Post
Topic
Board Speculation
Re: Buy Bitcoin, and HODL!
by
Chiomaobi
on 14/06/2024, 19:38:02 UTC
I will suggest that if a person is merely buying anywhere between $10 per week/month and $100 per week/month is likely going to need way more than 10 years in order to get to a status of having had accumulated a sufficient amount of bitcoin.  Perhaps such a person will need 20-30 years or  more to really get to a decent place with his/her bitcoin stash.

For sure, each of us has differing expectations in regards to how much income that we might need to be able to live comfortably, whether we use bitcoin proceeds to completely replace any income that we have or to supplement income that we might have from other sources.
Bitcoin accumulation have to do with left over cash flow and at that not having sufficient steady monthly or weekly set aside founds let say $10 or even $20 which is way too much time to come up with a significant amount of bitcoin starsh, but then just as you said, sometimes we come across unexpected huge sum and if we are able to put all down on bitcoin it could cover up for a long period of time and a journey that surpose to take 10 years to 20 years could come much faster and easier.

Yeah it all boils down to the point @JayJuanGee made that when a person or an investor is accumulating Bitcoin using $10 or $20 on weekly basis or even $100 monthly that the investor may not actually have a sufficient amount of Bitcoin within a little number of years but that however the investors will need to least give themselves 20 to 30 years before achieving a good amount of Bitcoin, and that's actually true because irrespective of how consistent people are on there Bitcoin accumulation using the normal DCA method they would need to give themselves more longer years to be able to have the sufficient amount of Bitcoin they need. However if perhaps on the process and you feel that you have more money to invest you could adjust your accumulation amount to facilitate it a bit.
You are correct, any one who is going into Bitcoin should always choose to hodl for long term because that's The only way you can accumulate enough Bitcoin, me as a newbie the mindset I have is long term investment and because I invest little weekly into Bitcoin using the DCA method I'm planning hodling for a very long time so I can accumulate enough Bitcoin.
Any newbie that has the mindset of short term investment in Bitcoin will always feel disappointed along the line because you may find yourself losing or not making enough like you expected.
Bitcoin investment is not a Ponzi scheme that you can start and make millions the next quick, Bitcoin investment is a legit investment that takes time to grow you don't need to rush, if you are not patient then you can't be successful in Bitcoin investment, just imagine those that has held good account of Bitcoin since 2011 till date one will call them successful and that's true.
I just started Bitcoin investment and one thing that always gives me hope in this investment is that Bitcoin has not stopped growing, my friend told me there's no point in investing on Bitcoin 5 years ago that it won't grow again I believed him and didn't invest but I regret my action I shouldn't have listen to him, you can see how fast Bitcoin grew from 5 years ago till date. So I'm advising my follow newbies to choose long term investment in other to succeed in Bitcoin investment.