JJG’s Outline of Bitcoin Investment Ideas

[BRINIRHA]

I didn't even consider this because from the beginning like I said, I started from fomo so I didn't pay attention about the amount which is the most important thing I bought because I didn't want to be left behind by some of my closest people who bought first.

You run considerably great chances of fucking yourself if you are merely throwing money at bitcoin without both making sure that you are not investing beyond your discretionary funds and if you are not ongoingly making sure that you have sufficiently quantities of back up funds so that you can survive through periods in which your income might go down and/or your expenses might go up.

You have to protect yourself (perhaps from yourself?) since no one is going to give any shits about whether you lose money if you are not engaging in sufficient protections of yourself in regards to both your building of your bitcoin holdings and the ongoing building and strengthening of your back up funds.

Sure, it is not easy to build wealth.  It tends to take time, yet if you have decently good systems in place, you will be able to take advantage of any situations in which you are either able to invest more into bitcoin and/or even to increase your aggressiveness in buying bitcoin based on ongoing growing strength of your cashflow management systems/practices.

My initial thought was that if I bought quickly then I could make a quick profit too so I didn't look for any references because the most important thing was to buy.

That comes off as a trading and/or gambling mindset to me, since none of us really have any fucking clue if bitcoin is going to go up, down or sideways at any given time, and sure we have some reasonable expectations that bitcoin is amongst the best of places (if not the best?) to put value on an ongoing basis with a consideration that its price trajectory is going to ongoingly be up, especially on longer term time horizons such as 4-10 years or longer.  Yet, of course, there is no guarantee that bitcoin prices are going to go up, even if we do everything perfectly.  We have to figure out some balance so that we are more likely to be ongoingly building and also ongoingly protecting ourselves and our bitcoin stash.. especially as our bitcoin stash may well start to become bigger and BIgger and BIGGER... ..

so maybe in the first cycle or so, we might not really feel that our bitcoin stash is becoming big, yet with the passage of time, we likely are ongoingly learning how to hold it, and perhaps keep some bitcoin in cold storage, some in medum storage and other bitcoin that we might be willing to use, whether we are keeping it on chain or in some forms that we might be able to use it.... and yeah, in recent times, there do not seem to be as many guys using bitcoin, even though one of the powers of bitcoin is to be able to use, it, yet it does not seem to be a good idea to be spending bitcoin (except maybe spend and replace) when guys are still building up the size of their bitcoin stash.. which tends to take time, maybe even 4-10 years or longer.

If it is seen now after I have studied bitcoin and investing in it, indeed I do not want to deny that I made a move that was too hasty and even high risk, it is not wrong if you say that this sounds like gambling because in fact it looks like that but on the one hand I also feel grateful that my reckless initial decision can bring me to where I am now because if I did not make a purchase at that time maybe I would not have studied bitcoin afterwards but because of concerns about my money being lost (after buying) I became more active in studying bitcoin and the result is that I have survived until now.

But the more I tried to find more information, the more I knew how and what I should do, including the consideration of how much money we should spend so that we don't hamper our investment and life needs.

Good.  If you have been ongoingly learning as you go, then there still be various times in which any of us could have had made some mistakes or even had some wrong (and bad) ideas, yet if we were ongoingly learning and trying to put better practices into play, then it may well be the case that both our bitcoin holdings got larger and also our cashflow management systems/practices got stronger.

Slowly I evaluated the steps I took that I considered not very appropriate and today I am still in investment even though it all started from fomo. This proves that in the end it all comes back to each person regardless of how we start

Sure.  Some guys consciously try to learn and to improve their systems and practices, and other guys might give bitcoin and/or cashflow management a lower priority, and they may well end up making fairly large mistakes based on their not putting time and energies into considering what they are doing and making sure that their plans and practices are lining up with various aspects of their personal goals and specifics.  I personally like the idea of trying to put systems in place in which bitcoin buying is happening every single week no matter what... especially in the first couple years and perhaps for more than a whole cycle, since it tends to take so long to really build up bitcoin holdings, unless guys are able to front load their bitcoin investment based on other investments that they might choose to reallocate into bitcoin.  Otherwise, normal people are largely ongoingly working from their regular income, and so they might not have very many occasions in which they really are able to front load or lump sum.. even some guys who might have good jobs, they may or may not get yearly bonuses.  

From my perspective forcing yourself to buy every week or otherwise frequent basis helps to both reinforce action with theory and also provides motivation to learn from anything that might need to be adjusted, even if some guys might not engage in extensive reviews very often.. maybe once a quarter at most.  

And, even in your own situation, you have been registered on this forum for 4 years and presumptively in bitcoin during that time, so there are examples of so many guys who proclaim to get into bitcoin and they cannot even create some systems and/or practices that facilitate their lasting a whole cycle.

Because the steps we have taken are actually not too suitable to be regretted but used as evaluation material. That's what I did when I was in bitcoin, I realized that I started in a pretty bad way so as much as possible I tried to evaluate it so that I could do according to my beliefs (in bitcoin) but in a way that I could afford because in the end the risky purchase at the beginning was clearly a little burdensome and I tried to find other alternatives in terms of buying so that the initial method everything changed after I looked for more information on bitcoin.

Buying periodically or identical now is DCA every week is clearly a very positive thing because in the end the increase and mental confidence will also be increasingly felt here but of course the money that is the priority here is also important to be determined so as not to let weekly purchases actually burden us because we are unable to withstand risks and live life because we are too focused on purchases but forget other needs. So that consideration in managing cash flow becomes very important.

True, I bought almost 4 years before the last halving and I felt how panic when bitcoin experienced a decline (in the early phase) and I also felt proud when I arrived at some ATH before but that did not discourage me from stopping buying because currently I am still making purchases especially when bitcoin is experiencing a decline like today.

[Livingleged]

Let me ask you this question, do you prefer to have a huge backup funds and a small portfolio because of little discretionary income or do you prefer to have a huge portfolio and little or moderate backup funds? I want to believe this question is very simple and a wise someone will know what to chose over the other. How will an investor have lots of backup funds when you don't have a good portfolio I mean what are you saving the back up funds for?  So I will prefer to have a good discretionary income and good portfolio because that is the ultimate.

For me I see it a bit differently. A strong portfolio is important no doubt but a reasonable backup fund is also important too. The goal is not to choose one over the other, but it is finding a balance.

Personally, I would rather grow my portfolio steadily while also building a backup fund. That way, whenever  an emergency comes up, I won't be forced to sell my investments at the wrong time. Both work together to create long term financial stability.

It will be very unwise of a person to build a small portfolio and have a huge backup fund, I mean the fundamentals of your investment is building up your portfolio every other things is secondary. You know it’s so simple that no one is suppose to mix things up as regards bitcoin investment, firstly Get a stream of income. Doesn’t even matter how much the income is it at least it’s a cash flow go you on a regular basis it can be daily or weekly sometimes monthly, once you’re able to get an income you’re just a step ahead with you plan towards investment. The best thing is to identify your discretionary income the you will be using to start the investment, and you’re good to go. This are just the primary things that you need to go ahead with your investments ever other can be built while the investment has already started and going on.

[whiteblue]

It would be great if we took a bold stance in investing in bitcoin.

Just like aggressively accumulating when prices are falling, This approach accelerates the growth of Bitcoin in our portfolio.

However, If we fail to take the bold stance of Aggressive Buying, it will take a long time to accumulate Bitcoin. As I wrote in this Thread https://bitcointalk.org/index.php?topic=5581686.msg66670723#msg66670723

[Silikiem]

It would be great if we took a bold stance in investing in bitcoin.

Just like aggressively accumulating when prices are falling, This approach accelerates the growth of Bitcoin in our portfolio.

However, If we fail to take the bold stance of Aggressive Buying, it will take a long time to accumulate Bitcoin. As I wrote in this Thread https://bitcointalk.org/index.php?topic=5581686.msg66670723#msg66670723

For sure, aggressive buying is encouraged but buying aggressively should be done according to your financial capabilities. If an investor have the financial resources of buying bitcoin aggressively then it’s allowed to do so as far as he’s not over doing it by using cash meant to sort out his other basic financial needs. Buying aggressively is not only about the price falling as you can buy aggressively at any market price as a long term investor, what is important is doing it with your discretionary income.

[JayJuanGee]

Investment shouldn't just start with discretionary income, it should be done only with your discretionary income.
When a person wants to be aggressive in bitcoin it's actually up to them to do so, especially when their backup funds are already in place, with nothing else major dragging on their discretionary income they can absolutely go aggressive on their investment but this is because they've already set up their backup funds already

Your comment is a bit vague. Of course we need to start investing with discretionary income and we need to build an emergency fund, and whatever measures we need to take or fund to protect our holdings should be built from discretionary funds.

How aggressive we are depends entirely on our financial situation.

How aggressive we are or how whimpy we are depends upon our choice within our financial situation.

We choose our level of our aggressiveness within our capacity and within a range.

If we have $433 per month of discretionary funds.  We choose if we are going to put $0 to $433 per month into bitcoin or some amount in between those extremes.

Because if our financial situation is such that we can invest aggressively, then we can definitely invest aggressively.

If we have strong back up funds, then we are in a better position to be able to invest within the aggressive side of our capable range without getting ourselves into trouble. 

If we have weak back up funds or no back up funds, then it becomes way more risky for us to invest aggressively into bitcoin (meaning on the high end of the range of our possibilities) because we are more likely to end up overdoing it based on not having a sufficient cash cushion.

There are many people who invest without knowing the limits of their aggressiveness, and after some time they need that amount of money and they are forced to sell their holdings. So we should determine the level of aggressiveness depending on our financial situation.

Well, this part is true.  After we have subtracted out our basic expenses from our income, then what remains is our discretionary funds.  We can choose 1) to put those funds into our bitcoin investment, 2) to save and/or 3) to discretionarily consume.  It might not be a good idea to start out investing aggressive until we know that we can handle our chosen level without making mistakes that cause us to lose money or to unnecessarily stress ourselves in regards to how much funds we have available.  Yet, sure in the end, each of us makes our choices about how aggressive to be and if we make mistakes in regards to being too aggressive or being too whimpy, then we will pay the consequences of our choices, and sometimes we might not realize the consequences of our choices until several years down the road when we cannot turn back the clock and do it over again.

quote author=JayJuanGee link=topic=5376945.msg66791342#msg66791342 date=1780429618]

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.

What really stands out to me is that one might wasn't truly investing into Bitcoin, he was trying to outsmart the market the theory is that the mocked a method  focused on accumulation and the risks management yet end up making costly  traders mistakes of selling everything waiting for the right entering can cause one miss everything completely making a glamorous little purchase , can generate systematic profits but over time discipline usually beats prediction.
The part that really hits is how he went from 17  to 4–5 BTC, not because Bitcoin failed, but because timing the market repeatedly proved harder than expected. That's a lesson a lot of people learn the expensive way.

You quoted wrong Crytohillss.

I did not say the part that you quoted and attributed to me in your earlier post, even though you seem to be referring to the situation that I had described in my response in which I was referring to the person who went from 17 BTC to 4-5 BTC based on selling all his bitcoin in order to get "profits" when BTC prices had gone to $350 in October 2015

[Different patterns]

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.

What really stands out to me is that one might wasn't truly investing into Bitcoin, he was trying to outsmart the market the theory is that the mocked a method  focused on accumulation and the risks management yet end up making costly  traders mistakes of selling everything waiting for the right entering can cause one miss everything completely making a glamorous little purchase , can generate systematic profits but over time discipline usually beats prediction.
The part that really hits is how he went from 17  to 4–5 BTC, not because Bitcoin failed, but because timing the market repeatedly proved harder than expected. That's a lesson a lot of people learn the expensive way.

All these little mistakes delay some people to miss out the opportunities. The biggest mistake some people make is to believe they need large amounts of funds to before they can begin their investment, while investing is not about how much you begin with, is all about how early you start, how consistent you are. because a little investment can made a day more valuable than a larger investment made year later, because I believe that time is the one of most important element in building wealth, but immediately you start your bitcoin investment early, that mean you give yourself more opportunities to accumulate more bitcoin and learn from experience.

But some folks can spend a year’s still waiting for large amount before they start. Meanwhile people who start with whatever they can afford, you will see them keep making progress little by little, sometimes the amount may seem small but consistency can turn small thing into something meaningful over time.

[Alpha Marine]

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.

And Bitcoin is so liquid that if an emergency comes, you can still sell that Bitcoin immediately to solve that problem if it's necessary. It's not like once you've bought the bitcoin, there is nothing you can do, no matter the situation you find yourself.
I understand that Bitcoin holding is best for the long term, but that doesn't mean that if you get into a situation where you need to sell your Bitcoin to solve a serious problem, you shouldn't sell it. It's okay to have an emergency fund, but that should not be the reason you don't hold bitcoin.

[DubemIfedigbo001]

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.

What really stands out to me is that one might wasn't truly investing into Bitcoin, he was trying to outsmart the market the theory is that the mocked a method  focused on accumulation and the risks management yet end up making costly  traders mistakes of selling everything waiting for the right entering can cause one miss everything completely making a glamorous little purchase , can generate systematic profits but over time discipline usually beats prediction.
The part that really hits is how he went from 17  to 4–5 BTC, not because Bitcoin failed, but because timing the market repeatedly proved harder than expected. That's a lesson a lot of people learn the expensive way.

Bitcoin has not failed any investor, but rather their consistent attempts to smart their way up to earning short-term profits eludes them the bigger gratification that comes from long-term holding. His friend ended up with fewer BTC because of unnecessary trading practices which made him sell off to buy back cheaper but unfortunately, it didn't really play out like he had anticipated. This reminds us that no one can accurately predict the market and trading is never the best way to go about bitcoin. Nothing beats consistency in accumulation and a long-term holding plan. Of course it was sad to his friend that he ended up with fewer BTC than supposed because of his gamble with his portfolio, but it is a lesson to investors here that engaging in trading practices and gambling with your portfolio when you should be a committed investor and holder can be very derogatory to your portfolio and can incite you to sell too many sats at a time you didn't choose and possibly end up with fewer BTC and filled regrets and also wishing you could get back to having them, but sadly opportunities lost hardly comes by as easily as before.

[Sticky Bomb]

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.

And Bitcoin is so liquid that if an emergency comes, you can still sell that Bitcoin immediately to solve that problem if it's necessary. It's not like once you've bought the bitcoin, there is nothing you can do, no matter the situation you find yourself.
I understand that Bitcoin holding is best for the long term, but that doesn't mean that if you get into a situation where you need to sell your Bitcoin to solve a serious problem, you shouldn't sell it. It's okay to have an emergency fund, but that should not be the reason you don't hold bitcoin.

If you practice good cashflow management, you may have no need to sell your bitcoin when there is an emergency, this is because you would have your emergency fund which is kept specifically to attend to emergencies. If you hold bitcoin, then you should have an emergency fund to protect it, both should go hand in hand. If you don't have emergency fund, then your portfolio becomes one in the event of an emergency which is very wrong and comes off as leaving your portfolio vulnerable. Bitcoin is to be held for long and not tampered anytime you've an emergency and that necessitates having an emergency fund to protect your bitcoin portfolio while you progress in your accumulation journey.

The only time it is justified to tap into your portfolio is when you've an emergency which is so large that it has eaten up all your emergency funds and cash reserves, then your portfolio becomes your last option which you can sell part of it to settle the emergency. You need to make proper plans to replace what you sold when you're finally back on your feet.

[Alonso_]

It would be great if we took a bold stance in investing in bitcoin.

Just like aggressively accumulating when prices are falling, This approach accelerates the growth of Bitcoin in our portfolio.

However, If we fail to take the bold stance of Aggressive Buying, it will take a long time to accumulate Bitcoin. As I wrote in this Thread https://bitcointalk.org/index.php?topic=5581686.msg66670723#msg66670723

Personally to me it seems like you find buying the dip very attractive, because talking about being aggressive now that we have the price of bitcoin coming down means that you’re laying emphasis on buying the dip, anyways nothing is wrong in buying the dip, but I hope you’ve not been waiting for a dip before buying bitcoin, because it presents a different opportunity of buying bitcoin on a cheaper price, which is why it’s very important to understand how bitcoin works, there is no time that you can’t buy aggressively considering that you have the availability of discretionary funds to be aggressive, and you should understand that you’re meant to be aggressive and be careful and cautious and also know your limit of aggressiveness before you get yourself into a mess, know when to be aggressive and when to buy with your existing plans.

[Jody.Drummer]

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.

So, with a firm intention, you must take action, even if it's a small amount. Consistent action will yield results, rather than waiting to buy with a large amount of money, even if it's uncertain when it will happen. For example, buying when the price drops, which we don't know when it will happen. A method or strategy that can be used to accumulate small amounts of money is DCA, especially if you're a beginner this strategy is highly recommended. Waiting for a large amount of money may just be a waste of time, but everyone has their own right to do it in their own way, but if it is recommended, it is better to start with a small amount of money and do it with a consistent DCA strategy.

[Barikui1]

It would be great if we took a bold stance in investing in bitcoin.

Just like aggressively accumulating when prices are falling, This approach accelerates the growth of Bitcoin in our portfolio.

However, If we fail to take the bold stance of Aggressive Buying, it will take a long time to accumulate Bitcoin. As I wrote in this Thread https://bitcointalk.org/index.php?topic=5581686.msg66670723#msg66670723

I wouldn't necessarily say that being aggressive is wrong, but if you are going beyond your discretionary income, that is wrong, because aggressive accumulation with the wrong funds or beyond your discretionary income will be problematic to your Bitcoin investment later in the future, but if you are doing it within the confinement of your discretionary income, then their is no problem about that.
As for dip buying, it's also not a problem if you are not waiting for it before buying, because it's unwise pausing your accumulation and hoping to buy at a dip that we are not sure when it may come, so it's an unwise thing to do, which we should not engage ourselves in.

[Big Dirams]

If we have strong back up funds, then we are in a better position to be able to invest within the aggressive side of our capable range without getting ourselves into trouble. 

If we have weak back up funds or no back up funds, then it becomes way more risky for us to invest aggressively into bitcoin (meaning on the high end of the range of our possibilities) because we are more likely to end up overdoing it based on not having a sufficient cash cushion.

Right, if an investors back up funds is absolutely not strong then such investors easily get open up to high risk but when the back up funds is strong and totally sufficient then the aggressive buying is a positive approach.

Some investors doesn’t even check if their back up funds is strong enough for aggressive buying they just go into aggressive buying hoping to see a satisfying outcome but they end up in the negative side. Aggressive buying isn’t just what we  wake up one day and go for it we need strong back up funds to keep the risk minimal.

[Akaenyi]

It would be great if we took a bold stance in investing in bitcoin.

Just like aggressively accumulating when prices are falling, This approach accelerates the growth of Bitcoin in our portfolio.

However, If we fail to take the bold stance of Aggressive Buying, it will take a long time to accumulate Bitcoin. As I wrote in this Thread https://bitcointalk.org/index.php?topic=5581686.msg66670723#msg66670723

I wouldn't necessarily say that being aggressive is wrong, but if you are going beyond your discretionary income, that is wrong, because aggressive accumulation with the wrong funds or beyond your discretionary income will be problematic to your Bitcoin investment later in the future, but if you are doing it within the confinement of your discretionary income, then their is no problem about that.
As for dip buying, it's also not a problem if you are not waiting for it before buying, because it's unwise pausing your accumulation and hoping to buy at a dip that we are not sure when it may come, so it's an unwise thing to do, which we should not engage ourselves in.

There is no problem with aggressive buying if it is what you want and you have sufficient discretionary funds to fund it but if you don't have sufficient discretionary funds you should suspend it. I think that we should first focus on buying Bitcoin with amount that we can comfortably afford from our discretionary funds, if there is surplus funds at our discretion then we can go for aggressive buying.

I believe that it is due to the zeal of accumulating many Bitcoin so that it will generate enough profit that drives many people to want to buy aggressively. It doesn't matter what you feel about having a large accumulation of Bitcoin if you cannot afford to buy aggressively it is better to avoid it and concentrate on what you can afford. Always priotize your basic expenses before any discretionary expenses.

[Muba20]

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.

And Bitcoin is so liquid that if an emergency comes, you can still sell that Bitcoin immediately to solve that problem if it's necessary. It's not like once you've bought the bitcoin, there is nothing you can do, no matter the situation you find yourself.
I understand that Bitcoin holding is best for the long term, but that doesn't mean that if you get into a situation where you need to sell your Bitcoin to solve a serious problem, you shouldn't sell it. It's okay to have an emergency fund, but that should not be the reason you don't hold bitcoin.

If someone doesn't start saving Bitcoin because they don't have an emergency fund, it's not a good decision. But if you're planning to do so because you think Bitcoin is liquid and can be sold in an emergency, then that could actually be a very weak plan for saving in the long term. Bitcoin may be liquid, but since we're talking about holding it for the long term, being a liquid asset and being an emergency fund are not the same thing. Planning to use long-term savings as an emergency fund can actually put you at risk of being forced to sell when the market is down. Because you might be forced to sell at a price that would likely ruin your long-term plan and put you in a loss. The main function of an emergency fund is probably to protect you from being forced to sell. If you plan to sell Bitcoin in an emergency, then I'd assume your investment plan is still pretty weak. A better plan would probably be to build an emergency fund alongside your investments and forget about your plan to sell Bitcoin in an emergency forever.

[alankasman]

Right, if an investors back up funds is absolutely not strong then such investors easily get open up to high risk but when the back up funds is strong and totally sufficient then the aggressive buying is a positive approach.

Some investors doesn’t even check if their back up funds is strong enough for aggressive buying they just go into aggressive buying hoping to see a satisfying outcome but they end up in the negative side. Aggressive buying isn’t just what we  wake up one day and go for it we need strong back up funds to keep the risk minimal.

In my opinion this isn't just for investors but more generally. Anyone who lacks backup funds will also face risk. Therefore I say this isn't just for investors but for everyone who invests. However when investments aren't supported by backup funds they accept risk more quickly ultimately disrupting their purchases. They usually make quite aggressive investments. However when problems arise the lack of backup funds further diminishes that aggressive approach leading to a more negative approach arguing that they can't continue doing what they used to do.

This means they invite more problems because they engage in aggressive behavior without considering their own preparedness. The problems they encounter are created by the investors themselves. Ultimately what they often do can no longer be as aggressive as possible because they never assess or verify their existing strengths to see if they can still do it as usual. Therefore it is always recommended that when investing there is no need to rush just to avoid things that don't align with our expectations.

[Charcol]

It would be great if we took a bold stance in investing in bitcoin.

Just like aggressively accumulating when prices are falling, This approach accelerates the growth of Bitcoin in our portfolio.

However, If we fail to take the bold stance of Aggressive Buying, it will take a long time to accumulate Bitcoin. As I wrote in this Thread https://bitcointalk.org/index.php?topic=5581686.msg66670723#msg66670723

You are actually associating the term "aggressive buying" more with price falls. In my opinion, being aggressive or wimpy does not depend on whether the price has fallen or risen. It actually depends on your discretionary income, cash flow, backup funds, expenses, risk tolerance and how much you have the ability to hold on to it in the long term. If you are being aggressive just because the price of Bitcoin has fallen, then that may actually be a market timing mentality.

Another thing is that aggressive or wimpy is not an absolute amount. Rather, in my opinion, aggressive means how much of your discretionary funds you are putting into Bitcoin savings. It is also important to be careful not to put your cash flow, urgent needs or future expenses at risk by being aggressive.

[The Founding Titan]

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.

It's actually the smart way to go about it, don't sideline one because of the other when you have the discretionary income to build the two together, sometimes people are more into being aggressive in their investment to the point where they want to put all of their discretionary income into their investment without thinking about setting up their backup fund as well, they simply want to accumulate bitcoin as much as postad quickly as possible, if you have the discretionary income then you would be better off just doing the two side by side.

Let me ask you this question, do you prefer to have a huge backup funds and a small portfolio because of little discretionary income or do you prefer to have a huge portfolio and little or moderate backup funds? I want to believe this question is very simple and a wise someone will know what to chose over the other. How will an investor have lots of backup funds when you don't have a good portfolio I mean what are you saving the back up funds for?  So I will prefer to have a good discretionary income and good portfolio because that is the ultimate.

I also believe what I said was simple enough for people to not misunderstand but I guess I was wrong to believe that, I did not in any way say you should prioritize your backup funds over your investment, all I pointed out was that people who have the discretionary income shouldn't be solely focused on accumulating as much bitcoin as possible without even trying to set up their backup fund as well, there is absolutely nothing wrong with buying bitcoin as setting up your backup funds together, you are accumulating for possible over 10 years and there is not way you will be spending that much time setting up your backup fund as well, you need around 3 months worth of your expenses for your emergency fund and your reserve fund sometimes doesn't even need to be that much, how long is it going to take to finish setting that up? Let's just say 2 years after which you can concentrate completely on your investment while occasionally replenishing your backup funds whenever you use them for their purposes.
So to answer your question I would prefer my bitcoin portfolio to be much higher than my backup fund and what that means is that even though I have more in bitcoin i still have a backup fund unlike maybe someone like you who doesn't see the value of having a backup fund.

[ZeroVinsonN]

You’re absolutely correct, not having a backup funds is more like gambling, because as a long time investor it’s more important to to have a backup funds, else you will be gambling with your bitcoin investment, having a backup funds doesn’t mean that you will have to start building a backup fund before you start investing in bitcoin, like it’s been said previously, as soon as you have a discretionary income get started with investing in bitcoin, then you can start building your backup funds afterwards, it’s very important to have a backup fund as a long term investor, talking about being aggressive, there is nothing wrong with being aggressive in a good way, and being cautious as well and also knowing your limits of aggressiveness.

You are right, the backup fund is one of the security measures provided by the investment fund. If this security measure is weak, the investment fund will definitely be at risk. However, it is not necessary to prepare the backup fund before investing or delay the investment to prepare the backup fund, rather, you can allocate some of your discretionary money for investment and some for the backup fund. Just as investment is important, backup funds are also important to protect the investment. To be successful in investment, increasing investment is important to achieve goals, and even more important is to maintain investment.

To be aggressive, it is important to be aware of our capabilities. It is important to have knowledge about how much we are able to be aggressive and how much aggressive we will be able to manage financial management normally after being aggressive in investment. There is nothing wrong with being aggressive in investment, but it is important to know about the capabilities. If you are more aggressive in investment than you are able, that effect can be on the investment.

I don’t really agree on this, sometimes we focus so much on back up fund and actually forget to invest. Everyone who is intrested in bitcoin top priority should be to invest, we should focus on investment so far we have a discretionary income. Backup fund is something we can build along the journey. Sometimes a lot of people might even feel to delay their investment because of not having back up fund yet.

As a newbie or not backup fund is important but the top priority should be to invest, to start your investment journey as soon as possible.

People don't need to have backup funds first before they can start investing but it's also not out of the ordinary for someone to already have backup funds before the decided to start investing, the thing here is that your backup funds aren't just there for your bitcoin investment, they are there for you and some people already had theirs ready before they realized that accumulating and holding bitcoin for long term had the potential to yield good profit so for this people they did not wait to have their backup funds first before they started investing they simply just had it and since they already have it ready they can just start investing,
People who don't already have their backup funds before they start investing shouldn't be thinking about delaying their investment because they don't have their backup fund especially their emergency fund ready, at the end of the day their investment should be of higher priority than their emergency fund, this is not to diminish the value of having an emergency fund but your investment should come first or you do them together.

[Grease5000]

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 see both sides. Personally, I don't think newbies  should should delay Bitcoin investing forever because they hasn't built a full emergency fund yet.

If someone has discretionary income, he can start accumulating small amounts while slowly  building his emergency fund alongside it. That way he doesn't miss out or delay on starting early, and by slowly building his emergency funds he also has some protection against unexpected expenses in the future.