JJG’s Outline of Bitcoin Investment Ideas

[Sobz]

I don’t understand what you are saying everyone that is investing in bitcoin is doing that in order to make profit. The only thing is that some set of people wants to make the profit in a short term why others wants to make the profit in the longer term, the major reason why everyone is investing in bitcoin is to make profit if you are using bitcoin at a store value for future gain it is still for profit making so when you are investing in bitcoin or when you plan to invest in bitcoin, you have profit making in your mind, if bitcoin does not give profit I’m not sure you will be investing in bitcoin so let’s be real when talking about bitcoin investment.
The first thing that enters everybody’s mind when they hear about bitcoin and when they want to invest into bitcoin is profit making and it’s financial freedom. If anyone has another reason please let’s hear it.

You should know that Bitcoin is a longtime investment and going for short term you may not hit your target because the market is unpredicted,  so it is just better to go for long-term because the chances of making a good result is high. Another reason why it is not best for investors to aim for short term investment because it can make one to expect profit so soon and when you expect profit in a given time and you dont get it as you wish it can make one to change your mind. Long-term is a mentality that makes investors to attain success in investment.

[Supreme Donvic]

invest without having to trouble themselves meaning that today the income they have, for example is 50%, of course the person will do it with 30% to accumulate Bitcoin while the remaining 20% ​​is only for needs that must be spent meaning that every time they accumulate the person must see how much income they have during the week and likewise sometimes they have more sources of income than what we mentioned earlier they must also do it in a way that does not make it difficult for someone to live their life

I think that it's absolutely wrong to be investing in Bitcoin like that because you are definitely going to run into trouble doing it that way. You have to take proper care of your basic needs first, then any money that is left, which is your discretionary income is what you should be investing with, not investing first before taking care of your basic needs with what is left. It's wrong and you will fall into trouble in no distance time,  which will compel you to sell off your holdings just to address some of your basic needs that was not addressed before investing, so it's more important to sort of your basic needs first, before thinking of investing with the discretionary income left.

Walking into investment without taking proper care of our basic needs and most important things then that investment journey will be so ruined because no matter the circumstances definitely the investor would surely ran back to their investment anytime they face little issues or any important things come up because they fail to handle them before investing.
 That why it always advisable to settle our needs before thinking of investing so we won’t ran to our investment anytime we face an emergency. Let settle our needs and set up a discretionary income to begin our journey of bitcoin investment for safe and sustainable investments.

Before you go into bitcoin investment you need to make sure that your daily needs won't be affected and that is why you need to use only your discretionary income, if you are using only your discretionary everything will be fine you won't be affected in any way but if you are not using your discretionary income but using money you are suppose to use for your up keep to investment in Bitcoin you will end up selling your Bitcoin at an early stage in other to raise money you can use for your up keep.
If you are investing into Bitcoin use only the money you can afford to lose which is your discretionary income don't use money that should be used for your daily expenses to invest in Bitcoin except you just want to lose your main capital when you will want to sell and settle your basic needs.

[Brizi5000]

 
People should set aside thier emergency funds before proceeding to an investment, that actually helps one to stay calm and avoid tempered thier bitcoin investment when things happen.

your statement here could be misleading newbies into believing and  thinking that they need to first start saving for emergency funds before they can start investing in bitcoin and you know that in a standard format, folks might be needing to have at least 3-6 months of their daily living expenses for the emergency funds which i believe not everyone could afford that for a start, even though there might be some rich folks that can comfortably do it. so does it mean that those who cannot afford it should wait until they have it before they can start accumulating and investing in  bitcoin even though they have their most important discretionary income ready. the emergency funds is important to our investment no doubts about it and its also necessary we build an emergency funds for our bitcoin investment to act as a shield for our investment when in an emergency situation so we dont have to sell our bitcoin whenever we encounter emergency situations to settle. but the idea is that folks shouldnt delay getting started in investing in bitcoin because they are trying to build an emergency funds first, not having the emergency funds ready shouldnt delay or stop them from accumulating bitcoin and hold, it is advisable they should get started immediately their discretionary income is ready and along the line while accumulating bitcoin they can be building their emergency funds even along side while buying and investing in bitcoin. if they decide to wait until they have their emergency funds ready it might take them years before they can build it and they might end up not even continuing bitcoin investment due to other things might comes up and even if they eventually start by then they might have missed out on several opportunities where they could have used to gradually accumulate some reasonable amount of bitcoin in their name and hold for long term purpose.

[New Judgement]

This is a very appropriate answer to be understood by all parties because every person or party who wants to start investing with a healthy mindset will certainly invest without having to trouble themselves meaning that today the income they have, for example is 50%, of course the person will do it with 30% to accumulate Bitcoin while the remaining 20% ​​is only for needs that must be spent.

You don’t allocate money to buy bitcoin without first figuring out how much will be your discretionary income. It is from your discretionary income that you will know how much that should be invested in bitcoin. Don’t make the mistake of investing in bitcoin without making provision of your basic family needs. If you rush and invest 30% of your salary and later you find out that your discretionary income isn’t up to that 30% you will have trouble meeting up with family demands. The right approach is always to invest from discretionary income.

[BluebloodCXVI]

People should set aside thier emergency funds before proceeding to an investment

It has been said countless times on this forum that you don’t need to wait to create emergency funds first before starting your investing, yet you seem to still be getting it confused. you’re wasting precious time that could have been put into upgrading yourself from being a no-coiner to a coiner.
It’s better to accumulate both emergency funds and discretionary income simultaneously but if you’re in the early stages of your accumulation phase then you should lean more towards building emergency funds more than investing, something like 60:40. Until you get to a comfortable level where you’re sure that your emergency fund has reached a reasonable amount, then you can flip the scale and lean more towards investing than building emergency funds, something like 70:30 or even 80:20.

[B-BossMan]

 
People should set aside thier emergency funds before proceeding to an investment, that actually helps one to stay calm and avoid tempered thier bitcoin investment when things happen.

your statement here could be misleading newbies into believing and  thinking that they need to first start saving for emergency funds before they can start investing in bitcoin and you know that in a standard format, folks might be needing to have at least 3-6 months of their daily living expenses for the emergency funds which i believe not everyone could afford that for a start, even though there might be some rich folks that can comfortably do it. so does it mean that those who cannot afford it should wait until they have it before they can start accumulating and investing in  bitcoin even though they have their most important discretionary income ready. the emergency funds is important to our investment no doubts about it and its also necessary we build an emergency funds for our bitcoin investment to act as a shield for our investment when in an emergency situation so we dont have to sell our bitcoin whenever we encounter emergency situations to settle. but the idea is that folks shouldnt delay getting started in investing in bitcoin because they are trying to build an emergency funds first, not having the emergency funds ready shouldnt delay or stop them from accumulating bitcoin and hold, it is advisable they should get started immediately their discretionary income is ready and along the line while accumulating bitcoin they can be building their emergency funds even along side while buying and investing in bitcoin. if they decide to wait until they have their emergency funds ready it might take them years before they can build it and they might end up not even continuing bitcoin investment due to other things might comes up and even if they eventually start by then they might have missed out on several opportunities where they could have used to gradually accumulate some reasonable amount of bitcoin in their name and hold for long term purpose.

It seems you don't really understood what discretionary income mean or you misunderstood everything explained, either you  aren't paying attention or you understand it differently, the ideas that someone must fully complete an emergency funds before investing was not actually the key passing message. However. The emphasis on the message was that if you ignored your basic needs and jump into Bitcoin investment without proper financial planning or settling done expenses, your investment becomes breakable or at higher risk. Because the moment an unexpected financial issues comes up, you will likely be forced to sell your Bitcoin investment to solve the financial issues. That's the real risk that was highlighted.

Also, about emergency funds, the ideas is just about having something set aside, even if it's small, so you aren't constantly dipping or touching your investment, so it's not about delaying Bitcoin investment completely,but it's about balancing your expenses, start small if you can and gradually build up your bitcoin holding and your emergency fund side by side.

[Sticky Bomb]

They still invest but they won't be too aggressive because there are still many other things to consider as unexpected things will always come without our knowledge. This is the goal of those with a regular income but still not investing aggressively as it is more about remembering what they will need in the future especially if an unexpected event occurs.

This is why it is important to have emergency funds built out alongside your investing into bitcoin. An investor who is yet to build his emergency fund to be at least 3 months worth of his expenses should still be putting a considerable percentage of his discretionary income to building it, let's say 30%. This emergency fund is responsible for tackling real life emergencies for the investor and protecting his investment from being tampered to solve emergencies.

A better aggressiveness can be achieved when the investor is done building out his emergency fund to the standard of 3 months worth of expenses, then he can channel the 30% into increasing his aggressiveness in buying bitcoin, until he has an emergency and makes use of his emergency fund and there becomes a need to build it back up.

[JayJuanGee]

[edited out]

Once an investor reaches the accumulation stage target and has already made some profits, they can start taking profits and use them for whatever they want.

Your describing bitcoin portfolio management as profit taking comes off as a trading framework and a trading mindset.

Someone who had reached overaccumulation status may well not be very concerned about the extent to which he is taking profits which might relate with how much he invested versus how much he is taking out, even though once he is withdrawing he may well be striving to make sure that he is not withdrawing too much in order that he would fall out of overaccumulation status.
 
If the guy had been buying $100 per week in the past 10 years since 2016, he would have had put $52k into bitcoin, and he would have had accumulated 11 bitcoin, so right now, it is possible for him to withdraw $66k per year or ($5.5k per month from his bitcoin), so he is not necessarily needing to concern himself with profits since he is taking more than 100% of the amount that he put in each year.  So instead he is likely just concerned about the amount he is withdrawing and its ability to continue to generate an income at the rate that he is withdrawing..

It doesn’t necessarily mean that someone has to keep accumulating before they can start making adjustments to their Bitcoin investment.

If your reach overaccumulation status you don't need to keep accumulating, as long as you don't withdrawal greater than the sustainable rate.

The important thing after reaching the target point is whether the investor is in profit. If the investor has made some profit, it is wise to start taking profits by selling part of their Bitcoin.

It is optional to start to sell, and there is no rush.. since if he chooses not to withdraw the bitcoin will keep growing and bitcoin remains a great place to keep money.   Sure there could be some desires to withdraw that can be either price based or time based, and so sometimes withdrawing based on price increases can allow for more ease of conscious if the price falls at a later date.. yet if a person gets to overaccumulation and is already withdrawing regularly, then there might not be any anxiety about being able to withdraw unless there are feelings that the withdraw amount is not enough.

If the person does not have an immediate use for the money, they can sell a portion of their Bitcoin investment, keep the money, and wait for a dip.I think it is a good idea to start setting targets once someone has reached their accumulation goal.

If a person is at overaccumulation status it is optional whether he wants to try to buy back some or all of his sales and get into trading mode.  It would not be necessary to accumulate more, yet sure guys can do what they like once they get to overaccumualtion status they will tend to have more options, yet guys could still end up knocking themselves out of overaccumualtion status if they end up selling too much or maybe even if they  are selling and then buying back and then getting worried that they don't have any money since they used it all to buy back when they did not need to buy back.. and so yeah, guys can still end up screwing up or mismanaging an otherwise good set up.

If a guy is in bitcoin for a few years and he is accumulating bitcoin quite aggressively, then there might be very rare occasions in which it would be justifiable for him to sell all of his bitcoin or even a large portion of his bitcoin.  There could be some justification to sell some portions of his bitcoin while still considering himself to be staying focused on investing rather than trading and to be considering himself to be "staying in his investment" rather than abandoning it.

It seems that way. If they invested in Bitcoin for approximately 10 years, it's likely some are selling their BTC in small amounts.
The reason might be to enjoy it, and they're also holding Bitcoin for retirement.

It's a success for those who have held Bitcoin for a long time because they weathered many bitter cycles, Fake news, and severe crashes, but they persevered and continued buying.

On the other hand, the advancement of the era with soaring demand for Bitcoin is encouraging early holders to Hold Bitcoin until they grow old. I plan to strengthen my confidence to hold on for longer, just as early investors did in years past.

Sometimes a person could be at a point that they are getting close to overaccumulation status but had not quite made it to that level, so if they are selling small amounts, they might not interfere (or delay too much) their reaching overaccumulation status, yet sometimes they might be better off to wait (hold) and not sell much if any until more time passes.  So for example if the guy I mentioned above had ONLY contributed $50 per week rather than $100 per week in the past 10 years, then he would have had ONLY accumulated 5.5 BTC rather than 11 BTC, and so currently, that would only support around $33k per year income rather than a $66k per year income.  So if he would prefer to generate a $66k per year income from his 5.5 BTC he may well need to wait until the 200-WMA reaches at least $120k, which might take another 3 years or so, and if he dips into his bitcoin then it may well take longer to be able to generate that level of income... so there can be a balance in how much bitcoin he had accumulated and how much income he would like to generate from it..and the exact numbers might not be known in advance, even though we are able to make reasonable ballpark estimates to help us to reach our goals without sabotaging our progress too much along the way.

[Emjay24]

 People should set aside thier emergency funds before proceeding to an investment, that actually helps one to stay calm and avoid tempered thier bitcoin investment when things happen.

This is not necessarily a requirement to start, an investor can start buying bitcoin as soon as he has discretionary income, he can always build out his emergency fund alongside his buying and holding bitcoin, this is possible because an investor can always divide his discretionary income into a 50:30:20 ratio and if such an investor has $100 discretionary income, he can put $50 into buying bitcoin, $30 into building his backup funds(which includes emergency fund) and $20 for discretionary consumption. In this way he doesn't have to delay his investing into bitcoin because of building his emergency fund, and at the same time he is not neglecting the importance of building it as he does it at the same time he is investing into bitcoin, which is a better practice than delaying your investment journey unnecessarily.

[Cgrexp]

 People should set aside thier emergency funds before proceeding to an investment, that actually helps one to stay calm and avoid tempered thier bitcoin investment when things happen.

This is not necessarily a requirement to start, an investor can start buying bitcoin as soon as he has discretionary income, he can always build out his emergency fund alongside his buying and holding bitcoin, this is possible because an investor can always divide his discretionary income into a 50:30:20 ratio and if such an investor has $100 discretionary income, he can put $50 into buying bitcoin, $30 into building his backup funds(which includes emergency fund) and $20 for discretionary consumption. In this way he doesn't have to delay his investing into bitcoin because of building his emergency fund, and at the same time he is not neglecting the importance of building it as he does it at the same time he is investing into bitcoin, which is a better practice than delaying your investment journey unnecessarily.

The amount we want to invest in Bitcoin should be an amount that we can afford to lose. We can use our discretionary income in three ways: investing, saving, or using it discretionarily. Each of us chooses how much of our discretionary income we are ready and willing to invest. You are right, 50 percent of our discretionary income can be applied to investments. This is neither too aggressive nor too small an amount. That is, if someone's discretionary income is $100, then they can allocate $50 to investments. And from the rest, $30 can be put into an emergency fund and $20 can be kept as a backup or savings. An emergency fund can be built up along with the investment. there are some people who invest too recklessly or too aggressively. However, hopefully they are determining in their own personal preferences how much priority they are giving to Bitcoin and how much of their discretionary funds they are willing to invest in Bitcoin. These are personal choices.

[Father111]

You're right because there's no real and serious Bitcoin investment that places more priority on profit than reaching his his target except for those that are traders, traders are known for their profit hunting, that's what they try to do whatever analysis that I don't know for the purpose of their unrealistic goals and anyone that sounds in such manner should be consider himself as a trader.
It gets to me badly when I hear people talking about profit as if they have been investing and accumulating Bitcoin for a very long time, do we even need to tamper out Bitcoin as invetsors, some people think that one they make profit, the next thing is to withdraw it, if so, what is the purpose of calling oneself a real long-term investment.

Investors that their major concern is to make profit from Bitcoin investment are not good hodlers.  They may not have specific time of when to take profit from their investment but because of the essence why they are investing is to make profit.  Investing to make profit from Bitcoin is not bad  but it is good for investors to know their is more to just make profit  im Bitcoin investment. Bitcoin investment is also a store value that people can invest for the future. If you understand the value of Bitcoin and where the price of Bitcoin is heading to, making profit will be the least thing to think about but to invest and hodl Bitcoin.

Thinking of profit making in Bitcoin is not bad and it doesn't also disqualified any investors of being a good hodler in Bitcoin, i don't like pretending on what is true, every investors can't engage themselves into any investment that will not be profitable to them, i don't see anything wrong of thinking about the profit you are going to make through out years of investing in Bitcoin continueosly, the only thing i see is bad as a newbie, is when a newbie make use of short term investment instead of a long term investment, and talking about a bad hodler, is when a newbie make use of a short term investment that is when he is not a good Bitcoin hodler, not the other way round, that Investors that their major concern is to make profit from Bitcoin investment are not good hodlers, like you said @ Sobz link.

[WIYO1]

It is optional to start to sell, and there is no rush.. since if he chooses not to withdraw the bitcoin will keep growing and bitcoin remains a great place to keep money.   Sure there could be some desires to withdraw that can be either price based or time based, and so sometimes withdrawing based on price increases can allow for more ease of conscious if the price falls at a later date.. yet if a person gets to overaccumulation and is already withdrawing regularly, then there might not be any anxiety about being able to withdraw unless there are feelings that the withdraw amount is not enough.

Many long-term holders will agree with you about taking their time when it comes time to sell - for instance, if they feel that they have enough Bitcoin in order to have a good amount accruing interest, but other investors may want to sell at different points in time dependent on their current price or personal preference. Additionally, making regular withdrawals will reduce the amount of psychological issues around Bitcoin.

To have a successful experience with trading or investing, a trader must have a well-defined strategy to avoid being emotionally influenced to buy/sell at inconvenient times and create additional cycles of buying/selling.

If a person is at overaccumulation status it is optional whether he wants to try to buy back some or all of his sales and get into trading mode.  It would not be necessary to accumulate more, yet sure guys can do what they like once they get to overaccumualtion status they will tend to have more options, yet guys could still end up knocking themselves out of overaccumualtion status if they end up selling too much or maybe even if they  are selling and then buying back and then getting worried that they don't have any money since they used it all to buy back when they did not need to buy back.. and so yeah, guys can still end up screwing up or mismanaging an otherwise good set up.

Individuals reach the overaccumulation phase when they gain some flexibility, but they also have added responsibilities. Decisions can be made to either continue holding or to liquidate and/or trade the position, but if an investor over-manages a position, they are likely to make mistakes in the process of managing the position. Therefore, if an investor sells too much of a position or is fearful of not being in the position and keeps buying back when out of the position, they are reducing the amount of their position and also stressing out. Finding balance between having a good plan that is free of emotion and not overtrading will help to maintain proper setups and allow for continued performance without confusion or loss of expected results.

[Merit.s]

Thinking of profit making in Bitcoin is not bad and it doesn't also disqualified any investors of being a good hodler in Bitcoin, i don't like pretending on what is true, every investors can't engage themselves into any investment that will not be profitable to them, i don't see anything wrong of thinking about the profit you are going to make through out years of investing in Bitcoin continueosly, the only thing i see is bad as a newbie, is when a newbie make use of short term investment instead of a long term investment, and talking about a bad hodler, is when a newbie make use of a short term investment that is when he is not a good Bitcoin hodler, not the other way round, that Investors that their major concern is to make profit from Bitcoin investment are not good hodlers, like you said @ Sobz link.

Your profit is in your bitcoin portfolio untouched if you don't sell any of your bitcoin so why getting worried over it or thinking too much about your profits when you're supposed to stay focused in building and growing your bitcoin investment by DCAing consistent and persistent overtime till you reach your bitcoin target.

No need of stressing yourself that much and start thinking about what wouldn't add any value to your bitcoin portfolio or that can lead you to start making wrong decisions. Too much focus on your bitcoin portfolio can make you lose focus on ongoingly buying bitcoin because you might be tempted to take some profit and if you fall for it, before you know it you will start taking profits and turn into a trader because the next thing is that, you will start planning to buy low and sell high.

There's time for everything, during your accumulation stage forget about profit and be focused on reaching your bitcoin target first.

[Derekfunds]

This is a very appropriate answer to be understood by all parties because every person or party who wants to start investing with a healthy mindset will certainly invest without having to trouble themselves meaning that today the income they have, for example is 50%, of course the person will do it with 30% to accumulate Bitcoin while the remaining 20% ​​is only for needs that must be spent.

You don’t allocate money to buy bitcoin without first figuring out how much will be your discretionary income. It is from your discretionary income that you will know how much that should be invested in bitcoin. Don’t make the mistake of investing in bitcoin without making provision of your basic family needs. If you rush and invest 30% of your salary and later you find out that your discretionary income isn’t up to that 30% you will have trouble meeting up with family demands. The right approach is always to invest from discretionary income.

It is even impossible to buy Bitcoin without sorting out money to be use in doing that. Before any investment or purchase is been made or done an investor should be able to sort out everything necessary to help their investment grow without pressure. Investing in Bitcoin without first sorting out expenses is lack of knowledge and also trading mentality on the contrary because someone who understands how Bitcoin investment works will never use their expenses funds to accumulate or purchase Bitcoin because they already knew about the volatility of Bitcoin.

[Bright0515]

That is, if someone's discretionary income is $100, then they can allocate $50 to investments. And from the rest, $30 can be put into an emergency fund and $20 can be kept as a backup or savings.

From the bold part of your comment it's obvious that you misunderstood what discretionary income means, well discretionary income is your spare money after sorting out your necessary bills and saving including emergency funds. For instance you earn $500 a month, from that $500 your survival (feeding) and other bills including savings or emergency savings, rent and other necessary bills are involved in it. But after sorting out all this expenses only $100 remain in your account, now that remaining balance of $100 is your discretionary income which is your spare money that you can use for flexing or investment. Saving doesn't come from discretionary income because it's mandatory for anyone with a common sense to have savings (emergency savings). From.the bold part of your comment seems to feel like emergency savings should come from your discretionary income meanwhile your discretionary income which is also known as your leftover money or leftover money which can be used either for flexing, investment or something else which you feel like doing but not unnecessary.

An emergency fund can be built up along with the investment.

That's right, waiting to build up emergency funds before starting Bitcoin investment is a total waste of time, what's more important is starting as soon as possible. Emergency funds can be built while investing (if you don't have any savings for emergency).

[Queen uloma]

I don’t understand what you are saying everyone that is investing in bitcoin is doing that in order to make profit. The only thing is that some set of people wants to make the profit in a short term why others wants to make the profit in the longer term, the major reason why everyone is investing in bitcoin is to make profit if you are using bitcoin at a store value for future gain it is still for profit making so when you are investing in bitcoin or when you plan to invest in bitcoin, you have profit making in your mind, if bitcoin does not give profit I’m not sure you will be investing in bitcoin so let’s be real when talking about bitcoin investment.
The first thing that enters everybody’s mind when they hear about bitcoin and when they want to invest into bitcoin is profit making and it’s financial freedom. If anyone has another reason please let’s hear it.

You should know that Bitcoin is a longtime investment and going for short term you may not hit your target because the market is unpredicted,  so it is just better to go for long-term because the chances of making a good result is high. Another reason why it is not best for investors to aim for short term investment because it can make one to expect profit so soon and when you expect profit in a given time and you dont get it as you wish it can make one to change your mind. Long-term is a mentality that makes investors to attain success in investment.

You are very correct going into short term investment you maybe disappointed because bitcoin market is unpredictable, it can go up today then drop tomorrow, if you don’t have strong mind, you may end up selling because of fear. This is the major problem that people complain about, reason being that majority doesn’t have clear understanding of what they’re really investing on(lack of knowledge) While most people are not patient enough because long-term investment needs patience and strong mind. The main thing isn’t even about investing on long-term or short-term investments, it’s about mindset and discipline. Anyone that does not have control even long term is not even safe for them to invest.

[NewRevelation]

That is, if someone's discretionary income is $100, then they can allocate $50 to investments. And from the rest, $30 can be put into an emergency fund and $20 can be kept as a backup or savings.

From the bold part of your comment it's obvious that you misunderstood what discretionary income means, well discretionary income is your spare money after sorting out your necessary bills and saving including emergency funds. For instance you earn $500 a month, from that $500 your survival (feeding) and other bills including savings or emergency savings, rent and other necessary bills are involved in it. But after sorting out all this expenses only $100 remain in your account, now that remaining balance of $100 is your discretionary income which is your spare money that you can use for flexing or investment. Saving doesn't come from discretionary income because it's mandatory for anyone with a common sense to have savings (emergency savings). From.the bold part of your comment seems to feel like emergency savings should come from your discretionary income meanwhile your discretionary income which is also known as your leftover money or leftover money which can be used either for flexing, investment or something else which you feel like doing but not unnecessary.

[. Emergency funds can be built while investing (if you don't have any savings for emergency).

You are getting everything mixed up here Bright0515. Your discretionary income is not only used for investment or flexing as you stated or thought, your discretionary income is what you use for investment, and is also from it you build your emergency funds and other back up funds. So it's wrong to think that saving or building up your emergency funds from you discretionary is bad. If you don't create your emergency funds from your discretionary, where else will it come from?, From your main income??, Seems that you thought judging from your response bove. That's a very wrong way of savings or building up emergency funds. After settling your basic needs, the left over money whish is your discretionary is what you use to invest and build other back up funds as needed for your investment sustainability MD your personal discretionary needs too.

[New Judgement]

 People should set aside thier emergency funds before proceeding to an investment, that actually helps one to stay calm and avoid tempered thier bitcoin investment when things happen.

The right approach is to get started and gradually build up your emergency funds and not the other way around. You can’t use the money you are expected to start up your investment journey for emergency funds. What are you protecting when you have no investment? That you don’t have emergency fund readily stacked up shouldn’t prevent you from investing. Having bitcoin in your possession is the main goal. You can’t use either build up your emergency funds after few months into your accumulation journey or if you’re buoyant enough you can do it sideways with your investment. But the idea of saving up emergency funds before investing is not the right approach.

[Z_MBFM]

 People should set aside thier emergency funds before proceeding to an investment, that actually helps one to stay calm and avoid tempered thier bitcoin investment when things happen.

The right approach is to get started and gradually build up your emergency funds and not the other way around. You can’t use the money you are expected to start up your investment journey for emergency funds. What are you protecting when you have no investment? That you don’t have emergency fund readily stacked up shouldn’t prevent you from investing. Having bitcoin in your possession is the main goal. You can’t use either build up your emergency funds after few months into your accumulation journey or if you’re buoyant enough you can do it sideways with your investment. But the idea of saving up emergency funds before investing is not the right approach.

Emergency fund is needed as a financial backup in case of sudden illness or sudden urgent work. In addition, every person needs money for daily expenses. Investing in Bitcoin is very profitable, but investment requires capacity. There are still many countries where people's income is very low, which is not enough to run their families, how can they invest in Bitcoin? To invest, first of all, you have to learn money management, in the same country, someone can easily manage their life by earning $200 and saving on the side, while someone can't meet their expenses even by earning $500. This is the effect of unnecessary expenses. So if you can do money management, everyone can easily invest in Bitcoin because Bitcoin investment does not require a large amount of money, any amount can be invested and DCA always help for small investors to grow there investment portfolio

[Joeboy]

Thinking of profit making in Bitcoin is not bad and it doesn't also disqualified any investors of being a good hodler in Bitcoin, i don't like pretending on what is true, every investors can't engage themselves into any investment that will not be profitable to them, i don't see anything wrong of thinking about the profit you are going to make through out years of investing in Bitcoin continueosly, the only thing i see is bad as a newbie, is when a newbie make use of short term investment instead of a long term investment, and talking about a bad hodler, is when a newbie make use of a short term investment that is when he is not a good Bitcoin hodler, not the other way round, that Investors that their major concern is to make profit from Bitcoin investment are not good hodlers, like you said @ Sobz link.

Surely everyone are free to adopt whatever mentality whilst investing no one will force them against it... But the problem about a profit- focused mentality whilst in your investment process is that such a mentality can gradually turn you into a trader and that's coz all your mind will start focusing on timing the market to know the most profitable  time to make your buys or to know whether you are in profit or you are not... And supposedly there was a short-term appreciation in your Bitcoin HODLing, a profit-based mentality could very well make you begin to start taking profit too early when you haven't even gotten to your investment timeline...And so anyone who operates with a profit-based mentality mostly depletes their portfolio in the hopes getting a substantial amount of profit right before reaching their over-accumulation phase... And that's majorly the reason why thoughts of profit should only come after reaching your over-accumulation status..