JJG’s Outline of Bitcoin Investment Ideas

[cocadalcan]

We don’t need a stable income before investing in bitcoin what we need is a discretionary income and it doesn’t matter if the discretionary income is coming steady or not, what is important is that you still invest in bitcoin whenever you have a discretionary income available and you are also making every effort to put your finances together with the right financial management strategy to enable you figure out a discretionary income to buy bitcoin no matter how unstable your income may be.

Whether steady income or no steady income, one thing you need to know income places an important role and from the income you get this how discretionary income is also generated and how consistent you do have discretionary income determines how your bitcoin accumulation will be and this why i think investors needs to try and improve their income because their is nothing wrong with those who feel their income is not good enough to accumulate bitcoin.

This plan is especially good for someone who is focusing on increasing their income to accumulate Bitcoin. Having multiple sources of income is good for building your financial position, but if you have one source of income, you should focus on it. Don't invest to make money, earn money to invest in the early stages and do so through discretionary income. Meeting family needs is a priority and building future wealth (Bitcoin) is a second priority.

Since the financial landscape varies geographically, you will need to continue accumulation Bitcoin in line with your income. Don't neglect having an emergency fund because an emergency fund works great for building up your Bitcoin holdings and keeping Bitcoin safe in the long term.

[Junii]

but at 70 it's better to start preparing, DCA at that point in time should be lower compare to their past years.

I disagree with you buddy because a person need money at any age and if you are saying 70 years old has to stop investing because of age factor but what if he live more then us? is you have a guarantee that you will live up to 70 years the answer is obviously no age is just a number if someone has a proper source of income and has no debt also has a discretionary income and he stop investing just because he is old does not make sense what i mean is age alone shouldn't be the deciding factor.

at that age it's better to just have fun and slowly walk away from investment

U can enjoy life and still invest at the same time if someone has enough income.

[BluebloodCXVI]

It is near impossible for a 70 years old not to have their own children or someone in their families who is consider their favourite person, I think someone like that is best in the position to take over from where the 70years old left off.

So you’re proclaiming now that a 70year old having a favorite family member will automatically solve the question of portfolio succession?, what if they(the successor) don’t have the knowledge, discipline and willingness to continue what the 70 year old has built? Or do you think that bitcoin gives a fuck about family relationships or emotional attachments or even who and who was someone’s favorite?

At times nature have its way of cheating too, a 70years old can still reach 90 years before they died but at 70 it's better to start preparing, DCA at that point in time should be lower compare to their past years.

A 70years old can't even eat everything anymore, lower sugar and many other foods will be cancelled off the table, it sucks to get old, at that age it's better to just have fun and slowly walk away from investment because what's the point? Unless they have kids to hand things over to.

This is coming off to me as off topic replies and you seem to have drifted away from the actual subject of this thread.
We’re discussing about JJG’s outline of Bitcoin investment ideas, so the focus of your post should be on the merits of those ideas and how they apply to different financial circumstances, not debating about whether a 70-year-old should start winding down their investments because of their age.

Even your argument about a 70year old having children to inherit their bitcoin portfolio is pretty much a separate consideration because i think that investing isn’t exclusively about building an inheritance; it can also be about preserving purchasing power and maintaining financial independence during one’s lifetime too.

Now we can stay here and debate about whether JJG’s ideas are suitable for someone who is approaching 70years, but that would require us to examine the underlying principles and the 70years old individual’s circumstances, not for us to be assuming that reaching a certain age means that it is time to stop investing. Otherwise, we’re just gonna be here debating a personal philosophy about aging rather than properly engaging with the investment ideas that JJG has presented in this thread.

[Baki202]

We don’t need a stable income before investing in bitcoin what we need is a discretionary income and it doesn’t matter if the discretionary income is coming steady or not, what is important is that you still invest in bitcoin whenever you have a discretionary income available and you are also making every effort to put your finances together with the right financial management strategy to enable you figure out a discretionary income to buy bitcoin no matter how unstable your income may be.

When you use discretionary income the money it's perfect but that dude might be correct because discretionary income still comes from a source of income, which other way it is best you use your discretionary income, what matters the most to me is when you are committed to properly buying because when you are using a discretionary income means dca is involved and it's not just first time that matters, the consistency is what matters the most, and when you are able to manage your finances well then you dca won't be that difficult to handle again because consistency is one of the biggest challenge of most people and if that can be handled then there is less things to do because managing money is not something that is that easy. But for the sake of what we want to archive then we have to remain committed.

[Hardyrobust]

We don’t need a stable income before investing in bitcoin what we need is a discretionary income and it doesn’t matter if the discretionary income is coming steady or not, what is important is that you still invest in bitcoin whenever you have a discretionary income available and you are also making every effort to put your finances together with the right financial management strategy to enable you figure out a discretionary income to buy bitcoin no matter how unstable your income may be.

When you use discretionary income the money it's perfect but that dude might be correct because discretionary income still comes from a source of income, which other way it is best you use your discretionary income, what matters the most to me is when you are committed to properly buying because when you are using a discretionary income means dca is involved and it's not just first time that matters, the consistency is what matters the most, and when you are able to manage your finances well then you dca won't be that difficult to handle again because consistency is one of the biggest challenge of most people and if that can be handled then there is less things to do because managing money is not something that is that easy. But for the sake of what we want to archive then we have to remain committed.

Using discretionary income has nothing to do with the strategy you are actually using. For someone that is using buying the dip strategy, it is still important that they used their discretionary income. So the important of using the discretionary income is to avoid selling at loss or to be under financial pressure. Investing with money for expenses will only make you to sell when an unexpected want or there need for the invested money. So using discretionary has nothing to do with the strategy you are using but, rather it is important to avoid being under financial pressure or being to make emotional decisions. Discretionary income is not just for those that is using DCA but for all long term investors.

[Bluedrem]

Using discretionary income has nothing to do with the strategy you are actually using. For someone that is using buying the dip strategy, it is still important that they used their discretionary income. So the important of using the discretionary income is to avoid selling at loss or to be under financial pressure. Investing with money for expenses will only make you to sell when an unexpected want or there need for the invested money. So using discretionary has nothing to do with the strategy you are using but, rather it is important to avoid being under financial pressure or being to make emotional decisions. Discretionary income is not just for those that is using DCA but for all long term investors.

In areas where investment requires a long-term plan to be profitable, no matter how you invest (DCA method or one-time purchase), you must invest using discretionary income. So, due to long-term investment, the investment portfolio has to be maintained for a long time, so here you have to use such money for investment that you will not need it very easily. That is why people are asked to form an emergency fund before investing so that emergency situations can be solved using emergency funds. No matter which method you invest in, you must use discretionary income for investment. Since investing in Bitcoin is long-term and you have to wait a long time for the final profit after the investment, it is necessary to use such assets here that come from discretionary income.

[Umulala-alala]

We don’t need a stable income before investing in bitcoin what we need is a discretionary income and it doesn’t matter if the discretionary income is coming steady or not, what is important is that you still invest in bitcoin whenever you have a discretionary income available and you are also making every effort to put your finances together with the right financial management strategy to enable you figure out a discretionary income to buy bitcoin no matter how unstable your income may be.

When you use discretionary income the money it's perfect but that dude might be correct because discretionary income still comes from a source of income, which other way it is best you use your discretionary income, what matters the most to me is when you are committed to properly buying because when you are using a discretionary income means dca is involved and it's not just first time that matters, the consistency is what matters the most, and when you are able to manage your finances well then you dca won't be that difficult to handle again because consistency is one of the biggest challenge of most people and if that can be handled then there is less things to do because managing money is not something that is that easy. But for the sake of what we want to archive then we have to remain committed.

Using discretionary income has nothing to do with the strategy you are actually using. For someone that is using buying the dip strategy, it is still important that they used their discretionary income. So the important of using the discretionary income is to avoid selling at loss or to be under financial pressure. Investing with money for expenses will only make you to sell when an unexpected want or there need for the invested money. So using discretionary has nothing to do with the strategy you are using but, rather it is important to avoid being under financial pressure or being to make emotional decisions. Discretionary income is not just for those that is using DCA but for all long term investors.

The dca strategy is one of the best strategy if not the best when buying bitcoin and hold for long, so there should be need to use the dca strategy to invest in BTC using our discretionary income, although it can use for those waiting for the dip but it will more useless waiting for the dip when the best strategy is their to cover up too when their is dip because you never stop buying since you are using the dca strategy, you can't use the dca strategy when you are into trading and most at time trader or gamblers don't use their discretionary income this is why they are traders.

[Bit-Mj1014]

bitcoin can be interesting, but i’d rather see a clear plan for managing risk than just hype around price targets.

Spot on bro, we know that life is full of surprises but having a plan is key, like the saying goes, "not having a plan is like planning to fail", risk management is a very important aspect to look at while investing in Bitcoin, but I think the best way to go around that is using the DCA method

[Loyang]

When you use discretionary income the money it's perfect but that dude might be correct because discretionary income still comes from a source of income, which other way it is best you use your discretionary income, what matters the most to me is when you are committed to properly buying because when you are using a discretionary income means dca is involved and it's not just first time that matters, the consistency is what matters the most, and when you are able to manage your finances well then you dca won't be that difficult to handle again because consistency is one of the biggest challenge of most people and if that can be handled then there is less things to do because managing money is not something that is that easy. But for the sake of what we want to archive then we have to remain committed.

Every investor and every person who is using the DIP method, every person who is using the lump sum investment method invests through his discretionary income. Using discretionary income does not mean that a person is using the DCA method. DCA is an investment method and discretionary income is the amount of money left after paying all the expenses. It is not that a person will use the DCA method just by investing with discretionary income.

One of the biggest reasons why it is said to invest through discretionary income is that the investment is long-term, such as the investment period of 8 to 10 years. If a person invests the required amount of money during this long-term investment, then he may not be able to hold it for a long time and the person may have to sell his holding before the period ends.

[Silikiem]

Whether steady income or no steady income, one thing you need to know income places an important role and from the income you get this how discretionary income is also generated and how consistent you do have discretionary income determines how your bitcoin accumulation will be and this why i think investors needs to try and improve their income because their is nothing wrong with those who feel their income is not good enough to accumulate bitcoin.

That’s the fact having a steady income is a great thing when it comes to investments. Because if an investors has a steady income it allow them to be consistent in their Bitcoin accumulation, but i think those that feel their income is not enough for them to accumulate bitcoin are those that their income is not that big. But not matter how small the income you are earning i think if him/she know how to manage they can still able to accumulate Bitcoin through it, and which can also lead them to have a consistent income together with bitcoin accumulation.

Note that such stable income is not automatically your discretionary income, so you saying that if investors have a steady income it allows them to be consistent in their bitcoin accumulation could be false because you will need a discretionary income to be consistently buying bitcoin and not just a steady income. We should be able to distinguish between a steady income and a discretionary income because in this regard bitcoin investment is done using a discretionary income and not a steady income. For some reasons, one can be having a steady income but still can’t figure out  a discretionary income to use for bitcoin investment which is the more reason why a steady income is not a guarantee of having a discretionary income for bitcoin investment. If you have a steady income without the right financial management skill it will be difficult to figure out a discretionary income off it to invest In bitcoin. So, the income needed for bitcoin investment  is a discretionary income and not a steady income.

[Jewan420]

Note that such stable income is not automatically your discretionary income, so you saying that if investors have a steady income it allows them to be consistent in their bitcoin accumulation could be false because you will need a discretionary income to be consistently buying bitcoin and not just a steady income. We should be able to distinguish between a steady income and a discretionary income because in this regard bitcoin investment is done using a discretionary income and not a steady income. For some reasons, one can be having a steady income but still can’t figure out  a discretionary income to use for bitcoin investment which is the more reason why a steady income is not a guarantee of having a discretionary income for bitcoin investment. If you have a steady income without the right financial management skill it will be difficult to figure out a discretionary income off it to invest In bitcoin. So, the income needed for bitcoin investment  is a discretionary income and not a steady income.

There is no obligation that discretionary funds will be stable only when income is stable. Discretionary funds will be stable only when income and expenses are stable, but in real life this is almost impossible. Because, if you have a stable source of income of $500, but expenses are $400 in a month or $450 in a month or $500+ in a month, then it will definitely affect your discretionary funds. So, to maintain consistency in investment, you should try to keep the discretionary funds as stable as possible. This requires good financial management and expense management skills. An income source of $200 can be sufficient for investment if it provides discretionary money.

[Cryptokuus]

Note that such stable income is not automatically your discretionary income, so you saying that if investors have a steady income it allows them to be consistent in their bitcoin accumulation could be false because you will need a discretionary income to be consistently buying bitcoin and not just a steady income. We should be able to distinguish between a steady income and a discretionary income because in this regard bitcoin investment is done using a discretionary income and not a steady income. For some reasons, one can be having a steady income but still can’t figure out  a discretionary income to use for bitcoin investment which is the more reason why a steady income is not a guarantee of having a discretionary income for bitcoin investment. If you have a steady income without the right financial management skill it will be difficult to figure out a discretionary income off it to invest In bitcoin. So, the income needed for bitcoin investment  is a discretionary income and not a steady income.

There is no obligation that discretionary funds will be stable only when income is stable. Discretionary funds will be stable only when income and expenses are stable, but in real life this is almost impossible. Because, if you have a stable source of income of $500, but expenses are $400 in a month or $450 in a month or $500+ in a month, then it will definitely affect your discretionary funds. So, to maintain consistency in investment, you should try to keep the discretionary funds as stable as possible. This requires good financial management and expense management skills. An income source of $200 can be sufficient for investment if it provides discretionary money.

It is true that discretionary income may not be stable even if someone may have a stable source of income. People expenses may not remain the same in every month and as well as their discretionary income. There are month they may spend more money or even less, which depends on financial management. Those that can be able to manage their finances by cutting down some unnecessary expenses maybe able to generate more discretionary income.

[IceLincoln]

Whether steady income or no steady income, one thing you need to know income places an important role and from the income you get this how discretionary income is also generated and how consistent you do have discretionary income determines how your bitcoin accumulation will be and this why i think investors needs to try and improve their income because their is nothing wrong with those who feel their income is not good enough to accumulate bitcoin.

That’s the fact having a steady income is a great thing when it comes to investments. Because if an investors has a steady income it allow them to be consistent in their Bitcoin accumulation, but i think those that feel their income is not enough for them to accumulate bitcoin are those that their income is not that big. But not matter how small the income you are earning i think if him/she know how to manage they can still able to accumulate Bitcoin through it, and which can also lead them to have a consistent income together with bitcoin accumulation.

Note that such stable income is not automatically your discretionary income, so you saying that if investors have a steady income it allows them to be consistent in their bitcoin accumulation could be false because you will need a discretionary income to be consistently buying bitcoin and not just a steady income. We should be able to distinguish between a steady income and a discretionary income because in this regard bitcoin investment is done using a discretionary income and not a steady income. For some reasons, one can be having a steady income but still can’t figure out  a discretionary income to use for bitcoin investment which is the more reason why a steady income is not a guarantee of having a discretionary income for bitcoin investment. If you have a steady income without the right financial management skill it will be difficult to figure out a discretionary income off it to invest In bitcoin. So, the income needed for bitcoin investment  is a discretionary income and not a steady income.

Yes we can all agree that discretionary income is what’s needed to invest in bitcoin and both someone with a stable source and an unstable source of income can both invest if they have discretionary income.
Having a stable source of income makes it easier and more convenient to sort out your discretionary than an unstable source. And to be able to invest for the long term, one needs a steady supply of discretionary income and a good financial management plan.

[Sammysmart001]

Having a stable source of income makes it easier and more convenient to sort out your discretionary than an unstable source. And to be able to invest for the long term, one needs a steady supply of discretionary income and a good financial management plan.

A stable income gives one a predictable foundation. But lifestyle creep is one of the biggest trap prople do fall for. Most people get their increases on their funds and all they think is about lifestyles, they earn more and will still have zero discretionary income left for coin.

The steady income is to give you potential to invest. Paying yourself first is the only way to guarantee steady supply of discretionary income. If your Bitcoin DCA  can be treated in source a way we treat our bills like rent and electricity bill. You will see that you will consistently build your stack regardless of how other expensive fluctuate.

[Homemade-IQ]

Having a stable source of income makes it easier and more convenient to sort out your discretionary than an unstable source. And to be able to invest for the long term, one needs a steady supply of discretionary income and a good financial management plan.

A stable income gives one a predictable foundation. But lifestyle creep is one of the biggest trap prople do fall for. Most people get their increases on their funds and all they think is about lifestyles, they earn more and will still have zero discretionary income left for coin.

The steady income is to give you potential to invest. Paying yourself first is the only way to guarantee steady supply of discretionary income. If your Bitcoin DCA  can be treated in source a way we treat our bills like rent and electricity bill. You will see that you will consistently build your stack regardless of how other expensive fluctuate.

The key thing there is figuring out your discretionary income in what ever you are doing, because once you can figure it out, nothing is stopping you from investing. Having a stable income is good, since it helps in the aspect of consistency, but figuring out your discretionary income consistently from it is the most important thing, because without it, you cannot buy and accumulate consistently.

[Perfect-World]

Note that such stable income is not automatically your discretionary income, so you saying that if investors have a steady income it allows them to be consistent in their bitcoin accumulation could be false because you will need a discretionary income to be consistently buying bitcoin and not just a steady income. We should be able to distinguish between a steady income and a discretionary income because in this regard bitcoin investment is done using a discretionary income and not a steady income. For some reasons, one can be having a steady income but still can’t figure out  a discretionary income to use for bitcoin investment which is the more reason why a steady income is not a guarantee of having a discretionary income for bitcoin investment. If you have a steady income without the right financial management skill it will be difficult to figure out a discretionary income off it to invest In bitcoin. So, the income needed for bitcoin investment  is a discretionary income and not a steady income.

There is no obligation that discretionary funds will be stable only when income is stable. Discretionary funds will be stable only when income and expenses are stable, but in real life this is almost impossible. Because, if you have a stable source of income of $500, but expenses are $400 in a month or $450 in a month or $500+ in a month, then it will definitely affect your discretionary funds. So, to maintain consistency in investment, you should try to keep the discretionary funds as stable as possible. This requires good financial management and expense management skills. An income source of $200 can be sufficient for investment if it provides discretionary money.

It is true that discretionary income may not be stable even if someone may have a stable source of income. People expenses may not remain the same in every month and as well as their discretionary income. There are month they may spend more money or even less, which depends on financial management. Those that can be able to manage their finances by cutting down some unnecessary expenses maybe able to generate more discretionary income.

You don't really need a stable discretionary income to invest into Bitcoin. It is normal that your Discretionary income does not remain stable due to an increase in demand and/or expenses within a particular week or month as the case may be, so the discretionary is not always stable. Sometimes it's low, sometimes high and sometimes normal.

All you need to do is buy Bitcoin with the little discretionary available. The point is to remain consistent in buying no matter how small the amount used is. With time, your little buys can grow into something big if we remain consistent and HOD, because you will be far better off than someone who didn't buy at all due to an unstable discretionary.

[Odusko]

We don’t need a stable income before investing in bitcoin what we need is a discretionary income and it doesn’t matter if the discretionary income is coming steady or not, what is important is that you still invest in bitcoin whenever you have a discretionary income available and you are also making every effort to put your finances together with the right financial management strategy to enable you figure out a discretionary income to buy bitcoin no matter how unstable your income may be.

When you use discretionary income the money it's perfect but that dude might be correct because discretionary income still comes from a source of income, which other way it is best you use your discretionary income, what matters the most to me is when you are committed to properly buying. After all, when you are using a discretionary income means dca is involved and it's not just first time that matters, the consistency is what matters the most, and when you can manage your finances well then you dca won't be that difficult to handle again because consistency is one of the biggest challenge of most people and if that can be handled then there is less things to do because managing money is not something that is that easy. But for the sake of what we want to achieve, then we have to remain committed.

DCA buying using discretionary income have multiple layers which consistency in purchasing rather set amount of bitcoin is one of such layers that is lost considered in DCA approach, other layers is your discretionary income management, this point is where you must adjust your set target monthly buying amount, let say your discretionary income I pegged at $300 out of your total monthly income of $1000, if along the line your income amount change fro. $1000 monthly salary  to $1500 income months you are expected to adjust your discretionary income for bitcoin purchase to somewhere around $350 buying capital property even $400 at most aggressive manner, you see where the changes can come in along the way, and you need to make plans for such changes, be it upwards or downward, depending on your financial conditions at each point.