Quote from: Tungbulu on Today at 07:46:03 PM

Quote from: JayJuanGee on Today at 06:19:50 AM

Quote from: Tungbulu on Today at 03:57:51 AM

Quote from: JayJuanGee on Today at 12:25:57 AM

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When we are in the midst of building our bitcoin holdings it can be difficult to know if we are doing the right thing or not, and you can imagine that poor people are likely not used to accumulating so much wealth, and so they might already start to conclude that they have enough or more than enough bitcoin and they have not even hardly accumulated 25% of their annual income into bicoin, yet it still seems like a lot of money for them to have so much in one place, and they are not used to having had accumulated so much wealth in their whole life, and it is ONLY 25% of their annual income, and maybe it took them 2 or 3 years to get to that level and they feel really rich.. even though it would likely be better for them to keep accumulating until they have invested a whole year or more in to bitcoin.. .and no I cannot really determine for someone else how much is enough or more than enough.

I do know that my standards are different right now as compared to what they had been in 2014 and 2015 when I was starting to come to the conclusion that I had accumulated enough or more than enough bitcoin.

I share in your thoughts about the challenges of determining when one have accumulated enough Bitcoin, especially when the person isn't really used to having sufficient wealth. The feeling of having enough wealth can actually be subjective, and could be mostly influenced by a person's current financial situation as well as their past experiences too.

I think it's also very interesting that you've also mentioned the psychological aspects of wealth accumulation, especially those who are relatively new to Bitcoin investment. It can be both exciting and also intimidating seeing a significant amount of wealth piling up in your custody, which could potentially lead some people into believing that they've actually reached their financial goals when in reality, that is not actually true.
Sure, people's standards and goals can indeed switch and change overtime and your point about that is well taken. The more people advance and gain more experience and knowledge, their perspective or thoughts on what the term enough actually means could potentially change dramatically, and the time factor also plays a very vital role in this too, what people considered as a fortune today would not really appear to be the same in a couple of years to come. Which is why everyone should consider setting very clear financial goals and have a well thought out long term investment strategy as this can help individuals stay focused on their long term objectives and also avoid making impulsive decisions based on the short term fluctuations of the market.

It can be difficult to create and maintain clear goals, so in some sense there might just be ballpark goals, especially when it comes to further into the future, including 4-10 years or more into the future. Even though time will likely fly by fast.

Initially the clear goals might be merely to get into a habit of buying bitcoin every week and solidifying cashflow management systems and practices... so there could be stages that the bitcoin investment grows more and the cashflow management grows stronger, yet it can be uncertain regarding how long it is going to take to get 1 years income invested into bitcoin for example. . and yeah if it can be figured that a person is investing around 10% of his income into bitcoin, then it may well take right around 10 years to get to 1 years income invested into bitcoin. There could be times where the person is able to invest more aggressively (or a higher percent) , but then there might be other times that the person has to cut back the amount invested because income is shrinking and/or expenses are going up.. in other words discretionary income is shrinking.

Young people may be wanting to get job training and/or to attend university, so there could be some difficulties earning income during those times, and expenses might be high relative to income... and even if a person does not have questions about job skills, there can frequently be questions regarding what kind of work to do that will both al.low for personal satisfaction and decently sufficient pay... or some jobs also might be considered as temporary jobs... so then objectives might change, even when we might have had told ourselves what our goal was, but sometimes we might be forced to focus on some intermediary and maybe short term goal that might take us away from accumulating bitcoin, so then we might have to figure out the extent to which bitcoin remains a high enough priority or if there might be ways to redesign our activities to make sure to keep bitcoin accumulation as one of our main goals, even though we might not be in a position to make the goal clear, but instead just to establish our goals directionally and weighing various costs and benefits... since sometimes if we might see that we can increase our income, yet there might be some short term loss of income, we still might consider increasing our longer term income as the better path.. even though there might be some delays in regards to bitcoin and maybe the amount of bitcoin that we are able to accumulate becomes a bit less certain for a period of time.

Quote from: In_cu_bent on Today at 10:09:12 PM

Quote from: Cgrexp on Today at 12:21:27 PM

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Thirdly, you are talking about mental capacity, why will an investor become mentally unstable and emotional when he invested within his discretionary income and since he will be investing using the DCA strategy i don't think a problem will arise.

You should be careful In_cu_bent, since there are various levels to DCA, and DCA can also be combined with lump sum buying and buying the dip, even though if we are talking about a beginner, they might not need to try to buy the dip.

Another thing is that anyone who is new to investing into bitcoin, he may take some time to get his finances in such a place to get used to investing in bitcoin and figuring out a way to be as aggressive as he can in regards to buying bitcoin, yet without over doing it. Of course a person could choose a whimpy bitcoin investment approach, yet he might want to make progress faster in his bitcoin investment, even if he might already know that he is investing into bitcoin for 4-10 years or longer and perhaps for life, yet he might get into bitcoin and he might not initially know how long his investment timeline might be or that he is making a life time investment, even though the longer that he invests into bitcoin, he may well come to recognize and appreciate that his bitcoin investment is for life (yet not that many newbie bitcoin investors will likely come to such a conclusion until after investing into bitcoin for a while and ongoingly learning about bitcoin while they are investing into it).