Buy Buy Buy or Sell Sell Sell?

[Bigjoe33]

Usually,  income could be variable on certain occasions so it's advisable to set a particular percentage of whatever income for DCA; that would be after settling every important needs.

Setting a percentage for your DCA accumulation isn't a bad idea, but sometimes, it's better you leave it at a manual level where you get to choose the amount to invest at every week or month depending on your cash flow. The reason is that, sometimes, we can't really dictate our emergences. Sometimes, you might have a higher emergency and or demand or expenses, and at this point, if your DCA percentage is fixed, it becomes a problem meeting some of those emergency needs. But on the other hand, if it in manual, where you get to choose the amount, at such situations, you can comfortably adjust your buying amount to suit the situation. So a fixed amount might be an issue I'm such situations.

[ruykeri]

Usually,  income could be variable on certain occasions so it's advisable to set a particular percentage of whatever income for DCA; that would be after settling every important needs.

Setting a percentage for your DCA accumulation isn't a bad idea, but sometimes, it's better you leave it at a manual level where you get to choose the amount to invest at every week or month depending on your cash flow. The reason is that, sometimes, we can't really dictate our emergences. Sometimes, you might have a higher emergency and or demand or expenses, and at this point, if your DCA percentage is fixed, it becomes a problem meeting some of those emergency needs. But on the other hand, if it in manual, where you get to choose the amount, at such situations, you can comfortably adjust your buying amount to suit the situation. So a fixed amount might be an issue I'm such situations.

If someone does not have much volatility in their daily life expenses and their responsibilities are at a tolerable level, then a fixed amount DCA can be done regularly from discretionary income. But I support investing conveniently more than making the amount fixed. It is not just a matter of daily life expenses. In the case of investing in bitcoin, if you invest more amount while investing for a long time, it is easier to reach the goal quickly. So if you keep doing fixed amount DCA, this benefit will not be available. If at some point extra money comes, there will be no opportunity to buy more bitcoin with it. If you invest in Bitcoin conveniently, you can continue investing for a long time.. Even if there is no amount to DCA in a month or week, if for some reason the money is spent excessively, then even if the DCA is closed for a few days, there is no problem. The key to investing in Bitcoin is long-term accumulation. If this is done correctly, then investing in Bitcoin can be successful.

[Decimetre]

Usually,  income could be variable on certain occasions so it's advisable to set a particular percentage of whatever income for DCA; that would be after settling every important needs.

Setting a percentage for your DCA accumulation isn't a bad idea, but sometimes, it's better you leave it at a manual level where you get to choose the amount to invest at every week or month depending on your cash flow. The reason is that, sometimes, we can't really dictate our emergences. Sometimes, you might have a higher emergency and or demand or expenses, and at this point, if your DCA percentage is fixed, it becomes a problem meeting some of those emergency needs. But on the other hand, if it in manual, where you get to choose the amount, at such situations, you can comfortably adjust your buying amount to suit the situation. So a fixed amount might be an issue I'm such situations.

I think you may be misunderstanding some terms. Emergency situations are quite different from basic responsibilities. Emergency situations happen without control and does not necessarily restrict its occurrence to your payday or period. DCA strategy is planned based on your basic responsibilities which are those responsibilities you are obligated to attend to (fixed already by the virtue of your position or acceptance). As a weekly or monthly earner, you plan yourself based on your envisaged expenses which is not rigidly fixed so a little flexibility is also required.

If you have any emergency situations, that is the function of the emergency funds which you have been setting aside except if you have not been serious with it, then you have have problems with the emergency situation or if the emergency situation exceeds your emergency funds. In such case, you can still use your backup funds or your reserved funds so that you won't spend your bitcoin and also so that your DCA allocation may continue.

In the case of increased responsibilities, one can also reduce his DCA allocation except he has a proportional rise  in his income; It may also be the other way round, that a person's responsibilities will reduce and he will have to increase his investment amount. It all depends on the available discretionary income because bitcoin investment is not a do or die affair.

[Rebirth01]

It is important to keep your finances in order, to cover your daily expenses and your children's school expenses and various minor medical expenses and to ensure that you have enough savings in case of sudden danger and for future security. It is also important to have a clear long-term goal for investing in volatile assets like Bitcoin and it is a waste of time to wait for the perfect time where you can start from the present with your remaining money, the DCA strategy is effective. It works for both classes of people.

It is necessary to have a backup fund for investing in Bitcoin. Because it helps to solve sudden financial problems in any person's life, without having to sell Bitcoin holdings. In investing in Bitcoin, it is more important to hold or continue investing for a long time. But in most cases, people cannot hold for a long time due to the volatility of Bitcoin price. They make decisions like panic selling or force selling, which is really a loss for a long-term investor. Because if someone cannot invest in Bitcoin for a long time, then I don't think there is any need to waste money on Bitcoin for short-term trading. If someone enters Bitcoin with a long-term holding or accumulation mindset, then his chances of success are much higher.

It is so true about what you said, one have to be financially prudent. Day to day expenses is key to human survival like money for drugs, food,gas, electricity bill, snacks money for children when going to school, money for notebooks and biro for children etc. one need to save money in case of emergency. Bitcoin is so volatile and dangerous so investing in long term could be dangerous except you have some other investment that gives you daily returns. If you have other investment that gives you daily returns then maybe investing in long term investment will be okay.

[cyberninja2]

It is so true about what you said, one have to be financially prudent. Day to day expenses is key to human survival like money for drugs, food,gas, electricity bill, snacks money for children when going to school, money for notebooks and biro for children etc. one need to save money in case of emergency. Bitcoin is so volatile and dangerous so investing in long term could be dangerous except you have some other investment that gives you daily returns. If you have other investment that gives you daily returns then maybe investing in long term investment will be okay.

It depends on someone who knows how to manage their finances so that when they want to spend money they are sure to only spend what they need. Ultimately our daily lives will be more optimal in managing expenses only spending on necessities and not on desires. The very dangerous thing in investing is that sometimes we spend more of our money on things that are not useful for us, for example we are investing but in investing we already have profits but we sell a small part of the profits just to do with lifestyle for example buying luxury goods but these goods have no benefits for us so this often happens and is rarely fixed by everyone because it is difficult to fix because this has become a habit so that this is what leads us to have nothing for the future even though the goal of investing is good but following a lifestyle that leads us to a direction that cannot find the peak point of success.

[Stive009]

I think most of the newbies to this market do a huge wrong thing at the beginning. They spend more time predicting the direction the market will go than understanding their own financial condition. But one thing they don't understand is that no matter how good the buying option is in the market, if you don't have any cash in your pocket, that opportunity is of no use. Many people are seen to be very enthusiastic and pour all their money in as soon as the price drops a little, leaving nothing to back up later.
The real key to surviving in Bitcoin is your regular cash flow, budget and consistency. There will be price fluctuations, it cannot be stopped. But whether the market conditions are good or bad, whether you are able to invest regularly or not, at the end of the day, that is what makes the real difference.
In my opinion, the biggest advantage of investing according to a plan by following a rule is not buying cheaply, but its real advantage is that it reduces your tendency to make emotional decisions. Because if you think about it a little, you will understand that, more than market fluctuations, it is the wrong decisions made by people under the influence of emotions that become the biggest obstacle to long-term success.

[Umulala-alala]

It is important to keep your finances in order, to cover your daily expenses and your children's school expenses and various minor medical expenses and to ensure that you have enough savings in case of sudden danger and for future security. It is also important to have a clear long-term goal for investing in volatile assets like Bitcoin and it is a waste of time to wait for the perfect time where you can start from the present with your remaining money, the DCA strategy is effective. It works for both classes of people.

It is necessary to have a backup fund for investing in Bitcoin. Because it helps to solve sudden financial problems in any person's life, without having to sell Bitcoin holdings. In investing in Bitcoin, it is more important to hold or continue investing for a long time. But in most cases, people cannot hold for a long time due to the volatility of Bitcoin price. They make decisions like panic selling or force selling, which is really a loss for a long-term investor. Because if someone cannot invest in Bitcoin for a long time, then I don't think there is any need to waste money on Bitcoin for short-term trading. If someone enters Bitcoin with a long-term holding or accumulation mindset, then his chances of success are much higher.

It is so true about what you said, one have to be financially prudent. Day to day expenses is key to human survival like money for drugs, food,gas, electricity bill, snacks money for children when going to school, money for notebooks and biro for children etc. one need to save money in case of emergency. Bitcoin is so volatile and dangerous so investing in long term could be dangerous except you have some other investment that gives you daily returns. If you have other investment that gives you daily returns then maybe investing in long term investment will be okay.

Bitcoin is only volatile and not dangerous to invest in unless you are trader who always like short time things then you can actually say it dangerous and not for long time holdlers. Investing for a long time is absolutely the right way instead of trading for a short time. Bitcoin is a long time investment so i wonder were you learnt that it's dangerous to buy bitcoin and hodl for long, as a newbie who is investing in bitcoin you need to plan for a long time after you have your discretionary income available you can start buying bitcoin gradually using the dca strategy and hodl for long for about 4-10 years or more the most risk part and dangerous of it is investing for a short time trying to take profit when you needed to buying and holding.

[Kelward]

Usually,  income could be variable on certain occasions so it's advisable to set a particular percentage of whatever income for DCA; that would be after settling every important needs.

Setting a percentage for your DCA accumulation isn't a bad idea, but sometimes, it's better you leave it at a manual level where you get to choose the amount to invest at every week or month depending on your cash flow. The reason is that, sometimes, we can't really dictate our emergences. Sometimes, you might have a higher emergency and or demand or expenses, and at this point, if your DCA percentage is fixed, it becomes a problem meeting some of those emergency needs. But on the other hand, if it in manual, where you get to choose the amount, at such situations, you can comfortably adjust your buying amount to suit the situation. So a fixed amount might be an issue I'm such situations.

I believe that it is better to plan most of your fixed expenses in percentages so that you can be focused while allocating funds to them, if you don't have a percentage for your Bitcoin DCA accumulation you might not allocate what is appropriate for it. However Bitcoin accumulation is a discretionary want which doesn't depend on your survival and your must do list therefore the amount for accumulation shouldn't be rigid.

If there is a need to adjust it either to increase or reduce should be at your discretion. But unless there is a need to adjust the amount for your DCA accumulation it is better to allocate the amount from your discretionary funds based on percentage so there wouldn't be any distractions or wondering how much to buy with anything you're ready to buy.

[Sticky Bomb]

Usually,  income could be variable on certain occasions so it's advisable to set a particular percentage of whatever income for DCA; that would be after settling every important needs.

Setting a percentage for your DCA accumulation isn't a bad idea, but sometimes, it's better you leave it at a manual level where you get to choose the amount to invest at every week or month depending on your cash flow. The reason is that, sometimes, we can't really dictate our emergences. Sometimes, you might have a higher emergency and or demand or expenses, and at this point, if your DCA percentage is fixed, it becomes a problem meeting some of those emergency needs. But on the other hand, if it in manual, where you get to choose the amount, at such situations, you can comfortably adjust your buying amount to suit the situation. So a fixed amount might be an issue I'm such situations.

Emergency needs don't come all the time, be sure to plan for your expenses properly and not confusing your should be expenses for emergencies, emergencies are unforeseen circumstances which comes without warning or pre information and not responsibilities which you should've planned out properly when considering your expenses budget.

There is also a difference between setting the percentage of your discretionary income which you invest into bitcoin and setting a definite amount for it. Now if you plan investing 50% of your discretionary income, then even if you've $100 left after attending to your expenses, you'll still invest $50 into bitcoin and when expenses were high and you ended up with $40, you can still invest $20 into bitcoin which is still the 50% while you split others into backup fund and discretionary consumption with respect to the percentages you apportioned to them.

However, in the occasions you were don't have discretionary income after taking care of your expenses, then you don't need to invest in that period, you can always wait for the next period to continue your investment on availability of discretionary income still with your sharing formula.

[JayJuanGee]

A stable income allows us to invest according to our plans. If our income is not fixed it is very rare to achieve investment success because it is not completely stable and difficult to predict.

I understand your sentiment perfectly well, but I don't think that it's the most important thing because your income might be stable, but if you are unable to figure out your discretionary income, you will still not be able to invest in Bitcoin and be successful at it, because having a stable income doesn't guarantees that you can easily figure out your discretionary income from it.
Which is the main reason I believe that for you to invest in Bitcoin and be successful, figuring out your discretionary income should be a priority, not by having a stable income or not.

Even though having a stable income is not necessary in order to buy bitcoin, I would rather have a stable income rather than not having a stable income. 

Of course, there could be certain kinds of a jobs that guys do that are high paying, and so the high paying jobs can sometimes make up for the jobs that are stable yet pay a lot less... and yeah, in the end the availability of discretionary funds determines both if guys can invest and/or if they can continue to invest, and so if a guy is not sure if he is going to be paid in a week or maybe he won't be paid for up to 2 months, then the guy who is not sure if he is getting paid in the next 2 months, he has to make sure that he accounts for his expenses for the next 2 months before he would be able to conclude if he has any money left over that he could buy bitcoin with that money.

[Derekfunds]

A stable income allows us to invest according to our plans. If our income is not fixed it is very rare to achieve investment success because it is not completely stable and difficult to predict.

I understand your sentiment perfectly well, but I don't think that it's the most important thing because your income might be stable, but if you are unable to figure out your discretionary income, you will still not be able to invest in Bitcoin and be successful at it, because having a stable income doesn't guarantees that you can easily figure out your discretionary income from it.
Which is the main reason I believe that for you to invest in Bitcoin and be successful, figuring out your discretionary income should be a priority, not by having a stable income or not.

Even though having a stable income is not necessary in order to buy bitcoin, I would rather have a stable income rather than not having a stable income. 

Of course, there could be certain kinds of a jobs that guys do that are high paying, and so the high paying jobs can sometimes make up for the jobs that are stable yet pay a lot less... and yeah, in the end the availability of discretionary funds determines both if guys can invest and/or if they can continue to invest, and so if a guy is not sure if he is going to be paid in a week or maybe he won't be paid for up to 2 months, then the guy who is not sure if he is getting paid in the next 2 months, he has to make sure that he accounts for his expenses for the next 2 months before he would be able to conclude if he has any money left over that he could buy bitcoin with that money.

I totally agree with you, sometimes people misinterpret and misunderstood this stable source of income. The fact that it is not compulsory for someone to start their Bitcoin journey doesn't make it unnecessary or less important, there is a big advantage if someone has a stable source of income and has the right knowledge about Bitcoin which means that this folk will always be increasing or growing his or her portfolio all the time gradually because they will always have a discrestionary income unlike someone whose source of income is not stable.

[GIF-JOBS]

Regardless of how risk Bitcoin investment is, it is worth risking for because with a long term focus on investment there is certainly going to be be a favourable period to those that took the risk. And with the volatile nature of Bitcoin it is not advisable for someone without stable income to go into Bitcoin investment or put more assets than they can not afford to let go, to avoid stories during dip season, a person who is not mentally stable or emotional strong should avoid investing in Bitcoin, so they will not later discourage others with their experience resulting from their negligence. The volatility nature and value of Bitcoin is real, and it is for those who understand and still determined to take the risk.

I see your opinion and I accept that having a stable income shouldn't be the only requirement for Bitcoin investment, what matters here is whether anyone has disposable funds they can afford to leave invested without affecting their daily needs Yes individuals with irregular income may need to be a bit more cautious because their finances situation can change unexpected, Bitcoin is a long term run and investing cash that might be needed in the short term can cause unnecessary pressure.

In reality, many people can invest successfully in the long term even though their income is irregular, with proper budgeting, emergency funds, and risk management. The most important thing for investing in Bitcoin is not the type of income but the source of the investment money and financial capacity. Those who have irregular income can also invest. If someone receives money from family or relatives one-time or is a seasonal businessman who does not have a regular income, they can also invest in Bitcoin. The value is in understanding your financial capacity and planning accordingly and implementing it properly.

But I think we need to have a source of income, then we need to invest, I don't have a source of income, and then at such a time I won't have any money that I can hold on to in a stable way for the long term. So we need to have the basics first, like a basic understanding of Bitcoin, at least we need to have a source of income, because we need to invest with this income. Again, along with these, we also need an emergency fund to keep our investment safe in the long term, we also need to be careful about this, although it is not necessary to create an emergency fund before investing, but after all, we must have a source of income for these.

[Charcol]

Could there be any difference between learning little about Bitcoin and having a basic knowledge of Bitcoin and of course with a discretionary income so you can start your Bitcoin investment? You guys are just saying the same thing if you ask me because learning little about bitcoin is more like not getting in to something that you completely have zero knowledge about which is the same thing as having a basic knowledge of something before getting started and that which we have always being talking about for anyone to get started with a discretionary income.

It has been discussed repeatedly here that it is not right to make basic knowledge a requirement for beginners at the beginning of investing. Because if you present basic knowledge as a mandatory condition to someone who wants to start on the first day, then there is a possibility that he will not start trying to find basic knowledge. Although we know that by starting, one can learn about Bitcoin well through practical experience. But whenever you tell him to learn basic knowledge first, when he tries to learn without starting, he will never be able to learn from practical experience. There is a huge difference between learning by research and learning from practical experience. And if someone wants to start Bitcoin, what he needs is discretionary income. If someone has discretionary income, he can start. Because of course, after starting, there will be enough good time to learn.

[SmartCharpa]

A stable income allows us to invest according to our plans. If our income is not fixed it is very rare to achieve investment success because it is not completely stable and difficult to predict.

I understand your sentiment perfectly well, but I don't think that it's the most important thing because your income might be stable, but if you are unable to figure out your discretionary income, you will still not be able to invest in Bitcoin and be successful at it, because having a stable income doesn't guarantees that you can easily figure out your discretionary income from it.
Which is the main reason I believe that for you to invest in Bitcoin and be successful, figuring out your discretionary income should be a priority, not by having a stable income or not.

You’re right, having a discretionary income should always be our priority in bitcoin, whether we are financially stable or not. As long as you can set aside a discretionary income from what you are earning, then I am sure that you will succeed with your investment. A guy can a have a stable income, yet find it difficult to future out a discretionary fund from their income due to their high expenses.

It is so true about what you said, one have to be financially prudent. Day to day expenses is key to human survival like money for drugs, food,gas, electricity bill, snacks money for children when going to school, money for notebooks and biro for children etc. one need to save money in case of emergency. Bitcoin is so volatile and dangerous so investing in long term could be dangerous except you have some other investment that gives you daily returns. If you have other investment that gives you daily returns then maybe investing in long term investment will be okay.

It depends on someone who knows how to manage their finances so that when they want to spend money they are sure to only spend what they need. Ultimately our daily lives will be more optimal in managing expenses only spending on necessities and not on desires. The very dangerous thing in investing is that sometimes we spend more of our money on things that are not useful for us, for example we are investing but in investing we already have profits but we sell a small part of the profits just to do with lifestyle for example buying luxury goods but these goods have no benefits for us so this often happens and is rarely fixed by everyone because it is difficult to fix because this has become a habit so that this is what leads us to have nothing for the future even though the goal of investing is good but following a lifestyle that leads us to a direction that cannot find the peak point of success.

If someone finds it difficult to maintain their investment strategy due to high expenses, they can cut down their expenses in order to continue buying. Buying unnecessary things will only cost an investor more money, and at some point, they may find it difficult to set aside discretionary income because of high expenses. Having a high expenses, you will skip some months or weeks, depending on your plan, because of those expenses. Long term investment is all about consistency, patience, and discipline.

[Gallar]

Am investor must not have a stable income before they can start accumulating bitcoin. Infact not having a stable source of income shouldn't be the reason why anyone should not invest in bitcoin. The most important thing is if they have discretionary income to invest with because it will be very bad for them to used money for there expenses and invest it in bitcoin.
As for those with irregular income they should be careful in other not to used money that is not there discretionary income for investing in bitcoin and putting themselves into unnecessary pressures.

Yes, you're absolutely right, my friend. If the context is simply to start investing in Bitcoin, we don't need to have a steady income first. Basically, to take the first step, we don't need to take a big step, because that's clearly not a good idea. Basically, we'll definitely be feeling our way around investing in Bitcoin. Therefore, when we start investing in Bitcoin, we don't need to start perfectly or with a lot of money if we don't have any.

Just have discretionary funds, perhaps enough to deposit on an exchange and buy Bitcoin. Basically, I think starting that step is already good, because if we already have that, we just need to figure out how to have a better income. It's undeniable that investing requires capital, and our lives also require money. Therefore, trying to find a more stable and higher income is absolutely necessary. So that our lives feel comfortable and our Bitcoin investments can also run smoothly.

[Cyber_warrior]

Am investor must not have a stable income before they can start accumulating bitcoin. Infact not having a stable source of income shouldn't be the reason why anyone should not invest in bitcoin. The most important thing is if they have discretionary income to invest with because it will be very bad for them to used money for there expenses and invest it in bitcoin.
As for those with irregular income they should be careful in other not to used money that is not there discretionary income for investing in bitcoin and putting themselves into unnecessary pressures.

Yes, you're absolutely right, my friend. If the context is simply to start investing in Bitcoin, we don't need to have a steady income first. Basically, to take the first step, we don't need to take a big step, because that's clearly not a good idea. Basically, we'll definitely be feeling our way around investing in Bitcoin. Therefore, when we start investing in Bitcoin, we don't need to start perfectly or with a lot of money if we don't have any.

Just have discretionary funds, perhaps enough to deposit on an exchange and buy Bitcoin. Basically, I think starting that step is already good, because if we already have that, we just need to figure out how to have a better income. It's undeniable that investing requires capital, and our lives also require money. Therefore, trying to find a more stable and higher income is absolutely necessary. So that our lives feel comfortable and our Bitcoin investments can also run smoothly.

Don’t delay your bitcoin journey for any reason, in as much as you have a discretionary income your can begin your investment journey, but also, remember that having a stable income will make the journey easy for you, it helps you making the right decisions and it also makes you make provisions for emergency funds and reserve funds.
So when you begin your bitcoin journey with unstable income should try as much as possible to look for other means of getting financial stability to help enhance a good bitcoin journey for you.

[Proty]

Could there be any difference between learning little about Bitcoin and having a basic knowledge of Bitcoin and of course with a discretionary income so you can start your Bitcoin investment? You guys are just saying the same thing if you ask me because learning little about bitcoin is more like not getting in to something that you completely have zero knowledge about which is the same thing as having a basic knowledge of something before getting started and that which we have always being talking about for anyone to get started with a discretionary income.

It has been discussed repeatedly here that it is not right to make basic knowledge a requirement for beginners at the beginning of investing. Because if you present basic knowledge as a mandatory condition to someone who wants to start on the first day, then there is a possibility that he will not start trying to find basic knowledge. Although we know that by starting, one can learn about Bitcoin well through practical experience. But whenever you tell him to learn basic knowledge first, when he tries to learn without starting, he will never be able to learn from practical experience. There is a huge difference between learning by research and learning from practical experience. And if someone wants to start Bitcoin, what he needs is discretionary income. If someone has discretionary income, he can start. Because of course, after starting, there will be enough good time to learn.

As far starting of bitcoin investment is concerned having a basic knowledge isn't a requirement as per getting started but rather the ability to be able to figure out the availability of discretionary income to start with. I believe with common sense a beginner can be able to figure there way on the things that they need in other to get started. Therefore, basic knowledge shouldn't be a prequisite for anyone that wants to start investing in bitcoin but rather discretionary income.