Buy the DIP, and HODL!

[bestcandy]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

When it comes to investing in Bitcoin, a general rule is that one should build an emergency fund first, but if one wants to, one can start investing without building one at the beginning. However, after investing for a month or a few months, one should build an emergency fund so that they can be protected against any unforeseen circumstances in the future, because unforeseen circumstances can come in a person's life at any moment, and if the investor is not prepared to deal with those unforeseen circumstances at that time, then his holdings can be damaged, and we all know that if the Bitcoin holdings have to be sold suddenly, then the investor can suffer losses at that time. Because at that time the price of Bitcoin may be in a dumping situation, because Bitcoin is a volatile currency.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

You guys are perfectly correct. Successful investment in Bitcoin requires patience to hold it for long term because profitability of Bitcoin is directly proportional to the magnitude of your asset and the time you hold the Bitcoin asset which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance. However, DCA method can be more helpful for a planned long time investment than lump sum because it enable one to invest a specific amount of money set aside for the investment in a targeted security and at regular intervals over a certain period of time, regardless of price, it also help investors to have low average cost per share and alsoenhance the reduction of the impact of volatility on the their portfolios.

[Sim_card]

which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance.

You don't need an emergency funds to take care of your basic needs, because emergency funds is to take care of any unforeseen circumstances that plays out during your bitcoin investment

Don't misunderstand the purpose of setting up an emergency funds. Your basic needs should be taken care of from your income before you can use the leftover which is your discretionary to invest in bitcoin and build up your emergency funds. Your emergency funds should only be tampered with when there's an emergency that must be taken care of so that the does not worsen the situation on ground. Like losing your job, the roof of your house was pulled of by storm and severe accident cases.

You don't need to have an alternative source of bitcoin before you can hodli your investment for long as long as you are using the right amount of money from your discretionary income to invest in bitcoin, you will be fine. Having an alternative source of income is to boost your financial strength so that you can be progressive in life and also use the chance to increase your weekly DCA amount in order for you to reach your bitcoin target faster.

[CageMabok]

Yep. A person buying in lumps or DCAing can hold for long, they two are capable of the same actions and the results would differ, however - they would probably still be positive.
It's about understanding Bitcoin and the actions that spring from it.

Although it can be different in terms of the results of the profits from the two somewhat different actions, I think for people who buy DCA they will also feel greater benefits even though they have to wait for more time due to the slow purchase. While for people who are able to buy all at once in large quantities, of course these people must be categorized differently because they have the money to run it immediately and can even make a very good effect on the market to increase the price of Bitcoin.

But in general, both types of actions can still be considered good if we compare them with people who are hesitant to buy but like to comment on Bitcoin. Because I still see people who like to comment on Bitcoin in my environment but these people have not bought Bitcoin at all and still often judge other people's actions as wrong, even though other people buy immediately without giving more comments that are not useful for themselves.

[Mayor of ogba]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

When it comes to investing in Bitcoin, a general rule is that one should build an emergency fund first, but if one wants to, one can start investing without building one at the beginning. However, after investing for a month or a few months, one should build an emergency fund so that they can be protected against any unforeseen circumstances in the future, because unforeseen circumstances can come in a person's life at any moment, and if the investor is not prepared to deal with those unforeseen circumstances at that time, then his holdings can be damaged, and we all know that if the Bitcoin holdings have to be sold suddenly, then the investor can suffer losses at that time. Because at that time the price of Bitcoin may be in a dumping situation, because Bitcoin is a volatile currency.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

You guys are perfectly correct. Successful investment in Bitcoin requires patience to hold it for long term because profitability of Bitcoin is directly proportional to the magnitude of your asset and the time you hold the Bitcoin asset which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance. However, DCA method can be more helpful for a planned long time investment than lump sum because it enable one to invest a specific amount of money set aside for the investment in a targeted security and at regular intervals over a certain period of time, regardless of price, it also help investors to have low average cost per share and alsoenhance the reduction of the impact of volatility on the their portfolios.

I know you are still learning about bitcoin, but I want you to understand that an emergency fund is not meant to solve your basic needs. An emergency fund is basically meant to solve your unexpected problems anytime they arise. For instance, if you are accumulating bitcoin and suddenly your car broke down on your way to your workplace, since the problem is not planned for and is an unexpected problem, you will depend on your emergency fund you set aside to get your car sorted out so that it will enable you to be more productive.

[Zackz5000]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

When it comes to investing in Bitcoin, a general rule is that one should build an emergency fund first, but if one wants to, one can start investing without building one at the beginning. However, after investing for a month or a few months, one should build an emergency fund so that they can be protected against any unforeseen circumstances in the future, because unforeseen circumstances can come in a person's life at any moment, and if the investor is not prepared to deal with those unforeseen circumstances at that time, then his holdings can be damaged, and we all know that if the Bitcoin holdings have to be sold suddenly, then the investor can suffer losses at that time. Because at that time the price of Bitcoin may be in a dumping situation, because Bitcoin is a volatile currency.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

You guys are perfectly correct. Successful investment in Bitcoin requires patience to hold it for long term because profitability of Bitcoin is directly proportional to the magnitude of your asset and the time you hold the Bitcoin asset which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance. However, DCA method can be more helpful for a planned long time investment than lump sum because it enable one to invest a specific amount of money set aside for the investment in a targeted security and at regular intervals over a certain period of time, regardless of price, it also help investors to have low average cost per share and alsoenhance the reduction of the impact of volatility on the their portfolios.

What you really need at first is your discretionary income then emergency fund can come later because it is through your discretionary income you can accumulating Bitcoin with and at first your focus shouldn't be on the profit yet unless you are just trading which is not even advisable to think about rather your focus should be how much bitcoin you will be able to accumulate in a long run. Both the lump sum strategy of accumulating Bitcoin and the DCA strategy are all good you can also lump sum when probably an unexpected money comes to you or maybe you won a huge amount on lottery but the reason why the DCA strategy is more adopted is because it gives you the opportunity of accumulating Bitcoin gradually either weekly or monthly regardless of the bitcoin price and keep hodling for long probably a year range of 4-10 years and more.

[Samlucky O]

There is no way a poor bitcoin investor will accumulate more bitcoin more than the rich bitcoin investor the rich folk might decide to invest aggressively in such a way that it won't even affect his personal living or needs, he might also even choose to be using the lump sum strategy to accumulate at times and still continuously using the DCA strategy unless in a case where by the rich guy is just trading and not investing and the poor guy is continually using the DCA strategy and hold for long probably 10 years and more then I will agree with you if not such case I believe am still right about my word you bolded.

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Bro their is no point arguing over this here, looking at it logically, if a rich guy is as consistent in his accumulation as the poor, their is no way the poor is going to accumulate more stash of Bitcoin than the rich because their purchasing power is not on the  same level, and do not forget that the rich even have the financial leverage to even buy aggressively during a dip more than the poor, so tell me how the poor is going to accumulate more Bitcoin than a rich guy that is consistent and focus when accumulating, if you are talking about a rich guy that isn't consistent and isn't serious about it then it's understandable, but not when the rich guy is also as serious as the poor guy.

For you both Zacks5000 and Bariku1, i don't know the best way to describe my explanation about the rich and the poor guy investment into Bitcoin, but I think I have seen a video that suits my explanation. This is a race of <<Tortise vs rabbit>>, both are set for a race, the rabbit has a strong chance of wining the race but due to it being whimpy the Tortise won the race.
You can watch the video in this link for clear understanding

No oo, we all know that this are animals, and they don't have the knowledge that humans possess, and another thing you also need to understand is that they don't have the knowledge to know what's at stake in that race, so it's not ideal to judge a rich and poor Bitcoin investor accumulation capabilities with this video, because if you even look at it closely, the rabbit is very clueless on what is required of him and the tortoise was just moving straight forward believing that it's the only way out of that place, so it's a wrong video to use in describing the accumulation process of a rich Bitcoin investor and a poor Bitcoin investor.
The only way a poor Bitcoin investor can accumulate more Bitcoin than a rich Bitcoin investor is if the rich guy fail to be consistent in his accumulation, aside that, their is no way a poor Bitcoin investor can accumulate more than the rich guy because their purchasing power is not the same.
And lastly, the rich guy have the financial leverage to buy aggressively, more than the poor guy during a dip, unless he is not serious, but if the rich guy is absolutely serious, their is no way the poor guy can accumulate more than him.

I don't see the need why you guys are arguing over nothing pahaps this statement has been addressed by JJG in the comments above but  for the benefits of doubt I will still trow more light to it, surely even though this image provided by Pi-network314159 lacks more clearity in term of his way of describing the rich and the poor investment strategy or even as it is a fable video, but I see some sense to his narration. You made you point clear in the paragraph I bolded @Bariku1 which talks about "consistency"  and of which I think the moral of that video is all about consistency. If you look closely in that video, you will notice that the Tortise was consistent more than the rabbit, even though the rabbit was more opportuned than the Tortise, although the fast move made by the rabbit at first instance look like it made a large investment and later slow down. If it was consistent as it was when it started the race he may have won. So surely sometimes you don't interpret things the way you see them, you should be able to understand things beyond and or think differently and perhaps you will surely understand the message it passes I.e "Fable" but the message is important because consistency in  this case does not only apply to human but also to animal.

[Gallar]

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I disagree with you here. You are getting it all wrong. The strategy an investor chooses to implement in their investment does not guarantee that they will be a long-term holder or not. This means that whether they use DCA lr Lump sum the choice is theirs to make if they want to hold their investment for long term or short term. The essence of this strategy is to help people buy/accumulate Bitcoin.

~Snip

Yes, DCA or lump sum is just a purchasing technique, so that we can adjust our financial situation when we want to invest in bitcoin. So this has nothing to do with how long someone invests in bitcoin. Because if we talk about the duration of someone's investment in bitcoin, this will definitely be determined before starting to invest or before buying bitcoin. Because bitcoin investors in general, before starting to invest, they have thought about how many years they will invest their money in bitcoin. Then after that they start looking for a purchasing method that is suitable and suits their tastes, such as DCA or Lump sum. Because basically there are also bitcoin investors who use the DCA technique but they are short-term investors and there are also those who use the lump sum technique but they are long-term investors. However, if we look at current trends, the DCA technique is widely used by investors in bitcoin to invest in the long term. Because this method gives us lots of opportunities to be able to invest in Bitcoin to be more organized, even though our finances are not very large. So that's why DCA is widely used by many long-term investors in bitcoin. And because of that, I can conclude that what makes someone a long-term investor in bitcoin is not due to their purchasing technique, but rather because of the intentions they have planted before starting to invest.

[Sticky Bomb]

Some new investors may be encouraged to invest in other cryptocurrencies without increasing their Bitcoin investment because they do not have enough money. But if they plan to do DCA, they can only hold Bitcoin regularly. Applying this strategy, an opportunity will be created for long-term holding, which can make the investor profitable.

Diversification when your Bitcoin investment is fueled with quack aggressiveness is a very big mistake newbies are lured to make. Before you can even think of gambling some part of your discretionary income on altcoins or shitcoins, you should make sure your aggressiveness in Bitcoin accumulation is something you're proud of and you've accumulated a decent amount of BTC.

I don't support a newbie to even distract himself by meddling into any other things but Bitcoin. Until you have accumulated a descent stash of BTC, entertaining that gamble might pose a threat to your investment. A newbie, especially those who are entirely new to investing have a lot to learn in Bitcoin accumulation like setting some part of their discretionary income as emergency funds and other variances of backup funds and striving to reach the maturity of being consistent and committed with your Bitcoin purchases and may lead to improper management of your cashflow.

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

Your accumulation strategy does not determine the longevity of your investment, instead it's your discipline, determination and dedication that sustains your portfolio. The goal is to accumulate more stashes of Bitcoin, so your accumulation strategy does not matter as long as you're continually buying Bitcoin with your discretionary income and accumulation target in mind without tampering with your portfolio.

Although I'll not advise a newbie to wait for the dip, a newbie should start accumulating Bitcoin straight up by lump summing or DCA as his financial strength permits and plan to continue increasing their portfolio. Or better if more funds are available, the newbie can choose to lump sum and follow up with DCA to further increase his portfolio.

[Marvelockg]

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

I disagree with you here. You are getting it all wrong. The strategy an investor chooses to implement in their investment does not guarantee that they will be a long-term holder or not. This means that whether they use DCA lr Lump sum the choice is theirs to make if they want to hold their investment for long term or short term. The essence of this strategy is to help people buy/accumulate Bitcoin.

You are very much right about this here, it doesn't really matter how you accumulate, which strategy is being utilized, the vital thing is to hold for a very long time,  and it's not true that because you buy and accumulate Bitcoin through the lumps sum strategy means that you can't be thinking long term, investing and holding for a very long time depends on the individual involved, as long as the will is there, what's stopping that person from buying and thinking long term?
So the DCA accumulating strategy or lump sum strategy doesn't determine wether the person is going long term or not.

Then as of the aspect of an investor being afraid to invest, in my own opinion, it all depends on what was shared to him or her, and most times it's because of misinformation about Bitcoin that makes most investors to be afraid of making the move in the first place.

Yes totally agreed with the word misinformation of investor concerning buying of Bitcoin which leads to phobia or fear, but there is one major path which I discovered in most people or investor concerning decision taking, in terminology I call it "indicision spirit " it always acted as setback to many investor who possessed this spirit as they can't come to conclusions at the appreciate time to carryout their investment no matter how informed they are about the investment once this spirit hit them they begin to puzzle if they will or not venture into it. One of the consequences of this indicision leads to failure in holding for Long term even when the investor happened to invest.

being indecisive leads to procrastination which is serious threat to anyone that hopes on investing and getting good returns from his investment because an indecisive person will always look for excuses on why he could not buy yesterday, and the reason why today is not also a good opportunity to buy. for him, the best time to buy is always tomorrow and when the tomorrow finally comes, he looks for another Tomorow and keeps doing it while never investing at all.

information is readily available for every investor to grab across the net which will help one invest the right way and do so using the strategy that works well for him. a larger percentage of the people that are not investing most especially the ones that knows about bitcoin but due to one or two reasons are just being skeptical about investing are not doing so because they are not informed or that they are misinformed, it is mainly as a result of procrastination and the fact that some are waiting for the market to come really down to a certain range before they will eventually buy and because they market keeps going up, it now seems to them that investing at this time is too late.

excuses, ignorant, procrastination and refusal to facts that have been used and proven to be accurate by experienced investor doesn't translate into any positive returns. if by the end of the year bitcoin will get to $200k, whatever view any prospective investor holds doesn't even affect the market since they don't have what it takes to influence the market, the big players and policy makers whose decision has effect on the market aren't even being indecisive and have remained bullish in their bitcoin investment, how much more someone that is just at the periphery on his bitcoin accumulation phase?

[rachael9385]

which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance.

You don't need an emergency funds to take care of your basic needs, because emergency funds is to take care of any unforeseen circumstances that plays out during your bitcoin investment

Don't misunderstand the purpose of setting up an emergency funds. Your basic needs should be taken care of from your income before you can use the leftover which is your discretionary to invest in bitcoin and build up your emergency funds. Your emergency funds should only be tampered with when there's an emergency that must be taken care of so that the does not worsen the situation on ground. Like losing your job, the roof of your house was pulled of by storm and severe accident cases.

You don't need to have an alternative source of bitcoin before you can hodli your investment for long as long as you are using the right amount of money from your discretionary income to invest in bitcoin, you will be fine. Having an alternative source of income is to boost your financial strength so that you can be progressive in life and also use the chance to increase your weekly DCA amount in order for you to reach your bitcoin target faster.

You are right, and you have made @bestcandy understand the purpose of emergency funds. But I add some additional hints to the points you have already made. 
First, not everything is an emergency issue (like buying a house or buying a car and other necessary things we need daily are not emergency issues). Emergency cases are unexpected things that happen when you do not expect them. 
I think emergency cases are things that may happen, and if we do not look into them and solve them immediately, we might be at a big loss or high risk. And I believe we know some of the emergency cases, i.e., medical issues, job loss, and natural disasters (which we do not wish for).
Emergency funds should not be used for basic needs (just like you have highlighted already). Basic needs are what an investor needs to take care of before purchasing his regular amount in Bitcoin (through the DCA method).
Before going into an investment, you need to make sure you have your basic needs and other expenses covered, but you only need to take from your emergency funds when there is a crisis, medical attention, or disaster. Do not forget to use spare (leftover) money to invest in Bitcoin. 

[EclipseXcrypto]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

It is true that bitcoin is highly volatile, but it is quite simple and easy to start investing in bitcoin, and even though you don't carry out proper research about bitcoin, you can easily start up a bitcoin investment once you have a basic knowledge about bitcoin. The most important thing you need if you want to invest in bitcoin is a steady source of income and discretionary income, which will always allow you to freely invest in bitcoin and still solve your daily expenses with ease so that you will not depend on your bitcoin investment to survive, which will give the advantage to hold your bitcoin for a very long time.

Bitcoin is often seen as one of the simplest assets to invest on, especially when compared to traditional assets like gold, real estate, and stocks and bonds etc. Its accessibility and the ability to start with small amounts make it appealing for many investors. Additionally the digital nature of bitcoin allows for quick transactions and easy management which is a big advantage. But having a steady source of income and discretionary income is vital for investing in bitcoin, it allows you to invest without the pressure of needing immediate returns which can be especially important given bitcoin volatility. This way you can hold your investment for the long term without worrying about daily expenses.  Another thing is believing in bitcoin growth potential really does play a significant role in how consistently you accumulate it. When you commit to investing regularly, you're more likely to benefit from long-term gains. That commitment can make all the difference in your investment journey.

[Olatundespo]

Some new investors may be encouraged to invest in other cryptocurrencies without increasing their Bitcoin investment because they do not have enough money. But if they plan to do DCA, they can only hold Bitcoin regularly. Applying this strategy, an opportunity will be created for long-term holding, which can make the investor profitable.

Diversification when your Bitcoin investment is fueled with quack aggressiveness is a very big mistake newbies are lured to make. Before you can even think of gambling some part of your discretionary income on altcoins or shitcoins, you should make sure your aggressiveness in Bitcoin accumulation is something you're proud of and you've accumulated a decent amount of BTC.

I don't support a newbie to even distract himself by meddling into any other things but Bitcoin. Until you have accumulated a descent stash of BTC, entertaining that gamble might pose a threat to your investment. A newbie, especially those who are entirely new to investing have a lot to learn in Bitcoin accumulation like setting some part of their discretionary income as emergency funds and other variances of backup funds and striving to reach the maturity of being consistent and committed with your Bitcoin purchases and may lead to improper management of your cashflow.

For those who are interested in lump sum investments, it can be difficult to hold Bitcoin for the long term. They may sell Bitcoin for a small profit, but those who plan for the long term by doing DCA can be a strong holder. Stress free investing can certainly give the investor many advantages in holding it for the long term.

Your accumulation strategy does not determine the longevity of your investment, instead it's your discipline, determination and dedication that sustains your portfolio. The goal is to accumulate more stashes of Bitcoin, so your accumulation strategy does not matter as long as you're continually buying Bitcoin with your discretionary income and accumulation target in mind without tampering with your portfolio.

Although I'll not advise a newbie to wait for the dip, a newbie should start accumulating Bitcoin straight up and plan to continue increasing their portfolio with by lump summing or DCA. Or better if more funds are available, the newbie can choose to lump sum and follow up with DCA to further increase his portfolio.

By determining the strategy of accumulation Bitcoin you can holding Bitcoin in the long term and there should be no doubt about it. For example, if you are a new investor you will have investment fear since Bitcoin is a volatile and valuable asset. You should not have the idea that the value of Bitcoin will only increase. To start Bitcoin, you should refrain from adopting the traditional strategy and plan a continuous deposit in the DCA strategy. The traditional decision is to be flexible in accumulating Bitcoin within yourself which does not give you the importance of accumulation regularly. To accumulate Bitcoin, you have to have a well-defined and important job. This is an important job because if you work for a long time in an organization at the end of the employment period, it provides you with retirement benefits so that you can be financially independent.

Accumulating Bitcoin in the continuous DCA strategy from discretionary income you will get a decent holding and financial freedom in the long term. In conclusion if you can accumulate Bitcoin with a suitable investment strategy like DCA, it may be the best strategy for you. Ultimately it is clear that your accumulation strategy determines the long-term viability of the investment.

[bestcandy]

which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance.

You don't need an emergency funds to take care of your basic needs, because emergency funds is to take care of any unforeseen circumstances that plays out during your bitcoin investment

Don't misunderstand the purpose of setting up an emergency funds. Your basic needs should be taken care of from your income before you can use the leftover which is your discretionary to invest in bitcoin and build up your emergency funds. Your emergency funds should only be tampered with when there's an emergency that must be taken care of so that the does not worsen the situation on ground. Like losing your job, the roof of your house was pulled of by storm and severe accident cases.

You don't need to have an alternative source of bitcoin before you can hodli your investment for long as long as you are using the right amount of money from your discretionary income to invest in bitcoin, you will be fine. Having an alternative source of income is to boost your financial strength so that you can be progressive in life and also use the chance to increase your weekly DCA amount in order for you to reach your bitcoin target faster.

You are right, and you have made @bestcandy understand the purpose of emergency funds. But I add some additional hints to the points you have already made. 
First, not everything is an emergency issue (like buying a house or buying a car and other necessary things we need daily are not emergency issues). Emergency cases are unexpected things that happen when you do not expect them. 
I think emergency cases are things that may happen, and if we do not look into them and solve them immediately, we might be at a big loss or high risk. And I believe we know some of the emergency cases, i.e., medical issues, job loss, and natural disasters (which we do not wish for).
Emergency funds should not be used for basic needs (just like you have highlighted already). Basic needs are what an investor needs to take care of before purchasing his regular amount in Bitcoin (through the DCA method).
Before going into an investment, you need to make sure you have your basic needs and other expenses covered, but you only need to take from your emergency funds when there is a crisis, medical attention, or disaster. Do not forget to use spare (leftover) money to invest in Bitcoin. 

Thank you for your clarification and addition @rachael9385, I must said that your assertion about emergency fund is well noted. Emergency fund is not just a fund for basic needs but a fund set aside to hand some unforseen financial responsibilities.
Bitcoin is a very delicate investment that require patience and financial stability so having emergency fund is very important to every successful investor that aim to make a profitable investment in Bitcoin because it will help investors to overcome any uncertainty that may compel them to sell their Bitcoin asset for the purpose sourcing for fund to solve unforseen financial challenges.

[MarjorieZimmermanGinger]

What you really need at first is your discretionary income then emergency fund can come later because it is through your discretionary income you can accumulating Bitcoin with and at first your focus shouldn't be on the profit yet unless you are just trading which is not even advisable to think about rather your focus should be how much bitcoin you will be able to accumulate in a long run. Both the lump sum strategy of accumulating Bitcoin and the DCA strategy are all good you can also lump sum when probably an unexpected money comes to you or maybe you won a huge amount on lottery but the reason why the DCA strategy is more adopted is because it gives you the opportunity of accumulating Bitcoin gradually either weekly or monthly regardless of the bitcoin price and keep hodling for long probably a year range of 4-10 years and more.

In some capacity we have the opportunity to reach the maximum purchase level in bitcoin and may consider the DCA pattern much better because it will provide a much greater opportunity to collect bitcoin. In living life is not just about investment and there are still many other needs that may need to be prepared so that we must have the ability to divide. People who have a view to achieving financial freedom will definitely make adjustments and how investments must be made consistently without ignoring other needs and this is where a strategy is needed so that it can be more optimal.

To achieve all that is not about how much we can buy, but how the level of consistency can be maintained properly and many people are starting to realize the process and I am sure all of us have a way to make that adjustment. Any strategy is good as long as it is done correctly because bitcoin will provide a much better life change if invested consistently.

[MusaPk]

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

You missed the point which I was trying to say. What is practice till now is that one a person dies his left over money and assets are distributed according to his will, in case there is no will different countries have laws in place for that. Like where I live, if a person dies his property is distributed to his parents and family (wife/children) in case the deceased is married or to his parents and brothers/sisters in case deceased is single.
While this won't be the case with Bitcoin. One has to make sure he hands over keys and necessary details to person he trust most in his life, so that in case he dies his loved one can takeover Bitcoins and they are not lost forever on the Bitcoin blockchain. To my knowledge there is no LAW in place in my country that defines how Bitcoins will be distributed to next of kin.
Why taking a risk, why not tell your next of kin about details of your Bitcoins in your life.

[sotelorene]

You may also want to keep a back up of your wallet, and you also might want to have instructions for heirs in the event of your death.  These are not easy questions or problems to solve, to the extent that you might either want to make sure you don't lose your seed words due to some kind of natural disaster (fire or something), and that you have some preference to passing your coins to heirs rather than dying with them.

There won't be any attorney that will distribute your bitcoins to your next of kin after your death, one has to do it himself. There are lot of bitcoin lost forever because of owner losing the keys or due to death of owner. This is something one has to take very seriously, if you have Bitcoins then you must inform your next of kin how to use them after your death. Make sure your hard work is not wasted once you leave this world.

Surely some folks have attorneys or other people they trust in their lives with the most intimate of details, and there can be a variety of ways for persons to make sure that they have some kind of a successorship system in place.  Trusted persons might have some or all of the material, and trusted persons might not even know the complete contents of the materials that they hold if there might be a sealed envelope or a safe or maybe there would be instructions to contact another trusted person (named Benny) for further instructions or for other parts of the puzzle.

i am not suggesting that there is any ONE correct way, even though I am suggesting that some people may well not end up adequately putting systems in place or keeping the information up-to-date if there might be some papers with passwords, there might be a failure to update the sheet after some of the passwords end up needing to be changed.

Yeah , there's nothing wrong with having someone you can trust with your keys to avoid any loss of funds due to lost of passwords or death, but in determining who to give you have to take your time first to see whose trust worthy , because endup telling the wrong person,  the asset may endup still better been lost . Because some folks  can run with your asset before any of these tragic events (such as lost of passwords or death) takes place .

But having a good successor will actually help to prevent your asset from been lost in such way , because even though you endup forgetting the password, your successor would be able to help you   access the password whenever you misplaced it.

Sometimes, there may be some uncertainty which may result to someone loosing his/ her Bitcoin, so to avoid such uncertainty there is need to be proactive such as backing up wallet and passing instructions to heirs or next of kin to inherit the Bitcoin. However, I think one of the problem with heirs or next of kin is trust and integrity issues because if you make a wrong person your next of kin and make your password known to the person when you have a significant Bitcoin investment in place it may be dangerous because the next of kin depending on the person may possibly be planning to take possession of your Bitcoin even when you are still alive. So, think there is need to be very careful when choosing a next of kin.

Backing up ones wallet and passing instructions or information to heir or next of kin is not actually a bad idea and just like you said there are things we can not be sure or certain about because we are just human but the problem is sometimes human being can be unpredictable, though there are some heir or next of kin that no matter what they saw in your wallet they can never move or tempted to eliminate or still what is inside because of the ethics they have but some too even with their ethics they will look for a way to do something funny. However, the fact still remains that if you didn't pass the necessary information or instructions to the heir or next of kin and peradventure something bad happens to the investor off course the asset will be loss but it will be better if an heir take it than for it to waste.

[Frankolala]

One technical side of Bitcoin holding is that patience alone is not enough for you to hold successfully on the longer run, because at the end of the day, a source of income and an emergency funds is even more important than been patience because you might be forced to sell at a loss or even prematurely so as to address a pressing financial needs or an emergency like health issues, though patience is important, but patience alone is not enough to hold successfully, a source of income and an emergency funds are very much key in your ability to hold without tempering with it in the future.

It is necessary to have a steady source of income and set aside emergency funds before starting an investment. These are the foundational key things often called safety nets. Without them, even the most patient of all investors will face challenging situations where they might be temped to tamper their investment prematurely which might often lead to loss.

Of course, setting aside emergency funds when you are investing in bitcoin is good because it is what will help you sort out your unforeseen problems when they arise in the future, but it is not compulsory that a newbie must set aside emergency funds before he or she will start investing in bitcoin. A newbie can start bitcoin investment and accumulate bitcoin for one month without even setting aside emergency funds, but during his or her accumulation journey, he or she can build his or her emergency funds up to three months.

When it comes to investing in Bitcoin, a general rule is that one should build an emergency fund first, but if one wants to, one can start investing without building one at the beginning. However, after investing for a month or a few months, one should build an emergency fund so that they can be protected against any unforeseen circumstances in the future, because unforeseen circumstances can come in a person's life at any moment, and if the investor is not prepared to deal with those unforeseen circumstances at that time, then his holdings can be damaged, and we all know that if the Bitcoin holdings have to be sold suddenly, then the investor can suffer losses at that time. Because at that time the price of Bitcoin may be in a dumping situation, because Bitcoin is a volatile currency.

That is why, to invest in a highly volatile market like Bitcoin, investors should do proper research and develop a risk management strategy, You should use that money to invest in regular DCA, which you will not need in your daily life or any time, and keep all funds ready, emergency funds/reserve funds as well as all necessary funds. In this way, the more an investor invests in Bitcoin, the more secure and confident you can continue holding for Long time.

You guys are perfectly correct. Successful investment in Bitcoin requires patience to hold it for long term because profitability of Bitcoin is directly proportional to the magnitude of your asset and the time you hold the Bitcoin asset which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance. However, DCA method can be more helpful for a planned long time investment than lump sum because it enable one to invest a specific amount of money set aside for the investment in a targeted security and at regular intervals over a certain period of time, regardless of price, it also help investors to have low average cost per share and alsoenhance the reduction of the impact of volatility on the their portfolios.

What you really need at first is your discretionary income then emergency fund can come later because it is through your discretionary income you can accumulating Bitcoin with and at first your focus shouldn't be on the profit yet unless you are just trading which is not even advisable to think about rather your focus should be how much bitcoin you will be able to accumulate in a long run. Both the lump sum strategy of accumulating Bitcoin and the DCA strategy are all good you can also lump sum when probably an unexpected money comes to you or maybe you won a huge amount on lottery but the reason why the DCA strategy is more adopted is because it gives you the opportunity of accumulating Bitcoin gradually either weekly or monthly regardless of the bitcoin price and keep hodling for long probably a year range of 4-10 years and more.

In addition to what you said, discretionary income is not just only to invest alone in a long-term. Discretionary income is also used to set up your several back up funds like the emergency funds, reserve funds and float for more flexibility in your bitcoin long-term accommodation journey. This is why if you don't have an emergency funds before you want to start your bitcoin investment, you can start right away because you have a discretionary income.

You divide your discretionary income into two parts, use one for your weekly DCA purchase and use the other part to start building your emergency funds for at least three months because emergency funds is a back up funds to your bitcoin investment.

[Jaycoinz]

which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance.

You don't need an emergency funds to take care of your basic needs, because emergency funds is to take care of any unforeseen circumstances that plays out during your bitcoin investment

Don't misunderstand the purpose of setting up an emergency funds. Your basic needs should be taken care of from your income before you can use the leftover which is your discretionary to invest in bitcoin and build up your emergency funds. Your emergency funds should only be tampered with when there's an emergency that must be taken care of so that the does not worsen the situation on ground. Like losing your job, the roof of your house was pulled of by storm and severe accident cases.

You don't need to have an alternative source of bitcoin before you can hodli your investment for long as long as you are using the right amount of money from your discretionary income to invest in bitcoin, you will be fine. Having an alternative source of income is to boost your financial strength so that you can be progressive in life and also use the chance to increase your weekly DCA amount in order for you to reach your bitcoin target faster.

Life is filled with so many uncertainty and I believe that's why emergency funds are being set up atleast to tackle some of those situations because if you as an investor fail to have such majors and some of the unplanned issues of life hits you, you will definitely have no other options but to temper with your Bitcoin savings which is the first steps of not being consistent and stable with your Bitcoin investment.

[Sticky Bomb]

which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance.

You don't need an emergency funds to take care of your basic needs, because emergency funds is to take care of any unforeseen circumstances that plays out during your bitcoin investment

Don't misunderstand the purpose of setting up an emergency funds. Your basic needs should be taken care of from your income before you can use the leftover which is your discretionary to invest in bitcoin and build up your emergency funds. Your emergency funds should only be tampered with when there's an emergency that must be taken care of so that the does not worsen the situation on ground. Like losing your job, the roof of your house was pulled of by storm and severe accident cases.

You don't need to have an alternative source of bitcoin before you can hodli your investment for long as long as you are using the right amount of money from your discretionary income to invest in bitcoin, you will be fine. Having an alternative source of income is to boost your financial strength so that you can be progressive in life and also use the chance to increase your weekly DCA amount in order for you to reach your bitcoin target faster.

You are right, and you have made @bestcandy understand the purpose of emergency funds. But I add some additional hints to the points you have already made. 
First, not everything is an emergency issue (like buying a house or buying a car and other necessary things we need daily are not emergency issues). Emergency cases are unexpected things that happen when you do not expect them. 
I think emergency cases are things that may happen, and if we do not look into them and solve them immediately, we might be at a big loss or high risk. And I believe we know some of the emergency cases, i.e., medical issues, job loss, and natural disasters (which we do not wish for).
Emergency funds should not be used for basic needs (just like you have highlighted already). Basic needs are what an investor needs to take care of before purchasing his regular amount in Bitcoin (through the DCA method).
Before going into an investment, you need to make sure you have your basic needs and other expenses covered, but you only need to take from your emergency funds when there is a crisis, medical attention, or disaster. Do not forget to use spare (leftover) money to invest in Bitcoin. 

Everything you've said here looked fine except the bolded text. You don't have to use leftover money after taking care of your backup funds to invest in Bitcoin, else you might be wacky in your accumulation. You must have a fixed amount you map out periodically from your discretionary income to invest into Bitcoin. It would help you remain committed and  focused in your accumulation journey and not leaving it to chances and mercy of having a leftover.

Being precise about our accumulation amount helps us manage our cashflow better. It also helps the investor in the optimal utilisation of his discretionary income since he knows the specific amounts that goes into his Bitcoin accumulation and other variances of backup funds.  He is compelled to be diligent utilizing funds when they are available.

[Mayor of ogba]

which can only be possible when there is a set aside emergency fund to take care of other basic needs because without having alternate source of income one may be tempted to sell the Bitcoin when it has not attain the expected performance.

You don't need an emergency funds to take care of your basic needs, because emergency funds is to take care of any unforeseen circumstances that plays out during your bitcoin investment

Don't misunderstand the purpose of setting up an emergency funds. Your basic needs should be taken care of from your income before you can use the leftover which is your discretionary to invest in bitcoin and build up your emergency funds. Your emergency funds should only be tampered with when there's an emergency that must be taken care of so that the does not worsen the situation on ground. Like losing your job, the roof of your house was pulled of by storm and severe accident cases.

You don't need to have an alternative source of bitcoin before you can hodli your investment for long as long as you are using the right amount of money from your discretionary income to invest in bitcoin, you will be fine. Having an alternative source of income is to boost your financial strength so that you can be progressive in life and also use the chance to increase your weekly DCA amount in order for you to reach your bitcoin target faster.

You are right, and you have made @bestcandy understand the purpose of emergency funds. But I add some additional hints to the points you have already made. 
First, not everything is an emergency issue (like buying a house or buying a car and other necessary things we need daily are not emergency issues). Emergency cases are unexpected things that happen when you do not expect them. 
I think emergency cases are things that may happen, and if we do not look into them and solve them immediately, we might be at a big loss or high risk. And I believe we know some of the emergency cases, i.e., medical issues, job loss, and natural disasters (which we do not wish for).
Emergency funds should not be used for basic needs (just like you have highlighted already). Basic needs are what an investor needs to take care of before purchasing his regular amount in Bitcoin (through the DCA method).
Before going into an investment, you need to make sure you have your basic needs and other expenses covered, but you only need to take from your emergency funds when there is a crisis, medical attention, or disaster. Do not forget to use spare (leftover) money to invest in Bitcoin. 

Everything you've said here looked fine except the bolded text. You don't have to use leftover money after taking care of your backup funds to invest in Bitcoin, else you might be wacky in your accumulation. You must have a fixed amount you map out periodically from your discretionary income to invest into Bitcoin. It would help you remain committed and  focused in your accumulation journey and not leaving it to chances and mercy of having a leftover.

Being precise about our accumulation amount helps us manage our cashflow better. It also helps the investor in the optimal utilisation of his discretionary income since he knows the specific amounts that goes into his Bitcoin accumulation and other variances of backup funds.  He is compelled to be diligent utilizing funds when they are available.

Leftover money can also be called discretionary income, on the other hand, because it is the money that you are left with after you have sorted out your daily expenses. It is always advisable when investing in bitcoin that we should use leftover money or the money that we will not need for 4-10 years or more so that we will always be in the position of solving our daily expenses, which will allow us to hold our bitcoin for a long time. It's not compulsory that you must have a fixed amount of money to invest in bitcoin weekly or monthly so that you will not put yourself in difficult situations to meet up with the fixed amount of money to invest in bitcoin every time. Just stick with what you discretionary income could allow you to invest with every week or month.