Does the DCA strategy inspire newbies to invest?

[Taskford]

It is all about making sacrifices. So person can sacrifice their pride and time and learn a skill. Imo nobody is big to learn a skill, nobody is also too big to get a small business . Guys should just do what the fuck they can get them more money. And once they get more money and their incomes has increase the person will have more discretionary income for ongoingly investing.

I doubt that it is fair to presume that all poor people can figure out ways to increase their income and/or cut their expenses, even though sure, there may well be some poor people who might be able to lift themselves up by their bootstraps and increase the amount of their discretionary funds.  Others might not be able to increase their discretionary funds in meaningful ways, whether it is age, health or maybe various other encumbrances that they might have related to their past relationships or what they were born into.

Really hard to presume because not everyone have equal opportunities. In reality many people actually struggles to achieve that even if they work even more harder.

Many people encountered uncontrollable issues, especially when they are currently in that situation you have discussed here.

But what's good to look at is even if they are facing that situations, its really good to see those people show some interest and eagerness to invest on Bitcoin. There's good chance that their eagerness and efforts would put them in much better position in future.

[Rockson1]

While DCA is important for building a long term Bitcoin holding, it is equally important for you to build an emergency fund. If a new investor does not have an emergency fund he can build one while he is still accumulating Bitcoin. It is not certain that an emergency fund will be needed in the long term investment journey. You need to be prepared to maintain your Bitcoin holdings. This fund is less important to some long term investors but you must understand its importance. Another important strategy is to keep cash flow available as this fund will entice you to increase purchases during dumping and help you meet small emergency needs.

If it is not certain that emergency funds will be useful in the long-term by an investor, why then is it necessary for every investor to build emergency funds? Aren't you getting something wrong, I think their is a misconception somewhere, emergency funds are funds we build to help us in safeguarding our Bitcoin investment mainly when there are emergencies as we journey for a long-term in Bitcoin acumulating, so why will you make such contradicting comment? Maybe I should make you understand this fact, I do not think that emergency funds is seen as less of a priority to any real investor, you talked about folks being ready and prepared to maintain there bitcon investment, and you made such comment about emergency funds, I think you should have known that by maintaining your Bitcoin investment, your discretionary income and emergency funds are the major priority.

[Halifat]

While DCA is important for building a long term Bitcoin holding, it is equally important for you to build an emergency fund. If a new investor does not have an emergency fund he can build one while he is still accumulating Bitcoin. It is not certain that an emergency fund will be needed in the long term investment journey. You need to be prepared to maintain your Bitcoin holdings. This fund is less important to some long term investors but you must understand its importance. Another important strategy is to keep cash flow available as this fund will entice you to increase purchases during dumping and help you meet small emergency needs.

If it is not certain that emergency funds will be useful in the long-term by an investor, why then is it necessary for every investor to build emergency funds? Aren't you getting something wrong, I think their is a misconception somewhere, emergency funds are funds we build to help us in safeguarding our Bitcoin investment mainly when there are emergencies as we journey for a long-term in Bitcoin acumulating, so why will you make such contradicting comment? Maybe I should make you understand this fact, I do not think that emergency funds is seen as less of a priority to any real investor, you talked about folks being ready and prepared to maintain there bitcon investment, and you made such comment about emergency funds, I think you should have known that by maintaining your Bitcoin investment, your discretionary income and emergency funds are the major priority.

I'm happy that you clarified him because maybe he is not ready for bitcoin investment, or should I say he is into trading because this is how traders behave. A real investor does not talk or behave like this, they always focus on building their bitcoin portfolio for a very long time, for about 4 to 8 years holding. Traders are always the one complaining about emergency fund and also discretionary consumption and so many things, they always see it in a different perspective, that is why when I'm talking to them, I easily noticed them. I think you have omitted one of the major priority which is discretionary consumption, it also very important to make you comfortable when you are investing in Bitcoin for a very long term.

[adultcrypto]

While DCA is important for building a long term Bitcoin holding, it is equally important for you to build an emergency fund. If a new investor does not have an emergency fund he can build one while he is still accumulating Bitcoin. It is not certain that an emergency fund will be needed in the long term investment journey. You need to be prepared to maintain your Bitcoin holdings. This fund is less important to some long term investors but you must understand its importance. Another important strategy is to keep cash flow available as this fund will entice you to increase purchases during dumping and help you meet small emergency needs.

You don't wait for the need of an emergency funds to arise before you start setting it up, then it would be too late. To avoid such situation, emergency funds should be set up as soon as practically possible to avoid ruining your bitcoin investment. It is called emergency funds which serve similar purpose as insurance policy. You don't pray for emergency but you plan for it just in case it happens. If you are lucky and it does not happen within the period you play to receive more inflow, then you can use the excess to increase your holding. The money is never going to be a waste so you should consider the advantages of having emergency funds in place and act wisely.

[Jewan420]

While DCA is important for building a long term Bitcoin holding, it is equally important for you to build an emergency fund. If a new investor does not have an emergency fund he can build one while he is still accumulating Bitcoin. It is not certain that an emergency fund will be needed in the long term investment journey. You need to be prepared to maintain your Bitcoin holdings. This fund is less important to some long term investors but you must understand its importance. Another important strategy is to keep cash flow available as this fund will entice you to increase purchases during dumping and help you meet small emergency needs.

If it is not certain that emergency funds will be useful in the long-term by an investor, why then is it necessary for every investor to build emergency funds? Aren't you getting something wrong, I think their is a misconception somewhere, emergency funds are funds we build to help us in safeguarding our Bitcoin investment mainly when there are emergencies as we journey for a long-term in Bitcoin acumulating, so why will you make such contradicting comment? Maybe I should make you understand this fact, I do not think that emergency funds is seen as less of a priority to any real investor, you talked about folks being ready and prepared to maintain there bitcon investment, and you made such comment about emergency funds, I think you should have known that by maintaining your Bitcoin investment, your discretionary income and emergency funds are the major priority.

I think you are misunderstanding @cxtreenal due to his language problem. I have read the bolded sentence several times. I think he meant that there is no guarantee that you will need to use an emergency fund in your long-term investment journey, but you should still have an emergency fund to protect your Bitcoin holdings. Because emergencies are unpredictable, they may or may not come in your life. If that is what he meant, I think he is right.

In the words below and above the bolded part, he is talking about the importance of an emergency fund, only the middle line is controversial. However, we need to be prepared for every outcome of our investments and be prepared for every moment.

[Grease5000]

While DCA is important for building a long term Bitcoin holding, it is equally important for you to build an emergency fund. If a new investor does not have an emergency fund he can build one while he is still accumulating Bitcoin. It is not certain that an emergency fund will be needed in the long term investment journey. You need to be prepared to maintain your Bitcoin holdings. This fund is less important to some long term investors but you must understand its importance. Another important strategy is to keep cash flow available as this fund will entice you to increase purchases during dumping and help you meet small emergency needs.

DCA and an emergency fund can be built together. If you have discretionary income, you can put  some percentage into bitcoin and  some part into building your emergency fund.

I also agree  with the idea of that keeping so backup fund available because it can can help if you need extra buy of bitcoin for any other things, but I don't recommend keeping cash mainly for purpose  of buying every dip. For me, the priority is simple, first your essentials needs, build some financial cushion, and use only discretionary income to keep accumulating bitcoin tcoin without having to put yourself under pressure.

[Sammysmart001]

Really hard to presume because not everyone have equal opportunities. In reality many people actually struggles to achieve that even if they work even more harder.

This were DCA is very useful for those who don’t have many of opportunities to increase their income . Necessarily Increasing of amount you invest over time is not how DCA works. You can still invest consistently with your limited income, so more it doesn’t put pressure on your basics needs. Making the investment fit your situation is an important part than having to compare their progress with someone who has a bigger income.

[Homemade-IQ]

I think you are misunderstanding @cxtreenal due to his language problem. I have read the bolded sentence several times. I think he meant that there is no guarantee that you will need to use an emergency fund in your long-term investment journey, but you should still have an emergency fund to protect your Bitcoin holdings. Because emergencies are unpredictable, they may or may not come in your life. If that is what he meant, I think he is right.

Making assumptions that you may not use your emergency funds in the future is absurd because that statement might makes an investor to be complacent, and because of that, he may be tempted to invest with it or may not build a very strong emergency funds that can fend for him very well in a period of three months and above.

A bitcoin investor need to prepare for an emergency situation all the time, because it can come at any time, so even making such ultrances that you may not make use of your emergency funds in the future is wrong, because it can mislead some investors to not prepare for emergencies.

[samadam007]

I also agree  with the idea of that keeping so backup fund available because it can can help if you need extra buy of bitcoin for any other things, but I don't recommend keeping cash mainly for purpose  of buying every dip. For me, the priority is simple, first your essentials needs, build some financial cushion, and use only discretionary income to keep accumulating bitcoin tcoin without having to put yourself under pressure.

Relax man, don't confuse yourself. Are you aware that emergency fund falls under backup fund? So when you say folks should keep backup fund incase they want to buy more Bitcoin during a dip, you need to specify the type of backup fund you’re talking about otherwise it can sound like you are encouraging to use their emergency fund for dips.

If you mean reserve fund, then yes… that is different. A reserve fund is more flexible and can be used for dips and smaller emergencies, unlike emergency funds which should not be touched unless the person has real life emergency and his reserve is not enough to take care of it.

[Charcol]

While DCA is important for building a long term Bitcoin holding, it is equally important for you to build an emergency fund. If a new investor does not have an emergency fund he can build one while he is still accumulating Bitcoin. It is not certain that an emergency fund will be needed in the long term investment journey. You need to be prepared to maintain your Bitcoin holdings. This fund is less important to some long term investors but you must understand its importance. Another important strategy is to keep cash flow available as this fund will entice you to increase purchases during dumping and help you meet small emergency needs.

If it is not certain that emergency funds will be useful in the long-term by an investor, why then is it necessary for every investor to build emergency funds? Aren't you getting something wrong, I think their is a misconception somewhere, emergency funds are funds we build to help us in safeguarding our Bitcoin investment mainly when there are emergencies as we journey for a long-term in Bitcoin acumulating, so why will you make such contradicting comment? Maybe I should make you understand this fact, I do not think that emergency funds is seen as less of a priority to any real investor, you talked about folks being ready and prepared to maintain there bitcon investment, and you made such comment about emergency funds, I think you should have known that by maintaining your Bitcoin investment, your discretionary income and emergency funds are the major priority.

Saying "you are not sure if you will need an emergency fund" does not mean that an emergency fund is not important. We need an emergency fund because of uncertainty. You cannot predict in advance when an illness, work problems, family stress or unexpected expenses will come into your life. Therefore, it is advisable to have an emergency fund so that if an emergency situation really comes, especially when the market price is lower than the price you bought it, you are not forced to sell at a loss.

However, it is not necessary to have an emergency fund at the beginning. Because this makes many new investors busy building an emergency fund and if they wait to invest, it will be a worse decision. Therefore, as a realistic strategy, it is recommended to continue to build an emergency fund and invest with a portion of discretionary income. In this time, he will save himself from waiting or regretting for either knowledge, investment and emergency fund.

[DubemIfedigbo001]

I think you should have known that by maintaining your Bitcoin investment, your discretionary income and emergency funds are the major priority.

I think you have omitted one of the major priority which is discretionary consumption, it also very important to make you comfortable when you are investing in Bitcoin for a very long term.

Discretionary consumption is not important to "maintain" your bitcoin investment. It is important for your own comfort and recreational purposes, but when it comes to maintaining your bitcoin portfolio, your discretionary income and backup funds are the priority, and in backup funds, your emergency fund is the most important which serves as a last option not to tap into your holdings in the case of emergencies or financial difficulties.

[Halifat]

I think you should have known that by maintaining your Bitcoin investment, your discretionary income and emergency funds are the major priority.

I think you have omitted one of the major priority which is discretionary consumption, it also very important to make you comfortable when you are investing in Bitcoin for a very long term.

Discretionary consumption is not important to "maintain" your bitcoin investment. It is important for your own comfort and recreational purposes, but when it comes to maintaining your bitcoin portfolio, your discretionary income and backup funds are the priority, and in backup funds, your emergency fund is the most important which serves as a last option not to tap into your holdings in the case of emergencies or financial difficulties.

If you can understand me very well, I said he omitted, what I would like you to do is that please check properly the meaning of it so that you can understand what I'm saying exactly. We know the Discretionary consumption is not very important, but they cannot be neglect because it is something we need in our daily life and emergency fund is not made to solve those problem, that is why it is also very important to think of it when planning a long term investment. I don't know how you may describe yours but on my own view, it is better we have it, remember our investment is a very long term and definitely we really have to go Vacation and there are other things that we need to do within the period.

[eXo_coin]

Discretionary consumption is not important to "maintain" your bitcoin investment. It is important for your own comfort and recreational purposes, but when it comes to maintaining your bitcoin portfolio, your discretionary income and backup funds are the priority, and in backup funds, your emergency fund is the most important which serves as a last option not to tap into your holdings in the case of emergencies or financial difficulties.

With this fund, I believe we don't need to worry about solving problems, as we have an emergency fund or reserve fund set aside before starting Bitcoin investment.
This is an advantage for us in investing, as we don't need to use our existing assets, and they will always be a solid asset for our future, accumulating each time we make a purchase.

Our goal in having an emergency fund or reserve fund is to prioritize it only in situations that sometimes require us to use existing assets, but having this fund makes us feel more comfortable in resolving any problems that arise with our investments.

[Sticky Bomb]

With this fund, I believe we don't need to worry about solving problems, as we have an emergency fund or reserve fund set aside before starting Bitcoin investment.

Actually, we don't necessarily need emergency fund and reserve funds set aside before starting our Bitcoin journey, if we've backup funds already before we got into Bitcoin, then it might do us some good to deploy some of it to lump sum or front laod our investment instead of Idly piling up cash.

Investors who don't have backup funds can start right away and build them alongside buying and holding Bitcoin. There's no need to keep waiting while you have discretionary income, such delays are unnecessary. Again it doesn't make sense building emergency fund when you don't have Bitcoin, that's misappropriation of priorities. The first priority is to check if you've discretionary income, of you do, then you're ready for your first purchase, you can now keep buying consistently and building backup funds alongside your consistent buys.

[Son Of Blockchain (SOB)]

Edited..

Really hard to presume because not everyone have equal opportunities. In reality many people actually struggles to achieve that even if they work even more harder.

Many people encountered uncontrollable issues, especially when they are currently in that situation you have discussed here.

But what's good to look at is even if they are facing that situations, its really good to see those people show some interest and eagerness to invest on Bitcoin. There's good chance that their eagerness and efforts would put them in much better position in future.

I understand Sir Jay's point of view about poor people figuring out how to increase their income, some people are just so unfortunate and always get hit hard by life to the point that it affects them from progressing even when they're putting much effort too, if i were superstitious i would've said it's a generational curse like some superstitious do think about such people, well their case is understandable.
 However there are those who have opportunities to change their situations but are too lazy to put in effort or sacrifice their time and effort to make sure their situation changes. Everyone can never have equal opportunities but some people misuse their chances of changing their situations, sometimes it might not even be lack of effort but have to patience in allowing their efforts produce live changing opportunities.

[Rockson1]

I think you are misunderstanding @cxtreenal due to his language problem. I have read the bolded sentence several times. I think he meant that there is no guarantee that you will need to use an emergency fund in your long-term investment journey, but you should still have an emergency fund to protect your Bitcoin holdings. Because emergencies are unpredictable, they may or may not come in your life. If that is what he meant, I think he is right.

In the words below and above the bolded part, he is talking about the importance of an emergency fund, only the middle line is controversial. However, we need to be prepared for every outcome of our investments and be prepared for every moment.

Do you think that it is necessary for any person to say that it is not certain that emergency funds will be needed by any investor in their long-term Bitcoin investment journey giving the importance of emergency funds? After saying that, he went ahead to say that investors still need to have it, isn't that confusing to some extent, we are discussing Bitcoin investment, discreationary income and emergency funds, should be the center of discussion, so any statement that does not go in line with the right approach of Bitcoin investment should be countered so that newbies wouldn't see it as something that is right and worth trying.

[Merit.s]

With this fund, I believe we don't need to worry about solving problems, as we have an emergency fund or reserve fund set aside before starting Bitcoin investment.

It's wrong to delay your bitcoin investment when your discretionary income is available just because you want to set up an emergency funds and reserve funds to protect your investment from premature sales. It's going to waste your time because it can take more than one year for a low income earner to build up his emergency funds of at least three months of his income. You are still a no coiner and there is no need to continue to be a low coiner and start piling up fiat that depreciates in value without getting started with your bitcoin investment that is a long term asset and a store of value overtime.

In the long run, you will only accumulate a little size of bitcoin stash. This is why there is no need wating time just get started provided that you have figured out your discretionary income and how much you want to use to buy bitcoin from it to enable you keep your DCA ongoing till you reach your bitcoin target. Since, you don't have any backup funds before you decided to invest into bitcoin, you can build your bitcoin investment simultaneously with your emergency funds till it has reached three months of your monthly expenses. It's better to be a low coiner than a no coiner.

This is an advantage for us in investing, as we don't need to use our existing assets, and they will always be a solid asset for our future,

lastly, some people already have some investment on ground and they choose to diversify from that investment into bitcoin which I don't think that it's a bad idea.

[Gost ms]

With this fund, I believe we don't need to worry about solving problems, as we have an emergency fund or reserve fund set aside before starting Bitcoin investment.

Waiting to start investing, to build an emergency fund is not the right decision at all. You can build an investment and an emergency fund in a balanced way at the same time. If you divide your discretionary income into three categories: emergency fund, investments and extra expenses. If you divide your discretionary income in this way, you can easily build an emergency fund and investments and extra weekly or monthly expenses at the same time, all in a balanced way.

If you wait to start investing until you have built your emergency fund, you will definitely miss out on buying opportunities, you may not be willing to invest due to the fear of seeing the market fall, and you will fall far behind the goal of building a portfolio. So if you build your investment and emergency fund at the same time, you will definitely protect yourself from such risks and setbacks.

[Hardyrobust]

With this fund, I believe we don't need to worry about solving problems, as we have an emergency fund or reserve fund set aside before starting Bitcoin investment.

It's wrong to delay your bitcoin investment when your discretionary income is available just because you want to set up an emergency funds and reserve funds to protect your investment from premature sales. It's going to waste your time because it can take more than one year for a low income earner to build up his emergency funds of at least three months of his income. You are still a no coiner and there is no need to continue to be a low coiner and start piling up fiat that depreciates in value without getting started with your bitcoin investment that is a long term asset and a store of value overtime.

In the long run, you will only accumulate a little size of bitcoin stash. This is why there is no need wating time just get started provided that you have figured out your discretionary income and how much you want to use to buy bitcoin from it to enable you keep your DCA ongoing till you reach your bitcoin target. Since, you don't have any backup funds before you decided to invest into bitcoin, you can build your bitcoin investment simultaneously with your emergency funds till it has reached three months of your monthly expenses. It's better to be a low coiner than a no coiner.

This is an advantage for us in investing, as we don't need to use our existing assets, and they will always be a solid asset for our future,

lastly, some people already have some investment on ground and they choose to diversify from that investment into bitcoin which I don't think that it's a bad idea.

It is best to be a low coiner rather than having no bitcoin. The idea is just to start small even without an emergency funds and it is possible to set up an emergency funds while still ongoing with bitcoin accumulation using a percentage of our discretionary income for doing this. However, most people won't want to start small because they fail to appreciate the importance of starting small. Starting small and being consistent with bitcoin accumulation can really pay up in the long run. I believe there are people that started without already having an emergency funds but today they have a good bitcoin holdings with an emergency funds .

[Perfect-World]

Discretionary consumption is not important to "maintain" your bitcoin investment. It is important for your own comfort and recreational purposes, but when it comes to maintaining your bitcoin portfolio, your discretionary income and backup funds are the priority, and in backup funds, your emergency fund is the most important which serves as a last option not to tap into your holdings in the case of emergencies or financial difficulties.

I got your points, but the use of NOT IMPORTANT for discretionary consumption initially makes it look like it has not meaning or shouldn't be catered for, not until I read over and over again before I understood your point.  Perhaps, you would have just said,, discretionary consumption is not used to buy Bitcoin or maintain it, but it is used for your personal discretionary needs and some personal treat when necessary, while on the other hand, in building your portfolio, part of your discretionary is used to buy Bitcoin and some part too used for building back up funds.

This way, some newbies wouldn't get to think initially that discretionary consumption is not important at all as a initially thought too. In addition too, all of these, both discretionary consumption, buying Bitcoin, building emergency funds and other back up funds all comes from your discretionary income which is gotten after settling basic needs.

With this fund, I believe we don't need to worry about solving problems, as we have an emergency fund or reserve fund set aside before starting Bitcoin investment.
This is an advantage for us in investing, as we don't need to use our existing assets, and they will always be a solid asset for our future, accumulating each time we make a purchase.

Our goal in having an emergency fund or reserve fund is to prioritize it only in situations that sometimes require us to use existing assets, but having this fund makes us feel more comfortable in resolving any problems that arise with our investments.

Emergency funds are not the same with reserve funds, but they are both back up funds. Our discretionary income is used to buy Bitcoin while we use our emergency funds to ward off unexpected financial demands that may tempt us to tamper with our investments.