Buy Buy Buy or Sell Sell Sell?

[Sulegzy39]

We will not be able to have discretionary funds unless we have consistent sources of income. Even if we don't have consistent sources of income, we can still manage our discretionary funds because some people, such as contractors, don't always have contracts. However, once they have a single contract, it is possible that it will cover some employees' salaries for up to ten years. So, without stable sources of income, someone can still manage their discretionary funds.

A person can begin investing in Bitcoin as long as they are able to manage their discretionary funds. Knowing that Bitcoin is volatile, knowing how to purchase it from an exchange, and comprehending the concept of investing in Bitcoin constitute the fundamental knowledge of the cryptocurrency. While setting aside money for emergencies in case of future emergencies, people should invest from their discretionary funds. In actuality, in order to gain a deeper understanding of Bitcoin, one must begin investing.

[Cyber_warrior]

We will not be able to have discretionary funds unless we have consistent sources of income. Even if we don't have consistent sources of income, we can still manage our discretionary funds because some people, such as contractors, don't always have contracts. However, once they have a single contract, it is possible that it will cover some employees' salaries for up to ten years. So, without stable sources of income, someone can still manage their discretionary funds.

A person can begin investing in Bitcoin as long as they are able to manage their discretionary funds. Knowing that Bitcoin is volatile, knowing how to purchase it from an exchange, and comprehending the concept of investing in Bitcoin constitute the fundamental knowledge of the cryptocurrency. While setting aside money for emergencies in case of future emergencies, people should invest from their discretionary funds. In actuality, in order to gain a deeper understanding of Bitcoin, one must begin investing.

Well we don’t need consistent source of income to get our discretionary income, consistent income only makes our accumulation more steady and consistent. There are people who get there discretionary income through gifts, present, gambling and so many other ways. So when it comes to investing in bitcoin, every individual have several means of generating their discretionary income.

It best to invest with consistent discretionary income, but if you don’t have consistent discretionary income don’t let it stop you from investing in Bitcoin. As soon as you have any money and you can pull out discretionary income from it, you can begin your investment. At the end bitcoin investment is not meant to be delayed, start as soon as you can.

[Homemade-IQ]

We will not be able to have discretionary funds unless we have consistent sources of income.

This is wrong and I refuses to accept your idea here. You income must not be stable or consistent income before you can have a discretionary income left to invest with. So if that is what you are thinking, then I think that you have been misled before those that their jobs are like a contract, they don't earn on a steady basis, but they can still invest if they can figure out their discretionary income.

The only way a bitcoin investor is not adviced to invest in bitcoin is when he cannot figure out his discretionary income, but the moment he can figure that out, he can start right away without wasting time.

[Obulis]

I think that if guys are trying to be serious about accumulating bitcoin, then it is likely a good thing to try to figure out ways to buy bitcoin every week, even if their pay might be irregular and/or their expenses might be irregular.   Sure, in the beginning they have to build up systems, including both building up their bitcoin stash and their back up funds, yet at the same time, it seems that the longer that they are building up their bitcoin and back up funds, then they should build cushions in their funds so that they are able to buy bitcoin every week.

Bitcoin accumulation is all about how well you can manage the available funds you have, is not often about how much person earns, if we are to look someone earning before start accumulating bitcoin, some people will never start because they may think they don’t have enough funds to start. But there are many ways to start your bitcoin journey, even if you finance positions is small,  I believe it very difficult for some people right from beginning, to even maintain weekly buying they find it hard, but gradually as investment grows, things will definitely change to better. For me, the achievement is not necessarily mean you must start with huge amounts, or making every week  buying mandatory, you can buy when your financial situation allows and also build your backup funds alongside. what matters is consistency to the level that your bitcoin accumulation will be part of your routine than something you will fine difficult to maintain.

It is not mandatory to have a large income to start accumulating Bitcoin. Even if one's income is low, if some money is left over after meeting the necessary expenses, that is his real investable or discretionary income. If there is nothing left over after meeting the necessary expenses, then buying Bitcoin just to create a habit of consistency can create financial pressure for him. If someone has little money left over in a month, he can start with a small amount. Again, if he cannot afford it in a week, there is no need to force himself to buy just to maintain the rule. The purpose of DCA is not to meet the rule beyond his financial capacity, but to create a long-term habit within his capacity.

Waiting for a large discretionary funds before starting Bitcoin investment is for sure unnecessary waiting that results in missed opportunities. Little discretionary funds is just enough to kick started and force buying of Bitcoin to keep up with consistency when daily or necessary expenses has taken up your funds is not a good idea because of the probable financial pressure that can even lead to forced selling of your Bitcoin holding.
Even when an investor isn't buying Bitcoin consistently, the DCA there is that they buy at whatever price anytime there's discretionary funds available, consistency in buying Bitcoin is not mandatory.

[Crytohillss]

We will not be able to have discretionary funds unless we have consistent sources of income.

This is wrong and I refuses to accept your idea here. You income must not be stable or consistent income before you can have a discretionary income left to invest with. So if that is what you are thinking, then I think that you have been misled before those that their jobs are like a contract, they don't earn on a steady basis, but they can still invest if they can figure out their discretionary income.

The only way a bitcoin investor is not adviced to invest in bitcoin is when he cannot figure out his discretionary income, but the moment he can figure that out, he can start right away without wasting time.

Sure, having an irregular income doesn't automatically mean that know body has no money available for investment the fact is understanding what portion of what one earn can actually be left untouched after one's necessary expenses. people who works on contract May received a huge payment one month and nothing the next month, that folks can still invest but their method may need to be different from anyone collecting a fixed salary every month he might decide on an amount from each completed by contract rather than forcing themselves to invest the Same amount every  month.

People sometimes confused consistency with a fixed amount yes being consistent with Bitcoin accumulation does not necessarily mean investing the figure every day what matters is knowing your own cash flow and commiting what one can truly afford to leave invested.

[Loyang]

We will not be able to have discretionary funds unless we have consistent sources of income.

This is wrong and I refuses to accept your idea here. You income must not be stable or consistent income before you can have a discretionary income left to invest with. So if that is what you are thinking, then I think that you have been misled before those that their jobs are like a contract, they don't earn on a steady basis, but they can still invest if they can figure out their discretionary income.

The only way a bitcoin investor is not adviced to invest in bitcoin is when he cannot figure out his discretionary income, but the moment he can figure that out, he can start right away without wasting time.

You seem to be contradicting your comment. Although you later deny it completely, but your comment is a bit confusing and I understood what you meant after reading your comment 3 times. If you say it directly then it is beneficial for everyone especially for a new person.

A person needs discretionary income to invest, if a person can calculate the discretionary income correctly then he can start investing. To start investing, the source of income is not stable or unstable, it is important, but the source of discretionary income is important. If a person is able to find a source of discretionary income of $ 10, then he can also start investing

[Creeper0]

Sure, having an irregular income doesn't automatically mean that know body has no money available for investment the fact is understanding what portion of what one earn can actually be left untouched after one's necessary expenses. people who works on contract May received a huge payment one month and nothing the next month, that folks can still invest but their method may need to be different from anyone collecting a fixed salary every month he might decide on an amount from each completed by contract rather than forcing themselves to invest the Same amount every  month.

People sometimes confused consistency with a fixed amount yes being consistent with Bitcoin accumulation does not necessarily mean investing the figure every day what matters is knowing your own cash flow and commiting what one can truly afford to leave invested.

You may be talking about unstable income, where it is difficult to estimate the amount of income or how long it will take for you to earn again. Yes, even if the income source of such people is unstable, the amount of income can be large and discretionary money can be created, which is the main element for investment.

DCA can also be done with unstable income sources and it can be weekly DCA or monthly DCA, you just have to have a good plan. And we all know that the amount of DCA can increase or decrease depending on the situation, it is better to have a favorable environment for yourself.

The difference in planning between investors with stable income sources and investors with unstable income sources can arise in the case of backup funds, especially in the case of emergency funds. In the case of unstable income sources, I think it is better to keep the amount of emergency fund relatively high, because your income can stop at any time.

[Different patterns]

—ideally one equivalent to six months of their monthly salary.

Another totally bullshit point.

You really think that back up funds need to be 6 months of a guy's salary.  You must be retarded.  How long do you think that it would take to build up such levels of back up funds, and even if a guy were to be able to build up his back up funds to that kind of a level, it would be a full time job in itself to be ongoingly putting money into the back up funds to keep it at 6 months of income.

It sounds totally stupid to be wanting to have so much back up funds, and it will likely be difficult enough for guys to get their back up funds up to 3 months of their expenses.

Let me say that if a guy has 1 year, 2 year or more of his income invested into bitcoin, then surely it could be possible in those kinds of situations, that a guy might be able to keep 6 months of income in back up funds, but it even still sounds a bit unrealistic unless the guy already has a lot of money already invested. .such as a couple years or more of his income in bitcoin and/or other volatile and/or working assets.

From my own perspective, the problem here is backup funds, I don’t think that should be an issue that delays investors from buying bitcoin, backup funds should be build based on investor actual financial situation, backup funds shouldn’t treated as main target of investors to start accumulating bitcoin, I also believe that six months salary really sound very okay, but for person that starts building wealth new, it will really take a lot of time to reach that level, especially when there’s necessarily things to clear up, things like rent and others responsibilities to take care. My opinion here is that, what I think will it more easier is to build backup alongside with investment, keeping a new investor to accumulate his six months salary before begin, is total waste of time and opportunities, starting gradually is the best otherwise they may spend a year without even make a step.

[Odusko]

Waiting for large discretionary funds before starting Bitcoin investment is for sure unnecessary waiting that results in missed opportunities. Little discretionary funds is just enough to kick started and force buying of Bitcoin to keep up with consistency when daily or necessary expenses has taken up your funds is not a good idea because of the probable financial pressure that can even lead to forced selling of your Bitcoin holding.
Even when an investor isn't buying Bitcoin consistently, the DCA there is that they buy at whatever price anytime there's discretionary funds available; consistency in buying Bitcoin is not mandatory.

Just as I have always said, Bitcoin investment has to be done with the right mindset and understanding of the market and your cash inflow; this proceeds from the point that you have chosen to apply the DCA approach in the most practical level, bitcoin accumulation is a journey that is exposed to alot of factors that could affect your total DCA flows, majority of time when I buy lumb sum of bitcoin it always happens within the range of my discretionary income and cash flow u use that metres to guide myself since I don't have stable discretionary cash flow to buy a set percentage of Bitcoin repeatedly.

[Cyber_warrior]

Sure, having an irregular income doesn't automatically mean that know body has no money available for investment the fact is understanding what portion of what one earn can actually be left untouched after one's necessary expenses. people who works on contract May received a huge payment one month and nothing the next month, that folks can still invest but their method may need to be different from anyone collecting a fixed salary every month he might decide on an amount from each completed by contract rather than forcing themselves to invest the Same amount every  month.

People sometimes confused consistency with a fixed amount yes being consistent with Bitcoin accumulation does not necessarily mean investing the figure every day what matters is knowing your own cash flow and commiting what one can truly afford to leave invested.

You may be talking about unstable income, where it is difficult to estimate the amount of income or how long it will take for you to earn again. Yes, even if the income source of such people is unstable, the amount of income can be large and discretionary money can be created, which is the main element for investment.

DCA can also be done with unstable income sources and it can be weekly DCA or monthly DCA, you just have to have a good plan. And we all know that the amount of DCA can increase or decrease depending on the situation, it is better to have a favorable environment for yourself.

The difference in planning between investors with stable income sources and investors with unstable income sources can arise in the case of backup funds, especially in the case of emergency funds. In the case of unstable income sources, I think it is better to keep the amount of emergency fund relatively high, because your income can stop at any time.

Unstable income or not, I still don’t think it should be a barrier in not investing in bitcoin. It simple And plain. If you are a person with stable income, then you can use DCA, accumulate with your discretionary income and bet consistent about it. Then if you don’t have a stable income, buy as soon as you have discretionary income, it can come in so many other ways, like gifts, gamble etc.

Then In the case of emergency funds, if you have a steady income, you can begin to save for your emergency funds as you are accumulating.

If you don’t have a stable income, you don’t necessarily need to have an emergency funds before you start. Just buy bitcoin when you have funds on you.

[Soldroplet]

We will not be able to have discretionary funds unless we have consistent sources of income. Even if we don't have consistent sources of income, we can still manage our discretionary funds because some people, such as contractors, don't always have contracts. However, once they have a single contract, it is possible that it will cover some employees' salaries for up to ten years. So, without stable sources of income, someone can still manage their discretionary funds.

A person can begin investing in Bitcoin as long as they are able to manage their discretionary funds. Knowing that Bitcoin is volatile, knowing how to purchase it from an exchange, and comprehending the concept of investing in Bitcoin constitute the fundamental knowledge of the cryptocurrency. While setting aside money for emergencies in case of future emergencies, people should invest from their discretionary funds. In actuality, in order to gain a deeper understanding of Bitcoin, one must begin investing.

It is not true that anyone can't have a discretionary fund if they have regular income. A freelancer or contractor's income may be irregular, but if there is some money left after setting aside some money for necessary expenses, future liabilities, and emergencies, that can be his discretionary fund. However, it would not be right to consider all that money as excess money just because he gets a big contact, because there may be many future expenses associated with that money.

And before starting Bitcoin, you have to know everything in detail about volatility, DCA, or Bitcoin and then invest, I don't see it that way. You can start with a very small amount, knowing your financial situation, and then learning everything over time. It is not that you have to stop saving Bitcoin just because your income is uncertain; rather, you should reduce or increase the amount you buy based on your cash flow and backup fund. This allows you to gradually increase your Bitcoin savings according to your ability, rather than guessing whether the market will go up or down, and there is less pressure to sell Bitcoin if you suddenly need money.

[Bluedrem]

It is not true that anyone can't have a discretionary fund if they have regular income. A freelancer or contractor's income may be irregular, but if there is some money left after setting aside some money for necessary expenses, future liabilities, and emergencies, that can be his discretionary fund. However, it would not be right to consider all that money as excess money just because he gets a big contact, because there may be many future expenses associated with that money.

And before starting Bitcoin, you have to know everything in detail about volatility, DCA, or Bitcoin and then invest, I don't see it that way. You can start with a very small amount, knowing your financial situation, and then learning everything over time. It is not that you have to stop saving Bitcoin just because your income is uncertain; rather, you should reduce or increase the amount you buy based on your cash flow and backup fund. This allows you to gradually increase your Bitcoin savings according to your ability, rather than guessing whether the market will go up or down, and there is less pressure to sell Bitcoin if you suddenly need money.

What do we mean by discretionary income?
After setting aside the money that people earn to meet their basic needs, if there is any money left that people can use freely, it is called discretionary income.
And people can use this discretionary in any way, that is, if they did not have this money, they could still live, so there are some risky (high probability of losing money) things where people can use this money. Especially for investment.
There are many people who like to invest in Bitcoin and since Bitcoin investment has to be done with a long-term plan, here you have to use money that you do not need right now, that is, discretionary income. If people use their discretionary income and invest in the DCA method, they can gradually build a great portfolio. And the investment made from discretionary income can one day be the path to financial salvation for that person.

[JayJuanGee]

[edited out]

Well we don’t need consistent source of income to get our discretionary income, consistent income only makes our accumulation more steady and consistent. There are people who get there discretionary income through gifts, present, gambling and so many other ways. So when it comes to investing in bitcoin, every individual have several means of generating their discretionary income.

It best to invest with consistent discretionary income, but if you don’t have consistent discretionary income don’t let it stop you from investing in Bitcoin. As soon as you have any money and you can pull out discretionary income from it, you can begin your investment. At the end bitcoin investment is not meant to be delayed, start as soon as you can.

Yep.  It tends to take years and years and years for normal people to build up their wealth and/or their bitcoin holdings - especially if they are ONLY working from their income (discretionary funds) as it comes in, and surely it will tend to take even longer if they are working from discretionary funds that are inconsistently available.

At the same time, it is important to get started early whether we are young, middle age, or older, and surely the older that we are, then we have less advantage of having time to work in our favor, yet we still have to work within our means, and even older people may sometimes end up messing up because they try to speed up their wealth building and/or to make up for some of the lack of progress that they had made in their earlier years.

So ultimately there should be realizations that wealth building takes time, and there may be ways that we can try to be more aggressive in our building or wealth and our investing into bitcoin, yet there are also limits in terms of how fast that we can go, including that we might suffer more in trying to build wealth if we cannot figure out ways to improve our cashflow and/or to find some ways to consistently have money coming in that both covers our expenses and hopefully provides us with income that goes beyond the covering of our basic expenses, so that we can plan ahead to buy bitcoin consistently, persistently, ongoingly, regularly and perhaps even aggressively.

[edited out]

Waiting for a large discretionary funds before starting Bitcoin investment is for sure unnecessary waiting that results in missed opportunities. Little discretionary funds is just enough to kick started and force buying of Bitcoin to keep up with consistency when daily or necessary expenses has taken up your funds is not a good idea because of the probable financial pressure that can even lead to forced selling of your Bitcoin holding.
Even when an investor isn't buying Bitcoin consistently, the DCA there is that they buy at whatever price anytime there's discretionary funds available, consistency in buying Bitcoin is not mandatory.

I think that I can see what you are saying @Obulis, in terms of DCA not having to be rigid, yet at the same time, if a bitcoin accumulating person is serious about accumulating bitcoin, he would likely prioritize accumulating bitcoin whenever he had enough income available to be able to buy bitcoin, yet if he has difficulties with his cashflows in terms of either his income or his expenses, then there might also be periods of time that he is not really able to accumulate bitcoin, even if he wants to accumulate bitcoin.

—ideally one equivalent to six months of their monthly salary.

Another totally bullshit point.
You really think that back up funds need to be 6 months of a guy's salary.  You must be retarded.  How long do you think that it would take to build up such levels of back up funds, and even if a guy were to be able to build up his back up funds to that kind of a level, it would be a full time job in itself to be ongoingly putting money into the back up funds to keep it at 6 months of income.

It sounds totally stupid to be wanting to have so much back up funds, and it will likely be difficult enough for guys to get their back up funds up to 3 months of their expenses.

Let me say that if a guy has 1 year, 2 year or more of his income invested into bitcoin, then surely it could be possible in those kinds of situations, that a guy might be able to keep 6 months of income in back up funds, but it even still sounds a bit unrealistic unless the guy already has a lot of money already invested. .such as a couple years or more of his income in bitcoin and/or other volatile and/or working assets.

From my own perspective, the problem here is backup funds, I don’t think that should be an issue that delays investors from buying bitcoin, backup funds should be build based on investor actual financial situation, backup funds shouldn’t treated as main target of investors to start accumulating bitcoin, I also believe that six months salary really sound very okay, but for person that starts building wealth new, it will really take a lot of time to reach that level, especially when there’s necessarily things to clear up, things like rent and others responsibilities to take care.

You are also full of shit if you believe that normal people should be shooting to have 6 months of their income tied up in cash.

For an overwhelming majority of situations (especially for normal people or for poor people), it is retarded to keep that much money tied up in cash, and frequently the main ways to justify keeping something like 6 months of income in cash would be in situations in which a lot of volatile assets are already owned, whether bitcoin and/or other assets.  Otherwise having a goal to keep 6 months of income in cash is close to completely retarded and focuses on the dumb propaganda in terms of thinking that their is some value in holding cash and/or presuming that the cash is not being ongoingly debased, and surely in recent times, the debasement of the dollar and other fiat is way worse than it had been in earlier times, especially prior to 2020.

By the way, even for a normal or poor person to build up to having something like 3 months of their expenses in cash is quite a great accomplishment, if they are able to keep that kind of a cash cushion, they are likely going to be greatly empowered by having that much cash (perhaps in various locations and/or various forms).  

Just because 3-4 months of expenses in cash is a good thing, that surely does not mean that 6 months is even better, and that is a bit of retarded thinking.

Also, a person who is brand new to bitcoin, if they happen to have 3-4 months of their expenses in cash, and they have absolutely no bitcoin and absolutely no other investments, they might well be best served by taking half of the amount that they have in cash and figuring out a way to relatively expeditiously put that amount (half of their cash) into bitcoin - perhaps over 3-6 months or some other reasonable and expeditiously approach to the matter.. and then once they have half of their cash in bitcoin and half of their cash in cash, then perhaps at that point they can build them up at a similar rate, and maybe even to be o.k. towards giving greater emphasis to their bitcoin rather than to their cash, since if they have 1.5 to 2 months of their expenses in cash, they already have a decently good size back up fund, and they likely can tailor how much emphasis that they give to building up the cash back ups based on how confident they are in regards to the dependability of their cashflows such as their income keeping on coming in and/or their expenses staying manageable.

My opinion here is that, what I think will it more easier is to build backup alongside with investment, keeping a new investor to accumulate his six months salary before begin, is total waste of time and opportunities, starting gradually is the best otherwise they may spend a year without even make a step.

You seem to have quite a few of the right ideas, yet your ongoing presumption that having a goal to build up 6 months of your income, comes off as quite a wrong focus that would keep a lot of poor or normal people poor since they would be engaging in overkill to be thinking that they are helping themselves by keeping so much cash, since there are not very many situations in which it would be justifiable to either build up or keep that much cash unless the person already had a lot of money invested in various assets, whether bitcoin or some other asset(s), and surely once we presume a person to have a lot of assets (or bitcoin) to justify the keeping of so much cash (back up funds), then once such a person has so many assets, he is no longer a normal and/or poor person.. .and surely he would be an atypical person.. rather than someone that normal and/or poor people should be modeling.

[edited out]

Unstable income or not, I still don’t think it should be a barrier in not investing in bitcoin. It simple And plain. If you are a person with stable income, then you can use DCA, accumulate with your discretionary income and bet consistent about it. Then if you don’t have a stable income, buy as soon as you have discretionary income, it can come in so many other ways, like gifts, gamble etc.

Then In the case of emergency funds, if you have a steady income, you can begin to save for your emergency funds as you are accumulating.
If you don’t have a stable income, you don’t necessarily need to have an emergency funds before you start. Just buy bitcoin when you have funds on you.

I am not sure if you got this right, exactly, @Cyber_warrior.  

You are correct that both stable and unstable incomes can buy bitcoin, yet it is quite likely that guys who know that they have unstable incomes, they purposefully have to keep more money in their back up funds, and they have to be more careful about how much money that they are putting into bitcoin, since once they put the money in bitcoin, then that money gets tied up for 4-10 years or longer, so the guys with unstable income have to make sure that they have a larger cash cushion before they would reasonably feel comfortable to put the money into bitcoin.

None of us can really determine what another guy can do, unless we know his income expectations and/or his expenses expectations, and so each of us has to make determinations in regards to our determinations about how much it is reasonable to buy bitcoin as compared with keeping the extra cash for possible basic expenses that may or may not end up happening and requiring the money that we had been thinking about putting into bitcoin.  If we end up overdoing our bitcoin investment, then we may well end up putting ourself into a worse position in our having had bought bitcoin as compared with if we had kept the money in cash, since we really had not been in a position to conclude that we had enough discretionary funds in order to comfortably put the money into bitcoin rather than keeping the money in cash.

edited out]

.....And the investment made from discretionary income can one day be the path to financial salvation for that person.

It is quite likely that building up a bitcoin stash and ongoingly strengthening cashflows and back up funds, these will likely lead to an ongoing building of networth and the providing of more and more options, including having money to spend on things that might have had otherwise been unaffordable.. and even having money to optionally bail yourself out of bad situations and having the options to potentially bail out friends and/or relatives (not that you would necessarily want to use your money to bail out other people), and so ongoing bitcoin buying and ongoing strengthening of back up funds will tend to lead to both financial and psychological salvation and to put people into stronger and stronger positions both financially and psychologically.. and if a guy's finances are in a good place, then it is quite likely that improvements in psychology will follow.

[Abbatty]

It is not true that anyone can't have a discretionary fund if they have regular income. A freelancer or contractor's income may be irregular, but if there is some money left after setting aside some money for necessary expenses, future liabilities, and emergencies, that can be his discretionary fund. However, it would not be right to consider all that money as excess money just because he gets a big contact, because there may be many future expenses associated with that money.

And before starting Bitcoin, you have to know everything in detail about volatility, DCA, or Bitcoin and then invest, I don't see it that way. You can start with a very small amount, knowing your financial situation, and then learning everything over time. It is not that you have to stop saving Bitcoin just because your income is uncertain; rather, you should reduce or increase the amount you buy based on your cash flow and backup fund. This allows you to gradually increase your Bitcoin savings according to your ability, rather than guessing whether the market will go up or down, and there is less pressure to sell Bitcoin if you suddenly need money.

What do we mean by discretionary income?
After setting aside the money that people earn to meet their basic needs, if there is any money left that people can use freely, it is called discretionary income.
And people can use this discretionary in any way, that is, if they did not have this money, they could still live, so there are some risky (high probability of losing money) things where people can use this money. Especially for investment.
There are many people who like to invest in Bitcoin and since Bitcoin investment has to be done with a long-term plan, here you have to use money that you do not need right now, that is, discretionary income. If people use their discretionary income and invest in the DCA method, they can gradually build a great portfolio. And the investment made from discretionary income can one day be the path to financial salvation for that person.

Well explained. Discretionary income is the money we have left after we have spend on our basic needs. We can actually choose to do what so ever we have with our discretionary income, but since we are talking about bitcoin in this forum/thread then we prioritize using our discretionary income in investing in Bitcoin. So even when you are investing it should be With your discretionary income.

Also, as you are getting your discretionary income, you can decide to divide it in 2 or 3 bodies. One can be used for your investment, the second can be used for your emergency funds and the last can be for your reserve funds, so long you are holding for a long period of time.

[Joeboy]

~snip~

You seem to be contradicting your comment. Although you later deny it completely, but your comment is a bit confusing and I understood what you meant after reading your comment 3 times. If you say it directly then it is beneficial for everyone especially for a new person.

A person needs discretionary income to invest, if a person can calculate the discretionary income correctly then he can start investing. To start investing, the source of income is not stable or unstable, it is important, but the source of discretionary income is important. If a person is able to find a source of discretionary income of $ 10, then he can also start investing

I find nothing contradictory about his comment, perhaps you failed to properly understand what he was saying...The bone of contention of @Homemade-IQ comment which you failed to properly grasp is that-- Stable income isn't a requirement for Investing, discretionary income is. Investing in Bitcoin majorly requires the presence of your discretionary income, and so if folks can be able to figure that out then they could go ahead to invest with it regardless of how little the amount is..But then again, having a stable income isnt still useless, infact it is very good since it very well facilitate the continuous availability of one's discretionary income, so as to maintain their investment...But if an investor hasn't yet achieved a stable income, that shouldn't necessarily stop him from investing if course he has accounted for his expenses and then has available his discretionary income...And while investing the investor can figure out way to stabilize that their income while they go...

[Homemade-IQ]

Also, as you are getting your discretionary income, you can decide to divide it in 2 or 3 bodies. One can be used for your investment, the second can be used for your emergency funds and the last can be for your reserve funds,

You are getting it all wrong with this your analogy here because I believe that it is not the best way to divide your discretionary income to invest with. Dividing your discretionary income into two part is not the right idea, but rather I think that three equal part will be much ok, one part for investment, one for your backup funds and the last part for your discretionary consumption, with that you can invest more comfortable and consistently without much trouble.

Why some investors have problems with their investments is because they don't even know that they must make provisions for discretionary consumption from their discretionary income, they just focus only on investment and back up funds which is not right.

[Abbatty]

Also, as you are getting your discretionary income, you can decide to divide it in 2 or 3 bodies. One can be used for your investment, the second can be used for your emergency funds and the last can be for your reserve funds,

You are getting it all wrong with this your analogy here because I believe that it is not the best way to divide your discretionary income to invest with. Dividing your discretionary income into two part is not the right idea, but rather I think that three equal part will be much ok, one part for investment, one for your backup funds and the last part for your discretionary consumption, with that you can invest more comfortable and consistently without much trouble.

Why some investors have problems with their investments is because they don't even know that they must make provisions for discretionary consumption from their discretionary income, they just focus only on investment and back up funds which is not right.

I don’t know what you actually mean by discretionary consumption. Your discretionary income is meant to be divided into 3 bodies, which is for Investing, emergency funds and reserve funds. The reason I mentioned 2 or 3 bodies is because, some people might not have a very heavy discretionary income, so dividing it in 3 places will not only make their accumulation very slow but also the emergency funds will be small even when they hit an emergency problem, and they can be forced to sell untimely.

Discretionary consumption from what I believe you mean are not things to be considered before your investment and emergency and reserve funds. You can’t even include it as part of your investment circle mate. Bitcoin is meant to build a future with, and you bringing up spending on non essential food.

[Derekfunds]

Just as I have always said, Bitcoin investment has to be done with the right mindset and understanding of the market and your cash inflow; this proceeds from the point that you have chosen to apply the DCA approach in the most practical level, bitcoin accumulation is a journey that is exposed to alot of factors that could affect your total DCA flows, majority of time when I buy lumb sum of bitcoin it always happens within the range of my discretionary income and cash flow u use that metres to guide myself since I don't have stable discretionary cash flow to buy a set percentage of Bitcoin repeatedly.

Of course yes everything should be planned how to accumulate Bitcoin and also have the determination to hold for a long period of time because  without the right mentality someone can be pushed or tempted to sell before maturity that is why the right mentality and determination has to be there. The fact that you always use your discretionary income to  lump sum simply means you understood and have the right knowledge about Bitcoin because some people will use their expenses money to lump and that is gambling.

[Sim_card]

I don’t know what you actually mean by discretionary consumption. Your discretionary income is meant to be divided into 3 bodies, which is for Investing, emergency funds and reserve funds. The reason I mentioned 2 or 3 bodies is because, some people might not have a very heavy discretionary income, so dividing it in 3 places will not only make their accumulation very slow but also the emergency funds will be small even when they hit an emergency problem, and they can be forced to sell untimely.

Discretionary consumption from what I believe you mean are not things to be considered before your investment and emergency and reserve funds. You can’t even include it as part of your investment circle mate. Bitcoin is meant to build a future with, and you bringing up spending on non essential food.

Your discretionary consumption is very important as a long term bitcoin investor and shouldn't be neglected because investing in bitcion isn't punishment but a way to build wealth without depriving yourself from those things you will need to use part of your discretionary income for. Discretionary consumption is what you use part of your discretionary income to buy for yourself.

For instance, you went out under a sunny day and you feel like buying ice cream to cool your system or for your son. It wasn't plan and not necessarily needed but based on the scenario on ground, you decided to buy it. Even if you don't buy the ice cream, it doesn't change anything because you can do without it at that moment.

You are to consider your basic needs and monthly expenses first and set aside funds for them from your income because you cannot do without them and if you try, it will definitely, affect you. The left over is discretionary income which from there you can get your discretionary consumption. What Homemade-IQ said is right. You are to divide your discretionary income into three parts 1) weekly DCA, the second for building your emergency funds and last for your discretionary consumption.

[cyberninja2]

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Your discretionary consumption is very important as a long term bitcoin investor and shouldn't be neglected because investing in bitcion isn't punishment but a way to build wealth without depriving yourself from those things you will need to use part of your discretionary income for. Discretionary consumption is what you use part of your discretionary income to buy for yourself.

No one is looking for fault in investing. It's true, as you said, that we can't help but pursue our desire to continue investing, but we don't meet our daily consumption needs at all. This isn't a good thing, and I think it's better to avoid investing for now. The reason is quite clear: consumption needs are far more important than achieving maximum investment returns, but these needs are difficult to meet. This is one of the mistakes we make, especially when investing long-term.

Unless we have more than one income, that's a different story. The goal of prioritizing wealth is no longer a problem, as adjustments can be made. Many investors have set aside other sources of income to meet consumption needs, while only a small portion of them continue to focus on their goal of achieving wealth through their long-term investment plans.