Quote from: Joy- maker on Today at 01:05:13 PM

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

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

Quote from: Jostern on Today at 09:29:51 AM

Quote from: Silikiem on Today at 12:43:34 AM

Yes, please more emphasis should be laid on the long term investment and not giving 5 years of consistently accumulating bitcoin, I’m not saying 5 years is bad, bitcoin is a long term investment and it’s more preferable you accumulate and hold beyond 5 years. Patience is key to bitcoin investment, and also being consistent while accumulating.

Before you think about accumulating you should also consider your level of financial freedom and your source of income, to stash up Bitcoin which is also known as accumulating you have to consider your expenses, if after your expenses are resolved you can then think of accumulating your Bitcoin holdings with a good strategy by using the DCA method, we all know that Bitcoin is a volatile asset that is why it is important to also consider a long term investment, 4-10 years is a good longer term to accumulate and have a sustainable profit in this time duration if you also consider buying aggressively with the right strategy, and not over doing it to affect your financial plans and expenses.

We all can agree to that infact most people that's been secretly following up this thread to gain proper knowledge about Bitcoin should've taken note of that, one's financial status is very important when it comes to Bitcoin investment, someone that's jobless shouldn't even consider Bitcoin but work hard to get a means of earning so they'll be able to invest consistently and meet up their target for the future, now that's my focus for this discussion, 4-10 years of investment is fair enough atleast one must have stashed up their portfolio and get reasonable profits in a full circle if they invest, let's say 50-$100 weekly but going beyond that time frame makes lots of sense to me, I'll even prefer 10-15 years or more if possible, Bitcoin is for the future and we all hope that it would be much more better in like a decade or two more from now and anyone that can hold till that moment with continuous accumulation would be making generational wealth for themselves.

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.

investing in bitcoin is not limited to rich only anybody can invest in bitcoin provided the person has a source of income, discouraging people not to invest in bitcoin, because they don't have strong source of income is very bad, but rather encourage them to start investing with little amount money they can afford to invest consistently using the DCA method either weekly or monthly, because if they start accumulating bitcoin now with little they can afford and hold for long term 5 to 10 or more they will end accumulating a good portion of bitcoin.

Initially bitcoin was created for everyone as a solution to eliminating the need for any third-party or financial institution, but due to its volatility it pleases people to see it as a store of value of which has been profitable to a lot of lot of holders. Irrespective of the fact that alot of holders have been profitable from their holdings, it doesn't justify that bitcoin is safe or profit is guaranteed. Alot of people like to consider the merits without considering the demerits and that is why we often hear people call bitcoin scam, or tag bitcoin to those shitcoins probably because of their performance without properly understanding that bitcoin is entirely different any project that seems to have thesame form. So yeah the poor can invest in bitcoin but the most important thing is to have a source of income to fuel their enthusiasm and accumulate using any strategy that suits them but most recommended the DCA strategy. However If anyone wishes to invest in bitcoin without a steady source of income, I'll advise they get a job first because investing without a source of income is easily predictable that they'll end up spending back their investment if problem arises.

Even if they get a source of income then they should also understand the concept of risk management and consider investing only from their discretionary income so they don't make mistakes of using money for other important need to invest in bitcoin and later go back to make withdrawal when they realize their mistake or when the need becomes extremely demanding.