I personally think that inconsistencies in income and expenses could be reasons for holding back value rather than investing right away, so surely poor people have disadvantages over rich people in terms of even making sure that they have enough income to be able to invest into bitcoin, since sometimes there is not enough income to work with in terms of making sure that they are able to build an emergency fund, yet the poor person likely needs to the emergency fund more than the rich person, yet if your point was that the poor person is not able to hold any money back for an emergency fund, then the poor person is going to end up getting fucked when he has any little emergency and he has to tap into his investment prior to his intention. so emergency funds are just as important (if not more important) for poor people as compared with rich people... but yeah, it is likely that a lot of poor people stay poor because they end up using their investment as their emergency funds rather than making sure that they have enough flexibility in their cashflow to make sure that they never have to sell their BTC at a time that is not of their own choosing.. which becomes way more dangerous with any investment that is volatile, like bitcoin.
I agree with your. I prefer long-term planning with Bitcoin, so from my point of view it becomes a bit difficult for poor people to invest long-term, because they don't have enough money to invest. However, it is more important for poor people to have an emergency fund than for rich people, as their income is less stable and unexpected expenses can further damage their finances. If a poor person wants to invest in Bitcoin, he must have an emergency fund because his long-term investment can solve the problem from the emergency fund in case of financial problems, that's why basically every person needs an emergency fund.I have a slightly different opinion to this discussion. For me, I would like to understand it clearer what category of poverty we are discussing here and what is the basis or criteria that can be used to identify who's poor and the category of people who can be regarded as poor yet not destitute (meaning they can still spare out some little percentage of their funds for emergency purposes).
For me, I've classified poverty into 5 different categories in my own opinion, starting with the class of Relative Poverty. These class of people are relatively poor, while they may meet some basic needs, they are regarded relatively poor because they are significantly poorer than those with average standard of living within our society. These class of individuals, although are poor people, will have the capacity to raise some funds for long-term DCA investment while they still have spare money for emergency, however little.
The second category of poor people is the Working Poor people. These people are still regarded poor because they earn wages that are incapable and insufficient to lift them above the poverty line. Example are cleaners and other blue-collar jobs. Although, they are workers and might be placed on wages but that job is not able to lift them above the poverty line. They may also be able to squeeze themselves into DCA approach of investments with the little funds at their disposal after taking out their needs.
The third class are the Rural Poor individuals. These are poor people who live in the rural areas and mostly depend on farming on small piece of land or become low-income laborers to others in their farms. They often have limited access to infrastructure and other basic amenities. These class of people can barely muscle out funds to cater for their basic and extra needs and only have funds to eat from hand to mouth. Their resources are oftentimes limited to food and shelter and could barely keep some funds for emergency. These kind of poor people will find it difficult to invest in Bitcoin and other cryptocurrency.
The fourth class are the Urban Poor individuals, while they may lookalike with the Rural Poor people, they probably earn more than the rural poor people but with limited access to job opportunities, clean water and affordable housing. These poor people spend most of their incomes on house rents and Healthcare can could barely secure extra funds for emergency. These set of people might be able muscle out funds for investments but even when they participate in DCA, they cannot keep up with the investment for a long time.
The last one is the Destitute. I termed them the Destitute because they become the class of people with worse and extreme form of poverty. They are homeless and lack all forms of amenities and only survive on begging or charity for survival. These set of individuals cannot provide a two square meal talk more of having funds for emergency purposes or investments. No matter how economical these set of people become, they cannot still raise funds for emergency purposes or investments.
However, haven't mentioned all of these, whether you're rich or poor, one thing you must also consider is one's ability to control his spending and manage some funds for investment. People who are poor and are still capable of raising funds for investments can actually go into the DCA approach effectively. They can decide to participate in crypto investments but with a very prudent financial discipline and management.
Honestly, I'm starting to get fed up with all the talk about coins like this because it seems like too many people are blinded by the temporary hype that they don't realize it won't last.
In some sub forums there is also a lot of discussion about trump again, trump again and I'm getting bored with discussing coins that in the end will not develop apart from those who are trying to raise and drop it quickly as usual.
The conditions remain the same when indeed we are trying to find the best from the investment process that we do so why approach coins like this especially for the hype that in the end it will all come back to the original price even though it cannot be denied that the increase will come quickly but the destruction will come quickly because the shitcoin scheme will remain the same all without exception.
So in the end, don't be too provoked just because of hype and fomo let alone have ridiculous beliefs like some people who say with full awareness that trump can surpass bitcoin
It's hard to digest sense lol.
In some sub forums there is also a lot of discussion about trump again, trump again and I'm getting bored with discussing coins that in the end will not develop apart from those who are trying to raise and drop it quickly as usual.
The conditions remain the same when indeed we are trying to find the best from the investment process that we do so why approach coins like this especially for the hype that in the end it will all come back to the original price even though it cannot be denied that the increase will come quickly but the destruction will come quickly because the shitcoin scheme will remain the same all without exception.
So in the end, don't be too provoked just because of hype and fomo let alone have ridiculous beliefs like some people who say with full awareness that trump can surpass bitcoin
It's hard to digest sense lol.Every alt has one thing in common which is they have a cycle like this:
1. It is launched.
2. It goes up.
3. and goes down and stay down forever.
Despite the fact that there are so many Atls that have eaten money of people, still people are investing money in coins like Trump and Manila. they might be the one who don't do proper research or study the past incidents before investing in such alts or the one who live in denial. Since we are discussing how to invest in Bitcoin and HODL here in this thread, our main focus must be about defining strategy on how to invest in Bitcoin and HODL for long term.
It will be wrong if you generalized these criteria on all alt coins. Not all altcoins must obey the third criteria you mentioned. Although I will align more with you when you popularize this with memecoins like the $TRUMP & $MELANIA memecoins than just generalizing it on all altcoins. What will you then do with strong altcoins like the Solana and Ethereum coins. While all memecoins are known as altcoins, it will be improper to regard or assume all altcoins as memecoins.
Hitherto, I won't advise any newbie or amateur in investment to put their capitals on any altcoin without doing a proper investigation of the market trajectory of such coin and as for the memecoins, it's a total gambling for me, so it will remain a no go area of investment for me. Historically, memecoins have been regarded as pump and dump projects, so there's no need going through such risks when you have your history note.