JJG’s Outline of Bitcoin Investment Ideas

[Qhunman]

For sure having a steady income helps in making your Bitcoin journey easy but then we have see certain people who have income and still struggled in these journey because most of the lack discipline, most of them lack management and they end up struggling in their bitcoin investment.

Discipline plays a big role too, likewise patience. They just don’t help you in Bitcoin investment but in all aspects of life, that why I would say Bitcoin investment is a way of life.

These things helps you a lot, at the end we invest in bitcoin to help have a good future, to makes plans for our future.

Having a steady income is good but having a steady discretionary income is much better because it is discretionary income that we need to invest in bitcoin weekly or monthly. having a steady income isn't a prerequisite to invest in bitcoin but  discretionary income because they are people who have steady incomes but don't have discretionary income to invest.  Steady income isn't a prerequisite for us to get started but discretionary income.. As long as we can figure out discretionary income from our income we wouldn't struggle with our bitcoin investment.

[Queen uloma]

Yes, your first task is to ensure you have a steady and stable income.

I understand your point clearly but I guess you saying it like this looks more like you are trying to convince beginners to ensure that they have stable income before they start buying Bitcoin.
However, based on my little knowledge, I believe that all you need is your discretionary income, having multiple income only helps you to increase the amount you are DCA'ing with or buy Bitcoin aggressively if you have spare an unexpected money or excessive funds which you won't be needing till the next 3 - 4 years time.
To be honest, everything can not just be perfect. Well my point is that if you wait till you get everything sorted out, you might end up waiting forever without buying any Bitcoin because most times things doesn't work the way we expect them to be. So what's why it's important to start immediately you have spare money to buy Bitcoin.
Actually it is very important to learn and develop the mindset of investment early so that you will achieve your targets earlier as well. Although no time is late but the perfect time to start investing into Bitcoin is when you have the spare money to buy it (no matter how little it is).
Honestly, with the bold part of your comment I think it can discourage beginners with low source of income to start buying Bitcoin, as you already stated that they should ensure that they have stable income.

From your statement I don’t think you really understand what nara1892 is talking about, literally you’re not investing in Bitcoin with your stable income, but first of all you have to be consistent with investing in Bitcoin, don’t you think that you need a stable income, we all know that we are investing in Bitcoin with a discretionary income, and you get your discretionary income from your source of income, consistency in bitcoin accumulation is very important, assuming that you don’t have a stable income how do you remain consistent, from my knowledge and experience of investing in Bitcoin so far, I have been able to remain consistent with a stable income and having a discretionary income, there was a point when I didn’t have a stable income and I was struggling to have a discretionary income so I couldn’t accumulate bitcoin for quite a number of months, so I believe that is also very important in the journey of bitcoin accumulation.

I don't know, but thank you, my friend, for helping me explain my opinion above more specifically, and that's exactly what I meant.
Rationally, how can we possibly start and maintain our accumulation over the long term if, for example, we don't have a steady and stable income? Of course, and from what I've learned, the key to success with the DCA method is consistency, meaning maintaining a plan to allocate money until our investment plan reaches its target.

Furthermore, one of the reasons I prepare so much, especially financially, such as an emergency fund, adding part-time work like a side hustle or anything else that generates income, is to strengthen the foundation of my accumulation plan.

Honestly, there is absolutely no intention to make lower-middle class people with less than good income feel unworthy to be involved in Bitcoin accumulation, I only learned from my own experience that previously (if I'm not mistaken in 2023) I was forced to sell my Bitcoin assets due to urgent needs, I still remember at that time I started buying at a price of $ 25k and I sold it at a price of $ 37k and not long after that (less than 4 months) Bitcoin skyrocketed to a price of $ 62k, yep that's 2x the price of my sale.

Nara is not saying a beginner must wait for everything to be perfect before starting. The point is about sustainability, not delay. Yes, someone can start with any small discretionary income, no argument there. But consistency is what actually builds results, and that’s where stable income matters. If he starts without any reliable cash low, he might buy today and then stop for months when money gets tight and that breaks the whole idea of steady accumulation.

 But that doesn't  change the fact that someone with a small discretionary income can't  buy Bitcoin steady. He can still buy steadily. The size doesn’t matter as much as the consistency. The real point is consistency is easier to maintain when an investor income is stable. If his income is irregular, even that small amount might not always be available, and that’s where gaps start to happens.

You have said it all, the strongest factor in long term bitcoin accumulation is  not all about how big you invest, it is about how financially stable you’re. But A person can earn big money and still fail to buy consistently the reason might be because of Poor spending lifestyle. While another person can earn small money and still remain disciplined to invest little by little every month or every weeks. What really matter is your mind set and consistency not really how much you invest. I’m not saying that money isn’t important it’s but mindset and consistency matters most.
When you are investing, make sure that you don’t pressure yourself never you enter investment that will affect your peace of mind, your bills or your feeling, always remember that bitcoin accumulation isn’t something that will affect your life.

[Barikui1]

Having a steady income is good but having a steady discretionary income is much better because it is discretionary income that we need to invest in bitcoin weekly or monthly.

Most Bitcoin investors fails to understand that discretionary income is more important than a stable income, because having a stable income still doesn't guarantees that you can figure out your discretionary income to invest with, so in as much as a stable income is very good, it's more better to have a discretionary income constantly, so that you can invest in Bitcoin consistently.

, the strongest factor in long term bitcoin accumulation is  not all about how big you invest, it is about how financially stable you’re. 

I think that you are wrong with this statement here, I believe that the most important thing in long term accumulation is your consistency in your accumulation, not being financially stable as you are saying.

[New Judgement]

I can see both of you are making Valid points, both has it advantages and also disadvantages, well I guess we will wait for JJG to clarify which is best. I’m a newbie who is looking into investment. Though no capital yet but I could get a loan, so I don’t want to make mistake in investing. Please any other user with a more valid points could also tag me. Thank you.

As a newbie never make any attempt on taking loan to invest in bitcoin regardless of your financial situations, the truth is that understand the nature of Bitcoin that its volatile in nature,and no one can predict accurately the exact price of bitcoin. So bitcoin price goes up and comes down.

Taking a loan to invest has nothing to do with an investor being a newbie or not. My take on this is that you don’t take a loan to invest when you don’t have a clear laid down plan of repaying the loan outside of your bitcoin investment. Provided an investor have a clear laid down plan of repaying his loan without depending on the bitcoin he is buying with the loaned money, he can take a loan and buy bitcoin, and pay his loan when due whether the investor is a newbie or not.

Okay, for example now, if you actually take the loan and invest successfully into bitcoin, suddenly the bitcoin price drops, definitely you are still owed the loan fully with intrest, so the most annoying part of is, even though your bitcoin is worthless you can never pause the loan payment, because loans actually have thier own fixed payments date and intrest and you must repaay regardless, if your bitcoin dips down and the payment is due, you must have to sell at loss since you don't have any options than that. Using loan seems like a gambling also, because you will be hopping for the price to shut up to cover up your loan and Intrest.

This will only happen when you rely on the bitcoin to repay your loan, but when you have other means of repaying your loan (which is the right thing to do) you won’t find yourself in the situation you just painted above. If an investor must take a loan to invest in bitcoin, they have to have other plans of repaying the loan without depending on their bitcoin for the loan repayment.

[alankasman]

Most Bitcoin investors fails to understand that discretionary income is more important than a stable income, because having a stable income still doesn't guarantees that you can figure out your discretionary income to invest with, so in as much as a stable income is very good, it's more better to have a discretionary income constantly, so that you can invest in Bitcoin consistently.

These two issues often arise among those just starting out in Bitcoin investing. Many beginners misunderstand that discretionary income is more important than fixed income leading to problems for beginners leading to frequent failures in Bitcoin investing.

Sometimes this understanding needs to be fully grasped by those who lack a clear understanding of the concept so they can invest consistently and avoid mistakes that could lead to long-term investment success. However this is difficult for those just starting out because they still feel quite aggressive and when they want to invest passionately without any shortcoming compared to those who already truly understand sustainable investing. This is why they often fail in their efforts without fully understanding the difference between discretionary and fixed income.

[Abelly]

I already responded to these ideas of loans, and I said that loans are more advance techniques, so one of the main ways of getting started investing in bitcoin tends to involve investing within your discretionary funds and to build up your back up funds and it does not involve loans.. .especially in the beginning.

Loans can be used to buy bitcoin and/or to shore up cashflow matters, even though there are needs to calculate the various costs of the loans and to have an ability (or even various abilities) to pay them back even if the bitcoin prices go down after using the loan money to buy bitcoin (and/or to shore up cashflows).

So there is a need to have source money from other places besides bitcoin proceeds, otherwise taking a loan would be gambling rather than investing, and I don't recommend gambling in regards to bitcoin.

By the way, if you have gambler in your name, you might not even know what investing is, so hopefully you are chiming into this thread to talk about investing rather than trading and/or gambling.

Investing in Bitcoin should start with your own excess or risk taking capital. Investing with debt can theoretically be profitable, but in practice it greatly increases the level of risk, Especially in highly volatile assets like Bitcoin. Investing in Bitcoin should start with your own excess or risk-taking capital. Investing with debt can theoretically be profitable, but in practice it greatly increases the level of risk, Especially in highly volatile assets like Bitcoin. Therefore, without an alternative source of stable income and strong risk management, debt based investments can easily lead to financial stress, new investors and long term holding strategies are much more realistic and sustainable than debt based entry.

[Grease5000]

For sure having a steady income helps in making your Bitcoin journey easy but then we have see certain people who have income and still struggled in these journey because most of the lack discipline, most of them lack management and they end up struggling in their bitcoin investment.

Discipline plays a big role too, likewise patience. They just don’t help you in Bitcoin investment but in all aspects of life, that why I would say Bitcoin investment is a way of life.

These things helps you a lot, at the end we invest in bitcoin to help have a good future, to makes plans for our future.

Having a steady income is good but having a steady discretionary income is much better because it is discretionary income that we need to invest in bitcoin weekly or monthly. having a steady income isn't a prerequisite to invest in bitcoin but  discretionary income because they are people who have steady incomes but don't have discretionary income to invest.  Steady income isn't a prerequisite for us to get started but discretionary income.. As long as we can figure out discretionary income from our income we wouldn't struggle with our bitcoin investment.

I agree with you. I’ve seen people with good income still struggle, and it usually come down to discipline. For me, consistency, patience and discipline are everything. I don’t focus on how much I’m putting in, I focus more  on showing up regularly and sticking to my plan by making sure I create a discretionary income from whatever I get from wage and business  because I noticed that even small amounts add up when I stay consistent.

If I’m not disciplined, I’ll either skip buying or start reacting to the market, and that’s where things go wrong. But when I stay patient and consistent, the process becomes simple and less stressful. I That discipline, patience and consistency are part of what really builds results over time, not just income.

[Baki202]

Investing in Bitcoin should start with your own excess or risk taking capital. Investing with debt can theoretically be profitable, but in practice it greatly increases the level of risk, Especially in highly volatile assets like Bitcoin. Investing in Bitcoin should start with your own excess or risk-taking capital. Investing with debt can theoretically be profitable, but in practice it greatly increases the level of risk, Especially in highly volatile assets like Bitcoin. Therefore, without an alternative source of stable income and strong risk management, debt based investments can easily lead to financial stress, new investors and long term holding strategies are much more realistic and sustainable than debt based entry.

Investing don't even have much risk compare to when you want to when you want to trade the difference in risk is what most people don't know and there is no much risk management when you are doing just investment and the risk are not comparable and when you invest with money borrowed you have just made everything become 50/50 chances because if the price does not go up then you become stuck because no profit yet and the capital is already dipping so from the beginning you need to be prepared before you even start investing if you are taking a loan then come up with a different plan of paying without selling.

There are different ways that this thing works you need to be ready before jumping into conclusions before that just know exactly what you are doing so that you don't put your self in much problems and if you know taking loan will be a burden then just invest what you know you can afford using DCA no long stories just means that you are taking things seriously with a visible plan. That is how a man with vision will behave.

[Jostern]

Yes, your first task is to ensure you have a steady and stable income. However, this doesn't mean you can immediately start investing once you have it. The point is, first check to see if you have any income left over after you've covered all your monthly living expenses. If there isn't, I don't think you should force it.

You don't have to have steady/stable income in order to start to invest in bitcoin.

However, it may be better to have some form of steady/stable income in order to project abilities to pay expenses into the future, which can be a concern if we are deciding to put some money into bitcoin and also that when we buy bitcoin we are locking that money up for 4-10 years or longer so there likely are some needs to have some expectations of future income even though steady/stable income is not necessary to get started buying bitcoin.

Personally I don’t think you need a stable source of income to get started with bitcoin investment, considering that you have a discretionary income you can get started as little as it is, when I started investing in bitcoin 4 years ago I didn’t have a stable source of income, but I was doing some little jobs and still I got started with my bitcoin investment and I wasn’t very consistent only when I had a discretionary income I was able to buy and accumulate bitcoin.

However when I started having stable source of income, it gave me an edge to have the abilities to take care of my expenses and my bills more efficiently, which also it gave me that opportunity to have more stable ability and remain consistent in buying and accumulating my bitcoin, it was a kind of different when I didn’t have a stable source of income, I was accumulating but was still struggling to have a discretionary income to buy bitcoin, so everything was different with being comfortable to accumulate and pay my expenses when I had a stable/steady source of income.

[Abbatty]

Yes, your first task is to ensure you have a steady and stable income. However, this doesn't mean you can immediately start investing once you have it. The point is, first check to see if you have any income left over after you've covered all your monthly living expenses. If there isn't, I don't think you should force it.

You don't have to have steady/stable income in order to start to invest in bitcoin.

However, it may be better to have some form of steady/stable income in order to project abilities to pay expenses into the future, which can be a concern if we are deciding to put some money into bitcoin and also that when we buy bitcoin we are locking that money up for 4-10 years or longer so there likely are some needs to have some expectations of future income even though steady/stable income is not necessary to get started buying bitcoin.

Personally I don’t think you need a stable source of income to get started with bitcoin investment, considering that you have a discretionary income you can get started as little as it is, when I started investing in bitcoin 4 years ago I didn’t have a stable source of income, but I was doing some little jobs and still I got started with my bitcoin investment and I wasn’t very consistent only when I had a discretionary income I was able to buy and accumulate bitcoin.

However when I started having stable source of income, it gave me an edge to have the abilities to take care of my expenses and my bills more efficiently, which also it gave me that opportunity to have more stable ability and remain consistent in buying and accumulating my bitcoin, it was a kind of different when I didn’t have a stable source of income, I was accumulating but was still struggling to have a discretionary income to buy bitcoin, so everything was different with being comfortable to accumulate and pay my expenses when I had a stable/steady source of income.

Speaking about your early bitcoin journey, I didn’t know how you managed to cope with your investment and not having a steady income, it not that it not possible but it very hard and most Bitcoin investment failure are because they lack steady income.

Discretionary income is suppose to come in after getting your needs done right? So how can you have a discretionary income when your income is not steady. Needs are like problems, they keeps pilling up when not solved.

Not having a steady income will only make you journey hard and frustrating but it possible to start. For newbies I strongly advise you get a steady income but start as soon as possible because there is never a good time to start investing rather than starting as soon as you can.

[sotelorene]

I already responded to these ideas of loans, and I said that loans are more advance techniques, so one of the main ways of getting started investing in bitcoin tends to involve investing within your discretionary funds and to build up your back up funds and it does not involve loans.. .especially in the beginning.

Loans can be used to buy bitcoin and/or to shore up cashflow matters, even though there are needs to calculate the various costs of the loans and to have an ability (or even various abilities) to pay them back even if the bitcoin prices go down after using the loan money to buy bitcoin (and/or to shore up cashflows).

So there is a need to have source money from other places besides bitcoin proceeds, otherwise taking a loan would be gambling rather than investing, and I don't recommend gambling in regards to bitcoin.

By the way, if you have gambler in your name, you might not even know what investing is, so hopefully you are chiming into this thread to talk about investing rather than trading and/or gambling.

Investing in Bitcoin should start with your own excess or risk taking capital. Investing with debt can theoretically be profitable, but in practice it greatly increases the level of risk, Especially in highly volatile assets like Bitcoin. Investing in Bitcoin should start with your own excess or risk-taking capital. Investing with debt can theoretically be profitable, but in practice it greatly increases the level of risk, Especially in highly volatile assets like Bitcoin. Therefore, without an alternative source of stable income and strong risk management, debt based investments can easily lead to financial stress, new investors and long term holding strategies are much more realistic and sustainable than debt based entry.

You seems to be repeating same sentence but for your information, stop using term that will confuse someone I mean you could get yourself confused too. I don't know why you are using the term " risk taking capital" and what do you even mean by that? The money needed to start or to invest in Bitcoin is discretionary income and sometimes the reason why some folks make mistakes is because of the terminology been used to pass Information because it can be misinterpret if not properly placed and I will advise simple term for newbie sake.

[Promocodeudo]

For sure having a steady income helps in making your Bitcoin journey easy but then we have see certain people who have income and still struggled in these journey because most of the lack discipline, most of them lack management and they end up struggling in their bitcoin investment.

Discipline plays a big role too, likewise patience. They just don’t help you in Bitcoin investment but in all aspects of life, that why I would say Bitcoin investment is a way of life.

These things helps you a lot, at the end we invest in bitcoin to help have a good future, to makes plans for our future.

Do you think steady income is what one need to invest in Bitcoin? We know the good roles of stable income but some persons will still have and won't be doing great in with Bitcoin accumulation, some won't even invest at all, whatever it is, what I know and convinced with is that we only need our discreationary income to invest in Bitcoin investment it is as simple as that.
I will say what helps us as invetsors is our mindset and understanding of what to do, investing in Bitcoin is simple if you're someone understands what to do and how to do it.

[Charcol]

Yes, your first task is to ensure you have a steady and stable income. However, this doesn't mean you can immediately start investing once you have it. The point is, first check to see if you have any income left over after you've covered all your monthly living expenses. If there isn't, I don't think you should force it.

You don't have to have steady/stable income in order to start to invest in bitcoin.

However, it may be better to have some form of steady/stable income in order to project abilities to pay expenses into the future, which can be a concern if we are deciding to put some money into bitcoin and also that when we buy bitcoin we are locking that money up for 4-10 years or longer so there likely are some needs to have some expectations of future income even though steady/stable income is not necessary to get started buying bitcoin.

Personally I don’t think you need a stable source of income to get started with bitcoin investment, considering that you have a discretionary income you can get started as little as it is, when I started investing in bitcoin 4 years ago I didn’t have a stable source of income, but I was doing some little jobs and still I got started with my bitcoin investment and I wasn’t very consistent only when I had a discretionary income I was able to buy and accumulate bitcoin.

However when I started having stable source of income, it gave me an edge to have the abilities to take care of my expenses and my bills more efficiently, which also it gave me that opportunity to have more stable ability and remain consistent in buying and accumulating my bitcoin, it was a kind of different when I didn’t have a stable source of income, I was accumulating but was still struggling to have a discretionary income to buy bitcoin, so everything was different with being comfortable to accumulate and pay my expenses when I had a stable/steady source of income.

Speaking about your early bitcoin journey, I didn’t know how you managed to cope with your investment and not having a steady income, it not that it not possible but it very hard and most Bitcoin investment failure are because they lack steady income.

Discretionary income is suppose to come in after getting your needs done right? So how can you have a discretionary income when your income is not steady. Needs are like problems, they keeps pilling up when not solved.

Not having a steady income will only make you journey hard and frustrating but it possible to start. For newbies I strongly advise you get a steady income but start as soon as possible because there is never a good time to start investing rather than starting as soon as you can.

Having a steady income is definitely helpful for us. But steady income is not mandatory to start investing in Bitcoin. A person can also get discretionary income from irregular income, contract income, small jobs or occasional income. If he can set aside a little of his necessary expenses for Bitcoin, then he can start even if it is small.

It is quite difficult to say that most investments will fail if he does not have a steady income. There are many people who make mistakes despite having a steady income. Because they do not keep an emergency fund, do not manage cashflow properly, go towards shitcoin or trading, and buy aggressively beyond their capabilities.
Again, despite someone having an irregular income, they gradually do DCA and invest according to their limits.
Here, having a steady income is not mandatory or the main thing. The main thing is to do as much as possible with discretionary income considering your financial situation and plan for the long term.

[Sally9256]

Yeah, because if you're a steady income it will help an investor to accumulate its bitcoin without thinking otherwise..secondly, it will make your investment to stay longer without tempering it for withdrawal...Most at times what makes some of investors to grow is due to panic after their investing, due to they did not have reinforcement or backup for sustainability, so lack of steady income for sustainability is what means investors to pull off their' investment...

Secondly, knowledge is required for successful and profitable investment, someone who doesn't have a knowledge will not likely to take investment risk, but a risk taker is liable to become successful at any point in time...

Having a steady income is very good but only when investment is done properly and your finances is properly managed if not even steady income cannot assure a steady and consistent accumulation. A steady income alone is not enough if someone lack proper financial discipline and investment planning. Consistent accumulation mostly comes from proper budgeting and being mindful of one's spendings and expenses.
Knowledge is required and very important but shouldn't be a reason we delay our investment. We can invest and expand our knowledge at the same time

[Grease5000]

Most Bitcoin investors fails to understand that discretionary income is more important than a stable income, because having a stable income still doesn't guarantees that you can figure out your discretionary income to invest with, so in as much as a stable income is very good, it's more better to have a discretionary income constantly, so that you can invest in Bitcoin consistently.

These two issues often arise among those just starting out in Bitcoin investing. Many beginners misunderstand that discretionary income is more important than fixed income leading to problems for beginners leading to frequent failures in Bitcoin investing.

Sometimes this understanding needs to be fully grasped by those who lack a clear understanding of the concept so they can invest consistently and avoid mistakes that could lead to long-term investment success. However this is difficult for those just starting out because they still feel quite aggressive and when they want to invest passionately without any shortcoming compared to those who already truly understand sustainable investing. This is why they often fail in their efforts without fully understanding the difference between discretionary and fixed income.

I get what you’re saying, but I don’t fully agree discretionary income doesn’t just appear on its own it comes from income. If his income isn’t stable,  then that consistent discretionary income won’t be consistent either. From an investor’s mindset, stability is what makes consistency possible. He can manage his expenses and create discretionary income, but without steady inflow of cash that plan can breaks easily.

So he needs both stable income and discretionary income  because Stable income creates the base,  while discipline creates the discretionary income, and consistency is what  builds the investment over time.

[JoyceBTC]

For sure having a steady income helps in making your Bitcoin journey easy but then we have see certain people who have income and still struggled in these journey because most of the lack discipline, most of them lack management and they end up struggling in their bitcoin investment.

Discipline plays a big role too, likewise patience. They just don’t help you in Bitcoin investment but in all aspects of life, that why I would say Bitcoin investment is a way of life.

These things helps you a lot, at the end we invest in bitcoin to help have a good future, to makes plans for our future.

Do you think steady income is what one need to invest in Bitcoin? We know the good roles of stable income but some persons will still have and won't be doing great in with Bitcoin accumulation, some won't even invest at all, whatever it is, what I know and convinced with is that we only need our discreationary income to invest in Bitcoin investment it is as simple as that.
I will say what helps us as invetsors is our mindset and understanding of what to do, investing in Bitcoin is simple if you're someone understands what to do and how to do it.

The question you asked is very simple, yes we need a source of income to invest in Bitcoin but it takes discipline to be a good investor of Bitcoin because there are those who who have good jobs but still struggling to invest in anything that would be of good benefits to them in the future. For those who are truly interested in investing in Bitcoin you don't need to have it all but your determination and discipline to choose the best strategy that won't stress the income you reserve for the investment you will do will matter more.

Bitcoin investment is for everyone it does not matter the amount you earn what matters is your willingness to invest and remain committed to your investment (consistency).

For those who are low income earners, you can choose

• DCA method of investment. Dollar Cost Averaging.

All you need in this method is to be consistent and committed to your investment if you do it for at least 20 years you should have accumulated a good amount no matter how much you are using to purchase.

For those with a very good income, the advantage will still be very simple they have the ability of purchasing power so in this case all they need is to engage in long term plan

• Holding).  If you also hold for long term you won't have any reason to complain if you have made your decision not to listen to naysayers and haters of Bitcoin.

[New Judgement]

Having a steady income is good but having a steady discretionary income is much better because it is discretionary income that we need to invest in bitcoin weekly or monthly.

Most Bitcoin investors fails to understand that discretionary income is more important than a stable income, because having a stable income still doesn't guarantees that you can figure out your discretionary income to invest with, so in as much as a stable income is very good, it's more better to have a discretionary income constantly, so that you can invest in Bitcoin consistently.

If you don’t have a stable income, how do you intend to a discretionary income? It is from the stable income you are getting on a regular basis that your will take out the money for personal and household expenses, possibly be left with discretionary income if your personal and household needs doesn’t consume all the money. It doesn’t take much to figure out one’s discretionary income. Once your income gets to your hand, you remove money you know can take care of things that you and your family will need till the next pay day, when that is done, whatever that’s left is your discretionary income. If you don’t have a means by which money flow into your hand, (it could be temporary or stable) you are not going to have a discretionary income, because it is from the money that gets to you that you will get your discretionary income.

[GhostOfBitcoin]

Having a steady income is good but having a steady discretionary income is much better because it is discretionary income that we need to invest in bitcoin weekly or monthly.

Most Bitcoin investors fails to understand that discretionary income is more important than a stable income, because having a stable income still doesn't guarantees that you can figure out your discretionary income to invest with, so in as much as a stable income is very good, it's more better to have a discretionary income constantly, so that you can invest in Bitcoin consistently.

If you don’t have a stable income, how do you intend to a discretionary income? It is from the stable income you are getting on a regular basis that your will take out the money for personal and household expenses, possibly be left with discretionary income if your personal and household needs doesn’t consume all the money. It doesn’t take much to figure out one’s discretionary income. Once your income gets to your hand, you remove money you know can take care of things that you and your family will need till the next pay day, when that is done, whatever that’s left is your discretionary income. If you don’t have a means by which money flow into your hand, (it could be temporary or stable) you are not going to have a discretionary income, because it is from the money that gets to you that you will get your discretionary income.

What we usually call disposable income is the basis of long term investment. The main condition for investing in markets like Bitcoin. Invest only what you can afford to lose.

When someone starts investing with the money that is left over after paying for household expenses then market volatility does not bother them.. If you have no income or if you invest with debt it can lead to big financial problems.

I want to add something to what you said. Being careful with money or reducing what you spend is also very important for increasing the money you have to invest in bitcoin. You can increase the money you have to invest by cutting back on expenses that you do not need. This will give you a chance to save money in Bitcoin using the DCA method. The important thing is to understand how your money is coming and going. This is the step to being free, from money worries.

[Brizi5000]

Most Bitcoin investors fails to understand that discretionary income is more important than a stable income, because having a stable income still doesn't guarantees that you can figure out your discretionary income to invest with, so in as much as a stable income is very good, it's more better to have a discretionary income constantly, so that you can invest in Bitcoin consistently.

These two issues often arise among those just starting out in Bitcoin investing. Many beginners misunderstand that discretionary income is more important than fixed income leading to problems for beginners leading to frequent failures in Bitcoin investing.

Sometimes this understanding needs to be fully grasped by those who lack a clear understanding of the concept so they can invest consistently and avoid mistakes that could lead to long-term investment success. However this is difficult for those just starting out because they still feel quite aggressive and when they want to invest passionately without any shortcoming compared to those who already truly understand sustainable investing. This is why they often fail in their efforts without fully understanding the difference between discretionary and fixed income.

I get what you’re saying, but I don’t fully agree discretionary income doesn’t just appear on its own it comes from income. If his income isn’t stable,  then that consistent discretionary income won’t be consistent either. From an investor’s mindset, stability is what makes consistency possible. He can manage his expenses and create discretionary income, but without steady inflow of cash that plan can breaks easily.

So he needs both stable income and discretionary income  because Stable income creates the base,  while discipline creates the discretionary income, and consistency is what  builds the investment over time.

i cannot agree with you less on this, but the truth is if you look at it from investment angle, a bitcoin investor only need a discretionary income to accumulate and invest in bitcoin. having a stable income and having a discretionary income are two different kind of thing and for a fact that someone has a stable income does not mean that the person will automatically have a discretionary income because this discretionary income is the money remaining after sorting out our basic needs which means that no matter how stable our income really is, if it cant sort out our basic needs successfully and remain some cash for discretionary needs such as accumulating bitcoin as an investor then we cant invest. but we can invest fully only when we have a discretionary income and that is the more reason why i think weather an investor have a stable income or not, what really matters is to have a discretionary income for his bitcoin investment. having a stable income is good, but then an investor only needs to figure out  a discretionary income for his bitcoin investment and hence build his emergency funds and other back up funds gradually off his discretionary as the case may be. a stable income is not a guarantee that the investor will be having a stable discretionary income to use for his bitcoin investment, and when we talk about consistency in investment isnt about buying bitcoin always but its all about ones ability to still forge ahead even when things go wrong along the line. so there will surely be some days/weeks or months when an investor may skip accumulating bitcoin due to not being able to have a discretionary income for his bitcoin investment even though he is on a stable income.

[Rockson1]

Yeah, because if you're a steady income it will help an investor to accumulate its bitcoin without thinking otherwise..secondly, it will make your investment to stay longer without tempering it for withdrawal...Most at times what makes some of investors to grow is due to panic after their investing, due to they did not have reinforcement or backup for sustainability, so lack of steady income for sustainability is what means investors to pull off their' investment...

Secondly, knowledge is required for successful and profitable investment, someone who doesn't have a knowledge will not likely to take investment risk, but a risk taker is liable to become successful at any point in time...

If we talk from now till next year i will keep telling you that discreationary income is what is required of us to invest in Bitcoin, if you have it then you're go to go in Bitcoin investment, do you agree with me that steady income guarantees nothing especially when someone is not interested in Bitcoin investment, infact some persons may have all the money but don't know how to figure out there discretionary income and that becomes a problem, we have heard more of this word discreationary income but some of us do not know how important it is in Bitcoin investment.
What helps you not to touch your Bitcoin stash along the line while you are still acumulating Bitcoin is your emergency funds not actually your steady income, lets understand this, steady income is important no doubt but let's not give it a role that is not it's own, even if got steady imcome, you still have to use the left over funds from your steady income to invest in Bitcoin, so that is it.

I don't think anyone will argue that knowledge is not needed to invest in Bitcoin rather what we have been saying is that for a start, the knowledge has to be basic, there are things newbies will have to know when they fully take part in the investment, so do you mean they should read all about Bitcoin investment and technicals before the start investing, are you advising that newbies should go beyond using their discreationary income to invest in Bitcoin, you are talking about risk taking, and I want to understand your point on that subject, I know about being agressive at some point of our Bitcoin, I truly support that but what I do not agree to is taking much risk, we must learn how to stick to the plan and discreationary income is what I can recommend, doing lump is not also a bad idea but of course we know that the money for lump sum does come all the time, let me hear from you then.