Quote from: Futurexxx on Today at 09:00:19 AM

Quote from: Gost ms on Today at 04:29:17 AM

Just as a sensible income is needed to start investing, 2 more things are needed
1 Basic knowledge about Bitcoin
2 Faith in Bitcoin

I wonder what type of sensible income you are talking about because to the best of my knowledge, their are so many guys out there that wish to invest in Bitcoin that are earning a sensible income as you called it but still can't figure out their discretionary income, what an investor need in other to invest in Bitcoin consistently is a discretionary income and the will to hold for a very long period of time, because if he has the will to hold for the future, he will put down measures that will make him develop a strong holding hands, like having an emergency and reserve funds in place to protect his investment against any unforseen circumstances that may arise in the future.

You are right Futurexxx that having discretionary funds is necessary from the start, and a discretionary income is needed to continue to invest into bitcoin, yet a discretionary income is not needed to get started, only discretionary funds are needed to get started.

Part of the reason that this is important is that people keep mixing up what is needed to get started and what is needed to continue to invest.

Surely even I outline 9 individual factors to consider when starting to invest into bitcoin, yet guys do not need to have concrete answers to each of the 9 individual factors at the time that they start investing into bitcoin, and it is likely that they will continue to develop their assessment of their 9 individual factors and to adjust them through the years as they continue to build their bitcoion investment and strengthen various aspects of their cashflow management systems and practices.

Quote from: Yablee0 on Today at 09:20:50 AM

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Quote from: Stormisover on August 08, 2025, 03:38:34 AM

For sure there is nothing wrong having arguments even though sometimes some people can be too entitled to their own opinion without giving a second thought to what others are saying, for those you are referring to that are using their mouth to accumulate we don't have to worry about that and think more about our self and our achievements because we are all responsible for the consequences of whether or not we invest in to Bitcoin, Bitcoin is not begging anyone to invest in it for it to be called Bitcoin.

It is a waste of time to think if people are accumulating bitcoin or not, because it is none of anyone business. Whether invest or accumulate or not it is not anyone's business but the result will always speak. Bitcoin is personal and what you need to focus on is how to accumulate your bitcoin and make a better profit as result and nobody cares about your own result. Their is no need to be worried about others people investment.

In fact, the value of Bitcoin will never stop for anyone, it will continue to improve over time, and if you want to achieve success from Bitcoin investment, you need to deposit as much as possible, that's all. There is nothing that is beyond your ability to understand, the more Bitcoin you deposit and the longer you can hold it, the greater your success will be, you should move forward according to your own plan, discipline and goals without worrying unnecessarily about other people's strategies, because the money is yours, the investment is yours and the success is yours, so investing effectively instead of thinking unnecessarily is the right decision.

I agree with you that each of us should be attempting to accumulate as much bitcoin as we can without overdoing it. If we overdo it, then we end up having to sell bitcoin at a time that is not our choosing or we might end up with some other financial and/or psychological problems based on our bitcoin accumulation obsession.. so we have to be careful not to overdo it and perhaps to make sure that we have back up systems in place in the event that we make mistakes so that our mistakes do not have too severe of an impact on us.

Another thing is that the extent to which we chose to be aggressive or whimpy in our bitcoin accumulation remain discretionary matters, which means that each of us is free to choose our level based on our own perspective of matters, including our own assessment of our individual factors.

You are very correct sir, bitcoin investment shouldn't be overdo in any way, let your approach in every investment be setup from your discretionary funds to avoid some unnecessary tension that might surface later in future.

secondly, also avoid being in a competition with anybody in bitcoin accumulations so that you wouldn't start having issues along the line, however always buy (accumulate) or top up your bitcoin portfolio at your convenient time using your discretionary funds, therefore this steps or techniques that is been mentioned can trigger success through patient in every bitcoin investment.

The main point about overdoing it has to do mostly investing beyond ones discretionary income and/or not having enough back up funds and/or engaging in sloppy cashflow management that results in running out of funds because expenses are either greater than income or greater than any back up funds that are in place, and of course, there are degrees to how much damage guys might do depending on how badly guys screw up, and surely smaller level mistakes might not even cause a lot of damage, yet surely greater level of damages would be being forced to sell large portions of ones bitcoin holdings at a time that is not of their own choosing and/or maybe screwing up cashflow management to such an extent that a guy is not able to continue to accumulate bitcoin during extended periods of time.

Surely the worse situation would be ending up with way less bitcoin than what he would have had otherwise had and perhaps never reaching fuck you status that he could have had reached or even perhaps having delayed reaching fuck you status by many years.. and/or never really reaching a place that he could have had otherwise been able to reach if he had not screwed up... and yeah, sometimes not having options can have fairly negative impacts upon a person's life... even causing bitterness, resentment and/or having to make choices that he had not wanted to have to make.

So for sure there are degrees to the idea of giving suggestions that guys should attempt to be as aggressive as they are able to be without overdoing it,, and guys are responsible to figure out their level of aggressiveness and what would constitute overdoing it from their own financial and/or psychological standpoint, so if they end up overdoing it, then they pay the consequences and I suppose that they can hope to have negative consequences that are less severe rather than more severe, yet even the failure to keep adequate back up funds could end up in quite costly damages that are not able to reverse once they happen and the mere fact of having sufficient back up funds could result in circumstances of having had either avoided or greatly mitigated the damages that ended up happening.

Quote from: Tungbulu on Today at 09:34:04 AM

Quote from: Futurexxx on Today at 09:00:19 AM

Quote from: Gost ms on Today at 04:29:17 AM

Just as a sensible income is needed to start investing, 2 more things are needed
1 Basic knowledge about Bitcoin
2 Faith in Bitcoin

I wonder what type of sensible income you are talking about because to the best of my knowledge, their are so many guys out there that wish to invest in Bitcoin that are earning a sensible income as you called it but still can't figure out their discretionary income, what an investor need in other to invest in Bitcoin consistently is a discretionary income and the will to hold for a very long period of time, because if he has the will to hold for the future, he will put down measures that will make him develop a strong holding hands, like having an emergency and reserve funds in place to protect his investment against any unforseen circumstances that may arise in the future.

You're absolutely right Futurexxx in your assertion. It doesn't matter the size of a person's income, if he's not able to figure out his discretionary income, it'll be impossible for them Invest in Bitcoin, even if they move ahead to invest in Bitcoin without actually figuring out their discretionary income first, they'll end up making a huge financial mistake along the line which could potentially send them back to square one. This is the mistake that most people often make, they feel an individual's chances of investing in Bitcoin is dependent on the size of their income, which is in fact a wrong perspective of approaching Bitcoin Investing. Once again, people don't accumulate Bitcoin with their income, but discretionary income.

Many times people do not figure out exactly what is their level of discretionary income, yet they already kind of intuitively know how much money they have at each pay period and how many expenses that they have and they roughly understand that they have to either spend less than their income or that they have to have back up funds for those cases in which they might want to spend more than their income for that period.

So at the same time, anyone who had not previously been saving/investing and holding their value in some potentially volatile asset such as bitcoin, they might not realize the importance of safeguarding their investment (bitcoin in this case) from being tapped into at a time that is not of their choosing.... So accordingly, once they start investing into bitcoin, they have to get into the habit of keeping greater levels of backup funds than they would have had in their lives prior to their having been investing.. and they likely need to attempt to create systems in which they mentally block themselves from either tapping into their bitcoin or thinking about their bitcoin as a place in which they can tap into for 4-10 years or more and perhaps ever time they put new money into their bitcoin, that new money that is put into bitcoin should be considered as locked up for 4-10 years or more.

After these better habits of maintaining back up funds and even making sure to mentally separate the value of bitcoin while building it up, then hopefully with the passage of time and the ongoing continued investment into bitcoin, the person will figure out plans that account for how much bitcoin that they might be shooting for (including accounting for its dollar/fiat value) and then to consider at which points they might transition from their bitcoin accumulation phase and then into their maintenance phase and then into some form of sustainable withdrawal phase, and surely sometimes the phases will have some overlap with each other.

Their identifying where they are at should help to inform them on their strategies, yet it can take a decent amount of time of practicing the employment of strategies and to even tweak their strategies from time to time in light of where they are at and considerations of where they would like to get to.

Quote from: Fiatless on Today at 09:47:25 AM

Quote from: Yablee0 on Today at 09:20:50 AM

You are very correct sir, bitcoin investment shouldn't be overdo in any way, let your approach in every investment be from your discretionary funds, also avoid being in a competition with anybody in bitcoin accumulations so that you wouldn't start having issues along the line, however always buy (accumulate) or top up your bitcoin portfolio at your convenient time using your discretionary funds, therefore these steps or techniques can trigger success and sustain patients in every bitcoin investment.

Based on the economic situation in Nigeria, it will take lots of sacrifice for a minimum wage earner to have discretionary funds. The cost of living is going high and salaries have not been increased making people spend all they have earned for the month on basic needs.

This is when we need to cut down on expenses that we don't really need. Focus on buying durable items because it will help to save money since they last for a long time. Take advantage of seasonal foods because they are cheaper. Find alternatives to expensive products; there are always cheaper substitutes. Take care of your health to avoid medical expenses due to an unhealthy lifestyle. Investment is important, so there is a need to make some sacrifices.

Of course, if you don't have any discretionary income, you cannot invest, and if you put money into bitcoin with non-discretionary income you are trading/gambling. Not investing.

Increasing discretionary income comes from increasing income and/or cutting expenses, and surely there can be some locations in which it is quite difficult to increase income, and sometimes there could be investments into gaining skills and/or education or even getting exposure to higher paying jobs through working on networking or even doing unpaid work in order to get inside some positions that might lead to promotions later down the road. Some guys might be limited in what they are able to accomplish in a short period, and some guys might be of an age (or health status) where it might not be practical for them to try to pursue certain lines of higher paying work... which sometimes there can also be questions regarding working for someone else versus creating your own business in which sometimes a lot of capital might be required or certain areas of expertise or access to social capital might be needed for certain lines of business.

Quote from: Shadiq on Today at 11:07:04 AM

Quote from: Tungbulu on Today at 09:34:04 AM

[edited out]

Yes, I agree with you. The size of the income is not important for investment, but whether he is able to separate the discretionary income from that income is important. There are many people who earn more than $1000, but their expenses are not balanced with their income. Due to their family needs or inflation, most of their income is spent on meeting daily needs. Again, there are some people whose income is less than $500, but due to their family needs or the inflation rate of their country, most of their income is added to the discretionary income fund.

We basically have to give importance to discretionary income so that we can separate money from it that I can afford to lose. The above two people have been mentioned where one person's income is $1000 but his discretionary income may not be even $100, while the other person's income is $500 but his discretionary income may be more than $250. It completely depends on the inflation rate of his country and the cost of purchasing goods. Even if his family size is small, his daily expenses are a very small part of his income. In this case, the size of his discretionary income will be large and will bring more benefits for investment. Therefore, discretionary income should be given importance for investment, not the size of income.

You are correct that discretionary income is the more important of the ways of measuring what to do, yet the longer that we invest in bitcoin, we should likely figure out plans that account for a variety of factors that might also consider overall income that we have been making in terms of our target.

So if we have been making $15k per year for 10 years or more, and we are investing into bitcoin, maybe we want to be able to aim to be able to replace our income so then we quit our job once our bitcoin can sustainably support our $15k of income per year... or instead maybe we want to shoot to continue to build our bitcoin until it can sustainably support an income of $30k per year..

We should be attempting to figure out our various factors and our targets based on a variety of ways of assessing current matters, perhaps assessing historical matters and also projecting out various scenarios into the future. We might put ourselves in a limited place if we are merely looking at discretionary income without considering broader factors such as our overall income, whether we might want to increase our overall income, whether we want to work to increase our income and/or whether bitcoin might be able to totally replace our income or to supplement our income..

I frequently tend to consider that guys should be ongoingly building their bitcoin, yet at some point after a guy has gotten to a certain bitcoin stash, the size of his bitcoin stash might inform him about other things that he might consider that he wants to build besides the bitcoin, even though the bitcoin will continue to serve as either the main source of wealth or a way to supplement other wealth that he is simultaneously building.

I do frequently consider that guys might get distracted into inferior investments (buying housing and/or transportation and/or other items that they consider to be investments but might be way inferior compared with keeping value in bitcoin), which will dilute and take away from their building and maintaining their bitcoin holdings. Sometimes guys can make BIG mistakes that take away from their growing wealth through bitcoin, yet each of us has to figure these matters and hopefully come to balances that are ultimately good for our own circumstances.

Quote from: Agbamoni on Today at 01:13:57 PM

Quote from: Fiatless on Today at 09:47:25 AM

Based on the economic situation in Nigeria, it will take lots of sacrifice for a minimum wage earner to have discretionary funds. The cost of living is going high and salaries have not been increased making people spend all they have earned for the month on basic needs.

Minimum wage earner cannot afford to have discretionary income no matter how they try to minimize cost in Nigeria. The minimum amount for an investor to invest weekly is $10 which is around NGN 15,000 and the monthly minimum wage amount is NGN 70,000.

NGN 15,000 time 4 weeks is NGN 60,000.
NGN 70,000 - NGN 60,000.

What will be left to cover monthly expenses would be NGN 10,000. Which we know it is impossible to cover up their needs.

On average a month has 4.33 weeks, so be careful in regards to how you calculate monthly amounts into weeks, so 15,000 x 4.33 is 65,000.

This outline of numbers shows that it is surely problematic for guys to be considering minimum wage jobs as some kind of a standard or target for their own incomes, and so there likely has to be ways to figure out how to earn more than the minimum wage, especially in circumstances in which the minimum wage does not even seem to provide enough discretionary income to be able to invest $10 or more into bitcoin per week.

Another thing is that $10 per week into bitcoin is going to be a real difficult way to make progress, even though surely some guys might consider that investing $520 per year or $5,200 over 10 years and $10,400 over 20 years to be sufficient.. but it seems like a pretty low standard and guys, if possible, should be trying to figure out ways to be able to get to some higher numbers.. of course without over doing it.

Although we know that if a guy had invested $10 per week into bitcoin over the past 10 years, he would be in a very good position right now.. yet we cannot know whether $10 per week in the upcoming 10 years is going to be enough... .. but surely it is better than nothing, and surely if guys are only making around $12 per week, then they cannot be investing $10 per week into bitcoin. At best they might only be able to invest $4 per week, and that level of weekly investment into bitcoin might be difficult with a $12 per week level of income.