Buy the DIP, and HODL!

[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

[Merit.s]

We all know that DCA method is a very good method, but there are many who prefer to buy Bitcoin from the dip market

Waiting for the dip before buying bitcoin is a weak bitcoin accumulation strategy because nobody can know the exact time that the dip will come. What if the dip did not come, it means that you will continue waiting in the ball park for no reason and keep on missing the opportunity in the market which you can use to increase your bitcoin portfolio overtime through regular DCA every week.

Most people that waits for the dip end up not buying bitcoin because bitcoin might not dip to their expected price of when the price dips, they might have spent the money which they planned in buying bitcoin with because they have already spent the money believing that they will replace it before the dip.

but if you cannot wait for the dip market, then you can invest continuously using the DCA method

It is wrong for a new investor who is in his early bitcoin accumulation stage to wait for the dip when he can continue increasing his bitcoin stash bit by bit with DCA method buying consistently and persistently for 4-10 years and above in order for him to reach his bitcoin target fast. When you wait for the dip, you will slow down your bitcoin accumulation pace and end up with very little bitcoin in future which you bought cheap and I don't see that as smartness because your goal should be to accumulate as many bitcoin as possible for the future when bitcoin price will be expensive in future, you will regret waiting.

[Lembo69]

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.

Discretionary income increases by reducing extra expenses in our daily life. If you have a cash flow, then you can easily get discretionary income. If you have discretionary income, do not delay investing in Bitcoin. And never wait for the dip. Try to buy as much as possible during the market price high and aggressively buy during the dip. It is possible to extract discretionary income from cash flow by eliminating extra expenses such as entertainment expenses and beer or (alcohol) expenses.

[ASloveapg]

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.

Discretionary income increases by reducing extra expenses in our daily life. If you have a cash flow, then you can easily get discretionary income. If you have discretionary income, do not delay investing in Bitcoin. And never wait for the dip. Try to buy as much as possible during the market price high and aggressively buy during the dip. It is possible to extract discretionary income from cash flow by eliminating extra expenses such as entertainment expenses and beer or (alcohol) expenses.

Every person has a lot of wasteful expenses, people always spend a lot of wasteful expenses from their income, if people can reduce their wasteful expenses as much as possible and allocate a little more money for Bitcoin investment, then it will bring better results in their future, these are only for your potential bright future, wasteful expenses are of no use to you, so you must ignore them as much as possible and put that money to good use.

For example, you have allocated a certain amount of money for Bitcoin investment based on your income, which you have been investing regularly, now if you can save all your wasteful expenses and invest in Bitcoin with that money, then your portfolio will also be bigger, which can bring you higher success in the future.
In this way, always think only about accumulating as many Bitcoins as possible, but before you start investing, in order to create such financial management, you should not delay in starting to invest, start investing first. No matter how small the amount of money you have, you will start investing first and later you will try to increase the amount of investment.

[Silikiem]

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.

As a long term investor whose initial strategy has been focused on the long term goal of consistently or Perherps persistent accumulation of bitcoin with a discretionary income using the DCA method I don’t think it’s advisable to wait for the dip before you accumulate bitcoin. Waiting to invest when its dip is a strategy only adopted by traders who are in for a short quick profit making mindset and they always panic whenever they notice a little downturn in the market price. A real investor will not wait until its dip before accumulating bitcoin rather he will just carry on with his ongoing strategy of figuring out a discretionary income to consistently accumulate bitcoin and gradually build up his portfolio through the DCA method and if along the line the dip presents itself, it will only be seen as an added advantage or opportunity for him to stack more aggressively and add to his already stacked up portfolio. That time you’re using to wait to buy in the dip would have been used to gradually accumulate a reasonable amount of bitcoin stash using just your discretionary income and gradually build up your portfolio. Moreover, waiting for the dip which might not occur would be seen as a waste of time because you’ve missed out on so many investments opportunities.

[Dareo]

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.

Yeah, several streams of income will help, though, when you spend at a corresponding rate, you will not really have extra money to invest. Combining additional revenue with rigorous control of expenditures is the actual secret. Saving even minor amounts of funds spent on non-essential services will release considerable amounts of funds to spend on Bitcoin in the long term.

Consider income and expenses as two different levers: income provides you with a potential, but expenses predetermine the amount of potential out of which investments are made. You increase your Bitcoin holdings by contributing what you can at your own discretion and ensuring that you do not spend too much money on lifestyle inflation. Hard work and persistence is usually the key to success more than money laundering.

[Stormisover]

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

In summary it is very important to always maximize taking preferences on how our money is to be spent based on things that are much more of great importance and value to us first before considering other things, that is to say some one who does not place much value on what Bitcoin stand for might not look at Bitcoin investment the same way compared to others who values Bitcoin more things that can of value to people may varies from one person to another, this is very true and that is why some people can be earning more but still don't have much left over to invest in Bitcoin compared to others that are earning lesser.

[Skydrill]

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.

Yeah, several streams of income will help, though, when you spend at a corresponding rate, you will not really have extra money to invest. Combining additional revenue with rigorous control of expenditures is the actual secret. Saving even minor amounts of funds spent on non-essential services will release considerable amounts of funds to spend on Bitcoin in the long term.

Consider income and expenses as two different levers: income provides you with a potential, but expenses predetermine the amount of potential out of which investments are made. You increase your Bitcoin holdings by contributing what you can at your own discretion and ensuring that you do not spend too much money on lifestyle inflation. Hard work and persistence is usually the key to success more than money laundering.

I totally agree with you, but in addition to what you have said, in as much as the need for additional sources of income can't be overemphasized as far as this discussion is concerned it is also important to note that the primary essence of any income should be for any potential investments that would yield more profits that would also take care of every other family needs, this way the chances of going through financial pressure as a result of the needs of the family could be reduced to barest minimal thereby keeping you anticipating for more investment opportunities.

[G_Besar]

I totally agree with you, but in addition to what you have said, in as much as the need for additional sources of income can't be overemphasized as far as this discussion is concerned it is also important to note that the primary essence of any income should be for any potential investments that would yield more profits that would also take care of every other family needs, this way the chances of going through financial pressure as a result of the needs of the family could be reduced to barest minimal thereby keeping you anticipating for more investment opportunities.

The essence of investing is seeking profit in order to achieve financial freedom in all aspects of our lives. Therefore, most people will certainly consider and choose the right assets to achieve this, for example, choosing Bitcoin as their primary investment. Another important aspect is considering how to manage it long-term without neglecting the basic needs of ourselves and our families. This investment is something that can be done very simply and without stress if we know how. Currently, there are still a lot of investors in Bitcoin, and it has the potential to grow even more over time. Therefore, those who already know the right way to invest in Bitcoin should not remain silent if they also want financial freedom in the future.

[Sonia_123]

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.

Yeah, several streams of income will help, though, when you spend at a corresponding rate, you will not really have extra money to invest. Combining additional revenue with rigorous control of expenditures is the actual secret. Saving even minor amounts of funds spent on non-essential services will release considerable amounts of funds to spend on Bitcoin in the long term.

Consider income and expenses as two different levers: income provides you with a potential, but expenses predetermine the amount of potential out of which investments are made. You increase your Bitcoin holdings by contributing what you can at your own discretion and ensuring that you do not spend too much money on lifestyle inflation. Hard work and persistence is usually the key to success more than money laundering.

I totally agree with you, but in addition to what you have said, in as much as the need for additional sources of income can't be overemphasized as far as this discussion is concerned it is also important to note that the primary essence of any income should be for any potential investments that would yield more profits that would also take care of every other family needs, this way the chances of going through financial pressure as a result of the needs of the family could be reduced to barest minimal thereby keeping you anticipating for more investment opportunities.

Remember bitcoin is a  Long term investment of two to three cycles or more and not a short term investment to be thinking of the profit at an early stage in other to meet up your basic need, also remember that it is your discretionary income that you are using to invest in bitcoin except you are thinking of investing for a very short period of time like six months and then selling off which is nor a good idea and does not make you an investor but trader, and one thing about bitcoin investment is that you don't rush it because you are after the profit, you take it bit by bit, the longer time frame you hodl your investment the more profit you make, the earlier you sell the lesser the profit and more risk of you put your investment into and you will be tempted to sell it off some day and become a low or a no coiner which will not be good at all and that is why the dca strategy is there for us to adopt in other for our investment commitment not to have any side effect on our daily lifestyle, you invest what you can afford to lose in bitcoin and not what you can't afford to lose, so that you will not be pressurized with your personal expenses and be forced to sell your investment sooner than you least expected and regret your actions.

[IceLincoln]

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.

The scenario you’re trying to portray here is very unlikely to me cos I don’t see any reason why one would want to put all his money into an investment even if it’s bitcoin and after it you’re left with empty pockets, how then will one survive and cater for his needs, this is not an investment, this is FOOLISHNESS of the highest order and shouldn’t be adviced or encouraged or even talked about. It’s only amongst  highly addicted gamblers you hear such stories where they can even sell properties to gamble and lose it and be left empty and swimming in debts and loans.
Again Buying bitcoin severally isn’t just what makes it a Dollar Cost Average Strategy. It has to be planned strategically and at a desired interval with purchases made from discretionary money with a specific amount in most cases and at the end the total price made is satisfactory and not being affected by market timing.
Someone who buys today and tomorrow buys again with different values and after like 3 days buys again and continuous to buy at random and with different dollar values, I don’t think he’s DCAing he’s just buying at random.

[Victorybit1]

We all know that DCA method is a very good method, but there are many who prefer to buy Bitcoin from the dip market

Waiting for the dip before buying bitcoin is a weak bitcoin accumulation strategy because nobody can know the exact time that the dip will come. What if the dip did not come, it means that you will continue waiting in the ball park for no reason and keep on missing the opportunity in the market which you can use to increase your bitcoin portfolio overtime through regular DCA every week.

Most people that waits for the dip end up not buying bitcoin because bitcoin might not dip to their expected price of when the price dips, they might have spent the money which they planned in buying bitcoin with because they have already spent the money believing that they will replace it before the dip.
 

A wrong message sent can lead people to many errors in their early days of investing and that's why it's very important that the right information and knowledge is sent across.  I think I agree with merit.s and also that's the same view point that jayjuangee with a whole lot of others have been sharing here and also on the community in general, I mean as a newbie in the bitcoin investment, there are lots of opportunities that one would miss out if he sit and wait on the dip to come before he buys or start off his investments.  There is always that tendency to keep on waiting whereas you can start off immediately with your discretionary income no matter how small the goal is to set a fixed amount or even moreso fluctuate the amount at your own convenience and buy steadily with the DCA method and if  the opportunity presents itself and you get a hold of the bear or dip then you take advantage of it and buy bigger. There are lots of situations that some newbie have encountered with the idea of waiting on the right time to buy bitcoin that have led them to the act of procrastination and we all know it's the start point of failure and at the end the zeal to even buy any bitcoin at all won't be since the right time hasn't really presented itself. So it's always better to start off your investments and plan, readjust and grow with time to soot your investment portfolio and entire journey as a whole.

[bitcoin_mining]

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.

Yes, if an investor has a good source of income and if the investor can invest in Bitcoin according to plan, then he will definitely be successful in maintaining his investment for a long time. As an investor, I always try to do this that if necessary, I will invest a relatively small amount of money in Bitcoin, but I should be able to make my investment consistently. If the matter is such that an investor buys Bitcoin with a good amount of money in one month and is not able to buy Bitcoin in the remaining two to three months, then there will be a break in his continuous investment and if there is a break in the middle of any work, then the desire to do that work will no longer be the same as before. Therefore, we have to determine an amount based on how much money we are earning, how much money we are spending monthly and how much money is left, and as much as possible, the investor should invest in Bitcoin continuously for a certain period of time with that specific amount.

If the investor fears that his investment may be irregular, then the investor can form an emergency fund if he wants. 
If an investor creates an emergency fund, if they do not have enough money to invest in any given month, they can use the money from that emergency fund but still continue to invest in Bitcoin.

[Tamaperdana]

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.

Yes, if the context is for beginners, I think you're right. I don't think beginners who are just starting to invest in Bitcoin need to think about increasing their income sources first. While that's not a bad thing, the first thing they should think about is starting to invest with their existing discretionary funds. Of course, if they're thinking about increasing their income, I think it will take quite some time. Therefore, beginners should start investing in Bitcoin first, and only then can they think about how to increase their income.

But I emphasize that increasing income is something that takes quite a long time, so if you have a job right now, don't forget to always do your best. Then, when you have free time, you can start thinking about how to increase your income. Because, basically, sometimes to increase our income, we have to dare to step out of our comfort zone and start an independent business. So, the bottom line is, all of this isn't easy, so don't let it interfere with your ongoing Bitcoin investment.

[Tungbulu]

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.

This is in fact one of the major pitfalls which a lot of folks run into when investing in Bitcoin, their inability to separate it from their day to day liquidity needs. Due to the volatility of Bitcoin, it works better as long term asset, and this same volatility is also one of the reasons it is considered as a terrible way to consider putting their Emergency fund. If there's no enough cash in hand and a potential emergency that requires immediate financial attention, there's definitely no guarantee that their stash would be safe as it means that they'll definitely opt to sell part of their Bitcoin at an inappropriate time. Some feel that it's justifiable if they sell in profits, but truth remains that if the price goes upward just after selling, it'll be almost impossible to reaccumulate the same position again, which of course leads to nothing but regrets, some folks might even feel dissuaded or lose the zeal to continue investing in Bitcoin and just drop out of Bitcoin altogether.

This is literally the main reason it is always emphasized or suggested to build a real buffer in cash or in an asset that's not as volatile as Bitcoin or other shitcoins. This gives an investor the stability to wait out and hold through the storm of volatility and potential downtowns, having the patience to hold and wait for the coming cycles to actually play out. Most people who do not have that financial cushion often end up reacting more to short term price volatility, rather than focusing more on the long term/future potentials of the asset. It's crucial to  acknowledge the fact that Bitcoin Investing isn't really about having that conviction in the asset, it's also more likely about having that discipline in your personal financial management. Most of the investors who actually tend to make it/succeed in the Bitcoin are mostly those who literally make investing in Bitcoin, because they'll never consider touching their investment, let alone feel pressured or threatened by whatever turn the market choose to take, since their focus is already locked on the long term potential of the asset.

[Creeper0]

This is literally the main reason it is always emphasized or suggested to build a real buffer in cash or in an asset that's not as volatile as Bitcoin or other shitcoins. This gives an investor the stability to wait out and hold through the storm of volatility and potential downtowns, having the patience to hold and wait for the coming cycles to actually play out. Most people who do not have that financial cushion often end up reacting more to short term price volatility, rather than focusing more on the long term/future potentials of the asset. It's crucial to  acknowledge the fact that Bitcoin Investing isn't really about having that conviction in the asset, it's also more likely about having that discipline in your personal financial management. Most of the investors who actually tend to make it/succeed in the Bitcoin are mostly those who literally make investing in Bitcoin, because they'll never consider touching their investment, let alone feel pressured or threatened by whatever turn the market choose to take, since their focus is already locked on the long term potential of the asset.

I agree with you that it is more important to have good financial management than having a lot of money to invest in Bitcoin. There are many people whose income source is not very large, but because of their good financial management and long-term investment attitude, they can easily succeed in investing. The key to long-term investment is to invest wisely with discretionary money and gain knowledge about investment.

Undoubtedly, for prudent money, it is important for you to have good financial management, without which it is a bit difficult for you to allocate prudent money. If you want to focus more on money than financial management, then look at those who, despite having a large income source, cannot allocate prudent money for investment and keep running towards short-term profits. Prudent money also depends to some extent on your regional inflation, but mostly depends on good financial management. How much money you can allocate wisely from your income sources is important for investing. Whether your income source is big or small is not important for your investment. Rather, how good you are at financial management and how much money you can allocate wisely for investment with good financial management is important. Of course, inflation plays an important role in this, but with good financial management, you can save more money and add it to a prudent financial fund that can be effective for investment.

[MainIbem]

I totally agree with you, but in addition to what you have said, in as much as the need for additional sources of income can't be overemphasized as far as this discussion is concerned it is also important to note that the primary essence of any income should be for any potential investments that would yield more profits that would also take care of every other family needs, this way the chances of going through financial pressure as a result of the needs of the family could be reduced to barest minimal thereby keeping you anticipating for more investment opportunities.
 

Different uncertain circumstances can hinder one from having numerous source of income but if one is in a better situation whereby they're fit or healthy enough to have numerous source of income then the better for such folks cause more source of income means more discretionary for investment and more funds to take care of other expenses too and more discretionary means a higher rate of accumulation to yield more profits, that's why when an investor has held for so many years, many about a decade or so it would be wise for the person to take some profits and create another source of income, maybe a business that would generate more income and discretionary to accumulate more Bitcoin and add value to their portfolio.

[Futurexxx]

I agree with you that it is more important to have good financial management than having a lot of money to invest in Bitcoin. There are many people whose income source is not very large, but because of their good financial management and long-term investment attitude, they can easily succeed in investing. The key to long-term investment is to invest wisely with discretionary money and gain knowledge about investment.

Truly, it's more important that you have a very good money management skills above anything else while investing in Bitcoin, but I want to ask, is their anything that stops and individual to have more money and still be good at managing his money? No.
So on that note, I prefer having both of them because having a lot of funds helps you build a larger stash of Bitcoin faster than someone having a smaller discretionary funds.

I know that their are some folks that earns little, but they still manage to figure out their discretionary income from it, and still invest even in that difficult state, but it's adviceable for such fellow to look for ways he can earn more money, so that his discretionary income will be a lot bigger, because the bigger the discretionary income the faster you get to that over accumulation status.