Buy the DIP, and HODL!

[Morayoam91]

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…

Investing is more challenging for people with low income because it is not easy to set aside money for investment after meeting daily living expenses, family responsibilities and other essential expenses. Even if a person has the ability to increase their income, they can build a strong income base by fully utilizing their abilities, learning something new or using their hard work more systematically and by doing extra work, they can increase their income base. In this way, if their income increases, they can use the extra money left after daily expenses to invest. At this stage, the DCA strategy will be most effective for them. They can invest their money regularly in small amounts. This will keep them stress-free and prevent them from panicking.

[G_Besar]

---

Investing is more challenging for people with low income because it is not easy to set aside money for investment after meeting daily living expenses, family responsibilities and other essential expenses. Even if a person has the ability to increase their income, they can build a strong income base by fully utilizing their abilities, learning something new or using their hard work more systematically and by doing extra work, they can increase their income base. In this way, if their income increases, they can use the extra money left after daily expenses to invest. At this stage, the DCA strategy will be most effective for them. They can invest their money regularly in small amounts. This will keep them stress-free and prevent them from panicking.

Becoming a long-term investor by holding Bitcoin for a long time is not easy because it always requires three important things: commitment, strategy, and support from one's own income. This means that if one lacks any of these, the difficulties of being a long-term investor will be very pronounced, especially when someone's income is only enough to cover daily expenses. Therefore, such individuals must find alternative employment with a more adequate income so they can allocate capital to invest in Bitcoin without disrupting their responsibilities and daily needs.

This is what sometimes becomes an obstacle for some individuals, even though their commitment to long-term investment is deeply ingrained in their hearts. While there are methods they can use, such as the DCA strategy, ultimately, this requires substantial capital to sustain this strategy for a slightly longer period. The most difficult part is remaining afloat as an investor by continually buying Bitcoin amidst market conditions that frequently fluctuate and change direction.

[JayJuanGee]

[edited out]

This will help you to think straight and hold coins to earn money in crypto, only way to win in crypto is to hold coins.

Hopefully, none of us are fucking around with crypto.

And

Hopefully we understand that bitcoin is the only "coin" worth investing into, or at least that is the topic of this thread, so hopefully we are not talking about shitcoins in this thread and/or failing/refusing to understand the difference between bitcoin and shitcoins.

Most persons focus only on making money but not on managing cash flow properly , having strong backup funds gives One the peace of mind and helps people avoid touching your investments during bad time. The real aim is building a system where one income covers your lifestyle comfortably while your investments continue growing untouched on that note the level of discipline and consistency bring compound over the period. 

Strong backup funds sounds great, but I doubt if it's going to do the magic, especially when the investor in question also has a large basic expenses. The larger your basic expenses, the quicker you would want to start consuming your backup funds, so there needs to be some level of balancing when looking out for both.... Considerable basic expenses, A decent backup funds. And as for the idea of one income, well, it might eventually go on to work for some people, especially those with a decent paying Jobs, but in other cases, others might just have to do add/find some side gigs, especially the ones that can be done in their spare time, so they can be able to maintain a certain level of balance.

Having multiple sources as an investor will always give you an edge , investing is not complex though one still have to follow some certain principles to make it happen right . Backup funds and emergency funds are quite different, emergency funds is funds set aside incase of any emergency (we all are familiar with that already ), now back up funds is not actually meant to handle just expenses one can also use it to top their holding (like buying the dip with it ). Is true that it won’t be easy due to expenses and some folks not having enough cashflow , despite try having an emergency funds, when you have finally figured out on how to improve your cashflow (especially your cashflow in ) , having a back up funds will be nice .

Back up funds and emergency funds are the same thing.

Emergency funds happen to be the last line of defense prior to having to tap into bitcoin.  Sure, extra kinds of back up funds are reserve funds, which can be designated towards everything.

It seems to me that when a guy is in his earliest stages of building his back up funds, he is going to be building emergency funds and reserve funds simultaneously, since it is likely from time to time, he is going to have to tap into his various back up funds and he will not be able to ongoingly build them without never having to tap into them.

[edited out]

Above all, I think that to manage DCA in the long term, you need to have multiple sources of income and cash flow.

You do not need multiple sources of income to manage DCA.

You can DCA buy bitcoin each week (if that is your buying interval?), as long as you have more income than  your expenses, which is called discretionary funds.

When you have discretionary income, you can choose to spend that discretionary income on 1) buying bitcoin, 2) savings (back up funds) and/or 3) discretionary consumption.

If you have higher levels of discretionary income, then you have more money to work with, yet even if you run out of discretionary funds to buy bitcoin, you can buy from your back up funds, as long as you determined that you have enough back up funds... and also backup funds had been built up from prior periods of extra discretionary funds.

[edited out]

If there is no money left after meeting your basic needs, then you can first try to reduce expenses or think about making some additional income arrangements along with your main job. Because without a prudent income, it becomes difficult to continue investing in the long term.

There is no such thing as "prudent income" since that is a vague, dumbass and misleading term.  Why don't you talk about discretionary income or disposable income.  Those are real concepts that mean something.

[edited out]

You are right, having sorting your basic needs then you can start thinking of having discretionary income before going into emergency funds. I have even seen some people doing well in their investment journey with little or no emergency funds.
For sure emergency have a role to play in every bitcoin investment but don’t allow it to delay your bitcoin journey because at the end it very important to start your bitcoin journey as soon as you have your discretionary income.

Don't be retarded.

Guys need to have some level of back up funds in order to assure that they are not investing beyond their discretionary funds, and I would think that guys would be smart enough to realize that the longer that they are in bitcoin, then the more they should be building various kinds of back up funds to protect their bitcoin investment... otherwise they are gambling rather than investing.

Just because some guys have little to no back up funds does not mean it is a good idea (or practice) to do something similar to what they are doing.

[edited out]

Convenience is one factor that makes an investor leaves his bitcoin in an exchange for long and there are a lot of people that have stayed invested in the bitcoin ecosystem for so long and yet, Thier bitcoin is still stored in an exchange. Of cause, a serious investor knows that the way to go isn't to leave ones bitcoin there.

When you're Investing, as much as it's neccesary that you set the right buying strategy in place and to also take advantage of DIP and continue your accumulation consistently through the DCA method, you've got to also ensure that you're keeping your bitcoin in the right wallet such that all you've spend years accumulating doesn't go missing or get entrapped such that you can't withdraw it from an exchange.

The larger that a person's investment into bitcoin grows (whether the amount that they put in or the appreciated value or even other ways that they might evaluate bitcoin's value), then the more incentive that they should have to protect the value of their bitcoin, so that they do not end up losing all of their bitcoin (or more than they are willing to lose) based on their own laziness... and sometimes it can be difficult for some people to learn how to self-custody some or all of their coins.

Even if a person had been accumulating bitcoin for 4-8 years or longer, I don't have any problem if they choose to keep a certain percentage of their total bitcoin holdings (such as 10%) with various 3rd parties, yet it seems problematic to me, to keep larger portions of bitcoin with 3rd parties, even though it could take a bit of time and effort to learn how to self-custody in a way that is safeguarding the coins sufficiently.

[edited out]

There are many people who do not give much importance to the backup fund while investing in Bitcoin. Because they think that they have never had any problems in their life in the past and will not have any in the future. With this thought in mind, they start investing in Bitcoin without giving importance to this backup fund. But no one can say when and how a person can face financial problems due to some unexpected events. Just because there has been no such problem in the past, it is not right to assume that it will not happen in the future. Therefore, it is very important to keep 3 to 6 months of expenses as a backup fund. If someone has a strong income source and has other types of assets apart from Bitcoin, then there is no need for him to keep a backup fund for more than 3 months. But many people have a lot of responsibilities. The income source is not that strong. Even if the income is irregular, it may be logical for him to keep a little more backup fund. It will depend on the situation of the person who is investing.

The more irregular a person's income and/or expenses, the more important for them to keep back up funds, and in the context of these bitcoin discussions, back up funds are meant to protect from cashing out at a time that is not of our own choosing.  If a person had not been an investor previously, then they likely might not realize how tempting bitcoin can be to tap into at a time that is not of our choosing based on bitcoin being both liquid and volatile, which can tempt us to tap into it when we should not be, including historically causing a lot of folks to end up selling way too many bitcoin too soon.. and yeah, they have to live with the consequences of their own actions.. that they probably should have had systems in place that involved both meaningful back up funds and also ongoing buying of bitcoin that would help to remind them that they are still in their accumulation phase, even if their bitcoin holdings might get into territories that seem to be considerable profits.

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.

If guys do not have discretionary income or they have only a bare minimum level of discretionary income, then they most likely are not in a position to invest into bitcoin, and they would need to figure out ways to increase their discretionary income by increasing their income and/or cutting their expenses... and yeah, for some normal people it can be difficult to figure out how to increase discretionary income... even though young people might be able to train to improve skills or maybe even to make social connections to get higher paying jobs.

We cannot just wish ourselves to have discretionary funds, and also one way of investing into bitcoin rather than to be trading/gambling rather than investing is to realize that whatever money is being put into bitcoin could be completely lost (and/or it might be locked up for 4-10 years or longer without any guarantee of being recovered), and so the discretionary income has to be enough so that the newbie is realizing that he is investing money that he can afford to lose, so the money being used to buy bitcoin has to be in the category of "extra discretionary income."

[edited out]

Discretionary income is one of the major tool or key in Bitcoin investment because without it there won't be any funds to invest in Bitcoin and if someone dares to use money that is meant for other things, they will suffer for it as times goes by because what they are practicing is gambling and we should not squeeze out discretionary income because doing that means they are still forcing it which is bad. Yea emergency funds can be gotten anytime and it should not stop someone from investing if they already have discretionary income.

Even the newbie has to have a bare minimum of back up funds to make sure that he is not investing into bitcoin with money that is not part of discretionary funds or that he might need such money for expenses.. so no one should be investing into bitcoin without absolutely no back up funds...and otherwise, like you said, they should be ongoingly building their back up funds, especially if they are starting out investing into bitcoin with low levels of back up funds.

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...

Newbies do not need to have multiple sources of income in order to be financially stable.

Surely having discretionary income helps for financial stability, and having back up funds helps too, of course, the longer a person is buying bitcoin and also building up his back up funds, the more financial stability he is likely going to feel. 

If a person believes that it is helpful to create more than one source of income, then that could be helpful to increase discretionary funds, yet not everyone approaches income in that way, especially people who have high paying jobs might not have multiple sources of income, even though they might end up being dedicated a lot of their time towards their high income job.

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.

Don't be retarded Abbatty.  If you don't have enough funds to divide your discretionary funds into 3, then you likely don't have enough to buy bitcoin.

There is a need to keep back up funds - especially for poor people.. since if you don't got shit besides the income that you are earning, then you would have no ability to invest into bitcoin and hold it for 4-10 years or longer, so you need to figure out ways to increase your discretionary income, which sure maybe getting additional jobs might help or cutting some expenses or perhaps there might be a need to figure out ways to get higher paying work.

By the way, if you don't have enough money to set aside back up funds, and if you are still buying bitcoin with the discretionary funds that you have, then you are likely trading and/or gambling, and you also likely have no fucking clue what is discretionary funds that would be sufficient to invest... and it seems to me that you probably do not have sufficient discretionary funds to invest rather than to be fucking around with trading and/or gambling, and surely I don't recommend trading and/or gambling with bitcoin.

[Solokan]

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.

It's true that we can't invest in BTC or accumulate BTC using money that isn't from discretionary income. If we use discretionary income, we'll certainly have the potential to be safe when investing in BTC, and our mentality will be fine even when the price drops. Unfortunately, many people still prefer not to use their discretionary income to buy BTC, and ultimately, many of them lose money due to fear of seeing the price drop and selling it at a lower price than the purchase price.

Yes, investing in BTC has the potential to be successful if we use the right methods, and the science isn't complicated; just use money we can afford to lose or discretionary income.

[cyberninja2]

Guys need to have some level of back up funds in order to ensure that they are not investing beyond their discretionary funds, and I would think that guys would be smart enough to realize that the longer that they are in bitcoin, then the more they should be building various kinds of back up funds to protect their bitcoin investment... otherwise they are gambling rather than investing.

There is a need to keep back up funds - especially for poor people.. since if you don't get shit apart from the income that you are earning, then you would have no ability to invest into bitcoin and hold it for 4-10 years or longer, so you need to figure out ways to increase your discretionary income, which is sure maybe getting additional jobs might help or cut some expenses or maybe there might be a need to figure out ways to get higher paying work.

I find it highly unlikely that investors would fail to grasp the correct approach to investing in Bitcoin—particularly given how capable and intelligent they are as you have noted. Their method of establishing various reserve funds demonstrates a keen discernment therefore I see no need to take issue with their actions. Moreover when investing they would certainly not exceed their financial capacity or available cash flow. After all this principle applies not only to investors but to us as well if we force ourselves to invest beyond our income it amounts to an act of greed that inevitably leads to financial difficulties. Fundamentally any endeavor—especially Bitcoin investing—should be undertaken without compulsion ideally we should proceed in accordance with our income and financial planning exercising restraint—and perhaps holding back a little—should our expenses exceed our earnings.

This is a natural necessity for those living in poverty without setting aside savings they would be unable to truly enjoy the fruits of their labor. Moreover for those with limited income investing in Bitcoin—particularly given the long-term holding periods you mentioned—would likely place an undue financial burden on them. While they may indeed harbor a desire to invest their immediate priority must be to establish a second source of income. The goal here is to alleviate their financial strain and create the capacity to both save a little and invest. This ensures they can fulfill their financial aspirations—whether that means investing for the future or covering the daily living expenses required to sustain their lives. Fundamentally for those living in poverty having more than one source of income is the superior strategy as it offers a multitude of benefits and provides the financial stability they need to navigate their lives effectively.

[PhilosopherKing]

By managing your discretionary income properly, you can take your Bitcoin investment to a better place. The explanation you have given about backup funds and emergency funds is important for investors, but you will realize that many investors are not aware of the difference between these two fund is. Fund management principles are very important for bringing discipline to long term Bitcoin investment because the DCA method is not as easy as you make it out to be. It is easy to start accumulation Bitcoin in this method but it is not easy to manage it in the long term regardless of the price because sometimes you may feel like selling when the price increases or emotional instability when the price decreases. Above all, I think that to manage DCA in the long term, you need to have multiple sources of income and cash flow.

There is no any difference between emergency funds and backup funds.

emergency funds is a backup fund that person can use to protect investment so that when emergency happens, it will not make person to liquidate their ongoing investments at a period that is not their choosing. Bitcoin is a long time investment but emergency can come and make person to start trading, but if emergency funds is there the person can use emergency funds as a backup fund  sot that long time plan can be followed

[Patiencecrypto]

Everyone has the right to invest but indeed this is better for people who have sufficient income or in other words stable finances where basic needs have been met and there are still funds left and those funds are used to be invested, or indeed even better when making this investment into the needs section as well as the concept of needs for the future that must be prepared. But as you have said with when the income earned is only enough to meet the needs then you should not force to invest because it is likely that this will not go well, especially with the income earned this cannot make us have an emergency fund then it is an inappropriate situation to invest. So we must be able to increase the income earned first so that all can be fulfilled and can run investments and have an emergency fund as well before investing.
 

A large income or a steady income is not mandatory to start Bitcoin. If someone has irregular or low income and can set aside real discretionary income apart from essential expenses, then there is no obstacle for him to invest.

Some people may have a large income, but their expenses are also very high. Having a large income is not the main thing, but rather the main thing is whether they are able to set aside discretionary money. Many people, despite having a low income, are regularly investing with discretionary income after meeting their basic expenses. So it is not about the income being big or small, but how much discretionary income is left after meeting expenses.

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.

Low income but still want to invest, first  settle all basic needs, don't leave one  for hanging!! if you leave them hanging you are already creating a room for temptation, secondly you need discipline before you invest so not to run back to your Holdings to sell them off, because you will be tempted to.

[laijsica]

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.

It's true that we can't invest in BTC or accumulate BTC using money that isn't from discretionary income. If we use discretionary income, we'll certainly have the potential to be safe when investing in BTC, and our mentality will be fine even when the price drops. Unfortunately, many people still prefer not to use their discretionary income to buy BTC, and ultimately, many of them lose money due to fear of seeing the price drop and selling it at a lower price than the purchase price.

Yes, investing in BTC has the potential to be successful if we use the right methods, and the science isn't complicated; just use money we can afford to lose or discretionary income.

In addition to the availability of discretionary income you can buy Bitcoin with extra funds. Regular Bitcoin savings through discretionary income can be maintained in a more sustainable state, as long as you want to be consistent and plan for that long term strategy. That time period can be 4-10 years or longer. The advantage of Bitcoin through discretionary income is that you can be consistent in buying every price trend in the market.

I think most investors who are accumulating Bitcoin through discretionary income are especially those who are called weak investors (low-income investors). For them it is considered easy to have a strategy that allows them to stay regular in buying Bitcoin for a long time regardless of the price.

[Stive009]

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.

You hit the right point. When people spend their basic needs (groceries, medicine or rent) on risky places like crypto or the stock market, they are actually gambling. This cannot be called an investment.
Two things that attracted me the most in your writing:
The impenetrable wall around the budget: This is a great metaphor. Having an emergency fund or at least 6 months of living expenses set aside is not a luxury, it is a survival shield. Without this wall, even a small market shock can send the entire family down the street.
Discount season vs. panic selling: This is the main difference between a successful and a failed investor. The one who has a backup in his pocket is happy when the market falls by 20%, because he gets the opportunity to buy assets at a low price. And the one who has spent his rent money is forced to sell at a loss. This is what is called "The Market transfers wealth from the impatient to the patient."

The main basis of investment is time. And your "emergency fund" provides the strength to give your portfolio that time to grow. First you need to solidify the ground beneath your feet, then you need to dream of reaching the sky.

[Sulegzy39]

Investing is more difficult for persons with low incomes since it is difficult to set aside money for investment after meeting daily living expenditures, family obligations, and other vital expenses. Even if a person has the ability to enhance their income, they can do so by completely utilising their abilities, learning something new, or consistently applying their hard work. As a result, if their income improves, they can invest the excess money left over after daily costs. At this point, the DCA method will be most beneficial to them. They might invest their money on a regular basis in little quantities. This will relieve stress and protect them from panicking.

[Agbam]

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…

Exactly you’re on point!. Discipline is one of the biggest traits you need to have as a long term investor especially for low income earners, it’s not easy at all balancing bills, responsibilities and also investing that’s why I think small consistent investments deserves respect.

Yeah some people can do better if they try, just that extra push or effort. You know having an extra streams of income will make investing and staying consistent very easy.
Bitcoin investment is not just about money, it’s also about habits, patience, long term thinking mindset and commitment.

[Yeesha]

Loan takers also do not have to sell their bitcoin to pay for the loan in the event that bitcoin performs badly during the loan period or even if bitcoin ends up going to zero in the loan period, especially if such loan takers have already accounted for the payments of the loan through other means that they may well already have available, such as their regular income and even perhaps paying the loan from other places that they might choose to pay depending on what resources they have, when the loan is due, how the underlying (bitcoin in this case) had performed and whether there might be a balloon payment at the end of the term of the loan or not.

Let's say for instance: An individual woke up one day and decided to invest in bitcoin just because he sees others talking about their achievements through it. What did you think will be the first thing that will come to his mind?. It is the "CAPITAL" right?

And what if he lacks the ability, the basic knowledge and the capital to do so, and decided to take a loan without having any tangible way to pay back debts just incase anything happens to the capital. Definitely they will be a huge problem. The fact is that humans are unique in their own ways, we have different personalities, so as different ways of thinking. Your sense of reasoning might be different from others. For a reasonable, smart and responsible person, he will follow the appropriate ways to invest, even though he is going to borrow the money to invest. Due to unpredictability of nature, he will have to plan and ensure that they have a stabilise and tangible way to repay the debts even without depending on the profits made from the investment, and at the end they will get to tell the story about the positive experience they had in bitcoin investment.

But for someone who wants to start investing in bitcoin as a result of ignorant and greed thinking that capital is their only problem, and ignore or failed to think of how to repay the debts, talkless of acquiring the basics or fundamental knowledge. Understanding is key, and bitcoin investment requires a lot of things to make it work smoothly. Willingness to invest or being desperate to accumulate wealth is not the best approach.

[Tamaperdana]

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.

Using non-discretionary funds to invest in Bitcoin is clearly very risky, so I believe it's clear that it's not recommended for anyone to invest in Bitcoin using non-discretionary funds. This is a long-term investment, and long-term investment can only be achieved with a safe fund, often referred to as discretionary funds. Without discretionary funds, investing in Bitcoin will certainly feel like trading. I'm sure that once purchased, Bitcoin will be quickly sold. The money invested in Bitcoin is the cause, as it's essentially non-discretionary.

Therefore, when an urgent need arises or something else arises, the Bitcoin will inevitably be sold, clearly damaging our long-term investment path in Bitcoin. Therefore, I believe it's better to invest in Bitcoin using discretionary funds, whether large or small, it doesn't matter. The key point to remember is that we must successfully hold Bitcoin in the long term. So, the bottom line is, never assume that if we have a small discretionary fund and use other funds to invest, we'll be successful. That's a clear illusion.

[Showlove01]

Everyone has the right to invest but indeed this is better for people who have sufficient income or in other words stable finances where basic needs have been met and there are still funds left and those funds are used to be invested, or indeed even better when making this investment into the needs section as well as the concept of needs for the future that must be prepared. But as you have said with when the income earned is only enough to meet the needs then you should not force to invest because it is likely that this will not go well, especially with the income earned this cannot make us have an emergency fund then it is an inappropriate situation to invest. So we must be able to increase the income earned first so that all can be fulfilled and can run investments and have an emergency fund as well before investing.
 

A large income or a steady income is not mandatory to start Bitcoin. If someone has irregular or low income and can set aside real discretionary income apart from essential expenses, then there is no obstacle for him to invest.

Some people may have a large income, but their expenses are also very high. Having a large income is not the main thing, but rather the main thing is whether they are able to set aside discretionary money. Many people, despite having a low income, are regularly investing with discretionary income after meeting their basic expenses. So it is not about the income being big or small, but how much discretionary income is left after meeting expenses.

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.

You are right and that is why Bitcoin investment is not compulsory to everyone but it is necessary if you have what it takes to accumulate and hold. If someone doesn't have all it takes to start their Bitcoin accumulation then there is no point forcing it because what they are doing is pure trading because the money or funds they will be using will not come from their discretionary income. And it is very vital to always take care of necessity before any other thing and  use the left overs to invest with it.

[Cgrexp]

Let's say for instance: An individual woke up one day and decided to invest in bitcoin just because he sees others talking about their achievements through it. What did you think will be the first thing that will come to his mind?. It is the "CAPITAL" right?

And what if he lacks the ability, the basic knowledge and the capital to do so, and decided to take a loan without having any tangible way to pay back debts just incase anything happens to the capital. Definitely they will be a huge problem. The fact is that humans are unique in their own ways, we have different personalities, so as different ways of thinking. Your sense of reasoning might be different from others. For a reasonable, smart and responsible person, he will follow the appropriate ways to invest, even though he is going to borrow the money to invest. Due to unpredictability of nature, he will have to plan and ensure that they have a stabilise and tangible way to repay the debts even without depending on the profits made from the investment, and at the end they will get to tell the story about the positive experience they had in bitcoin investment.

But for someone who wants to start investing in bitcoin as a result of ignorant and greed thinking that capital is their only problem, and ignore or failed to think of how to repay the debts, talkless of acquiring the basics or fundamental knowledge. Understanding is key, and bitcoin investment requires a lot of things to make it work smoothly. Willingness to invest or being desperate to accumulate wealth is not the best approach.

Our constant urging to start early should not get in the way of their ability to choose how aggressive or how timid they are. Investors should have a lot more freedom to start, even if they are timid. Once they have their system in place, at least they have options at that point and can choose their own level. There can be many personal reasons for a change in weakness or aggressiveness. And of course, people have ongoing conflicts of interest that reasonably force them to change their priorities. There are also levels of error that people can make in making ongoing decisions about how aggressive they feel they need to be with their Bitcoin holdings based on changing personal circumstances. This includes assessing the size of their Bitcoin holdings and whether they have enough. They may end up making mistakes in their decisions, but if they have at least started, at least they will have some system and some familiarity with Bitcoin.

[Princess Leah]

Exactly you’re on point!. Discipline is one of the biggest traits you need to have as a long term investor especially for low income earners, it’s not easy at all balancing bills, responsibilities and also investing that’s why I think small consistent investments deserves respect.

Yeah some people can do better if they try, just that extra push or effort. You know having an extra streams of income will make investing and staying consistent very easy.
Bitcoin investment is not just about money, it’s also about habits, patience, long term thinking mindset and commitment.

Investing in Bitcoin without discipline is like medicine after death cause to hold for very long an investor would need to be very disciplined to the point that the person won't be tempted by volatility especially when the market surges, at some point the market tend to yield lots of profits for an investor that's yet to reach overaccumulation stage but only the disciplined would avoid being tempted to take profits that early. 

 Well if an investor can't secure an extra income such person shouldn't be pressured about it but continue being consistent with what's available till they're able to secure extra stream of income, afterall slow but steady also implies in Bitcoin investment too so those who don't have enough shouldn't be pressured into getting money through silly ways for Bitcoin investment.

[The Founding Titan]

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.

Even having an emergency fund or any backup funds is not possible without the discretionary income so for a person to be able to invest in bitcoin the discretionary is a must-have, there is no way to cut around it because if the investment is done outside of your discretionary income it can not be sustained so before a person should even start worrying about their emergency fund they should first make sure they have their discretionary available to them because without it that bitcoin investment won't be a bitcoin investment.

[MorganaX]

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.

It's true that we can't invest in BTC or accumulate BTC using money that isn't from discretionary income. If we use discretionary income, we'll certainly have the potential to be safe when investing in BTC, and our mentality will be fine even when the price drops. Unfortunately, many people still prefer not to use their discretionary income to buy BTC, and ultimately, many of them lose money due to fear of seeing the price drop and selling it at a lower price than the purchase price.

Yes, investing in BTC has the potential to be successful if we use the right methods, and the science isn't complicated; just use money we can afford to lose or discretionary income.

Bitcoin investment is a risk on its own but what's exactly is not risky in the life we are living? I mean even the life itself is a risk so that why the risk with investing in Bitcoin is worth taking but still we need to know that we need to do some certain things right even when we are about in Bitcoin and one that is using money that's isn't meant for our necessities for buying Bitcoin because we can't fly around those basic needs and if we use money meant for basic things in our life then we will surely end up tempering with your Bitcoin portfolio when the need arises so getting a job that give you a space to have discretionary income is important.

[Creeper0]

Bitcoin investment is a risk on its own but what's exactly is not risky in the life we are living? I mean even the life itself is a risk so that why the risk with investing in Bitcoin is worth taking but still we need to know that we need to do some certain things right even when we are about in Bitcoin and one that is using money that's isn't meant for our necessities for buying Bitcoin because we can't fly around those basic needs and if we use money meant for basic things in our life then we will surely end up tempering with your Bitcoin portfolio when the need arises so getting a job that give you a space to have discretionary income is important.

There is a risk of death even while eating, we have seen such incidents in reality. There is a risk of death even while walking on the road, we see such incidents happening regularly, yet we continue to do these things regularly. Even in the work that you consider the safest, there is a risk of death. But we can control the level of risk by using our knowledge and through skill. Even after there is a risk in every work, we have to do those things out of necessity and we have become so skilled in doing the work that those risks do not seem like risks to us.

If we have the ability, Bitcoin investment should be added to the list of daily tasks like daily work and by acquiring knowledge and skills, we can reduce the level of risk of Bitcoin investment. Bitcoin investment is not risk-free, but with long-term proper planning and right steps at the right time, we can reduce that risk which can be as good as eliminating it.

[Rabata]

There is no any difference between emergency funds and backup funds.

You have actually erased the difference between emergency fund and backup fund. As you said "there is no difference between emergency fund and backup fund" if there was no difference, then we would never use them under different names and for different purposes. Emergency fund is your fund from which you can handle sudden medical treatment, job loss, family expenses, bills, food, rent in your bad or emergency situation. And emergency fund should be in a place from which you can use it very quickly. But backup or reserve fund can sometimes be helpful in investment planning. For example, if our cash flow decreases, we can continue DCA or do dip buying on additional opportunities. But it is not right to do dip buying with emergency fund. Therefore, it is clearly understood that emergency fund and backup fund are not the same.