JJG’s Outline of Bitcoin Investment Ideas

[B-BossMan]

Investing into bitcoin is not guaranteed to be successful.

Also, if a person starts investing with bitcoin with absolutely no backup funds, then that would be problematic, so there is a need to have some back up funds when starting.

Frequently active forum guys (including myself) will suggest building back up funds and the bitcoin holdings at the same time, and so we should not either negate back up funds or to suggest that they are not needed.

In my opinion, the biggest mistake or problems some people actually facing is thier inability to keep a separate cashflow mainly reserved for an emergencies and any other expenses. That's why sometimes they later ended up selling thier long-term bitcoin holdings just to convert bills or any unexpected expenses that comes over. However, lack of proper financial planning and a poor cashflow management causes all these problems, th3 facts is when there's no any cashflow  or emergency funds available, any prolonged drops in your income or any increases in their living expenses truly forced many people to sell off thier bitcoin assets that were already intended for long-term growths.

Also, that's why maintaining a separate emergency funds are very important for anyone accumulating Bitcoin and holdings for long-term purposes, it creates a protections that keeps you away from touching your long-term Bitcoin holdings. So that you only sell your bitcoin when it fits your plan or you choose to sell, not because you wants to use it for an emergencies and you have no other option than selling it.

[Derekfunds]

Your point is cleared and understandable, a lot of people get it wrong when they want to start their bitcoin investment, some people keep saying that emergency funds must be ready, which I disagree with them because emergency fund can be built alongside your investment. You can build the two simultaneously from your discretionary income. There's no any problem if you split your discretionary income like 80 - 20, 80% will go for your investment while 20 will stand for your emergency funds. 

In this case, regarding the emergency fund, I don't think there is a particular formula for going about it. I think it depends on the individual. If you believe that you must have an emergency fund before investing in Bitcoin, it is not a bad idea. If you also think you can build an emergency fund while investing in Bitcoin, that is also not a bad approach. The most important thing is having an understanding of the need for an emergency fund; this is even better. The main thing is to get started with investing in Bitcoin, and not having an emergency fund shouldn't be a reason to wait. As long as one understands the role of an emergency fund, it will definitely be part of the plan while investing in Bitcoin.

It is not compulsory that someone must start investing in Bitcoin with their emergency funds ready no, but it is necessary to have your emergency funds ready while you start your Bitcoin investment and like I said it is not compulsory but it's necessary these are two important or key words we should note and we should understand the difference between them so we don't misinterpret. When I said it is not compulsory it means that one can start without emergency funds then why I said it's necessary it's because of, if there is any sudden challenge our emergency funds can help us.

[Grease5000]

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It is not compulsory that someone must start investing in Bitcoin with their emergency funds ready no, but it is necessary to have your emergency funds ready while you start your Bitcoin investment and like I said it is not compulsory but it's necessary these are two important or key words we should note and we should understand the difference between them so we don't misinterpret. When I said it is not compulsory it means that one can start without emergency funds then why I said it's necessary it's because of, if there is any sudden challenge our emergency funds can help us.

For me I will  recommend  that those without an emergency fund can build it alongside while also Accumulating Bitcoin. That way, they can stay consistent  in Accumulating bitcoin without having to worry about future emergencies. And with  DCA they can keep their  long term plan intact.

[Emjay24]

See, starting Bitcoin investment is the most important thing, even if you do not have an emergency fund, start investing in Bitcoin. Because if you start investing in Bitcoin, you will definitely be able to increase your income later and you will be running around looking for different sources of income on your own.

There may be no need for this TBH, one good source of income would even give you what multiple source of income wouldn't, most people who run around for multiple sources of income are not specialized, specialization in a given career increases your value and companies are ready to pay you more for your services and in turn you will have more discretionary income available to increase your buying amount into bitcoin as well as build your backup funds at a faster pace. Emergency fund is very important to protect your bitcoin, you need to have plans for your emergency funding ASAP you start your bitcoin investment journey, emergency can come anytime and it is a great disservice to your portfolio that emergency made you depreciate it simply because you neglected to build an emergency fund to tackle it.

[Shadiq]

There may be no need for this TBH, one good source of income would even give you what multiple source of income wouldn't, most people who run around for multiple sources of income are not specialized, specialization in a given career increases your value and companies are ready to pay you more for your services and in turn you will have more discretionary income available to increase your buying amount into bitcoin as well as build your backup funds at a faster pace. Emergency fund is very important to protect your bitcoin, you need to have plans for your emergency funding ASAP you start your bitcoin investment journey, emergency can come anytime and it is a great disservice to your portfolio that emergency made you depreciate it simply because you neglected to build an emergency fund to tackle it.

How a person earns and in what way he earns is the freedom of every person. Not everyone's situation is the same in terms of income sources and not everyone works in the same organization. Even not everyone has the same amount of income from income sources. So we do not know who needs multiple sources of income and who can earn more money from the main source of income.

But if someone plans multiple sources of income for investment purposes, instead of trying to maximize the income from the main source of income, then I would definitely suggest that you give priority to the main source of income first and then you can have multiple sources of income if you want. Whether you want to earn $100 or $500 is your choice, but you should try your best in each case. If possible, there is nothing wrong with trying to increase discretionary money by having multiple sources of income, but it should not be done at the expense of the main source of income. In the case of emergency funds, emergency funds are not mandatory before investments, but after investments.

[Silikiem]

Your point is cleared and understandable, a lot of people get it wrong when they want to start their bitcoin investment, some people keep saying that emergency funds must be ready, which I disagree with them because emergency fund can be built alongside your investment. You can build the two simultaneously from your discretionary income. There's no any problem if you split your discretionary income like 80 - 20, 80% will go for your investment while 20 will stand for your emergency funds. 

In this case, regarding the emergency fund, I don't think there is a particular formula for going about it. I think it depends on the individual. If you believe that you must have an emergency fund before investing in Bitcoin, it is not a bad idea. If you also think you can build an emergency fund while investing in Bitcoin, that is also not a bad approach. The most important thing is having an understanding of the need for an emergency fund; this is even better. The main thing is to get started with investing in Bitcoin, and not having an emergency fund shouldn't be a reason to wait. As long as one understands the role of an emergency fund, it will definitely be part of the plan while investing in Bitcoin.

I completely agree that there isn't one universal rule about the need to create an emergency fund before starting to invest in Bitcoin. Each person has his or her own financial situation, income, and responsibility. As for me, I believe it is quite okay to begin investing in such assets with a small sum of money while simultaneously creating an emergency fund. Waiting for when all the finances become absolutely perfect will result in postponing the investment process for many years ahead. But it should be noted that it is necessary not to neglect the need for funds which could be used to cover any unforeseen expenses because otherwise, a person would be obliged to get rid of Bitcoin in unfavorable market conditions.

Getting rid of bitcoin due to unfavorable market conditions is a trader’s mission who’s in for a quick profit and not really for long term goal. If an individual fails to build up his emergency funds while investing In bitcoin the investor is likely going to sell when he encounters an emergency situations so as to raise cash to settle the situation. But selling due to unfavorable market conditions is not because of emergency funds unavailable but because the investors focus is already on making quick profit and because the market is no longer moving as he wants it to be he start panicking to sell. And another thing that mostly results to this act of selling due to unfavorable market condition is because the investor fails to invest with a discretionary income that he won’t be needing anytime soon.

[GIF-JOBS]

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It is not compulsory that someone must start investing in Bitcoin with their emergency funds ready no, but it is necessary to have your emergency funds ready while you start your Bitcoin investment and like I said it is not compulsory but it's necessary these are two important or key words we should note and we should understand the difference between them so we don't misinterpret. When I said it is not compulsory it means that one can start without emergency funds then why I said it's necessary it's because of, if there is any sudden challenge our emergency funds can help us.

For me I will  recommend  that those without an emergency fund can build it alongside while also Accumulating Bitcoin. That way, they can stay consistent  in Accumulating bitcoin without having to worry about future emergencies. And with  DCA they can keep their  long term plan intact.

There are many who, due to the temporary excitement of investing, wait for their financial security, they continue to invest without any kind of emergency fund but they do not even think of creating an emergency fund, such investors usually face reality after some time, and at that time they fall into a difficult financial situation and then their investment falls into failure. Therefore, everyone should be very careful about financial security, being careful about this matter, one should definitely maintain the issue of an emergency fund, this is the security of investment.

[Hardyrobust]

Your point is cleared and understandable, a lot of people get it wrong when they want to start their bitcoin investment, some people keep saying that emergency funds must be ready, which I disagree with them because emergency fund can be built alongside your investment. You can build the two simultaneously from your discretionary income. There's no any problem if you split your discretionary income like 80 - 20, 80% will go for your investment while 20 will stand for your emergency funds. 

In this case, regarding the emergency fund, I don't think there is a particular formula for going about it. I think it depends on the individual. If you believe that you must have an emergency fund before investing in Bitcoin, it is not a bad idea. If you also think you can build an emergency fund while investing in Bitcoin, that is also not a bad approach. The most important thing is having an understanding of the need for an emergency fund; this is even better. The main thing is to get started with investing in Bitcoin, and not having an emergency fund shouldn't be a reason to wait. As long as one understands the role of an emergency fund, it will definitely be part of the plan while investing in Bitcoin.

I completely agree that there isn't one universal rule about the need to create an emergency fund before starting to invest in Bitcoin. Each person has his or her own financial situation, income, and responsibility. As for me, I believe it is quite okay to begin investing in such assets with a small sum of money while simultaneously creating an emergency fund. Waiting for when all the finances become absolutely perfect will result in postponing the investment process for many years ahead. But it should be noted that it is necessary not to neglect the need for funds which could be used to cover any unforeseen expenses because otherwise, a person would be obliged to get rid of Bitcoin in unfavorable market conditions.

Getting rid of bitcoin due to unfavorable market conditions is a trader’s mission who’s in for a quick profit and not really for long term goal. If an individual fails to build up his emergency funds while investing In bitcoin the investor is likely going to sell when he encounters an emergency situations so as to raise cash to settle the situation. But selling due to unfavorable market conditions is not because of emergency funds unavailable but because the investors focus is already on making quick profit and because the market is no longer moving as he wants it to be he start panicking to sell. And another thing that mostly results to this act of selling due to unfavorable market condition is because the investor fails to invest with a discretionary income that he won’t be needing anytime soon.

There is need to have an emergency funds because when unforeseen circumstances arise, you may push into tempering with your bitcoin investment. There are circumstances that are beyond our control , if face with such circumstances and there is no funds that has been kept to tackle such occurrence like an emergency funds. We maybe left with the only option of tempering with our bitcoin investment and it won't be a bad idea if someone that is face with life threatening that doesn't have an emergency funds then decide to fall back to there bitcoin investment to treat themselves. So in other to avoid being push into tempering with our bitcoin investment during an emergency there is need to set up an emergency funds.

[Jewan420]

There is need to have an emergency funds because when unforeseen circumstances arise, you may push into tempering with your bitcoin investment. There are circumstances that are beyond our control , if face with such circumstances and there is no funds that has been kept to tackle such occurrence like an emergency funds. We maybe left with the only option of tempering with our bitcoin investment and it won't be a bad idea if someone that is face with life threatening that doesn't have an emergency funds then decide to fall back to there bitcoin investment to treat themselves. So in other to avoid being push into tempering with our bitcoin investment during an emergency there is need to set up an emergency funds.

If there is no emergency fund to deal with the emergency and you face an emergency, then you are bound to intervene in the investment. But I cannot call it a good decision to intervene in the investment fund at any moment because of not taking the necessary steps, because it is really a bad decision. Even through this, it reflects your poor management.

Suppose you have gone to the forest for hunting, but did not take a gun/knife as a defense, then whose fault will it be if an animal attacks you? Would you then call accepting defeat against the animal a good decision? Investment is a long-term plan, so to succeed in this plan in the long term, you must be prudent and foresight.

[Jamestown70]

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It is not compulsory that someone must start investing in Bitcoin with their emergency funds ready no, but it is necessary to have your emergency funds ready while you start your Bitcoin investment and like I said it is not compulsory but it's necessary these are two important or key words we should note and we should understand the difference between them so we don't misinterpret. When I said it is not compulsory it means that one can start without emergency funds then why I said it's necessary it's because of, if there is any sudden challenge our emergency funds can help us.

For me I will  recommend  that those without an emergency fund can build it alongside while also Accumulating Bitcoin. That way, they can stay consistent  in Accumulating bitcoin without having to worry about future emergencies. And with  DCA they can keep their  long term plan intact.

There are many who, due to the temporary excitement of investing, wait for their financial security, they continue to invest without any kind of emergency fund but they do not even think of creating an emergency fund, such investors usually face reality after some time, and at that time they fall into a difficult financial situation and then their investment falls into failure. Therefore, everyone should be very careful about financial security, being careful about this matter, one should definitely maintain the issue of an emergency fund, this is the security of investment.

Sorry to say, do you really understand the meaning of the financial security you’re talking about, and what exactly are we being careful for over financial security, do you really understand the quote you’re replying to?.
I’ll do well to explain to you what financial security means to the best of my knowledge, an investor or folk that is financially secured are persons that have available fund to take care of their needs or whatever they find necessary to get and they don’t seem to be worried about getting money to sort out these things.

I guess what you’re trying to say is that, there are many who wait to be financially secured before they start investing in Bitcoin. For someone who want to invest in Bitcoin, it’s not really wise to be financially secured before starting Bitcoin accumulation, because the the process of the accumulating has been made accessible even to the average guys, folk can literally buy Bitcoin at rate of $1, 2$, 5$ or any amount they can be able to come up with as discretionary.

Secondly, folk not getting emergency fund available should not be seen as a benchmark for not investing, rather, folk can allocate %50 to their Bitcoin investment, 30% to their emergency funds and 20% for their discretionary consumption. Note, this percentage or allocations can differ as per different individuals preference.

[JayJuanGee]

[edited out]

Without thinking twice the fucking waiting for Bitcoin to dip before buying is the major difference between waiting for the dip and lump sum. Just like DCA strategy doesn't care about the time and price, ordinarily lump sum doesn't care also. As long as the cash is available to accumulate Bitcoin you just lump sum. The other way round, waiting for the dip is keeping aside certain amount of dollars whether big or small in hope of Bitcoin dropping before buying which may or may not happen. Lump sum doesn't fucking wait for a dip to talk of perfect dip.

I agree with everything that you said, yet if we are trying to be realistic, there may well be circumstances that guys could become motivated to earn more money during dips or even to go out and to free some funds from some other location based on their having had been inspired to buy more bitcoin based on the dip.  

Frequently, I suggest that guys should try to stop themselves from becoming overly emotional about dips, so maybe if they are making some tweaks to be more aggressive (within reasonable boundaries) based on dips, then they largely would not be deviating too much from their already existing plan but instead thinking that they might be able to get more sats for the same amount of dollars - which motivates them to seek out additional funds that they might have had allocated for some other purpose and then they decide to reallocate those funds to buy some more bitcoin.

In the end, if a guy ends up overly doing his allocation into bitcoin and perhaps neglecting some other expenses that he has or maybe ignoring some expenses that might well be important and/or hoping to receive higher income in the future and then he ends up miscalculating, then he could end up putting himself into otherwise unnecessary psychological and/or financial stress based on the miscalculations that he had made at various points along  the way.

So many times, active guys here (including myself) will stress a certain importance towards being somewhat price agnostic, even though there likely are going to be times that guys still end up getting excited about the price and/or even getting excited about the extent to which their bitcoin holdings are "in profits," and many times there wouldn't be problems for guys to be monitoring those kinds of bitcoin price performance dynamics as long as they are mostly able to control their behaviors, including extremes in their behavior, so for example, maybe a guy who had been buying $100 worth of bitcoin per week ends up getting a $1k bonus, and so then he gets excited because he knows that the $1k is the equivalent of 10 weeks of his regular buys of bitcoin, so he might strategize around that $1k, since it is bonus money.. and so he could end up using all of it right away or maybe he puts a portion of that money, such as $333.33 into each of the categories of DCA, buy right away and/or buying the dip.  It is good to have options, even if a guy might also be mostly sticking with his regular plans, yet since none of us are robots, we likely have moments that we might get excited about things happening in the market.

[edited out]

Imagine a newbie who bought when Bitcoin dipped to $80k then few months later Bitcoin dipped to $60k such person would likely panic which is why instead of buying only during dips a new especially should buy consistently which would help ease emotions that might trigger panic, buying during dips is not for people who ain't used to the market.

 That's why the DCA is mostly appreciated than other strategies, it helps kill the fear of lose when volatility downtrends occurs and people can still buy dips while doing the DCA so instead of just buying during dips, they can still be consistent with buying and take advantage of dips that would occur during that period.

As your example seems to show is that many times, the guy who is just ongoingly buying bitcoin without paying so much attention to the BTC price, especially for his first cycle or maybe even his first 2 cycles, he is likely going to end up doing better than the guy who is fucking around with trying to buy dips, holding back for dips and then trying to increase buy amounts for dips, and so there could be instances in which he ends up doing better, yet he would also be taking a lot of chances too rather than just staying focused on ongoingly buying bitcoin.

In this case, regarding the emergency fund, I don't think there is a particular formula for going about it. I think it depends on the individual. If you believe that you must have an emergency fund before investing in Bitcoin. it is not a bad idea . If you also think you can build an emergency fund while investing in Bitcoin, that is also not a bad approach. The most important thing is having an understanding of the need for an emergency fund; this is even better. The main thing is to get started with investing in Bitcoin, and not having an emergency fund shouldn't be a reason to wait. As long as one understands the role of an emergency fund, it will definitely be part of the plan while investing in Bitcoin.

I think is best to be a low coiner as soon as you decide to start your bitcoin investment with your discretionary income than staying more time as a no coiner because the price of bitcoin increases overtime and time waits for no man which is why you should use your time wisely to invest quick and grow your bitcoin portfolio overtime.

If you want to start waiting till you build your emergency funds up to three months of your monthly expenses, you will waste a lot of time and miss enough opportunities in the market that you should have used to build your bitcoin stash to a good size. This is why you should start buying bitcoin immediately, you have figured out your discretionary income as a brand new investor and build your emergency funds simultaneously with your bitcoin investment.

It takes an investor with low discretionary income a year or more to be his emergency funds of at least three months of his monthly expenses. You can share your discretionary income into three equal parts. The first 33.3% for your regular weekly DCA, the second 33.3% for building your emergency funds and the last 33.3% for your discretionary income consumption. It's good to strike a balance between your bitcoin investment and your emergency funds at the beginning of your bitcoin investment in order to avoid mistake that will lead to delay in increasing your bitcoin stash overtime.

FTFY

If you are dividing your discretionary income into three parts, then you are not putting the one part back into where it came from, you are using that 1/3 part for discretionary consumption - which means spending on whatever you want, which is a part of wants, and not needs, since you would have had already accounted for your needs prior to knowing how much discretionary funds are still available after accounting for your needs  (your basic expenses such as lodging, utilities, food, transportation).

There may be no need for this TBH, one good source of income would even give you what multiple source of income wouldn't, most people who run around for multiple sources of income are not specialized, specialization in a given career increases your value and companies are ready to pay you more for your services and in turn you will have more discretionary income available to increase your buying amount into bitcoin as well as build your backup funds at a faster pace. Emergency fund is very important to protect your bitcoin, you need to have plans for your emergency funding ASAP you start your bitcoin investment journey, emergency can come anytime and it is a great disservice to your portfolio that emergency made you depreciate it simply because you neglected to build an emergency fund to tackle it.

How a person earns and in what way he earns is the freedom of every person. Not everyone's situation is the same in terms of income sources and not everyone works in the same organization. Even not everyone has the same amount of income from income sources. So we do not know who needs multiple sources of income and who can earn more money from the main source of income.

But if someone plans multiple sources of income for investment purposes, instead of trying to maximize the income from the main source of income, then I would definitely suggest that you give priority to the main source of income first and then you can have multiple sources of income if you want. Whether you want to earn $100 or $500 is your choice, but you should try your best in each case. If possible, there is nothing wrong with trying to increase discretionary money by having multiple sources of income, but it should not be done at the expense of the main source of income. In the case of emergency funds, emergency funds are not mandatory before investments, but after investments.

It can be problematic when guys believe that they can get more than one source of income, and then to conclude that they are creating an emergency fund (or able to substitute a second job for emergency funds).  They still need some level of emergency funds, and it is best to try to figure out some reasonable way to build emergency funds at the same time as building the bitcoin stack size.  

Of course, in the very beginning, it is likely that most normal people have at least some level of back up funds, such as a week of their expenses and maybe even more... yet if we get into worse case scenario kinds of situations in which a person has absolutely no back up funds, then they might either have to wait one more pay period before buying bitcoin or maybe to just divide their available discretionary funds in half and put half into buying bitcoin and the other half into starting to build their back up funds.. and yeah, it could take 1 year or more to build back up funds and even invest into bitcoin around 3 months of their expenses.. but the more that they build up both their bitcoin holdings and their back up funds, more likely their psychology will improve and even their feelings of having wealth will improve, even though part of the value of having the wealth and the option to spend the wealth comes from ongoingly building it rather than getting lured into spending it merely because it has gotten built to such levels that it tends to contribute towards feelings of having wealth.

Your point is cleared and understandable, a lot of people get it wrong when they want to start their bitcoin investment, some people keep saying that emergency funds must be ready, which I disagree with them because emergency fund can be built alongside your investment. You can build the two simultaneously from your discretionary income. There's no any problem if you split your discretionary income like 80 - 20, 80% will go for your investment while 20 will stand for your emergency funds. 

In this case, regarding the emergency fund, I don't think there is a particular formula for going about it. I think it depends on the individual. If you believe that you must have an emergency fund before investing in Bitcoin, it is not a bad idea. If you also think you can build an emergency fund while investing in Bitcoin, that is also not a bad approach. The most important thing is having an understanding of the need for an emergency fund; this is even better. The main thing is to get started with investing in Bitcoin, and not having an emergency fund shouldn't be a reason to wait. As long as one understands the role of an emergency fund, it will definitely be part of the plan while investing in Bitcoin.

I completely agree that there isn't one universal rule about the need to create an emergency fund before starting to invest in Bitcoin. Each person has his or her own financial situation, income, and responsibility. As for me, I believe it is quite okay to begin investing in such assets with a small sum of money while simultaneously creating an emergency fund. Waiting for when all the finances become absolutely perfect will result in postponing the investment process for many years ahead. But it should be noted that it is necessary not to neglect the need for funds which could be used to cover any unforeseen expenses because otherwise, a person would be obliged to get rid of Bitcoin in unfavorable market conditions.

Getting rid of bitcoin due to unfavorable market conditions is a trader’s mission who’s in for a quick profit and not really for long term goal. If an individual fails to build up his emergency funds while investing In bitcoin the investor is likely going to sell when he encounters an emergency situations so as to raise cash to settle the situation. But selling due to unfavorable market conditions is not because of emergency funds unavailable but because the investors focus is already on making quick profit and because the market is no longer moving as he wants it to be he start panicking to sell. And another thing that mostly results to this act of selling due to unfavorable market condition is because the investor fails to invest with a discretionary income that he won’t be needing anytime soon can afford to lose.

FTFY.

When investing in bitcoin, it is best to use money that you can afford to lose, so that you do not get attached to the value and/or get worried about losing value when the BTC price might end up going down for extended periods of time.

It seems a lot better to not be attached to the money, and it is even better when bitcoin newbies (and even those who have been buying bitcoin for a while) get into a practice in which they are ongoingly buying bitcoin (perhaps on a weekly basis?) for years and years into the future, so they are not even focused on the value of their bitcoin holdings because they are ongoingly buying more and more bitcoin, which likely ends up paying off in the long run, even though there are no guarantees that they are going to either profit or even get back the amount of money that they had invested into bitcoin over the years.

[Big Dirams]

There is need to have an emergency funds because when unforeseen circumstances arise, you may push into tempering with your bitcoin investment. There are circumstances that are beyond our control , if face with such circumstances and there is no funds that has been kept to tackle such occurrence like an emergency funds. We maybe left with the only option of tempering with our bitcoin investment and it won't be a bad idea if someone that is face with life threatening that doesn't have an emergency funds then decide to fall back to there bitcoin investment to treat themselves. So in other to avoid being push into tempering with our bitcoin investment during an emergency there is need to set up an emergency funds.

If there is no emergency fund to deal with the emergency and you face an emergency, then you are bound to intervene in the investment. But I cannot call it a good decision to intervene in the investment fund at any moment because of not taking the necessary steps, because it is really a bad decision. Even through this, it reflects your poor management.

Suppose you have gone to the forest for hunting, but did not take a gun/knife as a defense, then whose fault will it be if an animal attacks you? Would you then call accepting defeat against the animal a good decision? Investment is a long-term plan, so to succeed in this plan in the long term, you must be prudent and foresight.

As an investor the moment we start our DCA strategy and embark on the journey of holding for long term and future securing then on Know account should we plan or even think of intervening on our bitcoin just over any situation or emergency. Never should we go close to our holding and thinking of selling them to settle our problems, which is why the availability of our emergency funds is a necessary thing to be present in our journey for scenarios like this. 

Have the long term mindset and keep up with constant accumulation and never should we sell our holdings or touch them for any reason, the mindset is the long term goal not short term gains.

[SmartCharpa]

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It is not compulsory that someone must start investing in Bitcoin with their emergency funds ready no, but it is necessary to have your emergency funds ready while you start your Bitcoin investment and like I said it is not compulsory but it's necessary these are two important or key words we should note and we should understand the difference between them so we don't misinterpret. When I said it is not compulsory it means that one can start without emergency funds then why I said it's necessary it's because of, if there is any sudden challenge our emergency funds can help us.

For me I will  recommend  that those without an emergency fund can build it alongside while also Accumulating Bitcoin. That way, they can stay consistent  in Accumulating bitcoin without having to worry about future emergencies. And with  DCA they can keep their  long term plan intact.

There are many who, due to the temporary excitement of investing, wait for their financial security, they continue to invest without any kind of emergency fund but they do not even think of creating an emergency fund, such investors usually face reality after some time, and at that time they fall into a difficult financial situation and then their investment falls into failure. Therefore, everyone should be very careful about financial security, being careful about this matter, one should definitely maintain the issue of an emergency fund, this is the security of investment.

If you invest without an emergency fund, you may end up touching your investment. For example, at this point when the market is going down, you know that life is unpredictable and we don’t know when we will have a financial problem that needs to be fixed immediately. If you as an investor have no other means to solve the problem, you have no choice but to touch part of your investment. Whether you are losing or not, you will sell at that point, and that’s why many investors do not succeed with their investment.

It’s not advisable for anyone to continue buying without setting aside an emergency fund. It’s very risky to ignore an emergency fund. Some individuals may find it difficult to set one aside from the beginning of their investment, but that doesn’t mean you should avoid it while buying. We might regret not setting aside money for emergencies.

[B-BossMan]

As your example seems to show is that many times, the guy who is just ongoingly buying bitcoin without paying so much attention to the BTC price, especially for his first cycle or maybe even his first 2 cycles, he is likely going to end up doing better than the guy who is fucking around with trying to buy dips, holding back for dips and then trying to increase buy amounts for dips, and so there could be instances in which he ends up doing better, yet he would also be taking a lot of chances too rather than just staying focused on ongoingly buying bitcoin.

That's why I preferred a Dollar cost averaging strategy of consistent bitcoin buying gradually and steady stacking of bitcoin than trying to be gamble on short price market movements. Sometimes some investors who are tend to attempt timing the market price leads to unnecessary stress and missing a huge opportunity. That is why a disciplined investor always keeps on accumulating bitcoin or focusing on building a Bitcoin position for a long-term, than predicting the market price and that's why DCA is the best approach.

However, buying the dip is also beneficial, but it's just an extra opportunity that investors need to take an advantage on buying more bitcoin with any discretionary income that's readily available, rather than timing the market movements.

[Agbam]

Buying bitcoin isn't exactly expensive unless you want to buy alot at one and anyone in that situation can't say they won't be able to save up for their backup funds when they are busy buying what can be considered alot of bitcoin, both our investment and our backup funds come from our discretionary income so we don't have to look for other means to make our backup funds available because that will mean having to go outside of our discretionary income, if you are unsure of what to do then you can split your discretionary income 3 ways, 1 for buying bitcoin, 1 for your backup funds and the last for your discretionary spendings.

The way Bitcoin was designed, anyone can buy at a pace that suits
their financial situation. Whether you're buying a large amount or just $10 a week, Bitcoin itself isn't "EXPENSIVE" if you're using discretionary income and investing consistently.

I also don't think backup funds are only necessary for people making large Bitcoin purchases. Every investor, regardless of portfolio size, should have some form of emergency or backup fund. The amount may differ from person to person, but the principle remains the same.
It’s important to keep accumulating without neglecting your financial safety net.

[Joeboy]

There is need to have an emergency funds because when unforeseen circumstances arise, you may push into tempering with your bitcoin investment. There are circumstances that are beyond our control , if face with such circumstances and there is no funds that has been kept to tackle such occurrence like an emergency funds. We maybe left with the only option of tempering with our bitcoin investment and it won't be a bad idea if someone that is face with life threatening that doesn't have an emergency funds then decide to fall back to there bitcoin investment to treat themselves. So in other to avoid being push into tempering with our bitcoin investment during an emergency there is need to set up an emergency funds.

Regardless of the numbers of years folks have held for, if an investor wait until he faces a life threatening situation before looking for a way of of it, then that investor is simply a gambler... Prevention is far more better than cure, so an investor should make necessary step to build even if it is at least 3 month of emergency funds without over-doing or under-doing it...Already it is common knowledge that emergency situations could happen without giving any kind of prior notice, and that's the more reason why building backup funds and/or emergency funds is very important... There shouldn't be trade-offs, cause you investment is equally as important as having an emergency fund...So while investing, folks can also build alongside their backup/or emergency funds..

[BluebloodCXVI]

The way Bitcoin was designed, anyone can buy at a pace that suits
their financial situation. Whether you're buying a large amount or just $10 a week, Bitcoin itself isn't "EXPENSIVE" if you're using discretionary income and investing consistently.

This your idea that bitcoin is not expensive just because it is divisible and you can be able to buy small amounts of it is not really an accurate statement. The affordability of bitcoin by an individual depend on that individual’s financial predicament. In an instance where a person has limited disposable income available to them, even to buy $10 worth of bitcoin may not be realistic for them because they probably don’t even have enough money left with them after covering their expenses, now what do you say about that ?.

How a person earns and in what way he earns is the freedom of every person. Not everyone's situation is the same in terms of income sources and not everyone works in the same organization. Even not everyone has the same amount of income from income sources. So we do not know who needs multiple sources of income and who can earn more money from the main source of income.

But if someone plans multiple sources of income for investment purposes, instead of trying to maximize the income from the main source of income, then I would definitely suggest that you give priority to the main source of income first and then you can have multiple sources of income if you want. Whether you want to earn $100 or $500 is your choice, but you should try your best in each case. If possible, there is nothing wrong with trying to increase discretionary money by having multiple sources of income, but it should not be done at the expense of the main source of income. In the case of emergency funds, emergency funds are not mandatory before investments, but after investments.

I tend to see myself as a multifaceted person because i like to look at things from a different perspective. That being said , this your idea that people should always prioritize the income that is coming from their main source of income before they go seeking an additional source of income is not really accurate in my own opinion. The reason why i say this is because many people work in jobs that either don’t pay them well enough, or they probably have fixed salaries and no matter how hard they work, their income doesn’t seem to change much for them. In this kind of situation, i believe that having a side hustle may be the only practical way for them to increase their discretionary income. And I don’t think that it in all cases that a person’s side hustle will interfere with their main job because I believe there are many side hustles that are flexible enough to complement a person’s full time job rather than competing with it.

[impulse709]

There is need to have an emergency funds because when unforeseen circumstances arise, you may push into tempering with your bitcoin investment. There are circumstances that are beyond our control , if face with such circumstances and there is no funds that has been kept to tackle such occurrence like an emergency funds. We maybe left with the only option of tempering with our bitcoin investment and it won't be a bad idea if someone that is face with life threatening that doesn't have an emergency funds then decide to fall back to there bitcoin investment to treat themselves. So in other to avoid being push into tempering with our bitcoin investment during an emergency there is need to set up an emergency funds.

Regardless of the numbers of years folks have held for, if an investor wait until he faces a life threatening situation before looking for a way of of it, then that investor is simply a gambler... Prevention is far more better than cure, so an investor should make necessary step to build even if it is at least 3 month of emergency funds without over-doing or under-doing it...Already it is common knowledge that emergency situations could happen without giving any kind of prior notice, and that's the more reason why building backup funds and/or emergency funds is very important... There shouldn't be trade-offs, cause you investment is equally as important as having an emergency fund...So while investing, folks can also build alongside their backup/or emergency funds..

I'd like to agree that an emergency fund isn't an extra but a vital component of a BTC investment plan. A lot of people are panicking and selling their Bitcoins the wrong time because they don't have enough liquid cash to cover any emergencies. The pressure can be alleviated and it can be possible to remain on the long-term strategy by paying some of the living costs even after a few months. Bitcoin is a long term investment, while an emergency fund serves as a financial safety net. When they are built side by side, there's a lot more strength and discipline in the approach.

[JayJuanGee]

There is need to have an emergency funds because when unforeseen circumstances arise, you may push into tempering with your bitcoin investment. There are circumstances that are beyond our control , if face with such circumstances and there is no funds that has been kept to tackle such occurrence like an emergency funds. We maybe left with the only option of tempering with our bitcoin investment and it won't be a bad idea if someone that is face with life threatening that doesn't have an emergency funds then decide to fall back to there bitcoin investment to treat themselves. So in other to avoid being push into tempering with our bitcoin investment during an emergency there is need to set up an emergency funds.

If there is no emergency fund to deal with the emergency and you face an emergency, then you are bound to intervene in the investment. But I cannot call it a good decision to intervene in the investment fund at any moment because of not taking the necessary steps, because it is really a bad decision. Even through this, it reflects your poor management.

Suppose you have gone to the forest for hunting, but did not take a gun/knife as a defense, then whose fault will it be if an animal attacks you? Would you then call accepting defeat against the animal a good decision? Investment is a long-term plan, so to succeed in this plan in the long term, you must be prudent and foresight.

As an investor the moment we start our DCA strategy and embark on the journey of holding for long term and future securing then on Know account should we plan or even think of intervening on our bitcoin just over any situation or emergency. Never should we go close to our holding and thinking of selling them to settle our problems, which is why the availability of our emergency funds is a necessary thing to be present in our journey for scenarios like this. 

Have the long term mindset and keep up with constant accumulation and never should we sell our holdings or touch them for any reason, the mindset is the long term goal not short term gains.

On a personal level, I hate to claim that "never" (or other absolutes) exist or should exist when it comes to something discretionary such as bitcoin accumulation, bitcoin investment management and/or cashflow management.

We always have choices, and sure, maybe we discipline ourselves into making certain choices over other choices.

We choose how robust we make our back up funds (and other aspects of our cashflow management), and if we are managing our bitcoin accumulation and our cashflows in solidly good ways, then we are likely to frequently have options in those kinds of situations in which our income might go down and/or our expenses might go up.  When those kinds of events play out, then we are in a better position when we have options as compared with if we might have had depleted all of our back up funds, then we might have had run out of options, and they ONLY thing  that we have left in order to resolve our loss of income and/or increase in expenses is to sell bitcoin.  That would not be a good place to be, and hopefully we either do not put ourselves into such a position and/or if we do end up putting ourself in such a situation that we learn how to not put ourself in such situation in the future.

The way Bitcoin was designed, anyone can buy at a pace that suits
their financial situation. Whether you're buying a large amount or just $10 a week, Bitcoin itself isn't "EXPENSIVE" if you're using discretionary income and investing consistently.

This your idea that bitcoin is not expensive just because it is divisible and you can be able to buy small amounts of it is not really an accurate statement. The affordability of bitcoin by an individual depend on that individual’s financial predicament. In an instance where a person has limited disposable income available to them, even to buy $10 worth of bitcoin may not be realistic for them because they probably don’t even have enough money left with them after covering their expenses, now what do you say about that ?.

I understand that we may well presume that some folks struggle to make sure that they are not investing with money that is beyond their discretionary funds, yet I am not sure why we would presume that a guy would be sloppy enough to invest beyond his discretionary funds, because so many times, in this thread, we emphasize that guys should be using discretionary funds to buy bitcoin.  Sure, guys make mistakes and they don't necessarily know what they are doing, yet I don't see why we should presume that they are not at least trying to deploy reasonably good practices.  How does your point help anyone, if you were trying to show that some folks do not have discretionary funds, but they still try to buy bitcoin.   None of us are recommending that normies engage in that kind of conduct, right?

[samadam007]

I understand that we may well presume that some folks struggle to make sure that they are not investing with money that is beyond their discretionary funds, yet I am not sure why we would presume that a guy would be sloppy enough to invest beyond his discretionary funds, because so many times, in this thread, we emphasize that guys should be using discretionary funds to buy bitcoin.  Sure, guys make mistakes and they don't necessarily know what they are doing, yet I don't see why we should presume that they are not at least trying to deploy reasonably good practices.  How does your point help anyone, if you were trying to show that some folks do not have discretionary funds, but they still try to buy bitcoin.   None of us are recommending that normies engage in that kind of conduct, right?

Your point is valid sir Jay. The advice always shared on this thread is for folks to consistently buy Bitcoin with discretionary funds, so it doesn't make much sense to assume that most folks are investing money they need for essential expenses. Even though some folks tends to make poor financial decisions, it is shouldn't become the basis for every discussion. I feel it more beneficial to continue promoting responsible investing habit and encourage them to manage their finances well

The goal is to build sustainable investment approach where we can continue accumulating over the long term without putting unnecessary pressure on everyday finances.