Buy the DIP, and HODL!

[Mayor of ogba]

I like the contribution that you people are making here especially the contribution of Sir JJG in regard to young people. However, young people especially those they don't have good career are face with so many challenges that requires smartness, determination and resources to train themselves and acquire skills and knowledge that will enable them to be able to get some income. But one of the problem some young people are having is that they undermine the power of little begining, they want to make it big before thinking investment without knowing that they can start making discret investment in Bitcoin by DCA with the little resources they have and by so doing with good planning, patience and consistency they will possibly have good starch of Bitcoin in the future that will give them good income.

I don't know how much you read the post you quoted before posting this. It's true that JJG spends a lot of time on this topic and posts a lot of helpful stuff, but everyone needs to have the desire, interest and patience to understand what he's trying to convey.

Crypto can change the lives of many. I can tell you from my own example that I have been with Bitcoin and the entire crypto world for almost 7 years. Although I came to this forum later, I have gained a lot from crypto, money, knowledge, and respect. Because with the money I have earned from crypto, my daily expenses run very well and I can use expensive things, due to which people in society respect me. And all this has been possible through buying and selling crypto at the right time. You always have to make your own efforts to research the market. Some people can give you some advice for a while, but you have to fight your life's battle yourself. And to get something good, you have to create different strategies. We all know that if you buy a coin at Dip and sell it at a higher price, you can profit from it. But how many people know which price is best Dip price

We are not talking about crypto (shitcoins) in this thread, and we are also not talking about trading in this thread.  Some guys get mislead by the title of the thread to think that we are talking about trading, when really we are talking about investing.. which is different from trading (gambling).   

Bitcoin is an investment and not a trade, and it is not a shitcoin, either so we need not talk about shitcoins when we are talking about bitcoin.  Anyone in  their earliest years of accumulating bitcoin should be focusing on just buying bitcoin through DCA, lump sum and buying on dips... those are the three ways to accumulate bitcoin.  Trading (or selling) is not a good way to accumulate bitcoin, since if you sell you have less bitcoin and then you take the risk of having even less bitcoin if the BTC price does not end up going down.  So buying BTC on an ongoing, persistent, consistent, regular and perhaps even regular basis is the best way to assure that you are continuing to grow your bitcoin stash while you are still in your accumulation journey.  Once you get to a status of overaccumuation then at that point you might consider selling, but that could take 4-10 years or longer depending on how much a person is able to invest in bitcoin and/or if a person is able to front load his bitcoin investment.

I agree, using DCA and holding Bitcoin for long time is the best way but everyone need to know the difference between shitcoins and Bitcoin. Most shitcoins go to zero.
But, I think it's okay to sell sometimes. Taking partial profits can help if you need money for living expenses.

If it were to be you selling part of your bitcoin investment to sort out a life-threatening issue, I would have supported you to do that if you were in such a situation during your accumulation journey, but since the reason why you want to sell part of your bitcoin is to sort out you living expenses, it is not a wise decision, and I see it as someone who has invested all his money into money, and that could be the reason you want to sell part of your bitcoin to survive. For you not to sell part of you bitcoin to solve your living expenses before you accumulate bitcoin, always make sure you have already sorted out your living expenses and use the leftover money (discretionary income) to invest in bitcoin so that you wouldn't depend on your bitcoin investment to get your living expenses sorted out.

[Proty]

It is important before investing to prepare an emergency fund first, so that when there is an urgent need not to sell bitcoin in the middle of the road, anyone who provides emergency funds will be safe from any needs.

Are you telling me the prospective Bitcoin investor should continue to wait???

This is why some people did not invest in Bitcoin till today, it's one excuse or another and it is hurting them more than you can imagine with the progress Bitcoin has made so far. We should shun excuses and a perfect financial budget but "risk." That is why they call it "risk" and I tell you that some people must have even risked their so-called emergency funds in Bitcoin and are very rich today. Is it not their joy?

This emergency fund is exaggerated at times, it is not the money to pay your usual bills but for unforeseen situations, "which may never happen," so why not try to multiply it with Bitcoin in bull season? Needless to say, your funds in Bitcoin are accessible at any time if at all you have a reason to withdraw it or some of it. Why not take the risk instead of keeping it in the bank and letting the bank make money on you while you earn nothing? This can only be dangerous if you don't have access to your BTC. And who knows, you may never have a need for the emergency fund for years, which makes it wise.

There are things that are beyond our control, no one can predict the future or tell what will happen in the next minute or hours. If you are investing in bitcoin for a long time there is always need for emergency funds because
This is what will safe guard your investment incase of any emergency. No matter the kind of plan we may have put in place as regards our investment there is always need for emergency funds as something beyond our control may crop along the line to derail our plan of holding between for a longer time however with your emergency funds you will be able to hold your bitcoin till the anticipated timeline because you have money you have put in place in case of emergency. So what are this emergency,  like accident, death of love ones so many unpredictable events. Have you asked your self why cars always have spare tyres, your emergency fund is like a spare tyre of a car to your bitcoin investment.

[kasablings]

To my own knowledge on buy the Dip,and HODL.it has to do with investing buying Bitcoin and keeping it is one part,people feel is just buying Bitcoin and hodl.but on question to ask how patient are you to hodl.your patient might not be the same of mine.so it takes discipline on the highest other.and mind you you don't invest on Bitcoin with you all of what you have,cause you will definitely can not be patient.if am not mistaken I feel with my own experience investing in bitcion.is better you have some other  asset to fall to daily,and keep you mind lost out of your bitcion investment.And just stay and observe for as long a you can.

[Olatundespo]

It is important before investing to prepare an emergency fund first, so that when there is an urgent need not to sell bitcoin in the middle of the road, anyone who provides emergency funds will be safe from any needs.

Are you telling me the prospective Bitcoin investor should continue to wait???

This is why some people did not invest in Bitcoin till today, it's one excuse or another and it is hurting them more than you can imagine with the progress Bitcoin has made so far. We should shun excuses and a perfect financial budget but "risk." That is why they call it "risk" and I tell you that some people must have even risked their so-called emergency funds in Bitcoin and are very rich today. Is it not their joy?

This emergency fund is exaggerated at times, it is not the money to pay your usual bills but for unforeseen situations, "which may never happen," so why not try to multiply it with Bitcoin in bull season? Needless to say, your funds in Bitcoin are accessible at any time if at all you have a reason to withdraw it or some of it. Why not take the risk instead of keeping it in the bank and letting the bank make money on you while you earn nothing? This can only be dangerous if you don't have access to your BTC. And who knows, you may never have a need for the emergency fund for years, which makes it wise.

There are things that are beyond our control, no one can predict the future or tell what will happen in the next minute or hours. If you are investing in bitcoin for a long time there is always need for emergency funds because
This is what will safe guard your investment incase of any emergency. No matter the kind of plan we may have put in place as regards our investment there is always need for emergency funds as something beyond our control may crop along the line to derail our plan of holding between for a longer time however with your emergency funds you will be able to hold your bitcoin till the anticipated timeline because you have money you have put in place in case of emergency. So what are this emergency,  like accident, death of love ones so many unpredictable events. Have you asked your self why cars always have spare tyres, your emergency fund is like a spare tyre of a car to your bitcoin investment.

It is true that an emergency fund is needed to prolong your investment but you need to determine how long you need to have an emergency fund to backup for your investment. This fund is designed to provide you with financial peace of mind in the event of an accident or loss of unemployment and income, as well as to protect your Bitcoin investment with a long-term target. As the size of the fund increases, you can accumulate Bitcoin through more aggressive purchases. For example, if you have enough backup funds to cover your family's daily needs for two years you can occasionally accumulate Bitcoin through an aggressive DCA strategy that will increase the size of your pile. The amount of the fund depends on your sufficient income stream. Considering the reliable source of income you can conveniently purchase and replenish Bitcoin in the backup fund which makes you a smarter investor.

[Jewan420]

There are things that are beyond our control, no one can predict the future or tell what will happen in the next minute or hours. If you are investing in bitcoin for a long time there is always need for emergency funds because
This is what will safe guard your investment incase of any emergency. No matter the kind of plan we may have put in place as regards our investment there is always need for emergency funds as something beyond our control may crop along the line to derail our plan of holding between for a longer time however with your emergency funds you will be able to hold your bitcoin till the anticipated timeline because you have money you have put in place in case of emergency. So what are this emergency,  like accident, death of love ones so many unpredictable events. Have you asked your self why cars always have spare tyres, your emergency fund is like a spare tyre of a car to your bitcoin investment.

Emergency fund is not only important for investment management, but emergency fund is also an important part of life management. Whether you are an investor or not, as a human being you should feel the need for emergency fund or give importance to emergency fund to manage life. Since it is not our purpose to talk about life management, it is different from society to society or from nation to nation.

You can never ignore backup (emergency) fund as an investor unless you are a billionaire or millionaire. If you own a lot of money, you may not need emergency fund, but for a common person, at least having an emergency fund is necessary. Because, you can never guarantee your life or you do not have any specific information about your future. In that case, you must be prepared for all possible situations by planning ahead and taking appropriate steps. So that you can keep your investment alive even in every adverse time of life and its growth is not hindered.

[Dee_BlackdAddy]

This time is the time  to accumulate BTC and build your investment goal using any of the strategy that is  suitable for you to buy and hold for long term and not trading out your investment in short term, here we are talking about the future, long term investment is our future and BTC can give us that future.
Anyone who is trading his or her BTC is making a very big mistake, BTC is to be accumulate for long term for those who truly believe, in other for them to make a hugde profit in the future.

[$crypto$]

You don't need to prepare an emergency fund before getting started investing into bitcoin.  One of the most important things in investing into bitcoin is getting started.

Starting with a modest amount of money is better? Yeah maybe you don't need an emergency fund but I do.

Yes.  Of course, we should not be using our bitcoin as our emergency fund.  So you are correct in that, but  we should still not be delayed in getting started, perhaps we have $10 so we can get started investing into bitcoin?  And perhaps we can work our way up to larger investment amounts invested into bitcoin.

It seems that an overwhelming majority of people already will have 2-6 weeks of cash, even poor people, so it is not like a person investing $10 into bitcoin would be using that bitcoin as their emergency fund.

It does make more sense to start with $10 to invest in bitcoin, but for me the emergency fund is important and never says to delay the start.

What I mean is when they have an emergency fund and when there is an urgent need in the sense that we have to spend more than 6 weeks for example for hospital needs? Well I avoid this problem so the emergency fund is important for me.
We never know what happens in the future with unexpected expenses.

None of these are required before getting started.  Why did you not describe the most important thing about bitcoin investment is "getting started?"  You must not know that the most important thing is getting started... or probably you disagree. You think  that waiting is the most important thing.  Makes no sense.

Is there something wrong with my DCA investment strategy?
I think what I said above is useful for myself.
In fact, I never said to delay starting, maybe you can do both --- DCA and emergency fund are always set aside every month.

But for me it has been a good consideration, so that any urgent needs can still be handled without the need to withdraw funds from the investment...

[Futurexxx]

To my own knowledge on buy the Dip,and HODL.it has to do with investing buying Bitcoin and keeping it is one part,people feel is just buying Bitcoin and hodl.but on question to ask how patient are you to hodl.your patient might not be the same of mine.so it takes discipline on the highest other.and mind you you don't invest on Bitcoin with you all of what you have,cause you will definitely can not be patient.if am not mistaken I feel with my own experience investing in bitcion.is better you have some other  asset to fall to daily,and keep you mind lost out of your bitcion investment.And just stay and observe for as long a you can.

In Bitcoin investment, you must have it at the back of your mind that patience alone is not enough, because you might actually be patient to hold, but if you don't have a source of income or an emergency funds to fall back to when their is serious emergency, you will be forced to temper with your investment so as to sort out the issue which is not the right way to go, so buying is one thing, and to be able to hold successfully for a very long period of time is another thing altogether, but if you are financially smart enough to plan well with your money, you will not even think of tempering with your holdings because you have a source of income that can finance your daily expenses, while your emergency  and backup fund is in place already to shield any  pressing emergencies that may arise in the future.

[Mayor of ogba]

To my own knowledge on buy the Dip,and HODL.it has to do with investing buying Bitcoin and keeping it is one part,people feel is just buying Bitcoin and hodl.but on question to ask how patient are you to hodl.your patient might not be the same of mine.so it takes discipline on the highest other.and mind you you don't invest on Bitcoin with you all of what you have,cause you will definitely can not be patient.if am not mistaken I feel with my own experience investing in bitcion.is better you have some other  asset to fall to daily,and keep you mind lost out of your bitcion investment.And just stay and observe for as long a you can.

Since bitcoin is a long-term investment, before people invest their money in bitcoin, they should be able to figure out the amount of bitcoin they want to accumulate and how many years they intend to hold their bitcoin so that they will know how they can discipline themselves to accumulate bitcoin in such a way that they can easily hold their bitcoin for the long term without passing through difficult times to do that. It is even advisable for investors to invest in bitcoin with the money they will not need for 4-10 years or more or with the money they can afford to lose so that they will not depend on their bitcoin investment to survive since they won't be using the money that is meant to cover up for their living expenses to invest in bitcoin.

[JayJuanGee]

It is important before investing to prepare an emergency fund first, so that when there is an urgent need not to sell bitcoin in the middle of the road, anyone who provides emergency funds will be safe from any needs.

Are you telling me the prospective Bitcoin investor should continue to wait???

This is why some people did not invest in Bitcoin till today, it's one excuse or another and it is hurting them more than you can imagine with the progress Bitcoin has made so far. We should shun excuses and a perfect financial budget but "risk." That is why they call it "risk" and I tell you that some people must have even risked their so-called emergency funds in Bitcoin and are very rich today. Is it not their joy?

This emergency fund is exaggerated at times, it is not the money to pay your usual bills but for unforeseen situations, "which may never happen," so why not try to multiply it with Bitcoin in bull season? Needless to say, your funds in Bitcoin are accessible at any time if at all you have a reason to withdraw it or some of it. Why not take the risk instead of keeping it in the bank and letting the bank make money on you while you earn nothing? This can only be dangerous if you don't have access to your BTC. And who knows, you may never have a need for the emergency fund for years, which makes it wise.

In the end, each person needs to assess how much to invest into bitcoin versus how much back up funds that they need on the side for various expenses, and various extra expenses that come up from time to time, and so a person is going to be in a much better position to make sure  that he has extra funds (even if they don't seem that they are working) then to get caught with their pants down and have to sell some or all of their bitcoin at a time that was not of their own choosing due to their not sufficiently prepared enough back up funds (such as an  emergency fund). 

The fact of the matter if a guy creates strong back up funds including an emergency fund (and also other kinds of strong cashflow management to calculate his expenses and to make sure that he is not using funds that he needs for expenses to invest into bitcoin), then he has put himself to be in a position to be aggressive, and perhaps even a wee bit over aggressive from time to time and in strategic ways because he has put strong systems in place and he is not engaging in blind risky behavior that will end up biting him in the ass, sooner or later if he is engaging in repeated episodes of unnecessarily putting his bitcoin principle at risk.

Many of us also realize that if we are starting out  with relatively small amounts of back up funds,  we can still invest into bitcoin, yet we likely need to be building up our back up funds with our bitcoin, and surely the larger  our bitcoin stash becomes, then the more likely we are going to want to have stronger cashflow management and/or back up funds in place so that we do not have to tap into our bitcoin at a time that is not of our choosing, and if we are seriously investing into bitcoin then it is may well be that we are planning  for building our bitcoin investment for 10 years or more, so we don't want to be engaging in sloppy practices that cause us to deplete our bitcoin stash at various inopportune times.

Also as DubemIfedigbo001 mentioned in his responsive post, the reason that you seem so excited about the idea of going balls to  the wall to use emergency funds for investing is because you are not even talking about investing, since investing is a kinds of sustainable approach to be able to stay in the game, but instead you want to over-accummulate in the short term and then hope that you can ride out any short-term volatility,  with an ultimate goal of being able to sell the extra accumulated amount in the event that the BTC price goes up.. so yeah, you are short-term over-accumulating and hoping the BTC price goes up rather than down so that you don't end up getting screwed.. that is not ONLY referred to as trading it is also referred to as gambling to be using money that you either need for expenses or that you might need for expenses, and you are putting your own finances in a situation of experiencing situations in which you don't have enough cash.. therefore creating your own emergencies (or greater likelihood for emergency) merely based on your YOLO approach to wanting to gamble and to advise others to go down a similar reckless path.

It is important before investing to prepare an emergency fund first, so that when there is an urgent need not to sell bitcoin in the middle of the road, anyone who provides emergency funds will be safe from any needs.

Are you telling me the prospective Bitcoin investor should continue to wait???

This is why some people did not invest in Bitcoin till today, it's one excuse or another and it is hurting them more than you can imagine with the progress Bitcoin has made so far. We should shun excuses and a perfect financial budget but "risk." That is why they call it "risk" and I tell you that some people must have even risked their so-called emergency funds in Bitcoin and are very rich today. Is it not their joy?
This emergency fund is exaggerated at times, it is not the money to pay your usual bills but for unforeseen situations, "which may never happen," so why not try to multiply it with Bitcoin in bull season? Needless to say, your funds in Bitcoin are accessible at any time if at all you have a reason to withdraw it or some of it. Why not take the risk instead of keeping it in the bank and letting the bank make money on you while you earn nothing? This can only be dangerous if you don't have access to your BTC. And who knows, you may never have a need for the emergency fund for years, which makes it wise.

There are things that are beyond our control, no one can predict the future or tell what will happen in the next minute or hours. If you are investing in bitcoin for a long time there is always need for emergency funds because
This is what will safe guard your investment incase of any emergency. No matter the kind of plan we may have put in place as regards our investment there is always need for emergency funds as something beyond our control may crop along the line to derail our plan of holding between for a longer time however with your emergency funds you will be able to hold your bitcoin till the anticipated timeline because you have money you have put in place in case of emergency. So what are this emergency,  like accident, death of love ones so many unpredictable events. Have you asked your self why cars always have spare tyres, your emergency fund is like a spare tyre of a car to your bitcoin investment.

EarnOnVictor is recommending that we engage in more risky behaviors to tap into our emergency fund at supposedly strategic times so that we can potentially make more money on bitcoin when it goes up (if it goes up?), yet he is failing/refusing to appreciate that his recommendations increase the chances that emergencies will end up taking place because we are not necessarily going to be able to have as much comfort to deal with any kinds of variation in our cashflow such as loss of income and/or increase in our expenses.. .We end up having little to no cash cushion in situations that EarnOnVictor puts us into, and so we end up creating our own emergency situations by sloppily and recklessly managing our cashflows.  EarnOnVictor is recommending the opposite to what we should be doing, especially if we want to be in a position in which we are able to both invest aggressively into bitcoin and to also be able to weather through difficult times that can come at any time in bitcoin (and in life)..and difficult situations come a lot of the time, yet EarnOnVictor wants us to go forward with little to no cash cushion and to just take our chances (which is another way of describing gambling with our BTC investment).

There are things that are beyond our control, no one can predict the future or tell what will happen in the next minute or hours. If you are investing in bitcoin for a long time there is always need for emergency funds because
This is what will safe guard your investment incase of any emergency. No matter the kind of plan we may have put in place as regards our investment there is always need for emergency funds as something beyond our control may crop along the line to derail our plan of holding between for a longer time however with your emergency funds you will be able to hold your bitcoin till the anticipated timeline because you have money you have put in place in case of emergency. So what are this emergency,  like accident, death of love ones so many unpredictable events. Have you asked your self why cars always have spare tyres, your emergency fund is like a spare tyre of a car to your bitcoin investment.

Emergency fund is not only important for investment management, but emergency fund is also an important part of life management. Whether you are an investor or not, as a human being you should feel the need for emergency fund or give importance to emergency fund to manage life. Since it is not our purpose to talk about life management, it is different from society to society or from nation to nation.

Emergency fund can always be used, but it is more important when we are investing in volatile assets like bitcoin, since bitcoin is not pegged to the dollar or  any other fiat,  so the price of bitcoin  can vary a lot from the price of your local  fiat, and emergency funds become more important when you have a bitcoin investment in order that your  bitcoin  investment is not serving as an emergency fund.. which is what a lot of folks (without experience/knowledge) end up inadvertently doing.

You can never ignore backup (emergency) fund as an investor unless you are a billionaire or millionaire. If you own a lot of money, you may not need emergency fund, but for a common person, at least having an emergency fund is necessary. Because, you can never guarantee your life or you do not have any specific information about your future. In that case, you must be prepared for all possible situations by planning ahead and taking appropriate steps. So that you can keep your investment alive even in every adverse time of life and its growth is not hindered.

Yep.  Emergency funds are way more important for poor people (or more financially challenged people, which truly a large number of people live without much if any backup funds), and so a lot of poor people do not realize how important it is to have back up funds so that they don't end up tapping into their BTC, so frequently they will end up selling way too many bitcoin too soon and not even able to weather through periods that the BTC price is going crazily high, then they will end up selling too many too soon because they see profits and they fail to have other funds or other ways of employing strong cashflow management so that they are not tempted to dip into their BTC, even if their BTC are "in profits.")

This time,is the time  to accumulate BTC and build your investment goal using any the strategy that suitable for you to buy and hold for long term and not trading out your investment in short term,here we are talking about the future,long term investment is our future and BTC can give us that future.
Anyone who is trading his or her BTC is making a very big mistake,BTC is to be accumulate for long term for those who true believe, in other for them to make a hugde profit in the future.

Since we don't know you Dee_BlackdAddy.. maybe you should be trying to make your posts relating to your own personal bitcoin-related experience rather than just throwing  out abstract ideas about best practices when maybe we need to know more about what you are doing so that we can get to know you MOAR better...and maybe we might become better able to understand why you might be saying the things that you are saying.

You don't need to prepare an emergency fund before getting started investing into bitcoin.  One of the most important things in investing into bitcoin is getting started.

Starting with a modest amount of money is better? Yeah maybe you don't need an emergency fund but I do.

If you might not have realized that my point is that most people already have some kind of an emergency fund.. so there is no need to be overly preparing when the most important thing is getting started rather than fucking around with delaying excuses.. so stop trying to act like I am saying something that I did not say.  Do you have $10 or not?  if you have $10 you can get started.  No reason to overly complicate matters in regards to getting started. Now in order to keep investing $10 every week, then that is going to take more focus on making  sure that you are not spending beyond your discretionary income...since part of the reason for an emergency fund is to make sure that we are not investing beyond our discretionary income, and if we don't have any discretionary income, then we should not be investing into bitcoin until we can at least get that part figured out to make sure that we are investing from our discretionary income.

Yes.  Of course, we should not be using our bitcoin as our emergency fund.  So you are correct in that, but  we should still not be delayed in getting started, perhaps we have $10 so we can get started investing into bitcoin?  And perhaps we can work our way up to larger investment amounts invested into bitcoin.

It seems that an overwhelming majority of people already will have 2-6 weeks of cash, even poor people, so it is not like a person investing $10 into bitcoin would be using that bitcoin as their emergency fund.

It does make more sense to start with $10 to invest in bitcoin, but for me the emergency fund is important and never says to delay the start.

It sounded to me that you were saying that an emergency fund was needed before starting, and surely that could become quite complicated in terms of figuring out how much of an emergency fund that you believe is needed prior to  getting started.  You were ambiguous on that point, which contributed to my concluding that you were proclaiming that having an emergency fund was more important than getting started.

What I mean is when they have an emergency fund and when there is an urgent need in the sense that we have to spend more than 6 weeks for example for hospital needs? Well I avoid this problem so the emergency fund is important for me.
We never know what happens in the future with unexpected expenses.

If a person is brand new to considering investing into bitcoin, has that person thought about the possibility of having to spend 6 weeks in hospital? or are they just thinking about it as an excuse to not get started? 

If we are talking about a person who is totally not prepared for anything and has absolutely no cash, and does not know where his next paycheck  is coming from,  then maybe he is not in a position to get started investing into bitcoin.  You think that determining to  buy $10 worth of bitcoin should  be less important than making sure that you have the ability to stay 6 weeks in the hospital?  Were you thinking about this prior to learning about bitcoin or you just thought about it as an excuse to not get started to buy your first $10  worth of bitcoin?  I don't understand the supposed dilemma that you are suggesting to be present that would cause a need to delay any newbie in getting started with his bitcoin investment journey.

None of these are required before getting started.  Why did you not describe the most important thing about bitcoin investment is "getting started?"  You must not know that the most important thing is getting started... or probably you disagree. You think  that waiting is the most important thing.  Makes no sense.

Is there something wrong with my DCA investment strategy?

You were describing a waiting strategy. You said wait until you build up your emergency fund first.  That does not sound like DCA  to me.

I think what I said above is useful for myself.

We are in a public thread, and we were not just talking about you.  You were saying that you thought that it was a good idea to build your emergency fund first before getting started.

In fact, I never said to delay starting,

If you are saying to build your emergency fund first, that sounds like delay to me.  That's how I read it.

maybe you can do both --- DCA and emergency fund are always set aside every month.

Of course, you can do both, but that is not what you said in the beginning.  You said to make sure that your emergency fund was in place first.

But for me it has been a good consideration, so that any urgent needs can still be handled without the need to withdraw funds from the investment...

Not withdrawing from the investment should be the goal,  but  it does not  need to delay getting started and buying your first $10 of bitcoin, especially if you figure out that you have $10 available. You were considering to buy $10 worth of cigarettes to smoke over the next two weeks, but instead of buying the $10 in cigarettes, you decide to not smoke for the next two weeks and buy $10 worth of bitcoin.  What is wrong with that?  It is a trade off. You already had the $10 that you were going to use for cigarettes, but you change your mind. It is not like the cigarettes were needed.. they were optional. .they were discretionary.. So instead of using the discretionary income for cigarettes, you decided to buy bitcoin with it... That means that it was extra money that was beyond your needs for expenses..at least in regards to that initial $10.   Sure, for next week you might have to figure out if you have any discretionary income, but at least you got started with your first $10 and you are going to have to figure out whether and/or the extent to which you continue to have discretionary income that you are able to continue to buy bitcoin on a weekly basis (or whatever other determinations you might subsequently make regarding additional bitcoin purchases, if any?).

[red4slash]

Of course a good job with a big salary or at least minimum wage is a must for young people. Because it can support what they want including investing. So it is very important for young people in their brain development period to learn and improve their skills in order to easily get a job because currently skills are one of the most important things to make it easier for them to get a job and so that their future is well directed and having a permanent job and a good salary will make them able to realize their desires especially to save and also invest and also other desires for a better future.

And in my opinion if young people who are still in school if they have to save and also invest it is difficult and not as easy as what is said, because their finances are limited and they also have to focus on learning and developing their skills so that after graduating there are results that support them if they want to save and also invest from the results of the work they get because education is also an important investment so that after graduating or in the future the education obtained can generate money and the money can be saved and also invested. And if both of his children are still in school, then he must save or invest where the money is obtained, while the money given by his parents is only enough for school fees, and besides that, in investing there will be risks and it also involves psychologists and this will interfere with his studies.

For young people who are 18 years old, of course they can start investing with $10 regularly or this is savings for their future. By the age of 30 they have been investing 12 years in bitcoin if they start at the age of 18. it is a good step for parents to educate their children to save or invest in bitcoin.

I think many young people are currently earning big incomes from social media, they are good at making money through Youtube, tiktok and so on. So side income when you are still young can of course be used to invest in bitcoin.

If they are able to manage their finances well from a young age, of course their future will be better compared to them splurging by buying luxury goods.

Actually, for this matter, I don't think there are any restrictions on the age and nominal investment made because after all, for things like this, it ultimately comes back to conditions and abilities, especially since we also have to pay attention to where we live and how much income we have in the end.

The age of 18 years old for now in some countries has become an age that is considered an adult and can earn their money independently and it is even possible that at this age it is the initial age to achieve productivity in their economic development so in the end as long as they can afford more then why not but on the other hand there is also no limit to set $ per week / per week as an investment material made because it all comes back to financial conditions in the sense of income they have in every month they get.

Because again investing in the end must still think about income first so that we don't get lost and can't do it well because we can't manage the finances we do so that in the end the investment goal becomes wrong because we are unable to manage our finances properly.

[ginsan]

Not withdrawing from the investment should be the goal,  but  it does not  need to delay getting started and buying your first $10 of bitcoin, especially if you figure out that you have $10 available. You were considering to buy $10 worth of cigarettes to smoke over the next two weeks, but instead of buying the $10 in cigarettes, you decide to not smoke for the next two weeks and buy $10 worth of bitcoin.  What is wrong with that?  It is a trade off. You already had the $10 that you were going to use for cigarettes, but you change your mind. It is not like the cigarettes were needed.. they were optional. .they were discretionary.. So instead of using the discretionary income for cigarettes, you decided to buy bitcoin with it... That means that it was extra money that was beyond your needs for expenses..at least in regards to that initial $10.   Sure, for next week you might have to figure out if you have any discretionary income, but at least you got started with your first $10 and you are going to have to figure out whether and/or the extent to which you continue to have discretionary income that you are able to continue to buy bitcoin on a weekly basis (or whatever other determinations you might subsequently make regarding additional bitcoin purchases, if any?).

Yes sir, sometimes it is the best decision to stop the habit of wasting money to be able to buy Bitcoin. Many people misuse discretionary income and that includes me in the past because in 2019 I often spent $300 of discretionary income just to gamble, I thought that gambling could increase my income because I could win but all that was the biggest mistake and I realized it when my money ran out in gambling.

When I think long term of course I have to use discretionary income for my future and one of them is choosing to invest in bitcoin. It is true that sometimes gloomy times lead us in a better direction if we can think and reflect on what we have done before.

Honestly, discretionary income is my first step in choosing to invest in bitcoin, also with side income/bonuses I can increase purchases more aggressively at several stages.

With our routine, when we look at the portfolio of course the pile of bitcoin investments has increased because of our routine in buying bitcoin every week.
So I agree with you, wasting money should be stopped because it is only for a moment and has no benefit for us, so it is better to invest discretionary income in bitcoin.

[Cryptoprincess101]

Of course a good job with a big salary or at least minimum wage is a must for young people. Because it can support what they want including investing. So it is very important for young people in their brain development period to learn and improve their skills in order to easily get a job because currently skills are one of the most important things to make it easier for them to get a job and so that their future is well directed and having a permanent job and a good salary will make them able to realize their desires especially to save and also invest and also other desires for a better future.

And in my opinion if young people who are still in school if they have to save and also invest it is difficult and not as easy as what is said, because their finances are limited and they also have to focus on learning and developing their skills so that after graduating there are results that support them if they want to save and also invest from the results of the work they get because education is also an important investment so that after graduating or in the future the education obtained can generate money and the money can be saved and also invested. And if both of his children are still in school, then he must save or invest where the money is obtained, while the money given by his parents is only enough for school fees, and besides that, in investing there will be risks and it also involves psychologists and this will interfere with his studies.

For young people who are 18 years old, of course they can start investing with $10 regularly or this is savings for their future. By the age of 30 they have been investing 12 years in bitcoin if they start at the age of 18. it is a good step for parents to educate their children to save or invest in bitcoin.

I think many young people are currently earning big incomes from social media, they are good at making money through Youtube, tiktok and so on. So side income when you are still young can of course be used to invest in bitcoin.

If they are able to manage their finances well from a young age, of course their future will be better compared to them splurging by buying luxury goods.

Actually, for this matter, I don't think there are any restrictions on the age and nominal investment made because after all, for things like this, it ultimately comes back to conditions and abilities, especially since we also have to pay attention to where we live and how much income we have in the end.

The age of 18 years old for now in some countries has become an age that is considered an adult and can earn their money independently and it is even possible that at this age it is the initial age to achieve productivity in their economic development so in the end as long as they can afford more then why not but on the other hand there is also no limit to set $ per week / per week as an investment material made because it all comes back to financial conditions in the sense of income they have in every month they get.

Because again investing in the end must still think about income first so that we don't get lost and can't do it well because we can't manage the finances we do so that in the end the investment goal becomes wrong because we are unable to manage our finances properly.

Anyone can decide to own investment in bitcoin even if they are below 18 years because they are basically investing in their future so far as they have the discretionary amount to do so and if they have already started earning money on their own. An 18 years old is considered to have approached an age that they can take their own decision without their parents interfering with their decisions so yeah at that age they are good to go with their investment in bitcoin. 
      @reefsea should have said that those who are 18 years and above can invest 10% of their income instead of saying $10 because at 18 years, they don't have much responsibility to spend their money on and the amount the will invest will be determined by the size of their income, so within that age is the time of building their future by investing their money rather than spending lavishly. At that age is a time to figure out and make decisions that will clear the path for them in the future because not too long they can enter into marriage and they become tied to responsibilities such that they may not have enough to invest again and also take care of their family so the earlier will be the better for them at that age.
      No one starts an investment without a source of income because even for someone who want to invest using the DCA strategy it will still require a source of income before you can confidently be funding your DCA at regular intervals.

[Mayor of ogba]

This time,is the time  to accumulate BTC and build your investment goal using any the strategy that suitable for you to buy and hold for long term and not trading out your investment in short term,here we are talking about the future,long term investment is our future and BTC can give us that future.
Anyone who is trading his or her BTC is making a very big mistake,BTC is to be accumulate for long term for those who true believe, in other for them to make a hugde profit in the future.

Don't be deceived; there's no right time to say it is the perfect time to accumulate bitcoin, so the only time that is right to accumulate bitcoin is when your accumulation money is readily available, and you adopt the DCA strategy and accumulate bitcoin right away without waiting for any price or for bitcoin to dump. Since you are a newbie or a lower coiner, your focus shouldn't be centered on teaching so that you will not get distracted from things you are supposed to know. If you have already started investing in bitcoin, you should just focus on your accumulation process and your learning process and leave teaching us for now. When you have gained more knowledge about bitcoin, you can now start to share your knowledge with us, and we will learn from you.

[Greyhats]

All these sub 100k prices, its nice. My DCA buys are loving it at the moment.

Even though I'm being super patient I would love some uppity to happen again and leave the 90's behind.

Keep stacking :-)

[Tonimez]

All these sub 100k prices, its nice. My DCA buys are loving it at the moment.

Even though I'm being super patient I would love some uppity to happen again and leave the 90's behind.

Keep stacking :-)

One thing in this life is that the wise ones make use of every opportunity. Dips are just but a common occurrence in the crypto/bitcoin investment. Seeing every day as Dip is one thing, meeting actual dips is also another thing, but utilizing the opportunity to accumulate depends on having a viable source of income where you plan yourself and invest by DCA.

Bitcoin has a future and I have seen that it will surely pay off. Focus on DCA and descretionary income and you will see your accumulation gaining strength no matter the market price.

[reefsea]

Anyone can decide to own investment in bitcoin even if they are below 18 years because they are basically investing in their future so far as they have the discretionary amount to do so and if they have already started earning money on their own. An 18 years old is considered to have approached an age that they can take their own decision without their parents interfering with their decisions so yeah at that age they are good to go with their investment in bitcoin. 
      @reefsea should have said that those who are 18 years and above can invest 10% of their income instead of saying $10 because at 18 years, they don't have much responsibility to spend their money on and the amount the will invest will be determined by the size of their income, so within that age is the time of building their future by investing their money rather than spending lavishly. At that age is a time to figure out and make decisions that will clear the path for them in the future because not too long they can enter into marriage and they become tied to responsibilities such that they may not have enough to invest again and also take care of their family so the earlier will be the better for them at that age.
      No one starts an investment without a source of income because even for someone who want to invest using the DCA strategy it will still require a source of income before you can confidently be funding your DCA at regular intervals.

You are right, I mean they are students, they will use the money given by their parents to save this will strengthen themselves to save themselves for success in the future. Many young people aged 18 are still negligent in playing games so if they are aware and learn from a young age to invest in youth is a good step in honing the will not to splurge.

In addition, the age of 18 is still under parental supervision, parental education will lead them in a better direction. It is true that bitcoin has become an investment attraction that is of interest from the 18 year old to the elderly, but most of them are those who are aware of modern technology today.

[sotelorene]

This time,is the time  to accumulate BTC and build your investment goal using any the strategy that suitable for you to buy and hold for long term and not trading out your investment in short term,here we are talking about the future,long term investment is our future and BTC can give us that future.
Anyone who is trading his or her BTC is making a very big mistake,BTC is to be accumulate for long term for those who true believe, in other for them to make a hugde profit in the future.

Don't be deceived; there's no right time to say it is the perfect time to accumulate bitcoin, so the only time that is right to accumulate bitcoin is when your accumulation money is readily available, and you adopt the DCA strategy and accumulate bitcoin right away without waiting for any price or for bitcoin to dump. Since you are a newbie or a lower coiner, your focus shouldn't be centered on teaching so that you will not get distracted from things you are supposed to know. If you have already started investing in bitcoin, you should just focus on your accumulation process and your learning process and leave teaching us for now. When you have gained more knowledge about bitcoin, you can now start to share your knowledge with us, and we will learn from you.

It seems you misunderstood what he or she is saying in the post and it still appears like you are saying what he or she has said in a different format or style and I don't think he or she is wrong in this post because it is actually the truth about Bitcoin, the best way to go about it is to set out your discretionary,  accumulate and hold for a long period of time which in turn will give us what we desired. However, sometimes it look somehow when newbie is teaching or giving ideas to people that has more experience ( Rank ) but the truth is it doesn't really matter because some newbie has been in the field of investment for some time before they join us here some since what he or she is saying is not wrong what we need do is embrace it and work on it and perhaps other newbie who will join can still learn from it.

[JayJuanGee]

Not withdrawing from the investment should be the goal,  but  it does not  need to delay getting started and buying your first $10 of bitcoin, especially if you figure out that you have $10 available. You were considering to buy $10 worth of cigarettes to smoke over the next two weeks, but instead of buying the $10 in cigarettes, you decide to not smoke for the next two weeks and buy $10 worth of bitcoin.  What is wrong with that?  It is a trade off. You already had the $10 that you were going to use for cigarettes, but you change your mind. It is not like the cigarettes were needed.. they were optional. .they were discretionary.. So instead of using the discretionary income for cigarettes, you decided to buy bitcoin with it... That means that it was extra money that was beyond your needs for expenses..at least in regards to that initial $10.   Sure, for next week you might have to figure out if you have any discretionary income, but at least you got started with your first $10 and you are going to have to figure out whether and/or the extent to which you continue to have discretionary income that you are able to continue to buy bitcoin on a weekly basis (or whatever other determinations you might subsequently make regarding additional bitcoin purchases, if any?).

Yes sir, sometimes it is the best decision to stop the habit of wasting money to be able to buy Bitcoin. Many people misuse discretionary income and that includes me in the past because in 2019 I often spent $300 of discretionary income just to gamble, I thought that gambling could increase my income because I could win but all that was the biggest mistake and I realized it when my money ran out in gambling.

Of course, each of us probably either have been such a category of wasting our money or we know others who engage in such behaviors, and they seem to be unable to control their own desires to gamble, and perhaps they are not disciplined and they even know that they are engaging in a bad habit.  I know a guy (an in-law) who gambles anywhere between $20 and $100 per week on scratch ticket (lottery tickets), and he does not have any bitcoin.  Amazing how rich he could be since I had been telling him about bitcoin, if he had put that scratch lottery money into bitcoin. He has some other bad habits too that relate to smoking, drinking and taking drugs (even though I think he probably does not have to spend much on the drugs since I think that he sells it. .kind of in covert ways).. I am not sure but he has quite a few bad habits that cost him money and probably he could be pretty well off by now.  I cannot recall if I first told him about bitcoin in 2017 or perhaps  it was a later date.  He did have some time that he was not really able to work.. but generally even we started from early-2020, and if we figured that he could have had invested $100 per week then by now he would have had invested right around $26k, and he would have 1.0553 BTC, which surely would not be a bad place to be in regards to savings/investment into BTC.

When I think long term of course I have to use discretionary income for my future and one of them is choosing to invest in bitcoin. It is true that sometimes gloomy times lead us in a better direction if we can think and reflect on what we have done before.

Honestly, discretionary income is my first step in choosing to invest in bitcoin, also with side income/bonuses I can increase purchases more aggressively at several stages.

With our routine, when we look at the portfolio of course the pile of bitcoin investments has increased because of our routine in buying bitcoin every week.
So I agree with you, wasting money should be stopped because it is only for a moment and has no benefit for us, so it is better to invest discretionary income in bitcoin.

I am not even proclaiming that guys need to eliminate all of their waste and/or fun money and/or their bad habits, yet I am suggesting that there likely are many situations in which guys are going to both be able to get started investing into bitcoin, and they also will be able to figure out ways to buy bitcoin every week.  Surely some guys might take some time to figure out their finances and psychology in order to get their finances and psychology in order so that they might start out with $10 per week and then be able to slowly increase their weekly amounts as they get to both stronger cashflow management but also figuring out that it is going to be to their better interest to be attempting to be focusing on bitcoin investing, or at least to include bitcoin investing as something that they reinforce (and practice) on a weekly-ish basis or however frequently that they are able to reasonably accomplish within the boundaries of their own other balances in their life, even if they might choose to keep some of their bad habits... In the end, they choose and they can enjoy and/or suffer the consequences, and many of us know that even small amounts of investing into bitcoin every week is not like we are not giving anything up, since even  $10 per  week can start to add up to a lot of value, and also we might have to spend a lot of time learning about how to source our bitcoin and various other ways of making sure that we are comfortable with how we are investing in bitcoin including perhaps making some plans and projections around our bitcoin investment efforts..

All these sub 100k prices, its nice. My DCA buys are loving it at the moment.

Even though I'm being super patient I would love some uppity to happen again and leave the 90's behind.
Keep stacking :-)

For sure, there can be a dilemma because we want confirmation, yet if we are still in our accumulation phase, then there should not be any rush.

Of course, at some point we might start to sense that we are close to having enough or more than enough, so we might start to stack less frequently and less aggressively, and surely based on your forum registration date, you may be coming to your own first full cycle anniversary, even though I recall that you mentioned that you might not have had as good of a focus in your earliest of bitcoin times in terms of your accumulation of dee cornz, but surely as we stack and as our holdings are in profits, we likely need not feel any rush to experience UP, even though surely after we have accumulated quite a bit of dee cornz, we also likely realize that we can get to our goal with more stacking and a little bit of more up or we can also get to our goal by a lot of up and without necessarily stacking anymore...so yeah, there can be dilemmas, especially after we have been building our BTC stash for a bit of time, such as one whole cycle (which surely you are getting close to that in terms of your forum registration date..even if you might have another date that you would characterize as your "actual" and more representative BTC stacking starting date). 

This time,is the time  to accumulate BTC and build your investment goal using any the strategy that suitable for you to buy and hold for long term and not trading out your investment in short term,here we are talking about the future,long term investment is our future and BTC can give us that future.
Anyone who is trading his or her BTC is making a very big mistake,BTC is to be accumulate for long term for those who true believe, in other for them to make a hugde profit in the future.

Don't be deceived; there's no right time to say it is the perfect time to accumulate bitcoin, so the only time that is right to accumulate bitcoin is when your accumulation money is readily available, and you adopt the DCA strategy and accumulate bitcoin right away without waiting for any price or for bitcoin to dump. Since you are a newbie or a lower coiner, your focus shouldn't be centered on teaching so that you will not get distracted from things you are supposed to know. If you have already started investing in bitcoin, you should just focus on your accumulation process and your learning process and leave teaching us for now. When you have gained more knowledge about bitcoin, you can now start to share your knowledge with us, and we will learn from you.

It seems you misunderstood what he or she is saying in the post and it still appears like you are saying what he or she has said in a different format or style and I don't think he or she is wrong in this post because it is actually the truth about Bitcoin, the best way to go about it is to set out your discretionary,  accumulate and hold for a long period of time which in turn will give us what we desired. However, sometimes it look somehow when newbie is teaching or giving ideas to people that has more experience ( Rank ) but the truth is it doesn't really matter because some newbie has been in the field of investment for some time before they join us here some since what he or she is saying is not wrong what we need do is embrace it and work on it and perhaps other newbie who will join can still learn from it.

You may have a decent point sotelorene.  It is true that we cannot always know the level of experience of any forum newbie, yet it would also be helpful if newbies might describe some of their background and/or experiences, especially if they get into situations where  they are trying to say what other guys should do. 

I agree with the idea that many of us can learn from almost anyone from a variety of experiences, yet some guys do sometimes need to learn how to present their ideas better so that they are not lecturing other guys in general kinds of ways that might not seem to mean anything if they either don't give examples or explain why they might agree or disagree with prior points that were made in some previous post(s).

Some members also seem like bots, so it might take several posts from them before we start to get used to them, especially if they are not a bot or perhaps overly relying on AI to draft their posts.  It seems better if guys might talk about their own experiences sometimes (not giving away OPSec) or maybe provide some examples that will help to make us see that they are actually engaging with the topic in ways that might be more helpful to other members. (probably helpful to themselves too.. since sure we do not necessarily need to be here to help others, since writing posts and interacting might still be just to help ourselves to understand better, and nothing wrong with those kinds of interactions and/or questions that guys might have).

[UchihaSarada]

Not withdrawing from the investment should be the goal

This ambitious ultimate goal only can be achievable if your investment strategy and personal financial management is very good. Like you always have your financial reserve to use, and surely don't need to touch your capital stored in Bitcoin investment portfolio. If you manage your personal finance like this, it's highly likely no need to sell your bitcoin, to withdraw it from your Bitcoin portfolio.

They can consider withdrawal strategies like yours.
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

but  it does not  need to delay getting started and buying your first $10 of bitcoin, especially if you figure out that you have $10 available. You were considering to buy $10 worth of cigarettes to smoke over the next two weeks, but instead of buying the $10 in cigarettes, you decide to not smoke for the next two weeks and buy $10 worth of bitcoin.  What is wrong with that?  It is a trade off.

Investment has to start with good understanding about Bitcoin fundamentally, as well as knowing about its risk and chance to get profit. All things need to be based and learned from Bitcoin white paper, available learning resources for beginners, and historic price and ROI of Bitcoin.

After have good knowledge about Bitcoin, it's time to find a good investment strategy, and among many strategies, Dollar Cost Averaging is a best one for almost all investors.
https://dcabtc.com/
https://costavg.com/