Buy Buy Buy or Sell Sell Sell?

[Joy- maker]

Which ever way you start investing in bitcoin is effective, either by starting small or with a lump sum and that depends on the financial capacity of an individual investor.

the truth is, the strategy we are using to accumulate bitcoin those not matter provided our mindset is long term holding 4 to 10 years or longer, so wether we are investing in bitcoin by buying bitcoin with small amoun of money using the DCA method or lump-sum or buying the dip all the strategies are effective.  But I we advise newbies who are just getting started with bitcoin to use the DCA method, because it will allows them to buy bitcoin at anytime regardless of the market condition, and secondly DCA method also allow them to be consistence and committed in accumulating bitcoin since they are just going to invest in bitcoin with just there discretionary income.

Let’s say you earn $10k and decide to start small with probably $100, I think that makes you unwise knowing too well that after all bills and payment, you might probably be left with $4k for instance. What I’m trying to say is that it’s good to start small if you’re a low income earner but if you’re a high income earner who understands Bitcoin, I see nothing wrong in buying a lump sum. The main purpose is to accumulate more bitcoin on a weekly or monthly basis depending on how financial stable one is and holding for a long term

well I can't  agree with you totally nor  disagree with you totally, but what I can say here is that, it is not in your place to decide for anybody the amount of money they should be investing in bitcoin even if there income is $10k, they can decide to invest any amount that they feel is suitable for them to  invest in bitcoin. so even if they are investing in bitcoin with $100 there is no problem with that that amount providing they are investing in bitcoin for long term 4 to 10 years or more. remember we are advised to invest in bitcoin with the money we can afford to lose so any amount anyone is investing in bitcoin be it $100  that is the amount the person can afford to lose, so stop saying that they are investing unwisely.

[Umulala-alala]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

[Regardme]

Which ever way you start investing in bitcoin is effective, either by starting small or with a lump sum and that depends on the financial capacity of an individual investor.

the truth is, the strategy we are using to accumulate bitcoin those not matter provided our mindset is long term holding 4 to 10 years or longer, so wether we are investing in bitcoin by buying bitcoin with small amoun of money using the DCA method or lump-sum or buying the dip all the strategies are effective.  But I we advise newbies who are just getting started with bitcoin to use the DCA method, because it will allows them to buy bitcoin at anytime regardless of the market condition, and secondly DCA method also allow them to be consistence and committed in accumulating bitcoin since they are just going to invest in bitcoin with just there discretionary income.

Let’s say you earn $10k and decide to start small with probably $100, I think that makes you unwise knowing too well that after all bills and payment, you might probably be left with $4k for instance. What I’m trying to say is that it’s good to start small if you’re a low income earner but if you’re a high income earner who understands Bitcoin, I see nothing wrong in buying a lump sum. The main purpose is to accumulate more bitcoin on a weekly or monthly basis depending on how financial stable one is and holding for a long term

well I can't  agree with you totally nor  disagree with you totally, but what I can say here is that, it is not in your place to decide for anybody the amount of money they should be investing in bitcoin even if there income is $10k, they can decide to invest any amount that they feel is suitable for them to  invest in bitcoin. so even if they are investing in bitcoin with $100 there is no problem with that that amount providing they are investing in bitcoin for long term 4 to 10 years or more. remember we are advised to invest in bitcoin with the money we can afford to lose so any amount anyone is investing in bitcoin be it $100  that is the amount the person can afford to lose, so stop saying that they are investing unwisely.

I wasn’t deciding on an amount to start investing with Joy-maker. I was stating that which ever way one starts investing with is effective, either small or big supposing you’re investing in Bitcoin. It’s all dependent on your financial capability and level of understanding. I only gave that as a instance

[Jaycoinz]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

To actually know everything about what you want to start is virtually something that happens or a thing that people who are scared think of whenever they get an idea or wants to start something, but the truth is that it's the moment you start that you learn along side with your journey because learning process involves making error and also correcting it.

[Just Common]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

I personally think that if you want to work with Bitcoin, you must first have patience. And you have to learn everything about Bitcoin gradually. You cannot understand everything at once when learning about Bitcoin, you have to give it time. The more time you give, the more proficient you will become in Bitcoin. On the other hand, I think that intellectual power is needed.

[Ricardo11]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

I agree with you that this can be a very good option, people delay starting their investment by learning about Bitcoin before they start investing, which is of course unnecessary, and as a result they miss out on good opportunities to start their investment. There is no need to have complete knowledge about Bitcoin when starting your investment, you keep your investment consistent and gain knowledge about Bitcoin while investing, in that case your investment is not being delayed and you are able to accumulate Bitcoin holdings at an average price as a result of continuous investment and at the same time you are able to learn about Bitcoin, which is of course very positive. Over time, as you learn to understand Bitcoin, as with that also your holdings will continue building at an average price.

[_BlackStar]

-snip-

I agree with you that this can be a very good option, people delay starting their investment by learning about Bitcoin before they start investing, which is of course unnecessary, and as a result they miss out on good opportunities to start their investment. There is no need to have complete knowledge about Bitcoin when starting your investment, you keep your investment consistent and gain knowledge about Bitcoin while investing, in that case your investment is not being delayed and you are able to accumulate Bitcoin holdings at an average price as a result of continuous investment and at the same time you are able to learn about Bitcoin, which is of course very positive. Over time, as you learn to understand Bitcoin, as with that also your holdings will continue building at an average price.

You can still delay becoming a trader if you don't understand how the market works and what strategies can make you profitable - but not with investing. You don't need to delay investing any longer if you've learned the basics - but if you're still too new to the concept, then don't invest in any assets you don't understand.

Regardless, everyone should at least know what Bitcoin is and learn the basics before investing. You shouldn't invest simply because you're jealous of someone else who's already achieved returns - while you don't know what Bitcoin is. So, in short, basic knowledge is essential for any prospective investor.

[JayJuanGee]

[edited out]

Yu kw, if you have $10k in pure discretionary income and no pressure elsewhere, going in heavy during a dip might not be a bad move.. But here is the thing, that approach assumes this dip is the bottom, and no one really knows that.

This is why i would say DCA is still the best approach over all. It removes the guesswork. You don’t even have to stress about whether now is the perfect time. You just stay consistent, and over time, your average cost balances out. That kind of peace of mind is underrated...

You have an extra $10k that you can invest into bitcoin, and you are a newbie, and you are suggesting that you DCA the $10k that you currently have?

What is the exact hypothetical?

Let's say that the person is brand new to bitcoin, and maybe he is in his late 20s, and he has an income that is around $30k per year, and he had been investing for the past few years in non-bitcoin investments.. maybe he has $10k in his various investments, but then he also has an additional $10k for some reason that he came across.  Maybe he had been investing into bitcoin already for around 6 months, since the beginning of 2025 at $100 per week, and he plans to continue to invest $100 per week into bitcoin into the future.

So then what is he going to do with the extra $10k that he has?  There are three categories. Invest right away, DCA and buy on dips. It seems logical that he at least considers all three categories, even if he has preferences in regards to one or another, yet $10k is divisible so he does not have to put all of it into one category, even while at the same time there is no requirement that he has to use all three categories - even though there seems to be some logic in terms of using all three categories.

If the guy looks at his current bitcoin holdings, he had invested right around $3,100 into bitcoin since the beginning of the year, so he had accumulated right around 0.032 BTC.. and so the fact that he already has a plan and a practice of accumulating bitcoin at aroudn $100 per week, that amount seems to be working for his current income situation.

Of course, another thing that he could do is to shore up some of his emergency funds and his reserve funds, if he might feel that they are not up to his comfort level, and if we might estimate that his monthly expenses are somewhere in the neighborhood of $1,700, then if he wants to have at least 3 months in his emergency funds, that would be right around $5,100 for his emergency funds..

yu kw, you don’t have to pick one side. but would advise you consider DCA, bcus If I were in your shoes with $10k right now, I wound probably put in like around $3k–$5k if I feel the market is offering a solid discount, but i would still hold back some to DCA over the next few months. With that, if the price drops more, I will not be stuck watching from the sidelines.

In my supplement of the hypothetical the guy is already employing DCA, and he is not adjusting the DCA based on perceptions if the BTC price is high or low, but instead he is investing based on his being new to bitcoin and his wanting to build up a bitcoin stash for the next 4 years or more. Holding back on DCA seems problematic, and waiting to buy dips seems problematic. He has all three categories in regards to the $10k, and if you are suggesting to put $3k to $5k right now, and then wait with the remainder.. but then to stop with his DCA.. that surely seems problematic... which you seem to be betting more on down, even though you are not giving any evidence to show that you are actually sufficiently/adequately prepared for up.. and from my consideration, if you are not sufficiently/adequately prepared for up, then you likely have to keep buying in some kind of way, even if you hold back some of the value for buying dips... and of course, there is no one right answer, even though surely you can hardly say that you are continuing to invest in bitcoin if you stop or lighten up on your DCA merely because you had used $3k to $5k (which is only 30-50%) of the extra funds (the $10k) to buy bitcoin right away.
 

So no, DCA is not just for people with little money, it is for anyone who wants to avoid emotional mistakes. Whether investing $100 or $10,000, having a plan that lets you stay calm matters more than anything.

Fair enough... even though you seem to be suggesting contradictroy actions that involve continuing DCA (at what level?) and cutting down on DCA at the same time... So maybe you can clarify what you mean in regards to presuming that you are going to be able to buy more at lower prices, which there is really no way to know if the BTC price will go lower, even if some of us still might purposefully choose to hold back some value to be able to buy some level of dips or maybe if we are largely doing BTC accumulation on a weekly basis, then we will consider that whatever dip might happen, then if we are buying every week, then we are still likely to catch some portion of any dip that might happen through our weekly buys and there might not even be any great justification to hold back any extra value for buying more on the dip when we are already buying bitcoin every week no matter the price... and surely even within the weekly buys, we might try to see if we can identify some dip prices within each of our weekly buys.. to the extent feasible.

It would be more acceptable if you encourage aggressive buys during the supposed dip. This aggressive buys would be good if someone has a spare money possibly set out for such opportunities or if the person eventually has an extra income. Whichever way, it is good to understand that dips can happen anytime.

You were saying to just keep buying DCA and don't get focused on the price, and then you start to proclaim some kind of benefit in regards to buying more aggressively on dips.

I am not opposed to holding back some value for buying extra on dips, yet there are trade offs with that strategy, and I doubt that it is helpful to change our level of aggressiveness based on BTC price changes, rather than changing our level of aggressiveness based on how solid our cashflow management is..

In other words, we should be able to set up systems that allow for some holding back of value for buying on potential dips, yet the more that we strategize the dips, the more likely we would be employing waiting strategies rather than buying strategies, which I have difficulties considering waiting strategies to capture the idea of what it means to be attempting to be accumulating bitcoin aggressively.

There is ONLY so much that we can do, and if we get so preoccupied about certain level of dips, that no longer seems like investing or even a reasonably measured way to attempt to employ aggressiveness in our bitcoin accumulation practices.

I am not even claiming the answers are easy or that there is any one correct answer since many of us likely prefer to accumulate as much bitcoin as we can, yet we cannot necessarily presume that the BTC price will drop from whatever price location that we are in.

[edited out]

Your tone of enthusiasm about buying at $115k was that of a FOMO investor and just in less than 8 hours we're at $114k. This is the reason why you should learn to manage your anxiety in bitcoin investment, follow your DCA strictly and only trying aggressive buys when you are sure you have additional money or lesser responsibility. Dips will always occur and your DCA period can always land on dips sometimes.

This all makes sense.  We are not likely going to catch any exact dip, even if we are buying weekly, even though we might buy around such dip, and in the whole scheme of things, it may not really matter very much if we were able to buy our extra $100 of the week at $113k or at $116k, even if we would have had preferred to buy that one at $113k rather than $116k, yet if we have 5-10 years of BTC accumulating, we might have had more than 250 purchases over 5 years and more than 500 purchases over 10 years, and sure there might have had been times that we could have had gotten more bitcoin for our money, yet over the 10 years, we likely never knew with any level of confidence whether the BTC price would be going up, down or sideways, especially within short-to-medium time frames..

but never you be in a competition with anybody in bitcoin investment because your financial status is different from other investors, invest what you can afford to lose in bitcoin investment which is my advice to newbies.

You're very correct when you said an investor is not to be in competition with anyone due to difference in financial stabilities. Some people end up measuring their success with others which is not right because even if you earn same amount with someone, it's not a guarantee that you have same pace of progress because responsibilities differ and your colleague might have a different income source without telling you.

Quite a few things within the personal factors could have subtle differences even if there may appear to be similarities.

However, saying that an investor should invest only what he can afford to loose in bitcoin sounds like a trader's advice.

Suggesting that investors to invest only what they can afford to lose is standard advice that applies to both investing and to trading, since there is no guarantee in either investing or trading, even if we might consider that trading brings higher levels of risk than investing due to the practice of getting in and out of positions more frequently with expectations that there are abilities to time markets and to profit from such timing which might work 9/10ths of the time, and then cause the loss of all profits on the 1/10 of times that it does not work within anticipated parameters.

When someone's target is a long term holding up to 4 to 10 years time or more, the chances of loosing assets are nearly erased as he stands greater chances of making good profit.

That is not true.  A longer time frame allows for time to play out, and so more things can end up happening over time - even though longer time frames does tend to lessen the impact of short-term volatility, especially if the asset (such as bitcoin) ends up having sufficiently strong fundamentals in order to trend upwards in price into the future as it had been trending upwards in the past.  Past performance does not guarantee future results, so we are largely engaging in an asymmetric bet that involves the most that we can lose is 100% of what we put into bitcoin as long as we don't engage in leveraging, then we are limited to losing 100%, yet at the same time, there continue to be decently good odds that are bitcoin returns will equal or exceed other places that we could have had been putting such value during that time.

-snip-

I agree with you that this can be a very good option, people delay starting their investment by learning about Bitcoin before they start investing, which is of course unnecessary, and as a result they miss out on good opportunities to start their investment. There is no need to have complete knowledge about Bitcoin when starting your investment, you keep your investment consistent and gain knowledge about Bitcoin while investing, in that case your investment is not being delayed and you are able to accumulate Bitcoin holdings at an average price as a result of continuous investment and at the same time you are able to learn about Bitcoin, which is of course very positive. Over time, as you learn to understand Bitcoin, as with that also your holdings will continue building at an average price.

You can still delay becoming a trader if you don't understand how the market works and what strategies can make you profitable - but not with investing. You don't need to delay investing any longer if you've learned the basics - but if you're still too new to the concept, then don't invest in any assets you don't understand.

Regardless, everyone should at least know what Bitcoin is and learn the basics before investing. You shouldn't invest simply because you're jealous of someone else who's already achieved returns - while you don't know what Bitcoin is. So, in short, basic knowledge is essential for any prospective investor.

I would hate for anyone to be delayed in getting started with bitcoin based on some abstract need that they have a certain knowledge level in order to get started investing in bitcoin.  Surely anyone getting started in bitcoin might not even need to commit  to investing or to 4-10 years or longer, in order to get started, they may well merely start out with $10 and not really know what they fuck they are doing and/or what the fuck they are intending in regards to bitcoin, except they are intending to get started and to learn as they go.

In other words, there is some logic in getting started and even even starting out more conservatively in such a way that position size can make up for knowledge.. at least in the beginning, and as they learn more, they can increase their position size whether it is weekly through DCA or if they might at some point consider lump sum buying I would imagine that the more aggressive that they choose to become, then their increasing their level of aggressiveness would be based on their increasing their knowledge, their comfort levels  and/or making sure that they have sufficient and adequate cashflow management systems and practices in place that may well include various sufficiently adequate back up funds.

It might be dangerous to suggest some level of knowledge that is needed in regards to bitcoin before starting with bitcoin, even though surely I would consider that there is a need to have some knowledge ikn regards to whether a person has discretionary funds or not, and if a person is not mistaken about his having discretionary funds, then he is able to at least get started.. but yeah, he may need to learn more if he continues to buy bitcoin over an extended period of time, even though for each purchase, the most basic knowledge is whether he has discretionary funds or not, even though at some point he may well need to learn more about what he is investing into in order to make sure that he is investing rather than trading and that he might consider that an investment in bitcoin may well need to have a 4-10 year or longer investment timeline, in order to be serving as an investment rather than a trade or a gamble.

[ruykeri]

On the other hand, if we are already investing on a regular basis and then we are holding back some money in order to later buy on the dip, then that could create some of its own levels of complications, and it is not necessarily unreasonable to hold back some money for potentially buying on dips, especially for people who might have a lot of discretionary income and/or for a person who might have had already accumulated decent amounts of BTC. Holding back for dips does not seem to be a great plan for guys who either don't have a lot of discretionary income and/or for those guys who are fairly early in their bitcoin accumulation journey (and/or earlier in their building of an investment portfolio).

Agreed, a newbie in bitcoin investment trying to save up for a DIP when they can just keep buying doesn't seem like the best of idea, even more so when their discretionary income is also on the low side, buying the dip is good when you already have a good stash of bitcoin and you are already a veteran investor and still DCAing if you want to,

That is why is advisable to newbies using dollar cost average (DCA) to accumulate bitcoin from the market, and it will allow such newbies to gain access to huge amount of income in the bullish season, I believe we all notice that the price of bitcoin has dropped down to $115k few hours ago which is another opportunity for investors using this Dollar cost average (DCA) to make use of the opportunity in this low price to increase the amount of funds they are using weekly or monthly to accumulate bitcoin, but never you be in a competition with anybody in bitcoin investment because your financial status is different from other investors, invest what you can afford to lose in bitcoin investment which is my advice to newbies.

Those who actually follow the DCA method and invest in Bitcoin do not calculate whether the price is decreased  or increased. The price of Bitcoin will always ups and down and those who buy more Bitcoin when the price decreases have the mentality of trader who also When the price increases a little, they will sell it. They are not in the mental state to hold Bitcoin for a long time. If someone buys more Bitcoin when the price is low, then they do not pay attention to their fund management. It is seen that when the price decreases, he buys Bitcoin with all his savings. After that, if he faces any financial problem in the future and if he does not have any reserve fund or emergency fund at that time, he is forced to sell Bitcoin to solve his problem. In this way, he is deprived of the profit that would have been made if he had held Bitcoin for a long time. If someone wants to buy Bitcoin in DIP, it is their personal choice. But overall, if you think about it, those who have a fixed income and have some extra money left over from all their expenses, which we call discretionary income. If he regularly invests a certain amount of money in Bitcoin every month or every week with that money and if it is for a long time like 4 to 10 years, then this way is much better than investing in any other way. Because when he follows the DCA method and invests with extra money after his expenses, the possibility of him getting into financial problems is very low. And before he invests or along with investing, he will create an emergency fund and reserve fund so that even if his regular income stops in the future, he can continue to spend and along with that he can continue to invest in Bitcoin. So I think those who really want to invest in Bitcoin and create a security for their lives for the future should follow DCA and invest for the long term. I myself also thought that if there is a dip should buy more Bitcoin. But actually I was wrong then. Those who want to get real profit from Bitcoin should invest without thinking about the price being high or low. We who lead a middle class or upper middle class life. Those who have 20% to 30% discretionary income from regular income. It is not possible to buy much more Bitcoin from this little amount of money. For ordinary people like us, following DCA is the best way to secure our future.

[Merit.s]

And before he invests or along with investing, he will create an emergency fund and reserve fund so that even if his regular income stops in the future, he can continue to spend and along with that he can continue to invest in Bitcoin

It's better to set up and emergency funds the moment that you have started your bitcoin investment, if you don't have anyone on ground before you plan to start your bitcoin investment. If you want to set it up before start your bitcoin investment, you will be wasting time and missing out the opportunity in the market as a no coiner.

If your income stops in future as you are accumulating bitcoin, it's impossible for you to continue your bitcoin accumulation, so that it doesn't eat up your emergency funds and reserve funds faster before you get a new source of since. Since you don't have an income, you will not have a discretionary income at that moment and anyone without a discretionary income shouldn't accumulate bitcoin with money for his basic needs.

Your reserve funds and your emergency funds will be used to take care of your basic needs and monthly expenses so that you don't sell your bitcoin, while your bitcoin investment stays on hodli. If you go and continue to accumulate bitcoin and your emergency funds and reserve funds dries up and you still don't have a means of income, you will be forced to sell part of your bitcoin investment because you didn't manage your emergency funds properly.

It's good that we avoid any practice that will make us sell part of our bitcoin when it's not of our own will so that our bitcoin portfolio will only keep on increasing in size. When you have gotten a means of income, you can refill your emergency funds and continue with your bitcoin provided you have a discretionary income.

[yixichloro2xx]

-snip-

I agree with you that this can be a very good option, people delay starting their investment by learning about Bitcoin before they start investing, which is of course unnecessary, and as a result they miss out on good opportunities to start their investment. There is no need to have complete knowledge about Bitcoin when starting your investment, you keep your investment consistent and gain knowledge about Bitcoin while investing, in that case your investment is not being delayed and you are able to accumulate Bitcoin holdings at an average price as a result of continuous investment and at the same time you are able to learn about Bitcoin, which is of course very positive. Over time, as you learn to understand Bitcoin, as with that also your holdings will continue building at an average price.

You can still delay becoming a trader if you don't understand how the market works and what strategies can make you profitable - but not with investing. You don't need to delay investing any longer if you've learned the basics - but if you're still too new to the concept, then don't invest in any assets you don't understand.

Regardless, everyone should at least know what Bitcoin is and learn the basics before investing. You shouldn't invest simply because you're jealous of someone else who's already achieved returns - while you don't know what Bitcoin is. So, in short, basic knowledge is essential for any prospective investor.

‎
‎You don not  have to rush into trading if you are still trying to figure out how the market works, that one definitely takes time and practice. But when it comes to investing, especially in Bitcoin, you don not  need to delay forever either. Once you have  learned the basics and understand what you are  getting into, it is okay to start small and build from there.
‎
‎That said, blindly jumping in just because others are making money is not  the best move. If you do not  really know what Bitcoin is or why people value it, then it is  better to pause and learn first. A little foundation can go a long way, and it will help you invest with confidence instead of fear or Fomo.
‎
‎

‎In other words, there is some logic in getting started and even even starting out more conservatively in such a way that position size can make up for knowledge.. at least in the beginning, and as they learn more, they can increase their position size whether it is weekly through DCA or if they might at some point consider lump sum buying I would imagine that the more aggressive that they choose to become, then their increasing their level of aggressiveness would be based on their increasing their knowledge, their comfort levels  and/or making sure that they have sufficient and adequate cashflow management systems and practices in place that may well include various sufficiently adequate back up funds.
‎

‎That is actually a very balanced and practical approach, and one that often gets overlooked. Starting small while you are still learning allows you to build confidence and make mistakes without putting yourself at serious financial risk. It is like easing into the deep end of the pool rather than diving headfirst without knowing how to swim.
‎
‎Position sizing as a function of your current knowledge and cash flow is a smart move. DCA  works well as a beginner friendly strategy and especially if your income is steady and then, as your understanding deepens and your conviction grows, it makes sense to scale up either through larger periodic buys or well timed lump sums.
‎
‎But you are also right to bring up the importance of cash flow systems and backup funds. The more aggressive one becomes, the more crucial it is to have those financial safety nets in place. It is  not just about how much you can invest, it is more about how much you can afford to leave untouched when life throws unexpected expenses your way. That is  what separates sustainable investing from emotional Fomo based decisions....

[CageMabok]

I wasn’t deciding on an amount to start investing with Joy-maker. I was stating that which ever way one starts investing with is effective, either small or big supposing you’re investing in Bitcoin. It’s all dependent on your financial capability and level of understanding. I only gave that as a instance

For example, everyone needs to understand several models with similar goals when investing in Bitcoin. Because when there are examples of larger investments in Bitcoin, these can also serve as a guide for every investor, even those who have started with a small amount are not considered wrong in this matter as long as the person remains consistent in continuing to invest with an amount that is not smaller than the initial amount. Therefore, every discussion must be thoroughly understood so that we can make wiser decisions about the investments we want to make now and in the future.

[ZeroVinsonN]

So I think those who really want to invest in Bitcoin and create a security for their lives for the future should follow DCA and invest for the long term. I myself also thought that if there is a dip should buy more Bitcoin. But actually I was wrong then. Those who want to get real profit from Bitcoin should invest without thinking about the price being high or low. We who lead a middle class or upper middle class life. Those who have 20% to 30% discretionary income from regular income. It is not possible to buy much more Bitcoin from this little amount of money. For ordinary people like us, following DCA is the best way to secure our future.

Let's agree to disagree, regardless of whether your strategy of choice is DCA, buying the DIP, lump sum or any other strategy of your choice, the primary determinant of your investment is your discretionary income, let's say an investor is DCAing on a weekly basis and the investor is a salary earning who gets paid weekly too, and coincidentally he receives a bonus one week and there is a price dip that same week, the bonus income would have increased his discretionary income by a significant percentage meaning that on this particular week with a bitcoin price dip this investor has more discretionary income to buy bitcoin, there is absolutely nothing wrong if this investor decides to buy more than he usually does this time around and if he buys then he would have done so through DCA, buying the DIP and lump sum purchase at the same time since the purchase was done on a regular interval, during a dip and with more money then usual.
For me a situation like this works as a win and should be taken advantage of because at the end of the day the whole investment would have still been done with the investor's discretionary funds with no harm done to his usual way of life.

[Derekfunds]

So I think those who really want to invest in Bitcoin and create a security for their lives for the future should follow DCA and invest for the long term. I myself also thought that if there is a dip should buy more Bitcoin. But actually I was wrong then. Those who want to get real profit from Bitcoin should invest without thinking about the price being high or low. We who lead a middle class or upper middle class life. Those who have 20% to 30% discretionary income from regular income. It is not possible to buy much more Bitcoin from this little amount of money. For ordinary people like us, following DCA is the best way to secure our future.

Let's agree to disagree, regardless of whether your strategy of choice is DCA, buying the DIP, lump sum or any other strategy of your choice, the primary determinant of your investment is your discretionary income, let's say an investor is DCAing on a weekly basis and the investor is a salary earning who gets paid weekly too, and coincidentally he receives a bonus one week and there is a price dip that same week, the bonus income would have increased his discretionary income by a significant percentage meaning that on this particular week with a bitcoin price dip this investor has more discretionary income to buy bitcoin, there is absolutely nothing wrong if this investor decides to buy more than he usually does this time around and if he buys then he would have done so through DCA, buying the DIP and lump sum purchase at the same time since the purchase was done on a regular interval, during a dip and with more money then usual.
For me a situation like this works as a win and should be taken advantage of because at the end of the day the whole investment would have still been done with the investor's discretionary funds with no harm done to his usual way of life.

You are absolutely correct, scanerio like this can occur or happen but in as much as we are being positive we should also consider the negative aspect of things, for something to be in equilibrium both factor or condition have to be consider. Now what if after getting or receiving the bonus from your place of work, don't you think sometimes challenges or needs can arise at same time? And these challenges and needs are the reason why some investors don't double up even when they receive bonus and there is Dip. Considering both factor will help an investor or business person stand firm because they expecting anything ( positive or negative).

[ZeroVinsonN]

So I think those who really want to invest in Bitcoin and create a security for their lives for the future should follow DCA and invest for the long term. I myself also thought that if there is a dip should buy more Bitcoin. But actually I was wrong then. Those who want to get real profit from Bitcoin should invest without thinking about the price being high or low. We who lead a middle class or upper middle class life. Those who have 20% to 30% discretionary income from regular income. It is not possible to buy much more Bitcoin from this little amount of money. For ordinary people like us, following DCA is the best way to secure our future.

Let's agree to disagree, regardless of whether your strategy of choice is DCA, buying the DIP, lump sum or any other strategy of your choice, the primary determinant of your investment is your discretionary income, let's say an investor is DCAing on a weekly basis and the investor is a salary earning who gets paid weekly too, and coincidentally he receives a bonus one week and there is a price dip that same week, the bonus income would have increased his discretionary income by a significant percentage meaning that on this particular week with a bitcoin price dip this investor has more discretionary income to buy bitcoin, there is absolutely nothing wrong if this investor decides to buy more than he usually does this time around and if he buys then he would have done so through DCA, buying the DIP and lump sum purchase at the same time since the purchase was done on a regular interval, during a dip and with more money then usual.
For me a situation like this works as a win and should be taken advantage of because at the end of the day the whole investment would have still been done with the investor's discretionary funds with no harm done to his usual way of life.

You are absolutely correct, scanerio like this can occur or happen but in as much as we are being positive we should also consider the negative aspect of things, for something to be in equilibrium both factor or condition have to be consider. Now what if after getting or receiving the bonus from your place of work, don't you think sometimes challenges or needs can arise at same time? And these challenges and needs are the reason why some investors don't double up even when they receive bonus and there is Dip. Considering both factor will help an investor or business person stand firm because they expecting anything ( positive or negative).

Exactly, not all of the bonus will go into discretionary income, that's why I said 'a significant percentage' so you don't use your entire bonus to invest in bitcoin since it would also help in easing some other responsibilities you might have, but the presense of a bonus will most likely increase your discretionary income which will also lead to you having more money to invest in bitcoin with
Plus this is also why emergency funds exist in the first place, to take care of emergency situations that might arise along the way in order to make sure an investor doesn't sell too early.
So you use a part of the bonus to increase your investment and  use the rest for cater for your other needs, you were given the bonus for a reason after all, it might be a Christmas bonus or it could be for some other reason but at the end of the day a bonus means an increase in that week's income which can also mean an increase in that week's discretionary income as well.

[HajiBagi]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.

Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.

[Jostern]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.

Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.

Honestly speaking, judging by my experience of investing in Bitcoin, I think somehow we should know a little about Bitcoin, most importantly having a basic understanding and knowledge about Bitcoin how it works and how to buy and accumulate and how to stay consistent in terms of accumulating Bitcoin, and I think whatever that requires learning should actually take some time like you’re referring for someone who have some interest to take a time and learn I really do not think that whichever way that we decide to learn everything about bitcoin before investing, I think we would definitely be wasting time and missing out on opportunities.

I don’t think it’s really a good advice for a pleb or a no coiner who have an interest to invest in Bitcoin, to take their time and learn about Bitcoin, then surely they must be missing out on opportunities that comes with investing in Bitcoin, we can always start investing and be learning along the line.
Honestly speaking I didn’t learn everything or take my time to learn anything before I started investing in bitcoin, it was just some little details, believe me most of the things I learnt and know about Bitcoin, it was after I have started investing in Bitcoin I was learning while I was still accumulating on a weekly basis, so newbies can always take this approach of accumulating and learning instead of waiting to learn everything.

[JayJuanGee]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.

Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.

Honestly speaking, judging by my experience of investing in Bitcoin, I think somehow we should know a little about Bitcoin, most importantly having a basic understanding and knowledge about Bitcoin how it works and how to buy and accumulate and how to stay consistent in terms of accumulating Bitcoin, and I think whatever that requires learning should actually take some time like you’re referring for someone who have some interest to take a time and learn I really do not think that whichever way that we decide to learn everything about bitcoin before investing, I think we would definitely be wasting time and missing out on opportunities.

I don’t think it’s really a good advice for a pleb or a no coiner who have an interest to invest in Bitcoin, to take their time and learn about Bitcoin, then surely they must be missing out on opportunities that comes with investing in Bitcoin, we can always start investing and be learning along the line.
Honestly speaking I didn’t learn everything or take my time to learn anything before I started investing in bitcoin, it was just some little details, believe me most of the things I learnt and know about Bitcoin, it was after I have started investing in Bitcoin I was learning while I was still accumulating on a weekly basis, so newbies can always take this approach of accumulating and learning instead of waiting to learn everything.

Getting started is important.. and so no one wants to lose money, so likely they have to figure out whether they have $10 or not and they have to figure out from where they are going to buy their first bitcoin.. so if it is on an exchange or something else, they may well have to learn how to set up the account or perhaps if they are getting their first bitcoin from a friend, then they have to figure out where they are going to store their first bitcoin without losing it...

Other things about bitcoin and their cashflow management they can learn as they go, and surely if they already know that they have poor cashflow management skills, then they still have to figured out whether they have $10 or not, and if they make a mistake about their actually having the $10, then they will have to suffer the consequences of any losses that they incur, so they should  temper their actions in accordance with the knowledge that they have, since none of us should want to put our money into bitcoin and then lose it right away because we either did not have $10 to spare or because we don't have enough knowledge about choosing which kind of an account to create in order to start to accumulate bitcoin through such account.. including if that exchange is relatively safe, which we might not really know the answer to that either, yet it still might be acceptable to learn about the exchange as we go and limit our initial transaction until we learn more about various transactional basics...

and then another question may well come up related to our ability to continue to buy $10 or more every week, and if we don't have an income, we might not be able to continue to buy bitcoin until we get more funds coming in, including we might need to figure out how much money we have available each week after accounting for our expenses...

In the very beginning cashflow management questions are likely similarly relevant as compared with what we think about bitcoin as an investment as compared with other places that we might choose to place our extra money.   See my list of 9 personal factors, and what we think of bitcoin is just one out of the 9 factors.  We do not necessarily need to know the answers to all 9 factors in order to get started, but it might be nice that we have some ideas about them and that we might coninue to look into them if we plan to contnue to invest into bitcoin on a weekly basis or some other periodic timeline.

[Tonimez]

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.

Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.

Honestly speaking, judging by my experience of investing in Bitcoin, I think somehow we should know a little about Bitcoin, most importantly having a basic understanding and knowledge about Bitcoin how it works and how to buy and accumulate and how to stay consistent in terms of accumulating Bitcoin, and I think whatever that requires learning should actually take some time like you’re referring for someone who have some interest to take a time and learn I really do not think that whichever way that we decide to learn everything about bitcoin before investing, I think we would definitely be wasting time and missing out on opportunities.

I don’t think it’s really a good advice for a pleb or a no coiner who have an interest to invest in Bitcoin, to take their time and learn about Bitcoin, then surely they must be missing out on opportunities that comes with investing in Bitcoin, we can always start investing and be learning along the line.
Honestly speaking I didn’t learn everything or take my time to learn anything before I started investing in bitcoin, it was just some little details, believe me most of the things I learnt and know about Bitcoin, it was after I have started investing in Bitcoin I was learning while I was still accumulating on a weekly basis, so newbies can always take this approach of accumulating and learning instead of waiting to learn everything.

As a newbie in bitcoin investment, what you need is only a basic knowledge of what you have decided to go into which include, choosing a wallet, knowing how to buy,  having a discretionary income and aiming at long-term (initial 4 to 10 years). This would allow you kick off your bitcoin investment while also learning the details as you progress. Bitcoin is a complicated asset which you cannot study enough due to its characteristics, ranging from it's limited supply to its Volatility. This would allow you not to waste more time waiting while opportunities pass by.

Sometimes newbies are confused about questions like; if I don't learn everything about bitcoin investment, how will I be sure that I am not going to loose all my money? In that case I think the necessary initial confidence is to come from the person who is about introducing them. I would like to chip in something here, when introducing bitcoin investment to someone who's a novice or have had some Ponzi schemes scam experience, it is important to not that at first he may not want to admit that bitcoin is not a Ponzi scheme. So it's advisable to remind him that you gain nothing for introducing him neither would you loose anything for not introducing him. I have tried this format and I can tell you that it saved me some energy and delivered the information faster. Sometimes people believe that you are only introducing them because of what you stand to gain which is not true.

that is why i always advise  newbies over time that at your earliest stage of your Bitcoin journey it is always advisable to learn everything that you needed to know about Bitcoin investments .

Trying to learn all about bitcoin before getting started can be disturbing procastination might come in and you may not be able to start buying bitcoin, there are experience you will get when when you get started then waiting to learn everything before you start buying bitcoin, if you already have some little knowledge about and you also see that you have a discretionary income you can get started on that process you can be learning gradually about bitcoin and still be buying bitcoin and that will be the best because the time you will be waiting and learning bitcoin you can actually use it to be buying bitcoin using the dca method consistently and hold for long time.

So you mean without having any knowledge about Bitcoin, I can invest? Because I don’t think someone can just wake up a day without knowing the process of how to buy Bitcoin and say he or she want to invest in Bitcoin, everything needs to be learned that is why it is advisable to know about Bitcoin before investing in it, i don’t think knowing about Bitcoin before buying is a wasting of time and it will never be a waste of time to me because in anything you do you have to know what you are doing to avoid regretting at the end.

Although time wait for nobody and there are different ways to invest in Bitcoin but some people find it difficult to understand, some people might be thinking negative about it or fear to not get scammed at the process when they never know much about Bitcoin, as far as Bitcoin is still in the market and everyone can invest in time with any amount you are capable of investing, I will advise for newbies should understand take their time to learn before taking action, it won’t take long and I believe they will understand.

Honestly speaking, judging by my experience of investing in Bitcoin, I think somehow we should know a little about Bitcoin, most importantly having a basic understanding and knowledge about Bitcoin how it works and how to buy and accumulate and how to stay consistent in terms of accumulating Bitcoin, and I think whatever that requires learning should actually take some time like you’re referring for someone who have some interest to take a time and learn I really do not think that whichever way that we decide to learn everything about bitcoin before investing, I think we would definitely be wasting time and missing out on opportunities.

I don’t think it’s really a good advice for a pleb or a no coiner who have an interest to invest in Bitcoin, to take their time and learn about Bitcoin, then surely they must be missing out on opportunities that comes with investing in Bitcoin, we can always start investing and be learning along the line.
Honestly speaking I didn’t learn everything or take my time to learn anything before I started investing in bitcoin, it was just some little details, believe me most of the things I learnt and know about Bitcoin, it was after I have started investing in Bitcoin I was learning while I was still accumulating on a weekly basis, so newbies can always take this approach of accumulating and learning instead of waiting to learn everything.

Getting started is important.. and so no one wants to lose money, so likely they have to figure out whether they have $10 or not and they have to figure out from where they are going to buy their first bitcoin.. so if it is on an exchange or something else, they may well have to learn how to set up the account or perhaps if they are getting their first bitcoin from a friend, then they have to figure out where they are going to store their first bitcoin without losing it...

Other things about bitcoin and their cashflow management they can learn as they go, and surely if they already know that they have poor cashflow management skills, then they still have to figured out whether they have $10 or not, and if they make a mistake about their actually having the $10, then they will have to suffer the consequences of any losses that they incur, so they should  temper their actions in accordance with the knowledge that they have, since none of us should want to put our money into bitcoin and then lose it right away because we either did not have $10 to spare or because we don't have enough knowledge about choosing which kind of an account to create in order to start to accumulate bitcoin through such account.. including if that exchange is relatively safe, which we might not really know the answer to that either, yet it still might be acceptable to learn about the exchange as we go and limit our initial transaction until we learn more about various transactional basics...

and then another question may well come up related to our ability to continue to buy $10 or more every week, and if we don't have an income, we might not be able to continue to buy bitcoin until we get more funds coming in, including we might need to figure out how much money we have available each week after accounting for our expenses...

In the very beginning cashflow management questions are likely similarly relevant as compared with what we think about bitcoin as an investment as compared with other places that we might choose to place our extra money.   See my list of 9 personal factors, and what we think of bitcoin is just one out of the 9 factors.  We do not necessarily need to know the answers to all 9 factors in order to get started, but it might be nice that we have some ideas about them and that we might coninue to look into them if we plan to contnue to invest into bitcoin on a weekly basis or some other periodic timeline.

Having a source of income is a crucial first step in bitcoin investment. It does not only allow you to invest regularly, it also helps you hold your bitcoin stash for a long time without premature sales. I don't think that investing when you cannot sustain it would be very advisable since this is the beginning of bitcoin gambling. When a person invests without having what he's doing, he's only monitoring the chart to see that it has appreciated before he withdraws it. Appreciation may happen and depreciation may also happen. This is why long term holding remains the best and as a newbie, long-term holding won't be very possible when you don't have anything that gives you a source of income.

[JayJuanGee]

[edited out]

As a newbie in bitcoin investment, what you need is only a basic knowledge of what you have decided to go into which include, choosing a wallet, knowing how to buy,  having a discretionary income and aiming at long-term (initial 4 to 10 years). This would allow you kick off your bitcoin investment while also learning the details as you progress. Bitcoin is a complicated asset which you cannot study enough due to its characteristics, ranging from it's limited supply to its Volatility. This would allow you not to waste more time waiting while opportunities pass by.

Sometimes newbies are confused about questions like; if I don't learn everything about bitcoin investment, how will I be sure that I am not going to loose all my money? In that case I think the necessary initial confidence is to come from the person who is about introducing them. I would like to chip in something here, when introducing bitcoin investment to someone who's a novice or have had some Ponzi schemes scam experience, it is important to not that at first he may not want to admit that bitcoin is not a Ponzi scheme. So it's advisable to remind him that you gain nothing for introducing him neither would you loose anything for not introducing him. I have tried this format and I can tell you that it saved me some energy and delivered the information faster. Sometimes people believe that you are only introducing them because of what you stand to gain which is not true.

I frequently tell people that I don't give any shits if they buy bitcoin or not, yet I am letting them know for their own good, and they can choose to look further into bitcoin and/or to get started or they can just wait until later (or not at all).  People tend to be reluctant, even when given them sufficient information and even being somewhat available for them to ask questions.. yet at the same time, they have to do the work, and I am not going to sit down for several hours with anyone because there is a lot of necessity for self-directed investigations into the bitcoin matter and even into just figuring out how to get started.

[edited out]

Having a source of income is a crucial first step in bitcoin investment.

That is not true.  To get started all you need is discretionary funds.  Of course, if you are going to continue, then it is nice to have a steady income, but it is not necessary to have a steady income in order to invest in bitcoin.

It does not only allow you to invest regularly, it also helps you hold your bitcoin stash for a long time without premature sales.

Of course, it is better to have more income, but it is not necessary to get started and it is not necessary to be able to continue to invest whenever income comes in.

Surely if a person has more income that is better, but it is not necessary to have steady income to invest in bitcoin.. .They just as best as they can and when they can whenever they have discretionary funds available.

I don't think that investing when you cannot sustain it would be very advisable since this is the beginning of bitcoin gambling.

 Investing within your discretionary funds is not gambling.

Investing beyond your discretionary funds is gamling.

I would not presume merely because someone does not have steady funds that they also do not have discretionary funds. It is a bad assumption, and you are creating an extra requirement that does not exist in order to invest into bitcoin.

When a person invests without having what he's doing, he's only monitoring the chart to see that it has appreciated before he withdraws it.

That would be investing with money that you need, and yeah, that is not recommended.  It is not recommended to invest with money that is needed and it is not recommended to trade or gamble bitcoin, even though some people will do that.... and yeah they can do what they want, it is their choice, but it is not investing if money needed for expenses is being used.
 

Appreciation may happen and depreciation may also happen. This is why long term holding remains the best and as a newbie, long-term holding won't be very possible when you don't have anything that gives you a source of income.

It is true that a person who does not have steady income may well need to look to improve their income situation, yet they do not need to secure steady income prior to getting started investing in bitcoin.