Buy the DIP, and HODL!

[Umulala-alala]

A rich man must not save or keep emergency funds down when investing in bitcoin like an average or low income earner. This is because his financial strength is very strong and he has several streams of income in which he can take from any of them to sort out an emergency when it occurs and it will not affect him at all, because he has the luxury to tap funds from any of his investments or business. Such person has overcome the challenges of an unforeseen circumstances that will occur in future.

Yes, you are absolutely right. If you always have several times the amount of your entire backup fund readily available, then why would you need to create a separate fund? If you have a special ability to leap across a river, why would you spend time building a boat? A wealthy person has multiple options to handle emergencies; they can gather funds from various sources when needed. So, why would they spend time creating a separate emergency fund?

An emergency fund is essential for those who lack the financial resources to combat urgent situations or whose leftover income after meeting daily needs is not sufficient to both invest and handle emergencies. A wealthy individual earns enough to meet their needs while also having excess funds to invest, leaving them with a significant surplus. However, a poor or middle-class individual often spends most of their earnings on daily necessities. While they may have some money left for dollar-cost averaging (DCA) and even setting aside a backup fund, they usually cannot retain enough for major emergencies.

For such individuals, having at least one emergency fund is a fundamental necessity. It would be a mistake to generalize the same financial strategy for everyone.

how can you agree to this. Is this what jeyjuangee our able legendary thought us about bitcoin investment?

 that a rich man don't need an emergency fund before he can start investing bitcoin?

 It is a very wrong thing to say, because before you start investing in bitcoin for a long period of time, you have to get yourself prepared, be you rich or poor, nobody is excluded when it comes to financial challenges, because as a human being you must face unforseen circumstances be you rich or poor.

Be you rich or poor you need an emergency fund and a back up fund as well, to enable you build a solid investment portfolio for a long period of time, or you will end up building nothing but regret.

What is most needed before you can start up your bitcoin investment is your discretionary fund or income then the rest of it can come later, the rich man may not like to set up an emergency fund because he already have more than enough to take care of his unexpected challenges because there are several stream of income coming in his focus will be how to increase his discretionary income buy more bitcoin and hodl.

[JayJuanGee]

A rich man must not save or keep emergency funds down when investing in bitcoin like an average or low income earner. This is because his financial strength is very strong and he has several streams of income in which he can take from any of them to sort out an emergency when it occurs and it will not affect him at all, because he has the luxury to tap funds from any of his investments or business. Such person has overcome the challenges of an unforeseen circumstances that will occur in future.

Yes, you are absolutely right. If you always have several times the amount of your entire backup fund readily available, then why would you need to create a separate fund? If you have a special ability to leap across a river, why would you spend time building a boat? A wealthy person has multiple options to handle emergencies; they can gather funds from various sources when needed. So, why would they spend time creating a separate emergency fund?

An emergency fund is essential for those who lack the financial resources to combat urgent situations or whose leftover income after meeting daily needs is not sufficient to both invest and handle emergencies. A wealthy individual earns enough to meet their needs while also having excess funds to invest, leaving them with a significant surplus. However, a poor or middle-class individual often spends most of their earnings on daily necessities. While they may have some money left for dollar-cost averaging (DCA) and even setting aside a backup fund, they usually cannot retain enough for major emergencies.
For such individuals, having at least one emergency fund is a fundamental necessity. It would be a mistake to generalize the same financial strategy for everyone.

It seems a bit strange why we might be spending a lot of time comparing the cashflow management practices and/or obstacles of the rich and the poor.  Surely the rich are going to have more likely sources of income and a lot more options, yet they could also deplete their options if they engage in poor cashflow management practices, and even within the rich there are differing levels in terms of the kinds of income that they have, and some rich folks might be dependent upon work income and others might be dependent upon income from their investments, and so there can be challenges and mistakes that any of them could make if they are potentially spending beyond their discretionary income or if they might be contributing to their own sudden increases in expenses or making losses in investment in ways that they have to get cash to cover their losses.

So, even though a lot of similar principles will apply, by definition rich people have more options, and poor people are likely trying to build up their investment and strengthen their cashflow management practices in order to give themselves more options, even if the poor folks would both be dealing with smaller numbers but also likely having fewer back up funds that they can fall back upon in the event that they screw up in their bitcoin investment.

Many rich folks might have so many cashflows from various sources that they do not even recognize bitcoin as an important place to put their value, yet poor people may well be able to recognize bitcoin as a place that they are able to invest even small portions of whatever income that they have (presumptively discretionary income) in order to be able to make progress on building wealth that they might  not have been able to invest in such small amounts into any other asset, and if they had been saving in their fiat currency (and even in dollars) for years and years and years, they might have had been finding that their abilities to save more has not been causing them to increase their wealth, even after many years of trying to save, so in that sense, bitcoin provides another option in which they can figure out ways to build up their bitcoin investment and to make progress, even if it might take them 15-20 years or longer, if they are creating strong cashflow management practices and putting money into bitcoin on a regular basis, they may well end up seeing a lot of progress within one or two bitcoin cycles, even though surely there is no guarantee that the are going to be profitable, yet bitcoin still represents one  of the best, if not the best, place that they can be putting any extra value that they are able to generate through working or whatever other means they have to generate income.

I agree with your comment. Bitcoin investment is a business or company.You are investing slowly for 6 to 10 years and gradually growing your business. When you reach your goal, selling the business is nothing but a fool. Hey, after achieving your goal, you can invest some money somewhere else or do whatever you want. So selling the company is a fool. Gradually, as time goes by, I am a Bitcoin investor and I am sure that the value of Bitcoin will increase and never decrease. There are many whale investors in Bitcoin now. They have accumulated a lot of Bitcoin.

I disagree with you to some point because Bitcoin investment is not really a company reason because there are people who will just invest very little cent and there are also people ( investors) who will invest big cent, so the investor that invested a little cent can not call his or her investment a company but rather it can been seen as a share. Bitcoin investment is just like buying share from a company and keeping it for some period of time so that the value will increase and some people don't just buy and sell they keep on buying and holding. First, you should know or understand that the idea of buying Bitcoin is not to keep it or store it in the wallet forever there is a stage you will reach ( matured stage) you will have to sell some either to use it and enjoy your years of holding or sell to diversify.

well it depends on how you define the word 'company' you can check the link to see the definition of company. although it definition may be defferent from bitcoin but for me i somehow see bitcoin investment as company. because it involves money or capital, it involves risk as well and profit. and all this are what involves in company. microstrategy is a company but they made most of their money from bitcoin investment, and that is what kept them till date. Take a look at different assets of microstrategy how Bitcoin is the major profit asset

You sound pretty lost Pi-network314159 if you are trying to describe bitcoin as if bitcoin were like a company when it is not. 

Bitcoin is like a commodity or like a protocol that involves both value and information yet bitcoin was designed in such a way that miners are incentivized to build systems around it and to accumulate bitcoin in their own self interest, which protects and builds bitcoin's network. 

Bitcoin is a paradigm shifting asset class that is different from any other asset class that currently exists and bitcoin is different from any other asset that existed prior to its invention/discovery.  Sure even though bitcoin was invented / discovered, there have been a lot of other coins/projects trying to imitate bitcoin or to proclaim (or promote themselves) that they similar to bitcoin or better than bitcoin, which is not true.  Hopefully none of us are getting distracted into shitcoins and/or not being able to try to understand how bitcoin is different from the others.

If there is an ability to dethrone a leading network protocol like bitcoin, then the competitor would need to be 10x better or more than 10x better, which there are currently no contenders in regards to dethroning bitcoin.

Bitcoin is in the process of dethroning gold and fiat (such as the dollar) because bitcoin is more than 10x better than each of those prior monetary system, even though it takes time for the process of bitcoin being dominant to play out.   Surely fiat has mostly dethroned and demonetized gold, even though gold is going through some recent recovery, but gold is not even close to as good as bitcoin, even if gold is physical and gold is familiar.... Gold still is not going to be able to compete with bitcoin, even though sure, it is not going to give up, since some people still like gold, and they don't really recognize and/or understand how bitcoin is in the ballpark of 1,000x or greater than gold.

Microstrategy is a company that is employing various kinds of financial instruments and debt in order to leverage fiat systems in the acquisition of bitcoin under financial terms that are better than other companies have so far been able to achieve.  MSTR has little to no control over bitcoin, even though MSTR aspires to accumulate as much bitcoin as they are able to accomplish through their establishing systems and a reputation for accumulating bitcoin, and investors want to get in upon the profits that MSTR has been generating with such system of bitcoin accumulation that it has been employing and will continue to employ.. ... unless they make some mistakes and fuck up their BTC custody... which could happen, but bitcoin gives no shits about if MSTR loses its bitcoin or sells its bitcoins back onto the market (which they have clearly and unambiguously claimed that they do not plan to sell any of their BTC, since they are in the process of accumulating as many bitcoin as they are able to accomplish)..

Bitcoin is not dependent on the success or failure of MSTR... and it is also not dependent on the success or failure of any governments (including the USA), even if  there  may well be attempts for some companies and/or some governments to control, manipulate and/or influence it.

A rich man must not save or keep emergency funds down when investing in bitcoin like an average or low income earner. This is because his financial strength is very strong and he has several streams of income in which he can take from any of them to sort out an emergency when it occurs and it will not affect him at all, because he has the luxury to tap funds from any of his investments or business. Such person has overcome the challenges of an unforeseen circumstances that will occur in future.

Yes, you are absolutely right. If you always have several times the amount of your entire backup fund readily available, then why would you need to create a separate fund? If you have a special ability to leap across a river, why would you spend time building a boat? A wealthy person has multiple options to handle emergencies; they can gather funds from various sources when needed. So, why would they spend time creating a separate emergency fund?

An emergency fund is essential for those who lack the financial resources to combat urgent situations or whose leftover income after meeting daily needs is not sufficient to both invest and handle emergencies. A wealthy individual earns enough to meet their needs while also having excess funds to invest, leaving them with a significant surplus. However, a poor or middle-class individual often spends most of their earnings on daily necessities. While they may have some money left for dollar-cost averaging (DCA) and even setting aside a backup fund, they usually cannot retain enough for major emergencies.

For such individuals, having at least one emergency fund is a fundamental necessity. It would be a mistake to generalize the same financial strategy for everyone.

how can you agree to this. Is this what jeyjuangee our able legendary thought us about bitcoin investment?

 that a rich man don't need an emergency fund before he can start investing bitcoin?
 It is a very wrong thing to say, because before you start investing in bitcoin for a long period of time, you have to get yourself prepared, be you rich or poor, nobody is excluded when it comes to financial challenges, because as a human being you must face unforseen circumstances be you rich or poor.

Be you rich or poor you need an emergency fund and a back up fund as well, to enable you build a solid investment portfolio for a long period of time, or you will end up building nothing but regret.

It seems that I already attempted to address these kinds of questions in my earlier post (above responding to Jewan420).  The punchline is that rich people have more resources, and so they may not need to specifically designate any of their funds as emergency funds to still be able to use them.  Poor people tend to need to specifically set themselves up with emergency funds, since they don't tend to have as many options or sources of back up funds that they can draw upon if they come  into an emergency in which they lose income or have increased expenses.  Surely, even rich folks could engage in poor cashflow management and deplete their various back up funds and even end up screwing up their bitcoin investment because of their bad cashflow management practices.

Many times we discussed that an emergency fund does not need to be established in advance in order to get started investing in bitcoin, yet surely the poor person is probably going to be in a situation in which he has to be careful to try to build up his emergency fund along with his bitcoin investment, especially in the earliest times of getting started and building his bitcoin investment, so if the poor person already does not have a lot of discretionary income and if he  is starting to buy bitcoin, he likely needs to be paying attention to ways to build his emergency fund and to figure out practical ways of balancing the building of the bitcoin investment and the emergency fund without overly engaging in risks, and surely if he is able to continue to build his emergency funds and his bitcoin investment, then perhaps by the time he builds his emergency fund up to 3 months of his expenses, then he can  start to become more aggressive in his bitcoin investment, yet even 3 months of emergency funds might not necessarily be enough for him to become aggressive in his bitcoin accumulation since he may also may need to build other back up funds so that he never has to touch his emergency funds absent an actual emergency, so if he builds his finances better and better, then he may well never have to  tap into his emergency funds, and he becomes more empowered because he is building both his bitcoin investment and strengthening his cashflow management practices.. which may well end up elevating him to no longer being poor (at least not as poor as he used to be), and much of improvement in his situation can come from the combination of both improving hs cashflow management and also by his building his bitcoin stack size.

No one is saying that it is easy for a poor person, and poor people may well have a lot of challenges to really build up their bitcoin investment and their cashflow management systems, and it well could take a whole cycle or longer just for the poor person to get to a point that he has 3 months of bitcoin expenses invested into bitcoin and 3 months of an emergency fund... and surely if there are ways that the poor person can figure out how to increase his income and/or to decrease his expenses, then that can help him to build his bitcoin investment faster... yet at the same time, there might be some expenses that are not worth cutting... so for example a poor person may well know that he is able to make money by buying a motorcycle, and his income is improved by that, so he has to figure out  ways to buy his motorcycle, and perhaps making sure it is a reliable one... The same could be true by some other expenses that he might not be able to cut, but he tries to find ways to spend his money smartly, including that maybe he might be better off to take a course to be an electrician, since he knows that  he can increase his income, yet he also knows that it s going to cost time and money and perhaps even make it harder for him to buy bitcoin during the 6 months that he is taking electrician school and while he might be having to work for lower wages during his learning process.  The answers can be complicated, including that sometimes people make mistakes in their career choices that might make it more difficult for them to change the kind of work that they do so that they can figure out ways to make more money.. so that they can buy more bitcoin.

[Mayor of ogba]

I don't think emergency funds are that necessary when someone has stable sources of income. For example, when someone is a wage earner or salary earner, their income can simply serve as emergency funds if they plan well.The reason why I feel someone needs emergency funds is when they don't have stable sources of income. These are the people who need emergency funds in case anything comes up in the future. This way, they won’t need to dip into their investment funds.However, as long as someone has stable sources of income, those incomes can serve as emergency funds. The only thing is that if someone wants to enjoy Bitcoin investment, they should use the DCA (Dollar Cost Averaging) method and avoid buying all at once.

Everyone needs an emergency fund and it not for only those who don't have steady source of income. One thing you should know is that in life anything can happen which emergency fund will be needed. One of the qualities of a good investor is the emergency fund because of anything can happen. Just imagine you lose your job instead of you going to tamper with your investment you already have an emergency fund that you can fall to, atleast it can be able to sustain you for the moment.

One who is having a steady source of income with no plan for emergency fund, I think this can be considered as poor management of money. With an investment such like bitcoin, having an emergency fund is very important just to get prepared for the unknown. Sometimes we may have our plan due to the job and income we earn but life can be funny. It is called emergency fund because anything happens and if eventually it happens it is an emergency because it was never expected.

As far as bitcoin investment is concerned, an emergency fund is very much important to set aside when you are investing in bitcoin, and it can be done before you start accumulating bitcoin or some months after you have started accumulating bitcoin so that if there is any unexpected problem that may arise during your bitcoin accumulation journey, the emergency fund you set aside will help you to easily solve the unexpected problem without even thinking of selling part of your bitcoin to solve it or passing through difficult times to solve it. But any investor who ignores the emergency fund and goes ahead and invests in bitcoin without making provision for an emergency fund will fail with his or her bitcoin investment because by the time he or she sorts out his or her daily expenses and uses his or her discretionary income to invest in bitcoin, when an unexpected problem arises, there will be no emergency fund to depend on in solving the unexpected problem, so the investor will have no other choice but to sell part of his or her bitcoin to solve the unexpected problem.

[Richbased]

I agree with your comment. Bitcoin investment is a business or company.You are investing slowly for 6 to 10 years and gradually growing your business. When you reach your goal, selling the business is nothing but a fool. Hey, after achieving your goal, you can invest some money somewhere else or do whatever you want. So selling the company is a fool. Gradually, as time goes by, I am a Bitcoin investor and I am sure that the value of Bitcoin will increase and never decrease. There are many whale investors in Bitcoin now. They have accumulated a lot of Bitcoin.

I disagree with you to some point because Bitcoin investment is not really a company reason because there are people who will just invest very little cent and there are also people ( investors) who will invest big cent, so the investor that invested a little cent can not call his or her investment a company but rather it can been seen as a share. Bitcoin investment is just like buying share from a company and keeping it for some period of time so that the value will increase and some people don't just buy and sell they keep on buying and holding. First, you should know or understand that the idea of buying Bitcoin is not to keep it or store it in the wallet forever there is a stage you will reach ( matured stage) you will have to sell some either to use it and enjoy your years of holding or sell to diversify.

well it depends on how you define the word 'company' you can check the link to see the definition of company. although it definition may be defferent from bitcoin but for me i somehow see bitcoin investment as company. because it involves money or capital, it involves risk as well and profit. and all this are what involves in company. microstrategy is a company but they made most of their money from bitcoin investment, and that is what kept them till date. Take a look at different assets of microstrategy how Bitcoin is the major profit asset

MicroStrategy do not make their money from bitcoin, they make their money from issuing shares and convertible bonds and they use the proceeds they got for it to invest in bitcoin so it's not like since they are an organization that holds a lot of bitcoins, that their income comes from bitcoin. They are only buying and holding for future growth. An individual, organization, company and institution can decide to invest in bitcoin with a primary aim of either holding for a long term or targeting market sentiments to know when to take profits from their investment.

[ginsan]

It's actually not complicated to decide whether you need an emergency fund or you don't need an emergency fund.
The point is that we have prepared all the preparations in planning an investment in bitcoin.

Everyone needs an emergency fund, maybe rich people have already prepared an emergency fund because they have more money in their accounts. So for those of us who are starting to invest, we should think about it, if we really need it, set aside some for an emergency fund and if you think it's not necessary, of course you don't need to do it. But my advice is to apply or set aside an emergency fund for the future.

So there's no need to question it more deeply because all decisions are in your hands, for me it's better to follow all the basic phases to smooth the way for investing in bitcoin.

However, we will need it someday so set aside some reserve funds and forget about it and that's what an emergency fund means.

How the investment process can run smoothly.
Especially we have to understand many things and learn from people who have succeeded in holding bitcoin for a long time. Their advice is very useful for increasing understanding in investing in bitcoin. It would be nice if we could be grateful because we get a lot of important information about investment without having to meet them face to face, but they are able to take the time to explain it.

[Gost ms]

I don't think emergency funds are that necessary when someone has stable sources of income. For example, when someone is a wage earner or salary earner, their income can simply serve as emergency funds if they plan well.The reason why I feel someone needs emergency funds is when they don't have stable sources of income. These are the people who need emergency funds in case anything comes up in the future. This way, they won’t need to dip into their investment funds.However, as long as someone has stable sources of income, those incomes can serve as emergency funds. The only thing is that if someone wants to enjoy Bitcoin investment, they should use the DCA (Dollar Cost Averaging) method and avoid buying all at once.

I cannot agree with your words. Because there are some rules in the field of investment, one of them is an emergency fund. No one can ever predict the future. Any accident can happen at any time. Danger never comes. Even if you have a stable source of income today, you may not have it tomorrow.

Emergency fund You may need some amount of money at any time. Then you can take money from the emergency fund without withdrawing your investment money. Try to keep an amount equal to 3 months of your monthly salary in the emergency fund or keep the amount of money that is required to run the family's expenses for 3 months in the emergency fund.

[I_Anime]

I don't think emergency funds are that necessary when someone has stable sources of income. For example, when someone is a wage earner or salary earner, their income can simply serve as emergency funds if they plan well.The reason why I feel someone needs emergency funds is when they don't have stable sources of income. These are the people who need emergency funds in case anything comes up in the future. This way, they won’t need to dip into their investment funds.However, as long as someone has stable sources of income, those incomes can serve as emergency funds. The only thing is that if someone wants to enjoy Bitcoin investment, they should use the DCA (Dollar Cost Averaging) method and avoid buying all at once.

Everyone needs an emergency fund and it not for only those who don't have steady source of income. One thing you should know is that in life anything can happen which emergency fund will be needed. One of the qualities of a good investor is the emergency fund because of anything can happen. Just imagine you lose your job instead of you going to tamper with your investment you already have an emergency fund that you can fall to, atleast it can be able to sustain you for the moment.

One who is having a steady source of income with no plan for emergency fund, I think this can be considered as poor management of money. With an investment such like bitcoin, having an emergency fund is very important just to get prepared for the unknown. Sometimes we may have our plan due to the job and income we earn but life can be funny. It is called emergency fund because anything happens and if eventually it happens it is an emergency because it was never expected.

As far as bitcoin investment is concerned, an emergency fund is very much important to set aside when you are investing in bitcoin, and it can be done before you start accumulating bitcoin or some months after you have started accumulating bitcoin so that if there is any unexpected problem that may arise during your bitcoin accumulation journey, the emergency fund you set aside will help you to easily solve the unexpected problem without even thinking of selling part of your bitcoin to solve it or passing through difficult times to solve it. But any investor who ignores the emergency fund and goes ahead and invests in bitcoin without making provision for an emergency fund will fail with his or her bitcoin investment because by the time he or she sorts out his or her daily expenses and uses his or her discretionary income to invest in bitcoin, when an unexpected problem arises, there will be no emergency fund to depend on in solving the unexpected problem, so the investor will have no other choice but to sell part of his or her bitcoin to solve the unexpected problem.

Yes as a Bitcoin investor you must be ready for anything inorder to Secure a smooth investment,  this is where planning comes in and having an emergency funds is part of that planning, so everything is base on making proper calculations you can focus some certain percentage of your earning as emergency funds, so that if any expenses comes up you be able to handle it with what running to your Bitcoin to solve it , because if you develoy some manner towards your Investment, your investment may not endup being one with growth ( because of the constant selling ) , that's why usually tell folks that is not bad to be aggressive when accumulating the only problem is over doing it, some people do over accumulate Bitcoin just to hit their goal with light speed but endup messing things up to get me wrong is good to hit your goal will quick but without going overboard.

[Churchillvv]

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

[UmerIdrees]

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

It was a big hack on one of the biggest exchanges and therefore you gotta expect the bitcoin will react to it.  When you see Bitcoin dumping on tarrif news that were even relevant for Bitcoin, but it shows the reaction with price dumping.

I do not know until when this price downward direction will continue, but soon Bitcoin will be over 100k again. 🚀

[Greyhats]

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

It was a big hack on one of the biggest exchanges and therefore you gotta expect the bitcoin will react to it.  When you see Bitcoin dumping on tarrif news that were even relevant for Bitcoin, but it shows the reaction with price dumping.

I do not know until when this price downward direction will continue, but soon Bitcoin will be over 100k again. 🚀

I wouldn't exactly call it a dump, it went down like ~2.8%. Maybe a mini dip would better suited

[Taskford]

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

It was a big hack on one of the biggest exchanges and therefore you gotta expect the bitcoin will react to it.  When you see Bitcoin dumping on tarrif news that were even relevant for Bitcoin, but it shows the reaction with price dumping.

I do not know until when this price downward direction will continue, but soon Bitcoin will be over 100k again. 🚀

Market react maybe because of people sentiments and bad decision making on that situation. That's why its really good for people not to leave any funds on exchange and settle up their funds on safe wallets.

Its just a short term dump people are just afraid about possible effect of that news but for sure market will recover. There's no exchange hacking give long term effect on the market so people should not get afraid with it. So instead of dumping their Bitcoins just like those panic sellers did, they better catch those dumps and speculate for more better future since for sure market will just recover after that situation fades out. Only short term sellers will get panic on this and long term holder will see those dumps as good opportunity to buy more Bitcoin.

[Mayor of ogba]

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

With the hack that happened on the Bybit exchange yesterday, it will serve as a lesson to those investors who don't want to take the phrase "not your key, not your coins" seriously now because they would put themselves in the shoes of those investors who lost their assets on the Bybit exchange. For the newbies in this thread to get it clear and also do the right thing by keeping their bitcoin safe from centralized exchanges, there's nothing like an exchange wallet, but centralized exchanges, so newbies should help themselves and stop keeping their bitcoin on a centralized exchange like Binance, Kucoin, Gate, Bitget, and so on for a very long time so that they will avoid this type of bad news in the future.

[Solokan]

Of course my expenses are always considered first before making investment yet I seems to find myself to be way too young amongst many folks here so I tend to still depend on my parents as I'm still very young however with this I have almost all my earnings or income to be in the part of discretionary income hence I buy more bitcoin considering investments as most important over my personal desires or expenses as you may consider it.

If one finds him or her self in a state where you do not take care of all your needs your incomes will happen to be a big part of the discretionary income because your expenses are way lesser hence I choose to make investment now by buying much bitcoin as I can, by the time I will be due for self care I will probably have lesser worry to buy bitcoin because I would be far ahead of my mates.

at your young age of course you are a wise person because you have chosen to invest in btc but of course with your young age of course someday when you are more mature of course you have a bright future because of course investing in btc is of course a good thing and of course I admire you because at a young age you can think positively of course there are very few young people like you who have the ambition to invest in btc.

but of course don't forget friend, you must have an emergency fund because that way of course your investment will be safe because when you need money of course if there is an emergency fund your btc investment will of course be safe and of course you will not sell btc and of course you will have the potential to be successful in the future as long as you are strong in holding it yes of course you also have to continue to explore insights to be even better. yes it is true of course there is potential for you to be more successful in the future

[Just Say]

With the hack that happened on the Bybit exchange yesterday, it will serve as a lesson to those investors who don't want to take the phrase "not your key, not your coins" seriously now because they would put themselves in the shoes of those investors who lost their assets on the Bybit exchange. For the newbies in this thread to get it clear and also do the right thing by keeping their bitcoin safe from centralized exchanges, there's nothing like an exchange wallet, but centralized exchanges, so newbies should help themselves and stop keeping their bitcoin on a centralized exchange like Binance, Kucoin, Gate, Bitget, and so on for a very long time so that they will avoid this type of bad news in the future.

Maybe this kind of news will help every investor to be more careful. So I think those who want to invest in Bitcoin should have an idea about wallet from the beginning. Because most new investors forget to fix the wallet properly, So even if they buy a large amount of Bitcoin and hold it for investment, they may not have it anymore. Centralized exchanges should only be used to purchase our Bitcoins, not to actually hold Bitcoins there. Moreover there was no Bitcoin in the ByBit exchange hacked yesterday, so it may not have much effect on the Bitcoin market, but it is true that the price of Bitcoin was slightly dumping.

[bestcandy]

With the news of a serious hack on bybit a popular exchange wallet most us here uses, even though it has nothing to do with bitcoin directly yet I find it necessary to remind you all that leaving your coins or assets in an exchange wallet is a big red flag and for every reason always find a way to move your coins to a safe open source wallets.

Coin security should be a priority. buy bitcoin and never leave them on an exchange wallet or any wallet that does not guarantee good percentage of security.

The hack is a big lost to Bybit exchange and to those that were affected. However, the security of wallet is something that every investors must consider before thinking of buying Bitcoin because it determine the safety of your Bitcoin asset. So I would say that Bybit exchange hacking should be a serious warning to investors to be very careful about the kind of wallet they will keep their asset to avoid any uncertainty that will result to losing digital asset to hackers.

[CageMabok]

...

The hack is a big lost to Bybit exchange and to those that were affected. However, the security of wallet is something that every investors must consider before thinking of buying Bitcoin because it determine the safety of your Bitcoin asset. So I would say that Bybit exchange hacking should be a serious warning to investors to be very careful about the kind of wallet they will keep their asset to avoid any uncertainty that will result to losing digital asset to hackers.

Smart investors who already have knowledge in storing Bitcoin assets that they have previously purchased will not use exchange wallets as a place to store their assets. Because the exchange wallet is not a personal wallet that we can access more deeply and also more freely even though every exchange user can always use the exchange wallet just for transactions. So if you are still thinking about storing assets in a particular exchange, I think that is a very wrong idea, especially if it is used to store valuable assets such as Bitcoin.

Investors only use the exchange as a place to buy Bitcoin, which after doing so they will immediately move it to the personal wallet that they have been using for a long time. Because those who often use exchange wallets to temporarily store assets are only traders, the rest do not exist because investors still prefer to bring all their assets to their own wallets.

[bestcandy]

A rich man must not save or keep emergency funds down when investing in bitcoin like an average or low income earner. This is because his financial strength is very strong and he has several streams of income in which he can take from any of them to sort out an emergency when it occurs and it will not affect him at all, because he has the luxury to tap funds from any of his investments or business. Such person has overcome the challenges of an unforeseen circumstances that will occur in future.

Yes, you are absolutely right. If you always have several times the amount of your entire backup fund readily available, then why would you need to create a separate fund? If you have a special ability to leap across a river, why would you spend time building a boat? A wealthy person has multiple options to handle emergencies; they can gather funds from various sources when needed. So, why would they spend time creating a separate emergency fund?

An emergency fund is essential for those who lack the financial resources to combat urgent situations or whose leftover income after meeting daily needs is not sufficient to both invest and handle emergencies. A wealthy individual earns enough to meet their needs while also having excess funds to invest, leaving them with a significant surplus. However, a poor or middle-class individual often spends most of their earnings on daily necessities. While they may have some money left for dollar-cost averaging (DCA) and even setting aside a backup fund, they usually cannot retain enough for major emergencies.
For such individuals, having at least one emergency fund is a fundamental necessity. It would be a mistake to generalize the same financial strategy for everyone.

It seems a bit strange why we might be spending a lot of time comparing the cashflow management practices and/or obstacles of the rich and the poor.  Surely the rich are going to have more likely sources of income and a lot more options, yet they could also deplete their options if they engage in poor cashflow management practices, and even within the rich there are differing levels in terms of the kinds of income that they have, and some rich folks might be dependent upon work income and others might be dependent upon income from their investments, and so there can be challenges and mistakes that any of them could make if they are potentially spending beyond their discretionary income or if they might be contributing to their own sudden increases in expenses or making losses in investment in ways that they have to get cash to cover their losses.

So, even though a lot of similar principles will apply, by definition rich people have more options, and poor people are likely trying to build up their investment and strengthen their cashflow management practices in order to give themselves more options, even if the poor folks would both be dealing with smaller numbers but also likely having fewer back up funds that they can fall back upon in the event that they screw up in their bitcoin investment.

Many rich folks might have so many cashflows from various sources that they do not even recognize bitcoin as an important place to put their value, yet poor people may well be able to recognize bitcoin as a place that they are able to invest even small portions of whatever income that they have (presumptively discretionary income) in order to be able to make progress on building wealth that they might  not have been able to invest in such small amounts into any other asset, and if they had been saving in their fiat currency (and even in dollars) for years and years and years, they might have had been finding that their abilities to save more has not been causing them to increase their wealth, even after many years of trying to save, so in that sense, bitcoin provides another option in which they can figure out ways to build up their bitcoin investment and to make progress, even if it might take them 15-20 years or longer, if they are creating strong cashflow management practices and putting money into bitcoin on a regular basis, they may well end up seeing a lot of progress within one or two bitcoin cycles, even though surely there is no guarantee that the are going to be profitable, yet bitcoin still represents one  of the best, if not the best, place that they can be putting any extra value that they are able to generate through working or whatever other means they have to generate income.

I agree with your comment. Bitcoin investment is a business or company.You are investing slowly for 6 to 10 years and gradually growing your business. When you reach your goal, selling the business is nothing but a fool. Hey, after achieving your goal, you can invest some money somewhere else or do whatever you want. So selling the company is a fool. Gradually, as time goes by, I am a Bitcoin investor and I am sure that the value of Bitcoin will increase and never decrease. There are many whale investors in Bitcoin now. They have accumulated a lot of Bitcoin.

I disagree with you to some point because Bitcoin investment is not really a company reason because there are people who will just invest very little cent and there are also people ( investors) who will invest big cent, so the investor that invested a little cent can not call his or her investment a company but rather it can been seen as a share. Bitcoin investment is just like buying share from a company and keeping it for some period of time so that the value will increase and some people don't just buy and sell they keep on buying and holding. First, you should know or understand that the idea of buying Bitcoin is not to keep it or store it in the wallet forever there is a stage you will reach ( matured stage) you will have to sell some either to use it and enjoy your years of holding or sell to diversify.

well it depends on how you define the word 'company' you can check the link to see the definition of company. although it definition may be defferent from bitcoin but for me i somehow see bitcoin investment as company. because it involves money or capital, it involves risk as well and profit. and all this are what involves in company. microstrategy is a company but they made most of their money from bitcoin investment, and that is what kept them till date. Take a look at different assets of microstrategy how Bitcoin is the major profit asset

You sound pretty lost Pi-network314159 if you are trying to describe bitcoin as if bitcoin were like a company when it is not. 

Bitcoin is like a commodity or like a protocol that involves both value and information yet bitcoin was designed in such a way that miners are incentivized to build systems around it and to accumulate bitcoin in their own self interest, which protects and builds bitcoin's network. 

Bitcoin is a paradigm shifting asset class that is different from any other asset class that currently exists and bitcoin is different from any other asset that existed prior to its invention/discovery.  Sure even though bitcoin was invented / discovered, there have been a lot of other coins/projects trying to imitate bitcoin or to proclaim (or promote themselves) that they similar to bitcoin or better than bitcoin, which is not true.  Hopefully none of us are getting distracted into shitcoins and/or not being able to try to understand how bitcoin is different from the others.

If there is an ability to dethrone a leading network protocol like bitcoin, then the competitor would need to be 10x better or more than 10x better, which there are currently no contenders in regards to dethroning bitcoin.

Bitcoin is in the process of dethroning gold and fiat (such as the dollar) because bitcoin is more than 10x better than each of those prior monetary system, even though it takes time for the process of bitcoin being dominant to play out.   Surely fiat has mostly dethroned and demonetized gold, even though gold is going through some recent recovery, but gold is not even close to as good as bitcoin, even if gold is physical and gold is familiar.... Gold still is not going to be able to compete with bitcoin, even though sure, it is not going to give up, since some people still like gold, and they don't really recognize and/or understand how bitcoin is in the ballpark of 1,000x or greater than gold.

Microstrategy is a company that is employing various kinds of financial instruments and debt in order to leverage fiat systems in the acquisition of bitcoin under financial terms that are better than other companies have so far been able to achieve.  MSTR has little to no control over bitcoin, even though MSTR aspires to accumulate as much bitcoin as they are able to accomplish through their establishing systems and a reputation for accumulating bitcoin, and investors want to get in upon the profits that MSTR has been generating with such system of bitcoin accumulation that it has been employing and will continue to employ.. ... unless they make some mistakes and fuck up their BTC custody... which could happen, but bitcoin gives no shits about if MSTR loses its bitcoin or sells its bitcoins back onto the market (which they have clearly and unambiguously claimed that they do not plan to sell any of their BTC, since they are in the process of accumulating as many bitcoin as they are able to accomplish)..

Bitcoin is not dependent on the success or failure of MSTR... and it is also not dependent on the success or failure of any governments (including the USA), even if  there  may well be attempts for some companies and/or some governments to control, manipulate and/or influence it.

A rich man must not save or keep emergency funds down when investing in bitcoin like an average or low income earner. This is because his financial strength is very strong and he has several streams of income in which he can take from any of them to sort out an emergency when it occurs and it will not affect him at all, because he has the luxury to tap funds from any of his investments or business. Such person has overcome the challenges of an unforeseen circumstances that will occur in future.

Yes, you are absolutely right. If you always have several times the amount of your entire backup fund readily available, then why would you need to create a separate fund? If you have a special ability to leap across a river, why would you spend time building a boat? A wealthy person has multiple options to handle emergencies; they can gather funds from various sources when needed. So, why would they spend time creating a separate emergency fund?

An emergency fund is essential for those who lack the financial resources to combat urgent situations or whose leftover income after meeting daily needs is not sufficient to both invest and handle emergencies. A wealthy individual earns enough to meet their needs while also having excess funds to invest, leaving them with a significant surplus. However, a poor or middle-class individual often spends most of their earnings on daily necessities. While they may have some money left for dollar-cost averaging (DCA) and even setting aside a backup fund, they usually cannot retain enough for major emergencies.

For such individuals, having at least one emergency fund is a fundamental necessity. It would be a mistake to generalize the same financial strategy for everyone.

how can you agree to this. Is this what jeyjuangee our able legendary thought us about bitcoin investment?

 that a rich man don't need an emergency fund before he can start investing bitcoin?
 It is a very wrong thing to say, because before you start investing in bitcoin for a long period of time, you have to get yourself prepared, be you rich or poor, nobody is excluded when it comes to financial challenges, because as a human being you must face unforseen circumstances be you rich or poor.

Be you rich or poor you need an emergency fund and a back up fund as well, to enable you build a solid investment portfolio for a long period of time, or you will end up building nothing but regret.

It seems that I already attempted to address these kinds of questions in my earlier post (above responding to Jewan420).  The punchline is that rich people have more resources, and so they may not need to specifically designate any of their funds as emergency funds to still be able to use them.  Poor people tend to need to specifically set themselves up with emergency funds, since they don't tend to have as many options or sources of back up funds that they can draw upon if they come  into an emergency in which they lose income or have increased expenses.  Surely, even rich folks could engage in poor cashflow management and deplete their various back up funds and even end up screwing up their bitcoin investment because of their bad cashflow management practices.

Many times we discussed that an emergency fund does not need to be established in advance in order to get started investing in bitcoin, yet surely the poor person is probably going to be in a situation in which he has to be careful to try to build up his emergency fund along with his bitcoin investment, especially in the earliest times of getting started and building his bitcoin investment, so if the poor person already does not have a lot of discretionary income and if he  is starting to buy bitcoin, he likely needs to be paying attention to ways to build his emergency fund and to figure out practical ways of balancing the building of the bitcoin investment and the emergency fund without overly engaging in risks, and surely if he is able to continue to build his emergency funds and his bitcoin investment, then perhaps by the time he builds his emergency fund up to 3 months of his expenses, then he can  start to become more aggressive in his bitcoin investment, yet even 3 months of emergency funds might not necessarily be enough for him to become aggressive in his bitcoin accumulation since he may also may need to build other back up funds so that he never has to touch his emergency funds absent an actual emergency, so if he builds his finances better and better, then he may well never have to  tap into his emergency funds, and he becomes more empowered because he is building both his bitcoin investment and strengthening his cashflow management practices.. which may well end up elevating him to no longer being poor (at least not as poor as he used to be), and much of improvement in his situation can come from the combination of both improving hs cashflow management and also by his building his bitcoin stack size.

No one is saying that it is easy for a poor person, and poor people may well have a lot of challenges to really build up their bitcoin investment and their cashflow management systems, and it well could take a whole cycle or longer just for the poor person to get to a point that he has 3 months of bitcoin expenses invested into bitcoin and 3 months of an emergency fund... and surely if there are ways that the poor person can figure out how to increase his income and/or to decrease his expenses, then that can help him to build his bitcoin investment faster... yet at the same time, there might be some expenses that are not worth cutting... so for example a poor person may well know that he is able to make money by buying a motorcycle, and his income is improved by that, so he has to figure out  ways to buy his motorcycle, and perhaps making sure it is a reliable one... The same could be true by some other expenses that he might not be able to cut, but he tries to find ways to spend his money smartly, including that maybe he might be better off to take a course to be an electrician, since he knows that  he can increase his income, yet he also knows that it s going to cost time and money and perhaps even make it harder for him to buy bitcoin during the 6 months that he is taking electrician school and while he might be having to work for lower wages during his learning process.  The answers can be complicated, including that sometimes people make mistakes in their career choices that might make it more difficult for them to change the kind of work that they do so that they can figure out ways to make more money.. so that they can buy more bitcoin.

The rich are at financial leverage than the poor to accumulate Bitcoin but no matter the financial capacity of the rich they can still be depleted financially if proper cash flow management system is not put in place.
What really matter in terms of investment is planning, if a poor man have proper planning with time he can build wealth and still meet the standard of the rich and if a rich man fail to plan properly there is every possibility that he will deplet his wealth with time. So to make a good investment in Bitcoin there is need to have proper planning and itemize your expenditure in respect to your income. So therefore, whether rich or poor every investor needs proper planning and emergency fund to be able to handle other expenses outside their Bitcoin investment.

[Roseline492]

The hack is a big lost to Bybit exchange and to those that were affected. However, the security of wallet is something that every investors must consider before thinking of buying Bitcoin because it determine the safety of your Bitcoin asset. So I would say that Bybit exchange hacking should be a serious warning to investors to be very careful about the kind of wallet they will keep their asset to avoid any uncertainty that will result to losing digital asset to hackers.

Was there hack on bybit exchange?, that's serious, those who look up to the exchange for keeping their portfolio will realize ignorance is bad, I still wonder how they get into bybit, however this will have more negative impact on the traders because some of them doesn't use custodian wallet because exchange is there playground, so I think this is one of the part were holding is good because holding will open you to thought about every way to secure your investment and exchange will not be on the list to keep it.though someone can do other things but should exclude their Bitcoin keeping.

[cryptoWODL]

I agree with you 90% of the time. Everyone needs to have an emergency fund if you are not already a wealthy person. That is, if you are one of the richest people in the world, you may not need an emergency fund. But if you are an ordinary person, then adding an emergency fund to your financial management is the most necessary. You may be having a positive moment in life recently, but will such positive moments last forever? In this case, I would definitely answer no. Because this is not a characteristic of a human life. The characteristic of life is that you will have both ups and downs in your life (potential).

I do not see any alternative to having an emergency fund in your financial management as a plan for such potential moments in life unless you are a billionaire or one of the richest people.

The comments you have mentioned are not reasonable because those who are not only rich people need Emergency funds who told you. In my opinion emergency funds are essential for everyone, even if he is a rich person. Emergency funds are not only necessary for investment, but also in our lives, many times suddenly need a lot of money.

One thing to keep in mind is that at any time in everyone's life, money is suddenly needed, that means hard times are comes, therefore an emergency fund is being created so that everyone can get through that time properly. It is also in the case of investment because when purchasing Bitcoin, when the amount of  cash flow is temporary reduced in our hands, we are able to continue the investment using that fund.

[Futurexxx]

The hack is a big lost to Bybit exchange and to those that were affected. However, the security of wallet is something that every investors must consider before thinking of buying Bitcoin because it determine the safety of your Bitcoin asset. So I would say that Bybit exchange hacking should be a serious warning to investors to be very careful about the kind of wallet they will keep their asset to avoid any uncertainty that will result to losing digital asset to hackers.

Was there hack on bybit exchange?, that's serious, those who look up to the exchange for keeping their portfolio will realize ignorance is bad, I still wonder how they get into bybit, however this will have more negative impact on the traders because some of them doesn't use custodian wallet because exchange is there playground,

Yes, their was a hack on bybit wallet yesterday and the hackers made away with $1.4B worth of ETH, though I was quite impressed that bybit alone was able to cover up for the loss , a loss that only binance can withstand, but I was surprised that they are financially able to withstand such loss and they didn't pause withdrawal on their exchange, kudos to them, hope they learn from this an close any loop hole that grant the  scammers such access.
As for those still saving their asset in an exchange with all this security breach going on, is either they are just ignorant of the danger it poss to their asset or they are just stupid, I hope they learn with This incident that took place, because if bybit wasn't able to cover for the losses themselves, by now, the exchange would have been shot down, and their funds gone or trapped in it.

Finally, those set's of investors staking their asset in an exchange should also learn from this because when staking your asset in an exchange, youe asset will mostly be in the exchange for the duration of time you are staking it, so we see the risk involve?
If your asset is being staked, you also will also  lose you money because if bybit wasn't able to cover up for the losses, everyone would have felt the brunt of what  the hackers did.