Quote from: SuperBitMan on Today at 01:54:05 PM

Quote from: Roseline492 on Today at 12:05:06 PM

Quote from: SuperBitMan on Today at 11:37:28 AM

I really don't think a poor person can accumulate Bitcoin because a poor person is someone who lacks the financial resources or means to meet their basic needs,

There is a different between abject poverty and a common poverty, an abject poverty is when someone live an unimaginable life of lacking almost everything even to the extent of not having any shelter were they can be able to rest there head for the night while normal poverty is when you can be able to provide almost all your social needs including feeding very well, so actually being poor does not mean that the person has no money to buy anything or deciding to invest on anything because I can see that a lot of people are beginning to misinterpret the word Poor, however don't you no that someone who even have only $16k is considered to be poor?, so why then would you say that a poor person cannot invest on Bitcoin when some poor have up to the amount I mention plus the little work they are doing, so don't judge by the name when you don't no the range that defines a poor.

The word poor means a person who lacks the financial resources or means to meet their basic needs, there's nothing like abject poverty and common poverty what will have are.
The poor
The middle class
And the rich.

Now if you are poor it means you lack the financial resources or means to meet to your basic needs and that of your family.
When you are a middle class person you are in between being poor and being rich that means you have the financial resources or means to meet a lot of your basic needs and that of your family and a middle class person always have a discretionary income.
A rich person is someone who has the financial strength or means to meet all his or her basic needs and that of his family with a huge amount of discretionary income this set of people are considered wealthy.

Now if you are in the poor category you won't be able to invest because you don't have the financial strength for it, if a poor man invest in Bitcoin he will sell it of to settle his or her basic needs which are more paramount to human existence which are food, clothes, shelter, water etc.

@SuperBitMan you are correct to say that a person needs to have discretionary income in order to invest in bitcoin and not to be gambling with money that he needs for expenses, yet you are wrong to proclaim that the definition of poor is not having discretionary income.

Poor is a much broader classification, and the person may or may not have discretionary income depending on the level of his poverty.

We use terms poor, middle class, rich in relative kinds of ways and even general kinds of ways, yet I doubt that it is very productive to get caught up in definitional arguments, when we might be able to clarify what we mean by either giving examples or describing the circumstances of such persons.

If you choose to categorize all poor people as those people who do not have discretionary income, then you are likely going to end up creating a lot of confusion, since there seem to be quite a few poor people who have some discretionary income or even quite a bit of discretionary income.... surely the more discretionary income that they have, the more possibilities that they have to bring themselves out of poverty.

Let's say for example that a poor person makes around $80 per week, and his expenses are around $60 per week, and with the remainder of his income around $20 per week, he likes to drink, gamble, eat ice cream (or other junkfood), perhaps smoke and to have fun with whatever spending money that he has. If he chooses not to invest and/or save his discretionary income, he may never get out of poverty, yet he might have fun while his income is still coming in. Sure, such poor person does not have a lot of discretionary income, and $20 per week is not going to be a lot of money to work with, yet it still falls in the category of discretionary income, and he might want to figure out if he can increase his income and/or decrease his expenses in order to increase his discretionary income...and yeah, he likely will not be living any kind of luxury life, and it likely would be really difficult for him to use his discretionary income effectively, such as buying bitcoin with half ($10 per week) and putting the other half into an emergency fund...

and yeah, he might sometimes have some unexpected shortfalls in his income or increases in his expenses that would force him to spend from his emergency fund, and surely we would want him to get to a level in which he does not have to draw from his emergency fund since if he depletes his emergency fund, then he will have no other resources left, except to dip into his bitcoin, which should be something that an investor is striving to avoid since the investor is wanting to use the bitcoin to make his life (and options) better in the future, perhaps 4-10 years or longer down the road.

Quote from: Ricardo11 on Today at 02:39:03 PM

In this case, if these middle-class or poor people invest Bitcoin aggressively with this kind of money, they may also face losses.

There is a difference between investing aggressively and investing overaggressively, so yeah, a person with less discretionary income has less room to work with and they run more risks of investing overaggressively because they do not have as much money to work with in the event that they make errors in their calculations or if they have months in which their income is less and/or their expenses are more.

Quote from: Ricardo11 on Today at 02:39:03 PM

So that your lifestyle does not have any negative impact on your lifestyle, you should invest in Bitcoin with this kind of money, so middle-class and poor people should make strategic decisions intelligently. And these people should definitely adopt DCA for Bitcoin investment.

DCA can be accomplished in a variety of levels from whimpy to aggressive, and even overaggressive, so each person is responsible to figure out an appropriate DCA level and frequency in light of their own income and expense circumstances.

Quote from: Ricardo11 on Today at 02:39:03 PM

Your income is low? If you calculate your income and expenses, there is very little money left for savings? In the case of DCA, this is not a problem, because DCA gives a very good return even from this small investment. But for this, DCA must be run for the long term.

DCAing in bitcoin does not guarantee any kind of return, yet it does allow attempts at prioritizing investing in bitcoin on a regular basis in accordance with income and expense levels, and perhaps less likely to make mistakes of overinvesting (or underinvesting) if the weekly DCA amounts are incremental and building up over a longer period of time while the person is otherwise diligent about his personal financial and psychological circumstances..

Quote from: Obim34 on Today at 04:38:34 PM

Quote from: Mayor of ogba on Today at 01:50:30 PM

Being poor doesn't mean that you can't be able to solve your daily expenses or have discretionary income; it will only stop you from living a luxury lifestyle and traveling abroad for vacation. There are some investors who are accumulating bitcoin right now, and if they try to live a luxury lifestyle or accumulate bitcoin aggressively, they will find it very difficult to solve their daily expenses because they are not rich enough to do that, or they don't have a good discretionary income that will allow them to do that. If you can figure out how to invest in bitcoin in such a way that it cannot stop you from solving your daily expenses, even if you are poor, you can still accumulate bitcoin and hold it for a long time. Some people in the forum are poor, but yet they are still accumulating bitcoin because they understand how to accumulate bitcoin without finding it hard to solve their daily expenses and what they will achieve in the long run with their bitcoin investment.

Quote

You can do proper by adjusting your definition of poor, we have been using poor to define the average earner but appropriately being poor comes with the inability to provide one's daily survival needs, which means being poor results to living below the normal standard of comfortability. Not being comfortable imposes the incapability of securing any investment capital still going through the hand to mouth lifestyle. As long we are able to providing our needs then we can not be seen as poor, if poor then those who are unable to provide for themselves should be termed as what? An average earner can have his expenses sorted and still have left over funds that can now be diversified into his investment or being kept and saved for any functional purpose. @SuperBitMan also made further explanations.

You are reading too much into the dictionary definition. That dictionary definition is general and does not go into considerations of income versus expenses or the management of cashflow, in order to get at various ways that a poor person might deal with his poverty, and potentially even be able to invest in bitcoin.

Surely, we don't need a dictionary definition to tell us that there is variation in regards to level of poverty and also the particular circumstances of people are going to likely vary quite a bit in terms of some folks who are poor having discretionary income and others not having it. Most people with an income are going to have some discretionary income, yet some people will have very low levels of discretionary income that it becomes impractical and even imprudent to buy bitcoin with that discretionary income, since maybe even some weeks they end up needing the discretionary income that they had from earlier weeks, so it would not have had been good to lock that money up into bitcoin..