Quote from: Tungbulu on November 11, 2024, 08:16:35 PM

Quote from: JayJuanGee on November 11, 2024, 02:21:27 PM

[edited out]

Investors (especially newbies) should always, at all time prioritize setting up first a solid emergency/back up funds before even venturing into investing, because the progress and growth of the investment depends on how solid your financial back ups are because most assuredly there will certainly be future emergencies and thus should be adequately prepared for if one wish to see his investment grow overtime.

I agree with the entirety of your post Tungbulu, yet I largely avoid recommending anything that will delay anyone from getting started in bitcoin, including if they might not have any emergency fund and even if they might already be in a situation of bad cashflow management.

Of course, I think that everyone who starts to invest needs to work on either solidifying their cashflow management practices or to improve their cashflow management practices in such a way that they should never have to sell any of their BTC at a time that is anything other than a time of their own choosing.

I believe that one of the most basic starting requirements for anyone to invest into bitcoin is to make sure that they have a discretionary income, and so if they have a ball park idea of their having a discretionary income (even if they are not sure about all of the details), then they have enough to get started investing into bitcoin, even if they might ONLY be able to determine that they have $10 available... and so yeah, there may be some devil in the details regarding how bad of a situation that any particular person might be in, so I am not going to presume any tragedy situation, yet I will presume that anyone starting to invest into bitcoin will likely already have something like 2-4 weeks of a cashfloat, so if they start to invest into bitcoin then they can build up their BTC investment size and their emergency funds at about the same rate to be at 3 months of their income/expenses, and so it could take a hell of a long time just to build up their investment into bitcoin and their emergency funds to be at that status of 3 months each.

Once they have 3 months of an emergency fund, then they would be able to invest more aggressively into bitcoin, yet they still may have several particulars of their cashflow management that they need to fix, which also much of whatever we are doing would be in line with our 9 individual particulars, yet my punchline is that in most instances, I am going to suggest that anyone with an discretionary income to get started in bitcoin first, and there is no need to build up their emergency fund first, and they can build up the emergency fund at the same time that they are investing into bitcoin, at least until they get to 3 months of expenses in each.. and sure of course, there is a bit more risk to build up both at the same time, yet there is also a BIG ass risk of anyone merely building up their 3 month emergency fund, when they are used to living without any emergency fund beyond perhaps a 2-4 week float of cash, so personally, I believe it is way more important to get the fuck started in bitcoin rather than fucking around building a 3 month emergency fund that is largely also ongoingly losing value on an ongoing basis, especially if they are holding it in dollars or their local fiat whihc might even be worse than dollars.

Quote from: avp2306 on November 11, 2024, 11:17:35 PM

Quote from: Oshio-man on November 11, 2024, 11:48:15 AM

This is the period to sell your bitcoin, if you are still holding bitcoins in your wallet, do your self a favor to release your bitcoin because the price has increased above $82,000, I don't think it will hit the price many people are waiting to see this year which is $100,000, but it will definitely get to that price before the end of next year, do you think it will reach $100,000 this year? With my observation, this is not time to buy bitcoin from the market because the price has moved higher which will not allow people to make good income whenever they want to see in the future.

Doubt you should do it, people here is not for trading so its no sense at all so recommending people here to sell their bitcoin is not possible to happen.

Also people are not targeting to sell when $100k price has been reached by bitcoin since this is just good event that people look forward to happen. $100k is just a milestone but for sure even if that price would reach people will continue to hodl especially if they are committed to do this investment decision.

To bad you have this kind of thinking, but I do hope it improve and you separate HODL to trading since if you think about short term then you are playing risky game with bitcoin.

Ultimately, each of us is responsible for what we do.

Personally, I like to suggest that guys buy no matter what as much bitcoin as they can as their money comes in for at least a whole cycle, and sure of course, there might be guys who are able to front load their investment into bitcoin, and if they are going to particularize some other strategy based on their own financial and psychological circumstances, then that is on them.

Bitcoin seems to be amongst the best, if not the best of investments that are widely available, yet it is still in its early adoption stages as far as the world's populations involvement in it, and so it seems to be short-sighted to be trading one of the best if not the best investment available rather than accumulating it and building a long term position with it so that it can become part of something that you have your whole life and you spend 4-10 years or longer building up the size of the bitcoin stash that you have.

People can do what they like if they believe that trading bitcoin is something that they consider might be something that they are able to successfully achieve, yet it seems to me that it is very difficult for any trader to have had beaten those folks who have been focusing on accumulating bitcoin over the past 4-10 years or longer. Traders might talk a BIG game, but they are mostly full of shit gamblers who are engaging in deception.. and sure, past performance does not guarantee future results, but there is no real sign that bitcoin's investment thesis is getting any weaker, even if the slope of its upwards price curve is likely getting less steep than it had been historically, but there still is plenty of room for growth especially for guys focusing on bitcoin accumulation through ongoing persistent and consistent buying for 4-10 years or or more.

But yeah anyone can do what they want including dumb stuff like selling or like failing/refusing to buy merely because of their concerns about short term price moves that are difficult to figure out even for long term bitcoiners, but yeah the traders will tell you that they can figure it out, even though they rarely will outperform a long term investor especially the longer the investment timeline and especially if the buyer had continued to buy consistently, persistently and ongoingly.