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Living in a country where live is generally tough for an average citizen, I can understand how tough it is to invest in bitcoin and crypto generally.
I doubt that it is possible to reasonably invest in crypto or shitcoins... That seems more like trading when guys get involved with shitcoins rather than investing, even if they might think that they are investing..
The standard of living has changed significantly for the average citizen making life more unaffordable and finances more difficult to keep. Being able to apportion funds into discretionary funds, emergency, family treats, vacation, buying gadgets or even spare money for miscellaneous is usually almost impossible. The best most of us can do is to sacrifice 60% to bitcoin investment (which is roughly $50) monthly, then the remaining 40% will be for upkeep for the rest of the month (which is around $30). Now imagine living with 30 dollars in a whole month for upkeep, where just buying fuel is averagely 90 cents per litres, fuel alone is more than enough to take the remaining funds for upkeep. This is when you're even earning above the minimum wage which is less than 55 dollars monthly. Now you begin to ask, how many people do really earn above the minimum wage in an unstable economic environment like this?
I will grant you that there are likely certain places where it is quite difficult to figure out ways to increase our income, since it seems likely that it is better to be able to increase income rather than decreasing expenses, since there might not be as many ways to decrease expenses if guys are already living frugally and various aspects of the cost of living continue to go up.
Surely younger people have more potential options to change careers or to shoot for various ways to get training and to potentially advance in higher paying work as the get older, but yes, sometimes folks are already at an age where it might be difficult to change their income levels based on their work, so it surely can be challenging when guys are not able to increase their income as rapidly as their income is begin debased.. and, yes, you are correct that investing ONLY comes from discretionary income, and if your discretionary income is decreasing then you might not be able to invest in bitcoin.. even though bitcoin is one of the ways that guys can be helped to get saved from the ongoing and likely continuing debasement that is going on with all fiats.. .. and surely guys who barely are able to put any money into bitcoin might not be able to directly advantage from bitcoin being available.. but only available as an investment to people with discretionary income... Any guys who are using non-discretionary income to buy bitcoin are gambling (or trading) rather than investing.
I liked it when you used the word frugally, this is exactly the way we're leaving right now especially when there's no certainty to the turn of events as much as the economic activities of the country is. I can tell you with confident that bitcoin is less volatile than the economy of my country right now and this is something others can confirm, in the context that bitcoin has more value than my currency by a hundred and thousands time and even when it goes dip, it doesn't hurt a big investor from Nigeria despite the standard of living.
On the issue of the younger younger people, including teenagers and young adults, you're spot on to mention there's still time and chances for them to fail but fail forward and for them to equally open their minds to navigate swiftly around new challenges and technological advancements like the cryptocurrency world.
This is usually the challenge most of us living developing African and Asian countries in the world are facing. It is not our fault that the economy of the country is hurting, forming among the reasons why many of us choose to diversify and invest in bitcoin which although can be volatile, but has more value than our local currencies. This is again the reason why the DCA approach is always the best advice you can preach to us, as much as yoy Want to benefit the majority of the population. DCAing is more realistic to an average person here than the lump sum investments because for many of us, we may never have the opportunity to venture into lump sum investments in our journey to grow our portfolio unless if you’re fortunate enough to be around the elites, driving the economy.
Sure, I agree with you that DCA is likely the best of choices for poor people who are with relatively low discretionary income, yet I will also proclaim that it is good for everyone to know about their three BTC accumulation methods that also include lump sum and buying on dips, and in regards, to lump sum, we can never be sure that we might sometimes get some extra cash that might not have had been expected.
If a guy is ONLY investing around $10 per week into bitcoin, and then all of a sudden he comes across an extra $500, that would be equal to about a year of his DCA amount, so surely he is going to feel that he has options when he comes across that quantity of extra money all of a sudden and he is able to invest it into bitcoin and/or perhaps the other option would be to shore up his emergency funds and/or his reserve funds.
I enjoy the singular reason which you agree with me about DCA still remaining the best of choice for the less privileged persons. My believe is, bitcoin is not a respecter of any financial class of individuals, it should be a financial platform where everyone including the poor and the rich, the abled and the disabled, the young and the old, etc. While you the poors can still invest in Lump sum, I'm more of the opinion, for many newbies and less privileged persons, they should pay more focus on the DCA while they explore the lump sum options when it avails itself.
DCA has a leverage over the lump sum because it can help the newbies and less privileged manage their risks the more as they still build their portfolio over a period of time. My advice is when your portfolio get stronger then an individual can aim for more and even begin to plan for the lump sum. This advise should work for many interested individuals from this part of the world in my own opinion. A practical example of building your patience and confidence in investing in bitcoin.
As for the $500 example, it will interest you to know that majority of the people may not invest such amount in lump sum and for those who do (maybe by investing 50%), it will make them lazy to continue with their DCA plan or strategy afterwards. If it's monthly, a lot will declde to skip the few extra months ahead banking on the lump sum investment they did to cover it up, but that will be another way of reducing their commitment to consistently run their DCA approach. Ultimately I think what we should preach more than any should be more learning and understanding, patience and confidence.