Buy the DIP, and HODL!

[ejikeme24]

When I saw this image, it has a deep meaning to me than people realize..  It is the perfect reminder of how many persons live their lives waiting for the right time that never really comes. We say to ourselves, When I am ready, I will start.. Ready for what exactly? Ready to have the perfect salary? Ready to feel like an expert? Ready until the Bitcoin feels safe? The truth is, time does not wait for any of us, and while we are busy postponing action, life keeps moving forward…

You're very correct those that doesn't know the meaning would just see the picture very common not knowing that the picture is indirectly reminding us about a particular mistake that most people are making, and this mistake is now becoming too common as I have been seeing Alot of people repeating that same mistake.

However, this reminds me of the story about a brazilian man who has been collecting and selling cans to buy bitcoin for 2years, According to the author that  he's closing in on 1BTC.

Source: https://x.com/pete_rizzo_/status/1957092553674662344?t=qU7viJKVH1tbTLIaNapmTQ&s=19


That's to show that whoever that is willing to invest into bitcoin would definitely struggle in all means but not illegal means  to set up a discretionary income to enable him start the accumulation journey. so using a source of income or not being financially stable is just a way of giving too many excuses because I'm sure that this brazilian man did not have a source of income which is why he have decided to go into collecting of cans and just imagine how far he has gone in the accumulation journey, those who are still procrastinating and also giving too many excuses need to learn from this experience.

[Jostern]

When I saw this image, it has a deep meaning to me than people realize..  It is the perfect reminder of how many persons live their lives waiting for the right time that never really comes. We say to ourselves, When I am ready, I will start.. Ready for what exactly? Ready to have the perfect salary? Ready to feel like an expert? Ready until the Bitcoin feels safe? The truth is, time does not wait for any of us, and while we are busy postponing action, life keeps moving forward…

Bitcoin does not even care if you feel ready or not.. It does not care about your excuses or your plans to start someday…. The years you waste waiting will only remind you that the best time to accumulate was always when you first thought about it..  so many people convince themselves that they will stack Bitcoin once they have figured everything out, but by the time they look back, they have wasted a lot of time, they keep working all their lives, while letting the Bitcoin opportunity slipping away..

The reality is that there will never be a perfect moment. You do not need to buy a whole coin. You don’t need to wait until you fully understand every technical detail.. You don’t need to wait until your finances are strong. Start with what you can, when you can, and let consistency build the foundation...

If you keep telling yourself I will start later, you might end up never starting at all.. The image shows it perfectly: from youth to adulthood to old age, then finally to death, waiting for the right time ends with regret. Don’t let your story be the same… The best time to accumulate Bitcoin was yesterday. The next best time is today.. The next next best time is now…

image source

Your message is very interesting, and it’s quite easy to understand for people who are mainly interested in trying waste time and wait for something that we would think and feel that isn’t unprecedented, because people are more likely to have interest in waiting for a dip which is quite an unusual approach to waste time to invest in bitcoin and eventually miss out on opportunities of buying and accumulating bitcoin for a long term plans whatever decision that we take now, will definitely determine our journey in buying and accumulating bitcoin, which is why it’s always emphasized to prioritize getting started instead of waiting forever.

Perhaps we would never get a perfect moments than now in terms of buying and accumulating bitcoin, how about if we decide buying bitcoin now, rather than latar, because as long as we starts buying we have to keep that in mind and continue buying and accumulating bitcoin for future.

The image is an explanation of what most people are doing right now, there is something that is a huge problem in the society and that is procrastination, where people will always wants to prolong things, and it’s also applicable with people’s decisions on when to invest in bitcoin, the challenge is that most people feel that they don’t have enough money or income to invest in bitcoin and they might not know that you’re not investing from our income rather we’re investing from our discretionary income, the best possible thing to do is invest as much as we can with our discretionary income.

[Cgrexp]

I agree with you. You don't need a degree or a mountain of knowledge to invest in Bitcoin. It's a method of keeping the money we save in the bank or normally with ourselves, excluding expenses every month. If we learn a lot about investing and then decide, then we won't invest. The main thing here is to learn slowly from experience rather than learning from books.
Again, if you start with small numbers and wait out the fear, you can gain practical knowledge.
Again, there will be a huge difference between what a person learns in technical matters by reading books or taking institutional education and what a person learns by applying it in real life.
So, until a person does not do the Bitcoin transfer process, wallet exchange, security, etc. on his own, the matter will remain like smoke to him. And everyone learns these things while investing

The importance of learning from experience is immense. I think it is better to know some basic things before you delay in learning so much and then enter assets like Bitcoin. However, entering investments without knowing anything at all can be risky for new investors. New investors can create a money management habit or system before investing and can practice investing step by step. If the family bears all the expenses, then they may have less experience in managing their own expenses. In that case, how much or not the family will be dependent on them can also affect the investment decision. Many people only remember their financial situation but do not actually write it down. It is important to monitor and plan your financial situation. Plan your cash flow so that you have a clearer idea of future expenses and investments. Most adults should have basic financial knowledge. Young people are still learning and need to practice more. If you make mistakes, you will learn from those mistakes and create opportunities for limitations. It is important to spend some time a week learning and practicing financial matters in addition to studying or working. Regular learning and planning based on your own experience can be the key to success.  So start small by knowing the basics, learn and gain experience at the same time, and step by step, these are the safe and sustainable paths.

[HausaBitCkk]

In simple words, if someone wants to invest for a long term or buy in dip and hold, then the total income must be divided into 3 parts. 50% daily expenses + bills and 20% Emergency & Reserve fund, that is, first complete the emergency, then create a reserve and the remaining 30% can be invested and this is the safest long-term investment plan. Now if you want, set up a DCA strategy with your profile for dip buying or long-term holding. If you keep it like this, it will be clear which money is for survival, which is as a buffer and which is for real investment. There are also many other strategies for investment, but this is the one I like the most and I consider it the safest.

You are not in the position to determine how much is your discretionary income but your basic needs and weekly expenses will determine it. If you calculate how much is your basic need and monthly expenses it might be problematic for you to know the right amount of money that is your discretionary income and take not that your discretionary income is what you use to invest in bitcoin and build your emergency funds and other backup funds.

It's not the amount that we love to invest with that we must use to invest in order to avoid using beyond your discretionary income to invest in bitcoin because it will be a waste of time and gambling if after investing with the amount you feel is cool and you end up selling part of your bitcoin because you couldn't meet up with your basic needs and monthly expenses. This is why proper planning and right discretionary income should be figured out before using the money to buy bitcoin.

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

[bullbandit9]

Wow! The post quality of this thread has degraded severely since the last time I posted. WTF! So many terrible and generic posters. @Wind_FURY and @JayJuanGee consider your actions here please, do something. Look at this.

You very correct

Yes, you are right.

You're very correct

Your message is very interesting

The patterns are clear, and this is without even looking deeper in the messages. It is terrible as this thread can be very interesting at times. I've read the past few pages and mostly wasted my time. Maybe 1 or 2 users seem to not be farming merits and spamming but I am not sure about them too.

It definitely need more hype, otherwise it won't pump more because if only the government were to advertise Bitcoin, then they will do it in their own way to control them, because whoever controls the money they have all the power but with Bitcoin, the power shifted in the hands of the holders and they want it back now.

Currently there is zero hype about Bitcoin and crypto. The sentiment is very low among retail. All metrics indicate that. However, that does not have to mean that something is wrong with the market. Something could be wrong with retail, they may just be too poor or too distracted.

[Shadiq]

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Food is a daily need, for which you do not need to save money, but invest the remaining money after meeting your daily needs and keep it for necessary expenses. Rely on discretionary money for investment, savings or building any fund. If you invest more than your discretionary money or try to save in any fund, you may face big losses.

You need to learn to separate discretionary money, discretionary money is that which is left over after meeting your daily needs and which is unnecessary for you or you will not need it for a long time. Investing with this money will artificially reduce the possibility of financial crisis and will help you to be stable even during market volatility. This stability can be further enhanced when you invest according to your means using the DCA strategy. In addition to investments, keep backup funds ready for emergencies so that you can afford to lose your job or during a major accident or medical expenses and keep the investment fund intact.

[Kagaru]

I don't know why the both of you are complicating things for yourselves. But let me try and explain this as simple as I can so you guys can get something right. When an investor get his salary and he removes all the money for family necessities, what he have left is called discretionary income. From that discretionary income he can remove a portion of it to build his emergency funds and his reserved funds. Then he can invest the rest in bitcoin. As times goes on, if the investor sees an opportunity in the market and his salary hasn't come and he doesn't want to miss such an opportunity, he can take money from his reserved funds account to invest in bitcoin and build it back gradually. So yes an investor can buy bitcoin with money from his reserved funds account.

However, I'm still not very confident about using reserve funds to invest in Bitcoin. While it's true that reserve funds are quite flexible and aren't used for emergencies, I personally feel more comfortable investing using only discretionary funds. Because discretionary funds are funds that will not be used for any other purpose.

It's not like am telling you to always turn on your reserved funds every time to buy bitcoin. If you go through my previous post you will understand the instances or circumstances which I said you can turn on your reserved funds to buy bitcoin. This should only happen on special cases where you see an opportunity in the market which you wouldn't want to miss and at that time, your discrictionary income has been exhausted on your previous purchases and you are waiting for your next salary which is not yet due to be paid. (Or your salary is being delayed) In situations like this you can use part of your reserved funds to buy bitcoin. If you didn't know this before, perhaps you just learnt a new thing.

I think you have explained this very well and this is a crucial point that most of the beginner investors fail to understand. The difference between discretionary income and reserved funds is important. Safe money that you can invest without it impacting on your daily living is discretionary income and a reserve is basically a buffer that provides optional flexibility but that it is not free money. Reserved funds should only be applied in investing in exceptional circumstances whereby there is an evident prospect and that you have allocated your discretionary funds elsewhere.

The simplest method of achieving this would be considering your set aside funds as a bridge. To use an example, should Bitcoin crash suddenly before your next paycheck and you have used all your discretionary funds in DCA, it would be logical to use a modest fraction of the reserve to capture the drop. The bottom line is that you need to have an idea on how to refill up on that reserve and that way you do not run out and even lose that safety net.

Another point of view is psychological: the fact that your emergency money has not been used so that you can invest confidently and not panic sell. This will alleviate the stress and you will be able to adhere to the long term strategies rather than acting on impulse. This has been the case in my practise, and it is clear that investors who distinctively isolate discretionary and reserve funds are more regular and less likely to make errors when market optimism and pessimism are at their highest point.

The Journey of bitcoin investment is not a one way ticket, it involves a continuous process and this involves STUDYING to know more about bitcoin and it’s technicalities,  LEARNING new ways of investing (improving on the initial knowledge you started on), You PRACTICE (that’s investing) what you’ve learnt, practice is the only way you know for sure if you have the right knowledge and strategies or not, You PLAN your Finances and make out enough discretionary for your investment purposes (creation of emergency and reserve funds, percentage of discretionary money that goes into bitcoin), from time to time you check out how well you’ve accumulated and what you can improve about your strategy you RE-STRATEGISE if need be and that’s how you grow in this space, and at the end you must have known by experience what works best for you. As you increase and grow in your accumulation, you adapt new strategies, how a newbie is investing isn’t same as an oldie who’s almost close to his over accumulation.
I hope this is more clearer to your understanding.

Your comment will confuse and scare a new person. You don't need much to invest. All you need is basic knowledge about Bitcoin and a source of discretionary income. The way you say it, it seems like investing in Bitcoin is very difficult and you have to know a lot of things to learn. Investing is not really that difficult. You don't need all these things to invest. Make investing easy and it will be very good for a new person. As you said, a person will be scared to invest and will not want to invest.

Sometimes people gets to misunderstand the actual sense of situation when learning how to invest in bitcoin, you don’t necessarily have to acquire all the details to start investing into bitcoin but rather acquiring the little details of how to go about and buy bitcoin into my Bitcoin portfolio and how to maintain the little details of buying and accumulating for a very long term plans that we have in mind, this could actually be a very interesting way of getting started with investing in bitcoin if we have a discretionary, centralized my decision to get started immediately instead of having doubts on learning everything we can start investing and be learning along the way, because we can’t learn everything all at once. And investing in bitcoin aren’t difficult because it’s simple as having a discretionary income to buy bitcoin on a regular basis and to hodl.

You very correct when it comes to Bitcoin investments that you don't you really need to acquire of all the knowledge before you could forward to invest in Bitcoin, because when i came across this particular discussion it reminded me when i was a newbie and then i have gotten the all the full knowledge that i needed but i was opportune to have a discretionary income which help me to start early as i can invest with and it is on this particular thread as i do perus on people posts that i was gathering many ideas on how to go with my Bitcoin investments using DCA strategy because at my beginning i didn't no that DCA strategy all investors in buying Bitcoin small small aggressively without being afraid of losing all you have invested, so i believe once you have a little knowledge on how to go about his Bitcoin portfolio, he should wait till he knows everything before investing in Bitcoin.

Things do not have to be difficult when investing in Bitcoin. You really do not have to know everything to get started. Each little knowledge, a share of disposable income you can afford to invest safely is what counts. The strategy of DCA will help you to start with a small purchase initially and learn progressively as you go. You just get to know with time what will work suit your purposes and then just need to change your strategy. I believe the main trick is to get going, experience and refine your plans over time rather than wait to know everything before you qualify to make your first investment.

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Food is a daily need, for which you do not need to save money, but invest the remaining money after meeting your daily needs and keep it for necessary expenses. Rely on discretionary money for investment, savings or building any fund. If you invest more than your discretionary money or try to save in any fund, you may face big losses.

You need to learn to separate discretionary money, discretionary money is that which is left over after meeting your daily needs and which is unnecessary for you or you will not need it for a long time. Investing with this money will artificially reduce the possibility of financial crisis and will help you to be stable even during market volatility. This stability can be further enhanced when you invest according to your means using the DCA strategy. In addition to investments, keep backup funds ready for emergencies so that you can afford to lose your job or during a major accident or medical expenses and keep the investment fund intact.

It is important to have a long term viewpoint, which must be accompanied by appropriate financial planning. Investing with discretionary money is the safest method of not panicking on a downward spiral of the market or an emergency. Lots of newcomers commit the error of investing that which they require to spend on their daily lives into Bitcoin and that generally goes wrong.

I think this strategy is very practical, when combined with a DCA one. It enables you to invest gradual and without attempting to time the market without touching your emergency and backup funds. Long-term, this will create a financial stability and a strong portfolio of Bitcoin. The moral of the storey is that it is not only the case that you invest wisely by choosing the correct asset but you also spend your money in a manner that ensures that you are not caught in a fix regardless of the market movement.

[noormcs5]

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Food is a daily need, for which you do not need to save money, but invest the remaining money after meeting your daily needs and keep it for necessary expenses. Rely on discretionary money for investment, savings or building any fund. If you invest more than your discretionary money or try to save in any fund, you may face big losses.

You need to learn to separate discretionary money, discretionary money is that which is left over after meeting your daily needs and which is unnecessary for you or you will not need it for a long time. Investing with this money will artificially reduce the possibility of financial crisis and will help you to be stable even during market volatility. This stability can be further enhanced when you invest according to your means using the DCA strategy. In addition to investments, keep backup funds ready for emergencies so that you can afford to lose your job or during a major accident or medical expenses and keep the investment fund intact.

Most people don't have that "extra money" that they could invest in bitcoin for the long term. The majority of people around the world are living hand to mouth and they cannot afford to buy bitcoin or a larger portion of it. Even if they save some money, they do not invest in bitcoin because they feel that the amount they will get with that little money will be way less, and therefore they are tempted to buy altcoins.

And we have seen how the altcoin investors are slaughtered in this bull cycle. No matter how much money we have for crypto investment, the majority of it should go into bitcoin investments.

[Lembo69]

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Food is a daily need, for which you do not need to save money, but invest the remaining money after meeting your daily needs and keep it for necessary expenses. Rely on discretionary money for investment, savings or building any fund. If you invest more than your discretionary money or try to save in any fund, you may face big losses.

You need to learn to separate discretionary money, discretionary money is that which is left over after meeting your daily needs and which is unnecessary for you or you will not need it for a long time. Investing with this money will artificially reduce the possibility of financial crisis and will help you to be stable even during market volatility. This stability can be further enhanced when you invest according to your means using the DCA strategy. In addition to investments, keep backup funds ready for emergencies so that you can afford to lose your job or during a major accident or medical expenses and keep the investment fund intact.

Most people don't have that "extra money" that they could invest in bitcoin for the long term. The majority of people around the world are living hand to mouth and they cannot afford to buy bitcoin or a larger portion of it. Even if they save some money, they do not invest in bitcoin because they feel that the amount they will get with that little money will be way less, and therefore they are tempted to buy altcoins.

And we have seen how the altcoin investors are slaughtered in this bull cycle. No matter how much money we have for crypto investment, the majority of it should go into bitcoin investments.

One wrong decision of yours can be the reason for the destruction of your life. Because if you hear the status of a wrong coin from somewhere or lose money in the hope of more profit, then you will also have to pay the price. Currently, Bitcoin is known as the best currency in cryptocurrency. And most of the people in the world who know Bitcoin make their investments in Bitcoin.

Those who invest in altcoins will soon realize how big a mistake they have made.

If you do not have enough money to buy the investment completely, then there is an easy method for you. DCA strategy, through the DCA strategy, you can buy in stages and increase your portfolio very easily. You just have to be patient and invest. Remember that the end is good for the one who has everything good. So even if you want to make the end beautiful, invest in Bitcoin for the long term.

[Guccho]

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Food is a daily need, for which you do not need to save money, but invest the remaining money after meeting your daily needs and keep it for necessary expenses. Rely on discretionary money for investment, savings or building any fund. If you invest more than your discretionary money or try to save in any fund, you may face big losses.

You need to learn to separate discretionary money, discretionary money is that which is left over after meeting your daily needs and which is unnecessary for you or you will not need it for a long time. Investing with this money will artificially reduce the possibility of financial crisis and will help you to be stable even during market volatility. This stability can be further enhanced when you invest according to your means using the DCA strategy. In addition to investments, keep backup funds ready for emergencies so that you can afford to lose your job or during a major accident or medical expenses and keep the investment fund intact.

Most people don't have that "extra money" that they could invest in bitcoin for the long term. The majority of people around the world are living hand to mouth and they cannot afford to buy bitcoin or a larger portion of it. Even if they save some money, they do not invest in bitcoin because they feel that the amount they will get with that little money will be way less, and therefore they are tempted to buy altcoins.

And we have seen how the altcoin investors are slaughtered in this bull cycle. No matter how much money we have for crypto investment, the majority of it should go into bitcoin investments.

One wrong decision of yours can be the reason for the destruction of your life. Because if you hear the status of a wrong coin from somewhere or lose money in the hope of more profit, then you will also have to pay the price. Currently, Bitcoin is known as the best currency in cryptocurrency. And most of the people in the world who know Bitcoin make their investments in Bitcoin.

Those who invest in altcoins will soon realize how big a mistake they have made.

If you do not have enough money to buy the investment completely, then there is an easy method for you. DCA strategy, through the DCA strategy, you can buy in stages and increase your portfolio very easily. You just have to be patient and invest. Remember that the end is good for the one who has everything good. So even if you want to make the end beautiful, invest in Bitcoin for the long term.

You've made some very valid points, including not investing in something you can't afford, and not being tempted to chase altcoins. For the majority of people, discretionary income is short for the reason that placing money into volatile altcoins can easily result in losses. Focusing on Bitcoin as the primary component of your portfolio makes sense in that it has the longest track record, highest liquidity and lowest risk when compared to most altcoins.

Using a DCA strategy is perfect for those who don't have the ability to invest large amounts of money at one time. It enables accumulation over time, but averages out the price and eases the stress from an attempt to time the market. Coupled with having emergency funds set apart from investment funds, this strategy helps you be patient, avoid panic selling and build a solid long-term Bitcoin portfolio.

[JayJuanGee]

In simple words, if someone wants to invest for a long term or buy in dip and hold, then the total income must be divided into 3 parts. 50% daily expenses + bills and 20% Emergency & Reserve fund, that is, first complete the emergency, then create a reserve and the remaining 30% can be invested and this is the safest long-term investment plan. Now if you want, set up a DCA strategy with your profile for dip buying or long-term holding. If you keep it like this, it will be clear which money is for survival, which is as a buffer and which is for real investment. There are also many other strategies for investment, but this is the one I like the most and I consider it the safest.

You are not in the position to determine how much is your discretionary income but your basic needs and weekly expenses will determine it. If you calculate how much is your basic need and monthly expenses it might be problematic for you to know the right amount of money that is your discretionary income and take not that your discretionary income is what you use to invest in bitcoin and build your emergency funds and other backup funds.

It's not the amount that we love to invest with that we must use to invest in order to avoid using beyond your discretionary income to invest in bitcoin because it will be a waste of time and gambling if after investing with the amount you feel is cool and you end up selling part of your bitcoin because you couldn't meet up with your basic needs and monthly expenses. This is why proper planning and right discretionary income should be figured out before using the money to buy bitcoin.

abaeze needs to figure out his discretionary income first - that is how much money is left after taking care of us basic expenses.

Sure it is possible to just pick random amounts and then it all works out, but many folks are not going to be served by such a gambling kind of an approach.

It is true that some expenses are more basic than others, so sometimes discretionary income could change based on our categorizing of our expenses whether our expenses are basic or discretionary.. If our expenses are basic, then we account for those first.

Once we know our discretionary income then we can potentially allocate some of that discretionary income or even all of it to bitcoin investing, since if we have determined that it is discretionary income, then that means that we can do whatever we want with it including consume, invest and/or hold it as back up funds, yet if we make mistakes, then we might end up having to unduly suffer because of our mistakes, which is part of the reason for investing in the future and also another reason to create and maintain back up funds.

There is no exact formula, yet if we make mistakes and we do not have enough of a cash back up or if we invest too much or too little into bitcoin, then there would likely be consequences for our mistakes.

[sotelorene]

In simple words, if someone wants to invest for a long term or buy in dip and hold, then the total income must be divided into 3 parts. 50% daily expenses + bills and 20% Emergency & Reserve fund, that is, first complete the emergency, then create a reserve and the remaining 30% can be invested and this is the safest long-term investment plan. Now if you want, set up a DCA strategy with your profile for dip buying or long-term holding. If you keep it like this, it will be clear which money is for survival, which is as a buffer and which is for real investment. There are also many other strategies for investment, but this is the one I like the most and I consider it the safest.

You are not in the position to determine how much is your discretionary income but your basic needs and weekly expenses will determine it. If you calculate how much is your basic need and monthly expenses it might be problematic for you to know the right amount of money that is your discretionary income and take not that your discretionary income is what you use to invest in bitcoin and build your emergency funds and other backup funds.

It's not the amount that we love to invest with that we must use to invest in order to avoid using beyond your discretionary income to invest in bitcoin because it will be a waste of time and gambling if after investing with the amount you feel is cool and you end up selling part of your bitcoin because you couldn't meet up with your basic needs and monthly expenses. This is why proper planning and right discretionary income should be figured out before using the money to buy bitcoin.

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Do not be deceived dude even though Bitcoin investment is not all rosey that doesn't mean one will be going through challenge all the time and the way you are sounding, if it was true most persons wouldn't have invested or started Bitcoin investment and some wouldn't have even gone far. Everything is about mindset, preparation, target and etc once all these are been taking care of everything will fall into pleasant places for us, the problem is that some persons don't plan, they don't think outside the box because the ability for you to think outside the box makes you to be smarter and wiser and makes you to be in different level or a level above others. Food stuffs, medical and expense are the first thing to take care of whenever we are been paid.

[Agbamoni]

This picture explains a lot. Procrastination, ignorance and doubt is a killer of success. I wont be surprised that even many people who on daily basis keep steady dialogue in this thread do not have any bitcoin in their portfolio. They will be the ones to regret more because they know the opportunities that comes with holding bitcoin for long term but they failed to invest in it.

[Bigjoe33]

There is no exact formula, yet if we make mistakes and we do not have enough of a cash back up or if we invest too much or too little into bitcoin, then there would likely be consequences for our mistakes.

There's nothing more to it. Every investor must be careful when distributing their discretionary funds either to Bitcoin accumulation or building up back up funds. As you said, it's in the investors sole decision and also only such investor will face the consequences of mistakes were made in during investment period.

Even if it's called discretionary(the cash remaining after settling all basic expenses),we must do proper calculation before deciding either to use all your discretionary for accumulation, or using some portion for investment and some for building up other back up funds, because every decision still lands on the investor either positively or in the negative.  If we invest weigh too much all in the name of discretionary funds, we might fail to build up back up funds which in turn haunts us at some giving time of our investment. So there should be a perfect way of balancing everything to ensure lack of panic even in dips because you because you have built up back up funds that can sustain you plus you want to Hodl for long and also with a target of the amount of Bitcoin you would want to accumulate before thinking of selling any portion.

An investor who fails to understand the concept of discretionary funds plus proper allocation of funds for accumulating Bitcoin using DCA strategy might make or take hasty decisions which might lead to panic sells in the future either during Dips or even in a normal market condition without reaching there initial target.

[Tungbulu]

In simple words, if someone wants to invest for a long term or buy in dip and hold, then the total income must be divided into 3 parts. 50% daily expenses + bills and 20% Emergency & Reserve fund, that is, first complete the emergency, then create a reserve and the remaining 30% can be invested and this is the safest long-term investment plan. Now if you want, set up a DCA strategy with your profile for dip buying or long-term holding. If you keep it like this, it will be clear which money is for survival, which is as a buffer and which is for real investment. There are also many other strategies for investment, but this is the one I like the most and I consider it the safest.

You are not in the position to determine how much is your discretionary income but your basic needs and weekly expenses will determine it. If you calculate how much is your basic need and monthly expenses it might be problematic for you to know the right amount of money that is your discretionary income and take not that your discretionary income is what you use to invest in bitcoin and build your emergency funds and other backup funds.

It's not the amount that we love to invest with that we must use to invest in order to avoid using beyond your discretionary income to invest in bitcoin because it will be a waste of time and gambling if after investing with the amount you feel is cool and you end up selling part of your bitcoin because you couldn't meet up with your basic needs and monthly expenses. This is why proper planning and right discretionary income should be figured out before using the money to buy bitcoin.

abaeze needs to figure out his discretionary income first - that is how much money is left after taking care of us basic expenses.

Sure it is possible to just pick random amounts and then it all works out, but many folks are not going to be served by such a gambling kind of an approach.

It is true that some expenses are more basic than others, so sometimes discretionary income could change based on our categorizing of our expenses whether our expenses are basic or discretionary.. If our expenses are basic, then we account for those first.

Once we know our discretionary income then we can potentially allocate some of that discretionary income or even all of it to bitcoin investing, since if we have determined that it is discretionary income, then that means that we can do whatever we want with it including consume, invest and/or hold it as back up funds, yet if we make mistakes, then we might end up having to unduly suffer because of our mistakes, which is part of the reason for investing in the future and also another reason to create and maintain back up funds.

There is no exact formula, yet if we make mistakes and we do not have enough of a cash back up or if we invest too much or too little into bitcoin, then there would likely be consequences for our mistakes.

I think the way you've outlined your points are just spot on. Randomly throwing money into investment without a particular structure may not always have a specific outcome, sometimes it might actually work out for you, but most people who actually rely on chance rather than a solid plan mostly end up struggling with their investment.

Your point about distinguishing between basic and discretionary expenses was also very much noted. In a situation where a person mistakes or considers a necessary expense to be discretionary, they could potentially end up overinvesting and then later on, struggle to meet up with Essentia expenses, which can be a very tough situation any investor would find himself. And this here is the reason why building clarity around spending categories is just as crucial as deciding how much is okay for you to invest with.

In addition to this. While it's true that discretionary income gives folks some flexibility, it's worth noting that discipline is what makes the difference. The fact that one can actually have the freedom to allocate 100% of their discretionary income to accumulating Bitcoin (which is aggressive enough) doesn't mean that they should always do so. Some folks might actually consider setting aside some part of their discretionary income as a cushion to cover some upcoming short-term expenses and needs, while investing the rest regularly and the investment would still be growing.

Another valid point that should also be noted is adaptation. Life isn't static, change is constant and people can experience constant changes in their income, their expenses,  opportunities and even emergencies. When folks prioritize having a structure for backup funds and investments, it means that it's possible for them to potentially adjust without actually feeling that urge to panic-sell or to acquire loans.
It's true that there's no formula or strategy that's flawless, but discipline, adaptability and of course a well thought out plan can go quite a long way in ensuring that Bitcoin investing fits in an individual's overall financial situation/health.

[Pjcr7]

Yeah I get your point, Bitcoin really is something that even with bans people still find their way around. That’s one thing that makes it unique, it can’t just be stopped.....About sharing holdings, I fully agree with you. Once that kind of info leaks out, it spreads quick and before you know it, wrong people are aware. That kidnapping story you mentioned is a good reminder why privacy matters.

I also think at this stage Bitcoin doesn’t need too much hype anymore. The situation with inflation, governments printing money and people losing trust in banks is already pushing more people to look into it. What helps most now is just guiding those who are curious so they don’t make beginner mistakes with wallets and security.

Bitcoin the father of all crypto, with the adoption of Blockchain, it's found a way to elude traced transactions that we often get from financial institutions like the banks. The beauty of it is that it's not in the hands of government or any private entity but in the hands of it's holders. Governments around the world have finally come to the realisation that they can't stop or ban Bitcoin, in other for them not to be left behind, they have now keyed into the purchase of Bitcoin and are now adding it to their treasury. El Salvador which holds the most Bitcoin globally by any government saw the future in Bitcoin and grabbed the opportunity with both hands. Most countries have seen this initiative and are buying and HODLing Bitcoin for the long run.

[ruykeri]

It is very important to have a long-term perspective to invest in Bitcoin, but there are many obstacles that you have to overcome in the long run. I agree with you. If you invest directly without saving for your essential expenses such as food, medical expenses, etc., you may encounter a different reality. Because when you try to avoid these, you may be forced to sell your long-term Bitcoins if you do not have the money when you need it the most. Not only will you be financially damaged, but you may also lose the ability to invest again in the future.

Food is a daily need, for which you do not need to save money, but invest the remaining money after meeting your daily needs and keep it for necessary expenses. Rely on discretionary money for investment, savings or building any fund. If you invest more than your discretionary money or try to save in any fund, you may face big losses.

You need to learn to separate discretionary money, discretionary money is that which is left over after meeting your daily needs and which is unnecessary for you or you will not need it for a long time. Investing with this money will artificially reduce the possibility of financial crisis and will help you to be stable even during market volatility. This stability can be further enhanced when you invest according to your means using the DCA strategy. In addition to investments, keep backup funds ready for emergencies so that you can afford to lose your job or during a major accident or medical expenses and keep the investment fund intact.

Most people don't have that "extra money" that they could invest in bitcoin for the long term. The majority of people around the world are living hand to mouth and they cannot afford to buy bitcoin or a larger portion of it. Even if they save some money, they do not invest in bitcoin because they feel that the amount they will get with that little money will be way less, and therefore they are tempted to buy altcoins.

And we have seen how the altcoin investors are slaughtered in this bull cycle. No matter how much money we have for crypto investment, the majority of it should go into bitcoin investments.

One wrong decision of yours can be the reason for the destruction of your life. Because if you hear the status of a wrong coin from somewhere or lose money in the hope of more profit, then you will also have to pay the price. Currently, Bitcoin is known as the best currency in cryptocurrency. And most of the people in the world who know Bitcoin make their investments in Bitcoin.

Those who invest in altcoins will soon realize how big a mistake they have made.

If you do not have enough money to buy the investment completely, then there is an easy method for you. DCA strategy, through the DCA strategy, you can buy in stages and increase your portfolio very easily. You just have to be patient and invest. Remember that the end is good for the one who has everything good. So even if you want to make the end beautiful, invest in Bitcoin for the long term.

Whether we have less or more money, we should invest in the right way. There is no relationship between less and more money in investing in the right way. Investing in the DCA method is better than investing in any other way. If someone has more income, they will invest more weekly or monthly, and if someone has less income, they will invest less. It will depend on how much money is left as discretionary income after all their necessary expenses. If a person has a lot of income and a lot of money deposited, if he invests in the lump sum method, but later if the price of Bitcoin decreases relatively, he will miss the opportunity to buy Bitcoin at a low price. In this situation, I personally think that if you have a lot of money deposited, then keep that money instantly as an  emergency fund and reserve fund. then Investing as aggressively as possible follows DCA. This will help set the monetary policy for long-term investment. And if you invest in lump sum, when you invest a lot of money at once, then when the price of Bitcoin decreases, you become mentally unstable, which does not happen if you invest using the DCA method. And if you want to invest in Bitcoin for a long time, you must be mentally stable. You must be patient and keep yourself stable while investing. The minimum investment period should be mentally fixed at 4 to 10 years and more . If you continue investing in this way, it is definitely possible to create your own security in the future.

[UchihaSarada]

This picture explains a lot. Procrastination, ignorance and doubt is a killer of success. I wont be surprised that even many people who on daily basis keep steady dialogue in this thread do not have any bitcoin in their portfolio. They will be the ones to regret more because they know the opportunities that comes with holding bitcoin for long term but they failed to invest in it.

This graphic is interesting that shows the fact about common hesitation of many people. They read news, saw news about Bitcoin many times and each time they had quick thinking like whether they should invest money in bitcoin. Time by time, they let fear and hesitation keeping them stay outside the market. Most of them wasted many months from first months of a bull market start to nearly ending months of a bull market in a market cycle to purchase first bitcoins. This means when they join the market, they buy bitcoins with prices very near its all time high. They will stuck in a bear market and with uncertainty they have in mind, they will panic sell during a bear market, even worse around bottom of a bear market.

Some of them will stay and learn own lessons that a bear market is very good for Bitcoin accumulation. Two years for accumulation while a next market cycle will give them good profit if they can buy, accumuluate and hold their bitcoins for years.

[Silikiem]

Bitcoin the father of all crypto, with the adoption of Blockchain, it's found a way to elude traced transactions that

I think categorizing bitcoin to the level of Crypto still might go a long way towards painting bitcoin image black in the eye of many who may not fancy the word “crypto” due to some past and present experience they’ve got from other shitty coins, most people have got some negative feedback from this shitty coins under crypto and might not want to have anything do with such again, and putting bitcoin in such position might not speak good. Bitcoin is in a world of its own and should better still be put as “bitcoin, the most valuable asset “. And again, saying that bitcoin found a way to Elude traced transactions sounds somewhat contradictory or misleading, because it looks as though there’s something fishy about it that you’re trying to hide because for all I know this should be transparent transaction. And to an extent, the statement is arguable.

[JayJuanGee]

There is no exact formula, yet if we make mistakes and we do not have enough of a cash back up or if we invest too much or too little into bitcoin, then there would likely be consequences for our mistakes.

There's nothing more to it. Every investor must be careful when distributing their discretionary funds either to Bitcoin accumulation or building up back up funds. As you said, it's in the investors sole decision and also only such investor will face the consequences of mistakes were made in during investment period.

Even if it's called discretionary(the cash remaining after settling all basic expenses),we must do proper calculation before deciding either to use all your discretionary for accumulation, or using some portion for investment and some for building up other back up funds, because every decision still lands on the investor either positively or in the negative.  If we invest weigh too much all in the name of discretionary funds, we might fail to build up back up funds which in turn haunts us at some giving time of our investment. So there should be a perfect way of balancing everything to ensure lack of panic even in dips because you because you have built up back up funds that can sustain you plus you want to Hodl for long and also with a target of the amount of Bitcoin you would want to accumulate before thinking of selling any portion.

Even though we are attempting to find a balance that is comfortable, it is probably not correct to consider investing into bitcoin as a form or achieving perfection or that perfection has to be achieved.

There are a lot of ways that we can make mistakes, yet even if we make mistakes we can learn from the mistakes, and if the mistakes are not too BIG, then we would continue to be invested in bitcoin for many years into the future, perhaps for the rest of our lives.

I frequently suggest that guys invest as aggressively as they can without overdoing it, yet if anyone is investing as aggressive as they can, then they are going to need to be more organized than the whimpy investor.

Let's say that a guy with a $30k per year income got into bitcoin 8 years ago, and he had a discretionary income of about $150 per week, yet he decided to get into bitcoin with merely a $10 per week investment, and so over the past 8 years, he would have had invested $4,200 and accumulated right around 0.303  BTC, and if he had invested $100 per week he would have had invested $42k and accumulated 3.03 BTC.

Surely it would be better to be the guy who invested 10x more, yet even the guy who invested merely $10 per week is in a better position for having had invested into bitcoin as compared to if he had not invested in bitcoin.

Also, it could be possible that the guy who invested more aggressively might have had ended up making mistakes with his cashflow, since he was choosing to spend a higher quantity of his discretionary income on bitcoin.
 

An investor who fails to understand the concept of discretionary funds plus proper allocation of funds for accumulating Bitcoin using DCA strategy might make or take hasty decisions which might lead to panic sells in the future either during Dips or even in a normal market condition without reaching there initial target.

We would not want to overdo it or to under do it, yet there is likely no perfect answer regarding what is the best allocation, and a person who is in touch with his actions and trying to learn from his practices will likely have better possible outcomes and even more likely productive tweakings of his investment and/or his cashflows from time to time.

[edited out]

The fact that one can actually have the freedom to allocate 100% of their discretionary income to accumulating Bitcoin (which is aggressive enough) doesn't mean that they should always do so. Some folks might actually consider setting aside some part of their discretionary income as a cushion to cover some upcoming short-term expenses and needs, while investing the rest regularly and the investment would still be growing.

Of course a cushion can be for anything to cover, extra expenses, needs or wants, and maybe a guy keeps one jar that has $500 for emergencies and then he has another jar that he keeps $200 so that he can spend it on whatever he likes, like a night out at the clubs or something like that, and maybe he only splurges once every few months, but it gives him a lot of pleasure to have that $200 to do whatever he likes as a way of treating himself once every 2-3 months.

Now, the longer that he is in bitcoin, and the more solid his bitcoin stash, he might slowly increase each of the jars.. especially the "one for fun," and yeah, maybe he would have had been better off to have had bought bitcoin with that extra money, but he also wants to feel good about his life.  So part of the aspects of "discretionary" funds is that guys can do whatever they want with that money, even dumb shit and even smart shit.  So, their actions have consequences, yet their path might not even be close to perfect, even though each of us likely try to get within a path that is acceptable for us and within consideration of our 9 individual factors.