JJG’s Outline of Bitcoin Investment Ideas

[Primark]

Then you can start with any amount you can afford at the moment, that won’t affect your emergency funds and backup funds allocation. With enough back up funds those that always have the urges to buy the dip , don’t need to wait for the dip before they start accumulating. They can literally save some backup funds to buy the dip .

Maybe you wanted to say reserve fund? It is also a type of backup fund; but flexible unlike emergency fund. You can buy dips with it and also use it to take care of emergencies before tapping from your real emergency savings if it is not enough.

The sole purpose of building a backup funds isn't for buying the dip but it is for unexpected emergencies that will help in the future, obviously @ Anime seem to be mixing up backup funds in place of reserve funds because our reserve funds can be use to buy Bitcoin when there's dip that's if guys does not have enough discretionary income at the time, or they feel that the amount of discretionary income they have is not enough for them to buy as aggressive as they planned. But as for the backup funds apart from emergency needs our backup funds should not be spend in any other thing.

Your discussion is quite good, because you said that you should not buy at a discount with money kept for emergency needs, which I also agree with. However, if you take the backup fund and the emergency fund in the same sense here, the issue of reserves becomes unclear. In this thread, the backup fund includes both emergency funds and reserves. So when you said that no backup money can be used except for emergency needs, you yourself actually admitted that there is an opportunity to buy at a discount with the reserve. In the discussion of @samadam007, the reserve is called a flexible form of backup. That is why his explanation is not a permission to buy with the emergency fund. Rather, it is an attempt to separate which part is flexible and which part will remain intact for needs.

However, just giving the name reserve does not make the entire money free for investment. I would like to mention a situation where, suppose, you have set aside money for house repairs and want to buy it at a discount. If the repairs are urgent, that money is not actually extra money that can be spent.  On the other hand, if there is money set aside for expenses that can be deferred, there may be an opportunity to use some of it, considering the remaining security.

[cxtreenal]

Many dips would still happen in the future so not being able to seize an opportunity in a particular one is not the end of the world but some people can't quite being opportunists and would end up using the wrong funds to buy dips and complicate the investment along the line, it's even worst than waiting for the dip.
 Although waiting for the dip is never a good strategy cause it gives room for procrastination and wrong market timing, the market is unpredictable and no one can tell the exact price it would drop before recoverin.

Your right the lack of understanding is what make most people misused their opportunity they get from beginning, and this is part of what lead some investors to use their wrong funds to buy dips thinking that it will be a great thing for them in future. Those investors who choose the dips has their favorite way of getting the best price on the market, some are now regretting after they realized that keep waiting for the dips is not the best strategy most of them are have learn from their mistakes; whereby some are still there confusing themselves.

Do you know why some people prefer the dip over long term investment? It has to favour them before and they think they will be lucky with it every time. To predict the market is not a nice thing, buying with the wrong funds is another wrong decision to ever make. Mistakes can happen sometimes, and some people realized their mistakes after putting the wrong funds to ensure they didn’t do it again in the future, whereby some will choose timing the market to play smart than every other person, instead of buying regularly for their own sake.

Be clear about what you mean by the wrong funds. Use a significant portion of your discretionary income to invest in Bitcoin and keep the rest available for emergency funds and extras. Avoid any complications when it comes to accumulating Bitcoin. DCA is the best alternative for Bitcoin accumulation. No one can predict when the price will drop. DCA encourages you to accumulate Bitcoin regularly according to your financial capacity without focusing on price fluctuations.

[Promocodeudo]

Do you know why some people prefer the dip over long term investment? It has to favour them before and they think they will be lucky with it every time. To predict the market is not a nice thing, buying with the wrong funds is another wrong decision to ever make. Mistakes can happen sometimes, and some people realized their mistakes after putting the wrong funds to ensure they didn’t do it again in the future, whereby some will choose timing the market to play smart than every other person, instead of buying regularly for their own sake.

I think the reason why some folks talk more on the dip is because is known to be a time that investors can buy at a reduced price, there something we should know, buying the dip is not a problem, but waiting for the dip to buy is absolutely wrong, cause the market is never stable, meaning that Bitcoin is a volatile asset, so it is better for us to buy at every time as long as as discreationary income is available.

Yea allocating funds that are not supposed to be used for buying Bitcoin, is not right, any funds that falls out of our discretionary income should not be used for Bitcoin investment except we are ready to bear the consequences.

[Dunamisx]

Any investment strategy you use that gives you a better opportunity to maximize profitability and minimize loss should always be considered, which is what many traders are now using because they believe that if they are truly going for a long-term holding of Bitcoin, then the best strategy is to buy and hold. holds what anyone could easily afford to use as a strategy if they have a future plan for their investment.

[Alonso_]

Any investment strategy you use that gives you a better opportunity to maximize profitability and minimize loss should always be considered, which is what many traders are now using because they believe that if they are truly going for a long-term holding of Bitcoin, then the best strategy is to buy and hold. holds what anyone could easily afford to use as a strategy if they have a future plan for their investment.

You should be more focused on investing in Bitcoin and not trading, here is a domain where people talk about investing in Bitcoin and not traders. Not all investment you should consider because you can minimize loose, there are investments out there that you can get profit but it’s not a very good investment, have you heard about Ponzi scheme and some get rich quick schemes isn’t trustworthy you should be very careful how you make investments in anything that makes you maximize profits. However investing in Bitcoin should be approached with discretionary income, because investing in Bitcoin doesn’t give you a guarantee of having profits, but approaching Bitcoin with the mindset of long term investment is a good approach in Bitcoin investment. Perhaps you should also know that traders doesn’t go for a long term buying and holding of Bitcoin, they’re focused on buying and selling when they come across a specific profit they want, and wouldn’t know they are missing out on opportunities of having more bitcoin.

[Shineup]

The sole purpose of building a backup funds isn't for buying the dip but it is for unexpected emergencies that will help in the future, obviously @ Anime seem to be mixing up backup funds in place of reserve funds because our reserve funds can be use to buy Bitcoin when there's dip that's if guys does not have enough discretionary income at the time, or they feel that the amount of discretionary income they have is not enough for them to buy as aggressive as they planned. But as for the backup funds apart from emergency needs our backup funds should not be spend in any other thing.

Okay let’s set the emergency fund amount aside for a moment cuz i’m still confused about one thing, Suppose I’m buying 100 usd worth of Bitcoin, and right now the price is around $81,474 and as a long term investment, I’ll keep buying this same 100 usd  every month, so this actually means  that im not trying to buy a fixed amount of Bitcoin, im spending a fixed amount of money exactly 100 usd every single month, no matter what the price is doing, so the question is should i rise the amount of my investment to keep up with inflation ?

If you have the necessary resources to increase the amount for your investment you can go ahead there is nothing wrong with that especially if it is within the means of your discretionary income, but when you intend to increase the amount for your investment solely to keep up with inflation then there is going to be a problem of lost of your peace of mind while trying to keep up with the increasing inflation rate, all of that is not necessary and you might end up using money not meant for investment, investment is for long term therefore protecting your peace of mind should be highly paramount the reason why you have to be conveniently investing without pressure of any kind.

[Different patterns]

~ snip

Thanks for the numerous corrections you made in the above post. I see a lot of members deluding themselves into thinking that one can start up Bitcoin investment without having good financial inflow. I for once don't believe that someone with a lot of responsibilities, and an income that doesn't satisfy all his responsibilities can comfortably invest in Bitcoin—it's not just feasible.

Since we are in a bitcoin thread here, we frequently strive to encourage guys to both get started buying bitcoin and to stay invested in bitcoin by ongoingly adding to their bitcoin stash, even if the amounts are small.

Yet, at the same time, each guy has to figure if he has enough money, and also there surely are guys who have little to no assurity that they are going to be able to keep their income for several months, so they end up having to build and maintain higher level of cash than they would prefer to, and so they consider themselves as ineligible to invest into something like bitcoin where the investment needs to be 4-10 years or longer.

Surely one of the selling points of bitcoin is that there is potential that it could help guys to get out of poverty, yet surely one of the requirements of investing is to have discretionary income and even prospects to be able to keep income coming in that is going to be able to continue to pay for expenses and to have some money left over for discretionary spending.

Exactly, a lot of people have been working hard in this forum, especially this thread just to encourage newbie not to delay their bitcoin journey, not until they have a large amount of money before they can start, they can start with small they have, as long as it discretionary funds, not money that will put pressure on their investment in the future. And again I just realized that some folks delay their buying because they think bitcoin is only for people who are financially stable. That’s completely wrong thinking. As a serious investor, you can start as little your discretionary income is. building your bitcoin position gradually without waiting for large sum to start.

[Nheer]

Exactly, a lot of people have been working hard in this forum, especially this thread just to encourage newbie not to delay their bitcoin journey, not until they have a large amount of money before they can start, they can start with small they have, as long as it discretionary funds, not money that will put pressure on their investment in the future. And again I just realized that some folks delay their buying because they think bitcoin is only for people who are financially stable. That’s completely wrong thinking. As a serious investor, you can start as little your discretionary income is. building your bitcoin position gradually without waiting for large sum to start.

It's true some people actually delay their Bitcoin investment because they think they need to be stable before they can invest in it and meanwhile anyone can always invest in Bitcoin. I feel it's all due to ignorance that's why they have such mindset.

Understanding Bitcoin investment matters a lot but shouldn't be a reason you delay your investment. Also the mistake many people make is trying to put so much into buying Bitcoin, they don't know that it's a gradual process of building oneself. Start small, grow your investment while not overdoing anything or investing only discretionary income that way there will be less pressure when the plan is holding for a long time.

[YellowSwap]

Exactly, a lot of people have been working hard in this forum, especially this thread just to encourage newbie not to delay their bitcoin journey, not until they have a large amount of money before they can start, they can start with small they have, as long as it discretionary funds, not money that will put pressure on their investment in the future. And again I just realized that some folks delay their buying because they think bitcoin is only for people who are financially stable. That’s completely wrong thinking. As a serious investor, you can start as little your discretionary income is. building your bitcoin position gradually without waiting for large sum to start.

It's true some people actually delay their Bitcoin investment because they think they need to be stable before they can invest in it and meanwhile anyone can always invest in Bitcoin. I feel it's all due to ignorance that's why they have such mindset.

Understanding Bitcoin investment matters a lot but shouldn't be a reason you delay your investment. Also the mistake many people make is trying to put so much into buying Bitcoin, they don't know that it's a gradual process of building oneself. Start small, grow your investment while not overdoing anything or investing only discretionary income that way there will be less pressure when the plan is holding for a long time.

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

[RockBell]

If you have the necessary resources to increase the amount for your investment you can go ahead there is nothing wrong with that especially if it is within the means of your discretionary income, but when you intend to increase the amount for your investment solely to keep up with inflation then there is going to be a problem of lost of your peace of mind while trying to keep up with the increasing inflation rate, all of that is not necessary and you might end up using money not meant for investment, investment is for long term therefore protecting your peace of mind should be highly paramount the reason why you have to be conveniently investing without pressure of any kind.

Resources are crucial because they allow you to do everything you want, including investing, which requires capital. Having a healthy discretionary income might help you raise your budget because that is the primary goal. We need money to make more money, and achieving our goals is difficult.  The increase in inflation means we have to do something now, while there is still time to invest. Buying Bitcoin now is one of the best decisions that we can make.

The only thing that can be used to combat inflation is investment, and since Bitcoin is more private, no one will claim to know about your investment. This is why many people recommend it, and since prices are rising, we need a reliable source of income. We need to look forward to seeing us make a decision about how to better things for ourselves.

[JayJuanGee]

In a situation with much responsibilities, before investing, you need to have a good cash-inflow that can satisfy all your responsibilities and have a considerable reserve left. You just can't invest whenever, however, and wherever. The thought of "start investing now, don't wait" is a delusional thought to me, and it won't be sustainable or feasible along the line.

It is your judgement, ultimately.  I understand that some guys are in quite tough circumstances, and I can recall going through times (especially 30-ish years ago when I was younger) in which I did not have extra income, and surely I was lucky to be able to go to school and to get some certifications and even some connections that allowed me to get promoted and then all of a sudden to have way more extra money.  Not everyone is able to figure out how to do it or even to have abilities to increase their job prospects, which then results in higher income.. and sometimes with higher income, we might choose to continue to keep our expenses low (which was the case with me), which then allows to invest much, if not most, of the additional income... so yeah.. some times it can be difficult to get additional income or even to cut expenses and also sometimes guys have age, health and even some family relationship situations that greatly limit what they are able to do in terms of increasing income and/or cutting expenses.

The bolded point somewhat adds a nuance to my so called "theory"—which is subjective btw, and in no way a standard. Cutting off some (or most) of your budget/responsibilities, such as some unnecessary subscriptions, things you don't really need (just as you explained earlier with need versus want), stacking up unnecessary bills and other avoidable expenses, can somewhat create a sense of abundance and thus create more discretionary funds that can be allocated to ones Bitcoin investment. Just as you shared your experience, I also applied same principle in my journey too (I just can't understand why it completely slipped my mind to include this). So...yeah, I completely agree with you on this and I think I'll refine my "theory": cutting down disposable responsibilities/unnecessary expenses can also give one more leeway to invest.

For sure, I am NOT proclaiming that increasing discretionary income is easy, and there are some guys who completely refuse to cut any of their expenses, even though it could well be the case that they are being unnecessarily stubborn and causing damage to their own abilities to invest into bitcoin more aggressively.

I mentioned my own historical patterns of saving money on lodging costs, and I will also say that frequently in the past, especially in my 20s and 30s, I would frequently try to avoid buying anything new (such as furniture and even things like cars), and my friends (colleagues at work with similar income levels), they would always be buying new things (cars, furniture and other new stuff), and yeah, maybe I could have had lived much better by spending and splurging more, yet it seems that by the time that I got to my 40s, I started to break away from my earlier habits and to spend more, since it seemed that my earlier ongoing investing in my 20s and 30s had paid off quite a bit - yet at the same time, I did still continue to go through phases in which both my income and expenses were uncertain, especially related to business expenses that I had.. so I understand that some times there can be struggles in figuring out what to buy and what not to buy and there can even be cost effectiveness that can end up coming from buying some things that are more expensive, but then the more expensive items can sometimes last a lot longer, and they also might have some utility and side benefits too.  

The sole purpose of building a backup funds isn't for buying the dip but it is for unexpected emergencies that will help in the future, obviously @ Anime seem to be mixing up backup funds in place of reserve funds because our reserve funds can be use to buy Bitcoin when there's dip that's if guys does not have enough discretionary income at the time, or they feel that the amount of discretionary income they have is not enough for them to buy as aggressive as they planned. But as for the backup funds apart from emergency needs our backup funds should not be spend in any other thing.

Okay let’s set the emergency fund amount aside for a moment cuz i’m still confused about one thing, Suppose I’m buying 100 usd worth of Bitcoin, and right now the price is around $81,474 and as a long term investment, I’ll keep buying this same 100 usd  every month, so this actually means  that im not trying to buy a fixed amount of Bitcoin, im spending a fixed amount of money exactly 100 usd every single month, no matter what the price is doing, so the question is should i rise the amount of my investment to keep up with inflation ?

The most important thing is getting started buying bitcoin on an ongoing, regular, persistent and consistent basis, and if you are somewhat focusing on buying bitcoin and giving your bitcoin buying priority, you likely will come to realize that there tends to be some value in figuring out ways to buy bitcoin as aggressively as you can without overdoing it.

Giving such priority to bitcoin involves paying attention to how much income you have coming in as compared with your expenses, and so there may well be times in which you have extra income and there also may well be times that you are able to allocate your buying times so that you are striving to buy bitcoin every week, whether that is $20 to $30 per week no matter what or maybe you figure that there are ways to buy more, since every once in a while you have extra money and/or your expenses are lower during some months.

You figure out your level of aggressiveness, and if you are holding back money, then that is your choice to be purposefully less aggressive based on your not wanting to inconvenience yourself in terms of the money that you have available.  Remember that once you figure out your discretionary funds, then you have three ways that you can use those funds, which is invest, save or discretionarily consume, and you decide how much to put into each category based on your own preferences and priorities, and yeah perhaps the first 1-2 cycles (4-8 years) you might not be too preoccupied with how much bitcoin you have and/or what they are worth since you are still in your early building stages, but surely your choice about your level of aggressiveness can make a difference, since the guy who had invested $50 per week into bitcoin in the past 10 years as compared with the guy who invested $10 per week in the past 10 years, the $50 per week guy has 5x more bitcoin than the guy who had invested $10 per week, which surely seems to be a better place to be, yet these are still individual choices related to their priorities.

Let's say that you are earning about $800 per month, and so your $100 per month that you are putting into bitcoin is about 12.5% of your income, and so you feel that you are already being quite aggressive in your bitcoin investing since you are putting a pretty high percent of your total income into bitcoin.  Let's say, for example, that your total expenses each month are around $500, so you end up putting around 33% of your discretionary income into bitcoin.. and so you surely have flexibility to go up or down in your regular contribution whether you structure your contributions to be monthly, weekly or otherwise, and surely I frequently tell guys that I prefer that newbies try to figure out ways to buy bitcoin weekly since it gives priority to bitcoin and forces us into both regularity and frequency in our bitcoin buying ritual.. that may well continue for 1-2 cycles or perhaps even longer.

Ultimately with your investing choice, you have the investment, the savings and the discretionary consumption..   There might be some weeks that you prioritize one or another, yet if we go with the above income example, if you were to end up getting a 10% raise, then you have $80 more per month that you are able to decide how to allocate?  How are you going to allocate?  Do you think that it is worth it to raise your bitcoin allocation by 10% or some higher amount?  You have to figure out the extent to which your bitcoin is getting priority and the extent to which you believe that bitcoin is keeping up with inflation or the other areas that you are allocating your extra money when you know that inflation is going up.

[Silikiem]

Exactly, a lot of people have been working hard in this forum, especially this thread just to encourage newbie not to delay their bitcoin journey, not until they have a large amount of money before they can start, they can start with small they have, as long as it discretionary funds, not money that will put pressure on their investment in the future. And again I just realized that some folks delay their buying because they think bitcoin is only for people who are financially stable. That’s completely wrong thinking. As a serious investor, you can start as little your discretionary income is. building your bitcoin position gradually without waiting for large sum to start.

It's true some people actually delay their Bitcoin investment because they think they need to be stable before they can invest in it and meanwhile anyone can always invest in Bitcoin. I feel it's all due to ignorance that's why they have such mindset.

Understanding Bitcoin investment matters a lot but shouldn't be a reason you delay your investment. Also the mistake many people make is trying to put so much into buying Bitcoin, they don't know that it's a gradual process of building oneself. Start small, grow your investment while not overdoing anything or investing only discretionary income that way there will be less pressure when the plan is holding for a long time.

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

I can agree with you to some extent but not to say that if someone doesn’t have a job he should rule out investing in bitcoin the reason is because what is needed to invest in bitcoin is just a discretionary income and not really the job you’re doing. There are people who have jobs but they can’t still be able to invest In bitcoin because they don’t have or they are unable to figure out a discretionary income to use in investing in bitcoin. Having a job is good but that’s not the pre-requisite of investing in bitcoin or to get started as what is needed is just to figure out a discretionary income. And yes, I can agree with you on the part that anyone who’s struggling to meet up with his daily needs shouldn’t invest in bitcoin but if anyone is able to figure out a discretionary income after sorting out their basic necessities then they can invest in bitcoin and as time goes on they can be looking out for ways to improve their finances to be able to continue in their ability to figure out a discretionary income to use and buy bitcoin and hold.

[Muba20]

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

I can agree with you to some extent but not to say that if someone doesn’t have a job he should rule out investing in bitcoin the reason is because what is needed to invest in bitcoin is just a discretionary income and not really the job you’re doing. There are people who have jobs but they can’t still be able to invest In bitcoin because they don’t have or they are unable to figure out a discretionary income to use in investing in bitcoin. Having a job is good but that’s not the pre-requisite of investing in bitcoin or to get started as what is needed is just to figure out a discretionary income. And yes, I can agree with you on the part that anyone who’s struggling to meet up with his daily needs shouldn’t invest in bitcoin but if anyone is able to figure out a discretionary income after sorting out their basic necessities then they can invest in bitcoin and as time goes on they can be looking out for ways to improve their finances to be able to continue in their ability to figure out a discretionary income to use and buy bitcoin and hold.

You are right. In terms of investment, having a job is not mandatory, but what is needed at the beginning of investment is discretionary income. It is not that discretionary income has to come only from a job. Discretionary income can come from any profession after all expenses are set aside. If someone is a businessman, then if he can set aside money after meeting all his expenses with a share of his profit, then that is discretionary income. If he wants, he can start with a small amount with a part of that discretionary income. Sometimes, even a gift can also bring discretionary income. Of course, having a job or a steady income can be an advantage in terms of investment, but those who want to make it a prerequisite may not be able to start. No matter what profession you are involved in, if you can set aside a small amount of discretionary income after meeting all your expenses, then you can feel free to start small. For this, there is no need to rely on a job.

[Sally9256]

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...

Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.

As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

You're getting it all wrong. Investing in Bitcoin is not forced on anyone, if you have been active in this thread you should understand what is teached here. Nobody is forced to invest in Bitcoin not even those who have a job because some might be working but their income is not enough to fund their investment i.e their income is barely enough to cover their expenses so they can't afford to invest anything. Doing so will only make them invest with non discretionary income.

Investing in Bitcoin is said to be done with only discretionary income, which doesn't only come from having a job. Some might have a job and not have discretionary income while some without job can have discretionary income. You should understand that discretionary income can be gotten from different sources as long as it is not meant for your necessary expenses.

When you don't have a good investment practice then you're definitely going to struggle with it. Clearly you seem like who have such experience that's why you think it's not for everyone.

[Just Say]

~ snip

Thanks for the numerous corrections you made in the above post. I see a lot of members deluding themselves into thinking that one can start up Bitcoin investment without having good financial inflow. I for once don't believe that someone with a lot of responsibilities, and an income that doesn't satisfy all his responsibilities can comfortably invest in Bitcoin—it's not just feasible.

Since we are in a bitcoin thread here, we frequently strive to encourage guys to both get started buying bitcoin and to stay invested in bitcoin by ongoingly adding to their bitcoin stash, even if the amounts are small.

Definitely since we are on a bitcoin discussion here, the absolute novice is advised to start buying bitcoins as soon as possible and continuously increase their bitcoin reserves.Even apart from this forum I give detailed discussions about Bitcoin to some people in my area where the main point is to start Bitcoin investing with basic knowledge and start it as soon as possible.

Yet, at the same time, each guy has to figure if he has enough money, and also there surely are guys who have little to no assurity that they are going to be able to keep their income for several months, so they end up having to build and maintain higher level of cash than they would prefer to, and so they consider themselves as ineligible to invest into something like bitcoin where the investment needs to be 4-10 years or longer.

Surely one of the selling points of bitcoin is that there is potential that it could help guys to get out of poverty, yet surely one of the requirements of investing is to have discretionary income and even prospects to be able to keep income coming in that is going to be able to continue to pay for expenses and to have some money left over for discretionary spending.

Starting a Bitcoin investment without sufficient cash flow is the most risky because cash flow is definitely needed to sustain this investment, so those with little or no assurance of income retention should arrange for income and later when they can generate discretionary income, start by buying fractional amounts of Bitcoins that can steadily increase their Bitcoin reserves and with a long-term plan, be able to accumulate Bitcoins regularly over a period of 4-10 years.So they should find ways to increase their disposable income so that they are able to invest in Bitcoin.You are right that without a doubt one of the attractive aspects of Bitcoin is that it helps people out of poverty, but achieving financial prosperity from Bitcoin investment requires patience, discipline,Buy Bitcoin with Discretionary Income with a Long-Term Mindset and everyone should invest in Bitcoin with Should be invested with devotion.

[Perfect-World]

Any investment strategy you use that gives you a better opportunity to maximize profitability and minimize loss should always be considered, which is what many traders are now using because they believe that if they are truly going for a long-term holding of Bitcoin, then the best strategy is to buy and hold. holds what anyone could easily afford to use as a strategy if they have a future plan for their investment.

You seem to be mixing words here, complicating Bitcoin investment with trading which isn't right.

Traders don't rely on HODLing, nope, they sell at any slight positive shift in price and take little gains, and maybe wait till Dip period to buy again, and that's not investment, and that's not what we are talking about here.

Investors rather buy Bitcoin gradually and build up there portfolio. They don't hurry to sell there assets due to little pump in price and market changes, and surely, that's the best way to go about Bitcoin investment and not chasing after little gains inform of trading.

[JayJuanGee]

[edited out]

.....you can reduce you DCAing price also. ....

Pray tell.  How are you going to "reduce your DCA'ing price"?

[edited out]

However, in my opinion, the main thing is to understand how much savings is enough according to their financial situation, and I hope you will agree with this. Someone who has a stable income and already has sufficient savings can be comfortable taking more risks than someone with limited savings or an uncertain income. However, people with uncertain and limited income should not assume that they will get money in the future, even if it is possible, because there is no doubt that if the money is delayed or does not come as expected, it will cause financial stress.

Yep.  I agree with those points.

Exactly, a lot of people have been working hard in this forum, especially this thread just to encourage newbie not to delay their bitcoin journey, not until they have a large amount of money before they can start, they can start with small they have, as long as it discretionary funds, not money that will put pressure on their investment in the future. And again I just realized that some folks delay their buying because they think bitcoin is only for people who are financially stable. That’s completely wrong thinking. As a serious investor, you can start as little your discretionary income is. building your bitcoin position gradually without waiting for large sum to start.

It's true some people actually delay their Bitcoin investment because they think they need to be stable before they can invest in it and meanwhile anyone can always invest in Bitcoin. I feel it's all due to ignorance that's why they have such mindset.

Understanding Bitcoin investment matters a lot but shouldn't be a reason you delay your investment. Also the mistake many people make is trying to put so much into buying Bitcoin, they don't know that it's a gradual process of building oneself. Start small, grow your investment while not overdoing anything or investing only discretionary income that way there will be less pressure when the plan is holding for a long time.

I respect your opinion but from the little things that have happened around me I strongly believe that Bitcoin investment is not for everyone...
Most of the times, what do you think is the reason why some Bitcoin investors go back to their portfolio and start spending? It's because they forced themselves to invest in Bitcoin, they can't afford to but they do it anyways.

Probably because they listened to advices that's similar to yours, if you don't have a job just rule out the idea of investing in Bitcoin, if your source of income isn't significantly good enough to pay your bills and leave some money on the table after, you have no business with BTC.
As good as investment is, and coming from someone who have seen a lot of situations in my developing country I have the full confidence to back my claim that Bitcoin investment isn't for everyone.

Sorry for your loss @YellowSwap, and you likely realize that your loss is completely your fault, even though you want to blame guys on the internet for being "too gung ho" about bitcoin.

One of the most basic requirements in bitcoin continues to be that a guy must be investing from his discretionary funds and not from money that he needs, and yeah, if he fucks up and thinks that he is able to invest and that he has enough discretionary funds, he is going to be bit in the ass when he needs that money for his expenses and it is "locked up" in bitcoin that he wishes would go up in price in the short term (so that he can cash out) but the price does not go up within the timeline that the guy needs the money.

So yeah, guys can mistakenly conclude in their calculations that they have enough funds to buy bitcoin with those funds, but they had fucked up in their calculations.

Many of us, including yours truly, recommend investing in bitcoin and not trading with it or trying to gamble with it, and sure there are a lot of guys who don't know the difference between trading/gambling and investing, and they wrongly conclude that they are investing when they are trying to trade/gamble and to make profits and wrongly believe that they are investing.
 
Yep.  Life can be rough, and lessons can be hard, since no one is going to save any of us if we fuck up and we miscalculate how much money we have available, and many guys might not even realize that bitcoin is a 4-10 year or longer timeline for investing, and they wrongly conclude that they can fuck around and try to flip it in a shorter period of time, including trying to play cycles and other short-term (less than 4 years) aspects of bitcoin that ends up fucking them up the ass when bitcoin price ends up not going up as they had hoped (and expected) it to do.

So maybe lessons can be learned to the extent that guys recognize/appreciate bitcoin as a valuable asset to invest into, yet each of us has to be careful not to invest beyond our means, and if we do not actually have discretionary funds (or a sufficient amount of such), then we should not be investing in bitcoin, since bitcoin investing has a 4-10 year or longer timeline that we should be striving to work within those kinds of investment parameters rather than trying to gamble and/or trade with it.

[Morayoam91]

Perfect dip can never be predicted. Another mistake of an investor is to change his aggressiveness by looking at the price. The accumulation amount of investment in Bitcoin should be fixed depending on the financial ability. And buying Bitcoin with the wrong fund is even more risky. Especially the work of the emergency fund is to prevent bitcoin from forced selling in emergency situations. And if someone invests in bitcoin with his necessary fund or backup fund, only because the price of bitcoin has decreased then it is a wrong investment strategy. And even if a fund can be set aside for the Dip then if the price of Bitcoin does not decrease further with time then the amount of fund that was waiting to buy in the Dip for the long term will be wasted both time and opportunity. Losing the long term holding capacity by obsessing over the dip is a very risky decision, where it will not be possible to do bitcoin DCA in the long term.

Waiting for the right time will not only waste your time, but later when the price of Bitcoin increases, you will be disappointed, because you have missed your opportunities by thinking that the right time has not yet come. Therefore, it is important to start now instead of waiting for the right time. By investing through the DCA strategy, you are always free from the challenge of when to enter or exit the market and can continue investing without additional market research. Having extra money on hand for investment is enough, because investing with the necessary money associated with life will not allow you to complete your investment in the long run. Because it may be needed in every emergency situation in your life and then you will be forced to give up your investment before meeting that need in the long run, even if the price of Bitcoin continues to fall. Therefore, it is effective to proceed gradually through the DCA strategy with the extra money on hand.

[Jewan420]

Definitely since we are on a bitcoin discussion here, the absolute novice is advised to start buying bitcoins as soon as possible and continuously increase their bitcoin reserves.Even apart from this forum I give detailed discussions about Bitcoin to some people in my area where the main point is to start Bitcoin investing with basic knowledge and start it as soon as possible.

Doesn't this put your security at risk? I don't know what kind of people you discuss Bitcoin investment with, but if you are not close to them, promoting Bitcoin to them can put your security at risk. Because there is still a perception among people in society that owning Bitcoin means owning a lot of money. So don't attract terrorists by promoting Bitcoin randomly.

Knowledge about Bitcoin is of no value if you don't apply it. So it is advised that you learn a little but apply it in practice. The same is true in investing, start investing so that you can apply what you learn. If you don't start investing, you will not get a field to apply your knowledge.

[Homemade-IQ]

Be clear about what you mean by the wrong funds.

I think that when you here of the statement "investing with the wrong fund" the person may be talking about someone that is investing away from his discretionary income.

Use a significant portion of your discretionary income to invest in Bitcoin and keep the rest available for emergency funds and extras.

Your investment may have problem along the way of your investment, because like that you are being over aggressive towards your accumulation. So dividing your discretionary income into three different equal part is the best, one for investment, one for your back up funds and one for discretionary consumption, with that you can invest smoothly without problem.