Finally I did it (I am happy to join).

[JayJuanGee]

I agree that a person should not be dipping into his emergency funds for BTC buys, but there could be situations in which it makes sense if there is variability in income and expenses, and there is also a decent sized emergency fund.  There also may be decisions to buy a certain quantity of BTC no matter what, so if the cashflow over several months is fluctuating, the income might not meet expenses, and yet there still might be expectations that the following months or the month after, the emergency fund will be able to be diminished with the short-fall, and part of the reason to have an extra large sized emergency fund is to be able to buy BTC every month/week. . or whatever might be the priority that is pre-established.

Anybody that uses funds for emergencies to invest in Bitcoin is not a wise investor because problems can come at anytime when he/she will need some money that he will use to settle down some things that needs to be settled..
Having an emergency funds might make an investor to hold more longer than he or she planned to hold. Reasons are because when you are saving and still accumulating Bitcoin and on the other hand you have funds for emergencies, then what will the person want to sell his coins for? Nothing,,, unless they will want to use some of the profits to complete a project and other things that can be bring more money to them during the week or month.

There are some people who works in a company that don't pay workers salaries on time (delays payments) and those people if they are invest in Bitcoin and they are not saving some funds for emergencies and just saving for nothing, by the time month end and there is no payment they will want to sell some coins and use the money to support them self untill payment is made.

Even though you are correct that if an emergency fund is not very robust, then a person probably should never use the fund for anything other than emergencies.

However, I doubt that there is any strict rule in regards to whether someone might choose to use his emergency funds - so maybe if I exaggerate the hypothetical a bit more, you might be able to understand how an emergency fund might be used in a floating kind of way. 

Let's say for example, a person starts investing into bitcoin, and at the same time he is building up his emergency fund, and so his regular salary ranges between $300 and $1,200, and most of the time, his salary is more $700.  His expenses are right around $500, and let's say that he has 2 months of expenses saved up in his emergency fund saved up ($1k), but he wants to get his emergency fund up to between 3 and 6 months ($1,500 to $3k)... and so maybe he will not really be comfortable buying bitcoin until he get's his emergency fund up to 3 months, but he does not want to forgo investing into bitcoin, so he decides that he is going to buy $50 worth of bitcoin no matter what, so long as his income for the month is greater than $550, which is $50  greater than his expenses, and if  the income for the month  comes in greater than $550, then he will split the extra between his emergency fund and buying bitcoin, so if he ends up earning $1k for the month, then he has made $500 extra, so he could put $250 into bitcoin and $250 into his emergency fund.

Maybe he also decides while his emergency fund is between 3 months and 6 months, he is going to buy $100 worth of bitcoin no matter what, and so there could be some cases in which, and sure there could be cases in which he has to dip within his emergency fund to accomplish that, especially if his income were less than $500 for the month.

So then maybe once he gets his emergency fund up to 6 months, he might decide to buy $500 in bitcoin each month no matter what, and there also could be cases that he ends up dipping into his emergency fund.

Let's say that he continues to invest and build his emergency fund, and his emergency fund has gotten up to 9 months worth of expenses (which would be $4,500), so at that point, he might decide to buy $1k worth of bitcoin every month no matter what until his emergency fund goes back to 6 months, and then if his emergency fund goes back down to only 6 months, he will modify his approach to be more conservative at that time.

I am merely giving this as an example to show that there could be cases in which an emergency fund ends up being greater than it needs to be, so then there could be choices to dip into that emergency fund, based on the size of the emergency fund being greater and perhaps having a greater ability to float non-emergency type issues. .and so what you call it might be an argument about semantics rather than recognizing that there can be ways in which some portions of the emergency fund might be treated more strictly than other portions, especially if such emergency fund gets built up to be fairly robust in size relative to expenses (or expected expenses or even how much extra might be needed to keep in the emergency fund for unexpected happenings, which the punchline, like you said Su-asa is not to get to any kind of point in which you run out of emergency funds and have to dip into your BTC investment at a time that is anything other than your own choosing. .which depletion of your emergency fund would not be a good place to be... in part because it seems to be largely preventable.

Anybody that uses funds for emergencies to invest in Bitcoin is not a wise investor because problems can come at anytime when he/she will need some money that he will use to settle down some things that needs to be settled..
Having an emergency funds might make an investor to hold more longer than he or she planned to hold. Reasons are because when you are saving and still accumulating Bitcoin and on the other hand you have funds for emergencies, then what will the person want to sell his coins for? Nothing,,, unless they will want to use some of the profits to complete a project and other things that can be bring more money to them during the week or month.

There are some people who works in a company that don't pay workers salaries on time (delays payments) and those people if they are invest in Bitcoin and they are not saving some funds for emergencies and just saving for nothing, by the time month end and there is no payment they will want to sell some coins and use the money to support them self untill payment is made.

I have not seen anyone keeping funds for emergency.

Even if people are not accustomed to keeping an emergency fund, if they start to invest, there is a higher need to have an emergency fund in order that you do not have to sell your investment at a time that is anything other than your own choosing.  Anyone who invests and does not establish an emergency fund is gambling with his investment, and yeah there could be some folks who have developed some ways of cushioning themselves with various assets that they would sell first, so they might not call their funds or their assets to be part of an emergency fund, even if some funds might be serving that purpose, if they were to be the thing that is sold first, and anyone investing in bitcoin should not be putting himself into a position in which he has to sell his bitcoin first or at any point that is not of his own choosing, otherwise he is treating his bitcoin as part of his emergency fund, which is a plan that is likely to not have very good success .. it is a kind of gambling to treat your bitcoin as your emergency fund.

There is no special emergency funds in anywhere but the funds came out when the emergency arise. Nobody pray for bad omen or danger ahead, but emergency is unavoidable, whether we like it or not we must encountered it from one way to another  and emergency funds also comes unprepared. And at that time of the emergency, no responsible person would use that funds to invest in Bitcoin then the person does not value the sick person life. Bitcoin is not something we invest and reap within a second or hours. But a long term investment.

There are all kinds of emergencies.. not just sick persons.... but you raise a point in which there coudl be some kinds of cases in which it might be prudent to have an emergency fund that is larger than usual.. maybe more than 3-6 months but and might have some other funds that are for catastrophic situations.. and if you do no thave funds in other place, then your bitcoin would be serving that purpose.. which may or may not be a good idea and may or not be something in which you could attempt to plan for how many funds you hold in various places and what would be the order in which those cushion funds would be used for any emergency that was ongoing, persistent and of the magnitude that is draining your regular and then seemingly insufficient 3-6 months emergency fund.

As I said nobody saves money for accident, law case and others but it is when the matters arise then money would come out from it hidden places to settle the problem.

You are assuming too much Mate2237.. people do have funds for emergencies, and sometimes it could take a long time to build up such funds, and sure some of that could be in bitcoin, but it could also be in other assets, so the longer and longer that you are in bitcoin and thinking about these kinds of things, the more likely you could be building up your emergency fund to be more and more robust.. .and some of the robustness can be planned in advanced, but some of the robustness might well be a thing that is built as you go.. ..

So, like the example that I already gave above, if a person knows that his regular expenses are usually around $500 per month, and his income is $300 to $1,200 but usually around $700, there still could be ways to attempt to cut expenses down and/or to build up income.. and so maybe once the emergency fund gets to 6 months, he might decide to build it up to 12 months, and perhaps some of the funds would be considered working funds.. so there could be various places to put the emergency fund and to build its size at the same time.  I would not presume an emergency fund to be futile, merely because you don't do it or no one you know does it, and I some people do decide  to keep some forms of money in cash even though it is not working capital, partly because the want to make sure that they have enough of an emergency fund.

Sure there are some cultures in which the money tends to debase so fast that it does not make a lot of sense to hold that money in cash, so there could be some ways that some of the emergency fund is held in non-yielding cash, and then there could be some other cash that might take a bit longer to get to but it is earning some kind of interest so that it holds its value.. and so there can be questions of trade-offs between liquidity and holding value.. .especially the larger it is, then if you are holding a whole year's worth of cash and it is losing value at 2-5% per year, you might believe it is not that big of a deal to keep adding value to it, but if it is losing value fastr than that then you may want to be able to earn some kind of interest on it.

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[Richbased]

I agree that a person should not be dipping into his emergency funds for BTC buys, but there could be situations in which it makes sense if there is variability in income and expenses, and there is also a decent sized emergency fund.  There also may be decisions to buy a certain quantity of BTC no matter what, so if the cashflow over several months is fluctuating, the income might not meet expenses, and yet there still might be expectations that the following months or the month after, the emergency fund will be able to be diminished with the short-fall, and part of the reason to have an extra large sized emergency fund is to be able to buy BTC every month/week. . or whatever might be the priority that is pre-established.

Anybody that uses funds for emergencies to invest in Bitcoin is not a wise investor because problems can come at anytime when he/she will need some money that he will use to settle down some things that needs to be settled..
Having an emergency funds might make an investor to hold more longer than he or she planned to hold. Reasons are because when you are saving and still accumulating Bitcoin and on the other hand you have funds for emergencies, then what will the person want to sell his coins for? Nothing,,, unless they will want to use some of the profits to complete a project and other things that can be bring more money to them during the week or month.

That's the more reason why any Bitcoin investor should scrap out some money from their earnings that will stand as emergency fund should the need arises rather than tampering with their holdings because if they tamper with their holdings then their motive of accumulating more Bitcoins will be conquered because they gonna keep tampering with their holdings from time to time until they exhaust all their holdings so it is important to always plan ahead should in case things doesn't go as planned.

There are some people who works in a company that don't pay workers salaries on time (delays payments) and those people if they are invest in Bitcoin and they are not saving some funds for emergencies and just saving for nothing, by the time month end and there is no payment they will want to sell some coins and use the money to support them self untill payment is made.

Depending on salaries alone is not enough to buy and hodl especially when you are using DCA because in the course of your salaries not coming at regular intervals it may affect your DCA so it is advisable to also have another medium of earning an income that you can be sure of at the end of the day so that it wouldn't affect your investment goals. Having external savings from your earnings is also very important so that in a case of your income being delayed, you can just go to your savings to sort out yourself.

[Su-asa]

\\\.

If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

[Julien_Olynpic]

Well, we can only congratulate the topicstarter on his acquisition. For many people, buying Bitcoin is more of a symbolic act, because hardly anyone would argue that in the modern world Bitcoin is a cult item. It is correct to store Bitcoin in a cold wallet. But I would recommend storing your Bitcoin on a multi-signature wallet. For example, 2 out of 3. By the way, Electrum also has multi-signature wallets, but, in my opinion, they are hardly the best. It seems that multisignature on Electrum does not support Segwit addresses. You might consider Sparrow-wallet.

[kojektea]

I think you can continue to update this thread in a few months or every year let's see how your savings are in the long term in bitcoin. Yesterday my friend also started buying bitcoin to save. I think in 6 months from now at least he will have more assets than saving in a bank. The best alternative for saving is in crypto by buying bitcoin. If it is long term and most trustworthy, I can assure you that Bitcoin is the most worthy of trust because it is very iconic in crypto.

[Doell]

I think you can continue to update this thread in a few months or every year let's see how your savings are in the long term in bitcoin. Yesterday my friend also started buying bitcoin to save. I think in 6 months from now at least he will have more assets than saving in a bank. The best alternative for saving is in crypto by buying bitcoin. If it is long term and most trustworthy, I can assure you that Bitcoin is the most worthy of trust because it is very iconic in crypto.

I think this is a good idea, to see how OP funds are progressing. But I think if the price of bitcoin fall and OP have extra funds which are not emergency funds, it would be better to invest again to have more satoshi. Anyway, cryptocurrencies and banks is very different, and yes OP and your friends really right to save their funds in crypto especially bitcoin because it is profitable also safe and reliable.
@OP, Congratulations, you are on the right path because it is never too late to start invest in bitcoin.

[wmaurik]

If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

That is a very good thought, but you also have to realize that not everyone can think like that, especially those who don't like Bitcoin. Even though many media have explained that Bitcoin is very good and suitable for long-term investment using savings that are not intended for emergency funds in life. Because if there are many people who want to think like that by putting more money into Bitcoin investments without thinking about selling in the near future, maybe the price of Bitcoin will experience price increases more often than corrected.

[bettercrypto]

Since you have done that OP, expect the ROI profit that you will get; we just don't know if x2 or more can come back to you from the amount that you started OP. The good and important thing about this step is that you have made the first move here, and that will continue.

I congratulate you, and I can say that it is a good starting experience for you in this field of the bitcoin industry. I also admire you because you also know how to listen to the advice of other communities on this forum platform.

[slaman29]

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If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

Firstly, congrats How much have you been able to add since OP? New Year bonus I hope

This is me, my Bitcoin is my savings which means only to be used in emergency or in retirement, I hope the retirement option kicks in if BTC is 1 million before I actually retire in about 25 years lol

My advice is to have no expectation. You just started so keep building for a whole 4/5 years (1 cycle). Bitcoin still too unpredictable to rely on it but I'm glad you already understand this is a longterm thing!

[Shamm]

Glad that you took the community’s suggestion and chose to be the part of Bitcoins family. I am 100% sure that you won’t regret this decision. If you have some funds for investing in long term, then Bitcoins are the best according to me. Its decentralised nature will definitely help you to save from paying unnecessary taxes. Just keep showing trust in the coin and you will never regret investing in Bitcoins. Wishing you all the best for your future mate.

Yes mate Op will not regret once he invested in Bitcoin cause we all know how Bitcoin works if he invested Bitcoin then he can earn more profits in Bitcoin but it will happen for a long term cause we all know that Bitcoin is for long term investment , so he must wait for months or even years to achieve what others already achieved. Also Op don't need to worry about cause Bitcoin is one of the best coin for investment it's proven and tested so we can guarantee that 100% safe than other coins. So good luck Op for your Bitcoin.

[lizarder]

However, that was the best time to buy some Bitcoin, but still, today I have finally bought my first Bitcoin. It is quite hard to do this, but I finally did it.
on this thread, I talked about my plans on how I can buy Bitcoin monthly, but I finally changed the plans, so I have save enough money through the help of my business (I have cars that I use for bolt business and I am making good profits from it).
Although I bought my first Bitcoin through a P2P transaction with an exchange wallet, after receiving my first coins I have to resend them to an electrum Bitcoin wallet because it is safer.

Congratulations to those of you who have successfully made your first bitcoin purchase and we hope this is the first step for you to continue collecting responsibly. Everyone starts having difficulties when they first start because they may not have much experience and over time they will get used to it by themselves. But what you need to know is how to invest responsibly and don't need to force yourself to sell goods, cars and take all the money from business profits, because there is a monthly purchasing method that you can do.

That's much better because your bitcoin ownership is much safer than storing it on any exchange. This is quite important to pay attention to so that the investment you undertake does not pose a risk of loss. Stay consistent and you can continue to purchase bitcoin regularly using the DCA method and the important thing is not to force yourself to buy with all the money you have.

[cryptoWODL]

That's much better because your bitcoin ownership is much safer than storing it on any exchange. This is quite important to pay attention to so that the investment you undertake does not pose a risk of loss. Stay consistent and you can continue to purchase bitcoin regularly using the DCA method and the important thing is not to force yourself to buy with all the money you have.

Dollar-Cost-Averaging (DCA) method has made it easy for everyone to invest now if anyone wants to invest in Bitcoin then they can start investing with a very small amount using this method. Dollar-cost averaging (DCA) is a special type of strategy where investors buy small amounts of Bitcoin regularly over a period of time as the price of Bitcoin fluctuates. This dollar-cost-averaging (DCA) method allows traders to take entries at the right time and right price.

There are many people who cannot buy large amounts of bitcoins at once but they are gradually increasing their bitcoin investment by investing in the dollar-cost-averaging (DCA) method. But one thing to keep in mind while investing in Bitcoin is that the amount of money you are investing in Bitcoin, if you need money at some point, you have to supply the money without selling your invested Bitcoin

[JayJuanGee]

\\\.

If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

You seem to be struggling with the idea of an emergency fund.

Yeah, of course, people are not used to maintaining an emergency fund, and surely many times such emergency funds are not easy to build or to maintain, especially if the money is tending to debase with such rapidity.

For sure, there is balancing going on, and you seem to believe that you are better off having an emergency fund a smaller amount so that your money can be working.. such as being in bitcoin, and sure maybe, if someone is new to investing, they may well choose to maintain a way smaller emergency fund because they hardly have any investment size....  and sure, part of the reason that a lot of newbies will end up getting recked out of their investment is because they did not maintain a large enough emergency fund to deal with unexpected circumstances.. and it happens all of the time, especially for newbies who have no other sources to draw upon if their cashflow dries up or is not sufficient to cover their expenses besides whatever small emergency fund they have and their investments (perhaps only into bitcoin), so they could end up getting fucked pretty badly to spend a significant time building their investment and not having enough reserves to cover short-falls in their cashflow.

Do I need to present another example?  

Let's say that a person started investing $100 per week into bitcoin in October 2019... So he started at a pretty reasonable price and the BTC price largely went up from October 2019 until late 2021 and then ended up correcting a lot during 2022, but he kept investing into bitcoin and thinking that a new ATH would come, and BTC prices would reach $100k or more, but the prices were already in the lower $40ks and upper $30ks.  So maybe he ends up investing nearly $13k into bitcoin and even having right around 0.8 BTC.. but at the same time he had not been maintaining a very large emergency fund... and so we know what ended up happening from May 2022 to December 2022, and if he might not have been able to cover that period, and he kept drawing from his cash, then he may well end up depleting large parts of his BTC stash.

So what happens if during that time (even in early 2022), he is already suffering from cashflow issues, and he believes that he can handle the matter and from our earlier hypothetical, his expenses are around $500 per month and his cash flow had historically been $300 to $1,200 with most of the time being around $500, but then maybe he is ONLY getting $300 or maybe even some worse circumstances, and some of his expenses are going up too.. due to the Emergency status.

So he has no choice but to start to dip into whatever emergency fund that he has left, and the BTC price keeps dropping? and so by May 2022 the price is dropping a lot, and maybe he would end up having to sell bitcoin at a time and price that ends up NOT being very convenient... and he is selling as little BTC as he can, but he does not have complete control over the situation and if his situation does not resolve and he keeps selling as little of his bitcoin as possible he could still end up with very few bitcoin and even inabilities to replace whatever he sold when the BTC price starts resuming up in 2023.  

I am not trying to say that an emergency fund is going to resolve everything, and surely there can be various backups that people have, but if you are working with the hypothetical, you should be able to figure out some reasons in which it may be a good idea having an emergency fund, even though maybe it is not a very high likelihood that you would end up using it.. but at the same time, having to sell any of your BTC during periods that you should be either accumulating or at least holding would not be helpful to your longer term prospects, and frequently poor people never are able to get rich in part because they fail/refuse to maintain a sufficient/adequate emergency fund, and they end up using their investments (such as BTC) as their emergency fund.

[AYOBA]

Congratulations on reaching your objectives! Keep working to improve your lives, as nothing good comes to those who do a sensible things that will make them happy in the long run. Since buying bitcoin is similar to planting a crop and waiting to invest, it indicates that you are prepared for the next bull run.

However, if you really want to take full advantage of the bull run, you can still buy more bitcoins as the more you buy, the larger your profits will be.

[bitzizzix]

This OP's story reminds me of the first time I was able to buy Bitcoin, and at that time there was definitely a feeling of hesitation about buying it because it was a new experience and there was also a fear of losing or losing.
However, after buying it, not long after the price of Bitcoin rose and I made a profit from the Bitcoin and that made me feel happy and motivated which made me enthusiastic to be more active in making money and so that I could buy Bitcoin again.
And the money I earn to buy Bitcoin from my side job and not use the money I earn from my job or salary, and I buy it in stages or do DCA from the money I earn from my side job.
And OP has a car that can be turned into a business that can make money and that's good, because you have income that supports you to be able to continue buying Bitcoin. And my advice is that you should do the DCA strategy without having to save and you can buy it according to your ability after you get a profit from your business and do this for the long term then you will get big profits in the long term.

[Wiwo]

Ops congratulations to you on your Bitcoin purchase,  I don't know if this is your first Bitcoin purchase or a follow what you already started some time ago,  btw it is nice to see that you have taken that step to accumulate some bits of data as an investment,  I believe in the long term you will be able to accumulate more Bitcoin as your cashflow increases because the journey is still far from finishing and considering how little your amount in accumulation is it becomes obvious that you will need to make several and more Bitcoin purchase as a follow up if you want to starch up an amount that could yield good profits on the long run.

But then also it good to see that you are beginning to engage in discussions that can help you make a quick and flexible Bitcoin purchase journey to arrive at your Bitcoin accumulation point before your timing.

[Mate2237]

\\\.

If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

You seem to be struggling with the idea of an emergency fund.

Lolz, he thought emergency fund is something one can save and be using it in the future. Well government might do that because they have enough funds to be used in the future but I don't think so for individual  I don't think so but in the cryptocurrency investment, emergency funds is the cash you have aside from the main investment funds and that will also  brought the clause I have been using since, "have something doing before you start your investment, you that you won't spend your investment funds, and what you are doing can be your emergency funds. But @JayJuanGee can explain more better for everyone's understanding because the "Emergency Funds" here is like giving extra meaning to the conventional meaning. And that might be the misunderstanding of some us because they might only understand it from the dictionary and general uses of the "Phrase".

And as it said earlier, emergency funds are not easy to save or keep because problem arise in human life every day so if you are keeping more to invest then you have to displayed yourself for some minor occurrence but even that is to not easy to bypass. But some people used to keep or luck emergency funds in apps to be use in the future, so when Bitcoin price low and you have emergency funds at that time then it is good for you to top up your wallet with good amount of Bitcoin if only you have enough emergency funds at that time.

[JayJuanGee]

Ops congratulations to you on your Bitcoin purchase,  I don't know if this is your first Bitcoin purchase or a follow what you already started some time ago,  btw it is nice to see that you have taken that step to accumulate some bits of data as an investment,  I believe in the long term you will be able to accumulate more Bitcoin as your cashflow increases because the journey is still far from finishing and considering how little your amount in accumulation is it becomes obvious that you will need to make several and more Bitcoin purchase as a follow up if you want to starch up an amount that could yield good profits on the long run.

But then also it good to see that you are beginning to engage in discussions that can help you make a quick and flexible Bitcoin purchase journey to arrive at your Bitcoin accumulation point before your timing.

I still think that since OP had overinvested in his initial investment, he might not be in a position to buy very many bitcoin, even though like he said it may be good to DCA some small amount.  But part of the problem is that OP seems to have such a small income, so it could take him a while to build up his emergency fund and maybe even to build up enough to have for buying on dips.. just in case or just to have that money available...

In the end, OP knows his situation better, and he did not really say where he got the money because it is way beyond the amount that he initially planned to in vest (maybe right around 30x higher).. so it could take a bit of time to get back into balance if someone engages in a behavior that is around 30x his normal budget an does not provide a context or explanation for how that is not overly doing it.

Don't get me wrong.  I am not poo pooing the idea of front loading an investment, and I am also not poo-pooing the idea of continuing to DCA, but sometimes if a person over does it and does not have an emergency fund, then he is not investing, he is gambling, so he runs the risk of the BTC price moving against him and also that he might not be sufficiently/adequately prepared for if some other issues might come from his using money that might have had meant to be his emergency fund.

Normal people (including gamblers) do these kinds of things all of the time, and sometimes it ends up working out.  I recall a forum member in around 2016 (or maybe it was 2015) who had sold his house and used much of if not all of the proceeds to buy bitcoin, and there were several months that the BTC price moved against him, so it took a bit of time before he was looking like a genius.. and there are other people who gamble in those kinds of ways and the situation does not work out as favorable.

We do have a nice set up for some ETF approvals and other various bullish events in the short term and maybe even in the next year or two, but surely none of that is guaranteed to play out favorably, which is part of the reason to try to prepare for either direction (even during times in which the price and circumstances seem favorable).

If one can save bigger amount for emergencies in 9 months, he should just concentrate on the investment for some times until the emergency funds is low then he can continue saving for emergencies, like after removing the monthly expenses from the monthly salaries hes receiving then he should just put the rest of them into Bitcoin.

You seem to be struggling with the idea of an emergency fund.

Lolz, he thought emergency fund is something one can save and be using it in the future.

That could be.  Although I am the one that said that if your emergency fund is BIG enough, then you can float it.  He seemed to be erroring in the other direction of not needing to have an emergency fund.

Furthermore, in another post, he seemed to have had been describing emergency funds as something that you spend every month, so if you have a $300 budget, then you have $100 in expenses $50 in personal, $50 to buy bitcoin and the other $100 for an emergency fund.. meaning just extra things that you had not thought about.. .. so I am having trouble thinking that he has his emergency fund situation figured out... but if you are living with mom and dad, then maybe you don't really have to worry if they are going to bail you out, then you don't really need an emergency fund.

Well government might do that because they have enough funds to be used in the future but I don't think so for individual  I don't think so but in the cryptocurrency investment, emergency funds is the cash you have aside from the main investment funds and that will also  brought the clause I have been using since, "have something doing before you start your investment, you that you won't spend your investment funds, and what you are doing can be your emergency funds.

I think that there can be some flexibility in terms of how to treat an emergency fund, but it seems that 3-6 months worth of expenses would be the normal range that people think about, and surely I think that 3 months can be quite low, but sometimes people want to live dangerously and if there is work to build the emergency fund, from my own point of view, I think that you can sometimes draw on it and even be a bit risky, but if you are in the practice of doing that too much you are likely going to end up screwing it up, so that is part of the reason that I suggest a larger cushion prior to allowing it to float, so maybe the cushion would be closer to 6 months, but you might float between 6 and 9 months, so you allow it to build to 9 months, but sometimes you might draw it down to 6 months, and when you start going below 6 months, then you have to be more careful to be working on building it rather than drawing upon it... but surely guys are going to draw those lines in differing kinds of ways. .. which is fine as long as they don't end up getting burnt... and then regretting their lack of a sufficient/adequate cash cushion.

But @JayJuanGee can explain more better for everyone's understanding because the "Emergency Funds" here is like giving extra meaning to the conventional meaning. And that might be the misunderstanding of some us because they might only understand it from the dictionary and general uses of the "Phrase".

That's true.. sometimes we might get caught up in semantical arguments in which guys have differing understandings, and it seems to me that part of the way of really learning about these kinds of things is to put them into practice and to continue to try to learn how to balance them in light of your own personal circumstances, and trying to pay attention to your own comfort levels and various kinds of times in which you might be depleting your cash cushion.. ..

and everyone is likely going to have some float in his income, so for example, if someone  only get's paid once a month, then there are going to be periods around getting paid that everything seems fine, and towards the end of the month is the part in which there may well need to be a no matter what cushion that the amount of cash does not go below a certain amount.  Of course, getting paid more frequently will help the within the month possible short-falls, and so someone who gets paid only once a month likely has to keep a larger cushion than someone who gets paid more frequently...

..and part of my point that the lowest reserve is likely going to come at similar times each pay period or each month and you can monitor those periods, including figuring how you might treat different levels of reserve.. and how much tolerance do you have for your cashflow to get to certain low levels.. which surely I consider to be stress that is unnecessary because it is the kind of stress that you can avoid and/or minimize.. and other aspects of having an emergency fund will make it quite more likely that you will not experience emergencies as compared to the person who does not have an emergency fund or who has an inadequate emergency fund may well end up going through emergencies every one or two months.. which just seems crazy to me... but we know that people live like that and when you are a serious investor in something like bitcoin, there is no excuse to have those kinds of incidents.. there should be zero tolerance for such.. .and you should be able to go 15 or 20years without ever having any emergency incident because you always maintain a sufficient/adequate cushion.

Some people actually believe that it is normal to have emergencies several times a year and maybe even every month or two, and that does not happen with decently well organized people.. and part of the secret is the creation and maintenance of a sufficient/adequate emergency cushion (fund).

And as it said earlier, emergency funds are not easy to save or keep because problem arise in human life every day so if you are keeping more to invest then you have to displayed yourself for some minor occurrence but even that is to not easy to bypass. But some people used to keep or luck emergency funds in apps to be use in the future, so when Bitcoin price low and you have emergency funds at that time then it is good for you to top up your wallet with good amount of Bitcoin if only you have enough emergency funds at that time.

I would not call your float to buy extra BTC emergency funds, yet I do not disagree with the overall point that there can be all kinds of ways that extra funds are kept and that your emergency funds can be seeming to work for you in a variety of ways, while at the same time, you should be keeping track of them and not letting them drop below certain levels in the aggregate or even in various places that you might have varying categories of extra funds.

[shepherd_gee]

I love your aura for investing. It takes a million convincing from your crews to be able to take the bull by the horn. I wish I'm you, I envy your courage to invest. Kudos the sky is only just the starting point. You'll never regret this great journey of yours

[Cryptoearner]

Congrats on your first buy I still remember when I bought my first Bitcoin on a local exchange for fear of losing money but I still gave up everything I bought my first coin and from that year till today I am still stuck with Bitcoin & crypto market.
The biggest lesson I have learned in crypto is to store your coins in a wallet where you take ownership, of your keys, and your coins. Hence I suggest going with a Hardware wallet or paper wallet for better protection. Also, distribute your coins to different wallets.