Not withdrawing from the investment should be the goal, but it does not need to delay getting started and buying your first $10 of bitcoin, especially if you figure out that you have $10 available. You were considering to buy $10 worth of cigarettes to smoke over the next two weeks, but instead of buying the $10 in cigarettes, you decide to not smoke for the next two weeks and buy $10 worth of bitcoin. What is wrong with that? It is a trade off. You already had the $10 that you were going to use for cigarettes, but you change your mind. It is not like the cigarettes were needed.. they were optional. .they were discretionary.. So instead of using the discretionary income for cigarettes, you decided to buy bitcoin with it... That means that it was extra money that was beyond your needs for expenses..at least in regards to that initial $10. Sure, for next week you might have to figure out if you have any discretionary income, but at least you got started with your first $10 and you are going to have to figure out whether and/or the extent to which you continue to have discretionary income that you are able to continue to buy bitcoin on a weekly basis (or whatever other determinations you might subsequently make regarding additional bitcoin purchases, if any?).
Yes sir, sometimes it is the best decision to stop the habit of wasting money to be able to buy Bitcoin. Many people misuse discretionary income and that includes me in the past because in 2019 I often spent $300 of discretionary income just to gamble, I thought that gambling could increase my income because I could win but all that was the biggest mistake and I realized it when my money ran out in gambling.
Of course, each of us probably either have been such a category of wasting our money or we know others who engage in such behaviors, and they seem to be unable to control their own desires to gamble, and perhaps they are not disciplined and they even know that they are engaging in a bad habit. I know a guy (an in-law) who gambles anywhere between $20 and $100 per week on scratch ticket (lottery tickets), and he does not have any bitcoin. Amazing how rich he could be since I had been telling him about bitcoin, if he had put that scratch lottery money into bitcoin. He has some other bad habits too that relate to smoking, drinking and taking drugs (even though I think he probably does not have to spend much on the drugs since I think that he sells it. .kind of in covert ways).. I am not sure but he has quite a few bad habits that cost him money and probably he could be pretty well off by now. I cannot recall if I first told him about bitcoin in 2017 or perhaps it was a later date. He did have some time that he was not really able to work.. but generally even we started from early-2020, and if we figured that he could have had invested
$100 per week then by now he would have had invested right around $26k, and he would have 1.0553 BTC, which surely would not be a bad place to be in regards to savings/investment into BTC.
When I think long term of course I have to use discretionary income for my future and one of them is choosing to invest in bitcoin. It is true that sometimes gloomy times lead us in a better direction if we can think and reflect on what we have done before.
Honestly, discretionary income is my first step in choosing to invest in bitcoin, also with side income/bonuses I can increase purchases more aggressively at several stages.
With our routine, when we look at the portfolio of course the pile of bitcoin investments has increased because of our routine in buying bitcoin every week.
So I agree with you, wasting money should be stopped because it is only for a moment and has no benefit for us, so it is better to invest discretionary income in bitcoin.
I am not even proclaiming that guys need to eliminate all of their waste and/or fun money and/or their bad habits, yet I am suggesting that there likely are many situations in which guys are going to both be able to get started investing into bitcoin, and they also will be able to figure out ways to buy bitcoin every week. Surely some guys might take some time to figure out their finances and psychology in order to get their finances and psychology in order so that they might start out with $10 per week and then be able to slowly increase their weekly amounts as they get to both stronger cashflow management but also figuring out that it is going to be to their better interest to be attempting to be focusing on bitcoin investing, or at least to include bitcoin investing as something that they reinforce (and practice) on a weekly-ish basis or however frequently that they are able to reasonably accomplish within the boundaries of their own other balances in their life, even if they might choose to keep some of their bad habits... In the end, they choose and they can enjoy and/or suffer the consequences, and many of us know that even small amounts of investing into bitcoin every week is not like we are not giving anything up, since even $10 per week can start to add up to a lot of value, and also we might have to spend a lot of time learning about how to source our bitcoin and various other ways of making sure that we are comfortable with how we are investing in bitcoin including perhaps making some plans and projections around our bitcoin investment efforts..
All these sub 100k prices, its nice. My DCA buys are loving it at the moment.
Even though I'm being super patient I would love some uppity to happen again and leave the 90's behind.
Keep stacking :-)
For sure, there can be a dilemma because we want confirmation, yet if we are still in our accumulation phase, then there should not be any rush.
Of course, at some point we might start to sense that we are close to having enough or more than enough, so we might start to stack less frequently and less aggressively, and surely based on your forum registration date, you may be coming to your own first full cycle anniversary, even though I recall that you mentioned that you might not have had as good of a focus in your earliest of bitcoin times in terms of your accumulation of dee cornz, but surely as we stack and as our holdings are in profits, we likely need not feel any rush to experience UP, even though surely after we have accumulated quite a bit of dee cornz, we also likely realize that we can get to our goal with more stacking and a little bit of more up or we can also get to our goal by a lot of up and without necessarily stacking anymore...so yeah, there can be dilemmas, especially after we have been building our BTC stash for a bit of time, such as one whole cycle (which surely you are getting close to that in terms of your forum registration date..even if you might have another date that you would characterize as your "actual" and more representative BTC stacking starting date).
This time,is the time to accumulate BTC and build your investment goal using any the strategy that suitable for you to buy and hold for long term and not trading out your investment in short term,here we are talking about the future,long term investment is our future and BTC can give us that future.
Anyone who is trading his or her BTC is making a very big mistake,BTC is to be accumulate for long term for those who true believe, in other for them to make a hugde profit in the future.
Don't be deceived; there's no right time to say it is the perfect time to accumulate bitcoin, so the only time that is right to accumulate bitcoin is when your accumulation money is readily available, and you adopt the DCA strategy and accumulate bitcoin right away without waiting for any price or for bitcoin to dump. Since you are a newbie or a lower coiner, your focus shouldn't be centered on teaching so that you will not get distracted from things you are supposed to know. If you have already started investing in bitcoin, you should just focus on your accumulation process and your learning process and leave teaching us for now. When you have gained more knowledge about bitcoin, you can now start to share your knowledge with us, and we will learn from you.
It seems you misunderstood what he or she is saying in the post and it still appears like you are saying what he or she has said in a different format or style and I don't think he or she is wrong in this post because it is actually the truth about Bitcoin, the best way to go about it is to set out your discretionary, accumulate and hold for a long period of time which in turn will give us what we desired. However, sometimes it look somehow when newbie is teaching or giving ideas to people that has more experience ( Rank ) but the truth is it doesn't really matter because some newbie has been in the field of investment for some time before they join us here some since what he or she is saying is not wrong what we need do is embrace it and work on it and perhaps other newbie who will join can still learn from it.
You may have a decent point sotelorene. It is true that we cannot always know the level of experience of any forum newbie, yet it would also be helpful if newbies might describe some of their background and/or experiences, especially if they get into situations where they are trying to say what other guys should do.
I agree with the idea that many of us can learn from almost anyone from a variety of experiences, yet some guys do sometimes need to learn how to present their ideas better so that they are not lecturing other guys in general kinds of ways that might not seem to mean anything if they either don't give examples or explain why they might agree or disagree with prior points that were made in some previous post(s).
Some members also seem like bots, so it might take several posts from them before we start to get used to them, especially if they are not a bot or perhaps overly relying on AI to draft their posts. It seems better if guys might talk about their own experiences sometimes (not giving away OPSec) or maybe provide some examples that will help to make us see that they are actually engaging with the topic in ways that might be more helpful to other members. (probably helpful to themselves too.. since sure we do not necessarily need to be here to help others, since writing posts and interacting might still be just to help ourselves to understand better, and nothing wrong with those kinds of interactions and/or questions that guys might have).