JJG’s Outline of Bitcoin Investment Ideas

[Abbatty]

Investing in Bitcoin and still be putting down your back up funds simultaneously have nothing to do with your financial capacity, but more to do with your ability to sort out your discretionary income, because if you can sort out your discretionary income, your can divide it into three places, one place for investment, one place to set up your emergency and reserve funds and other place for discretionary consumption. So you can do all that simultaneously, as long as you can figure out your discretionary income.

I disagree with you, if Investing in Bitcoin and putting down back up funds simultaneously has nothing to do with financial capacity then, if the finance is been taken off for instance, how do you go about it? You sound so funny dude, in everything we do about investment finance plays a major role because without it in the first place investment is not possible which means that we need finance in every Investment yet it doesn't mean one have to be very strong in their finance before they can invest.

Finance is what we actually need to buy out investment, but having a steady finance is very good to begin but it shouldn’t stop you from investing. Sometimes people tend to mistake finance with steady finance. You can begin your investment even without having a steady income, you can start your investment with funds from gifts and so many other ways.

Financial balance only makes it more easy, it makes you more consistent and give your holdings protection. A person will a consistent income can easily protect his holding by making provisions for emergency funds and reserve funds.

So yes we need finance to buy our bitcoin, or even begin our investment journey, a Steady income only makes it more easy and to be more consistent.

[#BTC]

So yes we need finance to buy our bitcoin, or even begin our investment journey, a Steady income only makes it more easy and to be more consistent.

Pure fact guy, when you're  financially guide (capable) is very essential and can easily aid up someone else investment journey.

Again, there is this fact some people isn't getting right, especially those young investors inspiring to go into Bitcoin investment.

Some of them always think that it's important to first have a steady flow of income before investing and such idea can hinder a person with a good intentions from investing. Yeah, I can understand that a steady cash flow can be so flexible to any investment and also can be very beneficial , but it shouldn't be the reason for holding you back from doing what's expected.

[ejikeme24]

Finance is what we actually need to buy out you can start your investment with funds from gifts and so many other ways.

Financial balance only makes it more easy, it makes you more consistent and give your holdings protection. A person will a consistent income can easily protect his holding by making provisions for emergency funds and reserve funds.

So yes we need finance to buy our bitcoin, or even begin our investment journey, a Steady income only makes it more easy and to be more consistent.

What did you mean by starting our investment with funds from gifts and so many other ways?  You are making this look as though the gift will be coming everytime it is something that comes once a while sometimes you may not even get a gift for one year so waiting to start your investment with funds from gifts will make you look like unserious person because a serous investor will struggle to get a source of income so as to enable them carry out their investment plans, I'm not saying that it is a bad thing to invest with funds from gifts rather we shouldn't wait to start our investment with funds from gifts.

[Abbatty]

Finance is what we actually need to buy out you can start your investment with funds from gifts and so many other ways.

Financial balance only makes it more easy, it makes you more consistent and give your holdings protection. A person will a consistent income can easily protect his holding by making provisions for emergency funds and reserve funds.

So yes we need finance to buy our bitcoin, or even begin our investment journey, a Steady income only makes it more easy and to be more consistent.

What did you mean by starting our investment with funds from gifts and so many other ways?  You are making this look as though the gift will be coming everytime it is something that comes once a while sometimes you may not even get a gift for one year so waiting to start your investment with funds from gifts will make you look like unserious person because a serous investor will struggle to get a source of income so as to enable them carry out their investment plans, I'm not saying that it is a bad thing to invest with funds from gifts rather we shouldn't wait to start our investment with funds from gifts.

I don’t know if you are new to this thread but it have been said severally that bitcoin investment can start from gifts from loved ones, gambling or even money won from Lotto. You don’t really have to have a job to begin your Bitcoin journey, the wait will only delay your investment journey. I know gifts can’t be gotten everytime but at least any time we receive gifts in foam of money we can get discretionary income from it and we can begin our bitcoin journey.

Don’t get it wrong, it is preferably to have a consistent paying job but don’t let it be a Barrier between you and kick starting your bitcoin journey. So mate, yes we can start out bitcoin journey from gift so long we can get discretionary income from it.

[Joeboy]

Finance is what we actually need to buy out investment, but having a steady finance is very good to begin but it shouldn’t stop you from investing. Sometimes people tend to mistake finance with steady finance. You can begin your investment even without having a steady income, you can start your investment with funds from gifts and so many other ways.

Financial balance only makes it more easy, it makes you more consistent and give your holdings protection. A person will a consistent income can easily protect his holding by making provisions for emergency funds and reserve funds.

So yes we need finance to buy our bitcoin, or even begin our investment journey, a Steady income only makes it more easy and to be more consistent.

I think it will be better you specify it as discretionary income so as not to end up confusing the new folks.. Finance could mean our whole salary or even the money needed for our basic needs and responsibility...But when you specify it as discretionary income, it tend to become more clearer that you are talking about the money which is left after our basic needs and responsibility has been duely sorted out...
Also it is not every funds from gift that you receive that should be invested into Bitcoin right away. Before making any investment, the investor has to assess himself to determine if that money is that which where can leave committed to Bitcoin for a long term duration...And if it is, then they could very well go ahead..But if it isn't, then it is best that the money isn't even invested in the first place.

[NewRevelation]

However you feel comfortable with doing them at the same time is good for people who feel comfortable doing that. I don’t think there is any reason why I should be in a haste to start having an emergency funds when I’m just getting started with bitcoin, while I can build up my emergency funds along the line when I have gotten to a certain period of time frame which I can start building my emergency funds, people who are low income earners can still buy and accumulate bitcoin small small and still be building up their emergency funds little by little.

You seem to recognize that there is importance in building up back up funds, but for some reason you seem to think that you can delay in such action to start building back up funds.

Having such thoughts is going to put his investment in trouble and at risk. Emergency funds and/or back up funds cannot or should not be delayed for any reason at all. It is built simultaneously, and any attempt to gamble with it in terms of when you begin setting it up is equally giving your portfolio away for vulnerability. Emergencies are always unexpected, and so, we must prepare for it always because it can even happen as soon as you start investing.

In short, there is no such thing as investing in Bitcoin with any fund. The real thing is that Bitcoin should be invested using such money that even if the money is unused for a long time, the investor will not have any problem, that is, a reasonable income should be used for investment.

The right money to be used for your investment is called 'Discretionary income', the money left after handling basic necessities, yea. And makes it easy for the investor to buy with peace and without panic since he has handled his basic needs first.

And for your last statement, what do you refer to as a reasonable income? Maybe you mean enough amount of money, or the person should be earning enough income? You don't need all that to begin your investment. All you need is the ability to figure it your Discretionary income. And if you have figured it out, then you can begin your investment.

Low income Earners may face some challenges of consistently figuring out a Discretionary for there investments due to poor income availability, but that isn't a barrier for them to totally stay out. Once they have a Discretionary, they can always buy Bitcoin as they can afford using the DCA strategy

[Alonso_]

You seem to recognize that there is importance in building up back up funds, but for some reason you seem to think that you can delay in such action to start building back up funds.

I guess I’m quite confused at this points, I’m wondering if I have to start building my backup funds immediately as I start investing in Bitcoin as a beginner, getting started with my bitcoin investments is very important, but if I don’t have enough discretionary income to start building a backup funds while I’m still starting my investments in bitcoin, I know it’s not necessary to have a backup funds while starting with my investing in bitcoin, but do I have to start building my backup funds as soon as I get started, Is it mandatory to start building a backup funds immediately as I get started, from what I have previously learnt from you on this thread I’m made to understand that we are meant to start building our backup funds when we’re 3 months into our bitcoin investment, I’m just wondering if there have been any changes to that strategy.

I don’t know how much delay is necessary, but 3 months into my bitcoin investment isn’t so horrible.

Since I’m not a big income earner, I have been buying bitcoin little by little as much as my discretionary income can afford, but I haven’t neglected the fact that I have to increase my cashflow so I can possibly increase my discretionary income as well, this was how I was able to start building my backup funds, it was 3 months into my Bitcoin investment, however I didn’t start building my backup funds immediately as I started buying bitcoin.

[Powerjumboo]

I think you are the one mixing things up here. Discretionary income is money left after you have settled  all essential expenses, but that doesn't mean you must finish building a full emergency fund before you can invest. These are two different things. You can divide your leftover money between investing some into bitcoin, building an emergency fund and backup funds all at same time.

Building emergency funds, back funds etc at same time is a matter of capacity because it takes a tight and a good source of income to build these at this same time, there are people who has the financial strength to do this and it is encourage for these kind of folks but as for those who don't have the financial strength or capacity to build these funds at same time, it will be wise they start accumulating their Bitcoin little by little and later start building up these other funds because it is not a must to build all at same time.

Even if the source of income is low, you can definitely invest, but you must be frugal for this because there are many people whose source of income is very low, but because they are frugal, they can save some of their income and with that savings, they can buy and deposit Bitcoin little by little. But if they are not frugal, they will never be able to deposit Bitcoin because they will use their low salary for various useless things, so they will not be able to invest. That is why I say that it is necessary to be frugal instead of worrying about a low-paying job. I think that even if it is a low-paying job, by being frugal, they will be able to invest and make their future bright.

[Agbam]

You seem to recognize that there is importance in building up back up funds, but for some reason you seem to think that you can delay in such action to start building back up funds.

I guess I’m quite confused at this points, I’m wondering if I have to start building my backup funds immediately as I start investing in Bitcoin as a beginner, getting started with my bitcoin investments is very important, but if I don’t have enough discretionary income to start building a backup funds while I’m still starting my investments in bitcoin, I know it’s not necessary to have a backup funds while starting with my investing in bitcoin, but do I have to start building my backup funds as soon as I get started, Is it mandatory to start building a backup funds immediately as I get started, from what I have previously learnt from you on this thread I’m made to understand that we are meant to start building our backup funds when we’re 3 months into our bitcoin investment, I’m just wondering if there have been any changes to that strategy.

I don’t know how much delay is necessary, but 3 months into my bitcoin investment isn’t so horrible.

Since I’m not a big income earner, I have been buying bitcoin little by little as much as my discretionary income can afford, but I haven’t neglected the fact that I have to increase my cashflow so I can possibly increase my discretionary income as well, this was how I was able to start building my backup funds, it was 3 months into my Bitcoin investment, however I didn’t start building my backup funds immediately as I started buying bitcoin.

No no my friend, I think you’ve gotten it all wrong.  Backup funds is important and necessary even as you’re starting your investment. It is mandatory you start investing with some kind of backup funds that’s why it’s important you invest with your discretionary income because it gives you the flexibility to build both your investment and your backups simultaneously.

The statement about waiting 3 months into your investment is totally wrong and inaccurate. I don’t think JJG has ever mentioned that; what I know is to build our emergency funds to cover for 3 months of our basic expenses.
The aim is to have financial safety net to cover expenses in cases of unexpected situations, it doesn’t matter the size or stage of your investment.

You may have been very lucky if you started your investment without any form of backup and you were able to sustain your investments until after 3 months before you started building your backup funds. Most people aren’t that lucky, so it’s better to do it the right way.