Buy the DIP, and HODL!

[ruykeri]

Emergency funds is very much important for the survival of your bitcoin investment, so in a situation where you are just starting from the scratch, it is best to build your Bitcoin portfolio and your emergency funds together, but once you notice that your emergency funds is big enough to sustain all your financial needs for the next three months, you can stop adding to it and start investing aggressively in Bitcoin because by then, you now have the full financial backings of your emergency funds to go all the way in your investment, so what am trying to say is that a proper money management skills is greatly needed if you want to be successful in your Bitcoin investment.

Emergency funds are certainly necessary to insure against financial issues you may NOT KNOW ABOUT, but unless you spend the major part of your money there and invest very little your bank account will look very little bigger in terms of Bitcoins. A good balance would be to start out aggressively with your investment, and yet saving concurrently a little in case of emergency. As soon as your emergency fund is sufficient to sustain you a couple of months, you will be back to placing more emphasis on aggressive investing. It simply comes to proper management of money and prioritizing when to change priorities. Lacking the balance, one can either take excessive risks or lose on possible growth.

I would like to add another thing to your words, that is, along with the emergency fund, a reserve fund should also be kept. And how aggressively one invests in the beginning depends on the person's wishes. If his monthly income is $1500 and his discretionary income is $500, then he can invest $200 in btc  if he wants. He may keep saving $200 to create an emergency fund and reserve fund. And he can spend $100 as he wishes. Because in society, one has to be with his family and take part in many social and family activities. In this way, he can form a reserve fund, emergency fund.

[Jaksonhard]

Of course, it is important to know when one has an emergency before saving Bitcoin. This should be at least 6-7 months of his necessary expenses in the emergency fund. Yes, you are right, he can save some amount of Bitcoin every month until he accumulates his emergency fund. Which he will gradually accumulate his emergency fund and start saving Bitcoin with it.

There is no guarantee that an emergency will not come, when he invests some amount of money in Bitcoin, if at that time he needs money in an emergency, he can spend the money in his emergency fund, which will not put any pressure on his Bitcoin investment.

You will only allocate emergency funds for Bitcoin investment, despite having an emergency fund, you will have to increase your source of income. If you are in a working situation, you can work hard to earn more money so that you can add more money to your investment every week, but there are some other ways that you can follow to help you increase your money and if you have bad habits, you can abandon them. Because bad habits only waste money, that's why I say abandon bad habits because you can save some money from there and connect it to Bitcoin investment.
It will only depend on you how to increase your Bitcoin investment, these strategies must be known and saved for a long time, so it is most important to have a plan. Remember that nothing reaches its destination without a plan.

What you said is true, but I am not in any bad habit that can waste my money. Yes, it is true that I sometimes gamble which I find enjoyable. But I try to invest in Bitcoin along with some of my recent life savings which I have created as a fund. I deposit some amount of money from the amount of salary I get every month in that fund and with some amount I continue to invest in Bitcoin, with the remaining amount I have, I try to meet the maximum needs of my life. But yes, this option is good that we will deposit some amount of money from our weekly or monthly income in Bitcoin and along with this we should keep some emergency savings, because at any time we may need urgent money for which it is very important to have an emergency fund.

[bitcoin_mining]

Emergency funds is very much important for the survival of your bitcoin investment, so in a situation where you are just starting from the scratch, it is best to build your Bitcoin portfolio and your emergency funds together, but once you notice that your emergency funds is big enough to sustain all your financial needs for the next three months, you can stop adding to it and start investing aggressively in Bitcoin because by then, you now have the full financial backings of your emergency funds to go all the way in your investment, so what am trying to say is that a proper money management skills is greatly needed if you want to be successful in your Bitcoin investment.

Emergency funds are certainly necessary to insure against financial issues you may NOT KNOW ABOUT, but unless you spend the major part of your money there and invest very little your bank account will look very little bigger in terms of Bitcoins. A good balance would be to start out aggressively with your investment, and yet saving concurrently a little in case of emergency. As soon as your emergency fund is sufficient to sustain you a couple of months, you will be back to placing more emphasis on aggressive investing. It simply comes to proper management of money and prioritizing when to change priorities. Lacking the balance, one can either take excessive risks or lose on possible growth.

I would like to add another thing to your words, that is, along with the emergency fund, a reserve fund should also be kept. And how aggressively one invests in the beginning depends on the person's wishes. If his monthly income is $1500 and his discretionary income is $500, then he can invest $200 in btc  if he wants. He may keep saving $200 to create an emergency fund and reserve fund. And he can spend $100 as he wishes. Because in society, one has to be with his family and take part in many social and family activities. In this way, he can form a reserve fund, emergency fund.

Yes, I know that an emergency fund is very important for the security of investment. It is also important for an investor to have a fund ready so that there is no bad impact on the investment after starting the investment and so that the investor never has to sell his investment due to financial problems. However, it is not possible for all categories of investors to invest continuously after doing so. Suppose a person is earning $150 to $200 a month and he is trying to invest continuously even after earning this amount of money per month, although his investment amount will be small. When this investor meets all the needs of his family and invests some amount of money in Bitcoin, then he will not have the remaining amount to make an emergency fund or save. Making an emergency fund depends on the income of a person.

If a person has a high income and if he can make an emergency fund and a separate fund, it will protect his investment, but if a person with a low income cannot do this, then he has nothing to be disappointed. I think he should be more focused on Bitcoin investment.

[kanftka]

A balanced approach is buy small amounts of Bitcoin early, build the fund in parallel, and never dip into it for investments... that keeps you both protected and invested.

most of the investors that sells when they are in tight situations likely went in too aggressively hoping for fast returns without setting up good systems on ground and when an emergency comes up, they discover that the only place to fall back to is to offset part of their asset as a means of solving those needs. as long as life is concerned, emergency must always come, the only thing that shields us at such time is when we have made adiquate provision for it.

Yeah, I think that is one of the silent killers of a lot of people’s Bitcoin journey, going in too heavy without thinking about life outside the investment… The truth is, if you throw in more than you can afford to leave untouched for years, you have basically set yourself up for a panic sell the moment life punches you in the gut. And life does not give you a calendar invite before it happens hahaha…. 

The thing is, Bitcoin is not some get in now, cash out next month type of play… It works best when you can sit through several cycles without touching it… But when someone has no buffer, no emergency savings, and they have overextended, they are almost guaranteed to pull the plug early, often at the worst possible price…. That is why I have always believed it is good to be intentional about balancing your financial foundation in as much as you are going hard on stacking bitcoin…

It’s not even about being overly conservative, it is about giving your investment the space and time to grow without the pressure of having to liquidate it just to keep up with real life demands… The irony is, the same patience and discipline that builds a solid Bitcoin position are the same traits that keep you from destroying it when things get rough…

Anyway what I was talking about was not only emphasizing on the emergency fund but how emergency fund is gotten from, according to  pjcr7 he was talking about emergency fund to be a fund that will be kept when we have surplus money and this surplus money is coming from our source of income, and now my explanation is not only talking about emergency fund but talking about us not needing to have a specific amount amount that will be surplus before keeping emergency fund. When I am talking about not being specific, I am not talking about emergency fund not being specific but not needing to have a particular amount or source of income before setting aside emergency. Aside that even if I decided to say that emergency fund is not specific I may not be wrong neither because apart from knowing that emergency fund is meant for emergency, does it have specific circumstances? No. No one knows the type of emergency that will happen and what it will look like, meaning it has no specific, it is a fund kept for the unknown or for an unforseen circumstances which is likely not specific. So I dont have problem about you disagreeing with me or not, since everyone opinion is welcome including the ones that are not relevant.

Most Bitcoin Investors don't know how important emergency funds is to the survival of their holdings, they thought that their investment can survive without it, not knowing that not having it in place when calamity struck, can makes your Bitcoin holdings be used as a sacrificial lamb because you fail to do the needful.

You kw, I will strongly advise that as a Bitcoin investor, especially the on who has the leverage of building emergency funds, jumping in thinking their BTC stacking alone will carry you through everything is unwise, bcus that is just not how real life works. Emergencies don’t care about your investment plans, bills pile up, unexpected expenses and alll.. and if you haven’t set aside a proper emergency fund, you will almost be forced to sell your Bitcoin at the worst possible time…

So many people get wrecked because they did not build that safety net first… It is like trying to swim without a life jacket, eventually, the waves get too rough. Having an emergency fund isn’t about being weak or scared, it is about protecting your future self and your long term goals. When you have that buffer, you can hold your Bitcoin without constantly worrying about what if, and that is when the real thing of holding starts to show….

Honestly, if you want to play the long game with Bitcoin, you gotta have your financial house in order, it is important.. Otherwise, no matter how strong your conviction is, life will find a way to test it, and you don’t want to fail that test just because you didn’t prepare….

[Gost ms]

A balanced approach is buy small amounts of Bitcoin early, build the fund in parallel, and never dip into it for investments... that keeps you both protected and invested.

most of the investors that sells when they are in tight situations likely went in too aggressively hoping for fast returns without setting up good systems on ground and when an emergency comes up, they discover that the only place to fall back to is to offset part of their asset as a means of solving those needs. as long as life is concerned, emergency must always come, the only thing that shields us at such time is when we have made adiquate provision for it.

Yeah, I think that is one of the silent killers of a lot of people’s Bitcoin journey, going in too heavy without thinking about life outside the investment… The truth is, if you throw in more than you can afford to leave untouched for years, you have basically set yourself up for a panic sell the moment life punches you in the gut. And life does not give you a calendar invite before it happens hahaha…. 

The thing is, Bitcoin is not some get in now, cash out next month type of play… It works best when you can sit through several cycles without touching it… But when someone has no buffer, no emergency savings, and they have overextended, they are almost guaranteed to pull the plug early, often at the worst possible price…. That is why I have always believed it is good to be intentional about balancing your financial foundation in as much as you are going hard on stacking bitcoin…

It’s not even about being overly conservative, it is about giving your investment the space and time to grow without the pressure of having to liquidate it just to keep up with real life demands… The irony is, the same patience and discipline that builds a solid Bitcoin position are the same traits that keep you from destroying it when things get rough…

Anyway what I was talking about was not only emphasizing on the emergency fund but how emergency fund is gotten from, according to  pjcr7 he was talking about emergency fund to be a fund that will be kept when we have surplus money and this surplus money is coming from our source of income, and now my explanation is not only talking about emergency fund but talking about us not needing to have a specific amount amount that will be surplus before keeping emergency fund. When I am talking about not being specific, I am not talking about emergency fund not being specific but not needing to have a particular amount or source of income before setting aside emergency. Aside that even if I decided to say that emergency fund is not specific I may not be wrong neither because apart from knowing that emergency fund is meant for emergency, does it have specific circumstances? No. No one knows the type of emergency that will happen and what it will look like, meaning it has no specific, it is a fund kept for the unknown or for an unforseen circumstances which is likely not specific. So I dont have problem about you disagreeing with me or not, since everyone opinion is welcome including the ones that are not relevant.

Most Bitcoin Investors don't know how important emergency funds is to the survival of their holdings, they thought that their investment can survive without it, not knowing that not having it in place when calamity struck, can makes your Bitcoin holdings be used as a sacrificial lamb because you fail to do the needful.

You kw, I will strongly advise that as a Bitcoin investor, especially the on who has the leverage of building emergency funds, jumping in thinking their BTC stacking alone will carry you through everything is unwise, bcus that is just not how real life works. Emergencies don’t care about your investment plans, bills pile up, unexpected expenses and alll.. and if you haven’t set aside a proper emergency fund, you will almost be forced to sell your Bitcoin at the worst possible time…

So many people get wrecked because they did not build that safety net first… It is like trying to swim without a life jacket, eventually, the waves get too rough. Having an emergency fund isn’t about being weak or scared, it is about protecting your future self and your long term goals. When you have that buffer, you can hold your Bitcoin without constantly worrying about what if, and that is when the real thing of holding starts to show….

Honestly, if you want to play the long game with Bitcoin, you gotta have your financial house in order, it is important.. Otherwise, no matter how strong your conviction is, life will find a way to test it, and you don’t want to fail that test just because you didn’t prepare….

Your comment seems to suggest that we need to build an emergency fund before we start investing. Waiting to build an emergency fund before starting investing is not the right decision.

As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing, it will not be the right approach at all. You can build an emergency fund along with investing. This will keep your investments running and your emergency fund will be built. For example, you can build an emergency fund with 50% of the amount you are willing to invest and invest with 50%. In this way, you will not miss out on buying opportunities and you will be much ahead of your portfolio goals. It will be good to build an emergency fund along with investing.

[Jaksonhard]

A balanced approach is buy small amounts of Bitcoin early, build the fund in parallel, and never dip into it for investments... that keeps you both protected and invested.

most of the investors that sells when they are in tight situations likely went in too aggressively hoping for fast returns without setting up good systems on ground and when an emergency comes up, they discover that the only place to fall back to is to offset part of their asset as a means of solving those needs. as long as life is concerned, emergency must always come, the only thing that shields us at such time is when we have made adiquate provision for it.

Yeah, I think that is one of the silent killers of a lot of people’s Bitcoin journey, going in too heavy without thinking about life outside the investment… The truth is, if you throw in more than you can afford to leave untouched for years, you have basically set yourself up for a panic sell the moment life punches you in the gut. And life does not give you a calendar invite before it happens hahaha…. 

The thing is, Bitcoin is not some get in now, cash out next month type of play… It works best when you can sit through several cycles without touching it… But when someone has no buffer, no emergency savings, and they have overextended, they are almost guaranteed to pull the plug early, often at the worst possible price…. That is why I have always believed it is good to be intentional about balancing your financial foundation in as much as you are going hard on stacking bitcoin…

It’s not even about being overly conservative, it is about giving your investment the space and time to grow without the pressure of having to liquidate it just to keep up with real life demands… The irony is, the same patience and discipline that builds a solid Bitcoin position are the same traits that keep you from destroying it when things get rough…

Anyway what I was talking about was not only emphasizing on the emergency fund but how emergency fund is gotten from, according to  pjcr7 he was talking about emergency fund to be a fund that will be kept when we have surplus money and this surplus money is coming from our source of income, and now my explanation is not only talking about emergency fund but talking about us not needing to have a specific amount amount that will be surplus before keeping emergency fund. When I am talking about not being specific, I am not talking about emergency fund not being specific but not needing to have a particular amount or source of income before setting aside emergency. Aside that even if I decided to say that emergency fund is not specific I may not be wrong neither because apart from knowing that emergency fund is meant for emergency, does it have specific circumstances? No. No one knows the type of emergency that will happen and what it will look like, meaning it has no specific, it is a fund kept for the unknown or for an unforseen circumstances which is likely not specific. So I dont have problem about you disagreeing with me or not, since everyone opinion is welcome including the ones that are not relevant.

Most Bitcoin Investors don't know how important emergency funds is to the survival of their holdings, they thought that their investment can survive without it, not knowing that not having it in place when calamity struck, can makes your Bitcoin holdings be used as a sacrificial lamb because you fail to do the needful.

You kw, I will strongly advise that as a Bitcoin investor, especially the on who has the leverage of building emergency funds, jumping in thinking their BTC stacking alone will carry you through everything is unwise, bcus that is just not how real life works. Emergencies don’t care about your investment plans, bills pile up, unexpected expenses and alll.. and if you haven’t set aside a proper emergency fund, you will almost be forced to sell your Bitcoin at the worst possible time…

So many people get wrecked because they did not build that safety net first… It is like trying to swim without a life jacket, eventually, the waves get too rough. Having an emergency fund isn’t about being weak or scared, it is about protecting your future self and your long term goals. When you have that buffer, you can hold your Bitcoin without constantly worrying about what if, and that is when the real thing of holding starts to show….

Honestly, if you want to play the long game with Bitcoin, you gotta have your financial house in order, it is important.. Otherwise, no matter how strong your conviction is, life will find a way to test it, and you don’t want to fail that test just because you didn’t prepare….

Your comment seems to suggest that we need to build an emergency fund before we start investing. Waiting to build an emergency fund before starting investing is not the right decision.

As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing, it will not be the right approach at all. You can build an emergency fund along with investing. This will keep your investments running and your emergency fund will be built. For example, you can build an emergency fund with 50% of the amount you are willing to invest and invest with 50%. In this way, you will not miss out on buying opportunities and you will be much ahead of your portfolio goals. It will be good to build an emergency fund along with investing.

It is very important for an investor to save money in his emergency fund. Because he may need it at any time or he may use it for some special purpose so that he does not have to sell his Bitcoin. Just as you gave the example, someone who cannot swim in water needs a life jacket so that he can float easily on the water and it acts as a support for him, similarly it is a wise thing for an investor to save money in his emergency fund to get support in times of emergency.

Yes it is true that you should not wait to invest in your emergency fund, because until he has some amount of money in his emergency fund, his investment may be stopped. So this is an easy way that he needs to save money in his emergency fund as soon as he continues to invest. Generally speaking, if his monthly income is $500, he can save $200 from there in his emergency fund and the remaining $200 he can buy Bitcoin and with the remaining $100 he can spend on his family needs or his own desires.  It's a good idea to keep his investments running and to be able to deposit money into his fund.

[Regardme]

A balanced approach is buy small amounts of Bitcoin early, build the fund in parallel, and never dip into it for investments... that keeps you both protected and invested.

most of the investors that sells when they are in tight situations likely went in too aggressively hoping for fast returns without setting up good systems on ground and when an emergency comes up, they discover that the only place to fall back to is to offset part of their asset as a means of solving those needs. as long as life is concerned, emergency must always come, the only thing that shields us at such time is when we have made adiquate provision for it.

Yeah, I think that is one of the silent killers of a lot of people’s Bitcoin journey, going in too heavy without thinking about life outside the investment… The truth is, if you throw in more than you can afford to leave untouched for years, you have basically set yourself up for a panic sell the moment life punches you in the gut. And life does not give you a calendar invite before it happens hahaha…. 

The thing is, Bitcoin is not some get in now, cash out next month type of play… It works best when you can sit through several cycles without touching it… But when someone has no buffer, no emergency savings, and they have overextended, they are almost guaranteed to pull the plug early, often at the worst possible price…. That is why I have always believed it is good to be intentional about balancing your financial foundation in as much as you are going hard on stacking bitcoin…

It’s not even about being overly conservative, it is about giving your investment the space and time to grow without the pressure of having to liquidate it just to keep up with real life demands… The irony is, the same patience and discipline that builds a solid Bitcoin position are the same traits that keep you from destroying it when things get rough…

Anyway what I was talking about was not only emphasizing on the emergency fund but how emergency fund is gotten from, according to  pjcr7 he was talking about emergency fund to be a fund that will be kept when we have surplus money and this surplus money is coming from our source of income, and now my explanation is not only talking about emergency fund but talking about us not needing to have a specific amount amount that will be surplus before keeping emergency fund. When I am talking about not being specific, I am not talking about emergency fund not being specific but not needing to have a particular amount or source of income before setting aside emergency. Aside that even if I decided to say that emergency fund is not specific I may not be wrong neither because apart from knowing that emergency fund is meant for emergency, does it have specific circumstances? No. No one knows the type of emergency that will happen and what it will look like, meaning it has no specific, it is a fund kept for the unknown or for an unforseen circumstances which is likely not specific. So I dont have problem about you disagreeing with me or not, since everyone opinion is welcome including the ones that are not relevant.

Most Bitcoin Investors don't know how important emergency funds is to the survival of their holdings, they thought that their investment can survive without it, not knowing that not having it in place when calamity struck, can makes your Bitcoin holdings be used as a sacrificial lamb because you fail to do the needful.

You kw, I will strongly advise that as a Bitcoin investor, especially the on who has the leverage of building emergency funds, jumping in thinking their BTC stacking alone will carry you through everything is unwise, bcus that is just not how real life works. Emergencies don’t care about your investment plans, bills pile up, unexpected expenses and alll.. and if you haven’t set aside a proper emergency fund, you will almost be forced to sell your Bitcoin at the worst possible time…

So many people get wrecked because they did not build that safety net first… It is like trying to swim without a life jacket, eventually, the waves get too rough. Having an emergency fund isn’t about being weak or scared, it is about protecting your future self and your long term goals. When you have that buffer, you can hold your Bitcoin without constantly worrying about what if, and that is when the real thing of holding starts to show….

Honestly, if you want to play the long game with Bitcoin, you gotta have your financial house in order, it is important.. Otherwise, no matter how strong your conviction is, life will find a way to test it, and you don’t want to fail that test just because you didn’t prepare….

Building an emergency funds is necessary because that’s what’s gives your bitcoin investment and accumulation the edge to survive during some emergency situations. Many people who invest in bitcoin without an emergency funds tend to sell little portion of their bitcoin, if not all when emergencies arise. But if you’re trying to say that one must have to build a safety net first before investing in bitcoin, that is; having to stack up emergency funds firstly, then that approach is wrong. The most important thing to consider is having a discretionary funds to start investing in Bitcoin, and not emergency funds. You can start investing in bitcoin, then at same time start building your emergency funds. In some cases, most people might already have an emergency funds before starting their investment journey, while some people don’t. So prioritizing discretionary funds and emergency funds is very essential in order to have a successful long term plan in bitcoin accumulation.

[HustleZ]

As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing, it will not be the right approach at all. You can build an emergency fund along with investing. This will keep your investments running and your emergency fund will be built. For example, you can build an emergency fund with 50% of the amount you are willing to invest and invest with 50%. In this way, you will not miss out on buying opportunities and you will be much ahead of your portfolio goals. It will be good to build an emergency fund along with investing.

I see your point. It's a balanced approach between earning money and saving for emergency. But i think a person should have an aim of securing basic emergency fund before investing so that in future he can not be forced by the situations to sell off his investments in case of an emergency. Even a few months of saving for an emergency fund before investing can help one in not selling his investments. While your 50/50 approach can be beneficial I think it's more suitable for those who have stable income and higher risk tolerance.

[Cossyblack]

Yes it is true that you should not wait to invest in your emergency fund, because until he has some amount of money in his emergency fund, his investment may be stopped. investments running and to be able to deposit money into his fund.

It is wrong to start using your emergency funds to buy Bitcoin . Your emergency funds is  kept as a stronghold of defense and a safe haven  for your investments. It protects your investment from any unforseen occurrence that may likely happens in the future, although we don't plan for this things to happen but an emergency funds has to be kept as a strong backup in case of any real life emergencies. However what your investing on is Bitcoin and not your Emergency funds and reserve funds. Secondly what's is needed to invests in Bitcoin is your Discretional funds, Discretional funds is your extra cash after all  your necessities has been taken care .

[Jaksonhard]

Yes it is true that you should not wait to invest in your emergency fund, because until he has some amount of money in his emergency fund, his investment may be stopped. investments running and to be able to deposit money into his fund.

It is wrong to start using your emergency funds to buy Bitcoin . Your emergency funds is  kept as a stronghold of defense and a safe haven  for your investments. It protects your investment from any unforseen occurrence that may likely happens in the future, although we don't plan for this things to happen but an emergency funds has to be kept as a strong backup in case of any real life emergencies. However what your investing on is Bitcoin and not your Emergency funds and reserve funds. Secondly what's is needed to invests in Bitcoin is your Discretional funds, Discretional funds is your extra cash after all  your necessities has been taken care .

Okay mate, I understand your example, but what I mean is that if he waits to deposit money into his fund, his investing will be delayed. So if he starts saving Bitcoin along with depositing money into his fund, it would be very good for him. What I mean is that if he deposits some money into his fund and saves Bitcoin at the same time, his investing will continue and his fund will start accumulating money along with it.

[Barikui1]

Your comment seems to suggest that we need to build an emergency fund before we start investing. Waiting to build an emergency fund before starting investing is not the right decision.

As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing, it will not be the right approach at all. You can build an emergency fund along with investing. This will keep your investments running and your emergency fund will be built. For example, you can build an emergency fund with 50% of the amount you are willing to invest and invest with 50%. In this way, you will not miss out on buying opportunities and you will be much ahead of your portfolio goals. It will be good to build an emergency fund along with investing.

Yes, I totally agree with you here, the best you can do for safety purpose of your investment is to build your Bitcoin investment and your emergency funds together like 50/50 as you said, but once your emergency funds is big enough to cover up for your three month expenses and upkeep, you can take a break and channel all that energy in building your Bitcoin portfolio aggressively, by doing so your Bitcoin investment is secured from any unforseen emergencies that may have warrant you to temper with your investment.

Why most Investors mostly have problem is that their emergency funds is too weak to carry their Bitcoin investment, any emergency situation that stayed for an extended period of time will easily make them sell off their holdings or temper with it, so in other not to fall into such mess, is to build your emergency funds to the extent that it can carry all your financial burden for the next three months.

[Wind_FURY]

Even though the DCA strategy is the best strategy for Bitcoin, you cannot consider it the best strategy of all time because you have some of your own strategies that are completely different and innovative compared to this strategy. Regardless of the price this method is recommended for accumulating Bitcoin but during the continuous increase in price you should review the fact that this method increases/decreases the unit price as the holding increases in your portfolio and apply your own strategy accordingly. Therefore you need to apply some of your own strategies in terms of investment that will increase the holding over time and reduce the average price.

Buddy I don't know any other strategy you feel will should apply to our bitcoin investment in other to increase our bitcoin holding apart from the regular strategies which are DCA, buying the dip and lump-sum, but responding to your first paragraph you're wrong about DCA, because DCA strategy is best strategy for bitcoin accumulation and almost everybody out there consider DCA the best strategy of time, because it allows us to buy bitcoin at any fucking time regardless of the market condition since our mindset is  long term holding 4 to 10 years or longer. DCA strategy also make us who are investing in bitcoin for long term to be consistence in accumulating bitcoin either on a weekly basis or on a monthly basis with our discretionary income and hold, because you can only reasonable profit from bitcoin when you accumulate a good portion of bitcoin and hold.

It actually depends on your preference, your situation in life, your age, your marital status, and other things that may or may not make you more comfortable in a particular strategy.

There's also the timing, luck, and which part of the cycle Bitcoin is currently in. I admit that I merely got lucky with the timing in 2019. I had the savings, and I had NO responsibilities/distractions.

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

[SmartCharpa]

I doubt anyone is saying that a steady income is not important, but instead saying that a steady income is not required in order to determine to invest into bitcoin.  The thing that is needed is discretionary funds, and discretionary funds can come from a variety of places, including from non steady income sources, or even prior building up of back up funds or even from the use of debt... and yeah, even though a steady income can make things easier, it is not required in order to be able to buy bitcoin.. .what is needed is discretionary funds.

Many people believe that you can only set up a discretionary fund if you have a steady source of income, however stable income is not necessary before investing in Bitcoin.  The main thing is to have some extra cash that you don't need to cover your other needs, this money can come from everywhere like side jobs, savings, or even some money you've saved for a long time, and there's no need to do this with your monthly salary.

Of course, if you have a steady income makes it easier to continue investing and building your Bitcoin over time with a rest of mind, but it is not necessary if you understand how Bitcoin works. And as long as you have spare money and you can afford to lose it without affecting your other expenses, you can invest in Bitcoin. What matters is that you use funds that you are willing to risks rather than relying on your monthly salary.

[Finebone]

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

[avp2306]

 Definitely there are always factors to consider when starting out investment, most importantly having the financial capacity of having a discretionary income, so when we consider our situation in life could be more of financial availability and being able to afford our expenses and paying our bills which are primary and essential needs as well, I really don’t think that we should consider our age when we want to start investing in Bitcoin, life is always full of uncertainty, considering that we’ve a discretionary income and we can continue to accumulate Bitcoin on a regular basis, marriage and all that are just all a bonus and also will still have to deal with our financial situation and expenses.

It could be an issue. To give you some context, if a person is 70 years old and he/she has enough money to enjoy the few years he/she has left, I believe investing in Bitcoin should be the LAST goal he/she should plan for himself/herself.

Compare that to a young individual in his/her 20s who has been saving MOST of his/her salary. If that individual is given an opportunity to invest in the lowest DIPs of a bear cycle, then he/she SHOULD use ALL of his/her savings.

I think you are right about what you said here concerning age, it plays an important role on how a Bitcoin investment should approach his investment, just as you have said already, you can't expect a 70year old Bitcoin investor still planning on holding for more than 10 years because he knows that he has a limited time, unlike those that are in their 20's.
But those in their 20's don't have to buy only the dip, they just have to buy anytime their discretionary income is available, but if their is a dip in the market they might seize the opportunity and buy aggressively if they have their reserves funds to do so, because they have quite a lot of time to reap from their investment when bitcoin has risen up to a million dollar or more.

The earlier the better since it will bare more good result if they invest at earliest age.

But that depends on what age they know Bitcoin since not everyone is lucky to know this coin so early.

Still they can do good decision by investing on Bitcoin right away then do HODL with it. Somehow they can decide to do 5,10 years or maybe longer than that especially if they are young.

If they are at 70's still they can buy Bitcoin and for inheritance purposes. Nothing stop people to do it since it can give good fortune to their recipients. This is how cool Bitcoin is since its flexible and we can use it on whatever purpose we are aiming for investing on this coin.

[Obulis]

Then talking about DCA with discretionary fund approach to stacking Bitcoin, ur Bitcoin asset becomes an automatic discretionary fund even if profit is not made. For sure the target is to make profit but DCA And discretionary funds approach can likewise become a profitable venture should Bitcoin keep to a higher hight above what it's bought right now..

I never wanted to respond to this but I am just too confused by this statement here, please @obulis can you please throw more light on what you are trying to say?
Because I don't know how your Bitcoin asset will become a discretionary funds all of a sudden, or am I the only one misinterpreting the bold statement, please if you really understand what you wanted to say, come and throw more light on it so that we can understand , because this seems misleading if it's what am thinking.

I don't mean confusion of any kind, it is just the use of words and further encouragement of DCA and discretionary fund approach. Bitcoin price can't be so bad that there won't be some money for one to cash out after a certain long term investment. Considering that DCA and discretionary fund (as some people puts it, money u can afford to lose) are used, this cash out becomes money at ur decision or discretion definitely.
The tendency of this pull together resources using DCA and discretionary fund to make some profit or having something left at least  no matter the price is part of the advantage investing in Bitcoin much more using DCA and discretionary fund.

[AirtelBuzz]

There is an interesting tweet from Micheal Saylor which I came across and also shared in my local board. This tweet is great example of how DCA over long duration helps you.

What this tweet tells us is that Microstrategy is gathering Bitcoin from Sep 2020 at different prices and till now they have 628791 Bitcoins and the DCA price of each Bitcoin is 73k USD, while Price of Bitcoin at the time of tweet is 118k USD. That means Microstrategy is getting a profit of almost 45k on every Bitcoin they have. It's true that, If you don't stop buying Bitcoin, you won't stop making Money.  

...

Yes, that's why we should not give up on DCA on bitcoin when we have discretionary funds. Because although the DCA journey is time-consuming, the results are certainly worth it. Because by doing DCA we will not feel heavy, because we divide the discretionary funds that we have or every time we have discretionary funds to buy in bitcoin at a predetermined time and nominal. So we will not feel heavy to do DCA. In contrast to buying bitcoin with a lump sum strategy, of course for some people it will be quite heavy. Because the lumpsum strategy is buying with a large enough nominal at one time. That's why instead of doing a lump sum strategy it's better to just do DCA. Because DCA is much simpler and also more affordable for almost everyone. And until now I also continue to do DCA on bitcoin and hopefully I can continue to consistently do it.

To be honest you can really give up any strategy on Bitcoin, even your favorite strategies and perhaps adopting a DCA strategy to invest is seen as a smoother investment process. You are right that the DCA journey is time-consuming but the results are definitely worth it because in this process, an investor's deposited Bitcoins gradually turn into a portfolio, as a result there is no pressure to adopt this strategy like other strategies, so a wave of benefits begins to emerge among investors. It is largely true that if we have discretionary income and reserve funds, maybe we will not feel burdened when doing DCA and how easily and aggressively you invest from the beginning after implementing it will depend largely on your willingness, so maybe this is the best way because it helps you stay on top, no matter how slow the process is.

[Cossyblack]

Yes it is true that you should not wait to invest in your emergency fund, because until he has some amount of money in his emergency fund, his investment may be stopped. investments running and to be able to deposit money into his fund.

It is wrong to start using your emergency funds to buy Bitcoin . Your emergency funds is  kept as a stronghold of defense and a safe haven  for your investments. It protects your investment from any unforseen occurrence that may likely happens in the future, although we don't plan for this things to happen but an emergency funds has to be kept as a strong backup in case of any real life emergencies. However what your investing on is Bitcoin and not your Emergency funds and reserve funds. Secondly what's is needed to invests in Bitcoin is your Discretional funds, Discretional funds is your extra cash after all  your necessities has been taken care .

Okay mate, I understand your example, but what I mean is that if he waits to deposit money into his fund, his investing will be delayed. So if he starts saving Bitcoin along with depositing money into his fund, it would be very good for him. What I mean is that if he deposits some money into his fund and saves Bitcoin at the same time, his investing will continue and his fund will start accumulating money along with it.

I get your points that an investor should be building his Bitcoin portfolio alongside with his emergency funds and reserve fund whenever his discretional funds is available. What often can delay an Investor accumulation pace is when he starts timing the market with the mindset of waiting for the perfect timing to buy Bitcoin. Timing the market is bad, this will not just slow his accumulation but will also stall his consistency in buying Bitcoin weekly or monthly. One thing is certain,no investor or trader can predict the market perfectly or accurately so it's just a waste of time and efforts. The main thing an investor should be focused on is buying Bitcoin with his discretion funds and if he has a steady flow of discretional income that comes weekly or monthly it's also an advantage because it will accelerate his Bitcoin accumulation until he reaches his over accumulation status.

[Shadiq]

To be honest you can really give up any strategy on Bitcoin, even your favorite strategies and perhaps adopting a DCA strategy to invest is seen as a smoother investment process. You are right that the DCA journey is time-consuming but the results are definitely worth it because in this process, an investor's deposited Bitcoins gradually turn into a portfolio, as a result there is no pressure to adopt this strategy like other strategies, so a wave of benefits begins to emerge among investors. It is largely true that if we have discretionary income and reserve funds, maybe we will not feel burdened when doing DCA and how easily and aggressively you invest from the beginning after implementing it will depend largely on your willingness, so maybe this is the best way because it helps you stay on top, no matter how slow the process is.

Although the DCA strategy may seem slow in general, it is quite effective and the fastest compared to others. Although it takes a little time to build your portfolio in the DCA strategy, the stage you will be at the end of investing in the DCA strategy is a little difficult than other strategies. You may have heard the story of the tortoise and the hare, the moral of which is "Slow and steady wins the race, and overconfidence can lead you to failure." The story tells us about the importance of consistency and describes how effective consistency is.

The DCA strategy is a little slow, but consistent. In other strategies, your portfolio may seem big at the beginning, but in the end, the portfolio built in the DCA strategy may not be able to compete with it. Because as a result of consistency, your portfolio will continue to grow for a long time, whereas in other strategies, due to lack of consistency, you are more likely to fall asleep and you may fail to achieve your goals. So even though DCA seems slow, the end result is quite successful compared to other strategies.

[Salahmu]

So many people get wrecked because they did not build that safety net first… It is like trying to swim without a life jacket, eventually, the waves get too rough. Having an emergency fund isn’t about being weak or scared, it is about protecting your future self and your long term goals. When you have that buffer,

Your comment seems to suggest that we need to build an emergency fund before we start investing. Waiting to build an emergency fund before starting investing is not the right decision.

As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing,

What you are suggesting is actually what seems to be swimming without a lifejacket because when you thought that you can confidently swim without getting tired you neglect the help of a lifejacket and if eventually you began swimming and the unforseen happened that you get tired you began recall back how you could have prevented it if there was a lifejacket so actually in Bitcoin the lifejacket is the emergency funds because they are your rescue at every given moment of challenges so actually building before investing is also a smart way because you shouldn't think that as a starter there is nothing to disrupt you. What if you start without emergency fund how would you manage everything?, will you run to your investment at every call?. Someone with an emergency fund is confident than someone without it because the person with the emergency funds has a place of shelter while you do not have.