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.
Even low income earners can invest in bitcoin, and the good part about bitcoin is that no amount of money is too small to invest, so even if you are a low income earner, then you can also accumulate bitcoin, even if we know that it’s not going to be much, just because you are not financially stable, but that doesn’t mean you can’t also invest in bitcoin, everything is just determination, and the little bitcoin you think you are holding today might be something massive later in the future, so don’t be discouraged even if you are able to hold just a little amount of bitcoin.
You are definitely correct, those are the encouraging words that are needed when embarking on Such a journey. A low income earner can always find a way around it, he can decide to DCA periodically depending on how he gets his income, but the problem always come with persistency as in most times they find it difficult to keep on keeping on because of their financial status, they kind of get discouraged at the long run, that is why we always encourage investors to be strong willed, because that is one of the principal keys to keep you going.
I would think that if an investor comes to bitcoin with timeline that is 4-10 years or longer, then if he had been consistently buying bitcoin over at least a whole cycle, he may well start to see progress.
Sure progress is not guaranteed, yet at the same time, we could likely conclude that nothing positive is going to happen if investing into bitcoin is not at least attempted.
Sure everyone has to choose from his options of where to put his value, and it seems that bitcoin gives the best hope, even if it could take 4-10 years or longer before starting to really see meaningful progress.. and not even that is guaranteed.
[edited out]
You are definitely correct, those are the encouraging words that are needed when embarking on Such a journey. A low income earner can always find a way around it, he can decide to DCA periodically depending on how he gets his income, but the problem always come with persistency as in most times they find it difficult to keep on keeping on because of their financial status, they kind of get discouraged at the long run, that is why we always encourage investors to be strong willed, because that is one of the principal keys to keep you going.
The way rich sees Bitcoin and pushes himself towards investment, on the other hand, the poor are far behind in that regard. Since there is no fixed rule regarding the specific time or period and the amount of money to be invested in Bitcoin investment, the hierarchy of rich and poor is not conceivable regarding Bitcoin investment. At present, as Bitcoin inevitably crosses $100k, everyone on the forum, regardless of the rich or poor, is pushing themselves towards investment. I think if the poor can save a part of their daily income according to the right plan and invest in Bitcoin, then gradually that investment will help in getting a high return in the long run. It is certain that the market will remain volatile, but we should not stop investing because of that. I think the market will rise and fall, but as the days go by, Bitcoin will be able to deal with the market volatility at different times and give us a high return in the long run.
[/quote]
We are not guaranteed a high return, even though I agree with your point that both rich and poor are likely going to be advantaged by figuring out investment strategies and then employing such investment strategies.
[edited out]
You are definitely correct, those are the encouraging words that are needed when embarking on Such a journey. A low income earner can always find a way around it, he can decide to DCA periodically depending on how he gets his income, but the problem always come with persistency as in most times they find it difficult to keep on keeping on because of their financial status, they kind of get discouraged at the long run, that is why we always encourage investors to be strong willed, because that is one of the principal keys to keep you going.
I’m not sure this discouragement is so common while investing in bitcoin or it’s not a thing of the poor neither. Discouragement during long run is only considered by an investor who doesn’t know bitcoin investment and we can all agree the average investors are also knowledgeable. When it comes to bitcoin investment I sincerely don’t care the amount used to accumulate either monthly or weekly since it all depends on an investor, we only buy with our discretionary income and I will not advice anyone to gamble with their funds. As we’re all saying buying bitcoin using the dca strategy is okay in such situation, for example dividing the percentage used for investing and reserve funds even in small amount. No doubt continues investing will benefit compared to holding just fiat, I find this as the biggest encouragement any one needs, let’s consider a 10% investment plan every month in a year it’s certain the person is heading towards a successful investment, no amount is so little for the fact they’ll definitely double everything when attaining another level probably promotion etc.
[/quote]
I agree with almost everything you said Miles2006, except you make it sound as if the BTC investor is guaranteed to make a return by investing into bitcoin, which is not true. I think that we can still suggest that bitcoin is either the best, or close to the best place to invest extra value, without proclaiming that it is guaranteed to make a return.