Even if a person does not have a reliable income, he can invest if he is able to find a discretionary income through proper financial management. For example, if a person does not have a reliable income, if he is able to find a discretionary income at the end of the month or at the end of the week, he can still invest. There are many people among us who invest in Bitcoin but do not have a reliable source of income. If that person gets a job every day, then he can work, if he does not get a job, then he cannot work that week or day.
I feel like having a reliable source of income gives you more peace than not having a source of income, and then you can do financial management, because without a proper source of income, how do you plan financial management? Because from the beginning, you need, and so from the beginning it is best for you, to get a job, because that is the only period you will enjoy your investment plan. When you don't have money, there is no way you can invest when you don't have money, look for money and then come back and invest.
We do not need a reliable source of income to invest. If a person waits for a reliable income to invest, then it will never be the right decision for him. If a person has a source of income, be it reliable or non-reliable, and if he is able to find a discretionary income from his source of income, then he can invest.
For anyone who wants to invest in Bitcoin, you can assure them that they need a source of income because even when you want to do DCA, if you don't have a source of income, how can you want to be consistent. And income is important in every aspect, so you need fuel to fuel your car for it to function, and the same thing goes for does that want to invest they need money to invest, so this shows how money is important.
Yes I personally feel the same way,
I see most people post that Bitcoin is for everyone and you don't have to be financially stable to invest, but they get it all wrong.
How will you get a discretionary income, if you don't have a good income that can cover all your bills and yet still have a left over?
The main money for investments is discretionary income which is leftover funds after payments of bills and other major payments, and if you you can only afford payments of bills then you will classify that as high risk which is not advisable. Mind you most people don't even have enough money to pay for all their bills.
So
the bitter truth is that Bitcoin is not meant for those who are not financially stable.The concept of financial stability may well be a moving target, since it is quite likely that even relatively poor people will go through periods in which they have more funds available and periods in which they have less funds available.
If they are always under stress about being able to pay bills, and they never have enough money (such as more than 1-2 weeks of cash to pay expenses), then they might not have enough confidence to buy bitcoin... so ultimately they have to decide - including determining if they were to put some relatively small amount into bitcoin, such as $10 from time to time, if they woudl be able to keep their finances strong enough so that they won't have to end up tapping into that bitcoin in a period of less than 4 years, then maybe they don't have enough discretionary funds to buy bitcoin.
In any event, the question of whether a guy can invest into bitcoin is not an absolute black line that is clear, even though surely a guy does need to have discretionary funds, yet he does not necessarily need to be stable in order to determine, from time to time, that he has a sufficient enough extra amount that he is able to put it into bitcoin.
For sure, the less money that a guy has to work with, and maybe he even has difficulties earning income (based on age and/or health and/or other reasons), then he may well be in a position in which he never is in a position in which he has enough discretionary funds that he would be able to feel that he could put that money into bitcoin for 4-10 years or longer... so then it might be reasonable for him to determine that he does not have sufficient funds to invest into bitcoin.
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And I also agree with what you said because they think that without a stable income DCA (Diversification Asset Allocation)
Do you have a brain?
Are you just making shit up?
DCA = Dollar cost average
What the fuck does it have to do with diversifiation? Get the fuck out of here with your throwing in bullshit and misinformation. .and failing to use your brain.. to the extent that you might have one.
on accumulated Bitcoin is certainly not possible as that is the main focus for someone trying to invest in Bitcoin. Therefore what you said about them is certainly very true in my opinion considering what others have said. This is essential for everyone especially those with discretionary income to achieve life goals. Sometimes people will pay bills and pay for things that are already obligations that must be met.
If we don't have discretionary income, we must have a job that we designate as an alternative.
Bullshit. You don't necessarily need to have a second job in order to increase your discretionary income, even though getting a second job might be one of the ways to increase discretionary income.
To increase discretionary income, you can engage in a variety of ways to increase income and/or to cut expenses. It does not have to be getting a second job as proclaimed to be a "must."
If our primary income sometimes has to be used for necessities and that's also something that must be spent. With the remaining funds we can then invest in our future assets even if the amount is small but it's not a problem because the main principal has been met. Therefore, we must have funds set aside for our needs, even when we're in a difficult situation. Having these funds will certainly serve as a tool and not interfere with our Bitcoin investment, accumulating it over the long term.
Sure, it is likely that anyone who is living will have ongoing basic expenses that need to be covered, so if they are paying their ongoing basic expenses through income as it is coming in, then there tends to be some benefits to have extra funds on the side in the event that income goes down and/or expenses go up, and within the context of investing into bitcoin, we likely will want to protect our bitcoin from being tapped into at a time that is not of our choosing, so there becomes even more of a justification to maintain extra funds, besides merely the income, to be able to cover any expenses or that might cause us to run out of funds, so that we have no choice but to tap into our bitcoin... especially since many times, there may be a need to plan to invest in bitcoin for 4-10 years or longer, and it can become difficult to not tap into the bitcoin if both the income coming in does not stay high enough to cover various expenses (especially the basic ones), so there likely would be needs to have back up funds to tap into in the event that income goes down and/or expenses go up.
Yes I personally feel the same way,
I see most people post that Bitcoin is for everyone and you don't have to be financially stable to invest, but they get it all wrong.
How will you get a discretionary income, if you don't have a good income that can cover all your bills and yet still have a left over?
Someone, doesn't need to be financially stable before you can have a discretionary income. For instance, I'm not working or my job can only take care of my basic needs and monthly expenses but I have a house that I'm the one collecting the rent. If I get the rent, I can use part of it for my discretionary income and invest it into bitcoin using DCA method and spread it over many weeks.
Another example is a gambler that a gambler who hit the jackpot. He can start his bitcoin investment and use DCA to spread it out in several weeks. Someone can give me money as a gift and I use it to buy my first bitcoin because I can do without the money and I wasn't expecting it and don't have any plan to use the money.
If you are waiting till you are financially stable before you will start your bitcoin investment, you might end up not investing at all or at old age. If you have started your bitcoin investment without being financially stable, you have to work on your income so that you can increase it and have a regular discretionary income because that's what matters the most no matter how little it is. So that, you can keep your DCA consistent and persistent for 4-10 years and above. In reference to your last paragraph, guys who start to invest into bitcoin might take 4-10 years or longer to build up their bitcoin investment, even though there surely might be guys who are able to build up their bitcoin investment in shorter periods of time through either lump sum investing and/or front-loading of their investment. In either case, there still can be questions regarding how the bitcoin investors either maintain their bitcoin investment with the passage of time and/or whether they are still adding to their bitcoin investment. Surely more discretionary income would be needed in order to continue to add to the bitcoin investment as compared with guys who might merely be maintaining their bitcoin investment and not necessarily adding to it nor withdrawing from it.
