JJG’s Outline of Bitcoin Investment Ideas

[B-BossMan]

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.

I agree with you that bitcoin investment can actually be done at the same time as also building a backup funds, and to some extent, that approach works more even better. Theist paramount thing is just depends on the person's discretionary income, the financial stability and the person's personal choices, people do not necessarily have to choose between building an emergency funds over buying  bitcoin because both of them can still work together or gow together gradually and perfectly. Though some set if people may decide to focus more on building his emergency funds due to having a stronger financial security before begin thier investment, while some may prefer balancing the boths at the same time buy making saves aside and consistently buying the little amount of bitcoin with thier discretionary income. We still have some people today that may decide to invest into bitcoin aggressively and still contributing or keep some savings for backup. As such non of all these approaches are wrong, it's just depends on the person's financial responsibility.

In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

[alankasman]

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.

In fact, in investing in Bitcoin we don't need to be anxious about the risks that occur because every activity carried out not only in Bitcoin investments but in other areas also has risks in fact the risks that will be experienced by someone are greater. So if we hold on to faith, of course we will be more practical in investing in Bitcoin because we must know that in this investment, of course, someone must go through various things that will happen. So for people who don't have enough mental strength I think this is part of the difficulties they will face. It's better for them not to start investing because they are still afraid of the events they will receive. In other words, someone thinks more about the risks before starting instead of immediately investing even though the provisions of the events that will occur are unpredictable because sometimes we are wrong people who will not experience what we think if they start immediately. For me this is one of the ideas that is not useful for someone because the reason is more concerned with things that do not provide benefits that make others sometimes afraid to invest in Bitcoin.

Before investing in Bitcoin most people have prepared an emergency fund. This means the emergency fund serves as a tool to assist them in investing but this is merely a precautionary measure. Sometimes the emergency fund is not used at all because the investment is currently experiencing growth. This is something that is rarely done or considered by individuals ultimately leading to delays in investing in Bitcoin.
Essentially, every time we accumulate Bitcoin we will monitor the chart movement. This is to ensure we do not make mistakes in accumulating it especially if we don't accumulate large amounts. Clearly every time we accumulate Bitcoin we must also consider the essentials for the items we spend unless we have multiple sources of income. Therefore aggressively accumulating income from multiple sources will not be a problem as we accumulate sufficient funds for investment and for the things we are responsible for covering mandatory expenses.

[Dzwaafu11]

I In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

This are all plans that if someone really want to invest in Bitcoin will actually do without too much stress or even thinking on how to get what to invest.

However, ignoring backup funds will not be a wiser idea in my own opinion. So regardless of the amount the extra money will be the wisest thing is to invest what you can afford to lose.

Don't say it's extra money that you won't use soon, so you will invest all invest what you can afford to lose.

[Grease5000]

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.

You made a good point. For me, long-term Bitcoin investment is more about being able to hold comfortably than just buying that is one reason I stick with DCA. I just buy little by little from my discretionary income without stressing myself financially. I also believe emergency funds matter because it short out bill when unexpected expenses show up, and it also help prevent panic selling.

At the end of the day, consistency, patience, and proper money management are what really make the journey easier.

[Barikui1]

Before investing in Bitcoin most people have prepared an emergency fund. This means the emergency fund serves as a tool to assist them in investing but this is merely a precautionary measure. Sometimes the emergency fund is not used at all because the investment is currently experiencing growth.

This should be discouraged because it's not a proper way to invest in Bitcoin, because trying to put down emergency funds in place first before starting your Bitcoin investment will only delay your Bitcoin accumulation, instead it's more logical that you put down your emergency funds in place alongside your bitcoin accumulation, than focusing on putting down your emergency funds first, which will only delay your accumulation.

Secondly, your statement here looks like some investor invest with part of their emergency funds, I mean the statement I made bold in your write up. If that's the case, then it's a terrible way to go about their Bitcoin investment because the essence of emergency funds is to protect your bitcoin investment, so why using it to invest, by making your bitcoin holdings to be vulnerable to emergencies?
That's a bad way to invest in Bitcoin because such person is gambling with his Bitcoin holdings by investing with his emergency funds.

[ZeroVinsonN]

I In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

This are all plans that if someone really want to invest in Bitcoin will actually do without too much stress or even thinking on how to get what to invest.

However, ignoring backup funds will not be a wiser idea in my own opinion. So regardless of the amount the extra money will be the wisest thing is to invest what you can afford to lose.

Don't say it's extra money that you won't use soon, so you will invest all invest what you can afford to lose.

Ignoring backup funds will never be a good idea but you should also be careful to not misplace your priorities, if you already had them in place before you ultimately decided to start accumulating bitcoin then you are good but if you decided to start accumulating bitcoin and the reality hit you that you don't already have your backup funds in place you shouldn't halt on investment first because you want to set up your backup funds, you investment should take priority or better still do them together.
Your emergency fund should be the first you set up after which you can set up your reserve as well all while still accumulating bitcoin preferably with the DCA, you should only ever try to stop accumulating when you don't have the discretionary income to do do with, it shouldn't be because you think you don't have enough emergency fund yet so you want to stop investing so you can put more into your emergency fund, this is a wrong practice for an investor.

[cyberninja2]

...

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.

You made a good point. For me, long-term Bitcoin investment is more about being able to hold comfortably than just buying that is one reason I stick with DCA. I just buy little by little from my discretionary income without stressing myself financially. I also believe emergency funds matter because it short out bill when unexpected expenses show up, and it also help prevent panic selling.

At the end of the day, consistency, patience, and proper money management are what really make the journey easier.

It's better to do what you do because if you rush into it it certainly won't be good. Investing even with small amounts requires us to always ensure we do it consistently and don't feel burdened by Bitcoin investment.

More clearly we must have a stage in Bitcoin investment. Why? We must also consider our income. Unless we have two activities that provide sufficient income for us to do so it won't be a significant problem. Even forcing ourselves to invest isn't a problem because we are more financially prepared so even if we invest aggressively it won't cause significant problems. This is what we cannot do and we must have stages so that we do it time by time even with a small amount but we always prioritize consistent Bitcoin investment when we generate sufficient finances and we do it without any obstacles that make our minds confused so Bitcoin investment does not need to be forced, just when there is income do it as much as we can without burdening ourselves personally who do it even though it is collected over a long time it does not matter what is important we always do it with a consistent attitude that we show because it is quite right in the final answer you said that consistency, patience, seeing the cash flow that we have is an important part of investing in Bitcoin.

[Sobz]

In my won perspectives. I don't think someone must completely finish building a huge emergency funds before buying even $5 bitcoin, and at the same time I do not also think, it's wiser to put all thier extra money 100% of it into bitcoin and ignoring backup funds completely, moreover the best is to just to be building backup funds slowly and also take an advantage bitcoin accumulation gradually.

The way people talk about emergency funds is as if they are spending so much on buying Bitcoin, as if there is no emergency, and if any challenge happens the money they are about to use to buy Bitcoin will solve their problems becauseno emergencyfund. As a beginner starting Bitcoin investment, an emergency is not a reason to avoid investing because to some people it seems that because there is no emergency fund, there is no need to invest in Bitcoin. An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

[Futurexxx]

. As a beginner starting Bitcoin investment, an emergency is not a reason to avoid investing because to some people it seems that because there is no emergency fund, there is no need to invest in Bitcoin. An emergency fund can come later after a good amount of Bitcoin has been accumulated; it's something you need to plan for, and it doesn't just happen immediately when you want to start Bitcoin investment.

What if an emergency happens few weeks after you just start your Bitcoin accumulation, how are you going to go about it when you have not started putting down your emergency funds in place then?
How are you going to go about it?

Your idea is wrong because you are definitely going to sell off your investment if emergency struck that period, that's is why it is advisable that as a new investor that is just starting his or her accumulation, accumulating your Bitcoin alongside your emergency funds is a lot better, than pausing any of them to focus on one, because your Bitcoin investment needs an emergency funds for security, so putting it in place alongside your bitcoin investment is the ideal way.