JJG’s Outline of Bitcoin Investment Ideas

[Perfect-World]

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.

We can't rely on gifts alone for our Bitcoin investments because it doesn't come always, yet, it doesn't mean we can't buy some Bitcoin with cash gifts when we get them. It's our own already, and if our basic needs are already take care of from our income and/or from the same cash gift and we still have some left overs, then we can still buy some Bitcoin with it, or perhaps, we can increase our DCAing amount.

Take for instance, a guy who works and earns money, and as usual, he received his income and handles his basic needs and getting his usual discretionary and then invests it into Bitcoin. And then, after that he gets some cash gift form someone or wins a lottery or something else that puts an extra income into his hands. Haven settled his basic needs previously and has bought some chunk of Bitcoin from his discretionary, what will he do with the cash gift? Is he soposed to use the money for personal enjoyments or just keep the money in fiat and leave it to inflation?
I think it is not bad if he decides to put some part of it into Bitcoin investment and even some into his back up funds if he is still building, and maybe some for discretionary consumption. So yea, cash gifts can be used to invest in Bitcoin given the present financial circumstances.

[Obulis]

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.

Monetary gifts are usually an unexpected/unplanned and unlaboured for money received that adds up to our earning for that time being. Somehow, at times/sometimes this money are usually always channeled into handling one specific issues and as a Bitcoin investor, this money can likewise be channeled as investment discretionary funds to buy Bitcoin. Not saying that that's what to do with monetary gifts but just pointed at some scenarios on how monetary gifts are usually handled.

Howbeit, when trying to finely manage and/or spend this money gift, using the percentage you use with your normal earning can just be a simple answer to this matter. If at the end of the month per say you normally spend about 65-70% of your earning and the remaining 30-35% are discretionary, applying this statistics to monetary gifts is a simple solution indeed.

[Lembo69]

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.

There is no problem if an investor does not keep an emergency fund at the beginning. However, if a good amount of BTC is accumulated, then it becomes necessary for him to create an emergency fund. Because an emergency situation can come at any time, so in an emergency situation and in order not to have to sell the investment in any way, it is necessary for an investor to keep an emergency fund. However, if someone thinks that he has to keep an emergency fund before investing, then he is wrong. Because first of all, you should come to investment and then think about the emergency fund.

If someone thinks that he may not have an emergency fund and he continues to deposit BTC. And if a good amount of BTC is deposited in his Bitcoin Wallet, then if he has an emergency situation, he may be forced to sell his investment. Therefore, an investor should keep a specific fund for an emergency fund.

Do you know that an emergency fund makes an investor's investment easier and plays a role in making his investment sustainable. If an investor has an emergency fund, he can easily face any danger, it does not affect his investment or his investment does not suffer any loss. Therefore, we all should keep some amount of money for emergency fund at a specific time. And move forward without hesitation for long-term investment goals.

[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.

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.

Okay again, we’re kinda like on the same page but the word Mandatory is the problem here. Yes I said mandatory because I believe it’s necessary to have some form of financial backup when investing.

Maybe using the word mandatory makes it sound like a strict rule but what I mean is that I consider it very essential to start with a form of backup even if it’s not fully established.

For example; at the initial beginner level you don’t have established backup but you have discretionary money. You can start investing maybe 20-50% of your discretionary and keeping the rest that could form your backup funds rather than investing maybe 50-80% of your discretionary income and may not be left with much.
However even the 50-80% is better than someone who invests 100% without any form of backup just because it’s discretionary money.

I prefer you start with a backup funds even if it’s small than without. The goal shouldn’t just be to start investing in bitcoin but to start in a way that’ll not leave you financially vulnerable.

[GhostOfBitcoin]

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.

Okay again, we’re kinda like on the same page but the word Mandatory is the problem here. Yes I said mandatory because I believe it’s necessary to have some form of financial backup when investing.

Maybe using the word mandatory makes it sound like a strict rule but what I mean is that I consider it very essential to start with a form of backup even if it’s not fully established.

For example; at the initial beginner level you don’t have established backup but you have discretionary money. You can start investing maybe 20-50% of your discretionary and keeping the rest that could form your backup funds rather than investing maybe 50-80% of your discretionary income and may not be left with much.
However even the 50-80% is better than someone who invests 100% without any form of backup just because it’s discretionary money.

I prefer you start with a backup funds even if it’s small than without. The goal shouldn’t just be to start investing in bitcoin but to start in a way that’ll not leave you financially vulnerable.

Yes, I get where you are coming from because my primary focus was to give advise how one can start investing without getting involved into unnecessary risks. But I mostly disagree with the term mandatory.

Everyone’s situation & investment strategies differ while it comes to crypto market. So what is mandatory for me may be different for someone else. For starters, making investments by putting some money at a time by dollar-cost averaging technique makes much more sense then keeping aside 50-80% of our investible capitals as a reserve just because we don’t want to lose anything.

But again, if we keep all of our funds in hand as a backup before investing into BITCOIN that would restrict us to explore & learn from the market. So it totally depends on individual’s Risk Tolerance level but keeping an amount as backup still plays significant role when we decide about investment in Bitcoin.

[Barikui1]

There is no problem if an investor does not keep an emergency fund at the beginning. However, if a good amount of BTC is accumulated, then it becomes necessary for him to create an emergency fund. Because an emergency situation can come at any time, so in an emergency situation and in order not to have to sell the investment in any way, it is necessary for an investor to keep an emergency fund. 

I agree with you that new Bitcoin investor do not need to have an emergency funds in place before starting his accumulation, but I disagree with your that he must first accumulate a good stash of it first before putting it down, because left for me, I think that once he made his first purchase, that's the moment he start putting it down alongside his accumulation, because emergency situation can come at anytime, so accumulating and making provisions for your emergency funds simultaneously is what we are adviced to do, not by first having a good stash of it first before putting down emergency funds as you are proclaiming.

[cyberninja2]

I agree with you that new Bitcoin investor do not need to have an emergency funds in place before starting his accumulation, but I disagree with your that he must first accumulate a good stash of it first before putting it down, because left for me, I think that once he made his first purchase, that's the moment he start putting it down alongside his accumulation, because emergency situation can come at anytime, so accumulating and making provisions for your emergency funds simultaneously is what we are adviced to do, not by first having a good stash of it first before putting down emergency funds as you are proclaiming.

But why do many still misunderstand the ideas we are discussing here? Is it because they lack knowledge about investing or investing, or something else besides what I mentioned?
Doing it together is a very good thing, because we never know what our future situation will be. Therefore, in my opinion, it's better to accumulate an emergency fund when we have already started accumulating. That's where it's necessary to do so, so we have a strong reserve when unexpected situations arise.

[NewRevelation]

There is no problem if an investor does not keep an emergency fund at the beginning. However, if a good amount of BTC is accumulated, then it becomes necessary for him to create an emergency fund. Because an emergency situation can come at any time, so in an emergency situation and in order not to have to sell the investment in any way, it is necessary for an investor to keep an emergency fund.

Are you serious right now?  You have to wait till a good amount of BTC is accumulated before it becomes necessary to create emergency funds?  Seems you are a joker, and this time s totally a wrong investment approach because you will sell prematurely.

You should know by now that creating an emergency funds is as important as building your portfolio. The right thing to do is that from your discretionary income, while you are buying Bitcoin, you also build your emergency funds alongside. Any attempt to ignoyyiur emergency funds isrky and can make you loose your accumulated assets over financial emergencies.

[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.

We can't rely on gifts alone for our Bitcoin investments because it doesn't come always, yet, it doesn't mean we can't buy some Bitcoin with cash gifts when we get them. It's our own already, and if our basic needs are already take care of from our income and/or from the same cash gift and we still have some left overs, then we can still buy some Bitcoin with it, or perhaps, we can increase our DCAing amount.

Take for instance, a guy who works and earns money, and as usual, he received his income and handles his basic needs and getting his usual discretionary and then invests it into Bitcoin. And then, after that he gets some cash gift form someone or wins a lottery or something else that puts an extra income into his hands. Haven settled his basic needs previously and has bought some chunk of Bitcoin from his discretionary, what will he do with the cash gift? Is he soposed to use the money for personal enjoyments or just keep the money in fiat and leave it to inflation?
I think it is not bad if he decides to put some part of it into Bitcoin investment and even some into his back up funds if he is still building, and maybe some for discretionary consumption. So yea, cash gifts can be used to invest in Bitcoin given the present financial circumstances.

When you win the lottery or receive a cash gift from someone it is a sudden and irregular event. If you base your main financial plan on such an unreliable source you are basically thinking like a gambler. Regular Bitcoin is not possible with the money from a lottery ticket.

[Futurexxx]

When you win the lottery or receive a cash gift from someone it is a sudden and irregular event. If you base your main financial plan on such an unreliable source you are basically thinking like a gambler. Regular Bitcoin is not possible with the money from a lottery ticket.

The truth is that any money made from winning lottery or given to you as a gift can also be used to invest in Bitcoin if you have no basic needs to take care of, but it's more of a one time investment, since depending on winning a lottery or cash gift is not a reasonable source of discretionary income.

I may be investing consistently through the dca accumulating strategy, so if in the process of accumulation I won a lottery or was given a cash gift, I can invest with it, since it's a discretionary income, but depending on such source of discretionary income is not ideal.

[Junii]

There is no problem if an investor does not keep an emergency fund at the beginning. However, if a good amount of BTC is accumulated, then it becomes necessary for him to create an emergency fund. Because an emergency situation can come at any time, so in an emergency situation and in order not to have to sell the investment in any way, it is necessary for an investor to keep an emergency fund. However, if someone thinks that he has to keep an emergency fund before investing, then he is wrong. Because first of all, you should come to investment and then think about the emergency fund.

If someone thinks that he may not have an emergency fund and he continues to deposit BTC. And if a good amount of BTC is deposited in his Bitcoin Wallet, then if he has an emergency situation, he may be forced to sell his investment. Therefore, an investor should keep a specific fund for an emergency fund.

Do you know that an emergency fund makes an investor's investment easier and plays a role in making his investment sustainable. If an investor has an emergency fund, he can easily face any danger, it does not affect his investment or his investment does not suffer any loss. Therefore, we all should keep some amount of money for emergency fund at a specific time. And move forward without hesitation for long-term investment goals.

Bro u are right but i disagree with the emergency fund i mean the emergency fund should always be the first priority then investment because if he/she invest there money in bitcoin even after a week of his/her investment an emergency situation happened to them and the market is down by some percent then they will have to sell there bitcoin in a loss i mean a person invest there money for profits not for a loss that is why the investment in bitcoin is always on discretionary income because the goal is not about accumulating more  and more quantity of bitcoin but on financial stability like if bad time comes on a person they do not have to sell there investments.

[blackisbeauty]

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.

There is no problem if an investor does not keep an emergency fund at the beginning. However, if a good amount of BTC is accumulated, then it becomes necessary for him to create an emergency fund. Because an emergency situation can come at any time, so in an emergency situation and in order not to have to sell the investment in any way,

Even as a new member here, I know that it is always necessary to have your emergency funds beside you when you are investing. As you are buying, you are building it together. It is wrong to wait till anytime you have bought BTC before you begin to build your emergency funds. What if emergency happens a few weeks you started your investment, how do you tackle the challenge?

From personal life experiences, even in a normal business, emergency funds is very important and should always be readily available. You can't avoid setting your emergency funds when you start your investment as you said.. I think its a wrong way of investing. You must start keeping your emergency funds immediately as soon as possible.

[SmartCharpa]

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.

Having backup funds is not necessary for anyone to start investing in Bitcoin. If you have discretionary fund, you are ready to invest instead of waiting to build a backup funds, which is going to be a waste of time. The most important to understand before investing in Bitcoin is to invest what you can afford to lose. It should not money you may need in term of any financial emergency.

Backup funds is the money you set aside to save your investment when you get an emergency. You can use the emergency to cover expenses instead of spending your investment. Our backup funds are not meant for investment, even if we are not comfortable to continue our accumulation, we should not use our backup funds to invest.

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.

I don’t why people keep mistaking emergency funds as discretionary income.

If someone use their emergency funds to buy Bitcoin, what are they going to use to solve unexpected problems? Emergencies do happen, and using emergency funds to invest is not a good idea. You will end up selling your Bitcoin at the end.

[UpTober]

There is no problem if an investor does not keep an emergency fund at the beginning. However, if a good amount of BTC is accumulated, then it becomes necessary for him to create an emergency fund. Because an emergency situation can come at any time, so in an emergency situation and in order not to have to sell the investment in any way, it is necessary for an investor to keep an emergency fund. 

I agree with you that new Bitcoin investor do not need to have an emergency funds in place before starting his accumulation, but I disagree with your that he must first accumulate a good stash of it first before putting it down, because left for me, I think that once he made his first purchase, that's the moment he start putting it down alongside his accumulation, because emergency situation can come at anytime, so accumulating and making provisions for your emergency funds simultaneously is what we are adviced to do, not by first having a good stash of it first before putting down emergency funds as you are proclaiming.

I think that if an investor knows about discretionary income, he can start investing. We often have a lot of misconceptions about investment that before investing, the investor must know the complete thing about investment and before investing, the investor must deposit a certain amount and then start investing, but things are not like this. Before starting investing, it is not necessary to get a complete idea about investment, rather if an investor knows about discretionary income, he can start investing based on his position and maintain the continuity of that investment.

For example, my income at the end of the month is 200 dollars, my overall expenses at the end of the month are 150 dollars, but still I have 50 dollars left and this 50 dollars is my discretionary income. By dividing this discretionary income that I have into two or three parts, with any one bug, but an investor can start his investment.

Now let's come to the issue of emergency funds, emergency funds are important for an investor, but it will depend on the financial management of the investor.  If an investor can set aside some money after meeting all his needs and investing consistently, then he can use that remaining money to form an emergency fund. Because when an investor forms an emergency fund without stress, that emergency fund will give him good confidence and support while investing, due to which he will not have to decide to sell his investment in case of sudden need.