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Showing 20 of 44 results by Brainnybtc
A person does not need a large source of income to invest. A person can start investing only if they have a reasonable income. Because it is very important to keep your investment consistent because if your investment is not consistent then you can fall far behind the goal of building your portfolio.
What an individual needs to invest in Bitcoin effectively is a discretionary income, you don't necessarily need to we earn much before you can start your Bitcoin accumulation journey, irrespective of how much you earn, once you are able to sort out your discretionary income you can easily invest in Bitcoin and be successful in it if you can be able put in place all the necessary measures that will make you to be successful, like having an emergency funds and a reserve funds to up your investment.So what is your opinion, when will we see a new Altcoin season or will we not see again an Altcoin season?
I posted yesterday about missing out of potential airdrops but i was lucky to join Blum early on Telegram last year. Apparently users have mixed sentiments online about its listing potential.
Well, personally i don’t want to conclude yet given they delayed listing, this might be for better listing who knows, it might surpass our expectations afterall. Some participants stated they didn’t give up on Blum just to get to the end of it while some stated Blum is the last airdrop they’d farm, I don’t blame them though due to past underperforming projects but after coming across its listing announcement. I’m kinda more bullish than bearish about it. Projects are mostly unpredictable but what’s your Blum price prediction ?
Blum have been listed already, but I will say the people who participated in the airdrop will definitely regret participating in it, after working for months, what they will end up getting doesn’t even worth the time which they wasted. The airdrop allocation was just so poor, lots of people were not eligible, and the people that were eligible, what they paid them doesn’t really worth it. I have seen some airdrop participants which at the end, they ended up getting around $2-$3, which doesn’t really worth it. Telegram mining games ended as a scam, people that participated in most of them just wasted their time, because what they received doesn’t really worth it.Well, personally i don’t want to conclude yet given they delayed listing, this might be for better listing who knows, it might surpass our expectations afterall. Some participants stated they didn’t give up on Blum just to get to the end of it while some stated Blum is the last airdrop they’d farm, I don’t blame them though due to past underperforming projects but after coming across its listing announcement. I’m kinda more bullish than bearish about it. Projects are mostly unpredictable but what’s your Blum price prediction ?
It's a terrible learn not just me but other airdrop chasers will learn from.
It is never a good idea to wait to start investing. If you have a stable income and if you have basic knowledge about Bitcoin, then you can start investing immediately. A real investor will never wait for a fall to invest, those who wait for a fall are basically businesses.
You don't have to have a stable source of income before you can start investing in Bitcoin, once you have a source of income, you can start investing while in the process of investing you can start sorting out your emergency and reserve funds.Then you terming those that are timing the market before buying as business is not proper, they are traders fooling themselves thinking that they can outsmart the market, which is very much unlikely.
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It will never be right to sell their holdings until the investment period ends. You have to be patient until the investment period ends.
Even though your investment period ends as you said, it makes no sense to sell everything off and becomes a no coiner overnight, what you should be doing is taking profit from your investment than sell off everything.I guess I’m not missing out on a lot, am I?
Nothing more than a few bucks in BTC every week that could go towards the holdings.
I don't see anything wrong in taking part in discussions, and being able to grow your BTC stash by doing so, whether it's done only in one forum or more, after all, more opportunities = more BTC being collected. Signature campaigns aren't full-time jobs, anyway. One important thing to note is that even in Altcoinstalks, signature campaigns still pay in BTC.
So the question is, can one becomes addicted to trading same way gambling can be addictive?
If yes what are the sign to know that one is becoming a trading addicts?
I posted yesterday about missing out of potential airdrops but i was lucky to join Blum early on Telegram last year. Apparently users have mixed sentiments online about its listing potential.
Well, personally i don’t want to conclude yet given they delayed listing, this might be for better listing who knows, it might surpass our expectations afterall. Some participants stated they didn’t give up on Blum just to get to the end of it while some stated Blum is the last airdrop they’d farm, I don’t blame them though due to past underperforming projects but after coming across its listing announcement. I’m kinda more bullish than bearish about it. Projects are mostly unpredictable but what’s your Blum price prediction ?
Even though I try to be optimistic about it but I lose faith entirely on getting anything tangible from it when I was given only 35 of the Blum token, and they released only ten, so I just saw it as a dust if the Blum token is not up to $2 per token.Well, personally i don’t want to conclude yet given they delayed listing, this might be for better listing who knows, it might surpass our expectations afterall. Some participants stated they didn’t give up on Blum just to get to the end of it while some stated Blum is the last airdrop they’d farm, I don’t blame them though due to past underperforming projects but after coming across its listing announcement. I’m kinda more bullish than bearish about it. Projects are mostly unpredictable but what’s your Blum price prediction ?
All this experience is what makes most airdrop lovers lose faith entirely about telegram airdrop, they are just full of shit, so their is nothing special about this Blum token.
There are basically two types of investors in the market. One is the type you mentioned, investors who want to make more profits in a short time (who we can call gamblers)
Those who invest in various cryptocurrencies in the hope of high profits most of the time lose their capital [since cryptocurrencies are more volatile]
On the other hand, there are some investors who want to invest for a long time without looking at the near future. From here, those who are patient and can withstand the pressure of the market's downward trend are the ones who succeed. They do not express disappointment that they do not have much money saved and do not lag behind in investment. They enrich their portfolio by constantly purchasing Bitcoin through the DAC method as much as possible from their earnings.
In my own understanding, I think that it's either you are a trader or an investor, and anyone that buy and sell for smaller gains are not investors, but a trader, an investor is someone that buys with the intention of holding for like 12 years or more.Those who invest in various cryptocurrencies in the hope of high profits most of the time lose their capital [since cryptocurrencies are more volatile]
On the other hand, there are some investors who want to invest for a long time without looking at the near future. From here, those who are patient and can withstand the pressure of the market's downward trend are the ones who succeed. They do not express disappointment that they do not have much money saved and do not lag behind in investment. They enrich their portfolio by constantly purchasing Bitcoin through the DAC method as much as possible from their earnings.
As for those investors gambling on shit coin, I think that it's either ignorance or greed that will make someone to take such a decision to thread that ugly and destructive path, but a real Bitcoin investor wouldn't want to waste his resources on shit coin because a wasted time and effort is even more worse than money.
The father of my colleagues invested heavily in real estate. Immediately after he retired from his job, he invested his entire retirement benefits in real estate. And he kept expanding the business by building more houses. My co-worker usually tells me that real estate is the best investment because of less risk. It is common for him to say that he or his father will never invest in Bitcoin because it has high risk.
There was a flood in a section of my country that destroyed lives and properties. His father lost about seven blocks of flats which is all he has in life. The houses were not issued, so he is totally broke.
Lessons
- Diversify your assets. Don't invest all you have in a single asset.
- If you are investing in real estate, let your properties be in different locations. My friend's father lost all his property because they were in the same place.
- insure your assets and businesses. Insurance can help reduce the effect of a loss.
So gutted hearing this news, and it's a life lesson we all should learn about. This points exactly to how important diversification of asset is, if he had diversify his investment, by now he wouldn't be in such a sorry state.There was a flood in a section of my country that destroyed lives and properties. His father lost about seven blocks of flats which is all he has in life. The houses were not issued, so he is totally broke.
Lessons
- Diversify your assets. Don't invest all you have in a single asset.
- If you are investing in real estate, let your properties be in different locations. My friend's father lost all his property because they were in the same place.
- insure your assets and businesses. Insurance can help reduce the effect of a loss.
Additionally, as we are investing in Bitcoin, let's not forget to diversify into other stuff like gold and real estate, so that if any of the invest has issue just as the op post stated, you wouldn't lost all your asset.
Earning money is hard, saving money is damn hard, getting rich and being able to live comfortably is insane.
For me saving just for short term, you can't earn anything and your wealth will decrease over time. People have to take big risk if they want to be rich, if they only take some risk or little risk, it's not enough.
The only way I can recommend saving to someone is if he is trying to save up to start a business, and by doing so it shouldn't go above a year, because inflation is one principal enemy to any money saved up, so the best way to keep your money safe from inflation is to store it in anything that appreciate in value overtime, something like gold, land, Bitcoin or real estate.For me saving just for short term, you can't earn anything and your wealth will decrease over time. People have to take big risk if they want to be rich, if they only take some risk or little risk, it's not enough.
If you are a business man it's advisable to store your money in goods, use the money to stack up a lot of goods, as the price of things are going up that's how you will be selling the goods base on the current market price.
You are very right about what you posted, most traders do not have the money but they are trading with the little amount of money that they have and they become impatient and lose all the money continuously, they use high leverage and lose. I totally agree with you.
But for those that have $100000 to trade, they suppose to be making money than $100 daily even if they are patience. But they should not use leverage and they should not trade with the money at once.
On this your last paragraph I think otherwise though, I think that knowledge and self discipline should be prioritized, because if you can lose $10 very quickly what makes you think that you can't lose $100,000 very quickly if you don't know what you are doing, so wether the said fellow use higher leverage or not, it will be just a matter of time before he blows his or her account because knowledge and self discipline is key in the field.But for those that have $100000 to trade, they suppose to be making money than $100 daily even if they are patience. But they should not use leverage and they should not trade with the money at once.
So knowing what you are doing is one vital thing a trader must know before he can stands a chance of making it in the market.
Are you just knowing that an emergency fund is for real-life situation all this while, there is something i want you understand, before you can buy or invest in Bitcoin you must have a discretionary income and this discretionary income is fund if you lose will not affect you much and which Bitcoin is beyond you lose all your money that you investment, since you have a steady cashflow you will always have plans for yourself outside Bitcoin investments, and which the same thing you should do when it comes to Bitcoin investments to avoid touching your holding incase if unforeseen circumstances occur you can make use of the emergency which no one is praying for it to happen but we just needed to plan ahead of us since no one can predict the future.
Steady income => steady investment process => good chances that you are going to be okay if the trouble eventually hits.There's no need for doing any analyzation before buying since this will just confuse them. Instead of thinking about technical things or strategy before buying, they better act according to how much they are capable to spend since this would rather give them much better result especially if they can accumulate lots of volume.
Doing analysis is not helping and it will just create fear for them especially if the one they predicted to happen didn't came. So better for people to not create anything that can disappoint them and better make everything more simpler because buying and HODL bitcoin don't need especial things or skills. What they need is to be consistent on their buying.
Those investors that bought at $69k when most people were laughing at them that they bought at the top two or three years ago would be laughing back at them now because it now looks like a massive bargain, and that is how this current price might be in the future, so their is no point analyzing the market.
⭐ Merited by Mr Reporter (2)
we must be able to understand the reason why we should be a holder and for how long we can hold before selling, then anything that has to do with an emergency fund be dealt with separately without causing alterations to our investment, just try to scroll up on some pages to read more on emergency fund.
But for this we must maintain our investment for a long time as long as possible as a long-term investment. The main purpose of Bitcoin investment is to maintain it for a long time according to the DCA method, if you do not follow the DCA method then you will not be able to maintain your investment.
That is why in any situation only our plan should be given the highest priority, and there are some other things that we need to maintain our investment according to our ability. However, Bitcoin investment should be held for approximately ten years so that we can maintain the amount during the two bull markets.
The main purpose of each person's investment may be different. Many people invest so that when they are no longer able to work in their old age, they can live with some money from their investment, again many people invest to buy a car, etc. I think the main purpose of each person's investment may be different.
By adopting the DCA method, we can make our investment consistent, such as we can buy every week or month. Through the DCA method, we can buy almost all the prices. And if you continue to buy continuously, you will reach your investment target level very quickly. Waiting to buy DIP is never the right method. If you want, you can buy continuously by adopting the DCA method and when the market falls, you can buy DIP.
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We adopt DCA method because it’s more of a favorable method for someone who is a low income investor, it’s quite more appreciated for us to invest and accumulate through DCA method as well, but that would necessarily not be the only method to continue investing and accumulating it we have money and having a higher source of income we can also invest more using lump sum which we can also try and front load our bitcoin portfolio.
The dca accumulating strategy is not only suitable for low income earners, it's suitable for all including the rich because you will have to buy either weekly or monthly based on how much you can afford as a discretionary income at the end of the week or month, so you saying that it's for low income earners makes it looks as if it's mainly for the poor.
It makes sense to use an emergency fund only when you have no money other than your emergency fund and you are still in an emergency situation. We should not resort to emergency funds at the beginning of a crisis, no matter what kind of crisis it is. If you are laid off from your job or if you or your family member is sick, the first thing to do is to reach for cash flow to cover medical expenses. Then, if you have other funds, take help from them. If those are not enough and you are at the peak of the crisis, then maybe that is the right time to use an emergency fund. Identifying the emergency situation is the most important thing to use an emergency fund. Otherwise, you may end up using only the emergency fund, which is not a good idea.
everyone certainly has different opinions in this matter, but in my opinion, using emergency funds is certainly free to do at any time if for example we are pressed for medical expenses and so on, as long as the most important thing is that we don't sell btc because the function of emergency funds is so that we can hold btc for the long term and so that when we invest in btc it remains comfortable. and it would definitely be better if we could add emergency funds every month or whenever.
Additionally, let's not heed to any temptation of using our emergency funds or part of it to invest in Bitcoin because it's a trap that may derail our bitcoin investment if such thing is not avoided.
It is never a good idea to wait to buy DIP. If you wait to buy DIP, you may fall behind your target. For example, if you wait to buy DIP, you will miss out on many opportunities to buy if the market does not go down as you expected. If you want, you can continue to buy continuously by adopting the DCA method, and when you see a decline in the market, you can buy DIP if you are financially sound.
It is never a good idea to invest in the short term. There is a lot of risk in short term investments, in which the possibility of losing your money is very high. Always aim for long term investments, such as 8 to 10 years. The risk in long term investments is much lower than in short term investments. The market often goes up and down. Do not be afraid of seeing a decline and continue to buy continuously until you have accumulated your target level of Bitcoin in your portfolio
The point you have laid out here is really good. waiting for a desire dip is one big mistake many keep repeating, i don't know why someone will choose to waste time to be waiting for some we are not sure of it occurance.waiting for a desire dips is waste of opportunities, is just like some one waiting and hoping to get a good opportunity to work in a high paid company when there are thousands of opportunities in front of him. A perfect example was when bitcoin was around $84k there were people who was speculating that it will dip more to $35k, so they started waiting for it to get to there desire dips but it didn't happen instead the price went up to $100k. so this person missed this opportunity because they were waiting for a desire dip of $35k.It is never a good idea to invest in the short term. There is a lot of risk in short term investments, in which the possibility of losing your money is very high. Always aim for long term investments, such as 8 to 10 years. The risk in long term investments is much lower than in short term investments. The market often goes up and down. Do not be afraid of seeing a decline and continue to buy continuously until you have accumulated your target level of Bitcoin in your portfolio
instead of waiting for a desire dip while missing market opportunities, Dca strategy can be used to be accumulating bitcoin instead of waiting since it involves buying at all prices even when it is low or high .
Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after, the said coin drops in value, or someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?
What's your take on this? Given the period we're in is it buy time or sell time?
So the big hit is buy and buy most necessarily buying as at when there's a price drop and hodl then after sell when the coin is profitable, that's what is required of every trader or investors. But looking at the period we're in it could be either of them buy time or sell time we just need to know when the market is favourable inorder to profitable in the end.
I doubt if you are an investor because you are not speaking like one, as an investor you don't really need to focus at the Dip because it will distract you from your investment and secondly investors doesn't buy and sell because of slight uptrend, investors doesn't consider or see little profit as an option because they focus on long term and that is when the main profit will be seen. Your last statement explain your intention towards Bitcoin ( a trader), because only traders target the market to know when they will be profitable if they buy which is not even correct and certain because it is an assumption.
Additionally, waiting for dip buying is not the best way to go about your Bitcoin accumulation because you are going to miss so many buying opportunity which should have been used to accumulation a good fraction of Bitcoin, so waiting for a dip is not the right way to go about your Bitcoin accumulation.
Understanding this, if someone wants to invest their emergency fund with risk, then I said that they should invest some part of it instead of investing the whole amount.
However, I think it is better to keep the emergency fund in fiat.
This is why reverse funds is set aside, so that a dip buying opportunity can be utilized proper, but thinking to invest part of your emergency funds is a terrible financial mistake that you might pay dearly for if any serious real life emergency situation arise during that period of time you invest some part of it.
Your emergency funds should only be tempered with when a serious real life emergency situation that threatens your Bitcoin holdings, nothing else.
This probably means you're invested with amounts you're not comfortable losing. I would've understood more if you were checking the wallet just to make sure the funds are safe...(and even then, a hardware wallet should've fixed that for you) but the price? not really. Just use CMC or some portfolio app to alert you when the price increases or decreases with a certain percentage, and forget about it.
Fear is not part of the reason am checking it, I think it's more of excitement of watching my asset grow because knowing for a fact that I invest in Bitcoin makes me happy, I think that when am used to it, it will definitely reduce to the bearest minimum like once a week or twice a month, it's just a matter of time.Of course, no one should invest with non-discretionary income since that would be gambling rather than investing, and yeah, discretionary income can be increased by increasing income and/or decreasing expenses.
Yeah it would seem more like gambling if one goes beyond discretionary income but some times I do have this feeling if we are only buying bitcoin with an amount can afford to loss them doesn't that make it a gambling because we are afraid we might losses them? lossing can be in many ways but the most fear in this instance is the fear of lossing it to crash or hacks/attacks. I prefer to invest into bitcoin with an amount that I can afford but not the chunks from my discretionary income, if we keep it being only a little of what we can afford to loss to me it's now a gamble which bitcoin is not.
Going beyond using our discretional income to accumulate bitcoin might gives us difficulties in maintaining and sustaining our bitcoin investment for the long term. As potential investors in Bitcoin,We cannot use cash meant for our personal needs to invest in Bitcoin,it is important we sort out basic needs first from our available funds and whatever is left should be used to buy Bitcoin periodically. Using our discretional income keeps us consistent in accumulating Bitcoin not minding the risks. Sometimes an investor might decide to go aggressive in accumulating Bitcoin but should be doing so within his financial capability and shouldn't go beyond what he can afford to do way because he wants to be aggressive in building his portfolio.
If an individual feels like investing aggressively in Bitcoin, it should only be done from his reserve funds not from the money meant to take care of his basic needs or his emergency funds.