Quote from: Bd officer on Today at 10:06:56 AM

Quote from: CryptoBuds on Today at 08:56:25 AM

In the long run, investing in bitcoin will definitely not disappoint you because the value of bitcoin still has a chance to increase. But I want to ask, if you don't have any savings in the bank, how will you deal with an emergency? For example, you bought bitcoin for $73k and now bitcoin is trading at $65k, do you sell bitcoin and accept the loss? And according to you, in just 2 weeks bitcoin has lost more than 10% of its value, so compared to monetary inflation, which will cause greater damage in the short term? Not having savings is really something that needs to be reconsidered because bitcoin doesn't always increase in price to get you more money.

I have never kept money in the bank, I do not want to keep money in the bank in the future. I have exta fund for emergency needs, I rear cattle at home. I have invested in Bitcoin for long term, short term investment has less chance of profit. We live in joint family, my family father brothers earn, we help each other in urgent need. So there will be no need to sell bitcoins for urgent needs.

I had an opportunity to live with my family before I got a job back then and had a choice to relocate.
Long story short, Upon losing the job some years later, I have thought so many time of going back home to live with my family for sometime until the economic hardship passes, but I haven't come to a conclusion yet, because I believe in careful planning and discipline.

Although, based on my calculations of expenses so far, I wouldn't spend as much when am home, would have more to Invest in BTC or trade as frequently as I would and achieve my goals faster than living alone in an urban city where the hardship is worsening.

To survive my perfect formula so far has been; as a customer buy from a wholesale distributors. As a retailer, be monotonous in business. Both ways ensure more is saved than spent to live better now, despite economic hardship.