Buy Buy Buy or Sell Sell Sell?

[Kelward]

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.

You are saying this in a misleading way.

Everyone needs some back up funds, yet they do not need to build up their back up funds to high levels before starting to invest in bitcoin, yet if they start investing in bitcoin and they have no back up funds, then they are engaging in bad practices that involve gambling with their bitcoin.

Sure in the very beginning the size of their back up funds might not need to be a lot, since they may well build their bitcoin and their emergency funds at about the same pace, and I don't even have a problem building the bitcoin faster than the emergency funds, even though there is some risk in that, yet I do have a problem with the idea that your bitcoin investment can be safe if you have no back up funds... whether you are paid daily, weekly monthly or some other frequency, when you have a bitcoin investment, there is a need to protect it so that you do not tap into it (even if it is profitable), so you have to have some funds to fall upon if you have some extra expenses and/or some loss of income.

It is correct to say that we do not want to delay starting our bitcoin investment based on our not having back up funds, yet if we have absolutely no extra money, then it is questionable if we even have discretionary income, since our investment in bitcoin comes from discretionary income, not from money we need for expenses... so if we are coming to wrong calculations about whether we have discretionary income, we are being too rash and sloppy in our approach to bitcoin investing.

Thanks for this clarification, I also know that even though we don't need to have a sizeable emergency funds and backup funds it is still necessary to have them when planning to buy Bitcoin. Definitely a new investor that doesn't have a sizeable discretionary funds can start their DCA method small, make a budget on how much they are comfortable to buy Bitcoin with, keep a little for backup and emergency funds. If you're going into Bitcoin investment for the long term you need to have these back up and emergency funds at hand no matter how small just in case an unexpected happens.

Just like Bitcoin that we cannot accurately predict what price will be in the next few hours so also we cannot predict what can happen to us and our dependants unexpectedly. So putting all or almost all the funds in your discretionary funds into buying Bitcoin is not a smart investment decision. When you build your back up funds over a period of time you can use a part of it to buy a dip if the opportunity arises, meanwhile your DCA is still running undisturbed.

[Barrykbest]

I wouldn't agree that if anyone is buying Bitcoin for short term to get profit in short term is anything linked to gambling ? This is not gambling at all but in fact that there are three types of traders that includes the short term traders, the midterm trade and the long term holders.

let me put it this Way, engaging yourself into short term investment does not make you an investor but you're obviously a trader. I feel that the reason why folks who invest for short term profit is more likely to be considered as gambling is due to the high level of risk that is involved in short term investment, if you are deep into short term investment you hardly escape the dip because there is a lot of pressure that you will be facing during that stage that May likely push you into selling your Bitcoin at a bigger Lost so to avoid this emotional trauma you only need to focus on the long term goal, as a newbie it is going to be a bad thing if your first entry is just to incur loss.

One of the major problems traders or short time investors face  is the fact that they can always loose alot because they don't Hodl for long. Sometimes, it may seen to them that they have made some gains by selling off some or all of their assets now, but that same amount of assets sold out now can become 5-10× gains yeild in the next 2,2,4-5 years time only if they were able to Hodl. In this case, even though they smiled that they have made gains now, but ironically, they have lost greatly because they would have made more gains as exemplified above if they held there assets and the price of Bitcoin rises.

Another kind of loss that short time investors or traders suffer is that, sometimes, they don't even have the grace of making little gains form there Holdings at all, sometimes, they just buy and waiting for a little top so that they can sell, but the opposite happens, suddenly, the market price Dips, and while they are still thinking wether or not to sell or Hodl, the price Dips the more, and out of fear of loosing everything entirely, both there entry amount, they hurriedly sell at a more Lower price just to at least not loss everything. At this point, they have lost both sides and woefully.

Sincerely, trading is not available at all, as long term investment plan is the real deal in Bitcoin. Traders look only at immediate value, forgetting that with Bitcoin in your possession, your future is secured and solidified. Think long term, buy consistently and Hodl

You made a solid point, NewRevelation. Many people especially those that are just beginning confuse short-term trading with quick success, not realizing that it demands high skill and emotional control. However, I think both trading and long-term holding can work if approached with discipline and a clear plan. The real problem begins when someone trades without understanding market behavior or without setting limits for loss and profit.
Long-term holding gives peace of mind, but short-term trading, when done carefully, can also help investors take advantage of volatility. The advice is to focus on consistency, risk management, and not letting emotions decide when to buy or sell.

[Bigjoe33]

Thanks for this clarification, I also know that even though we don't need to have a sizeable emergency funds and backup funds it is still necessary to have them when planning to buy Bitcoin.

I don't really understand your point here about emergency funds clearly. Are you saying that it is necessary we must have them while planning to buy Bitcoin?, that is we must have been able to have emergency funds first, and back up funds and after our planning, we can now start our investment? If that's your point, then it looks like not a good investment mindset as raising emergency funds and/back up funds first during your planning days before you now eventually start up your investment journey may be a time wasting method which is not good for investors, because you may never know how long you would take to build up your emergency funds or back up funds, no matter how little you would want to raise before starting your investment.

Perhaps, emergency funds does not stop you from starting your investment, after all, you are not investing with your emergency funds but with your discretionary. We know emergency and back up funds are all very important to keep your assets for long, no doubt, but we can actually start up our investment journey without having any emergency funds or back up funds, yea, but we must begin immediately to start building them up as soon as we start our investment as your income allows you, of course, still from your discretionary income.

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

[Umulala-alala]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

[Showlove01]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

You seems to have another plan while investing in Bitcoin and to tell you truth you will be deceiving yourself to think you can be investing with the plan of gambling your Bitcoin I mean how and why will you even do that? It has been stated countless time that gambling or trading our Bitcoin is not the best way to go about Bitcoin because whether you like it or not you definitely sell in loss because the price will not go as you wish or planned it. No matter how small someone start it doesn't really matter, what matters is sustaining your investment and doing the right thing.

[abaeze]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

You are right - the first thing you need to invest in Bitcoin is discretionary income and the will to invest and patience because with discretionary income, it is easy to invest in Bitcoin and later a proper investment plan is needed to gradually increase the security of this investment. Emergency fund and discretionary income are the most important for investing in Bitcoin and with these two strong foundations, it is possible to invest in Bitcoin safely at any time in the long term. These two are the basic fundamentals we can say for investing in Bitcoin. Invest in Bitcoin is easy but the biggest obstacle to holding it for the long term is selling it immediately due to fear or lack of knowledge.

[Padi24]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

You seems to have another plan while investing in Bitcoin and to tell you truth you will be deceiving yourself to think you can be investing with the plan of gambling your Bitcoin I mean how and why will you even do that? It has been stated countless time that gambling or trading our Bitcoin is not the best way to go about Bitcoin because whether you like it or not you definitely sell in loss because the price will not go as you wish or planned it. No matter how small someone start it doesn't really matter, what matters is sustaining your investment and doing the right thing.

I think there is a little misconception here, if I'm to get  @ Umulala-alala correctly I think what he's actually trying to say is that after a new investor have set up his discretionary funds that he should at least throw some money in his emergency funds so that to avoid messing up with his Bitcoin investment in the short term which he decided to use gambling instead of (short term) so therefore I think this is what @Umulala-alala is trying to emphasize on. And yeah throwing some amount of money in our Bitcoin investment at the starting point is also a nice initiative as we are almost sure that nothing is going to jeopardize our Bitcoin investment in that first month that we make our entry.

[SPIDERMAN008]

You are saying this in a misleading way.

Everyone needs some back up funds, yet they do not need to build up their back up funds to high levels before starting to invest in bitcoin, yet if they start investing in bitcoin and they have no back up funds, then they are engaging in bad practices that involve gambling with their bitcoin.

Sure in the very beginning the size of their back up funds might not need to be a lot, since they may well build their bitcoin and their emergency funds at about the same pace, and I don't even have a problem building the bitcoin faster than the emergency funds, even though there is some risk in that, yet I do have a problem with the idea that your bitcoin investment can be safe if you have no back up funds... whether you are paid daily, weekly monthly or some other frequency, when you have a bitcoin investment, there is a need to protect it so that you do not tap into it (even if it is profitable), so you have to have some funds to fall upon if you have some extra expenses and/or some loss of income.

It is correct to say that we do not want to delay starting our bitcoin investment based on our not having back up funds, yet if we have absolutely no extra money, then it is questionable if we even have discretionary income, since our investment in bitcoin comes from discretionary income, not from money we need for expenses... so if we are coming to wrong calculations about whether we have discretionary income, we are being too rash and sloppy in our approach to bitcoin investing.

You are absolutely right. Investing in Bitcoin without an emergency fund is actually very risky. Because no one can say exactly when and where the money will be needed on an emergency . And if there is a backup fund, there is no fear of panic even if the price of Bitcoin fluctuates because he does not have to sell it when the price of Bitcoin is low. Many people think that after starting to invest in Bitcoin, he will form a backup fund at some point. It turns out that he has been investing in Bitcoin every week for a year. He has not had any emergency and has not needed a backup fund. Then he is even more discouraged from forming a backup fund. But when he suddenly needs an emergency fund due to a big problem, he will be forced to sell Bitcoin because he cannot raise that money. That is why the importance of an emergency fund is so great. To adapt to the fluctuations in the price of Bitcoin, it is very important to have financial security and be mentally strong. As a result, even if the market falls, we will not have to panic and sell Bitcoin and we can continue to invest for a long time.

[ZeroVinsonN]

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.

I think what you are trying to explain is reserved fund and not backup fund since reserve fund is what's used to sometimes buy bitcoin especially during dips when an investor wants to increase his holdings by buying bitcoin at a cheaper rate and yes reserve fund is a form of backup fund but so is emergency fund as well they are both part of the same system but serving slightly different functions although depending on availability one can serve the purpose of the other.
You are entitled to your opinion on the matter as I am entitled to mine and this is my opinion on the matter.

I disagree with you, reserve funds should not be used to buy Bitcoin whether Dip or not rather the funds that should be used to purchase Bitcoin is discretionary income so using reserve funds to purchase Bitcoin I think it is wrong  that is why our discretionary income should be given the top most priority by growing it so Incase there is Dip, you can take advantage. Whether availability or not no funds should be used for another because discretionary income can not be used to solve emergency problem.

Your reserve fund is gotten from your discretionary income so there is absolutely nothing wrong with investing in bitcoin with it, in fact that's it's main purpose for a bitcoin investor, if we shouldn't invest with our reserve fund then what's it's purpose, there will be absolutely no reason to keep money in reserve when you can not use it to buy bitcoin more aggressively when the time to do so presents itself to you and it would be pointless to spend time gathering up money for reserve.

[Obulis]

DCA is a long term Bitcoin accumulation strategy,therefore any investor that is accumulating Bitcoin through DCA is investing for the long term. Basically, Buying and selling of Bitcoin by traders is never a good investment strategy in Bitcoin. However, there is nothing like short term investment plan in Bitcoin, there are no shortcuts in Bitcoin,if you're not Hodling Bitcoin for the long term,then you're not investing at all. Trading is absolutely not an investment,you re simply gambling with your Bitcoin stash for quick profits,any wrong moves would result to losing your Bitcoin stash. How then is that profitable when you lose more what you gain, absolutely not.

Yes, you are right. There is no shortcut in investing in Bitcoin. Most of the newbies start trading using their savings without understanding the investment. As a result, they lose money again and again. Newbies invest in their short term without understanding. As soon as they see a small profit, they withdraw their money. After that, they reinvest their capital. But later when the market falls, they get scared and sell before the market recovers and face losses. Therefore, we all need to invest according to our ability and not gamble with our investment money.

The quick gains or shortcut mindset which results from impatience and the losses that usually follow has caused a lot of discouragement to newbies. This makes some unable to see the potential in Satoshi, some manage to see their mistakes and realign.
One thing I realized is that a new person into Bitcoin market is a product of the success of their information. The joy of making a big gain in a couple of say a week as they most have been told can make a newbie loss their money instead of having it strengthening.

[barisbilgili]

DCA is a long term Bitcoin accumulation strategy,therefore any investor that is accumulating Bitcoin through DCA is investing for the long term. Basically, Buying and selling of Bitcoin by traders is never a good investment strategy in Bitcoin. However, there is nothing like short term investment plan in Bitcoin, there are no shortcuts in Bitcoin,if you're not Hodling Bitcoin for the long term,then you're not investing at all. Trading is absolutely not an investment,you re simply gambling with your Bitcoin stash for quick profits,any wrong moves would result to losing your Bitcoin stash. How then is that profitable when you lose more what you gain, absolutely not.

Yes, you are right. There is no shortcut in investing in Bitcoin. Most of the newbies start trading using their savings without understanding the investment. As a result, they lose money again and again. Newbies invest in their short term without understanding. As soon as they see a small profit, they withdraw their money. After that, they reinvest their capital. But later when the market falls, they get scared and sell before the market recovers and face losses. Therefore, we all need to invest according to our ability and not gamble with our investment money.

The quick gains or shortcut mindset which results from impatience and the losses that usually follow has caused a lot of discouragement to newbies. This makes some unable to see the potential in Satoshi, some manage to see their mistakes and realign.
One thing I realized is that a new person into Bitcoin market is a product of the success of their information. The joy of making a big gain in a couple of say a week as they most have been told can make a newbie loss their money instead of having it strengthening.

There's no way to get rich quick unless we gamble, and that also carries significant risks, so it's best to forget about that and try to think realistically.

In investing nothing is guaranteed and there are often times when panic sets in, such as sharp market price corrections, However to build confidence, we must plan ahead for our Bitcoin investments, regardless of the strategy we use, Focusing on accumulation and not caring about current events is key to achieving significant future returns, Just look at 10 years ago, people who invested in Bitcoin have certainly made significant profits, so the same thing is possible in the next 10 years.

[As-Soon-As]

Thanks for this clarification, I also know that even though we don't need to have a sizeable emergency funds and backup funds it is still necessary to have them when planning to buy Bitcoin.

I don't really understand your point here about emergency funds clearly. Are you saying that it is necessary we must have them while planning to buy Bitcoin?, that is we must have been able to have emergency funds first, and back up funds and after our planning, we can now start our investment? If that's your point, then it looks like not a good investment mindset as raising emergency funds and/back up funds first during your planning days before you now eventually start up your investment journey may be a time wasting method which is not good for investors, because you may never know how long you would take to build up your emergency funds or back up funds, no matter how little you would want to raise before starting your investment.

Perhaps, emergency funds does not stop you from starting your investment, after all, you are not investing with your emergency funds but with your discretionary. We know emergency and back up funds are all very important to keep your assets for long, no doubt, but we can actually start up our investment journey without having any emergency funds or back up funds, yea, but we must begin immediately to start building them up as soon as we start our investment as your income allows you, of course, still from your discretionary income.

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

Bitcoin investment should be grasped because we must urgently need it to deal with any danger. If you keep collecting Bitcoin aggressively and cannot deal with danger, then you will face problems with your Bitcoin investment. So I say that if you want to invest in Bitcoin, it is most important to have a prudent income and an emergency fund, even if it is small. If you do not have an emergency fund, then you can face danger.

[Sticky Bomb]

So putting all or almost all the funds in your discretionary funds into buying Bitcoin is not a smart investment decision. When you build your back up funds over a period of time you can use a part of it to buy a dip if the opportunity arises, meanwhile your DCA is still running undisturbed.

Putting all your discretionary funds into buying bitcoin isn't a good cashflow management practice since you are supposed to use part of the funds to build out your emergency funds, reserve funds and even floating cash to handle little expenses that comes up. It is important that we do not get over aggressive in buying bitcoin even if we are interested in reaching our accumulation targets faster. Such actions would ensure there is no backup funds left for the investor to fall back to in case of any scenario that needs instant remedying and put the investor's portfolio at risk of being tampered at a time that is not of their own choosing.

The only exception to this is if the investor already has good backup funds set aside prior to his getting involved into bitcoin or the investor in question is a dependent and has backup from their host in the case of uncertainties, then they can go all in with the discretionary income that is identified from their periodic incomes.

[ruykeri]

You made a solid point, NewRevelation. Many people especially those that are just beginning confuse short-term trading with quick success, not realizing that it demands high skill and emotional control. However, I think both trading and long-term holding can work if approached with discipline and a clear plan. The real problem begins when someone trades without understanding market behavior or without setting limits for loss and profit.
Long-term holding gives peace of mind, but short-term trading, when done carefully, can also help investors take advantage of volatility. The advice is to focus on consistency, risk management, and not letting emotions decide when to buy or sell.

The biggest misconception is to consider trading and investing as one. However, despite high skills and mental control, most of them lose money in Bitcoin trading. Or even if they make a profit, it is not even close to the amount of profit that would have been made in long-term investment. Those who trade are distracted by the busyness of looking at charts and make wrong decisions most of the time. Those who are doing DCA regularly leave traders one and a half behind in all aspects. In the case of long-term investment, they take the market fluctuations as an opportunity. And they can buy Bitcoin at the average price. Overall, I don't think of trading as anything other than gambling.

[Barikui1]

Invest in Bitcoin is easy but the biggest obstacle to holding it for the long term is selling it immediately due to fear or lack of knowledge.

Truly getting involved is quite easy, but stay long without selling is where difficulties are.
Then talking about your statement, fear or lack of knowledge is not the biggest obstacle in your ability to not hold strong, in my own opinion, the biggest obstacle for any Bitcoin investor not being able to hold strong is the inability to put down measures to safe guard his investment, like putting emergency and reserve funds in place, so that no emergency situation will force you to sell prematurely either, because even though you have the will to hold without selling, if you have no emergency and reserve funds in place to safe guard your Bitcoin investment, once any emergency situation arise, you will be forced to sell prematurely, so emergency and reserve funds is very important in your ability to hold very strong into the future.

[Umulala-alala]

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

You seems to have another plan while investing in Bitcoin and to tell you truth you will be deceiving yourself to think you can be investing with the plan of gambling your Bitcoin I mean how and why will you even do that? It has been stated countless time that gambling or trading our Bitcoin is not the best way to go about Bitcoin because whether you like it or not you definitely sell in loss because the price will not go as you wish or planned it. No matter how small someone start it doesn't really matter, what matters is sustaining your investment and doing the right thing.

It could be that you quoted the wrong person or you didn't understand everything i said, i never talked about gambling in bitcoin to be good rather i was against gambling in bitcoin that it could be gambling if you got started with your BTC investment without having at least little of an emergency fund, maybe you should read again @Showlove01.

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

What is most important to get started with our bitcoin investment should be our discretionary income, but at least you should have little of emergency fund, you can actually be gambling with your bitcoin investment if you get started with out having some little emergency fund and slowly be increasing it while you are buying bitcoin.

You seems to have another plan while investing in Bitcoin and to tell you truth you will be deceiving yourself to think you can be investing with the plan of gambling your Bitcoin I mean how and why will you even do that? It has been stated countless time that gambling or trading our Bitcoin is not the best way to go about Bitcoin because whether you like it or not you definitely sell in loss because the price will not go as you wish or planned it. No matter how small someone start it doesn't really matter, what matters is sustaining your investment and doing the right thing.

I think there is a little misconception here, if I'm to get  @ Umulala-alala correctly I think what he's actually trying to say is that after a new investor have set up his discretionary funds that he should at least throw some money in his emergency funds so that to avoid messing up with his Bitcoin investment in the short term which he decided to use gambling instead of (short term) so therefore I think this is what @Umulala-alala is trying to emphasize on. And yeah throwing some amount of money in our Bitcoin investment at the starting point is also a nice initiative as we are almost sure that nothing is going to jeopardize our Bitcoin investment in that first month that we make our entry.

It's not a little misconception it's a very big one at that, that was an off topic post made by Showlove01, it could be he wanted to quote some one else and mistakenly hit it up to me and never went to read back after posting it or an act of misunderstanding or was properly high with some bottles of beer 🍻.

[Qhunman]

Thanks for this clarification, I also know that even though we don't need to have a sizeable emergency funds and backup funds it is still necessary to have them when planning to buy Bitcoin.

I don't really understand your point here about emergency funds clearly. Are you saying that it is necessary we must have them while planning to buy Bitcoin?, that is we must have been able to have emergency funds first, and back up funds and after our planning, we can now start our investment? If that's your point, then it looks like not a good investment mindset as raising emergency funds and/back up funds first during your planning days before you now eventually start up your investment journey may be a time wasting method which is not good for investors, because you may never know how long you would take to build up your emergency funds or back up funds, no matter how little you would want to raise before starting your investment.

Perhaps, emergency funds does not stop you from starting your investment, after all, you are not investing with your emergency funds but with your discretionary. We know emergency and back up funds are all very important to keep your assets for long, no doubt, but we can actually start up our investment journey without having any emergency funds or back up funds, yea, but we must begin immediately to start building them up as soon as we start our investment as your income allows you, of course, still from your discretionary income.

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

Bitcoin investment should be grasped because we must urgently need it to deal with any danger. If you keep collecting Bitcoin aggressively and cannot deal with danger, then you will face problems with your Bitcoin investment. So I say that if you want to invest in Bitcoin, it is most important to have a prudent income and an emergency fund, even if it is small. If you do not have an emergency fund, then you can face danger.

You are wrong As-Soon-As, you do not need your Bitcoin investment to deal with any danger, rather it is the primarily function of an Emergency funds to deal with any danger that threatens your Bitcoin investment. You do not need to have a large Emergency funds from a start before getting started.  It is all bad accumulating Bitcoin without having a Emergency and reserve funds to safeguard your bitcoin. It is ok if you buildup your bitcoin investment at the same time with your backup funds. Once you have an emergency funds and reserve funds put in place,you won't tamper with your Bitcoin if any danger arises in the future.

[sotelorene]

Thanks for this clarification, I also know that even though we don't need to have a sizeable emergency funds and backup funds it is still necessary to have them when planning to buy Bitcoin.

I don't really understand your point here about emergency funds clearly. Are you saying that it is necessary we must have them while planning to buy Bitcoin?, that is we must have been able to have emergency funds first, and back up funds and after our planning, we can now start our investment? If that's your point, then it looks like not a good investment mindset as raising emergency funds and/back up funds first during your planning days before you now eventually start up your investment journey may be a time wasting method which is not good for investors, because you may never know how long you would take to build up your emergency funds or back up funds, no matter how little you would want to raise before starting your investment.

Perhaps, emergency funds does not stop you from starting your investment, after all, you are not investing with your emergency funds but with your discretionary. We know emergency and back up funds are all very important to keep your assets for long, no doubt, but we can actually start up our investment journey without having any emergency funds or back up funds, yea, but we must begin immediately to start building them up as soon as we start our investment as your income allows you, of course, still from your discretionary income.

So, to say that it is necessary to have emergency and back up funds when plannimng to buy Bitcoin(that's you are just planning, but not started yet) makes it sound like, we must first have emergency and back funds before we can ever venture into Bitcoin investment and it's a wrong mindset. Emergency funds and back funds are important in the journey, yea, but it's not compulsory that we must have it first before we can start. We can start our investment without them, but must build them along the line because they are very important.

Bitcoin investment should be grasped because we must urgently need it to deal with any danger. If you keep collecting Bitcoin aggressively and cannot deal with danger, then you will face problems with your Bitcoin investment. So I say that if you want to invest in Bitcoin, it is most important to have a prudent income and an emergency fund, even if it is small. If you do not have an emergency fund, then you can face danger.

I don't think the reason we invest or chose to invest in Bitcoin was to deal with danger and if I may ask what danger are you referring to? Danger that will come or happen in 4-10 years time? This will be very crazy if that is what you have in your mind and I will advise you take it off and just accumulate your Bitcoin using what you can afford to use. Don't try to confuse newbie with your words dude, what are you referring to as prudent Income I mean is there any income that is not prudent lol. Why not just use the word discretionary income so that newbie will understand what you are saying because what we need in our investment is discretionary income and emergency funds.

[Taskford]

You made a solid point, NewRevelation. Many people especially those that are just beginning confuse short-term trading with quick success, not realizing that it demands high skill and emotional control. However, I think both trading and long-term holding can work if approached with discipline and a clear plan. The real problem begins when someone trades without understanding market behavior or without setting limits for loss and profit.
Long-term holding gives peace of mind, but short-term trading, when done carefully, can also help investors take advantage of volatility. The advice is to focus on consistency, risk management, and not letting emotions decide when to buy or sell.

The biggest misconception is to consider trading and investing as one. However, despite high skills and mental control, most of them lose money in Bitcoin trading. Or even if they make a profit, it is not even close to the amount of profit that would have been made in long-term investment. Those who trade are distracted by the busyness of looking at charts and make wrong decisions most of the time. Those who are doing DCA regularly leave traders one and a half behind in all aspects. In the case of long-term investment, they take the market fluctuations as an opportunity. And they can buy Bitcoin at the average price. Overall, I don't think of trading as anything other than gambling.

They are related but their fundamentals is different.

Traders usually aim for quick profit and we know its really hard to deal with volatile market since market is unpredictable so every possession is stressful. This is what they need to deal everyday and they are prone to commit mistake then lose everything they earned for that day.

Long term investors usually had long term focus since usually what we aim here is to built our portfolio for more years or decades.

Also I always see this as best option to choose especially that people doing this especially dealing Bitcoin with DCA give them less stress because we won't worry much about those daily volatile movements of Bitcoin

 

[Marvelockg]

Invest in Bitcoin is easy but the biggest obstacle to holding it for the long term is selling it immediately due to fear or lack of knowledge.

Truly getting involved is quite easy, but stay long without selling is where difficulties are.

I have always believed the people that find it difficult to hold their investment for the long term are people that do not have a good source of income that can sustain them throughout the period of their investment. if for instance you have an alternative stream of income that can sustain you such that you don't need to bother about your investment whatsoever, staying invested for the long term will not be a so difficult task to accomplish.

As much as you are investing, also make it a priority to also face your hustle as though you are not investing in the first place. it should normally get to a point where you are not concerned about the price but only focus on how you can get more chunk of bitcoin. once you are able to get to that point, then you have succeeded in solving the major part of the problem that is associated with staying invested for the long term.