JJG’s Outline of Bitcoin Investment Ideas

[Grease5000]

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

Of course, many people want to invest in bitcoin, and rush to invest without building the emergency fund. The emergency funds is very important because, as an investor, you will be sure that you are investing from your discretionary fund, and not from the funds that are meant for other expenses. If new investors buy without having the backup funds, you might be forced to sell when you need money to cover other things.

However, as a long term investor, it requires patience, because bitcoin is a volatile asset and every long term investor is ready for any up and down during the market. And this is why it is advised to invest for a long term, instead of chasing short term profits. Having an emergency fund from the beginning makes you more comfortable and maintain your investment plan without experiencing any stress.

I think the balanced approach is to do both gradually. For me, once I can identify my discretionary income, I can start buying Bitcoin, even if my emergency fund is still small.

At the same time it important to have a backup fund incase of an emergency so rather than waiting for a perfect emergency fund or ignoring it completely, I prefer to build my Bitcoin position and emergency fund side by side.

[cyberninja2]

Surely, getting started is the real deal, and then setting a target of accumulation which includes a long term investment plan.

Even though we might argue that a back up fund is crucial and a most for every investment, yet, we cannot also forget the fact that we can actually start immediately without already having a back up funds, but by figuring out our discretionary income and starting, and slowly building the much needed back ups for your in investment.
Thus, waiting to get an emergency funds and other back up funds first before starting investments are all delay and may keep such investor away from starting at all.

This is absolutely true because when starting an investment someone must have a goal. Therefore when they want to invest their direction and objectives are correct and aligned with their initial planning. Accumulation must be meticulously implemented as many mistakes can occur ultimately leading to unintended consequences. The goal is to invest long-term so understanding the purpose of long-term investment is crucial.

While reserve funds are necessary they require a certain amount of time. Having a reserve fund is a very appropriate step or choice when times are tough. Although investing primarily with discretionary income reserve funds serve as a tool that can assist us when the situation presents itself as unfavorable as we as the individuals are always involved in Bitcoin investment.

There's no need to wait if we're interested in investing in Bitcoin as everyone knows that waiting means missing out on many opportunities which ultimately leads to people not investing in Bitcoin in the first place.

[icebar]

If a new investor has extra funds they can use that fund as an emergency fund and allocate a large part of their discretionary income to regularly invest in Bitcoin. If you don’t have an emergency fund when you start investing in Bitcoin you should set aside a small amount of discretionary income to cover emergencies.
It is important to deposit Bitcoin in the DCA method in the long term and to have an emergency fund to protect your holdings because while it is important to accumulate assets, it is even more important to focus on maintaining them because it is better to be prepared for emergencies that may arise.

If you don't have separate savings to handle the risk, you will fail to carry your holdings forward in the long term, because when you suddenly need money, you may have to sell your holdings to meet that need. Set aside a safe portion from your regular income to create a fund for emergencies, then invest the remaining money and feel free to keep your plans clear going forward.

We have several discretionary wants including buying Bitcoin as an investor, emergency funds, stocking your wardrobe and the rest, what you should do is figure out how many of your wants that the discretionary funds can cover when you have it. If buying Bitcoin and keeping emergency funds is your most important wants then you should priotize them, it is that simple and the amount to use for them is your personal decision. If you have discretionary funds I don't think that figuring out how much to us to buy Bitcoin will be a problem, you will decide how important your other wants are then do the math and share it. If you cannot meet up with lesser wants you should skip them and make sure that your major wants are taking care of.

Essentially, we must have good money management habits and attitudes. This will enable us to manage everything optimally, even in challenging situations. With proper money management, everything can be met, including investments, emergency funds, and personal needs. My advice is to think carefully before spending money. So, fulfill your needs first, then proceed with other things, sequentially, and within a predetermined amount. If you have discretionary funds or income, especially if you have stable finances, don't waste them. Once your needs are met, consider the future by investing.

You are right. Proper financial management does not mean that it only saves us from wasting extra money, but it creates a balance between meeting our current needs and future goals properly. Many people can face problems due to lack of management even if they have extra income. Because if there is no control over expenditure, there is more or less in all areas of money allocation. Again, many people can achieve financial stability in their basic needs, future goals and emergency preparations even from a moderate income through proper planning. Therefore, instead of spending the entire part of their discretionary income, a small part should be allocated for investment. So that the needs of current life and long-term financial security can be created together.

[Queen uloma]

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

Of course, many people want to invest in bitcoin, and rush to invest without building the emergency fund. The emergency funds is very important because, as an investor, you will be sure that you are investing from your discretionary fund, and not from the funds that are meant for other expenses. If new investors buy without having the backup funds, you might be forced to sell when you need money to cover other things.

However, as a long term investor, it requires patience, because bitcoin is a volatile asset and every long term investor is ready for any up and down during the market. And this is why it is advised to invest for a long term, instead of chasing short term profits. Having an emergency fund from the beginning makes you more comfortable and maintain your investment plan without experiencing any stress.

I think the balanced approach is to do both gradually. For me, once I can identify my discretionary income, I can start buying Bitcoin, even if my emergency fund is still small.

At the same time it important to have a backup fund incase of an emergency so rather than waiting for a perfect emergency fund or ignoring it completely, I prefer to build my Bitcoin position and emergency fund side by side.

Life does not give people chance to wait until you have saved all you need to save about your emergency fund before starting your investment. Because if you wait for the perfect time, you may end postponing your investment for years. So the best thing is for you to balance it, you can decide to divide your dictionary income into two parts, one part can be for bitcoin accumulation while the other parts can be for emergency funds. At that way you won’t miss opportunity to invest in bitcoin, and Still save for your emergency funds. The reason for this approach is that should incase  emergency happens, you have something to look unto, instead of rushing to sell your bitcoin at a poor price. So the goal  is not to choose between bitcoin and emergency fund. The goal is to build both bitcoin and emergency funds according to your capacity.

[Agbam]

We have many investors out there who can afford to build their backup fund before they invest, and we also have those who can build their backup funds within a month, so it definitely depends on your earnings. Bitcoin investment is not something you must do with all your income, you can buy according to your earnings, and don’t invest everything in Bitcoin. Even if it’s just $10 or $20 you can afford monthly or weekly, it can grow in value over time.

Yeah, it’s true but do you know that those who can not build their backup funds are more than those who can afford to build backup funds before investing? So in this case we should stop using that words that they need to have back funds before starting invest, because it will discourage most newbie’s that have interest to invest in the Bitcoin.

Guys are fucking retarded and/or gamblers if they start to buy bitcoin and they have absolutely no back up funds.

If they do not have back up funds then they cannot assure that they have discretionary funds.

If they do not have discretionary funds they cannot invest in bitcoin, since they would be using money that they need for their expenses.  

If they use money that is meant to be for their expenses, then that is gambling not investing.

There are probably already way too many guys who get into bitcoin, and they think that they are going to turn over their investment in a short time (such as less than 4 years), and that is trading (or gambling) - not investing.  I personally don't recommend either trading or gambling when it comes to bitcoin.

I do understand that there are some beginners who are not psychologically ready to commit to 4-10 years or longer, and I would not discourage those guys from investing into bitcoin, even though they are not able to commit, so long as they are using discretionary funds to buy bitcoin, since what can happen is that a guy can get started buying bitcoin and continue to look into bitcoin and thereby come to the realization that to be investing, the timeline is 4-10 years or longer.. ... So, it could take a bit of studying and looking into bitcoin before guys are able to figure out the difference between trading and investing and also come to realize that bitcoin is an investment, not a trade.

For sure, this thread is about investing and not about trading, even though surely from time to time, ideas about trading

I don’t understand why some people are still getting this issue a bit confused. The fact that we say you shouldn’t wait till you’ve built up your emergency or backup funds before you start doesn’t mean you can go in fully without having any backup.

If one is investing with his/her discretionary money, in many cases there’s already a financial flexibility, a small safety net in that you aren’t using 100% of your discretionary so even if you’ve not specified it, there’s a little backup for you.
One can also invest as well as build up the backup funds using the available discretionary funds.

Bitcoin isn’t a do or die affair and should never be funded using money meant for managing the home or other necessary bills. It’s something you can start small with the available discretionary and remain consistent, time compounds everything. Consistency and patience is key.

[Big Dirams]

Hopefully you can figure out ways to not talk about trading practices or products and you might learn what the thread is about.

You have ONLY been registered on the forum for slightly more than a year, so being in the red may well not be unusual, even if you started investing in bitcoin (if that is what you are doing?) around a year ago.

 Even guys who have been doing regular investing in bitcoin in the past 1-2 years may well be in the red, so being in the red should not be any kind of a meaningful problem for any guys who might be investing in bitcoin and who might have a 4-10 year or longer investment time horizon.

It is just so annoying at times when some members just jump into conversation without really taking a look at the main point of the conversation at all. Had it been they check the thread properly then even the topic alone proves the point of what going on in here.  

I agree with you many investors that invest within 1 to 2 years now are mostly in reds, this scenario is something that is common and totally normal. This situation is not just only him but so many others too, So no need for him to panic at all since the mindset is about holding for 4-10 years then surely no need to get moved by recent market volatility.
Being Patient is what matters during this  journey and not the short term outcome, keep constantly accumulating and have the long term goal.

[Sally9256]

The 3 months of basic expenses for emergency funds is absolutely a smart idea and with such approach we can see the journey would be less traumatizing and easily we can keep up with the constant accumulation because no more emergency that will pop up and won’t get sort out.  
Starting investing without options for emergency funds can be very risky but when we get it set aside then instantly it guide us from any unforeseen circumstances and also it save us a lot fortune by not seeing our holdings as an option to sell while investing.
  However the best long term approach is by long term holdings when we stay disciplined and hope for a 4-10 years of holding. That really brings much sustaining and sufficient value.

Wait what? Why is this a smart idea? honestly even though it's good, you will only hinder your investment considering that securing a reserve fund for 3 months is clearly not a short time so you actually miss a lot of time to buy bitcoin just because of the wrong focus in this case.

By the way, even a guy who might come to bitcoin for the first time, and if he is considering investing into bitcoin and he already happens to have 3 months of expenses in cash, then he may well need to consider that he has absolutely no bitcoin, and 3 months of cash, which on the face of it is largely an obvious imbalance, so he may well have to take half of that 3 months cash and allocate it to bitcoin and keep the other half as his back up funds.

So, then at that point, he has a lump sum that he can consider for three options of 1) buying right away, 2) DCA and/or 3) buying the dip

AT the same time, he likely would also be considering his anticipated income and how much discretionary income he expects with that, and he can consider the amounts to use to 1) invest, 2) save and/or 3) discretionarily consume.

Bitcoin Investment requires having the understanding to balance and manage your finances to sustain your investment. Many people misunderstand the whole investment process and think they need to have huge amount to invest or have their emergency funds in place to start buying Bitcoin. They also fail to understand that proper allocation of their funds is important to ensure there is balance in all areas of the investment and not done in a way that one area is neglected while the other is favored.

When you think of it, what benefits will having cash do without any Bitcoin? It's totally pointless to have 3 months expenses in cash when you have no Bitcoin because they are meant to serve as protection to Bitcoin. Yet, buying Bitcoin with all the money will also leave it too exposed with no protection when unexpected expenses comes. The whole situation is clearly unbalanced and just as you've said splitting up the cash to buy Bitcoin and also spare some for emergencies is best and will help create more balance. The idea is to not completely ignored one.

[Cgrexp]

Of course, many people want to invest in bitcoin, and rush to invest without building the emergency fund. The emergency funds is very important because, as an investor, you will be sure that you are investing from your discretionary fund, and not from the funds that are meant for other expenses. If new investors buy without having the backup funds, you might be forced to sell when you need money to cover other things.

However, as a long term investor, it requires patience, because bitcoin is a volatile asset and every long term investor is ready for any up and down during the market. And this is why it is advised to invest for a long term, instead of chasing short term profits. Having an emergency fund from the beginning makes you more comfortable and maintain your investment plan without experiencing any stress.

I think the balanced approach is to do both gradually. For me, once I can identify my discretionary income, I can start buying Bitcoin, even if my emergency fund is still small.

At the same time it important to have a backup fund incase of an emergency so rather than waiting for a perfect emergency fund or ignoring it completely, I prefer to build my Bitcoin position and emergency fund side by side.

Life does not give people chance to wait until you have saved all you need to save about your emergency fund before starting your investment. Because if you wait for the perfect time, you may end postponing your investment for years. So the best thing is for you to balance it, you can decide to divide your dictionary income into two parts, one part can be for bitcoin accumulation while the other parts can be for emergency funds. At that way you won’t miss opportunity to invest in bitcoin, and Still save for your emergency funds. The reason for this approach is that should incase  emergency happens, you have something to look unto, instead of rushing to sell your bitcoin at a poor price. So the goal  is not to choose between bitcoin and emergency fund. The goal is to build both bitcoin and emergency funds according to your capacity.

Not everyone needs to set aside an emergency fund, especially if they have all sorts of backup systems. Everyone can benefit from being better organized, but setting aside an emergency fund is even more important for poor people. The poorer a person is, the more organized they need to be. So that they don’t put themselves in a situation where they have to sell Bitcoin against their will. This requires consciously creating alternative funds and not assuming that they can do the same or similar things as the rich. When they don’t have the alternative systems that the rich have, especially if they don’t consciously create alternative systems and funds. When people take the time to organize themselves, buy Bitcoin, and build their alternative funds, they may also be motivated to find ways to increase their savings. They can build their discretionary funds by increasing their income or reducing their expenses. And there may be ways in which they can get a better paying job that will actually vary from person to person and depending on what resources they have available or what they can identify as being within their means.

[avp2306]

Emergency funds and/or back up funds is something that guys build up over time, so even if they are starting out with a small level of back up funds, their ongoing investing into bitcoin and simultaneously adding funds to their back back up funds will likely cause the back up funds to grow and grow and grow.

Some folks make the mistake of not investing in bitcoin early, their thinking is that they need to fully build their emergency fund before they start investing into bitcoin. Which is totally waste of time, as building emergency funds and investing can often happen side by side. Emergency funds are not just build over night. But they can grow gradually through consistent savings from one’s income, even if someone starts with small back up funds, the really important thing is to keep adding to it regularly, as time passes both of them the emergency funds and bitcoin investment can grow together, as back up always services as a protection against any unexpected expense, this balance the approach provides for investor to avoid the risk of selling their bitcoin during emergency. Inteadof choosing one over the other, individuals can focus on building both gradually, but the key is consistency and proper financial planning over the year.

Part of the advantage of setting up systems (such as places to source coins) and then even just little by little buying bitcoin and buttressing back up funds, is that it can take time, just to put systems in place.  Once the systems are in place then they can be increased or decreased and also a bit of an incentive to have vehicles to learn from.

And you are correct, because they maybe buy time to set up their system especially for looking at best reliable places to buy Bitcoin. But when they already know those reliable platforms and familiarized the system. Everything now will became smoother in their site and they can always adjust upon buying Bitcoin depends on their current financial capacity.

What real advantage for having those system is not about on how they are making their accumulation tried to became more smoother,  but this also give them structures or framework to learn about and learn to improve  any important points that can help them to build smoothly their Bitcoin investment.

[As-Soon-As]

Hopefully you can figure out ways to not talk about trading practices or products and you might learn what the thread is about.

You have ONLY been registered on the forum for slightly more than a year, so being in the red may well not be unusual, even if you started investing in bitcoin (if that is what you are doing?) around a year ago.

 Even guys who have been doing regular investing in bitcoin in the past 1-2 years may well be in the red, so being in the red should not be any kind of a meaningful problem for any guys who might be investing in bitcoin and who might have a 4-10 year or longer investment time horizon.

It is just so annoying at times when some members just jump into conversation without really taking a look at the main point of the conversation at all. Had it been they check the thread properly then even the topic alone proves the point of what going on in here.  

I agree with you many investors that invest within 1 to 2 years now are mostly in reds, this scenario is something that is common and totally normal. This situation is not just only him but so many others too, So no need for him to panic at all since the mindset is about holding for 4-10 years then surely no need to get moved by recent market volatility.
Being Patient is what matters during this  journey and not the short term outcome, keep constantly accumulating and have the long term goal.

Bitcoin must be held strongly for the long term, if someone panics and sells it, then he must be at a loss, this proves that short-term investment is never profitable. Rather, I say that Bitcoin should be held for at least two bull seasons, in which every investor will be 100% sure of profit.
Because Bitcoin investment must be held firmly and every strategy that needs to be followed to hold on to the future days must be followed, if you follow the strategy, it will definitely be possible to reach success.

[Sally9256]

Bitcoin must be held strongly for the long term, if someone panics and sells it, then he must be at a loss, this proves that short-term investment is never profitable. Rather, I say that Bitcoin should be held for at least two bull seasons, in which every investor will be 100% sure of profit.
Because Bitcoin investment must be held firmly and every strategy that needs to be followed to hold on to the future days must be followed, if you follow the strategy, it will definitely be possible to reach success.

You yourself seems to be after profits and it already shows you have a traders mindset. It doesn't matter how long you hold your Bitcoin profit are never guaranteed so stop misleading others here saying holding for at least 2 cycle guarantee 100% profit. You don't seem to understand the true purpose of investment that's why you are emphasize on holding for two bull seasons because you think you can milk out profits at that time.

You need to understand that Bitcoin investment is more about preserving wealth for the future and also know that profit is never guaranteed no matter how long you hold. So there's really no point stressing over profit that's not guaranteed.

[Big Dirams]

Bitcoin must be held strongly for the long term, if someone panics and sells it, then he must be at a loss, this proves that short-term investment is never profitable. Rather, I say that Bitcoin should be held for at least two bull seasons, in which every investor will be 100% sure of profit
Because Bitcoin investment must be held firmly and every strategy that needs to be followed to hold on to the future days must be followed, if you follow the strategy, it will definitely be possible to reach success.

You were on a reasonable track with your first point about holding bitcoin for long term and never to panic to sell but at the long run you end up diverting your point into the wrongful mindset of approach.
With this points of yours at the end part you end up misunderstanding the right approach towards bitcoin investment, short term or long term investments profits isn’t guaranteed at all no matter how long we hold the outcome is uncertain and the assurance you claim to make that 100% profits is sure is totally a misleading statement please know things you outer here please they’re new members coming to pick ideas from here.

Bitcoin investment doesn’t guarantee success or profits and never should you prioritize profits during the journey because that a traders mindset. Focus on the long term holding and never the short term benefits.

[JayJuanGee]

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

Of course, many people want to invest in bitcoin, and rush to invest without building the emergency fund. The emergency funds is very important because, as an investor, you will be sure that you are investing from your discretionary fund, and not from the funds that are meant for other expenses. If new investors buy without having the backup funds, you might be forced to sell when you need money to cover other things.

However, as a long term investor, it requires patience, because bitcoin is a volatile asset and every long term investor is ready for any up and down during the market. And this is why it is advised to invest for a long term, instead of chasing short term profits. Having an emergency fund from the beginning makes you more comfortable and maintain your investment plan without experiencing any stress.

I never said that newbies need an emergency fund before starting to invest in bitcoin, yet I did say that beginners need some back up funds so that they do not use non-discretionary funds to invest into bitcoin.

[edited out]

Surely, getting started is the real deal, and then setting a target of accumulation which includes a long term investment plan.

Even though we might argue that a back up fund is crucial and a most for every investment, yet, we cannot also forget the fact that we can actually start immediately without already having a back up funds, but by figuring out our discretionary income and starting, and slowly building the much needed back ups for your in investment.
Thus, waiting to get an emergency funds and other back up funds first before starting investments are all delay and may keep such investor away from starting at all.

Guys should not be starting investing into bitcoin with absolutely zero back up funds and/or emergency funds.  If you are a beginner and you invest 100% of your discretionary funds into bitcoin, and you otherwise have no back up funds (or emergency funds), then how is that going to work if you have any basic expense prior to your next paycheck?  And, what if your next pay check does not come in the amount you expected or it gets delayed?  What you going to do?

I personally believe that if someone has discretionary income, they can start buying Bitcoin while building a backup fund at the same time. For example, if I have $200 left after my expenses, I can put $120 into Bitcoin and save $80 as a backup fund. That way, I can grow my investment while also building  a backup fund for emergencies at the same time instead of delaying one for the other.

Yes, if you have the ability to create an investment fund and a backup fund at the same time, you can do it, and you are even free to do so. But not all of us have the same financial situation, some have more discretionary money than necessary, while others find it difficult to maintain the necessary discretionary money. In fact, not all of us have the same financial capacity, so the same advice may not work for everyone.

If you do not have discretionary funds, then you cannot invest in bitcoin, since if you buy bitcoin  that would be trading and/or gambling not investing.

You have to have discretionary funds in order to invest in bitcoin, so it doesn't matter if your situation is different or not.. if your situation is so different that you do not have discretionary funds, then you do not have enough money to invest in bitcoin.  You have to figure out some ways to increase your discretionary funds by increasing your income and/or decreasing your expenses.

At the same time, you believe that you have discretionary funds and you buy bitcoin with it, you cannot use 100% of the discretionary funds to buy bitcoin without having back up funds, since you would not be investing, you would be trading and/or gambling.  I don't recommend trading/gambling with your bitcoin, and this thread is about investing in bitcoin, specifically my ideas about bitcoin investing.

But what if your situation does not allow you to create an investment fund and a backup fund at the same time or it is not enough

Do you think that you are going to invest in bitcoin without any back up funds?   How is that investing? rather than gambling or trading?  How can you hold for 4-10 years or longer if you have absolutely no back up funds?

You are not making any sense with your question that presumes that you can invest into bitcoin without back up funds.

If you have no back up funds, then how are you going to know that you are not using money beyond your discretionary funds?  And if you are using non-discretionary funds to buy bitcoin, how is that investing? 

Maybe you need to think through your own questions Creeper0.

, then what do you do?

You do not invest in bitcoin until you have enough money that means that you have enough discretionary funds that also allow you to be confident that you are both not investing beyond your discretionary funds and that you are not using money that you need.  You are investing money that you can afford to lose.  If you cannot afford to lose it, then you don't have enough money to invest in bitcoin.

In that case, you can prioritize investment at the beginning, and when your investment fund becomes relatively valuable, you can prioritize the backup funds as investment protection. Because you already have some Bitcoin, it is not a problem if the amount of money allocated for investment decreases slightly.

You want to use your bitcoin investment as your emergency funds?  That does not sound like a good idea for a poor person, even though if a person is starting out with $1 million dollars (or the equivalent in bitcoin) then that might work o.k.

Also if the guy has a low expectation of an income, then if he starts out with even a lower amount, like $500k worth of bitcoin, then that might work to have all of that money in bitcoin if for example, he might be willing to draw around $3k per month from his bitcoin.. So if he were able to buy 7 bitcoin right now, and then planned to sustainably withdraw around $3k per month, then maybe in those circumstances, currently, he would not need any other cash and he could just start to live off of his 7 bitcoin and sustainably withdraw the bitcoin at $3k per month and give himself a 7% increase each year..

But focusing on the two funds at the beginning will result in relatively less Bitcoin in your investment fund,

Maybe you need to better explain. Do you have expenses in cash or not?  You expect to use 100% of your discretionary income and buy bitcoin with it and not to have any back up funds?  I have my doubts about your having had thought through how your plan is going to work.  Maybe you need to provide some specifics regarding how your plan is going to supposedly work?

so if you miss the opportunity to buy more Bitcoin at a low price due to the increase in the price of Bitcoin, you may be in a bit of a pickle. However, my advice would be, do not invest all of your discretionary money and allocate it to a backup fund, save some money so that you can spend it if necessary before you get your next month's salary.

You are contradicting yourself.  At first you said not to have back up funds, and now you are saying that there is a need for back up funds.  You come off as lost @Creeper0

[BluebloodCXVI]

There’s no need to reinvent the wheel when you can just follow existing strategies in the market. I actually adapted Michael Saylor’s approach for myself. Originally, he bought Bitcoin using a portion of his company's business revenues. Similarly, I opened a business account with Cryptomus and receive part of my payments in various cryptocurrencies. I almost always put the Bitcoin I get into staking. It’s safer that way—otherwise, I’d probably withdraw and spend it, but this keeps it locked away. However, I’m in the red this year. My average entry price is over $80K.

What has staking your bitcoin got to do with the OP of this thread?. Maybe you don’t know the purpose why this thread was created and perhaps if you had cared enough to read the OP well, you might caught a glimpse of it but now it turns out that you seem to be more concerned about doing advertisement for whatever brand or company you mentioned in your above write up than to actually contribute meaningful information to the discussion of this thread.

If you're starting your bitcoin investment without any form of backup funds then I think, you should start your bitcoin investment at the same time with building your backup funds. You don't need to wait after sometimes before you start sorting out little amounts gradually as emergency funds because there must be a balance between your bitcoin investment and your emergency funds.

No one has a crystal ball to know when emergency will happen that’s why it is good to be prepared and set aside backup funds while you’re still ongoingly stacking up your portfolio. Investing without backup fund is like a football team playing without a goalkeeper, they will definitely be exposed to multiple goals from the opposition team which will lead to loss for them. This same logic applies to bitcoin investment. Your investment needs a supporting system and that system is your backup funds.

[Jody.Drummer]

The 3 months of basic expenses for emergency funds is absolutely a smart idea and with such approach we can see the journey would be less traumatizing and easily we can keep up with the constant accumulation because no more emergency that will pop up and won’t get sort out.  
Starting investing without options for emergency funds can be very risky but when we get it set aside then instantly it guide us from any unforeseen circumstances and also it save us a lot fortune by not seeing our holdings as an option to sell while investing.
  However the best long term approach is by long term holdings when we stay disciplined and hope for a 4-10 years of holding. That really brings much sustaining and sufficient value.

Wait what? Why is this a smart idea? honestly even though it's good, you will only hinder your investment considering that securing a reserve fund for 3 months is clearly not a short time so you actually miss a lot of time to buy bitcoin just because of the wrong focus in this case.

By the way, even a guy who might come to bitcoin for the first time, and if he is considering investing into bitcoin and he already happens to have 3 months of expenses in cash, then he may well need to consider that he has absolutely no bitcoin, and 3 months of cash, which on the face of it is largely an obvious imbalance, so he may well have to take half of that 3 months cash and allocate it to bitcoin and keep the other half as his back up funds.

So, then at that point, he has a lump sum that he can consider for three options of 1) buying right away, 2) DCA and/or 3) buying the dip

AT the same time, he likely would also be considering his anticipated income and how much discretionary income he expects with that, and he can consider the amounts to use to 1) invest, 2) save and/or 3) discretionarily consume.

Bitcoin Investment requires having the understanding to balance and manage your finances to sustain your investment. Many people misunderstand the whole investment process and think they need to have huge amount to invest or have their emergency funds in place to start buying Bitcoin. They also fail to understand that proper allocation of their funds is important to ensure there is balance in all areas of the investment and not done in a way that one area is neglected while the other is favored.

When you think of it, what benefits will having cash do without any Bitcoin? It's totally pointless to have 3 months expenses in cash when you have no Bitcoin because they are meant to serve as protection to Bitcoin. Yet, buying Bitcoin with all the money will also leave it too exposed with no protection when unexpected expenses comes. The whole situation is clearly unbalanced and just as you've said splitting up the cash to buy Bitcoin and also spare some for emergencies is best and will help create more balance. The idea is to not completely ignored one.

You don’t need a large amount of money to invest in other words, you can start and make investments even with a small amount of money. Basically, once you’ve decided to invest, do it as soon as possible there’s no need to wait for a large sum of money. It’s better to adjust your investments to your own financial capacity, no matter how small the amount. I was once laughed at by a friend for starting with a small investment, but because I did it consistently, in the end my friend fell behind because they waited for a large sum of money to invest.

[Razmirraz]

Snip.

You don’t need a large amount of money to invest in other words, you can start and make investments even with a small amount of money. Basically, once you’ve decided to invest, do it as soon as possible there’s no need to wait for a large sum of money. It’s better to adjust your investments to your own financial capacity, no matter how small the amount. I was once laughed at by a friend for starting with a small investment, but because I did it consistently, in the end my friend fell behind because they waited for a large sum of money to invest.

I think your explanation is very accurate and realistic, as starting with a small amount of investment is far more profitable than waiting to accumulate large capital. You're on the right track. Starting to invest with a small amount also trains you to manage expenses and prioritize investments over other less urgent needs. This strategy is not just about saving money from your income, but also about building financial discipline because you are consistently investing. This is a habit that is often ignored by those (including your friends) who are waiting to have large amounts of money.
Those who wait for large capital are often trapped in the illusion of "the right time to start investing is when you already have a lot of money," whereas in practice, consistency and time or duration of investment are the main keys to achieving financial freedom in the future.

[Joeboy]

Bitcoin must be held strongly for the long term, if someone panics and sells it, then he must be at a loss, this proves that short-term investment is never profitable. Rather, I say that Bitcoin should be held for at least two bull seasons, in which every investor will be 100% sure of profit.
Because Bitcoin investment must be held firmly and every strategy that needs to be followed to hold on to the future days must be followed, if you follow the strategy, it will definitely be possible to reach success.

Holding Bitcoin for longer term durations whether it is during the bear market or say during the bull market, tends to put folks in much more better position, since they are very well investing and building up their portfolio rather than them reacting to Bitcoin shortterm price movement.. But even at that, that doesn't ascertain that folks will be profitable. Bitcoin is a highly volatile asset, and this means that profits aren't 100% guaranteed.... The benefits of long term investment above short term investment isn't because of profitability, rather it is coz long-term investment tends to gives ones the time for their investments to grow, and also makes it possible for folks to learn as they go without having to exclude themselves from their continuous investment....

[alankasman]

You don’t need a large amount of money to invest in other words, you can start and make investments even with a small amount of money. Basically, once you’ve decided to invest, do it as soon as possible there’s no need to wait for a large sum of money. It’s better to adjust your investments to your own financial capacity, no matter how small the amount. I was once laughed at by a friend for starting with a small investment, but because I did it consistently, in the end my friend fell behind because they waited for a large sum of money to invest.

I think your answer is quite accurate and there's no need for any more excuses for those who sometimes need a lot of money to invest. Investing doesn't require a large amount to start even with a small amount there's no need to wait. So in other words when you have the intention do it as soon as possible. Our goal is to be consistent in investing in Bitcoin even with small amounts but we always demonstrate our consistency.

Some of those who have felt successful in investing I think they also experienced the same thing as what we are doing now because everyone must have stages so that they can reach the peak after they have gone through various stages so that they can succeed as they feel now and also they may basically only have a strong intention and mentality in starting to invest so in making this investment is not a matter of capital or money in starting to invest but more towards the consistent attitude that we have so that with any amount we are still willing to invest in Bitcoin and what I can say is that it is not with a large amount of money that you can invest but our self-confidence to start investing even with a small amount but we are consistent in doing it.

[Different patterns]

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.

Even though it is important to get started investing in bitcoin as soon as possible, it makes little to no sense to start out with absolutely no emergency funds (back up funds).

At least some back up funds need to be present, otherwise a person cannot be sure that he is not investing into bitcoin with non-discretionary funds.  One of the requirements of bitcoin investing is to use discretionary funds - and don't be making dumb mistakes that relate to trading or gambling.. especially since investment in bitcoin should be considered to be 4-10 years or longer, even if in the beginning a newbie might not be ready, willing or able to establish his investment timeline to be 4-10 years or longer.

This is fantastic idea, this is not that someone needs to be fully funded or fully built emergency reserve before buying their first bitcoin or start their bitcoin early, but it equally important not to start with absolutely nothing set aside for any unexpected expense which is necessary, if there’s no backup fund, there’s is risk that money being invested into bitcoin is actually money that may be needed in the short period of time, because immediately the emergency arises that person may be forced to sell bitcoin at unfavorable time, turning what was supposed to be a long term investment into a short term. Furthermore, is not a goo idea that you must to have enough emergency fund before begin your bitcoin investment, both of them can go are same time, but just have little of emergency funds that’ll serve as protection, to ensure that the money going into bitcoin is truly discretionary funds, money that can actually remain invested for years without any form of financial stress.

Therefore, what necessary should be to build the both at the same time, steadily accumulate bitcoin while also growing your backup funds.

[cyberninja2]

You don’t need a large amount of money to invest in other words, you can start and make investments even with a small amount of money. Basically, once you’ve decided to invest, do it as soon as possible there’s no need to wait for a large sum of money. It’s better to adjust your investments to your own financial capacity, no matter how small the amount. I was once laughed at by a friend for starting with a small investment, but because I did it consistently, in the end my friend fell behind because they waited for a large sum of money to invest.

Your answer is correct. What's essential in investing is having the intention to invest so the amount isn't the main priority. For example someone might have a large amount of money but have no intention of investing at all. This indicates that it's difficult for us to start an approach to refer to someone who can invest. Therefore what's really needed in investing is the intention to start.

The problem of the amount can be done later and this does not mean that money is not necessary but more towards the intention and mentality that is most prioritized by someone to start investing in Bitcoin so that if you already have the intention of course with a small amount what is important is understanding how to maintain the investment that is done because the knowledge about how to invest is already owned so that if one day when you have a lot of capital or money it will certainly not be difficult anymore in investing especially by making long-term investments it will be more practical to do by someone who actually has experience and knowledge in the end you only need to control what you do on the investment to protect against the risks in investing in Bitcoin.