Quote from: JayJuanGee on March 16, 2024, 02:03:50 AM

So if a guy is able to live off of trading and live a regular life, while at the same time having enough left over that he is able to save between 5% and 25% of his income into bitcoin, then he is doing even better because he is saving for a future - otherwise, he is going to be working his whole life and never getting anywhere.. so I am not sure if that would be a very good way to live... and so yeah, sure how are you going to measure the matter in terms of comparing to other kinds of work that he might be able to do.

In traditional finance, people are generally urged to save 5% to 25% of their income for retirement or other long-term objectives. You are correct in suggesting that someone who can do this with Bitcoin while simultaneously meeting their basic necessities is doing even better. This is because they are not just saving for the future, but also hoping to profit from Bitcoin's potential appreciation over time.
It's a truly unique and imaginative approach to think about Bitcoin savings. Treating Bitcoin like a typical savings vehicle allows users to benefit from both its short-term usage (e.g., as a payment mechanism) and its long-term potential (e.g., as an investment). It's not all about the profit though.People who use Bitcoin as a savings vehicle may also feel more in control of their finances and less reliant on traditional financial institutions.

Quote from: Negotiation on March 17, 2024, 09:24:13 AM

Quote from: peter0425 on March 17, 2024, 08:42:38 AM

Quote from: JayJuanGee on March 16, 2024, 02:45:54 PM

Quote from: peter0425 on March 16, 2024, 08:42:44 AM

Quote from: JayJuanGee on March 16, 2024, 03:24:21 AM

Quote from: peter0425 on March 16, 2024, 02:33:34 AM

but yeah since 2022 I started to recover again and now those mistakes will never happen again.
thank you for reminding us how grateful we are being in Bitcoin investing.

It is good that if you started back up in 2022.. so yeah, keep going and keep building your BTC stash, even if it is just a modest amount of $100 per week or whatever you can do..

actually that's what I am doing now , 100$ a week or sometimes even a little higher when there are extra work for a week, not minding how much the price is because Like you i believe that bitcoin will be here and growing in the coming years and not just now and tomorrow.
You are truly aspiring us small investors to keep trusting this great currency..Thank you.

So yeah you surely can be flexible with the amount that you put into bitcoin based on your cashflow and expenses, and surely you have to be careful to make sure that you are not overdoing it. and you have some other funds in case you have some kind of an emergency that might relate to your income or your expenses,

I'll keep that in mind mate and yeah , Like what I said I maintain that 100$ weekly not unless there are something comes out of extra that I am adding to that amount because 100 usd is the only funds I can afford to keep in Wallet.
but aside from that all of my job pay gets directly to my wife as we agreed to that in which she will allow me investing but the family money will be for her to budget.

If you have a job besides earning bitcoins and if your job is enough to meet all your family needs then in my opinion you can keep all the bitcoins earned from bitcointalk. Or invest as much as you can by planning for a long period of time that you will actually hold for. Here is the weekly or monthly saving method which seems to me to be the best method.

It's quite sensible and logical. The strategy you describe is also referred to as DCA (dollar-cost averaging). It's a method in which you invest a certain amount of money on a regular basis, regardless of the investment's price. This helps to level out market fluctuations and reduces the danger of financial loss.
One of the primary advantages of DCA is that it removes emotion from the investment process. When the market is rising, it's easy to get caught up in the enthusiasm and invest all of your money. However, if the market falls, you risk losing a large sum of money.
By investing a fixed amount of money every month or week, you take the emotion out of the equation and focus on the long-term goal of building wealth. It's like putting money in a piggy bank over time, every coin counts!

There is a lot of scientific research that supports the effectiveness of DCA. One study found that investors who utilized this method over a 10-year period outperformed those who tried to time the market. So, while it may be tempting to purchase low and sell high, data indicates that this is not necessarily the greatest strategy.
Consistency has shown to be the secret to success.
One thing to bear in mind about DCA: it is not a "get rich quick" scheme. It's a cautious and steady technique that will take time to produce results. But if you're patient and consistent, it can be quite beneficial. Another thing to keep in mind is that you should invest an amount that you can afford each month/week without putting yourself in a bad financial condition.

Quote from: Taskford on March 17, 2024, 02:37:14 PM

Quote from: Negotiation on March 17, 2024, 09:24:13 AM

Quote from: peter0425 on March 17, 2024, 08:42:38 AM

Quote from: JayJuanGee on March 16, 2024, 02:45:54 PM

Quote from: peter0425 on March 16, 2024, 08:42:44 AM

Quote from: JayJuanGee on March 16, 2024, 03:24:21 AM

Quote from: peter0425 on March 16, 2024, 02:33:34 AM

but yeah since 2022 I started to recover again and now those mistakes will never happen again.
thank you for reminding us how grateful we are being in Bitcoin investing.

It is good that if you started back up in 2022.. so yeah, keep going and keep building your BTC stash, even if it is just a modest amount of $100 per week or whatever you can do..

actually that's what I am doing now , 100$ a week or sometimes even a little higher when there are extra work for a week, not minding how much the price is because Like you i believe that bitcoin will be here and growing in the coming years and not just now and tomorrow.
You are truly aspiring us small investors to keep trusting this great currency..Thank you.

So yeah you surely can be flexible with the amount that you put into bitcoin based on your cashflow and expenses, and surely you have to be careful to make sure that you are not overdoing it. and you have some other funds in case you have some kind of an emergency that might relate to your income or your expenses,

I'll keep that in mind mate and yeah , Like what I said I maintain that 100$ weekly not unless there are something comes out of extra that I am adding to that amount because 100 usd is the only funds I can afford to keep in Wallet.
but aside from that all of my job pay gets directly to my wife as we agreed to that in which she will allow me investing but the family money will be for her to budget.

If you have a job besides earning bitcoins and if your job is enough to meet all your family needs then in my opinion you can keep all the bitcoins earned from bitcointalk. Or invest as much as you can by planning for a long period of time that you will actually hold for. Here is the weekly or monthly saving method which seems to me to be the best method.

What good thing about there if you have a full time job and yet you are earning some bitcoins on your side hustle just like what you earn on your sig campaign then you can potentially use that to increase the size of your investment. With this we can assure that we can make our plans into reality and no other issue that can stop us to hodl since we have multiple source of income that can make all things possible on our side. Now the other thing we can do is to look for other more ways to get other source of income so that we would have more money to use maybe to separate it on emergency funds so that we are also fine if we experience a down time on our job and we are still fine since we are fully prepared on this consequences.

You are correct that having many streams of income can be an excellent strategy to achieve financial stability. It is usually a good idea to maintain an emergency fund to cover any unforeseen expenses. You're also correct that this strategy can help you hang onto your money even when the market is down. It's a technique to create a safety net for yourself so that you don't rely solely on one source of income.
Having numerous income streams can help you achieve not only your investment goals, but also your other financial goals and many other aspects of your life more quickly. For example, If you're aiming to save for a large purchase, having numerous sources of income can help you get there sooner. Again, having many sources of income can help you achieve financial independence more quickly. And Finally, having numerous income streams can help you strike a better work-life balance. You can decide to work less in one area and more in others that are essential to you, such as spending time with family or pursuing hobbies.

Quote from: avp2306 on Today at 08:36:32 AM

Quote from: Negotiation on March 17, 2024, 09:24:13 AM

Quote from: peter0425 on March 17, 2024, 08:42:38 AM

Quote from: JayJuanGee on March 16, 2024, 02:45:54 PM

Quote from: peter0425 on March 16, 2024, 08:42:44 AM

Quote from: JayJuanGee on March 16, 2024, 03:24:21 AM

Quote from: peter0425 on March 16, 2024, 02:33:34 AM

but yeah since 2022 I started to recover again and now those mistakes will never happen again.
thank you for reminding us how grateful we are being in Bitcoin investing.

It is good that if you started back up in 2022.. so yeah, keep going and keep building your BTC stash, even if it is just a modest amount of $100 per week or whatever you can do..

actually that's what I am doing now , 100$ a week or sometimes even a little higher when there are extra work for a week, not minding how much the price is because Like you i believe that bitcoin will be here and growing in the coming years and not just now and tomorrow.
You are truly aspiring us small investors to keep trusting this great currency..Thank you.

So yeah you surely can be flexible with the amount that you put into bitcoin based on your cashflow and expenses, and surely you have to be careful to make sure that you are not overdoing it. and you have some other funds in case you have some kind of an emergency that might relate to your income or your expenses,

I'll keep that in mind mate and yeah , Like what I said I maintain that 100$ weekly not unless there are something comes out of extra that I am adding to that amount because 100 usd is the only funds I can afford to keep in Wallet.
but aside from that all of my job pay gets directly to my wife as we agreed to that in which she will allow me investing but the family money will be for her to budget.

If you have a job besides earning bitcoins and if your job is enough to meet all your family needs then in my opinion you can keep all the bitcoins earned from bitcointalk. Or invest as much as you can by planning for a long period of time that you will actually hold for. Here is the weekly or monthly saving method which seems to me to be the best method.

That's the advantage of having multiple sources of income since you can separate things needed so you may have huge chances to succeed on your plans. Unlike if you only have rely on single income and you are afraid to explore since you don't want to get out on your comfort zone then everything will fail once your expectation on things or how market moves did not follow as what you expect and your main source of income collapsed. That's why its really good to think what's best and don't commit on single income generating since usually people like to quit their job and focus only on bitcoin which is bad choice for them especially if they are not consistently earning or they are just starting up.

It's easy to grow overconfident or even lazy when you have a single source of income that's satisfying your demands. However, you're precisely correct that this can place you in a vulnerable situation if anything changes and that source of income goes. You've also made a really significant point about being comfortable with risk and seeking new chances.
it's possible to achieve a balance between being cautious and taking advantage of fresh opportunities. One technique that can be beneficial is to set aside a specified amount of money for Bitcoin, and to treat it as "play money." That way, you can be constant in your investing without jeopardizing your overall financial stability. It's easy to get stuck in a loop if you're not prepared to take risks and attempt new things.
It is important to approach risk in a balanced manner and avoid putting all of your eggs in one basket. It is also essential to have a backup plan in case things do not go as planned. It's easy to get caught up in the excitement of bitcoin and overlook the foundations of good financial planning.