JJG’s Outline of Bitcoin Investment Ideas

[NewRevelation]

We must have some kind of emergency fund before starting to invest, even if we later buy Bitcoin only with our discretionary income. Therefore, having an emergency fund is something that everyone who starts investing should have.

You must NOT have any emergency funds first before starting. What is needed to start immediately if figuring out your discretionary income, and with it you can start your investment. As for your emergency funds, you can also start building it gradually as you have started buying Bitcoin. You don't wait to to have emergency funds first, this is because building an emergency funds does not just take a day or 2-3 weeks. You need sometime to do so. Therefore, while you are building it up, you can as well be buying simultaneously.

with the reason being that the emergency fund is an additional fund for us to invest in Bitcoin, especially if the portfolio we are building looks good in performance, so the use of the emergency fund is to purchase Bitcoin to increase the amount of our investment because with discretionary income alone, it looks like it is starting to improve, so it needs to be added to be able to have more assets in the future.

Emergency funds used to buy Bitcoin? How and why? This is so insane.

If you do that, just know that your accumulated portfolio as at great risk of been sold out unplanned and even at loss, because when emergencies show up, you would have nothing to tackle it.

Like the name implies, emergency funds, only meant for emergencies, not for buying Bitcoin. As you are investing into Bitcoin, your emergency funds should always be readily available and accessible so that when unexpected financial demands arises, you can use it to handle the emergency. You don't buy Bitcoin with your emergency funds pls.

[Primark]

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 agree that planning on gifts as a substitute for regular income is not right. I want to show you a difference, making the first purchase with a gift in hand and waiting for gifts to come in the future are different things. @Abbatty basically said the opportunity of the first in his statement, he did not promise that the gifts will come repeatedly.

Imagine, the money for my first Bitcoin purchase came from a gift. Just because I started with a gift, does my plan become insignificant? If I can afford to keep some of that money for a long time after considering all the necessary expenses and liabilities, then anyone can start without hesitation. But since no one knows when the next gift will be received, one should not plan to buy the same amount every week with that money. The ability to regularly give new money will not be created with the first purchase, but if the person gets new discretionary income later, he can buy again. Even if he does not get discretionary income, he can focus on increasing his income and reducing expenses while keeping the previously purchased Bitcoin.

[Female King]

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.

Don't you think you are missing the point here? I know that having back up funds is very important when investing in bitcoin but that doesn't mean an investor must have e everything in place before they can start investing in bitcoin, the reason why we are to use our discretionary income is that it gives the room to build your investment gradually while you set aside money for your back up and also other necessary funds like the emergency funds from your discretionary income as you continue to buy bitcoin.

The main ability to start Bitcoin investment is to have  discretionary fund . And  if there is any  income source that is generating regular discretionary income from that fund we can buy bitcion regularly too by following dca method. . Bitcoin can brought  from that discretionary fund  and backup funds like emergency fund and reserve fund can also build buy discretionary income . Now before investing a perfect back up fund is not mandatory. If @Agbam means that there must be a mandatory backup before investing then  i will now agree with him.  Even if a newbie does not have a 3 to 6 months emergency fund , he can start with a small amount in Bitcoin. If we  say a newbie to complete all kind of financial preparations first then investing bitcion will be delayed. And backup fund does not mean that you have to keep a separate fund before starting Bitcoin. Specific fund, normal savings or fiat currency in the locker of the room can also work as a backup. So an investor actually  is not starting with zero backup at all.

The most balanced  concept is that just  suppose someone has $300 discretionary money after accounting for expenses. He doesn't need to put all of the $300 into an emergency fund for the first few months, and it may not be also logical to put all of the $300 into Bitcoin. He may give some to Bitcoin and some to backups based on his own circumstances. The ratio is not fixed as you know income stability, existing savings and expense are not the same for everyone. So I think @Female King statement is more logical.

I see you understood more of what i was talking about these two guys BluebloodCXVI and cyberninja2 were just talking trash, how can it be mandatory to have some back up funds before you can start investing in bitcoin, i wasn't saying we don't need back up but to get started we do but it shouldn't be mandatory what should be mandatory at first should be our discretionary income that we can use to buy bitcoin, then anyone who knows they have the capacity to put everything in place before getting started can do so, but in a situation where you can't put everything in place and you were able to figure out that you have some little discretionary income left behind i think it's better to start with it instead of waiting to have everything in place.

[Grease5000]

Because having an emergency fund allows us to invest with discretionary income, it provides a little protection when situations arise that require us to use the emergency fund, with the reason being that the emergency fund is an additional fund for us to invest in Bitcoin, especially if the portfolio we are building looks good in performance, so the use of the emergency fund is to purchase Bitcoin to increase the amount of our investment because with discretionary income alone, it looks like it is starting to improve, so it needs to be added to be able to have more assets in the future.

I think you are mixing things up here, maybe you don't know what an emergency fund is use for or the reason why investors preach about emergency fund.

An emergency fund is meant for unexpected expenses and not for buying more bitcoin because your portfolio is performing well. If an investor use his emergency fund to buy bitcoin that defeats the whole purpose of having one. As an investor if you have $200 left as your discretionary income after settling all essential needs, you can devide it into three places let say 50, 30, 20 or 40, 35, 25 depending  on which suits your style , you can use $50 to invest in bitcoin, $30 in building an emergency fund and 20 to build some financial cushion.

Yo can  increase your bitcoin holdings,  by increasing your discretionary income  by get a better paying work or by cutting down some unnecessary spending.  You don't put your financial safety at risk by using  emergency fund meant for emergency situation to buy bitcoin just because you want to accumulate more bitcoin.

[Brizi5000]

...

Don't you think you are missing the point here? I know that having back up funds is very important when investing in bitcoin but that doesn't mean an investor must have e everything in place before they can start investing in bitcoin, the reason why we are to use our discretionary income is that it gives the room to build your investment gradually while you set aside money for your back up and also other necessary funds like the emergency funds from your discretionary income as you continue to buy bitcoin.

Everyone needs an emergency fund when they want to invest, and we personally do the same. We must have some kind of emergency fund before starting to invest, even if we later buy Bitcoin only with our discretionary income. Therefore, having an emergency fund is something that everyone who starts investing should have.

Because having an emergency fund allows us to invest with discretionary income, it provides a little protection when situations arise that require us to use the emergency fund, with the reason being that the emergency fund is an additional fund for us to invest in Bitcoin, especially if the portfolio we are building looks good in performance, so the use of the emergency fund is to purchase Bitcoin to increase the amount of our investment because with discretionary income alone, it looks like it is starting to improve, so it needs to be added to be able to have more assets in the future.

Don’t mislead newbies that they must have an emergency funds before they can start bitcoin investment. Is not a must that they will first have an emergency funds before they can start investing in bitcoin, what is only required to start is just a discretionary income so they don’t need to delay their start up simply because of no emergency funds available, if they have discretionary income then they should start buying bitcoin and along the line build their emergency funds. And also, the emergency funds is not what they should use in buying bitcoin, what should be used always is the discretionary income. Emergency funds is strictly to sort real life emergency situations like accidents, illness, loss of jobs or property, natural disasters etc. Emergency can happen anytime and if you used your emergency funds to buy bitcoin you’ll be rendered helpless and you will go back to sell your bitcoin investment cheaply when is not yet due.

[Chinesebaby]

with the reason being that the emergency fund is an additional fund for us to invest in Bitcoin, especially if the portfolio we are building looks good in performance, so the use of the emergency fund is to purchase Bitcoin to increase the amount of our investment because with discretionary income alone, it looks like it is starting to improve, so it needs to be added to be able to have more assets in the future.

Emergency funds are never an additional fund for us to invest with, but they are rather funds kept to be used for emergency purposes, just like in a situation of an accident or death of a family member, whereby urgent money is needed for that purpose. And these are all funds that can only be gotten from our discretionary income. Because the moment you start using an emergency funds for investment, then it simply means that such investment will always be a tool for solving emergency situations, simply because you had used your emergency fund in it. which is not supposed to be like that, since both were meant to be independent of its own.

[Itz-prisigold]

Everyone needs an emergency fund when they want to invest, and we personally do the same. We must have some kind of emergency fund before starting to invest, even if we later buy Bitcoin only with our discretionary income. Therefore, having an emergency fund is something that everyone who starts investing should have.

I agree that it is important to have backup funds, but I don't believe it's really a must for someone to have the entire emergency fund before he or she can start investing in Bitcoin.  Both of these can be accomplished at the same time, depending on the discretionary income the person have and their financial situation.

So for instance, an investor might dedicate a portion of their discretionary income to Bitcoin and slowly increase their backup money with a different portion.  The key is just to know the balance between both, without putting yourself under unnecessary financial pressure.

[sotelorene]

I see you understood more of what i was talking about these two guys BluebloodCXVI and cyberninja2 were just talking trash, how can it be mandatory to have some back up funds before you can start investing in bitcoin, i wasn't saying we don't need back up but to get started we do but it shouldn't be mandatory what should be mandatory at first should be our discretionary income that we can use to buy bitcoin, then anyone who knows they have the capacity to put everything in place before getting started can do so, but in a situation where you can't put everything in place and you were able to figure out that you have some little discretionary income left behind i think it's better to start with it instead of waiting to have everything in place.

I think it is very rare and somehow not possible or easy for someone to get everything they needed to start their Bitcoin investment before they start I mean I have not seen that in my life and I agree that it won't be necessary for someone to have everything before they start their Bitcoin investment since those things can be gotten later and again while you are waiting to do that there are other things that can eventually happen and still ulter your plan and trust me there are some things you can not afford not to respond or take care of

[Odohu]

I see you understood more of what i was talking about these two guys BluebloodCXVI and cyberninja2 were just talking trash, how can it be mandatory to have some back up funds before you can start investing in bitcoin, i wasn't saying we don't need back up but to get started we do but it shouldn't be mandatory what should be mandatory at first should be our discretionary income that we can use to buy bitcoin, then anyone who knows they have the capacity to put everything in place before getting started can do so, but in a situation where you can't put everything in place and you were able to figure out that you have some little discretionary income left behind i think it's better to start with it instead of waiting to have everything in place.

I think it is very rare and somehow not possible or easy for someone to get everything they needed to start their Bitcoin investment before they start I mean I have not seen that in my life and I agree that it won't be necessary for someone to have everything before they start their Bitcoin investment since those things can be gotten later and again while you are waiting to do that there are other things that can eventually happen and still ulter your plan and trust me there are some things you can not afford not to respond or take care of

Starting investment in Bitcoin is not that complicated that someone cannot get everything needed from the onset, we don't have to make it look so hard for people to get started. Whenever a user have the money to buy his Bitcoin, he is already armed with what he needs to start and mind you, starting may be different for different for everybody but what is most important is to get started. An investor simply need the capital to get started and every other thing will fall in place in a matter of time.

Most of us started buying in ways we never knew were risky, but today we have learnt the right way to go about it. I remember protecting my Luno password as if I was protecting my life without even knowing that Luno is not a safe place to keep my Bitcoin. But those were the early days and the experience still feel amazing even though I have now learnt the importance of self-custody and other security measures. Let us make starting easy for people so that they will have the courage and motivation to get started.

[Ashawowo(OS)]

We must have some kind of emergency fund before starting to invest, even if we later buy Bitcoin only with our discretionary income. Therefore, having an emergency fund is something that everyone who starts investing should have.

You must NOT have any emergency funds first before starting. What is needed to start immediately if figuring out your discretionary income, and with it you can start your investment. As for your emergency funds, you can also start building it gradually as you have started buying Bitcoin. You don't wait to to have emergency funds first, this is because building an emergency funds does not just take a day or 2-3 weeks. You need sometime to do so. Therefore, while you are building it up, you can as well be buying simultaneously.

It is not necessary to have them before starting, but you should make it a point of duty to build it alongside your buying and holding bitcoin so that you don't expose your portfolio to being tampered when you hit an emergency. Emergency fund is as necessary as the bitcoin portfolio you're building since it protects your portfolio from being tampered.

It is more advisable to buy bitcoin first and build emergency fund alongside your periodic buys so that you don't get lost in building emergency fund and forget how important it is that you get started buying bitcoin. There is no need to first start stacking cash as emergency funds when there is no bitcoin portfolio that it would protect, the stacked cash would still depreciate and it would have been better you put some of that cash in buying and holding bitcoin.

[Sobz]

~snip~

Emergency funds are never an additional fund for us to invest with, but they are rather funds kept to be used for emergency purposes, just like in a situation of an accident or death of a family member, whereby urgent money is needed for that purpose. And these are all funds that can only be gotten from our discretionary income. Because the moment you start using an emergency funds for investment, then it simply means that such investment will always be a tool for solving emergency situations, simply because you had used your emergency fund in it. which is not supposed to be like that, since both were meant to be independent of its own.

When emergency fund is involve in investing, their is high tendency the investment can touch at any giving time. Investment people use their emergency fund to invest is no longer a long term investment.  Emergency happens to everyone , just that you cant really tell when and how. For some people they feel very comfortable which they they think they dont need an emergency but anything can happen,  you cant tell what will happen in the next minute that requires an emergency fund and when it is not there the only option one has is to go after their investment to solve their emergency because it cant be left unsolved.

[Rabata]

...

Don't you think you are missing the point here? I know that having back up funds is very important when investing in bitcoin but that doesn't mean an investor must have e everything in place before they can start investing in bitcoin, the reason why we are to use our discretionary income is that it gives the room to build your investment gradually while you set aside money for your back up and also other necessary funds like the emergency funds from your discretionary income as you continue to buy bitcoin.

Everyone needs an emergency fund when they want to invest, and we personally do the same. We must have some kind of emergency fund before starting to invest, even if we later buy Bitcoin only with our discretionary income. Therefore, having an emergency fund is something that everyone who starts investing should have.

Because having an emergency fund allows us to invest with discretionary income, it provides a little protection when situations arise that require us to use the emergency fund, with the reason being that the emergency fund is an additional fund for us to invest in Bitcoin, especially if the portfolio we are building looks good in performance, so the use of the emergency fund is to purchase Bitcoin to increase the amount of our investment because with discretionary income alone, it looks like it is starting to improve, so it needs to be added to be able to have more assets in the future.

You are probably overthinking something you don't have. An emergency fund protects you from being forced to sell your Bitcoin investments. But there should be no mandatory requirement that you first build an emergency fund and then invest. It's nothing more than an excuse not to start. It can usually take 1-2 years or more to build an emergency fund. Are you going to just wait and see if you can get through those 1-2 years? It seems like an unnecessary statement to me that making an emergency fund mandatory before you start. Some people may already have reserves, while others may not. That doesn't mean you have to build one first and then start investing.

To me, the realistic way is that if someone doesn't have an emergency fund and only has a small amount of discretionary income left after meeting all their essential expenses, they can focus on both their emergency fund and investments at the same time. I'm not going to mention any specific percentage here as to which part to give to emergency fund and which part to investments. You should understand this from your common sense and make a decision that is consistent with your financial situation.

[RockBell]

When emergency fund is involve in investing, their is high tendency the investment can touch at any giving time. Investment people use their emergency fund to invest is no longer a long term investment.  Emergency happens to everyone , just that you cant really tell when and how. For some people they feel very comfortable which they they think they dont need an emergency but anything can happen,  you cant tell what will happen in the next minute that requires an emergency fund and when it is not there the only option one has is to go after their investment to solve their emergency because it cant be left unsolved.

emergency is one thing that stands between you and selling, because most people would have been selling by now because when emergency arises, then when it comes to that then you will end up selling because that is the only way you can address an emergency when you have emergency funds, and that is why everyone will tell beginners to make sure to put emergency funds in their plans.

And these are things that make investors different because when you have what it takes, then emergencies should not be a problem. One way or the other, an emergency will come, and we need to be ready when it comes, and the only way it can be addressed is when we have our emergency funds.

[yixichloro2xx]

~snip~

Emergency funds are never an additional fund for us to invest with, but they are rather funds kept to be used for emergency purposes, just like in a situation of an accident or death of a family member, whereby urgent money is needed for that purpose. And these are all funds that can only be gotten from our discretionary income. Because the moment you start using an emergency funds for investment, then it simply means that such investment will always be a tool for solving emergency situations, simply because you had used your emergency fund in it. which is not supposed to be like that, since both were meant to be independent of its own.

When emergency fund is involve in investing, their is high tendency the investment can touch at any giving time. Investment people use their emergency fund to invest is no longer a long term investment.  Emergency happens to everyone , just that you cant really tell when and how. For some people they feel very comfortable which they they think they dont need an emergency but anything can happen,  you cant tell what will happen in the next minute that requires an emergency fund and when it is not there the only option one has is to go after their investment to solve their emergency because it cant be left unsolved.

This is why they say prevention is better than cure. As an investor you should always have a backup funds regardless of how sweet your current living conditions are, because it can suddenly turn bitter if care isn't taken.  Ignorance is reason why some investors don't usually have an emergency funds, whereby they feel it's just a waste of time. So they either spend the money on meaningless stuff or buy more Bitcoin with the funds. This is just the results of lack of financial knowledge and planning... A sensible investors will always thinking about future which can be both the good and bad period and necessary steps to curb them example is the emergency funds.  

When an investment failed and thr investor ends up losing their money, they will quickly put the blame on the market that it wasn't favorable, whereas the real reason for their loss may be their own poor decisions and lack of proper planning.

[samadam007]

To me, the realistic way is that if someone doesn't have an emergency fund and only has a small amount of discretionary income left after meeting all their essential expenses, they can focus on both their emergency fund and investments at the same time. I'm not going to mention any specific percentage here as to which part to give to emergency fund and which part to investments. You should understand this from your common sense and make a decision that is consistent with your financial situation.

I don’t know your amount definition of “small” in this context. What I know is that if a person discretionary income is too small to divide between buying bitcoin and building backup funds, then the focus shouldn't be on investing that moment, but ways to increase his income or cut off unnecessary expenses so that the discretionary income becomes reasonable to do their normal splitting.

[Tank67]

with the reason being that the emergency fund is an additional fund for us to invest in Bitcoin, especially if the portfolio we are building looks good in performance, so the use of the emergency fund is to purchase Bitcoin to increase the amount of our investment because with discretionary income alone, it looks like it is starting to improve, so it needs to be added to be able to have more assets in the future.

Emergency funds are never an additional fund for us to invest with, but they are rather funds kept to be used for emergency purposes, just like in a situation of an accident or death of a family member, whereby urgent money is needed for that purpose. And these are all funds that can only be gotten from our discretionary income. Because the moment you start using an emergency funds for investment, then it simply means that such investment will always be a tool for solving emergency situations, simply because you had used your emergency fund in it. which is not supposed to be like that, since both were meant to be independent of its own.

The emergency funds and the investment funds need to be separated from emergency funds because you can actually spend emergency funds because they are meant to be spent when it is necessary, but you can not spend your emergency funds.  And when you know that you want to invest, that is one thing in the first place, you need to have emergency funds. That is how important it is, so we need to know that you need to have, like, a plan before you start investing because, if you are to get this thing right, then it becomes very easy.

[ChocolateBitcoinK]

~snip~

Emergency funds are never an additional fund for us to invest with, but they are rather funds kept to be used for emergency purposes, just like in a situation of an accident or death of a family member, whereby urgent money is needed for that purpose. And these are all funds that can only be gotten from our discretionary income. Because the moment you start using an emergency funds for investment, then it simply means that such investment will always be a tool for solving emergency situations, simply because you had used your emergency fund in it. which is not supposed to be like that, since both were meant to be independent of its own.

When emergency fund is involve in investing, their is high tendency the investment can touch at any giving time. Investment people use their emergency fund to invest is no longer a long term investment.  Emergency happens to everyone , just that you cant really tell when and how. For some people they feel very comfortable which they they think they dont need an emergency but anything can happen,  you cant tell what will happen in the next minute that requires an emergency fund and when it is not there the only option one has is to go after their investment to solve their emergency because it cant be left unsolved.

Emergency funds must be kept separate, it is designed to protect the investment, but when you turn emergency funds into investments, who will protect your investment when needed? You must sell your investment to meet your needs, and due to volatility, it is not uncommon for the price to be low at that time, but then you will have to sell it forcibly, which will cause you a loss due to volatility. Such a thing cannot be done in any way, many people think that no emergency situation will come in front of them, but does an emergency situation come with a message in advance? There is no way to say when it will come and how it will come, and it is necessary to create an emergency fund for this unexpected situation, and it must be created in a way that is easily accessible. Emergency funds cannot be converted into any volatile investment, you can buy gold with emergency funds and keep if, because it is relatively stable, but if you think about Bitcoin, this would be a big mistake, because its price will be completely unpredictable and fluctuate every moment.

[Finebone]

The emergency funds and the investment funds need to be separated from emergency funds because you can actually spend emergency funds because they are meant to be spent when it is necessary, but you can not spend your emergency funds.  And when you know that you want to invest, that is one thing in the first place, you need to have emergency funds. That is how important it is, so we need to know that you need to have, like, a plan before you start investing because, if you are to get this thing right, then it becomes very easy

This is the true definition of shit posting 
And I wonder where you got what you are actually saying from. You should be reading more and learning instead of trying to lecture us with this kind of post, because you have successfully made me laugh hard with your write up here.

But to be serious, I want you to know that emergency funds should never be invested in Bitcoin just because their is no pressing emergency situation at hand that moment, because by doing that, you are gambling with your entire Bitcoin portfolio, and you may be forced to sell if emergency comes up that moment, so that is an act we should never consider.

And finally, emergency funds should only be spent on emergencies that threatens your holdings, so try to know the essence of having an emergency funds, which is to protect our Bitcoin investment , not spent on anything else.

[Alonso_]

Everyone needs an emergency fund when they want to invest, and we personally do the same. We must have some kind of emergency fund before starting to invest, even if we later buy Bitcoin only with our discretionary income. Therefore, having an emergency fund is something that everyone who starts investing should have.

I disagree with you completely for  saying it’s mandatory to have an emergency fund before you start investing in Bitcoin. I don’t disagree with you for saying everyone needs an emergency fund, that is true but saying we must have an emergency funds before we can start buying bitcoin is totally wrong and would be misleading for newbies who are here to learn and understand ways of having a successful investment.

Getting started is very important, which is why you need just a discretionary money to start buying and investing in bitcoin, emergency funds are important in the sense that we need emergency funds for unforeseen situations that we urgently need financial solutions.  

[Joy- maker]

I disagree with you completely for  saying it’s mandatory to have an emergency fund before you start investing in Bitcoin.

Having an emergency fund may not be mandatory before starting your bitcoin investment journey, but it is important to have one in order to protect yourself from unexpected expenses and avoid selling your Bitcoin at early stage of accumulation when you need urgent money for something very important. However, what is more important is getting started with you investment journey, emergency fund and the rest of them can come later.