Buy the DIP, and HODL!

[Catenaccio]

Actually, if the path is investment, of course the capital specifically to run the investment must be there and prepared from the start so that it can be used immediately for that, especially if what you want to buy is Bitcoin where investors will be much better if they can buy it earlier. And for smart investors, I think they will make their own sorting of their money when they want to do something bigger in the long term such as investing in Bitcoin so that the funds that are sorted will really be used for one purpose only and will not be mixed with others because other sectors are also prepared specifically by themselves.

To start your investment, you must have capital but you can start with a small investment capital, and expand it bigger and bigger with time. It's unnecessary to have very big capital that is used for your investment in one purchase or DCA practice.

DCA is a very good strategy by eliminate considerable initial investment capital by allowing you to make your Bitcoin accumulation with time comfortably without much pressure. They can simply work, get money and use part of it - that can be majority or minority of it - for their Bitcoin DCA over time. If they are more intensively in accumulation, they would use the majority of their income for Bitcoin accumulation. Otherwise, they would assign the minority of income to Bitcoin investment over time. Anyway, if they can do DCA with time and maintain it for a long time, it's good for their investment portfolio.

[JayJuanGee]

Of course, no one should invest with non-discretionary income since that would be gambling rather than investing, and yeah, discretionary income can be increased by increasing income and/or decreasing expenses.

Yeah it would seem more like gambling if one goes beyond discretionary income but some times I do have this feeling if we are only buying bitcoin with an amount can afford to loss them doesn't that make it a gambling because we are afraid we might losses them?

I think that if you are investing amounts that you can afford to lose, then by definition that is within discretionary income - since if you are using some amount that you need for your expenses, that is no longer discretionary income and it is no longer an amount that you can afford to lose.

Surely, some guys might mix up the categories and they might even make mistakes and speculate that they are using discretionary income when they really are using their expenses money.. that they need in 3-12 months or some time in the future, but they think that they can just take their chances with bitcoin to increase that money... or at least not lose it.. and that ends up practically playing out as a kind of gamble rather than a trade.

If we might attempt to conceptualize any money that we put into bitcoin to be money that we are not likely to need for 4-10 years or longer, then surely that kinds of conceptualization should help us to frame the timeline that we won't be needing the money to be 4-10 years or longer.. and I have even said several times that the only reason that the framing of the timeline might be less than 10 years  would be based on age and/or health considerations.. otherwise the thinking may well be best considered as 10 years of longer, then in that sense you are not using money that you need for expenses and you are not considering that you are need ing  the money in the next 10 years and maybe even longer and so that should help somewhat with emotions in regards to considering current prices and perhaps even help to motivate guys to just keep stacking away their bitcoin no matter the price for at least a whole cycle or two or more.

lossing can be in many ways but the most fear in this instance is the fear of lossing it to crash or hacks/attacks.

Yes... hopefully we are taking safeguards with our coins, and we are not using 3rd parties that are completely unknown.. and perhaps we are making sure that we regularly are withdrawing from exchanges and putting into our own private wallets, yet at the same time, beginners may need some time, perhaps 6-12 months or more to learn about wallets, especially if some beginners might also be busy in other areas of their lives and they are also spending their early times in bitcoin just learning how to get comfortable investing into bitcoin whether it is $100 per week, $10 per week or some other amount.

I prefer to invest into bitcoin with an amount that I can afford but not the chunks from my discretionary income, if we keep it being only a little of what we can afford to loss to me it's now a gamble which bitcoin is not.

You seem to be describing discretionary income differently than what I am used to, especially since discretionary income is that money that is left over after expenses.. but at the same time within discretionary income, there may be various kinds of things that a guy might want to do on a regular basis.

For example. a guy might:
earn $900 to $2.7k per month with an average around $1,600 per month,
 
his expenses might be $1,100 to $1,500 per month with an average of $1,200,

so his discretionary income varies between -$600 and +$1,600... and the average is that he usually has around $400 per month of discretionary income. 

The guy likely has to completly keep back up funds for the months in which his income is $600 less than his expenses, and even if he prioritizes investing into bitcoin, and he wants to tryto invest $50 per week into bitcoin no matter what, he may well have to make sure that he has enough cushion funds for that.  He also might like to spend around $100 per month on various recreation activities that he has, and he consisders these activities to be important to his psychological and/or social health, even though they are optional.

The guy can budget within his discretionary income if he chooses to invest more than $50 per week into bitcoin, especially during months that he has more income.. yet he still might need to take some time to build up his emergency funds and/or otherkind of back up funds, and surely his emergency funds for three months minimum would not be built based on the average or the minimum expenses, but instead build upon the maximum expenses. so his emergency fund should be at least in the $4,500 territory, even though he does not need to build such emergency fund prior to investing into bitcoin and he can build his bitcoin investment up while he is building up his emergency funds and any other back up funds that he might choose to build up and/or keep.

It is correct that Bitcoin is not an investment for those who have no income, but those who do not have income are certainly children and children can never invest in Bitcoin.

The statement that investing in Bitcoin is not good for people without a source of income does not mean the children. There are a lot of people who want to invest in Bitcoin but have yet to do that due to a lack of jobs. Just that investing in bitcoin needs an ongoing effort.

I am not sure what you mean by ongoing, but you seem to be creating a requirement that does not exist, since investors into bitcoin can do whatever they like in terms of their making bitcoin purchases.

Sure, it may tend to be the case that a lot of folks are best off to be investing into bitcoin every single week from their income, yet people may not necessarily have income and/or expenses and/or even life activities that make it feasible to invest on a regular basis such as every week, so they can just invest into bitcoin from time to time when they conclude that they have enough discretionary income that they are able to put some of it into bitcoin.

We cannot necessarily put requirements on them that they have to have a steady income or that they have to invest every week, otherwise they should not be investing into bitcoin.. since there is no such requirement that they have to have a steady income, and they might invest sporadically into bitcoin and/or they might not follow any kind of a typical pattern of buying bitcoin.

If you don't have a stable source of income, you won't be able to invest weekly or monthly, it will be challenging, and you can sell your holdings anytime you need money.

Of course, many of us suggest that if the person does not have at least a 4-10 year investment timeline, then he is trading rather than investing, so I will agree with that part.  I don't recommend trading and/or gambling with bitcoin, even though some folks might find themselves inclined towards some kind of a shorter timeline of less than 4 years.

Yeah it would seem more like gambling if one goes beyond discretionary income but some times I do have this feeling if we are only buying bitcoin with an amount can afford to loss them doesn't that make it a gambling because we are afraid we might losses them? lossing can be in many ways but the most fear in this instance is the fear of lossing it to crash or hacks/attacks. I prefer to invest into bitcoin with an amount that I can afford but not the chunks from my discretionary income, if we keep it being only a little of what we can afford to loss to me it's now a gamble which bitcoin is not.

Many individuals believe that gambling is only about risking money without knowing what the outcome will be. However, Bitcoin is safe to invest if you understand it. However, if we are investing a small amount of money because we are afraid of losing everything, it may sound like we do not fully trust the investment. And again being careful does not mean gambling, many people view it as managing risks, and you cannot deceive the market while investing in Bitcoin.

 Many times we talk about an investor's level of commitment as being on a spectrum of being whimpy or being aggressive, and so there can be various levels in between and there can be extremes.

People make the choices in regards to where they are going to be in terms of their approach to bitcoin, and some investors who had been fairly whimpy in regards to their bitcoin investment approach had still ended up doing quite well with their bitcoin investment which also leads many of us to recognize that it is better to get at least some bitcoin and to get off zero in order to not be a low coiner, an surely anyone investing into bitcoin has the right to choose whatever level of whimpiness or aggressiveness that they choose to carry out... and surely whimpy investors have likely regretted that they had not been more aggressive, yet we cannot turn back the clock, so guys have to live with the consequences of their chosen levels of aggressiveness.

Of course, no one should invest with non-discretionary income since that would be gambling rather than investing, and yeah, discretionary income can be increased by increasing income and/or decreasing expenses.

Yeah it would seem more like gambling if one goes beyond discretionary income but some times I do have this feeling if we are only buying bitcoin with an amount can afford to loss them doesn't that make it a gambling because we are afraid we might losses them? lossing can be in many ways but the most fear in this instance is the fear of lossing it to crash or hacks/attacks. I prefer to invest into bitcoin with an amount that I can afford but not the chunks from my discretionary income, if we keep it being only a little of what we can afford to loss to me it's now a gamble which bitcoin is not.

Going beyond using our discretional income to accumulate bitcoin might gives us difficulties in maintaining and sustaining  our bitcoin investment for the long term.  As potential investors in Bitcoin,We cannot use cash meant for our personal needs to invest in Bitcoin,it is important we sort out basic needs first from our available funds and whatever is left should be used to buy Bitcoin periodically. Using our discretional income keeps us consistent in accumulating Bitcoin not minding the risks. Sometimes an investor might decide to go aggressive in accumulating Bitcoin but should be doing so within his financial capability and shouldn't go beyond what he can afford to do way because he wants to be aggressive in building his portfolio.

I largely agree to most of what you said here because a Bitcoin investor should only be thinking of investing in Bitcoin true his discretionary income, any money used to invest in Bitcoin outside his discretionary income spell trouble for the longevity of his Bitcoin holdings.
If an individual feels like investing aggressively in Bitcoin, it should only be done from his reserve funds not from the money meant to take care of his basic needs or his emergency funds.

It's not compulsory that you should invest aggressively only from your reserve funds, a bitcoin investor can invest aggressively directly from his discretionary income, the most important thing is that you don't over do it. This is one of the reasons why if you have started your bitcoin investment, you need to look for a way to increase your income by looking for a second means of income or going for a higher degree for promotion at work.

When you have increased your income, you have also increase your financial strength which will allow you invest aggressively with DCA. I prefer investing aggressively with my regular DCA than waiting for the dip to buy cheaper aggressively with my reserve funds. However, your level of aggressiveness depends on the size of your discretionary income. This is why a rich guy has a strong financial strength to invest aggressively than someone who isn't rich.

Your emergency funds is to take care of real life problems and if you invest with your basic needs or your emergency funds, you are gambling

I agree with everything you said Ruttoshi, except level of aggressiveness is how much we choose to invest from our discretionary income, and not how much discretionary income that we have.

Sure a rich person can afford to invest more, but he is not necessarily being more aggressive merely because he is investing more.

Let's say that a poor person has a discretionary income of right around $20 per week and he invests $15 per week into bitcoin, so he is investing 75% of his discretionary income into bitcoin.  That is pretty aggressive.

Let's say that a rich person has a weekly discretionary income of around $2k per week, and he invests $120 into bitcoin (which would be 6% of his discretionary income).. which is pretty whimpy, and even arguably way more whimpy than the poor person, even though he is investing  right around 8x more than the poor person.

[katanic97]

Bitcoin investment never requires deep knowledge about Bitcoin, but it is definitely necessary to acquire general knowledge about Bitcoin, if you want to hold Bitcoin for the long term, then you definitely need to acquire that amount of knowledge, so that you never panic during times of volatility. Knowledge is definitely necessary about Bitcoin, it is never possible to achieve anything good with zero knowledge, in the same way, Bitcoin investment does not require deep knowledge, but general knowledge is definitely required, so that you do not panic during times of volatility and make wrong decisions, and your holding is saved from loss.

In my own understanding, once you have the basic knowledge about Bitcoin and how to accumulation it either through the dca accumulating strategy or lumps sum strategy then you are good to go, along the line you can start seeking deeper knowledge on it so as to know all it entails to be successful as a Bitcoin investor, you don't have to know it all to start, just start once you have the basic knowledge about it.

The most important  things you need before you can start accumulating bitcoin is your discretionary income, having the basics knowledge without you sorting out your discretionary income is not enough., you must be able to know if you have a discretionary income or not After sorting out your discretion ,then you can start accumulating bitcoin using your discretionary income.As per having a basic knowledge, you can be accumulating bitcoin and as the same learning more about it.so the major thing is if you have a discretionary income since it is not advisable for you to invest money for your expenses into bitcoin or money that you will needing within a short interval of time.

It depends, you’re basically right. I know quite a few people personally who have invested their discretionary income into Bitcoin. So, they took a risk hoping to gain. Of course, i wouldn’t recommend this to anyone, and like you said, you need to have discretionary income money you can afford to lose without it causing serious harm.It really varies from person to person some like to take risks, some are greedy, and some "play it smart" by investing little by little and being patient.

[Tungbulu]

Of course, no one should invest with non-discretionary income since that would be gambling rather than investing, and yeah, discretionary income can be increased by increasing income and/or decreasing expenses.

Yeah it would seem more like gambling if one goes beyond discretionary income but some times I do have this feeling if we are only buying bitcoin with an amount can afford to loss them doesn't that make it a gambling because we are afraid we might losses them? lossing can be in many ways but the most fear in this instance is the fear of lossing it to crash or hacks/attacks. I prefer to invest into bitcoin with an amount that I can afford but not the chunks from my discretionary income, if we keep it being only a little of what we can afford to loss to me it's now a gamble which bitcoin is not.

Going beyond using our discretional income to accumulate bitcoin might gives us difficulties in maintaining and sustaining  our bitcoin investment for the long term.  As potential investors in Bitcoin,We cannot use cash meant for our personal needs to invest in Bitcoin,it is important we sort out basic needs first from our available funds and whatever is left should be used to buy Bitcoin periodically. Using our discretional income keeps us consistent in accumulating Bitcoin not minding the risks. Sometimes an investor might decide to go aggressive in accumulating Bitcoin but should be doing so within his financial capability and shouldn't go beyond what he can afford to do way because he wants to be aggressive in building his portfolio.

I largely agree to most of what you said here because a Bitcoin investor should only be thinking of investing in Bitcoin true his discretionary income, any money used to invest in Bitcoin outside his discretionary income spell trouble for the longevity of his Bitcoin holdings.
If an individual feels like investing aggressively in Bitcoin, it should only be done from his reserve funds not from the money meant to take care of his basic needs or his emergency funds.

It's not compulsory that you should invest aggressively only from your reserve funds, a bitcoin investor can invest aggressively directly from his discretionary income, the most important thing is that you don't over do it. This is one of the reasons why if you have started your bitcoin investment, you need to look for a way to increase your income by looking for a second means of income or going for a higher degree for promotion at work.

When you have increased your income, you have also increase your financial strength which will allow you invest aggressively with DCA. I prefer investing aggressively with my regular DCA than waiting for the dip to buy cheaper aggressively with my reserve funds. However, your level of aggressiveness depends on the size of your discretionary income. This is why a rich guy has a strong financial strength to invest aggressively than someone who isn't rich.

Your emergency funds is to take care of real life problems and if you invest with your basic needs or your emergency funds, you are gambling

I agree with everything you said Ruttoshi, except level of aggressiveness is how much we choose to invest from our discretionary income, and not how much discretionary income that we have.

Sure a rich person can afford to invest more, but he is not necessarily being more aggressive merely because he is investing more.

Let's say that a poor person has a discretionary income of right around $20 per week and he invests $15 per week into bitcoin, so he is investing 75% of his discretionary income into bitcoin.  That is pretty aggressive.

Let's say that a rich person has a weekly discretionary income of around $2k per week, and he invests $120 into bitcoin (which would be 6% of his discretionary income).. which is pretty whimpy, and even arguably way more whimpy than the poor person, even though he is investing  right around 8x more than the poor person.

You're absolutely correct. An investor's aggressiveness in Bitcoin accumulation isn't really about the absolute amount invested like most people would think. Honestly i also used to think that aggressiveness was about how large one's weekly allocations to Bitcoin accumulation was, but along the line i got to realize that it was actually how much percentage or proportion that one decides to spend or invest from their discretionary income. The higher the percentage, the higher the aggressiveness, because every individual's discretionary income is never the same, just the same way incomes vary, that's exactly how their discretionary incomes also vary and this perspective emphasizes more on the importance of identifying one's financial circumstances as well as risk tolerance level before making any investment decisions on how aggressive they should be with their accumulation, and not copying someone else's pace simply because you feel it's working out pretty well for him.

The take away point of this illustration is that, investors before choosing their level of aggressiveness should remember that.
1. Investment aggressiveness is about the percentage (%)of one's discretionary income allocated to buying BTC and not really about the absolute amount ($) spent in buying. A higher percentage allocation from one's discretionary income indicates a more aggressive accumulation and a low percentage shows less aggressiveness.
2. An investor's investment choices should be based on his overall financial circumstances, such as their income level, expenses and others. A rich investor may invest a smaller percentage (%) of their discretionary income, while still investing a larger amount ($) than a poor man but this doesn't mean he's more aggressive than the poor man.
3. Every investor has their various individual comfort levels when it comes to risk tolerance. And it's important to understand yours as this would help to choose a better investment strategy.

When talking about Bitcoin investment, this obviously means that regardless of one's financial status, both rich and poor investors should first critically examine, identify and consider their financial circumstances, risk tolerance and also their investment goals before making any investment decisions. This is the only way to adopt a strategy that aligns well with your financial situation and goals.

[Kelward]

I largely agree to most of what you said here because a Bitcoin investor should only be thinking of investing in Bitcoin true his discretionary income, any money used to invest in Bitcoin outside his discretionary income spell trouble for the longevity of his Bitcoin holdings.
If an individual feels like investing aggressively in Bitcoin, it should only be done from his reserve funds not from the money meant to take care of his basic needs or his emergency funds.

Actually, if the path is investment, of course the capital specifically to run the investment must be there and prepared from the start so that it can be used immediately for that, especially if what you want to buy is Bitcoin where investors will be much better if they can buy it earlier. And for smart investors, I think they will make their own sorting of their money when they want to do something bigger in the long term such as investing in Bitcoin so that the funds that are sorted will really be used for one purpose only and will not be mixed with others because other sectors are also prepared specifically by themselves.

Newbies gets very excited when they hear that Bitcoin is a very profitable investment, they will be so much in a hurry to get started that they will ignore important tips like not using money meant for their day to day needs to buy Bitcoin. Most often it ends up in regrets because sooner or later the need for the fund will arise and they will be pushed to sell prematurely if there's no other sources to raise the money that they need.

It makes no sense in engaging in what your income cannot sustain and that is why with my experience I keep advising newbie investors to understand financial management first so that they can have realistic budget for their income. Bitcoin investment is a secondary need and if their is no provision for secondary expenses they should shelve the idea and focus on increasing their income first.

[Cossyblack]

Of course, no one should invest with non-discretionary income since that would be gambling rather than investing, and yeah, discretionary income can be increased by increasing income and/or decreasing expenses.

Yeah it would seem more like gambling if one goes beyond discretionary income but some times I do have this feeling if we are only buying bitcoin with an amount can afford to loss them doesn't that make it a gambling because we are afraid we might losses them? lossing can be in many ways but the most fear in this instance is the fear of lossing it to crash or hacks/attacks. I prefer to invest into bitcoin with an amount that I can afford but not the chunks from my discretionary income, if we keep it being only a little of what we can afford to loss to me it's now a gamble which bitcoin is not.

Going beyond using our discretional income to accumulate bitcoin might gives us difficulties in maintaining and sustaining  our bitcoin investment for the long term.  As potential investors in Bitcoin,We cannot use cash meant for our personal needs to invest in Bitcoin,it is important we sort out basic needs first from our available funds and whatever is left should be used to buy Bitcoin periodically. Using our discretional income keeps us consistent in accumulating Bitcoin not minding the risks. Sometimes an investor might decide to go aggressive in accumulating Bitcoin but should be doing so within his financial capability and shouldn't go beyond what he can afford to do way because he wants to be aggressive in building his portfolio.

Wish you had a good knowledge of this forum and it's wall observers you would have figured out that investing in bitcoin years back was not on discretionary income, there is a popular meme that guys go all in in bitcoin which I'm very partially sure JayJuanGee would be able to remember that guys who were actively investing back then even sold some important stuffs just to invest, we have memes flying around that guys leaved in an empty apartment just few stuffs and his laptop and bitcoin that's all, but guess what after four years of this pain or management, or 8 years of management he is now able to afford everything and still have his investment yet still stacking up, the problem most of you guys in this thread have is that you refused to explore, learn and see things for yourselves but only depends on a few words flying around. you have to take what you want to take you somewhere serious bitcoin is that one thing you can take that seriously and come back 8 years to a top achievement.

Your writeup here doesn't prove anything and it's not even  encouraging. Because you heard of a story of a guy that sold all of his personal stuff to invest in Bitcoin doesn't mean we should start selling ours to invest in Bitcoin or have you sold yours already.

Hope you haven't forgotten that newbies do visits this thread on a daily basis to learn and acquire knowledge about bitcoin . Imagine a newbie after reading from your contribution decided to start selling off his/her  personal valuable properties to invest it all at once into Bitcoin.The truth is after investing everything he had in bitcoin,he wouldn't have any funds left to sustain himself to Carter/ sort out his most of his important basic needs, and it's only a matter of time before he will  starts selling off parts of his Bitcoin portfolio to sustain himself which wouldn't be healthy for his investment.

Sustainability is very important  when it's comes to investing in Bitcoin for the long term. As an investor You must do what it takes be able to sustain yourself financially in other for you to sustain and have a healthy Bitcoin portfolio. We should always focus on ways to sustain our investments while accumulating Bitcoin for the long term and one of such is to invest within our financial capability using our discretional income/ money.  

[Proty]

You seem to be describing discretionary income differently than what I am used to, especially since discretionary income is that money that is left over after expenses.. but at the same time within discretionary income, there may be various kinds of things that a guy might want to do on a regular basis.

For example. a guy might:
earn $900 to $2.7k per month with an average around $1,600 per month,
 
his expenses might be $1,100 to $1,500 per month with an average of $1,200,

so his discretionary income varies between -$600 and +$1,600... and the average is that he usually has around $400 per month of discretionary income.

The guy likely has to completly keep back up funds for the months in which his income is $600 less than his expenses, and even if he prioritizes investing into bitcoin, and he wants to tryto invest $50 per week into bitcoin no matter what, he may well have to make sure that he has enough cushion funds for that.  He also might like to spend around $100 per month on various recreation activities that he has, and he consisders these activities to be important to his psychological and/or social health, even though they are optional.

The guy can budget within his discretionary income if he chooses to invest more than $50 per week into bitcoin, especially during months that he has more income.. yet he still might need to take some time to build up his emergency funds and/or otherkind of back up funds, and surely his emergency funds for three months minimum would not be built based on the average or the minimum expenses, but instead build upon the maximum expenses. so his emergency fund should be at least in the $4,500 territory, even though he does not need to build such emergency fund prior to investing into bitcoin and he can build his bitcoin investment up while he is building up his emergency funds and any other back up funds that he might choose to build up and/or keep.

i so much love the way you have taken time to analyse discretionary income.i quite love the steps you have described by using figures ,makes it easier to be understand. so many individuals fails to  understand that it is really important for one to set a balance between having an emergency funds and bitcoin investment lets assume an individual who's monthly Income is within the range of $1800 on average and the person decided to be keeping $50 on weekly basis to be invested in bitcoin, this will definitely be a great goal and such can be realisable, however from what you have said without a good support or cushion this will definitely be disastrous that is the outcome may not be good when emergency or unforeseen contingency arises.
I so much love the part were you made mentioned of how crucial it is to budget for physiological and social well being, like $100 per month on various recreation.
I believe mental fitness should also be included as part of our financial goals. also targeting $4500 as our emergency funds relying on maximum expenses is achievable and obtainable.

[Ivystar5]

You seem to be describing discretionary income differently than what I am used to,

Of course the point is to inculcate some different narratives from what everyone here used to know. Bitcoin is not some shitty gamble that you only have to invest what you can afford to loss or within a crappy discretionary income. In my opinion what you're used is obviously outdated or even more like the ideas from the scratch of bitcoin when speculations flew all the way wondering if we are still going to have bitcoin around for the next decade but of course we are past that stage and you too JayJuanGee need to evolve in your personal perspective of bitcoin investment to only be within the discretionary income.

[Stable090]

I think those who want to invest in Bitcoin should not delay they should invest as early as possible rather than waiting for a dip.

If you are planning for bitcoin to dump before investing, then I will say the person is not really ready to invest in bitcoin, if you are planning to invest in bitcoin, then the best strategy is DCA, you can keep on accumulating bitcoin gradually, you won’t have to wait for bitcoin to dump before you invest in bitcoin. Just have a specific amount of money which you will be using to invest maybe weekly or monthly(base on how you plan yourself).

There are some people that do always say  they will invest in bitcoin when bitcoin price drops, but no matter how low bitcoin price goes, they will never invest in bitcoin, what they will keep on saying is that bitcoin will dump more, and let me say bitcoin dumps to 1$, they won’t still invest in bitcoin, they will say they want bitcoin to drop more before investing.

[Joy- maker]

I think those who want to invest in Bitcoin should not delay they should invest as early as possible rather than waiting for a dip.

If you are planning for bitcoin to dump before investing, then I will say the person is not really ready to invest in bitcoin, if you are planning to invest in bitcoin, then the best strategy is DCA, you can keep on accumulating bitcoin gradually, you won’t have to wait for bitcoin to dump before you invest in bitcoin. Just have a specific amount of money which you will be using to invest maybe weekly or monthly(base on how you plan yourself).

There are some people that do always say  they will invest in bitcoin when bitcoin price drops, but no matter how low bitcoin price goes, they will never invest in bitcoin, what they will keep on saying is that bitcoin will dump more, and let me say bitcoin dumps to 1$, they won’t still invest in bitcoin, they will say they want bitcoin to drop more before investing.

the truth is anyone with long term focus shouldn't wait for the dips before he or she can start accumulating bitcoin and hold.  Any person who's plan is to hold onto his or her bitcoin investment for 5 to 10 years or more, then the person doesn't have to wait for the dip, he or she can always use the DCA method to get started first.

Waiting  for bitcoin to dip before you can start accumulating bitcoin may delay your investment journey especially when you just getting started with bitcoin or you might even end up not getting started, because bitcoin price most have gone higher which you may start feeling that the bitcoin is too, all in the name of waiting for the dip.

[SOKO-DEKE]

I think those who want to invest in Bitcoin should not delay they should invest as early as possible rather than waiting for a dip.

If you are planning for bitcoin to dump before investing, then I will say the person is not really ready to invest in bitcoin, if you are planning to invest in bitcoin, then the best strategy is DCA, you can keep on accumulating bitcoin gradually, you won’t have to wait for bitcoin to dump before you invest in bitcoin. Just have a specific amount of money which you will be using to invest maybe weekly or monthly(base on how you plan yourself).

There are some people that do always say  they will invest in bitcoin when bitcoin price drops, but no matter how low bitcoin price goes, they will never invest in bitcoin, what they will keep on saying is that bitcoin will dump more, and let me say bitcoin dumps to 1$, they won’t still invest in bitcoin, they will say they want bitcoin to drop more before investing.

This just makes me remember one of my friends who had a plan to invest in Bitcoin. However, he wanted the Bitcoin price to dump before he started investing. He later found it difficult to invest because he was never satisfied with the price at that moment. Even when Bitcoin dropped, he set another price target before he would begin his investment.

This led to a lot of procrastination. The price moved from $50k to $90k before he finally started investing using the DCA (Dollar-Cost Averaging) method, which I later advised him to apply. I told him that continuing to wait for a dip was wasting opportunities that he might not see again.

He regretted not buying when the price was still in the $40k range, but at least he was able to accumulate some Bitcoin once he started using the DCA method. So, it’s better for anyone to start accumulating Bitcoin when they have funds to invest. They shouldn’t waste time waiting for a dip that may never happen. Even if it does, it might not align with their planned price level. Applying the DCA method gives the opportunity to buy Bitcoin at different price levels over time.

[Popkon6]

emergency funds is very important that every bitcoin investor most have but it not that necessary that someone most have emergency funds before it can start it bitcoin investment

IMHO.
It's important that someone has an emergency fund before they invest in any investment or to Bitcoin.
Why? Because if someone spends his emergency fund into investment and they need it for what it is intended for.
You'll get the picture of what will happen next and that's about selling that. So, it will become no use if someone wants to invest for the longer and yet they have to sell it for some unforeseen event.

Having emergency funds is a good idea, but I don't think it's necessary to have it before investing. I think we can plan for that while investing. Having multiple sources of income is something I think is crucial for new investors because it will help them reach their financial goals and allow them to save for emergencies from their income.

Emergency fund is needed only after starting investment, that is why emergency fund is needed where you can continue investing Bitcoin regularly on a weekly basis. Investing Bitcoin according to the DCA method will allow you to buy Bitcoin regularly and you will also be able to hold it for a long time.
If you spend time in illness, then you may refrain from investing because you may not have money saved, then you can invest Bitcoin from emergency fund. Regular DCA method will be followed to deal with danger and to sustain Bitcoin investment for a long time.

[Negotiation]

Emergency fund is needed only after starting investment, that is why emergency fund is needed where you can continue investing Bitcoin regularly on a weekly basis. Investing Bitcoin according to the DCA method will allow you to buy Bitcoin regularly and you will also be able to hold it for a long time.
If you spend time in illness, then you may refrain from investing because you may not have money saved, then you can invest Bitcoin from emergency fund. Regular DCA method will be followed to deal with danger and to sustain Bitcoin investment for a long time.

Your advice is good, but when someone invests in DCA method, he has to take a long term plan like he will continue the investment for the next 10 years and then he will think about the profit (this is my personal opinion).
Now if someone thinks that he will manage the investment for only 1 year and then he will make a good profit from it, then good results may not come. So in this case, long term planning is important.

[I_Anime]

Emergency fund is needed only after starting investment, that is why emergency fund is needed where you can continue investing Bitcoin regularly on a weekly basis. Investing Bitcoin according to the DCA method will allow you to buy Bitcoin regularly and you will also be able to hold it for a long time.
If you spend time in illness, then you may refrain from investing because you may not have money saved, then you can invest Bitcoin from emergency fund. Regular DCA method will be followed to deal with danger and to sustain Bitcoin investment for a long time.

Your advice is good, but when someone invests in DCA method, he has to take a long term plan like he will continue the investment for the next 10 years and then he will think about the profit (this is my personal opinion).
Now if someone thinks that he will manage the investment for only 1 year and then he will make a good profit from it, then good results may not come. So in this case, long term planning is important.

At first you can’t build bitcoin stash in one year , it may definitely takes long for one to build a better stash it all boils down to how aggressive one trend to be with his investment.

In my opinion dca is just the best and is not for those that are not too financially stable , even those that are financially stable can make use of it , for instance you have the amount to buy 2 bitcoin (and that is your target goal ) I will advice you to spread the purchasing with dcaing rather than using lumpsuming , because you be able to purchase at different price interval .

Using both just the best you can start with lumpsum and continues with dcaing to keep buying at different rate either or low .

[Publictalk792]

Many times we talk about an investor's level of commitment as being on a spectrum of being whimpy or being aggressive, and so there can be various levels in between and there can be extremes.

People make the choices in regards to where they are going to be in terms of their approach to bitcoin, and some investors who had been fairly whimpy in regards to their bitcoin investment approach had still ended up doing quite well with their bitcoin investment which also leads many of us to recognize that it is better to get at least some bitcoin and to get off zero in order to not be a low coiner, an surely anyone investing into bitcoin has the right to choose whatever level of whimpiness or aggressiveness that they choose to carry out... and surely whimpy investors have likely regretted that they had not been more aggressive, yet we cannot turn back the clock, so guys have to live with the consequences of their chosen levels of aggressiveness.

You have made great point about how people invest in Bitcoin from being very cautious means whimpy to very bold means aggressive. What is interesting is that even small careful investment in Bitcoin or just owning some of it to get off zero can lead to good returns and help avoid regret of having missed out. While some cautious investors might wish they had been more aggressive later on we can not change past and everyone has to live with their choices. How much risk someone takes with Bitcoin is personal decision based on their comfort with risk and their financial aims so there is no single best way to do it.

[JayJuanGee]

[edited out]

When talking about Bitcoin investment, this obviously means that regardless of one's financial status, both rich and poor investors should first critically examine, identify and consider their financial circumstances, risk tolerance and also their investment goals before making any investment decisions. This is the only way to adopt a strategy that aligns well with your financial situation and goals.

There is a wrong impression to suggest that any investor has to get his shit together prior to getting started investing into bitcoin, since it is quite likely that investors into bitcoin are going to learn and make tweaks along the way, and surely there could be some guys who come to bitcoin investment with a lot of messes in their financial and even their psychological life, yet they can still get started investing into bitcoin and also attempting to improve their financial and/or psychological matters, including working on and fixing (and strengthening) their cashflow systems and practices... and for sure, frequently I suggest that they give consideration to their 9 personal factors, while at the same time, I surely am not suggesting that they need to have all or any of their 9 personal factors in a good place in order to start investing in bitcoin as long as they have determined that they at least have met the minimum requirement of having some discretionary income that allows them to make their first BTC purchase, whether that is $10, $100 or some other amount and whether they continue to invest every week or not.

[edited out]

Newbies gets very excited when they hear that Bitcoin is a very profitable investment, they will be so much in a hurry to get started that they will ignore important tips like not using money meant for their day to day needs to buy Bitcoin. Most often it ends up in regrets because sooner or later the need for the fund will arise and they will be pushed to sell prematurely if there's no other sources to raise the money that they need.

It makes no sense in engaging in what your income cannot sustain and that is why with my experience I keep advising newbie investors to understand financial management first so that they can have realistic budget for their income.

You make it sound too complicated Kelward, since there is not a need that newbies to investing in bitcoin have to have all of their shit together prior to getting started.  Why can't they get started and learn along the way?

Bitcoin investment is a secondary need and if their is no provision for secondary expenses they should shelve the idea and focus on increasing their income first.

You are correct that bitcoin investing is not a primary need, an they can ONLY invest into bitcoin from their discretionary income, so if they invest from money that they need for expenses, then they are likely gambling rather than investing.

And sure I agree with your point about increasing income, even though the formula for increasing discretionary income involves either or both increasing income and/or decreasing expenses, so even though increasing income can be a very good way to go, there also may be ways to become more efficient in ones spending that can also lead to a lot more abilities to have more money to buy more bitcoin.   

[edited out]

Your writeup here doesn't prove anything and it's not even  encouraging. Because you heard of a story of a guy that sold all of his personal stuff to invest in Bitcoin doesn't mean we should start selling ours to invest in Bitcoin or have you sold yours already.

Hope you haven't forgotten that newbies do visits this thread on a daily basis to learn and acquire knowledge about bitcoin . Imagine a newbie after reading from your contribution decided to start selling off his/her  personal valuable properties to invest it all at once into Bitcoin.The truth is after investing everything he had in bitcoin,he wouldn't have any funds left to sustain himself to Carter/ sort out his most of his important basic needs, and it's only a matter of time before he will  starts selling off parts of his Bitcoin portfolio to sustain himself which wouldn't be healthy for his investment.

Sustainability is very important  when it's comes to investing in Bitcoin for the long term. As an investor You must do what it takes be able to sustain yourself financially in other for you to sustain and have a healthy Bitcoin portfolio. We should always focus on ways to sustain our investments while accumulating Bitcoin for the long term and one of such is to invest within our financial capability using our discretional income/ money.  

I think that you make some decent points Cossyblack, and I would also add that many times we need to start out with various basic techniques prior towards engaging in more complicated arrangements, even though surely there could be some guys who realize that they could raise some extra money by selling some of their things, even though selling our things is not really the thing to do first, as you (Cossyblack) seemed to have had suggested.

You seem to be describing discretionary income differently than what I am used to,

Of course the point is to inculcate some different narratives from what everyone here used to know. Bitcoin is not some shitty gamble that you only have to invest what you can afford to loss or within a crappy discretionary income. In my opinion what you're used is obviously outdated or even more like the ideas from the scratch of bitcoin when speculations flew all the way wondering if we are still going to have bitcoin around for the next decade but of course we are past that stage and you too JayJuanGee need to evolve in your personal perspective of bitcoin investment to only be within the discretionary income.

Now you are trying to act like you are smarter than everyone else and that you are supposedly evolved because you are using new and/or innovative ideas.

I am pretty sure that if you go through my historical posts, you are likely to see that there are various ways that my thinking has evolved  in regards to describing bitcoin investment, cashflow management and even ways to valuate bitcoin that might well motivate how to potentially start to sustainably withdraw bitcoin under price-based systems and time-based systems.

It likely is true that some of my ideas have not changed, yet mostly my ways of expressing various ideas have changed, which likely show some growth, while at the same time, I am surely not claiming that I know all of the things and/or proclaiming that I am not still vulnerable to various kinds of mistakes.

In other words, to the extent that your description of investing beyond discretionary income might make sense, then it seems that you are devolving into communicating trading and/or gambling kinds of ideas rather than really sticking with investment, even if you are proclaiming that you are actually investing, but you suggest that you are smarter than others and have come up with ways to supposedly get more value out of your employed money, which hardly seems likely if you are not able to present the matter in ways that are understandable in regards to investing principles rather than fucking around with trading and/or trying to time the market kinds of principles.

Sure, it is true that many of us might be able to generate income from sources that are not within our individual income streams, yet that extra money still would end up falling within the category of discretionary income, even if you are trying to suggest (or act like) you invented some kind of new, innovative and ground-breaking category of supposedly thinking "outside of the box." If a quite a few members are having troubles (including but not limited to yours truly) understand what they hell you are talking about, then I doubt that you are being even close to as innovative as you are wanting to categorize yourself and/or your money management actions.

But, hey whatever, if you believe in your own systems and consider that you are being innovative and ground-breaking, then why would it matter what other guys in these here parts (including but not limited to yours truly) think?

Many times we talk about an investor's level of commitment as being on a spectrum of being whimpy or being aggressive, and so there can be various levels in between and there can be extremes.

People make the choices in regards to where they are going to be in terms of their approach to bitcoin, and some investors who had been fairly whimpy in regards to their bitcoin investment approach had still ended up doing quite well with their bitcoin investment which also leads many of us to recognize that it is better to get at least some bitcoin and to get off zero in order to not be a low coiner, an surely anyone investing into bitcoin has the right to choose whatever level of whimpiness or aggressiveness that they choose to carry out... and surely whimpy investors have likely regretted that they had not been more aggressive, yet we cannot turn back the clock, so guys have to live with the consequences of their chosen levels of aggressiveness.

You have made great point about how people invest in Bitcoin from being very cautious means whimpy to very bold means aggressive. What is interesting is that even small careful investment in Bitcoin or just owning some of it to get off zero can lead to good returns and help avoid regret of having missed out. While some cautious investors might wish they had been more aggressive later on we can not change past and everyone has to live with their choices. How much risk someone takes with Bitcoin is personal decision based on their comfort with risk and their financial aims so there is no single best way to do it.

I frequently like to suggest that guys try to invest in bitcoin as aggressively as they are able to without overdoing it, so in that sense there may be a bit of a better practice, even though at the same time, each guy still has to adjust his level of aggressiveness to his own various personal financial and psychological circumstances.

I am mostly objecting to your seeming inference that "anything is possible," which even though that is true, you still seem to be downplaying the idea that creating some conviction and figuring out ways to be as aggressive as possible would likely be a better path forward, even though guys' definitions regarding what is aggressive and what is not aggressive is likely to have a decent amount of variance.

[Gost ms]

Emergency fund is needed only after starting investment, that is why emergency fund is needed where you can continue investing Bitcoin regularly on a weekly basis. Investing Bitcoin according to the DCA method will allow you to buy Bitcoin regularly and you will also be able to hold it for a long time.
If you spend time in illness, then you may refrain from investing because you may not have money saved, then you can invest Bitcoin from emergency fund. Regular DCA method will be followed to deal with danger and to sustain Bitcoin investment for a long time.

Whether you invest or not, you need to have an emergency fund. You never know when you will have a financial crisis. You never know when you will fall into the middle of a financial disaster, so it is necessary to have an emergency fund to deal with this financial disaster.

DCA method is an investment method through which you can buy Bitcoin at any time at any price. DCA method never helps you to hold your holdings long-term. Holding it long-term depends entirely on you.

It is never right to invest with emergency funds. If you get sick and do not have money to invest, then you can stop investing for a few days, but it is not right to invest with emergency funds. Emergency funds are not always right to take money, when you do not have any money other than emergency funds, you can use emergency funds if you want.

[Barikui1]

Emergency fund is needed only after starting investment, that is why emergency fund is needed where you can continue investing Bitcoin regularly on a weekly basis. Investing Bitcoin according to the DCA method will allow you to buy Bitcoin regularly and you will also be able to hold it for a long time.
If you spend time in illness, then you may refrain from investing because you may not have money saved, then you can invest Bitcoin from emergency fund. Regular DCA method will be followed to deal with danger and to sustain Bitcoin investment for a long time.

Whether you invest or not, you need to have an emergency
It is never right to invest with emergency funds. If you get sick and do not have money to invest, then you can stop investing for a few days, but it is not right to invest with emergency funds. Emergency funds are not always right to take money, when you do not have any money other than emergency funds, you can use emergency funds if you want.

As a Bitcoin investor that really have the intention of being successful in your investment, you really have to know that having an emergency funds is a must, because that's what protect your Bitcoin holdings from any unforseen real life emergencies that may threatens your bitcoin holdings, that's why it should never be tempered with unless their is a serious emergency situation that threatens your bitcoin holdings.
Do not forget that the emergency funds stands as the last layer of protection of your Bitcoin holdings, so if your emergency funds is not there, your Bitcoin holdings is at a risk of being tempered with if any unforseen emergencies arises, so even a cent of our emergency funds should not be used for anything else, except what it's programmed for.

[Ricardo11]

Emergency fund is needed only after starting investment, that is why emergency fund is needed where you can continue investing Bitcoin regularly on a weekly basis. Investing Bitcoin according to the DCA method will allow you to buy Bitcoin regularly and you will also be able to hold it for a long time.
If you spend time in illness, then you may refrain from investing because you may not have money saved, then you can invest Bitcoin from emergency fund. Regular DCA method will be followed to deal with danger and to sustain Bitcoin investment for a long time.

Whether you invest or not, you need to have an emergency
It is never right to invest with emergency funds. If you get sick and do not have money to invest, then you can stop investing for a few days, but it is not right to invest with emergency funds. Emergency funds are not always right to take money, when you do not have any money other than emergency funds, you can use emergency funds if you want.

As a Bitcoin investor that really have the intention of being successful in your investment, you really have to know that having an emergency funds is a must, because that's what protect your Bitcoin holdings from any unforseen real life emergencies that may threatens your bitcoin holdings, that's why it should never be tempered with unless their is a serious emergency situation that threatens your bitcoin holdings.
Do not forget that the emergency funds stands as the last layer of protection of your Bitcoin holdings, so if your emergency funds is not there, your Bitcoin holdings is at a risk of being tempered with if any unforseen emergencies arises, so even a cent of our emergency funds should not be used for anything else, except what it's programmed for.

There is no specific time, that when an emergency situation will come in our daily life, an emergency can always come at any time unexpectedly, so you should always be prepared for such a situation. The emergency fund that you prepare for the safety of Bitcoin cannot be used for anything else, be steadfast in any decision, use it only for the purpose for which you have prepared the emergency fund. If you spend your emergency fund on something else today, and if you have to face an emergency tomorrow, how will you deal with it? Then in that case you will ultimately have to sell your Bitcoin holding. Which can definitely cause a loss, so removing the emergency fund means putting your Bitcoin holding at risk, which can cause a huge loss.

[Bd officer]

DCA method is an investment method through which you can buy Bitcoin at any time at any price. DCA method never helps you to hold your holdings long-term. Holding it long-term depends entirely on you.

Yes long term holding requires long term planning. There are many people who bought bitcoins using DCA method but could not hold them for a long time, it is seen that many panic and sell them. DCA strategy is the way to slowly accumulate bitcoins and DCA strategy is the way to buy bitcoins at an average price. So long term planning is required to hold long term investment, no one can succeed without planning. Before doing any work we need to plan, if you can't hold long term then investing in Bitcoin is not for you, because short term investment can lead to loss instead of profit.