Quote from: Odohu on Today at 06:19:34 PM

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

Actually, being poor does not mean that you will be deprived of Bitcoin investment, with proper planning and proper financial income and expenditure management, it is possible to achieve big goals in the long run by earning a little money and saving a little.
It is not right to reduce your standard of living by investing aggressively. Especially those who are middle-class and poor, many times it is seen that middle-class and poor people save money for a long time, in a box or in a bank, and when they have some amount of money, they want to invest it in a good place.
In this case, if these middle-class or poor people invest Bitcoin aggressively with this kind of money, they may also face losses.
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.
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.

I think that word in this context is actually vague and if we want to turn it into argument, it will make us deviate so much from the topic. By definition, if you are poor, it means basic needs have not even been met which breaks the first condition of investing and sustaining the investmemt. To invest and HODL, you must be able to meat basic needs first, then invest from the excess of that and work out some fractions as emergency funds to cover unforeseen events that cannot just wait but be fixed. For the purpose of clarity, being poor is not the same thing as being a low income earner. The later can have his basic needs met but barely have excess to invest heavily so they can decide to use the DCA method to but small at a time in such a way that he will not be in a pressure to sell.

Of course the entire thing depends on several other factor because someone that will be considered a low income earner in come countries might actually be an elite in some other countries.

You are not helping the clarity of the matter Odohu.

The main idea about if a person is able to invest into bitcoin or not is if he has discretionary income, and a lot of people have discretionary income including poor people, yet they still would need to be able to invest that discretionary income for 4-10 years or more to be able to invest into bitcoin rather than trade or gamble on bitcoin.

There are levels within poverty, so we have to be careful in terms of just accepting and going with dictionary definitions of what poverty means, especially when it comes to questioning whether a person has enough of a discretionary income to be able to invest into bitcoin.

Frequently, we like to consider months at a time, since some bills will be due on a monthly basis, even though income might be received more frequently, and surely there can be people who make mistakes regarding their income and spending their income prior to accounting for all of their expenses, so they might use their discretionary income badly (or prematurely believing that they have discretionary income when they might not have as much discretionary income as they believe themselves to have).

Cashflow management that includes accounting for future expenses, at least on a monthly basis, yet frequently it can be helpful (especially for a bitcoin investor) to project several months in advance.. Cashflow management also includes the creation and maintenance of back up funds that can serve for emergencies but also can serve to cover up accounting mistakes, and so sometimes a person might build up back up funds, and then spend from them, but then fail/refuse to see the urgency to build back their back up funds, and then if another emergency comes prior to their building back their back up funds, they might be forced into selling any bitcoin that they might have accumulated at a time that was not completely at their own choosing.

Are we going to presume that if the dictionary says that a person who is poor is not able to invest in bitcoin, so we are just going to accept that definition without actually considering particulars and using the analytical tools that we already have which is to figure out income as compared with expenses and to see if anything is left in order to be able to build? And, surely there are some folks who remain in poverty (poor status) due to their poor management of income/expenses, and also some folks do have difficulties increasing their discretionary income, so there surely can be a lot of challenges that poor people face in order to potentially be able to make their life better in order to move up the scale of being less poor and potentially even moving into a non-poor status, even though they previously were poor. Bitcoin investing surely provides options to poor people, middle class people and to rich people, and surely the more discretionary income the better, yet as other members have mentioned, there is a certain mentality that is also helpful in terms of actually figuring out that bitcoin is a great place to put as much discretionary income as possible while building a bitcoin holdings and hopefully not overdoing it in such a way that causes them to wreck themselves.