JJG’s Outline of Bitcoin Investment Ideas

[Rockson1]

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

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

@Brizi5000 please next time try bro edit the post you may not want to quote and leave the one you are mainly concentrating on to make your work neat this will help the reader to understand you very well although that is by the way, I do not think anyone will say that emergency funds are not important important when investing in Bitcoin of course we know the purpose it serves, the thing is that some people do not know how to explain why it is been said that it is not a must that we will have it present before we can start our investment, I'm sure that you know that there things that can cause discouragement as an investor, let's take for instance that you are an intending intending investor that is ready to start your investment and may you do not have emergency funds ready, will you start by building it first before starting up your investment or will you start your investment along side with building the emergency funds? Personally I think the best way to go about a situation like this is to build the emergency funds along side with your investment which I have already said but if you have build the emergency funds already it is also good, just in you do not know why thing some people keep saying that it is not a must   is because we are avoiding any that will lead to a change of mind in investing in Bitcoin, I hope you get it right.

[Olatundespo]

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

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

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

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

Surprisingly I became aware of the emergency fund after joining the forum which has helped me a lot in terms of long term Bitcoin accumulation. I was involved in centralise investments but no one advised me about emergency funds. I was very aware of this issue from the beginning of Bitcoin accumulation so I can continuing DCA without any fear. An emergency can arise at any time or you may lose your job due to global reasons and you need to take care of your family until you find a new one. You can solve your personal and family problems without withdrawing your Bitcoin holdings through this fund. Some smart investors keep cash flow available with emergency funds to meet small scale emergencies.

[Nwadiche]

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

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

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

[Saltysugar99]

Whatever you do, there must be some specific plan before it. Suppose you are going to build a house, but you must have a plan, if you do not have a plan, then it is not possible to do anything randomly because to build a house, it is necessary to design it through an engineer, then other work needs to be done, it has to be done step by step and to do this, a plan is definitely needed. Similarly, planning and budgeting are very important in investment, because my plan and my ability will depend on it, but my investment. Planning does not only mean one thing, but how much money I will buy, but a complete plan means when I will buy, how to maintain continuity, as well as for how long I will keep this investment. When I have a specific plan about these, then I will be able to move forward accordingly and it will be easier for me to take subsequent decisions. Many people start investing without a plan and even after starting the investment, they do not plan properly, due to which their roadmap does not last long.

You are right about the importance of planning, but I think in the case of investment, you use it in such a way that you cannot start without a very detailed planning. The example of building a house does not fully match investment in bitcoin. Because in building a house, there is a lot of fixed structure, fixed cost, fixed sequence in advance. But Bitcoin accumulation is a much more dynamic matter. Here, income can change, expenses can change, discretionary income can decrease or increase, the market can move wildly. So it is not right to explain the planning of investing in Bitcoin with an example of planning for building a house.

In my opinion, there is a need to have a plan, but the main focus of that plan should be a workable system. For example:

discretionary income
DCA
back up funds
Long time mentality

These are more important, compared to trying to pre decide every little detail in advance. And when buying Bitcoin, only when you have a strong discretionary income.

Yes, a plan is necessary, but a better way is to have a simple and sustainable framework. A plan that can survive real life. Because there is no such thing as a perfect plan. Start with a small amount first and then make adjustments over time. Simply put, a plan is useful but only if it helps you keep accumulating Bitcoin. If the plan becomes so complicated that it cannot even be started, then that type of planning definitely needs correction. Because the more you delay, the more time you will waste and the more opportunities you will lose. By planning wasting time is foolishness.

[Muba20]

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

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

If one wants to invest after being completely prepared, then that investment will definitely be delayed. Sometimes it may not be possible for him to invest. There is no need for much preparation in investing in Bitcoin. If he has only basic knowledge, he can start investing. However, he should give importance to some things like whether he has a discretionary income or not. Whether he can maintain his investment in Bitcoin for the long term or not. If he has a discretionary income, then he can start his investment quickly and prepare himself completely through regular investment. Especially if he wants to gain more in-depth knowledge about Bitcoin, he can do that. Saving is definitely a long-term process. If someone has a saving attitude, then it is certainly not difficult for him to save. It is important to start quickly without delay in taking such a decision.

[alankasman]

Surprisingly I became aware of the emergency fund after joining the forum which has helped me a lot in terms of long term Bitcoin accumulation. I was involved in centralise investments but no one advised me about emergency funds. I was very aware of this issue from the beginning of Bitcoin accumulation so I can continuing DCA without any fear. An emergency can arise at any time or you may lose your job due to global reasons and you need to take care of your family until you find a new one. You can solve your personal and family problems without withdrawing your Bitcoin holdings through this fund. Some smart investors keep cash flow available with emergency funds to meet small scale emergencies.

You dare to do DCA because you have a strong grip meaning there is an emergency fund stored behind it so that it is easy to continue with purchases using the DCA method that is full of confidence and courage that you have but if it does not happen according to your expectations of course there are problems that must be resolved first. One example is the limited emergency funds that are not so much available but this courage will certainly not occur in terms of doing DCA with another reason being the limited funds available that are not a strong grip for you in terms of making Bitcoin purchases via DCA so that ownership will not be our grip for carrying out BTC accumulation for the long term.

[Popkon6]

Surprisingly I became aware of the emergency fund after joining the forum which has helped me a lot in terms of long term Bitcoin accumulation. I was involved in centralise investments but no one advised me about emergency funds. I was very aware of this issue from the beginning of Bitcoin accumulation so I can continuing DCA without any fear. An emergency can arise at any time or you may lose your job due to global reasons and you need to take care of your family until you find a new one. You can solve your personal and family problems without withdrawing your Bitcoin holdings through this fund. Some smart investors keep cash flow available with emergency funds to meet small scale emergencies.

You dare to do DCA because you have a strong grip meaning there is an emergency fund stored behind it so that it is easy to continue with purchases using the DCA method that is full of confidence and courage that you have but if it does not happen according to your expectations of course there are problems that must be resolved first. One example is the limited emergency funds that are not so much available but this courage will certainly not occur in terms of doing DCA with another reason being the limited funds available that are not a strong grip for you in terms of making Bitcoin purchases via DCA so that ownership will not be our grip for carrying out BTC accumulation for the long term.

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

[Futurexxx]

Surprisingly I became aware of the emergency fund after joining the forum which has helped me a lot in terms of long term Bitcoin accumulation. I was involved in centralise investments but no one advised me about emergency funds. I was very aware of this issue from the beginning of Bitcoin accumulation so I can continuing DCA without any fear. An emergency can arise at any time or you may lose your job due to global reasons and you need to take care of your family until you find a new one. You can solve your personal and family problems without withdrawing your Bitcoin holdings through this fund. Some smart investors keep cash flow available with emergency funds to meet small scale emergencies.

You dare to do DCA because you have a strong grip meaning there is an emergency fund stored behind it so that it is easy to continue with purchases using the DCA method that is full of confidence and courage that you have but if it does not happen according to your expectations of course there are problems that must be resolved first. One example is the limited emergency funds that are not so much available but this courage will certainly not occur in terms of doing DCA with another reason being the limited funds available that are not a strong grip for you in terms of making Bitcoin purchases via DCA so that ownership will not be our grip for carrying out BTC accumulation for the long term.

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

I think that the most important thing we should consider when accumulating Bitcoin through the dca accumulating strategy is our discretionary income.
Our dca accumulating method should stay within the confinement of it, and if you are just starting out, making provisions for your emergency and reserve funds through your discretionary income is a must, if not your Bitcoin investment wouldn't be able to survive for  long, because emergency and reserve funds are what help you to develop a strong holding hands against real life emergencies that may threatens your Bitcoin holdings.

So  if you can buy and accumulate Bitcoin only through your discretionary income, and is also diligent enough to make provisions for emergency and reserve funds through it, be rest assured that your bitcoin investment is safe from any real life emergencies.

[cyberninja2]

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

For another reason sometimes someone has invested heavily in an investment that is their primary choice when starting out. This isn't just about allocating an impressive amount whatever the amount the main thing is to ensure that finances are healthy. Therefore when investing impressively it will no longer be an excuse to invest in a category that is sufficiently under one's personal direction when finished.

Of course this is very appropriate because the higher a person's intention in throwing out the amount invested the easier it will be to get profits later but all of these things require a long process not just after doing it directly producing results and that is one of the thoughts that is not worth hearing or doing by someone who wants to start with a long-term goal in investing in Bitcoin for the next few years and most importantly the more DCA is done on the amount of Bitcoin the more profitable it will be for someone in an effort to achieve results in the next few years by that person.

[Rockstarguy]

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

For me, when it comes to an emergency fund, people should just do their best according to their capacity. Invest according to what you can afford, and one should be able to manage money well so that when one is in pressing need, you don't have to think or depend on your investments as an alternative source of getting money.

An emergency fund is important for an investor, as it covers unseen demands, but let's not make it seem as if one has to build an emergency fund first before going into an investment. Let's just hope and believe one doesn't get into a financial situation that will compel one to see one's investments as the last hope. When talking about an emergency fund, I think it should be the amount that can cover one emergency. Given our income and the amount we can afford for our expenses, one should be able to understand the amount needed for an emergency fund that can cover expenses during emergencies and prevent one from looking into investments as an option.

[slaman29]

For me, when it comes to an emergency fund, people should just do their best according to their capacity. Invest according to what you can afford, and one should be able to manage money well so that when one is in pressing need, you don't have to think or depend on your investments as an alternative source of getting money.

An emergency fund is important for an investor, as it covers unseen demands, but let's not make it seem as if one has to build an emergency fund first before going into an investment. <>

Exactly! I find it really a waste of discussion when someone brings something up like this which has nothing to do with investment and everything to do with financial management styles.

Emergency funds... some people have it, some people don't. I'm Asian and generally we all have this idea of having it as savings deep inside a bank that we never use until we're either in need of expensive health treatment or lost our job, something pure disaster. That's not considered an investment at all and it never comes into the picture when thinking usable capital.

[Taskford]

For me, when it comes to an emergency fund, people should just do their best according to their capacity. Invest according to what you can afford, and one should be able to manage money well so that when one is in pressing need, you don't have to think or depend on your investments as an alternative source of getting money.

An emergency fund is important for an investor, as it covers unseen demands, but let's not make it seem as if one has to build an emergency fund first before going into an investment. <>

Exactly! I find it really a waste of discussion when someone brings something up like this which has nothing to do with investment and everything to do with financial management styles.

Emergency funds... some people have it, some people don't. I'm Asian and generally we all have this idea of having it as savings deep inside a bank that we never use until we're either in need of expensive health treatment or lost our job, something pure disaster. That's not considered an investment at all and it never comes into the picture when thinking usable capital.

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

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

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

[Bigjoe33]

For me, when it comes to an emergency fund, people should just do their best according to their capacity. Invest according to what you can afford, and one should be able to manage money well so that when one is in pressing need, you don't have to think or depend on your investments as an alternative source of getting money.

An emergency fund is important for an investor, as it covers unseen demands, but let's not make it seem as if one has to build an emergency fund first before going into an investment. <>

Exactly! I find it really a waste of discussion when someone brings something up like this which has nothing to do with investment and everything to do with financial management styles.

Emergency funds... some people have it, some people don't. I'm Asian and generally we all have this idea of having it as savings deep inside a bank that we never use until we're either in need of expensive health treatment or lost our job, something pure disaster. That's not considered an investment at all and it never comes into the picture when thinking usable capital.

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

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

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

Some come into Bitcoin investment with an already existing emergency funds, either something built from there previous investments or other financial engagements, while some decides to keep fresh one as they go into there investment, while some build there emergency funds alongside there investment. Whichever way, the major point is that emergency funds is too important, and thus, should be built around your investment to sustain it. And secondly, in as much as emergency funds is too important, it shouldn't be the reason why an investor who has figured out his discretionary income shouldn't start his investment. Emergency funds can also be built while building your investment, and so, even though you don't any available emergency funds, an investor can begin his investment since he has been able to figure out what his discretionary income is, which is tye paramount thing, since he will still have to raise his emergency funds from the same discretionary income.

[Promocodeudo]

I think that the most important thing we should consider when accumulating Bitcoin through the dca accumulating strategy is our discretionary income.
Our dca accumulating method should stay within the confinement of it, and if you are just starting out, making provisions for your emergency and reserve funds through your discretionary income is a must, if not your Bitcoin investment wouldn't be able to survive for  long, because emergency and reserve funds are what help you to develop a strong holding hands against real life emergencies that may threatens your Bitcoin holdings.

So  if you can buy and accumulate Bitcoin only through your discretionary income, and is also diligent enough to make provisions for emergency and reserve funds through it, be rest assured that your bitcoin investment is safe from any real life emergencies.

For every Bitcoin investor, discreationary income is very important as you pointed it out, invetsors should figure it out to avoid making thighs uneasy on themselves, our DCA is bound to increase because we can have more source of income, and as an investor as soon as your income takes another level you're not supposed to be reminded that you need to increase your DCA, it means our discreationary income which is the source of our DCA increases automatically.
Yea emergency funds are to be raised to safeguard our investment, because Bitcoin investment without the emergency fund and reserve funds can be very disastrous because an investor can have an emergency at anything and once there's no funds intact to Carter for the emergency need, the investment becomes an option which ordinarily would've not been if emergency fund was to be available.

[Big Dirams]

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

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

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

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

[Showlove01]

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

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

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

[Abbatty]

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

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

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

Backup funds can either be the emergency funds or reserve funds depending on the context of the talk. Emergency funds is the money set aside after investing to help solve your unexpected financial crises while reserve funds is the money set aside after investing and having an emergency funds to help boost your investment and Also your emergency funds.

So back up funds can either be any of the two depending on the context of your conversation. Well there is no Better time to invest so you can just start right away, don’t wait till you have an emergency funds before investing in bitcoin.

[Joeboy]

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

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

Cossyblack is entirely right, and you are simply the one who is misunderstanding his very point when you sought to separate Backup funds from emergency funds.. Backup fund is much more like a broader term which comprises of your Emergency funds, Reserve fund and lastly Float... And so when anyone refers refers to emergency funds as backup fund like in the case of Cossyblack, they are not entirely wrong simply coz emergency fund is a specific type of backup which is of course set aside for unexpected/or emergency situations...

[Merit.s]

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

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

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

Back up funds comprises of

Emergency funds: This is the main backup funds to your bitcoin investment that will prevent you from selling your bitcoin when a real life emergency plays out during your bitcoin accumulation journey. It should be at least three months of your monthly expenses. Your emergency funds shouldn't be tampared with until, there's a real life emergency.

Reserve funds: is the funds that is set up after you have set up your emergency funds. Reserve funds is flexible than your emergency funds because you can use it to buy bitcoin at the dip, go out and eat in an expensive hotel. You can also use your reserve funds to take care of real life emergency before tapping from your emergency funds.

Floats: is the money you keep for unexpected expenses that you didn't plan for before you get paid again. For example, little requests from your kids or visitors

[Olatundespo]

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

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

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

You are probably misunderstanding. Backup fund and emergency fund are different terms but they convey almost the same meaning. During the period of long term Bitcoin accumulation, you may need money for an emergency. In this situation if you have a backup/emergency fund you can meet the emergency need through that fund without withdrawing your Bitcoin holdings.

If you have reserve funds available at that time and are sufficient to meet the emergency need, you can meet that emergency need through cash funds while keeping the backup fund intact. The idea is to use the available funds to meet the emergency need while maintaining your Bitcoin holdings whatever you call it.