JJG’s Outline of Bitcoin Investment Ideas

[Umulala-alala]

Snip.

There is nothing wrong with putting in big with the DCA as long as your discretionary income can afford it, people with bigger discretionary can invest an amount that can be considered as lump sum by others with the DCA, the amount of range the DCA has is what makes it the best bitcoin investment strategy among the different bitcoin investment strategies been and that's also why people like using it, it can include different investors with different discretionary budgets.

That's what makes DCA the king of strategies in Bitcoin. DCA is a very democratic strategy, there is no minimum amount for investors. Students can apply the DCA strategy of $20 per week, employees $100 per month and company bosses $1000 per month, different amounts are acceptable to apply depending on the financial capacity that is ready to be invested. The most important thing is to stick to the same rules, invest regularly and don't guess market prices, the only difference is the size of the numbers.

What is needed in the DCA strategy is just discipline, even if your knowledge in investing is very limited and the money you are ready to invest is small, you can still invest safely with DCA. As long as you use discretionary income, there's nothing wrong with investing heavily using DCA, as long as it's not borrowed money or money for other basic needs. If you have an income of $5,000 per month and set aside $500 for investment, that is your version of DCA, while those who only earn $1,000 per month and set aside $100 for investment, then that is their version of DCA.

The examples that you give in your last paragraph need to account for expenses first, otherwise we have no idea if you proposed amounts to set aside for buying bitcoin are even close to reasonable.

In other words, there is a need to figure out discretionary income, so that we are able to figure out how much money is actually available and not necessary to cover various basic expenses.

Discipline isn't wrong to have as an investor but without their discretionary income their investment won't have any chance at success.

In order to succeed in Bitcoin investment you must be very discipline in using your money meaning you must have a very good management skill and you must discipline yourself to follow the management rules you have kept for yourself, and yes if you don't have a discretionary income you cannot succeed in Bitcoin investment, without a discretionary income it is impossible for you to invest in Bitcoin for long time, I don't see anyhow you can succeed or you can hold your bitcoin for long time if you are using money meant for your basic need, so it is only your discretionary income you can use for Bitcoin long term investment.

If you are using money meant for you basic needs to invest in BTC you are gambling already that's not an investment you are making because you will surely sell soon when the needs start coming up. Those who has discretionary income has access to invest in bitcoin and hodl for long because they have been able to meet up with their basic needs and invest with the one left with them so it's going to affect them in any way that will now them to sell since those things has been settled, discretionary income is the right money to buy bitcoin.

[Itz-prisigold]

I feel you are focusing too much on the concept of regular income as a requirement for a person to be consistent in he's or her Bitcoin accumulation. Yeah sure having a set salary could make it easier to follow a set schedule of your weekly or monthly tasks, but consistency does not need to be connected to a specific paycheck cycle.

What matters more here is whether there is discretionary income available when the opportunity for allocation arises.  I believe that a person with irregular income can still accumulate Bitcoin for years, provided he or she can manage their cashflow and they are always investing from discretionary income whenever it's available. The buying might not take place on the very same day each week or month,  but your accumulation process can still remain consistent.

So in my opinion, the limiting factor here is not whether income is regular or irregular,  but whether a person has built up a financial structure that enables them to allocate over time in an enduring manner.

For sure, even though many of us have emphasized that a steady income is not required to either get started buying bitcoin and/or to continue to buy bitcoin whenever there are determinations that the amount of discretionary funds are sufficient in order to be able to buy bitcoin, yet at the same time, it seems way easier to plan ahead when guys either have steady incomes or they have expectations of future steady incomes...   It seems quite likely that the more unsteady a guys income and/or his expenses, then the more likely that he has to build and maintain higher and higher levels of back up funds to account for that unsteadiness, and so for sure, he is not prevented from buying bitcoin on a regular basis, yet he is likely going to have easier times if he can try to get into situations in which his income and/or expenses are able to be made steady and even perhaps trying to cause them to be reliable.

As a guy gets used to buying bitcoin, perhaps on a weekly basis, he may well realize that each time he buys any new bitcoin, he is committing to a 4-10 year or longer timeline in holding that bitcoin, and surely that is a long time, and even guys with steady and stable incomes cannot completely have assurances that their incomes will continue to come in, and many times, guys have to rely upon their knowledge, skills and/or connections to have some sense of reassurance that if some or all of their current cashflows dry up, they will be able to replace those cashflows with some other sources, and it can be difficult to be completely confident in regards to those income and/or expenses matters into the future... yet surely the more and more that guys are able to build up their bitcoin holdings and even their back up funds, then they are likely to have more confidence that they have a variety of sources of funds that should be able to cover them if they run into circumstances in which some or many of their cashflow sources dry up and/or are depleted and/or if their expenses might go up in a significant way.

I believe a crucial aspect of this is that there is a connection between income stability and being able to accumulate Bitcoin, but they are not actually the same thing.  However, a person with irregular income doesn't automatically mean he can't accumulate Bitcoin, but because of the unpredictable nature of his cash flows it is always wish to keep a larger backup funds and invest cautiously.

I also liked the part where you said that every time you buy Bitcoin, you should think of it for the long term. If you begin to view every purchase you make as if it would be in your possession for 4-10 years or longer, you will begin to realize the importance of backup funds.  They enable you to manage unforeseen expenses or period of low earnings without having to feel forced to sell your Bitcoin.

So it's not so much about having a prefect income stability.  It's all about creating enough financial flexibility so that you can still continue to accumulate and hold even if your things do not go according to plan.

[Baki202]

Snip.

There is nothing wrong with putting in big with the DCA as long as your discretionary income can afford it, people with bigger discretionary can invest an amount that can be considered as lump sum by others with the DCA, the amount of range the DCA has is what makes it the best bitcoin investment strategy among the different bitcoin investment strategies been and that's also why people like using it, it can include different investors with different discretionary budgets.

That's what makes DCA the king of strategies in Bitcoin. DCA is a very democratic strategy, there is no minimum amount for investors. Students can apply the DCA strategy of $20 per week, employees $100 per month and company bosses $1000 per month, different amounts are acceptable to apply depending on the financial capacity that is ready to be invested. The most important thing is to stick to the same rules, invest regularly and don't guess market prices, the only difference is the size of the numbers.

What is needed in the DCA strategy is just discipline, even if your knowledge in investing is very limited and the money you are ready to invest is small, you can still invest safely with DCA. As long as you use discretionary income, there's nothing wrong with investing heavily using DCA, as long as it's not borrowed money or money for other basic needs. If you have an income of $5,000 per month and set aside $500 for investment, that is your version of DCA, while those who only earn $1,000 per month and set aside $100 for investment, then that is their version of DCA.

The examples that you give in your last paragraph need to account for expenses first, otherwise we have no idea if you proposed amounts to set aside for buying bitcoin are even close to reasonable.

In other words, there is a need to figure out discretionary income, so that we are able to figure out how much money is actually available and not necessary to cover various basic expenses.

Discipline isn't wrong to have as an investor but without their discretionary income their investment won't have any chance at success.

In order to succeed in Bitcoin investment you must be very discipline in using your money meaning you must have a very good management skill and you must discipline yourself to follow the management rules you have kept for yourself, and yes if you don't have a discretionary income you cannot succeed in Bitcoin investment, without a discretionary income it is impossible for you to invest in Bitcoin for long time, I don't see anyhow you can succeed or you can hold your bitcoin for long time if you are using money meant for your basic need, so it is only your discretionary income you can use for Bitcoin long term investment.

Discipline is very important because when you look at those that are selling, it is because they did understand the fact that they need to sell only when they have made profit and when you don't have management skills, every investor needs to have like a guideline because when you don't do something, the result of them will be selling it, most people are not even patient enough and they don't take things like this seriously.

And a lot of people want to invest but they are not ready to take on the challenges that come with it and one of the major challenges will be holding for a long time and there should be differentiation between investment money and money for upkeep. and that is why from your earnings you will be able to use the DCA method for easy passage. people are wondering or rather still trying to figure out the easy way out.

[SmartCharpa]

if you only buy when "free money is available" then it is no longer DCA.Folks with small income can DCA efficienty as long as the income is regular, while those with irregular income can create their own DCA….during periods of high income, they can put aside a fixed percentage of  cash and later invest little by little during low income periods.
Essential expenses and savings should always come first.

Bitcoin investment does not require steady income, you might think that having a steady income will make your investment become more easier, but there are many people with a steady income who are still finding it difficult to invest because of too much expenses, while someone with an irregular income is able to invest.

If someone with a steady income is finding it difficult to invest, they can cut down their expenses because without discretionary income, it will be difficult to invest.

Moreover, if you are not using the money anytime soon, why can’t you invest the money in Bitcoin instead of saving it in the bank? Bitcoin will increase in value, while the money in the bank will only remain the same as you save it.