Most people will naturally favor the team that's statistically favored, but one thing we must remember is that this isn't a guarantee of victory. This means betting based on hype, according to the public's bets, can be wrong. The reason is that I often see favored teams lose to weaker teams, even when they're playing at home.
The ball is round, and anything can happen on the field, and it doesn't always depend on statistics. Sometimes small mistakes on the field can have major consequences, such as defeat. Therefore, when I bet, I don't let the public's decisions influence me.
Actually I want to agree with you and at the same time I want to say that the majority public bets on the side of the team that they think is stronger in terms of strength and that is why the opposing team basically gets high odds. And in most cases it is seen that in such games the stronger team wins and the majority public wins the bet.
However, there are some exceptional matches where the underdog team wins, in which case it can be seen that maturity can also be achieved by betting against the people, but this is very relative, so I would say that I always consider it better to bet based on my own analysis.
Obviously, the statistically stronger team certainly has a greater chance of winning. Above, I only spoke from a rational perspective, and using statistics as a reference for decision-making isn't always entirely accurate. This means that luck also plays a role. When a stronger team loses to a weaker team due to a small, inadvertent mistake on the field, it means they and those betting on them are unlucky.
But ultimately, the most important thing, in my opinion, is to bet responsibly, regardless of whether you follow the hype or analyze it yourself.
Most people will naturally favor the team that's statistically favored, but one thing we must remember is that this isn't a guarantee of victory. This means betting based on hype, according to the public's bets, can be wrong. The reason is that I often see favored teams lose to weaker teams, even when they're playing at home.
The ball is round, and anything can happen on the field, and it doesn't always depend on statistics. Sometimes small mistakes on the field can have major consequences, such as defeat. Therefore, when I bet, I don't let the public's decisions influence me.
Actually I want to agree with you and at the same time I want to say that the majority public bets on the side of the team that they think is stronger in terms of strength .
It's just a normal thing if you ask me because you don't leave out on teams that have an higher potential of winning to bet on the ones that have a lower potential of winning. What people work with is statistics and for the most part, it's the team that has the highest chance of likely winning that gets people attention the most. That's why people gamble more on teams that see stronger
There may be a simple reason for this too and that is our human instinct, meaning that since we are human we can lose our emotional control at any time even if we try to control it and in all those cases when people gamble they sometimes make irresponsible decisions and that is when they basically face big losses.
But if you are doing this, we should all remember this because if we make a wrong decision once or twice and face loss, it may be possible to recover from it, but if this happens to us constantly, we will become addicted to it and as a result, we will fall behind in all stages of life, starting from financial crisis.
I've always said it ad nauseum, the problem of dealing with loss, in my opinion, comes from the fact that you've bet or gambled too much money. The fundamental problem is not the loss, the problem is why did you gamble money that you couldn't gamble? That is the question we must try to answer, because it is called gambling, not gambling.
I would not presume that building up emergency funds that are three months of your expenses is easy. It could take a year or two.
I also do not recommend building up an emergency fund prior to getting started investing into bitcoin.
There surely has to be some back up funds that are present when investing into bitcoin, and guys have to figure out how much they are going to need while engaging in such build up, and if they screw up they are going to be the one to pay in the event that they failed/refused to build up and keep sufficient back up funds.
I also hypothesized that a lot of people already are in the practice of keeping some level of back up funds, even before they get to bitcoin, so they might already be starting with 2-6 weeks of back up funds yet when they get started with bitcoin, they likely need to start thinking abut their back up funds in a context of protecting their bitcoin, while at the same time building up the bitcoin, and we can even suggest that back up funds would not need to be as large in the first place until the bitcoin investment grows and grows and grows (presumptively growing from both adding to it and from price appreciations, even though price appreciation is not guaranteed to happen), so then the more and more that bitcoin is growing, the more that there will be a need to protect it from accidentally or purposefully getting tapped into, so back up funds should help with that.. and yeah sometimes cashflow situations can become extreme where the income does not cover all of the expenses, and so in those situations having some cash on hand can end up being quite empowering in terms of giving options and options that include not beign forced to tap into the bitcoin investment at a time that is not completely at your own choosing..
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses. I don't know if this strategy will work for others, but if I follow this approach based on my income, I won't have to face any extra hassle.
Because I have seen many people, and it happened to me in the beginning, who, seeing the potential of Bitcoin, forgot about its volatility and invested most of their income in it. Later, when the market crashes or the price drops and they need their own money, they have to sell the invested holding Bitcoin at a loss and provide a backup to the situation.
So I think if someone invests strategically based on their income with long-term DCA plan, they will be able to successfully execute their investment.
With the mindset you have,I doubt if you will make it to Over-accumulation in Bitcoin because you're busy sorting out Discretional incomes to invest in Gold when you haven't accumulated Bitcoin substantially or come close to Over-accumulation. Diversification to other assets like Gold,Stock & Bond or Real estate isn't bad but since you haven't come close Over-accumulation,i think your Discretional income when available should be used to buy Bitcoin consistently for the next 4-10 years until you have attain Over-accumulation before Diversifying.
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses.
Your comment is very meaningless and through this comment of yours a new person can create a wrong idea in him. Because a person first needs to meet his personal needs or family expenses. If a person divides his income like this then it will never be the right method. We need discretionary income to invest. If a person spends almost the entire amount of his income to meet his family expenses or personal expenses and at the end if he has $10 discretionary income then he can invest. First a person should focus on his family expenses or personal expenses.
A person should not divide his income like this. A person should divide his discretionary income. Where to invest is completely his personal matter but we think a person should never invest in any other type of currency except Bitcoin. All these currencies are very risky and the risk of losing money is very high
But I don't see anything wrong with the way @MINERI said someone can divide their money. The 30% that he dedicated to bitcoin investment can be considered as the discretionary income. He made provision for holding in stablecoins which I believe is almost the same thing as someone having reserve funds or emergency funds in fiat but this one is digital dollar, which can be used to settle problems that may arise. He also allocated percentage for family needs. He didn't advocate for altcoins investment, so I don't see any reason why you should talk down on what he said.
Gost's comment may be a bit confusing, but I think that what @|MINER| said may not be the right approach to me. Because first we have to find out our expenses. If after spending we get some discretionary income then maybe we can invest with that. |MINER| He mentioned investing with his income which will never be the right approach in terms of investment. Many, many more money is spent than the amount of expenses that can be estimated in a month or week. If we invest in advance then if we need more money in a week or month then maybe we will have to break the investment or if we have an emergency fund then we will have to take money from the emergency fund. This will never be the right approach
What will be best for a person is that first of all a person should have the importance of proper financial management. From his income, he should find discretionary income through proper financial management and invest with that discretionary income. This will be the best investment method for an investor and will be very low risk.
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses.
Your comment is very meaningless and through this comment of yours a new person can create a wrong idea in him. Because a person first needs to meet his personal needs or family expenses. If a person divides his income like this then it will never be the right method. We need discretionary income to invest. If a person spends almost the entire amount of his income to meet his family expenses or personal expenses and at the end if he has $10 discretionary income then he can invest. First a person should focus on his family expenses or personal expenses.
A person should not divide his income like this. A person should divide his discretionary income. Where to invest is completely his personal matter but we think a person should never invest in any other type of currency except Bitcoin. All these currencies are very risky and the risk of losing money is very high
But I don't see anything wrong with the way @MINERI said someone can divide their money. The 30% that he dedicated to bitcoin investment can be considered as the discretionary income. He made provision for holding in stablecoins which I believe is almost the same thing as someone having reserve funds or emergency funds in fiat but this one is digital dollar, which can be used to settle problems that may arise. He also allocated percentage for family needs. He didn't advocate for altcoins investment, so I don't see any reason why you should talk down on what he said.
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses.
Such diversification might be okay, but for me personally, I think it's gonna be a serious distraction from the main goal which is to stack Bitcoin if you have a long term Bitcoin investment goal. This is because if you share your income income in such away as you have mentioned, it will limit the investors plan and deposition to Bitcoin as originally planned. I would like to say that folks who do such sharing might not concentrate entirely I'm bitcoin accumulation and which is not a good way of investing in Bitcoin.
Therefore, I would prefer that an investor concentrates on consistent bitcoin accumulation and Hodl with a long time plan, while also seriously building up his emergency funds and other back up funds that is very necessary to sustain his Bitcoin assets for long time, so that such investor can also liverage on other forms or strategy of accumulating Bitcoin like buying the Dip or lump sum. But a man who has shared his income to different investment scheme would not concentrate as he will be trying to meet up with other ones and would not pay much attention to build up his bitcoin portfolio and also his emergency funds and/or Bach up funds.
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses.
Your comment is very meaningless and through this comment of yours a new person can create a wrong idea in him. Because a person first needs to meet his personal needs or family expenses. If a person divides his income like this then it will never be the right method. We need discretionary income to invest. If a person spends almost the entire amount of his income to meet his family expenses or personal expenses and at the end if he has $10 discretionary income then he can invest. First a person should focus on his family expenses or personal expenses.
A person should not divide his income like this. A person should divide his discretionary income. Where to invest is completely his personal matter but we think a person should never invest in any other type of currency except Bitcoin. All these currencies are very risky and the risk of losing money is very high
I would not presume that building up emergency funds that are three months of your expenses is easy. It could take a year or two.
I also do not recommend building up an emergency fund prior to getting started investing into bitcoin.
There surely has to be some back up funds that are present when investing into bitcoin, and guys have to figure out how much they are going to need while engaging in such build up, and if they screw up they are going to be the one to pay in the event that they failed/refused to build up and keep sufficient back up funds.
I also hypothesized that a lot of people already are in the practice of keeping some level of back up funds, even before they get to bitcoin, so they might already be starting with 2-6 weeks of back up funds yet when they get started with bitcoin, they likely need to start thinking abut their back up funds in a context of protecting their bitcoin, while at the same time building up the bitcoin, and we can even suggest that back up funds would not need to be as large in the first place until the bitcoin investment grows and grows and grows (presumptively growing from both adding to it and from price appreciations, even though price appreciation is not guaranteed to happen), so then the more and more that bitcoin is growing, the more that there will be a need to protect it from accidentally or purposefully getting tapped into, so back up funds should help with that.. and yeah sometimes cashflow situations can become extreme where the income does not cover all of the expenses, and so in those situations having some cash on hand can end up being quite empowering in terms of giving options and options that include not beign forced to tap into the bitcoin investment at a time that is not completely at your own choosing..
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses. I don't know if this strategy will work for others, but if I follow this approach based on my income, I won't have to face any extra hassle.
Because I have seen many people, and it happened to me in the beginning, who, seeing the potential of Bitcoin, forgot about its volatility and invested most of their income in it. Later, when the market crashes or the price drops and they need their own money, they have to sell the invested holding Bitcoin at a loss and provide a backup to the situation.
So I think if someone invests strategically based on their income with long-term DCA plan, they will be able to successfully execute their investment.
You seem to be getting a bit astray from either the topic of the thread and/or the ideas within the post that you were responding to.
Perhaps in order to attempt to make a connection, then you are talking about various ways that you would divide up your discretionary income, since we are not even able to invest into anything, unless we are talking about discretionary income, so frequently guys are either going to struggle to have any income left over after they deal with all of their expenses.
So then, in the above cited post, when we I was referring to the building up of an emergency fund, I was considering that as a means to protect investment in bitcoin, so once we establish our discretionary income, then we are able to choose whether to invest, consume or save (establish emergency/back up funds) from those discretionary funds.
By the way, to the extent to which you are referring to dividing discretionary income versus dividing overall income, then our choices regarding how to divide our discretionary funds or how much to allocate towards one area versus another (invest, consume and'/or save) would likely be difficult to put into a formula, even though surely we might have overall goals in regards to what we might be trying to achieve.. like for example how fast or aggressively we might want to build up our bitcoin holdings.
Yet, even getting to a calculation of basic expenses versus discretionary expenses, there could be some differences in opinion regarding which kinds of areas are feasible to cut, so then if we are able to increase our discretionary income by either increasing our income or decreasing our expenses, then we have more money in our discretionary income (funds) to work with in regards to building our bitcoin investment.
Regarding your reference to gold.. fuck gold. That sounds like a distraction. Sure guys might have other investments besides bitcoin, yet in this thread we are hopefully talking about how we work out how we might deal with bitcoin first, and then perhaps once we get those bitcoin-related matters worked out, then perhaps as a lower level interest we might consider the extent to which we might either add additional kinds of investments or maybe how to deal with other investments that we might already have.
Surely some guys come to bitcoin as brand new investors who do not have investments in anything else besides cash, so these newbie investors can start out with strictly bitcoin and cash and work their way up to a point that they might consider allocating in other assets might be a good idea for their situations.
We have other guys who come to bitcoin and they already have investments to deal with, so they will be faced with a dilemma regarding the extent to which they are reallocating some or all of their other investments into bitcoin or alternatively if they might build their bitcoin investment without tapping into their other investments.. and even further if they are keeping their other investments, then the extent to which they keep adding value to the other investments or if they might spend some time specifically building the bitcoin portion of their investment portfolio.
I doubt that we are going to have any one ideal formula that we could apply to the various situations unless we might be able to identify the goals first and how far along a person might be in their bitcoin accumulation journey.
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Additionally, before diversifying into something else, it's wise you are at your over accumulation status or close to it first, before thinking of diversification, not by spreading your money into something else even when it's obvious that even your investment in Bitcoin has not gotten to anything tangible.
Your overall sentiment about holding off on diversification is correct, so in that regard, it is likely way better to stay focused on figuring out how to build your bitcoin holdings to a decent level before fucking around with diversificaiton that might not be necessary, and it merely distracts us from our bitcoin investment in terms of time, energy and value being diverted into likely inferior investment products.
At the same time, there is a lot of discretion in regards to when diversification might be warranted as a means to protect capital and/or even to hedge our bitcoin investment. We do not necessarily need to reach or even be close to overaccumulation status before we might justifiably consider to include some reasonable diversification into our bitcoin-prioritizing investment approach.
I personally always prefer to balance bitcoin investments with as other investments or assets as you can hold, actually we can divide our income in some parts.
For example, if we divide our income into three parts, and 30% is for investing in Bitcoin and 30% is for stable currency holding (or investing on gold) and as well as others 40% could be used for the expenses.
What you are saying here makes no sense to me because before thinking of investing into Bitcoin or any other thing, you must first of all take care of yourself and your basic needs, and your discretionary income left is what you should be investing with, not by dividing your income into three part, without taking care of your basic needs first.
Additionally, before diversifying into something else, it's wise you are at your over accumulation status or close to it first, before thinking of diversification, not by spreading your money into something else even when it's obvious that even your investment in Bitcoin has not gotten to anything tangible.
it happened to me in the beginning, who, seeing the potential of Bitcoin, forgot about its volatility and invested most of their income in it. Later, when the market crashes or the price drops and they need their own money, they have to sell the invested holding Bitcoin at a loss
No matter how volatile the price movement of Bitcoin is, you wouldn't be that bothered if you are investing with your discretionary income and you are only thinking long term, it is only those that are trading it for short term gains that the volatility punished so badly not investors holding for a long time.