JJG’s Outline of Bitcoin Investment Ideas

[IceLincoln]

he can use $35 for his and $15 to his emergency funding. With this the investor is well position for any uncertain emergence in the future that could have threaten the continuity of his investment in the absence of an emergency funds.

You seem to neglect the importance of discretionary needs. There should be some provision for discretionary consumption so that the investor doesn't starve himself of having some fun or relaxation because he is investing into bitcoin, this might make bitcoin investment seem more like a struggle and choking for the investor, the investor should not be overly serious because he got into bitcoin.

I would suggest he invests $25 into bitcoin, $15 into emergency fund and $10 as discretionary consumption. This would help him live a balanced life amidst investing into bitcoin and preparing for emergencies.

I think that some people forget discretionary spending because they want to sound too smart or too Bitcoin invested. It’s very good to prioritise Bitcoin investments but we shouldn’t totally neglect the other aspects of our life or financial management. We still have to consider them even if it’s small amounts or percentage of our discretionary income.
I know as investors, there are some weeks we can do without discretionary spending on fun activities but there are still other things aside fun that counts as discretionary spending like our data subscription, so there’s need not to totally ignore it.

[Futurexxx]

. Emergency funds should be kept in cash.

Not just in cash, but some of it should also be kept in the bank for security purposes, because it's quite dangerous to be having a large amount of money kept in cash , since it may attract robbers to your home, if news get out that you have such amount of money on you. The only reason all the money should not be kept in the bank is that you can be locked out by your bank during emergencies, which is why some of it is kept in cash, just in case of such thing playing out, but be rest assured that keeping your emergency funds in fiat currency is the best.


 

[Obulis]

It's not a must that a brand new investor should have discretionary income before starting his bitcoin investment so that, he doesn't waste more time as a no coiner. Provided that your discretionary income is available, you can start buying bitcoin right away and build your emergency funds simultaneously with your bitcoin investment.

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.

For clarity, discretionary funds are absolutely needed to invest in bitcoin, since we should not be trying to invest in bitcoin with non-discretionary funds.

Of course, if guys have sufficient back up funds, then from time to time they could invest into bitcoin beyond their discretionary funds, but then they would be reliant upon drawing from their back up funds to cover basic expenses, which would tend to be a bad practice unless they just happen to have a lot of back up funds that are available to them.

And, by the way, a person might start out investing in bitcoin with little to no back up funds, and they likely are going to be needing to build up their back up funds at the same time that they are accumulating bitcoin, yet if they had been investing a while into bitcoin and also building up their back up funds at the same time, then it may well be the case that they have more wiggle room to sometimes make mistakes and/or to invest into bitcoin beyond their discretionary funds because their back up funds are sufficiently large to make sure that they have enough money for basic expenses in case some basic expenses need to be paid prior to their next paycheck. 

At the same time, many guys have attempted to warn other members to be careful in their tapping into their back up funds and/or their reliance on their back up funds to buy bitcoin, since it may well end up being the case that they are overly depleting their back up funds, and so if in the near future they end up having loss of income and/or increases in their expenses, then they may well find that they had been overly fucking around and that they end up not having enough money to cover their expenses, and they end up having no choice but to tap into their bitcoin at atime that was not of their own complete choosing.

This makes it very reasonable not to just copy and paste what others are doing those with their sufficient backup funds without proper or detailed personal examination of that to see how best it suits you at the time being. That is you can't just touch your backup funds because your friend or family has resorted to the use of their backup funds, resorting to use backup funds can happen for several unhealthy reason like the "copy and paste" (applying what your right hand persons are doing).
Discretionary funds should keep doing it's well done job until there's an obvious need to touch the backup funds, all that is to avoid the situations whereby tapping into your Bitcoin will not be a choice to resolve the situation.

[obuoma]

I think that some people forget discretionary spending because they want to sound too smart or too Bitcoin invested. It’s very good to prioritise Bitcoin investments but we shouldn’t totally neglect the other aspects of our life or financial management. We still have to consider them even if it’s small amounts or percentage of our discretionary income.
I know as investors, there are some weeks we can do without discretionary spending on fun activities but there are still other things aside fun that counts as discretionary spending like our data subscription, so there’s need not to totally ignore it.

After reading the comments of others especially on the discretionary spending, I have come to learn that it is very important aspect of the process that will make the investment process not to become a thorn in our flesh. In mean that we must not sacrifice our passion, things that make us feel happy and hopeful which may not fall into the basic things for the sake of investing in Bitcoin. They can be covered under the discretionary spending, hence we have to make plans for that too while keeping the protective funds that will protect our investment. I'm happy to learn a new thing in that regard.

[G_Besar]

. Emergency funds should be kept in cash.

Not just in cash, but some of it should also be kept in the bank for security purposes, because it's quite dangerous to be having a large amount of money kept in cash , since it may attract robbers to your home, if news get out that you have such amount of money on you. The only reason all the money should not be kept in the bank is that you can be locked out by your bank during emergencies, which is why some of it is kept in cash, just in case of such thing playing out, but be rest assured that keeping your emergency funds in fiat currency is the best.

Since the goal is to address life's emergencies, choosing fiat cash is clearly a good option. But if that's not the case, other options might be much better. As for saving these funds, of course, everyone can separate them into several options, including a smaller amount via bank transfer. The rest can simply be put into Bitcoin as a future investment, although the risks should be fully understood, as any investment nowadays carries a fairly balanced risk.

[JayJuanGee]

[edited out]

I agree that market volatility should not be used as a reason to have a part of your emergency fund invested in Bitcoin. But, the stablecoins are not entirely risk-free either, as they pose issuer, depegging and access risks. Some cash or bank account is there to help if an emergency occurs. Ideally, you should be investing funds that you can afford to let sit for years and not use next month, when investing in Bitcoin. The true advantage of an emergency fund is not only that it pays for unforeseen expenses but it will also save you from having to sell off your bitcoin in a bear market.

You seem to have the various ideas of back up funds and/or emergency funds correct @#CapsLOck.  Accordingly, the general idea of back up funds is to have the funds available (liquid) in the same currency that bills are paid, and more or less non-volatile.. and yeah, some folks may also keep money in other currencies, such as the dollar, even though they may or may not be able to directly use their dollars locally.

The more back up funds a person has, then the more variation that they could have in how they are holding them, even though surely each person runs the risk of how much they might keep in each form, since almost any form of keeping back up funds could run risks in regards to the extent to which it remains liquid and/or non-volatile relative to local currencies.

Surely part of the reasons that emergency funds are not kept in bitcoin relate to bitcoin being volatile relative to local currencies, and we are investing into bitcoin partially banking on bitcoin's volatility to the upside.. .Bitcoin tends to be relatively liquid, yet that is not necessarily a positive if normies end up being easily tempted into tapping into it at a time that they probably should not be doing such things, even though sometimes mistakes are made and regrets come at later points down the road.

So yeah, we have general rules that we may well create for ourselves in regards to how to build and manage back up funds, and we may well have more options as we grow our back up funds, yet also we may well end up having to balance our back up funds in various ways that might not be completely comfortable during the early stages of our building up of our wealth, yet we still have to try to employ our best judgement in our choice of our balances, since if we end up screwing up, then we have to pay the price of our screw ups, and screw ups are not necessarily only in one direction, since we can screw up by overinvesting into bitcoin and/or underinvesting into bitcoin, yet we might not know (or realize) our mistake(s) until several years down the road (maybe 4-10 years or longer?).

[Jostern]

. Emergency funds should be kept in cash.

Is it really important how you keep your emergency funds ?, I think you can decide to keep it in fiat or you want to keep it in bitcoin, the most important thing is that when you have an emergency that you need money  will have the opportunity of having access to your money, having a back up funds is important, if you want to be keeping your emergency and backup funds in cash is also good, it’s essential to have access to that money all the time because you absolutely don’t know when you’re going to have an emergency to use the money.

[MusaPk]

It is no doubt that everyone as a newbie coming into Bitcoin investment are not the same. Some are coming with zero knowledge of Bitcoin and/or emergency funds, while some too must have been investing in other things such as gold or real estate or whatever, and they are coming into Bitcoin with an already existing emergency funds, so they might tend to react to setting up emergency funds differently like the ones who are just coming in without any na k up funds.

Whichever way, emergency funds are important, and must be built since it's very important. However, the fresh Bitcoin investor with zero emergency funds must ensure to start building his back up funds immediately and simultaneously alongside his investment. On the other hand, the investor who already has some built up emergency funds prior to joining Bitcoin investment might exercise some liverage and pay much attention to buying more Bitcoin and putting little amounts into his emergency funds. In all, emergency funds must be kept readily available.

Hypo 13, 14 and 15 are a great help in understanding who needs to focus on aggressive Bitcoin accumulation and who needs to build his emergency funds in addition to bitcoin accumulation. One thing that should be very clear is that if you have zero emergency funds then you must build them along with investing in Bitcoin but don't delay investing in Bitcoin due to emergency funds. Once you have sufficient emergency funds in place then one can focus on increasing his funds for buying Bitcoin.

Likewise if we move to Hypo 10 to 12 then they gave us idea of people who have been investing different amount in Bitcoin for last few years and the one who now have adequate number of Bitcoins can continue following DCA on buying the dip only. While those who are yet far from having adequate number of Bitcoins in there portfolio must continue the aggressive buying approach until they have good number of Bitcoins in there portfolio. After that they can decide about how much money should be enough for normal accumulation of Bitcoin. 

I appreciate that you are grappling with the various Hypothetical examples, since they can be very helpful for guys to attempt to understand how various investing approaches might play out depending on whether guys are aggressive or not and also depending on how much financial resources that any guy might be able to muster up.

If you are referring to the hypotheticals, as a courtesy to other members, you should provide the link so that they can easily find your reference.

If you read my initial post where I talked about Hypo-15, there I provided the link to Hypo-15. I do agree that I missed to do that in my subsequent post. I will make sure that I will properly reference every HYPO or other relevant data in my posts from now onward and I have already started that practice from my above reply.

[Gragebox]

Since the goal is to address life's emergencies, choosing fiat cash is clearly a good option. But if that's not the case, other options might be much better. As for saving these funds, of course, everyone can separate them into several options, including a smaller amount via bank transfer. The rest can simply be put into Bitcoin as a future investment, although the risks should be fully understood, as any investment nowadays carries a fairly balanced risk.

A forward-looking investment plan should not affect the quality of our current life by purchasing Bitcoin, however we additionally need to ensure it does not make our future life terrible. Endurance is doing an extreme task of overwhelming.

Discretionary spending does not have to be necessarily squandered. Spending moderate sums on leisure, entertainment, and family time can be a healthy expense for a budget. The point is to do so in a responsible pre-approved amount, not to blow it on a whim and steal from vital services and savings.

In my view, emergency funds should take precedence over aggressive investing. We never know when an unexpected bill may hit, and we want investors to hold onto Bitcoin rather than sell it at a time that's bad for the market.

Long-term investing takes discipline, but discipline doesn't have to mean throwing all your money into the market. Discipline means sticking to a reasonable plan that you can continue through hard financial times and market downturns. Bitcoin should be part of the overall financial picture, not the driver of every dollar you spend.

The perfect investment strategy is to steadily increase our wealth, and yet have enough right now to still lead a good life.

[Xackie]

. Emergency funds should be kept in cash.

Is it really important how you keep your emergency funds ?, I think you can decide to keep it in fiat or you want to keep it in bitcoin, the most important thing is that when you have an emergency that you need money  will have the opportunity of having access to your money, having a back up funds is important, if you want to be keeping your emergency and backup funds in cash is also good, it’s essential to have access to that money all the time because you absolutely don’t know when you’re going to have an emergency to use the money.

Keeping your emergency funds in bitcoin doesn't sit well with me, I think keeping it as fiat is a better option. Bitcoin price could all of a sudden drop by 30% and if you have your emergency funds kept inside, you might have  to sell at a loss when an emergency comes up. By the reduction of bitcoin price, your emergency funds might not be enough to cover the unexpected expenses, which could still push you into tapping into your main bitcoin investment. We also have to look at accessibility as another factor, it might take you time convert your bitcoin into your local currency especially if its  a matter of urgency that requires immediate action takes places. Although keeping money in fiat also has its own downside which is inflation that could reduce your purchasing power and others, but regardless of it  emergency funds should be left alone in fiat,  because their main purpose is to provide financial security when unexpected expenses arise, not to expose you to market volatility.

[Franctoshi]

. Emergency funds should be kept in cash.

Why would you even keep emergency funds in cash? That alone can render it not worth an emergency funds because you can get tempted to spending it. Just keep it where you can access it when needed but not where that can render it not useful for the purpose when it's needed. However, regardless of whichever method that you choose, it  won't be a problem if you can keep it safely for the purpose.

Is it really important how you keep your emergency funds ?, I think you can decide to keep it in fiat or you want to keep it in bitcoin, the most important thing is that when you have an emergency that you need money  will have the opportunity of having access to your money, having a back up funds is important, if you want to be keeping your emergency and backup funds in cash is also good, it’s essential to have access to that money all the time because you absolutely don’t know when you’re going to have an emergency to use the money.

[Ruttoshi]

Is it really important how you keep your emergency funds ?, I think you can decide to keep it in fiat or you want to keep it in bitcoin,

Yea, it's really important in which currency you keep your emergency funds for easy access and to also maintain the value. If you have read through from the previous pages, you would have seen the reason why emergency funds should be kept in cash or USDT or in both form because they are stable.

the most important thing is that when you have an emergency that you need money  will have the opportunity of having access to your money

Nobody is saying that you wouldn't have access your money but what we are talking about is quick access the moment you are hit with real life emergency. If you keep your money in bitcoin, it's very risky because bitcoin is a volatile asset and if you are hit with emergency during the bear market, you will be forced to sell part of your bitcoin investment to make up the actual amount for that emergency if ordinarily, the money was in fiat, it will be able to cover up for the expenses.

 Imagine, that you lost your job during the bear market and it took you three months to get another job, you would have feasted on your bitcoin investment. This is why putting your emergency funds in bitcoin is like gambling to me.

[Princess Leah]

Nobody is saying that you wouldn't have access your money but what we are talking about is quick access the moment you are hit with real life emergency. If you keep your money in bitcoin, it's very risky because bitcoin is a volatile asset and if you are hit with emergency during the bear market, you will be forced to sell part of your bitcoin investment to make up the actual amount for that emergency if ordinarily, the money was in fiat, it will be able to cover up for the expenses.

 Imagine, that you lost your job during the bear market and it took you three months to get another job, you would have feasted on your bitcoin investment. This is why putting your emergency funds in bitcoin is like gambling to me.

Saving the emergency funds in Bitcoin is like gambling with safety, Bitcoin is a volatile asset and can go dip when you least imagine noticing that your emergency funds has dropped so bad and can't tackle an emergency situation that just happened, the person would end up selling at lost to cover up cost.

 Emergency situations don't give us time of when they'll happen neither would it wait till the market goes higher before happening, it can happen anytime so an investor needs to be fully ready to handle it, that's why it should be saved in Fiat not Bitcoin due to how very volatile Bitcoin is.

[sotelorene]

Why would you even keep emergency funds in cash? That alone can render it not worth an emergency funds because you can get tempted to spending it. Just keep it where you can access it when needed but not where that can render it not useful for the purpose when it's needed. However, regardless of whichever method that you choose, it  won't be a problem if you can keep it safely for the purpose.

Your first line of sentence is not really true or correct per say because I think keeping our emergency funds in cash is the best since it will help us access it as soon as possible without any delay and for your information, someone who is discipline will never have a thought or will never be tempted to touch their emergency funds because they understand the importance of it and the consequences of tampering it. I don't know if you are suggesting in keeping emergency funds in bank but I can not advise because you can not access money in bank anytime because there are bodies and regulations and you can be restricted temporarily but I like this last statement you made " whichever method that one chose, it won't be problem if it is safe" because the most important is safety of it.

[Grease5000]

Why would you even keep emergency funds in cash? That alone can render it not worth an emergency funds because you can get tempted to spending it. Just keep it where you can access it when needed but not where that can render it not useful for the purpose when it's needed. However, regardless of whichever method that you choose, it  won't be a problem if you can keep it safely for the purpose.

Am emergency fund can be kept in whatever form the investor prefers most, it can be in cash or saved in an account. However way an investor it is reserved doesn't make more  or less an emergency fund as  long as it still serve it main purpose. The most important thing is know the reason you are building an emergency fund and holding on to it.

And don't forget that in the  early days before the invention of modern way of saving money people use people use  save money in the home and just like I said earlier the most important thing is know the reason why you are building an emergency fund and holding on to it.

And I think you are a bit confused because your initial message seem to contradict with the finish line  which could mislead newbies.

[Female King]

This is exactly what greed does to people, even though they may know that investing their emergency fund in bitcoin put them at a disadvantage if the price of bitcoin falls when an emergency hits , but their greed won't allow them. If an emergency hit when bitcoin price is decreasing, the value of that emergency fund may likely not be adequate to cover for that urgent need at that moment and you may even have to sell the whole of your investment to covered for that need. Emergency fund should instead be saved in stable coin while a portion of it should be save in the bank and in cash for quick access just incase the bank delays your withdrawal, you can rely on the other available options to avoid being stranded or frustrated.

Why does a person create an emergency fund? Of course, to deal with emergency situations. When a person feels the need to create an emergency fund, I don't think he will later intend to use the Uttara Fund for anything other than emergency work.
Investing in Bitcoin is not a greed, it is a necessity, but you need to make sure that you are walking on the right path to reach the goal for which you are investing in Bitcoin. When a person feels that the amount of money that he needs to deal with an emergency in his life has already been accumulated, he can reduce the amount of money in the emergency fund and create a separate fund and name it "fund to buy in DIP". Yes, this can be a very effective way to grow the investment portfolio, but I would not advise any investor to invest using the emergency fund even if the price drops.
There is a saying that it is harder to maintain freedom than to achieve it. Yes, since you are holding Bitcoin, if you want to take the Bitcoin to a certain price, you may need to wait a long time, so you have to ensure that you do not have to sell your Bitcoin portfolio at that time. That is why people say to create an emergency fund so that if an emergency arises, you do not need to sell your Bitcoin fund.

I agree that market volatility should not be used as a reason to have a part of your emergency fund invested in Bitcoin. But, the stablecoins are not entirely risk-free either, as they pose issuer, depegging and access risks. Some cash or bank account is there to help if an emergency occurs. Ideally, you should be investing funds that you can afford to let sit for years and not use next month, when investing in Bitcoin. The true advantage of an emergency fund is not only that it pays for unforeseen expenses but it will also save you from having to sell off your bitcoin in a bear market.

Nothing should even make any one to use their emergency funds and invest in bitcoin doing so means using your emergency funds wrongly. Emergency funds is what that protect our bitcoin for not getting sold off when an emergency take place, the tortoise shell is what that covers it not to easily get hurt that is how our emergency funds is when investing in bitcoin. Emergency can come unexpected so we need to keep it always available and use our discretionary income when buying bitcoin and not the emergency funds using your our emergency funds to invest in bitcoin is properly gambling.

[Agbam]

. Emergency funds should be kept in cash.

Is it really important how you keep your emergency funds ?, I think you can decide to keep it in fiat or you want to keep it in bitcoin, the most important thing is that when you have an emergency that you need money  will have the opportunity of having access to your money, having a back up funds is important, if you want to be keeping your emergency and backup funds in cash is also good, it’s essential to have access to that money all the time because you absolutely don’t know when you’re going to have an emergency to use the money.

Yes of course, it’s really important how you store your emergency funds. Emergency fund are used to solve your unexpected expenses and so it’s very necessary to keep in a ready to use account. You can’t keep it in bitcoin because you don’t know when emergency may arise and the price of bitcoin may not be favourable.

It is more better to save your emergency in fiat in a traditional bank and some in cash, reason being that some banks can be funny and they may choose to frustrate you on a day you’re actually in need.

There was a movie where the guy had an emergency (life threatening case) but was restricted access to his bank accounts due to an issue which by bank standards will take 3 working days. The whole thing turned chaotic at the end. He wasn’t able to pay for his daughter’s deposit while he had the money sitting in his bank account. If he had cash saved somewhere that could have saved him some stress and bought him some time too.

[SmartCharpa]

. Emergency funds should be kept in cash.

Why would you even keep emergency funds in cash? That alone can render it not worth an emergency funds because you can get tempted to spending it. Just keep it where you can access it when needed but not where that can render it not useful for the purpose when it's needed. However, regardless of whichever method that you choose, it  won't be a problem if you can keep it safely for the purpose.

In my opinion, some people prefer to keep their emergency funds in somewhere safe and available to use in case of any unexpected problems. Depending on how you can manage your money, keeping your money in cash doesn’t mean you will spend it like that. We have people who can promise themselves not to use money for any reason, unless for what it was saved for.

in my country, some people prefer to keep their money in banks, if there’s any medical emergency that requires money, some hospitals do not accept cash, you may need to make a payment using your atm card.

While some emergencies require cash, and you may experience network issues at any moment. For me, the best thing is to keep emergency funds anywhere you can easily get them when needed, and ensure they remain safe and use it for just unexpected situations.

[Homemade-IQ]

While some emergencies require cash, and you may experience network issues at any moment. For me, the best thing is to keep emergency funds anywhere you can easily get them when needed, and ensure they remain safe and use it for just unexpected situations.

The very essence of all this debate is where is best suited for easy access when emergency situation comes. Having your emergency funds in the bank and in cash is not a bad idea, because if the situation at hand needs fast transfer of cash, you can do that with ease from your bank app, and if the situation demands raw cash, it will still be available, but I think that the main reason we should also keep our emergency funds in cash is that our bank network may be bad, and we might not be able to withdraw or transfer money that important time of emergency, so at that moment what will save you is your emergency funds you kept in cash, so it's very important that it is also available in cash for easy access.

[JayJuanGee]

-snip-

This is exactly what greed does to people, even though they may know that investing their emergency fund in bitcoin put them at a disadvantage if the price of bitcoin falls when an emergency hits , but their greed won't allow them. If an emergency hit when bitcoin price is decreasing, the value of that emergency fund may likely not be adequate to cover for that urgent need at that moment and you may even have to sell the whole of your investment to covered for that need. Emergency fund should instead be saved in stable coin while a portion of it should be save in the bank and in cash for quick access just incase the bank delays your withdrawal, you can rely on the other available options to avoid being stranded or frustrated.

The primary reason for having an emergency fund is its immediate usage in case of emergencies rather than trying to make money out of it. It would be highly foolish to have an emergency fund in Bitcoin since in the case of a emergency, the market will fall, and half of your savings will vanish into thin air.

Secondly you talked about the stablecoin that was not volatile than Bitcoin but still was not totally safe. There were cases of de pegging and even freezing of exchange account in the past. In addition, it takes a lot of effort and time to liquidate cryptocurrencies in order to pay a emergency or hospital bill in the middle of the night.

So in my view, the whole emergency fund should be held in easy accessible fiat money. One should keep a portion of it in the bank and some in cash form. Bitcoin is very suitable for investing for the long term but not tomorrow's emergency.

You are generally correct that back up funds (emergency funds) can be kept in various kinds of shitcoins (such as stable coins), yet we are not tending to talk about shitcoins in this thread, so likely you seem to be referring to offsetting the bitcoin investment with stable coins, even though you did not really specify what you are talking about.

Whenever guys are referring to "crypto" they better be more specific , so that guys are not mislead about what they are talking about since we are talking about bitcoin in this thread, and of course, many times we are referring to cashflow management that would tend to involve local currencies, and sure sometimes even dollars and/or stable coins based on some tendency for stable coins to proclaim that they are pegging to the dollar - which they may or may not end up achieving.

You weren't necessarily wrong @Dareo in the way that you were talking about "crypto", even though you were also vague in regards to what you were talking about since the term "crypto" conjures up vague ideas about shitcoins and surely bring in ambiguities and potential tendencies to mislead guys, and so I become a bit irritated (and potentially other guys feel similar?) about the use of vague and/or misleading references to "crypto" without being more clear about what is being discussed.

A lot of people don't take the emergency funds serious and that's one things that's supposed to be taken very serious because without it, there are always high possibilities of investors touching their investment but in situations where the investor has a very good budget for their emergency funds, there wouldn't be any reason for the investor to touch their investment and that's will make such an investor hold their coin for a much more longer time.

I have said it before that, for someone who doesn't even have an emergency funds and wants to go into the industry, instead of wanting to wait to get an emergency fund gathered, I would rather prefer that you save your emergency funds in bitcoin so you can be on a safer side.

What do you actually mean by being on a safer side? Are you trying to suggest that saving emergency funds In bitcoin is better than saving it in fiat where it can be easily accessible and available for use when you need it , does it mean that there will be no risk of loss when saving emergency funds in bitcoin?. As far as I’m concerned, bitcoin is volatile and keeping emergency funds in bitcoin still doesn’t make it safer because of the high volatility issue which means that you can experience some loss during periods of market crash and there by reducing your emergency funds savings which may not be enough to sort out your emergency situations when they occur at such period of heavy market crash.

Of course, it is important to point out that we don't keep our emergency funds in bitcoin.  That would be retarded.

We purposefully keep emergency funds (and other back up funds) in cash in order to try to minimize the possibility that we would end up having to tap into our bitcoin at a time that is not of our own choosing... and yeah, if we are seriously investing in bitcoin rather than trading or gambling with it, then we will end up establishing a 4-10 year or longer investment timeline, which is part of the reason that we ongoingly build up back up funds so that we will never ever have to tap into our bitcoin, unless we end up fucking up or perhaps some very extreme and/or rare circumstances end up happening that we had depleted all of our other back up funds and we have no choice but to tap into our bitcoin because we have no other resources to tap into.

Of course, when we are in the earliest of stages of building up both our bitcoin and our back up funds, we may be more vulnerable as compared to when we have had time to build up our back up funds... so yeah, bitcoin could end up getting tapped into, but if we are seriously about investing in bitcoin, then we should be trying to make sure that we are not engaging in sloppy or risky behaviors and we are putting cash cushions in place so that we won't have to touch our bitcoin for 4-10 years or longer, except maybe spend and replace kinds of situations.

To be at a more safer side it will be better to avoid savings it in a highly speculative asset like bitcoin that’s very volatile. The main reason for keeping the emergency funds is to use it for sorting emergency situations only and not attempting to make profit from it.

Of course, guys have to consider liquidity and volatility, which is the reason that we should be keeping good portions (at least the beginning portions) in cash... .We know that bitcoin tends to be quite liquid, yet the reason that we are investing in bitcoin is not so we can cash out any time that the price goes up and/or down, so if we are really investing in bitcoin for 4-10 years or longer, then we have to be putting systems in place where we are not going to end up getting lured into having to sell it because we either don't have other options or we are lured into making some rinky-dink profits because we had vailed/refused to put systems in place to be able to build it and/or hold it for 4-10 years or longer.

I think that some people forget discretionary spending because they want to sound too smart or too Bitcoin invested. It’s very good to prioritise Bitcoin investments but we shouldn’t totally neglect the other aspects of our life or financial management. We still have to consider them even if it’s small amounts or percentage of our discretionary income.
I know as investors, there are some weeks we can do without discretionary spending on fun activities but there are still other things aside fun that counts as discretionary spending like our data subscription, so there’s need not to totally ignore it.

After reading the comments of others especially on the discretionary spending, I have come to learn that it is very important aspect of the process that will make the investment process not to become a thorn in our flesh. In mean that we must not sacrifice our passion, things that make us feel happy and hopeful which may not fall into the basic things for the sake of investing in Bitcoin. They can be covered under the discretionary spending, hence we have to make plans for that too while keeping the protective funds that will protect our investment. I'm happy to learn a new thing in that regard.

Yep.  Discretionary consumption remains important, even if guys might shoot to keep it very low.

At the same time, it seems quite unrealistic when guys calculate discretionary consumption as zero.