JJG’s Outline of Bitcoin Investment Ideas

[JayJuanGee]

I largely agree with your statement to an extent, having different streams of income is good, but again as a new investor who’s just getting started with bitcoin investment, you must not wait until your have different streams of income before you can start investing in bitcoin ad all you need is to figure out a discretionary income to start your bitcoin investment. And even if you wish to diversify at some point in your investment, it is important to have focused on accumulating bitcoin with your discretionary income and reach your investment target, and build a healthy portfolio before thinking of diversifying into investments of having multiple streams of income so that you won’t have divided attention with your bitcoin investment because the moment one start having a divided attention they are liable to fumble with their investment goal or target. After reaching your accumulation target or perhaps over accumulation then you can easily diversify into other investments and not when you’re still in accumulation stage.

I cannot proclaim to know, with any precision, at what point guys might start to diversify into assets other than bitcoin and cash, yet it seems to me that if guys had put one year or more of the size of their income (or their expenses) into bitcoin, then presumptively they are simultaneously growing their back up funds too.. and so the growth of both of these (especially the back up funds) would justify putting and/or keeping back up funds into other assets, besides cash.

Overaccumulation stage (such as fuck you status) may well be 10 years of expenses (valued at the 200-WMA) or more, and so it seems unlikely that a guy would need to accumulate up to the heights of that level before it might start to make sense to diversify out of something other than bitcoin and cash.

Some investors think the other way around. When they have $300 or $500, they immediately think about diversifying into other assets. Basically, the main foundation is not ready yet.

If a person has a lot of wealth already at the time of coming to bitcoin or maybe if they have a lot of income, then they might consider a diversification approach.  Yet, most people are not starting out their entry into bitcoin in that kind of way.

We should be trying to imagine the more likely cases, even though there are always going to be individuals who have individual circumstances that might justify that they tailor their approach to their circumstances.

Always make Bitcoin your primary growth asset by continuously DCAing as much as possible on a regular basis. Those who want to preserve their wealth and enjoy a better life in the future should focus their goal on accumulating as much Bitcoin as possible starting now because Bitcoin is a growth engine.

You are mixing up in the way that you talk about growth of value versus preservation of value.

Of course, there is a need to grow value prior to preserving it.  Concentration tends to grow value and diversification tends to preserve value.  Surely there are folks who are new who wrongly presume diversification to be a way to grow, so what they are doing is a form of gambling to throw value at a bunch of different assets in order to hope that one or more of them grows a lot in value, and yeah, that is gambling and trading and even shitcoining, which is not the topic of this thread, especially since it is not even a good approach in trying to build/grow wealth.

The mere fact that a lot of people think wrongly about the topic of diversification, wealth creation and/or investing does not mean that we should be giving much if any emphasis to those kinds of wrong thinking - since we are more likely to detract from the thread topic rather than build upon the thread topic.

Many newbies come into bitcoin and they do not have a lot of wealth built up, so they are largely trying to build their wealth from their income as it comes in, so in that regard if they are able to consistently earn more than they spend, then they are generating discretionary income that would allow them to buy bitcoin on a weekly basis, and there likely would be little to no need to diversify, especially in the first few years that they are building their bitcoin investment and also they are building and/or strengthening their back up funds to the extent that their back up funds might have had been deficient.

It would hardly make any sense to diversify beyond bitcoin and cash, even though surely there are guys who don't know what to invest in, and we even have had a lot of distracting talks in this thread and other somewhat DCA oriented threads where a lot of guys seem to be distracted by the idea of home/property ownership, and surely if they are working a job and wanting to save up for a house, then they might not recognize the value in buying bitcoin, and there even might be guys who already own property and they are trying to figure out the role of bitcoin in terms of what they are already doing.  

It might not be easy for some guys to figure out the value of building wealth through bitcoin, even though there can be valid competing interests, especially if guys might have difficulties in building their skills and their income, so if they do not already have decently paying work, then they might need to figure out ways to build their income, which frequently might cause them difficulties in buying bitcoin if they might be attending university (or some tech school) or maybe they are investing in a business so that they can make more from their labor as compared with if they had been working for someone else and making lower wages.  Building and maintaining a decent income surely tends to be helpful and also if we cannot get our income up high enough so that we have discretionary funds, then we cannot invest in bitcoin.

They need to tighten the engine first (Bitcoin) to avoid any problems on the way, after that they can focus on the brakes (cash) and the spare tire (other assets). Most investors make the mistake of diversifying from scratch, but the results are not significant. They should have collected as much Bitcoin as possible, then been patient and waited to reap the rewards.

If our investment timeline is 4-10 years or longer, then we may well not be too focused on reaping the rewards in those earlier building stages, and I would think that anyone who has an investment timeline that is less than 10 years may well be doing it based on age/health considerations that do not really allow them to commit to an investment timeline that is 10 years or longer. I am not sure if your car analogy is very great, including your suggestion that the building of cash comes after the building of bitcoin.  

First of all we do need to make sure that we are investing from discretionary funds, so if we are brand new starting out and if we might not already have back up funds, then we are likely going to need to build up our back up funds at the same time that we are building up our bitcoin holdings, at least until the back up funds get to a certain comfortable enough level that might allow us to focus more on building the bitcoin portion rather than the back up funds portion, yet it seems healthy to continue to build up both, even though I am not even proclaiming that they have to be built up at the same rate, since individuals can choose how much priority that they want to give to building up their bitcoin holdings as compared with how much back up funds that they believe that they might need to have on hand for any fluctuations that they might anticipate to be happening in their income going down and/or their expenses going up.

Individual circumstances likely will help to inform the extent that other investments besides bitcoin and cash might start to make sense, and there surely can be variations in individual circumstances that could trigger some interest in certain kinds of ways of attempting to diversify to the extent that it is even necessary is likely to not be without controversy, even though individuals are free to make those kinds of choices, whether they might be wanting to put some value in property, stocks, bonds, commodities, other bitcoin, cash equivalents and/or anything else.  I am not tending to refer to shitcoins, even though there may well be guys who might consider shitcoins as a place to put value, and those kinds of discussions go beyond the scope of the focus of this thread, since my own standard line is to not get distracted into shitcoins, trading and/or gambling except maybe 10% the size of the bitcoin holdings (without cheating).

[Primark]

...

You don't need to think about short term when investing into bitcoin because bitcoin is volatile in nature and can put you into losses due to short-term price fluctuations. This is why you need to have a long-term mindset and focus on building your bitcoin stash overtime with your regular DCA weekly purchases from your discretionary income till you reach your bitcoin target..

You don't need any knowledge to invest in bitcoin apart from your discretionary income and learn whatever topic you need to know as you have started your bitcoin investment. The most important thing is for you to figure out if you have discretionary income or not to get started. Bitcoin investment is different from our traditional investment that you need a proper knowledge to get started.

If we have a stable income I think it's better to invest long-term. This means we always have an income without any delays whether weekly or monthly. However, once we have an income we still need to meet our needs. After meeting our needs I think there must be discretionary funds. With these funds I think it's better to consider long-term investments. Since we have an income it's natural for us to invest long-term. A stable income allows us to regularly accumulate funds for long-term investments.

Having a fixed income can probably give us some advantages. But a fixed income is not a mandatory condition to start investing in Bitcoin. Again, it is not that only those who have a fixed income plan long-term investment. Rather, everyone should focus on long-term investment. Even if a small business owner or an independent worker's income is not the same every month, if he can really set aside discretionary income after meeting his essential expenses, then why can't he start?

Again, in many cases, it is seen that someone may have a fixed salary every month, but if their rent, food, loans and family responsibilities are so high that all the money ends there, then just because he has a fixed income, discretionary income does not create it. Therefore, whether the income is permanent or not is more important than whether the income is permanent or not.

[Nwaswago]

Hello mates, this thread is sort of a new one to me,I mean I am welcomed and could get a summary of what we have been and previously discussed

Okay at your service.
1. Accumulate bitcoin and hold for a very long period of time let say 5 to 10 years and above.
2. Use only your discretionary income to accumulate bitcoin.
3. You need to have backup funds such as emergency, reserve and float funds, having this funds will help you prevent dipping hands into your bitcoin when emergency comes up, backup funds is your safe net.
4. Don’t wait to have all the knowledge about bitcoin before investing, just have the basic knowledge and then start.
5. Don’t trade bitcoin because it’s very risky.
6. We don’t discuss alt coins here it is all about bitcoin.

This and many more are all what we are discussing here, do well to do some reading too.

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

[Agbam]

Hello mates, this thread is sort of a new one to me,I mean I am welcomed and could get a summary of what we have been and previously discussed

What are you expecting to learn from the summary or who do you want to do that for you. You’re quite responsible for your decisions, if you’ve found yourself in a new environment you owe it yourself to observe and study your surroundings.

Are you the kind that’s always looking for the easy way out, the shortcuts and all that, those kind of mindsets wouldn’t get you far in life. There’s a good chance that if you even attempted to read the first page you wouldn’t be asking such questions. Or your question would have been more constructive and specific rather than looking for an overall summary… so vague.

[Silikiem]

...

You don't need to think about short term when investing into bitcoin because bitcoin is volatile in nature and can put you into losses due to short-term price fluctuations. This is why you need to have a long-term mindset and focus on building your bitcoin stash overtime with your regular DCA weekly purchases from your discretionary income till you reach your bitcoin target..

You don't need any knowledge to invest in bitcoin apart from your discretionary income and learn whatever topic you need to know as you have started your bitcoin investment. The most important thing is for you to figure out if you have discretionary income or not to get started. Bitcoin investment is different from our traditional investment that you need a proper knowledge to get started.

If we have a stable income I think it's better to invest long-term. This means we always have an income without any delays whether weekly or monthly. However, once we have an income we still need to meet our needs. After meeting our needs I think there must be discretionary funds. With these funds I think it's better to consider long-term investments. Since we have an income it's natural for us to invest long-term. A stable income allows us to regularly accumulate funds for long-term investments.

That's true, because investment knowledge is only for those who can do it correctly. Without knowledge I think it's difficult to invest properly even with a large income. This can lead to a lack of direction in investing and ultimately our path can lead to problems. Therefore knowledge of how to invest is the most important thing for anyone starting out in Bitcoin.

We must not have a stable income before we can chose to invest in bitcoin long term. As a matter of fact, bitcoin investment is best when it’s being done for a long term goal. So weather stable income or not, we must endeavor at all times to have the long term mindset of bitcoin investment. Yea, having a stable income is good but that’s not a benchmark for bitcoin long term investment as what is needed is just a discretionary income and not really a stable income because I’ve seen investors with a stable income still finding it difficult to invest in bitcoin long term and most of them finds it difficult to figure out a discretionary income to use for their bitcoin investments because of lack of good financial management skills and some of them may have this stable income which at the end of the day they can’t still successfully take care of their basic needs thereby leaving them with no discretionary income at the end of the day for bitcoin investment.

In nutshell, even if our income is not stable, it’s always better to invest in bitcoin for long term, we can still invest in bitcoin for long term even in the face of an unstable income as what is needed from us is to figure out a discretionary income from time to time to use and buy bitcoin and hold, also keeping some percentage of our discretionary income for building our emergency funds and other back up funds going forward.

[Obulis]

For every investment knowledge is needed to be able to make proper decisions that will guide your investment journey and i think that's what this thread is about and the purpose of the author of this topic.

A person wishing to invest in bitcoin should understand that the market is highly volatile. Hence, decisions like long term or short term investment plan should be considered. Also, the money that should be invested should be what you can forgo. That way you can invest without stress and pressure.

Personally I don't expect a newbie to be totally blank even though I know that what is required of everyone to invest in Bitcoin is their discreationary income, I still think a newbie should not be a dummy even though that part is not discussed here

We do discuss not being a dummy.   If a person has common sense, then he is presumptively not a dummy, even though common sense does not tell us exactly what we should know and not know, and we have to figure that part out using our common sense.. which is a way of suggesting that we use our judgement.

We do suggest that guys need to know how to make sure that they have discretionary funds and that they are using discretionary funds to buy bitcoin, yet there isn't really any other specific knowledge that a beginner has to know in order to get started buying bitcoin, except maybe figuring out from where he is going to buy the bitcoin.   His common sense should help to guide him in regards to how much he is going to start with.

Very important "common sense". From the evaluation of common sense here that means common sense can do and has been doing the wonders many would be newbies and newbies worry themselves about by imagining the level of knowledge to be acquired when they are already loaded with so much that they can start with. Decision on how much to start with is not something that will cause sleeplessness and where to buy Bitcoin from is also easily decided by even other peoples analysis from which a newbie can decide where to buy all of which are produced out of common sense.
As for having discretionary funds, doing expenses or need analysis will help set aside the funds that are discretionary and doing this is still out of common sense.

[The Founding Titan]

Hello mates, this thread is sort of a new one to me,I mean I am welcomed and could get a summary of what we have been and previously discussed

Okay at your service.
1. Accumulate bitcoin and hold for a very long period of time let say 5 to 10 years and above.
2. Use only your discretionary income to accumulate bitcoin.
3. You need to have backup funds such as emergency, reserve and float funds, having this funds will help you prevent dipping hands into your bitcoin when emergency comes up, backup funds is your safe net.
4. Don’t wait to have all the knowledge about bitcoin before investing, just have the basic knowledge and then start.
5. Don’t trade bitcoin because it’s very risky.
6. We don’t discuss alt coins here it is all about bitcoin.

This and many more are all what we are discussing here, do well to do some reading too.

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

You should also understand that you emergency fund comes from your discretionary income, anyone who can't generate discretionary income will not be able to set up their emergency fund just the same way they won't be able to buy bitcoin, so buying bitcoin become easier when you already have emergency fund because both your bitcoin investment and your emergency fund (also the rest of your backup funds) come from your discretionary income.
So if you want to start buying bitcoin then the most important thing for you to do is to figure out your discretionary income, with that done you can start buying bitcoin, and also start saving your emergency fund as well as the same thing, there is no reason in delaying that if your discretionary income can cover for both, you can split your discretionary income 3 ways, using 1/3 to buy bitcoin, 1/3 for your emergency fund and 1/3 for your discretionary consumptions.

[Futurexxx]

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

You are not getting the point here, are you?
Because it seems like you think without having an emergency funds in place, you cannot buy and accumulate from your discretionary income. I want you to know that discretionary income is what is used to buy and accumulate Bitcoin weekly or monthly, and it's through that your discretionary income you make provisions for emergency and reserve funds to safeguard your Bitcoin investment against any unforseen emergencies that may have warranted you to sell prematurely, so try to understand that it's through discretionary income you invest and also put down emergency funds in place, and without figuring it out before investing is more of gambling than investment.

[BluebloodCXVI]

If a person has a lot of wealth already at the time of coming to bitcoin or maybe if they have a lot of income, then they might consider a diversification approach.  Yet, most people are not starting out their entry into bitcoin in that kind of way.

We should be trying to imagine the more likely cases, even though there are always going to be individuals who have individual circumstances that might justify that they tailor their approach to their circumstances.

The thing is that most people don’t come into bitcoin with substantial wealth or high income. Most folks started out with a modest amount of discretionary income so if they now  decide at that early point  to start spreading out their little money across multiple assets, it is more likely to slow down their progress in any one of those assets they diversified to.

If a person has a portfolio of $300 or $500, splitting it across multiple assets isn’t really a meaningful diversification in my opinion. It’s better to allocate more money to the assets that have a more higher conviction in (which should be bitcoin) and build a good foundation there first before worrying about adding another investment.

It’s more easy to be consistent if folks keep things simple. Following one strategy like regularly DCAing into bitcoin is easier especially for beginners than them trying to manage multiple investment assets at the same time.
Then perhaps as their wealth, income  and financial security improves, then they can have more flexibility to diversify without slowing down the growth of their core position.

[Humblevirus]

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

I don't know why you are confusing yourself about discretionary income and emergency funds.Discretionary income is the money that is left after you have taken care of all your needs. The money that remains is called discretionary income or discretionary funds. It is from this money that an investor is expected to set aside some amount to buy Bitcoin.also, it is from this same discretionary income that an investor should start building an emergency fund. So, an investor should not save for emergencies directly from their main income. Both the money used for Bitcoin accumulation and the money saved for emergencies should come from discretionary income.i hope you understand this point now. However, not all of the discretionary income should be used to buy Bitcoin.

[Creeper0]

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

You are not getting the point here, are you?
Because it seems like you think without having an emergency funds in place, you cannot buy and accumulate from your discretionary income. I want you to know that discretionary income is what is used to buy and accumulate Bitcoin weekly or monthly, and it's through that your discretionary income you make provisions for emergency and reserve funds to safeguard your Bitcoin investment against any unforseen emergencies that may have warranted you to sell prematurely, so try to understand that it's through discretionary income you invest and also put down emergency funds in place, and without figuring it out before investing is more of gambling than investment.

He may have confused the matter, since he is still a beginner, so it is normal. He still needs a lot of practice.

My advice to him would be, to start investing, what is discretionary money? And how and where can discretionary money be used? It is necessary to have a basic understanding of that. This is part of the basic knowledge of investing, although acquiring this knowledge before the first purchase is not mandatory, but it would be wise to acquire the basic knowledge as soon as possible after the first purchase and before the second purchase. It is very important to be aware of your ability in investing and to acquire the knowledge of keeping discretionary money. I would even suggest researching the investment strategy "DCA"

[Jostern]

Hello mates, this thread is sort of a new one to me,I mean I am welcomed and could get a summary of what we have been and previously discussed

Okay at your service.
1. Accumulate bitcoin and hold for a very long period of time let say 5 to 10 years and above.
2. Use only your discretionary income to accumulate bitcoin.
3. You need to have backup funds such as emergency, reserve and float funds, having this funds will help you prevent dipping hands into your bitcoin when emergency comes up, backup funds is your safe net.
4. Don’t wait to have all the knowledge about bitcoin before investing, just have the basic knowledge and then start.
5. Don’t trade bitcoin because it’s very risky.
6. We don’t discuss alt coins here it is all about bitcoin.

This and many more are all what we are discussing here, do well to do some reading too.

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

Perhaps as a newbie I will urge you to focus more on having a discretionary income, and however starting out with investing in Bitcoin, your emergency funds would still come from your discretionary income, where you can also keep your emergency funds and backup funds, which you wouldn’t start immediately as you start investing, you will start with that overtime as you keep investing in bitcoin.

Remember you’re not advised to invest all your discretionary income into bitcoin, and you’re only meant to invest in bitcoin with a discretionary income, using discretionary income isn’t easier when you have an emergency fund, both goes in circles, you’re getting your emergency and backup funds from your discretionary income.

[Furious 7]

One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

Because from the beginning the emergency fund must still exist and we cannot rule it out. We must keep preparing an emergency fund for at least a few months of your life because we do not know what will happen in the future which makes this have to keep minimizing the risk not only about your investment but your life in the future.

So when we have discretionary funds as much as possible you can divide it into several posts including for investment and emergency funds so that we can still buy bitcoin but on the other hand we have prepared ourselves when there are unexpected situations in our lives because we already have emergency funds to cover it.

[Brizi5000]

One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

Because from the beginning the emergency fund must still exist and we cannot rule it out. We must keep preparing an emergency fund for at least a few months of your life because we do not know what will happen in the future which makes this have to keep minimizing the risk not only about your investment but your life in the future.

So when we have discretionary funds as much as possible you can divide it into several posts including for investment and emergency funds so that we can still buy bitcoin but on the other hand we have prepared ourselves when there are unexpected situations in our lives because we already have emergency funds to cover it.

You seem to be proclaiming here that folks must have an emergency funds from the beginning even before they start investing in bitcoin of which I think is not a must to keep an emergency funds before starting out investing in bitcoin, this is not to rule out having an emergency funds for our bitcoin investment. There are folks with a lot of cash of which that makes it pretty much possible for them to have some cash with them for emergency funds even before starting out their investments. But then, there are also folks who doesn’t have that much cash especially after they might be done sorting out their basic needs but left with a discretionary income to buy bitcoin, they don’t have to wait until they have the emergency funds ready before they can start investing in bitcoin, for them not having the emergency funds ready should not stop them from investing in bitcoin as they can always try to build the emergency funds even after getting started with bitcoin investment or alongside it while accumulating bitcoin by allocating some portion of their discretionary income for accumulating bitcoin and other portion of it towards building an emergency funds.

[Popkon6]

Because from the beginning the emergency fund must still exist and we cannot rule it out. We must keep preparing an emergency fund for at least a few months of your life because we do not know what will happen in the future which makes this have to keep minimizing the risk not only about your investment but your life in the future.

Investing in Bitcoin is very important and more important than that is an emergency fund, because the emergency fund is the protection of your Bitcoin investment. However, this emergency fund is not very important. Those who give more importance to Bitcoin investment may forget about the importance of the wallet. Everything is more important, but among them, collecting the keys to the wallet is the most important because your future depends on your roof.

So when we have discretionary funds as much as possible you can divide it into several posts including for investment and emergency funds so that we can still buy bitcoin but on the other hand we have prepared ourselves when there are unexpected situations in our lives because we already have emergency funds to cover it.

If you have an emergency fund, you can complete any activity without having to rely on anyone, and you will not have to face any danger and you will be able to face any danger. However, you should not do anything excessively aggressively, it is best to involve yourself patiently and simply in Bitcoin investment.
Those who buy Bitcoin excessively and aggressively for additional benefit income have problems with Bitcoin investment. Therefore, you have to be patient in Bitcoin investment and maintain a regular buying pattern.

[Merit.s]

Investing in Bitcoin is very important and more important than that is an emergency fund, because the emergency fund is the protection of your Bitcoin investment. However, this emergency fund is not very important. Those who give more importance to Bitcoin investment may forget about the importance of the wallet. Everything is more important, but among them, collecting the keys to the wallet is the most important because your future depends on your roof.

Your bitcoin investment and emergency funds is very important which is the main reason why of you don't have any form of savings on ground before starting your bitcoin investment, you have to build both your bitcoin investment and emergency funds simultaneously putting the same amount from your discretionary income into both of them. If you feel that your emergency funds isn't important and you go ahead and start your bitcoin investment and pay less concern on your emergency funds, you might be hit with real life emergency when you haven't started building your emergency funds and that will make you sell those bitcoin to solve the real life emergency.

This is why you have to give the same same attention to your bitcoin investment and emergency funds in the beginning of your bitcoin investment. A brand new investor that do not have emergency funds should share his discretionary income into three parts 1/3 for his regular weekly DCA, 1/3 to build his emergency funds of at least three months of his monthly expenses and 1/3 for his discretionary income. It's good that in the beginning, there's a balance between your bitcoin investment and your emergency funds till you have set up your emergency funds of three months of your monthly expenses.

[alankasman]

When we already have a stable income, especially clearly with the amount and time, and on the other hand we think about our own future and want to prepare it, there are many things we can do to prepare it, one of which is to invest, Of course, if indeed our situation is able, especially stable, then investment can be an option that is done. With a stable income statement, of course, this supports investments made in the long term.

Do not feel defeated or left behind by not starting it, we can start with the beginning of a small amount or obviously in accordance with our own kemamapuan. From the stable income that we have, discretionary income will be created and that's why we can invest. apart from that, don't forget other things that also play an important role such as emergency funds that can protect the investments we make.

This will make it easier for us to make long-term Bitcoin investments because why we dare to make long-term investments is because on the one hand we have a fairly stable income with the right time so that we will always be a priority in making Bitcoin purchases regularly this may be more directed for us in making long-term Bitcoin investments so that when it makes it easy for us but with this convenience we must be precise in thinking about the future because if in this opportunity it is possible to repeat the existing opportunities we have I think it is difficult because currently we are sometimes in the right time by having the stability of the income we have it is natural to think about our future to make it easier and have the amount of assets in the form of Bitcoin that we have collected over the years through the regular way that we do when accumulating Bitcoin every time we have income or earnings that are more than our needs.

That's right, because investing isn't like a football match. It means that whenever we have the mental and financial resources that's the right time to start. Investing in Bitcoin doesn't have to be a large amount even a small amount can be invested. The reason is that the amount isn't the main issue. This shows that investing in Bitcoin is very easy and practical but it's just a matter of when we're ready to start accumulating BTC.

But we don’t need that knowledge to start investing in bitcoin, what you need to start investing in bitcoins is a discretionary income, you can have this  knowledge that you’re talking about, but if you don’t have a discretionary income you can’t start investing in bitcoin, so I feel the most important thing we should prioritize as an investor is to have a discretionary income.
I don’t think knowledge of how to start is the most important thing, someone who is ready to start investing in Bitcoin would definitely know how to start buying Bitcoin, but personally I would have to prioritize having a discretionary income.

Of course it is true but behind the existence of disposable income of course I think that knowledge is something that should be owned by those who want to do it to invest so that we can unite the language both of these things are the most important part in starting it so there is nothing wrong between the discussions or ideas that we are discussing especially someone when they already have both of these things of course with additional funds that become further motivation in making investments that make us people who do it will prioritize what we are doing so that protection will be something we must do is protect against what we are doing in investing in Bitcoin.

[Charcol]

One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

Because from the beginning the emergency fund must still exist and we cannot rule it out. We must keep preparing an emergency fund for at least a few months of your life because we do not know what will happen in the future which makes this have to keep minimizing the risk not only about your investment but your life in the future.

So when we have discretionary funds as much as possible you can divide it into several posts including for investment and emergency funds so that we can still buy bitcoin but on the other hand we have prepared ourselves when there are unexpected situations in our lives because we already have emergency funds to cover it.

So tell me, if one of us wants to invest now and doesn't have an emergency fund, will he wait for 1 year just to build an emergency fund?

Don't forget that building a full emergency fund can take up to 1-2 years. And wouldn't it be foolish to start chasing after things that he doesn't have yet?

In some cases, an emergency fund may already be in place. Because not only is it necessary to protect Bitcoin, but in real life, cash flow is also needed for sudden emergency expenses. But for those who don't have an emergency fund yet and want to start investing, we advise them to start as soon as they have discretionary income. After starting, they can decide for themselves. They can even invest and build an emergency fund at the same time with a portion of their discretionary income. This way, they can start without waiting and before they know it, they will have an emergency fund.

[G_Besar]

Okay at your service.
1. Accumulate bitcoin and hold for a very long period of time let say 5 to 10 years and above.
2. Use only your discretionary income to accumulate bitcoin.
3. You need to have backup funds such as emergency, reserve and float funds, having this funds will help you prevent dipping hands into your bitcoin when emergency comes up, backup funds is your safe net.
4. Don’t wait to have all the knowledge about bitcoin before investing, just have the basic knowledge and then start.
5. Don’t trade bitcoin because it’s very risky.
6. We don’t discuss alt coins here it is all about bitcoin.

This and many more are all what we are discussing here, do well to do some reading too.

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

These factors complement each other, and when they are in place, a person will feel calm enough to continue investing without the slightest worry. These factors are like the first steps in setting every investor's investment plan in motion, and they should not be ignored if one wants to invest long-term. Therefore, any point that can ease or facilitate our investment in Bitcoin should be considered important, as achieving success through investing clearly requires time and sufficient capital.

[Tetu100]

Thanks for the summary of the core things discussed in this thread. One point I would emphasize is that all stated above are interconnected. Using discretionary income becomes much easier when you have an emergency fund, and having both makes it easier to stick with a long-term holding strategy without being forced to sell during emergencies and difficult periods.

I don't know why you are confusing yourself about discretionary income and emergency funds.Discretionary income is the money that is left after you have taken care of all your needs. The money that remains is called discretionary income or discretionary funds. It is from this money that an investor is expected to set aside some amount to buy Bitcoin.also, it is from this same discretionary income that an investor should start building an emergency fund. So, an investor should not save for emergencies directly from their main income. Both the money used for Bitcoin accumulation and the money saved for emergencies should come from discretionary income.i hope you understand this point now. However, not all of the discretionary income should be used to buy Bitcoin.

You are right, you shouldn't be blaming him that much because he's yet to understand how the system work. Even at first when I initially started that was how I was having difficulties in understanding this till I gratually get used to it. In addiction, discretionary funds remain the best and the recommendable funds we can invest with as long as bitcoin investment is concern, investing outside of this is actually a red flag that can jeopardize our investment journey. Hence it's important we understand all of these and know how it can be apply to our investment the better for us.