Buy Buy Buy or Sell Sell Sell?

[Sobz]

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.

No doubt having an emergency is a very good idea and for those who can have it alongside as they begin accumulating Bitcoin,  then it is a good start. But there is no where it is written to be mandatory to have emergency to start investing in bitcoin.  The emergency fund can come at anytime,  but even as one is beginning to invest Bitcoin without an emergency fund it is important for one to understand the importance of emergency fund and also having plans of establishing it. It is not every beginner that understands how money is being managed but if one has interest to invest Bitcoin, they can but and with time they will know better.

[POPOLUV]

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.

One thing that interest me about this thread is because every passing pages is full with ways to guide and educate all newbies on how to go through in building up their Bitcoin without going astray at the beginning or as you keep pushing in buying Bitcoin consistently and if a newbie can always read through several discussions that is dropped here by different investors, believe me that any newbies that has the mindset of selling soon due to unforeseen circumstances, he will surely build up his investment in such away to with stand any circumstances that might come anytime.

So it is always the best option to sort out your discretionary income and emergency fund in every income you made, in order to stay stabilize in your investments.

[Merit.s]

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

Building your bitcoin investment up to three months before you start building your emergency funds is gambling, waste of time and resources because if you have hit with real life emergency before then, you will sell your bitcoin investment at loss if the price is below your entry point and as a bitcoin investor, we need to prevent anything that will lead to selling your bitcoin investment when it's not of your will.

You don't need to rush in growing your bitcoin investment in the beginning and neglect the importance of emergency funds because they go hand in hand since, emergency funds is what you will use to take care of any unforseen circumstances that pops up and want to consume your bitcoin investment. It's good to build your emergency funds simultaneously, with your bitcoin investment in the beginning and don't wait till you have accumulated bitcoin for three months first.

You can divide your discretionary income into three parts and use the first to DCA, the second to build your emergency funds and the last part for your discretionary consumption.

It is not every beginner that understands how money is being managed but if one has interest to invest Bitcoin, they can but and with time they will know better.

One thing why I love long term bitcoin accumulation is that it doesn't only teach you how to be disciplined in buying bitcoin but it also reaches you how to manage your cash inflow properly overtime and financial management in order for you to assign the right funds for the right purpose. DCA accumulation method has a lot to teach you if you can only be consistent and persistent overtime with it. I believe everyone have common sense to figure out whether, they have discretionary income or not.

[Cgrexp]

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.

No doubt having an emergency is a very good idea and for those who can have it alongside as they begin accumulating Bitcoin,  then it is a good start. But there is no where it is written to be mandatory to have emergency to start investing in bitcoin.  The emergency fund can come at anytime,  but even as one is beginning to invest Bitcoin without an emergency fund it is important for one to understand the importance of emergency fund and also having plans of establishing it. It is not every beginner that understands how money is being managed but if one has interest to invest Bitcoin, they can but and with time they will know better.

Income,responsibilities and financial situations vary from person to person. When an individual should start investing depends on their overall financial standing. Bitcoin prices can fluctuate significantly in the short term. Rather than strictly insisting that one cannot invest in Bitcoin without an emergency fund it is more rational to view the matter through the lens of risk management. By investing a limited amount of surplus money one can simultaneously build an emergency fund through regular savings. This fosters an investment habit while also creating a financial safety net for unforeseen future events. There is no need to view an emergency fund and Bitcoin investment as mutually exclusive alternatives . one can start investing a small amount within one's means while also building an emergency fund. This allows the investor to focus on both wealth creation and overall financial stability.

[Nasdel4]

If you're doing bitcoin you should always think long term, that's why you shouldn't use money you got from loan or money that was probably planned for a project. I think that bitcoin accumulation should be a gradual process, using money you can afford without looking back or relying on it if you had an emergency. Long term bitcoin accumulation also teaches you patience and discipline which are traits that would help you in most decision making in life generally.

[HajiBagi]

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.

There is nothing wrong with buying the dip, but never encourage a new person to wait for the dip, because you cannot predict bitcoin, he may be waiting for the price to drop and feel disappointed in the end when the price continues to rise, my advice for anyone who wants to invest in bitcoin is to start at any time he is capable and ready to invest, as long as the individual understands bitcoin and can invest and hold for a long time, I will advise him to invest, when the opportunity to buy the dip come, he can buy if he is capable of doing so, my advice to anyone who is ready to invest and has their funds available is to invest at any time.

[Rockson1]

No doubt having an emergency is a very good idea and for those who can have it alongside as they begin accumulating Bitcoin,  then it is a good start. But there is no where it is written to be mandatory to have emergency to start investing in bitcoin.  The emergency fund can come at anytime,  but even as one is beginning to invest Bitcoin without an emergency fund it is important for one to understand the importance of emergency fund and also having plans of establishing it. It is not every beginner that understands how money is being managed but if one has interest to invest Bitcoin, they can but and with time they will know better.

I agree with some certain things you said, but you should have been specific as you said emergency funds can be built at anytime, let's say you are right, I think you would have break it down for newbies to understand, we can build emergency funds before we start Bitcoin investment, but it is not a must and the reason why it is not compulsory is that, potential investors can be discouraged with that idea, so instead of creating emergency funds when you have not invested anything, it will be nice to divide the amount into two, one can go in for your Bitcoin acumulation, and the other for the creation of your emergency fund, with my little knowledge, since the idea of building emergency funds before investing is not really advuceable for the reasons that have been stated so far, building your emergency funds at the same time with your bitcon acumulation, becomes the best and effective option.

[Primark]

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,

Although I understand that your discussion is good in that you want to convey the importance of starting to invest. But how will the investor cope if an unexpected situation arises during these three months?
The important thing in long-term investing is to use money that you will not be forced to sell even if you suddenly need it. A new person can start investing in small amounts and at the same time build his financial security. He should not have to collect a large amount of Bitcoin quickly at the beginning, but rather he should make a plan at the beginning so that he does not have to change his decision even in bad times.

If someone invests with a part of his necessary expenses, market fluctuations are likely to put him under additional stress. Therefore, focusing on building an emergency fund along with investing can strengthen his long-term plan.

[Finebone]

There is nothing wrong with buying the dip, but never encourage a new person to wait for the dip, because you cannot predict bitcoin, he may be waiting for the price to drop and feel disappointed in the end when the price continue to rise

Waiting for the dip is not only a disadvantage to a newbie investors, but also to those veterans investors that are still far from their over accumulation status, because it will slow down their accumulation, since they will now start timing the market, which is not a healthy accumulation practice, but if they are buying regularly through the dca accumulating strategy, they can still buy when the market dip, if they have the reserve funds to carry it out, but if you cannot afford it, their is no problem about that because you can still focus on your dca strategy that gives you the opportunity to buy at every price interval without any problem.

[ruykeri]

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.

There is nothing wrong with buying the dip, but never encourage a new person to wait for the dip, because you cannot predict bitcoin, he may be waiting for the price to drop and feel disappointed in the end when the price continues to rise, my advice for anyone who wants to invest in bitcoin is to start at any time he is capable and ready to invest, as long as the individual understands bitcoin and can invest and hold for a long time, I will advise him to invest, when the opportunity to buy the dip come, he can buy if he is capable of doing so, my advice to anyone who is ready to invest and has their funds available is to invest at any time.

I think it is a big mistake when someone waits for lower price despite having available money. Suppose someone is financially ready to invest today and has some discretionary money available. And if one is thinking of buying in a dip, the mindset of long-term investment may change. Later, the regular buying amount is reduced, because the cash will be saved to buy the dip. This is why I think it is a big problem in long-term investment if an investor makes a regular habit of buying in dip. Since it is not possible to buy in a perfect dip, it would be more reasonable to DCA in Bitcoin regularly without saving any funds. This will reduce mental stress and will also keep the habit of investing in Bitcoin regularly. It also increases the possibility of long term profit.

[Abbatty]

There is nothing wrong with buying the dip, but never encourage a new person to wait for the dip, because you cannot predict bitcoin, he may be waiting for the price to drop and feel disappointed in the end when the price continue to rise

Waiting for the dip is not only a disadvantage to a newbie investors, but also to those veterans investors that are still far from their over accumulation status, because it will slow down their accumulation, since they will now start timing the market, which is not a healthy accumulation practice, but if they are buying regularly through the dca accumulating strategy, they can still buy when the market dip, if they have the reserve funds to carry it out, but if you cannot afford it, their is no problem about that because you can still focus on your dca strategy that gives you the opportunity to buy at every price interval without any problem.

Not just for newbies for also for existing members, never encourage anyone to wait for the Dip to start investing. You don’t even know when the Dip will come, so waiting will only make postponing or delay your investment, and we all know it not good to delay Bitcoin investment so long you have your discretionary income available.

Why would you even encourage anyone to wait for the Dip when you know bitcoin is a volatile asset, why waste time when you have the money you want to invest with available. When it comes to bitcoin, accumulation is what matters and do that with your discretionary income.

[Gragebox]

There is nothing wrong with buying the dip, but never encourage a new person to wait for the dip, because you cannot predict bitcoin, he may be waiting for the price to drop and feel disappointed in the end when the price continue to rise

Waiting for the dip is not only a disadvantage to a newbie investors, but also to those veterans investors that are still far from their over accumulation status, because it will slow down their accumulation, since they will now start timing the market, which is not a healthy accumulation practice, but if they are buying regularly through the dca accumulating strategy, they can still buy when the market dip, if they have the reserve funds to carry it out, but if you cannot afford it, their is no problem about that because you can still focus on your dca strategy that gives you the opportunity to buy at every price interval without any problem.

Not just for newbies for also for existing members, never encourage anyone to wait for the Dip to start investing. You don’t even know when the Dip will come, so waiting will only make postponing or delay your investment, and we all know it not good to delay Bitcoin investment so long you have your discretionary income available.

Why would you even encourage anyone to wait for the Dip when you know bitcoin is a volatile asset, why waste time when you have the money you want to invest with available. When it comes to bitcoin, accumulation is what matters and do that with your discretionary income.

Chasing the ideal dip can very quickly turn into justification to hold off on investing. The fact is, we never know when or how deep the next dip will be. Bitcoin could go down after you buy it, or it could go up as you're sitting around waiting for a lower price.

For those who know Bitcoin already and have some spare funds to invest, a steady accumulation plan can be easier than constantly trying to forecast each move. Discretionary income also allows you to hold on during that rare occasion when you're hit with a short-term loss.

However, investing right now doesn't necessarily imply you're going to be buying Bitcoin all at the same time. You could break up the amount of money you have to invest into smaller chunks, and then make regular purchases. This can help lift the burden of trying to get the exact right moment.

The bottom line is to have a plan and to stick to it with discipline. The market always has a set of reasons not to act, but no one can know in advance when the market will present us with the best set of buying circumstances.

[Umulala-alala]

If you're doing bitcoin you should always think long term, that's why you shouldn't use money you got from loan or money that was probably planned for a project. I think that bitcoin accumulation should be a gradual process, using money you can afford without looking back or relying on it if you had an emergency. Long term bitcoin accumulation also teaches you patience and discipline which are traits that would help you in most decision making in life generally.

Long term is the bitcoin investment we are talking about that's what everyone going into bitcoin investment are supposed to do and not to trade for a short time. Investment in bitcoin should also come from our discretionary income and as one who plan for a long time investment the dca strategy can be use to gradually and consistently be buying bitcoin, as they are buying bitcoin from their discretionary income they should also be saving some for their emergency funds too because investing for a long time without any proper plan for emergency funds can get your asset sold in a short time when there is an emergency case.

[Princess Leah]

If you're doing bitcoin you should always think long term, that's why you shouldn't use money you got from loan or money that was probably planned for a project. I think that bitcoin accumulation should be a gradual process, using money you can afford without looking back or relying on it if you had an emergency. Long term bitcoin accumulation also teaches you patience and discipline which are traits that would help you in most decision making in life generally.

Long term is the bitcoin investment we are talking about that's what everyone going into bitcoin investment are supposed to do and not to trade for a short time. Investment in bitcoin should also come from our discretionary income and as one who plan for a long time investment the dca strategy can be use to gradually and consistently be buying bitcoin, as they are buying bitcoin from their discretionary income they should also be saving some for their emergency funds too because investing for a long time without any proper plan for emergency funds can get your asset sold in a short time when there is an emergency case.

I think he's not too familiar with this thread but with time he'll catch up but i like that he's long term minded and talking about not taking loans or using money meant for important stuffs for investment, and also aware of the discretionary funds which means he understands the right way to invest, to an event.
 
 Consistency is an important aspect of Bitcoin investment that people shouldn't overlook, it ease the pressure to trying to time the market which affect people psychologically and trigger them to panic sell, it's the best way to outsmart volatility cause whether it rise or drop you won't have reasons to panic.

[Perfect-World]

No doubt having an emergency is a very good idea and for those who can have it alongside as they begin accumulating Bitcoin,  then it is a good start. But there is no where it is written to be mandatory to have emergency to start investing in bitcoin.  The emergency fund can come at anytime,  but even as one is beginning to invest Bitcoin without an emergency fund it is important for one to understand the importance of emergency fund and also having plans of establishing it. It is not every beginner that understands how money is being managed but if one has interest to invest Bitcoin, they can but and with time they will know better.

You are giving a wrong impression about the importance of emergency funds, that it may come anytime. This is totally wrong. Emergency funds are as important as your investment too. So, it cannot come anytime, nope. The investor must immediately begin building his emergency funds as soon as he starts his investment. Emergencies might come anytime, so, we must take it seriously, else, out investment might be exposed to risk.

Chasing the ideal dip can very quickly turn into justification to hold off on investing. The fact is, we never know when or how deep the next dip will be. Bitcoin could go down after you buy it, or it could go up as you're sitting around waiting for a lower price.

Am not comfortable with your use of words in trying to describe the Dip. What's Ideal Dip? Anything like that? Is the dip ideal for investors? I don't think so. Yes, investors can buy from the Dip, but not to make it there major strategy, especially for an investor who is still in his accumulation stage.

Your points are clear about the Dip, my only concern is using Ideal to describe it which may be misleading for some newbies which might misunderstand you and think that dip are some sort of superior strategy.

[ejikeme24]

No doubt having an emergency is a very good idea and for those who can have it alongside as they begin accumulating Bitcoin,  then it is a good start. But there is no where it is written to be mandatory to have emergency to start investing in bitcoin.  The emergency fund can come at anytime,  but even as one is beginning to invest Bitcoin without an emergency fund it is important for one to understand the importance of emergency fund and also having plans of establishing it. It is not every beginner that understands how money is being managed but if one has interest to invest Bitcoin, they can but and with time they will know better.

It's true that there's no where it is written that having emergency funds is mandatory for a beginner. but you as a human being there are some certain things you don't need someone to tell you but you have to use common sense to find those things. That is why I'm always proud of JJG because he literally know the things an investor will be needing to ensure that their investment journey will go smoothly without any challenges. there are folks who are having a hard time in holding their bitcoin for Long, even when they tried to figure out what could possibly be the reason behind that but they end up finding nothing sometimes even putting the blame to something that does not have anything to do with their bitcoin investment.  not that they panic during the dip infact they don't have any business with how the market is going all they are concern about is on how they can reach their investment target but they just see themselves selling their holdings when it is not Their will. And that is because they forget that they are supposed to create emergency funds or backup funds for their bitcoin investment, whether you believe it or not if you don't create backup funds for your Bitcoin investment you will find it very difficult to reach your investment target.

[Nwaswago]

If you're doing bitcoin you should always think long term, that's why you shouldn't use money you got from loan or money that was probably planned for a project. I think that bitcoin accumulation should be a gradual process, using money you can afford without looking back or relying on it if you had an emergency. Long term bitcoin accumulation also teaches you patience and discipline which are traits that would help you in most decision making in life generally.

Long term is the bitcoin investment we are talking about that's what everyone going into bitcoin investment are supposed to do and not to trade for a short time. Investment in bitcoin should also come from our discretionary income and as one who plan for a long time investment the dca strategy can be use to gradually and consistently be buying bitcoin, as they are buying bitcoin from their discretionary income they should also be saving some for their emergency funds too because investing for a long time without any proper plan for emergency funds can get your asset sold in a short time when there is an emergency case.

Long-term Bitcoin accumulation should begin with financial stability, not financial pressure. Using borrowed money or funds meant for essential expenses can turn a long-term investment into a forced short-term sale when an emergency comes up. I also like the point about DCA because it connects investment with discipline. You can consistently allocate a reasonable portion of your discretionary income while still building your emergency reserve. That way, a market downturn doesn't automatically become a financial crisis.
The real goal isn't simply to accumulate more Bitcoin, it's to accumulate it without putting yourself in a position where you have to sell it at the wrong time. A sustainable plan should protect both the investment and the investor.

[Popkon6]

If you're doing bitcoin you should always think long term, that's why you shouldn't use money you got from loan or money that was probably planned for a project. I think that bitcoin accumulation should be a gradual process, using money you can afford without looking back or relying on it if you had an emergency. Long term bitcoin accumulation also teaches you patience and discipline which are traits that would help you in most decision making in life generally.

Not only that, if you invest in Bitcoin, then of course you will be able to take any kind of benefit later, you are using your money properly only by investing in Bitcoin. Because if you invest in Bitcoin, your money is more likely to be profitable two to three times, so if you hold it for a long time and maintain the continuity of purchase, then you can create a large portfolio in this long period of time even using a small amount of money.
Because you see that Bitcoin has been increasing in price according to the cycle since the past, so in this situation the price of Bitcoin will improve even more. So if you hold it only in the long term through Bitcoin investment, you will get the most success and the financial shortage will be eliminated in the future.

[Bigjoe33]

Long-term Bitcoin accumulation should begin with financial stability, not financial pressure. Using borrowed money or funds meant for essential expenses can turn a long-term investment into a forced short-term sale when an emergency comes up. I also like the point about DCA because it connects investment with discipline. You can consistently allocate a reasonable portion of your discretionary income while still building your emergency reserve.

Financial stability shouldn't be a measure or a compulsory starting point. Therefore, you dont actually need to be financially stable before you think of starting your investment. If you can figure out your discretionary income, you can start your investment and gradually build and grow along as time goes one.

Also note that financial stability can differ for different individuals because they don't earn the same amount. So while I am saying I am financially stable, the wealth man may say he has nothing much and vise versa. So pegging out starting point into our investment to financial stability maybe be a wrong way to go about it, because you could actually start with the little discretionary using the DCA.

[cyberninja2]

...

Financial stability shouldn't be a measure or a compulsory starting point. Therefore, you dont actually need to be financially stable before you think of starting your investment. If you can figure out your discretionary income, you can start your investment and gradually build and grow along as time goes one.

This is especially true for investing, especially for those with unstable incomes, where it can be done gradually. This means you won't be able to invest fully this month, but you can invest next month, especially if your income sometimes exceeds the previous month. This is an advantage of investing in Bitcoin, as it doesn't require precision; however, when income exceeds your needs, consistency is essential.

Furthermore, investing in Bitcoin is very easy using the DCA strategy. This system doesn't require large sums to accumulate, and this benefits all parties. As discussed above, financial stability isn't the primary criterion. However, when our income exceeds our needs, consistency is crucial when starting an investment, whether large or small.