Buy Buy Buy or Sell Sell Sell?

[Promocodeudo]

For me what really matters at the end is good results, it doesn't matter if you diversify or not. One can choose to diversify but with you choosing to take such decision the other investments have to be reliable as well such as bitcoin.
On the other hand if once chooses to only accumulate in bitcoin, it is not still a bad one, and your focus and money is centered in only bitcoin, whereby making you to be able to accumulate enough for yourself, of cause bitcoin is totally reliable and investing only in the coin is not a bad one, after all its your dictionary income you are using to invest that's enough risk management for me.

Yea, of course, I can't diversify just because I want to put my eggs in different unreliable stuffs called investment nah nah, as a strategist, the first thing I look out for in any investment is how trusted and reliable such investment is, am not a money monger, I won't advise anyone to do random shit just as I have said earlier, Bitcoin is a good investment digitally, if we choose to diversify, my advise is still there fir anyone to see, Bitcoin is a great investment, I won't make decision for anyone or force any to continue with it alone, as far as digital asset is concerned, I know how some persons has lost real cash all in the name of diversification, I won't want people to keep telling about diversification when they can't differentiate between reliable and unreliable investments.

[JayJuanGee]

Emergency funds should be used only for emergency situation, we have different type of backup funds and they are emergency, reserve and float funds, you can use your reserve funds to accumulate Bitcoin whenever you want especially when there is a dip in Bitcoin, but using an emergency funds to invest in Bitcoin is a no  for me, sometimes I know you may be feeling that the emergency funds is just in the bank without being used because no emergency issues has happened it is advised you don't use your emergency funds to accumulate Bitcoin just continue keeping it for the emergency funds because just like you said Muba20 an emergency can happen at any time.

Although, I would say that it depends on the kind of situation they find themselves into. Take for instance in a week I'm sure that every investors have his or her day of making purchase that's for those who are into DCA, some might buy in Monday, the other Tuesday and so on. Take for instance you only have emergency funds available let's assume you're supposed to make your routine Bitcoin purchase today, and unfortunately your weekly or monthly income was postponed to the next day when you're sure of receiving your weekly or monthly income today. you know at this point in time you're Left with no option aside from investing from your emergency funds since it's the only fund available so the question is are you going to make use of the available funds (emergency funds) or you would prefer to skip your Bitcoin purchase for the week ? To me I would make use of the available one since I have a hope of replacing it back because I wouldn't want to watch the week slide when I still have alternative, It's only bad to use emergency funds to make Bitcoin purchase when you're not sure of making replacement.

Look, we sometimes see emergency funds and think it would be a sin to touch them. However, in the real world, life is not that easy. The money life of people is forever changing. Salaries of some people are late, some people have early-night expenses, some bank transfers of people are blocked.
In this light, it is not necessarily bad to freeze an emergency fund by a day or a week. When you have confidence in yourself, and you are certain about getting the money back the next day, it is some momentary adjustment, nothing big.

You can categorize your income versus expenses however you like, and yes, every week, each of us likely has some unexpected expenses and/or some unexpected income, and so if we are practicing strong cashflow management, many times we won't even notice the fluctuations because we have 2x, 3x, 4x or even more cash available to cover those various fluctuations without our hardly even noticing it.

If for some reason we have a whole bunch of unexpected expenses and some shortages in our income, then perhaps a bunch of minor things are suddenly an emergency because our income is not enough to cover our expenses.

When we choose to purposefully deplete our extra cash down below a certain level because we are deciding to buy bitcoin with that money, then at some point we likely should realize that the mere fact that bitcoin dipped is not enough of a reason to deplete our extra cash below a certain level.. since if we deplete below a certain level, we won't be able to cover any extra expenses that come our way.

So, if we are ongoingly engaging in good cashflow management practices, we likely realize various points that we cannot go below before we are going to be putting ourselves into unnecessary stress due to potential shortages in cash and our having to tap into other funds that we have and if we don't have any other funds, then the ONLY thing that we have at that point is our bitcoin... so then we may well be tapping into our bitcoin at a time that was not at our own choosing... so yeah, there is a difference between when we spend from our extra funds due to unexpected shortages in income or increase3s in expenses that might come versus if we had depleted our extra funds based on our desire to buy the dip and then if we end up putting ourselves into an emergency situation based on our willingly spending money that was supposed to be serving as a cushion from our expenses.

However, the issue is habit. When people believe that they will give a little, then they will take it back later and then again. By so doing, there will come a day when the fund will vanish.

The fund will not vanish if you are making sure that you are not doing too many dumb things with it and if you are making sure that it does not vanish.

There can be guy.s who invest 10, 20, 30 years and they never have to touch their emergency funds because they always maintain a sufficient and adequate cushion.

We likely know many folks who are having emergencies on nearly a weekly basis, and likely the reason that they have emergencies so frequently relates to their own sloppiness in managing their cashflows, making sure that they have enough of a cushion and not doing dumb shit to put themselves in situations in which emergencies are more likely to end up happening due to their not having much if any cash cushion

It is all a matter of circumstance in my view. When you are quite certain that the money will be returned, and that it will not cause a strain on your head, then there is nothing wrong about making it roll one day.

Of course, if we know our expenses and we know our income we may well have high level of confidence that if we spend an extra $100 that can be replaced in one or two days, then we might not be putting ourselves at very much risk to merely tap into a fund for a short time, such as 1 or 2 days.

However, when you suspect that there is a bit of danger, or the money is going to be slow coming back, then you probably should not buy Bitcoin. When you do not make a purchase in a week, you will not notice a difference, but when you are in an accident with fire, no one will assist you.

Guys are surely responsible for their choices, and if they end up screwing up, they will pay the consequences.. and yeah, some guys screw up way more than others, and sometimes their level of screw up does not impact them very much, and other times the impact of the screw up might end up taking away years and years and years of progress.

We frequently see guys who built their bitcoin investment for many years, and then they let their own urges to put them into a place in which they likely will never get back to their prior level of bitcoin accumulation, and surely due to their own choices and/or sloppiness... .. some guys also think that they don't need any emergency funds, and the mere fact that they have two jobs, that is enough for them to invest into bitcoin from income from their extra job... and it seems to me that having back up funds is more important than having an extra job, even though i surely am not against guys coming up with ideas to supplement their income.. but extra income might not be enough if a person otherwise engages in sloppy and/or risky practices.

[Mehmet69]

Look, we sometimes see emergency funds and think it would be a sin to touch them. However, in the real world, life is not that easy. The money life of people is forever changing. Salaries of some people are late, some people have early-night expenses, some bank transfers of people are blocked.
In this light, it is not necessarily bad to freeze an emergency fund by a day or a week. When you have confidence in yourself, and you are certain about getting the money back the next day, it is some momentary adjustment, nothing big.
However, the issue is habit. When people believe that they will give a little, then they will take it back later and then again. By so doing, there will come a day when the fund will vanish.
It is all a matter of circumstance in my view. When you are quite certain that the money will be returned, and that it will not cause a strain on your head, then there is nothing wrong about making it roll one day. However, when you suspect that there is a bit of danger, or the money is going to be slow coming back, then you probably should not buy Bitcoin. When you do not make a purchase in a week, you will not notice a difference, but when you are in an accident with fire, no one will assist you.

You are right. I think it is better not to invest using emergency funds. We need sufficient discretionary income to invest at a certain time in the DCA method. Some people have daily income sources and some people have weekly ones. So if for some reason the financial flow is stopped for 1 day or a week, I think it is better to skip the investment for that time as well.

If we are going to lead a normal life, we need to learn how to manage money properly. Even knowing that the financial flow will be active the next day, we should not continue investing using emergency funds at that time. Emergency funds should be used only in emergency situations. Because if we continue investing using emergency funds during a skip and later think of returning that money when the financial situation is active, then that situation will also become a habit for us. And this habit will one day empty our emergency fund. So emergency funds should not be used for other purposes under any circumstances.

[ASloveapg]

For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

Emergency funds should be prepared in advance. Avoid investing all your assets in exchanges, as this will cause panic when prices drop. Emergency funds should last at least three months to avoid the risk of panic selling, or when faced with an emergency need for cash, you might sell your invested Bitcoin assets. We can't predict the market, so assets are safe if we have an emergency fund of at least 3 months' worth of funds.

The importance of an emergency fund cannot be explained, those who do not understand the importance of an emergency fund in advance, when they actually face that problem and because of it they face losses in their investments, then they understand how important it is to have an emergency fund. An emergency fund is actually the first level of financial freedom, if you want to hold any asset for a long time without any kind of obstacle, an emergency fund will be needed first of all. Because if you are forced to sell the investment, then that obligatory will be the cause of your loss.

[Derekfunds]

For me what really matters at the end is good results, it doesn't matter if you diversify or not. One can choose to diversify but with you choosing to take such decision the other investments have to be reliable as well such as bitcoin.
On the other hand if once chooses to only accumulate in bitcoin, it is not still a bad one, and your focus and money is centered in only bitcoin, whereby making you to be able to accumulate enough for yourself, of cause bitcoin is totally reliable and investing only in the coin is not a bad one, after all its your dictionary income you are using to invest that's enough risk management for me.

Maybe you have forgotten that good results at the end is a function of your right choices and the effort been put in. If you don't make the right choice and carry out a lot of work the way it is supposed to be then there won't be anything like good results because a lot of things brings about that. Yea, what is needed for our Bitcoin investment is our discretionary income but sometimes some people still deviate even with a good discrestionary income which means it is not only discrestionary income that matters but we should also discipline ourselves and make ourselves understand that long term is the goal because there will come a time where lust of taking our profit when it is not yet time will come and we should always learn to say no to this lust or urge when it comes.

[Bigjoe33]

 some guys also think that they don't need any emergency funds, and the mere fact that they have two jobs, that is enough for them to invest into bitcoin from income from their extra job... and it seems to me that having back up funds is more important than having an extra job, even though i surely am not against guys coming up with ideas to supplement their income.. but extra income might not be enough if a person otherwise engages in sloppy and/or risky practices.

Surely JJG, I share the same sentiments with you on this matter. Sincerely, despite the fact that one has an extra job which brings extra income, back up funds are still very much needed and should be built alongside the investment as your extra cash may not run always and/or may not be always available at all times. Take for an example, an investor which decides not to have an emergency funds or back up funds due to the fact that he has extra jobs or income might be pushing alright, but the problem will be that when meg shows up when the extra cash if not readily available, what happens to your investment?

Perhaps, emergency might just show up unexpectedly as it usually does, and maybe, you just finished the money with you, hoping for the next pay Maybe two or three days ahead, and since it's really close, you wouldn't really mind, and then meg comes up, what will be done? The thing is, building up back up funds seems to me as an international attempt to prepare for and/or save your investment. It's like prioritising your investment over other things that doesn't really matter, and this grants you the ability to sustain your investment for long.

An investor who just depends on spending his extra cash becauyhe has multiple sources of income might involve in spending habits that may not be controllable and might affect how long or how good he will manage his income, while on the other hand, the investor who is gradually and intentionally building up his back funds becomes careful when allocating resources and/or managing income as he already mapped out means to distribute his income across for effective utilisation. For me, building or having a back up funds as an investor is just too important and shouldn't be joked with.

[Baki202]

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For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

I also strongly disagree with not using emergency funds for any investment, as they are specifically set aside for that purpose and are not involved in anything else. I am currently experiencing a flood, and an emergency fund is absolutely crucial in such circumstances, as food supplies have been disrupted due to blocked roads and flooding caused by the incessant rain over the past three days. Therefore, I strongly believe that emergency funds are for more urgent situations, not for more relaxed situations like investing, even if our goal is to buy Bitcoin.

emergency fund is something that sustains you when  you start investing so that you wont start spend your money that you have spent already, so when you have emergency funds it gives you more focus, so just imagine that you dont have emergency funds, the situation would have been worst.  and all this things comes a long way. and with what you have explained it shows how important emergency funds, so and even if you want to invest, you should also have your emergency funds for emergency, and most people dont even know about, and that is why people are suppose to do reserch of thing that are needed befor they start investing because people are sharing there experiences, and this are this are thins that people are suppose to learn from.

[Joeboy]

Maybe you have forgotten that good results at the end is a function of your right choices and the effort been put in. If you don't make the right choice and carry out a lot of work the way it is supposed to be then there won't be anything like good results because a lot of things brings about that. Yea, what is needed for our Bitcoin investment is our discretionary income but sometimes some people still deviate even with a good discrestionary income which means it is not only discrestionary income that matters but we should also discipline ourselves and make ourselves understand that long term is the goal because there will come a time where lust of taking our profit when it is not yet time will come and we should always learn to say no to this lust or urge when it comes.

Yeah in Bitcoin investment, the discipline to stay consistently with your buys and hold through for the long term is just as important as even having your discretionary income. Lots of folks may have enough discretionary income but still mess up coz they are unable to stay focused to their long term plan. In the course of their journey most folks majorly the new investors are mostly under a lot pressure to take quick profit, panic during dip and whatnot this is what eventually destroy most investors holdings. That is why having discipline and emotional control is very important. And truth be told, having this discipline can only be made possible if investors are able to have a clear plan on how and where to channel their money, I mean an investor cannot be talking about being disciplined when such an investor has a bad cashflow, or when they are investing with their emergency funds or money that they will be needing soon..

[GIF-JOBS]

For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

Emergency funds should be prepared in advance. Avoid investing all your assets in exchanges, as this will cause panic when prices drop. Emergency funds should last at least three months to avoid the risk of panic selling, or when faced with an emergency need for cash, you might sell your invested Bitcoin assets. We can't predict the market, so assets are safe if we have an emergency fund of at least 3 months' worth of funds.

There is no much need to create an emergency fund before starting to invest, but I agree with you that we need to create an emergency fund for at least 3 months of emergency funds, once the financial situation is bad, it takes a long time to get back to normal, and that entire time has to be spent through a lot of financial stress, so it is very reasonable and necessary to have a 3-month emergency fund to reduce this financial stress a lot and to maintain investment consistently. This will provide a very good protection that will help a lot in bringing the financial situation to a normal level and it will not allow the investment to be interrupted or damaged.

[Jewan420]

Yeah in Bitcoin investment, the discipline to stay consistently with your buys and hold through for the long term is just as important as even having your discretionary income. Lots of folks may have enough discretionary income but still mess up coz they are unable to stay focused to their long term plan. In the course of their journey most folks majorly the new investors are mostly under a lot pressure to take quick profit, panic during dip and whatnot this is what eventually destroy most investors holdings. That is why having discipline and emotional control is very important. And truth be told, having this discipline can only be made possible if investors are able to have a clear plan on how and where to channel their money, I mean an investor cannot be talking about being disciplined when such an investor has a bad cashflow, or when they are investing with their emergency funds or money that they will be needing soon..

None of us are supposed to have control over someone's mental thoughts, especially when a newbie starts to panic in a bear market. This is mainly due to inexperience and lack of knowledge, even if he invests with prudent money, it is not uncommon for him to panic and take wrong steps in a volatile market. This will get better with time when he gains some experience with the market and realizes his mistakes.

There are very few people who panic or take wrong steps in a bear market due to poor financial management in their long-term investment plans. Because a newbie's investment fund may not be very large in the initial stage, he does not panic due to errors in financial management. Rather, due to inexperience, he cannot adapt himself to the market, even though he invests with prudent money. At such a time, he may need a person who can give him good advice and courage.

[Yorubek]

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For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

I also strongly disagree with not using emergency funds for any investment, as they are specifically set aside for that purpose and are not involved in anything else. I am currently experiencing a flood, and an emergency fund is absolutely crucial in such circumstances, as food supplies have been disrupted due to blocked roads and flooding caused by the incessant rain over the past three days. Therefore, I strongly believe that emergency funds are for more urgent situations, not for more relaxed situations like investing, even if our goal is to buy Bitcoin.

emergency fund is something that sustains you when  you start investing so that you wont start spend your money that you have spent already, so when you have emergency funds it gives you more focus, so just imagine that you dont have emergency funds, the situation would have been worst.  and all this things comes a long way. and with what you have explained it shows how important emergency funds, so and even if you want to invest, you should also have your emergency funds for emergency, and most people dont even know about, and that is why people are suppose to do reserch of thing that are needed befor they start investing because people are sharing there experiences, and this are this are thins that people are suppose to learn from.

It is very important for every investor to have an emergency fund, the future is uncertain, we do not know what awaits us. emergency fund is very important to protect us from unknown dangers and help us reach our goals. Bitcoin long-term investment system, it is very important to have an emergency fund to manage long-term investments consistently. Danger can come at any time, so our investment should not stop at that time so that we can reach our goals despite all obstacles, so it is very important to have an emergency fund. I think an emergency fund can make the unknown path of the future easier.

[Humblevirus]

For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

Emergency funds should be prepared in advance. Avoid investing all your assets in exchanges, as this will cause panic when prices drop. Emergency funds should last at least three months to avoid the risk of panic selling, or when faced with an emergency need for cash, you might sell your invested Bitcoin assets. We can't predict the market, so assets are safe if we have an emergency fund of at least 3 months' worth of funds.

As a beginner, it is not necessary that someone must build an emergency fund first before they can start investing in Bitcoin. They can start accumulating Bitcoin and later begin building their emergency funds. As you said, three months is okay. So it is not a must that we start building the emergency fund before we start buying Bitcoin. What matters is that we should not wait too long after we begin accumulating Bitcoin before we also start building an emergency fund.

Regarding keeping funds on exchanges, it is not a good idea.but for beginners, it is better to first leave their Bitcoin on the exchange as long as they have not accumulated much. It is better to wait until they have a certain amount of Bitcoin before moving it to personal wallets.

[Crytohillss]

Emergency funds should be used only for emergency situation, we have different type of backup funds and they are emergency, reserve and float funds, you can use your reserve funds to accumulate Bitcoin whenever you want especially when there is a dip in Bitcoin, but using an emergency funds to invest in Bitcoin is a no  for me, sometimes I know you may be feeling that the emergency funds is just in the bank without being used because no emergency issues has happened it is advised you don't use your emergency funds to accumulate Bitcoin just continue keeping it for the emergency funds because just like you said Muba20 an emergency can happen at any time.

Although, I would say that it depends on the kind of situation they find themselves into. Take for instance in a week I'm sure that every investors have his or her day of making purchase that's for those who are into DCA, some might buy in Monday, the other Tuesday and so on. Take for instance you only have emergency funds available let's assume you're supposed to make your routine Bitcoin purchase today, and unfortunately your weekly or monthly income was postponed to the next day when you're sure of receiving your weekly or monthly income today. you know at this point in time you're Left with no option aside from investing from your emergency funds since it's the only fund available so the question is are you going to make use of the available funds (emergency funds) or you would prefer to skip your Bitcoin purchase for the week ? To me I would make use of the available one since I have a hope of replacing it back because I wouldn't want to watch the week slide when I still have alternative, It's only bad to use emergency funds to make Bitcoin purchase when you're not sure of making replacement.

Look, we sometimes see emergency funds and think it would be a sin to touch them. However, in the real world, life is not that easy. The money life of people is forever changing. Salaries of some people are late, some people have early-night expenses, some bank transfers of people are blocked.
In this light, it is not necessarily bad to freeze an emergency fund by a day or a week. When you have confidence in yourself, and you are certain about getting the money back the next day, it is some momentary adjustment, nothing big.

You can categorize your income versus expenses however you like, and yes, every week, each of us likely has some unexpected expenses and/or some unexpected income, and so if we are practicing strong cashflow management, many times we won't even notice the fluctuations because we have 2x, 3x, 4x or even more cash available to cover those various fluctuations without our hardly even noticing it.

If for some reason we have a whole bunch of unexpected expenses and some shortages in our income, then perhaps a bunch of minor things are suddenly an emergency because our income is not enough to cover our expenses.

When we choose to purposefully deplete our extra cash down below a certain level because we are deciding to buy bitcoin with that money, then at some point we likely should realize that the mere fact that bitcoin dipped is not enough of a reason to deplete our extra cash below a certain level.. since if we deplete below a certain level, we won't be able to cover any extra expenses that come our way.

So, if we are ongoingly engaging in good cashflow management practices, we likely realize various points that we cannot go below before we are going to be putting ourselves into unnecessary stress due to potential shortages in cash and our having to tap into other funds that we have and if we don't have any other funds, then the ONLY thing that we have at that point is our bitcoin... so then we may well be tapping into our bitcoin at a time that was not at our own choosing... so yeah, there is a difference between when we spend from our extra funds due to unexpected shortages in income or increase3s in expenses that might come versus if we had depleted our extra funds based on our desire to buy the dip and then if we end up putting ourselves into an emergency situation based on our willingly spending money that was supposed to be serving as a cushion from our expenses.

However, the issue is habit. When people believe that they will give a little, then they will take it back later and then again. By so doing, there will come a day when the fund will vanish.

The fund will not vanish if you are making sure that you are not doing too many dumb things with it and if you are making sure that it does not vanish.

There can be guy.s who invest 10, 20, 30 years and they never have to touch their emergency funds because they always maintain a sufficient and adequate cushion.

We likely know many folks who are having emergencies on nearly a weekly basis, and likely the reason that they have emergencies so frequently relates to their own sloppiness in managing their cashflows, making sure that they have enough of a cushion and not doing dumb shit to put themselves in situations in which emergencies are more likely to end up happening due to their not having much if any cash cushion

It is all a matter of circumstance in my view. When you are quite certain that the money will be returned, and that it will not cause a strain on your head, then there is nothing wrong about making it roll one day.

Of course, if we know our expenses and we know our income we may well have high level of confidence that if we spend an extra $100 that can be replaced in one or two days, then we might not be putting ourselves at very much risk to merely tap into a fund for a short time, such as 1 or 2 days.

However, when you suspect that there is a bit of danger, or the money is going to be slow coming back, then you probably should not buy Bitcoin. When you do not make a purchase in a week, you will not notice a difference, but when you are in an accident with fire, no one will assist you.

Guys are surely responsible for their choices, and if they end up screwing up, they will pay the consequences.. and yeah, some guys screw up way more than others, and sometimes their level of screw up does not impact them very much, and other times the impact of the screw up might end up taking away years and years and years of progress.

We frequently see guys who built their bitcoin investment for many years, and then they let their own urges to put them into a place in which they likely will never get back to their prior level of bitcoin accumulation, and surely due to their own choices and/or sloppiness... .. some guys also think that they don't need any emergency funds, and the mere fact that they have two jobs, that is enough for them to invest into bitcoin from income from their extra job... and it seems to me that having back up funds is more important than having an extra job, even though i surely am not against guys coming up with ideas to supplement their income.. but extra income might not be enough if a person otherwise engages in sloppy and/or risky practices.

Emergency cash are meant to stay untouched unless life really throws something unexpected at any one it can be tempting to dip into funds when the market pulls back especially with versatile bitcoin is, but once that safety net is gone its gone using reserve or floats cash for opportunities makes way more sense the reason being becuse those are the ones you can actually afford to move . Emergency does not gives warning and the last thing everyone wants is to be stuck in a good situation with no cushion.

[yixichloro2xx]

For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

Emergency funds should be prepared in advance. Avoid investing all your assets in exchanges, as this will cause panic when prices drop. Emergency funds should last at least three months to avoid the risk of panic selling, or when faced with an emergency need for cash, you might sell your invested Bitcoin assets. We can't predict the market, so assets are safe if we have an emergency fund of at least 3 months' worth of funds.

There is no much need to create an emergency fund before starting to invest, but I agree with you that we need to create an emergency fund for at least 3 months of emergency funds, once the financial situation is bad, it takes a long time to get back to normal, and that entire time has to be spent through a lot of financial stress, so it is very reasonable and necessary to have a 3-month emergency fund to reduce this financial stress a lot and to maintain investment consistently. This will provide a very good protection that will help a lot in bringing the financial situation to a normal level and it will not allow the investment to be interrupted or damaged.

‎What I can say is that emergency funds is like a life saver  especially when money pressure starts building up like ( health, feeding, rents,) it gives you space to think straight. Without it, I don't think a person can fully concentrate on his investments because when any emergency comes up he has to sell his Bitcoin to settle those bills. saving for emergency times reduces stress, and helps you move through tough moments without breaking your progress.

[ejikeme24]

The importance of an emergency fund cannot be explained, those who do not understand the importance of an emergency fund in advance, when they actually face that problem and because of it they face losses in their investments, then they understand how important it is to have an emergency fund. An emergency fund is actually the first level of financial freedom, if you want to hold any asset for a long time without any kind of obstacle, an emergency fund will be needed first of all. Because if you are forced to sell the investment, then that obligatory will be the cause of your loss.

Whoever that understand the meaning of emergency" will not bother to ask why it's required. Or maybe some people feel there's a particular emergency that should be expected during Bitcoin accumulation? But the answer is no" emergency is just emergency so it could be of any kind as we can't predict what will happen the next minute so it's very important to make our emergency fund available at all time.

Even in other forms of investment or business yet emergency fund is also required, let me  make it very clear since some people is now beginning to think that emergency fund is not required in other investment or business that why is it like a mandate in Bitcoin investment? Have you ever come to imagine why some investment or business don't take long before crashing? That is because the investor is lacking investment knowledge because a real investor or a real business personnel would never forget about setting up emergency funds because he knows the important of having an emergency fund.

[JayJuanGee]

Yeah in Bitcoin investment, the discipline to stay consistently with your buys and hold through for the long term is just as important as even having your discretionary income. Lots of folks may have enough discretionary income but still mess up coz they are unable to stay focused to their long term plan. In the course of their journey most folks majorly the new investors are mostly under a lot pressure to take quick profit, panic during dip and whatnot this is what eventually destroy most investors holdings. That is why having discipline and emotional control is very important. And truth be told, having this discipline can only be made possible if investors are able to have a clear plan on how and where to channel their money, I mean an investor cannot be talking about being disciplined when such an investor has a bad cashflow, or when they are investing with their emergency funds or money that they will be needing soon..

None of us are supposed to have control over someone's mental thoughts, especially when a newbie starts to panic in a bear market. This is mainly due to inexperience and lack of knowledge, even if he invests with prudent money, it is not uncommon for him to panic and take wrong steps in a volatile market. This will get better with time when he gains some experience with the market and realizes his mistakes.

There are very few people who panic or take wrong steps in a bear market due to poor financial management in their long-term investment plans. Because a newbie's investment fund may not be very large in the initial stage, he does not panic due to errors in financial management. Rather, due to inexperience, he cannot adapt himself to the market, even though he invests with prudent money. At such a time, he may need a person who can give him good advice and courage.

You are a bit patronizing Jewan420.

Of course, there are folks with differing levels of experience, and surely a guy who practices more is going to be less likely to make BIG mistakes, yet any person can make mistakes or get disoriented or even come to change his opinion or get lost in his own method or lack of method.

It seems problematic to proclaim that some folks are beyond making mistakes, and even experience persons will sometimes come to learn mistakes that they are making.. and so in that sense each of us needs to try to maintain some humbleness.

Another thing is that some guys learn way faster than others.  Have you ever met someone who you considered to be quite infallible and beyond mistakes. Sure there are some folks who are like that, even though we surely have to try to accept that there are a variety of skills and even a variety of learning speeds and even some folks who repeatedly make simlar mistakes and develop bad habits.

[edited out]

Emergency cash are meant to stay untouched unless life really throws something unexpected at any one it can be tempting to dip into funds when the market pulls back especially with versatile bitcoin is,

When we are early in our time of building our bitcoin holdings and our emergency funds, it may well be the case that we are tapping into our emergency funds /back up funds because we are still in the process of building up our systems.

We also cannot presume how long it is going to take for guys to build up cashflow management systems.  if guys have a lot of discretionary funds, they can build up their systems fast.  Other guys might take years to build up their systems.

We cannot generalize regarding how an ideal system might look and then presume that everyone can build up to an ideal system from whereever they are starting out, since some guys will take longer than others to get there, and some guys might continuously get knocked out of their system (whether due to their own mistakes or due to complications that they might already have in their lives that are causing demands on their time, energy and money.

but once that safety net is gone its gone using reserve or floats cash for opportunities makes way more sense the reason being becuse those are the ones you can actually afford to move . Emergency does not gives warning and the last thing everyone wants is to be stuck in a good situation with no cushion.

Guys who have more complications in their cashflow situation likely have to keep more floating cash.. and it may well be harder for them to invest regularly, even though I like to proclaim that everyone needs to figure out how to get started investing into bitcoin, even if they have complications in their finances, yet they still might be ongoingly struggling to figure out their cushion levels and/or which things to pay for first and even ways to shore up their income and/or to limit their expenses....  

Some guys might be a bit unclear about whether they have discretionary income and/or how much discretionary income that they have, yet they might still have enough cashflow to know that they have discretionary income even if both their income and their expenses are eradic.

Sometimes guys might have to spend some time going over the different categories of income and  expenses that they have in order to try to figure out the extent to which their discretionary income might be above a certain amount to allow them to invest.

If a guy is in such mess financially and/or psychologically, he might have to sort through some of that prior to investing into bitcoin, since those kinds of unclarities might contribute to his not being able to figure out both the extent of his discretionary income and/or if his discretionary income is enough to actually invest into bitcoin, and surely I ongoingly suggest getting started investing in bitcoin as soon as we can determine that we have discretionary income, yet at the same time, we have to be realistic that a guy might not be able to invest into bitcoin beyond merely getting started if he is not able to have some ideas in regards to projecting both his income and his expenses so that he can figure out how much he has available to invest into bitcoin, whether it is $100 per week, $10 per week or some other amount that is sufficiently comfortable and not going to cause burdens upon him to put those weekly amounts into bitcoin.. .and sometimes a guy might start with an amount invested into bitcoin, but then have to change the amount invested each week based on a lack of steadiness in his income and/or his expenses.

[Bd officer]

As a beginner, it is not necessary that someone must build an emergency fund first before they can start investing in Bitcoin. They can start accumulating Bitcoin and later begin building their emergency funds. As you said, three months is okay. So it is not a must that we start building the emergency fund before we start buying Bitcoin. What matters is that we should not wait too long after we begin accumulating Bitcoin before we also start building an emergency fund.

In fact, I think smart people always save an emergency fund, they are prepared in advance, because emergencies can come at any time. Now, are only those who invest in Bitcoin going to save an emergency fund? That is wrong. Don't those who don't invest in Bitcoin save an emergency fund? Of course, smart people keep some money to spend in emergencies. Now, Bitcoin is a risky asset, so you should have an emergency fund in advance, because if you plan long-term and if an emergency arises and you don't have an emergency fund, what will you do? So it may be good to have an emergency fund in advance.

[Tungbulu]

[edited out]

Emergency cash are meant to stay untouched unless life really throws something unexpected at any one it can be tempting to dip into funds when the market pulls back especially with versatile bitcoin is,

When we are early in our time of building our bitcoin holdings and our emergency funds, it may well be the case that we are tapping into our emergency funds /back up funds because we are still in the process of building up our systems.

We also cannot presume how long it is going to take for guys to build up cashflow management systems.  if guys have a lot of discretionary funds, they can build up their systems fast.  Other guys might take years to build up their systems.

We cannot generalize regarding how an ideal system might look and then presume that everyone can build up to an ideal system from whereever they are starting out, since some guys will take longer than others to get there, and some guys might continuously get knocked out of their system (whether due to their own mistakes or due to complications that they might already have in their lives that are causing demands on their time, energy and money.

This is a fact that most investors often ignore. They feel as though building financial security around themselves is just an overnight exercise. But in reality, this is a process that takes quite a long time with uneven stages to achieve. And it’ll be very unrealistic for anyone to think that there’s an actual universal ideal setup that everyone would arrive on the same timeline.

The truth is that, early on, investors will get their emergency fund mixed with their investment, not because this is optimal but simply because they’re still trying to learn how to balance their cashflow, define their boundaries and build up enough buffer to enable them make a clear separation between all of them. And honestly, this may not really be considered to be failure but just a natural phase between structure and survival mode.

And you’re also very right and I agree with you that an investor’s cashflow strength determines their speed. Folks with enough discretionary income will be able to separate accounts, decide to automate contributions without having any troubles, and simultaneously build your buffers without much hassles. While another with a tight income, and unpredictable expenses and/high responsibilities may take longer or have a hard time to create a breathing room. And if you also add family obligations, health issues, life chaos, and unstable job, and it becomes pretty obvious why most financial systems take much longer time to mature or often get disrupted.

[As-Soon-As]

For sure , emergency funds is not for investing but it is to be used for emergency. Using it for investment is a wrong approach as emergency can arise at any time and when this happens the investor maybe force to use there bitcoin as emergency funds which is not investing but rather gambling. Discretionary income is what we should invest in bitcoin and not emergency funds, unless if we are thinking in the direction of trading which maybe risky as well.

Emergency funds should be prepared in advance. Avoid investing all your assets in exchanges, as this will cause panic when prices drop. Emergency funds should last at least three months to avoid the risk of panic selling, or when faced with an emergency need for cash, you might sell your invested Bitcoin assets. We can't predict the market, so assets are safe if we have an emergency fund of at least 3 months' worth of funds.

The importance of an emergency fund cannot be explained, those who do not understand the importance of an emergency fund in advance, when they actually face that problem and because of it they face losses in their investments, then they understand how important it is to have an emergency fund. An emergency fund is actually the first level of financial freedom, if you want to hold any asset for a long time without any kind of obstacle, an emergency fund will be needed first of all. Because if you are forced to sell the investment, then that obligatory will be the cause of your loss.

There is no alternative to having an emergency fund, because if you hold Bitcoin for the long term, there will definitely be danger. Having an emergency fund is important to deal with this danger. However, it is easier for those who have good discretionary income to invest in Bitcoin according to the DCA method for a long time, but both Bitcoin investors, whether small or large, should use an emergency fund. An emergency fund not only protects Bitcoin investments, it also creates an opportunity to hold more Bitcoin during the Bitcoin market.

[alankasman]

There is no alternative to having an emergency fund, because if you hold Bitcoin for the long term, there will definitely be danger. Having an emergency fund is important to deal with this danger. However, it is easier for those who have good discretionary income to invest in Bitcoin according to the DCA method for a long time, but both Bitcoin investors, whether small or large, should use an emergency fund. An emergency fund not only protects Bitcoin investments, it also creates an opportunity to hold more Bitcoin during the Bitcoin market.

It's very difficult to not have an emergency fund because if your income is stable, it's not a problem, and you don't experience any risk at all.
Similarly, regarding the Bitcoin issue, what we need to understand is that investing is easy. If we have an emergency fund, it's easier because we don't have to worry about the risks that will occur if we experience losses when our investment price drops, as happened a few weeks ago when the price dropped drastically to $85. That's what I meant earlier about emergency funds.

Big investors have a huge opportunity when the Bitcoin price drops, because they are the ones needed because they buy Bitcoin when the price drops so that when the price returns to normal it indicates that they will experience huge profits, for example I said they bought when the price was $85 so they invested when the price was cheap and when it happens like today's price at $91 of course these investors will have huge profits because they have emergency funds and they are different from us in terms of investing in Bitcoin.