Buy the DIP, and HODL!

[LGD2Business]

So many people focus so much on having a stable income but forget the importance of actually managing that income wisely , discretionary income is really the game changer for any kind of investment , especially with something as volatile as Bitcoin . what real happened to cold joker is a real lesson to very one without an emergency fund you are forced to liquidate investments at the most possible time it is not just about how much you earn , it is about how well you plan for the unexpected.

If a person can't manage their income well, they can't make the right investments either. It's important to keep good track of income and expenses, calculate how much money to set aside for investment and buy the right assets at the right price. Many people, despite having a high income, can't allocate money for investments because they can't reduce their expenses and spend money on unnecessary things. Those who maintain a balanced income-expense ratio can purchase Bitcoin as they wish. They can set aside money every day/week or as soon as their salary arrives to make Bitcoin investments. However, those who can't control their expenses can't make investments nor hold onto their investments for the long term.

[Loyang]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

[Berry2d]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income.

That is a contradiction, you don't need a source of discretion as discretion is a leftover money after your total expenses. Your source of income may be from a job or any work that provides an income, but not discretion. Discretion is just the remains from the income you generated after expenses.

If you do it with your fixed income source, it may not be very sustainable. For example,

There is no one that invest from there fixed income but from their discretion fund.

Well I think you have said all I wanted to say in the last paragraph just that there is a little misconception in the fist paragraph.

[Tonimez]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

I don't really understand what you mean by fixed income, does that mean all your income (pay) which I don't think anyone can make such mistake of investing with his entire income. Everyone has a bill to pay either personal or extended.

You're right about investing with discretionary income only because that is the best way to achieve a sustainable bitcoin long-term holding but I also want to clarify that you don't invest with all your discretionary income. You only invest a part of the  discretionary income and share others into your emergency funds and back up funds. This is a more trusted way of ensuring a long-term holding since no bitcoin stash can make it long without an emergency funds and back up funds.

Having a stable source of income is paramount in setting up your DCA approach to bitcoin investment. This is because you analyse your cashflow and set up a good financial management strategy to allocate every bit of the income to your responsibilities until every of your basic responsibilities are met or taken care of. The money left after handling these responsibilities is what you refer to as your discretionary income from where you also set aside the amount that will go into your emergency funds and the ones that will go into the backup funds with which you can compensate for any excesses in your planned responsibilities. At all, the amount left of your Discretionary income is referred to as the investment funds which is what goes into the bitcoin accumulation.

If someone can be succinct in his cashflow management, provided he has a source of income, the wouldn't be much possible reasons to sell off his bitcoin prematurely. Disobeying your set cashflow system would also affect your bitcoin investment at anytime.

[Tungbulu]

Yes, emergency funds is very necessary for the sustainability of your Bitcoin investment, but a stable source of income as you said is not necessary because their are guys that has a stable source of income but still can't figure out their discretionary income, what a newbie investor need in other to invest smoothly is a discretionary income, money left after all his or her basic needs has been met, bit in the case of cold_joker, he fails to have an emergency funds in place that was why he sold off his Bitcoin holdings so as to pay the hospital bills of his friend, but if he had an emergency funds in place, he wouldn't have sold off his holdings in times like that.

Not necessarily that he never had an emergency funds, there are situations you find yourself that only your emergency funds can't solve, he must have had, there might be that he must have spent the emergency fund on the same health issues and yet the persons health is not improving because they have not being able to get the required fund needed for the treatment, instead of allowing the person to die who is very dear to you, and you have some bitcoin that will save the persons life which you are very sure that the person will survive, is it not better to save that your family member life than allowing the person to die? and regret it, then of what value or worth are we now investing in bitcoin to meet our needs and be comfortable in life, if we cannot use it when needed.

According to what you said in the highlighted statement, it shows that you are just speculating and you aren't sure if he has an emergency funds or not, secondly, this is one of the reasons sir jayjuangee always emphasize that our emergency funds should be big enough to sustain us for the minimum of 3 months, because I am quite positive that if he has such an emergency funds in place, he wouldn't have sold off his Bitcoin.

Remember we are investing in bitcoin to save us from future lacks and be able to take care of our family needs, so if selling your bitcoin to save a life, then it worth it, at least you should be happy saving a life with bitcoin because bitcoin has also saved you from financial stress and otherwise.

Their are two things we that makes us invest in Bitcoin, first is to secure our future financially, second is to protect our money against inflation, he got into this terrible situation because he never planned for days like this, and the purpose of having an emergency and reserve funds is for days like that, and I bet you, if he had planned for days like that by having an emergency and reserve funds in place, he wouldn't have tempered with his holdings talkless of selling everything off.

Frequently, I suggest that 3 months minimum is the target Emergency funds level that we should strive to reach, even though I also suggest that it could take some guys quite a bit of time to reach such 3 month target levels (maybe a year or two), especially when he is first building up his bitcoin investment.. so in those circumstances, he might be building up his bitcoin investment and his emergency funds at the same time.... and then once each of them has reached 3 months of expenses, then perhaps at that time such guys might start to invest into our bitcoin more aggressively, even though surely some guys might also want to continue to build their back up funds beyond 3 months, which would be reserve funds and have more flexibility in how reserve funds are used... So there are ideal standards and there may well be things that guys might choose to do in regards to both how much back up funds that they keep at any particular time. which their own income and expense circumstances can justify how they keep their various back up funds and for what purposes they might designate the tapping into such back up funds and/or the building back up of such back up funds after they have been tapped into.

The importance of having a solid emergency fund in place cannot be overemphasized, and it's quite reasonable to aim for at least, 3 months of one's living expenses, at least that's reasonable enough. It's also important to note that reaching this target isn't very easy and requires quite some time, especially when the individual is simultaneously building their Bitcoin portfolio alongside the Emergency fund.
In a situation like this, it's important to set one's priorities straight, which is to prioritize both emergency fund and Bitcoin's investment by allocating resources accordingly to both of them, and then once the targeted size has been achieved I the emergency fund, folks may now have to reassess their strategy and become more aggressive in their Bitcoin accumulation.

It's very mandatory for every individual to have the flexibility of adjusting their backup fund levels as well as designations based on their individual circumstances and financial position. Yeah, it's true that some folks would rather prefer to just have a larger emergency fund and not bother having other reserve funds, but it think it's important to have desperate backup funds, such as the reserve and float funds, as this may prevent one from always tapping into the emergency when minor financial needs or emergencies comes up, because this will help the emergency fund remain standby for actually emergencies which is the main purpose it was initially built, using it for all emergencies, including the minor ones might potentially deviate the individual's focus from the true purpose the emergency fund was initially meant to serve which could potentially result to a financial mistake.
But ultimately, the key remains to strike a balance between Building wealth through investing in Bitcoin and simultaneously maintaining a safety net that'll help mitigate potential risks.
It's also very crucial to acknowledge the fact that the priorities and financial situations of every investor is capable of changing overtime, and in such a case, it's important for their back up strategy to also be flexible enough to also adapt to those changes accordingly. By regularly reviewing and adjusting (when necessary) their emergency funds and reserve funds allocation, it'll be easier for investors to adequately prepare themselves for unexpected events while also pursuing their long term financial goals.

[Yoona_As]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

You said that even if people with fixed income invest, they will fail to do so in the long run, in that case I disagree with you, if you have a fixed income then he knows how much money he will get every month and you can set aside a small part of that amount for investment, you don't have to own a lot of assets to invest, you can start small, you can use the DCA strategy because through this you can invest in Bitcoin regularly or monthly, no matter what the price of Bitcoin is, the more consistently you buy Bitcoin, because it will help to grow your wealth and strengthen your investment.

[Silikiem]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

You said that even if people with fixed income invest, they will fail to do so in the long run, in that case I disagree with you, if you have a fixed income then he knows how much money he will get every month and you can set aside a small part of that amount for investment, you don't have to own a lot of assets to invest, you can start small, you can use the DCA strategy because through this you can invest in Bitcoin regularly or monthly, no matter what the price of Bitcoin is, the more consistently you buy Bitcoin, because it will help to grow your wealth and strengthen your investment.

I think you’re misquoting Loyang, and deviating from the point Loyang is trying to say because after I carefully read through loyangs post I think he’s actually stating the obvious fact based on the point I feel the  quote is trying to talk about. I think what Loyang is trying to say that is not good to take all your weekly or monthly earnings or income to  invest in bitcoin. For example if a person earns $100 as a fixed salary or income per week or month, that it’s advisable for the person not to take all the money to invest In bitcoin, because if that happens, the person will be in a serious financial crisis during his time of need to settle his other financial obligations and also when an emergency occurs, the person is likely to tend to his bitcoin holdings to sort out his financial obligations or during emergency situations. Instead, its  advisable that the individual should be able to first of all settle or sort his other financial obligations such as paying for his rent, and other bills etc, and whatever money that’s left (discretionary income) after settling all of this should be used to invest In bitcoin and also from there the individual can also build up an emergency funds in order to sustain or maintain his ongoing investment.

[ZeroVinsonN]

So many people focus so much on having a stable income but forget the importance of actually managing that income wisely , discretionary income is really the game changer for any kind of investment , especially with something as volatile as Bitcoin . what real happened to cold joker is a real lesson to very one without an emergency fund you are forced to liquidate investments at the most possible time it is not just about how much you earn , it is about how well you plan for the unexpected.

Good financial management skills have always been and will always be fundamental to success in bitcoin investment, an investor needs discretionary funds to invest in bitcoin but poor management of the investor's finance can make it difficult and sometimes even impossible for them to invest, you income might be good and might even come at a regular interval but due to poor spending skills you could still be left with nothing at the end of the day, sometimes debt might have even been incurred before the next pay arrives, this completely cancels out any chance of any discretionary income coming in, which also makes bitcoin investment impossible.
Good management of finance is needed if bitcoin investment is the goal, if an investor can't manage their finances, they won't be able to manage their bitcoin.

[Cgrexp]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

By fixed income we mean a predetermined and regular source of income. For example, a monthly salary from a job, or the money we earn at regular intervals. Most people have a fixed income. They save and invest based on a fixed income. Fixed income is positive for investing, this is not a problem. However, there may be some reasons why a fixed income is not sustainable, such as: The money earned from the fixed income is not left after spending. That is, not having money left after spending is the main obstacle in the way of investment. In my opinion, the real challenge is the income-expenditure ratio. If someone earns $1000 from a fixed income every month and he can keep $200 left after meeting all his expenses, emergency fund, needs. Then this $200 can be his investment capital. But if he spends the entire amount of his income, then he will have no money left to invest. On the other hand, if someone earns twice as much money and spends it all, he will have nothing. The saying that 'fixed income' is not sustainable is only logical when someone does not manage his money properly.  In my opinion, the sustainability of an investment depends on financial discipline and the individual's perspective, not on the type of income. So, regardless of the type of income, if there is no proper financial habits, then the investment is not sustainable. With proper discipline and planning, long-term investments can be built even from limited or fixed income.

[Futurexxx]

So many people focus so much on having a stable income but forget the importance of actually managing that income wisely , discretionary income is really the game changer for any kind of investment , especially with something as volatile as Bitcoin . what real happened to cold joker is a real lesson to very one without an emergency fund you are forced to liquidate investments at the most possible time it is not just about how much you earn , it is about how well you plan for the unexpected.

Good financial management skills have always been and will always be fundamental to success in bitcoin investment, an investor needs discretionary funds to invest in bitcoin but poor management of the investor's finance can make it difficult and sometimes even impossible for them to invest, you income might be good and might even come at a regular interval but due to poor spending skills you could still be left with nothing at the end of the day, sometimes debt might have even been incurred before the next pay arrives, this completely cancels out any chance of any discretionary income coming in, which also makes bitcoin investment impossible.
Good management of finance is needed if bitcoin investment is the goal, if an investor can't manage their finances, they won't be able to manage their bitcoin.

You are right buddy and I also share the same sentiment as you, bad or poor financial planning will always results in financial set back, and just as you have said, it might even compel you to borrow money just to meet up for your basic needs which automatically puts you in deep shit where you wouldn't even be thinking of investing because you have already spent practically half of your income before it arrives, so it's impossible to have a discretionary income in that state, so a good management skills is greatly needed if you want to be successful in your Bitcoin accumulation and investment journey.
Additionally, another thing that is greatly needed is discipline and consistency, without discipline and consistency it would be near impossible for a Bitcoin investor to go far in his accumulation and his investment journey.

[Jostern]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

You said that even if people with fixed income invest, they will fail to do so in the long run, in that case I disagree with you, if you have a fixed income then he knows how much money he will get every month and you can set aside a small part of that amount for investment, you don't have to own a lot of assets to invest, you can start small, you can use the DCA strategy because through this you can invest in Bitcoin regularly or monthly, no matter what the price of Bitcoin is, the more consistently you buy Bitcoin, because it will help to grow your wealth and strengthen your investment.

Well I think it’s all about Financial strategy, I really do not know how possible it will be for someone who have a fixed income not to be able to accumulate much bitcoin if that is what is being said then I must say it’s actually not true and I agree with you, Bitcoin investment depends on our amount of discretionary income and if we’re able to accumulate a good number of Bitcoin it will depend on our level of discretionary income available, and it’s better to start investing little by little and fraction by fraction, assuming that we’ve a plan of 10$ on a weekly basis or monthly basis depending on when we have a discretionary income which I think that is a good idea of starting, and that will definitely not stop us from increasing our finance in due time to have more discretionary income, I absolutely think starting little by little is more better than not starting and thinking of having a more sustainable bitcoin portfolio, as an investor we can also have to adjust our financial buoyancy and our lifestyle to be able to have more discretionary amounts to enable us to buy and accumulate more bitcoin into our portfolio.

[Cgrexp]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

You said that even if people with fixed income invest, they will fail to do so in the long run, in that case I disagree with you, if you have a fixed income then he knows how much money he will get every month and you can set aside a small part of that amount for investment, you don't have to own a lot of assets to invest, you can start small, you can use the DCA strategy because through this you can invest in Bitcoin regularly or monthly, no matter what the price of Bitcoin is, the more consistently you buy Bitcoin, because it will help to grow your wealth and strengthen your investment.

I agree with this, if there is a plan and discipline, long-term investment is possible and can be sustainable even with fixed income. If someone's monthly income is $500, he can invest at least $20-$30 after covering all expenses. In the DCA method, no matter what the price, if he continues to invest a certain amount regularly for five years, it will turn into a large number. Which is possible only through fixed income. There are many investors who have started with small amounts and have been successful consistently. The key to investing is discipline and consistency. If you start with a very small portion of fixed income, it will turn into a significant asset over time.

[Tamaperdana]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

You said that even if people with fixed income invest, they will fail to do so in the long run, in that case I disagree with you, if you have a fixed income then he knows how much money he will get every month and you can set aside a small part of that amount for investment, you don't have to own a lot of assets to invest, you can start small, you can use the DCA strategy because through this you can invest in Bitcoin regularly or monthly, no matter what the price of Bitcoin is, the more consistently you buy Bitcoin, because it will help to grow your wealth and strengthen your investment.

I don't think we need to complicate this issue, because basically, if we don't have a steady income, how can we have discretionary funds? Discretionary funds exist and we can have them because we have a steady income. So, the point is, we should not consider a steady income to be unimportant. Because basically, it is from a steady income that we can have discretionary funds and also emergency funds. So for those who say that a steady income isn’t important, I think they need to rethink their position. Because in the realm of investment, such as with Bitcoin, we need to think realistically. So let’s not get the wrong idea about this. Because the consequences will be very severe if we misunderstand our own cash flow.

[Baki202]

So many people focus so much on having a stable income but forget the importance of actually managing that income wisely , discretionary income is really the game changer for any kind of investment , especially with something as volatile as Bitcoin . what real happened to cold joker is a real lesson to very one without an emergency fund you are forced to liquidate investments at the most possible time it is not just about how much you earn , it is about how well you plan for the unexpected.

Good financial management skills have always been and will always be fundamental to success in bitcoin investment, an investor needs discretionary funds to invest in bitcoin but poor management of the investor's finance can make it difficult and sometimes even impossible for them to invest, you income might be good and might even come at a regular interval but due to poor spending skills you could still be left with nothing at the end of the day, sometimes debt might have even been incurred before the next pay arrives, this completely cancels out any chance of any discretionary income coming in, which also makes bitcoin investment impossible.
Good management of finance is needed if bitcoin investment is the goal, if an investor can't manage their finances, they won't be able to manage their bitcoin.

And when you have good management skills, then it becomes easier to manage your assets because when you invest in Bitcoin, it becomes easy to manage your funds because emergency funds are part of management skills, it makes you want to focus more on the investment, and it is underestimated. And another important thing is going to be having a source of income, because having a source of income and when you have source of income then DCA becomes easier to implement. And even if there is no source of income, just that will make it very difficult, and there won't be consistency, and investing money will make  it slower to accomplish your goal, and people will eventually understand the importance of having money coming in to invest, so investing needs a lot of commitment.

[Silikiem]

An emergency fund should be considered essential by anyone considering long-term Bitcoin investment and not wanting to disrupt their Bitcoin balance every time they need cash. However, I recommend everyone have a steady job with a regular income stream so they can manage it carefully, including allocating a portion of their income to an emergency fund and using the rest as capital to buy Bitcoin.

To invest or create an emergency fund, we need a source of discretionary income. If you do it with your fixed income source, it may not be very sustainable. For example,

*Discretionary income is the amount of money left over from your fixed income after deducting all expenses. It is better to invest with discretionary income because you do not need this amount of money very much. The money that is left after meeting all your expenses is discretionary money. If you invest with discretionary income, it becomes much easier for you to maintain it in the long term.

If you do not have an emergency fund, you can create it along with your investments. You can keep some money aside for an emergency fund from the amount of money you wanted to invest from your discretionary income. If you do not have an emergency fund, you can do emergency fund and investment at the same time.

If you invest with fixed income, you may not be able to maintain your investments in the long term. For example, if you need the money, you will have to sell your holdings. So you should invest with discretionary income.

You said that even if people with fixed income invest, they will fail to do so in the long run, in that case I disagree with you, if you have a fixed income then he knows how much money he will get every month and you can set aside a small part of that amount for investment, you don't have to own a lot of assets to invest, you can start small, you can use the DCA strategy because through this you can invest in Bitcoin regularly or monthly, no matter what the price of Bitcoin is, the more consistently you buy Bitcoin, because it will help to grow your wealth and strengthen your investment.

I don't think we need to complicate this issue, because basically, if we don't have a steady income, how can we have discretionary funds? Discretionary funds exist and we can have them because we have a steady income. So, the point is, we should not consider a steady income to be unimportant. Because basically, it is from a steady income that we can have discretionary funds and also emergency funds. So for those who say that a steady income isn’t important, I think they need to rethink their position. Because in the realm of investment, such as with Bitcoin, we need to think realistically. So let’s not get the wrong idea about this. Because the consequences will be very severe if we misunderstand our own cash flow.

No one is saying that a steady income is not good, what they’re only trying to let you know is that not having a steady income doesn’t mean you can’t invest in bitcoin, and also a steady income flow isn’t the benchmark to invest in bitcoin, rather it’s just your discretionary income that’s needed . You just need a discretionary income to be able to invest and accumulate bitcoin. It mustn’t flow steadily, because most people don’t even have a steady income flow or should I say they are not permanently employed to a company or institution where they are being paid steadily either on weekly or monthly basis, but rather they are contractors whose income flows only when they are able to hit or finish a particular contract, and after they might have gotten a particular contract and are able to finished working on the contract and got paid, it may also take them some few months times or even years before they could hit another contract, you can’t say that such persons have a steady income flow but the most important thing is that they have a source of being able to figure out their discretionary income to invest in bitcoin whenever they successfully get and complete a particular contract. The goal is to be able to figure out a discretionary income to invest and accumulate bitcoin and hodl for the long term, no matter how seldom your income flows as far as once in a while you’re able to figure out a discretionary income to accumulate and add to your ongoing bitcoin holdings and also hodl for the long term, and gradually build up your portfolio to meet your investment or accumulation targets.

[Finebone]

And when you have good management skills, then it becomes easier to manage your assets because when you invest in Bitcoin, it becomes easy to manage your funds because emergency funds are part of management skills, it makes you want to focus more on the investment, and it is underestimated. And another important thing is going to be having a source of income, because having a source of income and when you have source of income then DCA becomes easier to implement. And even if there is no source of income, just that will make it very difficult, and there won't be consistency, and investing money will make  it slower to accomplish your goal, and people will eventually understand the importance of having money coming in to invest, so investing needs a lot of commitment.

I will only be talking about the highlighted words, when investing into Bitcoin, for consistency of your accumulation, discretionary income is greatly needed, not source of income as you claim, because their are so many folks out there that have a source of income but still can't figure out their discretionary income, so the ideal word you should be using when talking about accumulating consistency is discretionary income not source of income.

[EL MOHA]

Frequently, I suggest that 3 months minimum is the target Emergency funds level that we should strive to reach, even though I also suggest that it could take some guys quite a bit of time to reach such 3 month target levels (maybe a year or two), especially when he is first building up his bitcoin investment.. so in those circumstances, he might be building up his bitcoin investment and his emergency funds at the same time.... and then once each of them has reached 3 months of expenses, then perhaps at that time such guys might start to invest into our bitcoin more aggressively, even though surely some guys might also want to continue to build their back up funds beyond 3 months, which would be reserve funds and have more flexibility in how reserve funds are used... So there are ideal standards and there may well be things that guys might choose to do in regards to both how much back up funds that they keep at any particular time. which their own income and expense circumstances can justify how they keep their various back up funds and for what purposes they might designate the tapping into such back up funds and/or the building back up of such back up funds after they have been tapped into.

Three months or more is definitely good number for emergency funds, one thing people need to understand is we cannot have a perfect emergency funds saved because there are some emergency situations that will eat up even a one year emergency fund budget, hopefully we just don’t get cut up in it. So trying to have a perfect emergency fund will definitely be almost impossible so trying to keep excess emergency funds will just be taking way too much time for accumulation of bitcoin so for me I agree with the threshold of three months to six months and while doing that little amount should surely be getting into bitcoin too. Because one of the most obvious mistakes we make today is that we keep hold of purchasing bitcoin while trying to have everything perfect first before buying and this actually makes one to miss out on some good buying opportunities. Investment in bitcoin can be gradual just like one taking off negligible amount from his income to keep for his pension I think such can be done for bitcoin too pending when the time for aggressive accumulation will come.

I will only be talking about the highlighted words, when investing into Bitcoin, for consistency of your accumulation, discretionary income is greatly needed, not source of income as you claim, because their are so many folks out there that have a source of income but still can't figure out their discretionary income, so the ideal word you should be using when talking about consistency is discretionary income not source of income.

Income or no income with ever growing responsibility that we shoulder today most especially with the our money losing purchasing power we will definitely never be free to say this is the perfect time to invest into bitcoin. You don’t necessarily need to have permanent source of income to start investing into bitcoin, any form of income even if it is not constant one should actually take some out after clearing the major needs to invest it into bitcoin. It all boils down to what extra wants we can actually sacrifice to use the money meant for it to buy bitcoin. Many think this is only possible with having a permanent source of income but it is not.

[Yoona_As]

Buying at a low price is a very good choice and a good move. But it is not at all advisable to set a time limit for it. If you ever get an opportunity to buy at a low price or buy DIP while maintaining the continuity of your investment, then it is definitely a good move to take that opportunity. But when you stop the continuity of your investment and wait for the market or DIP, it will be a completely inappropriate thing. In this, you will only delay your investment and remove yourself from the investment journey. You will even continue to suffer financially. So give more importance to maintaining continuity in your investment and take the opportunity to buy DIP if you get it. Never wait for a specific time.

This is why DCA is always the best way. No point waiting for the right time to buy, because you might never get the right time you seek. When BTC was 114k recently, imagine waiting for it to dip further before you buy, but it never does. That means you've missed out on the opportunity.
I am not one of those who feels he has to wait for a dip before he buys. Don't get me wrong, if it dips and I have money, I'll buy the dip, but I also buy whenever I have money to buy, dip or not. If I were only waiting for the dip, and it doesn't come, I'll use the money for something else, which is an even worse scenario than buying bitcoin at an" expensive" price.

Yes, it is true that it is almost impossible to determine the price of Bitcoin, there is no specific or exact time to invest in Bitcoin or there is no guarantee that you will make a profit if you invest at that time, but if you are not a short-term investor, then it will work very well for you because Bitcoin has the potential to be highly profitable if you do it in the long term, that is why you use the DCA strategy and in this you can regularly invest in small amounts of Bitcoin which if continued for a long time for 6-7 years, you will be able to strengthen your investment, this small step of yours will also take a big shape one day, Bitcoin has a limited supply and its demand is also increasing day by day, on the other hand, Bitcoin has a bright future, if you consider the history of Bitcoin, then you see that those who have been patient and held it for a long time have now made a profit and have been able to increase their wealth several times, so instead of spending your valuable time to invest, invest in Bitcoin with your discretionary income and complete the long term.

[Kelward]

So many people focus so much on having a stable income but forget the importance of actually managing that income wisely , discretionary income is really the game changer for any kind of investment , especially with something as volatile as Bitcoin . what real happened to cold joker is a real lesson to very one without an emergency fund you are forced to liquidate investments at the most possible time it is not just about how much you earn , it is about how well you plan for the unexpected.

If a person can't manage their income well, they can't make the right investments either. It's important to keep good track of income and expenses, calculate how much money to set aside for investment and buy the right assets at the right price. Many people, despite having a high income, can't allocate money for investments because they can't reduce their expenses and spend money on unnecessary things. Those who maintain a balanced income-expense ratio can purchase Bitcoin as they wish. They can set aside money every day/week or as soon as their salary arrives to make Bitcoin investments. However, those who can't control their expenses can't make investments nor hold onto their investments for the long term.

Financial management is key for anybody that wants to succeed in Bitcoin investment, especially when you're not very rich. You must make budget for your income if you must achieve your goal of long term investment otherwise you can get carried away with unnecessary spendings then forget things that are important. It is worthy to note that you need to make provision for secondary expenses which is discretionary funds so that you can channel funds that don't fall into basic needs to that purse. That is where funds to buy Bitcoin comes out from and if you choose the DCA strategy to buy Bitcoin you can succeed by constantly buying and hodl for the long term.

A stumbling block to DCA strategy is if you lose your source of income or inflation hits your local currency while your income is still stagnant. To be consistent in Bitcoin investment for the long term you need to always think outside the box on how to increase your total income. Bitcoin going concern is money, if you don't have money to buy, your DCA strategy will pause or cease.

[Bluedrem]

I agree with this, if there is a plan and discipline, long-term investment is possible and can be sustainable even with fixed income. If someone's monthly income is $500, he can invest at least $20-$30 after covering all expenses. In the DCA method, no matter what the price, if he continues to invest a certain amount regularly for five years, it will turn into a large number. Which is possible only through fixed income. There are many investors who have started with small amounts and have been successful consistently. The key to investing is discipline and consistency. If you start with a very small portion of fixed income, it will turn into a significant asset over time.

Only an investor with a fixed income can invest in Bitcoin.
An investor must have a discretionary income to invest in Bitcoin.
Without discretionary income, if an investor invests with the income that meets his basic needs or with the emergency fund or the money provided in the emergency fund, that investment will not be sustainable because he will need money for various needs and he will be forced to sell the Bitcoins kept in his portfolio to meet the shortfall in that money.

Therefore, for investment, a discretionary income is needed that will come after a person's basic needs are met.
When a person invests in Bitcoin after meeting his basic needs and emergency fund, his portfolio will be much more sustainable.