Quote from: Tungbulu on Today at 08:28:35 AM

Quote from: JayJuanGee on Today at 12:24:18 AM

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It’s a lot more understandable when newbie investors are still dwelling on the profit maximization mindset when investing in Bitcoin, but as one advances and becomes more experienced and equipped, it’s important to make a shift in focus from the profit maximization approach to wealth preservation and management approach.

It is likely that each of us will continue to monitor the extent to which our BTC holdings are in profits, yet the extent to which they are in profits should not really be a great motivator when it comes to figuring out where we are at. Are we still accumulating bitcoin or have we passed into a maintenance stage. if we are in a maintenance stage we might well be wanting to preserve our overall bitcoin size, and sure we might buy and sell from time to time, yet whatever we do would not be decreasing our bitcoin stash with any kind of significance. Maybe at some point we might conclude that we are able to live off of our bitcoin or to use our bitcoin to supplement whatever other income that we have, then at that point, we might start to draw from our bitcoin based on price based withdrawals (hopefully in a sustainable way).. and/or time-based sustainable withdrawals.

Historically Bitcoin has continued to have quite a great value appreciation so that once we are at a decently sized stash.. possibly at an overaccumulation level, then likely we can figure out systems to start to withdraw from our bitcoin stash, and our withdrawal rate may well end up being way less than the amount that the bitcoin is gaining in value (even accounting for the debasement of the dollar and other fiat currencies).

Quote from: Johnlomape on Today at 12:21:48 PM

Quote from: MainIbem on Today at 10:16:42 AM

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It is unfortunate that someone that does not have a strong source of income may not be able to invest in Bitcoin. Bitcoin investment is known to be make those who have the money more richer than someone who is saving to invest in Bitcoin. Is like trying to fetch water from a well using a cup tying a rope to it to get water to fill a drum. This process is going to take a longer time or even days for such to be achieved compared to someone that has a big bucket to fetch water from the same well.

I have concluded that those who have the capital have upper hand to make more money from Bitcoin than those that would have to save money to a particular extend before they can invest in Bitcoin. The system is built for the rich not the poor masses.

What good does it do to whine about being poor? If you have identified bitcoin as a good investment, you can try to figure out ways to accumulate it and to potentially increase your discretionary income so that you can buy more sooner.

Sometimes for younger folks it is better to focus on training themselves to be able to get higher paid jobs in the future or even to invest into some kind of business where they can leverage their labor and to be able to make more than they would be able to make if they were working for someone else.

Surely each of us has to work with the assets that we have to figure out if there might be ways that we can increase our discretionary income in the event that we believe that we do not have enough discretionary income.

I do agree with you that investing in bitcoin or any other investment does favor the rich, yet there are ways that less fortunate folks can still get advantages and to advance more than people who are way better off than them, especially when it comes to bitcoin.. we have already seen in bitcoin that there are folks who have identified bitcoin as a good investment, and have focused on accumulating bitcoin, and we are still early to bitcoin in terms of overall world wide adoption so anyone developing a bitcoin plan and putting it into action sooner rather than later is likely going to be advantaged by his having had taken such pro bitcoin accumulation actions - especially focusing on buying bitcoin and not selling it or trading it..

Quote from: Barikui1 on Today at 02:07:56 PM

Quote from: Solokan on Today at 01:32:36 PM

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The truth of the matter is that Bitcoin is on the rise, so it's either you join the moving train now or miss out and regret later, because in the short time of it existence, it has proven over and over again that it's an asset that appreciate in value overtime and even when it deeps in value, it can always recover no matter the market conditions, and it's only those myopic investors that can't see the bigger picture of it, that later regret after selling in a loss, because to the best of my knowledge, once you invest in Bitcoin, it's near impossible to be at the losing end if you are actually holding for long time.

I can still remember when Bitcoin rose to $69k at first and most people bought it then, when it crash to $16k some Investors were regretting that they bought it too costly, so fast forward from that time till now, it has gone up above $100k and now it's presently at $97k plus, so this alone entails that it can still go up further because it's on the rise, and it's still very cheap comparing to how much it might get up to in like 10 to 20 years time from now, so what am trying to say is that if you are only thinking long term when dealing with Bitcoin, you will hardly be at the losing end of your Bitcoin investment, because probability of being in a massive profit is way higher than the probability of being at a loss if you are actually holding for a longer duration.

Even if someone had gotten into bitcoin towards the top in 2021, they would have had still done o.k. and even better if they continued to accumulate bitcoin.

Let's say for example a person in his early 30s with an annual income of around $30k got into bitcoin right around the $69k top, and maybe that person made various lump sum buys throughout late 2021 that ended up averaging around $60k, and so maybe they spent $10k of their savings on bitcoin, and so they got right around 0.16666667 BTC.

That person may have had been expecting the BTC price to go up to $100k and beyond, yet if the person had more than a 10 year investment timeline, he may well would have had decided to continue buying bitcoin on a weekly basis, and maybe he had even started DCAing into bitcoin with $100 per week in early 2021, so he has 4 years buying bitcoin at $100 per week and then he made various lump sum buys near the 2021 top.

So with his 4 years of buying bitcoin at $100 per week, he would have invested around $21k and accumulated about 0.5148 BTC, and so his total investment by now would have had been about $31k and with 0.6814667 BTC (with a 200-WMA value of $31,671 and a spot price value of $65,712). Not a bad stash size, even though not quite yet large enough to replace his current income level.. but surely on a good path to be able to achieve such replacement of income within another cycle or two of ongoing BTC accumulation.

I personally prefer using the 200-WMA to figure the extent to which the guy is in profits, which currently he is at break even, and he has both invested a whole year's salary and the 200-WMA values the stash at about the same rate.. yet if he keeps investing, the 200-WMA is likely going to continue to grow faster than the amount that he puts in, and it seems to me that he is starting to be in a good place to really start to profit from the compounding of value effect, even if he might still need to continue to invest at $100 per week or whatever his income might allow since with the passage of time he may also be able to increase his income and his investment into bitcoin.