Quote from: Odohu on September 10, 2024, 08:34:37 PM

Quote from: Patrol69 on September 10, 2024, 06:32:11 PM

Quote from: _BlackStar on September 10, 2024, 03:46:58 AM

Quote from: JayJuanGee on September 10, 2024, 03:11:24 AM

I will admit that there are not a lot of guys can even get through a whole BTC cycle without getting distracted into trading/selling/gambling when they should still be in fairly early stages of their BTC accumulation journey, so yeah a lot of guys lack patience to really continue to accumulate and to get to some kind of a meaningful BTC accumulation leavel in which the BTC accumulation helps to inform them about the next steps rather than talking theoretical nonsense about supposed needs to sell BTC in order to diversify... and all of those kinds of mumbo jumbo talking points that tend to show that their thinking is distracted by perceptions of short-term fiat "profits."

You may have aware that not all of the users discussing in this thread have a good financial background. They are also very likely to be unemployed and just hoping for a signature campaign to bring in profits - while their knowledge of investing is learned over time. They certainly understand the strategy theoretically - but chances are, they don't have the courage to do what they say.

I don't mind the theory they put forward as long as it's not misleading - but not all of them understand how to apply it properly. It's even possible that they sell bitcoin every signature campaign payment period ^{[instead holding it long-term]} just to make ends meet, and then how do they build a portfolio or diversify assets when other budget support is not available.

In this section there is an experienced investor as well as in this section there is a new investor so do not spread any information which may be harmful to the newbies. I will say a little less than what I know is necessary so that what I have said fully will be of use to another person. When I started investing I got help from others. If I didn't get the right information then my investment strategy might have been wrong. Some of those who follow DCA investment strategy may come with good financial support, some may invest a part of the total cost savings in DCA method, and there are some students who save their tuition fee money and invest here.

I really envy those who are privileged to get the awareness of Bitcoin while they are still in school, probably with less financial responsibilities and still under the guidance and provision of their parents. I usually encourage such people to endeavor to take their finances seriously and one of the ways of doing that is to invest in Bitcoin with some part of their pocket money. They can do this even if it is $10 per week or bi-weekly, they can go that over the years they are in school and this will amount to something remarkable. However, I will not encourage anyone to use their tuition fee to invest in Bitcoin, because the tuition fee is not money they can afford to keep in Bitcoin for a long time. It is like investing the basic funds into Bitcoin which is not advisable.

All you've said is remarkably correct and I totally agree with you, it's very wise for young people to sort and utilize opportunities that are made available for them to develop their financial habit while investing in their future too. There are no better ways for students to invest in Bitcoin than the allocation of part of their pocket money, well except for those of them that decide to take up some jobs in order to raise more money to support themselves, these ones can also use part of their earnings to invest in bitcoin at a regular interval, could be weekly or monthly, depending on when their paycheck arrives. This practice helps young minds to develop a long-term investment mindset, acquire more knowledge abeg Bitcoin and investment in general and place themselves in a position where they'll be able to benefit from compound growth in the long run.

I'm glad you pointed out how important it is for students not consider the option of using money meant for their tuition fees to invest in Bitcoin. It's very crucial to lay much emphasis on the importance of prioritizating essential expenses such as tuition fees because it falls under money they can't afford to lose. It may not be considered to be smart investing at all to use money meant for other important expenses to accumulate Bitcoin as it could put you on a very uncomfortable spot when the sudden need for that money arises, keeping one in a compromising state of considering to sell off their holding in order to foot that need, which very bad for investment. To avoid such scenarios, it's very crucial to strike a balance between financial responsibilities and smart investing, because by doing this, they'll be building a very strong and solid foundation for their financial future.