JJG’s Outline of Bitcoin Investment Ideas

[ZeroVinsonN]

I have been running DCA in Bitcoin for about a year and a half. But before starting investing, I had an emergency fund, I had created it long ago because even before investing, a person can face an emergency situation and then this emergency may need to be used. So when I started investing in Bitcoin, I did not have to think much about an emergency fund.

It's very okay if you already had emergency fund before you got into Bitcoin, that's an advantage you've already since you'll not be building your emergency fund from the scratch and can decide to focus more on your Bitcoin investment and be more aggressive in it without panicking if an emergency comes by. Someone in your situation can decide to put 80% of their discretionary income into Bitcoin consistently and it would still be sustainable.

If someone already has an emergency fund before they decide the start buying and investing in bitcoin then it's to their own advantage because they wouldn't have to worry about setting up an emergency fund while investing but they can also decide to focus on the rest of the backup fund to make sure everything they will need is in place.
But at the end of the day what should take priority is the investment, as long as they've figured out their discretionary income the most important thing to do is to start investing, for those who don't already have an emergency fund they can start building their emergency fund alongside their investment but they should also make sure to not burn through their entire discretionary income on their investment and emergency fund, even if it's just 10% of their discretionary income they can set aside for their discretionary consumption while investing and setting up their emergency fund with the rest using whatever percentage they prefer.
One of the biggest mistakes a person can make is to decide to invest in bitcoin but build their emergency fund first before they can start buying bitcoin, it's fine if you haven't decided to become a bitcoin investor but if the decision to build up your emergency fund came as a result of wanting to invest in bitcoin then you bitcoin investment should be the priority with your emergency fund coming after it (preferably side by side).

[JayJuanGee]

I think, you should have read the replies on this thread before saying this because I believe that it has been repeatedly said here that you don't need to waste more time building an emergency funds before getting started when you can build both your bitcoin investment and your emergency funds at the same time in order to kick start your bitcoin investment immediately, you discretionary income is available. Instead, of piling up fiat for an emergency that may happen or not.

You may not have understood my point. What I said is "not just for investing in Bitcoin, even if someone does not invest, they should have an emergency fund".
And did I also say that there is no reason for a new Bitcoin investor to think about an emergency fund at the beginning because many investors already have an emergency fund. So when someone expresses their desire to invest in Bitcoin, they can use their discretionary income to start investing at any time. And if they do not have an emergency fund before investing, they can create an emergency fund along with the investment.
And that was the main point. Maybe I did not explain it or you did not understand.

I have been running DCA in Bitcoin for about a year and a half. But before starting investing, I had an emergency fund, I had created it long ago because even before investing, a person can face an emergency situation and then this emergency may need to be used. So when I started investing in Bitcoin, I did not have to think much about an emergency fund.

For me it doesn't make much sense at all to wait and not invest in Bitcoin but only keep buying cash for quite a long time in order to be able to save in an emergency. That's because over time cash loses value as a result of inflation. In other words it might be more sensible to not only save for emergencies but also start acquiring Bitcoin over time using DCA.

You have to keep some cash when you are investing in bitcoin to protect your bitcoin, and yeah, you do not need to build up your cash prior to getting started in bitcoin, since you can build up your bitcoin and your cash at the same time.

So even though cash is ongoingly losing value, we still need to build it up and keep it to protect our bitcoin... Guys get really fucked when  they are trying to keep all of their value in bitcoin and they have no flexibility from where to spend in cases that their income goes down and/or their expenses go up.. so it is great to have cash for those circumstances that can happen at any time, and as we build up our bitcoin we also build up our cash, and yeah many of us talk about building up cash to at least 3 months, yet I can understand that 3 months of cash seems like a lot, especially for guys still building their bitcoin holdings, so guys have to figure out some amount of cash to build up and surely it makes more and more sense to hold more and more cash as the amount put into the bitcoin holdings had grown over the years and also the bitcoin holdings might have had also grown in terms of appreciation.. and so guys have to figure out those balances, and when they get up to having had put in 1-2 years of their expenses in bitcoin and/or their bitcoin holdings had grown to those kinds of sizes, then guys might start to feel more and more justified to keep more cash or even to start to diversify into other assets that can serve like cash as back up funds to continue to protect their bitcoin as it hopefully continues to grow over the years, even though of course there are no guarantees that bitcoin holdings are going to continue to grow.. but we ongoingly put money in bitcoin with thoughts that over the 4-10 years or more the bitcoin will continue to grow in value.

It's good financial advice that you already have your emergency savings account in place before investing in Bitcoin. But if you took a long time to finish that fund you could have missed some investment opportunities in the Bitcoin market in between. Instead if you had started saving a small amount of your discretionary funds for Bitcoin and worked towards your emergency funds, you would be able to have a small amount of Bitcoin already in your possession as well as your emergency funds.

Yep.. these kinds of calculations make sense @BITBI-4.

...... we don't use all our discretionary income to invest rather we divide it into three different percentages, let say  45% 35% 20%. We can use the 45%to invest in bitcoin, 35 in building an emergency fund and 20%  for backup fund.

Huh?  You have two categories that are back up funds  35% emergency funds and 20% back up funds.  That is 55% into back up funds.  How does that make any sense?  Don't you know that emergency fund is a subset of back up funds?  And what about discretionary  consumption?  You are leaving discretionary consumption at zero?  Do you believe guys who invest in bitcoin should be monks? or that it is practical to not have any discretionary consumption expenses?  Yeah, sure, we can figure out some low amount, but surely not zero.  Zero discretionary consumption makes no sense.

By the way there are some guys who seem to not know the difference between basic expenses and discretionary expenses.  Think about it.  Basic expenses are things that you absolutely need to survive and perhaps out of practicality they have to be spent each week or month.  Discretionary expenses are things that you want or they make you feel good.   Let's say for example you need a phone that is practical for your work and other basics of modern living, so you need to be able to make calls, to send text messages and perhaps to look up some stuff on the internet.  So sure, you could buy a basic and dependable phone that costs you $200 and maybe it costs you $20-$30 per month for your data and/or service charges.  Alternatively if you buy a $1,800 phone, then you might be combining your wants into your needs, so you are purposefully choosing to spend more ($1,600 more) based on "wants" not "needs"  Wants are discretionary and needs are not.  Of course, if you incurred a loan to pay for your $1,800 phone over the next 4 months (let's say $450 per month), then your 4 payments that were partially based on wants and partially based on needs would end up becoming part of needs because there is a certain need to pay off loans at least up to the minimum monthly required payment... so even if they might have started from wants minimum monthly loan payments would tent to become needs rather than wants.

I wonder where he thinks beginners would get money for investment, perhaps who could be one of those who don't understand that the discretionary income is what's needed to start up and investment using any funds other than that would definitely attract future complications, maybe he forgot that settling necessities is more important before others including investment.

Getting money is one of the easiest things because you can always work, and from there you will be able to make money, and from there you can use your discretionary income to make proper use of it because most people don't even know how to make use of it, because most people don't know how to make proper use of their discretionary income and that way they will be able to put it in a better use.

You are likely correct that a lot of people do not know how to organize their finances very well, even though surely organizing finances does not need high levels of skills, but it may well need practice (and likely discipline, too).

You are wrong in your assumption that everyone can make enough money.  Many folks around the whole world struggle to earn a meaningful enough income to have sufficient discretionary funds, so it is a bit judgmental and likely wrong to presume that everyone is capable of earning a high income, when that is not true.

Understanding Bitcoin investment has nothing to do with rank, someone might have been in the forum for long but if the person doesn't have good understanding of Bitcoin investment such kind of statement is what you’ll hear from such person.

Status doesn't really matter because the investment is for everyone; as long as you can earn, you are good to go. You can even start small, and over time you can gradually increase, depending on your financial capability.

You are correct that there is value in starting out slow and growing into an investment, since whenever we make adjustments, we might not always know the impact of our adjustments until we have let the adjustments play out for a while, maybe if we have $100 in discretionary income every week, we might start with using $30 of that to buy bitcoin every week and then get used to it and to see how it plays out and maybe even think about if there might be ways to increase our discretionary income by increasing our income and/or cutting our expenses.

[BluebloodCXVI]

I wonder where he thinks beginners would get money for investment, perhaps who could be one of those who don't understand that the discretionary income is what's needed to start up and investment using any funds other than that would definitely attract future complications, maybe he forgot that settling necessities is more important before others including investment.

Getting money is one of the easiest things because you can always work, and from there you will be able to make money, and from there you can use your discretionary income to make proper use of it because most people don't even know how to make use of it, because most people don't know how to make proper use of their discretionary income and that way they will be able to put it in a better use.

I don’t know what makes you think that getting money is easy for everybody or that everyone has access to equal employment opportunities.

Even the people that jobs, in some cases can’t even cover their basic expenses cleanly not to talk of having discretionary income left to invest in bitcoin.
So don’t make it sound like people who struggle financially simply haven’t figured out how to work and earn money, when the reality is that earning an income and having discretionary income left are two different things.

Financial discipline is not gonna create money for you that wasn’t there in the first place even though it is important.

[Creeper0]

Sure, don't get me wrong, cash is important, but we likely need to be careful not to be overly emphasizing cash when there should be some value and importance in growing our bitcoin stash - perhaps even in an aggressive way, even though we may well need to build up our aggressiveness as our comfort level improves and we also don't want to go overboard in our aggressiveness and make mistakes of overdoing it.  Each of these are judgement calls, and each of us is in charge of figuring out our own balances so that we do not overdo it and also so that we don't underdo it.

There may be no reason to disagree with you. No matter how important a fund is, if it crosses the limit, it is harmful to the investment. When we are investing, each fund should be balanced. Considering the situation, we should give as much importance to the investment fund as necessary, and we should give as much importance to cash as necessary. We cannot deliberately give more or less importance to any fund, as this is more likely to destroy the balance of the investment.

Safety is definitely important, so we should not spend more than necessary for safety. On the other hand, giving more importance to the investment fund and ignoring cash also destroys the balance of the investment. We should be aware of the following financial situation and give the funds the necessary importance. You should spend as much as you need, invest as much as you can afford to lose and give cash as much importance as it can provide you with financial security in times of emergency without damaging other funds.

[Sobz]

Getting money is one of the easiest things because you can always work, and from there you will be able to make money, and from there you can use your discretionary income to make proper use of it because most people don't even know how to make use of it, because most people don't know how to make proper use of their discretionary income and that way they will be able to put it in a better use.

Getting money is not easy and some people who earn thinks what they earn is not enough to invest in Bitcoin and those who good income  still find it difficult to invest.  You need to understand investing in bitcoin is not about money because it is not a guarantee to invest that is why people who still have the money still give excuses why they haven't invest. The main thing is understanding how important bitcoin investment is, with this understanding one can be able to invest in Bitcoin no matter what they earn, it is about managing the income to have discretionary funds to invest in Bitcoin.  Getting money is not easy and if one has the privilege to make money it still doesn't make it easy to invest Bitcoin.

[The Founding Titan]

Sure, don't get me wrong, cash is important, but we likely need to be careful not to be overly emphasizing cash when there should be some value and importance in growing our bitcoin stash - perhaps even in an aggressive way, even though we may well need to build up our aggressiveness as our comfort level improves and we also don't want to go overboard in our aggressiveness and make mistakes of overdoing it.  Each of these are judgement calls, and each of us is in charge of figuring out our own balances so that we do not overdo it and also so that we don't underdo it.

There may be no reason to disagree with you. No matter how important a fund is, if it crosses the limit, it is harmful to the investment. When we are investing, each fund should be balanced. Considering the situation, we should give as much importance to the investment fund as necessary, and we should give as much importance to cash as necessary. We cannot deliberately give more or less importance to any fund, as this is more likely to destroy the balance of the investment.

Safety is definitely important, so we should not spend more than necessary for safety. On the other hand, giving more importance to the investment fund and ignoring cash also destroys the balance of the investment. We should be aware of the following financial situation and give the funds the necessary importance. You should spend as much as you need, invest as much as you can afford to lose and give cash as much importance as it can provide you with financial security in times of emergency without damaging other funds.

Why do you think we have backup funds, it's for the very reason, so that even when we are investing we will always have money available for other things and it goes beyond just our emergency fund, people are advised to have reserved fund as well as keep a cash float available, having these in place doesn't mean you are ignoring your investment but rather that you want to keep your investment safe so you have cushions in place so you don't ever have to sell your bitcoin before it's actually time to sell it.

Think about it this way, what would be the point of your investment if halfway through it something happens that leads to you having to sell because there was no other choice, your backup funds are there to make sure you don't ever have to sell when you don't have to

[sotelorene]

Getting money is not easy and some people who earn thinks what they earn is not enough to invest in Bitcoin and those who good income  still find it difficult to invest.  You need to understand investing in bitcoin is not about money because it is not a guarantee to invest that is why people who still have the money still give excuses why they haven't invest. The main thing is understanding how important bitcoin investment is, with this understanding one can be able to invest in Bitcoin no matter what they earn, it is about managing the income to have discretionary funds to invest in Bitcoin.  Getting money is not easy and if one has the privilege to make money it still doesn't make it easy to invest Bitcoin.

Of course nothing good comes so easily especially making money I mean it is one of the hardest thing if not the hardest thing in life but you are wrong, it is not everyone who earns money think what they earn is not enough to invest in Bitcoin because we all have different source of income and our capacity also differs and you can not conclude your earning will not be enough when you have not even taken care of your needs and see if there will be any leftover. Concluding without this stated above means lack of vision and you are not thinking positive and you will remain not having enough to invest, our thoughts, believe and action is very important in life.

[Saltysugar99]

Getting money is one of the easiest things because you can always work, and from there you will be able to make money, and from there you can use your discretionary income to make proper use of it because most people don't even know how to make use of it, because most people don't know how to make proper use of their discretionary income and that way they will be able to put it in a better use.

Getting money is not easy and some people who earn thinks what they earn is not enough to invest in Bitcoin and those who good income  still find it difficult to invest.  You need to understand investing in bitcoin is not about money because it is not a guarantee to invest that is why people who still have the money still give excuses why they haven't invest. The main thing is understanding how important bitcoin investment is, with this understanding one can be able to invest in Bitcoin no matter what they earn, it is about managing the income to have discretionary funds to invest in Bitcoin.  Getting money is not easy and if one has the privilege to make money it still doesn't make it easy to invest Bitcoin.

You are right. It is not easy to earn money for everyone. You may have a good job or the opportunity to work extra hours, but that does not mean that everyone else is in the same situation. There are many people, I see them all the time, who are unable to meet their essential expenses despite working hard. And even if the income is high, that person's discretionary income may not created. When there is a lot of expenditure to meet family expenses, house rent and other necessary responsibilities, then it becomes difficult to meet the necessary expenses despite the high income. And you have given more importance to understanding the importance of bitcoin. I understand what you mean, but the way you said this is confusing. Understanding the importance of bitcoin can help a person make an investment decision, but the main thing needed to invest is financial capacity. So even if you have a good idea about bitcoin, if you do not have a discretionary fund, bitcoin will not be of much benefit to that person.

[Different patterns]

You are trying to contradict yourself here. You said a new investor doesn't need to have his discretionary income before investing in Bitcoin now you are saying if his discretionary income is available he can start buying Bitcoin what are you trying to point out. Let's say you don't get it correctly, your discretionary income gives you the confidence to keep accumulating Bitcoin without fear of the happenings in the market. You have no fear because the amount you are using to invest is not something that you will need any time soon and if something happens that requires urgent expenses you can use your emergency funds to take care of it and not temper with your Bitcoin.

Having emergency funds is necessary as an investor it helps you not to depend on your investment money when you have any emergency that's why every investor should have it and not try to do any form of investment with it.

It is not mandatory that a newbies should have emergency funds before the can invest in Bitcoin, rather what they need is their discreationary income to start, then the can acumulate along with building their emergency funds, or are you advising that someone who has not started investing should first build an emergency funds before they can start investing, I'm not disputing the fact that emergency funds has a pivotal role it plays in protecting our Bitcoin investment specifically during an unexpected financial circumstances, for starters, discreationary income has to come first then emergency funds can follow cause they should start the investment before putting out measures to safeguard it.

I think that it makes more sense to think about and talk about building bitcoin and emergency funds at the same time, so that there is power within both, and yeah this is a bitcoin thread so there is a lot of importance in building the bitcoin holdings, but if there is not a cash cushion that is ongoingly getting built up at a similar rate that the bitcoin is growing, then there are risks (and perhaps unnecessary risks) that at any given time the investors income could go down and/or expenses go up, and if there is no cash cushion, the investor would be forced to tap into his bitcoin at a time that was not of his own choosing.. and yeah, it takes a long time to build up a bitcoin investment, such as 4-10 years or more and if guys are not realistically protecting their bitcoin investment by building and maintaining back up funds, then they are just rolling dice since many of us know that a lot of different things can happen (and perhaps are likely to happen) over a period of 4-10 years or more, and even if our backup funds are not going to save us from all levels of emergencies, it is likely going to save us from the almost guaranteed fluctuations that end up happening in income going down and/or expenses going up, and it surely would be preferable to NOT be forced into a situation in which bitcoin has to be spent, when there are options (like back up funds) that can be used to cover the various inevitable fluctuations that come from time to time, especially over a long period of time such as 4-10 years or more.

This is a very important investment strategy especially those that just started investing in bitcoin to note, because you will need to know how to guide your investment as much as guide your expenses during your investment. One of the best option of investment is stashing the bitcoin as you earn, instead of investing everything you earn, you can make a target to keep stashing the bitcoin as much as possible so that over the period of years that it will take for your investment, you will not be forced to sell your bitcoin investment because of financial constraints or so.

[BITBI-4]

Getting money is one of the easiest things because you can always work, and from there you will be able to make money, and from there you can use your discretionary income to make proper use of it because most people don't even know how to make use of it, because most people don't know how to make proper use of their discretionary income and that way they will be able to put it in a better use.

Getting money is not easy and some people who earn thinks what they earn is not enough to invest in Bitcoin and those who good income  still find it difficult to invest.  You need to understand investing in bitcoin is not about money because it is not a guarantee to invest that is why people who still have the money still give excuses why they haven't invest. The main thing is understanding how important bitcoin investment is, with this understanding one can be able to invest in Bitcoin no matter what they earn, it is about managing the income to have discretionary funds to invest in Bitcoin.  Getting money is not easy and if one has the privilege to make money it still doesn't make it easy to invest Bitcoin.

It is true that making money is not easy for everyone because not everyone has the same job opportunities and skills. There is no guarantee that you will be able to find a job easily or earn enough money if you have the desire to work or the mentality of working hard. Therefore it is not realistic to consider making money as an easy task for everyone.

On the other hand I think that there is no room to deny the importance of money when investing in Bitcoin. Having financial capacity for investment is definitely important because even if you have the desire to invest it is not possible to implement it if you do not have enough money. However having money alone is not enough it is also important to allocate money for investment according to your financial capacity. Just as money is needed for investment proper money management is also important. If someone does not invest even after having enough money in their hands it is their failure.

[Barikui1]

Why do you think we have backup funds, it's for the very reason, so that even when we are investing we will always have money available for other things and it goes beyond just our emergency fund, people are advised to have reserved fund as well as keep a cash float available, having these in place doesn't mean you are ignoring your investment but rather that you want to keep your investment safe so you have cushions in place so you don't ever have to sell your bitcoin before it's actually time to sell it.

Think about it this way, what would be the point of your investment if halfway through it something happens that leads to you having to sell because there was no other choice, your backup funds are there to make sure you don't ever have to sell when you don't have to

I agree with your statement here because the sole purpose of having a back up funds is to protect your bitcoin investment from any thing that may have made you sell or temper with it, because in your investment journey, you are definitely going to face some obstacles or challenges that may threatens your investment, but what keeps your investment afloat is your entire back up funds, from emergency funds meant to take care of only emergency situation, to your reserve funds that is quite flexible, that can be used for anything that bring to the growth and progress of your bitcoin investment. So for a successful investment, an investor needs to have his back funds in place in other not to be forced into selling when he never wanted to.

[UpTober]

It is not mandatory that a newbies should have emergency funds before the can invest in Bitcoin, rather what they need is their discreationary income to start, then the can acumulate along with building their emergency funds, or are you advising that someone who has not started investing should first build an emergency funds before they can start investing, I'm not disputing the fact that emergency funds has a pivotal role it plays in protecting our Bitcoin investment specifically during an unexpected financial circumstances, for starters, discreationary income has to come first then emergency funds can follow cause they should start the investment before putting out measures to safeguard it.

I think every person should have an emergency fund before planning an investment because it is not the case that he needs an emergency fund at the time of investment. An emergency situation can arise at any time from birth to death and an emergency fund is needed at any time to use this time, so I think that when a person starts investing in Bitcoin using his discretionary income, he will already have an emergency fund. What needs to be done in this case is to add money to the emergency fund. And invest in Bitcoin from discretionary income.
When there is an emergency fund along with the investment fund, the investment fund is very safe. When a person is in an emergency situation, he needs money and if this money is available from the emergency fund, he does not need to touch any other fund. That is, the emergency fund protects the Bitcoin fund. However, when an amount equivalent to meeting the basic needs of at least three months is deposited in a person's emergency fund, then someone can reduce the supply of money in the emergency fund and increase the DCA of Bitcoin if they want. That is, then there is an opportunity to buy a little more aggressively than before.

For a person who has a certain job and a fixed amount of money is deposited in his account at the end of the month, it may be a good idea to prepare an emergency fund equal to at least three months of basic expenses, but for those whose income is not consistent or who do not have a job guarantee, you have to think differently. For example, a freelancer, a freelancer's income is not fixed, sometimes he earns a lot and sometimes he does not have any work, so if these freelancers want to invest, they will need to have a different plan for preparing an emergency fund.
A different plan means that when they have more money, they will deposit a relatively larger amount as an emergency fund, so that this emergency fund will be of great use to them at that time when they have less work. And yes, the investor should always try to continue investing with his discretionary income. Because when an investor tries to invest consistently with his discretionary income, he will be able to continue that investment consistently for a long time without additional stress.

[Agbam]

Someone don't need to have a fully built discretionary income before they start accumulating bitcoin, though it no doubt that an emergency situation can happen at time, that is the more reason forks need to  start building there emergency fund at the same time while accumulating bitcoin..and that is one of the most important reasons why we don't use all our discretionary income to invest rather we divide it into three different percentages, let say  45% 35% 20%. We can use the 45%to invest in bitcoin, 35 in building an emergency fund and 20%  for backup fund.

People don’t build discretionary income they sort it out, what is being built is the back up funds.. maybe it was a mistake you put it that way.

Your sharing formula is also wrong, you don’t separate emergency funds from backup funds. The emergency is a part of the backup fund which also includes the reserves. Your discretionary funds is used for investing, savings (backup funds) and discretionary spending (where you satisfy your wants). You can’t neglect any one though you may prioritise one above others according to your financial situation.

[Dxdiax26]

~Snip~

I agree with your statement here because the sole purpose of having a back up funds is to protect your bitcoin investment from any thing that may have made you sell or temper with it, because in your investment journey, you are definitely going to face some obstacles or challenges that may threatens your investment, but what keeps your investment afloat is your entire back up funds, from emergency funds meant to take care of only emergency situation, to your reserve funds that is quite flexible, that can be used for anything that bring to the growth and progress of your bitcoin investment. So for a successful investment, an investor needs to have his back funds in place in other not to be forced into selling when he never wanted to.

The most important thing in protecting Bitcoin investments is having backup funds. We never know when a situation will occur. Having an emergency fund will make us safer in managing or protecting our Bitcoin investments.

Our journey in Bitcoin investing isn't always easy, so preparing ourselves to have a reserve fund is crucial to anticipate any eventuality that might require us to sacrifice our investment by selling without prior planning. Before such an event occurs, I believe it's appropriate for those investing in Bitcoin to have a reserve fund to protect the Bitcoin investment we're building and our portfolio for the future.
Furthermore, I strongly agree with your suggestion that if we've made all the necessary preparations, it would be beneficial if we want our Bitcoin investment to continue growing. Having additional income is certainly a must, and the method depends on each individual. Whether we should have more than one job is a personal choice.

[abaeze]

For a person who has a certain job and a fixed amount of money is deposited in his account at the end of the month, it may be a good idea to prepare an emergency fund equal to at least three months of basic expenses, but for those whose income is not consistent or who do not have a job guarantee, you have to think differently. For example, a freelancer, a freelancer's income is not fixed, sometimes he earns a lot and sometimes he does not have any work, so if these freelancers want to invest, they will need to have a different plan for preparing an emergency fund.

Agreed, however, I don't think that everyone should have a three-month emergency fund before starting to invest in Bitcoin. A person can create an emergency fund according to their financial situation as well as depositing Bitcoin. If someone's income is limited, he may not be able to save a large sum of money at once. But what is left after meeting daily essential expenses will be a great investment if saved for a long time. However, do not invest the money that may be needed for daily living or emergency needs. Because if there is no sufficient emergency fund, an investor may have to sell Bitcoin at a loss in adverse market conditions due to a sudden financial crisis. That is why emergency funds are discussed so seriously. So in my view, the goal should be to create financial security as well as continuously deposit Bitcoin according to one's ability.

However, the right balance between investment, savings and personal expenses will depend on the stability of the person's income, family responsibilities, current savings and overall financial situation, which varies from person to person.

[laspol65]

but what keeps your investment afloat is your entire back up funds, from emergency funds meant to take care of only emergency situation, to your reserve funds that is quite flexible, that can be used for anything that bring to the growth and progress of your bitcoin investment. So for a successful investment, an investor needs to have his back funds in place in other not to be forced into selling when he never wanted to.

Emergency funds are very important for Bitcoin investment, which helps your Bitcoin investment to last for a long time in the future. Everyone can invest in Bitcoin, but it is necessary to discuss how many people can achieve success. It is not enough if we are attracted to Bitcoin investment, but it is important to follow the strategies to sustain Bitcoin investment in the future. Because if you save Bitcoin for a long time and do not follow the strategy correctly, you will fail, so if you fail, you will definitely blame Bitcoin.
So so that you cannot blame anyone, you must follow your own strategy and basic strategies, so that your Bitcoin investment can last for a long time in the future.

[Ashawowo(OS)]

The main thing is understanding how important bitcoin investment is, with this understanding one can be able to invest in Bitcoin no matter what they earn, it is about managing the income to have discretionary funds to invest in Bitcoin.  Getting money is not easy and if one has the privilege to make money it still doesn't make it easy to invest Bitcoin.

If an investor earnings is not sufficient for his expenses, not to mention having discretionary income from it, then he would not be able to invest. If he does, then he is investing wrongly. Someone can earn but not be able to invest. Investing into bitcoin should be only from your discretionary income, so until an investor identifies to having such, he is not fit to invest, if he goes ahead and invests, then when the need arises, he would still have to sell his portfolio to meet up, that would be gambling since bitcoin might be lower than his entry point and he sells at a loss.

An investor without discretionary income would still have to workaround his finances or attempt managing his finances properly to reduce expenses so he can get discretionary income from which he can invest as well as build backup funds to protect his investment from emergencies.

[Chilwell]

but what keeps your investment afloat is your entire back up funds, from emergency funds meant to take care of only emergency situation, to your reserve funds that is quite flexible, that can be used for anything that bring to the growth and progress of your bitcoin investment. So for a successful investment, an investor needs to have his back funds in place in other not to be forced into selling when he never wanted to.

It is not necessary you should have your emergency fund ready but start your investment and build that emergency funds gradually. Having your discretionary income is what can guarantee your investment for a very long term. Split your discretionary income into three to allow you have a very good investment, from this income you will have your investment, emergency fund and also discretionary consumption. With this you can be able to stay as long as you want because you have set aside a very good strategy that will allow you to  accumulate bitcoin.

[ruykeri]

but what keeps your investment afloat is your entire back up funds, from emergency funds meant to take care of only emergency situation, to your reserve funds that is quite flexible, that can be used for anything that bring to the growth and progress of your bitcoin investment. So for a successful investment, an investor needs to have his back funds in place in other not to be forced into selling when he never wanted to.

Emergency funds are very important for Bitcoin investment, which helps your Bitcoin investment to last for a long time in the future. Everyone can invest in Bitcoin, but it is necessary to discuss how many people can achieve success. It is not enough if we are attracted to Bitcoin investment, but it is important to follow the strategies to sustain Bitcoin investment in the future. Because if you save Bitcoin for a long time and do not follow the strategy correctly, you will fail, so if you fail, you will definitely blame Bitcoin.
So so that you cannot blame anyone, you must follow your own strategy and basic strategies, so that your Bitcoin investment can last for a long time in the future.

You are right, keeping an emergency fund is important when investing in bitcoin. It is important to hold bitcoin for the long term and to form an emergency fund to accumulate bitcoin regularly. There is no way to predict when an emergency situation may arise for a person. So, some funds should be kept for that period so that one does not have to sell bitcoin directly. Suppose a person has been accumulating bitcoin every week from his discretionary income for the last 4 years and his plan is to extend this period. Then if his income suddenly stops then it will take time for him to create a new income source. So that his necessary expenses can be met during that time, it is good to keep a fund equal to 3 to 6 months of expenses aside which creates a positive effect in investing in bitcoin. I also think that a big advantage of backup funds is that it puts an investor in a good financial position to maintain his plan during market volatility. Because if the necessary money was invested, then naturally that investor would not be able to control himself when he saw the price of bitcoin falling. Because there are many necessary needs involved in his investment in bitcoin.

[RockBell]

Getting money is not easy and some people who earn thinks what they earn is not enough to invest in Bitcoin and those who good income  still find it difficult to invest.  You need to understand investing in bitcoin is not about money because it is not a guarantee to invest that is why people who still have the money still give excuses why they haven't invest. The main thing is understanding how important bitcoin investment is, with this understanding one can be able to invest in Bitcoin no matter what they earn, it is about managing the income to have discretionary funds to invest in Bitcoin.  Getting money is not easy and if one has the privilege to make money it still doesn't make it easy to invest Bitcoin.

Getting money is not easy, and income matters a lot. Even those who are earning well are still struggling to invest, and that is why, if you want to invest, then you will have to be ready to make sacrifices because even with little you can still accomplish a lot it just depends on the usage because we can not continue to spend money we have to plan, and that is what is going to make a difference, so we must spend money on relevant things, and that is why we can use discretionary income that way we can invest it instead of using it for something else and there better ways we can archive something through the dca and having a good amount is not that bad no matter how little you are starting with.

Of course nothing good comes so easily especially making money I mean it is one of the hardest thing if not the hardest thing in life but you are wrong, it is not everyone who earns money think what they earn is not enough to invest in Bitcoin because we all have different source of income and our capacity also differs and you can not conclude your earning will not be enough when you have not even taken care of your needs and see if there will be any leftover. Concluding without this stated above means lack of vision and you are not thinking positive and you will remain not having enough to invest, our thoughts, believe and action is very important in life.

 Capacity might be different, but no matter how little it can be invested, that is the mistake we are all making we think we can not be able to invest that is a lie everything is about how you plan and when you plan well then you will be able to solve a lot of those problem of investing and you dont have to use everything you are earning but as little as you can using the dca method then you are good to go the important thing is when there is a source of income then the discretionary income can be used.