Quote from: Justbillywitt on Today at 05:22:02 PM

Quote from: Ricardo11 on December 09, 2024, 02:39:03 PM

Quote from: Mayor of ogba on December 09, 2024, 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.

Someone who is poor has nothing to do with Bitcoin investment. Do you really know what it is to be poor? Poverty is a state when you struggle to get everything. You ain't even sure where the next meal is gonna come from. You don't even have a roof over your head to call your own. You don't have a paid job, you live off from begging on the street or at the mercy of your neighbors who may periodically come to your aid. You don't even have a smart phone, because you can't afford it. You don't wear good clothes unless someone gives you his or her worn out clothes. I'm just trying to paint a picture of what being poor is all about. When someone is poor, you don't have any business investing in bitcoin because you are definitely going to sell off your bitcoin and feed from it.

Your focus should on improving your standard of living first, by getting a paid job so that you can feed and stay alive first. It is practically impossible for a poor man to successfully hold bitcoin for long even if they manage invest in it, which I doubt. When you hear the word poor the picture that should come to your mind should be those who live on the streets, under the bridges. People that can't access good health care system. Any person that can buy Bitcoin and hold it for a full circle and above is no longer a poor person. A poor man investing in bitcoin is just like keeping a goat and a yam in same room. You already know the outcome yourself. Poor people should improve their living conditions first before thinking of investing in bitcoin.

You seem to be getting over excited about your own ideas about what is poor, Justbillywitt. Of course, there is not just one level of poor, and some of us might be defining poor in different ways, and if we are defining poverty in different ways, then we might be arguing about semantics rather than figuring out thresholds in which it might be advisable or acceptable to invest into bitcoin versus not doing so.

You are correct that a person who cannot pay all of his expenses will not be able invest in bitcoin, since there is a need to have money beyond expenses and to be able to keep the money in bitcoin for 4-10 years or longer - otherwise with a shorter timeline, they would be trading/gambling with their money rather than investing... so not only does any person need to have discretionary income to be able to invest in bitcoin, they also need to be able to commit to keeping that discretionary income in bitcoin for 4-10 years or longer.

We likely realize that even poor people gamble with their money, so we cannot stop people from choosing to gamble with their money..

I am not going to try to proclaim to know all of the various levels of poverty, yet we know that there can be quite a bit of variance both in the terms of destitute that any person might have and the level of destitute will vary over time.. .so a person that is destitute may well have periods in which he has extra money that he could invest into bitcoin, yet it may well be unwise to invest, since he might not have any kind of confidence in regards to being able to continue to get income at various points into the future.