Buy Buy Buy or Sell Sell Sell?

[Joy- maker]

...

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a very bad practice to invest into bitcoin with your emergency income or fail to build one alongside your accumulation journey. It places your investment at risk of being tampered in the face of real emergencies. Emergency funds are built only to attend to real emergencies and no other purpose.

No matter how aggressive an investor want to be in accumulating bitcoin, he or she should never make the mistake of accumulating Bitcoin with his or her emergency fund, it will put his or her bitcoin investment in danger and he or she may end up selling off his or her  investment in lost when emergency arise and there is no emergency fund to handle that emergency, emergency fund is supposed to be for only emergencies and not for accumulating bitcoin it is investing mistake.

[JayJuanGee]

[edited out]

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a bad practice to keep something as volatile as bitcoin as your emergency fund or even part of your emergency fund, unless you have already reached overaccumulation status.

Volatility means that you could end up cashing out of bitcoin at a time that is not 100% of your own choosing, and if you have no other options, because you already exhausted any of your back up funds including your reserve funds and/or your emergency funds, then at that point you sell some or all of your bitcoin that is at a time that is not your own choosing.  Does not seem like a good way of managing your cashflows and back up funds, to me.

Of course we wanted to save as much as we can and hold for a long time.

Frequently, I suggest to first build your emergency fund up to three months at the same time that you are building up your bitcoin, and surely once the emergency funds reaches 3 months then it does not need to be more than that, even though you might have various kinds of reserve funds that you would prefer to tap into prior to needing to touch your emergency funds.  I personally think that it is better to have your finances in a way that you never have to touch your emergency funds, so if you end up tapping into your emergency funds, you should realize that you are in a pretty bad financial situation at that time to be having to tap into your emergency funds.

I don't think that it is a good idea to save in dollars as much as you can, even though there are prudent amounts to save, but I do believe in saving into biticoin as much as you can, at least until you get to a point of overaccumulation, and it is quite likely that you will not get to overaccumulation status if you are engaging in weak cashflow management practices.

But I guess we can reset anytime as well and go back and re-invest.

Even though you have a lot of flexibility and discretion with any of your income that is beyond your expenses, which is called your discretionary income, yet at the same time, for most people, cash is not unlimited.. so you likely do not have as much flexibility and options as you seem to be describing to be the case.... especially if you are already focused on trying to aggressively invest into bitcoin.

It doesn't mean that you will sell everything maybe just withdraw a small percentage on your stash and then try to invest that kind of money.

It is a bad idea to be letting yourself fuck around with your bitcoin stash like that or even to be thinking that it is acceptable for you to authorize yourself in that direction.

Sure, in the end you can do what you like, but I would suggest that there are benefits in regards to trying to exercise self-discipline and to not be just proclaiming to yourself that you can do whatever you like..

but yeah, in the end,  these are your choices to choose how strongly to build your cashflow management systems and your back up funds and to figure out how aggressively you want to invest into bitcoin based on your own sense of what might be your financial and/or psychological priorities.

It happen to me before, during the height of pandemic as my sister got hospitalized not due to covid but because of other illness, but she eventually died  . So I have to withdraw from my holdings and never think twice to do it to help here with hospital bills. And then I just restarted again. Just check how many weeks or years I need to do it and the go back with it with that goal to continue to accumulate again.

Sorry to hear about your sister, yet I still think that we still need to attempt to be careful in regards to how much we are tapping into our bitcoin investment or that we believe that we are not severely restricted by tapping into our bitcoin at various points in time that are not of our own choosing.

From your forum registration date you have more than two cycles of investing into bitcoin (slightly more than 8 years), and surely it can take a long time to build up a bitcoin portfolio, yet even with relatively low and/or consistent investing into bitcoin, you surely could have had built a decently sized bitcoin investment by now.

[edited out]

Sorry for the loss and that is why you need to prepare yourself before starting Bitcoin investment it's obvious that you were not fully prepared financially which made you encroach you emergency funds, if not you would have gone for your reserve fund or even your float funds if you already have it because if you were having all that, maybe you wouldn't have tempered your investment, or even if you have to, it would have been little out of it, which   you don't need to start all over again, you would have just continued from where you stopped, having a reserve fund as backup is very important and necessary , it shows you are determined and willing, I

You do not need to prepare emergency funds prior to investing in bitcoin. As long as you have a discretionary income you can start investing into bitcoin and building your emergency funds at the same time.

[edited out]

No matter how aggressive you want to be in your accumulation journey, if you don't follow the right procedures by building your backup funds to protect your bitcoin portfolio, you may not be able to have a successful investment activity since you would be tampering your portfolio every now and then to solve problems that your emergency fund, variances of backup funds and floating cashes would've solved for you if you applied the correct investment practices. You can see that you fell immediately to your holdings as soon as a health emergency came up and had to liquidate your portfolio outrightly without any other option, this is what you get when you don't have backup funds in place. Although there may be scenarios that your backup funds weren't enough to bail you out of the emergency, in that case if there is no other option to get funds, your holdings might bail you out to some extent, then afterwards you can structure out ways to replace what you have depleted from your portfolio while building back your backup funds to handle other pressing matters that may arise in the future.

I get the sense that TravelMug is neither very serious about his bitcoin investment or potentially he does not really understand bitcoin very well if he continues to believe that it is a good idea to invest into bitcoin and then to fuck around with not having sufficient back up funds and/or other forms of strong cashflow management systems in place to protect him from tapping into his bitcoin at at time that is not completely of his own choosing, such as 4-10 years or more down the road..

He also might not understand the idea of investing 4-10 years or longer rather than just taking chances to play bitcoin waves from time time.. which is also known as trading and/or gambling rather than investing... so he might not even under stand that bitcoin is an investment not something to fuck around trading, the extent to which he even understands what an investment is.

[Mr Reporter]

...

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a very bad practice to invest into bitcoin with your emergency income or fail to build one alongside your accumulation journey. It places your investment at risk of being tampered in the face of real emergencies. Emergency funds are built only to attend to real emergencies and no other purpose.

No matter how aggressive an investor want to be in accumulating bitcoin, he or she should never make the mistake of accumulating Bitcoin with his or her emergency fund, it will put his or her bitcoin investment in danger and he or she may end up selling off his or her  investment in lost when emergency arise and there is no emergency fund to handle that emergency, emergency fund is supposed to be for only emergencies and not for accumulating bitcoin it is investing mistake.

I think we have been on this strategy of not using your emergency funds to accumulate bitcoin for a while, in added to what you have said using your emergency funds to accumulate bitcoin can lead to forced selling during the market  downturn and it can lead an investor to financial Vulnerability what I meant be this is that depleting emergency funds can leave individuals vulnerable to financial shocks. As an newbies or experts in the accumulation system we should all learn to have an wise allocation funda especially for bitcoin investment, while it advisable to maintain a separate emergency funds for needs.

[ejikeme24]

It is the reason why emergency funds are very important in Bitcoin investment. As Bitcoin investors, we need to have emergency funds in case an emergency arises in the future. This ensures that the investor will not be forced to sell their Bitcoin to solve the problem.One of the main reasons why some people fail to hold their Bitcoin for the long term and end up selling it at a loss is because they do not have emergency funds. If a problem arises and they have no other option, they will definitely sell their Bitcoin to solve the issue. At that period, the price of Bitcoin may be low.This has happened to me before. When I started my Bitcoin investment, I did not have emergency funds set aside. When a problem arose, I had no other option but to sell some portion of my Bitcoin at a loss. It really hurt me.

Sure, is very advisable for those that are interested to go into bitcoin investment to set emergency fund aside, this should be the first thing you will consider as a new investor. Else you will end up selling your holdings whenever emergency issues pop up, because bitcoin investment is not like other investment that you can do without setting an emergency fund aside. But in bitcoin investment is very compulsory, because the profit does not come within a short term rather it takes some couple of years before one can actually get profited. This is why having a backup is considered very important when  accumulating bitcoin, so that it will enable you leave your bitcoin untouched until when you get to the status of overaccumulation. And failure to do this will lead you into selling your bitcoin at lost just as @SoKo DEKE did and of course you wouldn't have experienced that if emergency fund was in place, I guess you weren't told about setting an emergency fund then. because had been you're aware of setting up an emergency fund, definitely this wouldn't have happened, or maybe the person that introduced you to bitcoin investment didn't inform you about having a backup......... This is why sometimes is good to make research when you're introduce into something because the person may not be able to explain everything to you, but when you make intensive research you can be able to figure out some things.

[Derekfunds]

...

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a very bad practice to invest into bitcoin with your emergency income or fail to build one alongside your accumulation journey. It places your investment at risk of being tampered in the face of real emergencies. Emergency funds are built only to attend to real emergencies and no other purpose.

No matter how aggressive an investor want to be in accumulating bitcoin, he or she should never make the mistake of accumulating Bitcoin with his or her emergency fund, it will put his or her bitcoin investment in danger and he or she may end up selling off his or her  investment in lost when emergency arise and there is no emergency fund to handle that emergency, emergency fund is supposed to be for only emergencies and not for accumulating bitcoin it is investing mistake.

I think we have been on this strategy of not using your emergency funds to accumulate bitcoin for a while, in added to what you have said using your emergency funds to accumulate bitcoin can lead to forced selling during the market  downturn and it can lead an investor to financial Vulnerability what I meant be this is that depleting emergency funds can leave individuals vulnerable to financial shocks. As an newbies or experts in the accumulation system we should all learn to have an wise allocation funda especially for bitcoin investment, while it advisable to maintain a separate emergency funds for needs.

We have three strategy in Bitcoin investment which are: DCA method, buy Dip and lump sum so using emergency funds to buy or accumulate Bitcoin is not a strategy rather it is a wrong investment approach or idea because you will definitely sell pre mature and again the reason we shouldn't use our emergency funds to invest is not because of market downturn but rather it is because of unforseen circumstances that is challenges that will come up during our period of investment and so if one uses the money he or she would have used to solve this problems to invest in Bitcoin then they will have no other choice than to sell there investment so market downturn is not actually the reason why we shouldn't invest with our emergency funds so don't get it twisted.

And as for market downturn people who suffers it are mostly traders who sometimes buy with huge amount of money hoping to sell when the market pump and whenever the market is going in the opposite direction they will sell off immediately and that is loss.

[SuperBitMan]

[edited out]

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a bad practice to keep something as volatile as bitcoin as your emergency fund or even part of your emergency fund, unless you have already reached overaccumulation status.

Volatility means that you could end up cashing out of bitcoin at a time that is not 100% of your own choosing, and if you have no other options, because you already exhausted any of your back up funds including your reserve funds and/or your emergency funds, then at that point you sell some or all of your bitcoin that is at a time that is not your own choosing.  Does not seem like a good way of managing your cashflows and back up funds, to me.

You are right, someone keeping Bitcoin as an emergency funds is making a very big mistake and not just emergency funds even reserve and float funds because just like you said Bitcoin is very volatile in nature.
If maybe you have $5k as your emergency funds and is kept in Bitcoin and you also have $2k each for your reserve and float funds and they are all keep in Bitcoin and Bitcoin being volatile in nature a dip happens where your $5k emergency funds is now reduced to $4k and your $2k each for reserve and float funds is now reduced to $1k and at this period you now have an emergency that requires $8k in other to sort it out and if not for the dip that happened your emergency reserve and float funds put together amounted to $9k which could have been used to settle the emergency and you will still be lift with $1k but because of Bitcoin volatility you are now lift with $6k from your emergency, reserve and float funds which is not up to the $8k required to sort out your emergency meaning you still need extra $2k to complete it and you may have no other option but to dip hands into your Bitcoin investment so in other to avoid this keep your emergency, reserve and float funds in bank as currency.

[WhoYouCantKill]

Of course we wanted to save as much as we can and hold for a long time.

Frequently, I suggest to first build your emergency fund up to three months at the same time that you are building up your bitcoin, and surely once the emergency funds reaches 3 months then it does not need to be more than that, even though you might have various kinds of reserve funds that you would prefer to tap into prior to needing to touch your emergency funds.  I personally think that it is better to have your finances in a way that you never have to touch your emergency funds, so if you end up tapping into your emergency funds, you should realize that you are in a pretty bad financial situation at that time to be having to tap into your emergency funds.

I don't think that it is a good idea to save in dollars as much as you can, even though there are prudent amounts to save, but I do believe in saving into biticoin as much as you can, at least until you get to a point of overaccumulation, and it is quite likely that you will not get to overaccumulation status if you are engaging in weak cashflow management practices.

That’s a solid advice on building one’s emergency fund and Bitcoin accumulation. I mean, imagine the peace of mind and the financial stability one would get by having at least 3 to 6 months worth of expenses as their emergency fund.
Nothing feels more reassuring than prioritizing a good cash flow management, this enables one to consistently invest in Bitcoin without compromising their financial security.

I completely agree with the approach of saving in Bitcoin, rather than fiat or traditional currencies as this highlights the potential for long term growth as well as financial independence.
But the thing is that, I wouldn’t really advice anyone who only intend to save for a short while to do so in Bitcoin, since bitcoin should at all time be considered for its long term potential and everyone saving or investing in Bitcoin should also maintain the same mindset, so if anyone is planning to save for a short term goal, then Bitcoin isn’t the best option for them.

[bitzizzix]

...

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a very bad practice to invest into bitcoin with your emergency income or fail to build one alongside your accumulation journey. It places your investment at risk of being tampered in the face of real emergencies. Emergency funds are built only to attend to real emergencies and no other purpose.

No matter how aggressive an investor want to be in accumulating bitcoin, he or she should never make the mistake of accumulating Bitcoin with his or her emergency fund, it will put his or her bitcoin investment in danger and he or she may end up selling off his or her  investment in lost when emergency arise and there is no emergency fund to handle that emergency, emergency fund is supposed to be for only emergencies and not for accumulating bitcoin it is investing mistake.

Therefore, everything must be planned very carefully, consistently, and steadily against the plan that has been prepared and take into account if sudden or emergency things happen. And most of them do not have or prepare all of that from the start which results in investment failure.

As the name implies, emergency funds and emergency funds will only be used when an emergency occurs and will not be used for anything even if it is very urgent for any reason including aggressive purchases and if it deviates from the plan, there is a risk of chaos or confusion that causes the sale of ownership due to coercion.

If you want an aggressive purchase, you should not use emergency funds and even though you have been doing it well so far, we will never know an emergency will come suddenly and this is what you have to think about, you don't need to be tempted by aggregate purchases because by running according to plan very consistently it will be wiser there and can run investments very well because in the end in the long term you will also have a lot of Bitcoin if you are consistent with your periodic purchases, and besides that your emergency funds will also increase and both are very profitable in the long term.

[maydna]

We have three strategy in Bitcoin investment which are: DCA method, buy Dip and lump sum so using emergency funds to buy or accumulate Bitcoin is not a strategy rather it is a wrong investment approach or idea because you will definitely sell pre mature and again the reason we shouldn't use our emergency funds to invest is not because of market downturn but rather it is because of unforseen circumstances that is challenges that will come up during our period of investment and so if one uses the money he or she would have used to solve this problems to invest in Bitcoin then they will have no other choice than to sell there investment so market downturn is not actually the reason why we shouldn't invest with our emergency funds so don't get it twisted.

And as for market downturn people who suffers it are mostly traders who sometimes buy with huge amount of money hoping to sell when the market pump and whenever the market is going in the opposite direction they will sell off immediately and that is loss.

Yeah, using emergency funds for investing in Bitcoin is not the right thing. He use that funds for an urgent need and if he use that funds to buy Bitcoin, he will sell his Bitcoin when he is in urgent situation. That means, his investment will not increase but decrease along with his needed. Besides that, if he sell his Bitcoin when the price is down, he will use more satoshi than the funds that he invested before. That is why his Bitcoin investment will decrease.

He need to have a separate fund for his emergency fund. That apply to all investor so he can learn discipline to allocate his earning or salary to the right place.

[GIF-JOBS]

We have three strategy in Bitcoin investment which are: DCA method, buy Dip and lump sum so using emergency funds to buy or accumulate Bitcoin is not a strategy rather it is a wrong investment approach or idea because you will definitely sell pre mature and again the reason we shouldn't use our emergency funds to invest is not because of market downturn but rather it is because of unforseen circumstances that is challenges that will come up during our period of investment and so if one uses the money he or she would have used to solve this problems to invest in Bitcoin then they will have no other choice than to sell there investment so market downturn is not actually the reason why we shouldn't invest with our emergency funds so don't get it twisted.

And as for market downturn people who suffers it are mostly traders who sometimes buy with huge amount of money hoping to sell when the market pump and whenever the market is going in the opposite direction they will sell off immediately and that is loss.

Yeah, using emergency funds for investing in Bitcoin is not the right thing. He use that funds for an urgent need and if he use that funds to buy Bitcoin, he will sell his Bitcoin when he is in urgent situation. That means, his investment will not increase but decrease along with his needed. Besides that, if he sell his Bitcoin when the price is down, he will use more satoshi than the funds that he invested before. That is why his Bitcoin investment will decrease.

He need to have a separate fund for his emergency fund. That apply to all investor so he can learn discipline to allocate his earning or salary to the right place.

Investing in Bitcoin with an emergency fund can cause more losses for the investor. Because if an investor invests in Bitcoin with an emergency fund, and after some time if he needs the money, what will he do? Then he will have to sell his Bitcoin holdings compulsorily, and if the price is low due to the volatility of Bitcoin at that time, he may also suffer losses. So these should never doing any time, danger can come at any time, when you need money. So the emergency fund should be used only for emergency situations. Using it for other purposes means destroying your protection charm.

[Figerland Shamrock]

Investing in Bitcoin with an emergency fund can cause more losses for the investor. Because if an investor invests in Bitcoin with an emergency fund, and after some time if he needs the money, what will he do? Then he will have to sell his Bitcoin holdings compulsorily, and if the price is low due to the volatility of Bitcoin at that time, he may also suffer losses. So these should never doing any time, danger can come at any time, when you need money. So the emergency fund should be used only for emergency situations. Using it for other purposes means destroying your protection charm.

This means that the person does not manage well if investing using emergency funds, because it is clear that there must be a risk if using emergency funds as you say the risk of loss and will sell bitcoin in an urgent situation due to emergency needs.

Investing should be enough with calm and calm mind.
1. Emergency funds are ready.
2. 1 month's needs have been met.
3. Leave a few percent to invest in bitcoin.

So that will not make a mistake in investing and we are calm even though only 20%, for example, for bitcoin but this is for the long term, meaning that the money that has been bought in bitcoin will not be disturbed again.

[Jaycoinz]

...

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a very bad practice to invest into bitcoin with your emergency income or fail to build one alongside your accumulation journey. It places your investment at risk of being tampered in the face of real emergencies. Emergency funds are built only to attend to real emergencies and no other purpose.

No matter how aggressive an investor want to be in accumulating bitcoin, he or she should never make the mistake of accumulating Bitcoin with his or her emergency fund, it will put his or her bitcoin investment in danger and he or she may end up selling off his or her  investment in lost when emergency arise and there is no emergency fund to handle that emergency, emergency fund is supposed to be for only emergencies and not for accumulating bitcoin it is investing mistake.

I believe there is a reason why it's called an emergency funds and not spending funds  and that's because there is always a need for emergency whether you like it or not it's something we as Hunan's can't run away from so the earlier you are prepared for the unknown the better for you because it's definitely gonna save you from touching your Bitcoin portfolio because trust me when the times comes for that emergency and there is funds saved up to tackle it you will definitely touch your Bitcoin which can lead to the whole journey jeopardize or even counter trade to balance up that Bitcoin and we all know how that gonna end up if you choose the gamble line.

[Jostern]

We have three strategy in Bitcoin investment which are: DCA method, buy Dip and lump sum so using emergency funds to buy or accumulate Bitcoin is not a strategy rather it is a wrong investment approach or idea because you will definitely sell pre mature and again the reason we shouldn't use our emergency funds to invest is not because of market downturn but rather it is because of unforseen circumstances that is challenges that will come up during our period of investment and so if one uses the money he or she would have used to solve this problems to invest in Bitcoin then they will have no other choice than to sell there investment so market downturn is not actually the reason why we shouldn't invest with our emergency funds so don't get it twisted.

And as for market downturn people who suffers it are mostly traders who sometimes buy with huge amount of money hoping to sell when the market pump and whenever the market is going in the opposite direction they will sell off immediately and that is loss.

Yeah, using emergency funds for investing in Bitcoin is not the right thing. He use that funds for an urgent need and if he use that funds to buy Bitcoin, he will sell his Bitcoin when he is in urgent situation. That means, his investment will not increase but decrease along with his needed. Besides that, if he sell his Bitcoin when the price is down, he will use more satoshi than the funds that he invested before. That is why his Bitcoin investment will decrease.

He need to have a separate fund for his emergency fund. That apply to all investor so he can learn discipline to allocate his earning or salary to the right place.

Investing in Bitcoin with Emergency Fund is a very bad idea of investing in Bitcoin. That is why it is good to have a good strategy of having. Reserved fund and floating fund which will help us to accumulate our bitcoin. Using Emergency funds to pay bitcoin assets will definitely make us to touch our Bitcoin when we have emergency needs, Emergency funds should be for emergency needs and not for investing in Bitcoin. If we adopt the strategy that we are going to reinvent after selling bitcoin because of our emergency needs using this strategy we are going to suffer looses with that strategy.  

[JayJuanGee]

Of course we wanted to save as much as we can and hold for a long time.

Frequently, I suggest to first build your emergency fund up to three months at the same time that you are building up your bitcoin, and surely once the emergency funds reaches 3 months then it does not need to be more than that, even though you might have various kinds of reserve funds that you would prefer to tap into prior to needing to touch your emergency funds.  I personally think that it is better to have your finances in a way that you never have to touch your emergency funds, so if you end up tapping into your emergency funds, you should realize that you are in a pretty bad financial situation at that time to be having to tap into your emergency funds.

I don't think that it is a good idea to save in dollars as much as you can, even though there are prudent amounts to save, but I do believe in saving into biticoin as much as you can, at least until you get to a point of overaccumulation, and it is quite likely that you will not get to overaccumulation status if you are engaging in weak cashflow management practices.

That’s a solid advice on building one’s emergency fund and Bitcoin accumulation. I mean, imagine the peace of mind and the financial stability one would get by having at least 3 to 6 months worth of expenses as their emergency fund.
Nothing feels more reassuring than prioritizing a good cash flow management, this enables one to consistently invest in Bitcoin without compromising their financial security.

I completely agree with the approach of saving in Bitcoin, rather than fiat or traditional currencies as this highlights the potential for long term growth as well as financial independence.
But the thing is that, I wouldn’t really advice anyone who only intend to save for a short while to do so in Bitcoin, since bitcoin should at all time be considered for its long term potential and everyone saving or investing in Bitcoin should also maintain the same mindset, so if anyone is planning to save for a short term goal, then Bitcoin isn’t the best option for them.

Saving a short term in bitcoin is also known as trading.  I don't recommend trading bitcoin, yet surely some folks are not able to resist temptations to trade/gamble, so I would suggest putting less than 10% of the value of their bitcoin into attempts to trade bitcoin... otherwise investment timelines should be 4-10 years or more, and any investment timeline of only 4-10 years would be short term investing (from my perspective) and the most justifiable reasons to have something like ONLY a 4-10 year investment time horizon would be due to age and/or health considerations.

Regarding your mentioning 3-6 months for your emergency funds, I doubt that emergency funds need to be as high as 6 months, unless a person has erratic discretionary income expectations.. so usually 3 months would be sufficient for the emergency fund, and sure you could have an extra three months or more that would be various kinds of reserve funds.. so in practice you might well frequently have 3-6 months in combination of emergency funds and reserve funds.

[Joy- maker]

Of course we wanted to save as much as we can and hold for a long time.

Frequently, I suggest to first build your emergency fund up to three months at the same time that you are building up your bitcoin, and surely once the emergency funds reaches 3 months then it does not need to be more than that, even though you might have various kinds of reserve funds that you would prefer to tap into prior to needing to touch your emergency funds.  I personally think that it is better to have your finances in a way that you never have to touch your emergency funds, so if you end up tapping into your emergency funds, you should realize that you are in a pretty bad financial situation at that time to be having to tap into your emergency funds.

I don't think that it is a good idea to save in dollars as much as you can, even though there are prudent amounts to save, but I do believe in saving into biticoin as much as you can, at least until you get to a point of overaccumulation, and it is quite likely that you will not get to overaccumulation status if you are engaging in weak cashflow management practices.

That’s a solid advice on building one’s emergency fund and Bitcoin accumulation. I mean, imagine the peace of mind and the financial stability one would get by having at least 3 to 6 months worth of expenses as their emergency fund.
Nothing feels more reassuring than prioritizing a good cash flow management, this enables one to consistently invest in Bitcoin without compromising their financial security.

I completely agree with the approach of saving in Bitcoin, rather than fiat or traditional currencies as this highlights the potential for long term growth as well as financial independence.
But the thing is that, I wouldn’t really advice anyone who only intend to save for a short while to do so in Bitcoin, since bitcoin should at all time be considered for its long term potential and everyone saving or investing in Bitcoin should also maintain the same mindset, so if anyone is planning to save for a short term goal, then Bitcoin isn’t the best option for them.

Saving a short term in bitcoin is also known as trading.  I don't recommend trading bitcoin, yet surely some folks are not able to resist temptations to trade/gamble, so I would suggest putting less than 10% of the value of their bitcoin into attempts to trade bitcoin... otherwise investment timelines should be 4-10 years or more, and any investment timeline of only 4-10 years would be short term investing (from my perspective) and the most justifiable reasons to have something like ONLY a 4-10 year investment time horizon would be due to age and/or health considerations.

you have spoken well JJG and all you said is the right thing  to do, since so folks can't resist trading and gambling is better they trading or gamble with only 10% of their bitcoin value and they should stick to that percentage without being tempted to go above 10%, because trading and gambling can be tempting some times which can lead to emotional control to go above 10% and investing timeline should always remain 4 to 10 years or more for anything less than 4 to 10 years is trading or gamble, and it may land them in less profits, that's if they still have bitcoin's in there custody.

[Sonia_123]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

Well, that just shows that the market is unpredictable.

You can't time the market because it's very unpredictable. You might see it's price going up for a few hours then suddenly, it will go down. Just look at Bitcoin's price a few days ago when the Coinbase anomaly happened. It went down from I think around $68,000 to nearly $59,000 in just a span of a few minutes.

What's my take on what's happening right now? We're in a time where we need to wait for the market to correct before entering. We have been seeing the market going up for days already, and I don't see any reason for me to enter the market when the market is on the green. I mean we want to buy coins at a lower price, so it's better to just wait until the market corrects then that's the time for us to buy.

Waiting to buy Bitcoin at the right time is not a good idea, when do you know is the right time, saying we need to wait, it might be dangerous because you don't know when the price will come down, what if it goes up again and ondo we still keep waiting.

A long-term investor can't be waiting, he sees everytime as an opportunity to buy and hold since it will take him a long time to reach his target, and so he believes at any amount he buys he his going to make profit not loss.

[LGD2Business]

Waiting to buy Bitcoin at the right time is not a good idea, when do you know is the right time, saying we need to wait, it might be dangerous because you don't know when the price will come down, what if it goes up again and ondo we still keep waiting.

A long-term investor can't be waiting, he sees everytime as an opportunity to buy and hold since it will take him a long time to reach his target, and so he believes at any amount he buys he his going to make profit not loss.

There are actually exceptions to this. For example, it makes no sense to buy when the price starts to rise very quickly. In sudden rises, you can buy at the top and then see it retreat. Not getting caught up in FOMO is something that long term investors should also do. You create a strategy and you stick to it. That way you won't be affected by sudden price movements.
Long-term investors also aim to increase their coin holdings. If this gives them the opportunity to buy at a low price, they want to take it. Long-term investors usually don't get FOMO. They know that Bitcoin will rise and they strategize accordingly.

[ultrloa]

Waiting to buy Bitcoin at the right time is not a good idea, when do you know is the right time, saying we need to wait, it might be dangerous because you don't know when the price will come down, what if it goes up again and ondo we still keep waiting.

A long-term investor can't be waiting, he sees everytime as an opportunity to buy and hold since it will take him a long time to reach his target, and so he believes at any amount he buys he his going to make profit not loss.

There are actually exceptions to this. For example, it makes no sense to buy when the price starts to rise very quickly. In sudden rises, you can buy at the top and then see it retreat. Not getting caught up in FOMO is something that long term investors should also do. You create a strategy and you stick to it. That way you won't be affected by sudden price movements.
Long-term investors also aim to increase their coin holdings. If this gives them the opportunity to buy at a low price, they want to take it. Long-term investors usually don't get FOMO. They know that Bitcoin will rise and they strategize accordingly.

Its really no sense to buy if the price starts to rise if you are in trading since actually that is bad action to made since its like you are buying at FOMO and might lose your money if sudden correction came.

But we are not actually talking about trading here and our aim is for long term so buying at what price either it start to rise or not should not be a problem. Since we are not targeting small gains but rather our main goal is to get volume as we can especially that we aim to accumulate lots of Bitcoins until we hit our target years for our investment.

Also good if we can buy Bitcoin at the lowest point but there's no sense of waiting for that situation since its like we are wasting to much opportunity to accumulate more volume especially that we don't know on when that price dip happens.

[LGD2Business]

Its really no sense to buy if the price starts to rise if you are in trading since actually that is bad action to made since its like you are buying at FOMO and might lose your money if sudden correction came.

But we are not actually talking about trading here and our aim is for long term so buying at what price either it start to rise or not should not be a problem. Since we are not targeting small gains but rather our main goal is to get volume as we can especially that we aim to accumulate lots of Bitcoins until we hit our target years for our investment.

Also good if we can buy Bitcoin at the lowest point but there's no sense of waiting for that situation since its like we are wasting to much opportunity to accumulate more volume especially that we don't know on when that price dip happens.

You don't fully understand the situation. Let's say we do DCA by buying Bitcoin every week on Sunday at 18:00. On Sunday morning, a pump started and prices increased by 10%. If you get FOMO and buy the coin in the morning at the 10% increased price, you will break your strategy. At 18:00 in the evening, the 10% rise could give back 5%, because it was a sudden price change.
Now who benefits more in this scenario, the one who sticks to his plan or the one who got FOMO? This has nothing to do with trading. Everyone wants to increase the amount of coins. Those who stick to their plan will be more successful.

[JayJuanGee]

Its really no sense to buy if the price starts to rise if you are in trading since actually that is bad action to made since its like you are buying at FOMO and might lose your money if sudden correction came.

But we are not actually talking about trading here and our aim is for long term so buying at what price either it start to rise or not should not be a problem. Since we are not targeting small gains but rather our main goal is to get volume as we can especially that we aim to accumulate lots of Bitcoins until we hit our target years for our investment.

Also good if we can buy Bitcoin at the lowest point but there's no sense of waiting for that situation since its like we are wasting to much opportunity to accumulate more volume especially that we don't know on when that price dip happens.

You don't fully understand the situation. Let's say we do DCA by buying Bitcoin every week on Sunday at 18:00. On Sunday morning, a pump started and prices increased by 10%. If you get FOMO and buy the coin in the morning at the 10% increased price, you will break your strategy. At 18:00 in the evening, the 10% rise could give back 5%, because it was a sudden price change.
Now who benefits more in this scenario, the one who sticks to his plan or the one who got FOMO? This has nothing to do with trading. Everyone wants to increase the amount of coins. Those who stick to their plan will be more successful.

Each person is in charge of their own plan, and so if any person strictly wants to stick with buying bitcoin at the same exact time every week, then that is their choice.  If they build flexibility into their plan that is their choice also.

I would hardly characterize someone who might choose to adjust their buy time every week in order to attempt to capture the maximum dip to be engaging in FOMO buying.

FOMO buying tends to occur when folks employ waiting strategies, such as trying to buy the dip and perhaps overly holding back their BTC buys and not doing BTC buys on a weekly basis.. and so they may end up having a lot of cash building up and the BTC price not sufficiently dipping and perhaps when the BTC price goes shooting up, such person ends up getting nervous about the BTC price rise and ends up buying based on emotion rather than employing a strategy that is not causing situations in which he might end up becoming emotional about his investment.

My first year in bitcoin (mostly in 2014), I pretty much had a weekly BTC buying budget and I also had some other extra BTC buys that were attempts to buy dips, yet even with my weekly buys I employed them manually and so I was attempting to buy dips, and so you can imagine that after doing that for a whole year or more, there were quite a few times where it was uncertain if the BTC price was going to dip or not, yet part of my plan was to make sure that I employed my whole weekly allowance before a certain time of the week, and so I did not carry over earlier week allowances into the next week, since each week would have a new allowance.

I can recall that I was not even 100% strict with my execution of my plan, even though I mostly tried to conform to the parameters of my weekly buying plan and to make sure that I spent the whole amount for each of the weeks prior to the deadline.

I have come to believe that when we are buying bitcoin over a relatively long period of time, it is going to tend to not make a BIG difference even if we are attempting to hold back to buy dips, over time the amount of bitcoin accumulated is not going to be very different either way, and so likely it mostly remained important to be striving to just buy every week, and to make sure to keep building the bitcoin holdings (the stack size), since if our bitcoin investment time line was 4-10 years or longer, a lot of times we are not going to end up really seeing great benefits until several years down the road and after we had already spent a decent amount of time accumulating bitcoin and our cost per BTC likely ending up being lower than the bitcoin price at later points down the road - while at the same time, realizing that none of bitcoin's price performance is guaranteed to be profitable, even though bitcoin's investment thesis continues to get stronger and stronger and stronger with the passage of time.

So it is smart to continue to buy over long periods of time, whether our average cost might end up being higher or lower depending on how many mistakes that we might make.

One point of comparison is to just compare our own situation to someone who had been strictly investing for similar times as us.  Even with your forum registration date, if we anticipated that you could have had been able to invest $100 per week since your forum registration date for the past 10-ish years (congratulations), then by now, you would have had invested $52.3k into bitcoin and you would have had accumulated close to 29.5 BTC.

Surely there are various ways that you could have had screwed up over the past 10 years, but if you had been mostly accumulating bitcoin for every week over 10 years, it becomes difficult to consider that any particular week is going to be devastating to your ability to have had been able to accumulate bitcoin whether you were trying to buy on the dip for each week or you were just buying each week on a specific date.

Of course, if you were trading or if you were holding back buying for extended periods of time, it becomes difficult to see if your performance could have had been better than someone who had just been regularly buying BTC, whether or not there might have been a little bit of variance in some of the weekly buys.