Quote from: bestcandy on December 29, 2024, 06:04:24 AM

Quote from: Samlucky O on December 29, 2024, 04:13:34 AM

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Bitcoin is expensive but the most important thing is that it's a reliable and economic feasible investment that have high tendency of profitability.
Believe me that what we seeing now as too expensive in the price of Bitcoin cannot be compare to the value of Bitcoin in the future because it's very certain that the price will skyrocket in the future. So a good investor don't look at the high price of a commodity but the economic potential and sustainability of the commodity in regard to the possibility of bringing a profitable return on the investment in the near future which a believe that Bitcoin is that unique commodity.
The quest for Bitcoin investment will always have positive increase in the future which will in turn result to increase in price, so for this reason I think it's advisable for every investor have the financial capacity to aquire Bitcoin to accumulate more Bitcoin as much as possible now and hold it for a long time because those that will preserver to hold it for long time will surely have a good rate of return in the near future because Bitcoin will surely be the most source after commodity in the world in the near future.

I think that you have a lot of the right ideas bestcandy, yet you are still describing the situation in some weird kinds of ways.

I think that the part of your points seem to be that any newbie investor into bitcoin should not be overly concerning themselves about the BTC price, and surely it can be difficult to know when it might start to become o.k. for an investor into bitcoin to become more concerned about the price, which personally, it seems to me that any investor can become more sensitive to price after having had spent a decent amount of time accumulating bitcoin, whether they might spend a whole cycle accumulating bitcoin or perhaps they are able to frontload their bitcoin investment in order to buy large amounts towards within a shorter period of time (shorter than a whole cycle).

The other point that you seem to misstate is a kind of implication that bitcoin is guaranteed to go up in price in the future, which truly is not the case.

Sure there do seem to continue to be strong inferences that bitcoin has a very strong investment thesis that is an asymmetric bet tot he upside, which means that the most that any of us could lose is 100%, yet the upside potential remains quite strong. Another dynamic seems to be that bitcoin is amongst the best, if not the best, of investment options that is open to people all around the world so long as they have some amount of discretionary income that they can invest 4-10 years or longer. Bitcoin is still not guaranteed, even when it has very strong attributes.

Quote from: MusaPk on Today at 07:40:45 AM

One is in accumulation phase or not depends on how many Bitcoin he has. There is no standard guide that tells whether you have enough Bitcoins, this is something you have to figure out yourself.

Overall you are correct MusaPk. No one can really determine how many BTC is either enough or more than enough for another person, especially if we might not know what they goals of the person might be, such as if they might be trying to get to fuck you status, and even if we can put some ballpark ideas on how many bitcoin we need to get to fuck you status, we might not even agree upon how to valuate such bitcoins or how we might manage such bitcoin once we achieve such "enough" or "more than enough" status.

Part of the reason that we might present hypotheticals to each other can be helpful in terms of attempting how to strategize in getting to a status of enough or more than enough, how to valuate our holdings and what kinds of strategies we might have in terms of managing those holdings once we get to such status.

Another factor can be time, so we might consider how much bitcoin we might need in today's dollar terms, yet if we are still quite a ways from getting to such "today's needed" quantity, then we have to project how many we might need at various future points in time, and surely the measurement ruler could be changing, even including our expected standard of living. We might have a current standard of living that is middle class for the area in which we live, so if we want to stay somewhat within the boundaries of that same income class (and standard of living class), then perhaps we can use that to measure where we would like to get to over a certain period of time. There might be some of us who might aspire to live at a higher standard of living than our current one, so it could be 2-5x greater or maybe it is 20-50x greater, and surely it would be more difficult (but not necessarily impossible) to reach the higher multitudes (or magnitudes) of standards of living higher than our current one.

We can ballpark our aspirations and consider the extent to which our aspirations are realistic, and surely some guys do end up creating goals that are nearly impossible (or fantasy) to reach, so frequently it will be useful to attempt to establish various steps along the way in which we can measure and/or tweak our progress... so shorter term goals of 1-3 months, 6-18 months, and then medium term goals of 3-6 years and then longer term goals of 10 years or 20 years or more.. .. and surely there can be various points that we can verify whether we are on track, whether we need to change what we are doing or change the goals in order to keep our goals somewhere in the ballpark of realistic even if sometimes we might also have some goals that we set for ourselves that are quite challenging to meet, but still might be within the realm of possible but are more aspirational rather than something that we consider to be automatically reachable.

Quote from: DubemIfedigbo001 on Today at 11:22:28 AM

Quote from: JayJuanGee on December 28, 2024, 05:45:05 PM

Hopefully we can attempt to maintain enough funds that we never have to tap into our emergency funds, and surely we know of people who seem to be having emergencies every month or every other month, and if we look more closely at why they are having their emergencies tends to be that they are not managing their cashflows well and/or they are not maintaining enough cash reserves, which like you suggest that the emergency funds should not be touched absent some kind of a real emergency, yet if someone puts themselves into a situation in which they do not have funds beyond their emergency fund, then they will end up tapping into their emergency fund way more frequently than they should be doing (especially if they were to have better cashflow management practices in which they have other funds to tap into based on variances that they might have in their income versus their expenses).

The more known variances in discretionary income then the more justified a person is to keep larger amounts of back up funds to account for such already known variances.

I agree with you JJG, some emergencies people keep having over and over again aren't to be grouped under emergencies any longer since you're aware it keeps recurring, you'd have to add it to your expenditure budget and try being better at your cashflow management to make provision for such expenses even before it presents itself. When such expenses are periodic, then you dedicate a variance of reserve funds to it and can build that variance to entertain it twice so you're not immediately under pressure to rebuild that reserve fund immediately after attending to it.

I think that we are talking about similar things, yet when you are describing how to manage reserve funds, I think that you are referring to float rather than reserve funds.

Every month we can have quite a bit of variance in our income versus our expenses, and within the month we might purposefully hold income that we had received aside, since we might still not be sure about some expenses that we have, whether it is utility bills, or transportation or food or some other potentially variable kinds of monthly expenses.

If you are carrying over cash into the next month, then perhaps I would consider those as reserves, since those carried over funds might even be tagged for certain kinds of possible expenses, such as buying bitcoin on the dip, savings for a bicycle for a kid, saving up to take the wife/spouse to a fancy restaurant, saving to buy a new income producing product such as a smartphone/computer/motorcycle/car, or various other kinds of possible categories of savings that you might prefer to keep in cash or in a somewhat liquid form.

Quote from: DubemIfedigbo001 on Today at 11:22:28 AM

Understanding yourself and your expenditure patterns would help you employ a good cashflow management pattern to take care of your constant expenses, then create various kinds of backup funds for periodic expenses and be able to reserve emergency funds for pure emergencies only while still remaining committed to your Bitcoin accumulation journey. Everything boils down to proper planning.

Many of us are likely going to feel more comfortable if we are able to project our income and/or expenses for several months in advance, and we might even continuously maintain a cash cushion in our projections (which might be considered part of a kind of float) that we hope to never get below, since if we use up all of our various funds, then all we have left are emergency funds, that we should hope to never have to touch absent a real emergency... which should be rare - especially once we have spent several years building up our various kinds of reserve/backup funds.