Quote from: Miles2006 on July 01, 2024, 07:26:25 PM

Quote from: Reincarnated Sat on June 30, 2024, 06:58:23 AM

Quote from: JayJuanGee on June 30, 2024, 12:53:29 AM

Quote from: Reincarnated Sat on June 29, 2024, 07:29:17 AM

Quote from: JayJuanGee on June 28, 2024, 07:16:45 PM

Quote from: Reincarnated Sat on June 28, 2024, 06:52:12 AM

Well for me I think one's salary and how much he or she invest on Bitcoin weekly or monthly using the DCA strategy plays a very important role when it comes to reaching a rate to be sustainable because if for example I'm investing on $10 or $20 weekly or monthly on Bitcoin and another is investing $100 to $200 weekly or monthly it will have different time for reaching a rate to be sustainable. ( My point of view).

Sure. The more you invest, then the faster you will be able to reach your levels, and so if a person is investing 10% of his income, then it is going to take 10 years to reach 1 years worth of income invested, yet if that same person is investing 25%, it is only going to take 4 years to reach 1 years worth of income invested, and surely you are making a good point that if a person retains reasonably low expenses, then he might be able to invest his whole level of his expenses in one year, which would likely end up causing the need for a lower amount of time to reach 10 years worth of income (expenses) being invested into bitcoin... so yeah, if the guy considers his level of expenses to be sustainable and even maybe to modestly go up and he can account for how his expenses will go up, then surely, he would be able to get to a point that he can start to withdraw bitcoin to cover his expenses and also to account for his stash maintaining its value sufficiently that his withdrawal rate is sustainable forever into the future.

Yeah and I believe one with good and strong emergency, reserves and float funds and also a good pay as salary can be aggressive in his or her Bitcoin accumulation in other have more Bitcoin in a short number of years.
And to be honest I'm planning on becoming aggressive in my accumulation I feel I need to do that so I can get more Bitcoin However I need to have a good back up funds before starting.

You can build up your bitcoin and your various backup funds at the same time, so you likely need to temper your aggressiveness until you feel that your various back up funds are solid.. whether you are referring to emergency fund, reserve funds and/or float... and yeah, in the end, you can figure out your own level of aggressiveness according to your own situation, but if you end up fucking up and being overly aggressive and in need of the funds because you were investing too much into bitcoin, no one is going to save you from yourself.. .. so you are ultimately responsible for your own calculations and outcomes.

Wow you are right I never thought of these in this way, well that's what am going to do i will remove a percentage from my salary and invest in my emergency, reserve and float funds same way I'm investing on my Bitcoin, I already have an emergency, reserve and float funds but they are not strong and that is what has been stopping me from being a little aggressive in my investment but with this your idea I will have a strong emergency, reserves and float funds.
After making it strong the way I want it then I can be aggressive without any fear, without a strong back up funds you can be fucked when being aggressive on your investment.

Emergency or reserve funds should be planned along side bitcoin investment, the reason why most investors complain about having a weak emergency funds is because they started saving their emergency funds late but it’s always good to realize the slightest mistake and fix everything right as there’s no limit set to accomplish the right goal when dealing with bitcoin investment. Well, I don’t know but personally I can’t measure the level of my aggressiveness with my backup funds as my backup funds has not gotten to my satisfied desire, I believe if any investor should rely on their backup funds when they’ve not saved something meaningful it will definitely affect the investment, knowing your capacity in terms of accumulating aggressively can help an investor to hold during the long run.

Surely it could take 6-12 months or longer to build up a fairly solid emergency fund, depending on how much discretionary income that you have relative to your expense - and so I see no reason to be waiting prior to investing into bitcoin, even if your finances are not in the greatest of orders. Sure, if you have a lot of messy aspects of your finances, you are likely going to be needing to put them in order, but there should be no reason to wait prior to investing into bitcoin, even if you have to make your investment into bitcoin quite small relatively to where you might be able to more aggressively invest at later dates when your finances are in better order.. so in that sense, you might still consider that you are being as aggressive that you can, in consideration of various aspects of your finances.

On the other hand, if you determine that your finances are so bad that you have absolutely no discretionary income, then you may well not be in a position to invest prior to your being able to determine that you actually have a discretionary income.

Quote from: Tungbulu on July 01, 2024, 09:45:45 PM

Quote from: Reincarnated Sat on June 30, 2024, 06:58:23 AM

Quote from: JayJuanGee on June 30, 2024, 12:53:29 AM

Quote from: Reincarnated Sat on June 29, 2024, 07:29:17 AM

Quote from: JayJuanGee on June 28, 2024, 07:16:45 PM

Quote from: Reincarnated Sat on June 28, 2024, 06:52:12 AM

Well for me I think one's salary and how much he or she invest on Bitcoin weekly or monthly using the DCA strategy plays a very important role when it comes to reaching a rate to be sustainable because if for example I'm investing on $10 or $20 weekly or monthly on Bitcoin and another is investing $100 to $200 weekly or monthly it will have different time for reaching a rate to be sustainable. ( My point of view).

Sure. The more you invest, then the faster you will be able to reach your levels, and so if a person is investing 10% of his income, then it is going to take 10 years to reach 1 years worth of income invested, yet if that same person is investing 25%, it is only going to take 4 years to reach 1 years worth of income invested, and surely you are making a good point that if a person retains reasonably low expenses, then he might be able to invest his whole level of his expenses in one year, which would likely end up causing the need for a lower amount of time to reach 10 years worth of income (expenses) being invested into bitcoin... so yeah, if the guy considers his level of expenses to be sustainable and even maybe to modestly go up and he can account for how his expenses will go up, then surely, he would be able to get to a point that he can start to withdraw bitcoin to cover his expenses and also to account for his stash maintaining its value sufficiently that his withdrawal rate is sustainable forever into the future.

Yeah and I believe one with good and strong emergency, reserves and float funds and also a good pay as salary can be aggressive in his or her Bitcoin accumulation in other have more Bitcoin in a short number of years.
And to be honest I'm planning on becoming aggressive in my accumulation I feel I need to do that so I can get more Bitcoin However I need to have a good back up funds before starting.

You can build up your bitcoin and your various backup funds at the same time, so you likely need to temper your aggressiveness until you feel that your various back up funds are solid.. whether you are referring to emergency fund, reserve funds and/or float... and yeah, in the end, you can figure out your own level of aggressiveness according to your own situation, but if you end up fucking up and being overly aggressive and in need of the funds because you were investing too much into bitcoin, no one is going to save you from yourself.. .. so you are ultimately responsible for your own calculations and outcomes.

Wow you are right I never thought of these in this way, well that's what am going to do i will remove a percentage from my salary and invest in my emergency, reserve and float funds same way I'm investing on my Bitcoin, I already have an emergency, reserve and float funds but they are not strong and that is what has been stopping me from being a little aggressive in my investment but with this your idea I will have a strong emergency, reserves and float funds.
After making it strong the way I want it then I can be aggressive without any fear, without a strong back up funds you can be fucked when being aggressive on your investment.

The above bolded phrase has just laid to rest a question I've pondered on for weeks as a result of an argument I had with a friend on this particular subject about 2 weeks ago.
He argued that it'll be a very wrong approach to split your attention into growing both your backup funds and your bitcoin portfolio,
I tried to make him see the possibility in building and developing one's backup funds while also building up one's portfolio but he was insistent that one must first build up their backup funds to its expected and required standard because beginning one's Bitcoin accumulation journey, even when/while I tried to make him see reasons with me, he refused so I gave up the argument.

Of course you have to pay attention to your own details, including your risk tolerance - yet in many circumstances if you wait to build up your emergency fund and back up funds first it could take you many months or even a year or more to get to a point that you are starting to feel that you have good back up funds..

Let's presume a very large number of people who do not invest live paycheck to paycheck, so maybe they ONLY have around 2-4 weeks worth of cashfloat that might be considered a kind of emergency fund, yet if you have no investment that you are trying to protect (such as bitcoin) then there is less to lose if you run our of your back up money, float, so part of the reason for having any extra buttress from regular people who do not tend to invest is because there is a desire to protect your bitcoin investment, and since bitcoin might be more volatile than other kinds of investments, there is more reason to protect that you do not sell any of it that is not completely at a time of your own choosing.... so yeah, part of the question may well become the extent to which you are protecting an investment (such as bitcoin), and if you are ONLY able to invest $10 to $100 into bitcoin per week, then your bitcoin investment is surely going to take a long time to grow to any significant size, and maybe it would take you 6 months or more to build your emergency fund if you were not investing into bitcoin, but perhaps if you build your bitcoin and your back up funds simultaneously, it might take you 12-18 months or more to get them into a state of good order...

Each of us needs to decide - yet from my own point of view, I believe that it is way too overly conservative to be building your back up funds prior to getting started in bitcoin.

Quote from: wxa7115 on July 02, 2024, 04:39:01 AM

Quote from: Tungbulu on July 01, 2024, 09:45:45 PM

The above bolded phrase has just laid to rest a question I've pondered on for weeks as a result of an argument I had with a friend on this particular subject about 2 weeks ago.
He argued that it'll be a very wrong approach to split your attention into growing both your backup funds and your bitcoin portfolio,
I tried to make him see the possibility in building and developing one's backup funds while also building up one's portfolio but he was insistent that one must first build up their backup funds to its expected and required standard because beginning one's Bitcoin accumulation journey, even when/while I tried to make him see reasons with me, he refused so I gave up the argument.

Both are possible, it is just that since we have no way to control the events that happen around us, being too aggressive in our investment strategy can be very detrimental, if we find ourselves facing a difficult set of circumstances.

So the safest path is to build your emergency fund and only then begin to invest in bitcoin, however such an approach has an opportunity cost and you may miss buying bitcoin at an attractive price, so I can understand why you may prefer to take a hybrid approach.

Everything that you say is technically correct wxa7115, yet even though not technically wrong, it seems kind of strange to me to describe your getting started in bitcoin as if you were looking for an attractive price, and I think for me, part of the point of getting started sooner rather than later is not so much about BTC price, but more so about the idea of time, since there is an expression that I believe to be true which is that: time in the market is better than timing the market. And really it takes a really long time to build up an investment and so getting in and getting started and committing to acting on a very regular basis remains important for beginner investors into bitcoin.. and yeah, they have to study as they go.. but still getting started is important for both the learning process and the process of demonstrating to commitment through action,... and sure we might look at our costs per BTC, but it could still take us a whole cycle to really start to build up a stash, and it may not even matter so much whether we are in profits or not for that first cycle of accumulating bitcoin.. including that the more that we might think about getting in at an "attractive price" then the more we consider waiting to be a strategy rather than acting as a strategy. I am not much of a fan of waiting as a strategy.. even if you might have some theories about down before up that may or may not end up playing out.

Quote from: Fara Chan on July 02, 2024, 11:42:22 AM

Quote from: wxa7115 on July 02, 2024, 04:39:01 AM

Both are possible, it is just that since we have no way to control the events that happen around us, being too aggressive in our investment strategy can be very detrimental, if we find ourselves facing a difficult set of circumstances.

So the safest path is to build your emergency fund and only then begin to invest in bitcoin, however such an approach has an opportunity cost and you may miss buying bitcoin at an attractive price, so I can understand why you may prefer to take a hybrid approach.

I prefer to buy Bitcoin at an attractive price, namely when the price has fallen or is still in a fairly low area historically for several months. However, the investment approach as you say is also very good because everyone is required to have an emergency fund even though the fund is not used often every day. But I actually prefer to buy Bitcoin first, even in a smaller amount, rather than preparing a larger emergency fund because I like holding Bitcoin even if the amount is not that much. Because preparing an emergency fund also takes time and it could make us miss the best price on Bitcoin so that we don't have time to buy at a more attractive price.

Ideally, you should never touch your emergency fund... so you may well have an emergency fund in place for 20-30 years or more, and you never end up touching it except for building it in order to make sure it matches with your expenses that may go up from to time. So in that regard, you might touch your reserves and your float, and whenever your reserves and your float are getting depleted to a point that you might have to tap into your emergency fund, then it probably should be the case that you are already getting anxious to replenish your reserves and your float so you never end up having to tap into your emergency funds at all, ever. That would be ideal and a sign of strong financial management skills.

Quote from: Tmoonz on Today at 01:17:31 PM

Quote from: promise444c5 on Today at 12:05:21 PM

[edited out]

I quite understood you, the point I was only making was that those that prioritized buying Bitcoin when the price are relatively low or probably when there is a drop are mostly associated with those that intend to buy at low and sell high, however another set of investors that buy Bitcoin in that regard are also those who have attained their maintenance level of accumulating Bitcoin where they don't need to be buying Bitcoin regularly but might decide to only be buying Bitcoin when there is a drop, but a low coiner will maximize every opportunities whether when Bitcoin price is at the peak or when there is a drop, because they buy Bitcoin irrespective of the price point in order not to miss any buying opportunities and increase the quantity of Bitcoin they have. an ideal long investor can as well becomes consistence in dca and also make provision to buy when in dip without timing before entering the market if proper plans has already been made.

You are using the term "low coiner" quite differently than I use the term.

I would not consider someone who is aggressively (regularly) and persistently accumulating bitcoin as a low coiner, but instead someone in their BTC accumulation stages...

I consider a low coiner as someone who is accumulating bitcoin under their capacity or maybe lackadaisical, apathetic or whimpy about their BTC accumulation, so they might even believe they have enough when they might have way less than 1% of their investment portfolio in bitcoin.. and they might not realize that their way of accumulating bitcoin had been weak or whimpy until many years later... so I would not consider anyone who is regularly accumulating bitcoin as a low coiner, even if they feel that they don't have enough since if they are ongoingly paying attention to accumulating bitcoin then surely, they may well have as many coins as they can given the circumstances even if historically they might have had been a low coiner.. someone who was less enthusiastic about his bitcoin accumulation.