JJG’s Outline of Bitcoin Investment Ideas

[Grease5000]

Investing with an emergency fund does not guarantee success because we do not know what the future will be like, but obviously starting an investment does not have to wait for an emergency fund first and investment should go well with an emergency fund.

Its true that having an emergency fund does not guarantee success in investment,  because it does not determine the direction of Bitcoin, it main functions is to prevent or reduces  the chances of selling off one's Bitcoin whenever there is an emergency situation that requires urgent funds. It's use to sort out emergency expenses

And investors don't need to wait till their emergency fund is fully built before they start buying bitcoin because it can be gradually built at the same time while you are  also accumulating bitcoin, the important thing is to make  sure you invest  using only discretionary income and holding for the long term growth.
 

[JayJuanGee]

Investing with an emergency fund does not guarantee success because we do not know what the future will be like, but obviously starting an investment does not have to wait for an emergency fund first and investment should go well with an emergency fund.

You are not to invest with your emergency funds because it's the live wire to your bitcoin investment. You are to only invest with part of your discretionary income in order to be able to continue buying with DCA continuously and holdi overtime.

Anyone that invest with his emergency funds is gambling with his bitcoin portfolio because if he's hit with real life emergency, he will be forced to sell his bitcoin at loss if the price is below his entry point at that moment. If you don't have any form of emergency funds on ground, you can start your bitcoin investment and build your emergency funds simultaneously with your bitcoin investment.

Some new investors who are very enthusiastic about becoming Bitcoin investors would be too eager to use all their discretionary funds to buy Bitcoin because they don't understand financial management, if they do they would understand that emergency funds are not to be risked for Bitcoin investment.

Bitcoin investors should priotize their emergency funds from their discretionary funds so they wouldn't be overzealous and use all their discretionary funds to buy Bitcoin because they will likely sell prematurely when an emergency happens. If you're on a long term investment plan there is no need to put yourself under pressure anytime you want to accumulate Bitcoin, it is better to always buy with amount that you can afford to lose.

Of course, individuals have to make choices based on their circumstances, and surely there will be some guys who come to bitcoin and they have absolutely no back up funds, so maybe in those circumstances, they might need to prioritize their back up funds to get them to 1 or 2 weeks of their expenses, especially if they have fluctuations in their income and/or expenses... so there is a need for guys who have no back up funds to make sure that they are not investing into bitcoin beyond their discretionary funds.. .

Yet once they have a kind of bare minimum and acceptable level of back up funds, then they can invest into bitcoin and to build up their back up funds at the same time, and there would not be any need to prioritize back up funds over their bitcoin investment, and maybe even once they get their back up funds to 4-ish weeks of their expenses, then maybe they can start to skew their allocation of their discretionary funds more towards their bitcoin investment rather than their back up funds.

So maybe in the first couple of months of buying bitcoin they allocate 33% towards bitcoin, 33% towards saving and 33% towards discretionary consumption.

Then maybe after their back up funds are equal to 4 weeks of their expenses they start to buy 50% bitcoin, 25% savings and 25% discretionary consumption.

And, of course, these adjustments to the allocation levels are judgement calls that might even have periods of upward adjustments, but then maybe periods of needing to return back to the prior lower allocation levels.

[BluebloodCXVI]

Well, whether with established financial capacity running in multi millions of dollars and holding assets worth tens or hundreds of millions or not, I believe nothing changes that they actually need funds that is definitely discretionary. In this financial elite capacity the discretionary funds will likewise range in millions together with there emergency funds giving them all that is needed to carry on with a healthier investment all to avoid emotional decisions that can wrongly affect their financial life even. Not using discretionary funds and keeping emergency funds can affect whoever (their Bitcoin portfolio and financial life generally) whether a financial elite or not.

You got a fair point mate.
Most people tend to have the assumption that once someone is wealthy, basic financial principles no longer apply to them, but that’s not really how capital management works.

There’s a difference between when a person has a high net worth and when they have cash readily available to them.
Someone could be worth a $100 million but if perhaps that wealth is tied up in businesses, real estate, or other long term assets, then they will still need liquid funds to be able to use it to cover obligations without having to sell their investment at the wrong time.

Let me also add that good risk management isn’t a habit you should just suddenly outgrow once you become wealthy. If anything it is one of the habits that will help you preserve and grow your wealth over time.

So even though the amount of money that is available to people for investing is different, the principle still remains the same; separate money meant for long-term investing from money you'll likely need in the short term regardless of whether you’re investing hundreds, thousands or millions.

[Versatile_choice]

You don't even need to be investing to have an emergency fund, this is the mistake most people make and that why even though they are probably buying bitcoin now they still don't see the need for having an emergency fund, they have this false belief that they will be able to handle whatever comes their way, forgetting to realize that the way to handle whatever comes their way is to have their emergency fund ready to handle those unexpected situations, emergencies are emergencies because no one knows when they will happen.

That is the reason why some beginners prioritize building an emergency fund before getting started, because they feel that  if they don't do it from the beginning, they may get carried away accumulating bitcoin  especially when there are no sign of an emergency. At that point, they begin to believe  that everything will continue going smoothly  until they reach their Investment target.

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

[Jewan420]

You don't even need to be investing to have an emergency fund, this is the mistake most people make and that why even though they are probably buying bitcoin now they still don't see the need for having an emergency fund, they have this false belief that they will be able to handle whatever comes their way, forgetting to realize that the way to handle whatever comes their way is to have their emergency fund ready to handle those unexpected situations, emergencies are emergencies because no one knows when they will happen.

That is the reason why some beginners prioritize building an emergency fund before getting started, because they feel that  if they don't do it from the beginning, they may get carried away accumulating bitcoin  especially when there are no sign of an emergency. At that point, they begin to believe  that everything will continue going smoothly  until they reach their Investment target.

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

Direct Bitcoin investment has nothing to do with emergency funds. The main relationship is with real life and fighting against real life emergencies. Apart from investment, you can have an emergency fund, which is certainly commendable. But when you create an emergency fund for investment purposes or as a safeguard to make an investment successful, then the relationship of the emergency fund goes directly with the investment. In this case, you must go through some rules.

You can create an emergency fund at any time, you certainly have the freedom here. But delaying starting investing on the pretext of an emergency fund will certainly not be a commendable step. The best time to start investing is as soon as you have the ability and qualifications to start investing without any delay. An emergency fund is needed from the beginning, you can initially allocate some part of your discretionary money to the emergency fund and some part for investment. To me, the step of creating an emergency fund along with investing is more preferable.

[JayJuanGee]

You don't even need to be investing to have an emergency fund, this is the mistake most people make and that why even though they are probably buying bitcoin now they still don't see the need for having an emergency fund, they have this false belief that they will be able to handle whatever comes their way, forgetting to realize that the way to handle whatever comes their way is to have their emergency fund ready to handle those unexpected situations, emergencies are emergencies because no one knows when they will happen.

That is the reason why some beginners prioritize building an emergency fund before getting started, because they feel that  if they don't do it from the beginning, they may get carried away accumulating bitcoin  especially when there are no sign of an emergency. At that point, they begin to believe  that everything will continue going smoothly  until they reach their Investment target.

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

There is no reason to emphasize the mere fact that some beginner bitcoiners do the wrong things and they are afraid for the wrong reasons and they emphasize the wrong things, such as overly emphasizing a building of an emergency fund instead of getting started.

We are talking about getting started in this thread, so if you don't have some reasonable explanation as to why you would want to build up an emergency fund, then we don't need to talk about wrong and/or inferior approaches.

Maybe you want to give an example of what you consider to be reasonable or not and then compare it with what I have been saying?

I am trying to emphasize both getting started and building an emergency fund at the same time, and, for example, if someone comes to bitcoin and they already have something like 3 months of their expenses cash and they have zero bitcoin, they likely need to use about half of their cash in order to get started buying bitcoin, whether they do it lump sum, DCA and/or buying on the dip, and then they probably could build up their bitcoin holdings and their back up funds at the same time, even though it might take them a bit of time to get back to having their back up funds up to 3 months of their expenses.

Of course these are judgement calls that also may well relate to how steady they perceive their income and/or expenses to be, and someone who has steady income/expenses is likely in a better position than a person who has unsteady income/expenses.

In other words, I see no reason to be giving undue emphasis to back up funds if guys have absolutely no bitcoin or only symbolically small amounts of bitcoin.  It is likely to better to get serious about bitcoin accumulation, and overly emphasizing holding a bunch of cash, without much if any bitcoin, does not come off as a good practice or a good approach to investing in bitcoin.

In terms of guys being able to do whatever they want (even dumb shit), of course, that is the case, yet there should be no reason to emphasize the dumb shit, and better to attempt to frame what we are doing or should be doing in terms of reasonably attempting to prioritize bitcoin investment.  And, sure another thing is that we know that it is totally in the prerogative for guys to choose their level of aggressiveness, and I frequently suggest that guys attempt to invest in bitcoin as aggressively as they are able to invest in bitcoin without overdoing it, yet at the same time, these are choices, and surely some guys choose to invest into bitcoin in whimpy ways, and that is there choice, but their choice to invest whimpily does not mean that some of us might suggest that they are likely being too whimpy within their bitcoin investment approach.

[Don Saga]

Investing with an emergency fund does not guarantee success because we do not know what the future will be like, but obviously starting an investment does not have to wait for an emergency fund first and investment should go well with an emergency fund.

Its true that having an emergency fund does not guarantee success in investment,  because it does not determine the direction of Bitcoin, it main functions is to prevent or reduces  the chances of selling off one's Bitcoin whenever there is an emergency situation that requires urgent funds. It's use to sort out emergency expenses

And investors don't need to wait till their emergency fund is fully built before they start buying bitcoin because it can be gradually built at the same time while you are  also accumulating bitcoin, the important thing is to make  sure you invest  using only discretionary income and holding for the long term growth.
 

Investing with discretionary income can only yield profits when the mindset to the right investment is implemented. There is no assured profits with investing in bitcoin with discretionary when there is no plan for a future with bitcoin, it is more like an investment based on gambling decision making.

Building portfolio is no easy fit and requires a lot of discipline and consistency and investing with funds aside discretionary funds with the wrong concept would make a bad investment that would cause pressure and uncertainties.

[Razmirraz]

Investing with an emergency fund does not guarantee success because we do not know what the future will be like, but obviously starting an investment does not have to wait for an emergency fund first and investment should go well with an emergency fund.

Its true that having an emergency fund does not guarantee success in investment,  because it does not determine the direction of Bitcoin, it main functions is to prevent or reduces  the chances of selling off one's Bitcoin whenever there is an emergency situation that requires urgent funds. It's use to sort out emergency expenses

Well, that's the most important point that beginners often overlook when starting to invest in Bitcoin. An emergency fund isn't meant to make someone rich, but rather acts as a brake, preventing investors from being forced to sell Bitcoin at the wrong time. The reason why an emergency fund is so important is to avoid selling Bitcoin during a bearish period to cover living expenses or hospital costs.
A highly recommended rule of thumb in investing in Bitcoin is to prepare an emergency fund first, after which they start with DCA, emergency funds should not be used for investment because if at any time they are needed, maybe the price of Bitcoin is dropping 30%. An emergency fund isn't meant to win against Bitcoin, but rather to win against yourself, preventing you from panicking and selling when the price drops.

[ZeroVinsonN]

You don't even need to be investing to have an emergency fund, this is the mistake most people make and that why even though they are probably buying bitcoin now they still don't see the need for having an emergency fund, they have this false belief that they will be able to handle whatever comes their way, forgetting to realize that the way to handle whatever comes their way is to have their emergency fund ready to handle those unexpected situations, emergencies are emergencies because no one knows when they will happen.

That is the reason why some beginners prioritize building an emergency fund before getting started, because they feel that  if they don't do it from the beginning, they may get carried away accumulating bitcoin  especially when there are no sign of an emergency. At that point, they begin to believe  that everything will continue going smoothly  until they reach their Investment target.

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

Beginners shouldn't prioritize their emergency fund over their investment, if they had their emergency fund in place before they considered investing in bitcoin then one can say that they didn't do anything wrong, they would eve be at an advantage since their emergency fund is already in place but if they haven't already created their emergency fund and then they decide to start buying them it's better for them to do them together, using your discretionary income you can buy bitcoin while also saving your emergency fund at the same time, your discretionary income isn't meant only for buying bitcoin and that's why newbies are advised to split their discretionary income three ways, use one to buy bitcoin, use one to build their emergency fund and the other one for their discretionary spendings.

[Jasmyne]

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

Come to think of it, are we suppose to have emergency funds only when we invest?
Emergency funds are meant to always be, investing or not, so I wonder why people are now starting to build emergency funds only when they want to invest. It making it look like maybe before starting investment, there was no emergency bills.

For anyone trying to live comfortable while investing or not in order to avoid financial crisis like going into debts, selling off bitcoin at loss or before long term goal, emergency funds are always important to have. It does not necessary take away financial crisis but helps you manage it well.

[Nwaswago]

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

Come to think of it, are we suppose to have emergency funds only when we invest?
Emergency funds are meant to always be, investing or not, so I wonder why people are now starting to build emergency funds only when they want to invest. It making it look like maybe before starting investment, there was no emergency bills.

For anyone trying to live comfortable while investing or not in order to avoid financial crisis like going into debts, selling off bitcoin at loss or before long term goal, emergency funds are always important to have. It does not necessary take away financial crisis but helps you manage it well.

An emergency fund isn't something that suddenly becomes important because a person starts investing, it's actually part of good financial management whether you own Bitcoin or not. The difference is that once you begin investing, the consequences of not having one become more obvious.
Without an emergency fund, even someone with good knowledge in Bitcoin may be forced to sell during a market downturn just to cover an unexpected expense. At that point, the problem isn't Bitcoin rather it's the lack of liquidity to handle emergencies.
That's why I see an emergency fund as a tool that protects both your finances and your investment.

[The Founding Titan]

Investing with an emergency fund does not guarantee success because we do not know what the future will be like, but obviously starting an investment does not have to wait for an emergency fund first and investment should go well with an emergency fund.

Its true that having an emergency fund does not guarantee success in investment,  because it does not determine the direction of Bitcoin, it main functions is to prevent or reduces  the chances of selling off one's Bitcoin whenever there is an emergency situation that requires urgent funds. It's use to sort out emergency expenses

And investors don't need to wait till their emergency fund is fully built before they start buying bitcoin because it can be gradually built at the same time while you are  also accumulating bitcoin, the important thing is to make  sure you invest  using only discretionary income and holding for the long term growth.
 

Investing with discretionary income can only yield profits when the mindset to the right investment is implemented. There is no assured profits with investing in bitcoin with discretionary when there is no plan for a future with bitcoin, it is more like an investment based on gambling decision making.

Building portfolio is no easy fit and requires a lot of discipline and consistency and investing with funds aside discretionary funds with the wrong concept would make a bad investment that would cause pressure and uncertainties.

Fro an individual there is no right concept to invest outside of your discretionary income, you investment should be kept within the means of your discretionary income and should be done with an amount you can tolerate, if you can't tolerate it then there is no need to be aggressive, bitcoin investment isn't something kind of a competition with other investors, you don't have the same amount of discretionary income as they do and you don't have the same tolerance level, invest at your own pace and let others invest within their own limits, with consistency and discipline even with no guarantee of success you will be in a better position then you are now in 10 years.

[Itz-prisigold]

Investing with discretionary income can only yield profits when the mindset to the right investment is implemented. There is no assured profits with investing in bitcoin with discretionary when there is no plan for a future with bitcoin, it is more like an investment based on gambling decision making.

Building portfolio is no easy fit and requires a lot of discipline and consistency and investing with funds aside discretionary funds with the wrong concept would make a bad investment that would cause pressure and uncertainties.

I think that you are over emphasising of a person having the right mindset, you made it sound like it's what makes the profit.  Sure, having the right mindset is certainly a crucial part of being an investor because it will help you stay disciplined, stick to the plan and make sure that you do not make decisions on emotions, but that doesn't mean it will guarantee a profitable outcome.

The idea of a right mindset is to help an investor make a right decision and stick to his long term accumulation plan, but not to ensure that he or she will get a guarantee profits.  Having the right attitude is not a 100% assurance of success. Real value of the right mindset is that it will allow an investor to maintain a sustainable accumulation strategy for a period of time and not take emotional or short term investment decisions.

[Fash33]

Investing with an emergency fund does not guarantee success because we do not know what the future will be like, but obviously starting an investment does not have to wait for an emergency fund first and investment should go well with an emergency fund.

You are not to invest with your emergency funds because it's the live wire to your bitcoin investment. You are to only invest with part of your discretionary income in order to be able to continue buying with DCA continuously and holdi overtime.

Anyone that invest with his emergency funds is gambling with his bitcoin portfolio because if he's hit with real life emergency, he will be forced to sell his bitcoin at loss if the price is below his entry point at that moment. If you don't have any form of emergency funds on ground, you can start your bitcoin investment and build your emergency funds simultaneously with your bitcoin investment.

Some new investors who are very enthusiastic about becoming Bitcoin investors would be too eager to use all their discretionary funds to buy Bitcoin because they don't understand financial management, if they do they would understand that emergency funds are not to be risked for Bitcoin investment.

Bitcoin investors should priotize their emergency funds from their discretionary funds so they wouldn't be overzealous and use all their discretionary funds to buy Bitcoin because they will likely sell prematurely when an emergency happens. If you're on a long term investment plan there is no need to put yourself under pressure anytime you want to accumulate Bitcoin, it is better to always buy with amount that you can afford to lose.

Of course, individuals have to make choices based on their circumstances, and surely there will be some guys who come to bitcoin and they have absolutely no back up funds, so maybe in those circumstances, they might need to prioritize their back up funds to get them to 1 or 2 weeks of their expenses, especially if they have fluctuations in their income and/or expenses... so there is a need for guys who have no back up funds to make sure that they are not investing into bitcoin beyond their discretionary funds.. .

This is a reasonable point, when someone don’t have backup funds, it is very easy to makes every unexpected expense a potential reason to interrupt investment plan. because a minor emergency could force investor to sell their bitcoin at a very bad time, defeating the purpose of long term investing. but with a small emergency reserve, it allows investor to hold his bitcoin investment with confidence during any price movement. Furthermore, I think if person has any discretionary income after covering their needs, it’s important not to delay their investment, even if is small amount of fund going into bitcoin while some of discretionary goes toward the emergency reserve. That mean they are still developing and starting their long term accumulation instead of waiting for perfect time.

[Hardyrobust]

You don't even need to be investing to have an emergency fund, this is the mistake most people make and that why even though they are probably buying bitcoin now they still don't see the need for having an emergency fund, they have this false belief that they will be able to handle whatever comes their way, forgetting to realize that the way to handle whatever comes their way is to have their emergency fund ready to handle those unexpected situations, emergencies are emergencies because no one knows when they will happen.

That is the reason why some beginners prioritize building an emergency fund before getting started, because they feel that  if they don't do it from the beginning, they may get carried away accumulating bitcoin  especially when there are no sign of an emergency. At that point, they begin to believe  that everything will continue going smoothly  until they reach their Investment target.

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

It may not be a bad idea for an investor to set up an emergency funds before they start buying bitcoin. But it is still a good thing  if they decide to start investing in bitcoin provided they have discretionary income to do so and not necessarily that they must have set up an emergency funds. Those without emergency funds can be building up there emergency funds along side there bitcoin investment and not delaying to start up there bitcoin investment because they want to set up an emergency funds first. The issue of being carried away, will only happen when such an investor fails to appreciate the importance of emergency funds in achieving there long term investment goals.

[Lembo69]

Direct Bitcoin investment has nothing to do with emergency funds. The main relationship is with real life and fighting against real life emergencies. Apart from investment, you can have an emergency fund, which is certainly commendable. But when you create an emergency fund for investment purposes or as a safeguard to make an investment successful, then the relationship of the emergency fund goes directly with the investment. In this case, you must go through some rules.

You can create an emergency fund at any time, you certainly have the freedom here. But delaying starting investing on the pretext of an emergency fund will certainly not be a commendable step. The best time to start investing is as soon as you have the ability and qualifications to start investing without any delay. An emergency fund is needed from the beginning, you can initially allocate some part of your discretionary money to the emergency fund and some part for investment. To me, the step of creating an emergency fund along with investing is more preferable.

Yes, if an investor wants, he can create an emergency fund from the beginning, it will definitely be a wise thing to do. But if someone thinks that he will invest later and create an emergency fund first, then is it a wise thing to do? Maybe not, it will never be a wise thing to do. Because the first thing an investor should do is to start early, if he delays in starting, he may lag behind in investing.

An emergency fund is very important not only for our investment but also for living a normal life. Living without an emergency fund is like living a daily life with a hitch. A common person who earns only daily income and somehow makes a living should also have an emergency fund because emergency funds are extremely important in our life.

[Grease5000]

Yes, if an investor wants, he can create an emergency fund from the beginning, it will definitely be a wise thing to do. But if someone thinks that he will invest later and create an emergency fund first, then is it a wise thing to do? Maybe not, it will never be a wise thing to do. Because the first thing an investor should do is to start early, if he delays in starting, he may lag behind in investing.

An emergency fund is very important not only for our investment but also for living a normal life. Living without an emergency fund is like living a daily life with a hitch. A common person who earns only daily income and somehow makes a living should also have an emergency fund because emergency funds are extremely important in our life.

I agree with the main point. An emergency fund is important because emergencies don't usually give us notice before they happen. But I also believe  that it is wrong  to discourage people from starting to buying bitcoin just because they haven't built a full emergency fund yet.

As long someone is able to identify his or her discretionary income they  can start accumulating bitcoin through DCA or lump depending on their finance while also building their emergency fund alongside it.  the important thing is to invest using only discretionary income  and not invest money meant for basic needs. This way, one can keep accumulating bitcoin also preparing for unexpected situations.

[Sim_card]

investing with funds aside discretionary funds with the wrong concept would make a bad investment that would cause pressure and uncertainties.

Even if you invest with the right concept since, it's not your discretionary income, you have already invested wrongly because you will definitely sell your bitcoin cheaper when you need arises if the market is below your entry point.

A highly recommended rule of thumb in investing in Bitcoin is to prepare an emergency fund first, after which they start with DCA.

If you don't have any form of savings or backup funds on ground and you have the intention to start investing into bitcoin. You don't need to first build your emergency funds because you didn't start early why wasting time again waiting till you have build your emergency funds that can take you up to a year or more to build it to three months of your expenses.

You are to start buying bitcoin right away and build your emergency funds simultaneously with your bitcoin investment instead of waiting for fun because waiting is a set back strategy when investing into bitcoin. You didn't read JJG reply above if not you wouldn't say this.

[Queen uloma]

You don't even need to be investing to have an emergency fund, this is the mistake most people make and that why even though they are probably buying bitcoin now they still don't see the need for having an emergency fund, they have this false belief that they will be able to handle whatever comes their way, forgetting to realize that the way to handle whatever comes their way is to have their emergency fund ready to handle those unexpected situations, emergencies are emergencies because no one knows when they will happen.

That is the reason why some beginners prioritize building an emergency fund before getting started, because they feel that  if they don't do it from the beginning, they may get carried away accumulating bitcoin  especially when there are no sign of an emergency. At that point, they begin to believe  that everything will continue going smoothly  until they reach their Investment target.

I must say that this works for many, while some were not favoured. Many people fail to understand that emergencies do not come with warning, they  happen unexpectedly. that is why having an emergency funds is important, it's individuals choice to decide if they will build it before getting started or build it along side thier bitcoin Investment whichever way they think is best for them let them do it.

It may not be a bad idea for an investor to set up an emergency funds before they start buying bitcoin. But it is still a good thing  if they decide to start investing in bitcoin provided they have discretionary income to do so and not necessarily that they must have set up an emergency funds. Those without emergency funds can be building up there emergency funds along side there bitcoin investment and not delaying to start up there bitcoin investment because they want to set up an emergency funds first. The issue of being carried away, will only happen when such an investor fails to appreciate the importance of emergency funds in achieving there long term investment goals.

You’re very correct, if someone has a discretionary income, it’s not compulsory that they must wait until their emergency funds is complete before they will buy bitcoin. The most important thing is that, they didn’t use money that  is supposed to cover up for rent, transport, food or other important responsibilities to use in investing.
The best approach is to build both emergency funds and bitcoin investment.

 If you invest little money in bitcoin through DCA, it’s also essential to put another part aside for emergency funds. That is why when an unexpected challenges show up, you won’t rush to sell your bitcoin at a loss because you need urgent money. The main danger is not whether a person start bitcoin before emergency funds or after. The real problem is when someone neglects the importance of emergency funds because they want to focus on accumulating bitcoin. Emergency funds helps to protect your investments and it’s also help in bitcoin long term investment without panicking to sell whenever emergency happens.

[samadam007]

As long someone is able to identify his or her discretionary income they  can start accumulating bitcoin through DCA or lump depending on their finance while also building their emergency fund alongside it.  the important thing is to invest using only discretionary income  and not invest money meant for basic needs. This way, one can keep accumulating bitcoin also preparing for unexpected situations.

Someone using discretionary income to can still be able to build emergency fund and accumulate Bitcoin at the same time. The two goals does not have to compete with each other. Let take for example, your left with $250 every month after covering basic needs. Instead of you to put everything into emergency funds or Bitcoin, you can actually split it and maybe save like $150 for emergencies and invest $100 into Bitcoin with DCA. As time goes on, the emergency funds grows while you’re building a solid position…very balanced approach

The important thing is folks should never buy BTC with funds meant for their basic needs. There is nothing wrong with working towards the two goals at the same time. It allows you to prepare for emergencies without delaying to take the first step of Bitcoin accumulation