Quote from: BITCOIN4X on Today at 10:35:00 PM

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

Quote from: BITCOIN4X on December 06, 2024, 08:34:02 PM

~Snip

Of course, another way for a poor person to get bitcoin is by earning it, yet he still is ONLY able to hang onto his bitcoin if he has a discretionary income or the extra bitcoin that he earns is above the monthly costs of his expenses.

Of course, it's difficult to hold bitcoin for long term that are earned straight away like I explained, especially if they don't have any other side income. It's still reasonable to think they could keep a few percent of all that bitcoin for long-term investments, but most of it would be sold for daily or monthly needs. There's nothing wrong with that, but it would certainly be great if all those bitcoins were saved while having other side income.

Even from earned bitcoin, applying some level of discipline can make it possible to perform DCA with such coin. For instance, if you earn $50 per week in bitcoin, you can adjust your spending to perform $20 weekly DCA while using the balance of $30 for your needs. $20 weekly DCA will amount to $80 month saved in bitcoin. This will look small but do it consistently for a year and you will be somewhere close to $1,000. Project this further to five years and possibly ten years and see the magic that little amount could do. Everything is just about planning and determination and the good thing is that the knowledge we gained here have given us the opportunity to start small through the DCA method.

Quote from: BITCOIN4X on Today at 10:35:00 PM

Nowadays there are many sources of income that can help anyone who is interested in investing. Almost all social media platforms have a monetization feature which then pays these creative people, the results can be invested or used as a source of additional income instead of selling bitcoins to make ends meet.

Financial stability is key to investing in bitcoin and sustaining such investment, there is no arguments about that. What you have suggested is just an emphasis that one should strive to improve his finances to be comfortable while investing in bitcoin so that there will be no pressure to sell for small things that little money could fix.

I have noticed that when an investor is accustomed to touching his investment unplanned, no matter how small, such investor can never achieve the set targets because this habit when inculcated, tends to eat deeper thereby doing serious damages over time. In other words, anyone in the habit of selling of fraction of the investment over small issues will continue to see issues that will lead to selling and will not be able to resist the urge to sell. Therefore, to avoid this ugly situation of going back and forth with the investment, investor should endeavor to improve the cashflow so that emergency funds can be set up as quickly as possible after the basic needs have been met.