Buy Buy Buy or Sell Sell Sell?

[jems]

Backup fund is so effective that it protects you from sudden danger.

Yea, it's true that back up funds is very important for a healthy investment in Bitcoin, but I don't understand the type of danger you are talking about, but if you are talking about emergency situation that is threatening your investment, then emergency funds is what you should be talking off, not a backup funds, even though it plays a very important role in your investment journey.

And backup fund is financial security insurance.

Yes, you are right to an extent, but for the security of your Bitcoin investment , you need to have emergency and back up funds in place, not just one of them.

Backup fund is more of a generalized term that includes other funds such as emergency fund, reserved and others so you shouldn't be trying to separate them out to look like very different forms of fund, it's true that @Lembo69 should have been more specific on which backup fund he meant rather than use the general term but he still wasn't entirely wrong with what he said, so when we have an emergency fund ready it means we already have a form or backup fund ready but we can claim to have backup fund without necessarily have an emergency fund ready.

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

[ASloveapg]

Backup fund is so effective that it protects you from sudden danger.

Yea, it's true that back up funds is very important for a healthy investment in Bitcoin, but I don't understand the type of danger you are talking about, but if you are talking about emergency situation that is threatening your investment, then emergency funds is what you should be talking off, not a backup funds, even though it plays a very important role in your investment journey.

And backup fund is financial security insurance.

Yes, you are right to an extent, but for the security of your Bitcoin investment , you need to have emergency and back up funds in place, not just one of them.

Backup fund is more of a generalized term that includes other funds such as emergency fund, reserved and others so you shouldn't be trying to separate them out to look like very different forms of fund, it's true that @Lembo69 should have been more specific on which backup fund he meant rather than use the general term but he still wasn't entirely wrong with what he said, so when we have an emergency fund ready it means we already have a form or backup fund ready but we can claim to have backup fund without necessarily have an emergency fund ready.

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

Emergency fund does not seem very necessary to many people in the first place, so they ignore it, but later when they face problems, they are forced to sell their holdings, that too at a loss, and at that time they understand the importance of emergency fund. But this understanding should be done first, after starting investment, create an emergency fund, do not ignore it, because this is the charm of protection, the main advantage of having an emergency fund is that you do not have to touch the investment if any problem suddenly arises. It keeps the investment safe and does not allow the long-term plan to derail.

[ruykeri]

Eventually not having fully funded emergency funds should not be a reason to avoid buying some Bitcoin if your fully aware that the money used is discretionary funds, And not your main money.
Even small emergency funds when accumulated will go a long way in times of emergency, as long as it is a little bit significant it will be worth it in a long run.
DCA strategy has made it even easier for average individuals, investing small fixed amount each pay day will help build a good position over time, even as you keep aside little for your emergency funds as well,
you can start little after sometime you get more balance and increase the both. BUT not having fully emergency funds is not a definitive barrier to make small regular investments with the use of DCA.

You first said that you should invest in emergency fund and Bitcoin together and what I understood from your words at the end is that even if you do not have an emergency fund, you should invest in Bitcoin according to the DCA method. In fact, the main thing is that if you do not have the financial condition to invest in Bitcoin for a long time, then you should definitely think about it before starting the investment. And if you want to invest for a long time, you must definitely form an emergency fund. You do that before you start investing or continue to form it along with the investment if you have a regular income flow.

You mentioned a monthly salary, let's say someone earns $600 per month. From there, he invests $200 in Bitcoin, which is part of his discretionary income. If his job suddenly goes bankrupt or his income source stops, he will not be able to continue investing. Even at that time, if his or any family member needs money in an emergency, he will be forced to sell Bitcoin. And if the price of Bitcoin is low at that time, then he will face a lot of losses. That is why it is important to give so much importance to back up funds for long-term investment in Bitcoin. If you give a concept based on your current position or income, then beginners will misunderstand.

[Juicyhome]

Bitcoin is meant for buying and selling, Even if you hold for long you can still sell. But the more you buy dip and sell in a long time more profit you gain. It's about your financial status, if your financially stable you can buy dip and wait for long for your profit. But if your not stable you won't have the fund to buy dip. In Bitcoin investment having stable job outside Bitcoin is gain. Because you won't be move to sell when you are in need unlike those that hope only on Bitcoin investment funds.

Having patient and stable income are required in Bitcoin investment, selling your Bitcoin when you have no need for the money is waste, except is emergency. But as an investor always have an emergency money In Fiat, it will save you from selling your portfolio prematurely.

[ZeroVinsonN]

Backup fund is so effective that it protects you from sudden danger.

Yea, it's true that back up funds is very important for a healthy investment in Bitcoin, but I don't understand the type of danger you are talking about, but if you are talking about emergency situation that is threatening your investment, then emergency funds is what you should be talking off, not a backup funds, even though it plays a very important role in your investment journey.

And backup fund is financial security insurance.

Yes, you are right to an extent, but for the security of your Bitcoin investment , you need to have emergency and back up funds in place, not just one of them.

Backup fund is more of a generalized term that includes other funds such as emergency fund, reserved and others so you shouldn't be trying to separate them out to look like very different forms of fund, it's true that @Lembo69 should have been more specific on which backup fund he meant rather than use the general term but he still wasn't entirely wrong with what he said, so when we have an emergency fund ready it means we already have a form or backup fund ready but we can claim to have backup fund without necessarily have an emergency fund ready.

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

I don't think I will want to call 3-5 months worth of my income a small portion because it's actually alot and depending on what percentage of your income goes to emergency fund it can actually take a good amount of time before you can actually reach your expected estimation which can even be between 1 year or 2, it's value should never be underestimated because it could be the only thing standing between you and selling your bitcoin too early.

[Cossyblack]

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

You're quite right, we ought to have a emergency funds that will protect our bitcoin investments against any unforseen circumstances that threatens our Bitcoin investment. However, not having a Emergency funds shouldn't be an impediment as to why your Bitcoin investment should be delayed. Your emergency funds can be created later,it isn't a must that you should have it before starting a Bitcoin investment.You can begin accumulating Bitcoin and plan for your Emergency funds later.

[avp2306]

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

You're quite right, we ought to have a emergency funds that will protect our bitcoin investments against any unforseen circumstances that threatens our Bitcoin investment. However, not having a Emergency funds shouldn't be an impediment as to why your Bitcoin investment should be delayed. Your emergency funds can be created later,it isn't a must that you should have it before starting a Bitcoin investment.You can begin accumulating Bitcoin and plan for your Emergency funds later.

They don't actually need to have a perfect start to succeed on their Bitcoin investment. Since they can pay attention later on on their emergency funds.

Its better to start with accumulating and pay attention later on their emergency funds so that they can work everything well without getting any delays with their investment. Having emergency is important because it can ease out some trouble without touching our investment so hopefully people learn its importance so that they won't fail because there's personal issues happen.

But its good that this has been discussed and people learn the importance of having safety net to protect their investments.

[ASloveapg]

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

You're quite right, we ought to have a emergency funds that will protect our bitcoin investments against any unforseen circumstances that threatens our Bitcoin investment. However, not having a Emergency funds shouldn't be an impediment as to why your Bitcoin investment should be delayed. Your emergency funds can be created later,it isn't a must that you should have it before starting a Bitcoin investment.You can begin accumulating Bitcoin and plan for your Emergency funds later.

An emergency fund is essential, an emergency fund is essential to sustain investments in the long term, having an emergency fund is undoubtedly an important part of smart financial management, especially when one invests in a long-term and volatile asset like Bitcoin, and since you will definitely have to hold this investment for the long term, it is essential to prepare an emergency fund so that your investment does not have any negative impact if unexpected situations occur.

[Skydrill]

Backup fund is so effective that it protects you from sudden danger.

Yea, it's true that back up funds is very important for a healthy investment in Bitcoin, but I don't understand the type of danger you are talking about, but if you are talking about emergency situation that is threatening your investment, then emergency funds is what you should be talking off, not a backup funds, even though it plays a very important role in your investment journey.

And backup fund is financial security insurance.

Yes, you are right to an extent, but for the security of your Bitcoin investment , you need to have emergency and back up funds in place, not just one of them.

Backup fund is more of a generalized term that includes other funds such as emergency fund, reserved and others so you shouldn't be trying to separate them out to look like very different forms of fund, it's true that @Lembo69 should have been more specific on which backup fund he meant rather than use the general term but he still wasn't entirely wrong with what he said, so when we have an emergency fund ready it means we already have a form or backup fund ready but we can claim to have backup fund without necessarily have an emergency fund ready.

Backup funds are the spinal cord of your investment, it's so necessary to the extent that without it your investment may be in serious threat, imagine not having a back up fund and you are faced with a financial emergency and you do not have any money saved up to fall back to, it means you might have to temper with your investment.

Many people find it difficult to maintain consistency along the line because they often neglect some of these vital tips required to help sustain their investment that why you see some people complain about selling their Bitcoin not too long after investing.

[Cgrexp]

Backup funds are the spinal cord of your investment, it's so necessary to the extent that without it your investment may be in serious threat, imagine not having a back up fund and you are faced with a financial emergency and you do not have any money saved up to fall back to, it means you might have to temper with your investment.

Many people find it difficult to maintain consistency along the line because they often neglect some of these vital tips required to help sustain their investment that why you see some people complain about selling their Bitcoin not too long after investing.

Not everyone is equally prepared financially. Some people keep two to six weeks of their expenses in cash. Some keep less, some more. Many people have developed the habit of keeping cash because running out of cash creates stress. On the other hand, investing in an asset like Bitcoin with high volatility and long-term upside potential becomes essential. It is also important for those who are new to Bitcoin and have no previous experience. Bitcoin is profitable but it is never a good way to use it to meet short-term needs or demands. Maintaining a backup fund is important for long-term holdings. How much of their BTC an investor will safely store depends on their financial and mental state. And they will become more skilled when they learn from regular practice, education, and experience.

[Joeboy]

Bitcoin is the only coin worth investing into.

It is not good to trade bitcoin or to get involved in shitcoins, yet sure of course, you can do whatever you like, even dumb things and then tell yourself that you are just doing what other guys are doing.. .when in the meantime, you are losing out on focusing on accumulating bitcoin and 4-10 years down the road you end up realizing that you fucked up when you could have had been accumulating bitcoin you were fucking around with shitcoins and/or trading and not making any progress in building up anything of value.. .and you won't be able to go back in time, either.

There are a lot of guys who knew about bitcoin 4-10 years ago or longer and they stilll are fuckign around with shitcoins and/or trading, so sometimes it can take a while to develop good habits and to figure out how to focus on what is valuable rather than trying to get rich quick, but getting nowhere with such a gambling/trading approach to matters.

That's right sir, and I really wished that those folks who still stick with the silly mentality of trading Bitcoin or chasing after shitcoins, get it into their thick skulls that they are really wasting their time and money, when they should be rather focused on a steady amd long term accumulatiion ( 4-10yrs+)  following the DCA strategy with their discretionary income, which will eventually builds up a meaningfull position in bitcoin, and also create wealth in the long run.

[Shineup]

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

You're quite right, we ought to have a emergency funds that will protect our bitcoin investments against any unforseen circumstances that threatens our Bitcoin investment. However, not having a Emergency funds shouldn't be an impediment as to why your Bitcoin investment should be delayed. Your emergency funds can be created later,it isn't a must that you should have it before starting a Bitcoin investment.You can begin accumulating Bitcoin and plan for your Emergency funds later.

I don't agree with you, why later? Emergency funds is very important it can be very risky postponing it to be a later sentiment instead why not divide the money that you want to invest in to two portions, one for the investment and the other for the emergency funds and by so doing you are achieving two important things at the same time, emergency can happen at any time it can even happen during the later time you said which is wrong, I think the best thing to do is to be buying Bitcoin and be building the emergency funds at the same time instead of later.

[UmerIdrees]

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

You're quite right, we ought to have a emergency funds that will protect our bitcoin investments against any unforseen circumstances that threatens our Bitcoin investment. However, not having a Emergency funds shouldn't be an impediment as to why your Bitcoin investment should be delayed. Your emergency funds can be created later,it isn't a must that you should have it before starting a Bitcoin investment.You can begin accumulating Bitcoin and plan for your Emergency funds later.

I don't agree with you, why later? Emergency funds is very important it can be very risky postponing it to be a later sentiment instead why not divide the money that you want to invest in to two portions, one for the investment and the other for the emergency funds and by so doing you are achieving two important things at the same time, emergency can happen at any time it can even happen during the later time you said which is wrong, I think the best thing to do is to be buying Bitcoin and be building the emergency funds at the same time instead of later.

That might be the biggest mistake of the investor that they allocate all the funds related in Bitcoin from their current all funds, thinking that they may postponed the allocation of emergency funds. The idea is that there is no emergency now so we can accumulate funds for emergency later. The idea may work in some cases but you never know what you have an emergency and you be needing funds. In that case, you would not have any emergency funds and may have to sell Bitcoin in order to meet the emergency expenses.

[Mehmet69]

I don't agree with you, why later? Emergency funds is very important it can be very risky postponing it to be a later sentiment instead why not divide the money that you want to invest in to two portions, one for the investment and the other for the emergency funds and by so doing you are achieving two important things at the same time, emergency can happen at any time it can even happen during the later time you said which is wrong, I think the best thing to do is to be buying Bitcoin and be building the emergency funds at the same time instead of later.

Yes, I agree with you. Investing in Bitcoin and saving money in an emergency fund are both very important things. Investing in Bitcoin is always more important for the long term. It is important for us to be aware of a few things to keep the investment for a long time. If you are going to invest in Bitcoin, you may need an emergency fund or reserve fund at any time. So we should divide the invested money into 2 parts and invest in Bitcoin and an emergency fund.

[Showlove01]

I don't agree with you, why later? Emergency funds is very important it can be very risky postponing it to be a later sentiment instead why not divide the money that you want to invest in to two portions, one for the investment and the other for the emergency funds and by so doing you are achieving two important things at the same time, emergency can happen at any time it can even happen during the later time you said which is wrong, I think the best thing to do is to be buying Bitcoin and be building the emergency funds at the same time instead of later.

Yes, I agree with you. Investing in Bitcoin and saving money in an emergency fund are both very important things. Investing in Bitcoin is always more important for the long term. It is important for us to be aware of a few things to keep the investment for a long time. If you are going to invest in Bitcoin, you may need an emergency fund or reserve fund at any time. So we should divide the invested money into 2 parts and invest in Bitcoin and an emergency fund.

Point of correction you don't invest in Bitcoin and save money in emergency funds, we don't save our money in emergency funds rather we invest in Bitcoin with funds gotten from our discretionary income and then ensure to make available emergency funds in case there's unforseen circumstances tomorrow or in the future we can use it to handle it. So what I'm saying in essence is that what we need when it comes to money is a source of income that will can get our discretionary income and emergency funds from to use an invest and remember this source of income must not be stable nor steady but it should be able to give us our discretionary income and emergency funds that's the most important thing but anyone who is fortunate to have one that is stable or steady, good for the person.

[Grace333]

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

Volatility in the market is what we can't trap in a vacuum which is why even after much of research and with your analytical conclusion you still have to tread the market with caution because you can lose so much within a twinkle of an eye and also still can make profit within that twinkle. In as much as we can't see the future let me ready to accept whatever  event that happens after we might have taken a decision in this crypto space, with this we can be able to Dela with regrets and move forward for another trial again hopefully.

No matter how solid your analysis or research is, the market will always have a mind of its own. Volatility is literally what gives birth to both profits and losses, and the sooner we accept that, the easier it gets to handle whatever outcome comes our way.

I have learned that emotional control is everything in this space, you win some, you lose some, but what really matters is how you react afterwards..

[Silikiem]

And while an emergency fund is quite important, it should even be there before we invest.

Your statement here is not really accurate, no doubt we all need an emergency funds for our bitcoin investment, but It doesn’t mean that if you don’t have the emergency funds yet that you shouldn’t get started with your bitcoin accumulation and investment. Not having an emergency funds at the moment shouldn’t prevent you from getting started with your bitcoin investment as far as you are able to figure out just a discretionary income to use and accumulate and invest in bitcoin. The most important thing here is to get started with accumulating bitcoin when your discretionary income is ready and along the line you can be figuring out ways to improve your finances to enable you to build your emergency funds while you’re accumulating bitcoin.

[Gallar]

Emergency fund does not seem very necessary to many people in the first place, so they ignore it, but later when they face problems, they are forced to sell their holdings, that too at a loss, and at that time they understand the importance of emergency fund. But this understanding should be done first, after starting investment, create an emergency fund, do not ignore it, because this is the charm of protection, the main advantage of having an emergency fund is that you do not have to touch the investment if any problem suddenly arises. It keeps the investment safe and does not allow the long-term plan to derail.

Yes, having emergency funds is very important, especially when we invest in bitcoin. In fact, in my personal opinion, even if we don't invest, emergency funds are still very necessary to have. Because basically, we don't know what our future will be like. That's why emergency funds are very important. Additionally, if someone doesn't have an emergency fund and isn't in the habit of having one, I think that pattern needs to be changed, especially when it comes to bitcoin investment. As we know, bitcoin investment is a long-term endeavor. So, to be able to hold on to it for the long term, we definitely need an emergency fund that we can use whenever an emergency actually strikes. Additionally, don't forget that when investing in Bitcoin, we must use discretionary funds, and this is absolutely essential. Because if we invest in Bitcoin without using discretionary funds, it will be much riskier, especially for people like us.

[ruykeri]

I think it's the same, as it's useful for dealing with unexpected events.
And while an emergency fund is quite important, it should even be there before we invest but I never overthink it because we don't need a large amount, just a small portion of our income before we cover all our needs and then invest the rest.
For me, an emergency fund is important because if an urgent need arises, we don't plan to derail our investments.

You're quite right, we ought to have a emergency funds that will protect our bitcoin investments against any unforseen circumstances that threatens our Bitcoin investment. However, not having a Emergency funds shouldn't be an impediment as to why your Bitcoin investment should be delayed. Your emergency funds can be created later,it isn't a must that you should have it before starting a Bitcoin investment.You can begin accumulating Bitcoin and plan for your Emergency funds later.

There is a lot of logic in your words. But do you know one thing, starting to invest in Bitcoin in a hurry and starting early is not the same thing. Investing in Bitcoin is a long-term plan. And the purpose of an emergency fund is to solve such financial problems so that you are not forced to sell Bitcoin. So it is not like you have to deposit money equal to 3 or 6 months of expenses at once. In the beginning, you can invest in Bitcoin along with creating an emergency fund. In the case of investing in Bitcoin, the earlier you can start investing, the better. But besides starting, the better to create an emergency fund.

[ejikeme24]

Backup fund is more of a generalized term that includes other funds such as emergency fund, reserved and others so you shouldn't be trying to separate them out to look like very different forms of fund, it's true that @Lembo69 should have been more specific on which backup fund he meant rather than use the general term but he still wasn't entirely wrong with what he said, so when we have an emergency fund ready it means we already have a form or backup fund ready but we can claim to have backup fund without necessarily have an emergency fund ready.

I disagree with you when you said that backup funds is more of a generalized term, just as the names implies backup, emergency even without anyone explaining this to you it is very obvious that this both funds does not sound the same emergency funds is supposed to serve for our financial safety and for other unforseen circumstances (accident) while backup funds is supposed to serve for our Bitcoin investment for example when a guy is attempting to increase his level of aggressiveness and it happens that he don't have enough discretionary income to buy as aggressive as he want he can quickly dip his hands in his backup funds to add up to enable him stack as much as he like.

However if an investor does not have enough cash flow or maybe his monthly income is not enough to build this two funds together he can only build up one of this fund in a way that it will be enough to serve for two purpose.