JJG’s Outline of Bitcoin Investment Ideas

[alankasman]

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.

It's impossible for someone to invest without having an income to spend as investing will become a problem if forced. However this is done because it's not done for matters related to needs. I think currently many people are only willing to invest if their needs are met and ultimately only invest in Bitcoin. Because many people when they already have finances especially hearing from people who say that investing can yield many profits this discussion is what creates extraordinary enthusiasm for them so we have already obtained the finances they have directly with a fairly aggressive pattern in investing by accumulating Bitcoin entirely in investments so that for needs there is no longer any left to spend. Therefore this is one example that I think is not good in investing in Bitcoin because ultimately doing it will definitely run into problems namely we no longer suffice for needs because the results are entirely focused on buying Bitcoin only for investment.

Because in investing in Bitcoin everything is very easy and there is no need to rush especially regarding the amount to invest, that's why we need to learn how to invest Bitcoin properly. Another thing is that investing doesn't require a large amount, but rather how much discretionary funds are left over regardless of the needs spent. I think that with such a pattern it is very practical to gain maximum profits. With this style we can invest in Bitcoin which will become our old age asset later.

[Grease5000]

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.

It is true  that passion can motivate someone to start, but passion alone is not enough. Because investors,  still need good money management.

If an investor creates funds to buy Bitcoin by sacrificing money meant for essential needs there are high chances of him selling off his bitcoin portfolio if he encounters any emergency situations. For me  I buy only when I have discretionary income because that allows me to stay consistent with DCA without putting myself under pressure. Because passion may get someone started but discipline and using the right money are what keep him accumulating Bitcoin for the long term.

[impulse709]

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.

It's impossible for someone to invest without having an income to spend as investing will become a problem if forced. However this is done because it's not done for matters related to needs. I think currently many people are only willing to invest if their needs are met and ultimately only invest in Bitcoin. Because many people when they already have finances especially hearing from people who say that investing can yield many profits this discussion is what creates extraordinary enthusiasm for them so we have already obtained the finances they have directly with a fairly aggressive pattern in investing by accumulating Bitcoin entirely in investments so that for needs there is no longer any left to spend. Therefore this is one example that I think is not good in investing in Bitcoin because ultimately doing it will definitely run into problems namely we no longer suffice for needs because the results are entirely focused on buying Bitcoin only for investment.

Because in investing in Bitcoin everything is very easy and there is no need to rush especially regarding the amount to invest, that's why we need to learn how to invest Bitcoin properly. Another thing is that investing doesn't require a large amount, but rather how much discretionary funds are left over regardless of the needs spent. I think that with such a pattern it is very practical to gain maximum profits. With this style we can invest in Bitcoin which will become our old age asset later.

I completely side agree that discretion should always be first when investing in Bitcoin. People should not spend money that they need to pay rent, buy food, pay bills and other essentials on something they don't need. Bitcoin is not a quick get rich scheme; it's a long-term investment. Fortunately, it's not a big deal to start with a large amount. It's not just about large, lump-sum investments. Even saving small amounts regularly. From your own pocket, can add up over time. A disciplined approach will always be better than an aggressive approach if that means that you are not taking into account your financial obligations.

[Different patterns]

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.

Most especially for security reason, for someone to have multiple backup options is an important for investors investing in bitcoin, while reserves funds and also emergency funds should only be the first line of defense, the goal should be to create a strong financial foundation where selling of bitcoin should become last resort. To building more assets over time that gives us more financial flexibility, however the more financial cushions we build the more options we have during difficult times, lower the risk of becoming a forced seller and help investors to stay committed to long bitcoin accumulation strategy.

[Futurexxx]

Most especially for security reason, for someone to have multiple backup options is an important for investors investing in bitcoin, while reserves funds and also emergency funds should only be the first line of defense, the goal should be to create a strong financial foundation where selling of bitcoin should become last resort. To building more assets over time that gives us more financial flexibility, however the more financial cushions we build the more options we have during difficult times, lower the risk of becoming a forced seller and help investors to stay committed to long bitcoin accumulation strategy.

Having multiple source of income or asset are very good, because it gives you an additional leverage to protect your bitcoin investment from any real life emergencies aside your emergency funds, but I wishes to let you know that it's not that realistic as you are proclaiming if you are not wealthy or you are not from a rich family, because leverage like that takes years of hard work to be put in place, so it's not that realistic for a low or an average income earner.

What they should focus more on is by buying and accumulating bitcoin consistently through the dca accumulating strategy, and they should also be building an emergency and reserve funds alongside their bitcoin investment, so that emergency situation wouldn't just come and wipe off your Bitcoin investment just like that.

[samadam007]

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.

Everyone financial situation is different like you said, so i think the main priority should be on building a solid plan that can be maintained over time.
Whether they build emergency funds first or builds it while buying BTC….the decision depend on there income, expenses and financial responsibilities.
What matters in long term accumulation of Bitcoin is making sure that your daily needs are taken care of and you're only using money you won't need anytime soon. When finsnces are managed very well, there will be slim chance of forced selling because of unexpected expenses. Just find a balance that will help you to continue to buy Bitcoin consistently without putting yourself under unnecessary financial pressure

[The Founding Titan]

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.

Even the said rich and wealthy have backups as well, you can't rely on others for everytime something goes wrong in your life and one way to protect yourself is to have your emergency fund in place so even if you think you have people you can call onto when things go bad try to understand that they are called emergencies for a reason, the emergency in your situation might that those you expect to bail you out won't be able to at that time so you have to bail yourself out and how do you do that when you don't have your emergency fund in place, this is why people should never joke with their emergency fund, even non bitcoin investors have it in place which is even more reason for a bitcoin investor to make sure to also set up their emergency fund while also buying bitcoin, you can never be too careful.

[Cossyblack]

Even the said rich and wealthy have backups as well, you can't rely on others for everytime something goes wrong in your life and one way to protect yourself is to have your emergency fund in place so even if you think you have people you can call onto when things go bad try to understand that they are called emergencies for a reason, the emergency in your situation might that those you expect to bail you out won't be able to at that time so you have to bail yourself out and how do you do that when you don't have your emergency fund in place, this is why people should never joke with their emergency fund, even non bitcoin investors have it in place which is even more reason for a bitcoin investor to make sure to also set up their emergency fund while also buying bitcoin, you can never be too careful.

I think the rich folk may not necessarily need an emergency fund and reserve fund put in place because they have rich daddy,mummy, friends and rich godfathers that they can rely on in case of emergencies. When face in a real life emergency situation they know they can call on their rich pals for supports but this isn't applicable to everyone because we are not the same, not everyone have rich pals who would back them up in an emergency situation which is why we should have our emergency fund and reserve fund put in place. Bitcoin investment is a personal journey,every investors with different capabilities which is why your emergency fund and reserve funds should be put in place. If others have refuses to build theirs because they have rich daddy and uncles doesn't mean you shouldn't build yours as well.

[The Founding Titan]

Even the said rich and wealthy have backups as well, you can't rely on others for everytime something goes wrong in your life and one way to protect yourself is to have your emergency fund in place so even if you think you have people you can call onto when things go bad try to understand that they are called emergencies for a reason, the emergency in your situation might that those you expect to bail you out won't be able to at that time so you have to bail yourself out and how do you do that when you don't have your emergency fund in place, this is why people should never joke with their emergency fund, even non bitcoin investors have it in place which is even more reason for a bitcoin investor to make sure to also set up their emergency fund while also buying bitcoin, you can never be too careful.

I think the rich folk may not necessarily need an emergency fund and reserve fund put in place because they have rich daddy,mummy, friends and rich godfathers that they can rely on in case of emergencies. When face in a real life emergency situation they know they can call on their rich pals for supports but this isn't applicable to everyone because we are not the same, not everyone have rich pals who would back them up in an emergency situation which is why we should have our emergency fund and reserve fund put in place. Bitcoin investment is a personal journey,every investors with different capabilities which is why your emergency fund and reserve funds should be put in place. If others have refuses to build theirs because they have rich daddy and uncles doesn't mean you shouldn't build yours as well.

This is not a good mindset to have, everyone should have emergency funds, even the rich you claim don't need it are more inclined to set up backup funds more than you actually know, after all chances are that they have more discretionary income to spare so when they decide to save you might not think it's their emergency fund but it's not like they are going to tell you what they are saving for.
I believe it's premature to say that simply because they have family and friends to call on then they don't need to set up their emergency funds, i would even argue that if a survey was carried out right now to know who's more conscious about having their emergency funds ready then this same rich and wealthy would definitely top the list.

[Grease5000]

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.

Even the said rich and wealthy have backups as well, you can't rely on others for everytime something goes wrong in your life and one way to protect yourself is to have your emergency fund in place so even if you think you have people you can call onto when things go bad try to understand that they are called emergencies for a reason, the emergency in your situation might that those you expect to bail you out won't be able to at that time so you have to bail yourself out and how do you do that when you don't have your emergency fund in place, this is why people should never joke with their emergency fund, even non bitcoin investors have it in place which is even more reason for a bitcoin investor to make sure to also set up their emergency fund while also buying bitcoin, you can never be too careful.

I don't fully agree with that. Because I don't think it's only rich people who can start investing without a fully built emergency  fund.

Anyone who has some discretionary income available can start buying Bitcoin little by little through DCA while gradually  also building an emergency fund. The important thing is being  able to figure one emergency,funds, staying consistent and making sure the money used for buying Bitcoin is money that won't affect daily living or make one to sale off their bitcoin stash when unexpected expenses come up.

[Obulis]

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.

As a matter of option, it is without excuse that some investors puts themselves into shambles that will by many means or reasons requires them to touch their Bitcoin holding, this I am trying to point at is an obvious controllable events that lifestyle or whatever reason it may be now leads to the point of thinking of tempering Bitcoin holding. Take for instance, buying a more beautiful house for the pleasure only to start facing some financial bottlenecks that warrants the touching of Bitcoin holding. This instance can be to many extent if not all extent well calculated that it won't cause any thinking of touching Bitcoin holding talk more of selling Bitcoin holding, so the instance has no excuse because it is controllable an investor should not put themselves into such place.

[The Founding Titan]

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.

Even the said rich and wealthy have backups as well, you can't rely on others for everytime something goes wrong in your life and one way to protect yourself is to have your emergency fund in place so even if you think you have people you can call onto when things go bad try to understand that they are called emergencies for a reason, the emergency in your situation might that those you expect to bail you out won't be able to at that time so you have to bail yourself out and how do you do that when you don't have your emergency fund in place, this is why people should never joke with their emergency fund, even non bitcoin investors have it in place which is even more reason for a bitcoin investor to make sure to also set up their emergency fund while also buying bitcoin, you can never be too careful.

I don't fully agree with that. Because I don't think it's only rich people who can start investing without a fully built emergency fund.

Anyone who has some discretionary income available can start buying Bitcoin little by little through DCA while gradually  also building an emergency fund. The important thing is being  able to figure one emergency,funds, staying consistent and making sure the money used for buying Bitcoin is money that won't affect daily living or make one to sale off their bitcoin stash when unexpected expenses come up.

I don't think I ever said only the rich can start investing without s fully built emergency fund or anything even like that, my argument was that the rich also need the emergency fund, just because they are rich doesn't automatically cancel out the need to set up their emergency fund.

[johnsaributua]

I don't think I ever said only the rich can start investing without s fully built emergency fund or anything even like that, my argument was that the rich also need the emergency fund, just because they are rich doesn't automatically cancel out the need to set up their emergency fund.

That's true, but perhaps they weren't very thorough with what you said, leading them to say things that might lead you to misunderstand your argument, even though your goal and intent are exactly what they said. I think it's better to understand what's being said when presenting ideas to avoid any misunderstandings regarding what we're discussing in this topic. I don't think that's a significant issue.

In investing, I also share the same goal as you, that an emergency fund encompasses all elements related to investing before investing. This is to safeguard against future problems. When investing, we never know what problems might arise. Sometimes, situations can arise that don't meet our expectations. Having an emergency fund, whether rich or poor, makes it easier to resolve issues that arise while investing in Bitcoin. Therefore, this fund is very necessary for those who invest, for other reasons, to protect the amount we already have when the situation is unfavorable, especially in the event of market conditions that are sometimes unfavorable for us as those who consistently invest in Bitcoin.

[Moreno233]

It is true  that passion can motivate someone to start, but passion alone is not enough. Because investors,  still need good money management.

If an investor creates funds to buy Bitcoin by sacrificing money meant for essential needs there are high chances of him selling off his bitcoin portfolio if he encounters any emergency situations. For me  I buy only when I have discretionary income because that allows me to stay consistent with DCA without putting myself under pressure. Because passion may get someone started but discipline and using the right money are what keep him accumulating Bitcoin for the long term.

If you have good money but do not have the passion, you cannot invest in Bitcoin, instead you will chose other things which you have passion for and funnel the money there. This is where common sense comes into play because with common sense, a person will know what to direct his passion to, of which Bitcoin should be as a top priority after basic needs have been met. Some people have money but are not using the money to build wealth for the future, instead they are wasting the money in things that does not matter, this again is the intersection of passion and common sense.

It also require passion to be consistent with the DCA strategy because without passion, the investor might get tired or bored along the aways and abandon the process. You know what damage this can do to the investment in general, hence the need to marry common sense with passion.

[Merit.s]

my argument was that the rich also need the emergency fund, just because they are rich doesn't automatically cancel out the need to set up their emergency fund.

Someone is called rich because he has wealth and wealth comes from investing which means that a rich man already has some assets and investment on ground that generates more income for him overtime. Therefore, if such person wants to start his bitcoin investment, he might choose to neglect building an emergency funds because he already have some investment or businesses on ground that can serve as his backup funds. In the sense that, if along the line he's investing in bitcoin and face an unexpected emergency, he has where to tap funds from to solve the problem without tampering his bitcoin investment.

This is why a low income earner has a low discretionary income and does not have any funds or investment/business on ground that he can use to take care of a real life emergency needs to start building up an emergency funds when he has started his bitcoin investment to be available anytime he's hit with real life emergency so that, he can use it to solve the problem instead of selling his bitcoin.

[The Founding Titan]

my argument was that the rich also need the emergency fund, just because they are rich doesn't automatically cancel out the need to set up their emergency fund.

Someone is called rich because he has wealth and wealth comes from investing which means that a rich man already has some assets and investment on ground that generates more income for him overtime. Therefore, if such person wants to start his bitcoin investment, he might choose to neglect building an emergency funds because he already have some investment or businesses on ground that can serve as his backup funds. In the sense that, if along the line he's investing in bitcoin and face an unexpected emergency, he has where to tap funds from to solve the problem without tampering his bitcoin investment.

This is why a low income earner has a low discretionary income and does not have any funds or investment/business on ground that he can use to take care of a real life emergency needs to start building up an emergency funds when he has started his bitcoin investment to be available anytime he's hit with real life emergency so that, he can use it to solve the problem instead of selling his bitcoin.

Then that person already has their backup fund in place, it's not that they don't have any reason to set up their emergency fund but instead that they already have it so there is no need to start setting a new emergency fund simply they are starting out on their bitcoin investment, what most people misunderstand is they need to set up their emergency only because they are accumulating bitcoin so basically for these people with having any bitcoin investment they don't need the emergency fund which is a very wrong and maybe even dumb conclusion to make, whether you are investing in bitcoin or not there is still value in setting up your emergency fund.

I don't think I ever said only the rich can start investing without s fully built emergency fund or anything even like that, my argument was that the rich also need the emergency fund, just because they are rich doesn't automatically cancel out the need to set up their emergency fund.

That's true, but perhaps they weren't very thorough with what you said, leading them to say things that might lead you to misunderstand your argument, even though your goal and intent are exactly what they said. I think it's better to understand what's being said when presenting ideas to avoid any misunderstandings regarding what we're discussing in this topic. I don't think that's a significant issue.

In investing, I also share the same goal as you, that an emergency fund encompasses all elements related to investing before investing. This is to safeguard against future problems. When investing, we never know what problems might arise. Sometimes, situations can arise that don't meet our expectations. Having an emergency fund, whether rich or poor, makes it easier to resolve issues that arise while investing in Bitcoin. Therefore, this fund is very necessary for those who invest, for other reasons, to protect the amount we already have when the situation is unfavorable, especially in the event of market conditions that are sometimes unfavorable for us as those who consistently invest in Bitcoin.

If a person is yet to set up their emergency fund before they decide to start investing then it is not smart for them to delay their investment first because they want to build their emergency fund, instead of delaying their investment they should instead buy bitcoin while building up their emergency fund at the same time, we should make effort to get our priorities right.

[Bluedrem]

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.

Thanks JJG. In the past, I have found the right way to invest from all your advice. Since I am still a student and I am still dependent on my family. But I am trying to be self-sufficient and earn some money as a student. Initially, I used to keep a small part of my income as a cash expense and invest it all, which I may have mentioned earlier.
But now I have divided my discretionary income into several parts, one is an emergency fund and another investment fund is being formed which is invested in a place where I can get cash from which if it is prosperous, I can use the money from there to buy Bitcoin DCA in the future. And another small fund which I can use to buy DIP.
Honestly, I want to be self-sufficient from now on so that I can provide sufficient financial support to my children later. So that they can gain knowledge without any problems.

[cxtreenal]

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.

Most especially for security reason, for someone to have multiple backup options is an important for investors investing in bitcoin, while reserves funds and also emergency funds should only be the first line of defense, the goal should be to create a strong financial foundation where selling of bitcoin should become last resort. To building more assets over time that gives us more financial flexibility, however the more financial cushions we build the more options we have during difficult times, lower the risk of becoming a forced seller and help investors to stay committed to long bitcoin accumulation strategy.

Having an emergency fund is important for a long term holding strategy, as is keeping your cash flow in check. There may be additional requirements from the family or there may be small emergencies. Adopt a policy of meeting those needs through the reserve funds/cash flow you have. Instead of using the word security, you should rather say sustain Bitcoin holdings. You can create your personal financial safety net to keep your Bitcoin holdings safe, but be careful not to overdo it because the value of your cash fund keeps decreasing due to inflation.  Determine your investment strategy by maintaining a balance between Bitcoin holdings and cash flow because you need to build up your Bitcoin holdings for the future as well as ensure that you are financially strong in the present.

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Even the said rich and wealthy have backups as well, you can't rely on others for everytime something goes wrong in your life and one way to protect yourself is to have your emergency fund in place so even if you think you have people you can call onto when things go bad try to understand that they are called emergencies for a reason, the emergency in your situation might that those you expect to bail you out won't be able to at that time so you have to bail yourself out and how do you do that when you don't have your emergency fund in place, this is why people should never joke with their emergency fund, even non bitcoin investors have it in place which is even more reason for a bitcoin investor to make sure to also set up their emergency fund while also buying bitcoin, you can never be too careful.

I think the rich folk may not necessarily need an emergency fund and reserve fund put in place because they have rich daddy,mummy, friends and rich godfathers that they can rely on in case of emergencies. When face in a real life emergency situation they know they can call on their rich pals for supports but this isn't applicable to everyone because we are not the same, not everyone have rich pals who would back them up in an emergency situation which is why we should have our emergency fund and reserve fund put in place. Bitcoin investment is a personal journey,every investors with different capabilities which is why your emergency fund and reserve funds should be put in place. If others have refuses to build theirs because they have rich daddy and uncles doesn't mean you shouldn't build yours as well.

This is not a good mindset to have, everyone should have emergency funds, even the rich you claim don't need it are more inclined to set up backup funds more than you actually know, after all chances are that they have more discretionary income to spare so when they decide to save you might not think it's their emergency fund but it's not like they are going to tell you what they are saving for.
I believe it's premature to say that simply because they have family and friends to call on then they don't need to set up their emergency funds, i would even argue that if a survey was carried out right now to know who's more conscious about having their emergency funds ready then this same rich and wealthy would definitely top the list.

Just because someone has decided to start investing in Bitcoin, there is no reason to build an emergency fund unless there is an imminent emergency. As long as they have discretionary funds on hand, they should start investing in Bitcoin from there, no matter what their situation is. Ensuring a buffer fund means ensuring that any investment in Bitcoin does not exceed the discretionary fund limit. The purpose of the buffer fund is to protect Bitcoin from fluctuations in income and expenses. If they are not sure whether they have discretionary funds available, they are likely not to invest in Bitcoin because they will not be confident that they will be able to hold onto their Bitcoin for 4-10 years or more. Many people cannot be sure that their income will continue, and ordinary people are able to invest in Bitcoin based on the confidence that their income will continue and if the income stops, they will be able to find a way to make up for the shortfall from new sources.

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It is true  that passion can motivate someone to start, but passion alone is not enough. Because investors,  still need good money management.

Honestly money management is very important when it comes to invest, because for someone to have passion and don’t have capital to start up the investments I don’t think the motivation can lead to start the investment. But of there’s enough money and the passion to motivate we can see that the investment can moving well, as he/she plans which is why the management is very important.

If an investor creates funds to buy Bitcoin by sacrificing money meant for essential needs there are high chances of him selling off his bitcoin portfolio if he encounters any emergency situations. For me  I buy only when I have discretionary income because that allows me to stay consistent with DCA without putting myself under pressure. Because passion may get someone started but discipline and using the right money are what keep him accumulating Bitcoin for the long term.

If a person have the discretionary income it allows the person to become successful on his investments because this discretionary income will make him to be consistent in his investment without bothering about what will come up after investment. The lack of discretionary income is what lead some of investors sell their Bitcoin at lose, due to they cannot hold it for a long period of time.