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I don't encourage newbies attempting to accumulate 1 bitcoin at the beginning of their bitcoin investment because it will possibly expose them to overdoing their level of aggressiveness to meet up with their aim of accumulating 1 bitcoin in the next 4-10 years, which could put them in the position where they will begin to struggle to solve their daily expenses, and if they are not strong enough, they will have no choice but to sacrifice their bitcoin investment to earn a living. If newbies want to invest in bitcoin, they should aim for a quantity of bitcoin that is easily achievable in the next 4-10 years so that they will have 100% control over their bitcoin investment and be able to solve any problem that may arise through their accumulation journey so that they can achieve success in their bitcoin investment.
Personally, I don't really care that much if a person wants to shoot for 1 BTC within 4-10 years or more or some other timeline; however, I frequently see 1 BTC being mentioned as a target without any sense of realism, and like I mentioned in an earlier post, even a person starting out with an average of $200 per week invested into bitcoin will potentially have some struggles to reach 1 BTC in 10 years, so my concern is that guys are being realistic in terms of setting their goals, and even though 1 BTC tends to be a Schelling point, it still is likely not very realistic for so many folks shooting for 1 BTC without ha ving some kind of a realistic contest in terms of having some pathway towards such plan.
Actually, I know some guys who had goals in late 2013 or so to get anywhere between 20 to 40 BTC within the next year or two, and so at that time, BTC prices were around $1k per coin, and so then there could be some thoughts that it might take $20k to $40k to reach such BTC quantities, and surely since the BTC price went down after that point, and largely stayed below $1k for the next 3.5 years, it became way more reasonable to keep such a goal of 20-40 BTC, and many of those who would have stuck with ongoing bitcoin accumulation may well would have been able to exceed or even double or even triple their BTC accumulation goals within the next 2-3 years.
So surely frequently if we set realistic or even conservative goals, we may well end up exceeding them, even though it may well not hurt to have goals that are aspirational too.. so even the person in late 2013 might have had know that it would also be possible to reach 100 BTC so long as he were persistent in investing, and maybe if he was thinking that after 3 years he might be able to invest right around $90k, then surely it may well have had been possible for a guy with that level of budget to reach 100 bitcoin (or come close to that level), even if he might have had an initial (and more conservative goal) of accumulating somewhere in the 20 to 40 bitcoin accumulation arena.
So in some sense, 1 BTC has become the 100 BTC of 2014, and so wanting to reach 1 BTC, there may well be a need to consider being able to invest $100k to $200k over 2-3 years or even longer, and even if a person might be able to invest $200k in 2-3 years, it might still be uncertain if he is going to be able to reach a whole BTC in that amount of time...so in some sense, it may well even make more sense to aim for how much dollars we might be able to invest into bitcoin rather than aiming for the amount of BTC those dollars might accumulate in the timeframe that we are considering investing those dollars... and sure it does not hurt to have both dollar and bitcoin quantity goals that also consider various timeline considerations too.
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Perhaps this depend on the capacity of the newbie yes, because there are newbie who has the capacity to even do more than 1 BTC within the period of 4-5 years and I don't see anything wrong if this category of newbie wants to..., so long as they have the basic knowledge and have a good management skill to handle there resources then it is fine but a newbie who doesn't have the capacity to..., should take away the thoughts of 1 BTC in this interval of time, as a matter of fact any newbie who doesn't have the capacity and have this thoughts, to me I will see that newbie as greedy investor and this investor can easily fall out from his or her investment because of longing for what is Beyond them. There is this saying that we should cut our coat according to our size that is to say that we should do things within our power and our reach, Bitcoin investment is not a competition neither is it a must to have 1 BTC within 4-5 years.
Yep some folks might know that they can front load their BTC investment with $60k or more over a year, and perhaps even have a budget that allows for another $20k to $50k to be invested each year for the next 3-4 years.
There are some folks who have that kind of a budget, even though surely most people do not have that kind of a budget, so there is going to be quite a bit of variance... even the guy who is able to front load with $20k and then invest $200 per week for the next 4-5 years, he still might struggle to get to 1 bitcoin in the next 5 years, but at least he has some kind of a reasonable chance of reaching 1 BTC or more as compared to guys who might merely have $50 to $100 per week or less, and maybe even few likelihoods of having lump sum amounts come available that will allow meaningful increases to his more or less $50 to $100 per week investment capacity.. which also might be struggling.
There are so many members participating in this forum who consider $50 per week to be out of their reach, so in that sense, there are needs to attempt to be realistic in regards to considering how many BTC might be accumulated over the next year, two years, 5 years, 10 years and longer.
Some guys have possibilities to increase their discretionary income by increasing their incomes and/or cutting their expenses... yet others might not have a lot of hope in regards to being able to increase their discretionary income in the coming 4-10 years or longer.