JJG’s Outline of Bitcoin Investment Ideas

[JayJuanGee]

I spotted your first point from the first quote where you said an investor must not wait to build a perfect emergency funds before getting started in accumulating bitcoin that it will be better to start first in buying bitcoin as soon as the investors discretionary income is ready, which I think is fair enough, but you digressed again in your second quote saying that it will be better to be prepared in advance which you’re still indirectly insisting that the emergency funds should be kept in advance before starting to buy bitcoin which I am a bit confused with the whole idea and which one to chose. For me I think that the best to follow is to start first in accumulating bitcoin if we have the available discretionary income because if you say that you want to build a perfect emergency funds of at least a minimum of 3-6 months of individuals daily expenses it will take many people so many years to be able to save this amount all together and they might probably not even continue the bitcoin investment again as the future is filled with uncertainty so no one knows what might become of them.

And again the emergency funds you’re keeping is strictly to protect your bitcoin investments even though without being a bitcoin investor we still need an emergency funds for other things as human beings, but in this sense I think the emergency funds being talked about here is for our bitcoin investment. So in this case it will be unwise to keep an emergency funds without having the main bitcoin investment that you want to protect it from in case of an emergency situation. So for me I think the best thing to do is to just start immediately we have discretionary income to buy bitcoin and as time goes on we can be building the emergency funds even along side while buying bitcoin, we can still decide to allocate part of the discretionary income to emergency funds and the other part to buying bitcoin and hold.

For me building your emergency fund shouldn't wait because emergency could occur any given time. It crucial that you build your emergency fund immediately you start your bitcoin investment incase of emergencies so that you don't sell out of panic.

For me the perfect time to build your emergency fund is when you have discretionary income. Procrastination has made lots of investor not to build their emergency fund forceing them to panic sell during emergency. since emergency fund acts as a strong defence for your investments building it alongside your investments is better and wiser.

When a person comes to bitcoin, he already has a certain practice in place, and so the idea of emergency and back up funds is to add towards protecting the bitcoin stash, and if a guy is building his back up funds while he is building his bitcoin, stash, then his emergency funds are becoming greater and greater and greater with the passage of time, and greater than they had been prior to starting investing into bitcoin. 

It seems to me to be thinking about emergency funds/back up funds as something that is likely ongoingly improving along side the building of a bitcoin stash.

Of course, everyone has to assess their own situation in light of how likely it might be that their income might decrease and/or their expenses might go up. including considering how much money might be needed for such scenarios - including considering the hierarchy of funds - which funds would be spent first and/or any other measures that might need to be taken as the funds are potentially increasingly depleted.. Ideally shortfalls in cash would pass quickly, and if they pass, then there also would be hierarchies in terms of the replenishment of any back up funds that had ended up getting used and which funds would be replenished first. 

Many of the processes are gradual, yet every once in a while there could be high demands upon money all at once, just like every once in a while some bonus pay might come in, too.

You are right, some people that are into bitcoin investment one of the reasons why they usually sell their bitcoin at an an early stage is because of having some financial challenges and using the bitcoin profits to go into another business, which is very wrong to do as an investor, we usually advise people to have a backup funds, but they usually don’t see it as a necessity and that is why a lot of investors don’t have a backup funds, and when they run into some challenges, they sell off their bitcoin and use it to solve the challenges and again when they want to invest in something new, they sell off their bitcoin and use it to invest in something new, I want to ask how sure are you that the new business or investment will not crash, some people are really making big mistakes and they are doing it ignorantly because I believe if they know the effect in the future they wouldn’t do it.

Investors who do not have strong back funds are likely going to sell their bitcoin portfolio premature if they faced with real life emergency. They would be forced to sell their bitcoin portfolio prematurely to take care of their emergency needs, which why investors are encouraged to build a strong back funds while investing in bitcoin. Real life Emergency strike without warning people, in other not to sell prematurely, putting your backup funds in place will protect your bitcoin investment and helps you hold over the long term.

I disagree with you, back up funds is not what we need for real life and major emergency rather what we need for real life challenge or emergency is our emergency funds so don't get it twisted. Back up funds is usually for minor challenge such as repair of any personal belongings and some other things though some people use these words in place of the other but it's not actually the same thing so we should take note of that so we don't make mistakes.

We can call it whatever we like, yet some of the funds that we keep available will be more flexible than other, and in the context of this thread we are talking about trying to potentially make our lives better by investing in bitcoin, yet we are not guaranteed to be successful in what we are trying to achieve.

Guys can have designations in regards to some of their funds being for specific purposes, and so their can be priority in expenses in which some funds would not be touched or redesigned unless under certain circumstances, whether it rises to life or death or some other kind of shortfall in cash.  So if we are protecting our bitcoin, it is up to us regarding how high we place such goals to protect it versus some other reasons that we might tap into our bitcoin.. and yeah, we can change designations and priorities whenever we like... and some things might have a higher priority that we are reluctant to change their priority absent certain conditions that maybe force us to redesignate based on some higher priority concern that might develop.

[abaeze]

Investors who do not have strong back funds are likely going to sell their bitcoin portfolio premature if they faced with real life emergency. They would be forced to sell their bitcoin portfolio prematurely to take care of their emergency needs, which why investors are encouraged to build a strong back funds while investing in bitcoin. Real life Emergency strike without warning people, in other not to sell prematurely, putting your backup funds in place will protect your bitcoin investment and helps you hold over the long term.

I disagree with you, back up funds is not what we need for real life and major emergency rather what we need for real life challenge or emergency is our emergency funds so don't get it twisted. Back up funds is usually for minor challenge such as repair of any personal belongings and some other things though some people use these words in place of the other but it's not actually the same thing so we should take note of that so we don't make mistakes.

No matter whether you call it a backup fund or an emergency fund, in reality, it’s just a difference in semantics. Because the sum of all emergency funds, reserve funds, cash flow and other necessary funds is called a backup fund. So, no matter how small or big the danger is, the main goal is to keep the investment safe and secure from all kinds of adverse situations and prolong it as planned. So, instead of arguing about these issues, it is more logical to focus on how to increase the accumulation than to talk too much.

[Sobz]

Investors who do not have strong back funds are likely going to sell their bitcoin portfolio premature if they faced with real life emergency. They would be forced to sell their bitcoin portfolio prematurely to take care of their emergency needs, which why investors are encouraged to build a strong back funds while investing in bitcoin. Real life Emergency strike without warning people, in other not to sell prematurely, putting your backup funds in place will protect your bitcoin investment and helps you hold over the long term.

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning. An investor who invests in Bitcoin without having any plan for how much should go for investment and what should be left for other expenses may think about selling their investment. It is very common for people to start their investments without having a backup fund or emergency fund, but as time progresses, they make arrangements to establish a backup fund as financial support to address arising issues. It is even more important for investors to understand how money should be spent and managed, but if you don't understand this and think having a backup fund will save you, the truth is that the investment will be a very difficult one.

[alankasman]

You can use as much money as you can afford to lose in Bitcoin investment according to the DCA method. Because when a person invests in Bitcoin and invests as much money as he owns the same amount of Bitcoin, so of course you will have your investment under your control.
The more you invest, the more likely you are to reach the top of success, in the current situation it is easiest to maintain Bitcoin investment, because you will invest according to the DCA method and you will form an emergency fund to protect your investment. The longer your Bitcoin investment is, the more Bitcoin you can accumulate, and the greater your chance of success will increase.

However it often happens that many people nowadays don't necessarily invest in Bitcoin or other investments. What I need to say is that sometimes as you mentioned healthy or stable finances can facilitate all aspects of Bitcoin investment whether using the DCA method at the purchase stage or by having something that can benefit from our investments.

Moreover with the financial sufficiency that we have of course with whatever amount we invest in Bitcoin I think difficulties will not come to us. In other words the financial stability that is owned will certainly strengthen someone in making decisions about Bitcoin investments and also the more spending on investments will certainly be better for our investment levels for the next few years because currently, it is clear that many people say that the prices that occur in the market because of the drastic decline make some people unable to hold on to their existing Bitcoin ownership so that things like this they misinterpret with other reasons - they only want the profits and even then they see the market cycle which is always their spectacle both weekly, monthly and even yearly.

[iamsange]

No matter whether you call it a backup fund or an emergency fund, in reality, it’s just a difference in semantics. Because the sum of all emergency funds, reserve funds, cash flow and other necessary funds is called a backup fund. So, no matter how small or big the danger is, the main goal is to keep the investment safe and secure from all kinds of adverse situations and prolong it as planned. So, instead of arguing about these issues, it is more logical to focus on how to increase the accumulation than to talk too much.

These two concepts emergency funds and reserve funds are essentially synonymous as their underlying functions are identical. One key function worth highlighting is their role as a vital support mechanism during times of adversity. The existence of such funds ensures our financial security and stability when we encounter difficulties. This is particularly critical for those of us who actively trade in the financial markets should we experience a downturn or a decline in asset values these funds serve as the foundational capital that enables us to recover from the setbacks we face while navigating the trading landscape. Thus both emergency funds and reserve funds serve as the essential resources that empower us to bounce back from financial challenges.

[cyberninja2]

No matter whether you call it a backup fund or an emergency fund, in reality, it’s just a difference in semantics. Because the sum of all emergency funds, reserve funds, cash flow and other necessary funds is called a backup fund. So, no matter how small or big the danger is, the main goal is to keep the investment safe and secure from all kinds of adverse situations and prolong it as planned. So, instead of arguing about these issues, it is more logical to focus on how to increase the accumulation than to talk too much.

Large or small amounts are not a factor when it comes to investing in Bitcoin. In my opinion when investing in Bitcoin someone will always prepare two funds a reserve fund and an available fund. This way when a problem arises their progress won't be halted halfway through. This is all due to the reserve fund which can help in the event of difficulties that become major problems when someone experiences significant risks in investing in Bitcoin.

The only similarity between these funds is that the direction and objectives will be consistent with future events so that someone whether they are just starting out or have been investing for a long time will certainly not feel the slightest bit anxious about making decisions regarding accumulating any amount even though sometimes market conditions are on the right track or not which certainly will not feel like a high risk because there is already preparation when things happen that are beyond a person's expectations.

[Futurexxx]

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning.

Stop trying to make a mockery of yourself bro, back up funds like emergency and reserve funds are very important for the growth and sustainability of your Bitcoin investment because real life emergencies must surely come at a point in your accumulation or investment journey, and if you do not have emergency funds to safeguard your Bitcoin investment from it, you are certainly going to sell prematurely, even against your will, so back up funds are very important if you want to be successful in holding strong for years without tempering with it or not.

So you spoke of planning right?
So what way can we plan our investment without having emergency and reserve funds in place?
I would be curious to know the planning you are talking about without having backup funds in place to protect your bitcoin investment, because talking is cheaper than actions.

[Loyang]

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning.

Emergency fund is very important for every person and if a person does not create an emergency fund then he can see his investment die prematurely in the future. Because emergency fund is created to protect our holding from unexpected financial calamities. For example, suppose you have purchased a land and put all your money or some amount of money, if you do not have an emergency fund. If within a few days of purchasing your land, you or someone in your family falls ill. If you do not have money at that time then you will have to sell your land and take treatment with that money. If you had created an emergency fund then you might not have had to sell the land. The importance of emergency fund in our life is immense.

If you are not able to understand my comment, then you can read this comment of JayJuanGee sir. I hope you will understand after reading this comment.

When a person comes to bitcoin, he already has a certain practice in place, and so the idea of emergency and back up funds is to add towards protecting the bitcoin stash, and if a guy is building his back up funds while he is building his bitcoin, stash, then his emergency funds are becoming greater and greater and greater with the passage of time, and greater than they had been prior to starting investing into bitcoin.

It seems to me to be thinking about emergency funds/back up funds as something that is likely ongoingly improving along side the building of a bitcoin stash.

Of course, everyone has to assess their own situation in light of how likely it might be that their income might decrease and/or their expenses might go up. including considering how much money might be needed for such scenarios - including considering the hierarchy of funds - which funds would be spent first and/or any other measures that might need to be taken as the funds are potentially increasingly depleted.. Ideally shortfalls in cash would pass quickly, and if they pass, then there also would be hierarchies in terms of the replenishment of any back up funds that had ended up getting used and which funds would be replenished first.

Many of the processes are gradual, yet every once in a while there could be high demands upon money all at once, just like every once in a while some bonus pay might come in, too.

[Silikiem]

Investors who do not have strong back funds are likely going to sell their bitcoin portfolio premature if they faced with real life emergency. They would be forced to sell their bitcoin portfolio prematurely to take care of their emergency needs, which why investors are encouraged to build a strong back funds while investing in bitcoin. Real life Emergency strike without warning people, in other not to sell prematurely, putting your backup funds in place will protect your bitcoin investment and helps you hold over the long term.

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning. An investor who invests in Bitcoin without having any plan for how much should go for investment and what should be left for other expenses may think about selling their investment. It is very common for people to start their investments without having a backup fund or emergency fund, but as time progresses, they make arrangements to establish a backup fund as financial support to address arising issues. It is even more important for investors to understand how money should be spent and managed, but if you don't understand this and think having a backup fund will save you, the truth is that the investment will be a very difficult one.

Apart from the fact that you seem to be undermining the power of an emergency fund or back up funds for our bitcoin investment, you also seem to be getting it wrong with how your bitcoin investment should be planned. I know we all have our different goals when it comes to bitcoin investment but I’m telling you that for a long term bitcoin investment it will be difficult to survive the investment without having an emergency funds. Not to say that you cannot start investing in bitcoin if the emergency funds isn’t in place yet, but along the line if you fail to build an emergency funds for the investment then it’s not going to survive for the long term, except maybe in a situation whereby you have either your parents, guardians, friends or relatives who takes care of your emergency financial situations. It will be practically impossible for a long term investor to succeed in his bitcoin investment without an emergency funds because emergency can occur at any time when you least expected it and if you don’t have the funds at hand or you have no one to reach out to who can help you out immediately then you will tend to selling off your bitcoin investment just so you can get money to sort out yourself in such emergency situations and by so doing your bitcoin investment will crumble.

Lastly, as a long term bitcoin investor, it’s advisable you invest with a discretionary income which is the amount left with you after sorting out your basic financial expenses or needs. That is to say that before you invest, you must first of all settle your basic financial needs, after doing that, the  money left with you should be what you’ll use to invest In bitcoin and not you trying to it the other way round by allocating money for your bitcoin investment first before looking into sorting your basic financial expenses. It will be problematic if you do it that way because the most important thing to do as a man is to sort out our basic needs first once we receive our income, and there are situation that your basic financial needs or obligations will be even more larger and by the time you might have probably allocated some money first for your bitcoin investment and you then want to sort your basic needs the money left with you might not be enough for the expenses that month and by so doing you’ll also resort to selling off your bitcoin investment just so you can get more cash to sort out the basic needs and you still end up crumbling your investments. That’s why it’s always advisable to first sort out our basic needs before investing in bitcoin with the discretionary income left with us.

[Cyber_warrior]

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning.

If you must know emergency funds and reserve fund some times is as important as your investment itself because because they serve as protection against anything that will affect your investment. Emphasis on having an emergency or back up fund isn’t meant to sound like a threat it’s simply about managing risk properly which is a key part of good planning. If people don’t treat it as a priority it’s easy to overlook it until it’s too late.

Not having a backup fund doesn’t mean failure is guaranteed but it makes your investment more exposed and vulnerable and in the end the goal is to reduce unnecessary risk and not take chances that can be avoided.

[Abbatty]

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning.

If you must know emergency funds and reserve fund some times is as important as your investment itself because because they serve as protection against anything that will affect your investment. Emphasis on having an emergency or back up fund isn’t meant to sound like a threat it’s simply about managing risk properly which is a key part of good planning. If people don’t treat it as a priority it’s easy to overlook it until it’s too late.

Not having a backup fund doesn’t mean failure is guaranteed but it makes your investment more exposed and vulnerable and in the end the goal is to reduce unnecessary risk and not take chances that can be avoided.

I don’t think your emergency funds or reserve funds is as important as your investment, these are one of the reasons some newbies delay their investment and you it never advisable  to delay investing in bitcoin. In as much as you have your discretionary income it well said that your get into investing and then the emergency and reserve funds can come after that.

Well don’t get me wrong, emergency funds is always advisable to be on the corner but never allow it delay why you invest.

[Sim_card]

Not having a backup fund doesn’t mean failure is guaranteed but it makes your investment more exposed and vulnerable and in the end the goal is to reduce unnecessary risk and not take chances that can be avoided.

Any long-term investor that decides not to set up his emergency funds as he is investing because he believes it's not important will end up squashing his bitcoin investment and if possible sell at loss if bitcoin price is below his entry point when he's hit with unforeseen emergency because you did not prepare for unforeseen circumstances which must play out during your accumulation period.

We call such investors gamblers because if they sell at loss, they'll start calling bitcoin scam of which they were the ones at fault because they feel it's irrelevant to set up emergency and other backup funds for no reason. Such investors are unserious with their bitcoin accumulation because they're only wasting their time, money and energy.

This is why it's mandatory that a long-term bitcoin investor should set up at least his emergency funds of 3-6 months of his monthly expenses in order to safeguard his bitcoin investment when a real life emergency occurs as he is building his bitcoin portfolio with DCA overtime.

The punchline is if you don't set up your backup funds and you are investing in a long-term failure is guaranteed until, you do the needful.

[Rockson1]

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin. I think success in investment is more about planning.

Dude but you just said emergency funds and back up funds are important, what makes you think emergency funds won't be a threat to your Bitcoin investment at some point of your acumulation if you do not have it, I do not know if you having following up very well, your statement here validates that is either you are confused on what to say or you know what to say but may be you don not know how to present it in writing, dude emergency funds and back up funds are very much needed and important to me every Bitcoin investor because if you do not need them today, you might be needing them tomorrow or in the future, I'm very sure that you know that emergency do not come informed, it comes sunndenly when no one expects it that why it is called emergency, what if you do not have emergency funds as an investor and it occurs, what will you do, be sincere won't you want to withdraw something from your investment to solve the problem, something that wouls have avoided.

You are funny where you said success in is about planning, so you think having an emergency funds and reserve funds is not planning? Those and figuring out your discreationary income are the major planing as far as we are talking about Bitcoin investment, you would have said that we are not mandated to build emergency and reserve funds from day one, we can build them along side with our Bitcoin acumulation but as for saying they are not threat to our investment, I will be needing your clarification on that if possible.

[JayJuanGee]

No matter whether you call it a backup fund or an emergency fund, in reality, it’s just a difference in semantics. Because the sum of all emergency funds, reserve funds, cash flow and other necessary funds is called a backup fund. So, no matter how small or big the danger is, the main goal is to keep the investment safe and secure from all kinds of adverse situations and prolong it as planned. So, instead of arguing about these issues, it is more logical to focus on how to increase the accumulation than to talk too much.

These two concepts emergency funds and reserve funds are essentially synonymous as their underlying functions are identical. One key function worth highlighting is their role as a vital support mechanism during times of adversity. The existence of such funds ensures our financial security and stability when we encounter difficulties. This is particularly critical for those of us who actively trade in the financial markets should we experience a downturn or a decline in asset values these funds serve as the foundational capital that enables us to recover from the setbacks we face while navigating the trading landscape. Thus both emergency funds and reserve funds serve as the essential resources that empower us to bounce back from financial challenges.

We are not talking about trading in this thread.

Emergency funds and reserve funds are not synonyms, even though they are both kinds of back up funds. 

We are talking about such concepts in the context of bitcoin investing, and I would imagine if we might set goals for ourselves to build up our bitcoin investment for 4-10 years or longer, then we need to have various back up funds to make sure that we do not have to tap into our bitcoin at a time prior to the 4-10 years running.

Emergency funds would be the last level of back up funds prior to tapping into bitcoin, and reserve funds have more flexibility to use them for whatever, whether saving up for some purchase or saving up to buy bitcoin on the dip.

Not having a backup fund doesn’t mean failure is guaranteed but it makes your investment more exposed and vulnerable and in the end the goal is to reduce unnecessary risk and not take chances that can be avoided.

Any long-term investor that decides not to set up his emergency funds as he is investing because he believes it's not important will end up squashing his bitcoin investment and if possible sell at loss if bitcoin price is below his entry point when he's hit with unforeseen emergency because you did not prepare for unforeseen circumstances which must play out during your accumulation period.

We call such investors gamblers because if they sell at loss, they'll start calling bitcoin scam of which they were the ones at fault because they feel it's irrelevant to set up emergency and other backup funds for no reason. Such investors are unserious with their bitcoin accumulation because they're only wasting their time, money and energy.

This is why it's mandatory that a long-term bitcoin investor should set up at least his emergency funds of 3-6 months of his monthly expenses in order to safeguard his bitcoin investment when a real life emergency occurs as he is building his bitcoin portfolio with DCA overtime.

The punchline is if you don't set up your backup funds and you are investing in a long-term failure is guaranteed until, you do the needful.

Since investors build up their bitcoin investment and their backup funds at the same time, they likely have to figure out how much they need of each.  We frequently talk about at least 3 months, yet it could take them some time to get their back up funds to that level, and as they are building up such back up funds, they are also building up their bitcoin holdings.  I think that it would be a bit problematic for poor people to be holding 6 months of cash, even though as their bitcoin grows, it could be justifiable, but it seems like a lot of cash to be holding... so my point is that guys have to figure out how much they need to keep based on their income and/or expenses situation... and perhaps the less reliable their income/expenses, then the more back up funds they would keep.

[Rockstarguy]

I don’t think your emergency funds or reserve funds is as important as your investment, these are one of the reasons some newbies delay their investment and you it never advisable  to delay investing in bitcoin. In as much as you have your discretionary income it well said that your get into investing and then the emergency and reserve funds can come after that.

Well don’t get me wrong, emergency funds is always advisable to be on the corner but never allow it delay why you invest.

I don't think the emergency fund is a reason why some newbies delay investing in Bitcoin. The main reason is ignorance, which often manifests as waiting for the right time to buy Bitcoin or thinking Bitcoin is too expensive. An emergency fund is not a problem and is not something too difficult to obtain.

If you find Bitcoin interesting and are willing to invest, it is very possible to create an emergency fund. This can be done by understanding your income and knowing how to manage it. Don't think an emergency fund is a difficult task for investors; it is just about management, knowing how much to invest, how much to reserve for emergencies, and how much to spend on expenses.

[slaman29]

Some people does not understand its important unless the experience worst situation in life.

The point for having an emergency funds is not all about to grow their capital, but rather on how to protect their investments. Since on our investment we face lots of risk and with the help of our emergency funds it help us stabilize everything also to survive when there are sudden challenges came.

Trying to mix it up with their investment will ruin everything that's why they should separate it and know how to handle their finances well.

Its also got something to do with what economic conditions they were born into. Some people live in countries with good welfare, good benefits, good pension. Some of us tho have none of that. Totally on your own, and parents rely on you once they retire. Hence the natural logic of emergency funds... because we have no safety net.

Then again I guess the ultimate issue is people still see 'investment' as a gamble. Of course all investments are practically a gamble but gamblers see only big potential, ignore the downsides.

[Derekfunds]

The fact that someone can buy bitcoin with any amount of money is very good, the DCA strategy is what I’m using and it’s working very well for me because I use any amount to accumulate weekly and I’m not in any kind of pressure I’m just accumulating slow and steady. Low income earners can always invest in bitcoin as long as they have discretionary income no matter how small it is, if not for this I’m sure a lot of people won’t have invested in bitcoin, let’s just imagine that if you want to invest or buy bitcoin you most buy 1 bitcoin, it will be very difficult for a lot of people to invest, but since is divided into unit it makes it very easy for people to invest in bitcoin. DCA strategy makes it very easy for everyone.

You are right , May fails to understand this , they want to be fully ready before starting, of which Bitcoin investment journey doesn’t require people to have so much before starting, with the little they have , you can start from there,  accumulations is not a small journey , it’s for long term , with what someone is earning , you can start your journey.

I had that kind of mindset before ,to have so much before starting, but my friend who was in the journey talked that out of my head , and I’m happy I listen to him , with what I’m earning, I make sure I accumulate as little as I can.

Having such mindset to be fully financially stable before we can start bitcoin investment is a wrong approach and such approach will lead to missing out so many opportunities. Let avoid procrastination and invest in bitcoin with the little we have and as many already known with the help of DCA method we can accumulate bitcoin with little funds and keep the consistency going either weeks by weeks or months by months depending on how we place our finances.
 Waiting for financial breakthroughs before one can invest in bitcoin isn’t a smart move, invest with the little funds and have a long term mindset so that one won’t be moved by daily market volatility instead the volatility will all be seen as a privilege and opportunity to buy more and more. 

You are right there is no need for someone to want to be financially stable  before they start their Bitcoin investment because what is needed to start is our discretionary income and if someone can get this discretionary income whether their finance is stable or not they are actually good to start their accumulation journey. If someone wants to be financially stable before they start investing in Bitcoin it is possible they may not get that stability till the end of life because stability can not be easily achieve.

[Saltysugar99]

I don’t think your emergency funds or reserve funds is as important as your investment, these are one of the reasons some newbies delay their investment and you it never advisable  to delay investing in bitcoin. In as much as you have your discretionary income it well said that your get into investing and then the emergency and reserve funds can come after that.

Well don’t get me wrong, emergency funds is always advisable to be on the corner but never allow it delay why you invest.

I don't think the emergency fund is a reason why some newbies delay investing in Bitcoin. The main reason is ignorance, which often manifests as waiting for the right time to buy Bitcoin or thinking Bitcoin is too expensive. An emergency fund is not a problem and is not something too difficult to obtain.

If you find Bitcoin interesting and are willing to invest, it is very possible to create an emergency fund. This can be done by understanding your income and knowing how to manage it. Don't think an emergency fund is a difficult task for investors; it is just about management, knowing how much to invest, how much to reserve for emergencies, and how much to spend on expenses.

If a newbie really waits for a better entry, it will be a missed opportunity. But it is not right to conclude from there that emergency fund is not a big issue, or a relatively easy matter. For many people it is actually a very real constraint.

You say that building an emergency fund is not a difficult matter, but that depends on the person. For someone who has low income, tight expenses, family obligations, irregular cashflow, it becomes difficult to build back up funds and then invest in Bitcoin. Because his discretionary income is under pressure. Some guys can do it easier than others. So I would not dismiss that part as if it is only a management slogan and nothing more.
The point of emergency fund is not that it will be an excuse to delay Bitcoin investment. The point is, without some backup, a guy can easily end up putting his bitcoin at risk. Because if he has no cash and then real life hits job loss, medical bill, family emergency, rent issue then what happens? He is much more likely to sell his BTC at the wrong time. So the problem is not merely whether he started. The problem is whether he started in a way that was sustainable.

A guy does not need to build some perfect or huge emergency fund before starting Bitcoin. But he also should not behave as having no back up at all.Better way is what you yourself said both can be built at the same time.Small bitcoin purchases.Small back up fund growth.Stronger cash flow habits.

So yeah, management matters. Income awareness matters. Budgeting matters. But emergency funds are not some minor side issue. They are part of the foundation that helps protect the investment so that the investor is not forced into dumb decisions later. a newbie does not need perfection before buying bitcoin, but he does need to avoid reckless beginnings. And having at least some back up is part of not being reckless.

[Ashawowo(OS)]

Investors who do not have strong back funds are likely going to sell their bitcoin portfolio premature if they faced with real life emergency. They would be forced to sell their bitcoin portfolio prematurely to take care of their emergency needs, which why investors are encouraged to build a strong back funds while investing in bitcoin. Real life Emergency strike without warning people, in other not to sell prematurely, putting your backup funds in place will protect your bitcoin investment and helps you hold over the long term.

I know having a backup or emergency fund is very important as an investor, but don't let it sound like a threat, as if investors who don't have a backup won't make it. Just because someone decides to invest in Bitcoin without having a backup fund doesn't mean the person won't progress in investing in Bitcoin.  I think success in investment is more about planning. An investor who invests in Bitcoin without having any plan for how much should go for investment and what should be left for other expenses may think about selling their investment.

Backup funds is a necessity if you want to have a smooth long-term journey investing into bitcoin and do you know what they say when you skip the necessary steps? You end up sabotaging your long-term success and set yourself up for possible self-inflicted challenges down the road. Backup funds is a must if you're serious with your investment journey, it is the best practice to have them unless you're just cut out to gamble with your bitcoin holdings by tampering it to handle emergencies when they show up.
Having backup fund is part of the proper planning of your investment by managing your cash flow well to handle your expenses first, then from the remnant which is your discretionary income invest into bitcoin and build out backup funds simultaneously. You cannot convince me that you are planning well for your bitcoin accumulation by excluding backup funds.

[Joy- maker]

I don’t think your emergency funds or reserve funds is as important as your investment, these are one of the reasons some newbies delay their investment and you it never advisable  to delay investing in bitcoin. In as much as you have your discretionary income it well said that your get into investing and then the emergency and reserve funds can come after that.

Well don’t get me wrong, emergency funds is always advisable to be on the corner but never allow it delay why you invest.

I know that everybody is free to give their own opinion, but when giving our two cents in any discussion we should try and sound realistic. Because there is not point thinking that emergency fund and reserve fund is not as important as your bitcoin investment.

Emergency fund and reserve fund are just as important as your bitcoin investment, because emergency fund cover things like medical bills, job loss and unexpected expenses, without emergency fund you may be force to sell your bitcoin investment at loss or take high interest loan, emergency fund protects you from making bad financial decisions under pressure.

Reserve fund on the other hand helps you stay financially stable without touching your bitcoin investment, and it also help in settling expenses such as rent, repairs and school fees for your children. Conclusion the same way you think your Bitcoin investment is important, that is same way your emergency fund and reserve fund is also important so don't play.