Buy the DIP, and HODL!

[Mr_Brilliant$]

If a person has a reasonable source of income and is willing to invest, then he should never delay investing. It is best to start investing first. You can do everything after investing. If you want to learn everything beforehand, then it will be too late to invest, it will never be the right decision. You have to start investing first and then you can learn a lot.

I don't think an investor needs a reasonable source of income to start investing in bitcoin, what an investor needs in other to start investing consistently is a discretionary funds, because their are so many folks out there that are earning quite a lot of money or a reasonable source of income as you claim that still can't invest in bitcoin because they they can't sorts out their discretionary funds, so in my own opinion, what a newbies investor needs in other to start investing in bitcoin is discretionary funds and the basic knowledge on Bitcoin and how to go about your Bitcoin investment.

There is a big difference between reasonable income and discretionary income. The type of income source or the amount of income does not play a significant role in investing. The most important thing is whether the income source can provide you with discretionary money. Even if your income is $10k per month, it will not be suitable for investment if you do not get discretionary money from it. An income source that goes to $1k per month can also be suitable for investment, if it is possible to select discretionary money. That is, the expenditure based on your income will depend on whether your income source is suitable for investment or not. In some places, even though you get high salaries, it becomes difficult to set aside discretionary money due to inflation there. In some places, even though you get low salaries, it is easy to get discretionary money because there is no effect of inflation. This varies from place to place. So, instead of giving importance to the source of income for investment, give importance to the source of discretionary income.

This is actually a solid point Jewan420, and I think one angle people sometimes overlook is the psychology tied to discretionary income… It is not just about whether you have leftover cash, but also how disciplined you are with that money..  Some people make good salaries / income why ever you call it, and still feel broke because every little extra they have, they find a way to spend it.. Others who earn much less manage to build their Bitcoin holdings simply because they understand how to prioritize, cut back on lifestyle inflation (yes lifestyle has inflation, bcus the more you earn, you tend to increase ur style of living), and direct that leftover money into long term investments like Bitcoin..  So, in that sense, discretionary income is less about the numbers and more about mindset and self control. Even in high inflation places, some people still manage to make out discretionary money because they treat investing as non negotiable, almost like another bill they have to pay..

Another angle I see is that discretionary income also reflects opportunity cost. For example, two people might both have $500 left after expenses, but one sees that $500 as extra to spend, while the other sees it as seed capital for their Bitcoin future.. The way you frame your discretionary money determines whether it builds you or just disappears. That is why I feel the key is not only about having discretionary income, it is about what role you assign to it in your life.. If you see it as just casual spending money, you will always miss the chance to grow your portfolio. But if you dedicate it into something like Bitcoin with a long mindset, it would pay off.. So yes, the source of discretionary income matters, but the intention behind how you treat it might actually be the biggest difference..

[Wind_FURY]

There is a saying in our native language, from whatever you earn, keep some part for basic needs and save the rest for the future. Maybe one day you will fall ill and you will be able to remove your illness and lack and basic needs through savings. Exactly, I want to add something more to your words, because a daily wage earner earns some income. And he must keep some part of the income aside for the future, exactly what I want to say is that it is most important to connect those saved money with Bitcoin. Because the more you deposit in Bitcoin, the better you will be able to move forward economically, it is possible to achieve multiple benefits.

If you are a low-income person, you should not invest all your savings. Because as you mentioned, you need to save for the future, but if you invest all your savings, we know that if you invest in Bitcoin, you should hold it for a long time. Now if you invest all your savings, how will you get treatment if you get sick? So after meeting your needs with your income, you should not invest the entire amount, you should keep a fund for emergencies.

A low-income earner can also invest in Bitcoin, but it should not be done by putting all their savings at once. In fact, even a high-income earner should avoid investing all their income in Bitcoin. The simple and most comfortable way, especially for someone with a low income, is to use the DCA method. With DCA, you buy Bitcoin either weekly or monthly, depending on the amount you set aside for continuous investment. At the same time, investment should be done with discretionary income, money you have left after paying your other needs, so you won’t be forced to sell your holdings in difficult times.

That would depend on a few things like marital status, your age, financial stability, amount of savings, where the market is currently in the cycle, and a few more "concerns". But typically, if you have at least six months worth of expenses saved in your bank account, then you could invest the rest of your income.

But if you're single, with no responsibilities, and you see that Bitcoin's price is touching or under the 200-Weekly SMA, then it would be irresponsible NOT to withdraw all of your savings to buy Bitcoin.

I doubt that marital status has much bearing except to the extent to which you might need to consult regarding financial and/or other important life matters.. . but the fact that you are married or not seems almost irrelevant.

Personally, I haven't experienced such matters because I'm not married. But it would probably be safe to assume that a married man should be more careful with his finances now that he's making financial decisions for the both if them. UNLESS, he doesn't tell his wife about his Bitcoin investment.
  

Similar with your seemingly dumbass assumption about a single person without any responsibilities is able to go all into bitcoin based on his perception of BTC prices being below  the 200-WMA, as if that would be sufficient information - including your claim that a newbie attemtp to assess his perception of where we might be in the cycle or not.

Sure there are aspects of your considerations that overlap with relevant considerations, but still seem to be less complete than the 9 individual factors that are likely more relevant categories to consider.

I'm merely speaking from my personal experience, ser.

It's what gave me my success, BUT the actual point is - what gave ME success might not be the same as what might give YOU success because of different life situations like marital status, your age, financial stability, amount of savings, or where the market is currently in the cycle.

       ¯\_(ツ)_/¯

[Bd officer]

Now coming to why you should form an emergency fund and what is its use, basically so that your investment is not irregular, that is why many investors form an emergency fund. The use of an emergency fund is when you have a financial crisis, but your investment may be irregular, so that an investor's Bitcoin investment is not irregular during a financial crisis, that is why those investors form an emergency fund with their own extra money and use it later. 

Once an emergency fund is used, when the financial situation of the person is normal, then the amount of money that he took from the emergency fund and invested in Bitcoin can be added back to the emergency fund. This way, every investor will not have the possibility of irregular investment. Since I have used an emergency fund, I know that this is a really effective strategy for investing in Bitcoin consistently.

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

[Barikui1]

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

Yea, you are right to an extent that investment in Bitcoin consistently is not mandatory, but for you to attain success in your accumulation, you need to be consistent in your accumulation.
Additionally, emergency funds is that funds that stands as the last layer of protection of your Bitcoin investment, so if you don't have it in place, their is a higher probability that you will be unable to hold onto your Bitcoin investment on the longer run, so if you are saying that you don't reserve emergency funds to maintain continuity in your Bitcoin investment, you are terribly wrong with that statement, because the primary security to your Bitcoin investment is your emergency funds, and it is that funds that bails you out from real life emergencies that may have warranted you to temper or sell off all your holdings once emergencies strike.
But generally, as an individual, it's unwise not to have an emergency funds because emergencies might strike ( like sickness) and you might not even have the money then to sort it out which is not the best possible situation to be in.

[BitBakerr1]

Now coming to why you should form an emergency fund and what is its use, basically so that your investment is not irregular, that is why many investors form an emergency fund. The use of an emergency fund is when you have a financial crisis, but your investment may be irregular, so that an investor's Bitcoin investment is not irregular during a financial crisis, that is why those investors form an emergency fund with their own extra money and use it later. 

Once an emergency fund is used, when the financial situation of the person is normal, then the amount of money that he took from the emergency fund and invested in Bitcoin can be added back to the emergency fund. This way, every investor will not have the possibility of irregular investment. Since I have used an emergency fund, I know that this is a really effective strategy for investing in Bitcoin consistently.

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

There's one thing most people don't understand whether you are investing in Bitcoin or not you need to have an emergency funds, having an emergency funds is very important in our life, my dad had an emergency funds when I was growing up and till date I still think he's emergency funds is still intact and this emergency funds was used in a lot of situation especially when we are sick he dip hands into the emergency funds to pay for our hospital bills and this has made him not to take loan till date so one of the advantage of having an emergency funds is to prevent you from taking loan, taking loan we always remove a lot of money from you because when you are paying back you pay with interest so whether you are investing on bitcoin or not you are supposed to have an emergency funds because it will save you from a lot of stress and panic when you face an emergency situation that needs to be solved with money.
So whether you are ready to take your bitcoin investment serious or not have an emergency funds.

[SmartCharpa]

Now coming to why you should form an emergency fund and what is its use, basically so that your investment is not irregular, that is why many investors form an emergency fund. The use of an emergency fund is when you have a financial crisis, but your investment may be irregular, so that an investor's Bitcoin investment is not irregular during a financial crisis, that is why those investors form an emergency fund with their own extra money and use it later. 

Once an emergency fund is used, when the financial situation of the person is normal, then the amount of money that he took from the emergency fund and invested in Bitcoin can be added back to the emergency fund. This way, every investor will not have the possibility of irregular investment. Since I have used an emergency fund, I know that this is a really effective strategy for investing in Bitcoin consistently.

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

Sure, many people have tried to ignore the advantages of saving money for emergencies because life may be unpredictable, as you said, sickness or other unexpected things can happen at any time, and if you already have an emergency fund, you will not need to touch your holdings; if you use this strategy, your investment plans will not be affected with other needs.

Of course, emergency funds should not be used for buying Bitcoin or other investments. The target of that money is to make you comfortable whenever you have an emergency, not to be pursuing quick money. Investing should be done with spare funds, not money we might need tomorrow, that is why it is important to keep your emergency savings aside from investment funds, which allows you to be consistent and avoid unnecessary risk.

[Miramax12]

If a person has a reasonable source of income and is willing to invest, then he should never delay investing. It is best to start investing first. You can do everything after investing. If you want to learn everything beforehand, then it will be too late to invest, it will never be the right decision. You have to start investing first and then you can learn a lot.

I don't think an investor needs a reasonable source of income to start investing in bitcoin, what an investor needs in other to start investing consistently is a discretionary funds, because their are so many folks out there that are earning quite a lot of money or a reasonable source of income as you claim that still can't invest in bitcoin because they they can't sorts out their discretionary funds, so in my own opinion, what a newbies investor needs in other to start investing in bitcoin is discretionary funds and the basic knowledge on Bitcoin and how to go about your Bitcoin investment.

There is a big difference between reasonable income and discretionary income. The type of income source or the amount of income does not play a significant role in investing. The most important thing is whether the income source can provide you with discretionary money. Even if your income is $10k per month, it will not be suitable for investment if you do not get discretionary money from it. An income source that goes to $1k per month can also be suitable for investment, if it is possible to select discretionary money. That is, the expenditure based on your income will depend on whether your income source is suitable for investment or not. In some places, even though you get high salaries, it becomes difficult to set aside discretionary money due to inflation there. In some places, even though you get low salaries, it is easy to get discretionary money because there is no effect of inflation. This varies from place to place. So, instead of giving importance to the source of income for investment, give importance to the source of discretionary income.

This is actually a solid point Jewan420, and I think one angle people sometimes overlook is the psychology tied to discretionary income… It is not just about whether you have leftover cash, but also how disciplined you are with that money..  Some people make good salaries / income why ever you call it, and still feel broke because every little extra they have, they find a way to spend it.. Others who earn much less manage to build their Bitcoin holdings simply because they understand how to prioritize, cut back on lifestyle inflation (yes lifestyle has inflation, bcus the more you earn, you tend to increase ur style of living), and direct that leftover money into long term investments like Bitcoin..  So, in that sense, discretionary income is less about the numbers and more about mindset and self control. Even in high inflation places, some people still manage to make out discretionary money because they treat investing as non negotiable, almost like another bill they have to pay..

Another angle I see is that discretionary income also reflects opportunity cost. For example, two people might both have $500 left after expenses, but one sees that $500 as extra to spend, while the other sees it as seed capital for their Bitcoin future.. The way you frame your discretionary money determines whether it builds you or just disappears. That is why I feel the key is not only about having discretionary income, it is about what role you assign to it in your life.. If you see it as just casual spending money, you will always miss the chance to grow your portfolio. But if you dedicate it into something like Bitcoin with a long mindset, it would pay off.. So yes, the source of discretionary income matters, but the intention behind how you treat it might actually be the biggest difference..

Having a steady or reasonable income does not actually speak to investing power, it all comes down to discretionary funds money you can actually afford to set aside without disrupting your daily needs. so many people earn well but struggle to invest because their expenses take priority, also your point about inflation and cost of living is so important. even with the money you have not just how much modest income if you manage your expenses well and have some discretionary money, you can start investing in Bitcoin or any asset having a solid understanding of Bitcoin and how to navigate the market is the key knowledge, at the end of the day it's about making smart choices with the you have, not just how much you earn.

[ultrloa]

Now coming to why you should form an emergency fund and what is its use, basically so that your investment is not irregular, that is why many investors form an emergency fund. The use of an emergency fund is when you have a financial crisis, but your investment may be irregular, so that an investor's Bitcoin investment is not irregular during a financial crisis, that is why those investors form an emergency fund with their own extra money and use it later. 

Once an emergency fund is used, when the financial situation of the person is normal, then the amount of money that he took from the emergency fund and invested in Bitcoin can be added back to the emergency fund. This way, every investor will not have the possibility of irregular investment. Since I have used an emergency fund, I know that this is a really effective strategy for investing in Bitcoin consistently.

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

Its a financial foundation that can save us on future troubles. People should not think that they need it if they only invest on Bitcoin only since that funds could save them up on any emergency cases even if they are not investing on Bitcoin.

What good thing about this situation out here is we learn the importance of having this funds. That's why its good to learn Bitcoin since aside that we could earn from it on future, it teach us those discipline that we need so that we can possibly live a comfortable life in future. We should never use that funds for investment since as the name emergency it should be use for that situations.

 

[Alonso_]

If a person has a reasonable source of income and is willing to invest, then he should never delay investing. It is best to start investing first. You can do everything after investing. If you want to learn everything beforehand, then it will be too late to invest, it will never be the right decision. You have to start investing first and then you can learn a lot.

I don't think an investor needs a reasonable source of income to start investing in bitcoin, what an investor needs in other to start investing consistently is a discretionary funds, because their are so many folks out there that are earning quite a lot of money or a reasonable source of income as you claim that still can't invest in bitcoin because they they can't sorts out their discretionary funds, so in my own opinion, what a newbies investor needs in other to start investing in bitcoin is discretionary funds and the basic knowledge on Bitcoin and how to go about your Bitcoin investment.

That is absolutely true, I don’t need a reasonable source of income to start investing in bitcoin, instead what I require to start investing is just a discretionary income, that is why as little as our discretionary income we can actually start investing instead of thinking we need a lot of big money, either way there is still nothing bad if we can invest a huge amount of money, if we have an opportunity for that we can invest through the lump sum, I know there are some fellows who have an income, but doesn’t have a discretionary income as their leftover money and they can’t accumulate or buy Bitcoin, that is why it’s important to to have a discretionary income, which is the most important thing to start investing.

[Loyang]

That is absolutely true, I don’t need a reasonable source of income to start investing in bitcoin, instead what I require to start investing is just a discretionary income, that is why as little as our discretionary income we can actually start investing instead of thinking we need a lot of big money, either way there is still nothing bad if we can invest a huge amount of money, if we have an opportunity for that we can invest through the lump sum, I know there are some fellows who have an income, but doesn’t have a discretionary income as their leftover money and they can’t accumulate or buy Bitcoin, that is why it’s important to to have a discretionary income, which is the most important thing to start investing.

Your comment seems a bit confusing to me. We should always continue to buy based on our financial situation. It would never be a good idea for us to borrow money from someone to invest. We should always continue to buy based on our discretionary income. If we want to buy aggressively then we should buy based on our financial situation.

To invest we need to have basic knowledge about Bitcoin and a source of discretionary income. If you don't know what Bitcoin is and why its price increases then how do you invest. And how do you build trust in Bitcoin. To invest you need a source of discretionary income and basic knowledge about Bitcoin.

[ruykeri]

If a person has a reasonable source of income and is willing to invest, then he should never delay investing. It is best to start investing first. You can do everything after investing. If you want to learn everything beforehand, then it will be too late to invest, it will never be the right decision. You have to start investing first and then you can learn a lot.

I don't think an investor needs a reasonable source of income to start investing in bitcoin, what an investor needs in other to start investing consistently is a discretionary funds, because their are so many folks out there that are earning quite a lot of money or a reasonable source of income as you claim that still can't invest in bitcoin because they they can't sorts out their discretionary funds, so in my own opinion, what a newbies investor needs in other to start investing in bitcoin is discretionary funds and the basic knowledge on Bitcoin and how to go about your Bitcoin investment.

If a person does not have any source of income, how will his discretionary fund be created? If someone wants to invest in Bitcoin, then he must first have an income source. After that, he must have discretionary income. Which will survive after all the expenses of his family. He will invest with that extra money. If someone does not have income, then he will not have a discretionary fund and if he does not have it, it will not be right for him to invest. Without discretionary income, if you use your own needed money or borrow money from somewhere and invest in Bitcoin, it will be trading or gambling. If you invest in Bitcoin and continue to invest for a long time without selling Bitcoin, then it is possible to get a lot of profit.

[Jewan420]

Its a financial foundation that can save us on future troubles. People should not think that they need it if they only invest on Bitcoin only since that funds could save them up on any emergency cases even if they are not investing on Bitcoin.
What good thing about this situation out here is we learn the importance of having this funds. That's why its good to learn Bitcoin since aside that we could earn from it on future, it teach us those discipline that we need so that we can possibly live a comfortable life in future. We should never use that funds for investment since as the name emergency it should be use for that situations.

Backup funds are not only necessary for investment but also make real life easier. So it would be wrong to say that there is no need for backup funds outside of investment. Your knowledge about financial management will tell you what kind of steps you should take and how to prepare to keep your future life beautiful. For this, it is essential to have good knowledge about financial management.

Backup funds become somewhat mandatory when you are investing. Especially without emergency funds, it becomes somewhat impossible for you to survive in long-term investments. To sustain investments in the long term and improve the quality of life, you should have a deep knowledge of financial management and take steps. Especially backup funds should not be ignored in any way when you are investing.

[sotelorene]

If a person has a reasonable source of income and is willing to invest, then he should never delay investing. It is best to start investing first. You can do everything after investing. If you want to learn everything beforehand, then it will be too late to invest, it will never be the right decision. You have to start investing first and then you can learn a lot.

I don't think an investor needs a reasonable source of income to start investing in bitcoin, what an investor needs in other to start investing consistently is a discretionary funds, because their are so many folks out there that are earning quite a lot of money or a reasonable source of income as you claim that still can't invest in bitcoin because they they can't sorts out their discretionary funds, so in my own opinion, what a newbies investor needs in other to start investing in bitcoin is discretionary funds and the basic knowledge on Bitcoin and how to go about your Bitcoin investment.

That is absolutely true, I don’t need a reasonable source of income to start investing in bitcoin, instead what I require to start investing is just a discretionary income, that is why as little as our discretionary income we can actually start investing instead of thinking we need a lot of big money, either way there is still nothing bad if we can invest a huge amount of money, if we have an opportunity for that we can invest through the lump sum, I know there are some fellows who have an income, but doesn’t have a discretionary income as their leftover money and they can’t accumulate or buy Bitcoin, that is why it’s important to to have a discretionary income, which is the most important thing to start investing.

You are correct but it is not just about having a discretionary that is the issue but rather having the mindset to invest and to hold for a long period of time. You can have a discretionary without a good investing mindset and if you don't have a good investing mindset then it is possible for that person not to do well in the cause of his investment. You must be willing and ready to invest to invest in Bitcoin and hold for a long period of time before thinking of discretionary. Good source of income some times matters because bad source of income sometimes affect our rate of investment.

[Lembo69]

Now coming to why you should form an emergency fund and what is its use, basically so that your investment is not irregular, that is why many investors form an emergency fund. The use of an emergency fund is when you have a financial crisis, but your investment may be irregular, so that an investor's Bitcoin investment is not irregular during a financial crisis, that is why those investors form an emergency fund with their own extra money and use it later. 

Once an emergency fund is used, when the financial situation of the person is normal, then the amount of money that he took from the emergency fund and invested in Bitcoin can be added back to the emergency fund. This way, every investor will not have the possibility of irregular investment. Since I have used an emergency fund, I know that this is a really effective strategy for investing in Bitcoin consistently.

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

Many kinds of worries and worries eat away at us in our lives. An emergency fund is to save us from these frustrations and worries. Having an emergency fund will reduce a lot of stress in your life. Suppose you are a worker and your leg is broken in an accident, then you have no income, at that moment your emergency fund will be by your side like a trusted friend. And you can be a little more relaxed. Apart from investment, emergency fund is very important in a person's life. People make wrong decisions more often, once in anger, twice in (sadness) in times of trouble or instability.
Such and bad times come in a person's life, due to some accident, he has to sell his land and property. If he has an emergency fund, then he does not have to take such steps.

Many people do not understand what to do in an emergency. Then they may sell their investments or some of their valuable things. And after losing them, they start regretting why they did not keep an emergency fund. Therefore, it is important to keep an emergency fund even if it is to free your life from frustration in advance. Having an emergency fund is as important as having an umbrella for rainy days and a blanket for cold days.

[GIF-JOBS]

If a person has a reasonable source of income and is willing to invest, then he should never delay investing. It is best to start investing first. You can do everything after investing. If you want to learn everything beforehand, then it will be too late to invest, it will never be the right decision. You have to start investing first and then you can learn a lot.

I don't think an investor needs a reasonable source of income to start investing in bitcoin, what an investor needs in other to start investing consistently is a discretionary funds, because their are so many folks out there that are earning quite a lot of money or a reasonable source of income as you claim that still can't invest in bitcoin because they they can't sorts out their discretionary funds, so in my own opinion, what a newbies investor needs in other to start investing in bitcoin is discretionary funds and the basic knowledge on Bitcoin and how to go about your Bitcoin investment.

That is absolutely true, I don’t need a reasonable source of income to start investing in bitcoin, instead what I require to start investing is just a discretionary income, that is why as little as our discretionary income we can actually start investing instead of thinking we need a lot of big money, either way there is still nothing bad if we can invest a huge amount of money, if we have an opportunity for that we can invest through the lump sum, I know there are some fellows who have an income, but doesn’t have a discretionary income as their leftover money and they can’t accumulate or buy Bitcoin, that is why it’s important to to have a discretionary income, which is the most important thing to start investing.

You are correct but it is not just about having a discretionary that is the issue but rather having the mindset to invest and to hold for a long period of time. You can have a discretionary without a good investing mindset and if you don't have a good investing mindset then it is possible for that person not to do well in the cause of his investment. You must be willing and ready to invest to invest in Bitcoin and hold for a long period of time before thinking of discretionary. Good source of income some times matters because bad source of income sometimes affect our rate of investment.

Everything is important here, to maintain Bitcoin investment effectively, patience, long-term mindset, stable income sources, discretionary income, emergency funds, reserve funds, everything is needed, and you need to have the right knowledge about Bitcoin, so that you do not panic during times of instability. But here everything has to be achieved step by step, that is, you have to get everything together and then start investing, there is no such thing as it.

If we think about the initial stage, that is, what is needed first to start investing in Bitcoin, you need to gain general knowledge about Bitcoin, have a long-term mindset, and arrange a certain amount of money that you can deposit Bitcoin through DCA on a weekly or monthly basis, this is enough to start investing.

And then you can prepare everything step by step over time, like creating an emergency fund is the most important thing, it is necessary to prepare an emergency fund within two to three months after starting investing, and yes, of course, you must maintain a long-term mindset as well as keep your source of income stable, because you have to maintain consistency here, if you do not have a stable income, then you will not be able to maintain the continuity of your investments, and to maintain this consistency, you have to prepare a sustainable income, and invest in Bitcoin only through discretionary income, so that your Bitcoin holdings are not damaged under any circumstances.

[Silikiem]

That is absolutely true, I don’t need a reasonable source of income to start investing in bitcoin, instead what I require to start investing is just a discretionary income, that is why as little as our discretionary income we can actually start investing instead of thinking we need a lot of big money, either way there is still nothing bad if we can invest a huge amount of money, if we have an opportunity for that we can invest through the lump sum, I know there are some fellows who have an income, but doesn’t have a discretionary income as their leftover money and they can’t accumulate or buy Bitcoin, that is why it’s important to to have a discretionary income, which is the most important thing to start investing.

Your comment seems a bit confusing to me. We should always continue to buy based on our financial situation. It would never be a good idea for us to borrow money from someone to invest. We should always continue to buy based on our discretionary income. If we want to buy aggressively then we should buy based on our financial situation.

To invest we need to have basic knowledge about Bitcoin and a source of discretionary income. If you don't know what Bitcoin is and why its price increases then how do you invest. And how do you build trust in Bitcoin. To invest you need a source of discretionary income and basic knowledge about Bitcoin.

@loyang, there’s nothing to be confused about Alonso’s statement because the both of you are still on the same page from my very point of view after going through the both comments. Alonso clearly did not advise you to borrow money from someone to invest in bitcoin, he only talked about how you can also decide to invest with a huge amount  of cash if you have the opportunity to as far as you’re doing it from your discretionary income and it’s not going to affect you in the future by leading you to some sorts of financial crisis there by tending to selling your holdings, the point is to accumulate it and hold for the long term goal without panicking to sell whenever you notice a little downturn in the market. He made mention of it by lump summing, Maybe you’ve never heard of lump sum as also a method of accumulating bitcoin and not only accumulating through the DCA method. Yes, you can decide to increase or lump sum your  accumulation rate depending on individuals level of income and risk tolerance.

[JayJuanGee]

There is a saying in our native language, from whatever you earn, keep some part for basic needs and save the rest for the future. Maybe one day you will fall ill and you will be able to remove your illness and lack and basic needs through savings. Exactly, I want to add something more to your words, because a daily wage earner earns some income. And he must keep some part of the income aside for the future, exactly what I want to say is that it is most important to connect those saved money with Bitcoin. Because the more you deposit in Bitcoin, the better you will be able to move forward economically, it is possible to achieve multiple benefits.

If you are a low-income person, you should not invest all your savings. Because as you mentioned, you need to save for the future, but if you invest all your savings, we know that if you invest in Bitcoin, you should hold it for a long time. Now if you invest all your savings, how will you get treatment if you get sick? So after meeting your needs with your income, you should not invest the entire amount, you should keep a fund for emergencies.

A low-income earner can also invest in Bitcoin, but it should not be done by putting all their savings at once. In fact, even a high-income earner should avoid investing all their income in Bitcoin. The simple and most comfortable way, especially for someone with a low income, is to use the DCA method. With DCA, you buy Bitcoin either weekly or monthly, depending on the amount you set aside for continuous investment. At the same time, investment should be done with discretionary income, money you have left after paying your other needs, so you won’t be forced to sell your holdings in difficult times.

That would depend on a few things like marital status, your age, financial stability, amount of savings, where the market is currently in the cycle, and a few more "concerns". But typically, if you have at least six months worth of expenses saved in your bank account, then you could invest the rest of your income.

But if you're single, with no responsibilities, and you see that Bitcoin's price is touching or under the 200-Weekly SMA, then it would be irresponsible NOT to withdraw all of your savings to buy Bitcoin.

I doubt that marital status has much bearing except to the extent to which you might need to consult regarding financial and/or other important life matters.. . but the fact that you are married or not seems almost irrelevant.

Personally, I haven't experienced such matters because I'm not married. But it would probably be safe to assume that a married man should be more careful with his finances now that he's making financial decisions for the both if them. UNLESS, he doesn't tell his wife about his Bitcoin investment.
  

Isn't the question regarding the extent to which a guy's income and/or expenses have become more complicated based on his life situation rather than trying to presume exactly the effect of being married versus being single?  Of course, there can also be guys engaged in businesses, and some businesses are not very complicated or involved - maybe a couple of times a week the guy goes and sells some products (as a side business or maybe he teaches some skill that he has or works as a private consultant), yet there might be guys who have several employees and a variety of relations with vendors for products and/or services, and the more complicated the situation, then the more back up funds he probably needs to have and we don't even necessarily need to assume that his income is going to be so low that he is not able to invest, even though many businesses will be less profitable (and even fail) in their earlier years, so the point is more likely about complication of his finances and/or relationships rather than something like whether he is married or single.  

I suppose I am not disagreeing with your point about being married bringing more potential complications, yet I am objecting how you described being married versus single in such a presumptive way as if a single person is still not going to have obligations merely because he is single.  I don't necessarily disagree with you in regards to the extent to which some decision making might become more complicated with a spouse to the extent that there either might need to get input or at least at minimum the guy might have extra responsibilities in regards to parts of his income that would either go into the joint relationship and/or to support the wife.. and surely there could be situations in which a spouse brings extra income and/or potentially brings more income so the financial aspect is more of a benefit rather than a burden.  Guys have to account for these matters, and we should not presume too much about them unless maybe describe our presumptions.

So for example I could say that I am going to compare two different guys and they have some aspects that are similar and they have some aspects that are different.

They are each in them is in his mid 20s and each has some technical schooling but not university level, so they work as electricians and do some general labor as well... and so they are in similar kinds of work and maybe even have some similar hobbies.. so they have a similar income.. let's say around $25k per year and they expect that if they work hard they can get promotions and raises and perhaps expect 5% to 25% increases in their income depending on their contributions.

One guy has a spouse and the other doesn't.  Maybe the spouse also works around 15-25 hours per week, and maybe she makes around $200 to $300 per week that largely goes towards her own living expenses and so in that sense she is not really contributing, but she is also not really costing anything extra since the guy still pays for housing that is similar to the single guy and maybe if their housing is extra then maybe it costs a bit more and the extra come from the woman's income.. .. and if they are thinking about building a family, they are thinking that she might be able to keep her job, since it is ONLY a part time job that has a sufficient amount of flexibility..  

So I might not know what level of complexity the wife has and if she is costing extra or not.. since she would bring both costs and benefits, as is the case with any relationship.. and sure we could make assumptions, but we shouldn't make assumptions that the wife is full of costs and without benefits, and sure, maybe we can assume that many early businesses are not very profitable, but just saying that a person owns his own business does not necessarily paint the whole picture since we still have to get back to the questions regarding income versus expenses and the more complicated situations may cause more challenges and may even take away from a guy's ability to invest into bitcoin, like you mentioned, but maybe the guy got married in the first place because he had gotten some promotions and he started to earn enough income so that any extra expenses from being married was not going to take away from his other goals, such as investing into bitcoin.
 

Similar with your seemingly dumbass assumption about a single person without any responsibilities is able to go all into bitcoin based on his perception of BTC prices being below  the 200-WMA, as if that would be sufficient information - including your claim that a newbie attemtp to assess his perception of where we might be in the cycle or not.

Sure there are aspects of your considerations that overlap with relevant considerations, but still seem to be less complete than the 9 individual factors that are likely more relevant categories to consider.

I'm merely speaking from my personal experience, ser.

It's what gave me my success, BUT the actual point is - what gave ME success might not be the same as what might give YOU success because of different life situations like marital status, your age, financial stability, amount of savings, or where the market is currently in the cycle.    ¯\_(ツ)_/¯

I probably don't need to repeat myself, since I largely already made my points a couple of times, yet you keep repeating the same categories that are not very fit for describing what we might need to take into account... Let me just attempt to spell it out a bit more clearly.

Marital status ==== is a sub category that is a part of what might contribute to complexities in terms of income/expenses and also decision making.. it is not that great of a category to help to frame what a person needs to think about when investing.

age = this is one of the sub-categories of investment timeline - so sure it is important yet it is only one of the factors that might affect how a person might consider his investment timeline.

financial stability - I am not sure what you are trying to get at here since financial stability has a lot of factors in regards to income and expenses and including cashflow management practices, so sure a person first of all has to figure out the extent to which he has discretionary funds in order to invest, so having discretionary funds can get the investment started, yet continuing to invest might have to do with how much confidence the guy has about future income.  I doubt the term captures what needs to be considered since it is likely too broad if a person is merely thinking about the extent to which his finances are stable or not.. He is not required to have stable income to get started, but to continue investing he would be advantaged by having stable finances, even though it is not required that his finances are stable.. he works with what he has in order to make sure he understands that he is investing within his discretionary income and also that he has back up funds in case he might make some mistakes or that some future expenses might exceed his future income.


Amount of savings - this sounds like a sub-category since when a person comes into bitcoin he might have savings and/or investments that he would take into account in terms of how he might invest into bitcoin or how he might manage his back up funds.. so sure, a guy can start at a certain status and then either maintain some of that or build upon it and/or sometimes reallocate some of what he already has into bitcoin.

Where BTC is in the cycle...   I doubt that trying to figure out the price is important as a category, especially for beginners, yet you surely want to emphasize that kind of thing while at the same time you ignore your own history in that regard. .. when you came to the forum in 2016, you were likely busy learning about bitcoin and trying to figure out how to time the market rather than just getting started buying bitcoin..  So then it ended up taking you right around 3-ish years to buy bitcoin and to buy it on the dip.. and you still rationalize yourself as to being smart for doing that.

You could have had gotten started buying bitcoin between $400 and $2.5k for more than a year between mid-2016 and mid 2017, and surely you could have had attempted to frontload your bitcoin investment in order to get towards the lower end of those prices or at least a decent amount of time that bitcoin was below $900 through most of 2016 and really BTC prices did not go above $1k and stay above $1k until about April 2017... so instead you started buying bitcoin in early 2019 in the $4ks and $5ks and considering that you were getting bitcoin at bargain prices, and sure, relatively speaking those folks who got started in bitcoin in early 2019 were also in a good place to front load their bitcoin investment and perhaps have some lump sum buying amounts to get bitcoin at the lower end of the $4,200 to $12k-ish range that lasted for a bit more than a year and a half.

You still did good to buy bitcoin between 2019 and 2020, but you would have had done even better if you had started buying bitcoin in 2016, so waiting tends to be a worse strategy.. and surely there are guys who ended up starting to buy bitcoin in 2021.. so they have to deal with their having had bought at higher prices than those who started buying in 2022 and 2023.... but still there seems to be an ongoing repeated pattern in bitcoin in which people wait and/or they try to time their buys rather than ongoingly buying bitcoin and building their stash for 4 years or more... Of course you don't need to build over the whole 4 years if you front load your investment.. yet surely if there is a guy who might have $30k to buy bitcoin right now, he might want to consider dividing that up into three parts $10k to buy right away, $10k for DCA and $10k for buying on dips... even though the dips may or may not come.

[Rustam Meraj]

Everything is important here, to maintain Bitcoin investment effectively, patience, long-term mindset, stable income sources, discretionary income, emergency funds, reserve funds, everything is needed, and you need to have the right knowledge about Bitcoin, so that you do not panic during times of instability. But here everything has to be achieved step by step, that is, you have to get everything together and then start investing, there is no such thing as it.

If we think about the initial stage, that is, what is needed first to start investing in Bitcoin, you need to gain general knowledge about Bitcoin, have a long-term mindset, and arrange a certain amount of money that you can deposit Bitcoin through DCA on a weekly or monthly basis, this is enough to start investing.

And then you can prepare everything step by step over time, like creating an emergency fund is the most important thing, it is necessary to prepare an emergency fund within two to three months after starting investing, and yes, of course, you must maintain a long-term mindset as well as keep your source of income stable, because you have to maintain consistency here, if you do not have a stable income, then you will not be able to maintain the continuity of your investments, and to maintain this consistency, you have to prepare a sustainable income, and invest in Bitcoin only through discretionary income, so that your Bitcoin holdings are not damaged under any circumstances.

Your advice on Bitcoin investing is excellent because it focuses on smart step by step approach. You correctly point out that you do not need perfect financial situation to start. Instead of this you can begin with basic understanding of Bitcoin long term mindset and small and regular investment using Dollar Cost Averaging DCA. Key part of your strategy is using only discretionary income and having stable job which helps you avoid making emotional panicked decisions. And it is also good to build emergency fund soon after you start investing because this shows focus on whole financial health.

[Tungbulu]

There is a saying in our native language, from whatever you earn, keep some part for basic needs and save the rest for the future. Maybe one day you will fall ill and you will be able to remove your illness and lack and basic needs through savings. Exactly, I want to add something more to your words, because a daily wage earner earns some income. And he must keep some part of the income aside for the future, exactly what I want to say is that it is most important to connect those saved money with Bitcoin. Because the more you deposit in Bitcoin, the better you will be able to move forward economically, it is possible to achieve multiple benefits.

If you are a low-income person, you should not invest all your savings. Because as you mentioned, you need to save for the future, but if you invest all your savings, we know that if you invest in Bitcoin, you should hold it for a long time. Now if you invest all your savings, how will you get treatment if you get sick? So after meeting your needs with your income, you should not invest the entire amount, you should keep a fund for emergencies.

A low-income earner can also invest in Bitcoin, but it should not be done by putting all their savings at once. In fact, even a high-income earner should avoid investing all their income in Bitcoin. The simple and most comfortable way, especially for someone with a low income, is to use the DCA method. With DCA, you buy Bitcoin either weekly or monthly, depending on the amount you set aside for continuous investment. At the same time, investment should be done with discretionary income, money you have left after paying your other needs, so you won’t be forced to sell your holdings in difficult times.

That would depend on a few things like marital status, your age, financial stability, amount of savings, where the market is currently in the cycle, and a few more "concerns". But typically, if you have at least six months worth of expenses saved in your bank account, then you could invest the rest of your income.

But if you're single, with no responsibilities, and you see that Bitcoin's price is touching or under the 200-Weekly SMA, then it would be irresponsible NOT to withdraw all of your savings to buy Bitcoin.

I doubt that marital status has much bearing except to the extent to which you might need to consult regarding financial and/or other important life matters.. . but the fact that you are married or not seems almost irrelevant.

Personally, I haven't experienced such matters because I'm not married. But it would probably be safe to assume that a married man should be more careful with his finances now that he's making financial decisions for the both if them. UNLESS, he doesn't tell his wife about his Bitcoin investment.
  

Isn't the question regarding the extent to which a guy's income and/or expenses have become more complicated based on his life situation rather than trying to presume exactly the effect of being married versus being single?  Of course, there can also be guys engaged in businesses, and some businesses are not very complicated or involved - maybe a couple of times a week the guy goes and sells some products (as a side business or maybe he teaches some skill that he has or works as a private consultant), yet there might be guys who have several employees and a variety of relations with vendors for products and/or services, and the more complicated the situation, then the more back up funds he probably needs to have and we don't even necessarily need to assume that his income is going to be so low that he is not able to invest, even though many businesses will be less profitable (and even fail) in their earlier years, so the point is more likely about complication of his finances and/or relationships rather than something like whether he is married or single.  

I suppose I am not disagreeing with your point about being married bringing more potential complications, yet I am objecting how you described being married versus single in such a presumptive way as if a single person is still not going to have obligations merely because he is single.  I don't necessarily disagree with you in regards to the extent to which some decision making might become more complicated with a spouse to the extent that there either might need to get input or at least at minimum the guy might have extra responsibilities in regards to parts of his income that would either go into the joint relationship and/or to support the wife.. and surely there could be situations in which a spouse brings extra income and/or potentially brings more income so the financial aspect is more of a benefit rather than a burden.  Guys have to account for these matters, and we should not presume too much about them unless maybe describe our presumptions.

This here is a very important nuance that most people miss whenever they're making broad comparisons between being single and being married, as it concerns their finances. You're very correct with your thoughts and I completely agree that it's less about the individual's marital status, but more about the complexities of the individual's overall financial situation, which of course as we know can take many forms. Marriage can undoubtedly add some new layers of responsibility and obligations, but that doesn't in anyway imply someone who's not yet married doesn't also have these responsibilities and obligations too. Besides marriage and family, a single person could have other things that might as well demand so much from him, like his business, juggling employees and even the need to balance family responsibilities outside marriage.

So when thinking about financial needs, it makes more sense to think about it in terms of the level of entanglement the individual has, rather than just focusing on the binary aspect of being married or single. Some individuals keep their expenses and work relatively simple, like offering their own services or running a straightforward side business, which may not require so much or be so demanding, while some other individuals decide to take on a much larger ventures that demands ongoing commitment and of course safety nets. The folk with the more intertwined income sources and obligations have more need to hold more backup reserves regardless of their marital status.

And then again, you're also very correct to point out the fact that marriage does have the ability to reshape a person and the equation, and this comes in both directions. In one way, it could potentially complicate matters by introducing some sort of shared responsibilities and expectations, while also looking at it from the other angle, it could also bring stability or some additional income, which can potentially offset some burdens. The key takeaway from this, is to not just go with the assumption that being married automatically reduces one's financial freedom or that life is simpler for single person. Each of these situations uniquely comes with its own variables and the decisions people make about their finances should account for those specific realities and not marital or generic assumptions.

[SPIDERMAN008]

Now coming to why you should form an emergency fund and what is its use, basically so that your investment is not irregular, that is why many investors form an emergency fund. The use of an emergency fund is when you have a financial crisis, but your investment may be irregular, so that an investor's Bitcoin investment is not irregular during a financial crisis, that is why those investors form an emergency fund with their own extra money and use it later. 

Once an emergency fund is used, when the financial situation of the person is normal, then the amount of money that he took from the emergency fund and invested in Bitcoin can be added back to the emergency fund. This way, every investor will not have the possibility of irregular investment. Since I have used an emergency fund, I know that this is a really effective strategy for investing in Bitcoin consistently.

In fact, even if you don't invest in Bitcoin, it's important to create an emergency fund. Emergency funds are created for urgent needs, you may get sick at any moment and you will need money if you are sick, so if you have emergency funds it will not affect your investment. Maybe some investors reserve emergency funds to maintain regular investments, but it seems most investors reserve emergency funds for urgent needs. I personally reserve emergency funds for urgent needs, I do not reserve emergency funds to maintain continuity in investment. I will never buy bitcoins using emergency funds, because investing consistently in bitcoins is not mandatory.

Many kinds of worries and worries eat away at us in our lives. An emergency fund is to save us from these frustrations and worries. Having an emergency fund will reduce a lot of stress in your life. Suppose you are a worker and your leg is broken in an accident, then you have no income, at that moment your emergency fund will be by your side like a trusted friend. And you can be a little more relaxed. Apart from investment, emergency fund is very important in a person's life. People make wrong decisions more often, once in anger, twice in (sadness) in times of trouble or instability.
Such and bad times come in a person's life, due to some accident, he has to sell his land and property. If he has an emergency fund, then he does not have to take such steps.

Many people do not understand what to do in an emergency. Then they may sell their investments or some of their valuable things. And after losing them, they start regretting why they did not keep an emergency fund. Therefore, it is important to keep an emergency fund even if it is to free your life from frustration in advance. Having an emergency fund is as important as having an umbrella for rainy days and a blanket for cold days.

Everyone who has a regular income tries to save some money even after spending it and deposit it as savings. So that in case of any kind of future danger, they can solve it with that money. Or many people save it for their own safety when they will not have a job in their future life. But in the case of investing in Bitcoin, there is a difference in the concept of emergency fund. Because in the case of investing in Bitcoin, it is always the best way to invest with discretionary income. As a result, even if that money is lost or if Bitcoin is invested for a long time, there will be no problem in their personal life. Emergency fund and reserve fund are created to run this Bitcoin investment for a long time. So that if there is any kind of financial problem during the investment, they can solve it by taking money from the emergency fund and reserve fund. As a result, they do not have to sell the Bitcoin they hold.