Buy Buy Buy or Sell Sell Sell?

[Rockson1]

To start investing, we only need $10 of discretionary income. To invest, we do not need a stable income or a large source of income. If a person can generate $10 of discretionary income after meeting all his personal expenses, then he can invest.

Along with investing, a person can create an emergency fund. For example, if a person has a discretionary income of $20, he can invest $12 and keep $5 in an emergency fund and keep $3 for additional expenses. If a person invests in this way, it will be very good for them. If there is no additional expense in a month or week, then he can invest the $3 kept for additional expenses if he wants.

Let's put some things straight, you might be right in what you said, at first we may not be needing stable income to invest in Bitcoin, but that not mean we will do without it entirely no, for us to sustain our investment for a long-term we need stable income because that's where our disreationary income will be coming from, infact we should have something that provide us with discretionary income that can enable us invest freely, you said we only need disreationary income of about $10 to enable start first but am here to tell you that we can go as lower as that, it must be that amount, what we need is that amount that gives you peace and rest of mind as you keep investing in Bitcoin as long as it is what you can able to afford, although your disreatinary income increases once you have a higher income, individual discretionary income is never the same, financial strength differs, we as investors are advised to figure out our discretionary income and get consistent while investing and make sure we don't remain at the same level financially to make our Bitcoin investment journey smooth and a kind of easy.

[As-Soon-As]

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

I just saw your post from a year ago now about your prediction on Bitcoin going to $100000 and I must say you saw the future tho it's at $93000 now and I think selling Bitcoin now is gonna be a big loss, so it's best to hold for the next 10 years

It is definitely good to hold Bitcoin for the future, if you do not have any Bitcoins accumulated in the past, then you can deposit Bitcoins in the present by following the DCA method. Because if you deposit Bitcoins according to the DCA method, it will be easier to keep it for a long time and you will have the possibility of making more profits. If a person invests in Bitcoins regularly, then that person will definitely be successful, so if you have Bitcoins, then you can take the opportunity to deposit more Bitcoins during this dip, so buying Bitcoins according to the DCA method will be the best method for you.

[Gallar]

Like in my  country average people earn $50 monthly salary  which is very very low due to poor system of government. I don't expect that kind of person to  have a DCA funds from that kind of low salary. So investing in Bitcoin becomes very hard for them because they are alot of expenses that they need to cover. Most average people in my country finds it hard to invest, still one of the reasons why most  people in  Africa are unable to invest in Bitcoin and are still backwards in terms of Bitcoin adoption.

In such a situation, it is only natural that people find it very difficult to invest, because basically, let alone investing, even meeting their daily needs may be a struggle for the people there. So, in such a situation, the first thing that needs to be fixed is the country's economic system. Because that is the foundation of the people's financial situation. However, even so, there is nothing wrong with wanting to invest in bitcoin, because I believe that sooner or later, if we have the desire, it will definitely come true and be realized. So I hope that people in the country where you live don't lose heart, because investing in bitcoin doesn't have to start with a large amount of money; even with a small amount of money, everything can begin. In essence, never give up if you truly want to invest in Bitcoin, as there will always be a wide-open path ahead.

[Joeboy]

Personally, I think that it can be problematic to suggest that a guy starts out investing at a certain weekly (or monthly) rate, and then to just presume that everything is fine with those numbers, and sure it is one thing to get started, and it is another thing for a guy to keep on building week after week after week, and surely any guy who is attempting to explore these kinds of sustainability matters is likely going to come to realize that many guys who are working with small numbers, they are going to likely have difficulties being consistent with their bitcoin investment, so hopefully, once they get started investing, they are ongoingly thinking about ways to both increasingly build their bitcoin investment and also to ongoingly protect their bitcoin investment by building and retaining back up funds. 

I get the angle you are coming from sir.....Lots of folks get too over excited to investing Bitcoin without even considering how their current situation could affect their ability to stay consistent in the long run...Sure it very good to start buying Bitcoin as soon as possible but in the course of the journey it is also necessary that these folks build up a system that will protect their investments the very moment when life begins to feel unpleasant... And folks can build this system that can protection their investments, by adopting the habits of learning to adjust where necessary(flexibility in their investing amount/size), by also saving( back up funds), by cutting off any unnecessary expenses in order to remain steady...

[dunfida]

Personally, I think that it can be problematic to suggest that a guy starts out investing at a certain weekly (or monthly) rate, and then to just presume that everything is fine with those numbers, and sure it is one thing to get started, and it is another thing for a guy to keep on building week after week after week, and surely any guy who is attempting to explore these kinds of sustainability matters is likely going to come to realize that many guys who are working with small numbers, they are going to likely have difficulties being consistent with their bitcoin investment, so hopefully, once they get started investing, they are ongoingly thinking about ways to both increasingly build their bitcoin investment and also to ongoingly protect their bitcoin investment by building and retaining back up funds. 

I get the angle you are coming from sir.....Lots of folks get too over excited to investing Bitcoin without even considering how their current situation could affect their ability to stay consistent in the long run...Sure it very good to start buying Bitcoin as soon as possible but in the course of the journey it is also necessary that these folks build up a system that will protect their investments the very moment when life begins to feel unpleasant... And folks can build this system that can protection their investments, by adopting the habits of learning to adjust where necessary(flexibility in their investing amount/size), by also saving( back up funds), by cutting off any unnecessary expenses in order to remain steady...

Starting a weekly or monthly Bitcoin plan sounds simple but staying consistent is the real challenge. A lot of people begin with excitement then reality shows them that small income and unstable budgets make long term investing hard. Anyone who works with small numbers eventually faces weeks where they cannot buy and that is normal. The important part is not forcing a fixed amount but learning how to adjust while still protecting the overall goal. Consistency is not about buying the same amount all the time but about staying in the habit without breaking your finances.

Most people get excited about investing before checking if their life situation can support long term commitment. It is good to start early but you also need a system that shields the investment when life gets rough. Many people fail not because Bitcoin is difficult but because their personal finances collapse around them. The moment life pressure rises their investment stops and sometimes they even sell their holdings. A protective system comes from flexibility and discipline. Adjust the amount when income changes. Keep backup funds so you never touch your Bitcoin when emergencies appear. Cut unnecessary expenses so you stay steady even in bad months. This is how someone with a small budget survives the long journey and still builds something that grows over time.

[DubemIfedigbo001]

And what we most commonly recommend is having income from multiple sources, which we usually call discretionary income.

Income from multiple sources is not the same as discretionary income, discretionary income is the funds remaining after taking care of your expenses. Having income from multiple sources doesn't signify the presence of discretionary income, the investor must identify that after taking care of his expenses he still has some left which is the discretionary income he can use to buy bitcoin. No matter how little the discretionary income is, whether it is $50, $100 or even $10, the most important thing is that you're buying and holding, and you are consistent in doing that over a long period of time, probably one or more cycles.

[Bigjoe33]

So, we need to ensure we have enough income to cover all our needs, with some left over to allocate for investments and set aside as an emergency fund.
And what we most commonly recommend is having income from multiple sources, which we usually call discretionary income. We calculate how much we need, and from there, we can create a more mature investment plan, meaning that in the future, we won't have to disrupt our investments due to urgent needs.

It's one thing to have different sources of income, and it's another important thing for the investor to be able to carry out a proper income allocation and management which enables him to handle properly his basic needs and then the left over which now serves for our investment. Some people make enough income but fails to manage there income properly, and this affects there allocation and subsequently, there investment.

Secondly, according to your second point, having enough income is not called discretionary income. Your discretionary income is the money left aside after you have settled your basic necessities. And surely, having enough income is so good as it helps you boost your investment quickly because you can increase your DCA amount and also build your emergency funds and other back up funds too, but having enough income isn't a guarantee, it is your ability to manage your income properly and do a proper allocation

[Princess Leah]

I just saw your post from a year ago now about your prediction on Bitcoin going to $100000 and I must say you saw the future tho it's at $93000 now and I think selling Bitcoin now is gonna be a big loss, so it's best to hold for the next 10 years

It is definitely good to hold Bitcoin for the future, if you do not have any Bitcoins accumulated in the past, then you can deposit Bitcoins in the present by following the DCA method. Because if you deposit Bitcoins according to the DCA method, it will be easier to keep it for a long time and you will have the possibility of making more profits. If a person invests in Bitcoins regularly, then that person will definitely be successful, so if you have Bitcoins, then you can take the opportunity to deposit more Bitcoins during this dip, so buying Bitcoins according to the DCA method will be the best method for you.

For starters, the DCA strategy is the best method to build their portfolio with, it's not as if other strategies are useless but the DCA is best for risk management of Bitcoin investment, newbies need a strategy that would help their investment journey go smoothly as they try to gather much coins as possible in their portfolio.

 Well not only newbies, everyone is permitted to use the DCA and that's one good thing about it and you'll have to buy according to when you receive your income. For instance, it makes no sense for someone who receives their income monthly to buy daily  when the money apportioned to their discretionary funds doesn't permit them to, therefore accumulating Bitcoin should be dome according to ones discretionary fund.

[Showlove01]

To start investing, we only need $10 of discretionary income. To invest, we do not need a stable income or a large source of income. If a person can generate $10 of discretionary income after meeting all his personal expenses, then he can invest.

Along with investing, a person can create an emergency fund. For example, if a person has a discretionary income of $20, he can invest $12 and keep $5 in an emergency fund and keep $3 for additional expenses. If a person invests in this way, it will be very good for them. If there is no additional expense in a month or week, then he can invest the $3 kept for additional expenses if he wants.

Yes, I agree with your point that investing in Bitcoin doesn't necessarily mean that someone must have a stable source of income. There are some people who are contractors whose income is not stable but comes once in a while and when it comes, it usually comes in a large amount. It is only this kind of person that can invest in Bitcoin.But if you are the kind of person for whom it takes a long time to get even $20 in discretionary funds, then I don't think such a person needs to bother with investing in Bitcoin. It may become discouraging, because how much Bitcoin will they really be able to accumulate in the short term? It is even possible that the person may not be able to hold for the long term, especially if there is no increase in Bitcoin’s price.So, it would be better for this kind of person to first look for a stable source of income one stable enough that they can invest a reasonable amount from their discretionary funds, based on their salary or wages, and also be able to build an emergency fund

Like in my  country average people earn $50 monthly salary  which is very very low due to poor system of government. I don't expect that kind of person to  have a DCA funds from that kind of low salary. So investing in Bitcoin becomes very hard for them because they are alot of expenses that they need to cover. Most average people in my country finds it hard to invest, still one of the reasons why most  people in  Africa are unable to invest in Bitcoin and are still backwards in terms of Bitcoin adoption.

That is a very small amount of money and someone with responsibilities will not or can not be able to invest in Bitcoin with this kind of salary but that is the more reason it is good to have several source of income because as human being you really need that because human wants and  challenges are very unlimited because the more someone grow the more challenges, the more they want things to use and handle those challenges and people who are dynamic and versatile are the most successful people in the world we don't need or have to be limited in terms of source of income, we need to be versatile.

[JayJuanGee]

You have a point, but for bitcoin investment, when someone made up is mind and decide to invest in bitcoin, what really make the investment to move forward is stable income,  because once you have stable sources the investment becomes easier to set aside a reasonable amount regularly without causing any problems to your daily activities or life, it also reduce the chance of fear to sell your bitcoin investment whenever the price drops, because you are not depending on that money to survive, so to have a stable sources is very necessary, is part of bitcoin investment before thinking of any other things, because bitcoin is a long term investment that has to do with patience and consistency, if your sources is not strong how will the person meet up with basic needs?  Whenever the person have a emergency, That may put unnecessary pressure that you don't even expect.

But, bitcoin investment often works, when your sources of income is stable income, emergency funds and no any pressure on money you invest, that can help you to hold for long term and also benefit from bitcoin without any stress.

You don't need a stable income to get started, neither do you need a stable income to keep your bitcoin investment ongoing. What you need is a discretionary income to start your bitcoin investment and a regular discretionary income to keep your bitcoin accumulation ongoing. Discretionary income is the extra cash that you can use to do whatever you like without it affecting your standard of living.

There are some folks that have stable income but have no discretionary income because their income is smaller to meet up with basic needs and monthly expenses. If you don't have a regular discretionary, you can invest whenever, your discretionary income is ready and gradually work on improving your income by getting a second job or learning a skill which you can use to generate more money so that you can have a regular discretionary income and keep your bitcoin accumulation ongoing with DCA.

A lot of new investors misunderstand what's required to start investing in bitcoin. Some of them have discretionary income but they think that's it's only when they have a stable job that they can start investing which is wrong.

This is common misconception of people that they really need to have stable income to start. But actually what they need is money they can afford to spend and everything will follow. For sure that they won't let their selves starve so they provably find opportunities outside or even online to get decent amount of income. So those extra funds or discretionary income left is good to use for investment matters.

The problem is lots of people don't have discretionary income since they messed a lot with their spending habits. They didn't have proper financial management that's why they suffer and hard to cater up other things like investment matters. They can avoid getting issue if they just pay attention on their start up and don't get stress on other distraction or misleading opinions.

Also to avoid getting to much issues much better if they live according to their means. Then focus for growth by having investment since once they put money on great assets like Bitcoin there's provably good chance that they can earn good results.

Some people do not have much if any discretionary income based on where they live and also potentially based on their age/health and various life paths that they had chosen that had ended up keeping them in a situation in which they have little to no discretionary income.

It is hard to know the possibilities for other folks and surely some folks have so much poverty in their youth that it becomes difficult or nearly impossible to pursue higher paying type work so poor people may well need to be way more organized and resourceful to get their income situation to a place that is even close to comparable to some folks who might have had starting points with more resources.

We cannot necessarily change a person's starting point or where they might be when they first hear about bitcoin, yet a person who does not have many resources may well need to put a lot more work into organizing their life and their finances (and even their psychology) as compared with people who might be starting from better positions.

And, yeah, there are likely some folks who have such bad pay and working conditions that they might have difficulties figuring out how to learn about bitcoin and/or getting access to information about bitcoin - even though frequently we presume that more and more folks have access to the internet, yet it still can be challenging for some folks to both figure out bitcoin and also to figure out ways to source their bitcoin, including ways that they can increase their income, energies and time available to be able to learn how to invest in bitcoin and to also put their learnings into practice perhaps with a lot of dedication especially for folks who might be working with low amounts of discretionary income.

Personally, I think that it can be problematic to suggest that a guy starts out investing at a certain weekly (or monthly) rate, and then to just presume that everything is fine with those numbers, and sure it is one thing to get started, and it is another thing for a guy to keep on building week after week after week, and surely any guy who is attempting to explore these kinds of sustainability matters is likely going to come to realize that many guys who are working with small numbers, they are going to likely have difficulties being consistent with their bitcoin investment, so hopefully, once they get started investing, they are ongoingly thinking about ways to both increasingly build their bitcoin investment and also to ongoingly protect their bitcoin investment by building and retaining back up funds.  

I get the angle you are coming from sir.....Lots of folks get too over excited to investing Bitcoin without even considering how their current situation could affect their ability to stay consistent in the long run...Sure it very good to start buying Bitcoin as soon as possible but in the course of the journey it is also necessary that these folks build up a system that will protect their investments the very moment when life begins to feel unpleasant... And folks can build this system that can protection their investments, by adopting the habits of learning to adjust where necessary(flexibility in their investing amount/size), by also saving( back up funds), by cutting off any unnecessary expenses in order to remain steady...

Yep.  Each person needs to put systems in place and to reinforce their mindset in positive ways so that they are able to continue to build their bitcoin holdings and to resist from tapping into their bitcoin in ways that end up hurting them in the longer run, even if they end up getting gratification in the shorter run..

Sometimes I am not sure if deferred gratification can be learned, since it seems that some folks are more easily able to organize themselves and to defer their gratification as compared with other people... so if we already know that we have tendencies to not be able to defer gratification, we likely need to figure out ways to put systems and practices in place so that our tendencies towards lacking in patience does not end up contributing towards our tapping into our bitcoin investment prematurely and/or other practices that involve failure/refusal to sufficiently/adequately continue in our bitcoin stacking (accumulation).

[AYOBA]

That is a very small amount of money and someone with responsibilities will not or can not be able to invest in Bitcoin with this kind of salary but that is the more reason it is good to have several source of income because as human being you really need that because human wants and  challenges are very unlimited because the more someone grow the more challenges, the more they want things to use and handle those challenges and people who are dynamic and versatile are the most successful people in the world we don't need or have to be limited in terms of source of income, we need to be versatile.

Yeah, that’s just the facts someone who is receiving a lowest salary and have too much responsibility can’t able to invest in the Bitcoin. Because invest in Bitcoin is also a responsibility on his own, and someone that already have the family’s responsibility it will be difficult to handle the investment. Accept he as another source of income; there’s some of people that don’t care about the lower income some will still divide the income into two and take some part to invest, just because they have interest to invest in the Bitcoin.

[I_Anime]

To start investing, we only need $10 of discretionary income. To invest, we do not need a stable income or a large source of income. If a person can generate $10 of discretionary income after meeting all his personal expenses, then he can invest.

Along with investing, a person can create an emergency fund. For example, if a person has a discretionary income of $20, he can invest $12 and keep $5 in an emergency fund and keep $3 for additional expenses. If a person invests in this way, it will be very good for them. If there is no additional expense in a month or week, then he can invest the $3 kept for additional expenses if he wants.

Yes, I agree with your point that investing in Bitcoin doesn't necessarily mean that someone must have a stable source of income. There are some people who are contractors whose income is not stable but comes once in a while and when it comes, it usually comes in a large amount. It is only this kind of person that can invest in Bitcoin.But if you are the kind of person for whom it takes a long time to get even $20 in discretionary funds, then I don't think such a person needs to bother with investing in Bitcoin. It may become discouraging, because how much Bitcoin will they really be able to accumulate in the short term? It is even possible that the person may not be able to hold for the long term, especially if there is no increase in Bitcoin’s price.So, it would be better for this kind of person to first look for a stable source of income one stable enough that they can invest a reasonable amount from their discretionary funds, based on their salary or wages, and also be able to build an emergency fund

Like in my  country average people earn $50 monthly salary  which is very very low due to poor system of government. I don't expect that kind of person to  have a DCA funds from that kind of low salary. So investing in Bitcoin becomes very hard for them because they are alot of expenses that they need to cover. Most average people in my country finds it hard to invest, still one of the reasons why most  people in  Africa are unable to invest in Bitcoin and are still backwards in terms of Bitcoin adoption.

That is a very small amount of money and someone with responsibilities will not or can not be able to invest in Bitcoin with this kind of salary but that is the more reason it is good to have several source of income because as human being you really need that because human wants and  challenges are very unlimited because the more someone grow the more challenges, the more they want things to use and handle those challenges and people who are dynamic and versatile are the most successful people in the world we don't need or have to be limited in terms of source of income, we need to be versatile.

When come to investing one is require to invest according to their income capacity . You don't have to over do anything at all invest according to the amount your budget allows .

Yes with such amount you can still invest though, but in a very slow rate but still better that not investing at all if anyone found themselves in such situation is best they find ways to step up their game (to increase their in come and sources ) and same time reducing expenditure, learning how to prioritise "need" more from "want "

[B-BossMan]

That is a very small amount of money and someone with responsibilities will not or can not be able to invest in Bitcoin with this kind of salary but that is the more reason it is good to have several source of income because as human being you really need that because human wants and  challenges are very unlimited because the more someone grow the more challenges, the more they want things to use and handle those challenges and people who are dynamic and versatile are the most successful people in the world we don't need or have to be limited in terms of source of income, we need to be versatile.

Yeah, that’s just the facts someone who is receiving a lowest salary and have too much responsibility can’t able to invest in the Bitcoin. Because invest in Bitcoin is also a responsibility on his own, and someone that already have the family’s responsibility it will be difficult to handle the investment. Accept he as another source of income; there’s some of people that don’t care about the lower income some will still divide the income into two and take some part to invest, just because they have interest to invest in the Bitcoin.

You are actually right, but we are individuals differences to the extent that the small amounts of money you are earning doesn't stop you from investing in Bitcoin seriously, each an everyone of us has his/her own way of planning,though there are some people that can put or be saving the 60% of thier earnings in order to invest when it reaches the targeted amounts and still be doing fine with thier family, expecialy the lower amounts of family. Well it would be actually hard for those that has huge responsibilities without plans. Moreover it's better you plan your future through investments no matter how little you are earning.

[Kiddo15]

Personally, I think that it can be problematic to suggest that a guy starts out investing at a certain weekly (or monthly) rate, and then to just presume that everything is fine with those numbers, and sure it is one thing to get started, and it is another thing for a guy to keep on building week after week after week, and surely any guy who is attempting to explore these kinds of sustainability matters is likely going to come to realize that many guys who are working with small numbers, they are going to likely have difficulties being consistent with their bitcoin investment, so hopefully, once they get started investing, they are ongoingly thinking about ways to both increasingly build their bitcoin investment and also to ongoingly protect their bitcoin investment by building and retaining back up funds.  

I get the angle you are coming from sir.....Lots of folks get too over excited to investing Bitcoin without even considering how their current situation could affect their ability to stay consistent in the long run...Sure it very good to start buying Bitcoin as soon as possible but in the course of the journey it is also necessary that these folks build up a system that will protect their investments the very moment when life begins to feel unpleasant... And folks can build this system that can protection their investments, by adopting the habits of learning to adjust where necessary(flexibility in their investing amount/size), by also saving( back up funds), by cutting off any unnecessary expenses in order to remain steady...

Starting a weekly or monthly Bitcoin plan sounds simple but staying consistent is the real challenge. A lot of people begin with excitement then reality shows them that small income and unstable budgets make long term investing hard. Anyone who works with small numbers eventually faces weeks where they cannot buy and that is normal. The important part is not forcing a fixed amount but learning how to adjust while still protecting the overall goal. Consistency is not about buying the same amount all the time but about staying in the habit without breaking your finances.

Most people get excited about investing before checking if their life situation can support long term commitment. It is good to start early but you also need a system that shields the investment when life gets rough. Many people fail not because Bitcoin is difficult but because their personal finances collapse around them. The moment life pressure rises their investment stops and sometimes they even sell their holdings. A protective system comes from flexibility and discipline. Adjust the amount when income changes. Keep backup funds so you never touch your Bitcoin when emergencies appear. Cut unnecessary expenses so you stay steady even in bad months. This is how someone with a small budget survives the long journey and still builds something that grows over time.

Investing in Bitcoin is not a do or die affair, once it's looking like your finances is becoming Shaky, it's better you pause for a little while pending when things are back to normal then you continue with your strategy, investment in Bitcoin is something you should do with ease that is why discretionary income plays a key role.  once your finances collapse the best is to strategize and not sell your holdings, you can rely on your emergency funds for some of the situation that may seem dire to you.

[yixichloro2xx]

Yes with such amount you can still invest though, but in a very slow rate but still better that not investing at all if anyone found themselves in such situation is best they find ways to step up their game (to increase their in come and sources ) and same time reducing expenditure, learning how to prioritise "need" more from "want "

Bro let's be realistic, how is it still possible to invest with that kind of low salary? You should know better, because we are from the same country $50 X 1444 (exchange rate) = 72, 200  naira per month. Let's say he has one kid and a wife (most Nigerian wife are full time house wives who don't work). Let put his monthly feeding cost to be 25,000 naira(it should be higher because food prices is very high) ,  Transportation to his workplace 10,000 naira monthly, assume is rent is 12,000 naira per month, utilities like water and electricity 5,000 naira per month. So calculated total is = 52,000 naira remaining 20,200 naira in his total balance. Now he hasn't even separated his emergency funds, reserve funds, his kid school fees and upkeeping, his wife up keeping and even his own upkeeping too. So how will he still be able to invest in Bitcoin.

[POPOLUV]

You have a point, but for bitcoin investment, when someone made up is mind and decide to invest in bitcoin, what really make the investment to move forward is stable income,  because once you have stable sources the investment becomes easier to set aside a reasonable amount regularly without causing any problems to your daily activities or life, it also reduce the chance of fear to sell your bitcoin investment whenever the price drops, because you are not depending on that money to survive, so to have a stable sources is very necessary, is part of bitcoin investment before thinking of any other things, because bitcoin is a long term investment that has to do with patience and consistency, if your sources is not strong how will the person meet up with basic needs?  Whenever the person have a emergency, That may put unnecessary pressure that you don't even expect.

But, bitcoin investment often works, when your sources of income is stable income, emergency funds and no any pressure on money you invest, that can help you to hold for long term and also benefit from bitcoin without any stress.

You don't need a stable income to get started, neither do you need a stable income to keep your bitcoin investment ongoing. What you need is a discretionary income to start your bitcoin investment and a regular discretionary income to keep your bitcoin accumulation ongoing. Discretionary income is the extra cash that you can use to do whatever you like without it affecting your standard of living.

There are some folks that have stable income but have no discretionary income because their income is smaller to meet up with basic needs and monthly expenses. If you don't have a regular discretionary, you can invest whenever, your discretionary income is ready and gradually work on improving your income by getting a second job or learning a skill which you can use to generate more money so that you can have a regular discretionary income and keep your bitcoin accumulation ongoing with DCA.

A lot of new investors misunderstand what's required to start investing in bitcoin. Some of them have discretionary income but they think that's it's only when they have a stable job that they can start investing which is wrong.

This is common misconception of people that they really need to have stable income to start. But actually what they need is money they can afford to spend and everything will follow. For sure that they won't let their selves starve so they provably find opportunities outside or even online to get decent amount of income. So those extra funds or discretionary income left is good to use for investment matters.

The problem is lots of people don't have discretionary income since they messed a lot with their spending habits. They didn't have proper financial management that's why they suffer and hard to cater up other things like investment matters. They can avoid getting issue if they just pay attention on their start up and don't get stress on other distraction or misleading opinions.

Also to avoid getting to much issues much better if they live according to their means. Then focus for growth by having investment since once they put money on great assets like Bitcoin there's provably good chance that they can earn good results.

Some people do not have much if any discretionary income based on where they live and also potentially based on their age/health and various life paths that they had chosen that had ended up keeping them in a situation in which they have little to no discretionary income.

It is hard to know the possibilities for other folks and surely some folks have so much poverty in their youth that it becomes difficult or nearly impossible to pursue higher paying type work so poor people may well need to be way more organized and resourceful to get their income situation to a place that is even close to comparable to some folks who might have had starting points with more resources.

We cannot necessarily change a person's starting point or where they might be when they first hear about bitcoin, yet a person who does not have many resources may well need to put a lot more work into organizing their life and their finances (and even their psychology) as compared with people who might be starting from better positions.

And, yeah, there are likely some folks who have such bad pay and working conditions that they might have difficulties figuring out how to learn about bitcoin and/or getting access to information about bitcoin - even though frequently we presume that more and more folks have access to the internet, yet it still can be challenging for some folks to both figure out bitcoin and also to figure out ways to source their bitcoin, including ways that they can increase their income, energies and time available to be able to learn how to invest in bitcoin and to also put their learnings into practice perhaps with a lot of dedication especially for folks who might be working with low amounts of discretionary income.

This is the major reason why some folks are still finding it very to be regulating there method of buying Bitcoin even as DCA strategy has make life easier when it comes to buying and accumulating Bitcoin gradually by gradually, yet the environment that some folks find themselves has make them not to be having discretionary income regularly, i understand that sometimes condition or situation of things can make an investors to embark on what he knows that the risks involved in such action is 50-50 chance, yet he will still proceed just try to a different and pave his way out from poverty, i will advise to all investors that might find themselves such environment to never give up upon themselves but keep pushing consistently and accumulate Bitcoin once your discretionary income comes.

[Crytohillss]

You have a point, but for bitcoin investment, when someone made up is mind and decide to invest in bitcoin, what really make the investment to move forward is stable income,  because once you have stable sources the investment becomes easier to set aside a reasonable amount regularly without causing any problems to your daily activities or life, it also reduce the chance of fear to sell your bitcoin investment whenever the price drops, because you are not depending on that money to survive, so to have a stable sources is very necessary, is part of bitcoin investment before thinking of any other things, because bitcoin is a long term investment that has to do with patience and consistency, if your sources is not strong how will the person meet up with basic needs?  Whenever the person have a emergency, That may put unnecessary pressure that you don't even expect.

But, bitcoin investment often works, when your sources of income is stable income, emergency funds and no any pressure on money you invest, that can help you to hold for long term and also benefit from bitcoin without any stress.

You don't need a stable income to get started, neither do you need a stable income to keep your bitcoin investment ongoing. What you need is a discretionary income to start your bitcoin investment and a regular discretionary income to keep your bitcoin accumulation ongoing. Discretionary income is the extra cash that you can use to do whatever you like without it affecting your standard of living.

There are some folks that have stable income but have no discretionary income because their income is smaller to meet up with basic needs and monthly expenses. If you don't have a regular discretionary, you can invest whenever, your discretionary income is ready and gradually work on improving your income by getting a second job or learning a skill which you can use to generate more money so that you can have a regular discretionary income and keep your bitcoin accumulation ongoing with DCA.

A lot of new investors misunderstand what's required to start investing in bitcoin. Some of them have discretionary income but they think that's it's only when they have a stable job that they can start investing which is wrong.

This is common misconception of people that they really need to have stable income to start. But actually what they need is money they can afford to spend and everything will follow. For sure that they won't let their selves starve so they provably find opportunities outside or even online to get decent amount of income. So those extra funds or discretionary income left is good to use for investment matters.

The problem is lots of people don't have discretionary income since they messed a lot with their spending habits. They didn't have proper financial management that's why they suffer and hard to cater up other things like investment matters. They can avoid getting issue if they just pay attention on their start up and don't get stress on other distraction or misleading opinions.

Also to avoid getting to much issues much better if they live according to their means. Then focus for growth by having investment since once they put money on great assets like Bitcoin there's provably good chance that they can earn good results.

Some people do not have much if any discretionary income based on where they live and also potentially based on their age/health and various life paths that they had chosen that had ended up keeping them in a situation in which they have little to no discretionary income.

It is hard to know the possibilities for other folks and surely some folks have so much poverty in their youth that it becomes difficult or nearly impossible to pursue higher paying type work so poor people may well need to be way more organized and resourceful to get their income situation to a place that is even close to comparable to some folks who might have had starting points with more resources.

We cannot necessarily change a person's starting point or where they might be when they first hear about bitcoin, yet a person who does not have many resources may well need to put a lot more work into organizing their life and their finances (and even their psychology) as compared with people who might be starting from better positions.

And, yeah, there are likely some folks who have such bad pay and working conditions that they might have difficulties figuring out how to learn about bitcoin and/or getting access to information about bitcoin - even though frequently we presume that more and more folks have access to the internet, yet it still can be challenging for some folks to both figure out bitcoin and also to figure out ways to source their bitcoin, including ways that they can increase their income, energies and time available to be able to learn how to invest in bitcoin and to also put their learnings into practice perhaps with a lot of dedication especially for folks who might be working with low amounts of discretionary income.

Personally, I think that it can be problematic to suggest that a guy starts out investing at a certain weekly (or monthly) rate, and then to just presume that everything is fine with those numbers, and sure it is one thing to get started, and it is another thing for a guy to keep on building week after week after week, and surely any guy who is attempting to explore these kinds of sustainability matters is likely going to come to realize that many guys who are working with small numbers, they are going to likely have difficulties being consistent with their bitcoin investment, so hopefully, once they get started investing, they are ongoingly thinking about ways to both increasingly build their bitcoin investment and also to ongoingly protect their bitcoin investment by building and retaining back up funds.  

I get the angle you are coming from sir.....Lots of folks get too over excited to investing Bitcoin without even considering how their current situation could affect their ability to stay consistent in the long run...Sure it very good to start buying Bitcoin as soon as possible but in the course of the journey it is also necessary that these folks build up a system that will protect their investments the very moment when life begins to feel unpleasant... And folks can build this system that can protection their investments, by adopting the habits of learning to adjust where necessary(flexibility in their investing amount/size), by also saving( back up funds), by cutting off any unnecessary expenses in order to remain steady...

Yep.  Each person needs to put systems in place and to reinforce their mindset in positive ways so that they are able to continue to build their bitcoin holdings and to resist from tapping into their bitcoin in ways that end up hurting them in the longer run, even if they end up getting gratification in the shorter run..

Sometimes I am not sure if deferred gratification can be learned, since it seems that some folks are more easily able to organize themselves and to defer their gratification as compared with other people... so if we already know that we have tendencies to not be able to defer gratification, we likely need to figure out ways to put systems and practices in place so that our tendencies towards lacking in patience does not end up contributing towards our tapping into our bitcoin investment prematurely and/or other practices that involve failure/refusal to sufficiently/adequately continue in our bitcoin stacking (accumulation).

having a steady income really does make a big difference when it comes to investing in bitcoin when your basic needs are covered it is so much easier to stay consistent and not panic whenever the market dips.  so many people underestimate how important financial stability is before going into crypto it's not just about buying bitcoin it's about being able to hold it without stressing every time life throws an emergency your way , patience and consistency only work when you are not depending on that money to survive.

[JayJuanGee]

[edited out]

having a steady income really does make a big difference when it comes to investing in bitcoin when your basic needs are covered it is so much easier to stay consistent and not panic whenever the market dips. 

Sure.  Steady income and expenses is likely helpful to be able to consistently buy bitcoin and even plan ahead to buy bitcoin, such as on a weekly basis... and yeah, there can sometimes be inconsistencies with the income and/or with the expenses, yet if there is some steady income, then some preparations can be put in place in order to account for the inconsistencies... and yeah, over a period of 4-10 years or longer there might be periods in which the cashflow situation is better than other periods.. and we might even have some periods in which we have to scramble to make sure that our income is higher than our expenses and to make sure that our back up funds do not fall below certain levels that we consider to be sufficiently adequate.

so many people underestimate how important financial stability is before going into crypto it's not just about buying bitcoin it's about being able to hold it without stressing every time life throws an emergency your way , patience and consistency only work when you are not depending on that money to survive.

Hopefully none of us are so retarded as to be buying shitcoins with money that we should be using to buy bitcoin.

[wmaurik]

having a steady income really does make a big difference when it comes to investing in bitcoin when your basic needs are covered it is so much easier to stay consistent and not panic whenever the market dips.  so many people underestimate how important financial stability is before going into crypto it's not just about buying bitcoin it's about being able to hold it without stressing every time life throws an emergency your way , patience and consistency only work when you are not depending on that money to survive.

Why do you call it the crypto world?
If you're suggesting investing in Bitcoin for the long term, which requires a certain level of patience and consistency from each investor, then you can call it the investment world without using the word crypto because, fundamentally, every investor needs a more stable income stream. This allows investors to know how much money they have left over and not diverted to other things after they've covered all their living expenses, including their monthly bills. So, in terms of capital and a more stable income, these are indeed important things, and everyone will always remember them because they are the primary capital before anyone undertakes anything else, such as investing.

[PhilosopherKing]

[Edited out from]

Sure.  Steady income and expenses is likely helpful to be able to consistently buy bitcoin and even plan ahead to buy bitcoin, such as on a weekly basis... and yeah, there can sometimes be inconsistencies with the income and/or with the expenses, yet if there is some steady income, then some preparations can be put in place in order to account for the inconsistencies... and yeah, over a period of 4-10 years or longer there might be periods in which the cashflow situation is better than other periods.. and we might even have some periods in which we have to scramble to make sure that our income is higher than our expenses and to make sure that our back up funds do not fall below certain levels that we consider to be sufficiently adequate.

For any person trying to build a long term and strong position in bitcoin, they must be prepared to remain consistent without freaking out anytime they are faced with some inconsistentcy bullshit. Just as you validly pointed out Master Jay, there will be some month that will be smooth in our financial life, like an increased income or some rewards from our work place, and there will also be some month that will be rough, like a job loss or you getting an underpaid income, but all these are a normal things in life. And due to the normalcy of this inconsistentcies in life, investors should always be open for such occurrences and be ready to adjust their investments amount in order for it to pair with their present financial situation rather than giving up the very moment things gets tight.  Even the act of them saving up some little extra money when times are favourable can help a lot especially during the rough times. In the face of this inconsistentcies of life people isn't always mandated to be always perfect, but yet it is also still necessary for them to always have a means of handling this inconsistentcies without it messing their whole plan in the process