Quote from: ZeroVinsonN on April 02, 2025, 10:16:46 PM

Quote from: Barikui1 on April 02, 2025, 06:16:16 AM

Quote from: Stable090 on April 01, 2025, 06:50:34 PM

When we are holding bitcoin, our plan for bitcoin should be a long term investment, nobody knows when bitcoin is going to pump or dump, if we end up taking loan to buy bitcoin, and it’s start dumping, how will you be able to pay back your loan? So if you don’t have any other sources of income to pay for the loan, then avoid loan to invest in bitcoin.

Why would you invest in Bitcoin when you have no source of income in the first place?
For you to be able to invest in Bitcoin consistently, you must have a source of income paying your bills and the decretionary income left can be used to invest in Bitcoin, but if you have no source of income then you invest in Bitcoin just because a few box got into your hands, it's just a matter of time before you withdraw your Bitcoin, sell it and use the money to take care of your financial needs, so having a source of income is a must, in other to be successful as a Bitcoin investor.

That is why when a loan offer comes in, the first thing that gets to your head as a sane investor is how can the money be payed back from your salary or wages, not from your holdings, if the money can debited bit by bit from your salary and the interest is low, bro it is a loan that should be properly utilized, because opportunities like that doesn't comes handy like that nowadays.

Investing in bitcoin requires that you should have a stable source of income that makes provision for discretionary funds after all necessities have been taken care of, anyone without a source of income should not invest in bitcoin untill the they have secured a good source of income, this is because without money you can't invest and you don't just plug money from trees, you need to work for it, some work harder than most depending on the job/business, and your income has to be high enough to yield discretionary funds before you invest, because you should never invest with the money meant for paying tax and footing your bills, and also while investing in bitcoin with your discretionary funds, a percentage of your discretionary funds should be saved up for emergency purposes so you don't end up selling your bitcoin when you run into a financial crisis and are in dire need of money.

It is actually good and advisable to have a secured job or work before starting an investment but then I think sometimes the most important thing is starting first because someone who is serious and determined will take responsibility and make sure to keep on accumulating and holding. Over time I realized that having task at hand sometimes makes people to become proactive because if you haven't start at all you won't bother yourself to make sure to keep your investment but if you have started, some persons will begin to sort out things and things they were not doing before they will began to do it just to ensure they meet up with there investment and this kind of person they know how to economize and manage things because that is just the stage they find themselves.