Quote from: Justbillywitt on Today at 10:10:41 PM

Quote from: Hatchy on September 03, 2024, 07:34:52 AM

If you don't have a steady source of income, why put all yojr funds in BTC?

Even if someone have a steady source of income, it is never advisable to put all your available funds in bitcoin. Rather a fraction of your disposable income is expected to be invested in bitcoin. Often times many investors makes this mistake. Because they have a source of income which they believe will last for long, they tend to be more aggressive with their bitcoin investment. I know there could be several reasons that might make an investor decide to be aggressive with their investments, but no matter how aggressive one might tend to be, never invest all of your available funds in bitcoin, simply because you have a source of income. It is a wrong approach, because anything can happen at any given time. As much as you are building up your bitcoin portfolio, you also need to be stacking up cash reserves.

It’s advisable no one should go all in at once when investing rather use what’s available. No one can actually brag about their income being able to sustain them till whenever because anything can happen at anytime, there’s a saying don’t put all your eggs in one basket and it’s similar as when an investor try to put everything in bitcoin without considering a backup fund. Sometimes when people mention aggressive buying it’s either they have the sufficient money to buy aggressively from their discretionary income and still save some reserve funds or else the investor need to reduce the level of aggressive buying. Let’s note that our investment will take so much time and we don’t want to be in any stranded situation to an extend of using our investment that’s why it’s advisable we use discretionary income (money we can afford to lose).

Quote from: Justbillywitt on Today at 10:10:41 PM

There's no guarantee that your BTC investment would make you rich in the next couple of years. Again what will your BTC be to you when you are not healthy considerate or probably kicked the bucket?

It is believed that bitcoin will do more of an uptrend movement than downward movements in the coming years. Let's say 10 to 20 years from now, so investors who invested in bitcoin now and successfully hold their bitcoin till then, sand a better chances of making fortunes from their investments. If by chances an investor kicks the bucket as you have said, your bitcoin investment can be of benefit to your children. Your children and grandchildren will be glad that you made sacrifice for them by securing their financial future with your bitcoin investment.

Quote

No one want to invest in a failed asset that’s the major reason I choose bitcoin since it’s different and it’s obvious bitcoin will do well within 10-20 years or more. The time taken to build our bitcoin portfolio can be considered as the sacrifice we make to get a better portfolio, the only reason why we’re advised to invest carefully is because it’s not guarantee but, doesn’t mean bitcoin will fail and it has never been recorded so