JJG’s Outline of Bitcoin Investment Ideas

[B-BossMan]

Yeah but, I am not saying to go to the opposite extreme either.  I was mostly responding to implications that several guys had been inclined to make to suggest that back up funds are not important and we can start later, and surely there is going to be some variance in regards to how much back up funds a guy might already have in place, and then his own judgement in regards to how to go forward, and surely if the back up funds are so low that they might not even cover until the next paycheck comes in, then that could be problematic, and also if the next paycheck ends up being way lower than expected and/or the expenses have gone up, then that could be problematic too.

At the same time, I tend to be a BIG advocate for getting started investing in bitcoin, and getting started from whereever a guy happens to be, so long as he can establish that he has sufficient discretionary funds to get started.

Going in the other direction of overly building up the back up funds and delaying getting started based on the size of the back up funds is problematic too, especially if a guy might be trying to bolster his back up funds prior to getting started buying bitcoin based on a presumption that back up funds are superior to getting started in bitcoin, even though back up funds do not need to be considered as superior, even though some certain levels can be helpful to make sure to get a guy to his next paycheck and also to get a guy past any reasonably foreseeable glitches in the pay and/or expenses.

I would also expect that if a guy is new to bitcoin and starting out somewhere close to zero in regards to both his bitcoin stash and also his back up funds, then with the passage of time (whether week by week or otherwise) the guy will be ongoingly building his bitcoin holdings and also ongoingly strengthening his back up funds.. and the longer that he is in bitcoin the stronger that both the bitcoin stash and the cashflow management becomes - even if a guy might have had started out his bitcoin investment journey without much of any investments and/or without much of any back up funds.

Yes it's true, some people actually over prioritize backup funds to the point they never truly started any longer, having an emergency savings is important to some extent,because it helps someone to survive some unexpected expenses or temporary income problems, but it's actually becoming a biggest problem when someone get fear of risk and keep pushing the target higher and higher without action or starting investing. For example if someone’s monthly expenses are actually $2,000 having a 3 months buffer of $6,000 is reasonable. But the rpbke is when the person keep saying I will start after $10,000and later changes to $15,000, then the backup funds has turn more excuses for starting a bitcoin investment delaying. The main problems wulith this approach is that time is being wasted. However, Bitcoin accumulation is not all about the amount one invented, it all about consistency,patience and discipline and building the strong habit of investing early. Someone who actually started with small amounts of money regularly is already learning the cashflow management, control his emotions and long-term investing behavior, and these lessons are valuable and cannot be learned properly through endless planning aline. Moreover instead of them to prioritizing back up funds or waiting for perfect financial security, it's better and smarter to build backup funds and Bitcoin holdings alongside using discretionary income. The both are growing together over time. The facts is, some people become financially stronger not because they waited longer foe anything else, but because they started earlier and stayed consistent.

[Morayoam91]

When how to make use of your income is figured out, then you will know how to manage your funds in such a way that you won't have a problem knowing the amount to allocate to the investment, all this needs to be figured out, but for anyone who wants to make use of the DCA, they should know that they need to follow the steps. Just that one of the most important things before anything else is the income, followed by knowledge if the person is a newbie, and I don't see how you want to invest without having the basic knowledge. We know money is also important, but you have to start with the basics. When the plan for income allocation is already in place, then that way, even the investor will enjoy using DCA.

Accumulation of bitcoin is not that deep. It has been discussed here and not like a rocket science or some calculus problems. it’s just for you to have a regular cash flow, identify your Discretionary income, have your emergency  funds  set aside and start your accumulation with  either  the DCA strategy  or the lump sum  it all depends  on your  financial state.
I don't know what basic knowledge  one need to know before investing, Bitcoin investment is one of this easy  going investment out there so long as you're doing it the right way.
 

I also think that accumulation Bitcoin is not a difficult thing if you have any amount of discretionary income every week. But being consistent is important because if your fund are small, you have to focus on being consistent. It will not be as easy to carry Bitcoin as you think if you do not have a regular source of income or multiple sources of income. A person does not understand the torment of poverty until he reaches that stage. If you are financially well-off, you will not be able to understand how difficult it is for the poor to meet their basic needs.

To be honest, saving Bitcoin is difficult but it is complicated for those who have the mental preparation to trade and the mindset of getting rich in a short time. Those who suffer in investing are those who do not have a risk-tolerant fund system and panic when the price drops.

If you invest with all your money with a plan for quick profit, you will not only be under stress but also there will be ups and downs in the market and if you do not have the financial clarity to withstand that situation, it will become difficult for you to sustain your holdings in the long run. So, you start small rather than making big opportunities. On the other hand, rather than spending time in the market for the right time, build your income source in a strong way from which you can invest the remaining money by spending the money you need in your normal life. As a result of gradually moving forward in the market through knowledge and experience, you will gain confidence in the future and clarity will be created. You will understand the market better, which will help you to be patient and steady in the long run. Along with this, you will see your holdings grow in size over time.

[Olatundespo]

At least small buffer is necessary but most importantly, stable income is a must.

I don't know why most of us here are not getting the point here that a stable income is not a must for you to invest in bitcoin and be successful at it. What is more important is a discretionary income, because a stable income doesn't guarantee that you can figure out your discretionary income.
I am not saying that it's not good to have a stable income, but what am trying to point out here is that it's not the key criteria a bitcoin investor must have in other to invest in bitcoin and be successful, because the key thing that is needed is a discretionary income, and once you can figure it out, starting your Bitcoin investment should be done right away without wasting any time further.

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

[cyberninja2]

This is a difficulty felt by most poor people because it is almost certain that they will never think about investing in financial conditions that are not good, but instead they think about how to meet their living needs together with their family. But views like this must also be changed and as much as possible, people who are in this situation must be able to make money so that they can make a portion of investing with small amounts because the most important thing is not how big or small the amount is but how they can be consistent in making the investment steps they take.
If they are able to make money every month then when the money is set aside to invest in bitcoin, the assets they own will slowly grow by themselves. The correct analogy for investing in bitcoin is a marathon, not a sprint because patience and discipline are much more important for some people whose finances are not yet stable.

If this happens it is better for those who are poor not to invest first because the finances they have are very minimal and it is better for them to do is to be sufficient for the needs of daily life first and there is no need to think about investment because for me if given two choices between investment and needs of course we must still choose needs because needs are more important for health reasons are everything and try to imagine for those who do not have income like those who earn more than their capacity of course they are very easy to fulfill their needs and also what they want so for me the poor people if they have weak finances it is better not to think about investment first because it can be done in the next stage when the financial condition is stable and sufficient if we do investment because I think poor people also have the desire to invest in Bitcoin because Bitcoin is a very popular asset today throughout the world whether in small or large amounts it is clear that all of us want to have assets even in the form of Bitcoin.

That's clear friend because it is impossible for someone to have a weekly income that exceeds their needs so it is very mandatory for that person to set aside money to invest in Bitcoin so that over time the assets in the form of Bitcoin that are done weekly will become like diamonds in the future because every week they always make or make money even more than what is desired so that when the weekly set aside money will be used for investment, just imagine if every week they make $ 85,000 and half of the results are used for investment so that if calculated for three years, of course that person has built a very significant amount of assets this is because they always make money every week that exceeds their needs so it is very mandatory for them to invest and they do not waste time when making money that exceeds the capacity they need.

[Barikui1]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin.

I never wanted to meddle in your conversation but what caught my attention was this your statement above, which I think is wrong, because I believe that it's not an excuse. Not knowing what is a stable income or an unstable income is purely lack of common sense, it has nothing associated with Bitcoin investment.

It's not mandatory that you must have a stable income before you can invest in Bitcoin and be successful, what is more important is a discretionary income, because once you can figure it out, you can start right away, so it's not wise to be using an unstable source of income as an excuse not to invest in Bitcoin when you should.

[Stive009]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

I agree with you. Rather   than taking a big risk all at once, it is wiser to invest little by little from the beginning, according to your ability. Being able to make such decisions early on  understanding the value of time, is the true sign of being a successful investor.

[ZeroVinsonN]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin.

I never wanted to meddle in your conversation but what caught my attention was this your statement above, which I think is wrong, because I believe that it's not an excuse. Not knowing what is a stable income or an unstable income is purely lack of common sense, it has nothing associated with Bitcoin investment.

It's not mandatory that you must have a stable income before you can invest in Bitcoin and be successful, what is more important is a discretionary income, because once you can figure it out, you can start right away, so it's not wise to be using an unstable source of income as an excuse not to invest in Bitcoin when you should.

Why even worry about whether your source of income is stable or not with bitcoin investment when you know you are able to generate discretionary income regardless, sure getting your finance in order and stabilizing things will be to your advantage as a person but when it comes to your bitcoin investment none of that truly matters, the important thing where your investment is concerned is your discretionary income, as long as you have that you can invest in bitcoin without any hitches, it's only when you aren't generating any discretionary income that your investment can't move forward, the absence of your discretionary income should be the reason why you can't continue your investment.

[avp2306]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin.

I never wanted to meddle in your conversation but what caught my attention was this your statement above, which I think is wrong, because I believe that it's not an excuse. Not knowing what is a stable income or an unstable income is purely lack of common sense, it has nothing associated with Bitcoin investment.

It's not mandatory that you must have a stable income before you can invest in Bitcoin and be successful, what is more important is a discretionary income, because once you can figure it out, you can start right away, so it's not wise to be using an unstable source of income as an excuse not to invest in Bitcoin when you should.

Why even worry about whether your source of income is stable or not with bitcoin investment when you know you are able to generate discretionary income regardless, sure getting your finance in order and stabilizing things will be to your advantage as a person but when it comes to your bitcoin investment none of that truly matters, the important thing where your investment is concerned is your discretionary income, as long as you have that you can invest in bitcoin without any hitches, it's only when you aren't generating any discretionary income that your investment can't move forward, the absence of your discretionary income should be the reason why you can't continue your investment.

Agreed with that statement regarding on discretionary income is important on our Bitcoin investment. But also having stable income really matters because this will provably keep our discretionary income continuously flowing.

If it happens that your income is unstable, then it will be so hard for us to generate discretionary income in that situation, Then if that occurs that situation will lead us to pause our accumulate or even we decide to sell early. Discretionary income is really important on our investment, but we also need to make us became more consistent with our investment we also need to have stable income.

[Brizi5000]

How long do you think it takes a guy to build up a 3 month back up fund in fiat?

It completely depends on the income and savings rate of a person. Let's say a person's monthly expenses are 30,000 taka. Then his 3-month backup fund will be 90,000 taka. If he saves 10% of his income (let's say 3,000 taka) every month, it will take him 30 months or two and a half years to accumulate 90,000 taka. And if he can save 30% of his income (say Rs. 9,000), then this fund will be created in just 10 months. For a common man, it should usually take 6 to 12 months to create an ideal backup fund, so that there is no extra stress in daily life.

How does he balance his back up funds with his bitcoin buying?

Bitcoin is very volatile. A Bitcoin that is worth $60,000 today may be worth $45,000 tomorrow. The best way to maintain balance is to use a percentage split. Let's say that after deducting all expenses every month, he has an extra $10,000 (Discretionary Fund). He can divide it like this: 70% in fiat backup: 7,000 taka will be deposited in the bank or as liquid cash. 30% in Bitcoin: He will buy Bitcoin (DCA - Dollar Cost Averaging) with 3,000 taka every month. Why this balance? If any sudden emergency comes, he should not have to sell Bitcoin at a loss. The fiat fund will give him that security.

What if a guy comes to learning about bitcoin and he wants to get started, and he knows that he has discretionary funds, yet he does not have any back up funds, how should such a guy proceed, from your point of view?

For someone who is new and not used to Bitcoin volatility, it is risky to put all the money directly into Bitcoin. He should follow a hybrid strategy. First, set aside at least 1 month of living expenses in fiat currency (cash/bank) with the entire discretionary fund. You should not buy Bitcoin until you are sure of this. Once you have 1 month of backup, start buying Bitcoin. But not with the full amount. Keep 70% of the extra funds each month in Fiat backup and use the remaining 30% to DCA (Dollar Cost Average) Bitcoin. Continue like this until the day your Fiat backup fund becomes equal to 3 months of expenses, stop keeping money in backup. From then on, you can safely invest 100% of your optional funds each month in Bitcoin. Fiat backup will protect your present, and Bitcoin will build your future.

How much back up funds do you believe he needs before getting started buying bitcoin.

Before getting fully immersed in Bitcoin, you should have at least 1-2 months of living expenses in fiat currency as a backup. Because if you buy Bitcoin today, it can drop by 20-30% tomorrow. If you don't have a 1-month backup and a medical emergency arises during that time, you will be forced to sell Bitcoin at a loss. Therefore, a minimum 1-2 months of fiat backup is a safety shield for entering the Bitcoin market.

Then, once he gets started buying bitcoin should he continue to build his back up funds or not?

Yes, of course, he should continue, but change the ratio. When the backup fund is 0-1 month, the focus will be: 80% backup / 20% Bitcoin. When the backup fund is 2 months, the ratio will be: 50% backup / 50% Bitcoin. Fiat accumulation cannot be stopped until the backup goal (3 months) is met. Because the volatility of Bitcoin is much higher than that of Fiat.

then what happens once his back up funds are at a level of 3 months of his expenses?  Where is his bitcoin investment at such a time?

When a person's backup fund equals 3 months of their essential expenses, they are in a much more secure financial position. This means they no longer have to worry about selling Bitcoin in an emergency. They can then accumulate Bitcoin over the long term with relative confidence. For example, if someone's monthly expenses are 30,000 taka, then after having an emergency fund of 90,000 taka, he can invest a large part of his extra income in BTC. His Bitcoin position at that time may not be very large, but it will be stable, low-risk, and sustainable in the long run.

Quite fair enough with your opinion @Ghostofbitcoin, but going through all your assertions one can still tell that you are prioritizing building emergency or back up funds over getting started with bitcoin accumulation even when the discretionary income is readily available to use and get started in investing in bitcoin. The evidences you gave Lack some insight as your emphasis depends more on the individual’s income level or savings rate to be able to get his back up funds ready within a short period prior to getting started in accumulating bitcoin and hold.

 Now what if an individual’s savings rate is very low as a result of  the level of his income, are you still going to advise such person to wait even if it takes him 20 years to finish saving for his back up funds before he can start investing in bitcoin, that’s certainly a No.

 the last part of your post got me as when Jay Juan gee asked where is the individuals bitcoin investment after spending years saving for 3-6 months of living expenses, where’s the bitcoin to be backed up with this back up or emergency funds. The truth is that nothing stops you from trying to balancing the both sides and not just focusing on one side of trying to build a back up funds first before getting started In bitcoin investment. As you are saving money for back up funds with your discretionary income, don’t you know that you can still be allocating some percentage of it towards buying bitcoin also with the DCA regularly no matter how small, because those years you were using to build the back up funds alone would have also been fruitful in stacking up some decent or reasonable bitcoin portfolio. Delaying to start investing even if your discretionary income is ready all because you want to build a back up funds first is not really the ideal thing to do as you can be buying bitcoin along the line building up your back up funds along side it with your discretionary income.

[Morayoam91]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

I agree with you. Rather   than taking a big risk all at once, it is wiser to invest little by little from the beginning, according to your ability. Being able to make such decisions early on  understanding the value of time, is the true sign of being a successful investor.

It is better to take advantage of the current time and opportunity because the price of Bitcoin is cheaper now than in the future because many people in the past did not give importance to Bitcoin and many just waited, many of them are regretting it now, it is effective to start saving small amounts of Bitcoin according to your ability to invest in Bitcoin because in the future when the price of Bitcoin goes from the current to a high level, you will be far away from those people who can only regret because they did not start earlier, but gradually increase the savings from a limited income, because over time you will gain skills on the one hand, on the other hand, the income base will be stronger and then you will be able to increase the amount of Bitcoin collected and so move forward from within your ability without waiting for the perfect time.

[Halifat]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

I agree with you. Rather   than taking a big risk all at once, it is wiser to invest little by little from the beginning, according to your ability. Being able to make such decisions early on  understanding the value of time, is the true sign of being a successful investor.

The DCA strategies have put more enlightenment for people that have not started investing in Bitcoin because they always believe that you have to have a huge amount before you can even invest but not knowing that you can have it little by little by the use of DCA strategy. One thing that give me so much confidence with this DCA strategy is that with even unstable income you can gradually accumulating Bitcoin, not really that you must have a stable income because there are some people who have to work hard to get something such people even enjoying accumulating Bitcoin if really they wish to because their income is not calculated, it is not fixed like a paying job example salary.

Even the people that are salary earners can also use this strategy but only when they don't have a lot of burden on them because that is normal thing that kills the salary earners, they over spend their income that was why some of them could not even balance to get all their needs. And for anyone to invest in Bitcoin must know that you have to invest what you can afford to lose, that is why only few salary earners are capable of investing on Bitcoin. In terms of investment everything need plans and again the best thing for someone to do is to take risk because this life is all about risk and once you decided not to take it, you will remain in one position while others that are taking it will be moving ahead of you. This is a wake up call for even the salary earners because if they decided to skip themselves from all this definitely it will not be a good result at the end.

[Humblevirus]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin.

I never wanted to meddle in your conversation but what caught my attention was this your statement above, which I think is wrong, because I believe that it's not an excuse. Not knowing what is a stable income or an unstable income is purely lack of common sense, it has nothing associated with Bitcoin investment.

It's not mandatory that you must have a stable income before you can invest in Bitcoin and be successful, what is more important is a discretionary income, because once you can figure it out, you can start right away, so it's not wise to be using an unstable source of income as an excuse not to invest in Bitcoin when you should.

Why even worry about whether your source of income is stable or not with bitcoin investment when you know you are able to generate discretionary income regardless, sure getting your finance in order and stabilizing things will be to your advantage as a person but when it comes to your bitcoin investment none of that truly matters, the important thing where your investment is concerned is your discretionary income, as long as you have that you can invest in bitcoin without any hitches, it's only when you aren't generating any discretionary income that your investment can't move forward, the absence of your discretionary income should be the reason why you can't continue your investment.

When starting Bitcoin investment, it is not necessary for someone to have stable sources of income before starting Bitcoin investment. What truly matters is discretionary funds. But let it be known that without continuous earnings, it will be hard for someone to keep getting discretionary funds. So, let it also be known that stable sources of income are very important in Bitcoin investment.Some people end up selling their Bitcoin investment at the wrong time, not because of anything else, but because they do not have stable sources of income. Once money no longer flows into their hands, they will definitely end up selling their Bitcoin when they need money to solve problems. In fact, they will no longer be progressing in their portfolio because they will not have enough money to continue accumulating gain.

[The Founding Titan]

How much back up funds do you believe he needs before getting started buying bitcoin.

Before getting fully immersed in Bitcoin, you should have at least 1-2 months of living expenses in fiat currency as a backup. Because if you buy Bitcoin today, it can drop by 20-30% tomorrow. If you don't have a 1-month backup and a medical emergency arises during that time, you will be forced to sell Bitcoin at a loss. Therefore, a minimum 1-2 months of fiat backup is a safety shield for entering the Bitcoin market.

You are wrong on some other counts but I want to point out this one particularly, a backup funds is important for an investor to have but it doesn't mean that not having it is an excuse to not start accumulating, you need to understand that they all come from your discretionary income, if you have the discretionary income to set up your backup funds then you also have the discretionary income to accumulate bitcoin, you might not be buying much since you are also setting up your backup funds at the same time but it's definitely better than not accumulating for 2 months when you have the discretionary income to do so available to you, it's an unnecessary delay that any investor should have to endure, focusing only on your backup funds for 2 months is 2 months not accumulating bitcoin and 2 months of missed buying opportunities, no investor wants that.
Having a backup fund before you start investing isn't wrong, most people already have backup funds before they even decide to start their bitcoin investment but that's because they already had it before they started investing, if investing in bitcoin has been what triggered their urge to set up their backup funds then it would be smarter on their side to do them side by side instead of prioritizing their backup fund over their investment, infact if you are going to prioritize one over the other then it should be your investment over your backup funds but still just better to do them together.

[Grease5000]

At least small buffer is necessary but most importantly, stable income is a must.

I don't know why most of us here are not getting the point here that a stable income is not a must for you to invest in bitcoin and be successful at it. What is more important is a discretionary income, because a stable income doesn't guarantee that you can figure out your discretionary income.
I am not saying that it's not good to have a stable income, but what am trying to point out here is that it's not the key criteria a bitcoin investor must have in other to invest in bitcoin and be successful, because the key thing that is needed is a discretionary income, and once you can figure it out, starting your Bitcoin investment should be done right away without wasting any time further.

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

I get the point you are making, and you  are right that discretionary income is what actually gets invested, not the salary itself. But the solution is balance. You don’t need to wait for a perfect stable income before starting  even small discretionary income is enough to begin. At the same time, stable income still matters because it helps investors maintain consistency over the long run.

So instead of arguing one against the other, the smarter approach is simple start with whatever discretionary income you have now, while also working towards more stable cash flow to make accumulation easier and more sustainable.

[sotelorene]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

I agree with you. Rather   than taking a big risk all at once, it is wiser to invest little by little from the beginning, according to your ability. Being able to make such decisions early on  understanding the value of time, is the true sign of being a successful investor.

Investing in Bitcoin ittle by little in the beginning is not a sign of being a successful Investor, I don't really know where you get the idea and knowledge but I strongly disagree with you because the only sign of being a successful Investor is by Investing consistently, holding for long term with the right funds required ( discretionary income). Because if you don't invest with the right funds whether you are holding for long term or not, you will be cut short of your investment definitely.

[Livingleged]

One thing that give me so much confidence with this DCA strategy is that with even unstable income you can gradually accumulating Bitcoin, not really that you must have a stable income because there are some people who have to work hard to get something such people even enjoying accumulating Bitcoin if really they wish to because their income is not calculated, it is not fixed like a paying job example salary.

This your  statements  can be misleading  if not properly  checked, I don't know what your definition  of unstable income  is but I can assure  you that the most important  thing about investment  most especially investment  like the bitcoin investment  is your income, and if your income are not stable  your investment will fail.

Income may vary and that is why discretionary  income also varies, but you saying  one can actually  go ahead with the investment  even though  his income are  not stable is not right. First thing  you need to do is to get a stable  income that will fuel your investment.  it doesn't  matter the amount  but what matter is that the income flows and that's what stability  means in this essence. As the income  flows, you'll  be able to settle  your basic  need and also have your discretionary  income that you will use for the investment.
I am strongly against  going  ahead with investment  while  your income are not consistent.

[Silikiem]

One thing that give me so much confidence with this DCA strategy is that with even unstable income you can gradually accumulating Bitcoin, not really that you must have a stable income because there are some people who have to work hard to get something such people even enjoying accumulating Bitcoin if really they wish to because their income is not calculated, it is not fixed like a paying job example salary.

This your  statements  can be misleading  if not properly  checked, I don't know what your definition  of unstable income  is but I can assure  you that the most important  thing about investment  most especially investment  like the bitcoin investment  is your income, and if your income are not stable  your investment will fail.

Income may vary and that is why discretionary  income also varies, but you saying  one can actually  go ahead with the investment  even though  his income are  not stable is not right. First thing  you need to do is to get a stable  income that will fuel your investment.  it doesn't  matter the amount  but what matter is that the income flows and that's what stability  means in this essence. As the income  flows, you'll  be able to settle  your basic  need and also have your discretionary  income that you will use for the investment.
I am strongly against  going  ahead with investment  while  your income are not consistent.

You are equally getting the whole idea wrong also. I’m sure if you have been following up with the teachings here by Jay Juan gee you’ll know that you are getting it wrong with your idea. To start investing in bitcoin all you need is to figure out a discretionary income to use and buy bitcoin. So even if your  income is not stable yet it doesn’t still prevent you or become a barrier why you shouldn’t start accumulating and investing in bitcoin all you need is just a discretionary income and not a stable income. Having a stable income is good but however even if your income is not stable you can still proceed to start investing in bitcoin only if you have a discretionary income available to use and accumulate bitcoin. You must not wait for your income to be stable before you can start investing bitcoin as you can still start to buy gradually with your discretionary income and along the line you can be figuring out ways to improve your income or perhaps get more stable income in the future.

You need to know that having a stable income is not a guarantee that you will have a discretionary income to use for buying bitcoin because personally I’ve seen folks with stable income but they still struggle and find it difficult to get a discretionary income from it and accumulate bitcoin due to lack of proper financial management skills. There are also some folks who doesn’t have a stable income but they still manage to be figuring out a discretionary income from time to time to use and accumulate bitcoin. It’s all about having a good financial management skills. So even if the income is not stable yet, you can still start investing In bitcoin as far as you are able to from time to time figure out a discretionary income to use and accumulate bitcoin and hold and along the line gradually building an emergency funds also then you’re good to go, as time goes on you can be figuring out ways to improve your income.

[BitBakerr1]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin. In the initial stages of Bitcoin accumulation, you may have a small source of income or you may be struggling to generate temporary income to cover your personal expenses. In that case if you have a discretionary income then you can start investing in Bitcoin. So it is understandable that a stable source of income is not required to start accumulating Bitcoin. What you need is a discretionary income whether it is a unstable source or a stable source.

Gradually you will be able to gain practical skills and access a stable source of income, at that time you will be able to increase the amount of Bitcoin accumulation. These timely decisions to increase your Bitcoin holdings are very important for new investors. You will see some new investors mentally regretting that they have delayed accumulating Bitcoin. By starting to save Bitcoin with temporary earnings, you won't join the ranks of those regretful investors in the future.

I agree with you. Rather   than taking a big risk all at once, it is wiser to invest little by little from the beginning, according to your ability. Being able to make such decisions early on  understanding the value of time, is the true sign of being a successful investor.

Investing in Bitcoin ittle by little in the beginning is not a sign of being a successful Investor, I don't really know where you get the idea and knowledge but I strongly disagree with you because the only sign of being a successful Investor is by Investing consistently, holding for long term with the right funds required ( discretionary income). Because if you don't invest with the right funds whether you are holding for long term or not, you will be cut short of your investment definitely.

Someone can be investing or accumulating bitcoin little by little and still succeed the main point is being consistent in your accumulation and know how to manage your finances, some people really don’t know how to cut down their expenses and that is why some end up not having a discretionary income, lack of financial management is a very big problem for a lot of people who are into bitcoin investment, for me I can decide to increase my accumulation for this week to 10% and the reason why it is always possible for me to do that is because I’m very good in financial management I cut down cost when necessary, if you have poor financial management believe me you will find it so difficult to succeed in your bitcoin investment.

[reagansimms]

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I agree with you. Rather   than taking a big risk all at once, it is wiser to invest little by little from the beginning, according to your ability. Being able to make such decisions early on  understanding the value of time, is the true sign of being a successful investor.

Maybe you mean investing consistently and gradually or better known as the DCA method, this strategy is one of the best ways to build wealth. DCA also helps you to minimize risk while optimizing potential profits in the long term. You don't need a lot of capital to start investing because Bitcoin allows you to buy in small amounts. If you're just starting to invest in Bitcoin, you need to understand the value of time and discipline to avoid getting caught in a situation of making a big entry during a euphoric moment, then exiting in a loss due to panic. These losses aren't due to a lack of knowledge, but rather to your uncontrollable emotions.

[Rockson1]

It can be difficult for new investors to understand the difference between a stable source of income and a unstable source of income, which can lead to confusion when it comes to investing in Bitcoin.

We know the roles of stable source of income and how important it is as Bitcoiners but as a beginner or every other investor, we should not get ourselves confused for no reason, if we have as source of income wether stable or unstable as far as it is a source of income or even any source we can figure out our discreationary income from, we are good to go, come to think of it, I do not think that it is difficult for a newbie to differentiate between those income phases that you mentioned, being a newbie does not make an investor a dummy although there are things a newbie should not stress about from the beginning, if a newbie has a source and can identify his discreationary income, such newbie should has nothing to wait for than to start because there is no where it was written that newbies should has a constant income flow before the can start acumulating Bitcoin, there is what we call commitment, once they start, they can actually go for improved income that can increase their discreationary to help them in being consistent in their Bitcoin acumulation.