Quote from: betswift on Today at 03:02:22 PM

Quote from: JayJuanGee on Today at 02:39:04 PM

Quote from: Barikui1 on Today at 07:37:26 AM

Quote from: Mr.right85 on Today at 07:12:23 AM

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Well, talking of the statement I make bold, you need to understand that most of this guy's that bought a very huge amount of Bitcoin at a go wasn't that rich as you think, most of them bought very early, they are those investors that put their hard earned money on Bitcoin when majority of us doesn't even dare to take such a risk, and that is why they were the biggest benefactor of the magnificent growth of Bitcoin, because they took the biggest risk to invest in Bitcoin then, but if someone can buy such a number of Bitcoin today, then that person would have been an established person already in the society just as you said, because Bitcoin right now is way more expensive now compared to how much it was 10years ago.

Then concerning your next paragraph, yes it's true that DCA accumulating strategy offers the same opportunity to acquire and own a very huge amount of Bitcoin, but it's not a day job, it might even take an average salary earner 10years to acquire up to 100BTC, some might not be able to acquire such number of it due to poor salary, but that isn't a problem too me, the most important thing is continuity, as long as you keeps on buying without tempering with the ones you have already, with time, you will surely get there as long as you keeps on buying.

Your comment about acquiring 100 BTC hardly makes any sense.

Of course, historically 100 BTC might have been a target by an average salary earner, yet if someone is just getting started in bitcoin now or even in the past couple of years, an average salary earner might be aiming for the accumulation of 1-5 bitcoins in the next 10 years, since even a person putting $200 per week into bitcoin might have trouble reaching 1-2 bitcoin in the next 10 years, since a person investing $200 per week into bitcoin would have had invested $10,400 after 1 year and presumptively $104k after 10 years, and it might not be enough to have had accumulated a whole bitcoin.. depending on where BTC prices might go from here.

Your plan seems more real, I agree Grin

It just depends on the funds and determination a person has. And, of course, everybody shouldn't forget that accumulation shouldn't be a main source of hope for them profit-wise, it should be a goal that wouldn't hurt them in the long run.

Surely it seems that a person first needs to be in a position to aggressively accumulate bitcoin, since many times there are going to be balances in regards to how much fiat a person might be able to dedicate towards investing in bitcoin, and even though it makes logical sense to attempt to front load a bitcoin investment, it can be really tough to justify too much frontloading for anyone who might also be in early stages of getting an education, working on job building skills and maybe even in the earlier stages of building a family to the extent that the spouse may also contribute to extra income or not so much.

So then even projecting in terms of a bitcoin quantity goal might seem a bit unrealistic since we don't know how much bitcoin is going to cost at various points along the journey, yet we might be able to project how much income we might be able to have along the way and maybe a presumption of gaining income along the way, but still there can be questions whether expenses might go up equal to gaining income or maybe even some expenses go up higher to gaining income, which would end up in reductions rather than increases in disposable income, so maybe a newbie comes to bitcoin and he expects that he is going to be as aggressive as he is able to become, and maybe starts out with $50 per week and expects in 6 months he will be able to get up to $100 per week and then perhaps in 12-18 months he will be able to get up to $200 per week.. perhaps, but there are several contingencies, and he can imagine situations in which his amount could become higher or it could become lower, and he also has a job situation in which he receives bonuses 2-3 times per year, so if his finances are in good order most if not all of that bonus amount could be invested into bitcoin, that is if he continues to believe that putting so much of the bonus amounts into bitcoin...

so there can be uncertainties on both the bitcoin quantity measurement side and also uncertainties regarding the fiat value of the bitcoin and also uncertainties regarding how much fiat is going to be spareable in order to put into bitcoin, yet there could be some tangible ways of attempting to measure goals in terms of yearly expenses, so even if there might be difficulties knowing exact values and quantities, there could be assessments that perhaps after the first 10 years of investing into bitcoin, the bitcoin accumulator might want the bitcoin to be valued somewhere in the ballpark of at least 3-5 years of expenses, so that the quantity put in plus the bitcoin's appreciation in value might reach those kinds of levels, and so perhaps to reach those kinds of levels there may well be needs to exceed 10% of the gross income put into bitcoin, and maybe even to be safer there could be attempts to put up to 15% to 25% of the gross income into bitcoin, even though it could be difficult to achieve those kinds of investment levels on a sustainable basis.. so it may well be better to stick with a little bit less aggressive investment level closer to 10% rather than 25% that is at least more sustainable.

We should try to be realistic in light of how much BTC we might be able to accumulate, yet we can continue to measure along the way and to attempt to tweak our various scenarios in terms of more likely scenarios and also best case and worse case scenarios, and we can reassess our progress along the way.. so our projections become more factual based the longer that we are building within them, but there still might always be worse case and best case scenarios within them, even though the measures might change along the way too, based partly on our historical progress.

Quote from: ajiz138 on Today at 04:14:57 PM

Quote from: JayJuanGee on Today at 02:39:04 PM

Your comment about acquiring 100 BTC hardly makes any sense.

Of course, historically 100 BTC might have been a target by an average salary earner, yet if someone is just getting started in bitcoin now or even in the past couple of years, an average salary earner might be aiming for the accumulation of 1-5 bitcoins in the next 10 years, since even a person putting $200 per week into bitcoin might have trouble reaching 1-2 bitcoin in the next 10 years, since a person investing $200 per week into bitcoin would have had invested $10,400 after 1 year and presumptively $104k after 10 years, and it might not be enough to have had accumulated a whole bitcoin.. depending on where BTC prices might go from here.

How much salary does it take to earn 100 BTC?

Let's say starting now to start investing in bitcoin by reaching the next 10 years with 100 BTC then what you need is: $10K per week DCA then the next 10 years will be close to $6M = 100 BTC current price (depending on up/down) And it is very rare for people to get a high salary unless someone has a large company.

So earning 100 BTC for me is excessive for now, for me 1 BTC is already a good achievement through DCA even if it takes 5 years.

Yes surely my comment directed toward's Barikui1 idea of an average earner states that he assertion makes no sense for either a beginner or someone within the first few years of their bitcoin accumulation journey.

Since even my example of DCAing $200 per week into bitcoin starting now may well be lucky to reach even 1 BTC after 10 years (that is presuming to be able to have an average cost of $104k per BTC by the end of the 10 years), so if we have to multiply that calculated projection by 100 (100x it), then we see that even a weekly amount of $20k might not even end up reaching 100BTC after 10 years of investing, so I might consider the $200 per week person to be closer to ab average person as compared to the $20k per week person, and I still think that it might be difficult for a lot of folks to even be able to muster up enough disposable income and will power to invest $200 per week into bitcoin.

In recent years, I have come across some fairly well-off people who complain with my suggestion that they invest at least $100 per week into bitcoin, even though I know that $100 per week is clearly and unambiguously within their budget. I think that many people don't really know how to invest or to know about the power of DCAing into an asset like bitcoin, so even if I get them to agree to start to invest into bitcoin and use DCA, when they end up doing something like half of my recommended amount, they still end up screwing that up by not being consistent and even selling some of it, so quite a lack of commitment and/or a lack of good cashflow management practices exist through-out sectors of society, whether average income earners or not.

Probably, the best that I did was getting someone to invest around $2k into bitcoin in 2014 and then perhaps getting up to less than $10k invested into bitcoin overall, and sure that person made several screw-ups along the way, but had close to 21 bitcoin at one time, and had cashed out probably more than $150k worth of value at various points, and still has close to 1 BTC in spite of the many screw-ups along the way, and probably the only reason that the person still has close to 1 BTC is based on various kinds of rescue that I ended up making along the way.. and sure I am no where close to perfect or even knowledgable about various technical matters, but people do have tendencies to screw up very basic things and even to devolve into gambling, even while they might be proclaiming that they know what they are doing and that they are "being careful/prudent" with their investment.

Quote from: Sticky Bomb on Today at 04:34:57 PM

Quote from: ajiz138 on Today at 04:14:57 PM

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100BTC is just like a dream to me, but I love to dream big, it's attainable though, still it needs a kind of magical updated in my earnings, I love to keep things real still and act within my means until I have the the ability to go higher. My love for BTC it's still limited to accumulating 1BTC for now and I'm optimistic I'll get there soon, and it's attainable with my projections. Maybe when I get there, I'll again set bigger goals, but until then I think it's better to set realistic goals for yourself. 1BTC is enough goal for now.

Try to be somewhat realistic in your expectations and your hopes.. otherwise you are going to increase your odds of recking yourself in the process, and it is way more beneficial to make sure that you stay alive and you stay invested rather than getting greedy and recking yourself along the way because you got too greedy or you were trying to rush the wealth accumulation process.

It can take a decently long while to build up your bitcoin holdings, even if you have several thousand dollars to start out your BTC investment, even if you know that you are going to have improved income in the future, and even if you believe that you can employ decently good cashflow management practices. Accordingly, you might even be able to project ahead that over the next 5 - 10 years that you may well be able to invest $150k to $250k into bitcoin, but still even being able to invest that much in a relatively short period of time might be a stretch to achieve and to even conclude that you are reasonably going to be able to accumulate more than 3-5 bitcoin in that same amount of time, and sure maybe you have some hopes of being able to invest even more amounts of fiat into bitcoin which increases your chances of getting higher quantities of bitcoin with that cash, yet it seems quite fantasylandia for someone who is barely getting to 1 BTC to be dreaming about getting to 100 BTC, even though surely those kinds of things can be possible.. but seem a bit unrealistic in terms of needing to build step by step and have realistic goals in the short term that could cause BIGGER goals to be more reachable after achieving smaller goals first.

I am not sure how much I want to go into my personal details, yet I have had BTC and/or value accumulation goals along the way too, and several times I have even exceeded my goals, but part of the exceeding had to do with BTC's price performance.. for example going down and my continuing to accumulate and then going up 2-3 years after I had already been accumulating fairly aggressively... yet frequently my goals would be stated in terms of something that I considered to be achievable within 1-5 years, and so the further that I would project out in regards to either my BTC accumulation or the wealth related to that, the more general my goals would become... yet I still don't tend to assume BTC price growth beyond looking at the growth of the 200-WMA.. so maybe at least 10% is my current assumption, even though my hope for 6% per year was based on spot price rather than looking at the 200-WMA lagging indicator as my current attempt at projecting both BTC growth and my abilities to spend within such parameters of something like at least a 10% per year growth of the 200-WMA.. yet if there is also some exceeding of previous expectations, then I also have a lot of cushion between where I had already expected to be.. which is frequently why I suggest guys try to focus way more on their accumulation goals and to keep honing their accumulation goals within reasonable boundaries rather than getting too caught up in ideas of profits and blah blah blah.. Sure we might presume that profits are likely in BTC, but we likely also have to spend a cycle or even a couple cycles accumulating BTC before getting ahead of ourselves in terms of thinking about what our profits might be when it does come time to start to have cashing out options..