JJG’s Outline of Bitcoin Investment Ideas

[Silikiem]

I don't see anything wrong with investing in debt under any circumstances if you have the ability to repay the loan while keeping the promise. Especially when the market is giving us the opportunity to buy dips, if there is an opportunity to invest in debt and if you have the ability to repay the loan on time, you can definitely invest in debt, it can be a wise move.

In this case, you must be especially careful about repaying the loan, if there is even the slightest doubt about the ability to repay the loan on time, then refrain from investing in debt. Even there is no need to take complicated loans for investment, if you are able to get a loan easily, then plan to invest in debt. Debt is not bad if you have the ability to repay and are honest in repaying the loan.

You re emphasizing too much on the ability to payback the loan while overlooking the risk of the investment. Having a stable income or repayment plan does not guarantee that the investmemt will perform well. We all know the market is unpredictable and nobody can predict future price movements correctly

The statement that investing with debt can be a wise move might give most folks the impression that borrowing money to invest is generally acceptable, when in reality it increases financial risk. If the investment looses value,he debt will remain and must still be repaid. Unexpected events can also affect folks ability to meet their repayment date . While some people may choose to invest with borrowed money, it should be viewed as extremely high risk decision rather than a strategy that can be broadly recommended. Responsible investing is about managing risk, not increasing it through debt

‎ I myself don't like the idea of taking a loan to invest. The only time I feel loans can be taken is during periods of emergency, where there's a shortage of cash (fiat) to take care of essential needs, like food, rent, school fees, health etc. But if the person has a legit way of paying back that loan , then he can use it to invest. Apart from investing,  a lot of Entrepreneurs take loans to start up their business on a large scale. So it is really a bad idea as long as you have ways to pay back before the due date and you don't make your investments as the option to be used to pay that loan (that would be a financial mistake). If you are a person who doesn't have ways of getting income, they should not even make loans as their options for investing. They should rather find ways on earning money to invest.

Taking out loans to invest or do anything with the money being borrowed without any proper plan on how to pay back the loan is very absurd. Weather you take the loan for investment purposes or for Emergency situations or to sort out your immediate pressing needs, you ought to make sure of also making a proper repayment plan for the loan. It is even more ridiculous to depend on the performance of your bitcoin investment to repay back the loan and that’s why before taking loan to invest in bitcoin make sure you have a sure means of repaying back the loan. The truth is don’t depend on your bitcoin investment for the repayment of the loan weather it’s doing well or not because that will definitely lead you into selling your bitcoin holding and at the end your long term goal have been defeated

[Homemade-IQ]

Taking out loans to invest or do anything with the money being borrowed without any proper plan on how to pay back the loan is very absurd. Weather you take the loan for investment purposes or for Emergency situations or to sort out your immediate pressing needs, you ought to make sure of also making a proper repayment plan for the loan. It is even more ridiculous to depend on the performance of your bitcoin investment to repay back the loan and that’s why before taking loan to invest in bitcoin make sure you have a sure means of repaying back the loan. The truth is don’t depend on your bitcoin investment for the repayment of the loan weather it’s doing well or not because that will definitely lead you into selling your bitcoin holding and at the end your long term goal have been defeated

Taking a loan to invest in Bitcoin especially when you are just starting your Bitcoin investment should never be consider, because it is a move than can put you in dip shit easily, even though you can pay back from another of your source of income. Those that take a loan to invest are only doing that to strengthen an existing business, not to start up or invest in Bitcoin that profit is not guarantee in the future, that is more of the reason we should avoid doing such because you can easily run into trouble by doing so

[Showlove01]

Taking out loans to invest or do anything with the money being borrowed without any proper plan on how to pay back the loan is very absurd. Weather you take the loan for investment purposes or for Emergency situations or to sort out your immediate pressing needs, you ought to make sure of also making a proper repayment plan for the loan. It is even more ridiculous to depend on the performance of your bitcoin investment to repay back the loan and that’s why before taking loan to invest in bitcoin make sure you have a sure means of repaying back the loan. The truth is don’t depend on your bitcoin investment for the repayment of the loan weather it’s doing well or not because that will definitely lead you into selling your bitcoin holding and at the end your long term goal have been defeated

Taking a loan to invest in Bitcoin especially when you are just starting your Bitcoin investment should never be consider, because it is a move than can put you in dip shit easily, even though you can pay back from another of your source of income. Those that take a loan to invest are only doing that to strengthen an existing business, not to start up or invest in Bitcoin that profit is not guarantee in the future, that is more of the reason we should avoid doing such because you can easily run into trouble by doing so

If someone have a good source of income and maybe the person is out of discretionary income to front load or double the money he use in accumulation, it won't be wrong or bad if the person take loan to invest if the market present a good opportunity to be aggressive, as long as the person is capable of repaying there is no challenge or nothing wrong but I don't encourage anyone who doesn't have a good source of income to loan money to accumulate Bitcoin it is not a good and wise.

[Finebone]

If someone have a good source of income and maybe the person is out of discretionary income to front load or double the money he use in accumulation, it won't be wrong or bad if the person take loan to invest if the market present a good opportunity to be aggressive,

This might look very easy going on paper or on your lips, but it's a very big risk you are taking, because if for any reason you can't meet up to pay back on time, just know that your Bitcoin investment will  be under threat.
I don't know of your sentiment about this idea of taking a loan to invest, when it comes to new investor, but what I know is that newbies should avoid doing such because starting their investment on a wrong footing, by taking a loan is not a good idea, no matter how tempting the market has dip.
Investment in Bitcoin should only be done from our discretionary income, so any investment done beyond it is an act of gambling.

[ChocolateBitcoinK]

Taking out loans to invest or do anything with the money being borrowed without any proper plan on how to pay back the loan is very absurd. Weather you take the loan for investment purposes or for Emergency situations or to sort out your immediate pressing needs, you ought to make sure of also making a proper repayment plan for the loan. It is even more ridiculous to depend on the performance of your bitcoin investment to repay back the loan and that’s why before taking loan to invest in bitcoin make sure you have a sure means of repaying back the loan. The truth is don’t depend on your bitcoin investment for the repayment of the loan weather it’s doing well or not because that will definitely lead you into selling your bitcoin holding and at the end your long term goal have been defeated

Taking a loan to invest in Bitcoin especially when you are just starting your Bitcoin investment should never be consider, because it is a move than can put you in dip shit easily, even though you can pay back from another of your source of income. Those that take a loan to invest are only doing that to strengthen an existing business, not to start up or invest in Bitcoin that profit is not guarantee in the future, that is more of the reason we should avoid doing such because you can easily run into trouble by doing so

If someone have a good source of income and maybe the person is out of discretionary income to front load or double the money he use in accumulation, it won't be wrong or bad if the person take loan to invest if the market present a good opportunity to be aggressive, as long as the person is capable of repaying there is no challenge or nothing wrong but I don't encourage anyone who doesn't have a good source of income to loan money to accumulate Bitcoin it is not a good and wise.

I agree with you, if I do not have any financial means, then it is a big mistake to invest with a loan to buy a market dip. Because if you think of taking a loan to buy a market dip at a time when you do not have financial means, then what is your means or source of repayment of that loan later?

Of course you are thinking that now the market is in a dip, so if I invest in debt now, the market will go up again very soon, then you will pay off that loan with your Bitcoin profit.

Of course you will think like this, it is trading and it is a very risky way, you are trying to make short-term profits from Bitcoin, where your chances of losing money will be the highest.

If you want to take advantage of the opportunity of Bitcoin's dip price by taking a loan, then you must have a separate financial means to repay that loan, you cannot rely on the money you are investing in debt to repay that loan again. You need to be careful about this before you think about investing by debt.

[Humblevirus]

If someone have a good source of income and maybe the person is out of discretionary income to front load or double the money he use in accumulation, it won't be wrong or bad if the person take loan to invest if the market present a good opportunity to be aggressive,

As far as the person knows they will be able to pay back the loan with their discretionary funds, I don't think taking a loan to invest should be a problem. The reason people are warned not to invest with borrowed money is that some may not have other means to repay the loan and instead rely solely on their Bitcoin investment. They may assume that when the price increases, they will sell and pay back the loan.However, Bitcoin is unpredictable, and profits are never guaranteed. If the price of Bitcoin decreases or does not perform as expected, the person who took the loan may come under significant financial pressure. This is why many of us advise that only discretionary funds should be invested in Bitcoin not money needed for essential expenses or money that cannot be afforded to lose.Therefore, taking a loan to invest in Bitcoin can be both bad and not bad, depending on the person's reason for borrowing and their ability to repay the loan without depending on the investment's success

[Queen uloma]

Taking out loans to invest or do anything with the money being borrowed without any proper plan on how to pay back the loan is very absurd. Weather you take the loan for investment purposes or for Emergency situations or to sort out your immediate pressing needs, you ought to make sure of also making a proper repayment plan for the loan. It is even more ridiculous to depend on the performance of your bitcoin investment to repay back the loan and that’s why before taking loan to invest in bitcoin make sure you have a sure means of repaying back the loan. The truth is don’t depend on your bitcoin investment for the repayment of the loan weather it’s doing well or not because that will definitely lead you into selling your bitcoin holding and at the end your long term goal have been defeated

Taking a loan to invest in Bitcoin especially when you are just starting your Bitcoin investment should never be consider, because it is a move than can put you in dip shit easily, even though you can pay back from another of your source of income. Those that take a loan to invest are only doing that to strengthen an existing business, not to start up or invest in Bitcoin that profit is not guarantee in the future, that is more of the reason we should avoid doing such because you can easily run into trouble by doing so

If someone have a good source of income and maybe the person is out of discretionary income to front load or double the money he use in accumulation, it won't be wrong or bad if the person take loan to invest if the market present a good opportunity to be aggressive, as long as the person is capable of repaying there is no challenge or nothing wrong but I don't encourage anyone who doesn't have a good source of income to loan money to accumulate Bitcoin it is not a good and wise.

I get your point but personally, I am always careful when it comes to taking loan to buy bitcoin. Even if a person has a stable income and can reply the loan, bitcoin is still volatile and nobody can predict the market movement. If the market move against your expectation, you are still owning the loan and the interest, regardless of what your investment profit is, this kind of pressure can affect someone emotionally and financially. However, if a person has a solid income, clear understanding about the risk involve, and have emergency savings, it’s now a personal decision to take. The most crucial thing here is, don’t borrow money that you will find difficult to pay back if things go wrong. Borrowing to invest for me is exceptional, and it is not a normal way of accumulating bitcoin. Invest only with your discretionary income that you can afford to leave for years without it affecting your financial stability.

[Grease5000]

Edit....

People can start with just $10 or any other small amount and learn as they go. And along with buying Bitcoin, they can also build their own savings. So a person needs to figure out whether they have a discretionary fund or not. And also calculate their income and expenses. If a person gets a salary of about $500 every two weeks and their basic expenses are about $400 every two weeks, then they will calculate that they have $100 as discretionary fund every two weeks. What I mean by this small example is that needs and responsibilities should be prioritized and then the remaining money should be invested. Investing from discretionary income means that we are making sure that this money is not needed for urgent needs and we are able to afford to lose this money.

How much an investor will invest consistently will depend entirely on the income of that investor and the discretionary income of that investor. If the investor can accumulate a large amount of discretionary income by meeting all his needs and keeping other expenses aside, then those investors can use a large amount of money for continuous investment.

True! But then, because of the liberty the DCA strategy brings, we can adjust our accumulation price to whatever we can afford at a particular time just so we remain consistent in the market, and of course thats the best, instead of staying out of acculturation because we don't have enough amount to invest and/or our amount is not up to the regular amount we usually invest with.
In order words, we can continually accumulate Bitcoin from our available  discretionary income and keep consistency. We must not track a particular amount as an excuse not to be consistent

The DCA strategy actually brings liberty because it helps us to accumulate bitcoin with whatever amount we have and it also reduce the pressure of trying to accumulate with huge amount of money at a time, I love the DCA strategy and ever since I knew about that strategy I have been using it till date and I don’t think I will change from using it even though I reach over accumulation stage and I still want to add more bitcoin to my portfolio I will still use the DCA strategy except better strategy is discovered in the future.
Bitcoin investment is one of the best investment in the world right now and one good thing is that you can use any account to start your investment so amount of money shouldn’t be a reason not to accumulate and remain consistent.

I agree with your idea because a lot of people think they need a big amount before they can start buying Bitcoin, they  forget that one the most important thing is figuring out their discretionary income first.

As an investor once my essential expenses are covered, I can use some portion of the remaining money to DCA into Bitcoin, even if it's a small amount and use the  remar to create  a backup  account, Over time, those small purchases add up. Because the goal is not to invest money needed for daily living, but to steadily accumulate an asset with long trm value while staying financially comfortable.

[Lembo69]

I agree with your idea because a lot of people think they need a big amount before they can start buying Bitcoin, they  forget that one the most important thing is figuring out their discretionary income first.

As an investor once my essential expenses are covered, I can use some portion of the remaining money to DCA into Bitcoin, even if it's a small amount and use the  remar to create  a backup  account, Over time, those small purchases add up. Because the goal is not to invest money needed for daily living, but to steadily accumulate an asset with long trm value while staying financially comfortable.

Yes, it is true that you do not need a lot of money to start investing in Bitcoin, because you can invest monthly or weekly using the DCA strategy. Investment should actually be done with discretionary income because it is the money that is sold after meeting all your needs. In my personal opinion, I think that for someone whose income is stable, it is not a problem to create a good investment vehicle using the DCA strategy. But for someone whose income is unstable, it can become a little difficult. Because he himself does not know what the next source of income will be if he loses his job. Another thing every investor should do before investing, and that is to ensure their income, and develop an alternative source of income.

And to maintain investment discipline, an investor must buy regularly. And invest. Only then will he be able to develop a proper investment

[KeenanEl19]

DCA without "Hold" is like lying to yourself. DCA sounds difficult because what most people have in mind is analysis and strategy, but in practice, it boils down to just two words: Buy and hold. I agree with you, using the DCA strategy is not to make money for next month, but the rule is like someone who collects firewood for the next 4 years, if every week the wood is used to burn meat, then that person will be cold when winter comes.
DCA is actually simple, but it requires high discipline. The key to the success of this strategy lies in consistently investing regularly and committing to holding Bitcoin for the long term, regardless of price fluctuations in the market.

With DCA which is discussed a lot here, I think it's more about buying and holding rather than selling, so it's done consistently by continuing to buy (according to a predetermined amount) and holding to continue buying the measured amount and time.

With the way it has to be done, I agree that it is simple but it does require high discipline as you said, and it is true that you said that one of the keys to the success of this strategy is commitment in carrying it out.

[impulse709]

Taking out loans to invest or do anything with the money being borrowed without any proper plan on how to pay back the loan is very absurd. Weather you take the loan for investment purposes or for Emergency situations or to sort out your immediate pressing needs, you ought to make sure of also making a proper repayment plan for the loan. It is even more ridiculous to depend on the performance of your bitcoin investment to repay back the loan and that’s why before taking loan to invest in bitcoin make sure you have a sure means of repaying back the loan. The truth is don’t depend on your bitcoin investment for the repayment of the loan weather it’s doing well or not because that will definitely lead you into selling your bitcoin holding and at the end your long term goal have been defeated

Taking a loan to invest in Bitcoin especially when you are just starting your Bitcoin investment should never be consider, because it is a move than can put you in dip shit easily, even though you can pay back from another of your source of income. Those that take a loan to invest are only doing that to strengthen an existing business, not to start up or invest in Bitcoin that profit is not guarantee in the future, that is more of the reason we should avoid doing such because you can easily run into trouble by doing so

If someone have a good source of income and maybe the person is out of discretionary income to front load or double the money he use in accumulation, it won't be wrong or bad if the person take loan to invest if the market present a good opportunity to be aggressive, as long as the person is capable of repaying there is no challenge or nothing wrong but I don't encourage anyone who doesn't have a good source of income to loan money to accumulate Bitcoin it is not a good and wise.

While I'm wholeheartedly agreeing with you that not every Bitcoin investment that involves borrowing is necessarily risky. I should emphasize that it is certainly risky in many cases. But I still believe it's very risky to borrow to invest. While the Bitcoin has many long-term potential. The short term price movements are erratic and a market crash can put pressure on the finances of any person with a decent income. An up front investment can lead to a greater potential exposure to future gains. Yet with a greater amount of risk. The idea of investing with disposable income and sticking to a consistent DCA strategy is always a better and safer bet for the majority of investors, particularly novices. Only people who are very familiar with the inherent risks of lending and can easily afford to pay back the loan should consider taking one.

[Different patterns]

DCA without "Hold" is like lying to yourself. DCA sounds difficult because what most people have in mind is analysis and strategy, but in practice, it boils down to just two words: Buy and hold. I agree with you, using the DCA strategy is not to make money for next month, but the rule is like someone who collects firewood for the next 4 years, if every week the wood is used to burn meat, then that person will be cold when winter comes.

My experience using the DCA method is that it supports more of holding than selling since the investor is more inclined to purchasing than thinking when to sell. Recur that the DCA method aims to remove financial stress from the investor by allowing him invest small part of his capital per time. In addition, the DCA method does not look at the price which is why the investor is more of buying than selling.

I also want to inform you that the DCA method is not difficult, it is one of the simplest method of investing in Bitcoin that is suitable for everyone including newbies and experienced investors with huge capital. You don't need too much brain work to invest through the DCA method neither do you have to master technical analysis to do that, just login to wherever you want to buy your coins, buy and withdraw to your private wallet.

You make a very good point here, DCA has make the investment in bitcoin easier, one of big advantages of using DCA strategy is that it comes with natural encourages accumulation and long term holding than always buying and selling. The simplicity even make the DCA more attractive. because investor does not need to be and experts analysis by predicting market tops and bottom, the strategy is very straight forward.

The only thing need to do is to invest a fixed amount consistently, regardless of price up and down, and continue accumulating over time. That’s why DCA is always use to encourage the newbie’s and even experienced investors struggle to do it consistently instead of worry about when to buy and sell, what needed to do is to develop the habit of consistency accumulation while focusing on bigger picture.

[Sim_card]

Another thing every investor should do before investing, and that is to ensure their income, and develop an alternative source of income.

It's not compulsory to get an alternative source of income before starting your bitcoin investment because all you need to get is your discretionary income to enable you start buying bitcoin even as low as $10, you can get started.

If you want to wait till you are able to get an alternative source of income with your normal income, you might end up not investing when you cannot get an alternative source of income or delay your investing for long. Let's not use some unnecessary criterion to deprive us from getting started immediately, when we have our discretionary income even though, it's not consistent.

If your discretionary income isn't consistent and you have started your bitcoin investment, you can go look for a second means of income by learning a skill, look for a second job or improve your qualifications by going for a higher course for increase in pay to enable you DCA consistently and persistently overtime till you reach your bitcoin target

The only thing need to do is to invest a fixed amount consistently, regardless of price up and down, and continue accumulating over time.

It's only if you choose to invest in a whimpy way with your discretionary income that you can invest weekly/monthly with a fixed amount of money consistently if not it's not possible. The reason why I said this is because, some months our discretionary income varies since you might have higher expenses than the usual one and that will eat up a larger portion of your income and your discretionary income will be lesser than usual. You have to buy Bitcoin with a lesser amount that week and there are times that your monthly expenses will be lesser you will have higher discretionary income, you have to use a higher amount to buy Bitcoin that week

[johnsaributua]

You make a very good point here, DCA has make the investment in bitcoin easier, one of big advantages of using DCA strategy is that it comes with natural encourages accumulation and long term holding than always buying and selling. The simplicity even make the DCA more attractive. because investor does not need to be and experts analysis by predicting market tops and bottom, the strategy is very straight forward.

The only thing need to do is to invest a fixed amount consistently, regardless of price up and down, and continue accumulating over time. That’s why DCA is always use to encourage the newbie’s and even experienced investors struggle to do it consistently instead of worry about when to buy and sell, what needed to do is to develop the habit of consistency accumulation while focusing on bigger picture.

Beyond what you said of course this strategy is very easy to understand for both beginners and those who have been involved in this forum for a long time. This is a very good thing for us in investing whether long-term or short-term because it has its own unique value for anyone who uses it ultimately making Bitcoin ownership more practical for buying and selling.

Whether the market price is increasing or decreasing it will be more interesting if someone makes a fairly simple Bitcoin investment because the DCA strategy does not only favor those who have large or small amounts of finances so this is what makes many people more motivated to buy Bitcoin when they generate more sources of income and when investing in Bitcoin only with discretionary funds because basically before they make a Bitcoin purchase they first adjust to their needs so that by being sufficient for these things they will buy Bitcoin without having problems or risks that they will experience while they are investing in Bitcoin so the DCA strategy is very helpful for those who have a relatively small amount of discretionary funds.

This has become the main thing for those who invest in Bitcoin because this consistency is the source of our seriousness in protecting against what we are doing for example, someone who buys Bitcoin very aggressively because the price is very helpful for them to increase the number of their future assets but after making a purchase they do not maintain it well let alone consistently they do not have it so that the amount that has been made on the purchase will decrease because their way of maintaining or protecting against what they have done on the purchase they do not do it consistently so this will experience losses for them because their habit of thinking only to be able to make a purchase so that consistent after buying they no longer need this is something that is very inappropriate in making investments so after I understand what you said at the beginning it is true that a consistent attitude must be prioritized by someone who does any activity one of which is investing in Bitcoin.

[G_Besar]

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With DCA which is discussed a lot here, I think it's more about buying and holding rather than selling, so it's done consistently by continuing to buy (according to a predetermined amount) and holding to continue buying the measured amount and time.

With the way it has to be done, I agree that it is simple but it does require high discipline as you said, and it is true that you said that one of the keys to the success of this strategy is commitment in carrying it out.

This isn't just about strong commitment and disciplined implementation; it also requires a well-thought-out plan and sufficient preparation, as it requires both financial capital and a truly strong mental fortitude. Because someone who focuses on buying regularly shouldn't be tempted or influenced by other people's sales, and shouldn't panic when they see price drops in the market, as this is still a frequent obstacle for some long-term investors today. So, please use any method that maintains discipline and commitment, because if the investment method is burdensome, it will certainly be difficult for any investor to be consistent in investing long-term.

[UpTober]

DCA without "Hold" is like lying to yourself. DCA sounds difficult because what most people have in mind is analysis and strategy, but in practice, it boils down to just two words: Buy and hold. I agree with you, using the DCA strategy is not to make money for next month, but the rule is like someone who collects firewood for the next 4 years, if every week the wood is used to burn meat, then that person will be cold when winter comes.

My experience using the DCA method is that it supports more of holding than selling since the investor is more inclined to purchasing than thinking when to sell. Recur that the DCA method aims to remove financial stress from the investor by allowing him invest small part of his capital per time. In addition, the DCA method does not look at the price which is why the investor is more of buying than selling.

I also want to inform you that the DCA method is not difficult, it is one of the simplest method of investing in Bitcoin that is suitable for everyone including newbies and experienced investors with huge capital. You don't need too much brain work to invest through the DCA method neither do you have to master technical analysis to do that, just login to wherever you want to buy your coins, buy and withdraw to your private wallet.

You make a very good point here, DCA has make the investment in bitcoin easier, one of big advantages of using DCA strategy is that it comes with natural encourages accumulation and long term holding than always buying and selling. The simplicity even make the DCA more attractive. because investor does not need to be and experts analysis by predicting market tops and bottom, the strategy is very straight forward.

The only thing need to do is to invest a fixed amount consistently, regardless of price up and down, and continue accumulating over time. That’s why DCA is always use to encourage the newbie’s and even experienced investors struggle to do it consistently instead of worry about when to buy and sell, what needed to do is to develop the habit of consistency accumulation while focusing on bigger picture.

Undoubtedly, the DCA investment strategy has made the investment process much easier for investors. For example, before I learned about DCA investment, my idea of investing was that investing meant first accumulating a lot of money and then using that money to buy Bitcoin at a time when the price of Bitcoin would be very low. I used to face a lot of obstacles in investing in this way, such as the first obstacle was accumulating a good amount of money. Because when I used to accumulate money, I would have many needs and I would be forced to spend the accumulated money, which would delay the investment even more. Again, when I could accumulate money, I would also be very tense about when to buy because when the market price went down, I thought it would go down further, but the market did not always change as I expected, due to which many investment opportunities were missed.

However, now by adopting the DCA strategy, there is no need to accumulate money, but when I have the money, I try to invest with the amount of money I have.  If you can make investment decisions based on your income and expenses, and your discretionary income, then I think the best decision for an investor will always be the DCA investment strategy.

[alankasman]

It's not compulsory to get an alternative source of income before starting your bitcoin investment because all you need to get is your discretionary income to enable you start buying bitcoin even as low as $10, you can get started.

If you want to wait till you are able to get an alternative source of income with your normal income, you might end up not investing when you cannot get an alternative source of income or delay your investing for long. Let's not use some unnecessary criterion to deprive us from getting started immediately, when we have our discretionary income even though, it's not consistent.

If your discretionary income isn't consistent and you have started your bitcoin investment, you can go look for a second means of income by learning a skill, look for a second job or improve your qualifications by going for a higher course for increase in pay to enable you DCA consistently and persistently overtime till you reach your bitcoin target

The question we need to ask is why people who haven't even started investing are already considering the usual things they would try to do after doing so. When the situation no longer allows they should consider the same things they considered before starting.
It seems highly unlikely for those who haven't started but are already considering such a thing unless they have already started and there are obstacles to their investment. Therefore having or using alternative income is a last resort to resolve the problem.

Clearly, they can't invest because they prefer to wait for alternative income while time goes by. Those who do this I think are wasting their time and it's actually unnecessary for them to do so. It's not a good idea for our success in Bitcoin investing, but rather a way that will make our future more difficult because it prevents us from starting to invest. Unless waiting after investing is okay because we're doing it first rather than waiting and then investing in BTC.

This is a different story as you've already started but lack discretionary income. You must engage in other activities that can enable you to continue your postponed investment. The reason for the delay is that you can't do this due to your significantly reduced discretionary income. In this situation, the only way is to go out and find alternative activities to secure capital to continue your initial goal which has been slightly delayed due to the lack of discretionary income. If you don't do this you might not achieve your investment goals as planned before investing in Bitcoin.

[Decimetre]

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With DCA which is discussed a lot here, I think it's more about buying and holding rather than selling, so it's done consistently by continuing to buy (according to a predetermined amount) and holding to continue buying the measured amount and time.

With the way it has to be done, I agree that it is simple but it does require high discipline as you said, and it is true that you said that one of the keys to the success of this strategy is commitment in carrying it out.

This isn't just about strong commitment and disciplined implementation; it also requires a well-thought-out plan and sufficient preparation, as it requires both financial capital and a truly strong mental fortitude. Because someone who focuses on buying regularly shouldn't be tempted or influenced by other people's sales, and shouldn't panic when they see price drops in the market, as this is still a frequent obstacle for some long-term investors today. So, please use any method that maintains discipline and commitment, because if the investment method is burdensome, it will certainly be difficult for any investor to be consistent in investing long-term.

It is not wrong to use any method that maintains discipline but is is also good to understand what you want and set your goal as to when to achieve it and how to achieve. For some folks who are perhaps reluctant to invest in bitcoin, they can decide to claim that their method of investing should be waiting for dips, if they start waiting for the dip they desire, they may never regain from thinking that a better dip is still coming without knowing they are already missing their best buy opportunities.

This is why it is good to not only say "Do what works for you", but also making a suggestion. Of course everyone is at the liberty to do whatever he wants with his bitcoin but I don't think that someone who had set an accumulation goal for himself would do better with strategy of buying the dip, so it's better to focus on DCA than waste your time waiting for the dip.

[B-BossMan]

Another thing every investor should do before investing, and that is to ensure their income, and develop an alternative source of income.

It's not compulsory to get an alternative source of income before starting your bitcoin investment because all you need to get is your discretionary income to enable you start buying bitcoin even as low as $10, you can get started.

If you want to wait till you are able to get an alternative source of income with your normal income, you might end up not investing when you cannot get an alternative source of income or delay your investing for long. Let's not use some unnecessary criterion to deprive us from getting started immediately, when we have our discretionary income even though, it's not consistent.

If your discretionary income isn't consistent and you have started your bitcoin investment, you can go look for a second means of income by learning a skill, look for a second job or improve your qualifications by going for a higher course for increase in pay to enable you DCA consistently and persistently overtime till you reach your bitcoin target

The only thing need to do is to invest a fixed amount consistently, regardless of price up and down, and continue accumulating over time.

It's only if you choose to invest in a whimpy way with your discretionary income that you can invest weekly/monthly with a fixed amount of money consistently if not it's not possible. The reason why I said this is because, some months our discretionary income varies since you might have higher expenses than the usual one and that will eat up a larger portion of your income and your discretionary income will be lesser than usual. You have to buy Bitcoin with a lesser amount that week and there are times that your monthly expenses will be lesser you will have higher discretionary income, you have to use a higher amount to buy Bitcoin that week

Agree with you that anyone waiting for a alternative or second source of income before purchasing bitcoin can cause unnecessary delay. The most relevant thing to do is to identifying whatever thier discretionary income is readily available at the moment and putting into a work, bitcoin investment doesn't really requires too much funds that's why DCA strategy is a safer method to approach, even with small amounts of money you can purchase bitcoin and hold and the small can help you building the habits of saving in Bitcoin than spending everything beign earn. Also, accumulating bitcoin should always remain the main goal to achieve for long-term. I must agree with you that one can start stacking Bitcoin with just $10 or $20 or any amount they can gently afford to lose.

Many people today have lose a valuable years waiting for the perfect situation or financial stabilty before they begin investing into bitcoin. Bitcoin accumulation is actually all about consistency and patience over time, starting small with the little you have can allow you benefits from discipline of regular investing gradually and build your position, then use higher earnings in the future to strengthen and sustain your Dollar cost averaging strategy.

[Tongley]

Another thing every investor should do before investing, and that is to ensure their income, and develop an alternative source of income.

Before starting investment, it is not mandatory to work in addition to the source of income. To start investing, we need discretionary income. If a person is able to find a source of discretionary income, then he can start investing.

Starting investment is important, after starting investment, if he is not able to continue his investment consistently or is not able to find discretionary income, then he can do extra work, but it is not mandatory to do extra work to start investing. But yes, there are many who cannot manage their financial situation properly and spend more than their income, they should be able to find discretionary income by reducing their extra expenses and continue investing consistently.

However, those who have less source of income and have a lot of trouble finding discretionary income or are unstable but they find discretionary income, should start from the situation they are in and after starting, they can find more sources of income and keep trying to bring their expenses under control.