But do you know that for you to be investing in bitcoin either monthly or weekly, you need that source of money that can always be bringing it the inflow of resources. Knowing fully well that your bitcoin investment is for the long term, and you choose to invest on it first, before looking at that extra business that will be bringing the funds in, how do you intend to sustain that your investment? Knowing fully well that this investment is supposed to be for long term. For me it's wise to set up your restaurant business first where you will be seeing profit on daily basis, and from that profit, you can using part of it to run your weekly or monthly DCA on bitcoin.
First of all, I want to say congrats on your new rank. Indeed, the knowledge from this thread is paying off.
You are assuming that starting a restaurant business is the best way to generate funds for Bitcoin investments. But you forget running a business is like starting an investment because success is not 100% guaranteed. Running a restaurant comes with expenses, competition, and unpredictable cash flow. There’s no guarantee that it will provide steady profits to fund and sustain your Bitcoin investments. It does need time to grow and let the foundation of the business grow. It may take a year or more as the case may be.
However, I am still in support that we must have a source that has stability in income flow if we really want to meet our investment target. Jumping into an investment with an unpredictable source of income will affect our investment.
Thanks Man for the congratulatory message, yes indeed knowledge from this thread has been beneficial to me here and offline.
Well in regards to my post earlier, that you quoted, I made reference to restaurant because that's the business that the person I quoted made reference to, so I had to use the business he's familiar with when I was making my post, so he will get a clearer picture of the message I was trying to convey to him. I'm not in any way saying that it's only restaurant business that you must do in order to keep making money as source of income. The restaurant business can be substituted for any other businesses that the investor deemed fit. But the essence of everything still boils down to the fact that investors out there need to have a source of steady inflow of resources while investing in bitcoin.
Although there are cases where an investor can still start his bitcoin investment with money from inheritance or sales of properties. And later figure out that he needs a source of continuous inflow of resources, such investor can still decide to set up a business and run it along side his bitcoin investment.