JJG’s Outline of Bitcoin Investment Ideas

[Big Dirams]

Discretionary funds are the same as reserve fundsmeaning that investing in Bitcoin with our principal income is actually not a problem but having other funds available (emergency) certainly helps our movement in investing in Bitcoin especially since generally everyone prefers to do it for a long period because if they choose a short term I think it is for people who have limited funds or capital so for them it is natural to choose to do things in a short term way because perhaps the need is the main benchmark in being responsible for what is borne.

Discretionary income and reserve funds are quite close but they ain’t same. Discretionary income are just funds left after settling our bills and making provisions for our necessities while reserve funds on the other hand are just funds set aside for unprepared situations, in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Discretionary funds during investing time is meant to keep up with our accumulation in bitcoin for future. While reserved funds are for clearing our unprepared situations (emergencies) so we would not run back to our holdings. I hope this clarification between both are quite helpful.

[Sim_card]

Discretionary funds are the same as reserve funds meaning that investing in Bitcoin with our principal income is actually not a problem but having other funds available (emergency) certainly helps our movement in investing in Bitcoin especially since generally everyone prefers to do it for a long period

Nopes, your discretionary income is the extra funds left after you have meet up with taking care of your basic needs and monthly expenses. However, it's not compulsory that you discretionary income must come from your income. If you don't have a discretionary income, there's no way you can set up an emergency funds or a reserve funds neither, can you invest into bitcoin.

As for your principal income, it cannot be used to invest into bitcoin if there's no discretionary income in it. You need your income to take of your family needs and expenses and if you use it to accumulate bitcoin, it shows that you are gambling because when your needs arises, you will sell your bitcoin at loss, if the price is below your entry points.

Reserve funds is the second among other backup funds. It's more flexible than your emergency funds because it can be used to buy bitcoin the dip or tap from when an unforeseen emergency arises before touching your emergency funds if your reserve funds is not enough.

[Merit.s]

in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Reserve funds cannot be called an emergency funds because they both have different purposes and the size of your emergency funds is always big because it's at least three months of your monthly expenses and it can take more than a year to build it.

Reserve funds is part of a backup funds and if you don't have one, you can still continue with your bitcoin investment but I prefer to have a reserve funds but if you don't have an emergency funds when you're hit with real life emergency, your bitcoin investment will act as your emergency funds and that means that you will sell your bitcoin to take care of that emergency making it a wrong way to invest in bitcoin.

Reserve funds can be used to go to an expense restaurant to eat dinner, it can used first when a real life emergency arises before using your emergency funds and it is what we use to buy at the dip to increase your bitcoin portfolio to mix with your ongoing DCA.

[Finebone]

in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Reserve funds cannot be called an emergency funds because they both have different purposes and the size of your emergency funds is always big because it's at least three months of your monthly expenses and it can take more than a year to build it.

Reserve funds is part of a backup funds and if you don't have one, you can still continue with your bitcoin investment but I prefer to have a reserve funds but if you don't have an emergency funds when you're hit with real life emergency, your bitcoin investment will act as your emergency funds and that means that you will sell your bitcoin to take care of that emergency making it a wrong way to invest in bitcoin.

I totally agree to everything you said here because you are spot on here, and to add to what you have already said, it is important to take note the function of reserve funds is totally different from the function of emergency funds, even though they are both gotten from your discretionary income.
Emergency funds stands as the last layer of protection of your bitcoin investment, while reserve funds is that funds kept aside to service your Bitcoin investment, like buying aggressively during the dip.

Reserve funds can be used to go to an expense restaurant to eat dinner, it can used first when a real life emergency arises before using your emergency funds and it is what we use to buy at the dip to increase your bitcoin portfolio to mix with your ongoing DCA.

Talking about the highlighted statement here, I think that it's wrong to use your reserve funds to go to an expensive restaurant to eat, because what then is your discretionary income for consumption doing if you are going to be using your reserve funds to fund such lifestyle?
And while going out to eat with your discretionary income for consumption, you must be very careful not to over spend and go above it, so  that it wouldn't be problematic to your Bitcoin investment later in the future.

[Italian Panic]

...

holy shit guy, this sound like a court hearing!!

I won’t reply point by point, i don’t want to and I don’t have the time. I have been registered here since 2023, but i have been into Bitcoin since at least 2012, and the guy on the board I frequent know that. I took a break after the amazing erupter era, but never mind, I respect you for what you write, and I apologise if i mentioned trading in a thread where you want to talk about investments. In my personal point of view the two things are connected anyway, but I respect all points of view.
I will read the thread you recommended with interest, i will write here once i have updated myself with that thread.

[Proty]

in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Reserve funds cannot be called an emergency funds because they both have different purposes and the size of your emergency funds is always big because it's at least three months of your monthly expenses and it can take more than a year to build it.

Reserve funds is part of a backup funds and if you don't have one, you can still continue with your bitcoin investment but I prefer to have a reserve funds but if you don't have an emergency funds when you're hit with real life emergency, your bitcoin investment will act as your emergency funds and that means that you will sell your bitcoin to take care of that emergency making it a wrong way to invest in bitcoin.

Reserve funds can be used to go to an expense restaurant to eat dinner, it can used first when a real life emergency arises before using your emergency funds and it is what we use to buy at the dip to increase your bitcoin portfolio to mix with your ongoing DCA.

Emergency funds falls under reserve funds. Reserve funds is strictly for specific purposes like money that is meant for paying of bills, house rent and emergency. So when someone make use of the term reserve funds both emergency funds is included. It is not wrong for someone to say that they are using reserve funds for emergency. Since emergency funds falls under the category of emergency funds. Reserve funds is a general term that covers some kind of funds that is for specific purposes which emergency funds happen to fall under.

[alankasman]

Emergency funds falls under reserve funds. Reserve funds is strictly for specific purposes like money that is meant for paying of bills, house rent and emergency. So when someone make use of the term reserve funds both emergency funds is included. It is not wrong for someone to say that they are using reserve funds for emergency. Since emergency funds falls under the category of emergency funds. Reserve funds is a general term that covers some kind of funds that is for specific purposes which emergency funds happen to fall under.

I think the question you said is right on track because having a reserve fund will certainly help someone when someone's position is beyond expectations but by having a reserve fund only to solve something that might have a problem so that with the emergency fund of course everything will be resolved well so things like this must be done so that there is a meeting point for problems if they occur beyond our expectations even though sometimes we don't want the problem but it is an obligation that problems will come to cover us in every activity we do and in my opinion I also agree with what has been expressed that it is not wrong if someone says that they use a reserve fund for emergencies because this aims at each person's personal life whether in general or not.

[Big Dirams]

Emergency funds falls under reserve funds. Reserve funds is strictly for specific purposes like money that is meant for paying off bills, house rent and emergency. So when someone make use of the term reserve funds both emergency funds is included. It is not wrong for someone to say that they are using reserve funds for emergency. Since emergency funds falls under the category of emergency funds. Reserve funds is a general term that covers some kind of funds that is for specific purposes which emergency funds happen to fall under.

I did used the wrong term though mate @Merit.s is right though. Reserve funds and emergency funds are absolutely different thing and I shouldn’t have used such term though. Reserved and emergency funds are absolutely two different things I just made little enquiry though and find out that both differs from each other but they are quite alike though.
Same thing way you did thought they are same that was same way I did but unfortunately they differs in term of meaning.

[Itz-prisigold]

Going all in, in Bitcoin investment depends on discretionary income not financial situation because it is not your expense money you are going all in with but rather your discretionary income and anyone who uses their expenses or money outside their discretionary income to go all in, the person is actually trading and not investing because any investment money should come from discretionary as you will not have to use or need the money... and lastly going all in is not a bad idea, if you have the discretionary income available you can go ahead.

I am agreeing with you about using discretionary income,  and truly any proper investment in Bitcoin should really come from money that you don't need for you everyday survival. And that part is very important because it totally removes any form of pressure and also helps you to avoid making emotional decisions when the market make unexpected moves.

Going all in is not about where the money is coming from, going all in doesn't care whether the money is a discretionary income or not,  it is about how you choose to put that money into the market. See even if the money you are using is discretionary income, committing everything or putting everything at once can limit your flexibility.  We all know that the market does not move in straight line, so when you put everything at one point,  it doesn't give you enough room to adjust if the market condition changes.

This is the reason why my advice for you is to see more value in gradual accumulation rather than just committing everything at once. Whether you are using DCA or you are just accumulating gradually,  it gives you the ability to adjust and buy in different prices instead of locking yourself at a single decision, and this process take off a lot of stress because you are not really depending on one entry to define your  whole position.

[blockman]

Just balance all of those things but I agree that someone who invests in Bitcoin needs also to have some good standing with those things. Because if someone who invests in Bitcoin and they're also in a huge debt. What will happen? they're likely to sell the Bitcoins they're holding to pay for that debt. And that's why it's important that you balance things and you pay on time those debts and have it until you are debt free so your focus is on the investment that you have. Also with emergency fund, the same scenario can be made if you have not prepared for it.

I tend to get worried when guys gravitate towards believing that they need to change their bitcoin accumulation aggressiveness based on changes in the bitcoin price rather than being based on strength of their own financial management situation.. so yeah, if they figure out that they are in a strong financial situation based on recent developments (such as receiving some extra pay or being relieved of some expenses) or that they discovered some extra funds that they have available for bitcoin investing, then sure they might be in a position to increase their investment amount based on the strength of their finances rather than making major changes based on perceptions of being in a dip.

On the other hand, many guys might be inclined to assess that bitcoin prices are currently in a low area that is worthy of increasing the investment amount.. but yeah, if a guy considers himself to still be in fairly early stages of bitcoin accumulation, then it may well not be serving him well to be moving around his finances very much in order to greatly lump sum - especially in circumstances that his finances had not really changed very much and he was merely getting excited about our current dip status.

We should try to avoid (or at least minimize) putting ourselves in positions of getting emotional about our bitcoin, even though surely I understand that from time to time, guys may well feel likely tweaking their level of aggressiveness based on the price, and they surely have rights to do that, even though it might not be a very disciplined approach to bitcoin investment, especially since many of us (who are in bitcoin with an investment mindset) likely realize that it could take 10 years or more to really build up our bitcoin holdings to a meaningful amount.

I agree. Being emotional while we are invested in Bitcoin is going to cause a bad decision and that's likely to sell what you have patiently accumulated. I've got friends that's been with me for the past years holding some little amount of Bitcoins way back then. But as the price has skyrocketed, those were significant amounts that are good amount of savings already. Yet, because of impatience and emotions, they have sold too early and they thought that everything's going to drop and dead for Bitcoin. There is no turning back anymore for us, we know that this is the kind of investment that's life changing. Those who were able to survive the financial trials while being invested to Bitcoin, they've spent so much patience and discipline in it. And this is what the new investors doesn't have, they think that none of us took the rough road of emotions, patience and consistency because they're all eyes are only on the prize(price).

[JayJuanGee]

Going all in, in Bitcoin investment depends on discretionary income not financial situation because it is not your expense money you are going all in with but rather your discretionary income and anyone who uses their expenses or money outside their discretionary income to go all in, the person is actually trading and not investing because any investment money should come from discretionary as you will not have to use or need the money... and lastly going all in is not a bad idea, if you have the discretionary income available you can go ahead.

Why do some people always assume that investing requires relying on discretionary income when in fact if that income isn't sufficient for their needs? I think it's difficult to develop when investing. Finances should always be the primary benchmark for someone in investing so the situation will be more secure if such funds cover what is needed for daily needs.

Discretionary funds are the same as reserve funds meaning that investing in Bitcoin with our principal income is actually not a problem but having other funds available (emergency) certainly helps our movement in investing in Bitcoin especially since generally everyone prefers to do it for a long period because if they choose a short term I think it is for people who have limited funds or capital so for them it is natural to choose to do things in a short term way because perhaps the need is the main benchmark in being responsible for what is borne.

Your response and description of bitcoin investing and even how to think about discretionary funds is confusing cyberninja2.

Surely the various back up funds, including emergency funds and reserve funds are build up from prior discretionary funds, yet many times when we are referring to discretionary income, we are referring to what money is left over after accounting for expenses during that pay period and prior to the next paycheck coming in.

So, many guys will be investing into bitcoin from their discretionary funds, even though surely with their discretionary funds they could choose to use for discretionary consumption and/or to put into their various backup funds.

In recent times, I have been tending to get away from getting  into the weeds of differentiating between emergency funds and reserve funds, even though they are different kinds of back up funds, yet it seems to me that frequently guys will get off topic and focusing on various emergencies rather than considering the topic of this thread (and other bitcoin threads) which revolves around considering how we might be building up our bitcoin investment, maintaining it and perhaps not prematurely tapping into it, especially during those earliest of stages in which we should be building it up.. and even sometimes as the bitcoin holdings (and profits perhaps?) might be growing, some guys might be tempted into prematurely tapping into their bitcoin holdings based on how liquid bitcoin tends to be and also they may well be lured into how much in profits their bitcoin holdings might have had become relative to how much they put into it, and so they might get sucked into wanting to sell it, even though they might not recognize/appreciate that their own level of bitcoin accumulation may well not justify trying to fuck around with selling and/or losing their focus on ongoing buying,

and surely I understand additional dilemmas that may well come to guys when their bitcoin might have had gone up in large ways in very short periods of time, so then they get sucked into loss aversion kinds of motivations. .which are related to speculations that they could sell and buy back cheaper.  I am not completely sure how to help guys to help themselves in regards to their own needs to focus on bitcoin accumulation, and surely guys are empowered to do whatever they like in regards to their own bitcoin accumulation tactics/strategies.. .. even though surely I tend to find it problematic for guys who know that they are fairly early in accumulating bitcoin to conclude that they are going to accumulate bitcoin by selling rather than buying.. To me, it just seems like unnecessary gambling with their stash to go down that way of thinking and to actually end up executing sales that might not result in abilities to buy back cheaper.

Ultimately, if guys come to bitcoin and they develop an investment mindset and they put such mindset into practice, then it seems to be that through the years they will continue to build up their bitcoin investment and also their various back up funds until perhaps their bitcoin holdings gets to a high enough level so that they might thereafter feel justified to conclude that they had largely accumulated enough BTC or more than enough bitcoin, so then they no longer need to spend so much time and energy being focused on ongoing bitcoin accumulation but then perhaps transition themselves into more of a maintenance stage of their bitcoin investment journey.

Even with you, cyberninja2, you have been registered on this forum since November 2015, so the extent to which you had been been able to accumulate bitcoin during that time would likely help to inform you in regards to the extent to which you need to continue to ongoingly accumulate bitcoin or perhaps to the extent that you might be more inclined to ONLY accumulate during bitcoin price dips or perhaps other ways that you might have had transitioned out of bitcoin accumulation status.  By the way, in my quickie look at your post history, you had not appeared to be very focused on bitcoin accumulation in your earliest of year registered on the forum, which likely could have had delayed your abilities to reach overaccumulation status.

in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Reserve funds cannot be called an emergency funds because they both have different purposes and the size of your emergency funds is always big because it's at least three months of your monthly expenses and it can take more than a year to build it.

Of course, frequently in this thread (and in other bitcoin investment threads), we try to describe the process of building up back up funds to take place simultaneously towards building up bitcoin holdings, and so we likely realize that if it might take us a year or more to build up our emergency funds  (such as in situations in which we might be putting 10% or less of our overall income into both our bitcoin investment and into our emergency funds), then likely during that process, from time to time, we are going to run into cashflow problems in which our income might be lower than expected and/or our expenses might be higher than expected, so even if we might not feel that we are having any existential (or grave) emergency, the mere fact that our expenses might end up being higher than our income results in our need to tap into our back up funds.. and so then we may well end up getting delayed in our building up of our emergency funds to reach a size of 3 months of our expenses, and if we ended up getting through our crisis period without having to tap into our bitcoin, we may well consider that our back up funds had served their purpose, even though we likely have to build them back and even figure out how depleted that they had become in terms of figure out whether we can go back to building our bitcoin holdings or whether we should be exclusively building back our back up funds prior to adding to our bitcoin holdings..,. and surely these are not easy questions to answer, since guys may well give differing emphasis, and with that some guys might end up erroring on one side or another (either not putting enough into their back up funds or maybe overly focusing on their back up funds to the detriment of their ongoing building of their bitcoin holdings.).

I am not going to proclaim to know the answers, even though logically we likely realize that we want to lessen the chances that we are going to have to dip into our bitcoin, especially for likely scenarios that come up earlier in our process of building our bitcoin holdings (perhaps more likely in the first cycle), yet as we build up our various back up systems, we may well recognize that if there end up being any large needs for cash, then we may well have to consider the possibility of tapping into any investments that we might have, whether bitcoin and/or other investments, yet also the more wealth that we build, then the less likely that any greater size emergency is going to wipe us out, so there are advantages and options that come from building more and more wealth, whether that wealth is in bitcoin, cash and/or in other investments, and surely some assets/currencies are more liquid (available) than others  and some asset/currencies are more volatile than others, so if we are faced with situations in which for extended periods of time our income went down and/or our expenses went up, we would have hierarchies in regards to which assets/currencies we draw from first, second, third etc.. based on accessibility, volatility and of course, the greater our wealth the greater the options, even if  we might have preferences to protect our bitcoin, if we have gotten to a state of having a lot of bitcoin, then we might end up being more relaxed in regards to which asset/currency we use to settle our immediate expenses. .. which surely seems to be more of a luxury for guys who had accumulated more wealth, and guys in their earlier stages of accumulation could end up getting completely wiped out based on their not having enough time to really build up their wealth - and surely they could end up suffering more if they are not ongoingly making sure that they are adequately and sufficiently accounting for their own particulars that involve the various assets/currencies they have available and the likelihood that they might suffer from unexpected loss of income and/or increased expenses.

Reserve funds is part of a backup funds and if you don't have one, you can still continue with your bitcoin investment but I prefer to have a reserve funds but if you don't have an emergency funds when you're hit with real life emergency, your bitcoin investment will act as your emergency funds and that means that you will sell your bitcoin to take care of that emergency making it a wrong way to invest in bitcoin.

Reserve funds can be used to go to an expense restaurant to eat dinner, it can used first when a real life emergency arises before using your emergency funds and it is what we use to buy at the dip to increase your bitcoin portfolio to mix with your ongoing DCA.

I agree with all of these points.

Reserve funds can be used to go to an expense restaurant to eat dinner, it can used first when a real life emergency arises before using your emergency funds and it is what we use to buy at the dip to increase your bitcoin portfolio to mix with your ongoing DCA.

Talking about the highlighted statement here, I think that it's wrong to use your reserve funds to go to an expensive restaurant to eat, because what then is your discretionary income for consumption doing if you are going to be using your reserve funds to fund such lifestyle?
And while going out to eat with your discretionary income for consumption, you must be very careful not to over spend and go above it, so  that it wouldn't be problematic to your Bitcoin investment later in the future.

Reserve funds can be used on whatever you like, whether it is a good way of spending or not.. especially if you think about reserve funds as extra discretionary funds that have been building up, so then they can be used to invest, save and/or discretionarily consume.

Don't get reserve funds mixed up with emergency funds, since emergency funds would be the category of your back up funds in which you prefer to not allow your back up funds to fall to such levels, so you are reluctant to use emergency funds for anything unless you have to, and surely the emergency funds would be the last funds that you have available prior to your having to tap into your bitcoin .. so the more that you build up your emergency funds, then they might start to become excessive and to have more flexibility which  would mean that they would be reserve funds once you have the option to spend them on anything and you don't feel any urgency to replace them as soon as possible after you had spent them.

...

holy shit guy, this sound like a court hearing!!

I won’t reply point by point, i don’t want to and I don’t have the time. I have been registered here since 2023, but i have been into Bitcoin since at least 2012, and the guy on the board I frequent know that. I took a break after the amazing erupter era, but never mind, I respect you for what you write, and I apologise if i mentioned trading in a thread where you want to talk about investments. In my personal point of view the two things are connected anyway, but I respect all points of view.
I will read the thread you recommended with interest, i will write here once i have updated myself with that thread.

Ok. We don't necessarily need to agree, even though I likely would not have a lot of tolerance to derail this thread too much into talking about trading unless there might be ways in which such trading ideas might end up relating to this thread. 

In that regard, if your ideas about trading versus investing relate to this thread, then we could maybe bat around some of those ideas of ways that trading and/or investing might end up having some overlap, even though surely historically, my own views have been that the trading of bitcoin has been potentially problematic in the building of bitcoin portfolios, if building of a bitcoin portfolio might have happened to have been the objective of the person who ended up trading rather than ongoingly buying and/or holding. 

I also consider that if guys get into overaccumulation status, then they may well start to employ selling in their maintenance of their bitcoin holdings, yet in that case they are not necessarily as focused on accumulating bitcoin, and they are not selling bitcoin for the purpose of accumulating more bitcoin.

In any event, no problem, I look forward to your response, if any, at a later time.

Going all in, in Bitcoin investment depends on discretionary income not financial situation because it is not your expense money you are going all in with but rather your discretionary income and anyone who uses their expenses or money outside their discretionary income to go all in, the person is actually trading and not investing because any investment money should come from discretionary as you will not have to use or need the money... and lastly going all in is not a bad idea, if you have the discretionary income available you can go ahead.

I am agreeing with you about using discretionary income,  and truly any proper investment in Bitcoin should really come from money that you don't need for you everyday survival. And that part is very important because it totally removes any form of pressure and also helps you to avoid making emotional decisions when the market make unexpected moves.

Going all in is not about where the money is coming from, going all in doesn't care whether the money is a discretionary income or not, 

You sound confused.

How could "going all in" not relate to discretionary funds?

Presumptively if you "go all in" then you are using all the money from your discretionary funds and perhaps even some funds that you save up, such as reserve funds.

If you use money beyond your discretionary funds, then you likely have overdone it.. or maybe you are gambling with that money with a hope that the BTC price goes up before you need the money for your expenses.

Sometimes, we talk about guys investing up to 100% of their discretionary income into bitcoin, yet from my own perspective, that may be a bit dangerous to employ those kinds of tactics/strategies, even though if you have strong levels of emergency funds and /or strong levels of reserve funds, then you would at least have some reasonable abilities to invest 100% of your discretionary income into bitcoin since the reserve funds and/or the emergency funds would serve as back ups in the event that you have some extra expenses that might come up prior to your next paycheck arriving.  For that reason, many times, it is recommended that guys invest less than 100% of their discretionary funds into bitcoin, even though surely it is within their abilities to choose how aggressive they are going to be, and hopefully for their own good, they don't overdo it.

it is about how you choose to put that money into the market. See even if the money you are using is discretionary income, committing everything or putting everything at once can limit your flexibility.  We all know that the market does not move in straight line, so when you put everything at one point,  it doesn't give you enough room to adjust if the market condition changes.

This is the reason why my advice for you is to see more value in gradual accumulation rather than just committing everything at once. Whether you are using DCA or you are just accumulating gradually,  it gives you the ability to adjust and buy in different prices instead of locking yourself at a single decision, and this process take off a lot of stress because you are not really depending on one entry to define your  whole position.

These last two paragraphs seem more accurate than your earlier paragraphs, so at least it seems that you understand that we have to be careful not to overdo our investment into bitcoin because we may well end up getting ourselves into trouble if wee don't have some back up funds in case we have some extra expenses prior to our next paycheck arriving..

[edited out]

I agree. Being emotional while we are invested in Bitcoin is going to cause a bad decision and that's likely to sell what you have patiently accumulated. I've got friends that's been with me for the past years holding some little amount of Bitcoins way back then. But as the price has skyrocketed, those were significant amounts that are good amount of savings already. Yet, because of impatience and emotions, they have sold too early and they thought that everything's going to drop and dead for Bitcoin. There is no turning back anymore for us, we know that this is the kind of investment that's life changing. Those who were able to survive the financial trials while being invested to Bitcoin, they've spent so much patience and discipline in it. And this is what the new investors doesn't have, they think that none of us took the rough road of emotions, patience and consistency because they're all eyes are only on the prize(price).

It is true that some guys may well end up selling too much of their bitcoin too early, and discontinue in their ongoing accumulation of BTC, and so it may well take years before they recognize and appreciate the mistake that they made, including that perhaps when they started to invest in bitcoin, they did not sufficiently/adequately pace themselves in their bitcoin accumulation (and their cashflow management) so that they would not end up panic selling based on their psychology and/or finances that relate to downward moves in the BTC price.

[POPOLUV]

Discretionary funds are the same as reserve fundsmeaning that investing in Bitcoin with our principal income is actually not a problem but having other funds available (emergency) certainly helps our movement in investing in Bitcoin especially since generally everyone prefers to do it for a long period because if they choose a short term I think it is for people who have limited funds or capital so for them it is natural to choose to do things in a short term way because perhaps the need is the main benchmark in being responsible for what is borne.

Discretionary income and reserve funds are quite close but they ain’t same. Discretionary income are just funds left after settling our bills and making provisions for our necessities while reserve funds on the other hand are just funds set aside for unprepared situations, in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Discretionary funds during investing time is meant to keep up with our accumulation in bitcoin for future. While reserved funds are for clearing our unprepared situations (emergencies) so we would not run back to our holdings. I hope this clarification between both are quite helpful.

I totally understand and agree with you on this because sometimes, so many investors misinterpret the difference between a discretionary income and a reserve funds, note that as a newbie you should be able to differentiate what a discretionary income stand for when it comes to Bitcoin investments and what a reserve funds equally stand for you, it is very obvious that some mistakes reserve funds to be discretionary income, i really appreciate Big Dirams that was able to expansiate between both of them, in all i added my for clear understanding, a discretionary income is an income that left after all your expenses or payment of bills and why reserve can be knowns as an emergency fund and this funds many mistake it to discretionary income which you can use for an investment but is total know, emergency fund are found kept aside incase of any unforseen circumstances that comes or happen during your buying and accumulating period, so reserve funds or emergency fund do work of prevention of pulling your investments out prematurely when you need money most.

[Itz-prisigold]

Going all in, in Bitcoin investment depends on discretionary income not financial situation because it is not your expense money you are going all in with but rather your discretionary income and anyone who uses their expenses or money outside their discretionary income to go all in, the person is actually trading and not investing because any investment money should come from discretionary as you will not have to use or need the money... and lastly going all in is not a bad idea, if you have the discretionary income available you can go ahead.

I am agreeing with you about using discretionary income,  and truly any proper investment in Bitcoin should really come from money that you don't need for you everyday survival. And that part is very important because it totally removes any form of pressure and also helps you to avoid making emotional decisions when the market make unexpected moves.

Going all in is not about where the money is coming from, going all in doesn't care whether the money is a discretionary income or not, 

You sound confused.

How could "going all in" not relate to discretionary funds?

Presumptively if you "go all in" then you are using all the money from your discretionary funds and perhaps even some funds that you save up, such as reserve funds.

If you use money beyond your discretionary funds, then you likely have overdone it.. or maybe you are gambling with that money with a hope that the BTC price goes up before you need the money for your expenses.

Sometimes, we talk about guys investing up to 100% of their discretionary income into bitcoin, yet from my own perspective, that may be a bit dangerous to employ those kinds of tactics/strategies, even though if you have strong levels of emergency funds and /or strong levels of reserve funds, then you would at least have some reasonable abilities to invest 100% of your discretionary income into bitcoin since the reserve funds and/or the emergency funds would serve as back ups in the event that you have some extra expenses that might come up prior to your next paycheck arriving. 

I think my wording may have confused or misinterpret my point and I'm sorry if I confused you with how I made the sentence. Please believe me when I say this: I never said discretionary funds don't matter, or do I mean going all in is not related to discretionary income. I completely agree that funds not needed for daily survival is the basis for proper Bitcoin investing. And without it, everything else can become too risky, I believe.

Now what I was actually focusing on more was the allocation side of going all in. I was trying to point out that even if you are investing with your discretionary income, committing 100% or putting everything at once might reduce flexibility, most especially if the market moves unexpectedly before your next inflow of money. And I think is almost the same thing with this your point here which I quote.

For that reason, many times, it is recommended that guys invest less than 100% of their discretionary funds into bitcoin, even though surely it is within their abilities to choose how aggressive they are going to be, and hopefully for their own good, they don't overdo it.

That is where gradual accumulation or DCA really helps, the strategy will allow you to adjust and buy at different price levels, which will also help to reduce stress of depending on a single entry.

I totally agree with you that it all comes down to how aggressive or how willing someone chooses to approach their investment. And there are investors that have the ability and funds to go all in, but I believe that is not a good practical approach. Keeping some little extra just in case, even with you discretionary income, it makes the process easier to adjust overtime and stay consistent without putting yourself under pressure.

[JayJuanGee]

Going all in, in Bitcoin investment depends on discretionary income not financial situation because it is not your expense money you are going all in with but rather your discretionary income and anyone who uses their expenses or money outside their discretionary income to go all in, the person is actually trading and not investing because any investment money should come from discretionary as you will not have to use or need the money... and lastly going all in is not a bad idea, if you have the discretionary income available you can go ahead.

I am agreeing with you about using discretionary income,  and truly any proper investment in Bitcoin should really come from money that you don't need for you everyday survival. And that part is very important because it totally removes any form of pressure and also helps you to avoid making emotional decisions when the market make unexpected moves.

Going all in is not about where the money is coming from, going all in doesn't care whether the money is a discretionary income or not, 

You sound confused.
How could "going all in" not relate to discretionary funds?

Presumptively if you "go all in" then you are using all the money from your discretionary funds and perhaps even some funds that you save up, such as reserve funds.
If you use money beyond your discretionary funds, then you likely have overdone it.. or maybe you are gambling with that money with a hope that the BTC price goes up before you need the money for your expenses.

Sometimes, we talk about guys investing up to 100% of their discretionary income into bitcoin, yet from my own perspective, that may be a bit dangerous to employ those kinds of tactics/strategies, even though if you have strong levels of emergency funds and /or strong levels of reserve funds, then you would at least have some reasonable abilities to invest 100% of your discretionary income into bitcoin since the reserve funds and/or the emergency funds would serve as back ups in the event that you have some extra expenses that might come up prior to your next paycheck arriving. 

I think my wording may have confused or misinterpret my point and I'm sorry if I confused you with how I made the sentence. Please believe me when I say this: I never said discretionary funds don't matter, or do I mean going all in is not related to discretionary income. I completely agree that funds not needed for daily survival is the basis for proper Bitcoin investing. And without it, everything else can become too risky, I believe.

Now what I was actually focusing on more was the allocation side of going all in. I was trying to point out that even if you are investing with your discretionary income, committing 100% or putting everything at once might reduce flexibility, most especially if the market moves unexpectedly before your next inflow of money. And I think is almost the same thing with this your point here which I quote.

For that reason, many times, it is recommended that guys invest less than 100% of their discretionary funds into bitcoin, even though surely it is within their abilities to choose how aggressive they are going to be, and hopefully for their own good, they don't overdo it.

That is where gradual accumulation or DCA really helps, the strategy will allow you to adjust and buy at different price levels, which will also help to reduce stress of depending on a single entry.

I totally agree with you that it all comes down to how aggressive or how willing someone chooses to approach their investment. And there are investors that have the ability and funds to go all in, but I believe that is not a good practical approach. Keeping some little extra just in case, even with you discretionary income, it makes the process easier to adjust overtime and stay consistent without putting yourself under pressure.

Some ideas are ambiguous, and perhaps even wrong if they are not explained within a context, and surely a description of "all in" tends to have a lot of variations in terms of how it is meant, so it may deserve some explanation, as you did with your supplemental post.

So, like you said, there are variations of "all in" that could end up getting a guy in trouble, and there might be other variations of "all in" that are manageable, and they are likely manageable because they are not completely "all in," since there would be a bit of recklessness in situations that guys do not keep some funds that could cushion them, at least until they get their next paycheck, and surely there are guys who need to think much further than 1-2 paychecks down the road, since if they do not have regular income coming in, and then they are spending all of their money (whether investing or consumption), they could end up getting themselves into trouble, and surely one of my own ongoing precautions is to suggest that guys put a variety of systems in place so that they would greatly reduce (if not eliminate?) the chances that they would have to dip into their bitcoin at time that is not completely of their own choosing.. and surely in bitcoin's history we have a lot of examples in which guys ended up selling way too much bitcoin too soon, and some of those instances could have had been avoided by better cashflow management practices, and other of those instances could have had been avoided if they had come to bitcoin (and stayed) with reasonably longer term (such as 4-10 years or longer) investing approach rather than a trading mindset.

Ultimately guys can do what they want in their consideration and/or participation in bitcoin, and sometimes they end up learning the hard way (or after several years of mistakes and not being able to go back in time and do it over), which is part of the reason that I had created this thread in order to help guys in terms of potentially helping themselves in their considering (and hopefully choosing) investing into bitcoin and limiting their attempts at trading and/or screwing around with shitcoins and hopefully at the same time, creating and following strong cashflow management systems and/or practices.

[laijsica]

You are largely correct laijsica.

One of the most inevitable things in bitcoin is its volatility, and we cannot even have 100% confidence in the direction of bitcoin's volatility, especially in the short term.

So in some sense, we are advantaged to know about bitcoin's volatility so that we will not let such a known thing affect us behaviorally and/or psychologically, and so in that regard, we try to control the matters that we are able to control that relate to our cashflow management and figuring out how much we are going to continue to invest into bitcoin on a persistent, consistent, regular, ongoing and perhaps even aggressive basis... And, yeah, it tends to take years and years to build up an investment portfolio, even though there might be ways that we might be able to also improve our situation by ongongly figuring out ways that we might be able to increase our discretionary income by increasing our income and/or cutting our expenses.

It is impossible to control the volatility of Bitcoin but it is possible to reduce personal volatility through our psychology and strategy. In this inevitable volatility of Bitcoin price you should dispose your investment with discipline.

You know that there is psychological risk with volatility you should adopt strategies such as DCA method to overcome that stage. With ongoing DCA cash flow can emerge as an important regulator through which a decent portfolio can be built by doing aggressive DCA at different times. We should continue to accumulate Bitcoin year after year because if you have a stream of discretionary income and discretionary income also increases with the growth of income and the psychological strategy of gradually increasing the amount of Bitcoin because you should not be volatile in accumulating Bitcoin in the face of price volatility.

[Umulala-alala]

in nut shell we can as well refer reserved funds as emergency funds.  Reserve funds are funds for unforeseen expenses.

Reserve funds cannot be called an emergency funds because they both have different purposes and the size of your emergency funds is always big because it's at least three months of your monthly expenses and it can take more than a year to build it.

Reserve funds is part of a backup funds and if you don't have one, you can still continue with your bitcoin investment but I prefer to have a reserve funds but if you don't have an emergency funds when you're hit with real life emergency, your bitcoin investment will act as your emergency funds and that means that you will sell your bitcoin to take care of that emergency making it a wrong way to invest in bitcoin.

Reserve funds can be used to go to an expense restaurant to eat dinner, it can used first when a real life emergency arises before using your emergency funds and it is what we use to buy at the dip to increase your bitcoin portfolio to mix with your ongoing DCA.

Emergency funds falls under reserve funds. Reserve funds is strictly for specific purposes like money that is meant for paying of bills, house rent and emergency. So when someone make use of the term reserve funds both emergency funds is included. It is not wrong for someone to say that they are using reserve funds for emergency. Since emergency funds falls under the category of emergency funds. Reserve funds is a general term that covers some kind of funds that is for specific purposes which emergency funds happen to fall under.

What you are actually saying now is that emergency fund and reserve fund are thesame thing? Emergency fund is different from reserve fund and i believe are gotten from our discretionary income after we have sort out all important needs. We can't use our emergency fund to buy bitcoin but we can use our reserve fund to buy BTC is this two funds are different from each other, emergency fund is use to tackle your life emergencies when they happen with you going to sell your bitcoin hodling to do this while your reserve fund can be use to buy bitcoin when the needs come it could even be use to buy more bitcoin when there is decline in the price of BTC.

[JayJuanGee]

You are largely correct laijsica.

One of the most inevitable things in bitcoin is its volatility, and we cannot even have 100% confidence in the direction of bitcoin's volatility, especially in the short term.

So in some sense, we are advantaged to know about bitcoin's volatility so that we will not let such a known thing affect us behaviorally and/or psychologically, and so in that regard, we try to control the matters that we are able to control that relate to our cashflow management and figuring out how much we are going to continue to invest into bitcoin on a persistent, consistent, regular, ongoing and perhaps even aggressive basis... And, yeah, it tends to take years and years to build up an investment portfolio, even though there might be ways that we might be able to also improve our situation by ongongly figuring out ways that we might be able to increase our discretionary income by increasing our income and/or cutting our expenses.

It is impossible to control the volatility of Bitcoin but it is possible to reduce personal volatility through our psychology and strategy. In this inevitable volatility of Bitcoin price you should dispose your investment with discipline.

You know that there is psychological risk with volatility you should adopt strategies such as DCA method to overcome that stage. With ongoing DCA cash flow can emerge as an important regulator through which a decent portfolio can be built by doing aggressive DCA at different times. We should continue to accumulate Bitcoin year after year because if you have a stream of discretionary income and discretionary income also increases with the growth of income and the psychological strategy of gradually increasing the amount of Bitcoin because you should not be volatile in accumulating Bitcoin in the face of price volatility.

I don't necessarily consider that there is any reason for either newbie bitcoiners or even any bitcoiners who are ongoingly in their accumulation phase to be changing the level of their bitcoin accumulation aggressiveness based on bitcoin price changes rather than based on the strength of their cashflow management... so.. accordingly, it seems that being prepared for ongoing and inevitable volatility is merely to be prepared for the bitcoin price to move in either direction at any time and also to move towards extremes and to stay in extreme price locations for longer than expected.. so  from my point of view, preparation relates to merely recognizing and appreciating that such volatility is fairly inevitable to happen and to just keep buying bitcoin through the whole process on a weekly basis or however frequently and ongoingly for 4-10 years or longer (however long it takes to build up the bitcoin holdings to decent levels).

You been on the forum for slightly more than 2 years laijsica. .Haven't you learned about ongoing accumulation of bitcoin?  I imagine that there are quite a few guys who have been in bitcoin for 2.5 years or less, and right now their average cost per BTC is higher than the current price, so some of those guys are second guessing their bitcoin accumulation strategies and perhaps even presuming that they have to adjust the way that they accumulate bitcoin based on BTC price moves rather than based on their own cashflows.. so surely some of the newer bitcoiners are still confused about the value of ongoing, persistent and consistent accumulation of bitcoin, and surely guys in their first whole cycle are likely needing to ongoingly accumulate bitcoin based on their cashflows especially if they have less than 4 years in bitcoin, unless maybe they were able to front load their bitcoin at a certain time at prices much lower than current prices.   Sure, from time to time, newer bitcoiners might have some instances in which they might want to buy some extra bitcoin based on some extra money that had come in, yet if newer guys are already regularly buying bitcoin, the need to buy extra might not be anything that gets them very excited since they already are largely buying on a regular and consistent basis.

I question why guys seem to frequently presume that the level of aggressiveness in buying bitcoin needs to change based on BTC price moves rather than based on the strength of their cashflows.   

I have given so many examples in the past to show how tweaks to ongoing bitcoin accumulation might be made here and there, yet it is not always going to be the case that guys who have been in bitcoin for short periods of time are going to have their bitcoin holdings in profits, and they should not even be concerned about that while they are still consistently buying.  There also seems to be a good amount of value to be able to ongoingly accumulate bitcoin during dip periods.. and we did not have too many dip periods for the whole time that the BTC price has been mostly moving up since late 2022, yet if guys are already buying bitcoin consistently, persistently, ongoingly, regularly and perhaps even aggressively, they are not exactly going to have extra money for buying dips, if the dips end up happening, unless they might have some extra income that comes in or maybe they have some situation in which their expenses go down for a period of time...

For example, maybe they have regular expenses that are around $1,500 per month, and around $900 of their monthly expenses are to pay for lodging (rent or whatever), and so then they come to an agreement to allow an additional person to lodge with them for two months, and that person is going to pay around $350 per month to cover lodging and perhaps some of the extra food expenses.. so then maybe for those two months, the person has an extra $300-ish per month that could be used to buy bitcoin, if they were to choose to put that extra money in bitcoin or maybe use that $300 per month for two months for backup funds. 

Changes in the bitcoin price would not make much of a difference, except recognizing that price change could come at any time, but the decisions to buy bitcoin and from my perspective, how to handle any extra money that might come available at any time is based on the availability of the money and not based on changes in the bitcoin price.. .unless maybe the guy might decide that he is going to divide the extra $300 into 3 parts in order to use $100 to 1) buy bitcoin right away when he get the money, 2) stagger the other $100 into the weekly buys and put around $23 per week into the extra buys... and/or 3) maybe to allocate the remaining $100 for buying dips that may or may not end up happening, so maybe for the buying the dip portion, there could be a price target to buy an additional $33 worth of bitcoin every time time the bitcoin price goes down $2k (if it ends up happening) for the next $6k down (and surely at current prices, that might be at $68k, $66k and $64k (something like that and realizing that those buys may or may not end up happening). Those are systematic ways to deal with changes in cashflow and even perhaps attempting to account for extra cashflow and how to allocate such extra cashflow, potentially considering and maybe employing the three buying methods.

But yeah, if a person is ongoingly buying $70 of bitcoin per week, then over a year, he would have had invested around $3,500 and over 10 years around $35k, so it adds up, even though each particular buy might not add up to a lot, even though surely the BTC buys that took place 10 years earlier may well should have had average purchase prices that are much less expensive (more satoshis per dollar) as compared with the BTC purchases that end up happening 10 years later.  It is not guaranteed, but right now there seems to be no reason to doubt that bitcoin's ongoing price trajectory remains up, especially in the longer term, even  though the shorter term is difficult to know with any level of certainty which justifies ongoingly buying, perhaps on a weekly basis for 4-10 years or longer for many normies who might not be able to frontload their bitcoin investment.

[B-BossMan]

[edited out]

I agree. Being emotional while we are invested in Bitcoin is going to cause a bad decision and that's likely to sell what you have patiently accumulated. I've got friends that's been with me for the past years holding some little amount of Bitcoins way back then. But as the price has skyrocketed, those were significant amounts that are good amount of savings already. Yet, because of impatience and emotions, they have sold too early and they thought that everything's going to drop and dead for Bitcoin. There is no turning back anymore for us, we know that this is the kind of investment that's life changing. Those who were able to survive the financial trials while being invested to Bitcoin, they've spent so much patience and discipline in it. And this is what the new investors doesn't have, they think that none of us took the rough road of emotions, patience and consistency because they're all eyes are only on the prize(price).

It is true that some guys may well end up selling too much of their bitcoin too early, and discontinue in their ongoing accumulation of BTC, and so it may well take years before they recognize and appreciate the mistake that they made, including that perhaps when they started to invest in bitcoin, they did not sufficiently/adequately pace themselves in their bitcoin accumulation (and their cashflow management) so that they would not end up panic selling based on their psychology and/or finances that relate to downward moves in the BTC price.

Factual, the panic selling is also one of the major and biggest challenges many upcoming investors are facing today, at time it driven by financial pressures, fear of missing out and also lack of proper financial planning or investment planning. When there's a bitcoin market dip down prices some folks actually sell thier bitcoin investment instead of holding it for long and be observing, they ended up sell it too early even with or without profits. And all these usually happens when there wasn't enough understanding of how the market cycles works, expecialy those that doesn't properly know how the risk tolerance are being managed and cash flows.

I personally, was once had an experienced on this scenario, I bought on local item worth about $30 then, and it later add more value, which I sold it about $35 after couples of months, then for about 1 to 2 year, that's when I started regretting why I sold it because those that keep thier own later sold it about $60. So hadn't been I was patient enough I would have double the money I used to bought it. Moreover, patience is the best key to successful investment.

So in Bitcoin investment, those who actually stay consistent, plan themselves well and remain patience are the people that are more likely to benefit in the long race.

[Barikui1]

It is true that some guys may well end up selling too much of their bitcoin too early, and discontinue in their ongoing accumulation of BTC, and so it may well take years before they recognize and appreciate the mistake that they made, including that perhaps when they started to invest in bitcoin, they did not sufficiently/adequately pace themselves in their bitcoin accumulation (and their cashflow management) so that they would not end up panic selling based on their psychology and/or finances that relate to downward moves in the BTC price.

Factual, the panic selling is also one of the major and biggest challenges many upcoming investors are facing today, at time it driven by financial pressures, fear of missing out and also lack of proper financial planning or investment planning. When there's a bitcoin market dip down prices some folks actually sell thier bitcoin investment instead of holding it for long and be observing, they ended up sell it too early even with or without profits. And all these usually happens when there wasn't enough understanding of how the market cycles works, expecialy those that doesn't properly know how the risk tolerance are being managed and cash flows.

I don't think that panic selling has anything to do with lack of knowledge or how the market circles goes, I think that it's more of investing what you can not afford to lose, because I believe that even though an investor doesn't know much about Bitcoin, and he invested only what he can afford to lose, he will still not panic and sell so quickly because even in the worst possible scenario, he will still be fine, and he would not sell because he has the intention of holding long.

Secondly, you might have the basic knowledge, and know everything about Bitcoin but if you fail to invest with what you can afford to lose or what you can do away with for a very long period of time, you are likely going to panic and sell prematurely once their is a serious dip in the market, because your emotions will over power you then, no matter how knowledgeable you are, that's why investing from your discretionary income is greatly encouraged.

I personally, was once had an experienced on this scenario, I bought on local item worth about $30 then, and it later add more value, which I sold it about $35 after couples of months, then for about 1 to 2 year, that's when I started regretting why I sold it because those that keep thier own later sold it about $60. So hadn't been I was patient enough I would have double the money I used to bought it. Moreover, patience is the best key to successful investment.

This is why proper orientation is very important from the start, because if you bought it with the intention of holding for a very long time, you will not sell prematurely just because you are now in a five dollar profit, but it's a good thing that you have learnt from your mistakes, and I hope you do not repeat it again.

[JayJuanGee]

[edited out]

I agree. Being emotional while we are invested in Bitcoin is going to cause a bad decision and that's likely to sell what you have patiently accumulated. I've got friends that's been with me for the past years holding some little amount of Bitcoins way back then. But as the price has skyrocketed, those were significant amounts that are good amount of savings already. Yet, because of impatience and emotions, they have sold too early and they thought that everything's going to drop and dead for Bitcoin. There is no turning back anymore for us, we know that this is the kind of investment that's life changing. Those who were able to survive the financial trials while being invested to Bitcoin, they've spent so much patience and discipline in it. And this is what the new investors doesn't have, they think that none of us took the rough road of emotions, patience and consistency because they're all eyes are only on the prize(price).

It is true that some guys may well end up selling too much of their bitcoin too early, and discontinue in their ongoing accumulation of BTC, and so it may well take years before they recognize and appreciate the mistake that they made, including that perhaps when they started to invest in bitcoin, they did not sufficiently/adequately pace themselves in their bitcoin accumulation (and their cashflow management) so that they would not end up panic selling based on their psychology and/or finances that relate to downward moves in the BTC price.

Factual, the panic selling is also one of the major and biggest challenges many upcoming investors are facing today, at time it driven by financial pressures, fear of missing out and also lack of proper financial planning or investment planning. When there's a bitcoin market dip down prices some folks actually sell thier bitcoin investment instead of holding it for long and be observing, they ended up sell it too early even with or without profits. And all these usually happens when there wasn't enough understanding of how the market cycles works, expecialy those that doesn't properly know how the risk tolerance are being managed and cash flows.

Selling too much too soon can come during correction periods, and it can also come during times that the BTC price is going up.

Of course, if a person had already reached his overaccumulation status, he has more flexibility, yet he still should not be selling too kmuch bitcoin wehn the prices are in corrections like our current one.

If guys are ongoingly accumulating, then they just buy every week, yet if they are trying to be more aggressive to buy the dip, then they may well run out of money when they were buying, and perhaps they were buying when the price broke below $100k, so then they might have had largely run out by the time the BTC price dropped below $90k-ish...  and yeah, sometimes running out of money just means going back to DCA and buying as the money comes in, or perhaps just HOLDing through the whole situation, yet no one (including those who have been in bitcoin for a while) really feels comfortable to NOT have any money to be able to buy in the event that the BTC price might go lower.

On the other hand, I cannot really see why newer bitcoiners would be running out of money, since ideally, they should just be ongoingly buying on a weekly basis no matter the BTC price and surely these kinds of times do seem like times to ongoingly buy bitcoin...  ..  but, yeah, I do understand that some guys (even newbies) might go down the path of buying more aggressively (and perhaps too much) during dips and then they end up mostly depleting most of their bitcoin buying stash. .or any stash that they might have had built up for such purposes of buying the dip.

I personally, was once had an experienced on this scenario, I bought on local item worth about $30 then, and it later add more value, which I sold it about $35 after couples of months, then for about 1 to 2 year, that's when I started regretting why I sold it because those that keep thier own later sold it about $60. So hadn't been I was patient enough I would have double the money I used to bought it. Moreover, patience is the best key to successful investment.

It seems that with bitcoin many of us should be considering our timeline to be greater than 10 years, unless we might have some health or age concerns that might cause us to have a 4-10 year timeline... so it does not seem to be a great idea to be giving too much thought to price if we are still accumulating, unless for some reason we might have had front loaded our investment during the 2022 to 2023 dip, yet even then, it seems that guys who might  have had been figuring that they are able to sell, then maybe they are still in a bit of a trading mentality.. unless maybe you might be referring to guys who had accumulated their bitcoin stash prior to 2021, then they might feel some justification in selling some of their BTC, even though it might still not be in their best interest to be selling rather than buying at current prices... but yeah, sometimes they might just be in a situation in which they ae neither buying nor selling, but just holding through our current price dynamics.

So in Bitcoin investment, those who actually stay consistent, plan themselves well and remain patience are the people that are more likely to benefit in the long race.

Sure.  if we are talking about guys that are still in their first 4-ish years of accumulation, and even it seems to me that these days, it may well take a couple of cycles for guys to build up a large enough stash that they might start to move away from ongoingly accumulating bitcoin.  You might want to provide with an example, since i think that what a guy does depends on where he is at and how much BTC he might have had already accumulated.  WE are not all in the same place of our bitcoin investment journey, and surely there are guys that are between stages, so it can be ambiguous regarding what they should do, presuming that they are actually treating bitcoin as an investment and not distracted by trading and/or shitcoins.