JJG’s Outline of Bitcoin Investment Ideas

[Merit.s]

An emergency fund is a foundation of financial security that should be prioritized before focusing on investing in highly volatile assets like Bitcoin. Having an emergency fund is crucial because it prevents you from being forced to sell your Bitcoin at a loss during a market downturn (panic selling), or from experiencing financial loss and mental trauma. So, the analogy between Bitcoin and an emergency fund is like a supercar with brakes and seat belts. Supercars allow you to go fast under the right conditions, but without brakes, the risk of an accident is very high.

You don't need to make your emergency funds prior to your bitcoin investment because it's a backup funds to your bitcoin investment and not the opposite. Your bitcoin investment is prior to your emergency funds because as a no coiner, you need to be eager to be a low coiner.

Your bitcoin investment will take a lot of time before your can build it to a significant size which means that you need to ongoingly buy bitcoin overtime through DCA. However, there is a stage that you will build your emergency funds to which is at least three months of your expenses, you will stop building it but your bitcoin accumulation is a continuous process.

Emergency funds is in fiat and bitcoin is the opposite of fiat which is why you need to start to buy bitcoin first and build your emergency funds along side with your bitcoin investment because emergency may come or not is just that you need to be prepared for it in order to avoid selling your bitcoin when it's not of your own will.

 If you focus on building your emergency funds first, you will miss a lot of opportunities in the market that you should have used to build your bitcoin portfolio to a certain level. Remember time and bitcoin price waits for the man and delay is dangerous as a no coiner. You need to get started with your bitcoin accumulation when your discretionary income is available and build your emergency funds simultaneously with your bitcoin investment.

[Emjay24]

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.

It is a very bad practice too consider investing into Bitcoin from your emergency fund, it shouldn't be done at all, emergency fund is not for investing, it is for protecting your portfolio in the face of emergencies. You shouldn't put your portfolio in a vulnerable position by investing from the emergency fund which should protect it. If you've used up your emergency fund to buy Bitcoin and an emergency happens, you'll have no other option than tampering with your portfolio to get it solved and this is very bad.

Aggressiveness has nothing to do with multiple sources of income, you may have higher discretionary fund available, but what determines your level of aggressiveness is the percentage of the discretionary income you put into buying Bitcoin. You might have as large as $10k monthly discretionary income but if you put only $4k into buying Bitcoin, another person who puts $100 out of $200 discretionary income is more aggressive than you because he puts 50% of his discretionary income into buying Bitcoin and you put only 40% of yours.

[Showlove01]

. 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.

Some persons focus only on accumulating Bitcoin without considering real life emergencies, if an emergency comes up and there's no back funds most individuals will end up selling their Bitcoin at the wrong time building your emergency fund alongside your investment gives stability and helps one stay invested for long term.

An emergency fund is a foundation of financial security that should be prioritized before focusing on investing in highly volatile assets like Bitcoin. Having an emergency fund is crucial because it prevents you from being forced to sell your Bitcoin at a loss during a market downturn (panic selling), or from experiencing financial loss and mental trauma. So, the analogy between Bitcoin and an emergency fund is like a supercar with brakes and seat belts. Supercars allow you to go fast under the right conditions, but without brakes, the risk of an accident is very high.

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

[Ashawowo(OS)]

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.

I only have problem with this statement because it looks like intentionally leaving out your emergency fund until you've advanced well into your investment journey, it seems to me that you are predicting when you think you will start having emergencies, hence you would start building emergency fund from then and I believe you're wrong here because emergencies can occur anytime, even during the time you are not yet building it and if it does, you would use your portfolio as the emergency fund by liquidating part of it to solve the emergency. Tampering your portfolio is unhealthy for it's growth. I know it is good to prioritize your portfolio, but having no emergency fund puts it at risk and it would be worse if bitcoin price is lower than your entry point, then you sell at a loss to attend to the emergencies

It is only right you build your emergency fund alongside buying and holding bitcoin. If you can manage your cash-flow very well, you can give your portfolio the priority it deserves, as well as your backup funds since presence of backup funds decreases the chances your portfolio is tampered and in that case you can hold it for long while you keep adding to it consistently. you can always share your discretionary income into 3 parts, one part for investing into bitcoin, the second for savings which includes emergency fund and the third one for discretionary consumption.

[Big Dirams]

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?

In situations like this no need to panic or get frustrated at all. So long we have embark on our bitcoin investment journey then let stick to the discipline and and keep using our DCA strategy with our discretionary income,
just few weeks then emergency came up and no emergency funds on ground that shows that our discretionary income isn’t that huge so we need to find other means and look for funds to sort our emergency.
Positive suggestions is that we should manage our finances and try to minimize our expenses so we can have more discretionary income to be able to invest and build our emergency funds as well.  

On no account should we sell our bitcoin when emergency arise, find other options to settle the emergency and not thinking of selling our holdings. There would always be options but never should we touch our investment that a big discipline an investor should stick to so we wouldn’t have traders mindset.

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.

As long as we have embark on the journey of bitcoin investment, selling off our holdings shouldn’t be an option to think of at all, Never should you sell your holdings. As we have start the journey, no going back or taking steps back again we focus on building our holding with our constant accumulation.


Sitting back and waiting for our emergency funds before we can invest is a very negative decision and such situation leads to delay and procrastination so far our discretionary income are in check then we should proceed with our journey. Discretionary is the most important before investing that we need to set aside the others can come in during the process of investment.

On thing many of us don’t get is that our emergency funds is derived from our discretionary income so we need to make sure we are building much discretionary once in during our investment so we can get emergency funds and reserve funds sort out during the investment.

[Princess Leah]

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

A good point, all funds are important but to ensure that we meet our target as investors then the discretionary funds is the utmost priority cause that's what's used for investment an not any other, the emergency funds has it own role to play which is solving emergency situations, it's not like it's not important but concerning Bitcoin investment the discretionary funds is what matters most.

 Investor should know how to differentiate between both and know how and what to use them for, some people feel it's right to use the emergency funds for investing in Bitcoin, forgetting that life is unpredictable and anything can happen at anytime so if they invest with the emergency funds, what then would they use to solve emergency situations when it occurs, the discretionary funds?

 

[Silikiem]

. 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.

Some persons focus only on accumulating Bitcoin without considering real life emergencies, if an emergency comes up and there's no back funds most individuals will end up selling their Bitcoin at the wrong time building your emergency fund alongside your investment gives stability and helps one stay invested for long term.

An emergency fund is a foundation of financial security that should be prioritized before focusing on investing in highly volatile assets like Bitcoin. Having an emergency fund is crucial because it prevents you from being forced to sell your Bitcoin at a loss during a market downturn (panic selling), or from experiencing financial loss and mental trauma. So, the analogy between Bitcoin and an emergency fund is like a supercar with brakes and seat belts. Supercars allow you to go fast under the right conditions, but without brakes, the risk of an accident is very high.

Here you come again, you seem not to be following up with most of the beneficial ideas here by Jay Juan gee and other users here because if you do you won’t be saying that one should prioritize building an emergency funds first before getting started with bitcoin accumulation and investment. That statement could go a long way to mislead new intending investors not to start and drop their bitcoin investment ambition because they don’t have emergency funds or rather they may feel they must have to save up some cash first as emergency funds before they can start buying and investing in bitcoin. now let me ask you, is it bitcoin you’re investing on or you’re investing on emergency funds for you to first prioritize building the emergency funds before getting started in bitcoin accumulation and investment. For sure your intention is to invest in bitcoin, so why not just get started with accumulating the bitcoin first if you have the discretionary income available to do so instead of placing priority in building emergency funds first. I’m not saying that the emergency funds is not needed In bitcoin investment, but the truth is that not having the emergency funds ready shouldn’t be an excuse for not getting started in bitcoin investment. it’s advisable to get started first In bitcoin accumulation and investment once you have a discretionary income available and not to delay getting started by waiting to build up the emergency funds first, not having the emergency funds isnt a barrier for not getting started in accumulating bitcoin as you can start accumulating bitcoin and along the line build up the emergency funds or better still you allocate some percentage of your discretionary income to buying bitcoin and hold and the other percentage of the discretionary income to Saving up for building the emergency funds and other backup up funds gradually.

And again, the emergency funds is to help  protect our bitcoin investment so we don’t tend towards selling our bitcoin portfolio when in an emergency situation that needs cash to solve and not really because of market downturn. If you’re panicking to sell because you noticed a little market downturn then you’re a trader because that’s the mindset of traders aiming for quick profit and not real investor.

[Shadiq]

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

A good point, all funds are important but to ensure that we meet our target as investors then the discretionary funds is the utmost priority cause that's what's used for investment an not any other, the emergency funds has it own role to play which is solving emergency situations, it's not like it's not important but concerning Bitcoin investment the discretionary funds is what matters most.

 Investor should know how to differentiate between both and know how and what to use them for, some people feel it's right to use the emergency funds for investing in Bitcoin, forgetting that life is unpredictable and anything can happen at anytime so if they invest with the emergency funds, what then would they use to solve emergency situations when it occurs, the discretionary funds?

Just as every organ is important for our body, similarly every fund is important for investment. It is not enough to just move forward in investment, but it is also important to have a strategy for holding investment funds and a proper plan to hold them and take steps according to the plan. We cannot knowingly ignore or neglect even a small negative possibility. Basically, every fund included in the emergency fund or backup fund and discretionary fund should be given equal importance. Who knows, a small negligence may be enough to ruin your investment.

You may be firm in your promise, but when the situation forces you to invest, will your firmness in your promise still work? Maybe you may be forced to admit defeat to the situation. So I think it is wiser to be strategic than to be overconfident in yourself.

[Gost ms]

A good point, all funds are important but to ensure that we meet our target as investors then the discretionary funds is the utmost priority cause that's what's used for investment an not any other, the emergency funds has it own role to play which is solving emergency situations, it's not like it's not important but concerning Bitcoin investment the discretionary funds is what matters most.

 Investor should know how to differentiate between both and know how and what to use them for, some people feel it's right to use the emergency funds for investing in Bitcoin, forgetting that life is unpredictable and anything can happen at anytime so if they invest with the emergency funds, what then would they use to solve emergency situations when it occurs, the discretionary funds?

In the case of investment, all the necessary steps, it seems to me, are equally necessary. Because just as every organ in the human body is connected to the other and every organ is needed, in the case of investment and the steps that need to be taken to keep the investment safe and stable, we need to give the highest priority to everything. Because when we become more focused on one side and less focused on the other, we may be at risk of not managing that side properly and we should look at everything in the same perspective and take every step with evaluation.

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.

If the amount of emergency fund is zero, it is extra risky, so the emergency fund must be kept at the initial level. But I'm not saying to wait until you have an emergency fund to invest. If you don't have an emergency fund and you're willing to invest and you have $50 investable money, you can invest $30 out of that $50 and put $20 toward your emergency fund. Investing without an emergency fund is extra risky.

[GIF-JOBS]

. 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.

Some persons focus only on accumulating Bitcoin without considering real life emergencies, if an emergency comes up and there's no back funds most individuals will end up selling their Bitcoin at the wrong time building your emergency fund alongside your investment gives stability and helps one stay invested for long term.

An emergency fund is a foundation of financial security that should be prioritized before focusing on investing in highly volatile assets like Bitcoin. Having an emergency fund is crucial because it prevents you from being forced to sell your Bitcoin at a loss during a market downturn (panic selling), or from experiencing financial loss and mental trauma. So, the analogy between Bitcoin and an emergency fund is like a supercar with brakes and seat belts. Supercars allow you to go fast under the right conditions, but without brakes, the risk of an accident is very high.

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

Emergency fund is definitely important, but we have to start investing first, and we have to do this investment through discretionary income. Any investment requires discipline, if we can control everything through our financial management with discipline, then we can definitely continue investing. Investing is a long-term journey, so we should invest by ensuring our long-term holding and being prepared for emergencies, and investing definitely requires consistency, this is the most important thing.

[AYOBA]

It is a very bad practice too consider investing into Bitcoin from your emergency fund, it shouldn't be done at all, emergency fund is not for investing, it is for protecting your portfolio in the face of emergencies. You shouldn't put your portfolio in a vulnerable position by investing from the emergency fund which should protect it. If you've used up your emergency fund to buy Bitcoin and an emergency happens, you'll have no other option than tampering with your portfolio to get it solved and this is very bad.

Honestly but some investors think that using their emergency funds to invest in Bitcoin will allow them to get what they want in the Bitcoin investments which will never be done, and because of such things it better to for anyone who have interest to invest in the Bitcoin to use the amount of money that they can afford to lose; not after they’ve invested with their emergency funds they will later be indeed of money that’s what is leading a lots of people’s to break their investments without single profits.

[whiteblue]

Emergency fund is definitely important, but we have to start investing first, and we have to do this investment through discretionary income. Any investment requires discipline, if we can control everything through our financial management with discipline, then we can definitely continue investing. Investing is a long-term journey, so we should invest by ensuring our long-term holding and being prepared for emergencies, and investing definitely requires consistency, this is the most important thing.

An emergency fund is money we don't need when our finances are stable. I think thinking about an emergency fund from the start might be a good idea, but it's best to manage it once we have a good understanding of our investments.

We invest with discretionary income, meaning we've separated all our living expenses beforehand. So, to invest properly, we only need to buy with discretionary income.

There are also investors who buy immediately without considering other options. They're investing for the future, prepared for anything by not selling their BTC holdings. This means the money they invest in Bitcoin is unused money.

[SmartCharpa]

I think what we should prioritize in our Bitcoin journey is our discretionary income not really our emergency funds not that emergency funds is not important but the major thing is our discretionary income because it is what allows us to purchase and hold without our discretionary income there will be no Bitcoin investment ( I mean there will be no funds to accumulate). I don't know about others but if I'm using my discretionary income to accumulate whether there's emergency funds or not I won't be force or move to touch my investment because of Dip because already I have it in mind to hold for long.

Having a discretionary income is very important, and that should be the money you have left after taking care of your other needs. In that situation, if you end up losing, it will not affect you in anyway since you invested with money you can afford to lose. If an investor is buying with money they can leave somewhere for many years without affecting their needs, then I believe whether the market dips or not it will not force them to sell their holdings.

With a long term mindset, you have already prepared for changes in the market and you only buy with money you can afford to lose. Many individuals these days panic only because they invested with the wrong money, money meant to use for other expenses. If you have a long term mindset and you are not depending on your investment to survive, you will have no problem whenever the market goes down.

[Umulala-alala]

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.

Rich forks who has the money may already have the back up funds they need to explain that they already have e everything in place because they won't sell if there is any emergency but for some one who doesn't have emergency funds yet but has his discretionary income can start buying bitcoin and gradually build there back up funds along there accumulation process it's not mandatory that you must have first have an emergency funds before you can start investing in bitcoin. Again that didn't use your emergency funds doesn't mean that you don't have to make space for your emergency funds because we can't predict the future and emergency can come unexpected so to be in a safer side you will need to have your emergency funds it's what that protect your investment with out been sold early alone the way.