Buy Buy Buy or Sell Sell Sell?

[BluebloodCXVI]

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Your discretionary consumption is very important as a long term bitcoin investor and shouldn't be neglected because investing in bitcion isn't punishment but a way to build wealth without depriving yourself from those things you will need to use part of your discretionary income for. Discretionary consumption is what you use part of your discretionary income to buy for yourself.

No one is looking for fault in investing. It's true, as you said, that we can't help but pursue our desire to continue investing, but we don't meet our daily consumption needs at all. This isn't a good thing, and I think it's better to avoid investing for now. The reason is quite clear: consumption needs are far more important than achieving maximum investment returns, but these needs are difficult to meet. This is one of the mistakes we make, especially when investing long-term.

Unless we have more than one income, that's a different story. The goal of prioritizing wealth is no longer a problem, as adjustments can be made. Many investors have set aside other sources of income to meet consumption needs, while only a small portion of them continue to focus on their goal of achieving wealth through their long-term investment plans.

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

[cyberninja2]

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No one is looking for fault in investing. It's true, as you said, that we can't help but pursue our desire to continue investing, but we don't meet our daily consumption needs at all. This isn't a good thing, and I think it's better to avoid investing for now. The reason is quite clear: consumption needs are far more important than achieving maximum investment returns, but these needs are difficult to meet. This is one of the mistakes we make, especially when investing long-term.

Unless we have more than one income, that's a different story. The goal of prioritizing wealth is no longer a problem, as adjustments can be made. Many investors have set aside other sources of income to meet consumption needs, while only a small portion of them continue to focus on their goal of achieving wealth through their long-term investment plans.

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

Our goal isn't to avoid investing, as you stated, but if our income is only sufficient for our needs, it's more appropriate to prioritize what we need, and those investments can still be made at any time.
And even though income comes from multiple sources, everyone clearly has their own perspective before making a decision. This doesn't mean those with one source are incapable of investing. Sometimes those with one source are better at consistently investing, while those with more than one source are often less consistent. That's our point about the purpose of the statement.

The issue of spending depends on each individual's financial management. Furthermore, you're right about those with relatively small incomes who are able to maintain financial stability, allowing them to manage both simultaneously. This demonstrates their consistency in carrying out the two tasks they desired before venturing into the venture.

[Hardyrobust]

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Your discretionary consumption is very important as a long term bitcoin investor and shouldn't be neglected because investing in bitcion isn't punishment but a way to build wealth without depriving yourself from those things you will need to use part of your discretionary income for. Discretionary consumption is what you use part of your discretionary income to buy for yourself.

No one is looking for fault in investing. It's true, as you said, that we can't help but pursue our desire to continue investing, but we don't meet our daily consumption needs at all. This isn't a good thing, and I think it's better to avoid investing for now. The reason is quite clear: consumption needs are far more important than achieving maximum investment returns, but these needs are difficult to meet. This is one of the mistakes we make, especially when investing long-term.

Unless we have more than one income, that's a different story. The goal of prioritizing wealth is no longer a problem, as adjustments can be made. Many investors have set aside other sources of income to meet consumption needs, while only a small portion of them continue to focus on their goal of achieving wealth through their long-term investment plans.

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

you must not have several sources of income before you buy bitcoin. What is needed is discretionary income. For someone with a single source of income, that has discretionary income they can start investing in bitcoin based on their available cash. They can also look for another source of income to increase or to generate more discretionary. It is important to invest in bitcoin according to our financial situation, this will help us to be consistent in buying bitcoin and holding for the long run.

[alankasman]

you must not have several sources of income before you buy bitcoin. What is needed is discretionary income. For someone with a single source of income, that has discretionary income they can start investing in bitcoin based on their available cash. They can also look for another source of income to increase or to generate more discretionary. It is important to invest in bitcoin according to our financial situation, this will help us to be consistent in buying bitcoin and holding for the long run.

Your idea or statement is more accurate, my friend. No matter how much income they generate, whether weekly or monthly if they don't know the method or strategy they won't be able to achieve results. In other words, they can't understand adjustments even if they have a strong grasp of multiple sources but that isn't the main strength for someone starting to invest in Bitcoin.

Even if there is one source but they understand how to do several things, I think this is a form of someone's thoroughness in formulating a strategy before starting to invest, for example with very little results but the strategy that allows them to do two things simultaneously, so they succeed in implementing what they thought long before they started investing because they also realize that what they earn every week or month is only very little, but their wishes must still run as they wanted before starting.

[JayJuanGee]

Also, as you are getting your discretionary income, you can decide to divide it in 2 or 3 bodies. One can be used for your investment, the second can be used for your emergency funds and the last can be for your reserve funds,

You are getting it all wrong with this your analogy here because I believe that it is not the best way to divide your discretionary income to invest with. Dividing your discretionary income into two part is not the right idea, but rather I think that three equal part will be much ok, one part for investment, one for your backup funds and the last part for your discretionary consumption, with that you can invest more comfortable and consistently without much trouble.

Why some investors have problems with their investments is because they don't even know that they must make provisions for discretionary consumption from their discretionary income, they just focus only on investment and back up funds which is not right.

I don’t know what you actually mean by discretionary consumption. Your discretionary income is meant to be divided into 3 bodies, which is for Investing, emergency funds and reserve funds.

Emergency and reserve funds are largely the same thing, so they do not fit into two different categories since they are both forms of back up funds or savings or cash or cash cushion.

The three categories are invest, save, consume.

Think about it.

You have options in regards to how to use (or keep) your discretionary funds.

Invest

Save

consume

If you are describing emergency funds and reserve funds as two separate categories, then you are wrong, since they both fit into the save category.

The reason I mentioned 2 or 3 bodies is because, some people might not have a very heavy discretionary income, so dividing it in 3 places will not only make their accumulation very slow but also the emergency funds will be small even when they hit an emergency problem, and they can be forced to sell untimely.

You are starting from a faulty presumption, so why can the rest of what you are saying make sense?

Ok.. sure.. maybe I am being too harsh.. but still .. how you use your discretionary money is not only about investing and savings.

You have one more category to consider... which is consumption.

Maybe you are mixing up basic consumption and discretionary consumption?

Those are two separate category.. basic consumption are needs.. and discretionary consumption are wants..  Does that help?  probably not.  you have to think through the categories because they make sense if you think about them and you put them into practice.

Discretionary consumption from what I believe you mean are not things to be considered before your investment and emergency and reserve funds. You can’t even include it as part of your investment circle mate. Bitcoin is meant to build a future with, and you bringing up spending on non essential food.

You make no sense, @Abbatty.

There is non-discretionary consumption and discretionary consumption.  They are not the same, even if some folks might wrongly treat them the same.

Let's say that you were considering buying a meal at home that might include all of your nutritional needs and it costs you around $5-$10, depending on the ingredients. Maybe instead you decide to go to a fancy restaurant, and maybe similar food at the restaurant might cost you $30 to $100, depending on which menu options that you choose.  Sure, you are getting the basic nutrition of the items that would have had cost you $5 to $10 to cook, but instead you are spending $25 to $95 extra in order to get someone else make it for you, and maybe you get a nice environment to eat the food.  You don't have to cook, clean or do the dishes, but you paid extra for that, and the extra costs seems like a want rather than a need... but you can assess it however you like and deploy fuzzy logic in your assessment of various expenses that you might have or choose to have.

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Your discretionary consumption is very important as a long term bitcoin investor and shouldn't be neglected because investing in bitcion isn't punishment but a way to build wealth without depriving yourself from those things you will need to use part of your discretionary income for. Discretionary consumption is what you use part of your discretionary income to buy for yourself.

No one is looking for fault in investing. It's true, as you said, that we can't help but pursue our desire to continue investing, but we don't meet our daily consumption needs at all. This isn't a good thing, and I think it's better to avoid investing for now. The reason is quite clear: consumption needs are far more important than achieving maximum investment returns, but these needs are difficult to meet. This is one of the mistakes we make, especially when investing long-term.

Unless we have more than one income, that's a different story. The goal of prioritizing wealth is no longer a problem, as adjustments can be made. Many investors have set aside other sources of income to meet consumption needs, while only a small portion of them continue to focus on their goal of achieving wealth through their long-term investment plans.

You @cyberninja2 seem to be mixing up and convoluting the idea of consumption, and failing/refusing to distinguish between needs and wants. you may well not understand discretionary income (or discretionary funds) if you cannot clearly figure out what are basic needs versus what are optional expenses (aka wants or nice to haves).

[edited out]

Our goal isn't to avoid investing, as you stated, but if our income is only sufficient for our needs, it's more appropriate to prioritize what we need, and those investments can still be made at any time.
And even though income comes from multiple sources, everyone clearly has their own perspective before making a decision. This doesn't mean those with one source are incapable of investing. Sometimes those with one source are better at consistently investing, while those with more than one source are often less consistent. That's our point about the purpose of the statement.

The issue of spending depends on each individual's financial management. Furthermore, you're right about those with relatively small incomes who are able to maintain financial stability, allowing them to manage both simultaneously. This demonstrates their consistency in carrying out the two tasks they desired before venturing into the venture.

If guys do not have enough income to clearly establish that they have discretionary funds and/or enough discretionary funds that they are not going to end up needing them later in order to cover their basic expenses, then they should not be investing.

Guys need to have sufficient discretionary funds to invest, otherwise they are gambling with money they need to cover their basic expenses in the future.

in other words, each of us should be using money that we can release for 4-10 years or longer and also money that we can afford to lose, which means that we are not going to get emotionally attached if the investment goes up, down or sideways because we don't need it in order to live our regular anticipated lifestyle.

[Umulala-alala]

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

Having a source of income doesn't still mean that one can invest in bitcoin, you can have a source of and still can't be able to figure out any discretionary income to invest in bitcoin, so what an investor need to invest in bitcoin is their discretionary income, I have seen low income earners still invest in bitcoin, with one source of income one can still invest in bitcoin if he can figure out his discretionary income and still be sourcing for how he can increase his sources of income to sustain his investment for a long time.

[PhilosopherKing]

you must not have several sources of income before you buy bitcoin. What is needed is discretionary income. For someone with a single source of income, that has discretionary income they can start investing in bitcoin based on their available cash. They can also look for another source of income to increase or to generate more discretionary. It is important to invest in bitcoin according to our financial situation, this will help us to be consistent in buying bitcoin and holding for the long run.

Your idea or statement is more accurate, my friend. No matter how much income they generate, whether weekly or monthly if they don't know the method or strategy they won't be able to achieve results. In other words, they can't understand adjustments even if they have a strong grasp of multiple sources but that isn't the main strength for someone starting to invest in Bitcoin.

Even if there is one source but they understand how to do several things, I think this is a form of someone's thoroughness in formulating a strategy before starting to invest, for example with very little results but the strategy that allows them to do two things simultaneously, so they succeed in implementing what they thought long before they started investing because they also realize that what they earn every week or month is only very little, but their wishes must still run as they wanted before starting.

Bruh, what strategy are you even taking about? You want us to first formulate a strategy before starting, huh? What makes you think that the strategy will bring definitive results. Imo, a person could have a strategy and still decide not to follow or the person could follow it and still loose. So how about you quit muddling up this whole investment stuff to avoid making it so complicated and difficult to beginners.

All person need to invest is their discretionary income and then some common sense to use to figure the amount they can use that will not affect them. There is not productivity in delays,  this is why the investor can plan or do whatever the fuck they want along the way. And person do not need to have a lot of income before they can get that discretionary income. Afraik, figuring out discretionary income can even be done when there is no source of income.

[Rhow]

Also, as you are getting your discretionary income, you can decide to divide it in 2 or 3 bodies. One can be used for your investment, the second can be used for your emergency funds and the last can be for your reserve funds,

You are getting it all wrong with this your analogy here because I believe that it is not the best way to divide your discretionary income to invest with. Dividing your discretionary income into two part is not the right idea, but rather I think that three equal part will be much ok, one part for investment, one for your backup funds and the last part for your discretionary consumption, with that you can invest more comfortable and consistently without much trouble.

Why some investors have problems with their investments is because they don't even know that they must make provisions for discretionary consumption from their discretionary income, they just focus only on investment and back up funds which is not right.

Discretionary consumption from what I believe you mean are not things to be considered before your investment and emergency and reserve funds. You can’t even include it as part of your investment circle mate. Bitcoin is meant to build a future with, and you bringing up spending on non essential food.

You are a little mistaken here, discretionary consumption does not mean unnecessary luxury, and it is not right to consider it as a competitor to investment. I consider myself a long-term Bitcoin investor, if I now pour all my discretionary income into Bitcoin, emergency funds and reserves, but do not keep anything for myself for small natural desires, then I may question whether I can carry out my plan in the long term. Because at some point my life may feel like a punishment. Investing is not a punishment, nor is it worth taking mental pressure. I see Bitcoin as a way to build future wealth. But while building that future, I do not want to put my current life under such a difficult pressure. Because it may go against my own plan. Even personal expenses in such a situation can force me to close DCA, break reserve, or sell Bitcoin at a bad time.

[Olatundespo]

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

Having a source of income doesn't still mean that one can invest in bitcoin, you can have a source of and still can't be able to figure out any discretionary income to invest in bitcoin, so what an investor need to invest in bitcoin is their discretionary income, I have seen low income earners still invest in bitcoin, with one source of income one can still invest in bitcoin if he can figure out his discretionary income and still be sourcing for how he can increase his sources of income to sustain his investment for a long time.

There are no strict guidelines for investing in Bitcoin. A person may have a small income that can cover all the expenses of his family. But if his discretionary income is zero at the end of the week, it may be difficult for him to invest in Bitcoin, but his sincere efforts can soon change his financial situation.

In fact the amount we are talking about as zero can be $20 or $30 if he is able to reduce his personal expenses. If a person can spend on his family and meet his daily needs well then it will not be difficult to accumulate Bitcoin every week. I have seen many Bitcoin investors who are managing all the expenses of the family with a single source of income and are accumulating Bitcoin regularly.

What an investor needs in the beginning is an additional fund not only discretionary income. An investor can start investing in Bitcoin even if he has inherited cash funds or his father or mother gave him.  Having a stable income means you are best suited to continue accumulation Bitcoin for the long term but if you have extra funds available don't waste time holding Bitcoin before the price of Bitcoin increases too much.

[BluebloodCXVI]

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

Having a source of income doesn't still mean that one can invest in bitcoin, you can have a source of and still can't be able to figure out any discretionary income to invest in bitcoin, so what an investor need to invest in bitcoin is their discretionary income, I have seen low income earners still invest in bitcoin, with one source of income one can still invest in bitcoin if he can figure out his discretionary income and still be sourcing for how he can increase his sources of income to sustain his investment for a long time.

Well if a person can’t figure out their discretionary income, that’s a different question and i don’t think that such a person should be thinking of investing in bitcoin, rather they should be ongoingly trying to increase the cash inflow and perfect their money management skills.

It’s not rocket science to know that you have to learn how to walk first before you can learn how to run; prioritize what is important first and then you can invest when it is convenient, what’s the rush about.

[NewRevelation]

Also, as you are getting your discretionary income, you can decide to divide it in 2 or 3 bodies. One can be used for your investment, the second can be used for your emergency funds and the last can be for your reserve funds,

You are getting it all wrong with this your analogy here because I believe that it is not the best way to divide your discretionary income to invest with. Dividing your discretionary income into two part is not the right idea, but rather I think that three equal part will be much ok, one part for investment, one for your backup funds and the last part for your discretionary consumption, with that you can invest more comfortable and consistently without much trouble.

Why some investors have problems with their investments is because they don't even know that they must make provisions for discretionary consumption from their discretionary income, they just focus only on investment and back up funds which is not right.

I don’t know what you actually mean by discretionary consumption. Your discretionary income is meant to be divided into 3 bodies, which is for Investing, emergency funds and reserve funds.

Emergency and reserve funds are largely the same thing, so they do not fit into two different categories since they are both forms of back up funds or savings or cash or cash cushion.

The three categories are invest, save, consume.

Think about it.

You have options in regards to how to use (or keep) your discretionary funds.

Invest

Save

consume

If you are describing emergency funds and reserve funds as two separate categories, then you are wrong, since they both fit into the save category.

There is no way we can take away the part or role of discretionary spending and/or consumption in out attempt to allocate our discretionary to different areas of usage. As much investing and back up funds are important, consumption is also important. So making a list of how our discretionary income is spent as an investor, and excluding consumption as @Abbatty pointed out is totally wrong.

Perhaps, in context, we would describe both emergency funds and reserve funds as one since they are both oart of the back up funds that an investor needs to guard his investment and avoid unwanted tapping in difficult financial period.
Further, for an investor who is still in the early stages of his investment, he should pay more attention to building a safety net, that's putting more priority to his back up funds, while gradually buying using the DCA. And is he is able to build it(back up funds) to a reasonable high standard, then he can prioritize his investment a bit more. Thus, everything largely depends on his level of discretionary available.

[Sim_card]

What an investor needs in the beginning is an additional fund not only discretionary income. An investor can start investing in Bitcoin even if he has inherited cash funds or his father or mother gave him.

It's still the same thing as discretionary income. Any funds on you that have no important use and you can do without it, it wouldn't affect your basic needs and expenses is your discretionary income. Discretionary income can be gotten from the extra money left from your income after you have taken care of your basic needs and monthly expenses.

Money given to you as a gift by your parents, Boss, friend or relative is also discretionary income. Like the money you inherited is also you discretionary income. Discretionary income is the right money one should invest with because it enables you hodli your bitcoin for long if you're determine to do so.

Even if there is one source but they understand how to do several things, I think this is a form of someone's thoroughness in formulating a strategy before starting to invest

I don't understand the kind of strategy that you are talking about and plan to formulate. Maybe, you can tell us and explain better if this strategy is better than DCA strategy that enables you to frequently buy bitcoin weekly consistent and persistent overtime.

I only know of three bitcoin accumulation strategies which are DCA, Lump sum and Buy the dip. Any other strategy that you are formulating, you are on your own. Just don't do what will lead to regret in future.

[Different patterns]

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Your discretionary consumption is very important as a long term bitcoin investor and shouldn't be neglected because investing in bitcion isn't punishment but a way to build wealth without depriving yourself from those things you will need to use part of your discretionary income for. Discretionary consumption is what you use part of your discretionary income to buy for yourself.

No one is looking for fault in investing. It's true, as you said, that we can't help but pursue our desire to continue investing, but we don't meet our daily consumption needs at all. This isn't a good thing, and I think it's better to avoid investing for now. The reason is quite clear: consumption needs are far more important than achieving maximum investment returns, but these needs are difficult to meet. This is one of the mistakes we make, especially when investing long-term.

Unless we have more than one income, that's a different story. The goal of prioritizing wealth is no longer a problem, as adjustments can be made. Many investors have set aside other sources of income to meet consumption needs, while only a small portion of them continue to focus on their goal of achieving wealth through their long-term investment plans.

Don’t make it seem as if a person should avoid investing because they have only one source of income, that’s ridiculous because i know there are people out there who have only one source of income but are still able to be financially prudent with their investment decisions.
Having multiple incomes can certainly give you some level of flexibility with your investment but it is not a prerequisite for long term bitcoin investing.

If a guy can take care of his essential expenses and still have like $50 or $100 left with them, i don’t see anything inherently wrong with investing part of it as long as he’s not sacrificing his necessities or creating cash flow problems for himself just because he wants to invest more.

Yeah, you have a point, having only one source is not the problem, and that shouldn’t stop anyone from investing, but how well you can be able to manage that little you have that’s important point. And also having multiple sources is a very good advantage, because you can be able to handle any unexpected situation, and make your investment moving forward without any form of distraction. But i see it as wrong statement to say that person with one source should not make attempt to investing into bitcoin, normally investment in bitcoin is for everyone, is not necessarily mean, you have to be financially big before you start, as far as you have your discretionary income you can build bitcoin position gradually.

[Sammysmart001]

normally investment in bitcoin is for everyone, is not necessarily mean, you have to be financially big before you start, as far as you have your discretionary income you can build bitcoin position gradually.

For one to have juat a single source of income is never a reason not to invest. It will just have to deal with how you manages your cash flow and basic discipline.

Because you will be left behind if you only want wait for about two or three streams of income before you will want to buy your first fraction of Bitcoin. You should be able to buy $10 to $20 worth, that the whole point of Bitcoin.

So long as you are able to meet up with your basic living expenses, any discretionary income that is left, even if it little you can use it to start up a DCA strategy. Someone who can consistently be able to invest in $20 weekly from his salary will be in a better financial position in 5 years time than a Person who has multiple source of income who consumes everything that they earn.

[Finebone]

For one to have juat a single source of income is never a reason not to invest. It will just have to deal with how you manages your cash flow and basic discipline.

Who says that you must have several sources of income before one can invest in bitcoin?

I don't think he spoke of such or indirectly mean such because what an investor needs to invest in bitcoin consistently is the availability of a discretionary income. Once he can figure that out, buying right away is the best and the right thing to do, then along the line of investing, he can set up his backup funds to protect his Bitcoin holdings, just in case any emergency situation comes up that may have force his hands to temper with his investment, but with the availability of a backup funds, his investment will be safe.

[RockBell]

you must not have several sources of income before you buy bitcoin. What is needed is discretionary income. For someone with a single source of income, that has discretionary income they can start investing in bitcoin based on their available cash. They can also look for another source of income to increase or to generate more discretionary. It is important to invest in bitcoin according to our financial situation, this will help us to be consistent in buying bitcoin and holding for the long run.

when it comes to buying of bitcoin it will be better to buy what you know you can afford and you dont need to do to much when it comes investing and you can do dca it will not be a very bad idea if you have a source of income because there is no way that you can do dca without a source income so it will be better to find a way to make sure everything is balanced financially before we commence investing through dca.

Because you can not be able to invest in Bitcoin when there is no source so we have to prepare for all these things, then conclude exactly what we want to do and how we want to go about it, because if you have the intention of holding for a long time, you will have to then follow the following process that is the only way you can succeed in whatever you want to do when it comes to Bitcoin.

[Chilwell]

For one to have juat a single source of income is never a reason not to invest. It will just have to deal with how you manages your cash flow and basic discipline.

Who says that you must have several sources of income before one can invest in bitcoin?

I don't think he spoke of such or indirectly mean such because what an investor needs to invest in bitcoin consistently is the availability of a discretionary income. Once he can figure that out, buying right away is the best and the right thing to do, then along the line of investing, he can set up his backup funds to protect his Bitcoin holdings, just in case any emergency situation comes up that may have force his hands to temper with his investment, but with the availability of a backup funds, his investment will be safe.

Yes it is not under most for you to have multiple source of income, just as you said, have your discretionary income and that is final, it really doesn't matter how many source of income you have, there are a lot of people who have many source of income but could not be able to bring out even small amount as their discretionary income. The only thing that matters is to have your disciplinary income and you are good to go.

I don't know why some people see it as a very big deal when it comes to bitcoin investment, honestly bitcoin investment is the most easiest investment for anyone to do because with the little amount you can key start your investment.

[Derekfunds]

You are a little mistaken here, discretionary consumption does not mean unnecessary luxury, and it is not right to consider it as a competitor to investment. I consider myself a long-term Bitcoin investor, if I now pour all my discretionary income into Bitcoin, emergency funds and reserves, but do not keep anything for myself for small natural desires, then I may question whether I can carry out my plan in the long term. Because at some point my life may feel like a punishment. Investing is not a punishment, nor is it worth taking mental pressure. I see Bitcoin as a way to build future wealth. But while building that future, I do not want to put my current life under such a difficult pressure. Because it may go against my own plan. Even personal expenses in such a situation can force me to close DCA, break reserve, or sell Bitcoin at a bad time.

I am trying to understand what you meant by competitor investment. Using the term discretionary consumption is somehow  because this can complicate things for newbie about discretionary income and discretionary consumption and why we are using terminology we should be very mindful else you confuse yourself too and see yourself doing the wrong thing. I do not think using emergency funds and reserve funds to front load during dip is bad if someone has means of covering those loophole.

[ejikeme24]

Having a source of income doesn't still mean that one can invest in bitcoin, you can have a source of and still can't be able to figure out any discretionary income to invest in bitcoin, so what an investor need to invest in bitcoin is their discretionary income, I have seen low income earners still invest in bitcoin, with one source of income one can still invest in bitcoin if he can figure out his discretionary income and still be sourcing for how he can increase his sources of income to sustain his investment for a long time.

There's a mix up in what you're trying to explain here @ Umulala-alala.  it's true that a person can have a source of income and still end up not investing in bitcoin, Yet we still need a source of income to invest in Bitcoin because it is from our income that we will create discretionary income that will serve for our Bitcoin investment, emergency funds, and discretionary spending. Whether the source of income of a guy is stable or unstable so long as the amount they are getting is enough to pay for their expenses and still create discretionary income for them, then there's nothing to worry about unless guys will feel like having a multiple streams of income so as to enable them buy aggressively while some might went to have a multiple streams of income so as to enable them combine two strategy which is the lump sum and the DCA but it's a matter of choice. The most important thing is having a source of income.

[Charcol]

I do not think using emergency funds and reserve funds to front load during dip is bad if someone has means of covering those loophole.

Emergency fund and dip buying fund are not the same thing. Reserve fund can be somewhat flexible. Because it can be kept as planned expenses, extra cash or opportunity fund. But the main purpose of emergency fund is not market opportunity, rather its function is to protect against forced selling in times of income problem, medical issue, family expense or any other stress. So if someone buys Bitcoin with emergency fund when they see a dip, then it is not an emergency fund. The problem is that you do not know in advance when your emergency situation will come. So today you may be buying with emergency fund thinking the price is attractive, but a few weeks later when your real problem comes, you may be forced to sell. Even at that time, you may have to face losses by selling at a bad price.