It's important to invest in Bitcoin because if your financial condition after 10 or 15 years is not good despite all the hard work you do in job then it's you who will suffer. This is also a reality that due to high inflation and low pays people are not left with anything to invest in bitcoin. In that case a person must look for alternate ways on how he can earn and invest in Bitcoin. One way is to create an account here and upgrade it to higher ranks and earn through services like escrow services, lending coins and more. There is no excuse for not investing in Bitcoin.
It is not right to advise or force someone to invest. This can harm you. For example, if you advise someone to invest, if the Bitcoin market falls a few days later and his holdings are losing some money, he may panic and sell his holdings. He will blame you completely for his losses. If someone is willing to invest, then if he comes to you and asks for some advice, then you can present to him the basic knowledge about Bitcoin and the Bitcoin network system. And you can tell him that you can do more research and decide.
Those who have low salaries can continue to buy using the DCA method if they want. You can continue to buy on a weekly or monthly basis
Buying Bitcoin and hold for a longer term will certainly give a good profit ,that is why is alway advisable to invest for long timeline , so when hard works and job fails your investment will help you out.
Surely I agree with you that investment is good for a long time horizon to make profit there after, but I don't agree with you in the statement you've made, that
when hard work fails, your investment will bail you out. I want you to understand that the reason why you invest in Bitcoin is not to bail you out when
any problem arises. Surely it could be that your investment is to solve your problem in the nearest future, but there could be varieties of problem in different magnitude. That is why we have emergency funds, this emergency fund we keep separately will help you to sort or bail yourself out from some emergency problem or some unforseen circumstances that will have lead to using up your Bitcoin investment. there could be reason for Bitcoin investment and it could be for retirement purpose, solving health issues or gifting to the next generation. This could be your major priority for investing into Bitcoin for the long term, and doesn't need any change of focus or distraction. Hence Anything that leed to selling your Bitcoin to bail you out is a distraction, you will Totally avoid any distraction. And this could be done by making sure you always set aside emergency fund each time you invest into Bitcoin or you could be keeping your emergency fund seprate every month as it pleases you sothat when crucial circumstances occours you will be able to bail yourself out from your emergency fund.
To some extent I believe you do not understand me or probably I didn’t arrange my sentence clear or you don’t get my point .
Just as you have said , their could be a reason for investment and it could be retirement purpose ,solving health issues and gifting next generation,for instance a 30years old investor , who has invested for 10 to 15years into Bitcoin , then has an issue in his late 40s or stop working because of one or two reason, sometimes things doesn’t go as per plan , it could be sack due to conspiracy in the office, and it’s not yet time for retirement and you are still healthy , I believe with such your investment could still help out ,so when job fails ,your long term investment could still stand you , that is why it’s good to start investment earlier and with a long timeline.
emergency fund it’s only for emergency if need arises one can just deep hands into your emergency fund and sort it out .
well i think you are not still getting my point correctly. lets hypothetically presume that a person invested into bitcoin for retirement purpose starting from age 30, having the mindset of accumulating 2 to 3 btc or less in the next 25 years [55 years retirement], then it somehow happens that at age 40 such person was out of job, but that doesn't mean that such person will immediately
have to sell his bitcoin to survive
while he hasn't yet met his target which he still have 15years ahead. in this case this is when your discretion income will have to play it role to sustain you till you get another job. if discretion has been spent while you have not yet gotten a job then your emergency fund will be your second hope. if emergency and discretion or backup funds has all been used and there is no other hope then selling
some
portion of your bitcoin investment will be your last alternative.
so all i am saying in anticipation is that when you are out of job, selling your bitcoin to bail yourself out should not be your first priority except you run out of emergency and reserve fund before you can think of selling
some
portion of your bitcoin and
not all
.
this whole concept is all about developing the habit or attitude to make provision of emergency and reserve fund in case problem comes so that selling bitcoin
shouldntshouldn't be the first thing on your mind
, because you
have a long term plan and the sole purpose of why you need bitcoin investment at the first place
is not to sell too quickly but for retirement purpose.