JJG’s Outline of Bitcoin Investment Ideas

[JayJuanGee]

Bitcoin investment can be done in any way, if the investor has the desire to invest in Bitcoin. Bitcoin investment can be done consistently if there is regular and desired income, we can further improve the discretionary income stream by investing in Bitcoin. Because if we invest in Bitcoin weekly by following the DCA method regularly, then surely the success of Bitcoin investment is possible.
And according to the DCA method, it is possible to keep Bitcoin investment for a long time, because only by keeping Bitcoin investment for a long time, success can be achieved

No investment is certain to be successful. So we can say that if we are able to hold Bitcoin for a long time, then there is a possibility of success.

Even if we adopt the best method, there is no certainty of success. DCA is an investment method through which we buy. The DCA method will never help you hold it for a long time, especially at a time when your financial crisis will arise. What we need to do is to take precautions against all possible disasters in advance so that when those crises occur, we can take precautions immediately and this crisis does not create any pressure on our investment.

There is no reason to overly emphasize the idea of emergency preparation, since we are talking about bitcoin, bitcoin investing and how to build our bitcoin investment, maintain it and perhaps increase the chances that our ongoing and consistent investment in bitcoin is going to end up giving us more options and putting us in a better place due to our ongoing investing into bitcoin rather than if we had not done so.

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

No investment is certain to be successful. So we can say that if we are able to hold Bitcoin for a long time, then there is a possibility of success.

Even if we adopt the best method, there is no certainty of success. DCA is an investment method through which we buy. The DCA method will never help you hold it for a long time, especially at a time when your financial crisis will arise. What we need to do is to take precautions against all possible disasters in advance so that when those crises occur, we can take precautions immediately and this crisis does not create any pressure on our investment.

You are right, DCA is a buying strategy that allows you to buy regularly and helps you stay active with the market. Buying strategies cannot help you be long-term. You need a different type of skill to hold Bitcoin for the long term.

Based on the skill, we can divide Bitcoin investment into three categories -

• 1. Good financial management skills through which you are able to allocate discretionary funds for investment.
• 2. The skill of buying Bitcoin with the right strategy considering the situation. In the case of DCA, too, acquiring the skill of buying at the right (weekly, half-monthly, monthly or quarterly) DCA considering your situation.
• 3. The skill of risk management and the skill of holding investment funds for the long term by taking the necessary steps.

Although there is a relationship between these three skills, one skill does not significantly affect the other. You may be good at financial management, so it does not ensure that you are buying with the right strategy and will be successful in the long term. Being good at financial management and purchasing strategies does not guarantee that you will be successful in the long run. To be successful in long-term investing, it is essential to acquire good skills in each department. You will definitely be able to acquire these skills gradually if you try. Of course, you do not need to delay your investment for this.

Your outline may well capture the most important skills during the bitcoin accumulation phase which also may well involve a certain level of purposeful insistence on buying every week (or perhaps on some other periodic basis?) that will help to reinforce that the goal is ongoing buying and that selling is not part of the practice.

So then if we may well be ongoingly buying bitcoin and putting systems into place so that we can ongoingly buy bitcoin while still managing the various ongoing expenses of our lives and keeping a cash cushion so that we are never tempted to tap into our bitcoin at a time that is prior to reaching bitcoin accumulation goals that we have, so we still would be ongoingly in touch with keeping some ballpark ideas of the bitcoin accumulation goals that we are striving to reach and even perhaps reassessing such goals in light of any matters that might be affected within our own 9 individual factors.

So there may be some time in which we might assess that we are transitioning more into a maintenance stage and then presumptively later we may well transition into some form of a liquidation stage whether that is sustainable withdrawal (which seems to be the more practical approach) or maybe liquidation that is not sustainable, in cases in which we might consider end of life or end of investment that might more realistically relate to bad health and/or end of life - to the extent that we might not have had developed acceptable and/or reasonable successor plans.

The bitcoin itself is going to provide additional financial power and wealth growth, especially with the passage of time, even if we try to never spend it and the bitcoin is serving as one of the last (if not the last?) of resources to tap into in the event of any shortages in income and/or increases in expenses.

In other words, the longer that we are in bitcoin, the more financially (and probably psychologically too) powerful that we likely end up becoming, and even our ongoing growth in bitcoin and its likely improved purchasing power (not guaranteed) and the lack of growth in purchasing power of various fiat and/or fiat related assets, we still may ongoingly be growing our wealth in each of the categories, since there still is likely going to remain to have some value in keeping some of our wealth in fiat-related assets, including cash, even though we should also recognize that the cash is not holding its value well and the cash is almost guaranteed to ongoingly deplete (and debase) in its abilities to purchase the same quantity of goods/services that it had been able to purchase in previous times.

In the earliest years of our bitcoin accumulation (and likely even moreso for poor people), there tend to be great needs to ongoingly make sure that we are protecting our bitcoin so that we can ongoingly grow our bitcoin, even though there are likely going to remain times in which it may well seem that our progress in growing our bitcoin (and even our wealth overall) are not really making a lot of progress.. yet surely if we are able to ongoingly earn income and ongoingly contribute to putting some of the value of our income into bitcoin (especially after accounting for our monthly expenses), through the years progress is likely to be ongoingly being made even though there might be some periods in which the dollar value measurements might be seeming to show lack of progress and even negative value...

and so another thing is that even if the dollar value might be down, if the sats continue to grow, then it remains likely (even though not guaranteed) that the ongoing growth in the quantity of sats is going to end up paying off, which also justifies that we are keeping a good quantity of those sats in private custody rather than holding them with third parties, especially as they might continue to grow to become larger and larger portions of our overall networth... And, yeah, I don't mind if guys even might keep up to around 10% of their bitcoin holdings (and bitcoin price exposure) with 3rd parties, yet it becomes risky to be allowing 3rd parties with that much control over the wealth that we might have had spent 4-10 years or even longer building up with a lot of purposeful efforts.

I agree with you. Because even people with irregular income can still invest consistently through DCA if they are disciplined and intentional. The important thing is to budget carefully, build an emergency fund for difficult periods, and invest only from discretionary income after essential bills are covered.

As long as someone is still able to carry out their activities that's true. However sometimes someone can invest without a steady income. So what I mean by asking is what if someone experiences difficulties for several months without income? Can they still continue with their next investment?

In my opinion to build an emergency fund we must have a steady income even if the amount is not much. Like those who earn more than their financial capacity if a crossroads occurs while actively working on accumulating emergency funds but at the same time someone experiences problems that make it increasingly difficult to earn their usual income they will not be able to continue what they usually do. Ultimately they will find other ways to continue their activities to accumulate emergency funds. Therefore, I believe having a steady income is better for investing in Bitcoin with a fixed goal. This facilitates careful planning so that our desired goals can be achieved according to expectations.

There is no reason to be so rigid in whatever the fuck you are expecting and/or to consider that you failed in your bitcoin investment and/or other aspects of your cashflow management merely because some of the specifics of what you were expecting did not play out exactly as you had been anticipating.  For any of us, there tends to be needs to adapt to variations in how the future might play out, even if we might try to make strict plans for ourselves in terms of how much priority that any of us might give to the reaching of certain goals that are based on certain expectations that we might have.

Sure, we make plans and we even may have expectations in regards to most likely scenarios that are likely to play out, yet sometimes there may be circumstances that end up affecting our abilities to reach some or all of our goals and/or we might have variations in our plans that take us into a different direction, and sometimes our divergence is temporary and other times we may well have to readjust our plans and/or our expectations of our abilities to reach certain goals to some kind of a permanent divergence.

In many instances (if not most) it is better to have a steady income rather than not, except maybe in those cases in which the steady income is filled with various obligations that are tending to take away time from abilities to both use time more efficiently and perhaps even taking away from possibilities to earn more money (perhaps even relative to the amount of time spent), even if the other better paid situations might not be as stable in terms of finances.

Even if a guy might have plans to buy bitcoin no matter what or nearly no matter what, any time that there are losses in income and/or increases in expenses, there may well be depletion of various back up funds that might first affect ongoing abilities to continue to buy bitcoin, and then perhaps later there might be challenges to merely holding whatever bitcoin remains without selling any or all of it, and so the longer any shortfall of income happens and/or the more severe the expense, then more and more of the back up funds, abilities to replenish and/or even ways to protect the bitcoin stash may well become more and more challenged as various resources may well end up being depleted or greatly undermined.  In those kinds of situations, there will be judgements and even spending within priorities and even potentially readjustments of priorities that may or may not end up playing out in good ways and maybe in other ways mistakes end up being made due to preparation and/or lack of preparations in regards to the changes of income and expenses and/or the level to which various back up funds and back up resources are able to be effectively deployed.

[Derekfunds]

It’s very surprising that some people still have this mindset of thinking you need to have a stable income before investing in Bitcoin. And with the economy of some countries, some individuals find it difficult to have a stable income, but he assume everyone has to wait until they get stable income before they can invest in Bitcoin.

Moreover, having a stable income is not a must, as long as you have a discretionary income from what you earn whether weekly or monthly, you can invest in Bitcoin. The most important thing is having discretionary income, with any amount of your choice, and you can figure out your emergency funds later.

Waiting until you have a steady income or stable finances is just stalling for time because I'm sure that by not having a steady income we can invest in bitcoin because I'm sure we must have money every day or at any time and of course if you have the intention from the start then it can be done.
 
Emergency funds, needs are one of the factors that must be considered and by having this income can be overcome even though it is not a regular income. But I think having a steady income can be said to be important too.

I agree with you. Where I come from if one waits for everything to become stable before investing, he might never start. For me, the important thing is just finding small discretionary money and staying consistent with it. Because even small buys add up with time if he keeps going steadily.

It is not about where you come from but rather it is something that happens everywhere. If someone is waiting before they start their Bitcoin investment when they have a discrestionary income to start with, the procrastination may continue untill there is renew or change of mind and mentality. As an investor you don't have to find discretionary income but rather you have to sort or figure out your discrestionary income after all expenses has been taken care of.

[Queen uloma]

Moreover, having a stable income is not a must, as long as you have a discretionary income from what you earn whether weekly or monthly, you can invest in Bitcoin. The most important thing is having discretionary income, with any amount of your choice, and you can figure out your emergency funds later.

This is also not right for me if done because in this case even though your desire to invest is very good but you cannot forget emergency funds or leave it empty because this can be important for you in everyday life in the next few days or a month if something unexpected happens it can then the funds can back you up to cover unexpected needs.

I will usually make this a unity when I start in the sense that even though I buy bitcoin but I will still set aside some for a reserve fund or emergency fund so that we still feel comfortable in our bitcoin purchases on the one hand we also minimize the worst possibility in unexpected needs that we can experience at any time.
 
Do not delay or eliminate things that should exist even if you want to invest because it could be when you delay or eliminate your emergency fund or reserve fund because it can affect you in investing.

I agree with you investment is not supposed to make someone forget about emergency funds because life itself is not balance. Anything can happen anytime. you can fall sick, family issues, you can lose your job  or unexpected expenses can come up. So if you invest all your money, especially in bitcoin that the price can fluctuate, it will be difficult to survive at that  moment without pressure. That is why it is essential for someone to build small reserve funds or keep some money for emergency needs before investing. Which it will definitely help them because you won’t panic to sell your bitcoin anytime you have emergency needs. Some people invest all their money in bitcoin because of greed or fear of missing out, but when unexpected problems comes in, it is the same investment that they will run to and sell in loss. Good financial planning needs balance, which is to invest for the future but also prepare for emergencies.

[Mame89]

When you said in any way, are you trying to say if an investor have his discreationary income available? If that is what you meant, then you are very right, you know what some people do not know is that if they have any source of income that can present them with a discreationary income, they are fit to invest Bitcoin, some people keep talking about stable income which I do not kick against but where they get it twisted is by saying that one has to have a stable income before they can start investing in Bitcoin which is not true, i believe in gradual process, for me there is always a starting point and that point is what pushes you to another level depending in your level of commitment and seriousness, our discreationary income doesn't have to be in a particular point, it grows as we continue to seek for improved income so we should not despise the one at hand because consistency is the way to achieve our desired goal on a long-term.

Quite a number of debates have been going on about whether you need a stable income as a Bitcoin investor that is using DCA strategy to accumulate, my answer is that it is necessary but not a must, what matters is to buy when you have available discretionary funds. If your income is not regular then you should focus on meeting up with your basic expenses and when you get income that can afford you a discretionary fund then you will buy.

Bitcoin accumulation is better to be done with money that you can afford to loose, if you don't have a regular income then you probably don't have amount that you can afford to lose to buy Bitcoin. Based on your discretionary funds you can workout how much that is comfortable for you to buy Bitcoin with.

Yes, that's right. I agree with you. Having a steady income makes it much easier to do DCA but this isn't a reason to delay investing in Bitcoin. The key to implementing DCA over the long term is having extra funds after meeting your needs and not having to force your purchase schedule due to inadequate financial conditions. The main priority remains basic needs and routine expenses and the rest should be done with DCA.

Essentially a steady income makes the process easier, and you can plan ahead. Having an irregular income doesn't mean you should delay buying Bitcoin. Risk management, patience,and long term consistency are key. Many successful investors started from unstable financial conditions but they were very disciplined in separating their money for needs and investment.

[Jewan420]

That is why it is essential for someone to build small reserve funds or keep some money for emergency needs before investing. Which it will definitely help them because you won’t panic to sell your bitcoin anytime you have emergency needs.

Apart from the mentioned line, you may be right, but I cannot agree with you that we should have an emergency fund before starting investing. For real life management, you can have an emergency fund apart from investments, I cannot comment on that, because it is part of your personal financial management. But when it comes to investing and you talk about creating an emergency fund for investment purposes, then I will say that it is not essential to have an emergency fund ready before starting investing.

When you do not have any investment fund, then why are you talking about creating an emergency fund to protect your investment fund? In fact, this is one of the reasons for delaying investment. It is not essential for anyone to prepare an emergency fund before starting investing. If you have the ability to provide more discretionary money that is possible to invest and create an emergency fund at the same time, then you can do so. However, at the beginning of investing, I would advise giving the most importance to investments, when the investment fund becomes significant, then give more importance to the emergency fund.

[Cryptoprincess101]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

How is it possible that we can be able to keep a backup fund at the start of our investment in bitcoin? i thought that it is after investing that we will begin to plan on how to raise back up funds from our discretionary income. Remember that our back funds are also emergency funds kept for urgent needs so that we don't touch our investment while we are still accumulating. At the start of the investment, the only thing needed is the discretionary income, any other funds that will be needed to facilitate the success of the investment will be generated from the discretionary income as time goes on, which will be determined by how much is left after our expenses have been settled.

[Princess Leah]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

How is it possible that we can be able to keep a backup fund at the start of our investment in bitcoin? i thought that it is after investing that we will begin to plan on how to raise back up funds from our discretionary income. Remember that our back funds are also emergency funds kept for urgent needs so that we don't touch our investment while we are still accumulating. At the start of the investment, the only thing needed is the discretionary income, any other funds that will be needed to facilitate the success of the investment will be generated from the discretionary income as time goes on, which will be determined by how much is left after our expenses have been settled.

So are you saying that someone should start raising emergency funds after they start investing in Bitcoin? Remember it's a funds meant for emergency situations so even people that are yet to start investing in Bitcoin should have it intact having an emergency or back up funds doesn't necessarily require someone to be a Bitcoin investor before they have it set up.
 
 The fact that it can  be generated from the discretionary funds doesnt mean an investor has to start investing in Bitcoin before raising it, the discretionary funds is basically the funds left over after settling the essential needs and should already be available even before investors had thought of Bitcoin investment, so don't get it all missed up so you don't get confused.

[Lembo69]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

How is it possible that we can be able to keep a backup fund at the start of our investment in bitcoin? i thought that it is after investing that we will begin to plan on how to raise back up funds from our discretionary income. Remember that our back funds are also emergency funds kept for urgent needs so that we don't touch our investment while we are still accumulating. At the start of the investment, the only thing needed is the discretionary income, any other funds that will be needed to facilitate the success of the investment will be generated from the discretionary income as time goes on, which will be determined by how much is left after our expenses have been settled.

It is very difficult to have a fund or implement this plan at the beginning of investing, if your source of income is small. If you want to create a backup fund from discretionary income, then it will be very difficult. But I will not say that it is impossible, it is certainly possible, but difficult.
The reality is that when you buy Bitcoin, you will probably buy it from your discretionary income source, which is what is left over after all your expenses. Based on that context, if your income is limited, then creating a fund before starting to invest may delay your investment. Or your investment may be hindered due to creating a fund.
An effective way to create a fund after starting to invest in Bitcoin is to invest some money using the DCA strategy for 3-6 months, and then focus on the fund. Because if your discretionary income is limited, even if you buy Bitcoin using the DCA strategy, you may have to buy a small amount.
And when you have deposited the equivalent of 3–6 months of salary in your fund, you can buy more Bitcoins and move further towards accumulating BTC.
But I would say that focusing only on creating a fund without investing at the beginning is a completely wrong decision.

[AYOBA]

I agree with you investment is not supposed to make someone forget about emergency funds because life itself is not balance. Anything can happen anytime. you can fall sick, family issues, you can lose your job  or unexpected expenses can come up. So if you invest all your money, especially in bitcoin that the price can fluctuate, it will be difficult to survive at that  moment without pressure.

The reason why some investors fall in such things is because they don’t plan themselves well when they come to investment in the Bitcoins, we all know that Bitcoin is reliable coin and that’s what make each everyone choose to invest or accumulate to hold a it for a long time. Because once thing about Bitcoin if you can able to be patience no matter how bad the market goes; it will come back normal that which can lead you to gain huge returns in future but that doesn’t mean we can not reserve any amount as something urgent might happen at any moment.

That is why it is essential for someone to build small reserve funds or keep some money for emergency needs before investing. Which it will definitely help them because you won’t panic to sell your bitcoin anytime you have emergency needs. Some people invest all their money in bitcoin because of greed or fear of missing out, but when unexpected problems comes in, it is the same investment that they will run to and sell in loss. Good financial planning needs balance, which is to invest for the future but also prepare for emergencies.

Those who don’t know how the Bitcoin investments works are the one enter the market without a proper plan or a financial commitment, and that’s most people’s don’t get what they want in Bitcoin investments people advise everyday that never invest with your last because you don’t know what will came up after the investment.

[Halifat]

Bitcoin investment can be done in any way, if the investor has the desire to invest in Bitcoin. Bitcoin investment can be done consistently if there is regular and desired income, we can further improve the discretionary income stream by investing in Bitcoin. Because if we invest in Bitcoin weekly by following the DCA method regularly, then surely the success of Bitcoin investment is possible.
And according to the DCA method, it is possible to keep Bitcoin investment for a long time, because only by keeping Bitcoin investment for a long time, success can be achieved

No investment is certain to be successful. So we can say that if we are able to hold Bitcoin for a long time, then there is a possibility of success.

Even if we adopt the best method, there is no certainty of success. DCA is an investment method through which we buy. The DCA method will never help you hold it for a long time, especially at a time when your financial crisis will arise. What we need to do is to take precautions against all possible disasters in advance so that when those crises occur, we can take precautions immediately and this crisis does not create any pressure on our investment.

There is no reason to overly emphasize the idea of emergency preparation, since we are talking about bitcoin, bitcoin investing and how to build our bitcoin investment, maintain it and perhaps increase the chances that our ongoing and consistent investment in bitcoin is going to end up giving us more options and putting us in a better place due to our ongoing investing into bitcoin rather than if we had not done so.

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

I don't see any reason why we should even talk about emergency fund when it comes to bitcoin investment, bitcoin investment is usually done to improve our lives and betterment of our future so why thinking of emergency fund again, we don't have to focus on all this things because there are so many things which we need to focus on when it comes to bitcoin investment. At least when it comes to bitcoin investment we should be thinking of how to gradually grow our bitcoin that is accumulating more Bitcoin, how to protect it and how do we maintain the consistence of accumulating it because this aspect is very important,

DCA strategies have make things easier for us to accumulate more Bitcoin and this is what some of us or almost everyone are using now because some people cannot be able to afford it if really they want to get it in a very big amount but this strategies do all the job. I think the most dangerous part when it comes to bitcoin investment is when we procrastinate, in this case we don't have to consider the price either high or low but the only important thing is to maintain the consistency.

[Muba20]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

How is it possible that we can be able to keep a backup fund at the start of our investment in bitcoin? i thought that it is after investing that we will begin to plan on how to raise back up funds from our discretionary income. Remember that our back funds are also emergency funds kept for urgent needs so that we don't touch our investment while we are still accumulating. At the start of the investment, the only thing needed is the discretionary income, any other funds that will be needed to facilitate the success of the investment will be generated from the discretionary income as time goes on, which will be determined by how much is left after our expenses have been settled.

You actually took @JJG point to another side, @JJG did not say that a backup fund is mandatory in the beginning. Rather, he actually said that people can start from where they are. Many may have the habit of keeping some backups, and even if they do not, they should also think about a backup fund along with Bitcoin accumulation. Even I agree here. Because even if there is discretionary income, it is not necessary to give the entire part of it in Bitcoin. Again, it should not be said that the backup fund will appear later. Suppose someone gets discretionary income at the end of the month. If he wants, he can give a part of that money in Bitcoin, and keep another part as a small backup or reserve. Again, if someone already has an emergency fund, he can give a larger part in Bitcoin.

[Brizi5000]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

How is it possible that we can be able to keep a backup fund at the start of our investment in bitcoin? i thought that it is after investing that we will begin to plan on how to raise back up funds from our discretionary income. Remember that our back funds are also emergency funds kept for urgent needs so that we don't touch our investment while we are still accumulating. At the start of the investment, the only thing needed is the discretionary income, any other funds that will be needed to facilitate the success of the investment will be generated from the discretionary income as time goes on, which will be determined by how much is left after our expenses have been settled.

So are you saying that someone should start raising emergency funds after they start investing in Bitcoin? Remember it's a funds meant for emergency situations so even people that are yet to start investing in Bitcoin should have it intact having an emergency or back up funds doesn't necessarily require someone to be a Bitcoin investor before they have it set up.
 
 The fact that it can  be generated from the discretionary funds doesnt mean an investor has to start investing in Bitcoin before raising it, the discretionary funds is basically the funds left over after settling the essential needs and should already be available even before investors had thought of Bitcoin investment, so don't get it all missed up so you don't get confused.

The emergency funds is a very vital funds for everyone no doubt about that because life is full of uncertainties and emergency happens unexpectedly and when it happens you sure needs something to lean back to in order to sort out the situation especially when it involves a life threatening situation. Now as regards to bitcoin investment, the emergency funds is needed to shield our investment or bitcoin holdings in Order for use not to tend towards selling off our bitcoin investment when in an emergency situation which could scatter our long term investment goal. On a standard basis, one will be needing at least 3-6 months of living expenses for emergency funds, and to most persons trying to put this amounts together could take them years to gather it, why to some who are extremely rich they can easily afford it at an instant.

However, not having the emergency funds ready shouldn’t be a problem or a reason why someone who have a discretionary income available not to start accumulating and investing in bitcoin, because what you only need to start investing in bitcoin is just a discretionary income which means that you can still go ahead to start buying bitcoin and hold once you are able to figure out a discretionary income and not to delay getting started with accumulating bitcoin simply because you’re wanting to build emergency funds where as you can be buying bitcoin and along side building your emergency funds by allocating some percentage of that your discretionary income to buying bitcoin and other percentage to keep for building up emergency funds gradually. You must not waste years prioritizing building emergency funds, those years being wasted could have been used to accumulate some good amounts of bitcoin and hold and still be building the emergency funds along side it.

[Baki202]

I agree with you investment is not supposed to make someone forget about emergency funds because life itself is not balance. Anything can happen anytime. you can fall sick, family issues, you can lose your job  or unexpected expenses can come up. So if you invest all your money, especially in bitcoin that the price can fluctuate, it will be difficult to survive at that  moment without pressure. That is why it is essential for someone to build small reserve funds or keep some money for emergency needs before investing. Which it will definitely help them because you won’t panic to sell your bitcoin anytime you have emergency needs. Some people invest all their money in bitcoin because of greed or fear of missing out, but when unexpected problems comes in, it is the same investment that they will run to and sell in loss. Good financial planning needs balance, which is to invest for the future but also prepare for emergencies.

Are there still people who think emergency funds are not important? But it's because it's the only thing that is keeping anyone from selling their funds at this point, because a lot of people sell because they don't have this in place, and it is not just about bitcoin investment, but it is also needed for someone to fall back on, because nothing is guaranteed. And the pressure is real, but with proper planning, then some holes can be easily filled because of proper planning, and people need to be ready because they don't even know how important the emergency fund is. After all, there is no two ways about it, and when you don't have it, then the next thing will be for you to sell whatever you have, and that is one mistake that holders make, they really rely so much on their confidence instead of following the process of emergency funds, and then follow it up with DCA.

[JayJuanGee]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our bitcoin investment through ongoing buying, we are likely in a position to be able to start from where ever we are at as long as we can make a determination that we have discretionary funds available... so perhaps when we start we had already had a practice of keeping some quantity of back up funds in the event that our expenses were to go up and/or our income were to go down, so we may well determine how much we might need to continue to build up those back up funds in light of our adding bitcoin accumulation into the mix.

How is it possible that we can be able to keep a backup fund at the start of our investment in bitcoin? i thought that it is after investing that we will begin to plan on how to raise back up funds from our discretionary income.

Are you suggesting that all newbies are starting from zero?

To me, that sounds quite unrealistic.  Sure there are some folks who are starting from zero, yet from my perspective I would think that most people, even very poor people, tend to have some amount of money that they already keep as a cash cushion.

Whatever they are building would start from where they are at and whatever resources that they already have in place that includes their assessement of the status of their already existing 9 factors.

They do not have to resolve all of their 9 factors prior to starting, yet I would think that they have some kind of a ballpark idea regarding what they got and what they don't got, and also their ability to assess whether or not they have discretionary funds.

Remember that our back funds are also emergency funds kept for urgent needs so that we don't touch our investment while we are still accumulating.

Sure.  Back up funds is a category that describes both emergency funds and reserve funds, and at the time a person starts investing into bitcoin, they might already have both of those, even if they might not call them by that name.  I would imagine that guys who might have goals to attempt to grow their bitcoin investment and their back up funds at a similar rate, they might have some mix/matching of the ideas/practices of which funds are emergency funds and which funds are reserve funds, and sure some folks might attempt to be more strict than others, and it will tend to be up to them in regards to how strict they are with their funds and their categorizing of funds, yet I would imagine that the longer that they do it, then the more likely they will end up falling into some kind of a groove that helps them to define the categories in a way that they consider to be comfortable for their own finances and/or psychology around these matters.

Whether they are correct or not in their categorizations may or may not get tested, since sometimes guys will end up getting stress tests in regards to emergencies that might happen or even great BTC price fluctuations that might contribute towards their becoming more emotional about their bitcoin investment.

At the start of the investment, the only thing needed is the discretionary income, any other funds that will be needed to facilitate the success of the investment will be generated from the discretionary income as time goes on, which will be determined by how much is left after our expenses have been settled.

Sure, yet there is no need to presume that everyone is starting from zero, and there can be guys who start to invest into bitcoin and they already have a lot of other investments and experiences investing, and there may be other guys who have finances (and even psychology) that is a total mess and they might be struggling to figure out if they even have discretionary funds that would allow them to invest or if they might have to sort out some of their own drama (and issues) before they are in a strong enough place to determine that they have a sufficient amount of discretionary funds to get started investing into bitcoin.

[edited out]

It is very difficult to have a fund or implement this plan at the beginning of investing, if your source of income is small. If you want to create a backup fund from discretionary income, then it will be very difficult. But I will not say that it is impossible, it is certainly possible, but difficult.
The reality is that when you buy Bitcoin, you will probably buy it from your discretionary income source, which is what is left over after all your expenses. Based on that context, if your income is limited, then creating a fund before starting to invest may delay your investment. Or your investment may be hindered due to creating a fund.
An effective way to create a fund after starting to invest in Bitcoin is to invest some money using the DCA strategy for 3-6 months, and then focus on the fund. Because if your discretionary income is limited, even if you buy Bitcoin using the DCA strategy, you may have to buy a small amount.
And when you have deposited the equivalent of 3–6 months of salary in your fund, you can buy more Bitcoins and move further towards accumulating BTC.
But I would say that focusing only on creating a fund without investing at the beginning is a completely wrong decision.

Getting started investing in bitcoin remains an important matter.

Sure you (and others) can get distracted into dumb shit, such as thinking that you need to build back up funds prior to getting started investing in bitcoin, yet it seems to me that you would be both distracted and failing/refusing to understand the importance of bitcoin investing as a priority.

Bitcoin investing can be done at the same time as building back up funds, and each person is free to determine the pace at which he emphasizes one versus the other or the extent to which he might try to build them at a similar rate.

Another thing with bitcoin is that we can consider the amount that we put in versus how much the bitcoin are worth, so there may well be considerable fluctuations in the value of the bitcoin in terms of its dollar value and how much we had put into it, and surely any of us could get distracted in one direction or another in term of our figuring out which one to emphasize (the back up fund and/or the bitcoin), so I am not even suggesting that guys are going to necessarily come to reasonable determinations in regards to figuring out how to balance their building of their bitcoin and their building of various back up funds, even though they are going to need to come to those kinds of conclusions within their own determinations, and surely we have already witnessed quite a few examples of guys who are so seemingly in love with the dollar that they believe that there is some kind of value that comes from building up their dollar (or other fiat) kinds of holdings in a way that is more focused on rather than making sure to be ongoingly building their bitcoin holdings in a way that is not overly whimpy.

But, yeah, in the end, choices of aggressiveness or whimpiness are totally within the discretion of each investor to figure out, and hopefully he does not spend 10 years investing in bitcoin and realize that he was way too whimpy and he cannot turn back the clock.  In bitcoin's history, we surely have a lot of examples of guys with a lot of regrets that relate to their chosen levels of aggressiveness and/or whimpiness... and once they have figured out their discretionary funds and if they have a range upon which they can invest into bitcoin or not, they only have themselves to blame for their whimpiness versus aggressiveness choices.

I agree with you investment is not supposed to make someone forget about emergency funds because life itself is not balance. Anything can happen anytime. you can fall sick, family issues, you can lose your job  or unexpected expenses can come up. So if you invest all your money, especially in bitcoin that the price can fluctuate, it will be difficult to survive at that  moment without pressure.

The reason why some investors fall in such things is because they don’t plan themselves well when they come to investment in the Bitcoins, we all know that Bitcoin is reliable coin and that’s what make each everyone choose to invest or accumulate to hold a it for a long time. Because once thing about Bitcoin if you can able to be patience no matter how bad the market goes; it will come back normal that which can lead you to gain huge returns in future but that doesn’t mean we can not reserve any amount as something urgent might happen at any moment.

That is why it is essential for someone to build small reserve funds or keep some money for emergency needs before investing. Which it will definitely help them because you won’t panic to sell your bitcoin anytime you have emergency needs. Some people invest all their money in bitcoin because of greed or fear of missing out, but when unexpected problems comes in, it is the same investment that they will run to and sell in loss. Good financial planning needs balance, which is to invest for the future but also prepare for emergencies.

Those who don’t know how the Bitcoin investments works are the one enter the market without a proper plan or a financial commitment, and that’s most people’s don’t get what they want in Bitcoin investments people advise everyday that never invest with your last because you don’t know what will came up after the investment.

Extensive planning does not have to happen prior to getting started investing in bitcoin, so long as the person figures out that they have discretionary funds available, then they can get the fuck started.    They can both work on their plans as they go, and they can also adjust their beginning position sizes, whether weekly or otherwise to potentially be relatively small as they are becoming more accustomed to both investing into bitcoin and hopefully also making sure that they are not investing beyond their discretionary funds and within a kind of reason that allows them to also consider how much of their discretionary funds they are going to be using for savings (back up funds) and/or for discretionary consumption.  The longer they invest in bitcoin, the more honed they can likely become in regards to how they are both managing their cashflows (including back up funds) and hopefully growing their bitcoin holdings through ongoing and persistent buying.

If they screw up, then hopefully their screw ups are not too big and they can learn from such screwups, since if they are serious about investing into bitcoin rather than just playing around, then they likely would be ongoingly making sure that they are investing within both comfortable and reasonable parameters and perhaps even honing various aspects of their 9 individual factors, too.

[edited out]

I don't see any reason why we should even talk about emergency fund when it comes to bitcoin investment, bitcoin investment is usually done to improve our lives and betterment of our future so why thinking of emergency fund again, we don't have to focus on all this things because there are so many things which we need to focus on when it comes to bitcoin investment. At least when it comes to bitcoin investment we should be thinking of how to gradually grow our bitcoin that is accumulating more Bitcoin, how to protect it and how do we maintain the consistence of accumulating it because this aspect is very important,

I doubt that emergency funds (or back up funds) are as complicated as you are making them out to be, and if you fail/refuse to maintain emergency funds, then you are quite likely not going to be able to build and hold your bitcoin for 4-10 years or longer since you are failing/refusing to assure that you are both investing within your discretionary funds and that you are prepared for situations in which your income might go down and/or your expenses might go up.

DCA strategies have make things easier for us to accumulate more Bitcoin and this is what some of us or almost everyone are using now because some people cannot be able to afford it if really they want to get it in a very big amount but this strategies do all the job.

If you want to be whimpy in your bitcoin investment, then it might be possible that you don't need any back up funds, yet even the amount of value of whimpy investors may well add up to be a lot of money and you could end up fucking things up if you are failing/refusing to make sure that you have enough funds to cover decreases in your income and/or increases in your expenses.

I think the most dangerous part when it comes to bitcoin investment is when we procrastinate, in this case we don't have to consider the price either high or low but the only important thing is to maintain the consistency.

Sure.  Delaying in buying bitcoin can be problematic, yet managing your cashflows with sloppiness and acting as if your cashflows (back up funds) do not matter is problematic too, and you may well be engaging in gambling rather than investing since you might not have good chances of being able to continue to build your bitcoin investment for 4-10 years or longer if you seem to not be paying sufficient attention (and providing protection) to potential fluctuations in your income and/or expenses.

[edited out]

The emergency funds is a very vital funds for everyone no doubt about that because life is full of uncertainties and emergency happens unexpectedly and when it happens you sure needs something to lean back to in order to sort out the situation especially when it involves a life threatening situation. Now as regards to bitcoin investment, the emergency funds is needed to shield our investment or bitcoin holdings in Order for use not to tend towards selling off our bitcoin investment when in an emergency situation which could scatter our long term investment goal. On a standard basis, one will be needing at least 3-6 months of living expenses for emergency funds, and to most persons trying to put this amounts together could take them years to gather it, why to some who are extremely rich they can easily afford it at an instant.

However, not having the emergency funds ready shouldn’t be a problem or a reason why someone who have a discretionary income available not to start accumulating and investing in bitcoin, because what you only need to start investing in bitcoin is just a discretionary income which means that you can still go ahead to start buying bitcoin and hold once you are able to figure out a discretionary income and not to delay getting started with accumulating bitcoin simply because you’re wanting to build emergency funds where as you can be buying bitcoin and along side building your emergency funds by allocating some percentage of that your discretionary income to buying bitcoin and other percentage to keep for building up emergency funds gradually. You must not waste years prioritizing building emergency funds, those years being wasted could have been used to accumulate some good amounts of bitcoin and hold and still be building the emergency funds along side it.

I don't see how you come up with 3-6 months as a "standard" amount of emergency funds, yet at the same time, you recognize that emergency funds might be starting at zero at the time that a guys starts to invest in bitcoin.  There is something incoherent about your proclamations, including how much emergency funds even make sense on a "standard" basis rather than describing some extraordinary reasons that so much emergency funds might be needed.. .

[Derekfunds]

I agree with you investment is not supposed to make someone forget about emergency funds because life itself is not balance. Anything can happen anytime. you can fall sick, family issues, you can lose your job  or unexpected expenses can come up. So if you invest all your money, especially in bitcoin that the price can fluctuate, it will be difficult to survive at that  moment without pressure. That is why it is essential for someone to build small reserve funds or keep some money for emergency needs before investing. Which it will definitely help them because you won’t panic to sell your bitcoin anytime you have emergency needs. Some people invest all their money in bitcoin because of greed or fear of missing out, but when unexpected problems comes in, it is the same investment that they will run to and sell in loss. Good financial planning needs balance, which is to invest for the future but also prepare for emergencies.

Are there still people who think emergency funds are not important? But it's because it's the only thing that is keeping anyone from selling their funds at this point, because a lot of people sell because they don't have this in place, and it is not just about bitcoin investment, but it is also needed for someone to fall back on, because nothing is guaranteed. And the pressure is real, but with proper planning, then some holes can be easily filled because of proper planning, and people need to be ready because they don't even know how important the emergency fund is. After all, there is no two ways about it, and when you don't have it, then the next thing will be for you to sell whatever you have, and that is one mistake that holders make, they really rely so much on their confidence instead of following the process of emergency funds, and then follow it up with DCA.

You are right emergency funds is very vital but it's not the only thing that is keeping investors from selling their Investment because it is not all the time we encounter emergency and honestly since I have been accumulating I have not really come across emergency that try to push me to the edge or point of selling my investment because on the other hand what I use to accumulate is my discretionary income not money meant for my expenses. Sometimes it is how we position ourselves and the things we do that will trigger emergency to come up though sometimes it comes regardless...

[Finebone]

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I don't see any reason why we should even talk about emergency fund when it comes to bitcoin investment, bitcoin investment is usually done to improve our lives and betterment of our future so why thinking of emergency fund again, we don't have to focus on all this things because there are so many things which we need to focus on when it comes to bitcoin investment.

Come on man, emergency funds is very important in Bitcoin investment because the survival of you Bitcoin investment depends on it, especially if you are an low or  average income earner. The only sets of people that can invest in bitcoin and be successful without having an emergency funds in place are the rich, because they have asset they can sell, rich friends, uncles and relatives they can contact for financial assistance during emergencies that may have compel them to sell their Bitcoin holdings, so we just can not stop talking how to put it down because it's very important for the survival of your bitcoin investment.

At least when it comes to bitcoin investment we should be thinking of how to gradually grow our bitcoin that is accumulating more Bitcoin, how to protect it and how do we maintain the consistence of accumulating it because this aspect is very important,

No need thinking too much about it mate, just start your accumulation as long as your discretionary income is available. You also spoke of protecting our Bitcoin investment, don't you know that having an emergency funds in place is a measure put in place to protect your Bitcoin investment?
If you don't know, that's the essence of emergency funds, which is to protect our Bitcoin investment.

[Jody.Drummer]

Investments made in general will be successful in the long term, because if we do it with a short or fast period of time it leads more to trading. However, this is also a challenge in itself because it is not easy to maintain bitcoin in the long term, we must really be able to maintain it and keep it so that we don't buy it and not long we sell it back. It will be safer if we have a clear income so that our investment will not be disturbed, because the thing that can happen with the investment we do is sell it when we need money, this is where the use of emergency funds must be prepared.

I don't understand what you meant by " investment made in general will be successful in the long term" folk will only be successful In Bitcoin if they follow the principles that is required and I disagree when you said it is not easy to maintain Bitcoin for long term though it may not be rosey but if you have your discrestionary income kept in place and some other necessaries I'm sure there won't be any challenge that will tend to pull you from accumulating or touching your investment and lastly you have to be determined and focused.

In general, what I mean is to do it consistently, because in my opinion people who invest in bitcoin consistently will succeed in the long run. And not easy here what I mean is when we invest but we don't have a steady income, or lose a steady income when we have started investing even though it can actually still be maintained also depends on how consistent we are in doing it. On the other hand, if we do have enough income as you said, it's a good situation because the investment should go well.

[Joeboy]

I don't see any reason why we should even talk about emergency fund when it comes to bitcoin investment, bitcoin investment is usually done to improve our lives and betterment of our future so why thinking of emergency fund again, we don't have to focus on all this things because there are so many things which we need to focus on when it comes to bitcoin investment. At least when it comes to bitcoin investment we should be thinking of how to gradually grow our bitcoin that is accumulating more Bitcoin, how to protect it and how do we maintain the consistence of accumulating it because this aspect is very important,

DCA strategies have make things easier for us to accumulate more Bitcoin and this is what some of us or almost everyone are using now because some people cannot be able to afford it if really they want to get it in a very big amount but this strategies do all the job. I think the most dangerous part when it comes to bitcoin investment is when we procrastinate, in this case we don't have to consider the price either high or low but the only important thing is to maintain the consistency.

I really don't think that you meant what you said... You can go ahead to approach you investment whatsoever and anyhow you please that entirely up to you... You don't have to see emergency funds as a burden coz it isn't at all, infact it is very important to an investor and even when you are not an investor... And how you build your emergency funds is entirely up to you, you could build it alongside your investment, which for me is actually the best....Now when you are investing in Bitcoin, you are meant to approach it with a long term mindset of say 4-10yrs+ right, but then again in the course of doing so, life could get so unpredictable that emergency situations could happen... And when that does, an investor is supposed to have a backup fund at hand which can be used for that emergency so that he/she wouldn't dip into their Bitcoin... Truth be told, dipping into your Bitcoin to settle emergency surely would break your long term plan and make you end up with a huge loss...

[Different patterns]

Bitcoin investment can be done in any way, if the investor has the desire to invest in Bitcoin. Bitcoin investment can be done consistently if there is regular and desired income, we can further improve the discretionary income stream by investing in Bitcoin. Because if we invest in Bitcoin weekly by following the DCA method regularly, then surely the success of Bitcoin investment is possible.
And according to the DCA method, it is possible to keep Bitcoin investment for a long time, because only by keeping Bitcoin investment for a long time, success can be achieved

No investment is certain to be successful. So we can say that if we are able to hold Bitcoin for a long time, then there is a possibility of success.

Even if we adopt the best method, there is no certainty of success. DCA is an investment method through which we buy. The DCA method will never help you hold it for a long time, especially at a time when your financial crisis will arise. What we need to do is to take precautions against all possible disasters in advance so that when those crises occur, we can take precautions immediately and this crisis does not create any pressure on our investment.

There is no reason to overly emphasize the idea of emergency preparation, since we are talking about bitcoin, bitcoin investing and how to build our bitcoin investment, maintain it and perhaps increase the chances that our ongoing and consistent investment in bitcoin is going to end up giving us more options and putting us in a better place due to our ongoing investing into bitcoin rather than if we had not done so.

I understand your point, the main reason of investing in bitcoin is to build a strong financial position gradually over time. And if people too fear about the emergencies funds can sometimes discourage people from even getting start, but consistency is very necessary when it comes to bitcoin accumulation because to invest in long term gives more opportunities than staying out of the market. but my opinion is that a little level of emergency preparation is still can be useful, not because we should live in fear, but it can help investors to remain calm and avoid selling bitcoin under pressure during any difficult positions or situations, but in my cases, or from my point of view consistent accumulation with reasonable financial preparation can help the person to stay invested for a very long term and also benefit more from bitcoin.

[Livingleged]

In many ways, when we first find out about bitcoin and/or when we first become inclined to start to build our
I don't see any reason why we should even talk about emergency fund when it comes to bitcoin investment, bitcoin investment is usually done to improve our lives and betterment of our future so why thinking of emergency fund again, we don't have to focus on all this things because there are so many things which we need to focus on when it comes to bitcoin investment. At least when it comes to bitcoin investment we should be thinking of how to gradually grow our bitcoin that is accumulating more Bitcoin, how to protect it and how do we maintain the consistence of accumulating it because this aspect is very important,

This is wrong actually, I don’t know how you’re looking at the whole idea or what back up funds means to your investment. Back up or emergency funds are what give your more confidence in you’re investment perhaps anything happened your investment will not sink or investment will not collapse. This is due to growth in your investment and expenses if you one have discretionary income without backup or emergency funds along it, what happens if your expenses  get high? Why the backup funds is necessary is to help you in that situation because you plan to hold bitcoin for long, you really have to put those backup fund as part of your plan. it must not necessarily mean you must have it to begin with your investment but as you’re going make sure those backup are secured ASAP along with side building your portfolio.