Buy the DIP, and HODL!

[Mr_Brilliant$]

Yes, of course, desire is really important, but in my opinion, Bitcoin investment is not based on desire alone. Rather, it is important to first see whether your cash flow, necessary expenses, discretionary income and backup fund are in order. If someone does not have any extra money in their hand except for necessary expenses,their own and family expenses, then it is not Bitcoin investment, but rather it goes towards a risky decision. Yes, desire is definitely necessary, but it should be kept within financial planning.It is good to start investing in the DCA method with a small amount, but you should start with your discretionary income.

I don't want to completely dismiss the need for willpower in investing.
I think willpower is more important in investing for those who have low income and don't have enough discretionary income to invest. They may have the ability to earn more but they don't have the extra money to earn after meeting their basic needs, which is why they are not able to earn the money they need to invest. In that case, if they try to earn more by using their willpower in investing and working a little harder, I think it is possible to generate discretionary income with which they can continue to invest in Bitcoin based on DCA.

True, will power and determination is really essential in investing, especially for people with low income.. Because it is not easy trying to survive, handle responsibilities and still have something left to invest.. it takes discipline..

I also believe some people actually have the ability to earn more, but sometimes they need that extra push and determination to work harder, learn more skills or create extra sources of income. Once they start generating even small discretionary income, they can gradually build the habit of investing consistently with DCA…

[I_Anime]

Emergency fund is very important for an investor. And a person should invest with the help of his discretionary fund. So the less emergency fund he has while investing in Bitcoin, the more risky his investment will be. In my opinion, investing in Bitcoin without emergency fund is very risky, so it is necessary to have an emergency fund level.

When investor has a discretionary income, then investor can start his ongoing investment and save emergency funds along the way. Emergency funds is a important thing to have in investments, but it should not delay person from starting. 

A person can start buying bitcoin progressively and be setting aside small money little by little for emergency.. When person is building emergency it should be balanced with a person investment, because having excessive cash that is plentierr than what person need for emergency can progressively loose value because of inflation.  Emergency funds should not be ignored, and also person don't have to overdo it to the point that they will now be postponing their ongoing investment.

The most important thing an investors we have at hand before thinking of investing in to Bitcoin and accumulating, is the discretionary income before creating out his emergency fund that serve as reserve at all time and once an investors is opportune to his discretionary income, i don't think there is something else holding him up from buying little by little as you have kindly reported @PhilosopherKing.

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

[Rustam Meraj]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

Utimate error that an investor could commit is to consider volatile assets as high yield savings account to pay daily expenses. Your life, and your very survival are at stake when you invest your main grocery, medicine, or rent money in crypto.  Financial peace comes after you have established impregnable wall around your monthly budget. When market unexpectedly plunges by 20 percent, one who is disciplined will consider it as discounted season, but desperate investor will have no option but to sell his or her coins at killing rate simply to earn money to feed his family. First thing you do is to ensure that you have emergency funds, and then your portfolio is given required strength to increase over number of years without having to be literally put in panic liquidation.

[alankasman]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

That's right, because someone who successfully invests only has discretionary income to build an emergency fund.
Many people ask whether someone can't complete their investment without discretionary income to build an emergency fund. The answer is what happens if after starting an investment things don't go as planned and they think selling their Bitcoin is the right step to solve the problem.

Therefore, by having discretionary income or a reserve fund we don't need to worry about selling what we already have so the amount we've accumulated won't be affected by having discretionary income or a reserve fund. Therefore from the previous discussion we've discussed that one of the best ways to increase investment is simply by having discretionary income or a reserve fund. This allows us to avoid worrying about dealing with problems that arise while investing in Bitcoin. Another reason is that we've prepared well in advance for potential investment events. Keeping it simple and not overly fiddling with our investment strategy is better.

[SPIDERMAN008]

True, will power and determination is really essential in investing, especially for people with low income.. Because it is not easy trying to survive, handle responsibilities and still have something left to invest.. it takes discipline..

I also believe some people actually have the ability to earn more, but sometimes they need that extra push and determination to work harder, learn more skills or create extra sources of income. Once they start generating even small discretionary income, they can gradually build the habit of investing consistently with DCA…

I agree with you. If someone wants to invest in Bitcoin but does not have discretionary income they should first reduce waste expense  and increase new income sources to create discretionary income so that after spending, they have extra money left over and can start investing in Bitcoin with that.

But many people take the wrong step by taking more risk. When they start investing in Bitcoin with their necessary expenses fund after hearing stories of high profits, they are likely to lose money. Because the price of Bitcoin is very volatile in the short term. Therefore, any investor should give more importance to discretionary income when investing in Bitcoin, so that it can be more convenient to hold for a long time.

[ChocolateBitcoinK]

Emergency fund is very important for an investor. And a person should invest with the help of his discretionary fund. So the less emergency fund he has while investing in Bitcoin, the more risky his investment will be. In my opinion, investing in Bitcoin without emergency fund is very risky, so it is necessary to have an emergency fund level.

When investor has a discretionary income, then investor can start his ongoing investment and save emergency funds along the way. Emergency funds is a important thing to have in investments, but it should not delay person from starting. 

A person can start buying bitcoin progressively and be setting aside small money little by little for emergency.. When person is building emergency it should be balanced with a person investment, because having excessive cash that is plentierr than what person need for emergency can progressively loose value because of inflation.  Emergency funds should not be ignored, and also person don't have to overdo it to the point that they will now be postponing their ongoing investment.

The most important thing an investors we have at hand before thinking of investing in to Bitcoin and accumulating, is the discretionary income before creating out his emergency fund that serve as reserve at all time and once an investors is opportune to his discretionary income, i don't think there is something else holding him up from buying little by little as you have kindly reported @PhilosopherKing.

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

That's right, we should never invest the money we need, our investment is for the long term, so we have to invest only the money that we can hold for the long term. But the biggest mistake that people make because of their emotions is that they invest the money they need, they think because of their confidence that if they invest now, they may get a lot of good profits after some time, and because of this thought, they invest the money they need, and this is the reason for their loss. Because of investing the money they need, they cannot tolerate volatility, so as soon as they see a little volatility, they start panicking, and this forces them to sell even at a loss. That is why we must invest the money that we can hold for the long term, and the most important thing is that we can ignore the volatility and keep investing.

[cyberninja2]

...

Yes, of course, desire is really important, but in my opinion, Bitcoin investment is not based on desire alone. Rather, it is important to first see whether your cash flow, necessary expenses, discretionary income and backup fund are in order. If someone does not have any extra money in their hand except for necessary expenses,their own and family expenses, then it is not Bitcoin investment, but rather it goes towards a risky decision. Yes, desire is definitely necessary, but it should be kept within financial planning.It is good to start investing in the DCA method with a small amount, but you should start with your discretionary income.

Desire alone won't work for everyone. If you don't have a healthy cash flow, even your desire won't work well. Therefore the main focus remains on your cash flow. Our primary goal is to continue investing with a stable cash flow especially if we also have additional income in the form of a backup fund. This greatly facilitates our efforts to invest in Bitcoin.
In addition, we must also manage our expenses well because even if there are many sources of income if expenses still cannot be conditioned of course this is the same thing as not being able to run according to our wishes especially if the expenses with the income we have are more expenses so this will be a big problem in making Bitcoin investments that always stop in the middle of the journey we make towards the Bitcoin investments we hold because the incompatibility we make makes our investments always unable to achieve the results as planned when we first started investing.

[Crytohillss]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

So many folks focus only on investing and forget financial stability really matters, having an emergency funds gives you peace of mind and helps one avoid making emotional decisions during difficult period. That vway people can leave Bitcoin investment untouched and allows it to grow over time instead of selling under pressure, Good planning and patience really makes a big difference in long term investing.

[Obulis]

If you spend all the cash at the end of day, and invest what you have left at end of the month, you will typically end up with zero. Wealth building process begins other way, you save your investing funds first and then you make yourself live on what you have left.

It seems you don't know much about how investing works if not you won't make this statement. Investing is not a race where you rush into accumulating while neglecting your needs. If you continue with this your practice I don't think your investment will be able to last long because you will end up coming back to it and selling it to solve your needs. Your basic needs cannot be neglected or avoided, they are necessities that must be taken care of first to be able to invest peacefully without coming back to rely on your investment to save you.

The right thing is to take care of your necessities first and use what is left to invest. It doesn't matter how much is left, and if you think it's not enough you don't have to sacrifice your needs to invest, instead you look for other means to increase your income so that you can have enough discretionary income to invest.

How can one be thinking about using all his money in his possession for investing, it only shows that such a person is a learner when it comes to investments and this is not only limited to Bitcoin related investment, but also other circular forms of investment. This is because if you use all the money in your possession for investing how will you manage to take care of your self and family, especially keeping up with the day to day requirements of life. This is were we talk about discretionary funds which should be ment for investment, while emergency funds should be left in the reserve.

Using every amount of money available to buy or invest in Bitcoin can probably happen as a result of misinterpretation of taking risk for newbies into Bitcoin and as a result of mindset or uncontrollable intrigue /expectations. Some see having emergency funds as not being ready to actually take risk whether on Bitcoin or other ventures and this happens sometimes with even borrowed funds and is a common trait of some traders "buying Bitcoin with every amount of money available even if it means borrowing money to buy".

[sotelorene]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

So many folks focus only on investing and forget financial stability really matters, having an emergency funds gives you peace of mind and helps one avoid making emotional decisions during difficult period. That vway people can leave Bitcoin investment untouched and allows it to grow over time instead of selling under pressure, Good planning and patience really makes a big difference in long term investing.

Having emergency funds alone doesn't make one to be financially stable, you can only be financially stable when you have a multiple source of income that is giving you funds on a steady. Will you call someone that is able to sort out emergency funds without any stable source of income a financially stable folk? Of course the person is not and in Bitcoin investment you don't really need to be financially stable before you can start Bitcoin investment and that is why the DCA is there to help...

[Jody.Drummer]

One of the barriers to not investing is necessity. The needs that must be met are our own responsibility and with a low income it may still not be enough to fulfill them, but another statement that can happen is that if someone really intends to invest and is determined then he will be able to set aside his income to be invested by managing his income by dividing it thoroughly even though there is certainly a difference in the amount of each division. Those who have a low income that even covers their needs but can still invest are people who are determined to prepare for a better future.

Besides setting aside initial capital as a step towards investing in Bitcoin, another essential starting point for everyone is the intention to do so without being distracted by their own responsibilities and daily needs. It's true, as you said, that anyone who wants to invest must have the determination to make it happen, even if they don't yet have a substantial income. However, with strong determination and a sincere intention to buy Bitcoin for future investment, such people will usually always find ways to become investors by holding Bitcoin for the long term.

I can relate to the difficulty of allocating a small amount of capital for investment when our income is barely enough to cover our living expenses. But if we're patient and persistent in our efforts to increase our income, the hardship will pass over time. So, never complain about difficult circumstances if we still have the determination to strive for better.

I agree with that. Although circumstances can be a hurdle, the truth is that if you have a strong determination, it can still be done. As the saying goes, “Where there’s a will, there’s a way.” I’ve experienced that myself, though not in the context of investing. So even when the situation wasn’t favorable, because I was determined, I found a way to make it happen and in the end, I succeeded and achieved the results I wanted. Complaining is natural, there’s nothing wrong with it, but it won’t solve the problem if we keep doing it. The solution requires taking more action only then will we find a way out or achieve the results we seek.

[liasbaa]

Emergency fund is very important for an investor. And a person should invest with the help of his discretionary fund. So the less emergency fund he has while investing in Bitcoin, the more risky his investment will be. In my opinion, investing in Bitcoin without emergency fund is very risky, so it is necessary to have an emergency fund level.

When investor has a discretionary income, then investor can start his ongoing investment and save emergency funds along the way. Emergency funds is a important thing to have in investments, but it should not delay person from starting. 

A person can start buying bitcoin progressively and be setting aside small money little by little for emergency.. When person is building emergency it should be balanced with a person investment, because having excessive cash that is plentierr than what person need for emergency can progressively loose value because of inflation.  Emergency funds should not be ignored, and also person don't have to overdo it to the point that they will now be postponing their ongoing investment.

The most important thing an investors we have at hand before thinking of investing in to Bitcoin and accumulating, is the discretionary income before creating out his emergency fund that serve as reserve at all time and once an investors is opportune to his discretionary income, i don't think there is something else holding him up from buying little by little as you have kindly reported @PhilosopherKing.

If you don't have extra funds to build an emergency fund, you can use your discretionary income to accumulate Bitcoin and build an emergency fund. Divide your discretionary income into three parts: one part for Bitcoin, another part for your emergency fund, and the other for your extra expenses. Keep a comfortable allocation of funds by keeping the percentage of funds you use where and how much according to your financial capacity. To be long term in Bitcoin accumulation you need to properly evaluate your earned funds. The more skilled you are at managing your funds the better position you will be in building your Bitcoin holdings.

[Popkon6]

Emergency fund is very important for an investor. And a person should invest with the help of his discretionary fund. So the less emergency fund he has while investing in Bitcoin, the more risky his investment will be. In my opinion, investing in Bitcoin without emergency fund is very risky, so it is necessary to have an emergency fund level.

When investor has a discretionary income, then investor can start his ongoing investment and save emergency funds along the way. Emergency funds is a important thing to have in investments, but it should not delay person from starting. 

A person can start buying bitcoin progressively and be setting aside small money little by little for emergency.. When person is building emergency it should be balanced with a person investment, because having excessive cash that is plentierr than what person need for emergency can progressively loose value because of inflation.  Emergency funds should not be ignored, and also person don't have to overdo it to the point that they will now be postponing their ongoing investment.

The most important thing an investors we have at hand before thinking of investing in to Bitcoin and accumulating, is the discretionary income before creating out his emergency fund that serve as reserve at all time and once an investors is opportune to his discretionary income, i don't think there is something else holding him up from buying little by little as you have kindly reported @PhilosopherKing.

To invest in Bitcoin, it is most important to hold Bitcoin by following the DCA method. Bitcoin investment is most important and effective in the current position, if you invest in Bitcoin according to the plan, then Bitcoin investment will definitely be successful. Discretionary income and discretionary income can be used by anyone in any way, but if you invest in Bitcoin according to the DCA method, it is definitely the easiest to keep for a long time. There is an opportunity to buy Bitcoin repeatedly, and deep purchases are made, resulting in huge savings on the purchase price.

[POPOLUV]

...

Yes, of course, desire is really important, but in my opinion, Bitcoin investment is not based on desire alone. Rather, it is important to first see whether your cash flow, necessary expenses, discretionary income and backup fund are in order. If someone does not have any extra money in their hand except for necessary expenses,their own and family expenses, then it is not Bitcoin investment, but rather it goes towards a risky decision. Yes, desire is definitely necessary, but it should be kept within financial planning.It is good to start investing in the DCA method with a small amount, but you should start with your discretionary income.

Desire alone won't work for everyone. If you don't have a healthy cash flow, even your desire won't work well. Therefore the main focus remains on your cash flow. Our primary goal is to continue investing with a stable cash flow especially if we also have additional income in the form of a backup fund. This greatly facilitates our efforts to invest in Bitcoin.
In addition, we must also manage our expenses well because even if there are many sources of income if expenses still cannot be conditioned of course this is the same thing as not being able to run according to our wishes especially if the expenses with the income we have are more expenses so this will be a big problem in making Bitcoin investments that always stop in the middle of the journey we make towards the Bitcoin investments we hold because the incompatibility we make makes our investments always unable to achieve the results as planned when we first started investing.

I totally disagree with you from the first paragraph and secondly paragraphs, because your primary goal should not be ontill you are able to have a source of income or your focus should not be placed on hold, to have a stable cash flow before you could regulate your buying and accumulation with your discretionary, and it is true that desire alone doesn't guarantee you to be able to hold on your Bitcoin investments in a long term,  but patient should be attached to it and your discretionary income determine your potential level of consistency not having steady cash flow or sources of income.

[Abbatty]

If you don't have extra funds to build an emergency fund, you can use your discretionary income to accumulate Bitcoin and build an emergency fund. Divide your discretionary income into three parts: one part for Bitcoin, another part for your emergency fund, and the other for your extra expenses. Keep a comfortable allocation of funds by keeping the percentage of funds you use where and how much according to your financial capacity. To be long term in Bitcoin accumulation you need to properly evaluate your earned funds. The more skilled you are at managing your funds the better position you will be in building your Bitcoin holdings.

I get your point, but in a case where an investor barely get a very minimal amount after spending most of his income on his immediate need, let say a guy after spending much on his need barely have $2 as his discretionary income, is he suppose to divide them into 3 just as you said, if he does that can barely get him any amount of bitcoin. So in such case what his he suppose to do.

So I don’t think you right about what you said, we know emergency funds is very important in every bitcoin journey but I think in a situation where you earn very little and have very little discretionary income you should invest all in bitcoin an forget the emergency funds but with such doing make sure you getting another source of income to support you with, so you can get an emergency funds from your other source of income.

[MissNonFall9]

True, will power and determination is really essential in investing, especially for people with low income.. Because it is not easy trying to survive, handle responsibilities and still have something left to invest.. it takes discipline..

I also believe some people actually have the ability to earn more, but sometimes they need that extra push and determination to work harder, learn more skills or create extra sources of income. Once they start generating even small discretionary income, they can gradually build the habit of investing consistently with DCA…

Without discipline, even if there is a lot of wealth, its balanced and proper use cannot be ensured. So that wealth might be wasted. Therefore, discipline is a very important thing for every person for the progress of work. Financial and work discipline makes it possible to accomplish many tasks even with little wealth.

Anyway, now let's come to investing in Bitcoin, one of the first and most important things for investing in Bitcoin is to generate discretionary income, which I think even people with low incomes will be able to generate if they have financial discipline. Investing in Bitcoin through the DCA method will play an important role in achieving their desired wealth. Financial discipline will make continuous investment in the DCA method easier.

[Morayoam91]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

So many folks focus only on investing and forget financial stability really matters, having an emergency funds gives you peace of mind and helps one avoid making emotional decisions during difficult period. That vway people can leave Bitcoin investment untouched and allows it to grow over time instead of selling under pressure, Good planning and patience really makes a big difference in long term investing.

You have to cover the expenses that you have to live with, but you must have a long-term mindset when investing in Bitcoin. The DCA strategy can work for you in the long run. You can do this with the money left over after meeting all the needs of your family. This keeps you from worrying about when to enter or exit the market. Since the price of Bitcoin is volatile, you will be different from those investors who invest with all their money and sell their holdings at a loss when Bitcoin falls.

[puloweh555]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

So many folks focus only on investing and forget financial stability really matters, having an emergency funds gives you peace of mind and helps one avoid making emotional decisions during difficult period. That vway people can leave Bitcoin investment untouched and allows it to grow over time instead of selling under pressure, Good planning and patience really makes a big difference in long term investing.

Having emergency funds alone doesn't make one to be financially stable, you can only be financially stable when you have a multiple source of income that is giving you funds on a steady. Will you call someone that is able to sort out emergency funds without any stable source of income a financially stable folk? Of course the person is not and in Bitcoin investment you don't really need to be financially stable before you can start Bitcoin investment and that is why the DCA is there to help...

Yes. An emergency fund is important but it doesn't guarantee financial stability. Financial stability can occur when you have a regular income not just relying on a single source of income to cover basic needs plus an emergency fund. Having only an emergency fund but no income is very fragile financially.

So, in essence when investing in Bitcoin, you don't need to wait to be rich or financially stable to invest in Bitcoin. To start you can use a DCA strategy with a small amount. The point is increase your income and continuously improve your ability to generate income from various sources while continuing to DCA. You can do these two aspects simultaneously but with careful calculation.

[DubemIfedigbo001]

I also believe some people actually have the ability to earn more, but sometimes they need that extra push and determination to work harder, learn more skills or create extra sources of income. Once they start generating even small discretionary income, they can gradually build the habit of investing consistently with DCA…

I don't always subscribe to the belief that you need to learn more skills to be able to earn more, unless you're not comfortable with your present career option. You can always upgrade your skills by taking more courses, going for more workshops, commit to specializing in your field and by doing so you're upgrading your career worth. When your worth is higher, you can demand a raise from your employer of which they would comply if you're so worth it, there are other opportunities to work remotely beside your normal jobs all over the recruitment portals like fiverr, Upwork, freelancers, e.t.c and if you match their required skills, you can still get more income from those places and with this increase in income, you can have much more discretionary income to invest into bitcoin at the pace you want.

[Cgrexp]

Of course, discretionary income is one of the most important things when it comes to investing in Bitcoin. Without discretionary income, you may not be able to invest or build an emergency fund. You can not invest with money that’s meant for handling expenses because you are still going to run back to that same money inorder to take care of that same expenses you once neglected (which is actually you ,tampering with your investment). Try to keep it simple by following the right principles of investment.

That's right, because someone who successfully invests only has discretionary income to build an emergency fund.
Many people ask whether someone can't complete their investment without discretionary income to build an emergency fund. The answer is what happens if after starting an investment things don't go as planned and they think selling their Bitcoin is the right step to solve the problem.

Therefore, by having discretionary income or a reserve fund we don't need to worry about selling what we already have so the amount we've accumulated won't be affected by having discretionary income or a reserve fund. Therefore from the previous discussion we've discussed that one of the best ways to increase investment is simply by having discretionary income or a reserve fund. This allows us to avoid worrying about dealing with problems that arise while investing in Bitcoin. Another reason is that we've prepared well in advance for potential investment events. Keeping it simple and not overly fiddling with our investment strategy is better.

If a person is trying to adapt their Bitcoin investment to their circumstances, it requires a combination of mental preparation and practice. And in general, it is not a good idea to pour the maximum amount of money into Bitcoin investment unless there is a certain amount of auxiliary funds ready in advance in case of a mistake. Another thing about optional funds is that we probably need to account for optional expenses as well. So ultimately, it is better to think of optional funds in terms of their ability to be used for investments, savings  auxiliary funds  and discretionary consumption. If someone does not know the difference between basic consumption and discretionary consumption, then you can get a better idea of ​​​​optional funds. To do this, you need to at least consider your various expenses and whether they are your wants or needs, and whether they will be spent in this pay cycle, or can be postponed or kept for another pay cycle in the future.