JJG’s Outline of Bitcoin Investment Ideas

[Primark]

investment is equally as important as having an emergency fund...So while investing, folks can also build alongside their backup/or emergency funds..

I agree with you on this part. Because their is no way an investment especially longterm investment can be successful or grow to a stage of maturity without having plans of setting up an emergency funds. However, having an emergency funds in place isn't just for formality sake, it's there to solve real future issues that can jeopardize or dismantle your investment goals. Not considering having it in place alongside your investment journey is as good as going to hunting without carring a gun, that's to tell how important the emergency funds means to bitcoin investment.

Bitcoin investment emergency fund must be formed, there is no alternative method, but starting Bitcoin investment is the most important. Start investing in Bitcoin first, then all other thoughts you have money you keep buying Bitcoin. And along with investing in Bitcoin, you will get the opportunity to form an emergency fund and then you will try to protect your Bitcoin investment yourself. As a result, the money that you keep to protect your Bitcoin investment to face danger is the emergency fund.
That is why every person should definitely form an emergency fund to protect his Bitcoin investment. So that in the future days you can be successful in your Bitcoin investment journey without danger.

The importance of an emergency fund cannot be denied. Because in real life, you yourself do not know what awaits you in the future. For example, your income may stop, medical expenses may come, family pressure may come or anything can happen when it becomes important. If there is no emergency fund, then we may be forced to sell Bitcoin against our will, even at a loss. But this does not mean that the rules will be the same for everyone or that Bitcoin cannot be started unless the emergency fund is fully built first. Again, your statement that you have to buy Bitcoin first and then you can think about everything else is not right. Both of these aspects seem quite extreme.

 So in my opinion, the main thing should be to take into account necessary expenses, daily living, debt, family, emergency expenses, and then make a decision from there. If someone has discretionary income after deducting these expenses, then they can continue saving Bitcoin with one part and create an emergency fund with the other part. Here, actually, a specific percentage will not be applicable to everyone.

[GeorgeJohn]

I don't think people should wait until their emergency fund is perfect before starting. If folks already have discretionary income, they can begin using the DCA strategy and build their emergency fund alongside it by using some percentage of their discretionary income to buy bitcoin  while also using the remaining percentage to build their emergency fund. That way they are accumulating Bitcoin while also preparing for life unexpected situations.

Anyone who have passion to own Bitcoin will make a provision to buy bitcoin, it's not most that you will saved out enough money before you can buy bitcoin..The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

If you have the passion to have bitcoin, you will create a strategies of how make the funds available...I could remember when I bought bitcoin in 2013, I did wait until I have emergency funds before I could get a bitcoin..what makes to buy bitcoin because I have the passion on it...their's no time or season that's perfect time to accumulate bitcoin, only if you have the foresight on bitcoin, you will buy without waiting for any season or emergency funds.

[Supreme Donvic]

Bitcoin investment emergency fund must be formed, there is no alternative method, but starting Bitcoin investment is the most important. Start investing in Bitcoin first, then all other thoughts you have money you keep buying Bitcoin. And along with investing in Bitcoin, you will get the opportunity to form an emergency fund and then you will try to protect your Bitcoin investment yourself. As a result, the money that you keep to protect your Bitcoin investment to face danger is the emergency fund.
That is why every person should definitely form an emergency fund to protect his Bitcoin investment. So that in the future days you can be successful in your Bitcoin investment journey without danger.

I agree with you,an emergency fund is what will protect your Bitcoin when real life emergencies occurs. Emergency is an unexpected occurrence which means emergency could happen anytime without any prior notice. It is important to build your emergency fund alongside your bitcoin investment because emergency happens unexpectedly.  If you don't build your emergency fund and bitcoin investment Stimutatoulsly,if you are only focusing on investing, what if an emergency occurs, you may be forced to tamper with your bitcoin because you failed to setup your emergency fund . So It is important folks setup their emergency and reserve funds alongside their bitcoin investment  since they don't know when an emergency will occur.

I don't think people should wait until their emergency fund is perfect before starting. If folks already have discretionary income, they can begin using the DCA strategy and build their emergency fund alongside it by using some percentage of their discretionary income to buy bitcoin  while also using the remaining percentage to build their emergency fund. That way they are accumulating Bitcoin while also preparing for life unexpected situations.

Yes you don't have to wait just like you said the best thing is to use some percentage of your discretional income to accumulate Bitcoin and then use some part to build your emergency funds if you are waiting to build a very strong emergency funds before you can start accumulating Bitcoin you are making a mistake, when you build the two together you will be more faster in your bitcoin accumulation journey.

[laijsica]

I don't think people should wait until their emergency fund is perfect before starting. If folks already have discretionary income, they can begin using the DCA strategy and build their emergency fund alongside it by using some percentage of their discretionary income to buy bitcoin  while also using the remaining percentage to build their emergency fund. That way they are accumulating Bitcoin while also preparing for life unexpected situations.

Anyone who have passion to own Bitcoin will make a provision to buy bitcoin, it's not most that you will saved out enough money before you can buy bitcoin..The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

If you have the passion to have bitcoin, you will create a strategies of how make the funds available...I could remember when I bought bitcoin in 2013, I did wait until I have emergency funds before I could get a bitcoin..what makes to buy bitcoin because I have the passion on it...their's no time or season that's perfect time to accumulate bitcoin, only if you have the foresight on bitcoin, you will buy without waiting for any season or emergency funds.

Waiting to accumulate enough funds before buying Bitcoin can waste valuable time. We often regret that if we had known about Bitcoin holdings earlier and had been able to apply the necessary strategies, we would have owned a huge amount of Bitcoin holdings today. New investors tend to make several mistakes because they are completely new to the investment platform. They condition their buy of Bitcoin that they will not buy before the price drops further but they should have realized that the price of Bitcoin may increase further tomorrow and such a dip may not happen in the future.

[SOKO-DEKE]

Yes you don't have to wait just like you said the best thing is to use some percentage of your discretional income to accumulate Bitcoin and then use some part to build your emergency funds if you are waiting to build a very strong emergency funds before you can start accumulating Bitcoin you are making a mistake, when you build the two together you will be more faster in your bitcoin accumulation journey.

We are not even advised to first build an emergency fund before starting Bitcoin investment. It is better to start accumulating Bitcoin first. If we don't have enough discretionary funds to both start accumulating Bitcoin and build an emergency fund at the same time, then anyone who wants to first build an emergency fund before starting accumulation is just wasting time.In fact, I don't even understand the idea of first building an emergency fund before starting to accumulate Bitcoin. The question now is: what are we building an emergency fund for? Is it not to support our Bitcoin investment? So, our focus should be on how to start both together or, if that's not possible, start accumulating Bitcoin first.

[Big Dirams]

The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

You are getting this wrong mate, of course we do need to wait and get our discretionary income available before going into bitcoin investment. Discretionary income are funds left after taking care of our expenses and necessities , in other words it is non essential money that are not meant for anything necessary.
So discretionary income is what we should take to investment and nothing aside that should be taken to investment.

If I can refresh our brain, it is always said that “invest with what you can afford to loss” and discretionary funds of course we can afford to loss them so we need to wait for it availability before starting our investment journey and if availability of discretionary income is in check then the journey can’t begin.
Discretionary income is the only obstacle that can delay our investment.

[Silikiem]

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.

How do you even have to intervene when you don’t have an emergency funds, I’m quite confused with what you’re talking about, emergency funds is an emergency funds, backup funds is a backup funds, there is no other way you will have to intervene or else you’re going to be using money meant for your daily or weekly expenses to intervene like you have said, or you will be using your bitcoin investments to intervene in a situation as such as the one when you have an emergency situation that you have to take care of whatever the emergency is, or you take a loan to solve the problem.

By looking at his statement, it seems like he was trying to say that if you have no emergency funds in place and emergency struck, you may be forced to temper with your bitcoin investment, so he is mistakenly referring tempering as intervene, so I believe that it's just a misused of words.

Because we all are aware of the importance of emergency funds when investing in Bitcoin, because without having them in place to protect your bitcoin investment from any emergency situation that may arise in the future, you are definitely going to sell off your Bitcoin investment when faced with real life emergencies, so it's wrong for anyone to downplay the importance of emergency funds in Bitcoin investment.
The only set of people that can invest in Bitcoin without an emergency funds are the rich, because they have rich uncle's, asset and friends that can bail them out during emergency situation, but if you are not rich, having emergency funds in place to protect your bitcoin investment is a must.

Yes, normally, if we are choosing to invest in bitcoin, then our two main kinds of back up funds are emergency funds and reserve funds, and of course, we could have other asset that we are invested into that we could draw from or we might have friend/relatives who might be willing to bail us out or to give us a loan, so some folks might have resources outside of their back up funds that they could draw upon prior to having to tap into their bitcoin.

We likely know that we have priorities in what we might draw upon and some kinds of back up funds (such as other investments) are more liquid than others and some are more volatile than others, and there may well be a lot of guys who get into bitcoin, and they have nearly no other assets or resources (perhaps maybe family that might bail them out, but maybe only for small kinds of bailouts), yet the longer that they are building their bitcoin investment and their various back up funds, they may well also be making other investments that could help them if they were to need to get bailed out, so they would also likely have a hierarchy of priority, including that if they end up buying a house they might be reluctant to sell it unless they had no other choice, so if some of their other assets are less liquid than bitcoin, there may well end up being choices to sell bitcoin rather than attempting to liquidate certain assets that are less liquid than bitcoin.

Your idea is spotted on, and sometimes I fell that’s folks who have rich relatives to bail them out during emergency situations should not always as a result of that rely solely on their rich relatives to cover their unexpected expenses for life and hence there’s needs for them to equally try as much as they can to have an emergency funds of their own at hand because humans can change, financial conditions, loss of job or failed business ventures may arise to either of the rich relatives which may affect their finance where they might find themselves in positions they couldn’t help anymore. Emergency funds should easily be accessible and available at the time of needs by an individual.

[Fash33]

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?

Is not a good idea for people to buy bitcoin with money they need for important expenses, beginning your bitcoin investment with discretionary income has been a consistent principle throughout here, and we all agree that bitcoin should be bought with discretionary income.
Am not assume that people will ignore this advice or they are careless. I just want to highlight a common mistake that many newbies make, some of newcomers in bitcoin investment believe they are using discretionary funds but they later know they underestimate the future expenses how stable their income would be, at the end they may force to sell at bad time, that’s why I think it always worth to reminding some folks to always manage their cash flow, keep reserves funds, emergency funds, and always invest money they can afford,the purpose of repeating this advice not for people to fail but for them to build good financial habits and escape from common little mistakes.

[Bigjoe33]

Anyone who have passion to own Bitcoin will make a provision to buy bitcoin, it's not most that you will saved out enough money before you can buy bitcoin..The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

Off course, passion controls whatever we do and determines how serious we are or committed we will be, but in an investment like Bitcoin, every purchase or accumulation must be made from discretionary income so that your passion does not put your investment in risk or financial damage. Here is the reason why accumulation must be made from discretionary income and not just based on passion alone...

*Without getting your Discretionary income, you might invest too much of your income or below what should be invested. So getting your Discretionary first is important to avoid that.
*Investing from your main income without getting your Discretionary may get you stranded along the line due to your basic needs that has not been met.
*Investing from your discretionary enables you to invest calmly and investing only what you are afford to lose or money you don't need soonest.
*It enables you gradually build your back up funds from your Discretionary peacefully.

It's either you made a mistake in your use of terms that should be edited to avoid misleading people or it's a wrong investment strategy that should be corrected for a safe investment practice

[Agbam]

The only set of people that can invest in Bitcoin without an emergency funds are the rich, because they have rich uncle's, asset and friends that can bail them out during emergency situation, but if you are not rich, having emergency funds in place to protect your bitcoin investment is a must.

While those from rich families and wealthy people might invest and have people they can fall to in cases of emergencies, it’s still not a good practice to plan your financial affairs with the expectation that someone else will bail you out.

As an individual you should be responsible for your own financial planning and decisions. Having backup funds is important and necessary for every person regardless of their background, wealth or the people around them.

[Jewan420]

While those from rich families and wealthy people might invest and have people they can fall to in cases of emergencies, it’s still not a good practice to plan your financial affairs with the expectation that someone else will bail you out.

As an individual you should be responsible for your own financial planning and decisions. Having backup funds is important and necessary for every person regardless of their background, wealth or the people around them.

It is not a sure thing that someone will help you in times of danger, if they help then it is definitely a positive aspect for you. But you must not leave your valuable assets for something uncertain. Your emergency fund guarantees to help you in times of emergency, but the help of any person is not guaranteed. Even depending on others to manage your investments is a kind of foolishness. Therefore, you have to learn to protect your assets yourself, no one else is committed to protecting your assets.

Even why would you leave your investments on something that does not promise to help protect your investments. But the emergency fund promises to help you. So, delaying the creation of an emergency fund despite having the ability is definitely wrong and harmful to your investments.

[GeorgeJohn]

Waiting to accumulate enough funds before buying Bitcoin can waste valuable time.

That's why emphasizing that you don't need to wait to accumulate funds before purchasing bitcoin..bitcoin price is not constant, it fluctuate, you can purchase now with the little you have and within a week time the price appreciate in values, so we don't need to wait until we make millions before we purchase bitcoin for long-term holding....

The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

You are getting this wrong mate, of course we do need to wait and get our discretionary income available before going into bitcoin investment.

Do you really understand what you quoted? If you are waiting until you have a discretionary income before you purchase bitcoin, that's an indication that you don't have passion for bitcoin..if you wants to accumulate your bitcoin portfolio, you don't need to wait, you can accumulate your bitcoin gradually with what is available in your possession...

[Big Dirams]

The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

You are getting this wrong mate, of course we do need to wait and get our discretionary income available before going into bitcoin investment.

Do you really understand what you quoted? If you are waiting until you have a discretionary income before you purchase bitcoin, that's an indication that you don't have passion for bitcoin..if you wants to accumulate your bitcoin portfolio, you don't need to wait, you can accumulate your bitcoin gradually with what is available in your possession...

Hold on, do you understand how investment really works? like do you even know the money that is used to invest? Having passion for something doesn’t mean you you should go into it carelessly.

Discretionary income is the right funds for buying bitcoin, it is basically money that is left after covering your necessary expenses. Investing non discretionary funds means you are investing money meant for something else and which is a wrong approach. Even gradual accumulation must be done with discretionary income.

[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 ?.

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?

Don’t get me wrong JJG, I wasn’t proclaiming that folks should use money beyond their discretionary income to invest nor was i recommending anybody to engage in that kinds of conduct; i’m way too enlightened to give such a preposterous advice to a person. I was only simply trying to make an argument that the divisibilty of bitcoin(being able to buy small fractions of it) alone doesn’t equal affordability. And I made an example of an instance where somebody didn’t have any discretionary income left with them after they had taken care of their essential expenses, in that kind of scenario, it could be hard for them to even make as little as a $10 purchase because they don’t have any more disposable money left with them. So basically my comment was just about pushing back on @Agbams idea that bitcoin can’t be expensive just because people can be able to buy it in small fractions and to also point out that we can only be able to determine how affordable bitcoin is to purchase based on our financial situation and not just because we think it is cheap to buy.

[Brizi5000]

I don't think people should wait until their emergency fund is perfect before starting. If folks already have discretionary income, they can begin using the DCA strategy and build their emergency fund alongside it by using some percentage of their discretionary income to buy bitcoin  while also using the remaining percentage to build their emergency fund. That way they are accumulating Bitcoin while also preparing for life unexpected situations.

Anyone who have passion to own Bitcoin will make a provision to buy bitcoin, it's not most that you will saved out enough money before you can buy bitcoin..The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

If you have the passion to have bitcoin, you will create a strategies of how make the funds available...I could remember when I bought bitcoin in 2013, I did wait until I have emergency funds before I could get a bitcoin..what makes to buy bitcoin because I have the passion on it...their's no time or season that's perfect time to accumulate bitcoin, only if you have the foresight on bitcoin, you will buy without waiting for any season or emergency funds.

Those without a discretionary income cannot invest In bitcoin and it’s as simple as that. So I don’t think it’s a mistake if anyone waits until they are able to figure out  a discretionary income before they can start investing in bitcoin because what they need to start investing is the discretionary income which means that without it they cannot comfortably buy bitcoin and hold for long term interest which should be the goal of every long term bitcoin investor. except you’re advising them to use cash meant to sort out their basic needs to invest In bitcoin and that will be a very wrong advise which they will end up regretting tomorrow because they will definitely sell their bitcoin investment when they are hit by basic financial obligations and because of the high volatility of bitcoin they might be selling at a huge loss and at such they are no longer investors but they are gambling and trading. It is a more bigger mistake not to invest with a discretionary income and not a mistake if they wait until they are able to figure out a discretionary income to use and invest In bitcoin because if they use their discretionary income to invest they can comfortably hold for longer time because this is the cash they won’t be needing anytime soon.

[Rockson1]

Do you really understand what you quoted? If you are waiting until you have a discretionary income before you purchase bitcoin, that's an indication that you don't have passion for bitcoin..if you wants to accumulate your bitcoin portfolio, you don't need to wait, you can accumulate your bitcoin gradually with what is available in your possession...

I didn't want to quote the user you were quoting but yours that is why I edited his post out, now I want to ask you what you understand by discreationary income? Don't get it twisted or to heart that I'm asking this question, but I want to know because it seems you are a kinda confused.
Just as I know, discreationary income is just a left over funds after we are done meeting up with our essential or basic needs and with what we know, that is the fund that we are supposed to invest with in Bitcoin, what you called small amount might be some  else's  discreationary income since it is what the person can afford, that small amount should strictly be your discreationary income, it should not be funds meant to cover up any other expenses, to me discreationary income it is.

[Hardyrobust]

Waiting to accumulate enough funds before buying Bitcoin can waste valuable time.

That's why emphasizing that you don't need to wait to accumulate funds before purchasing bitcoin..bitcoin price is not constant, it fluctuate, you can purchase now with the little you have and within a week time the price appreciate in values, so we don't need to wait until we make millions before we purchase bitcoin for long-term holding....

The mistake most of us make, is that we do wait until we have discretionary income before we buy bitcoin or accumulate our bitcoin....

You are getting this wrong mate, of course we do need to wait and get our discretionary income available before going into bitcoin investment.

Do you really understand what you quoted? If you are waiting until you have a discretionary income before you purchase bitcoin, that's an indication that you don't have passion for bitcoin..if you wants to accumulate your bitcoin portfolio, you don't need to wait, you can accumulate your bitcoin gradually with what is available in your possession...

You can't invest in bitcoin without discretionary income . So whoever that doesn't have discretionary income is not supposed to invest in bitcoin, they are to wait until they are able to figure out there discretionary income before they can invest in bitcoin. Therefore, he is right about what he said. The most important thing before anyone can invest in bitcoin is for them to be able to figure out if they have discretionary income to invest in bitcoin, if not they will have to wait until they are able to generate discretionary income before they can start accumulating bitcoin.

[ejikeme24]

If you have the passion to have bitcoin, you will create a strategies of how make the funds available...   I could remember when I bought bitcoin in 2013, I did wait until I have emergency funds before I could get a bitcoin ..what makes to buy bitcoin because I have the passion on it...their's no time or season that's perfect time to accumulate bitcoin, only if you have the foresight on bitcoin, you will buy without waiting for any season or emergency funds.

From my judgment it seems that you were prioritizing emergency funds instead of discretionary funds and how long does it take before you were able to figure out your emergency funds? Let me quickly remind you, as a low coiner who have not had Bitcoin the moment you figure out that you have discretionary income you should start investing as soon as possible then on the process of doing that, you can start building your emergency fund.  I'm saying these just for you to know that you have mixed priority from the beginning of your investment so while teaching other beginners don't tell them to wait until they figure out Thier emergency fund when there's an existing discretionary income for them to get started with their bitcoin investment.

[Alonso_]

Do you really understand what you quoted? If you are waiting until you have a discretionary income before you purchase bitcoin, that's an indication that you don't have passion for bitcoin..if you wants to accumulate your bitcoin portfolio, you don't need to wait, you can accumulate your bitcoin gradually with what is available in your possession...
[/quote] How are you supposed to invest in Bitcoin without a discretionary income? You’re absolutely incorrect with what you’re talking about, you’re only expected to invest in Bitcoin with your discretionary income, that is how you can possibly sustain your investment, you’re not meant to be using money for your expenses to be investing in Bitcoin, you are only supposed to be accumulating bitcoin with your discretionary income.

There are people who have passion for bitcoin, but they don’t have money to buy bitcoin, you don’t buy bitcoin for free, mostly having a discretionary income, so how will you be buying bitcoin when you don’t have money to buy Shelter and groceries for yourself or family.

Focus first on having a source of income, then you can work on your financial expenses, and then trying to figure out your expenses and then figure out your discretionary income, that is how it does work.

[Ruttoshi]

Do you really understand what you quoted? If you are waiting until you have a discretionary income before you purchase bitcoin, that's an indication that you don't have passion for bitcoin..if you wants to accumulate your bitcoin portfolio, you don't need to wait, you can accumulate your bitcoin gradually with what is available in your possession...

You are to accumulate bitcoin with the amount of money that you can afford to lose which finally boils down to your discretionary income. If you don't have any discretionary income and you rush into buying bitcoin, you will rush and sell it at loss if the price is below your entry point when you needs arises. I see it as gambling because you are investing with the money you cannot afford to lose.

It's from your discretionary income that you use to set up your emergency funds if you don't have a discretionary income how will you set up your emergency funds. Because you bought bitcoin with funds for your daily needs doesn't mean that you have passion for bitcoin instead, you are doing it out of FOMO or based on lack of common sense.

A brand new investor needs to start his bitcoin investment with his discretionary income and if he doesn't have he shouldn't invest but look for way to increase his income by getting a second means of income and cut down unnecessary expenses.