Buy the DIP, and HODL!

[UchihaSarada]

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time.

You can buy bitcoins several times and think like you are doing Dollar Cost Averaging for your Bitcoin investment portfolio as well as believe that you will be able to hold your bitcoin a long time.

It can work or can not work, and it depends on how did you manage your finance including investment capital. If you use all money you have for investment, and you always have empty pocket after each bitcoin purchase, you will have very weak financial status and balance so that it's harder for you to hold your bitcoin. if you need money for spending, you will have to sell part of your bitcoins.

[DYOR+BTC]

You are very correct, having that financial structure in place, cash flow habits paired with intentional investing really does shift everything. the emergency fund might sit quietly but it is presence gives you the confidence and freedom to take calculated risk elsewhere it is like building offense and defense at the same time.

The thing is that you can still invest without being financially stable . The difference is that folk that are not financially stable investment won’t have same pace with those that are financially stable and stuff . Those with rough cashflow can choose to invest as aggressive as they please because they have enough sources or their sources is enough to cover it up or handle it , so having enough cashflow is very big advantages when come to investing in bitcoin , but still you can still manage if you are not stable financially.

You are right though, higher source of income increases our discretion to invest higher while low income reduces our level of discretion fund and may affect our Bitcoin investment, but however our level of investment into Bitcoin is still determine by individual and there level of aggressiveness or whimpy when it comes to Bitcoin investment. Some guys may have a higher source of income and a good amount of discretion fund but may be whimpy when it comes to Bitcoin investment. While some may have a lower source of income and decide to be aggressive and accumulate more than the other person. So sometimes its a matter of choice or decision and not the level of our source of income. Note that I am not saying that a person with a higher source of income can not invest higher than a lower source of income person, but all I am saying is that it doesn't happens in all cases but in some cases. So let us not see it like those that are not finally stable will not be in thesame pace with those that are stable. I don't know if what I have said is different from what you are saying but from my end that is what I understand.

[ChocolateBitcoinK]

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time.

You can buy bitcoins several times and think like you are doing Dollar Cost Averaging for your Bitcoin investment portfolio as well as believe that you will be able to hold your bitcoin a long time.

It can work or can not work, and it depends on how did you manage your finance including investment capital. If you use all money you have for investment, and you always have empty pocket after each bitcoin purchase, you will have very weak financial status and balance so that it's harder for you to hold your bitcoin. if you need money for spending, you will have to sell part of your bitcoins.

And this is why you should always invest such an amount of money that if invested, it will not cause any financial problems in your daily life, you should deposit Bitcoin through DCA, but after maintaining a balance in all your personal financial management, you should manage DCA with unnecessary money according to your ability to lose. It is not right to buy Bitcoin with money that you may need at any moment, because the money you invest here, you have to hold it for the long term and it cannot be sold under any circumstances, you have to think about this in advance, so in the case of long-term Bitcoin investment, it is important to do DCA in such a way that daily expenses and emergency funds are never disrupted.

[Barikui1]

You can buy bitcoins several times and think like you are doing Dollar Cost Averaging for your Bitcoin investment portfolio as well as believe that you will be able to hold your bitcoin a long time.

It can work or can not work, and it depends on how did you manage your finance including investment capital. If you use all money you have for investment, and you always have empty pocket after each bitcoin purchase, you will have very weak financial status and balance so that it's harder for you to hold your bitcoin. if you need money for spending, you will have to sell part of your bitcoins.

First of all, if the said person is investing from his discretionary income without having an emergency funds in place, then you can assume that his holdings hands will be extremely weak, because if any emergencies arises, he will be forced to sell off or part of it to sort out that financial needs, but if he is investing from his discretionary income and he already have am emergency funds in place, he is in a very strong position to hold on strong because measures is already in place to safeguard his Bitcoin investment against any unforseen circumstances.

Additionally, I want you to take note that regardless of if an investor have an emergency funds or not, if he is investing aggressively with money meant for his basic needs, he will definitely sell or temper with it in the future because when the needs of what that money was intended for arises, he will definitely temper with his holdings just to address that pressing basic needs, so if you are doing the wrong thing by investing with money meant for your basic needs thinking that you emergency funds might bails you out when the needs arises, you are actually gambling and it's a time bomb that will not ends well for your Bitcoin holdings on the longer run.

[JayJuanGee]

[edited out]

I really get your explanation and honestly, you broke it down in a way that makes sense to me now.. Pointing out that there’s a clear difference between an emergency fund that sits to cushion uncertainty, and a dip reserve that could sometimes end up being more about over strategizing than actually building Bitcoin wealth..  and you mentioned the trade offs involved, and I like that point, because the truth is, there is always a cost to every choice, and I had not been considering that side properly when I was making my earlier argument…

The truth is, the reason why I had been thinking that way is because outside of Bitcoin, in my other real world biz, I usually do set aside some money that is not tied to anything urgent.. With the mindset that when a promising deal comes up, something I know could turn out well, I can quickly take advantage of it without disturbing my main funds..  That approach has worked for me in the past, so I just carried that same mentality into Bitcoin as well…. I thought of keeping a little reserve on the side, not to waste, but just to strike when I see a chance. That’s why I was defending the idea so much, because in my normal biz, that is exactly how I operate…

For sure it is good that you have real world experience, because that is going to help you to really engage with the topic and the practice, and through practice, you were probably able to find a balance regarding how much money you might hold on the side and then how much you could draw from that extra money on the side if you had been presented with an opportunity.  You likely realized that you could only draw so far down, and you had to keep some extra cushion just in case you calculated wrong or that other expenses came in or maybe some income did not arrive... so there  tends to be a practical difference between emergency funds that we likely are not going to draw upon and we are likely not going to allow our back up funds (or our reserves) to go below a certain point otherwise we are cutting it too thin, and likely those would be the emergency funds, and perhaps we even had made mistakes in the past when we draw too much from our funds or maybe we miss opportunties because we are afraid to spend some of our reserve funds because we think that we don't have enough to cover the just in case bad things happens extra cushion that we might get used to keeping.  We likely get into a stressful situation if we start to run out of money and if income is not enough to cover all expenses and we start to deplete our back up funds.

But after seeing how you explained it, and also from what yixichloro2xx already pointed out earlier, I can see now that Bitcoin does not really play by those same rules.

Bitcoin is similar to other places that you might put money, yet it tends to be quite volatile, and if we give a priority to trying to hold onto our bitcoin for 4-10 years or longer, then we likely have to maintain even a greater cash cushion than we might have had in our previous practices.. But if we might not be very serious about bitcoin or we want to be sloppy and/or take chances, then we might end up engaged in practices where we are using our bitcoin as our emergency fund, and a lot of guys have historically sold bitcoin too early because they were sloppy in their cashflow management and not keeping enough of a cash cushion, so they end up getting themselves in a place where they have to sell some or all of their bitcoin, and they might even still be selling their bitcoin at a profit, but they might also be selling at a bad time in which the price is prone to go up after they sell and then they end up either not being able to replace the bitcoin  that they sold or they might even give up on bitcoin because they cannot easily get back to the position that they had been at earlier.

Like you said, the dips we expect may not happen, or not in the way we picture them, and holding back too much might end up being a wrong mindset for someone like me still building my stash. It is true that steady accumulation is better than waiting for some perfect entry point..

So I really appreciate the way you broke it down…

You have ONLY been registered on the forum for slightly less than a year and a half, and surely I understand that it can be tough to accumulate bitcoin during a period in which the price is ongoingly going up, and maybe some of us (including you) are not in a position to be able to front load our investment into bitcoin, so we can only really inject extra money as we get it.  Accordingly, it would have had been better to buy earlier, but we did not have money and maybe we were buying as aggressively as we were able to do..

The same is true now.  We cannot really know if a dip is going to happen or not, so we are really stuck with the price as it is, and we might end up screwing up our own focus by thinking about dips that might not end up happening.. Yet, we are still responsible for whatever we decide to do based on what we know, and I really think that it is too difficult to know the price and so many of us might have to just keep our heads down and keep accumulating bitcoin and maybe reevaluate from time to time along the way whether we might want to change our strategy, yet at the same time, we might not really be in a position to know or to change our strategy until we spend a whole cycle or two accumulating bitcoin. 

If you are able to front load your investment and perhaps get a year or two of your expenses into bitcoin in the beginning, then maybe you can shorten your accumulation timeline.  Otherwise, it tends to take a long time to really build any investment, including a bitcoin investment, and sure you are the only one to know the extent to which you might be able to front load your investment or if you are merely just putting somewhere between 5% and 25% of your income into bitcoin and trying to figure out how to build your
BTC stash so that your BTC stash can help to inform you in regards to the extent to which you might need to change your BTC accumulation strategy.

[Tamaperdana]

Waiting for the right downturn is a bad strategy because no one can predict the market, and it can change at any time.  That is why the bitcoin market is frequently referred to as unpredictable; it may change without notice.  To be honest, the dollar cost average has decreased a lot of tension when it comes to accumulating bitcoins, as well as those who are not serious enough to grow their portfolio, which means their lack consistency and patience, which is necessary things in all cryptocurrency.

Yes, waiting for a price drop when buying bitcoin is not the right strategy. Because as you said that bitcoin is difficult to predict the price, so if it is forced to continue waiting for the price of bitcoin to fall, it will certainly cause boredom which will make our enthusiasm for investing in bitcoin diminish. Because basically when the price of bitcoin does not go down as we expected, it is certain that our minds will feel a little disappointed and that is the risk if we wait too long for the price of bitcoin to go down when buying it. So that's why when we already have discretionary funds, we must immediately invest in bitcoun, if we are really serious about investing. Because if we are already too focused on market volatility before investing in bitcoin, I think it is an unfavorable action and waste a lot of momentum. Because basically the volatility of the price of bitcoin is very difficult to predict, because there are millions of people every second who make transactions in bitcoin, so that's why the price is very difficult to predict. So DCA is really the solution to all this.

I don't necessarily think that the problem about waiting for the dip is about being bored or not, the problem of waiting for a dip before buying is that you may miss so many buying opportunities that may present itself in the market, and it's even more unwise if you are seriously lacking behind in your accumulation journey, because no one can determine the next destination of the market, so if you are waiting for a dip, the particular one you are waiting for may never come, so it's never a good strategy to wait for the dip before buying.
The best thing to do is to buy and accumulate once you discretionary income is available and if along the line their is a dip in the market, you might still buy or accumulate aggressively, but waiting for it is not the best way to accumulate a huge stash of Bitcoin.

I think when we wait for a price drop that might never happen in Bitcoin, psychological we'll get very bored, and ultimately, that will make us reconsider whether or not to invest in Bitcoin. So, the boredom I'm referring to here is the psychological impact we'll feel, and the impact in other contexts. Waiting for a price drop when buying Bitcoin will certainly waste a lot of momentum. I think I mentioned this in my post, so please read it more carefully.

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time. However, we will give more importance to income or income, just as much importance should be given to Bitcoin, the more income sources, the stronger the Bitcoin investment, the more long-term and aggressively it will be possible to buy and hold Bitcoin.
For this reason, income is very important for us to buy Bitcoin, but investing in Bitcoin is as easy as it is to sustain. Because sometimes we have to face danger in the long run, it is very important to use emergency funds to counteract this danger.

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

[Proty]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

[arwin100]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

But actually they don't need to think about that having multiple source of income is needed before they could start on their long term investment journey. Since somehow they could start with the amount they currently have.

They can work it out to have multiple income stream and increase their discretionary income later on especially if they are eager to find multiple source to cater everything they need.

What's important at first is they take action to accumulate and they don't wait for anything then make it a reason to delay their investment.

[Olatundespo]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

With multiple sources of income, your expenses can increase at the same time. When my salary increases every year, the amount of money I spend at the end of the month increases in proportion. As the needs of the family increase with the number of people, the amount of expenses also increases, so it is important for every investor to know how to manage funds properly. It is important to have patience for investment as well as to keep the amount of expenses in line with the income. Since the amount of discretionary income depends on the daily expenses of the family, proper management should be made in the purchase of basic needs and additional needs and each item.

After meeting the basic family needs, you need to more attention to reducing the budget that is set to meet additional needs because you should not only think about the present time, you will have to think about increasing Bitcoin accumulation for economic stability in the future and increasing the holding.

[sotelorene]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

But actually they don't need to think about that having multiple source of income is needed before they could start on their long term investment journey. Since somehow they could start with the amount they currently have.

They can work it out to have multiple income stream and increase their discretionary income later on especially if they are eager to find multiple source to cater everything they need.

What's important at first is they take action to accumulate and they don't wait for anything then make it a reason to delay their investment.

One source of income is sufficient and enough for an investor to achieve his or her long term goal what is very important is how committed, how consistent, how determined and how devoted and passionate they are towards there Investment. May I also inform you that multiple source of income doesn't guarantee successful investment especially in Bitcoin investment, you can have several sources of income and yet you don't have the above mention and if you don't have it, is as good as waste because you can not do anything meaningful with it. Multiple source of income can only be interesting and sweet if you actually know what to do with it.

[Silikiem]

Waiting for the right downturn is a bad strategy because no one can predict the market, and it can change at any time.  That is why the bitcoin market is frequently referred to as unpredictable; it may change without notice.  To be honest, the dollar cost average has decreased a lot of tension when it comes to accumulating bitcoins, as well as those who are not serious enough to grow their portfolio, which means their lack consistency and patience, which is necessary things in all cryptocurrency.

Yes, waiting for a price drop when buying bitcoin is not the right strategy. Because as you said that bitcoin is difficult to predict the price, so if it is forced to continue waiting for the price of bitcoin to fall, it will certainly cause boredom which will make our enthusiasm for investing in bitcoin diminish. Because basically when the price of bitcoin does not go down as we expected, it is certain that our minds will feel a little disappointed and that is the risk if we wait too long for the price of bitcoin to go down when buying it. So that's why when we already have discretionary funds, we must immediately invest in bitcoun, if we are really serious about investing. Because if we are already too focused on market volatility before investing in bitcoin, I think it is an unfavorable action and waste a lot of momentum. Because basically the volatility of the price of bitcoin is very difficult to predict, because there are millions of people every second who make transactions in bitcoin, so that's why the price is very difficult to predict. So DCA is really the solution to all this.

I don't necessarily think that the problem about waiting for the dip is about being bored or not, the problem of waiting for a dip before buying is that you may miss so many buying opportunities that may present itself in the market, and it's even more unwise if you are seriously lacking behind in your accumulation journey, because no one can determine the next destination of the market, so if you are waiting for a dip, the particular one you are waiting for may never come, so it's never a good strategy to wait for the dip before buying.
The best thing to do is to buy and accumulate once you discretionary income is available and if along the line their is a dip in the market, you might still buy or accumulate aggressively, but waiting for it is not the best way to accumulate a huge stash of Bitcoin.

I think when we wait for a price drop that might never happen in Bitcoin, psychological we'll get very bored, and ultimately, that will make us reconsider whether or not to invest in Bitcoin. So, the boredom I'm referring to here is the psychological impact we'll feel, and the impact in other contexts. Waiting for a price drop when buying Bitcoin will certainly waste a lot of momentum. I think I mentioned this in my post, so please read it more carefully.

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time. However, we will give more importance to income or income, just as much importance should be given to Bitcoin, the more income sources, the stronger the Bitcoin investment, the more long-term and aggressively it will be possible to buy and hold Bitcoin.
For this reason, income is very important for us to buy Bitcoin, but investing in Bitcoin is as easy as it is to sustain. Because sometimes we have to face danger in the long run, it is very important to use emergency funds to counteract this danger.

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

The truth is, weather an investor have multiple sources of income or not, at the end of it all what really matters is your ability to be able to figure out a discretionary income for your bitcoin investment. Having a multiple sources of income is not  a guarantee that your bitcoin investment will be untouched, because having a multiple source of income without the right financial management will lead to multiple financial crisis which in turn is capable of affecting your bitcoin investment. The most important thing needed to sustain your bitcoin investment is your ability to figure out a discretionary income to consistently accumulate bitcoin using the DCA method and also to be wise enough to build up your emergency funds alongside while accumulating bitcoin.

[2Pizza410000BTC]

You are very correct, having that financial structure in place, cash flow habits paired with intentional investing really does shift everything. the emergency fund might sit quietly but it is presence gives you the confidence and freedom to take calculated risk elsewhere it is like building offense and defense at the same time.

The thing is that you can still invest without being financially stable . The difference is that folk that are not financially stable investment won’t have same pace with those that are financially stable and stuff . Those with rough cashflow can choose to invest as aggressive as they please because they have enough sources or their sources is enough to cover it up or handle it , so having enough cashflow is very big advantages when come to investing in bitcoin , but still you can still manage if you are not stable financially.

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time. However, we will give more importance to income or income, just as much importance should be given to Bitcoin, the more income sources, the stronger the Bitcoin investment, the more long-term and aggressively it will be possible to buy and hold Bitcoin.
For this reason, income is very important for us to buy Bitcoin, but investing in Bitcoin is as easy as it is to sustain. Because sometimes we have to face danger in the long run, it is very important to use emergency funds to counteract this danger.

We all know that DCA method is a very good method, but there are many who prefer to buy Bitcoin from the dip market. For example, a few days ago the Bitcoin market was dumping and went down to $107,000, and those who were able to buy Bitcoin from that dip market are currently experiencing fairly good success. So investing in the DCA method is good, but it is even better if you can invest from the dip. I had some emergency funds, I have been accumulating my funds for quite some time, I was expecting a lot of dumping but there was not much dumping. I was hoping in my heart that if Bitcoin came close to $100k or even below, then I would buy Bitcoin from there, but it did not come to that level, but I bought from the dip market a few days ago, and currently I am experiencing a lot of success, so I say that buying from the dip market leads to a lot of success for every investor, but if you cannot wait for the dip market, then you can invest continuously using the DCA method where you do not have to wait for the dip market.

[Joy- maker]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

But actually they don't need to think about that having multiple source of income is needed before they could start on their long term investment journey. Since somehow they could start with the amount they currently have.

They can work it out to have multiple income stream and increase their discretionary income later on especially if they are eager to find multiple source to cater everything they need.

What's important at first is they take action to accumulate and they don't wait for anything then make it a reason to delay their investment.

I agree with you because you are correct one don't need to think that he or she need to have  multiple source of income before he or she can get started with bitcoin, they can get started with the little amount of Discretionary income they are able to map out, and then figure out later how to increase their discretionary income buy having other sources of income. Because taking action buy getting started with bitcoin with the little amount they currently have as discretionary income is very important.

[Cgrexp]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

But actually they don't need to think about that having multiple source of income is needed before they could start on their long term investment journey. Since somehow they could start with the amount they currently have.

They can work it out to have multiple income stream and increase their discretionary income later on especially if they are eager to find multiple source to cater everything they need.

What's important at first is they take action to accumulate and they don't wait for anything then make it a reason to delay their investment.

One source of income is sufficient and enough for an investor to achieve his or her long term goal what is very important is how committed, how consistent, how determined and how devoted and passionate they are towards there Investment. May I also inform you that multiple source of income doesn't guarantee successful investment especially in Bitcoin investment, you can have several sources of income and yet you don't have the above mention and if you don't have it, is as good as waste because you can not do anything meaningful with it. Multiple source of income can only be interesting and sweet if you actually know what to do with it.

The issue discussed here  about is basically income and mindset. In fact, I think both income and mindset are related to each other. And one is no less important than the other because if one is lacking, the effectiveness of the other will be destroyed. Suppose it is very cold and I have a strong desire in my mind to get some warmth from a fire. But will this desire ignite the fire? No matter how much I have a mentality to get warmth, if I cannot collect wood, the fire will never ignite and I will not get rid of the cold. Similarly, I think the fuel of investment is income. To fulfill the investment mentality, the desire for profit and the desire to get financial freedom, I need income. Income will act as a powerful fuel just like that wood and keep my investment burning. If a person's monthly income is $400 and his expenses are $390, he will have $10 left in his hand. In this case, the investment capacity of that person is limited without a suitable income. There is also market ups and downs. The market is not always the same.  If someone suddenly faces a major financial problem, or loses their job or falls ill, their investment may be ruined if they do not have emergency savings. Emergency savings and the ability to deal with risks must be dependent on income. Because you will create them from income. Again, when the market price drops (Dip), many people regret that they could have bought now. They cannot buy because they do not have extra money. But those who have already saved extra money from their income can take advantage of this opportunity.
Now let's come to why mindset is important. Investing does not mean pouring money. It is a mental game. A smart investor knows how to invest, control fear and  don’t worry about FOMO. These are all matters of mindset. No matter how much income there is, if there is no investment mindset, that income is only spent on expenses and the future is uncertain. Again, many people have a lot of income but do not know where to invest, how to invest and what is risky. By investing in the wrong place, they end up getting scared and hesitant and face losses.  There are many investors who start but after a few months they don't continue... and sell, this may be due to lack of proper financial management or fear of falling prices. Maybe mistakes can happen, maybe some losses will happen, but it doesn't mean that everything is over. Successful investors prepare for losses and see losses as an opportunity to learn. We need to maintain a balance between emotions and logic, we often make wrong decisions when we are too emotional. If we have mental toughness, we can easily handle failures in our investment journey. Moreover, if we don't have a strong mindset, many people cannot maintain the patience to continue investing for the long term. I think it is necessary to keep  income and mindset in investment because they complement each other. Investment requires capital that we will get from income. Again, a strong mindset, patience, discipline, risk management and consistency help to sustain investment. So income is the fuel of investment and mindset is the driver, without which we cannot reach our destination.

[ruykeri]

You are very correct, having that financial structure in place, cash flow habits paired with intentional investing really does shift everything. the emergency fund might sit quietly but it is presence gives you the confidence and freedom to take calculated risk elsewhere it is like building offense and defense at the same time.

The thing is that you can still invest without being financially stable . The difference is that folk that are not financially stable investment won’t have same pace with those that are financially stable and stuff . Those with rough cashflow can choose to invest as aggressive as they please because they have enough sources or their sources is enough to cover it up or handle it , so having enough cashflow is very big advantages when come to investing in bitcoin , but still you can still manage if you are not stable financially.

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time. However, we will give more importance to income or income, just as much importance should be given to Bitcoin, the more income sources, the stronger the Bitcoin investment, the more long-term and aggressively it will be possible to buy and hold Bitcoin.
For this reason, income is very important for us to buy Bitcoin, but investing in Bitcoin is as easy as it is to sustain. Because sometimes we have to face danger in the long run, it is very important to use emergency funds to counteract this danger.

We all know that DCA method is a very good method, but there are many who prefer to buy Bitcoin from the dip market. For example, a few days ago the Bitcoin market was dumping and went down to $107,000, and those who were able to buy Bitcoin from that dip market are currently experiencing fairly good success. So investing in the DCA method is good, but it is even better if you can invest from the dip. I had some emergency funds, I have been accumulating my funds for quite some time, I was expecting a lot of dumping but there was not much dumping. I was hoping in my heart that if Bitcoin came close to $100k or even below, then I would buy Bitcoin from there, but it did not come to that level, but I bought from the dip market a few days ago, and currently I am experiencing a lot of success, so I say that buying from the dip market leads to a lot of success for every investor, but if you cannot wait for the dip market, then you can invest continuously using the DCA method where you do not have to wait for the dip market.

You have complete freedom on how you invest in bitcoin. You bought Bitcoin with your emergency fund when you thought the price of Bitcoin was relatively low. A few days ago, the price of Bitcoin was $107,000. Then you bought Bitcoin with your emergency fund. Later, if the price of Bitcoin had decreased much more, you would have regretted it. Here is another thing that could have happened when you bought Bitcoin with your emergency fund. If, for some reason, you have a big financial problem, then if you cannot solve that financial problem with the money you have and the reserve fund, then you will be forced to sell Bitcoin at a lower price than before because at that time you have no emergency fund. In this way, you will suffer losses.

I noticed another thing that you are talking about investing in the DCA method at the same time and are encouraging people to buy in the DIP. This will make those who are new to it excited. Because the way you invest in the DIP can result in a lot of profit or a lot of loss in a short period of time. And it becomes a kind of gambling.. Now the emergency fund may be there for years and years. This does not mean that you should buy Bitcoin with it when you get the opportunity. If you have an emergency fund, you feel mentally strong inside. Since the emergency fund is a reserve fund as a back-up, the DCA can be done aggressively. As a result, Bitcoin accumulation is faster. And there is a possibility of getting more Bitcoin in a short time at a relatively low price. Because the price of Bitcoin will continue to increase as time goes by.

[Ricardo11]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

But actually they don't need to think about that having multiple source of income is needed before they could start on their long term investment journey. Since somehow they could start with the amount they currently have.

They can work it out to have multiple income stream and increase their discretionary income later on especially if they are eager to find multiple source to cater everything they need.

What's important at first is they take action to accumulate and they don't wait for anything then make it a reason to delay their investment.

I agree with you because you are correct one don't need to think that he or she need to have  multiple source of income before he or she can get started with bitcoin, they can get started with the little amount of Discretionary income they are able to map out, and then figure out later how to increase their discretionary income buy having other sources of income. Because taking action buy getting started with bitcoin with the little amount they currently have as discretionary income is very important.

Without delaying anything, you have to start as soon as possible with a very small amount, even if it is very small, but it is necessary to start consistently.
You do not always need to have a large source of income to start investing in Bitcoin, it is not a problem to start with a small amount of discretionary income, and by keeping the investment small and consistent, you will have everything ready later.
After starting to invest, Find a way to increase that income using other sources of income, strengthen your financial situation, create all the necessary funds step by step, such as an emergency fund first, then a reserve fund.
Here, a reserve fund is not mandatory, but an emergency fund is definitely mandatory, however, everything has to be prepared step by step.
Once you take action and start investing, everything can be prepared, but if you postpone the investment to prepare everything first, then you are definitely making a big mistake, Because it only makes you lag behind, so starting investing as soon as possible is the right decision.

[Fuso.hp]

You are very correct, having that financial structure in place, cash flow habits paired with intentional investing really does shift everything. the emergency fund might sit quietly but it is presence gives you the confidence and freedom to take calculated risk elsewhere it is like building offense and defense at the same time.

The thing is that you can still invest without being financially stable . The difference is that folk that are not financially stable investment won’t have same pace with those that are financially stable and stuff . Those with rough cashflow can choose to invest as aggressive as they please because they have enough sources or their sources is enough to cover it up or handle it , so having enough cashflow is very big advantages when come to investing in bitcoin , but still you can still manage if you are not stable financially.

The DCA method is the best for every Bitcoin investor, I would like to add something to the information you have given. Because if Bitcoin can be invested according to the DCA method, then it is definitely possible to be successful and it will be possible to hold Bitcoin for a long time. However, we will give more importance to income or income, just as much importance should be given to Bitcoin, the more income sources, the stronger the Bitcoin investment, the more long-term and aggressively it will be possible to buy and hold Bitcoin.
For this reason, income is very important for us to buy Bitcoin, but investing in Bitcoin is as easy as it is to sustain. Because sometimes we have to face danger in the long run, it is very important to use emergency funds to counteract this danger.

If you do not discuss DCA investment in detail with those who are completely new to investing, everything will go over their heads, so if you want to explain DCA investment to a new investor, you have to tell him about it from the beginning.

DCA (Dollar cost Average) investment method is one of the most effective methods of investment, that is why this investment strategy is considered the most effective strategy because by adopting this strategy, people can invest in Bitcoin regularly while maintaining their freedom. Earlier, I used to see many low-income people regretting that they are not able to invest in Bitcoin, they do not understand how they can plan to invest in Bitcoin with their small amount of money, but after knowing the DCA investment method well, they are seen investing their money at their convenience from time to time.

That is, the amount of money left over after spending on themselves, their family and meeting all their needs, the investors will be able to invest that amount of money continuously in Bitcoin, this is one of the most positive aspects of this investment strategy.

[Kelward]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

Having multiple sources of income is an assurance that we can buy and hodl for the long term but it's not enough to sustain long term investment. Every Bitcoin investors that wants to sustain long term investment needs to understand and practice financial management. If you have multiple sources of income but lacks the discipline to make realistic budgets on how to manage your basic expenses and discretionary funds you're not going to sustain long term hodl.

An investor with a single source of income that is equivalent to one of your sources of income can sustain long term buy and hodl if he truly understands financial management. It is not so much about how much your total income is, what matters is how well you plan your budget to balance all your expenditures. So far you have a discretionary funds you can always allocate some funds to buy Bitcoin.

[Jostern]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

You’re absolutely right, having multiple streams of income would definitely help to have more available discretionary income, and working on our expenses would also really help increase our discretionary income, and having more cash flow available would also help our discretionary income grow more, sometimes we might want to reduce our weekly expenditure and monthly expenses depending on when we have our income available, I could use myself as a reference, when I started buying and accumulating bitcoin at a very low rate with a little discretionary income available I had to work on my cash flow and also trying to manage my expenses and trying to reduce some of my unnecessary expenses and also working on my mortgage because at that time I had some debt, so after clearing all that, I had to completely focus on increasing my discretionary income by stopping some unnecessary expenses and I must say that really helped me to increase my discretionary income and buy more bitcoin into my portfolio, I had to also increase my cash flow by generating more income which resulted to more discretionary income.

[Joeboy]

Overall, I completely agree with your assumption, because having multiple sources of income will certainly ensure our Bitcoin investment remains untouched or unaffected. However, I believe that in addition to having multiple sources of income, we should also cut back on non-essential expenses. I believe this is also crucial. It's essentially the same if we have multiple sources of income but are wasteful with our lifestyle. Therefore, it's better to combine multiple sources of income with a simple lifestyle. And that way, I'm sure our Bitcoin investment will run more smoothly.

There is no doubt that a multiple source of income may really be of help in increasing our discretionary income however our expenses is what determine our discretionary income. If we can be able to cut down our expenses then our discretionary income will increase however if the reverse is the case then our discretionary income will reduce. So even if our cash flow increase as a result of multiple source of income without us reducing or cutting down on our expenses our discretionary income will not increase but rather there will be a great reduction. So working on our expenses and making such that we cut down on all unnecessary spending is really crucial in increasing our discretionary income.A good cash management and not just having a multiple source of income is what that is going to increase our discretionary income.

[Edited out]
You’re absolutely right, having multiple streams of income would definitely help to have more available discretionary income, .

Indeed having multiple streams of income can give room for more discretionary income. However realistically speaking,  more money usually comes with more responsibility. Sometimes that very moment extra cash starts flowing in, new expenses like family needs, lifestyle changes, begins to arise. That is why some persons  may earn more but still don’t have much left to invest, while others stay disciplined and put a good part aside. At the end of the day, the real key is not just how many streams of income you have or how much you make but rather how well you manage it