Quote from: Kelward on Today at 07:37:12 AM

I personally don't have a set target for the number of Bitcoin that I want to accumulate into the future, because I don't want to put myself into unnecessary pressures to achieve the goal by all means. Although there's nothing wrong with setting a soft target for yourself into the future, perhaps in 10 years time to achieve a reasonable amount of Bitcoin but there's no need to over labor yourself or deny yourself of basic needs that are essential to live a healthy lifestyle because you want to accumulate 1 or 2 Bitcoin within the timeframe.

You are getting it twisted, setting a target doesn't mean that you should not take care of your basic needs or monthly expenses neither deprive yourself from other important things that must be done. Setting a target will only enable you stay focus and work towards it with all commitments and determination because you have a goal to achieve. For instance, you will be careful with the way you spend your extra funds and cut down expenses on stuffs that you can do without. For instance, drinking two bottles of beer every week or the money that you put use to gamble every week will be channel into accumulating more bitcoin apart from your DCA.

Also, whenever you have extra funds that you don't expect or plans for, it will make you think of buying bitcoin with it right away because you don't want the money to be used for something that will not be beneficial to you in future. The investor can easily lump sum happily with such funds because he has the zeal and passion to reach his bitcoin target.
Bitcoin investment does not need pressure to invest because it's a long term process, otherwise, you might end up selling your bitcoin when there is too much pressure on your finance because you are doing it the wrong way. Bitcoin investment should be done the right way for success in future.

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DCA method for example gives you the ease to accumulate according to your income at any particular time, no need to overpressure yourself and miss out on having a meaningful life by overstretching yourself in the cause of wanting to meet up with unrealistic targets that your income can not accommodate. It'll be unwise to stash your bag with a reasonable amount of Bitcoin in the future then not be in good health or sound mind to enjoy part of it in your retirement or worse don't even be alive to enjoy it. What I focus on is the percentage of my income that I set aside for my DCA method, that is where I have a constant for my accumulation, not the amount of Bitcoin that I must have in my retirement.

Of course, the amount of money that we use to DCA should be the amount from our discretionary income that is cool with us to continue buying with such amount overtime till we have an increase in our discretionary income. If not, if you go and overdo it with a bigger amount that will affect yout expenses, it means that you are gambling and will end up selling your bitcoin investment at loss when you want to take care of your needs.

However, if you have a target, that will not make you think of acquiring bitcoin in a wimpish way of just been satisfied with only the amount that you can use to buy bitcoin weekly when you can increase it and it wouldn't affect you financially. For instance, when you don't have a bitcoin target, your discretionary income might be $100 and you will be cool with buying bitcoin with $40, because you feel you don't have any target and don't need to invest too much on bitcoin. When you can invest $70 instead of $40. You might have a salary increase and still feel cool of using your initial amount to DCA instead of increasing it.

Having a bitcoin target is another form of motivation on its own to make you find different means and opportunities out there to increase your income. One thing that you should know is that, it's impossible for anyone to be investing in bitcoin for long without an emergency funds to take care of your health and whatever unforeseen challenges that you will face, if not you will sell your bitcoin before time to solve them.

One thing that you should understand is that we might set a target and be seriously working on accumulating such quantity of bitcoin but due to the time frame and the price of bitcoin in the long run with how our income will play out in the long run, we might not be able to reach our exact target but we would definitely get closer it to, despite all the seriousness and persistent to keep our bitcoin accumulation ongoing.