Quote from: Miles2006 on January 28, 2025, 02:40:54 PM

Quote from: hero_the_bossman on January 28, 2025, 11:44:36 AM

Quote from: Bd officer on January 28, 2025, 11:35:17 AM

Quote from: Tonimez on January 27, 2025, 01:48:44 PM

Not investing in bitcoin even after having the knowledge is sometimes demoralising after realising that the price has left where you met it. Procrastination is a thief of time and works perfectly well in the midst of excuses.

I have always known about bitcoin for long now but didn't know how it worked neither did I get interested in knowing how it works. I got keenly interested in bitcoin in investment last year June when bitcoin was less than 63k when a friend tutored me on how it works. I became excited and wanted to try. But learning the knowledge of bitcoin from a trader is a very big setback on long term investment. I only learned that you can buy and after a while when the price changes to something above your cost price you could sell.
Everything was right but I didn't get to learn that there was more to bitcoin than trading. I sold of the little I had immediately bitcoin rose to above 70k and became skeptical about buying again. Within few months bitcoin crossed the 100k ATH and that was when I realised I learned the wrong way.

Buying bitcoin is not really an issue, but being disciplined not to sell it off in a little provocation. Now, we buy and buy more because I have come to realise that bitcoin is closely a one way project, always on the rise. Learning about bitcoin from a trader is one of the worst hurdle anyone can have in the area of bitcoin investment.

Yes, you won't get the right idea about Bitcoin from a trader. The trader buys bitcoins and sells them at some profit. So if you go to a trader to get ideas about Bitcoin then he will give you ideas about trading. When you invested, if you could have held until now, you could have been in good profit now. Bitcoin will grow in popularity day by day and Bitcoin price will continue to rise in the future. Since you realized you were wrong, you continue to invest in Bitcoin again and hold long term. So you can follow DCA method, which is the best method to invest in Bitcoin.

Both do it for profit in the end.
They just stabilize risk / time differently.

Firstly, we could create same impression and mindset but we still do it differently and more perfect. I’m sure everyone must have experienced this once in a while having a good mindset to make profit and end up creating a mess, that’s the perfect example comparing trade and investing. Relating same energy when investing or trading the results will always be different not minding the aim, both for profit no doubt still doesn’t guarantee a trader success although at some point investors still make mistakes for example reading what hero_the_bossman wrote above basically lack of knowledge can lead to investment loss and higher risk sometimes ignorance, meanwhile trading still is not safe with a 10% knowledge, it’s risky trying to introduce a newbie to start trading why not invest instead. Most of the site we read online are only centered on trade when they know bitcoin investment is not only buying when the price is low and sell anytime, This impression is wrong and it has cause a lot of wrong investment choice.

Even though there is quite a bit of appeal to the idea of buying low and then selling higher, with something like bitcoin the more prudent and reasonable approach is to actually just keep buying without selling until perhaps 10 years or more later, and even when the selling time comes, there is no need to sell all at once or even in BIG chunks, but just sell a little bit as you need it when that later time comes.

Selling has the appeal of both short term profits and people want to lock in their profits (in dollars), yet it seems like large numbers end up selling way too many bitcoin too early and at too low of a price... live and learn and live and regret can end up being common themes for guys who are not able to accumulate and hold for a long time and stop trying to skim off short term profits before the BTC has been allowed to grow over a couple of cycles or more.

Since the long term is not guaranteed, that would be the reason for not overly doing the investment, and to invest as much as you are comfortable to put away for 10 years or longer.

Quote from: Stablexcoin on January 28, 2025, 04:01:59 PM

Quote from: JayJuanGee on January 27, 2025, 04:19:36 PM

I agree that increasing income is better than cutting expenses, even though both can be worked on, and surely there can be times in which it is difficult to increase income, but surely each person has to attempt to figure out his own situation, and surely when we might realize that we are wanting to increase our income so that we can buy bitcoin, then we can get motivated from having had created those kinds of goals.

Another thing that can be difficult is that sometimes we might need to spend time and money in order to be able to increase our earning power, so sometimes we might have to spend time learning new skills and even networking with others so that we can become more employable or more likable so that we end up having potential to increase our work or increase how much we get paid for our time...yet sometimes even with some of the better paying jobs, they might not be achievable until doing worse paying jobs first, and then later getting a promotion.. and there are even some folks who work for free or close to free (sometimes referred to as an internship) in order to be more likely to be able to later receive better paying position(s). It can be difficult to know what any one person could do or should do since there can be a lot of variance depending on the kinds of skills a person has or perhaps how likable (or unlikable) a person might be so that some folks won't get hired (or promoted) unless and/or until they are likable by the person making those decisions.

I agree with you everything you said here because it is nothing far from the truth. I just have a little i want to add to what you have said on this discussion. Increasing our financial goal is really an ideal way to gain financial freedom and that should be what we should focus on, which is the source where we get the money. Because the journey to achieve our financial goal is not as straightforward like we have planned it. Working harder, gaining new skills or networking is good but i feel making the foundation of which we have been using to invest in Bitcoin from the very beginning is very vital and that is where all of this comes to play to help boost sustainability.

Every work is entitled to someday end even there are some job that look like they are permanent. Even a skill might get low people needing the services and some business may tend to be out of date. If times like this comes and we fall under the category of persons with skill, business and work of course its either we are on one. We may lose having more capital to keep investing in Bitcoin.

At all times financial stability should come first. Not everyone is in the position to invest in Bitcoin especially when they are struggling of which i know you are pretty much aware of. Before focusing on Bitcoin or any investment we ought to ask ourselves is my foundation solid? Do i have an emergency fund, steady income, and basic expenses covered no matter what?

You seem to be referring to issues of bitcoin position size and long term money management, which should not exclude the conclusion that investing into bitcoin is a thing that is likely going to make your life better, especially if you can continue to invest in bitcoin and maintain it for 10 years or more.

No one can tell you how to increase your income or how to make sure that you don't lose your job or how to improve your job skills, and yeah there can be some very challenging times that contribute to more people not being able to invest as much into bitcoin, since they don't have much if any discretionary income. So yeah there are needs for discretionary income and some folks can afford $100 per week, and others can afford $1k per week and others might only be able to afford $10 per week.. and yeah, it can be tough for those who are not even able to afford $10 per week.. and I am not sure how to get out of those kinds of situations if you have already cut all of your expenses, and if you cannot figure out ways to increase your income, then you might not even be in a position to put $10 per week into bitcoin because you don't have an extra $10 per week, and you actually need to have an extra $10 to be able to buy bitcoin, since if you need that money for short term expenses, then it is not available for buying bitcoin.

Quote from: Stablexcoin on January 28, 2025, 04:01:59 PM

In the aspect of internship the idea is great and i love that you brought up the conversation, such as interesting one. With my understanding internship means working for free to get better opportunities, where there can be little allowance to support for transportation or little expense covered.

Some folks get into higher circles or are ONLY able to network because they agree to and/or apply to an internship. Some people also create their own internship by approaching companies or individuals who are in a position to be able to create a position, and surely sometimes it can be quite difficult for some folks to get access to higher positions and opportunities with more skills and better pay, but sometimes they do get into such positions through internships.... and surely it can be even especially important to show that you are skilled, you are likable, you are a kind of person who can identify problems and solve them or follow direction very well to accomplish goals of the decision maker, and surely sometimes after having you work and benefit their company (or business) for a while, they either will offer you a paid position, or you might end up putting yourself into a position in which you can apply to another company (business) and get a similar position or even a higher position that is paid, since your internship had gotten you access to information about the ways that things are done in a certain industry and a kind of insider knowledge.

I am not saying it is easy, but there are some guys who can be capable of entering into better employment if they are able to get access or to do an internship... which also can mean dressing for the part, having mannerisms and behaviors to show that you are qualified for the part, showing up early, staying late, studying on your own time and even off site, and just being generally likable and potentially desired because you may well end up contributing in such a way that increases their business and profits and even they might see that you contribute so much that they can just pay you from the additional profits and they still make more by paying you versus not having you... and yeah, it might not be easy to find such a situation or even to accomplish such a task... and I am not even claiming to be an expert on the details of how to accomplish it, since it will be different for different kinds of skills that you might have and what kind of needs a company (business) might have and how well suited your talents and/or personality might be within the company (business).

Quote from: Stablexcoin on January 28, 2025, 04:01:59 PM

But to someone looking at a bigger picture in life internship will keep them in the cycle of struggle.

Some kinds of activities are monetizable and other kind of activities are not monetizable. So there can be things that you learn (even on your own) that you are able to lend your skills to someone who is willing to pay you, which sometimes goes back to building a reputation of being good, trustworthy and beneficial so that people will end up paying you for your services, and yeah sometimes you might have to do it for free or for low pay while you are building a reputation and building customers/clients.

Quote from: Stablexcoin on January 28, 2025, 04:01:59 PM

Because for me i cant afford to put in unpaid labor while waiting for the better pay to come later. In a touch economy like mine, the first priority should be survival not taking risk that may not payoff in the future. People should first look into their economic situation before taking any internship.

Those are decisions for you to make.. so yeah, I understand that some folks might never be able to advance out of their position, so they don't have enough time, skills or even extra money so that they can afford to spend in unpaid labor, yet some higher positions might not open up for certain people unless you can make it appear that you are able to do that higher paid work. Another thing is that if you know that there is a certain kind of way to get into a higher paid position, then if you are not ready, willing and/or able to do the steps then you might be stuck with lower paid jobs for longer periods (and perhaps forever), and sometimes knowing about a path can be helpful, and some people will specifically attend a specific tech school or even short amount of college for the opportunities for the internship and not necessarily for the school training itself, yet both the school training and the internship may well end up being the route that a person has to take in order to be qualified for a paid position.. and sometimes the early paid position is not paid very much, but it has promotion opportunities.

Part of the reason that people compare dead end jobs to jobs with promotion opportunities is based upon these kinds of ideas that there are some kinds of jobs that have way more promotion (higher pay) opportunities, and there are other kinds of jobs that may have little to no promotional opportunities.. nothing significant, anyhow... The pay of some jobs barely keep up with changes in the cost of living..and some of the ways to cheat (even though it could take a while to play out), is to be able to figure out which kinds of jobs have higher potential and better stepping stone opportunities..and there might be almost no way in hell for a person to even keep up with the cost of living increases if he keeps doing similar kinds of jobs, but if there are ways to get promoted into higher positions, then the take up pay at some point go up 20% or more or sometimes the pay might even double or triple at certain points in the career....and again, I am not saying it is easy, and I am not even saying that everyone is able to do it and some people clean up better than other people.. Some people have difficulties fitting their personality or their way of presenting themselves into a position that is going to impress the right people in order that they can receive promotions in pay and/or promotion in skills and opportunities.

I recall doing various voluntary positions, internship, sometimes with low pay but good exposure and experiences, and then other kinds of working my way up, and then there were certain points that I entered into entry level positions that were paid, but then the amount of pay was like 10s of times more than my previous positions since a lot of the stuff that I was doing was mostly unpaid or very low paid, but they were stepping stones to the higher paid positions....and of course, sometimes the experiences were not very great, but if the position was being used as a kind of stepping stone, there can be ways to spin the position and the experiences in a way that made them show that you were ready, willing and able to take the higher qualification kinds of jobs that had higher responsibilities (and perhaps higher pay)..oh and sometimes when there was a good job, it also might have almost guaranteed promotions (and even higher pay), so then if you had already been used to making way less money, then so much of the additional money can be used for investing (into some thing like bitcoin - even though bitcoin was not around during my earlier years of building my work experience and my getting into higher paid positions).

Quote from: Ruttoshi on January 28, 2025, 05:44:48 PM

Quote from: hero_the_bossman on January 28, 2025, 11:44:36 AM

[edited out]

Think of having an investment that you can build, grow and maintain it even at old age. There is nothing like the joy of a bitcoin investor who has worked hard during his young days and invest in bitcoin to watch how big his portfolio is when he is old. It shows that he was responsible enough to invest with the funds he was earning when he was working because he cares for his future.

Traders are like those people who had the opportunity to invest in a lifetime investment like bitcoin but decided to gamble with their money because they don't have the vision of what bitcoin will become in future. They will have nothing to show for all their effort and hard work they have done during their young age and the time they have spent playing around with trading and losing their bitcoin due to the mindset of quick profit.

This is why I choose investing for a long term in bitcoin than trading because it is the wisest and best decision for a discipline person who don't want all his effort of making money go in vain, because he has seen the power in bitcoin. There is no excuse for anyone who is a trader of not having a good size of bitcoin in future because he caused it for himself.

Another part of the amazing thing about bitcoin is that the investment timeline could end up getting cut way shorter than expected. Of course, there are no guarantees, but so far bitcoin has shown itself to be quite an amazing investment that has potentials of cutting down our anticipated investment timeline in ways that are beyond belief and beyond the expectations of many who had already gotten into bitcoin... but the real and true secret seems to be accumulating and holding it rather than prematurely selling it...so not fucking it up.. we have a great investment.. don't fuck it up. hahahahahaha

Quote from: Tmoonz on January 28, 2025, 11:48:13 PM

Quote from: Mayor of ogba on January 28, 2025, 09:07:02 PM

[edited out]

Exactly, but the truth is that aside shelter, food and clothing, there are other things that can be prioritize as to be considered a basic needs which might completely differ from the next person. In a real sense, until a man is good enough to satisfy whatever he or she considered to be his or her basic needs, and have a left over cash to invest in Bitcoin he or she can not successfully be investing in Bitcoin without selling the Bitcoin along the line to solve their other needs, it takes discipline to have a good direction of how we spend even the little we have wisely in a much better ways compared to those that have more.

I agree with your overall point that some kinds of costs are more flexible than other kinds of costs, but even come of the basic costs, such as food, shelter and clothing, can have way more flexibilities than what we might have had considered to be possible.. So sometimes we might need to be creative in how we consider our costs.. so sometimes with food we might find some ways that we could buy in bulk or at a discount and then share the costs with neighbors so then some of the food quality might be better and the costs might be cheaper. With shelter we might consider various kinds of sharing relations that might help to reduce costs, and sure we still have to consider how much we might want to sacrifice in terms of cleanliness, space, privacy, safety and/or proximity to other locations that we need to go. With clothing sometimes there might be free or low cost ways to get clothes, but also sometimes there might be needs to buy some more expensive clothing, but we might consider if there might be better places to source our clothing.

Many times we have to be careful in regards to some of the ways that we might be saving money, since sometimes it would be better to spend more money on certain kinds of things for either creating a good impression or maybe for your own health and well-being it may well be better to be eating higher quality foods like meat and eggs rather than bread and/or snacks that might seem cheap but they are not good for your health. Also, it might be better to locate lodging that is close to various places that you need to go so that you are able to better use your time.

Surely many of us already discuss that if there are ways to increase your income, then that may end up being way better than reducing your expenses, and many times there are ways to pay attention to both...for example, a guy might really want to buy a car, and he knows it will increase his opportunities for income, yet he might end up figuring out that a motorcycle might give a lot of the same benefits with way fewer costs... so there can be difficulties to know, and surely sometimes getting the car would be better as a way to improve status, so there could be ways that a car could end up paying for itself even though it is a way higher cost item... and each guy has to figure out these kinds of matters in terms of his own situation and circumstances... and even with a car sometimes it might be better to buy one in the middle of the range rather than buying overly cheap or overly expensive.. so there can be some value spent in learning about trade offs with different models, if you are going down the road of figuring out what might be best bang for the buck...with a lot of the various tradeoffs that could come from choices.