Buy Buy Buy or Sell Sell Sell?

[GIF-JOBS]

These are also matters of preparation. Because an investor can panic even if he has a long-term goal if he invests more money than he can afford.

This an important distinction, planning ahead for a dip don’t means always trying to keep money aside just to but at a lower price. It can also mean that when market becomes very volatile your financial situation will be strong enough to be able to continue your normal DCA.

If in any case because of a dip puts pressure on ones finances and you stops selling or buying their bitcoin. Then problem might not be on the dip but rather on the amount they were investing from the first place.

Many people set aside cash in advance to buy more when the market falls. In the case of DCA, it is important to keep your financial position in such a way that it is possible to continue with your normal investment plan even if the market is unstable. It is necessary to accept that the price may fall at the beginning of the investment. If an investor thinks that it is no longer possible to invest when the market falls by 20%, 30% or more, then blaming the market decline alone does not explain the whole matter. It is necessary to see whether he invested an amount of money that was more than his normal financial capacity in the beginning.

When determining the amount of DCA, you should give more importance to your income, necessary expenses and surplus money on hand. Then, even if there is a major correction in the market, you will not have to face the pressure of selling that Bitcoin to meet your daily needs. As a result, market instability cannot easily ruin the plan. Have a plan so that even if the market is bad, your necessary money, emergency savings and normal DCA do not conflict with each other.

[Baki202]

Many people set aside cash in advance to buy more when the market falls. In the case of DCA, it is important to keep your financial position in such a way that it is possible to continue with your normal investment plan even if the market is unstable. It is necessary to accept that the price may fall at the beginning of the investment. If an investor thinks that it is no longer possible to invest when the market falls by 20%, 30% or more, then blaming the market decline alone does not explain the whole matter. It is necessary to see whether he invested an amount of money that was more than his normal financial capacity in the beginning.

Everyone has their own strategy of addressing the market, and just like you said, some people will prefer to buy the dip and all costs to the extent they are keeping cash, and everyone has an investment plan, and it won't be a bad idea if everyone knows what is best for them. And that is why, before you begin to invest, you have to understand what you need to do because most people just want to invest they don't really have a plan and that is not a good idea at becaue i feel like there is more to just buying investing in bitcoin should be more like a long-term investment plan, and that is why you need to have a plan just just to invest, but a long-term investment.

When determining the amount of DCA, you should give more importance to your income, necessary expenses and surplus money on hand. Then, even if there is a major correction in the market, you will not have to face the pressure of selling that Bitcoin to meet your daily needs. As a result, market instability cannot easily ruin the plan. Have a plan so that even if the market is bad, your necessary money, emergency savings and normal DCA do not conflict with each other.

Your income will determine exactly what will come in for the DCA because even if you want to do DCA, you have to do it so that it does not affect you, because that is one of the mistakes that has been made, and the expectation in terms of return is also too high, so we have to accept the fact that we need to be able to understand the responsibility we are bringing upon ourselves before we start to invest in Bitcoin. The idea might sound great, but the responsibility is not an easy one.

[BluebloodCXVI]

It seems to me that the fees for depositing and/or buying bitcoin tend to be less onerous than the fees for withdrawing, which also is part of the justification that guys might allow for the amount of BTC that they accumulated to get up to a certainly large enough size to be able to justify both the withdrawal fees and perhaps also take into consideration future UTXO management to the extent that they might not want to have a bunch of small UTXOs in their private wallets.

You are absolutely correct, withdrawing requires higher fee because bitcoin is traveling to another wallet and of course the miners will be ready to take their own percentage but depositing and buying are more cheaper than withdrawing.

The main culprit for high fees on the way out and low fees on the way in happens to be the exchanges setting those fee policies, since they are happy to receive your deposits of cash, bitcoin and/or shitcoin, yet with higher fees for withdrawal they are both trying to disincentivize you to withdraw from the exchange, but also to make money off of you within the bitcoin (or other funds) withdrawal policies, too.

Yep, the exchanges is more like the middle man here, so people should just chill out on blaming Bitcoin’s network for every high withdrawal fees they see.

And the thing is that even the fee that these exchanges charge isn’t necessarily the same as the actual network fee cos an exchange can charge a fixed withdrawal amount even when the bitcoin network is relatively cheap, this means that the user is effectively paying the exchange’s pricing policy rather than simply paying for the transaction to be processed.

[adultcrypto]

Once you invest in bitcoin without no emergency funds, you are actually gambling with your entire Bitcoin portfolio because in the end when emergency situation comes, you are going to sell your Bitcoin investment even when you don't want to, so if an investor want to invest in Bitcoin from his discretionary income, he have to invest like 50% of his discretionary income, keep like 20% for emergency funds, 20% for reserve funds and the remaining 10% for consumption.
That way his investment will be secured from any emergency that came up in the future.

This is not entirely true because lack of emergency funds does not amount to gambling with the bitcoin portfolio. One can begin his bitcoin investment without setting up emergency funds and that will not be considered gambling. It is even when the investor have accumulated some bitciin that he will need to setup the emergency funds so that he will not be forced to see his investment over things that the emergency funds would have taken care of.

These percentages you allocated depends on a lot of things and may not work for everyone. It is wise fir individuals following this conversation not to copy those numbers but to check their finances to be able to know what percentages that should be allocated to each of the important items so they don't sun into problems.

[Tongley]

Once you invest in bitcoin without no emergency funds, you are actually gambling with your entire Bitcoin portfolio because in the end when emergency situation comes, you are going to sell your Bitcoin investment even when you don't want to, so if an investor want to invest in Bitcoin from his discretionary income, he have to invest like 50% of his discretionary income, keep like 20% for emergency funds, 20% for reserve funds and the remaining 10% for consumption.
That way his investment will be secured from any emergency that came up in the future.

This is not entirely true because lack of emergency funds does not amount to gambling with the bitcoin portfolio. One can begin his bitcoin investment without setting up emergency funds and that will not be considered gambling. It is even when the investor have accumulated some bitciin that he will need to setup the emergency funds so that he will not be forced to see his investment over things that the emergency funds would have taken care of.

These percentages you allocated depends on a lot of things and may not work for everyone. It is wise fir individuals following this conversation not to copy those numbers but to check their finances to be able to know what percentages that should be allocated to each of the important items so they don't sun into problems.

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning, but, it is not mandatory. For example, keeping a part of discretionary income for emergency fund at the beginning of investing.

When a person does not pay attention to creating an emergency fund from the beginning, then he may definitely become inattentive towards creating an emergency fund and he may not take steps to create an emergency fund. Emergency fund is definitely important and a person who does not take steps to create an emergency fund even after starting investing is definitely gambling in the name of investment.

[Silikiem]

Once you invest in bitcoin without no emergency funds, you are actually gambling with your entire Bitcoin portfolio because in the end when emergency situation comes, you are going to sell your Bitcoin investment even when you don't want to, so if an investor want to invest in Bitcoin from his discretionary income, he have to invest like 50% of his discretionary income, keep like 20% for emergency funds, 20% for reserve funds and the remaining 10% for consumption.
That way his investment will be secured from any emergency that came up in the future.

This is not entirely true because lack of emergency funds does not amount to gambling with the bitcoin portfolio. One can begin his bitcoin investment without setting up emergency funds and that will not be considered gambling. It is even when the investor have accumulated some bitciin that he will need to setup the emergency funds so that he will not be forced to see his investment over things that the emergency funds would have taken care of.

These percentages you allocated depends on a lot of things and may not work for everyone. It is wise fir individuals following this conversation not to copy those numbers but to check their finances to be able to know what percentages that should be allocated to each of the important items so they don't sun into problems.

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning, but, it is not mandatory. For example, keeping a part of discretionary income for emergency fund at the beginning of investing.

When a person does not pay attention to creating an emergency fund from the beginning, then he may definitely become inattentive towards creating an emergency fund and he may not take steps to create an emergency fund. Emergency fund is definitely important and a person who does not take steps to create an emergency fund even after starting investing is definitely gambling in the name of investment.

However, it is not an excuse for those who don’t have an emergency funds not to start investing in bitcoin when their discretionary income is ready. The emergency funds is an important part of an investment no doubt, but having a zero emergency funds shouldn’t be a reason to delay getting started from investing in bitcoin, it is not mandatory you must have an emergency funds before starting to invest in bitcoin as investors most especially newbies can get to invest in bitcoins if they have an available discretionary income and along the line they can be building the emergency funds or do it side by side while they’re buying bitcoin by using some part of their discretionary income for accumulating bitcoin and allocating other part to building the emergency funds.

[Obulis]

Newbies who are encouraged or advised to buy the dip whose Bitcoin accumulation starting time is just delayed are even lucky because the encouragement or advice to buy the dip can become a total discouragement. While waiting for these perfect buying time, something can come up that may warrant them using up this funds because Bitcoin investment through waiting for the dip will look not real to them and so discouraging. A newbie doesn't need this encouragement that can turn to discouragement.

How does waiting for the dips serves as an encouragement to new investors.
There isn’t anything like buying at the perfect time and waiting for the dips is just a form of delay and procrastination which that isn’t a good idea. Every time is perfect to buy bitcoin either at lows or highs, so far the aim is on the future and long term growth then we can buy at anytime with DCA but buying the dips doesn’t serves as an encouragement instead it delaying.

You actually got my whole point misinterpreted. There're dip buyers who go on to encourage newbies/others they come in contact with to do like them, that's the encouragement I talked about not that buying the dip or waiting for the dip serves as encouragement. When this idea of buying the dip is welcomed, they don't just buy they wait for the time that seems best for them, that's the perfect time I referred to not that there's any right or perfect time to buy Bitcoin. Bitcoin is readily available and as a DCA investor you have no time to wait as long as it the due date for you to accumulate, you just accumulate irrespective of market price and can also be fully prepared to take advantage of dip.

[Grease5000]

Once you invest in bitcoin without no emergency funds, you are actually gambling with your entire Bitcoin portfolio because in the end when emergency situation comes, you are going to sell your Bitcoin investment even when you don't want to, so if an investor want to invest in Bitcoin from his discretionary income, he have to invest like 50% of his discretionary income, keep like 20% for emergency funds, 20% for reserve funds and the remaining 10% for consumption.
That way his investment will be secured from any emergency that came up in the future.

Having an emergency fund is 100 percent important, but I don't think folks must wait until their emergency fund is fully built before they  start accumulating  bitcoin. Because an emergency fund can be build same time along side while accumulating bitcoin.

For example, if someone has $100 of  discretionary income, they can put some percentage into bitcoin and some toward building their emergency or reserve fund.  The reduces  the risk of being forced to sell bitcoin stash during an emergency situation

The main point for me is that bitcoin should be bought using only discretionary income and not money  needed for immediate expenses. And the exact 50/20/20/10 split also shouldn't be treated as a rule because everyone's income, expenses and financial situation are different.

[Jewan420]

The main point for me is that bitcoin should be bought using only discretionary income and not money  needed for immediate expenses. And the exact 50/20/20/10 split also shouldn't be treated as a rule because everyone's income, expenses and financial situation are different.

There is no fixed split of investment, even from one month to another for the same person. Every individual has a different situation and different financial capacity, so the investment split will be different for each person. Even discretionary funds can change regularly since the monthly expenses are not fixed, so the investment split for each month can also be different.

In terms of investment, we have to take steps considering our situation. If your source of income is unstable, then it is natural that backup funds should be given priority as well as investment, in this case a kind of split will be created. If the source of income is stable and the risk is relatively low, then investment will be more prominent, in this case a different split will be created. Basically, there is no fixed amount of DCA and there is no fixed amount of investment for any person.

[SDS11]

You actually got my whole point misinterpreted. There're dip buyers who go on to encourage newbies/others they come in contact with to do like them, that's the encouragement I talked about not that buying the dip or waiting for the dip serves as encouragement. When this idea of buying the dip is welcomed, they don't just buy they wait for the time that seems best for them, that's the perfect time I referred to not that there's any right or perfect time to buy Bitcoin. Bitcoin is readily available and as a DCA investor you have no time to wait as long as it the due date for you to accumulate, you just accumulate irrespective of market price and can also be fully prepared to take advantage of dip.

This is the more reason someone that is willing to invest in bitcoin should seek for the right knowledge and the method or strategy that will work best and the most commonly used strategy. a wise person that is willing and ready to invest in bitcoin won't just seek information from 3 or 4 persons, he or she have to check as many persons as possible then try to compare and check the mostly used strategy and why, that is what a wise person will do, you can not just listen to one person and conclude everything that will be very wrong because there is going to loophole and lapses.

[Powerjumboo]

Once you invest in bitcoin without no emergency funds, you are actually gambling with your entire Bitcoin portfolio because in the end when emergency situation comes, you are going to sell your Bitcoin investment even when you don't want to, so if an investor want to invest in Bitcoin from his discretionary income, he have to invest like 50% of his discretionary income, keep like 20% for emergency funds, 20% for reserve funds and the remaining 10% for consumption.
That way his investment will be secured from any emergency that came up in the future.

This is not entirely true because lack of emergency funds does not amount to gambling with the bitcoin portfolio. One can begin his bitcoin investment without setting up emergency funds and that will not be considered gambling. It is even when the investor have accumulated some bitciin that he will need to setup the emergency funds so that he will not be forced to see his investment over things that the emergency funds would have taken care of.

These percentages you allocated depends on a lot of things and may not work for everyone. It is wise fir individuals following this conversation not to copy those numbers but to check their finances to be able to know what percentages that should be allocated to each of the important items so they don't sun into problems.

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning, but, it is not mandatory. For example, keeping a part of discretionary income for emergency fund at the beginning of investing.

When a person does not pay attention to creating an emergency fund from the beginning, then he may definitely become inattentive towards creating an emergency fund and he may not take steps to create an emergency fund. Emergency fund is definitely important and a person who does not take steps to create an emergency fund even after starting investing is definitely gambling in the name of investment.

Actually, not everyone has an emergency fund, but you need to create an emergency fund. It is seen that many people keep some part of their income for emergency needs, because some emergency money is definitely needed to move forward in life, such as for medical treatment, housing, education, food, etc. But there are many who use this emergency fund for investment, although I do not know how logical it is to use this emergency fund for investment. However, investments can be made, but even then it is necessary to have some emergency fund, because the need for emergency funds definitely arises in the course of life. However, to create an emergency fund, we must increase our disposable income. If we can increase our disposable income, then we can definitely have an emergency fund for investment.

[Homemade-IQ]

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning,

Having zero balance of your emergency funds before starting up your Bitcoin accumulation is not a bad thing, because I think that it's a normal thing most old and new investors experience at the beginning stages of their investment, but where problem is, is by not starting to build it simultaneously with your Bitcoin investment, because emergency can come at anytime, so it's very good to prepare for it early,  than waiting for emergency to come first before thinking about it. Because it's very easy to fail when you fail to plan properly.

[JayJuanGee]

You are totally wrong and I disagree with you, do you mean that someone should stay back and watch if they have a discrestionary income and no emergency funds yet? That is not correct if that is what you usually do and this information is somehow misleading to newbie because it will make them want to sort out emergency funds before they start investing. Please be inform that you don't need emergency funds before you can start your Bitcoin investment but rather what you need "initially" is your discretionary income.

Yes, to be honest, we should encourage a new investor by letting them know that if they have discretionary income,they can simply go ahead and start investing.  They do not need to worry about an emergency fund right at the outset. For someone completely new to Bitcoin, I would simply advise them to start investing; initially, they do not need to focus on building an emergency fund.

If a person is brand new to bitcoin and they have absolutely no back up funds, they have to save back up funds at the same time that they are buying bitcoin, since none of us should want to accidentally spend beyond our discretionary funds.

Another thing is that they can build their back up funds at the same time as they are building up their bitcoin, and it is not good to completely ignore back up funds or to suggest that back up funds are not important, since anyone buying bitcoin while they are still building up their back up funds is running risks of not having enough back up funds to cover likely shortages of income and/or increases in basic expenses, which would cause them to have to tap into their bitcoin at a time that was not of their choosing which surely would not be a good thing for any serious bitcoin investor.  I personally don't recommend trading or gambling with bitcoin, so back up funds are needed, even for beginners, even though they surely can start from where they are at and also build their back up funds with their bitcoin, so long as they have discretionary funds.

It is perfectly fine if they begin building an emergency fund even six months after they have started investing.

Are you retarded?

You are going to go from zero back up funds to 6 months of back up funds?  Do you even know what you are talking about?

It could take 1-2 years to just build up 3 months of back up funds, and you are proclaiming that a bitcoin investor either does not need them or they could be six months of their income?  You seem to be just making shit up without any connection with real world situations that are likely to exist with regular people.

At the initial stage, the priority is simply to get started.

At least, you got that part correct.  Yes, there is an importance of getting started as soon as a person can assess that they have discretionary funds.

Once an investor enters the world of investing, they will gain a better understanding of the process and eventually begin building an emergency fund. When discussing investment, we should communicate in a way that does not discourage the investor or prompt them to take hasty actions. It is essential to acquire the necessary knowledge and then proceed to invest with genuine interest.

What is the essential knowledge that you are proclaiming that the bitcoin newbie needs?  I thought that we already agreed that they can get started so long as they have discretionary funds, and now you are proclaiming that they need some kind of "necessary knowledge" prior to getting started?  You presume that they don't have knowledge or they cannot figure certain things out on their own? or maybe they can adjust their starting amount based on their own assessment of what knowledge they believe they have or they don't have or what they believe that they need or don't need.  What is wrong with their getting started based on their having discretionary funds and using their own judgement to figure out details that they believe fits their own circumstances?  Or you want to judge what you believe that the beginner bitcoiners need in order to get started?

Once you invest in bitcoin without no emergency funds, you are actually gambling with your entire Bitcoin portfolio because in the end when emergency situation comes, you are going to sell your Bitcoin investment even when you don't want to, so if an investor want to invest in Bitcoin from his discretionary income, he have to invest like 50% of his discretionary income, keep like 20% for emergency funds, 20% for reserve funds and the remaining 10% for consumption.
That way his investment will be secured from any emergency that came up in the future.

This is not entirely true because lack of emergency funds does not amount to gambling with the bitcoin portfolio. One can begin his bitcoin investment without setting up emergency funds and that will not be considered gambling. It is even when the investor have accumulated some bitciin that he will need to setup the emergency funds so that he will not be forced to see his investment over things that the emergency funds would have taken care of.

These percentages you allocated depends on a lot of things and may not work for everyone. It is wise fir individuals following this conversation not to copy those numbers but to check their finances to be able to know what percentages that should be allocated to each of the important items so they don't sun into problems.

If guys are starting out with very little or no back up funds, then they better be building up their back up funds at the same time that they are building up their bitcoin holdings, otherwise they are taking too many risks with their bitcoin holdings, and taking too many risks is a form of gambling, whether you want to agree to that label of their behavior or not.

Of course, in bitcoin investing we emphasize both getting started and also getting started from where you are at, as long as discretionary funds are available... yet it would be nearly completely dumb if a newbie started out buying bitcoin while completely keeping his back up funds at or near zero.

[edited out]

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning, but, it is not mandatory. For example, keeping a part of discretionary income for emergency fund at the beginning of investing.

Of course, nothing is mandatory in bitcoin to the extent that guys can do whatever they like, even dumb shit, like not having sufficient back up funds to assure that they are not going to end up investing into bitcoin beyond their discretionary funds.

It is a bit ridiculous for guys to continue to believe that having little to no back up funds is a meaningful way to get started investing into bitcoin.

When a person does not pay attention to creating an emergency fund from the beginning, then he may definitely become inattentive towards creating an emergency fund and he may not take steps to create an emergency fund. Emergency fund is definitely important and a person who does not take steps to create an emergency fund even after starting investing is definitely gambling in the name of investment.

At least, you understand that not having an emergency fund is gambling, since it is, and I personally don't recommend gambling with bitcoin, even if a person happens to be a beginner to bitcoin.

By the way, it is not necessary to build up any kind of large back up funds prior to starting to invest into bitcoin, yet each person has to use their judgement regarding both their getting started buying bitcoin as soon as possible and also making sure that they are not investing beyond their discretionary funds.

..... the need for emergency funds definitely arises in the course of life. However, to create an emergency fund, we must increase our disposable income. If we can increase our disposable income, then we can definitely have an emergency fund for investment.

Emergency funds can be built from whatever level of discretionary funds that a person has.

Sure, a person can build their emergency (or back up) funds faster and larger if they have more discretionary funds, but it is not necessary to have large discretionary funds in order to be able to build both bitcoin and emergency funds simultaneously.

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning,

Having zero balance of your emergency funds before starting up your Bitcoin accumulation is not a bad thing,

Yes it is a bad thing to have zero emergency funds (Or back up funds) before (or at the time) of starting to buy bitcoin since the only way that a guy would be assured that he has not spent beyond his discretionary funds is to have back up funds.

If a guy is buying bitcoin without any back up funds then he is gambling rather than investing, and I surely don't recommend to gamble with bitcoin.

because I think that it's a normal thing most old and new investors experience at the beginning stages of their investment, but where problem is, is by not starting to build it simultaneously with your Bitcoin investment, because emergency can come at anytime, so it's very good to prepare for it early,  than waiting for emergency to come first before thinking about it. Because it's very easy to fail when you fail to plan properly.

You do seem to recognize the importance of back up funds, so I don't know why you de-emphasized it at the beginning of your response and act as if having back up funds were not important.

[Perfect-World]

This is the more reason someone that is willing to invest in bitcoin should seek for the right knowledge and the method or strategy that will work best and the most commonly used strategy. a wise person that is willing and ready to invest in bitcoin won't just seek information from 3 or 4 persons, he or she have to check as many persons as possible then try to compare and check the mostly used strategy and why, that is what a wise person will do, you can not just listen to one person and conclude everything that will be very wrong because there is going to loophole and lapses.

Emphasis on right knowledge or seeking for too much right knowledge before starting can become a delay from starting. While seeking for knowledge is good, getting a first hand knowledge while already in the market is better and helps the investor understands better. Relying on too many but different ideas from different investors may not be too helpful, and sometimes might become confusing and/or misleading.

If the new investor is interested in Bitcoin investment, and is able to figure out his discretionary income, he could begin his investment while applying a common sense. Of course, as a newbie, he may not understand much, but while in the market, he begins to adjust and make better decisions. The point is starting and getting along with his investment and learning better ways.

You do seem to recognize the importance of back up funds, so I don't know why you de-emphasized it at the beginning of your response and act as if having back up funds were not important.

Anyone who undermines the importance of back up funds in his investment is just fucking around with his investment because they are quite exposed to risk and emergency situations which will definitely force them to sell unplanned. Back funds is a necessity and should be built alongside out investment.

[Alonso_]

It is very risky to have zero emergency fund at the beginning of investing. Therefore, it is better to have an initial level of emergency fund. Many times, it becomes difficult for a new person to manage their financial situation or calculate the source of discretionary income correctly, for such a person, starting investment with zero emergency fund is a very risky decision. Therefore, it is very good to have an initial level of emergency fund at the beginning,

Having zero balance of your emergency funds before starting up your Bitcoin accumulation is not a bad thing, because I think that it's a normal thing most old and new investors experience at the beginning stages of their investment, but where problem is, is by not starting to build it simultaneously with your Bitcoin investment, because emergency can come at anytime, so it's very good to prepare for it early,  than waiting for emergency to come first before thinking about it. Because it's very easy to fail when you fail to plan properly.

Yes, you don’t have to build your emergency funds immediately as soon as you start your bitcoin investment, what you should do is get started with buying and accumulating, however 3 months into your bitcoin investment is good to start having your backup funds, having a discretionary income should be the ultimate priority first of all, and secondly you can start buying immediately as soon as you have a discretionary income, I feel you do this because it makes you feel comfortable starting with your bitcoin investment and no other distractions than just buying and accumulating bitcoin.

[Barikui1]

Yes, you don’t have to build your emergency funds immediately as soon as you start your bitcoin investment, what you should do is get started with buying and accumulating, however 3 months into your bitcoin investment is good to start having your backup funds, having a discretionary income should be the ultimate priority first of all, and

No, that's a wrong approach to your Bitcoin investment because if emergency situation comes up at the beginning stages of your Bitcoin accumulation, and you have no back up funds in place to protect your bitcoin investment, you are likely going to sell it off to sort out the pressing emergencies at hand. So it's wise to build both your backup funds alongside your Bitcoin accumulation, because that's the only way your bitcoin investment is going to be secured, since emergencies don't have a particular date when it may strike.

[samadam007]

Yes, you don’t have to build your emergency funds immediately as soon as you start your bitcoin investment, what you should do is get started with buying and accumulating, however 3 months into your bitcoin investment is good to start having your backup funds, having a discretionary income should be the ultimate priority first of all, and secondly you can start buying immediately as soon as you have a discretionary income, I feel you do this because it makes you feel comfortable starting with your bitcoin investment and no other distractions than just buying and accumulating bitcoin.

The problem with some of you is that you don't connect dot while thinking to see whether what you’re saying actually make sense or not… you just go ahead to type it. The fact that you called building backup funds a “distraction” is what is shocking. So you want to invest in Bitcoin for three months first before considering building backup funds? Make it make sense.

The biggest mistake you can make as an investor is accumulating bitcoin without having any financial cushion on ground to protect the portfolio you trying to build. If any little or real emergency hits you before the 3 months you mentioned and you need money to take care of it. I guarantee you the first place you go is your bitcoin. Imagine selling what you’re trying too build. You’ll be back to square one because of negligence in the first place.

Since you already have your discretionary income figured out, why can't you use part of it to build your backup funds instead of putting everything into Bitcoin? Nobody is saying you must wait until you have huge discretionary income before you can buy Bitcoin. As long as it is reasonable, you can start and do both at the same time.

[Sulegzy39]

The prediction isn't a reason for folks who lack emergency finances not to begin purchasing bitcoin once their free time is available. Emergency funds is a vital aspect of a purchase, no question, but possessing zero essential funds shouldn't be an excuse to put off getting began with buying bitcoins. It isn't essential that you possess emergency resources for beginning investing in bitcoins for consumers.

First and foremost, newcomers can invest in bitcoins only if they have access to disposable income, and they may create funds for emergencies along the way. They can also do it side by side while purchasing bitcoins, using a portion of their disposable income to accumulate bitcoin and distributing the rest to create funds for emergencies.

[Joeboy]

~snip~

Everyone has their own strategy of addressing the market, and just like you said, some people will prefer to buy the dip and all costs to the extent they are keeping cash, and everyone has an investment plan, and it won't be a bad idea if everyone knows what is best for them. And that is why, before you begin to invest, you have to understand what you need to do because most people just want to invest they don't really have a plan and that is not a good idea at becaue i feel like there is more to just buying investing in bitcoin should be more like a long-term investment plan, and that is why you need to have a plan just just to invest, but a long-term investment.

Having your discretionary income is already a go ahead to kickstarting your accumulation journey, so you don't have to overcomplicate the criteria's for starting out...Tbh, Folks don't really need to get everything sorted out prior to starting out their investment journey...Some folks at the start of the investment may be lacking in convictions due to their limited understanding of Bitcoin...If that is they case, it would be very unrealistic to expect that individual to start out with a long term plan since he/she is yet to even fully understand what they are investing in...And so even if one start out without a plan, I strongly believe that as they go, they could very well learn so as to gain understanding and with understanding they could very well begin planning and then correcting whatsoever wrong idea they started out with... Involvement is very important..

[I_Anime]

At least, you got that part correct.  Yes, there is an importance of getting started as soon as a person can assess that they have discretionary funds.

Newbies have to lock in on this , as long you have your discretionary funds you are good to go . Not using money that’s meant for your essential expenses, but your discretionary funds , emphasizing more on Discretionary funds . Many kept trying to complicate things for themselves, when fully known that bitcoin investment is not something that should be complicated to do .

Best thing to do having a discretionary Funds, is to start now and positioned yourself. Being aggressive is not bad at all but overly aggressive is something you should avoid if you are really serious with your investment.