Also to succeed in investing with alternative income systems regardless of cost the constant DCA strategy can be ideal strategy for people of every income with the potential to get huge holdings. From my experience, I mainly get the right idea about investing from these threads and apply the investment strategy myself.
These threads and people that starts it and JJG that gives suggestion and thoughts about the matter of importance of DCA and other investing techniques are very helpful to those that are just searching on the web and trying to think what they are up to. Without any other source of income, one should start having himself some source before following these good techniques and investing style that have been suggested not just on this thread but also in every other thread that someone can find through the forum.
I agree that it is problematic when anyone gets into bitcoin and they speculate that they are going to generate income through BTC, and surely it tends to take a long time to figure out some techniques that are profitable in trading, and most likely it is way better to build up BTC holdings through investment techniques prior to even trying to trade, yet if someone is trading, then they should limit their trading to ONLY less than 10% of their BTC holdings, and make sure that they are able to generate income from their trading before giving up other sources of income -and truly there are some traders who may well make money on their trading for several years, and then all of a sudden they get blown out of their position, which may end up showing that they really did not know what they were doing, even though they had assessed themself as knowing what they were doing.
I've encountered several people that talked that way. They think that they can replace their jobs and stuff by investing on Bitcoin by just starting out. They have the wrong impression about Bitcoin at the beginning thanks to the people that hypes Bitcoin as an investment that way which shouldn't be.
The only time one can replace there Bitcoin investment to there jobs is when they hit a fuck you stage this is a point where they have accumulated so much Bitcoin that can take care of them and there family, except hitting this stage in one's Bitcoin investment one should hold on to his or her job be it a trader or a holder.
Some set of people says since they are traders they don't need a source of income that trading is there source of income, we all know trading is very risky and anything can happen no matter how good you are in trading you will surely lose one day because the market may decide not to be in your value, there are some point were a trader start taking loans just to settle bills at home on the hope that his prediction will work as predicted and when that those not happen it becomes a big problem to him and before you know it he start selling his properties in other to pay back those loans in other to avoid all this keep your job and take your Bitcoin investment as your side hustle and if you must trade risk only 10 percent of your discretionary income however accumulating and holding is less risky.
If a person spends 4 years or more building his bitcoin holdings, then perhaps he might consider trading or ways that he might earn income off of his bitcoin holdings, yet even that could be problematic if the BTC stash is not of a sufficiently adequate size.
I agree, I am on this position as well. Taking some profits off my holdings and it's up to me whether I'd go further with trading or just sit and relax watching how my port grows and try to take and slash profits out of it every now and then that wouldn't hurt that much my holdings. But yeah, for those that with lesser sizes on their btc stash, they have to make a deal breaker for themselves before doing so.
If someone has been consistent in his or her accumulation and holding for 4 years and above there's nothing wrong in taking some profit from from his Bitcoin investment, the only wrong thing is selling everything and start all over again.
Some people are always tempted to dip hands into there Bitcoin investment and the reason for that is because they are facing some financial challenges if someone has money to settle his financial issues when ever they come up they won't dip hands into there Bitcoin investment so having a good source of income and also backup funds helps one prevent dipping hands into his Bitcoin investment.