JJG’s Outline of Bitcoin Investment Ideas

[B2Z]

I think the issue is that there are people who don't have control over themselves when it comes to keeping money in a place that will be very accessible for them that is why some people feel or think keeping emergency funds in cash is not safe and so, the best thing to do as an investor is to keep or save your emergency funds wherever one think is convenient and okay for them since everyone are not the same when it comes to handling things. The most important thing is that make sure to keep your emergency funds safe.

It isn't a wise Idea to keep bulky cash at home because of armed robbers. The way the society is right now, and with the current rise of insecurity everywhere, you might get rob if the wrong person gets to know that you are keeping large amounts of cash at home,and all that money will be gone. So keeping your emergency fund all in cash at home is risky, so I think the best approach  is to partition it into three parts, leave one part in cash, leave the second parts in the bank and put the rest into bonds, that way you won't be putting your life in danger and you still have access to your emergency fund when the need arises.

In today's society keeping cash at home can be a somewhat suicidal decision. It is true that there is a risk of thieves robbers or robbers. Again your second suggestion that is keeping a part of the emergency fund in the bank and investing the rest in bonds is a big trap from the point of view of real world finance. Because keeping fiat in the bank means counterparty risk. The bank can go bankrupt at any time freeze your account or in a moment of extreme crisis will not let you withdraw your own money under various pretexts. It is never right to keep an emergency fund in bonds stocks or any other illiquid or volatile asset. The condition of an emergency fund is 100% liquidity and immediate availability. If you keep money in bonds or fixed investments you will not be able to cash it out immediately during a crisis or you will be forced to withdraw it at a loss. It is not right to make an emergency fund an investment or profit making tool. It should be kept in fiat in a safe and compliant place that is fully liquid and in front of your eyes so that in an extreme crisis of life you do not have to panic sell or be forced to exchange Bitcoin.

Just as an investor can start investing when they know about discretionary income, similarly, to ensure the security of their investment, they can try to create an emergency fund according to their comfort zone. Yes, now the question is that if an investor starts investing this emergency fund, where will the investor keep the money from this emergency fund? The simple answer would be the place that the investor feels is safe, I think a bank can be a good choice in this case because if you keep money in a bank, there is no possibility of theft or robbery, similarly, when needed, he can withdraw the money but the needs can be met.
You said about the bank going bankrupt and sometimes the account will be frozen, yes, this can happen but still, we have to trust the bank to some extent.

On the other hand someone with irregular income and more family responsibilities may want to save six months or more of their expenses for their financial security. This is not an unreasonable decision.

If someone has a truly irregular income or a lot of family responsibilities, they may need to set aside some extra money. This does not mean that building an emergency fund equal to six months or more of their expenses is a good decision.

Suppose a person's income is so limited that they have very little money left over after meeting essential expenses or can set aside a small amount of discretionary income. It may take a year or more for them to build up a three-month emergency fund. If they decide to build a six-month emergency fund, they will probably spend a lot of time just accumulating cash. Especially if they are busy building an emergency fund during that time instead of collecting Bitcoin, it will be an even more irrational decision.

However, if someone has a big expense coming up or the risk of losing their income is very high, then it is reasonable to set aside money for that need. But you also need to understand that setting aside money for known expenses is not the same as building an emergency fund for unexpected dangers.

I think that when starting an investment, there should be no obligation to start investing with such an obligation that an investor has to create an emergency fund equivalent to six months of expenses or an amount equivalent to three months of expenses as an emergency fund. When the investor has such pressure at the beginning of the investment, it will be more difficult to start investing and if the investment starting stage is delayed, the investor may gradually lose interest in investing. Therefore, I think that if an investor knows his discretionary income, he can start investing with a part of his discretionary income. Those whose income is limited or irregular can plan to form an emergency fund, but it must be from their comfort zone, as much as their fund can deposit, if necessary, they should deposit a relatively smaller amount in the emergency fund so that it does not have any bad effect on the investment while creating this fund, and so that it does not put pressure on their daily expenses.

[Princess Leah]

In today's society keeping cash at home can be a somewhat suicidal decision. It is true that there is a risk of thieves robbers or robbers. Again your second suggestion that is keeping a part of the emergency fund in the bank and investing the rest in bonds is a big trap from the point of view of real world finance. Because keeping fiat in the bank means counterparty risk. The bank can go bankrupt at any time freeze your account or in a moment of extreme crisis will not let you withdraw your own money under various pretexts. It is never right to keep an emergency fund in bonds stocks or any other illiquid or volatile asset. The condition of an emergency fund is 100% liquidity and immediate availability. If you keep money in bonds or fixed investments you will not be able to cash it out immediately during a crisis or you will be forced to withdraw it at a loss. It is not right to make an emergency fund an investment or profit making tool. It should be kept in fiat in a safe and compliant place that is fully liquid and in front of your eyes so that in an extreme crisis of life you do not have to panic sell or be forced to exchange Bitcoin.

Ofcourse it's a trap, the emergency funds is set aside for emergency situations/challenges not for profits so investing it in an asset makes no sense so keeping it in fiat is the best option i could think of. However keeping it in cash is tempting cause you could easily want to spend it knowing there's a physical money at home.

 Banks don't suddenly go bankrupt except they get themselves in a mess that would cause they to go bankrupt and it's not something we regularly hear happens. I think it's better to open a September bank account without an ATM card for saving the emergency funds.

[Charcol]

So it is always good that a balance is struck between accumulating Bitcoin and then building backup funds...Both goals can be worked towards simultaneously by the investor simply by making his investment while also building their emergency funds alongside it... They both should always have an equal importance in the minds of investors, no need for trade-offs..

If someone doesn't have an emergency fund but is willing to invest and has discretionary income, they don't need to wait for an emergency fund. They can start investing at the same time and focus on building an emergency fund. Just because you can do both doesn't mean that there are no trade-offs in your money allocation decisions.

For example, if you have $100 in discretionary income after deducting all your monthly expenses, you have $70 in your emergency fund, which would be $30 to buy Bitcoin. If you put $70 in Bitcoin, you can put $30 in your emergency fund. Here, you are both investing and saving. But the speed at which you accumulate Bitcoins and the speed at which your emergency fund grows will not be the same. This is where the money allocation decision becomes important. If you already have some emergency funds but have a small amount of Bitcoin, you may want to give more importance to buying Bitcoins.  On the other hand, if someone has no emergency fund at all, they may need to temporarily focus more on their emergency fund.

[Rockson1]

It isn't a wise Idea to keep bulky cash at home because of armed robbers. The way the society is right now, and with the current rise of insecurity everywhere, you might get rob if the wrong person gets to know that you are keeping large amounts of cash at home,and all that money will be gone. So keeping your emergency fund all in cash at home is risky, so I think the best approach  is to partition it into three parts, leave one part in cash, leave the second parts in the bank and put the rest into bonds, that way you won't be putting your life in danger and you still have access to your emergency fund when the need arises.

You are right that keeping a huge cash at home is not a good idea, because of the dangers involved, the thing is that, individuals are their own problem, some people have decided that they won't have secretary which is why they keep getting into one problem or the other, but I'm to follow the method you suggested, I mean dividing the emergency funds into three, I won't put any in bond, I prefer USDT, then bank and the least of cash should be in cash, although I understand why some people think that all in cash is the best for them, but that is risky because one can only be sure of himself in terms of keeping secret, what any of our household is aware of the money and spill out when having discussion with some he or she thinks is close friend, it means the whole family has been put into danger.

[Finebone]

For example, if you have $100 in discretionary income after deducting all your monthly expenses, you have $70 in your emergency fund, which would be $30 to buy Bitcoin. If you put $70 in Bitcoin, you can put $30 in your emergency fund. Here, you are both investing and saving. But the speed at which you accumulate Bitcoins and the speed at which your emergency fund grows will not be the same.

This method you use as an example is not the best, and it is division like this that makes some investors to run into trouble because it's unsustainable, because since you fail to make provision for discretionary consumption, you may not be able to sustain the investment, since you may live a life where you will deprive yourself of so many things, that keeps the body and soul together.

So dividing your discretionary income into three equal part is the best. One place for investment, one to strengthen your back up funds and the last part for your discretionary consumption. It is only when you think that your emergency funds is big enough to sustain your investment for three months, you can pause that aspect of it and channel that money to buying consistently.

[Showlove01]

You are right, the main goal of saving is not growth but availability, so it only right to save in a normal value because our emergency needs will come in normal value. So saving in bitcoin is only risky because of it volatility in nature. Investing is about growth, while saving is about stability and availability. So if your basic needs like utilities and other needs are in Dollar then it best ti save in dollar.

So invest in assets you believe will appreciate and save in the currency of your liabilities. Sometimes I think people  struggle with the math just like you said.

Growth may not be the main reason people save in Bitcoin but it is still part of the reason because no one can save money or invest in a place it won't grow with time. The growth in Bitcoin is not immediate but rather it is a long term growth so don't conclude it's not for growth. However, we know no investment is risk free but saying investing is risky because of volatility means you don't know what Bitcoin investment is all about because if you are investing for long term you stand a chances of overcoming it so volatility is only risky if one is trading.

[Dxdiax26]

You are right that keeping a huge cash at home is not a good idea, because of the dangers involved, the thing is that, individuals are their own problem, some people have decided that they won't have secretary which is why they keep getting into one problem or the other, but I'm to follow the method you suggested, I mean dividing the emergency funds into three, I won't put any in bond, I prefer USDT, then bank and the least of cash should be in cash, although I understand why some people think that all in cash is the best for them, but that is risky because one can only be sure of himself in terms of keeping secret, what any of our household is aware of the money and spill out when having discussion with some he or she thinks is close friend, it means the whole family has been put into danger.

It is not an easy thing to keep cash at home, because everyone has jealousy so those of us who have cash will always face threats from various parties who sometimes want us not to be able to have what we currently have.
Moreover, the current economic climate makes it difficult for many to obtain funds. With a system like yours I agree that a distribution system is indeed necessary when we have more income or wealth. Saving in a bank and converting money into USDT is better for security preventing risks. The rest of our needs are only for cash to cover our daily needs, whether for household needs or personal needs and for socializing with those around us.

In this day and age, I don't think it's necessary to be overly trusting of anyone even our relatives or family. However, if there are financial problems they will always find a way to bring us down. This is also a risk we must avoid and be mindful of. In order to have better finances, we must master our inherent secrecy to prevent unwanted incidents.

[Bluedrem]

Growth may not be the main reason people save in Bitcoin but it is still part of the reason because no one can save money or invest in a place it won't grow with time. The growth in Bitcoin is not immediate but rather it is a long term growth so don't conclude it's not for growth. However, we know no investment is risk free but saying investing is risky because of volatility means you don't know what Bitcoin investment is all about because if you are investing for long term you stand a chances of overcoming it so volatility is only risky if one is trading.

Perhaps many people may wonder why they would hold Bitcoin. As you have said here, most investors invest for the purpose of growth. Yes, every investor has a direct or indirect objective to achieve growth from their investment. For example, when someone is using Bitcoin as a hedge to maintain the value of their assets, there is an underlying objective of growth along with financial security. Those who invest here, in addition to getting the peace of mind of owning their assets, also aspire to retain the purchasing power of the assets and get more profit than other investments through investment.
There are also many investors who want to gradually build their wealth savings, they can also build Bitcoin savings here by investing in the DCA method, which will be able to give them financial freedom in the future. However, yes, if someone enters here with a short-term plan, the profit is less guaranteed, but if someone enters Bitcoin with a long-term plan, the profit is more guaranteed. Because for this long period of time, the investor has the opportunity to analyze the market and does not have to worry about prices/price changes.

[Junii]

If someone doesn't have an emergency fund but is willing to invest and has discretionary income, they don't need to wait for an emergency fund. They can start investing at the same time and focus on building an emergency fund. Just because you can do both doesn't mean that there are no trade-offs in your money allocation decisions.

For example, if you have $100 in discretionary income after deducting all your monthly expenses, you have $70 in your emergency fund, which would be $30 to buy Bitcoin. If you put $70 in Bitcoin, you can put $30 in your emergency fund. Here, you are both investing and saving. But the speed at which you accumulate Bitcoins and the speed at which your emergency fund grows will not be the same. This is where the money allocation decision becomes important. If you already have some emergency funds but have a small amount of Bitcoin, you may want to give more importance to buying Bitcoins.  On the other hand, if someone has no emergency fund at all, they may need to temporarily focus more on their emergency fund.

Yeah it makes sense but one thing we have to understand that the financial situation and responsibilities of every person is different. Doing both like savings money for emergency and investment with low income is a good idea but if someone has low income and he/she save a little amount then first of all he/she has to increase the income and during this phase they have to save some amount first may be a little but just saving for sometime when they have a reasonable amount saved they can start investing while continuing to build their emergency fund because if any emergency situation happened and there is no emergency fund or it is less and also the market is down as well may be a person sell there assets in loss.

[nara1892]

If someone doesn't have an emergency fund but is willing to invest and has discretionary income, they don't need to wait for an emergency fund. They can start investing at the same time and focus on building an emergency fund. Just because you can do both doesn't mean that there are no trade-offs in your money allocation decisions.

For example, if you have $100 in discretionary income after deducting all your monthly expenses, you have $70 in your emergency fund, which would be $30 to buy Bitcoin. If you put $70 in Bitcoin, you can put $30 in your emergency fund. Here, you are both investing and saving. But the speed at which you accumulate Bitcoins and the speed at which your emergency fund grows will not be the same. This is where the money allocation decision becomes important. If you already have some emergency funds but have a small amount of Bitcoin, you may want to give more importance to buying Bitcoins.  On the other hand, if someone has no emergency fund at all, they may need to temporarily focus more on their emergency fund.

Yeah it makes sense but one thing we have to understand that the financial situation and responsibilities of every person is different. Doing both like savings money for emergency and investment with low income is a good idea but if someone has low income and he/she save a little amount then first of all he/she has to increase the income and during this phase they have to save some amount first may be a little but just saving for sometime when they have a reasonable amount saved they can start investing while continuing to build their emergency fund because if any emergency situation happened and there is no emergency fund or it is less and also the market is down as well may be a person sell there assets in loss.

I agree with this. We never know what negative events might befall us in the future, but they are very likely to happen. Therefore, I agree that people should build an emergency fund first before finally starting to invest. Increasing income, as you said, is clearly something that must be done, and only after they’ve saved enough to cover at least six months of expenses including unexpected expenses should they begin investing.
This emergency fund can prevent you from having to take out a loan when financial problems arise, meaning you’ll be debt-free, your financial issues will be resolved, and your Bitcoin accumulation will continue.

[Obulis]

It isn't a wise Idea to keep bulky cash at home because of armed robbers. The way the society is right now, and with the current rise of insecurity everywhere, you might get rob if the wrong person gets to know that you are keeping large amounts of cash at home,and all that money will be gone. So keeping your emergency fund all in cash at home is risky, so I think the best approach  is to partition it into three parts, leave one part in cash, leave the second parts in the bank and put the rest into bonds, that way you won't be putting your life in danger and you still have access to your emergency fund when the need arises.

As a bitcoin investor, the problem we have is our mouth, because we talk too much, because If we decide to do things privately while investing, we can always be safe.

As for the part where you say that our emergency funds should be divided into three part, I disagree with that idea of yours because it's not ideal to keep your emergency funds in bonds as you are proclaiming. Dividing it into two is the best, like 60% of it in the bank and 40% of it in cash, so that you can have an emergency funds to fall back to, if your bank lock you out when emergency situation is at hand.

This way your bitcoin investment will always be safe, as long as you continue staying private, because people cannot attack or rob what they are ignorant of.

Investing in secret is security. When some people hear Bitcoin, their reasoning becomes absolutely abnormal. The word "Bitcoin" goes with exaggeration. When people become aware that you have been investing in Bitcoin for sometimes now, they'll likely exaggerate your Bitcoin portfolio before jealousy set's in that can instigate evil plan against you.

Having emergency funds in the bank and cash is actually the best option at personal discretion, anything bond is just the same as reinvesting your emergency funds in Bitcoin which is a total no.

[Nwaswago]

You may have your emergency fund in the bank, some in cash, and some in assets that are relatively stable but require a certain process to sell.

Keep or safe your emergency funds in your emergency funds account, if you are saving in bank account. If you’re saving in cash, keep it in a box or bag where you can easily access it if emergency arises. Your emergency funds should not be kept in any other asset apart from fiat that is either in the bank or readily available in cash. Emergency requires readily available money to solve, so if your keeping your emergency funds in any other asset other than cash at hand or bank, you are wrong. Because it might happen that when the emergency hits, and you want to convert that your asset you think is relatively stable to cash, and you don’t see buyers, or the available buyers are willing to pay lesser price, you will end up being stranded.

I agree with you. What is the point of keeping emergency funds in an asset that may not be easily converted to cash when an emergency arises? Even if the asset is relatively stable, finding a buyer at a reasonable price may take time, and you could end up selling at a loss. The whole purpose of an emergency fund is to provide immediate financial support when unexpected situations arise. Keeping it somewhere accessible and relatively stable helps prevent you from being forced to sell your Bitcoin just to cover urgent expenses. After all, the goal of an emergency fund is financial protection, not investment growth.

[ASloveapg]

You are right, the main goal of saving is not growth but availability, so it only right to save in a normal value because our emergency needs will come in normal value. So saving in bitcoin is only risky because of it volatility in nature. Investing is about growth, while saving is about stability and availability. So if your basic needs like utilities and other needs are in Dollar then it best ti save in dollar.

So invest in assets you believe will appreciate and save in the currency of your liabilities. Sometimes I think people  struggle with the math just like you said.

Growth may not be the main reason people save in Bitcoin but it is still part of the reason because no one can save money or invest in a place it won't grow with time. The growth in Bitcoin is not immediate but rather it is a long term growth so don't conclude it's not for growth. However, we know no investment is risk free but saying investing is risky because of volatility means you don't know what Bitcoin investment is all about because if you are investing for long term you stand a chances of overcoming it so volatility is only risky if one is trading.

Bitcoin will not move according to your expectations, it will not go up as you expect, rather it moves in unexpected ways, and the biggest thing is that Bitcoin is very volatile in the short term but so far Bitcoin has proven itself to be a very successful investment in the long term. And that is why the most important thing about Bitcoin investment is that if you expect success from it in the short term, it can cause you to suffer huge losses through its unexpected volatility, but if you can patiently create a long-term mindset and hold it for the long term, then it can also create very good possibilities for you. And that is why it is necessary to understand the main point, if you realistically expect long-term success from Bitcoin, then of course it is possible to get a good chance of success, but if you unrealistically think that it will only go up as you expect, then you are going to see the opposite of your expectations, through which you will suffer huge losses just by making the wrong decision.

[Rabata]

I think the issue is that there are people who don't have control over themselves when it comes to keeping money in a place that will be very accessible for them that is why some people feel or think keeping emergency funds in cash is not safe and so, the best thing to do as an investor is to keep or save your emergency funds wherever one think is convenient and okay for them since everyone are not the same when it comes to handling things. The most important thing is that make sure to keep your emergency funds safe.

It isn't a wise Idea to keep bulky cash at home because of armed robbers. The way the society is right now, and with the current rise of insecurity everywhere, you might get rob if the wrong person gets to know that you are keeping large amounts of cash at home,and all that money will be gone. So keeping your emergency fund all in cash at home is risky, so I think the best approach  is to partition it into three parts, leave one part in cash, leave the second parts in the bank and put the rest into bonds, that way you won't be putting your life in danger and you still have access to your emergency fund when the need arises.

Keeping a large amount of cash can be a problem if there is a security risk at home. However, when deciding to divide your emergency fund into several parts, it is important to consider not only the safety of the money, but also how easily it can be used in times of need.

You may have kept some of your emergency fund in cash, some in the bank, and the rest in bonds. After a few days or weeks, someone in your family suddenly needs a large amount of money for urgent medical needs. Then you may be able to use the cash immediately. Even bank money may be available quickly depending on the situation. But when you keep part of your emergency fund in bonds, you have to follow certain procedures to convert that money into cash, and if it is time-consuming, then you may face problems at that moment. I am not talking about all types of bonds. There may be some bonds that can be easily sold. Again, in many cases, it may be difficult to withdraw the money before the maturity date. Just because the value of the money is relatively stable, it should not be considered suitable for an emergency fund.

[Jostern]

Investing in secret is security. When some people hear Bitcoin, their reasoning becomes absolutely abnormal. The word "Bitcoin" goes with exaggeration. When people become aware that you have been investing in Bitcoin for sometimes now, they'll likely exaggerate your Bitcoin portfolio before jealousy set's in that can instigate evil plan against you.

I’m quite shocked with your statement, I must say you must come from somewhere in Africa, this mentality is quite common with African’s, there are so many people who doesn’t know about bitcoin when you mention it to them, so I don’t see anything wrong in you telling them about bitcoin if they want to know about bitcoin like they say experience is the best teacher, but how do think of going about telling everyone that you’re investing in bitcoin for jealousy to set in, you shouldn’t forget that you can’t keep your investments in bitcoin a secret from certain people who are close to you, do you know with your wallet address someone can know how much is in your wallet, so how do you keep it a secret, probably from anyone not to know your wallet addresses, well people knowing about your bitcoin portfolio doesn’t mean that they’re going to kill you or get you kidnapped, well if you don’t trust people around you about those informations then you have to be careful with people you don’t feel comfortable around.

[Silikiem]

Ofcourse it's a trap, the emergency funds is set aside for emergency situations/challenges not for profits so investing it in an asset makes no sense so keeping it in fiat is the best option i could think of. However keeping it in cash is tempting cause you could easily want to spend it knowing there's a physical money at home.

 Banks don't suddenly go bankrupt except they get themselves in a mess that would cause they to go bankrupt and it's not something we regularly hear happens. I think it's better to open a September bank account without an ATM card for saving the emergency funds.

I prefer to have an ATM card for my emergency funds even if I chose to save it in a bank because it makes it more accessible and easier for me to withdraw the cash around my convenience without getting to visit the bank and do all that paperwork’s before my funds can be released for me to sort out my emergency situation. There are some situations whereby the distance from your home to the bank location is very far, it can be really time wasting and problematic before you could arrive at the bank to cash out your emergency funds which is needed very urgently. The emergency funds should be easily accessible to the owner at any given point in time when needed and i think without having ATM card, you will be required to visit the bank and fill up some forms and submit which might delay the release of your cash for such an emergency situation. And secondly, most Banks do not operate on weekends so what if the emergency situation occurs during the period when Bank are not working, what will you do to withdraw your money from the bank if you don’t have ATM card available. Atm card makes it easier for you to  withdraw your emergency funds around your neighborhood at any nearest ATM stand or local POS station around your neighborhood.

[Tank67]

I agree with you. What is the point of keeping emergency funds in an asset that may not be easily converted to cash when an emergency arises? Even if the asset is relatively stable, finding a buyer at a reasonable price may take time, and you could end up selling at a loss. The whole purpose of an emergency fund is to provide immediate financial support when unexpected situations arise. Keeping it somewhere accessible and relatively stable helps prevent you from being forced to sell your Bitcoin just to cover urgent expenses. After all, the goal of an emergency fund is financial protection, not investment growth.

That is the problem people are putting themselves into serious problems, and they need to understand that an emergency fund is best kept in fiat for easy accessibility because, from the beginning, their assets are relatively okay to buy and stable, but the best advice is that, since it's an emergency fund, it should be kept in the best way that is accessible because an emergency is meant for emergencies, so there is no reason why you will keep it where it will be reachable, and if you keeping an asset it should be an asset since you are going to be holding for a long time because that is one of the ways that things can be different. After all, investment will not be complete without emergency funds.

[Grease5000]

Investing in secret is security. When some people hear Bitcoin, their reasoning becomes absolutely abnormal. The word "Bitcoin" goes with exaggeration. When people become aware that you have been investing in Bitcoin for sometimes now, they'll likely exaggerate your Bitcoin portfolio before jealousy set's in that can instigate evil plan against you.

I totally disagree with your opinion because keeping your bitcoin investment private doesn't means you cannot encourage others to learn about or invest in it.  There is a big difference between educating people about bitcoin and exposing your personal holdings.

Though  In some parts of the world, there are people who still see bitcoin as just another cryptocurrency or they can invest  on and make huge profit in short time (quick money opportunity) because of the misinformation surrounding it. So, when they discover that you have been accumulating bitcoin for some time, they may exaggerate your holdings and may develop unrealistic expectations about your financial position. This is why I believe you can openly educate people about Bitcoin, share your experience and encourage them to do their own research without making your personal investment public.

Just as people promote products by telling others about it, it's benefit and the risk involved, you can promote bitcoin without making yourself a subject of public attention.

[ejikeme24]

Ofcourse it's a trap, the emergency funds is set aside for emergency situations/challenges not for profits so investing it in an asset makes no sense so keeping it in fiat is the best option i could think of. However keeping it in cash is tempting cause you could easily want to spend it knowing there's a physical money at home.

Unless a guy does not understand and / or know the reason as to why they are saving that money that they could easily want to temper it whether it is in cash or in the bank, while those investors who knows the reason why they are keeping money for emergency wouldn't temper with it no matter how the situation might be; they would rather temper with the money in their reserve funds instead of their emergency funds. So with this illustration it's clear that those who end up tempering Their emergency funds when its been saved in cash obviously don't know the reason why they are saving it,  probably just want to follow what other investors are doing. of course some investors like coping what other investors are doing without even trying to know the reason why they are doing all of that, that is why they usually end up making a mistake in their investment.

[Umulala-alala]

Therefore, I agree that people should build an emergency fund first before finally starting to invest.

Emergency funds is very necessary and important for any one investing in bitcoin and what to hold for a long time, but in a situation where an investor wasn't able to build up any emergency funds at first, instead of building an emergency funds will delay them not to invest in bitcoin they can actually get started if they were able to get some discretionary funds after sorting out what they needed, it's from this discretionary funds they can gradually be building up their emergency funds, that is they can be building up their emergency funds as they are also buying BTC instead of waiting first to build up an emergency funds before getting started, what every one needed to get started is their discretionary income and not their emergency funds. Discretionary income comes first before emergency funds.