JJG’s Outline of Bitcoin Investment Ideas

[The Founding Titan]

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.

If you don't already have your emergency fund then the fact that you want to start buying bitcoin should be what pushes you to also consider saving your emergency fund too, since you have the discretionary income to buy bitcoin with then what's wrong with also using a part of that discretionary income to set up your emergency fund as well, just because there is no imminent emergency right now doesn't mean there won't be one the next moment, they are called emergencies for a reason, if we were expecting them then it wouldn't be right to call them emergencies anymore so we don't set up our emergency fund for imminent emergency that are already here, we set it up for emergency situations that might come up later on.

[SmartCharpa]

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.

Having money to invest does not mean you need to have huge amount of money before you can invest. Even though you want to invest like other people, everyone has to invest due to their financial condition, you don’t need to invest more than what you can afford only because you want to become like other people. Investing with the money we can need anytime soon will lead to too much stress, and the person might be forced to sell regardless of the market.

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.

However, having a discretionary income save you from any unnecessary decision, you only invest inside the money you set aside after solving other expenses, that’s why it’s very important to have discretionary income. Bitcoin is all about consistent, disciplined and patience, so without the discretionary income, all this will be impossible for anyone who is willing to invest.

[johnsaributua]

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.

On the one hand, your point is correct, but I think it's quite difficult for them to simultaneously build up these funds, perhaps because their current minimal income makes it difficult for them to implement the method you've outlined.

The goal is good, as it doesn't delay investment, as both can work together. However, there are several options for doing the same thing without stopping the investment we're currently making. With debit, having additional funds can serve as motivation to increase our emergency fund, the purpose of which is simply to help someone whose investment sometimes doesn't turn out as they predicted.

[Itz-prisigold]

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.

I don't think someone having rich parents, wealthy friends, or influential relatives means they don't need an emergency fund. Anyone with this kind of mindset is making it sound as though planning for emergency depends on having rich people to rescue you, when the main purpose of keeping an emergency fund is to help you to be less dependent on others, and having someone to 'rescue' you showcases a lack of emergency planning.

Even people who are financially successful keep a reserve because of possible unexpected expenses or changes in cashflow can happen to any one. Truly how much you keep in your emergency funds depend entirely on your financial situation, but the decision to maintain an emergency fund should be based on a person's financial circumstances, cashflow and the risk and not on thinking someone else will be there to help.

[Baki202]

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.

Whatever the investment might be about, it is always good when you have your emergency funds ready, because, from the meaning of the word "emergency," you will need to have them for whatever one pops up. It should be that it is something that we are ready for, and you won't know the advantages of having emergency funds because that way you won't have to sell anything before you attend to your need.

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.

Even when you have families and friends to call upon, I don't think it is necessary for it to continue that way. Sometimes you should have your own plans when it comes to finance because it is not just investing alone, but being able to attend to needs, and that is just another perfect way that things can go. is to make preparations even before investing, make sure the emergency plan is included.

[ASloveapg]

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.

Even if a person is rich, the importance of an emergency fund never ends, whether a person is rich or middle-class, being financially prepared for unexpected situations is always important for everyone. And everyone should create it separately. No matter what the financial position, uncertainty is there for everyone in life. Sudden medical expenses, business losses, job loss, major needs, these never come with advance notice, and if we are not prepared for them in advance, even if you are rich, you may have to face many difficult situations, so financial security is necessary for everyone, whether you are rich or poor, an emergency fund should never be neglected and ignored.

[Gost ms]

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.

I don't agree with the explanation you gave. Because when a person faces an emergency or goes from rich to poor, no one is available, be it a friend or anyone else, so it is not a right decision to say that. It is never a right decision to depend on someone else. If you don't have many sources of income, then it will never be a right decision to make such a decision.

But yes, there are some rich or high-class people who have many sources of income and they earn from one instead of the other, so they don't create an emergency fund for Bitcoin or anything else. But a middle-class person and a poor person are completely different.

[Mehmet69]

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.

For many, it may not be reasonable to adopt any strategy other than DCA. While someone new to Bitcoin may think they have a lot of discretionary funds, being completely new to Bitcoin may not be in a position to make a large one-time investment or buy on a dip because they need to get comfortable with Bitcoin before pouring large sums of money into it. Some people are experienced in both their cash flow management and investing, so they may be able to invest large sums in Bitcoin from the start.
When the situation warrants considering something other than DCA, it is best to consider all three strategies, including DCA, lump sum investment, and buy on a dip. The vast majority of people can benefit from focusing their discretionary income on the DCA strategy. They will have a choice about how aggressive or passive they are willing to be in investing in Bitcoin. Their initial move into Bitcoin will depend in part on their cash flow management practices.

[Silikiem]

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.

Since you already have such discretionary income, why don’t you just go ahead and start buying bitcoin with some percentage of that discretionary income no matter how small it is instead of trying to put it in another investment funds where you kept it in a place where you can get cash from only if it’s prosperous whereas you earlier had opportunity to allocate just a small percentage of it to buy bitcoin and hold no matter how small the amount is, and you can still keep some for the investment fund because you don’t really need a huge amount to start investing in bitcoin. Secondly, why keep those funds aside just to buy the dip meanwhile you’re yet to even start buying bitcoin on a regular basis but you’re already keeping funds aside just to buy dip that you’re not sure of when it will happen.

There’s a trade off in holding back funds for sole aim of buying dips whereas you could easily just buy bitcoin with it at any market price and hold to gradually reach your accumulation target. How regularly have you been buying bitcoin and how decent is your portfolio Before choosing to hold back funds for dip buying because the dip may or may not happen and even if it does, what’s the guarantee it will come to your desired dip price, that means you’re not sure. So it’s better to focus more on regular buying to gradually build up portfolio and reach accumulation or investment target before holding back funds for dip buying.

[ChocolateBitcoinK]

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.

The emergency fund and the reserve fund backup funds are created from discretionary income. From the discretionary fund, we have the opportunity to increase our emergency fund, the reserve fund. If the discretionary fund is not enough to cover our expenses, we can use the emergency fund or any backup funds in the reserve fund. The idea of using the reserve fund is easier to implement than using the emergency fund. We may set more restrictions on when it is acceptable to use the emergency fund. We should never need to use the emergency fund unless we are in a situation where all funds are exhausted and there is no other way. If the emergency is very serious and prolonged, we may have no choice but to massively deplete our various funds on a priority basis, trying to use the most valuable asset last.

[Sammysmart001]

Since you already have such discretionary income, why don’t you just go ahead and start buying bitcoin with some percentage of that discretionary income no matter how small it is instead of trying to put it in another investment funds where you kept it in a place where you can get cash from only if it’s prosperous whereas you earlier had opportunity to allocate just a small percentage of it to buy bitcoin and hold no matter how small the amount is, and you can still keep some for the investment fund because you don’t really need a huge amount to start investing in bitcoin. Secondly, why keep those funds aside just to buy the dip meanwhile you’re yet to even start buying bitcoin on a regular basis but you’re already keeping funds aside just to buy dip that you’re not sure of when it will happen.

There’s a trade off in holding back funds for sole aim of buying dips whereas you could easily just buy bitcoin with it at any market price and hold to gradually reach your accumulation target. How regularly have you been buying bitcoin and how decent is your portfolio Before choosing to hold back funds for dip buying because the dip may or may not happen and even if it does, what’s the guarantee it will come to your desired dip price, that means you’re not sure. So it’s better to focus more on regular buying to gradually build up portfolio and reach accumulation or investment target before holding back funds for dip buying.

I agree with you, one having to wait for a perfect dip it another room for procrastination mostly for a beginner. We all don’t really know when the next correction is going to happen, so this very time you are using to wait for a perfect dip with your cash you will end up miss this plan of consistency of accumulating.

No One should get me wrong am not saying keeping a reserve funds is wrong, but this should be put into consideration only when you have built up a strong habit of a consistent DCA. A good planing, consistency should be the main focus, while you have dip as an extra plan B if the time come you make use of the opportunity. Instead of trying to wait for that perfect time u are still cooking up Somthing you won’t have to reduce the amount of BTC accumulated for the long term

[Charcol]

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.

You are treating emergencies as if they are not needed until they happen. The problem with emergencies is that you never know when they will happen. So if you go to build a fund after job loss, loss of income, medical expenses, family stress, etc., then you will not have that opportunity. And if you are not prepared before the emergency, then why have an emergency fund?
If someone wants to start investing and has discretionary income, they can start at the same time and think about building an emergency fund. Waiting for an emergency to happen means that it may be too late.

The point is that waiting for an emergency fund is not a good idea, and focusing on an emergency fund after an emergency has happened is probably not a good idea. Since both can be continued together, considering your financial situation, it may be a good idea to do so.

[alankasman]

Snip.

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.

There is no need to do that because even though we have several sources of income we must be able to manage our finances with the aim that there will be a phase where we will have unexpected things happen so with the finances that we set aside of course it becomes a tool that makes us free from things that we don't want so it is not necessary to use all the results we get to buy Bitcoin so it is also necessary to maintain for example if we have three sources of income so what we need to do for investment is only one source and two other sources we need to maintain against things that might be like I said earlier especially in investing there is no provision for how much it must be in other words it is easy and there is no need to rush so this can bring us to reach the point we want as long as we are in investing in Bitcoin.

[Grease5000]

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.

Every investor is suppose to have an emergency fund,  I don't think it should depend on whether someone is rich or has wealthy family and friends.

Because even a rich person can benefit from having an emergency fund. Proper  financial planning is  for everyone. The main goal is to protect your Bitcoin from being sold because of unexpected expenses. For me whether a person is rich or not investing with discretionary income and gradually building an emergency fund along side it is a good long term approach.

[Grease5000]

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.

I think building an emergency fund should never be ignored no matter  how  financially stable someone is. Because unexpected expenses don't usually come with a warning, and without some backup, an investor may end up selling his Bitcoin at the wrong time to solve a short term problem. For me  the best approach is to start DCA with discretionary income while gradually building an emergency fund  with some percentage of my discretionary income alongside it. That way  both my  investment and personal finances stay protected.

[The Founding Titan]

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.

I think building an emergency fund should never be ignored no matter  how  financially stable someone is. Because unexpected expenses don't usually come with a warning, and without some backup, an investor may end up selling his Bitcoin at the wrong time to solve a short term problem. For me  the best approach is to start DCA with discretionary income while gradually building an emergency fund  with some percentage of my discretionary income alongside it. That way  both my  investment and personal finances stay protected.

Financial stability is also another reason to motivate people to have the backup funds ready, why risk losing that stability when you can cushion it with having backup funds in place and cushion your bitcoin investment too, those who say having multiple sources of income means that they no longer need to set up their backup funds are seriously mistaken and it's sad because them getting hit by an emergency situation will be what brings them back to their senses but st that point they may have already lost their bitcoin assets, something they could very well have avoided.

[Yablee0]

You are treating emergencies as if they are not needed until they happen. The problem with emergencies is that you never know when they will happen. So if you go to build a fund after job loss, loss of income, medical expenses, family stress, etc., then you will not have that opportunity. And if you are not prepared before the emergency, then why have an emergency fund?
If someone wants to start investing and has discretionary income, they can start at the same time and think about building an emergency fund. Waiting for an emergency to happen means that it may be too late.

The point is that waiting for an emergency fund is not a good idea, and focusing on an emergency fund after an emergency has happened is probably not a good idea. Since both can be continued together, considering your financial situation, it may be a good idea to do so.

That's true, setting up an emergency funds in our investment shouldn't be looked down in anyway,  because you will only realize you are making the worst mistakes of your life when emergency situation comes and you have no funds to settle it. Perhaps, at that point you will be forced to settle the problem from your investment holdings and I can bet you that it's not saved to your investment journey. You know one thing that is certain, real life challenges, it never announce before coming therefore making necessary arrangements ahead of time is more in our advantage and also makes us in charge of our investment and never to think of  tempering with our investment holdings even in emergency situations.

[abaeze]

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.

No one is forcing you to create an emergency fund. It is not mandatory to have an emergency fund before or at the beginning of investing in Bitcoin. An emergency fund is needed because of the uncertainties of life, not because of Bitcoin. Just as there is no way to predict when danger will come in life. Likewise, no one knows in advance when an emergency fund will be needed.

Therefore, it is wise to gradually build this fund along with investing in Bitcoin and this is a successful and tested method of investment.
If you do not set aside an emergency fund in advance, then at the time of danger you can use any funds and money to protect yourself or your invested assets from danger, and that is why this emergency fund is needed.

[GeorgeJohn]

<...>

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.

Most of the response here is contradictory each other..you should ask yourself what's emergency funds, also differentiate emergency funds from discretionary income? If you make a research to found out the dictionary meaning of both and compare them, you will know exactly what our point of discussion is all about...an investor have a target and a good investor invest what it can afford to lose..and also targets the appropriate time to invest to yield a positive return...

[SatoPrincess]

<...>

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.

Most of the response here is contradictory each other..you should ask yourself what's emergency funds, also differentiate emergency funds from discretionary income? If you make a research to found out the dictionary meaning of both and compare them, you will know exactly what our point of discussion is all about...an investor have a target and a good investor invest what it can afford to lose..and also targets the appropriate time to invest to yield a positive return...

Reading your first post, I think there was a typo there and you meant to say you did not wait for emergency funds because you had passion for bitcoin.

In my opinion, the argument of discretionary or emergency funds could be easily solved by adopting DCA as a strategy. I recommend consistently putting away small amounts biweekly to buy bitcoins, this takes away the pressure of a lump sum buy, you don’t have to break the bank but you’re slowly accumulating bitcoin at different market prices.