Buy Buy Buy or Sell Sell Sell?

[Padi24]

You are right. An investor doesn't needs to have a stable source of income before they start investing in bitcoin. The most important thing before starting to invest in bitcoin is to be able to figure out if they have discretionary income to invest with. Those that their income isn't stable, can still buy bitcoin by using whatever amount of discretionary they have available.
Even those that have a stable source of income, may still not be able to invest if they are unable to figure out there discretionary ,  as most folks may end up spending money unnecessarily. So a good financial management is far more important than a stable source of income.
Those that doesn't have a stable income may find it difficult to figure out there discretionary and should avoid doing DCA with a fixed amount.

Having a stable source of income is fine, but it is not a must that every body must have a stable source of income before venturing into bitcoin investment. However, no matter how your cash flow looks like whether it's steady or slow so Long as it is enough to cover Thier expenses and still remain some leftover then it's fine, they don't need to bother themselves too much again unless they still have the energy or the capacity to look for more job to add it together with Thier current job. but if what they are  doing is giving them a reasonable amount of money even though it does not come all the time maybe weekly or monthly so long as it can cover Thier expenses and still remains a leftover I would say that they are in a better position to start investing in bitcoin. It is only those that does not have any source of getting money that may be finding it difficult to invest in bitcoin, because since they don't have any source of getting money apart from seeking for help from families and if they eventually get support from them they will have to use the money to sort Thier basic necessities but a time will come when they will want to cheer up and start working hard so as to enable them meet up Thier expenses and also try to focus on achieving Thier goal or target such as bitcoin investment.

[Charcol]

We need to make investments consistently. When you break up once, you will not be able to carry out your long-term goal. As a result, maintaining consistency in investing requires exercising self-control.

This is your misconception. Our lives and expenses do not follow a fixed schedule. Your expenses are not the same every month. If your medical expenses, family needs or any other urgent expenses increase, then you may not have discretionary income. Then if you buy only with the necessary money to show consistency and think that you are disciplined, then you are making a mistake. This is not called discipline. Rather, discipline is to keep your long-term plan within your means and start buying again when discretionary income comes.

Because you have the DCA facility in Bitcoin, your average purchase price lowers at the end of each day.

No, the average purchase price will not decrease every time you buy regularly. If you get the opportunity to buy at a new lower price than the previous purchase price, then the average will decrease. But the price of Bitcoin does not always decrease. If your purchase price increases day by day, then the average purchase price may increase. Buying regularly does not mean that you will get it at a lower price every time. Rather, you have the opportunity to buy without relying on finding the perfect price.

[Agbam]

You are not far from the truth or should I just say that you are correct. I have always advocated that for someone to decide to invest in bitcoin, you must have a steady income because I feel that makes it easy for the investor. When you have a steady income, you can easily plan yourself by taking out ther expenses and know what is left for discretionary income, which you can use for bitcoin investment.  I believe that this makes it easier for any investor and it also allows you to be consistent in bitcoin accumulation.

A stable income is not necessary to invest in Bitcoin, rather a person with a volatile income can also invest. The income that is required to invest is a source of discretionary income. If a person is able to find a discretionary income through proper financial management, then he can definitely invest.

There are many people whose source of income is not stable but they are able to find a discretionary income through proper financial management and continue to invest continuously, again there are many people whose income is stable but they are not able to manage their financial situation properly and are failing to find a source of discretionary income. However, yes, there are some people whose income is less or more but they fail to manage their money properly or reduce the amount of expenses, such people need to move forward with what they have.

I think that we should give proper attention to how we explain things or in our writing in the way we phrase things, try and make use of the correct words in order not to distort the information we’re trying to pass.

A stable income might not be the only thing or the core requirement for investing but you can’t say it’s not necessary, it’s very vital and important we have a stable source of income as it makes investing, budgeting and planning much more easier.

I agree that what’s used in investing is discretionary income and if someone with an unstable source can surely invest if they manage their finances well. However, if we compare two investors of same financial discipline, one with a stable income and the other with an unstable income, the stable income is more likely to perform better and consistently invest in the long term.

I’ll say discretionary income is an immediate requirement for investing in bitcoin but a stable income holds a significant advantage.

[The Founding Titan]

You are not far from the truth or should I just say that you are correct. I have always advocated that for someone to decide to invest in bitcoin, you must have a steady income because I feel that makes it easy for the investor. When you have a steady income, you can easily plan yourself by taking out ther expenses and know what is left for discretionary income, which you can use for bitcoin investment.  I believe that this makes it easier for any investor and it also allows you to be consistent in bitcoin accumulation.

A stable income is not necessary to invest in Bitcoin, rather a person with a volatile income can also invest. The income that is required to invest is a source of discretionary income. If a person is able to find a discretionary income through proper financial management, then he can definitely invest.

There are many people whose source of income is not stable but they are able to find a discretionary income through proper financial management and continue to invest continuously, again there are many people whose income is stable but they are not able to manage their financial situation properly and are failing to find a source of discretionary income. However, yes, there are some people whose income is less or more but they fail to manage their money properly or reduce the amount of expenses, such people need to move forward with what they have.

I think that we should give proper attention to how we explain things or in our writing in the way we phrase things, try and make use of the correct words in order not to distort the information we’re trying to pass.

A stable income might not be the only thing or the core requirement for investing but you can’t say it’s not necessary, it’s very vital and important we have a stable source of income as it makes investing, budgeting and planning much more easier.

I agree that what’s used in investing is discretionary income and if someone with an unstable source can surely invest if they manage their finances well. However, if we compare two investors of same financial discipline, one with a stable income and the other with an unstable income, the stable income is more likely to perform better and consistently invest in the long term.

I’ll say discretionary income is an immediate requirement for investing in bitcoin but a stable income holds a significant advantage.

By your own phrasing then you are saying a person needs a stable income to be able to invest in bitcoin and if that's what you are saying then you are wrong, someone doesn't need to have a stable income but rather need their discretionary income there are people who aren't necessarily earning but are able to generate discretionary income, like a student who's having all of his needs paid for and is still recieving an allowance to do whatever else they want to do, they can definitely decide to buy bitcoin with that allowance as it qualifies as their discretionary income.

[Ruttoshi]

I’ll say discretionary income is an immediate requirement for investing in bitcoin but a stable income holds a significant advantage.

You should be more specific on saying stable discretionary income because you might have a stable job with no discretionary income because your job is from hand to mouth and barely takes care of your monthly expenses.

I do use a contractor to give an example of people who can be consistent with their bitcoin investment without stable income because he can have only two contracts in a year with big discretionary income that he can use part of it to spread over the weeks and possibly front load his bitcoin investment.

What a long term bitcoin investor needs to survive and be consistent with his bitcoin accumulation in the long run is a stable income that has a discretionary income but not a criterion to get started.

[JayJuanGee]

You are not far from the truth or should I just say that you are correct. I have always advocated that for someone to decide to invest in bitcoin, you must have a steady income because I feel that makes it easy for the investor. When you have a steady income, you can easily plan yourself by taking out ther expenses and know what is left for discretionary income, which you can use for bitcoin investment.  I believe that this makes it easier for any investor and it also allows you to be consistent in bitcoin accumulation.

A stable income is not necessary to invest in Bitcoin, rather a person with a volatile income can also invest. The income that is required to invest is a source of discretionary income. If a person is able to find a discretionary income through proper financial management, then he can definitely invest.

There are many people whose source of income is not stable but they are able to find a discretionary income through proper financial management and continue to invest continuously, again there are many people whose income is stable but they are not able to manage their financial situation properly and are failing to find a source of discretionary income. However, yes, there are some people whose income is less or more but they fail to manage their money properly or reduce the amount of expenses, such people need to move forward with what they have.

I think that we should give proper attention to how we explain things or in our writing in the way we phrase things, try and make use of the correct words in order not to distort the information we’re trying to pass.

A stable income might not be the only thing or the core requirement for investing but you can’t say it’s not necessary, it’s very vital and important we have a stable source of income as it makes investing, budgeting and planning much more easier.

You said it yourself @Agbam.  A stable source of income makes things easier, yet that does not mean that a stable income is required to either get started buying bitcoin or to continue to invest in bitcoin.  What you need to get started is discretionary funds, and each time you buy bitcoin, you need discretionary funds.  A stable source of income is nice, but it is not required in order to invest in bitcoin.

I agree that what’s used in investing is discretionary income and if someone with an unstable source can surely invest if they manage their finances well. However, if we compare two investors of same financial discipline, one with a stable income and the other with an unstable income, the stable income is more likely to perform better and consistently invest in the long term.

Yes. Many times it is better to have a stable source of income than not, yet the mere fact that it is nice and/or better to have a stable source of income, that does not mean that a stable source of income is required in order to either buy bitcoin or to buy bitcoin regularly.

I’ll say discretionary income is an immediate requirement for investing in bitcoin but a stable income holds a significant advantage.

You are making the whole matter confusing.  Discretionary funds are required.  A stable source of income is not required, even though it is nice to have.  There is a difference, and even you seem to recognize it, even though you are arguing about it.

[I_Anime]

There is nothing wrong in been consistent and it is also key but your consistency should be done correctly and in the right way because if someone is consistent with their Bitcoin investment because of the fact they said one should use what they can afford to lose and one is investing with a small amount of money,  their consistency won't really amounb to something reasonable, the DCA method will only minimize risk if someone doesn't abuse it.

It should not just be about small amounts, but it should be discretionary, I.e any amount that an investor can come up with after sorting out his/her basic needs. It might be small, medium, or even a huge amount... But discretionary income remains discretionary, and it is subjective to everyone. But the main idea or goals should be soley all about trying to Invest for as long as possible, based on the designated number of years. Quality investment can be achieved when an Investor is willing to do it for long, and also the amount of discretionary income that he/she can accumulate with overtime_{(i.e, during the time of Investment)}.

Some folks do mistake money they can risk as discretionary income. I’ve seen some folks will be like invest what you can afford to lose , does it mean that the person is talking about discretionary income?  , nahh they are both two different thing , “money you can afford to lose “ is a portion of discretionary income. Discretionary income is the left over income after handling your essentials expenses, that doesn’t mean you will invest with all your discretionary income , because that’s where your emergency funds and reserve funds are gotten from . Which means you will have to share your discretionary income into different percentages (for your emergency and reserve funds ) same with the money you want to use to invest.

[Agbam]

I think that we should give proper attention to how we explain things or in our writing in the way we phrase things, try and make use of the correct words in order not to distort the information we’re trying to pass.

A stable income might not be the only thing or the core requirement for investing but you can’t say it’s not necessary, it’s very vital and important we have a stable source of income as it makes investing, budgeting and planning much more easier.

You said it yourself @Agbam.  A stable source of income makes things easier, yet that does not mean that a stable income is required to either get started buying bitcoin or to continue to invest in bitcoin.  What you need to get started is discretionary funds, and each time you buy bitcoin, you need discretionary funds.  A stable source of income is nice, but it is not required in order to invest in bitcoin.

I agree that what’s used in investing is discretionary income and if someone with an unstable source can surely invest if they manage their finances well. However, if we compare two investors of same financial discipline, one with a stable income and the other with an unstable income, the stable income is more likely to perform better and consistently invest in the long term.

Yes. Many times it is better to have a stable source of income than not, yet the mere fact that it is nice and/or better to have a stable source of income, that does not mean that a stable source of income is required in order to either buy bitcoin or to buy bitcoin regularly.

I’ll say discretionary income is an immediate requirement for investing in bitcoin but a stable income holds a significant advantage.

You are making the whole matter confusing.  Discretionary funds are required.  A stable source of income is not required, even though it is nice to have.  There is a difference, and even you seem to recognize it, even though you are arguing about it.

I’m not trying to be confusing, I acknowledged that discretionary income is the prerequisite for investing in bitcoin. My argument is that a stable income source which provides discretionary income is better than having an unstable source of income that does the same.

Which is why I gave the example of; two investors of same financial discipline, one with an unstable source and the other with a stable source of income, when compared in the long run their portfolio outcome would be different because the investor with a stable source is in a better position to buy through different market conditions whereas the other with unstable source may pause or reduce his accumulation in periods of low income.

So my point isn’t that stable income is required or not. My point is that it has a significant advantage for maintaining consistency over the long term.

I see now I’ve fallen victim of my own lines….not explaining clearly.😔