Wednesday 2 December 2015

Buying one Bitcoin a paycheck, no matter what.


We are at a level of stability where it finally makes sense to apply traditional financial sense to Bitcoin.If you are a student of sound financial practices, there is golden advice to always pay yourself first..For most of us who have full time jobs in the first world, it would be difficult to part with $200 to $400 twice a month, but not impossible. If this amount simply can't be done on your budget, then settle for a lesser amount - but push yourself. Too often we fill our lives with useless luxuries and frivolous purchases we don't really need.The important part is to buy the Bitcoin immediately after you get your check. Put it away, and pretend it no longer exists - just like traditional savings.Don't gamble with margin, don't try to strategically sell out and time the market, and don't go all-in on random alt coins. Take 20% of your crypto holdings and diversify into other reputable projects if you must but the focus here is on sound financial practices.So you buy, and you hold. It's like a savings account, but it might also make you very wealthy one day.If you had done this since December of last year, you would already have 100 bitcoins and would be up nearly 50% added value on your savings. Who knows if these particular prices will last another year, so the time to start this savings plan is now.Good luck everyone - I've been in crypto for a year and it's been an amazing ride... Even though the price hasn't moved. Saving money has been fun for the first time in my life, and I look forward to clicking that 'buy' button with every spare dollar I get. I know that the uncertainty of Bitcoin might be a little scary, but buy buying a little bit each check you are defaulting to the average price for a year - preventing you from having the frustrating experience of buying a lot at once and watching your savings drop in value. via /r/Bitcoin http://bit.ly/1XGBqzl

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