JJG’s Outline of Bitcoin Investment Ideas

[Agbam]

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.

Which point am I missing please?
Or are you not reading and understanding what I wrote?
You ended up paraphrasing what I said with a small addition of your confusion.!

I never said one had to wait till they figure everything out, before they can start investing rather I’m stating the importance of starting with some form of backup or build it up as you start your investment.

[2Pizza410000BTC]

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.

In fact, when we talk, we say things that are not really reasonable. Here it is said that we should invest in Bitcoin with gift money. In fact, gift money is not our personal money. We should not think about who will give us gifts and who will not give us gifts. Now if I consider gift money for investment, it will never be reasonable because he promised to give you a gift and kept you waiting and he could not give you a gift. Then what will you do? Then you will have to sit like an unfortunate person, so it is not really right to consider gift money. What you said is absolutely right for this person that considering gift money means being considered an irresponsible person.

[Dxdiax26]

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.

No one dares say that having an emergency fund is a necessity for investing, but having one even if we don't use it immediately acts as a buffer to protect ourselves from those who do. Moreover, with the numerous expenses we incur for daily needs having an emergency fund means we don't need to sacrifice our existing Bitcoin to sell it just for the sake of it.

Because after accumulating, it is certainly difficult to sell especially with a very short time which makes us sometimes think that why accumulate if after accumulating we have to sell again and this is definitely a mistake done in such a way, so after an incident like this we just remember that investing by having an emergency fund certainly makes it easier for us when difficult situations come to us unexpectedly by those of us who invest in accumulating Bitcoin.

[Brizi5000]

Which point am I missing please?
Or are you not reading and understanding what I wrote?
You ended up paraphrasing what I said with a small addition of your confusion.!

I never said one had to wait till they figure everything out, before they can start investing rather I’m stating the importance of starting with some form of backup or build it up as you start your investment.

I support your stance here because starting bitcoin investment requires a discretionary income and if you don’t have back up funds you can still start but it is better to have and start up with a little back up funds than not having anyone at all. The reason is because investors don’t need to be left with an empty wallet after they have finished buying bitcoin, they need a little funds to use and back themselves up after buying bitcoin so that they will still have something they can hold on to pending when they are able to receive another income where they can also figure out a discretionary income to use again to buy bitcoin.

[Futurexxx]

In fact, when we talk, we say things that are not really reasonable. Here it is said that we should invest in Bitcoin with gift money. In fact, gift money is not our personal money. We should not think about who will give us gifts and who will not give us gifts. Now if I consider gift money for investment, it will never be reasonable because he promised to give you a gift and kept you waiting and he could not give you a gift. Then what will you do? Then you will have to sit like an unfortunate person, so it is not really right to consider gift money.

With your write up here, it seems like your are totally lost, and you do not understand when someone says that he or she can invest with money that was gifted to him or her.

What do you understand that a gifted item is?
Because if you do, you wouldn't be saying all these. He is not talking about a promise made, or an unfulfilled promise, but a money that has already been given to him as a gift, so why can't he use it to invest if he has no other basic needs to attend to?
The earlier you understand that a gifted money can be used to invest, the better.

[Decimetre]

Which point am I missing please?
Or are you not reading and understanding what I wrote?
You ended up paraphrasing what I said with a small addition of your confusion.!

I never said one had to wait till they figure everything out, before they can start investing rather I’m stating the importance of starting with some form of backup or build it up as you start your investment.

I support your stance here because starting bitcoin investment requires a discretionary income and if you don’t have back up funds you can still start but it is better to have and start up with a little back up funds than not having anyone at all. The reason is because investors don’t need to be left with an empty wallet after they have finished buying bitcoin, they need a little funds to use and back themselves up after buying bitcoin so that they will still have something they can hold on to pending when they are able to receive another income where they can also figure out a discretionary income to use again to buy bitcoin.

Beginners must be careful not to misunderstand the reason and concept of back up funds and emergency funds. A person does not have to save backup funds first to some extent before buying his first bitcoin. This can be accumulated in the process of buying bitcoin simultaneously by separating your Discretionary funds accordingly thus; money for emergency, money for back up, money for investment. This will give you the opportunity to buy bitcoin instead of delaying to gather back up funds.

You can buy a very small amount of bitcoin initially and channel more funds to your backup and emergency funds at the initial time and as the time goes, you then start increasing your investments and gradually reducing the amount you save for backup and emergency funds depending on the size of your emergency funds and backup funds.

[Sammysmart001]

You can buy a very small amount of bitcoin initially and channel more funds to your backup and emergency funds at the initial time

This is basically a practical way to start up, this because it not everyone that has the money to build their backup funds easily/quickly. You can just start with a little Bitcoin purchase then putting more money aside for your emergency that might show case. As time goes your backup funds starts to grow, you can then review how much you put into Bitcoin.

And also I will want us to remember this. The amount that will be going to Bitcoin should depend on your financial situation. Not to go have a fix rule, so to avoid if an unexpected expense should come up you won’t be forced to go sell out your coin just to solve that emergency.

[Obulis]

You literally mixing things up here, the definition of  discretionary income with that of a budgeting strategy. By the definition in finance, discretionary income is the money that is left after all your basic necessities, living costs, and short term obligations ( including emergency savings) are taken care of.  Read more : https://www.investopedia.com/terms/d/discretionaryincome.asp

In the aspect we’re you are taking money out of your discretionary income to build up your emergency fund than that money was never a discretionary in the first place. It was essential financial obligation.

For your 3 part split strategy, it fine to allocate leftover cash. But calling money discretionary before your emergency cushion is built that really dangerous. Once a real life emergency happens and you haven’t built up your cash fund yet, you are going to be forced to dump your Bitcoin at a loss to pay for it. A safety net first then a true discretionary stacking.

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.

Before even thinking of having emergency funds first before investing, the question to ask oneself is "how much emergency funds is enough?", answering that question honestly, will reveal to anyone that keeping emergency funds first before starting Bitcoin investment is not a requirement and not necessary since it can keep happening while you keep buying 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.

Which point am I missing please?
Or are you not reading and understanding what I wrote?
You ended up paraphrasing what I said with a small addition of your confusion.!

I never said one had to wait till they figure everything out, before they can start investing rather I’m stating the importance of starting with some form of backup or build it up as you start your investment.

The part you are missing is the area you said that it is mandatory to have some back up funds before one can start investing in bitcoin maybe i didn't get you meant by that well, back up funds should include emergency funds it's important having an emergency funds i was only saying even if an investor never have some emergency funds initially that they can still get started with their bitcoin investment investment provided that they have some discretionary income to get started with them other back up funds can be sorted out along the investment process.

[Primark]

You literally mixing things up here, the definition of  discretionary income with that of a budgeting strategy. By the definition in finance, discretionary income is the money that is left after all your basic necessities, living costs, and short term obligations ( including emergency savings) are taken care of.  Read more : https://www.investopedia.com/terms/d/discretionaryincome.asp

In the aspect we’re you are taking money out of your discretionary income to build up your emergency fund than that money was never a discretionary in the first place. It was essential financial obligation.

For your 3 part split strategy, it fine to allocate leftover cash. But calling money discretionary before your emergency cushion is built that really dangerous. Once a real life emergency happens and you haven’t built up your cash fund yet, you are going to be forced to dump your Bitcoin at a loss to pay for it. A safety net first then a true discretionary stacking.

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.

Before even thinking of having emergency funds first before investing, the question to ask oneself is "how much emergency funds is enough?", answering that question honestly, will reveal to anyone that keeping emergency funds first before starting Bitcoin investment is not a requirement and not necessary since it can keep happening while you keep buying Bitcoin.

The question of how much of an emergency fund is sufficient must be considered. Because not everyone has the same income, expenses, family responsibilities, and risks. But because of this question, it would not be right to consider an emergency fund less important. An emergency fund is not a barrier to buying Bitcoin, but rather a protection to hold on to after buying. Someone who does not have an emergency fund but has a small amount of discretionary income can start investing with discretionary income at the same time and can also build an emergency fund gradually. The problem is when someone puts all their money into Bitcoin in the hope of quick profits and later has to sell Bitcoin at a low price during medical treatment, job loss, family problems, or other urgent expenses.

[Rockson1]

Before even thinking of having emergency funds first before investing, the question to ask oneself is "how much emergency funds is enough?", answering that question honestly, will reveal to anyone that keeping emergency funds first before starting Bitcoin investment is not a requirement and not necessary since it can keep happening while you keep buying Bitcoin.

This particular discussion has been here for awhile and will continue to be cause some people still misunderstand the whole thing, instead of creating emergency funds first as some people thinks that it should be, wouldn't it be better for such persons to invest along with creating emergency funds, in my opinion, I think it is far better for us to apply wisdom in doing things, the importance of emergency funds can not be overlooked, I think those that are reasoning this way, should first consider what if they do not invest after creating emergency funds first, from what I know, discreationary income first, then emergency funds.

[JoyceBTC]

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.

Yes your idea is understandable now and which the most important here is using some part of it as our discretionary funds to invest but another thing here is that getting a discretionary fund from gifts are not guaranteed. This is so because, the money gotten from gifts may be used to settle necessities and pending things needed for that instant and after that you might be left with no money for discretionary funds or just funds for any emergency expenses since you might not have a steady income at the moment. The most important thing is to be able to invest when we are comfortable doing it without pressure and without causing ourselves any discomfort being in a tight situation all because we don’t want to delay in our investment.

[Sim_card]

This can be accumulated in the process of buying bitcoin simultaneously by separating your Discretionary funds accordingly thus; money for emergency, money for back up, money for investment.

You forget about your discretionary consumption which should also be considered when dividing your discretionary income because you don't need to deprive yourself from your wants. However, if I  am going to share my discretionary income into three equal parts, it will be 1/3 for my weekly DCA, 1/3 for building my emergency funds and the last 1/3 for my discretionary consumption.

You can buy a very small amount of bitcoin initially and channel more funds to your backup and emergency funds at the initial time and as the time goes, you then start increasing your investments and gradually reducing the amount you save for backup and emergency funds depending on the size of your emergency funds and backup funds.

Emergency funds is also your backup funds because the backup funds comprises of your emergency funds and reserve funds.

I support your stance here because starting bitcoin investment requires a discretionary income and if you don’t have back up funds you can still start but it is better to have and start up with a little back up funds than not having anyone at all. The reason is because investors don’t need to be left with an empty wallet after they have finished buying bitcoin, they need a little funds to use and back themselves up after buying bitcoin so that they will still have something they can hold on to pending when they are able to receive another income where they can also figure out a discretionary income to use again to buy bitcoin.

You don't need to kill yourself if you don't have any form of backup funds on ground before getting started and that's the main reason why you shouldn't delay and build your  emergency funds simultaneously with your bitcoin investment. You should know that you emergency funds is for a real life problem will play out during your bitcoin accumulation journey.

The money that you're talking about is float which is the funds that you set aside in case an expected expenses pops up during the period while you are waiting for your next pay. You should also have your discretionary consumption too. So, if you have float and discretionary consumption, you can settle this.

[cyberninja2]

---

You forget about your discretionary consumption which should also be considered when dividing your discretionary income because you don't need to deprive yourself from your wants. However, if I  am going to share my discretionary income into three equal parts, it will be 1/3 for my weekly DCA, 1/3 for building my emergency funds and the last 1/3 for my discretionary consumption.

This indicates that you are quite good at adjusting these three things to avoid serious problems. By doing as you stated, all desires and needs are well-maintained and there will be no disputes, whether for consumption needs, building an emergency fund, or investing weekly so that all our desires can be achieved according to their respective procedures.

But what you need to understand is that many people don't follow the ideas you've outlined in this topic, and then they always have disagreements, with problems that end up with one of these three things being left behind and not running according to their wishes. This is caused by the lack of knowledge they have about how to divide their income so that they always have a deadlock in doing things related to the topic we are discussing here.

[Showlove01]

Yes your idea is understandable now and which the most important here is using some part of it as our discretionary funds to invest but another thing here is that getting a discretionary fund from gifts are not guaranteed. This is so because, the money gotten from gifts may be used to settle necessities and pending things needed for that instant and after that you might be left with no money for discretionary funds or just funds for any emergency expenses since you might not have a steady income at the moment. The most important thing is to be able to invest when we are comfortable doing it without pressure and without causing ourselves any discomfort being in a tight situation all because we don’t want to delay in our investment.

Almost all the things you said here are ideal cases not actual/real because why would someone be thinking about gift they will give to them for bitcoin investment i mean what brought about gift into our bitcoin investment discussion here. however, not that we can not actually use gift given to us for our bitcoin but this should not be in our thought, we should focus on our source of income and how to sort out discretionary income from it, using gift for bitcoin investment should not be our discussion before some people will think it is a means of getting discretionary.

[BITBI-4]

Yes your idea is understandable now and which the most important here is using some part of it as our discretionary funds to invest but another thing here is that getting a discretionary fund from gifts are not guaranteed. This is so because, the money gotten from gifts may be used to settle necessities and pending things needed for that instant and after that you might be left with no money for discretionary funds or just funds for any emergency expenses since you might not have a steady income at the moment. The most important thing is to be able to invest when we are comfortable doing it without pressure and without causing ourselves any discomfort being in a tight situation all because we don’t want to delay in our investment.

Almost all the things you said here are ideal cases not actual/real because why would someone be thinking about gift they will give to them for bitcoin investment i mean what brought about gift into our bitcoin investment discussion here. however, not that we can not actually use gift given to us for our bitcoin but this should not be in our thought, we should focus on our source of income and how to sort out discretionary income from it, using gift for bitcoin investment should not be our discussion before some people will think it is a means of getting discretionary.

Bitcoin is not a lottery or a game of chance that must be bought with a gift from someone at the mercy of someone else. Our focus should be on a completely real and reliable source of income whether it’s a job or a business. What’s left over from your own hard earned income minus expenses is real discretionary income with which you can regularly deposit Bitcoin.

​Get rid of the unreliable or fantasy of gifts. Strengthen your income stream stack Bitcoin with your excess cash flow and hold it long term in 4 to 10+year cycles that’s the only realistic and effective way.

[Baki202]

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.

Which point am I missing please?
Or are you not reading and understanding what I wrote?
You ended up paraphrasing what I said with a small addition of your confusion.!

I never said one had to wait till they figure everything out, before they can start investing rather I’m stating the importance of starting with some form of backup or build it up as you start your investment.

The part you are missing is the area you said that it is mandatory to have some back up funds before one can start investing in bitcoin maybe i didn't get you meant by that well, back up funds should include emergency funds it's important having an emergency funds i was only saying even if an investor never have some emergency funds initially that they can still get started with their bitcoin investment investment provided that they have some discretionary income to get started with them other back up funds can be sorted out along the investment process.

I support the fact that you need to have emergency funds on standby because, even if you have discretionary income, I will still suggest you have emergency plans because that is the only way you will have your backup funds. Not just me, but every other investor will always suggest that you have emergency funds because, when you have that, it will only serve its purpose as an emergency fund, and it's not as if you can not start without emergency funds, but it is advised to have them.

It is more of an investment process that we need to take seriously because no investor will tell you about emergency funds, and that is why we need to be ready before you even start anything. It is always good for you to have emergency funds because this is a great step that good investors have taken, so it will be nice for us to also follow in their footsteps so that we don't end up not completing the journey we about or have started.

[Felicity_Tide]

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.
~snip
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.

The fact that unexpected expenses can actually occur at any given time, makes it very important for investors to have an emergency funds. Living without making plans for emergency funds, when you clearly know that days like that are inevitable, is literally not a smart move, because moments like that can force an investor to sell at a loss just to meet up for the mistakes that they failed to make plans for.

And one thing I believe a lot of investors have unfortunately failed to see beyond is how important financial planning is, especially when you truly want to make your investment effective. It's not always just about what you seek to benefit, but it's also about what you can put in place in order to achieve it.

[IceLincoln]

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.

Gifts can be a form of discretionary income but not always, someone can start their bitcoin investment with a gifted money but you can’t sustain it with hopes of getting future gifts, you can’t based your investment on that.
Some gifts may come to you at a  time you’re facing financial difficulties and may not even be enough to solve your problems, at such times there’s no discretionary income.
I would advise before investing in bitcoin, one has to assess themselves financially to know if their discretionary is enough to carry and sustain their investments comfortably without compromising basic needs or other financial obligations.
If you’re not able to consistently sort out your discretionary income without affecting your financial stability, it’s better to reconsider how much you invest. Sometimes what we may see as discretionary money may not be entirely free to commit for the long term.

[Jewan420]

The fact that unexpected expenses can actually occur at any given time, makes it very important for investors to have an emergency funds. Living without making plans for emergency funds, when you clearly know that days like that are inevitable, is literally not a smart move, because moments like that can force an investor to sell at a loss just to meet up for the mistakes that they failed to make plans for.

And one thing I believe a lot of investors have unfortunately failed to see beyond is how important financial planning is, especially when you truly want to make your investment effective. It's not always just about what you seek to benefit, but it's also about what you can put in place in order to achieve it.

For such unexpected events, it will not be enough for us to have an emergency fund ready, I think we need to have our entire backup fund ready. Most of the time, our emergency fund is on the list of priorities, this emergency fund should be our last hope in an emergency.

In an emergency, we can use other backup funds as emergency funds in the initial stage, and then when these funds are not enough, we can put our hands on the emergency fund as a last resort. Sometimes there are some emergency moments in our lives where an emergency fund alone cannot play a sufficient role, I often see such incidents in real life. I have also witnessed such incidents where the entire life savings are exhausted to get through an emergency moment.

Such incidents are very rare and if as a result of such an incident, you are forced to sell Bitcoin after all the backup funds are exhausted, it is not the fault of your plan, but the fault of your fate. However, I do not only keep an emergency fund ready for my danger, but other funds also act as emergency funds in times of danger. In normal times, we can use the funds for relevant purposes, but not for unnecessary expenses.