Buy Buy Buy or Sell Sell Sell?

[gracreavix]

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.

Investing in any platform requires a lot of money and it is also a matter of thinking about what the results will be after the investment. However, to invest in Bitcoin, you first have to calculate your income and expenses. After meeting the basic needs of the family, an emergency fund becomes necessary. It is wisest to save money in this fund for three to six months. So that in case of any sudden danger in the course of life, it can be made up with an emergency fund. Then there is no pressure on the main investment.

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

[Barikui1]

This isn't about stressing yourself to get a different source of income just get a stable job with a decent pay then you're good to go

With the way you are going about it, you are making it looks like having a stable income is a guarantee for an individual to invest in Bitcoin, but that's not the truth, what an individual needs in other to accumulate and invest in Bitcoin on a consistent basis is a discretionary income, not a stable source of income as you are saying, because their are so many guys out there that have a stable source of income but still can't figure out their discretionary income, so if you can figure out your discretionary income from your income no matter how small it is, you are good to go, not by having a stable source of income.

[Gost ms]

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

[Xcode7]

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

Panic is a natural feeling, almost all investors experience this but no action is taken to disrupt their existing investments, Perhaps just a slight sense of disappointment due to market price corrections.

Investing with discretionary income I believe is the most effective way to avoid anything, There's no excessive fear of anything happening because we understand the risks of investing in Bitcoin and have high confidence in the future, However the money we use to invest will have a significant impact.

Regarding emergency funds, everyone will have different preferences for how they use them and how comfortable they are with them, This is important and necessary, I won't comment on the different incomes used for emergency funds, I think they're all valid.

[Qhunman]

Let's not be deceived, folks may have one or even multiple income source, but then still find it very difficult to extract their discretionary income due to maybe reckless spending or poor cash flow management etc. That is why what is needed for Bitcoin investments isnt just the amount of income source that folks has, but  whether they are able to realize their discretionary income afterwards, and also them having the knowledge of Bitcoin being a volatile assets. In order not to waste precious time, once this two basic knowledge are attained then already it is already a greenlight to start investing, while attaining knowledge of other things while already investing.

I think that before investing in Bitcoin, people need to have a saving mindset before looking for multiple sources of income. There are some who have very little income but try to complete all their tasks from that income, while others are not able to save even though they have a lot of income. A far-reaching mindset can inspire a person to save a lot despite their limited income. Whose income is very limited will not be suitable for investing in Bitcoin. Because they need to have discretionary income. Only those who have multiple sources of income are able to adopt the most effective investment decisions

You are sounding as if people with limited Incomes can't succeed in Bitcoin, which is untrue. People Income no matter how little it is doesn't matter, what is important is that they can figure out a Discretional income weekly or monthly to buy Bitcoin. For instance, someone that buys Bitcoin with his Discretional income for as low as $10 every week for 10 Years can accumulate large stashes of Bitcoin in the longer run. Multiple sources of income is not a guarantee that any persons that has it will be consistent in accumulating Bitcoin. There are people that has multiple income sources but still finds it difficult in figuring a Discretional income to buy Bitcoin due to  poor money Managements and excessive spendings.

[Finebone]

You are sounding as if people with limited Incomes can't succeed in Bitcoin, which is untrue. People Income no matter how little it is doesn't matter, what is important is that they can figure out a Discretional income weekly or monthly to buy Bitcoin. For instance, someone that buys Bitcoin with his Discretional income for as low as $10 every week for 10 Years can accumulate large stashes of Bitcoin in the longer run. Multiple sources of income is not a guarantee that any persons that has it will be consistent in accumulating Bitcoin. There are people that has multiple income sources but still finds it difficult in figuring a Discretional income to buy Bitcoin due to  poor money Managements and excessive spendings.

You were spot on here mate, having large income or having multiple streams of income doesn't guarantees an individual having a discretionary income because poor money management skills is what makes someone that earns so much struggle to have a discretionary income after all his basic needs have been met.
Additionally, the key to every successful Bitcoin investors is a good money management skills and knowledge in putting the right measures like emergency and reserve funds in place that will protect your Bitcoin holdings in case of any real life emergency situation, not by earning much but knows little or nothing on how to manage it.

[EarnOnVictor]

You are sounding as if people with limited Incomes can't succeed in Bitcoin, which is untrue. People Income no matter how little it is doesn't matter, what is important is that they can figure out a Discretional income weekly or monthly to buy Bitcoin. For instance, someone that buys Bitcoin with his Discretional income for as low as $10 every week for 10 Years can accumulate large stashes of Bitcoin in the longer run. Multiple sources of income is not a guarantee that any persons that has it will be consistent in accumulating Bitcoin. There are people that has multiple income sources but still finds it difficult in figuring a Discretional income to buy Bitcoin due to  poor money Managements and excessive spendings.

You were spot on here mate, having large income or having multiple streams of income doesn't guarantees an individual having a discretionary income because poor money management skills is what makes someone that earns so much struggle to have a discretionary income after all his basic needs have been met.

You have a point, and I've tried to make it clear many times in the past. If care is not taken, some people will not invest or do anything good for themselves. It depends on how purposeful, planned and conservative they are. Earning more doesn't guarantee you to use it well or secure the future like your colleagues or even someone who earns less than you, but who planned better for their future.

It's all about planning, management and focus/discipline. This is why I laugh when some people talk about funds like the discretionary kind. Even if someone earns more, what if the taste is high, or they like to live a frivolous lifestyle, to the point that they can't even save, let alone earmark some funds for investment, or into good use?

[Gallar]

So I think investing is much safer, and yes, I don't need to watch the news, watch the market, or monitor new coins,

It's true that investment in Bitcoin is more safer but it's also have it own risk, even though it's not like trading.
Additionally, with your statement of monitoring new coins, it seems like you love gambling or f****ing around with shit coin, but my candid advice to you is that, do not forget that shit coin falls more than they rise, so gambling with only 2% of your discretionary income on them if you are hell bent on gambling with them, but you should focus more on Bitcoin since it's the real deal.

For now, I've completely avoided junk coins. I once dived into them and got nothing but emptiness and regret. So, for now, I'm really focused on my current Bitcoin investment. It really keeps me sane. If you've never dived into junk coin trading, I suggest you don't. If you dive into junk coins, I guarantee you'll be a little crazy, my friend. That's why I don't want to repeat the same mistake. Although I like to start with relatively small amounts, if I keep depositing into the exchange because I keep losing, the amount can become very large. That's why I currently only invest in Bitcoin.

Because when I was trading junk coins, I really didn't have time for anything else, so I thought it was a stupid behavior that I now laugh at myself. So, the point is, even if we use 2% of our discretionary funds to buy junk coins, I won't do it because, frankly, I really care about my money, even if it's 2%. So I'd rather use that 2% of my money for other more useful things, or add it to my Bitcoin DCA fund.

[jems]

So I think investing is much safer, and yes, I don't need to watch the news, watch the market, or monitor new coins,

It's true that investment in Bitcoin is more safer but it's also have it own risk, even though it's not like trading.
Additionally, with your statement of monitoring new coins, it seems like you love gambling or f****ing around with shit coin, but my candid advice to you is that, do not forget that shit coin falls more than they rise, so gambling with only 2% of your discretionary income on them if you are hell bent on gambling with them, but you should focus more on Bitcoin since it's the real deal.

For now, I've completely avoided junk coins. I once dived into them and got nothing but emptiness and regret. So, for now, I'm really focused on my current Bitcoin investment. It really keeps me sane. If you've never dived into junk coin trading, I suggest you don't. If you dive into junk coins, I guarantee you'll be a little crazy, my friend. That's why I don't want to repeat the same mistake. Although I like to start with relatively small amounts, if I keep depositing into the exchange because I keep losing, the amount can become very large. That's why I currently only invest in Bitcoin.

Because when I was trading junk coins, I really didn't have time for anything else, so I thought it was a stupid behavior that I now laugh at myself. So, the point is, even if we use 2% of our discretionary funds to buy junk coins, I won't do it because, frankly, I really care about my money, even if it's 2%. So I'd rather use that 2% of my money for other more useful things, or add it to my Bitcoin DCA fund.

That was a very good decision, Uncontrollable emotions when trying meme coins will have a negative impact in the future, so it's better to avoid them and focus on accumulating Bitcoin.

I even allocate all my discretionary income to accumulating Bitcoin, I do this to avoid the temptation to make mistakes with junk coins. As for Bitcoin investment, I think none of us here doubt it especially for long-term investment so it's a sure thing, So it's better to do what's certain for the future profits.

[sotelorene]

This isn't about stressing yourself to get a different source of income just get a stable job with a decent pay then you're good to go

With the way you are going about it, you are making it looks like having a stable income is a guarantee for an individual to invest in Bitcoin, but that's not the truth, what an individual needs in other to accumulate and invest in Bitcoin on a consistent basis is a discretionary income, not a stable source of income as you are saying, because their are so many guys out there that have a stable source of income but still can't figure out their discretionary income, so if you can figure out your discretionary income from your income no matter how small it is, you are good to go, not by having a stable source of income.

You both are correct in different ways because Income must be there before we can think or get a discretionary income because without an Income there won't be any discretionary income even though some folks don't invest even having an income. Stable source of income can be valuable and recognize if only folks that has it, is able to get their discretionary income from there and any folks that is able to do this will definitely do better than someone without a stable source of income that is if both Income are of same range or slightly different but on the other hand if you have a stable source of income but you can not get a discretionary income from it then it is a total waste.

[Agbam]

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.

As a senior member your point is just flying here and there and it’s not making sense to me.
 From what I’ve read and understood what is required for bitcoin investment is just your discretionary income, with this you can effectively buy bitcoin and build your reserves and emergency funds.

And you seem to be having this idea of selling off your bitcoin when you have need for money instead of selling when you have reached your goal or have made enough profits. The essence of building emergency and reserve funds is so you don’t sell off your bitcoin too soon or at a loss when there’s a need for money.

[coinrifft]

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.

Investing in any platform requires a lot of money and it is also a matter of thinking about what the results will be after the investment. However, to invest in Bitcoin, you first have to calculate your income and expenses. After meeting the basic needs of the family, an emergency fund becomes necessary. It is wisest to save money in this fund for three to six months. So that in case of any sudden danger in the course of life, it can be made up with an emergency fund. Then there is no pressure on the main investment.

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

I don't know but I will have to disagree here. Yes you might need a job first so that you can sustain everything. But after that you don't need to correct your and think about safety net or something. You really just have to jump on the gone, specially that almost all Bitcoin have been mined. So for me, the earlier the better because if you keep on thinking that you need to be stable first before investing in Bitcoin, then it might be too late and then you might reason out that it's very expensive and that you can't buy and invest on it anymore. You can just start very small right now and that's what I'm going to do starting next week. DCA my way slowly and surely and start stacking sats.

[Alonso_]

You should aspire to get your emergency funds up to 3 months of your expenses.  You do not need to establish such level of emergency funds before starting to invest in bitcoin.  When you invest in bitcoin, it is good to get started as soon as you determine that you have discretionary funds - yet at the same time, you likely need to have some back up funds, and many people will already be in a practice of maintaining back up funds, yet you can build the level of your bitcoin investment and your back up funds at the same time, and you can choose to prioritize the building of one greater than the other or you can grow them at the same rate. You need to consider what will make you comfortable, and if you end up messing up because you either don't have any emergency funds or that you invest in bitcoin too slowly.. those are your own challenges to figure out those kinds of details related to your personal circumstances... and surely sometimes your personal circumstance will change at various points along the way too... sometimes it might be better to get a second job and other times it would be better to utilize whatever resources that you have more efficiently including making sure that you are spending within your discretionary income and making sure that you are building up enough back up funds while you are building up your bitcoin investment size, too.

You’re right it makes good sense for us to invest and also make endeavors in buying and accumulating bitcoin, and also having at the back of our mind to also have a emergency funds when necessary, we do not need to start our emergency funds immediately, but it’s more important to start our emergency fund months into our investment, when I started investing in bitcoin it wasn’t really mandatory that I should start having emergency funds immediately, but I had to wait for until 3 months before I started having my emergency funds and reserved funds, but sometimes because of the amount of income that we have available, we e can consider different circumstances that might actually affect our financial situation and then consider buying more bitcoin into our portfolio, because I have to be comfortable with building my emergency fund immediately or I have to wait for 3 months intervals, depending with what I’m comfortable with adopting for the betterment of achieving my goals of building a long term bitcoin investment.

[Fuso.hp]

Yes one should have a permanent income source and then you will have a peace of mind when you think of the Investments in bitcoin. Without a permanent income it is very hard for you or for anyone to get investments in Bitcoin.

The reason is that you should not take out the Bitcoin investments, sell them to meet your everyday needs or to meet any emergency need. Bitcoin investment should be like that you invest and then forget it for few years to get the maximum returns on the investment. You know that you do not have any financial problem and you don't have any emergency to cash it out on immediate basis.

Investing with the future in mind is always a good decision, but first you have to make sure from your own position that there is some money left after meeting all your needs and if there is some money left, then only then can you plan for investment. Now if while investing, there is a problem in paying the tuition fees of the child, there is a problem in bearing the medical expenses of the parents or there are financial problems in living, then at that time the investment is not really necessary, rather the person can work harder or try to earn money if he wants.
When he finds a source of income that is more than his current income, then he can invest it in Bitcoin even if it is a relatively small amount and this can be a good support for him.

[Zackz5000]

You should aspire to get your emergency funds up to 3 months of your expenses.  You do not need to establish such level of emergency funds before starting to invest in bitcoin.  When you invest in bitcoin, it is good to get started as soon as you determine that you have discretionary funds - yet at the same time, you likely need to have some back up funds, and many people will already be in a practice of maintaining back up funds, yet you can build the level of your bitcoin investment and your back up funds at the same time, and you can choose to prioritize the building of one greater than the other or you can grow them at the same rate. You need to consider what will make you comfortable, and if you end up messing up because you either don't have any emergency funds or that you invest in bitcoin too slowly.. those are your own challenges to figure out those kinds of details related to your personal circumstances... and surely sometimes your personal circumstance will change at various points along the way too... sometimes it might be better to get a second job and other times it would be better to utilize whatever resources that you have more efficiently including making sure that you are spending within your discretionary income and making sure that you are building up enough back up funds while you are building up your bitcoin investment size, too.

You’re right it makes good sense for us to invest and also make endeavors in buying and accumulating bitcoin, and also having at the back of our mind to also have a emergency funds when necessary, we do not need to start our emergency funds immediately, but it’s more important to start our emergency fund months into our investment, when I started investing in bitcoin it wasn’t really mandatory that I should start having emergency funds immediately, but I had to wait for until 3 months before I started having my emergency funds and reserved funds, but sometimes because of the amount of income that we have available, we e can consider different circumstances that might actually affect our financial situation and then consider buying more bitcoin into our portfolio, because I have to be comfortable with building my emergency fund immediately or I have to wait for 3 months intervals, depending with what I’m comfortable with adopting for the betterment of achieving my goals of building a long term bitcoin investment.

It's not good we have our emergency fund months or 3 after we have got started with our Bitcoin investment, you might be exposing your investment to danger, you can sell the little you have accumulated in a short period of time if real emergency caught you up, so i inform you if you have figured out your discretionary income it's a guarantee you can get started with your Bitcoin investment but you should also try to gather up small emergency fund incase some thing unforseen came up and you are still 2 months in your investment you can still sort it out instead of waiting for 3 months before setting up your emergency fund. It is gamblers that starts up without any plan of having an emergency fund.

[SmartCharpa]

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

We need to know this before we start any investment. Emergency funds is not necessary for an investor to start an investment, you can build your emergency funds along the way while building your investment. The best thing that an investor needs before beginning an investment is discretionary income, which is the money left over after paying for other expenses, regardless of your income.

Sure, this makes it easier for everyone to invest when they can set aside a discretionary income, because it is not meant to be saved for an emergency, because it is money that you put down to invest gradually according to your plan. We save an emergency fund but not to touch it unless there is an emergency that needs us to do so, which can also be done when investing.

[taibodi]

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

We all have different opinions about emergency funds. I think emergency funds act as a great strength after investing in Bitcoin. Instead of panicking in the face of unexpected financial disasters, we gain peace of mind and strength by saving instead of selling our Bitcoin holdings. Whether a Bitcoin investor is new or old, he is the one who is calm and confident without panicking in the face of a decline. Bitcoin has not ruined anyone, it has made him win even if it is late, this is the real truth.

[Bigjoe33]

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

We all have different opinions about emergency funds. I think emergency funds act as a great strength after investing in Bitcoin. Instead of panicking in the face of unexpected financial disasters, we gain peace of mind and strength by saving instead of selling our Bitcoin holdings. Whether a Bitcoin investor is new or old, he is the one who is calm and confident without panicking in the face of a decline. Bitcoin has not ruined anyone, it has made him win even if it is late, this is the real truth.

It is called ''Emergency funds'', meaning it solves ''Emergencies'', or shows up when there is an emergency, financial emergency to be precise. So folks who understands the role of emergency funds wouldn't play with it as naturally, life would throw emergencies, and an emergency funds been readily available and also accessible at as when needed steps in to solve the problem, and by this, helps you to Hodl your BTC much more longer because you wouldn't be considering tapping from your Holdings to solve the problem since your emergency funds has done the job.

While continuing our investment, we must consciously and consistently build up our emergency funds simultaneously. Not having a clear understanding about your emergency funds might affect your zealousness in building it up, and a failure to build it simply means your investment is doomed, because surely, when emergency shows up, you would be tempted to tap from your assets, and gradually, you will loose your investments

[ruykeri]

You are sounding as if people with limited Incomes can't succeed in Bitcoin, which is untrue. People Income no matter how little it is doesn't matter, what is important is that they can figure out a Discretional income weekly or monthly to buy Bitcoin. For instance, someone that buys Bitcoin with his Discretional income for as low as $10 every week for 10 Years can accumulate large stashes of Bitcoin in the longer run. Multiple sources of income is not a guarantee that any persons that has it will be consistent in accumulating Bitcoin. There are people that has multiple income sources but still finds it difficult in figuring a Discretional income to buy Bitcoin due to  poor money Managements and excessive spendings.

Your logic is correct, but if you think about it in reality, it is different. A person can invest in Bitcoin with any amount they want. However, if someone has only $10 in discretionary income, then there is no guarantee that this $10 will last them after all expenses in every week . Because it turns out that in a week he has to buy medicine for an illness, or donate money for a social activity, or give a gift for a friend's wedding or anniversary. That is why investing in Bitcoin with such a small or unstable cash flow is a bit of a problem. Because then in small financial problems, they may have to use their emergency fund or reserve fund frequently. And in large financial problems, their Bitcoin holdings may be at risk. Over all, one should have a sustainable income and  should focus on how safely he can invest for a long time. If you cannot hold an investment for a long time, then you should think carefully before starting. However, if someone is not mentally prepared at first, then he can start investing with less money for the purpose of experimenting.

[JayJuanGee]

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.

Investing in any platform requires a lot of money and it is also a matter of thinking about what the results will be after the investment. However, to invest in Bitcoin, you first have to calculate your income and expenses. After meeting the basic needs of the family, an emergency fund becomes necessary. It is wisest to save money in this fund for three to six months. So that in case of any sudden danger in the course of life, it can be made up with an emergency fund. Then there is no pressure on the main investment.

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

There is nothing wrong with trying to be organized or aspiring to be organized prior to getting started investing in bitcoin, yet it is not necessary to set various abstract perfection standards prior to getting started investing into bitcoin.

Think about any particular person, and some have messed up finances and others are very organized, yet it seems to me that they can fix their finances while they are investing in bitcoin, since with bitcoin one of the most important things is to get started, even if the amounts are small. 

To get started investing in bitcoin all a person needs to figure out is whether he has discretionary funds or not.  In order to figure out if he has discretionary funds, all he needs is basic math skills, common sense and ability to learn. If he has those skills then he can figure out his starting out position size, whether it is going to be $100 or $10 or some other amount. 

If his circumstances are so unorganized and messy that he is not able to figure out whether he has discretionary funds, then surely he has to figure out that portion first, since he should not be investing in bitcoin using funds that are needed for his expenses...

In other words, most likely the more screwed up a person's finances, then the more difficult it would be to figure out if he really has discretionary funds available... So there is some truth that organizing finances is important, but it is not as important as getting started, especially if a person can determine that he has discretionary funds.  He can organize his finances after he has already gotten started investing in bitcoin.

Don't get me wrong.  Any person who wants to invest aggressively in bitcoin or wants to continue to invest and hold his bitcoin is likely going to need to strengthen his cashflow management and his financial skills, but he does not need to have those matters in order prior to getting started investing in bitcoin as long as he is able to determine that he has discretionary funds, and he determines that through basic math skills and common sense. I am going to presume that more than 95% of normies have common sense and if they have common sense they can determine if they have basic math skills and if they have basic math skills they can determine that they have discretionary funds.  If they are wrong and they fuck it up, then that is on them, but that still does not mean that they should not get started as soon as possible and not wait for some level of higher perfection before getting started.

In regards to emergency funds and/or back up funds.  Of course, there needs to be some back up funds when a person gets started investing in bitcoin, since if there are no back up funds, then a person cannot be assured that he is investing in bitcoin with discretionary funds since the money might be needed for expenses.. .. So back up funds are always needed to make sure that a person is not investing beyond his discretionary funds. 

At the same time, a person does not need a lot of back up funds in order to get started, and perhaps a ballpark idea would be to grow the bitcoin and the back up funds at a similar rate - yet a person has to figure out based on his own cashflow situation. If he has regular income coming in, then he might not need to keep as much back up funds as compared with someone who has irregular income and/or irregular expenses.  The more irregular a person's cashflow, then the more back up funds he is going to have to have and the more challenging that it might be for him to determine that he has discretionary income to invest in bitcoin. 

Frequently with bitcoin investing, we would consider that the funds are going to get locked up for 4-10 years or longer, yet a person just getting started in bitcoin might not want to commit to locking his funds up 4-10 years or longer in bitcoin, so he might be nervous about locking up his funds up for that long.. and sure he can still get started investing in bitcoin, yet he surely might not have a true investor's mindset if he is not ready to consider that he is locking his funds up for 4-10 years or more when he is putting them into bitcoin.   It can take a while for a person to become comfortable with bitcoin, and even though many of us consider that it is good to get started in bitcoin as soon as possible, some folks are going to be too nervous to get started, and they will likely have fewer options in the future based on their choice to either not get started or to get a to a point of comfortableness in terms of whether they are starting to invest $100 per week into bitcoin or $10 per week or some other quantity.  They can adjust the size of their investment into bitcoin based on their level of conviction and their level of conviction might not be high in their earliest years of investing into bitcoin.

True, before jumping into any form of investment, especially Bitcoin, one needs to get their financial house in order first.. I like how you mentioned the emergency fund part, that is something people overlook. Having that safety net really helps you stay calm during market dips instead of panicking and selling off.
Once that is done, it is easier to invest with a clear mind, knowing you are not risking your day to day needs. Smart and disciplined approach right there.

You may be misinformed about emergency funds. Because emergency funds never help you stay calm during a market crash or prevent you from selling when you panic. Emergency funds are basically created to protect our holdings or investments. For example, we can never tell when something will happen in our lives. If any kind of unexpected financial disaster comes in our lives, then emergency funds are created to deal with that financial disaster. So that we do not have to sell our holdings at that time, we can deal with the financial crisis with our emergency funds.

It is very natural for a new person to be scared when the market crashes. One way to not be scared when the market crashes is to build faith in Bitcoin. Because when you build faith in Bitcoin, you will not be so scared when the market crashes.

Instead of suggesting that a person invests into bitcoin based on level of faith, it might be better to suggest that a person tailor the size of his investment into bitcoin based on his level of confidence, so if a person has low confidence then he might put in $10 per while a person similarly situated financially but with more confidence might put in $100 per week and even another person with more confidence might put in $250 per week. 

There are levels of aggressiveness that relate to how organized we are, but also could relate to how high our confidence levels are.  If we have higher confidence levels we can invest into bitcoin more aggressively and if we have lower confidence levels we can adjust our amounts downwardly.  So in many situations, we might have a question of how much to invest into bitcoin rather than whether or not we invest into bitcoin, since the answer to whether we invest should be yes for everyone, even though surely a lot of people have chosen not to invest into bitcoin rather than choosing a relatively low (or whimpy)  investment size rather than completely staying out of investing into bitcoin.

You should aspire to get your emergency funds up to 3 months of your expenses.  You do not need to establish such level of emergency funds before starting to invest in bitcoin.  When you invest in bitcoin, it is good to get started as soon as you determine that you have discretionary funds - yet at the same time, you likely need to have some back up funds, and many people will already be in a practice of maintaining back up funds, yet you can build the level of your bitcoin investment and your back up funds at the same time, and you can choose to prioritize the building of one greater than the other or you can grow them at the same rate. You need to consider what will make you comfortable, and if you end up messing up because you either don't have any emergency funds or that you invest in bitcoin too slowly.. those are your own challenges to figure out those kinds of details related to your personal circumstances... and surely sometimes your personal circumstance will change at various points along the way too... sometimes it might be better to get a second job and other times it would be better to utilize whatever resources that you have more efficiently including making sure that you are spending within your discretionary income and making sure that you are building up enough back up funds while you are building up your bitcoin investment size, too.

You’re right it makes good sense for us to invest and also make endeavors in buying and accumulating bitcoin, and also having at the back of our mind to also have a emergency funds when necessary, we do not need to start our emergency funds immediately, but it’s more important to start our emergency fund months into our investment, when I started investing in bitcoin it wasn’t really mandatory that I should start having emergency funds immediately, but I had to wait for until 3 months before I started having my emergency funds and reserved funds, but sometimes because of the amount of income that we have available, we e can consider different circumstances that might actually affect our financial situation and then consider buying more bitcoin into our portfolio, because I have to be comfortable with building my emergency fund immediately or I have to wait for 3 months intervals, depending with what I’m comfortable with adopting for the betterment of achieving my goals of building a long term bitcoin investment.

Even if you don't need to have 3 months of emergency funds immediately.  You have to have some back up funds, otherwise you cannot be sure that you are actually investing into bitcoin with discretionary funds.. to assure that you are not going to need those funds later for your expenses.

So you need to have some, yet the question is how much to have as a minimum.. .and perhaps you might want to start out with at least as much in your emergency funds as you put into your initial bitcoin investment... yet the end conclusion is that each of us has to figure out and decide how much we are able to invest into bitcoin when we start and how much to keep in our back up funds.

As a default, I suggest growing the bitcoin and the back up funds at the same rate until the back up funds and the amount invested into bitcoin both equal three months of your expenses, and then after that you would be able to invest more aggressively in bitcoin, yet surely there is flexibility in how much to put into each, yet if you screw up with how much you put in each and you don't have enough back up funds or you don't put enough in bitcoin, then those are your faults, and the bigger error would be to have some cashflow situation in which your income is not enough and/or your expenses are too much and then you end up having to tap into or maybe even completely deplete your bitcoin at a time that was not of your own choosing merely because you failed/refused to have a sufficient amount of back up funds and you could have had otherwise averted such negative consequences.  There likely is no perfect answer even though there are probably better and worse ways of striking your own individual balance in accordance with your finances, psychology and other relevant personal circumstances.