Buy Buy Buy or Sell Sell Sell?

[Sim_card]

Before deciding to invest, we must first stabilize our finances, saving some for emergencies, but after that, we must strive to ensure our investments remain undisturbed.
Many things happen beyond our control, so we must work harder to earn more money each month to cover them all. I'm confident that if we're consistent with our high aspirations, we can do it.

You don't need a stable income before you can tell your bitcoin investment provided that you have an income that gives you a discretionary income. You can start investing with your discretionary income whenever it's available and work on how you can stable and improve your income so that you will have the space of more flexibility in your bitcoin accumulation journey overtime.

You mustn't save money for emergency if you don't have it in place already before you thought of investing in bitcoin. You can start your bitcoin investment with your discretionary income without an emergency funds. When you have started you bitcoin investment, you can start building your emergency funds of at least three months of your income simulteuously with your bitcoin investment so that they can grow in the same pace. Sharing your discretionary income into two parts, use one for your regular weekly DCA purchase and the other part for building your emergency funds and reserve funds.

All what you said above is a way to delay time as a no coiner instead of focusing on getting started immediately and be a low coiner. Waiting is never s strategy but a barrier to good size of bitcoin stash in future.

If 80-90% of his income is invested, he will have to drown in debt next month

You are to invest with your discretionary income and not your income.

[Derekfunds]

Before deciding to invest, we must first stabilize our finances, saving some for emergencies, but after that, we must strive to ensure our investments remain undisturbed.
Many things happen beyond our control, so we must work harder to earn more money each month to cover them all. I'm confident that if we're consistent with our high aspirations, we can do it.

You don't need a stable income before you can tell your bitcoin investment provided that you have an income that gives you a discretionary income. You can start investing with your discretionary income whenever it's available and work on how you can stable and improve your income so that you will have the space of more flexibility in your bitcoin accumulation journey overtime.

You mustn't save money for emergency if you don't have it in place already before you thought of investing in bitcoin. You can start your bitcoin investment with your discretionary income without an emergency funds. When you have started you bitcoin investment, you can start building your emergency funds of at least three months of your income simulteuously with your bitcoin investment so that they can grow in the same pace. Sharing your discretionary income into two parts, use one for your regular weekly DCA purchase and the other part for building your emergency funds and reserve funds.

All what you said above is a way to delay time as a no coiner insteady of focusing on getting started immediately and be a low coiner. Waiting is never s strategy but a barrier to good size of bitcoin stash in future.

It is very clear that one doesn't need to have a stable source of income before they can invest in Bitcoin which is very correct because there are times that the kind of source of income we need, we can not get it for some period of time and so instead of waiting for that time it will be advisable to start with the one we have because it is better than not investing at all ( waiting for a stable source of income).

How do you mean sharing our discretionary into 2 parts and then use one for your regular DCA method and the other for building emergency and reserve funds. I don't think our emergency and reserve funds should come from our discretionary rather our discretionary is always used for Investing regular using the DCA depending on the method an investor chooses and then for front loading or for aggressive purchase when there is Dip.

[SilverCryptoBullet]

It is very clear that one doesn't need to have a stable source of income before they can invest in Bitcoin which is very correct because there are times that the kind of source of income we need, we can not get it for some period of time and so instead of waiting for that time it will be advisable to start with the one we have because it is better than not investing at all ( waiting for a stable source of income).

You must have good finance so that you can use part of it for investment and surely have other parts for spendings and emergency fund. If you have good finance but use all of it for investment, it's risky and you will need to cash out your investment just for either spendings or emergency.

So having stable income or not, it's not most important thing for investors and their investment practice. Make sure they have good management on finance and separate their income - that does not need to be stable income - to spending fund, emergency fund and investment capital. If any investor can do it, even lack of stable source of income, he can start and maintain investment very good.

[Lida93]

Being overly aggressive only means one thing which is; you will have to likely invest more than you can afford to loss. So it's very much important that we identify the level in which our investment is within a level that we can take whatever happens thereafter. This implies that we should invest solely from our discretionary income or moreover if you want to be aggressive you can then use up to 90% of your discretionary income that we can call aggressive investments but if you do an aggressive investment outside your discretionary income it will likely end up that you will have to struggle psychologically or financial probably leading to tempering with your investment.

Buying aggressively all the time is not a good idea. Because if a person buys aggressively every time, if he needs some amount of money, then maybe that person can get very broke. For example, if a person invests with 80% or 90% of his discretionary income all the time, then when there is a small financial crisis, he will have to depend on his emergency fund or take a loan from someone. But yes, how much % to invest is completely their personal choice. But I think it is right to invest 35% to 45% of your discretionary income. Because it will not be too aggressive and not too low.

You can continue to buy continuously by adopting the DCA method and if you see a decline in the market, you can buy aggressively if you want.

Buying aggressively to build a bitcoin portfolio is a great idea though but you first have to put your financial income sources in order and what I mean by this is that you must strive to have a multiple sources of income that are reliable and considerate to be able to have to strong financial flow that could help you buy aggressively even while using the DCA approach. With multiple income sources you can dedicate a single source for your bitcoin portfolio accumulation, while direct other sources towards everyday demands and emergency needs. Imho, you can't successfully maintain aggressive buying with a single income source because you can't always pend other real life demands.

[JayJuanGee]

If an investor is strictly investing in bitcoin with his discretionary income, he is free to invest in bitcoin with all his discretionary income if he chooses to do that, and he will not have any problem in solving his living expenses because discretionary income is meant to be used and paid for non-important items like vacation. Any financial crisis that happens after you have paid for your monthly expenses should be treated as an emergency because you don't plan for it, and you can freely depend on your emergency fund to solve the financial crisis and keep investing in bitcoin consistently.

Anyone is free to do whatever they want with their cash but let's be honest, you can't be buying aggressively all the time it's not possible cause at some points you'll apportion your discretionary funds into other areas and slow down for a while, which makes lots of sense. I know it's the sacrifice investors who recently started are giving to build a better portfolio but then you can't sacrifice forever since you'll still need to go on vacations, entertain yourself and so forth one can only be aggressive for a few period of time, slow down then continue again after a while but saying that you can be aggressive althrough the year, for someone who recently started investing, I wonder the magic you want to perform, remember you're a human and having fun is part of our nature too.

I quite disagree that it's not a problem if you use all your discretionary funds to be accumulating Bitcoin because life happens and problems can unexpectedly arise. Ofcourse it's your money and you have a right to spend it anyhow you like but using all your discretionary funds to buy Bitcoin is not a good financial plan.

Inorder not to make financial mistakes from your total income you should first remove your basic or unavoidable expenses then the rest goes into your discretionary funds. You need to have a special budget for your discretionary fund, remove some money for emergency, Bitcoin accumulation, miscellaneous for your planned vacation, family treat or buying that gadget. The percentage that you decide to allocate should depend on their priority to you. The point is that your life shouldn't revolve around basic expenses and Bitcoin alone, although you can choose to allocate more percentage of your income into them, it's your money and your choice.

You are correct that even if bitcoin is a very high prioritiy, and even the highest of priorities, there are likely going to be some other expenses that could come up from time to time, and emergency funds are for the expenses needed to live, and surely there can be reserve funds that are available too, in order to help to protect any guy who might choose to put 100% or close to 100% of any new discretionary funds as they come in... and so if he ends up making mistakes he can tap into his reserve funds... Surely, many of us suggest that we should not be tapping into our actual emergency funds absent an actual emergency, so we should not want to create situations for ourselves in which we have created our own emergency by our sloppy cashflow management and/or our having had used up all of our discretionary funds on bitcoin.. since we know that when we put funds into bitcoin they should be locked up for 4-10 years or longer.

We need to be  careful in terms of telling folks about their priorities in their employment of their discretionary funds, except surely we likely can recognize short-term dangers that relate to mistakes and not accounting for all expenses that could come up and even longer term dangers of guys putting themselves into psychologically vulnerable positions if they overly deprive themselves in other areas.. so there can be problems in not having some of the other activities and/or fulfillments or even deveolping of social relations might require some financial investment from time to time otherwise people might not be willing to socially bond if they perceive you as overly self-centered.. which can also cost you in ways that were not anticipated.

Don't get me wrong.  I am more than acknowledging that guys might purposefully choose to focus on bitcoin and put a lot of time, energy and monetary value into it, but if they screw up and go overboard on what they do, they might not realize.. so sometimes it is better to error on the side of having a bit of a financial cushion.. so they don't have to sell any of their bitcoin at a time that is not of their own choosing.

[edited out]

Living in a country where live is generally tough for an average citizen, I can understand how tough it is to invest in bitcoin and crypto generally.

I doubt that it is possible to reasonably invest in crypto or shitcoins... That seems more like trading when guys get involved with shitcoins rather than investing, even if they might think that they are investing..

The standard of living has changed significantly for the average citizen making life more unaffordable and finances more difficult to keep. Being able to apportion funds into discretionary funds, emergency, family treats, vacation, buying gadgets or even spare money for miscellaneous is usually almost impossible. The best most of us can do is to sacrifice 60% to bitcoin investment (which is roughly $50) monthly, then the remaining 40% will be for upkeep for the rest of the month (which is around $30). Now imagine living with 30 dollars in a whole month for upkeep, where just buying fuel is averagely 90 cents per litres, fuel alone is more than enough to take the remaining funds for upkeep. This is when you're even earning above the minimum wage which is less than 55 dollars monthly. Now you begin to ask, how many people do really earn above the minimum wage in an unstable economic environment like this?

I will grant you that there are likely certain places where it is quite difficult to figure out ways to increase our income, since it seems likely that it is better to be able to increase income rather than decreasing expenses, since there might not be as many ways to decrease expenses if guys are already living frugally and various aspects of the cost of living continue to go up.

Surely younger people have more potential options to change careers or to shoot for various ways to get training and to potentially advance in higher paying work as the get older, but yes, sometimes folks are already at an age where it might be difficult to change their income levels based on their work, so it surely can be challenging when guys are not able to increase their income as rapidly as their income is begin debased.. and, yes, you are correct that investing ONLY comes from discretionary income, and if your discretionary income is decreasing then you might not be able to invest in bitcoin.. even though bitcoin is one of the ways that guys can be helped to get saved from the ongoing and likely continuing debasement that is going on with all fiats.. .. and surely guys who barely are able to put any money into bitcoin might not be able to directly advantage from bitcoin being available.. but only available as an investment to people with discretionary income... Any guys who are using non-discretionary income to buy bitcoin are gambling (or trading) rather than investing.

This is usually the challenge most of us living developing African and Asian countries in the world are facing. It is not our fault that the economy of the country is hurting, forming among the reasons why many of us choose to diversify and invest in bitcoin which although can be volatile, but has more value than our local currencies. This is again the reason why the DCA approach is always the best advice you can preach to us, as much as yoy Want to benefit the majority of the population. DCAing is more realistic to an average person here than the lump sum investments because for many of us, we may never have the opportunity to venture into lump sum investments in our journey to grow our portfolio unless if you’re fortunate enough to be around the elites, driving the economy.

Sure, I agree with you that DCA is likely the best of choices for poor people who are with relatively low discretionary income, yet I will also proclaim that it is good for everyone to know about their three BTC accumulation methods that also include lump sum and buying on dips, and in regards, to lump sum, we can never be sure that we might sometimes get some extra cash that might not have had been expected.

If a guy is ONLY investing around $10 per week into bitcoin, and then all of a sudden he comes across an extra $500, that would be equal to about a year of his DCA amount, so surely he is going to feel that he has options when he comes across that quantity of extra money all of a sudden and he is able to invest it into bitcoin and/or perhaps the other option would be to shore up his emergency funds and/or his reserve funds.

I think there is no need to wait for investing in Bitcoin. Because I myself bought Bitcoin when it was 25,000 and sold it at 40, thinking that this might be the highest price. If I lower it a little, I will buy it again. I kept waiting, but even after lowering it a little, the price kept increasing. I thought and waited a little longer, and after thinking, it reached 100, then I decided that there was no point in thinking anymore, I will buy Bitcoin with a part of my salary every month, so I started buying. Now I realize that I was wrong to wait. I think Bitcoin is an asset that may go beyond our reach in the future. So now is the right time to invest.

Congratulations, you've profited from your BTC investment, buying at $25,000 and selling at $40,000. Unfortunately, you didn't make a larger profit. If you had sold now, you might have made more money, but it would certainly be better to sell in 5 or 10 years forward. However, what has happened is certainly a valuable experience for you, and if you've thought about it and realized that holding BTC for the long term is necessary, you're probably in good shape now and are starting to consider buying BTC using part of your salary and saving it for the long term.

However, you must maintain an emergency fund because life in this world is full of temptations and obstacles. If you have an emergency fund, you will certainly succeed with your BTC investment. Experience is a valuable teacher, and buying BTC is certainly the right choice right now, as long as you buy with ready is in the right way

You have likely help to highlight why guys might want to consider a sustainable strategy, since there should not necessarily be a desire to sell all of our bitcoin 4-10 years or longer down the road merely because we consider it to be in high profits.  

Surely we will have options when our bitcoin has more profits, yet guys likely will end up selling too much too soon if they are not mostly holding onto it.

Let's say that a guy in his mid 30s with an income of around $50k per year income got into bitcoin around 12 years ago, and, so maybe it took him around 7 years to establish his position.  So between mid 2013 and mid 2020, he ended up investing around $36.6k and he accumulated 62 BTC.  Maybe he was confused about the valuation of his BTC or if he could stop accumulating bitcoin and perhaps diversify into other assets, but he tentatively started to think that 62 BTC is enough.. and also he might also start to think that he had put enough into bitcoin.    So, in mid-2020 it was not really clear what to do, but so then after he let the bitcoin sit another few years it may have had started to become clear that he has enough bitcoin or more than enough bitcoin and he might start to engage in sustainable withdraw - price-based and/or time-based.  

He actually thought that it was going to take him more than 10 years to get to a real comfortable status with his BTC and/or other investments given his income and his chosen investment level of $100 per week, so he is feeling way ahead of where he thought that he would have had been.

Even in 2022, when bitcoin was going through trying times, he may have had realized that he could have had started withdrawing from his bitcoin at that time, and it could have had been sustainable to support him on his $50k annual income or even at higher levels, such as up to $140k per year... so perhaps even in 2022 when bitcoin was going though doldrums, maybe we was considering whether he should buy more, yet even if he choose not to accumulate more BTC, he came to conclude that he had enough or more than enough bitcoin.

[cxtreenal]

Being overly aggressive only means one thing which is; you will have to likely invest more than you can afford to loss. So it's very much important that we identify the level in which our investment is within a level that we can take whatever happens thereafter. This implies that we should invest solely from our discretionary income or moreover if you want to be aggressive you can then use up to 90% of your discretionary income that we can call aggressive investments but if you do an aggressive investment outside your discretionary income it will likely end up that you will have to struggle psychologically or financial probably leading to tempering with your investment.

Buying aggressively all the time is not a good idea. Because if a person buys aggressively every time, if he needs some amount of money, then maybe that person can get very broke. For example, if a person invests with 80% or 90% of his discretionary income all the time, then when there is a small financial crisis, he will have to depend on his emergency fund or take a loan from someone. But yes, how much % to invest is completely their personal choice. But I think it is right to invest 35% to 45% of your discretionary income. Because it will not be too aggressive and not too low.

You can continue to buy continuously by adopting the DCA method and if you see a decline in the market, you can buy aggressively if you want.

Buying aggressively to build a bitcoin portfolio is a great idea though but you first have to put your financial income sources in order and what I mean by this is that you must strive to have a multiple sources of income that are reliable and considerate to be able to have to strong financial flow that could help you buy aggressively even while using the DCA approach. With multiple income sources you can dedicate a single source for your bitcoin portfolio accumulation, while direct other sources towards everyday demands and emergency needs. Imho, you can't successfully maintain aggressive buying with a single income source because you can't always pend other real life demands.

It is true that aggressive buying is a great idea for investment but for some new investors who cannot afford to buy. I think they should focus on deposit Bitcoin according to their means. I mean, new investors whose capital is relatively less than that of older investors should accumulation Bitcoin from their discretionary income according to their income. If new investors start deposit Bitcoin from the initial stage using the DCA method, then it should not be that difficult for them to keep the savings process going in the long term because they plan to save according to their weekly or monthly income. Some investors may not have multiple sources of income, so they will have to continue to invest in Bitcoin in small amounts from a single source of income. In fact, for long-term investment, investors of any income small or large can successfully complete the cycles if they have discretionary income and it is very necessary to have a floating fund or emergency fund to manage the investment.  I think a consistent long-term savings process would be a more effective way to grow your Bitcoin holdings than aggressive investment.

[Spaceman1000$]

Being overly aggressive only means one thing which is; you will have to likely invest more than you can afford to loss. So it's very much important that we identify the level in which our investment is within a level that we can take whatever happens thereafter. This implies that we should invest solely from our discretionary income or moreover if you want to be aggressive you can then use up to 90% of your discretionary income that we can call aggressive investments but if you do an aggressive investment outside your discretionary income it will likely end up that you will have to struggle psychologically or financial probably leading to tempering with your investment.

Buying aggressively all the time is not a good idea. Because if a person buys aggressively every time, if he needs some amount of money, then maybe that person can get very broke. For example, if a person invests with 80% or 90% of his discretionary income all the time, then when there is a small financial crisis, he will have to depend on his emergency fund or take a loan from someone. But yes, how much % to invest is completely their personal choice. But I think it is right to invest 35% to 45% of your discretionary income. Because it will not be too aggressive and not too low.

You can continue to buy continuously by adopting the DCA method and if you see a decline in the market, you can buy aggressively if you want.

Buying aggressively to build a bitcoin portfolio is a great idea though but you first have to put your financial income sources in order and what I mean by this is that you must strive to have a multiple sources of income that are reliable and considerate to be able to have to strong financial flow that could help you buy aggressively even while using the DCA approach. With multiple income sources you can dedicate a single source for your bitcoin portfolio accumulation, while direct other sources towards everyday demands and emergency needs. Imho, you can't successfully maintain aggressive buying with a single income source because you can't always pend other real life demands.

I agree with you, multiple streams of income gives you a More financial leverage as you buy aggressively, multiple streams balances the quest to invest more, because you don't have to be dilly-dallying with DCA strategy because you will be investing from a comfort zone. Multiple streams gives more flesh to both your discretionary income and your emergency funds, this is not to say that people will single source of income cannot do all of these but multiple stream places you at a more advantageous position.

[Gost ms]

I agree with you, multiple streams of income gives you a More financial leverage as you buy aggressively, multiple streams balances the quest to invest more, because you don't have to be dilly-dallying with DCA strategy because you will be investing from a comfort zone. Multiple streams gives more flesh to both your discretionary income and your emergency funds, this is not to say that people will single source of income cannot do all of these but multiple stream places you at a more advantageous position.

Yes you are right but if you find a second source of income and work to invest it is very good. But you have to take care that you do not harm yourself while doing this work. For example, many times our health gets very bad while doing a lot of work. And later we become very sick, work by considering all these aspects. Remember one thing, the richer you are, the more you spend. So if you can do extra work then continue working if you cannot then change your decision. Because you want to do this to invest extra but if you get into a big physical problem then your investment may be at risk.

[Lembo69]

When we are referring to an amount of money that a person "can afford to lose," there is a psychological component.

Of course, a person could invest up to 100% of their discretionary income into bitcoin, yet if they make mistakes and they have no money left, then they might accidentally use money that they need for their expenses, so there can be dangers in using 100% of your discretionary income for investing in bitcoin.

 If you can tolerate all that negative BTC price pressure, then sure maybe you have invested no more than you can afford to lose, but you are going to end up being financially and psychologically challenged if the BTC price moves against you... so you actually need to find some balance in which you are both financially and psychologically comfortable, which is also part of the reason that many people are not going to invest 100% of their discretionary income, and maybe they will find some way to be aggressive without over doing it, but maybe invest around 50% or 60% of their discretionary income into bitcoin.. so then they have the remainder of their discretionary income as a kinds of cushion.

one thing that proper planning and budgeting does for you is that it allows you take notice of not just what you want as your left over after you have carried out your expenses, it helps you also take notice of what you are spending your money on and how much is going into any of those things under consideration.

take for instance the data subscription we do every month, if you do not do proper budgeting but rather does daily or weekly plans, you might end up spending way more than necessary which will go on to affect other aspect of your finance and in the process eat into your emergency funds if you are trying to use it to cover for your subscription bills when the need arise.

once i have allocated my 30% for my investment, i just try to use the remaining 70% in a manner that regardless of what happens, i must adapt to what's left as though that is the only thing that i am earning. just that mentality that this is the only thing you are earning will force you to make all your plans to suit what you have left so needs does not easily eat into whatever you have both as your allocation for your expenses or your budget for your investment and emergency funds.

Even if your income is high in investment, it is better not to focus too much on expenses. You are investing 30% of your income. If you spend the remaining 70% on unique things, then where is your emergency fund? Emergency fund or backup fund is as important as the eyeballs of a blind person. If you spend 70% of your income without an emergency fund, what is the guarantee that you will not have to sell your investment later due to any danger? Focus on investing as much as you can. And make an emergency fund and invest. Proper planning and budgeting will help you increase your income and also increase your interest in your investment. Never be irregular during investment because after a certain period of time, all your dreams will be fulfilled through the investment you make. Along with investment, try to increase your income and refrain from spending excessively. Because excessive spending reduces patience and reduces the interest in investing. Because investment gives profit after a long time, which becomes difficult for people who spend excessively.

[Umulala-alala]

Before deciding to invest, we must first stabilize our finances, saving some for emergencies, but after that, we must strive to ensure our investments remain undisturbed.
Many things happen beyond our control, so we must work harder to earn more money each month to cover them all. I'm confident that if we're consistent with our high aspirations, we can do it.

Its not a thing of must to have a stable income before you can get started and start buying bitcoin what is required to get started is your Discretionary income if you have your Discretionary income you can start and strengthen your income as you are also buying without waiting more to get stabilize before you can get started as you could be wasting more buying opportunity, and also you can step up your emergency fund after you have get started with your bitcoin investment it's not a thing of must also for you to first set up your emergency fund before getting started it doesn't work that way though most persons thought that one must be financially stable before buying bitcoin but this is wrong.

[POPOLUV]

Being overly aggressive only means one thing which is; you will have to likely invest more than you can afford to loss. So it's very much important that we identify the level in which our investment is within a level that we can take whatever happens thereafter. This implies that we should invest solely from our discretionary income or moreover if you want to be aggressive you can then use up to 90% of your discretionary income that we can call aggressive investments but if you do an aggressive investment outside your discretionary income it will likely end up that you will have to struggle psychologically or financial probably leading to tempering with your investment.

Buying aggressively all the time is not a good idea. Because if a person buys aggressively every time, if he needs some amount of money, then maybe that person can get very broke. For example, if a person invests with 80% or 90% of his discretionary income all the time, then when there is a small financial crisis, he will have to depend on his emergency fund or take a loan from someone. But yes, how much % to invest is completely their personal choice. But I think it is right to invest 35% to 45% of your discretionary income. Because it will not be too aggressive and not too low.

You can continue to buy continuously by adopting the DCA method and if you see a decline in the market, you can buy aggressively if you want.

Buying aggressively to build a bitcoin portfolio is a great idea though but you first have to put your financial income sources in order and what I mean by this is that you must strive to have a multiple sources of income that are reliable and considerate to be able to have to strong financial flow that could help you buy aggressively even while using the DCA approach. With multiple income sources you can dedicate a single source for your bitcoin portfolio accumulation, while direct other sources towards everyday demands and emergency needs. Imho, you can't successfully maintain aggressive buying with a single income source because you can't always pend other real life demands.

Do you know that as i Perus on some post here, i came up with this question, how can an investors buy Bitcoin aggressively with his discretionary income and invest for long term cycles without ending up making use of short term investment since such investors doesn't have any source of income? And why i ask this question is that i came across where some investors are saying that, you must have a steady source of income before you can invest, which is a true talk because a steady cashflow will influence any investors to invest in long term investment and also have an emergency fund that can back he up incase of any unforeseen circumstances.

But @Lida93 post that i quoted has just given me the reason to have financial sources in multiple in order to maintain long term investment and that will always make you buy Bitcoin aggressively and i totally agree with him.

[CageMabok]

...

Yes you are right but if you find a second source of income and work to invest it is very good. But you have to take care that you do not harm yourself while doing this work. For example, many times our health gets very bad while doing a lot of work. And later we become very sick, work by considering all these aspects. Remember one thing, the richer you are, the more you spend. So if you can do extra work then continue working if you cannot then change your decision. Because you want to do this to invest extra but if you get into a big physical problem then your investment may be at risk.

Not all work is physically demanding, although all work can be time-consuming because all work always requires time. But as long as a Bitcoin investor's work still allows them to continue investing, I don't think it will directly impact their physical health. There are many people in the world who still work two different jobs, yet they are still quite healthy and have no problems in their lives. Anyone who has become an investor, especially an investor who frequently buys Bitcoin, would be better off if they could have more than one job because they could easily utilize the income from both jobs for themselves and could also directly apply it to Bitcoin investments more regularly without any obstacles.

[I_Anime]

...

Yes you are right but if you find a second source of income and work to invest it is very good. But you have to take care that you do not harm yourself while doing this work. For example, many times our health gets very bad while doing a lot of work. And later we become very sick, work by considering all these aspects. Remember one thing, the richer you are, the more you spend. So if you can do extra work then continue working if you cannot then change your decision. Because you want to do this to invest extra but if you get into a big physical problem then your investment may be at risk.

Not all work is physically demanding, although all work can be time-consuming because all work always requires time. But as long as a Bitcoin investor's work still allows them to continue investing, I don't think it will directly impact their physical health. There are many people in the world who still work two different jobs, yet they are still quite healthy and have no problems in their lives. Anyone who has become an investor, especially an investor who frequently buys Bitcoin, would be better off if they could have more than one job because they could easily utilize the income from both jobs for themselves and could also directly apply it to Bitcoin investments more regularly without any obstacles.

Boils down to the kind of stuff you are into, they are some folk that are okay with just having one good paying job that can cover their expenses and same time enable them to invest without having any stress. Having more than one sources is also good but still don’t over push yourself because health is wealth . There are some jobs that are draining , so is still good to watch your health too , just like they always you can be aggressive but don’t over do it .

[danadc]

But @Lida93 post that i quoted has just given me the reason to have financial sources in multiple in order to maintain long term investment and that will always make you buy Bitcoin aggressively and i totally agree with him.

I'm one of those who would buy BTCat all costs and aggressively Don't you see that BTC reached a new ATH today at $112k and it's one of the most beautiful things in this market? When many were saying the price was going to fall, it simply rose to $112k Those who bought at $104k are already making a significant profit.

If there's more income, it's better and easier to invest, It's a thousand times better to invest than to save, so the money keeps moving and grows in BTC.

[Ojima-ojo]

Building an emergency fund before Bitcoin investment is a kind of security for you Bitcoin portfolio a d DCA jurney, because by having that emergency found, you will not have any pressure on your Bitcoin investment and that way, regardless of your overall income and cash flows you can comfortably buy and hold Bitcoin for long term.


A lot of newbies in Bitcoin investment have made the mistake of buying Bitcoin when they have no emergency found or even not having a good stable income to hold Bitcoin comfortably without exchange them when they hard pressure.

[Zackz5000]

A lot of newbies in Bitcoin investment have made the mistake of buying Bitcoin when they have no emergency found or even not having a good stable income to hold Bitcoin comfortably without exchange them when they hard pressure.

It is better they bought bitcoin without first figuring out if they have an emergency fund, instead of waiting to have an emergency fund first, getting started when you have your discretionary income should be considered first an emergency fund can come later so it's never a mistake for newbies to first accumulate Bitcoin workout having emergency fund so don't get them mislead,  also not having a good stable income shouldn't hinder you from not getting started as long as you have figured out your leftover fund which is your discretionary income you can get started ASAP.

[Derekfunds]

...

Yes you are right but if you find a second source of income and work to invest it is very good. But you have to take care that you do not harm yourself while doing this work. For example, many times our health gets very bad while doing a lot of work. And later we become very sick, work by considering all these aspects. Remember one thing, the richer you are, the more you spend. So if you can do extra work then continue working if you cannot then change your decision. Because you want to do this to invest extra but if you get into a big physical problem then your investment may be at risk.

Not all work is physically demanding, although all work can be time-consuming because all work always requires time. But as long as a Bitcoin investor's work still allows them to continue investing, I don't think it will directly impact their physical health. There are many people in the world who still work two different jobs, yet they are still quite healthy and have no problems in their lives. Anyone who has become an investor, especially an investor who frequently buys Bitcoin, would be better off if they could have more than one job because they could easily utilize the income from both jobs for themselves and could also directly apply it to Bitcoin investments more regularly without any obstacles.

Boils down to the kind of stuff you are into, they are some folk that are okay with just having one good paying job that can cover their expenses and same time enable them to invest without having any stress. Having more than one sources is also good but still don’t over push yourself because health is wealth . There are some jobs that are draining , so is still good to watch your health too , just like they always you can be aggressive but don’t over do it .

I think having only a single source of income that you are using to take care of your expenses and investment is far better than plenty source of income that someone can not use to take care of their expenses and investment and a lot of people are into this category of people that can not..., and someone who has more than one source of income and knows how to manage his investment and take good care of their expenses is also great. Every individual should know their capacity and know the kind of job they can handle and the kind of job they can not handle, overstressing oneself because of our investment and expenses won't worth it because the moment one break down, is either they use the money he or she has worked for years to take care of the person or the person might even die leaving all the things he or she has worked for that's why it is not good to overstress.

[Ivystar5]

A lot of newbies in Bitcoin investment have made the mistake of buying Bitcoin when they have no emergency found or even not having a good stable income to hold Bitcoin comfortably without exchange them when they hard pressure.

I wouldn't consider it a mistake for newbies because even after buying without emergency funds set ups you can still set that up after having at least little to your portfolio while putting yourself to order, in my opinion some of this newbies that does this are opportunity grabbers which is even better than those who wait for the perfect timing which might not come, so I prefer they buy this bitcoin being imperfect and learn about things as time goes by than try to be all perfect set up all types of funds before ever getting to buy the real deal, bitcoin usually serve us opportunities like the little dips which a newbie could see and grab yet learn the who processes as time permits.

[Sticky Bomb]

I don't think our emergency and reserve funds should come from our discretionary rather our discretionary is always used for Investing regular using the DCA depending on the method an investor chooses and then for front loading or for aggressive purchase when there is Dip.

You are supposed to build out your emergency fund and other variances of backup funds from a part of your discretionary income. Sim_Card is right because if you invest all your discretionary income into bitcoin and fail to build out your backup funds properly alongside your accumulating bitcoin, you run at a risk of tampering with your portfolio when the needs that would've been solved by your backup funds arises.

If there is an emergency and you do not have an emergency fund to sort it out, what would you do? Of course you would be left with no other option than to tamper with your portfolio in order to solve it and that is a bad approach to investing into bitcoin.

Again investing aggressively with your discretionary income without building your backup funds can best be described as being over aggressive and this can harm your bitcoin portfolio and stagnant your accumulation journey on the long-run because it would definitely prove unsustainable.

[Mr Reporter]

A lot of newbies in Bitcoin investment have made the mistake of buying Bitcoin when they have no emergency found or even not having a good stable income to hold Bitcoin comfortably without exchange them when they hard pressure.

I wouldn't consider it a mistake for newbies because even after buying without emergency funds set ups you can still set that up after having at least little to your portfolio while putting yourself to order, in my opinion some of this newbies that does this are opportunity grabbers which is even better than those who wait for the perfect timing which might not come, so I prefer they buy this bitcoin being imperfect and learn about things as time goes by than try to be all perfect set up all types of funds before ever getting to buy the real deal, bitcoin usually serve us opportunities like the little dips which a newbie could see and grab yet learn the who processes as time permits.

I think the summary of what I have understood so far is that the approach some newbies should really take is to emphasise the importance of taking healthy mindset actions and learning from others experiences and also learning to adapt to the market, rather than waiting for ideal conditions. The part you made mention of can still set up emergency funds after investing. I would say even if they don't have everything perfect from the start, in my own little understanding, they can still adjust, and then improvement takes place, plus improving their strategy changes over time.