Quote from: JayJuanGee on Today at 03:18:34 AM

Quote from: Zackz5000 on December 06, 2024, 07:41:06 PM

Quote from: Frankolala on December 06, 2024, 06:54:15 PM

[edited out]

All what you have explain here is acceptable but I still don't believe that some one who is poor can do well with his Bitcoin investment or hodl for long without selling them off because I don't see how a poor man who bearly feed well can handle Bitcoin investment because he or she will definitely sell off or kick off the game when challenges may accur, like if what I understand by been poor is what you meant, a struggling man can't be able to accumulate Bitcoin and hodl for long because family challenges will be there personal needs will also arise unless such poor person has been making saves for long for his discretionary income and emergency fund and also a strong source of income before he can be able to accumulate Bitcoin and HODL for long.

You are correct that real poor people have a bit of a dilemma, and potentially one of the ways out of being poor is to be able to invest. Yet a poor person cannot invest , unless he can identify discretionary income that he is able to put away and not touch for many years. So a real poor person is faced with ongoing needs to increase income, and he likely does not have very many extra expenses that he would be able to cut. Some of the really poor people are not in a position to invest in bitcoin, and perhaps if they are not either able to increase their income and/or decrease their expenses, they will not be able to invest into bitcoin until they are able to establish a disposable income for themselves.

Of course, that's the only way that a poor guy that has the zeal an d passion to invest in bitcoin with no discretionary income can get into bitcoin accumulation train by looking for an extra source of income. He can get a second job to enable him use the income as his discretionary income so that he can start his bitcoin investment and continue buying with DCA regularly overtime.

This was the same thing my eldest sister did. I told her about bitcoin and she knows that I am investing. She has very little discretionary income and when we did the calculations together of how much she can use to invest in bitcoin for a long-term, it happens that it was only $5. This is a very small amount, but I didn't discourage her, rather I told her to look an additional means of income. She cut down some family expenses that is not necessarily, and was able to get extra $5 from cutting down of expenses. She started investing with $10.

After two months, she told me that she has gotten a second means of income and she increased her weekly DCA to $40, and she is happy with her ongoing bitcoin accumulation. She told me that she has been called on an interview for a good paying job and that if she gets the job, she will increase her DCA amount again. So if poor people who cannot afford to invest in bitcoin, looks for way to improve their financial status, they'll definitely have a discretionary income to invest in bitcoin, and who knows what tomorrow has for you. You might have a better source of income tomorrow and it wouldn't be like you are just starting because you have looked for a way to start buy with little amount initially.

If the way the poor are putting money into gambling that they will loss more is the same way that they are buying bitcoin with the money that they are losing to gambling, many of them would have gone far in their bitcoin investment.