myself still beign on track, who knows the price bitcoin would be 20 years from now, 8 bitcoin could be a whole fortune, I'm still I my early stages of accumulation by the way and right now my emergency funds and reserves are quite the priority, luck me I don't have much expense on me, my parents still take care of quite a lot, so I use this opportunity to give myself a future in bitcoin.

Thanks for giving us such a candid advice 😊nice having you here

wow! I must say that I'm even jealous of how early Youve started making investment into your future. The mistake most old people make is that they assume that you only start investing into your future while you are approaching your retirement age. Accumulating Bitcoin during this phase of your life that you're still young with little or no responsibility to disturb your mind will definitely make it easy for you to accumulate Bitcoin with the use of the DCA strategy.

Imagine your parents give you a monthly allowance on a regular bases and you decide that whenever you receive it you will invest it into buying a fraction of Bitcoin? If you're consistent with the routine within the next five years you might possibly still remain under thier care you must have accumulated a very huge amount and it's at this stage that you wouldn't necessarily get bothered about selling off your holdings since you can literally ask your parents for money in cases emergency. If you're able to start accumulating at this age maybe at a small ratio because of your financial strength before you would have had a job, it would have become an harbit that you've grown matured into and it's just going to be easier to increase the percentage of your investment into an higher amount and with time you will be surprised that you've gotten something close to your 8BTC plan for the next 20 years although you might not necessarily get up to such amount of BTC within such space of time

Just because someone lives with his parents does not signify that his parents would necessarily serve as his emergency fund.

But we might be able to assume from the posts that some of the expenses are less than they would be if teamsherry were to NOT live with his parents.

Sure guys should take advantage of whatever benefits that he has available, and of course, when dealing with other people and relations, we might want to make sure that we are not taking advantage of them since those kinds of negative dynamics can also mess up our own credibility and impressions that others have about our abilities to be responsible for our own finances. So it is quite likely that even if we life with our parents, we should be striving to figure out budgetary matters (and perhaps even contributing to the house expenses) and figuring out out emergency fund, reserve funds and float.. and maybe projecting out into the future regarding our income and expenses, and surely young people will sometimes not have as much cash because they are spending time to build their job skills and maybe seeking out education and training that may well improve their future income even though their current income might suffer due to their receiving such training.

Quote from: GbitG on Today at 07:03:13 PM

Quote from: IvugeoEvolutionCoin on February 24, 2024, 01:26:09 AM

I am very happy to see that Bitcoin market is starting to grow day by day because I have invested in Bitcoin in 2023. I have full confidence in it because of which I have never been disappointed after investing. I know Bitcoin is a valuable asset. I am very proud to invest in Bitcoin. I think I have bitcoins. So I haven't decided to sell these invested bitcoins yet. I thought I'll keep the invested bitcoins and think about selling them after a few years.

Hmm, pretty interesting, mate!
I am also joyous to watch the Bitcoin raising because every Bitcoin enthusiast has a dream like you that the price of Bitcoin should be raised in the same way until halving, and as soon as the halving is done, the price should enter an extra stepped bull run. Honestly, I will be crazy if Bitcoin crosses $100,000 at the end of the year. I have also invested in Bitcoin like you and I hope it will make me a millionaire next year.

In the rest, brother, when Bitcoin crosses its $100,000, I will sell out 50% of my Bitcoin investment, make a profit book, and seek more investment opportunities to organize profit again.

The rest of you express your opinion about whether it will be better to sell out your investment in the bull market or not. Share your opposition with us.

Yes, there can be questions regarding how to manage your BTC holdings and questions regarding whether it is ever a good idea to sell 50% of your BTC holdings in one setting, unless you might have too many BTC... and so there can be questions regarding how many BTC you need and whether you have too many and do you have so many BTC that you can feel comfortable shaving off 50% at one price point.

The longer that you have been in BTC and the more BTC that you have accumulate, the more you might be able to justify selling off decently large amounts, yet even $100k does not seem to be a very high price, and there seems like there could be way more reasonable ways to manage your BTC holdings, even perhaps starting selling at $80k and spreading out your sales.. maybe 5% every time the BTC price goes up 25%, even that seems like a lot of sales (from my perspective), but it may well be more reasonable than selling a bunch (such as 50% at $100k) at one price point and then never being able to get those BTC back.

So, we know that each person has to make these kinds of assessments, and historically, we have seen a lot of examples guys selling way too many BTC too soon and then regretting it later... maybe within months or maybe even years later.

Quote from: I_Anime on Today at 07:18:07 PM

Quote from: JayJuanGee on Today at 04:38:10 PM

Time does fly by fast, and there are some folks who end up dying before they are able to enjoy their fortunes, so there are a lot of personal trade offs, yet one really powerful thing about bitcoin does seem that it has had some abilities to move quite a few people (mostly the accumulators and HODLers) into a higher financial status than they would have had ever been able to achieve through various traditional investment methods, so in that regard, there is a lot of power in that kind of transfer of wealth, and even though the upside potential of bitcoin is likely reduced, it still retains a very strong investment thesis..

Yeah alot of folks endup losing their Bitcoin due to death and even due to misplacement of their security seed phrase. Before they even had the chance to feed from their fruit of their labour.

There are likely some people who have lost their coins and who don't even realize it, and part of the problem is that they might think that they know how to access their coins, but they might not access them frequently enough in order to make sure that they do not end up losing access or even overly-complicating their BTC storage set up so that they end up locking themselves out of their own coins.

Quote from: I_Anime on Today at 07:18:07 PM

Indeed bitcoin still remains a strong investment, I stumbled upon a post days back Here in this forum. A higher rank user posted a post about comparing the profit you would made from investing $1000 10 years ago in either Gold, real estate and Bitcoin. Well at first stated that due to Gold recent value if one invested $1k 10 yrs back he or she would endup around making 2× their invested funds that means their portfolio might be around 2000 USD. While those that consider real estate would might made a max. Of 10× to 15× in the last 10 years depending on their location and all that. But those that invested with $1k in Bitcoin 10 yrs ago may endup making about 350× profits.

I will take a look at that thread later, yet I am familiar with those kinds of comparison numbers, and yeah bitcoin has outperformed all assets, especially the longer the timeline, and there are no signs that bitcoin is not going to continue to outperform all other assets..

One of the advantages that bitcoin has is that it is still in fairly early adoption stages, so even though there are not guarantees that BTC price will continue to exponentially go up with ongoing increases in network effects (as outlined by Trace Mayer), there is no evidence to the contrary regarding bitcoin's asymmetric bet to the upside in the coming 5-20 years or more.

Quote from: I_Anime on Today at 07:18:07 PM

You can see the massive different of Bitcoin from others investment. To me bitcoin is one of the best investment (if not the best) because bitcoin as indeed change alot of people lives for the better, ( expecially the accumutors and holders just as sir JJG said.) Though most of us wasn't among those set of people then.

We have to still remember that past performance does not guarantee future results.. so we have to figure out a position size that it comfortable and appropriate for ourselves.

Quote from: I_Anime on Today at 07:18:07 PM

But now still the time forus to be among those Bitcoin gonna change their lives for the better too. I know other invest are nice and all that but I would advise to focus on mainly on accumulating bitcoin first till you reach a certain state before thinking of diversifying. And please if i have said anything wrong in any chances please do so in correcting me.

That sounds right, and guys should be tailoring to their personal circumstances to try to be as aggressive as they can without overdoing it.. which sometimes they won't realize they overdid it until they find themselves in a situation in which they made the mistake... so frequently it takes patience to build up your holdings, and sometimes it might be good to earn extra money, but sometimes there are needs to invest in your education and/or improve yourself so that you can earn more later or that you improve some of your skills... so it is not always clear, including that some guys come to bitcoin without any other investments and other guys come to bitcoin while already having investments.. so they would likely have different approaches based on their circumstances when coming to bitcoin.