JJG’s Outline of Bitcoin Investment Ideas

[Xackie]

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Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

What you mentioned is also part of the knowledge that everyone who wants to invest in Bitcoin should have first. This means that a higher level of knowledge before directly acquiring income is the most important thing that everyone must have in mind, because many people are reckless enough to invest even though they themselves don't have sufficient knowledge about how to invest long-term.

So, investment knowledge should remain the first priority, supported by capital generated through business or our own monthly income, or capital that can be used directly for investment after meeting basic living needs. That is why I never ignore knowledge because it is like a guide in life because without it it will always be easier to suffer losses because the path and method are not clear or more often wrong when executing by guessing or feeling.

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

[Hardyrobust]

Snip.

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

Discretionary income lets you invest with a clear head. No financial pressure means you won't panic sell. But money alone isn't enough. Knowledge is the foundation. Even with discretionary capital, you can still lose everything with poor management or a bad strategy.

Knowledge helps you spot scams, store your assets right "not your keys, not your coins", use the right strategy, and know when to DCA or buy more. Meanwhile, discretionary income covers your bills so you don't have to sell when the market dumps.

They go hand in hand. Discretionary income is your shield against real-life problems. Knowledge is the game plan that keeps you from getting rekt.

As long as getting started is concerned, what we need is to be able to figure out if we have discretionary income and then we can start accumulating bitcoin. It will be wrong to start investing in bitcoin when we don't have or haven't figured out our discretionary income even when we have acquired all the knowledge we think is necessary. So with discretionary income we can start and learn everything we need to know as we continue accumulating bitcoin but having the right knowledge without discretionary income won't be possible for us to start investing in bitcoin. Hence, the most important thing is for we to figure out our discretionary first.

[Halifat]

What you mentioned is also part of the knowledge that everyone who wants to invest in Bitcoin should have first. This means that a higher level of knowledge before directly acquiring income is the most important thing that everyone must have in mind, because many people are reckless enough to invest even though they themselves don't have sufficient knowledge about how to invest long-term.

So, investment knowledge should remain the first priority, supported by capital generated through business or our own monthly income, or capital that can be used directly for investment after meeting basic living needs. That is why I never ignore knowledge because it is like a guide in life because without it it will always be easier to suffer losses because the path and method are not clear or more often wrong when executing by guessing or feeling.

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

You have actually make a very good point here, this is where some of us delay their investment by bringing excuses of learning before investing, take a look at the example you bring, it is very cleared, start investing from there you will get to know more about it. The only thing that is required is discretionary income and once it has been located start your investment immediately, divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

[Son Of Blockchain (SOB)]

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

You have actually make a very good point here, this is where some of us delay their investment by bringing excuses of learning before investing, take a look at the example you bring, it is very cleared, start investing from there you will get to know more about it. The only thing that is required is discretionary income and once it has been located start your investment immediately, divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

It's doesn’t even take too long to know how to buy Bitcoin so if someone has the discretionary income available i see no reason why the person should be waiting to learn everything before buying, Bitcoin is complex cause the technical aspect of it is also involved which could take a while to be understood.
 So instead of waiting long enough to understand it completely starting with the discretionary income available is more better for a beginner, then with time the person would catch up with the important things that's needed to be known. Afterall, "practice makes perfect".

[IjawMan]

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

Knowing that you need discretionary income to use in making your investment in Bitcoin and equally how to be strategic with your accumulation consistently buying is also knowledge. To have a discretionary income you must have a paying job or a business that gives you income.

Bitcoin investment is not all that difficult for a newbie not to grap and be in the right direction in term of investment approach to use and timeframe for the Bitcoin accumulation maturity. All that is required to gain the knowledge is learning and this can also be done while the Investor is already accumulating.

[Primark]

<<<

<<<

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

What you mentioned is also part of the knowledge that everyone who wants to invest in Bitcoin should have first. This means that a higher level of knowledge before directly acquiring income is the most important thing that everyone must have in mind, because many people are reckless enough to invest even though they themselves don't have sufficient knowledge about how to invest long-term.

So, investment knowledge should remain the first priority, supported by capital generated through business or our own monthly income, or capital that can be used directly for investment after meeting basic living needs. That is why I never ignore knowledge because it is like a guide in life because without it it will always be easier to suffer losses because the path and method are not clear or more often wrong when executing by guessing or feeling.

Making knowledge the most important thing before you start buying Bitcoin can create an unnecessary barrier for beginners. It is not mandatory to have all the knowledge at the beginning of investing. If someone has real discretionary income after covering all their expenses, then they can start without hesitation. Because there is still room to learn even after starting, so acquiring additional knowledge should not be an excuse. If someone has $50 of discretionary income, their first purchase can be $10 or $20 or any other small amount that suits their situation. This allows them to start at the same time and continue learning about Bitcoin.

But when you say "know enough first, invest later", the problem becomes how much is enough? In my opinion, starting with a small amount for a new investor will increase their understanding as they gain real experience managing their own cashflow.

[GIF-JOBS]

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

You have actually make a very good point here, this is where some of us delay their investment by bringing excuses of learning before investing, take a look at the example you bring, it is very cleared, start investing from there you will get to know more about it. The only thing that is required is discretionary income and once it has been located start your investment immediately, divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

It's doesn’t even take too long to know how to buy Bitcoin so if someone has the discretionary income available i see no reason why the person should be waiting to learn everything before buying, Bitcoin is complex cause the technical aspect of it is also involved which could take a while to be understood.
 So instead of waiting long enough to understand it completely starting with the discretionary income available is more better for a beginner, then with time the person would catch up with the important things that's needed to be known. Afterall, "practice makes perfect".

The process of starting to buy Bitcoin is easy, we can start investing in Bitcoin very easily, but the main thing is to maintain your stability towards your goals, as well as to keep your portfolio safe, and to prepare yourself financially and mentally for any emergency situation. However, you do not have to prepare all these things before investing, but you will prepare everything after you start investing.
There is no need to sit around for years waiting to learn everything perfectly, but start with small amounts of extra money and learn through practical experience. This will also give you practical experience and both knowledge and confidence will increase over time, and the most important thing is that your investment will also be ongoing. That is, you can learn Bitcoin well while continuing your investment and create an emergency fund for financial security while continuing to invest, so it will not hold you back in any way.

[Nwaswago]

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

Knowing that you need discretionary income to use in making your investment in Bitcoin and equally how to be strategic with your accumulation consistently buying is also knowledge. To have a discretionary income you must have a paying job or a business that gives you income.

Bitcoin investment is not all that difficult for a newbie not to grap and be in the right direction in term of investment approach to use and timeframe for the Bitcoin accumulation maturity. All that is required to gain the knowledge is learning and this can also be done while the Investor is already accumulating.

I agree that discretionary income is important because you shouldn't invest money that you may urgently need for basic expenses or emergencies. However, I wouldn't say it's the only thing someone needs before starting Bitcoin accumulation. Having an emergency fund, understanding Bitcoin's volatility, and knowing your own risk tolerance are equally important.I also agree that learning doesn't have to stop once you start accumulating. In fact, a small and affordable amount can give you practical experience while you continue learning about Bitcoin, market cycles, security, and different accumulation strategies. The key is to avoid investing more than you can comfortably afford to lose and to have a clear long-term plan rather than reacting to short-term price movements.

[MiF]

Snip.

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

Discretionary income lets you invest with a clear head. No financial pressure means you won't panic sell. But money alone isn't enough. Knowledge is the foundation. Even with discretionary capital, you can still lose everything with poor management or a bad strategy.

Knowledge helps you spot scams, store your assets right "not your keys, not your coins", use the right strategy, and know when to DCA or buy more. Meanwhile, discretionary income covers your bills so you don't have to sell when the market dumps.

They go hand in hand. Discretionary income is your shield against real-life problems. Knowledge is the game plan that keeps you from getting rekt.

As long as getting started is concerned, what we need is to be able to figure out if we have discretionary income and then we can start accumulating bitcoin. It will be wrong to start investing in bitcoin when we don't have or haven't figured out our discretionary income even when we have acquired all the knowledge we think is necessary. So with discretionary income we can start and learn everything we need to know as we continue accumulating bitcoin but having the right knowledge without discretionary income won't be possible for us to start investing in bitcoin. Hence, the most important thing is for we to figure out our discretionary first.

that discretionary spending should take priority over accumulating Bitcoin. While knowledge is a wonderful thing and can help us find out what the safer path is, the understanding of risk and avoidance of common mistakes, knowledge alone cannot replace the money that is available for investment. Even a minor market downturn can cause additional stress and panic selling if someone allocates money that is required to pay rent, food, bills or funds for emergencies. With the extra cash to spare, investors will have the time to ride the ups and downs of the market and continue learning. Thus, it is logical that the first question in mind before buying Bitcoin is how much money we can put to work safely.

[PERtua]

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

Knowing that you need discretionary income to use in making your investment in Bitcoin and equally how to be strategic with your accumulation consistently buying is also knowledge. To have a discretionary income you must have a paying job or a business that gives you income.

Bitcoin investment is not all that difficult for a newbie not to grap and be in the right direction in term of investment approach to use and timeframe for the Bitcoin accumulation maturity. All that is required to gain the knowledge is learning and this can also be done while the Investor is already accumulating.

I agree that discretionary income is important because you shouldn't invest money that you may urgently need for basic expenses or emergencies. However, I wouldn't say it's the only thing someone needs before starting Bitcoin accumulation. Having an emergency fund, understanding Bitcoin's volatility, and knowing your own risk tolerance are equally important.I also agree that learning doesn't have to stop once you start accumulating. In fact, a small and affordable amount can give you practical experience while you continue learning about Bitcoin, market cycles, security, and different accumulation strategies. The key is to avoid investing more than you can comfortably afford to lose and to have a clear long-term plan rather than reacting to short-term price movements.

I can't argue with what you're saying about discretionary income. But I believe the larger topic is having a sustainable plan. Bitcoin can be very volatile. So it is crucial for investors to ensure that their basic expenses and emergency requirements are met at first. Once they have started to accumulate. Then a consistent investment at a price they can afford makes more sense than trying to time all market movements. It's also important to remember that learning as you invest can help you but only if the investment is manageable. A beginner can avoid making emotional decisions with major price swings by understanding risk. Security market cycles and having a long term mindset.

[ruykeri]

I agree that discretionary income is important because you shouldn't invest money that you may urgently need for basic expenses or emergencies. However, I wouldn't say it's the only thing someone needs before starting Bitcoin accumulation. Having an emergency fund, understanding Bitcoin's volatility, and knowing your own risk tolerance are equally important.I also agree that learning doesn't have to stop once you start accumulating. In fact, a small and affordable amount can give you practical experience while you continue learning about Bitcoin, market cycles, security, and different accumulation strategies. The key is to avoid investing more than you can comfortably afford to lose and to have a clear long-term plan rather than reacting to short-term price movements.

If someone initially thinks that they have to invest as much as they can afford to lose, then new investors may misunderstand that it is normal to lose money if they invest in bitcoin. For this reason, we should start investing with discretionary income and emphasize it more. Along with this, we should have a long-term mindset for holding. A new investor should also understand that bitcoin does not give guaranteed profit. Although, if someone holds for a long time for 4 to 10 years or more, then it is unlikely that their fund will completely become 0 or the price of bitcoin will become 0. But since bitcoin is a volatile asset, a new investor should understand that it is not a guaranteed profit before investing. Now, if we consider how a new investor can gain trust and confidence, then he will be confident even if he compares it with the price of bitcoin in the past. In addition, to understand that long-term investment increases the chances of success, if you hold bitcoin from any time, it has been kept for 4 years in the past, then there must have been a profit. Considering that the acceptance of bitcoin is currently increasing and the demand for bitcoin will increase, the price of bitcoin is very likely to increase in the future.

[Charcol]

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

Dividing discretionary income into 3 parts may not be a logical decision for everyone, because the same formula may not work for every investor. For example, there are two users who have $300 of discretionary income per month. The first of them may already have an emergency fund and a stable income. The other does not have an emergency fund and even his income is uncertain. In this case, the same 1/3, 1/3, 1/3 formula may not be realistic for both of them. Because the first person may be comfortable giving $200 in Bitcoin. But the second may be more concerned with putting a larger portion of his discretionary income into an emergency fund or reserve fund.

[Sally9256]

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

Dividing discretionary income into 3 parts may not be a logical decision for everyone, because the same formula may not work for every investor. For example, there are two users who have $300 of discretionary income per month. The first of them may already have an emergency fund and a stable income. The other does not have an emergency fund and even his income is uncertain. In this case, the same 1/3, 1/3, 1/3 formula may not be realistic for both of them. Because the first person may be comfortable giving $200 in Bitcoin. But the second may be more concerned with putting a larger portion of his discretionary income into an emergency fund or reserve fund.

When it comes to allocation of discretionary income, I would say it a Matter of preference and individual bitcoin target. Even if 2 different people have the same discretionary income, they might have different bitcoin target, both people time frame to achieve a certain number of bitcoin will be different, and with that their allocation to investment will definitely be different.

So the debate about sharing your discretionary income into 3 set is unrealistic. Different individuals, different preference and mindset. The major thing is make sure you keep your investment going and also make sure they are well protected.

[Brownfish-B]

I agree that discretionary income is important because you shouldn't invest money that you may urgently need for basic expenses or emergencies. However, I wouldn't say it's the only thing someone needs before starting Bitcoin accumulation. Having an emergency fund, understanding Bitcoin's volatility, and knowing your own risk tolerance are equally important.I also agree that learning doesn't have to stop once you start accumulating. In fact, a small and affordable amount can give you practical experience while you continue learning about Bitcoin, market cycles, security, and different accumulation strategies. The key is to avoid investing more than you can comfortably afford to lose and to have a clear long-term plan rather than reacting to short-term price movements.

If someone initially thinks that they have to invest as much as they can afford to lose, then new investors may misunderstand that it is normal to lose money if they invest in bitcoin. For this reason, we should start investing with discretionary income and emphasize it more. Along with this, we should have a long-term mindset for holding. A new investor should also understand that bitcoin does not give guaranteed profit. Although, if someone holds for a long time for 4 to 10 years or more, then it is unlikely that their fund will completely become 0 or the price of bitcoin will become 0. But since bitcoin is a volatile asset, a new investor should understand that it is not a guaranteed profit before investing. Now, if we consider how a new investor can gain trust and confidence, then he will be confident even if he compares it with the price of bitcoin in the past. In addition, to understand that long-term investment increases the chances of success, if you hold bitcoin from any time, it has been kept for 4 years in the past, then there must have been a profit. Considering that the acceptance of bitcoin is currently increasing and the demand for bitcoin will increase, the price of bitcoin is very likely to increase in the future.

If the purpose of investing is just to make a quick profit. Then it can easily lead to emotions and wrong decisions whether it is a new investor or a complete one.

The foundation of a good investment should be to understand the risks and have a long term view starting from the extra income within your ability.
Bitcoin is not a guaranteed profit machine. Its price will fluctuate sometimes there may be a big fall. Therefore it is important to build your own financial foundation along with investing. For example having an emergency fund or building a backup fund so that you do not have to break the investment if you suddenly need it or face bad times. Then DCA can be done little by little every week or month. This reduces the risk of investing large sums of money at once and gradually builds your position in Bitcoin. This reduces the pressure of making big decisions at once and makes it easier to be consistent even in market fluctuations. The most important thing for new investors like us is to start with money that will not affect their daily lives. Starting small learning regularly and letting time work in your favor is the main foundation of long term investment. 

Investing is not about trying to get rich overnight but rather investing is a wonderful combination of patience discipline risk management and a long term vision. Those who look for shortcuts lose money while those who invest long term build wealth.

[Different patterns]

You are correct that the knowledge shouldn't be the first priority of every investors, even with the little basics understanding can leads them far. The main goals is to developing the habits of consistent buying regularly, don't hesitate on wasting time to achieve what's not necessary at first, what I really loves with this bitcoin investment ideas is, even if you don't know something now from the starting as a newbie, just begin the investment and as time goes on everything would be understood gradually with time. Invest what you can afford to lose and invest with only discretionary income.

Yes, but you should start investing by gaining general knowledge, because if you start with absolutely zero knowledge, you are more likely to get scared due to market volatility in the beginning. So if you start by gaining general knowledge, then it will be easier to maintain it.
So first know some general things, and start with small amounts and make a habit of regular investment and at the same time gradually increase your knowledge and learn Bitcoin better through your practical experience. But in the beginning, you must have a general idea about what you are buying, why you are buying and how much risk you can take. Then your goal will be clear from the beginning and you will be able to strengthen your position without any weakness.

It is said that it is not mandatory to know everything before starting Bitcoin. If someone has common sense and discretionary income, then he can start without hesitation. But you probably mean by common sense the so-called basic knowledge about Bitcoin. Common sense does not mean that you know the basic concept of Bitcoin. Rather, common sense is that you can go to the market and buy a product and calculate its price.

Common sense does not help anyone to calculate discretionary funds.  A person needs to know math in order to figure out if he has discretionary funds.

Common sense is about being able to recognize what is reasonable... so a person with common sense would spend within his budget.  A person with common sense would look both ways before crossing the street. a person with common sense would recognize that if he does not know enough math to calculate his discretionary funds, then he has to figure that out before he gets started.  So the guy with common sense might realize that he needs to learn math or at least perhaps practice writing his income and expenses down on paper until he understands whether he has discretionary funds or not.

I share from your view. i also believe that common sense and mathematics, they are doing separate jobs, because you can use your common sense to decide what to do with what you have, but you can not use it to calculate your discretionary funds, That’s two different thing, and lemme also come with little examples what really make them different. For instance someone earning $200,000 a month and the only necessary expenses is $150,000, you can calculate that you have $50,000 left. That calculation alone, you can’t use common sense, it only requires basics math. But common can be use if decided to saved the $50,000 or to invest it into bitcoin. The important part is to know what you can comfortably afford before putting your funds into investment.

[Son Of Blockchain (SOB)]

I agree that discretionary income is important because you shouldn't invest money that you may urgently need for basic expenses or emergencies. However, I wouldn't say it's the only thing someone needs before starting Bitcoin accumulation. Having an emergency fund, understanding Bitcoin's volatility, and knowing your own risk tolerance are equally important.I also agree that learning doesn't have to stop once you start accumulating. In fact, a small and affordable amount can give you practical experience while you continue learning about Bitcoin, market cycles, security, and different accumulation strategies. The key is to avoid investing more than you can comfortably afford to lose and to have a clear long-term plan rather than reacting to short-term price movements.

Understanding the investment better, building and emergency funds including risk management can be settled on the long run but what an investor needs to start investing in Bitcoin is the discretionary income, if the person wait till when they're able to figure out everything you mentioned, it could take longer than expected so since or if the discretionary income is ready why not start and figure out others on the long run?
 Good you acknowledge that learning is constant even after starting which is more reason why people shouldn't be waiting to fully understand Bitcoin and settle other important things that's necessary to aid the investment before starting, so far the discretionary income is available, they and go ahead to buy.

[BluebloodCXVI]

that discretionary spending should take priority over accumulating Bitcoin. While knowledge is a wonderful thing and can help us find out what the safer path is, the understanding of risk and avoidance of common mistakes, knowledge alone cannot replace the money that is available for investment. Even a minor market downturn can cause additional stress and panic selling if someone allocates money that is required to pay rent, food, bills or funds for emergencies. With the extra cash to spare, investors will have the time to ride the ups and downs of the market and continue learning. Thus, it is logical that the first question in mind before buying Bitcoin is how much money we can put to work safely.

Learn how to separate financial security from bitcoin accumulation, don’t get them mixed up.

You don’t have to wait until everything is perfectly in place before you can start to get some exposure to the bitcoin market.

As long as you have been able to take care of your essential expenses, if you happen to have some emergency cushion available to you at that point in time, putting in a small portion of genuine surplus into Bitcoin can let you have some exposure without putting yourself under too much financial pressure.

IMO, adjusting your bitcoin allocation to the kind of level where it now matches your financial situation is of greater importance than trying to follow some fixed formula made up by some bloke you don’t even know.

[abaeze]

As long as you have been able to take care of your essential expenses, if you happen to have some emergency cushion available to you at that point in time, putting in a small portion of genuine surplus into Bitcoin can let you have some exposure without putting yourself under too much financial pressure.

Just because you have some emergency savings doesn't mean it's safe to buy Bitcoin. Because if your emergency savings are very small, you may need to sell Bitcoin if your income or expenses suddenly stop. Then investment risk and financial-security risk come together. However, there is no rule that prohibits taking Bitcoin exposure until your financial security is 100% perfect. So first decide what is right for you according to your ability. Because what is right for Lil may be risky for X.

On the other hand, if the price of Bitcoin drops by 50% and you don't have to sell Bitcoin to anyone for months or years, will he/she be able to handle their essential living expenses and emergencies? This answer will not be the same for everyone.

Similarly, if the answer is yes, then investing a small portion of your surplus in Bitcoin is quite reasonable. But if the answer is no, then it is more important to strengthen your financial cushion first than to buy Bitcoin.