JJG’s Outline of Bitcoin Investment Ideas

[Franctoshi]

JJG, I got your point that it isn't necessary to have a stable source of income before we start to buy Bitcoin. However, in line with your point, we should also ensure we work towards having a stable income along the line after we must have had our Bitcoin investment kickstarted, which will facilitate our Bitcoin investment plans, because knowing how to do something might look simple, whereas the practical experience is difficult to achieve because life happens.

Taking you for instance, in 2017, I bought my first Bitcoin in line with not necessarily having to consider if I have a stable income. I had this particular contract job I was into, but a certain administration came in, and we were laid off, and some had their salaries slashed. I lost my job in this process, and it took me a year to find a reasonable job, where I had to burn off my savings and my Bitcoin investment, so I'm talking from a point of experience about what it's like if there are no good measures in place when you start without necessarily having a stable source of income.


Some people are living in a country where they have less hope for survival; therefore, you can't compare this person with someone who's living in a country where the system is working, and even the government can even come to their aid at some point when things fall apart.
However, it balls down to one using whatever approach that you think will work best for you.

[Ruttoshi]

Taking you for instance, in 2017, I bought my first Bitcoin in line with not necessarily having to consider if I have a stable income. I had this particular contract job I was into, but a certain administration came in, and we were laid off, and some had their salaries slashed. I lost my job in this process, and it took me a year to find a reasonable job, where I had to burn off my savings and my Bitcoin investment, so I'm talking from a point of experience about what it's like if there are no good measures in place when you start without necessarily having a stable source of income.

This is why it's important to have set up an several backup funds like emergency funds of three months of your monthly expenses or more and the moment you start your bitcoin investment in order to take care of a real life emergency like losing of your job. It's good that you have several backup funds including your reserve funds which you will tap from first when you are hit with real life emergency before finally using from your emergency funds.

When you're investing in bitcoin and you don't have an emergency funds, you will be forced to sell your bitcoin investment when you are hit with real life emergency because you didn't prepare for the worst case scenario that wl pop up during your bitcoin accumulation journey.

Some people are living in a country where they have less hope for survival; therefore, you can't compare this person with someone who's living in a country where the system is working, and even the government can even come to their aid at some point when things fall apart.
However, it balls down to one us whatever approach that you think will work best for you.

If you don't have a discretionary income, you cannot invest in bitcoin which is the main reason why one need a discretionary income and not a stable income without a discretionary income, if not you are gambling and not investing. A stable source of income is the best if you have a discretionary income whenever you get your income because it will keep your bitcoin accumulation ongoing.

However, someone with a stable income can also be hit with uncertainty that will lead to losing of his job, he will need to continue holding his bitcoin and use his emergency funds to take care of his basic needs and monthly expenses till while he looks for a new job.

This is the main reason why you should always look for a way to once your income even if you have a stable job so that you can have a good discretionary income and increase your DCA amount.

[JayJuanGee]

In fact I believe an emergency fund is crucial to prepare before starting to invest, We must first stabilize our finances and have sufficient income before finally choosing to invest, of course using discretionary funds.

The purpose of preparing an emergency fund beforehand is to ensure that our investments are not disrupted in the future, It's important to remember that investments are made for the future, so we must consistently implement the plan as much as possible without any reason to derail it, This way if something happens in life that requires funds, we can use the emergency fund without disrupting our investments,This is why I emphasize the importance of an emergency fund.

It's not important and compulsory to set up an emergency funds before starting your bitcoin investment if you don't have any on ground. The reason is because it can take more than 52 weeks to set up an emergency funds of at least three months of your monthly expenses and that will keep you waiting and missing the opportunity in the market of buying bitcoin at various price to build and grow your portfolio overtime.

It's good that you start buying bitcoin right away if your discretionary income is available so that, you don't remain a no coiner for a long time because having bitcoin is more important than having an emergency funds. Your emergency funds is fiat and it depreciates overtime which makes it not your first priority but your bitcoin investment since the value of bitcoin increases overtime.

It is problematic if guys are investing with all of their available money into bitcoin, which is part of the reason that back up funds (emergency funds) are necessary, especially when guys can make mistakes and then they might spend several months building up their bitcoin investment and have to sell some or all of it because they miscalculated their discretionary income.
 
Of course, it is important to get started with bitcoin as soon as possible, yet if a guy has no back up money then he is being sloppy, wreckless and seeming to gamble with his finances rather than investing.

A balance is needed, and emergency funds (of three months) do not need to be built prior to getting started investing in bitcoin, but zero back up funds (emergency funds) seems like the wrong answer and you are just begging to lose all your bitcoin.

Most people, whether in bitcoin or not, do not live with absolutely no back up funds, and if you come into bitcoin and you put everything in, then what happens if some expense  comes up or some income dries up?  You are fucked.. whatever you had put into bitcoin is sold at a time that you did not prepare for.

For sure I understand that the first year building up both your bitcoin and your back up funds could be quite a struggle, especially for guys who might come to bitcoin with already bad finances.

There might be some guys coming to bitcoin and they have outstanding loans and a lot of ways that their finances are fucked up, so they can still get started in bitcoin, but the amount that they can and/or should put into bitcoin might be close to zero until the resolve some of the mess in their personal finances.  Newbies should not be enerting into loans and/or leveraging their finances just to put money into bitcoin merely because they need to get started.  They might get started investing $10 per month until they get their shit together and then maybe they can move to $10 per week and then $50 per week and $100 per week, etc etc. ..

Guys can really fuck themselves over if they have absolutely no back up funds when they get started.

Frequently I like to suggest to build the bitcoin and the back up funds at the same time, yet each person need to figure out where he is at.. There are some guys who might come into bitcoin and they already have something close to 6 weeks of expenses worth of cash that is serving as back up funds, so that kind of person could work on getting some money into bitcoin until maybe he can invest into bitcoin exclusively without necessarily building his back up funds more until his amount invested in bitcoin is around the same as his emergency funds, and then maybe at that point he would build them the same or build one or the other with slightly more emphasis, of coruse depending on his circumstances.

If a guy has absolutely nothing and he is in debt and his income is unclear, then he might not even be in a position to put any money in bitcoin since it might not be clear regarding the extent that he has discretionary income.  Guys should not be so anxious or desperate to get into bitcoin that they end up using money that is outside of their discretionary funds and they are mistakenly using money that they actually need or that they are otherwise putting unnecessary stress on their finances.

If guys make mistakes to overdo it, then he could end up putting himself in a worse situation because he is gambling rather than investing.. and surely it is better to build slow than to rush into it, especially in circumstances that guys have low discretionary income or otherwise bad financial circumstances and a history of weak cashflow management practices.  One of the most important thing is to invest within your means so that you are investing and not trading or gambling, which truly is not recommended since it could take 4-10 years or longer to really build up a good bitcoin foundation and if a person is coming from even worse circumstances, it could take him 15-20 years or longer to really build himself to a comfortable place...

 So part of the progress and the ability to increase aggressiveness in regards to investing into bitcoin relates to having strong cashflow management practices and having had built up good ad strong back up fund systems, especially since if any of us starts to become more and more aggressive in our bitcoin investing, then aggressiveness means that we are pushing limits more in terms of investing large portions of our discretionary funds, and if we are investing large portions of our discretionary funds, we need the strong back ups because there are greater odds that we might make some mistakes and our back up funds will help to rescue us from our own mistakes (not that we are making mistakes on purpose), so we should be learning from our mistakes and tweaking so that we are lessening the likelihood of mistakes and/or the negative impact of any mistakes that we make.

Many of the mistakes that I made over the years were ones that I was not greatly impacted, even though there surely have been some mistakes that were BIGGER than others.

The main purpose of setting up an emergency funds is to backup your bitcoin investment, if you do not have a bitcoin investment it's useless because you are not protecting anything.

That is true, and that is why we likely would build our bitcoin investment and our emergency funds at the same time, yet we should not be building a bitcoin investment without back up funds(emergency funds), otherwise our bitcoin is serving as our back up funds, and that is problematic in terms of practices and likely being sloppy.

Nobody is saying that you shouldn't set up an emergency funds to take care of unforeseen circumstances that we didn't plan for, you can simply do that by sharing your discretionary income into two parts and use on to build your bitcoin investment by using DCA method which allows you to buy every week and use the other part of your discretionary income to build your emergency funds simultaneously with your bitcoin investment till it's up to at least three months of your monthly expenses.

This part is correct.

JJG, I got your point that it isn't necessary to have a stable source of income before we start to buy Bitcoin. However, in line with your point, we should also ensure we work towards having a stable income along the line after we must have had our Bitcoin investment kickstarted, which will facilitate our Bitcoin investment plans, because knowing how to do something might look simple, whereas the practical experience is difficult to achieve because life happens.

Taking you for instance, in 2017, I bought my first Bitcoin in line with not necessarily having to consider if I have a stable income. I had this particular contract job I was into, but a certain administration came in, and we were laid off, and some had their salaries slashed. I lost my job in this process, and it took me a year to find a reasonable job, where I had to burn off my savings and my Bitcoin investment, so I'm talking from a point of experience about what it's like if there are no good measures in place when you start without necessarily having a stable source of income.

Sure.  It can be good to understand these kinds of matters from personal experiences and/or even to hear about what happened to other people in terms of their income, their expenses and/or how they might have had dealt with their investments and/or savings when their income went down and/or their expenses went up or at least the expenses kept happening, even without an income. 

So yeah, we can look at our own experiences or the experiences of others in order to attempt to prepare ourselves, and maybe attempt to learn what to do or what not to do.

And yeah, maybe we start out investing and considering that we have a pretty solid income situation, yet we still might have to build up our back up funds with expectations about our future income.  If we feel that our job is pretty solid, then we might not make other preparations for other kinds of work, yet surely some kinds of jobs we might recognize that they might have a lot of uncertainties in regards to being able to rely on them to produce future income.. but, yeah, we might not always know about the solidness of our job security.

We could surely end up making mistakes in regards to how much we counted on a job that might not have had been very secure.

How much we are able to put into bitcoin could be hampered by our vision of our future.

Now there could also be questions in regards to how much or for what period of time we need to hold back up funds, and/or do we have back up employment that could partially or even fully fund our expenses in the event that we lose our primary job.

Surely it is not good to be in our prime years and unable to earn an income, and surely many of us have likely gone through those kinds of circumstances, so there can be challenges, and even depleting our savings and/or our investments can show us that we had gotten into a bad place, and maybe at a certain point of time, we have to figure out ways to try harder to increase our income and/or to cut our expenses.. .since if we are depleting various aspects of our savings and/or our investments, then at some point we might recognize that the circumstances are quite desperate and bad.

I frequently suggest that we might keep different categories of funds and in advance we know about the priorities of our various funds, so if we are depleting certain levels of funds, we know the situation is more desperate in terms of our needs to either search harder for work or even to take what we consider to be mediocre work and/or we could also figure out ways to cut some of our expenses and we might get down to a point that ONLY the absolute most essential ways in which we would spend money and we may well even use a lot of resources that we already have rather than spending more money.. so there are likely levels of desperation that increase the longer that we are out of work.

Some people are living in a country where they have less hope for survival; therefore, you can't compare this person with someone who's living in a country where the system is working, and even the government can even come to their aid at some point when things fall apart.
However, it balls down to one using whatever approach that you think will work best for you.

Of course, you have to account for whatever resources that you have that are based on your own circumstances and your own country.  No one is saying that you have to use the resources of someone else, since some places might have inferior pay and/or higher costs in various ways.  Some people have family members and social circles, and so yeah, each person has to figure out his details to determine how much he might be able to invest in bitcoin, how to manage his cashflows, how much back up funds to keep, and even if you are poor and you have bad circumstances, there still may well be ways that you can improve your situation both in terms of your work, your expenses, your time studying and learning  about how to manage your funds better, so yeah, some folks surely have greater obstacles than others, and some folks are in a situation that they could easily invest in bitcoin and they still don't do it because they take their job and/or their money for granted. 

A lot of the ideas that I discuss in this thread and even on the forum are general principles, yet you still have to apply to your own circumstances and you might have to adjust some of the numbers to your own situation.

I understand also that some guys are in such bad circumstances that they are not able to increase their discretionary income and they treat bitcoin as a way to trade/gamble rather than invest, and I am not talking about those practices since they are not my interest, and I think that bitcoin is better as an investment rather than trading and/or gambling with it, even if some people had some luck in their trading bitcoin. If you have timelines that are less than 4 years, then I don't recommend getting involved in bitcoin since from my point of view that is trading rather than investing, even if you might have had gotten yourself into a situation where you had to sell your bitcoin on a timeline that was less than 4 years due to your loss of your job.

[As-Soon-As]

A source of income is undoubtedly the most important thing. If you don't have any, what will you invest with? Haha, just kidding, an emergency fund can come after we start accumulating Bitcoin, but don't forget it. The point is, an emergency fund is a crucial aspect to prepare because it's the only thing that can help us maintain our investment assets in the long term.

Good Question buddy. If you don't have a source of income or a stable job, what is needed to invest with is a Discretional fund, after then you can start searching for a stable job to enable you produce streams of discretional incomes to buy Bitcoin consistent.
It isn't mandatory to create an Emergency fund before investing in Bitcoin,it can come after. What's more important is to start, know how to figure out your discretional incomes regularly to buy Bitcoin consistently, every other thing can come later.

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure. Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment. And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

[Charcol]

Taking you for instance, in 2017, I bought my first Bitcoin in line with not necessarily having to consider if I have a stable income. I had this particular contract job I was into, but a certain administration came in, and we were laid off, and some had their salaries slashed. I lost my job in this process, and it took me a year to find a reasonable job, where I had to burn off my savings and my Bitcoin investment, so I'm talking from a point of experience about what it's like if there are no good measures in place when you start without necessarily having a stable source of income.

This is why it's important to have set up an several backup funds like emergency funds of three months of your monthly expenses or more and the moment you start your bitcoin investment in order to take care of a real life emergency like losing of your job. It's good that you have several backup funds including your reserve funds which you will tap from first when you are hit with real life emergency before finally using from your emergency funds.

I'm actually wondering,

Does always keeping a lot of cash on hand mean feeling safe?

Of course, a reserve fund, an emergency fund, is necessary. But keeping a lot of cash in multiple funds makes me a little worried. I'm not saying against you, because you've made a very reasonable point! In fact, I want to be clear about the whole issue. Because the current economic situation is very bad, if you keep cash in hand for a long time, it gradually loses its purchasing power due to inflation. So, although it seems safe to keep a lot of cash on hand, it invisibly erodes our money. So, compared to keeping a lot of cash on hand, I think investing in Bitcoin will be better for me. This will improve the portfolio. Again, if there is no emergency fund, reserve fund, the investment will be at risk. If you consider both sides, the best way is to maintain balance. So that you can protect yourself from risk in the short term. And also take advantage of the growth of Bitcoin in the long term.

[Ruttoshi]

Taking you for instance, in 2017, I bought my first Bitcoin in line with not necessarily having to consider if I have a stable income. I had this particular contract job I was into, but a certain administration came in, and we were laid off, and some had their salaries slashed. I lost my job in this process, and it took me a year to find a reasonable job, where I had to burn off my savings and my Bitcoin investment, so I'm talking from a point of experience about what it's like if there are no good measures in place when you start without necessarily having a stable source of income.

This is why it's important to have set up an several backup funds like emergency funds of three months of your monthly expenses or more and the moment you start your bitcoin investment in order to take care of a real life emergency like losing of your job. It's good that you have several backup funds including your reserve funds which you will tap from first when you are hit with real life emergency before finally using from your emergency funds.

I'm actually wondering,

Does always keeping a lot of cash on hand mean feeling safe?

Of course, a reserve fund, an emergency fund, is necessary. But keeping a lot of cash in multiple funds makes me a little worried. I'm not saying against you, because you've made a very reasonable point! In fact, I want to be clear about the whole issue. Because the current economic situation is very bad, if you keep cash in hand for a long time, it gradually loses its purchasing power due to inflation. So, although it seems safe to keep a lot of cash on hand, it invisibly erodes our money. So, compared to keeping a lot of cash on hand, I think investing in Bitcoin will be better for me. This will improve the portfolio.

When investing in bitcoin, it's necessary that you balance the amount of cash on you to your bitcoin investment. So that you don't keep too much cash on you or little cash on you because if you have too much cash on you, it will not yield any profit instead the value depreciate overtime and that will affect the growth of your bitcoin investment because you are suppose to put more cash into bitcoin and make your money work for you.

It's the same thing with when you don't have enough cash on you to take care of an unforeseen circumstances, because you have put too much of cash into bitcoin instead of keeping your emergency funds on the right level. You will ne forced to sell part of your bitcoin if the challenge is bigger than the cash on you.

This is why having various backup funds matters a lot. There's a level that you will build up your emergency funds to that you stop, and that's at least three months of your monthly expenses. The reason why reserve funds is important is because it serves for many purposes due to its flexibility. When you have a reserve funds, you can use it to buy bitcoin when the price is at the dip to mix up with your ongoing DCA. You can also use your reserve funds first when there's a real life emergency. If it's enough to solve that problem fine. If it's not, you have to start taking from your emergency funds.

Because you are investing in bitcoin does not mean that you wouldn't enjoy yourself a little. You can use your reserve funds to take your partner out for dinner in an expensive restaurant. Your car might need servicing or broke down, you are to use your reserve funds. Lastly, is your float which is the extra cash you keep for an unexpected expenses that you didn't plan for during the time frame to your next payment/salary.

You are investing in a long term and there's enough time to build these various backup funds alongside withqq your bitcoin investment. After building them, you are only to focus on building your investment overtime. The moment that you have used part of your emergency funds or reserve funds, you are to refill it back. You can invest aggressively, when you are in the position to do so for the improvement of your bitcoin portfolio.

[Cossyblack]

A source of income is undoubtedly the most important thing. If you don't have any, what will you invest with? Haha, just kidding, an emergency fund can come after we start accumulating Bitcoin, but don't forget it. The point is, an emergency fund is a crucial aspect to prepare because it's the only thing that can help us maintain our investment assets in the long term.

Good Question buddy. If you don't have a source of income or a stable job, what is needed to invest with is a Discretional fund, after then you can start searching for a stable job to enable you produce streams of discretional incomes to buy Bitcoin consistent.
It isn't mandatory to create an Emergency fund before investing in Bitcoin,it can come after. What's more important is to start, know how to figure out your discretional incomes regularly to buy Bitcoin consistently, every other thing can come later.

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure. Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment. And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

I actually do not agree with you on this. Investing aggressively in Bitcoin isn't bad as Long you're investing within you're discretional income. I think aggressive buying within your discretional income do not put your Bitcoin investment at risks or exposes it to danger. However, investing outside of your discretional income is the very risky parts because you're actually gambling with your Bitcoin investment.
In addition,your Emergency funds is best it is left as cash because when you invest it in Bitcoin,later the Bitcoin market starts experiencing a downturn and there's an Emergency, you will be Force
to sell your Bitcoin investment at loss.

[JayJuanGee]

A source of income is undoubtedly the most important thing. If you don't have any, what will you invest with? Haha, just kidding, an emergency fund can come after we start accumulating Bitcoin, but don't forget it. The point is, an emergency fund is a crucial aspect to prepare because it's the only thing that can help us maintain our investment assets in the long term.

Good Question buddy. If you don't have a source of income or a stable job, what is needed to invest with is a Discretional fund, after then you can start searching for a stable job to enable you produce streams of discretional incomes to buy Bitcoin consistent.
It isn't mandatory to create an Emergency fund before investing in Bitcoin,it can come after. What's more important is to start, know how to figure out your discretional incomes regularly to buy Bitcoin consistently, every other thing can come later.

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure.

You seem to be wrongly defining aggressive As-Soon-As.

The level of aggressiveness in investing into bitcoin is a choice.. we can choose to be aggressive or whimpy.. . and these ideas of how aggressive or how whimpy is on a spectrum, and there are no wrong answers, since individual have choices regarding how aggressive or how whimpy they are going to be.

Of course, if they become too aggressive in terms of failing to protect themselves, by not having back up funds and/or investing beyond their discretionary income (meaning using money that they need for their expenses), then they have gone overboard and they had become overaggressive.

There is a difference between aggressive and overaggressive, and you, As-Soon-As, seem to be defining aggressive as if it were overaggressive... and yeah, we might not exactly know the boundary between aggressive and overaggressive, so sometimes we need to be purposefully more conservative in order to make sure that we do not go overboard and we maintain sufficient and adequate back up funds.

Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment.

Of course some level of back up funds are needed especially the more aggressive that a person invests, then the more likely he might make mistakes, so the back up funds would help him to smoothen out mistakes so that he is less likely to be damaged by any mistakes that he might make.  Also, of course, the future is not known so sometimes some extra expenses can come up and/or loss of income, so back up funds are important to cover those kinds of situations too.

And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

For sure expenses can be cut, and for sure some extra cash cushion can come in handy from time to time too, yet we also have to be careful in regards to if we might be keeping too much in cash so each of us has to figure out what we consider a good balance in regards to how much we are investing in bitcoin, how much we are consuming and also how much we are keeping in savings and/or as back up funds and/or in other investments.

[Gost ms]

A source of income is undoubtedly the most important thing. If you don't have any, what will you invest with? Haha, just kidding, an emergency fund can come after we start accumulating Bitcoin, but don't forget it. The point is, an emergency fund is a crucial aspect to prepare because it's the only thing that can help us maintain our investment assets in the long term.

Good Question buddy. If you don't have a source of income or a stable job, what is needed to invest with is a Discretional fund, after then you can start searching for a stable job to enable you produce streams of discretional incomes to buy Bitcoin consistent.
It isn't mandatory to create an Emergency fund before investing in Bitcoin,it can come after. What's more important is to start, know how to figure out your discretional incomes regularly to buy Bitcoin consistently, every other thing can come later.

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure. Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment. And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

Buying Bitcoin aggressively is never a bad idea. When a person buys aggressively without considering his financial situation, it is bad. But when a person buys aggressively based on his financial situation, it is not bad.

A person can invest wisely based on his financial situation. For example, if a person has a discretionary income of $50, if he does not have an emergency fund, he can invest $25 from here and keep $15 for emergency fund and keep the remaining $10 as extra expenses. If he does not have extra expenses, then when he invests next month, he can invest the extra $10 with his investment. He can invest the same way the next month. Thus, $35 is being invested wisely.

A person should divide his funds into three parts. Such as emergency fund, reserve fund, cash. If a person builds the funds in this way, it will be very good for him. Because when any kind of small financial crisis arises then he can take money from cash to deal with the crisis. If he is unable to deal with the financial crisis with cash then he can use the reserve fund and if that is not possible then he can use the emergency fund. If a person builds his funds in this way then it will be very good for him.

[Jewan420]

Buying Bitcoin aggressively is never a bad idea. When a person buys aggressively without considering his financial situation, it is bad. But when a person buys aggressively based on his financial situation, it is not bad.

A person can invest wisely based on his financial situation. For example, if a person has a discretionary income of $50, if he does not have an emergency fund, he can invest $25 from here and keep $15 for emergency fund and keep the remaining $10 as extra expenses. If he does not have extra expenses, then when he invests next month, he can invest the extra $10 with his investment. He can invest the same way the next month. Thus, $35 is being invested wisely.

A person should divide his funds into three parts. Such as emergency fund, reserve fund, cash. If a person builds the funds in this way, it will be very good for him. Because when any kind of small financial crisis arises then he can take money from cash to deal with the crisis. If he is unable to deal with the financial crisis with cash then he can use the reserve fund and if that is not possible then he can use the emergency fund. If a person builds his funds in this way then it will be very good for him.

In the case of investment, we should use a simple formula, within the capabilities you can adopt any strategy in investment and that is not wrong. For example - being aggressive in investment, taking advantage of the market in the dip and diversifying investments etc. These things are not bad for an investor as long as he gives priority to his own capabilities, when he ignores his capabilities and tries to be aggressive in investment or diversify investments, then it can be wrong and cause loss for him.

Ability is not only in terms of financial aspects, but also depends on financial aspects, knowledge acquisition and overall situation. That is, you have to be capable in all aspects and then take any step in investment. It is wise to consider the preferred tasks based on capabilities, because they are not mandatory

[JayJuanGee]

Buying Bitcoin aggressively is never a bad idea. When a person buys aggressively without considering his financial situation, it is bad. But when a person buys aggressively based on his financial situation, it is not bad.

A person can invest wisely based on his financial situation. For example, if a person has a discretionary income of $50, if he does not have an emergency fund, he can invest $25 from here and keep $15 for emergency fund and keep the remaining $10 as extra expenses. If he does not have extra expenses, then when he invests next month, he can invest the extra $10 with his investment. He can invest the same way the next month. Thus, $35 is being invested wisely.

A person should divide his funds into three parts. Such as emergency fund, reserve fund, cash. If a person builds the funds in this way, it will be very good for him. Because when any kind of small financial crisis arises then he can take money from cash to deal with the crisis. If he is unable to deal with the financial crisis with cash then he can use the reserve fund and if that is not possible then he can use the emergency fund. If a person builds his funds in this way then it will be very good for him.

In the case of investment, we should use a simple formula, within the capabilities you can adopt any strategy in investment and that is not wrong. For example - being aggressive in investment, taking advantage of the market in the dip and diversifying investments etc. These things are not bad for an investor as long as he gives priority to his own capabilities, when he ignores his capabilities and tries to be aggressive in investment or diversify investments, then it can be wrong and cause loss for him.

Ability is not only in terms of financial aspects, but also depends on financial aspects, knowledge acquisition and overall situation. That is, you have to be capable in all aspects and then take any step in investment. It is wise to consider the preferred tasks based on capabilities, because they are not mandatory

The devil is in the details Jewan420 because merely proclaiming that a guy can do whatever he wants within his abilities and his discretion is not helping to give any guidelines, even if each person is ultimately in charge of figuring out the details in regards to how he might apply various BTC accumulation strategies (and/or cashflow management strategies) to his circumstances.

Perhaps giving an example might be helpful to show the various decisions that any guy (investing into bitcoin) might make and how his decisions might change under differing circumstances, which might mean that there are better and worse ways to go forward with bitcoin investing and/or cashflow management even though ultimately each individual decides if he is going to invest into bitcoin and then if he does invest in bitcoin, he decides if he is going to be aggressive or whimpy in the strategies that he employs and then if he his going to be organized or not in his accumulation of bitcoin and how he might prioritize his cashflow management in order to not screw up his bitcoin investment, like how much he might research into various matters and keep track of his bitcoin investment and project forward his cashflows, such as his income, his expenses, his back up amounts and/or his bitcoin investment amounts (in contrast to any other investments that he might have).

I doubt that it is very helpful to just proclaim that guys do whatever they want - since surely they could end up screwing up their investment into bitcoin and their cashflow management, even in light of the priorities that they had created for themselves.  

For example, a hypothetical guy^** might set up a general (and somewhat blind) DCA amount, such as $50 per week that goes into bitcoin, and maybe such a person doesn't really look into the matter of bitcoin and/or his finances since he has some ballpark ideas about his income/expenses to assess that he has a discretionary income that is around $200 per week (and a monthly income that varies between $1,600 and $3k - depending on the month - with a most common income of about $2k and expenses that are around $1,100), so such a guy feels that he is not really overly extending himself in regards to dedicating $50 per week to put into bitcoin, so maybe I would characterize such a guy as fairly low on the aggressive level, yet if he were to want to be more aggressive in his bitcoin investment, he might need to organize himself better and to monitor his finances better.  

The more aggressive that he chooses to be, the more organized he needs to be, so guys are able to make choices regarding their level of aggressiveness and how organized that they are going to be that facilitates their abilities to be aggressive with their bitcoin investment without running the risk of screwing themselves up.  If we just proclaim that guys can do whatever they like, we are not really resolving anything or providing any guidance in regards to the factors that any guy might need to consider in regards to his bitcoin investment, his cashflow management and how aggressive he might choose to be and what he might need to do in order to prepare himself to be more aggressive without putting himself and/or his finances in unnecessary risk situations (perhaps putting himself into tolerable risk within his tastes and level of preparations?).

**Edited:  Added above hypothetical guy example to the post

[Bigjoe33]

In fact I believe an emergency fund is crucial to prepare before starting to invest, We must first stabilize our finances and have sufficient income before finally choosing to invest, of course using discretionary funds.
,This is why I emphasize the importance of an emergency fund.

Emergency is important, no doubt, but to say that we must first prepare our emergency funds, and also stabilize our finances and have sufficient income before we start our Bitcoin investment is not good investment mentality and a waste of time strategy is you ask me. At what point can we say we have sufficient income? I doubt if any human is ever satisfied with his level of wealth. We always want more, Ans that's why we keep working. So reaching a satisfactory wealth possession point and/or sufficient income maybe somehow difficult to know, and thus delaying the investment.

As long as the potential investor can figure out his discretionary income, then he can begin his investment with the DCA strategy accumulation, and then gradually build up his emergency funds alongside his investment. At this point, he has started his investment journey and that's what matters. In as much as emergency funds is just too important in our investment, we must know that the DCA strategy gives the investor the flexibility of acquiring bitcoin in little fragments weekly or monthly, thereby giving him the chance to build up his emergency funds too alongside his investment from his discretionary.
We must not wait till we have all the money in the world before we can start investing. We just have to figure it out, I mean how we can start small with the DCA

[Cossyblack]

In fact I believe an emergency fund is crucial to prepare before starting to invest, We must first stabilize our finances and have sufficient income before finally choosing to invest, of course using discretionary funds.
,This is why I emphasize the importance of an emergency fund.

As long as the potential investor can figure out his discretionary income, then he can begin his investment with the DCA strategy accumulation, and then gradually build up his emergency funds alongside his investment. At this point, he has started his investment journey and that's what matters. In as much as emergency funds is just too important in our investment, we must know that the DCA strategy gives the investor the flexibility of acquiring bitcoin in little fragments weekly or monthly, thereby giving him the chance to build up his emergency funds too alongside his investment from his discretionary.
We must not wait till we have all the money in the world before we can start investing. We just have to figure it out, I mean how we can start small with the DCA

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

[Fara Chan]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

[Creeper0]

In fact I believe an emergency fund is crucial to prepare before starting to invest, We must first stabilize our finances and have sufficient income before finally choosing to invest, of course using discretionary funds.
,This is why I emphasize the importance of an emergency fund.

As long as the potential investor can figure out his discretionary income, then he can begin his investment with the DCA strategy accumulation, and then gradually build up his emergency funds alongside his investment. At this point, he has started his investment journey and that's what matters. In as much as emergency funds is just too important in our investment, we must know that the DCA strategy gives the investor the flexibility of acquiring bitcoin in little fragments weekly or monthly, thereby giving him the chance to build up his emergency funds too alongside his investment from his discretionary.
We must not wait till we have all the money in the world before we can start investing. We just have to figure it out, I mean how we can start small with the DCA

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

There is no end to knowledge, especially in the case of Bitcoin, the more a person searches, the more the scope of knowledge will continue to increase. But to start investing in Bitcoin, there is no need to expand the scope of knowledge too much. Extend the scope of knowledge to the extent that with the knowledge, you can purchase Bitcoins on your own and store them safely in a good decentralized wallet.
That is, I am definitely talking about basic knowledge, where the knowledge of how to buy Bitcoins on an exchange and how to open and store a decentralized wallet is basically basic knowledge.

This scope of knowledge may be enough to start investing. Since your investment fund will not be very valuable in the beginning, you should not delay investing by worrying about security or risk management before investing. If you have a source of discreet income or money, start your journey in investing as soon as possible.

[MrNata]

A source of income is undoubtedly the most important thing. If you don't have any, what will you invest with? Haha, just kidding, an emergency fund can come after we start accumulating Bitcoin, but don't forget it. The point is, an emergency fund is a crucial aspect to prepare because it's the only thing that can help us maintain our investment assets in the long term.

Good Question buddy. If you don't have a source of income or a stable job, what is needed to invest with is a Discretional fund, after then you can start searching for a stable job to enable you produce streams of discretional incomes to buy Bitcoin consistent.
It isn't mandatory to create an Emergency fund before investing in Bitcoin,it can come after. What's more important is to start, know how to figure out your discretional incomes regularly to buy Bitcoin consistently, every other thing can come later.

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure. Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment. And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

Buying Bitcoin aggressively is never a bad idea. When a person buys aggressively without considering his financial situation, it is bad. But when a person buys aggressively based on his financial situation, it is not bad.

A person can invest wisely based on his financial situation. For example, if a person has a discretionary income of $50, if he does not have an emergency fund, he can invest $25 from here and keep $15 for emergency fund and keep the remaining $10 as extra expenses. If he does not have extra expenses, then when he invests next month, he can invest the extra $10 with his investment. He can invest the same way the next month. Thus, $35 is being invested wisely.

A person should divide his funds into three parts. Such as emergency fund, reserve fund, cash. If a person builds the funds in this way, it will be very good for him. Because when any kind of small financial crisis arises then he can take money from cash to deal with the crisis. If he is unable to deal with the financial crisis with cash then he can use the reserve fund and if that is not possible then he can use the emergency fund. If a person builds his funds in this way then it will be very good for him.

Yes, you are right, aggressive investing should not be done without a fixed income or emergency fund. If an investor still invests aggressively, then his investment will not be long-term. However, if I add one more point to your comment, I think it may be acceptable to everyone. Suppose I have a permanent job where I get a good salary at the end of the month and I have enough money left at the end of each month, since I can see that I have a good amount of money left every month, then if I invest aggressively, it will not be bad because I have financial support. The main thing is that our income will depend on our investment. Another important factor in investment is time, if the investor invests for five to six years and during this time if his money is in reserve, then investing consistently will not be a major problem for the investor. Aggressive investment can go against us when we cannot plan properly or we do not have a good amount of financial support.

[Merit.s]

Yes, you are right, aggressive investing should not be done without a fixed income or emergency fund. If an investor still invests aggressively, then his investment will not be long-term. However, if I add one more point to your comment, I think it may be acceptable to everyone. Suppose I have a permanent job where I get a good salary at the end of the month and I have enough money left at the end of each month, since I can see that I have a good amount of money left every month, then if I invest aggressively, it will not be bad because I have financial support. The main thing is that our income will depend on our investment. Another important factor in investment is time, if the investor invests for five to six years and during this time if his money is in reserve, then investing consistently will not be a major problem for the investor. Aggressive investment can go against us when we cannot plan properly or we do not have a good amount of financial support.

You only need your discretionary income to invest in bitcoin. It's from your discretionary income that you can determine if you will invest aggressively or in a whimpish way. Having a fixed income is not what you need to invest aggressively. As long as you invest within your discretionary income and did not sell your bitcoin, you can hodli for long. It's when you overdo it that it becomes a problem because you have invested beyond your discretionary income which means that you are gambling. If you need arises, you will sell your bitcoin at loss, if the price is below your entry point.

You don't need a big discretionary income before you can invest aggressively. When you use 70% of your discretionary income and above to buy bitcoin weekly, you are investing aggressively. It's good to invest aggressively or front load when you can because it helps to fasten your bitcoin accumulation pace in order to reach your bitcoin target fast.

Of course, it's the size of your emergency funds that will determine your level of aggressiveness.

[JayJuanGee]

In fact I believe an emergency fund is crucial to prepare before starting to invest, We must first stabilize our finances and have sufficient income before finally choosing to invest, of course using discretionary funds.
,This is why I emphasize the importance of an emergency fund.

As long as the potential investor can figure out his discretionary income, then he can begin his investment with the DCA strategy accumulation, and then gradually build up his emergency funds alongside his investment. At this point, he has started his investment journey and that's what matters. In as much as emergency funds is just too important in our investment, we must know that the DCA strategy gives the investor the flexibility of acquiring bitcoin in little fragments weekly or monthly, thereby giving him the chance to build up his emergency funds too alongside his investment from his discretionary.
We must not wait till we have all the money in the world before we can start investing. We just have to figure it out, I mean how we can start small with the DCA

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Just to repeat the idea.  In order to get started, all a guy needs is some level of discretionary funds and some common sense and ability to learn - perhaps basic math skills to be able to make sure that he has accurately calculated that he actually has discretionary funds, and so then he can learn as he goes and exercise some prudence along the way, which is a part of what someone with common sense does.

In regards to the stable income, it is not absolutely needed, but if a person is striving to make sure that he does not have to tap into his bitcoin holdings for 4-10 years or longer, then it would likely to be helpful to keep income coming in so that he always has a cash cushion between his bitcoin investment and his ongoing expenses, and everyone has ongoing expenses in order to keep living, such as the needs for food, shelter and to support basic aspects of modern living.. There is ONLY so much of the modern expenses that can be cut - yet surely there could be people who live in circumstance in which their expenses are low and/or they are provided for based on their family and/or relationship status, and even people in those "supported" kinds of relationships need to account for the income coming from their being supported, even if it ends up being a wash in terms of their ultimately getting all of their expenses supported whether they have any obligations in regards to receiving such support or if they might just merely need to be alive and receive such support.. these still would be factors to account for, even if a person in such supported situation may well become lazy in their needs to calculate such ongoing costs of their living as compared with someone who has to ongoingly figure out his income versus his expenses.

Ultimately there is a need to account for ongoing expenses that likely exist with everyone, and a stable income would help to bring assurance to having those expenses covered, and surely there are some folks who have a lot of skills and/or employability, so if they are able to comfortably calculate that they are able to obtain income as needed in the future, then in those circumstances they might not need a stable income to continue to invest in bitcoin, since their skills and or place in life gives them some confidence in being able to keep their income coming in..

And, by the way, those people who are in circumstances in which they don't have to worry about their income or expenses because they easily get income and/or have their expenses covered, then those kinds of people are likely less inclined towards needing to have bitcoin, which might also be part of the reason why some folks might not be inspired to get or need bitcoin based on their already comfortable life-circumstances... which also reminds me of an article from a few years back - Why the Yuppie Elite Dismiss Bitcoin.

[Popkon6]

Yes, you are right, aggressive investing should not be done without a fixed income or emergency fund. If an investor still invests aggressively, then his investment will not be long-term. However, if I add one more point to your comment, I think it may be acceptable to everyone. Suppose I have a permanent job where I get a good salary at the end of the month and I have enough money left at the end of each month, since I can see that I have a good amount of money left every month, then if I invest aggressively, it will not be bad because I have financial support.

Why not long-term Bitcoin investment, of course it will be. If that person has a good discretionary income, then he will definitely be able to proceed with his Bitcoin investment as planned and will be able to invest in Bitcoin in a more long-term way in the future. Because if your income source is good, then of course you can increase the amount of investment in Bitcoin weekly, Bitcoin investment will only depend on your income.
If you use the DCA method as support, it is definitely possible to invest in Bitcoin and move the investment forward in the long-term into the future.

[Dreadboost]

I'm actually wondering,

Does always keeping a lot of cash on hand mean feeling safe?

Of course, a reserve fund, an emergency fund, is necessary. But keeping a lot of cash in multiple funds makes me a little worried. I'm not saying against you, because you've made a very reasonable point! In fact, I want to be clear about the whole issue. Because the current economic situation is very bad, if you keep cash in hand for a long time, it gradually loses its purchasing power due to inflation. So, although it seems safe to keep a lot of cash on hand, it invisibly erodes our money. So, compared to keeping a lot of cash on hand, I think investing in Bitcoin will be better for me. This will improve the portfolio. Again, if there is no emergency fund, reserve fund, the investment will be at risk. If you consider both sides, the best way is to maintain balance. So that you can protect yourself from risk in the short term. And also take advantage of the growth of Bitcoin in the long term.

Why keeping alot of cash with you when you can invest it in bitcoin. Bitcoin increases in value and if you invest in it so will your money too. Altough you should also keep money aside incase of emergency, so you do not have to sale your bitcoin because of that situation, it is very advisable to split your discretionary income in two one part for investment the other part for saving money in fiat for emergency.

If it is done like this any emergency that comes up you know you have money kept aside for it, that is why they call it EMERGENCY FUNDS, in a long run if no emergency comes up your emergency savings would have gotten to a good amount you can still split it to get some cool things done for your self, like having fun or shopping , but the most important thing is to have an emergency saving.