Balancing Financial security and Bitcoin Accumulation

[JayJuanGee]

[edited out]

.But even with all this, these investors should still be able to make that conscious decision of ensuring that they don't place their entire risk their entire investment, by ensuring that their emergency funds remain untouched from any kind of daily spending. That boundary should always be maintained no.matter what

Sure there are likely best practices (and better practices), yet the limits and the lines are self-imposed, and yeah if they screw up, they might not realize it until some later point down the road, yet each person is charge of creating their own lines and limitations and also suffering the risks and the negative consequences if they cross over such lines whether they know that they are doing it or not.

Some guys are more risk loving and other guys are more risk averse, and some guys might suffer from their choices to draw lines in places that are more risky than they should be doing, and yeah, maybe it is not as BIG of a deal if they are the ONLY one suffering the consequences as contrasted with situations where they have familial responsibilities in regards to how risky they might be able to afford to be.

Take my earlier example of a guy who has a $1,500 per month income and is paid twice a week, and with $1k in monthly expenses.

Sure some guys might choose to invest most of the extra $500 into bitcoin, and other guys might ONLY be willing to invest around $100 or $200, so they want to make sure that they have back up funds that woudl be sufficient to cover any extra expenses that might come until the next pay period (in two weeks).

[Mr_Brilliant$]

All all of these shitcoins don’t even have a proper future mapped out, and people still go into them hoping for some miracle pump, kaii so annoying..  Then when it crashes, they look for who to blame instead of accepting that they gambled on something weak from the start..

Permit me to say that shitcoin investment it's a child's play, because whenever I see people fucking around shitcoin I do remember how kids play with fire because they felt is not harmful not until it harms their skin. So those who are ongoingly fucking around shitcoin would definitely learn their lesson, because advising them to stop fucking around shitcoin is more like depriving them from getting a good thing meanwhile you're trying as much as you could to prevent them from being messed up in the crypto market.

What I will say here is, some people capitalize on what they heard about shitcoin to just gambling on it without making good research on what it represents although sometimes people that do that shit are very much informed about the killer stuff called shitcoin but greed and quest to make quick money won't let them think straight, influencers on their own are busy doing their shit and people alow themselves to be deceived by those paid attention seekers.

Some persons are very good at blaming others for their decisions even if they know that they were actually their own problem and I see it as human nature, as long as developers knows that there are people that want to pack millions very quick, more shits will be developed and money mongers will continue to fall into their traps.

So true, like, most people do not even bother looking at what a project actually stands for, they just hear this one pumped 50x yesterday and jump straight in..  And yeah, greed plays a very big role,  once someone is in that rush to make quick money, their reasoning will just shuts down..  Influencers make it worse because they hype anything for clout or a paycheck, and people still fall for it thinking it is some good gem..

The truth is, nobody wants to admit they were chasing easy money, so when it crashes they look for someone to blame, influencers, developers, market conditions, everything except themselves..  But at the end of the day, it is still their own decision.. People like to dodge accountability because it hurts less than saying, Yeah, I messed up..

And as long as the developers know there is a crowd hungry for overnight millions, new nonsense tokens will keep popping up every day. It is a cycle that feeds on greed and zero patience..  If people do not slow down and actually do proper research, they will keep falling into the same traps over and over..

[Rockson1]

So true, like, most people do not even bother looking at what a project actually stands for, they just hear this one pumped 50x yesterday and jump straight in..  And yeah, greed plays a very big role,  once someone is in that rush to make quick money, their reasoning will just shuts down..  Influencers make it worse because they hype anything for clout or a paycheck, and people still fall for it thinking it is some good gem..

The truth is, nobody wants to admit they were chasing easy money, so when it crashes they look for someone to blame, influencers, developers, market conditions, everything except themselves..  But at the end of the day, it is still their own decision.. People like to dodge accountability because it hurts less than saying, Yeah, I messed up..

When the mind is being deceived and has accepted the hype shit already, it is left for the carrier which is we to establish the decision of the mind, some persons are not ready to learn thats where my problem is, many people that suffered in the hands of shits, are likely the ones still suffering because they called themselves risk takers and believe that since they were not able to get profit from the previous ones, the might getting it from the one at hand, they keep allowing shitcoin hypes to mess around with them because of their easy money mindset, they don't want to go through the right channel and that's how those shit inventor's keep giving them what they desire.

You don't expect humans not to look for excuses when they mess up, I think the blame you see is the excuse, that is human nature, which we can't do without.

[Barikui1]

So true, like, most people do not even bother looking at what a project actually stands for, they just hear this one pumped 50x yesterday and jump straight in..  And yeah, greed plays a very big role,  once someone is in that rush to make quick money, their reasoning will just shuts down.. 

It's not just greed that is the cause, even though they plays an important role why investors still gambles in shit coin. Ignorance is another thing that causes such actions by new investors because not everyone that will be aware of such risk and decide to dive in.

And as long as the developers know there is a crowd hungry for overnight millions, new nonsense tokens will keep popping up every day. It is a cycle that feeds on greed and zero patience.. 

This is no surprise to me because shit coin lives on hypes, so once the hype around a particular token is gone, and those that were lucky enough to make something out of the gamble they took have walked away, they moves on to the next target, but most investors have failed to understand that even though they are hell bent on taking such risk, they should be doing it with as low as 5% of their discretionary income after they have already invested like 70 or 80% of their discretionary income in Bitcoin, because by doing so they wouldn't be that bothered if their gamble on shit coin didn't go as planned.

[Umulala-alala]

‎The purpose of emergency funds is to cover unexpected or unwanted expenses used for our daily needs,  so it should be kept aside from any type of invest . Using it to invest of rubbish coins changees the purpose of emergency funds. The main thing is that it should be always ready when life decides to throw some punches to you.

I don't think our emergency funds is what we should be using to cover up for unexpected or unwanted expenses of our daily needs, that should be the duty of our reserve funds, our emergency funds is the last layer of protection of our Bitcoin holdings, so you should only be encroaching into it when faced with real life emergencies, not for daily unexpected minor needs.
Though I might be wrong, but that's what I think about our emergency funds.

Additionally, when keeping your emergency funds, it should be divided into three places, two should be kept in two different banks account and one place should be kept in cash for easy access, just in case you bank locks you out.

If i should contribute on this, i will love to emphasize that emergency funds and reserve funds both are kept to saver the same purpose for us, so you can prefer to make use of any one that is best to you but based on professionalism the word emergency funds is suitable for every investors to make use of, it is use to cover or solve any circumstance of any unforseen occurrence, so i disagree with you that emergency funds should not be seen as a means of covering unexpected expenses like you said earlier.

No mate emergency fund and reserve fund doesn't serve the same purpose as you proclaim, emergency fund and reserve fund are different funds that also serve different purpose, you can't use emergency fund to buy bitcoin but you can use your reserve fund to buy BTC and even buy more with it, while emergency fund is use to solve real emergency problem when they occur so that you can't sell your bitcoin when it's not yet the right time to sell, it can be considered gambling when an investor uses an emergency to buy BTC.

[Abelly]

‎The purpose of emergency funds is to cover unexpected or unwanted expenses used for our daily needs,  so it should be kept aside from any type of invest . Using it to invest of rubbish coins changees the purpose of emergency funds. The main thing is that it should be always ready when life decides to throw some punches to you.

I don't think our emergency funds is what we should be using to cover up for unexpected or unwanted expenses of our daily needs, that should be the duty of our reserve funds, our emergency funds is the last layer of protection of our Bitcoin holdings, so you should only be encroaching into it when faced with real life emergencies, not for daily unexpected minor needs.
Though I might be wrong, but that's what I think about our emergency funds.

Additionally, when keeping your emergency funds, it should be divided into three places, two should be kept in two different banks account and one place should be kept in cash for easy access, just in case you bank locks you out.

If i should contribute on this, i will love to emphasize that emergency funds and reserve funds both are kept to saver the same purpose for us, so you can prefer to make use of any one that is best to you but based on professionalism the word emergency funds is suitable for every investors to make use of, it is use to cover or solve any circumstance of any unforseen occurrence, so i disagree with you that emergency funds should not be seen as a means of covering unexpected expenses like you said earlier.

No mate emergency fund and reserve fund doesn't serve the same purpose as you proclaim, emergency fund and reserve fund are different funds that also serve different purpose, you can't use emergency fund to buy bitcoin but you can use your reserve fund to buy BTC and even buy more with it, while emergency fund is use to solve real emergency problem when they occur so that you can't sell your bitcoin when it's not yet the right time to sell, it can be considered gambling when an investor uses an emergency to buy BTC.

You are very right, emergency fund and reserve fund are not the same thing, and their purpose is completely different.
Emergency fund is created to deal with sudden financial problems or medical, personal emergencies. Therefore, it should never be used for BTC investment.
On the other hand, reserve fund is additional savings, with which an investor can buy BTC at a risk. By using it, at least there is no pressure to forcefully sell his position.
Anyone who buys Bitcoin with emergency fund, it is not an investment, but a direct gamble, because in a real emergency, he may have to sell at a loss.
Using reserve fund is the most reasonable method if you want to invest in BTC for the long term.

[Padi24]

Investing to get rich is not a bad thing, no matter what coin it is, but investing requires proper planning, patience, and money. The entire ecosystem of Shitcoin is designed in such a way that if you invest without understanding, there is a high chance of losing money in a new situation. People keep emergency funds to manage their lives in case they lose their jobs, but Bitcoin is long-term. Bitcoin is a long-term investment technology. This means that even if people cannot save money due to inflation, Bitcoin can help them create that savings. Many people also use Bitcoin savings as an emergency backup.

Surely our major aim of investing is to gain freedom and also live a standard life in the future, but since it is not guaranteed we ought to do it without having a full confident should Incase things go wrong we don't end up doing something crazy. And there's no point of hoping to become rich when you barely start your accumulation journey, an investor is supposed to think about becoming rich when he must have reach his investment goal/ or the status of overaccumulation. It is just like those who are into real estate they don't necessarily start taking profit from their business immediately but it's after they must have build everything to the normal standard that's when they will be looking into profit so you don't necessarily need to be talking about profit or becoming rich from your investment when you have not yet reach your investment goal or the status of overaccumulation.

[The Founding Titan]

‎The purpose of emergency funds is to cover unexpected or unwanted expenses used for our daily needs,  so it should be kept aside from any type of invest . Using it to invest of rubbish coins changees the purpose of emergency funds. The main thing is that it should be always ready when life decides to throw some punches to you.

I don't think our emergency funds is what we should be using to cover up for unexpected or unwanted expenses of our daily needs, that should be the duty of our reserve funds, our emergency funds is the last layer of protection of our Bitcoin holdings, so you should only be encroaching into it when faced with real life emergencies, not for daily unexpected minor needs.
Though I might be wrong, but that's what I think about our emergency funds.

Additionally, when keeping your emergency funds, it should be divided into three places, two should be kept in two different banks account and one place should be kept in cash for easy access, just in case you bank locks you out.

If i should contribute on this, i will love to emphasize that emergency funds and reserve funds both are kept to saver the same purpose for us, so you can prefer to make use of any one that is best to you but based on professionalism the word emergency funds is suitable for every investors to make use of, it is use to cover or solve any circumstance of any unforseen occurrence, so i disagree with you that emergency funds should not be seen as a means of covering unexpected expenses like you said earlier.

No mate emergency fund and reserve fund doesn't serve the same purpose as you proclaim, emergency fund and reserve fund are different funds that also serve different purpose, you can't use emergency fund to buy bitcoin but you can use your reserve fund to buy BTC and even buy more with it, while emergency fund is use to solve real emergency problem when they occur so that you can't sell your bitcoin when it's not yet the right time to sell, it can be considered gambling when an investor uses an emergency to buy BTC.

You are very right, emergency fund and reserve fund are not the same thing, and their purpose is completely different.
Emergency fund is created to deal with sudden financial problems or medical, personal emergencies. Therefore, it should never be used for BTC investment.
On the other hand, reserve fund is additional savings, with which an investor can buy BTC at a risk. By using it, at least there is no pressure to forcefully sell his position.
Anyone who buys Bitcoin with emergency fund, it is not an investment, but a direct gamble, because in a real emergency, he may have to sell at a loss.
Using reserve fund is the most reasonable method if you want to invest in BTC for the long term.

Sir JayJuanGee explain this difference between these funds for me a while back and I'm sure alot of other people can also benefit from it

https://bitcointalk.org/index.php?topic=5132720.msg66020793#msg66020793
His explanations were quite solid and I think it would be better to read it from his own words than mine.

[Loyang]

Investing to get rich is not a bad thing, no matter what coin it is, but investing requires proper planning, patience, and money. The entire ecosystem of Shitcoin is designed in such a way that if you invest without understanding, there is a high chance of losing money in a new situation. People keep emergency funds to manage their lives in case they lose their jobs, but Bitcoin is long-term. Bitcoin is a long-term investment technology. This means that even if people cannot save money due to inflation, Bitcoin can help them create that savings. Many people also use Bitcoin savings as an emergency backup.

Surely our major aim of investing is to gain freedom and also live a standard life in the future, but since it is not guaranteed we ought to do it without having a full confident should Incase things go wrong we don't end up doing something crazy. And there's no point of hoping to become rich when you barely start your accumulation journey, an investor is supposed to think about becoming rich when he must have reach his investment goal/ or the status of overaccumulation. It is just like those who are into real estate they don't necessarily start taking profit from their business immediately but it's after they must have build everything to the normal standard that's when they will be looking into profit so you don't necessarily need to be talking about profit or becoming rich from your investment when you have not yet reach your investment goal or the status of overaccumulation.

Every person's investment goals are different. Many are investing to build a house, while many are investing to buy a car. It does not make sense for everyone to have the same investment goal. Every person can hope to become rich from their investment. But one thing they have to keep in mind is what they are doing to become rich from their investment. There are many who hope to become rich by investing but do not invest properly or regularly and they quit their investment journey before reaching the goal of building a portfolio. If a person does this, then it will never be the right decision for them or for their goal of becoming rich from investment.

A person must do everything that is necessary to reach their goal. For example, to become rich from investment, a person should continue to invest continuously until he reaches the goal of building a portfolio, he must do everything that is necessary to manage his investment properly, he must create or acquire knowledge, etc. However, there is no guarantee that a person will become rich by investing in Bitcoin. Bitcoin is a very volatile currency market, and anything can happen at any time.

[PhilosopherKing]

Investing to get rich is not a bad thing, no matter what coin it is, but investing requires proper planning, patience, and money. The entire ecosystem of Shitcoin is designed in such a way that if you invest without understanding, there is a high chance of losing money in a new situation. People keep emergency funds to manage their lives in case they lose their jobs, but Bitcoin is long-term. Bitcoin is a long-term investment technology. This means that even if people cannot save money due to inflation, Bitcoin can help them create that savings. Many people also use Bitcoin savings as an emergency backup.

And there's no point of hoping to become rich when you barely start your accumulation journey, an investor is supposed to think about becoming rich when he must have reach his investment goal/ or the status of overaccumulation.

No. Having the thoughts of becoming rich during the early period of your accumulation is not problematic in any way, the problems begins arising when people begins making useless withdrawals at the early period before they reach their over-accumulation period, and such am actions can slow down your progress and completely fuck up your entire investment. To avoid this, people investing in Bitcoin should learn patience above chasing quick profits, by letting their investment compound overtime

.

[Proty]

Investing to get rich is not a bad thing, no matter what coin it is, but investing requires proper planning, patience, and money. The entire ecosystem of Shitcoin is designed in such a way that if you invest without understanding, there is a high chance of losing money in a new situation. People keep emergency funds to manage their lives in case they lose their jobs, but Bitcoin is long-term. Bitcoin is a long-term investment technology. This means that even if people cannot save money due to inflation, Bitcoin can help them create that savings. Many people also use Bitcoin savings as an emergency backup.

And there's no point of hoping to become rich when you barely start your accumulation journey, an investor is supposed to think about becoming rich when he must have reach his investment goal/ or the status of overaccumulation.

No. Having the thoughts of becoming rich during the early period of your accumulation is not problematic in any way, the problems begins arising when people begins making useless withdrawals at the early period before they reach their over-accumulation period, and such am actions can slow down your progress and completely fuck up your entire investment. To avoid this, people investing in Bitcoin should learn patience above chasing quick profits, by letting their investment compound overtime

.

it won't be a good idea to begin thinking of getting rich when we are still in our early phase of our accumulation. This will leads to trading because we want to become rich. If you are investing in bitcoin with the mindset of becoming rich when you don't have a good portfolio in bitcoin is a very wrong mindset. The focus should be on continuous buying and not on getting rich quick as this may distract you into wanting to take profits from your investment at an early stage.

[Futurexxx]

it won't be a good idea to begin thinking of getting rich when we are still in our early phase of our accumulation. This will leads to trading because we want to become rich. If you are investing in bitcoin with the mindset of becoming rich when you don't have a good portfolio in bitcoin is a very wrong mindset. The focus should be on continuous buying and not on getting rich quick as this may distract you into wanting to take profits from your investment at an early stage.

What you are saying is right, and I just want to add to what you have already said. Once an investor starts putting all his focus on getting rich through his Bitcoin investment he will not only be taking profit during his accommodations stage, but he will kill the potential growth of his Bitcoin investment and portfolio because of impatient of letting his portfolio grow.

Additionally, constant accumulation is what will makes you grow rich if you can do that for 10 years or more with consistency, not by investing only $50 and be expecting to be filthy rich overnight.

[Emjay24]

Some persons are very good at blaming others for their decisions even if they know that they were actually their own problem and I see it as human nature, as long as developers knows that there are people that want to pack millions very quick, more shits will be developed and money mongers will continue to fall into their traps.

People are fully aware of what they are doing on the crypto space, I've once told a friend that a crypto ponzi scheme which recently crashed in my country (CBEX) sampled fake documents and they would scam people and his response was that "He knows but he is early and he wants to cash out before it crashes". The greed in people is what is being exploited by the creators of these shitcoins that rugpulls every now and then and it is on the rise as it doesn't even take knowing how to code to generate one. As long as people remain greedy, scammers would keep cashing out real good.

It is of great importance that people face reality and become more inclined to quality investment like bitcoin and reduce how they gamble on these shitcoins because on the long-run most of them keep on loosing their hard earned money to the scammers.  Such a thing have never been heard in bitcoin, no rugpulls, no dump and exit and no central control, yet people would label it boring and go for the pump and dump schemes that ends up victimizing them. They are really the architect of their predicaments.

[abaeze]

it won't be a good idea to begin thinking of getting rich when we are still in our early phase of our accumulation. This will leads to trading because we want to become rich. If you are investing in bitcoin with the mindset of becoming rich when you don't have a good portfolio in bitcoin is a very wrong mindset. The focus should be on continuous buying and not on getting rich quick as this may distract you into wanting to take profits from your investment at an early stage.

What you are saying is right, and I just want to add to what you have already said. Once an investor starts putting all his focus on getting rich through his Bitcoin investment he will not only be taking profit during his accommodations stage, but he will kill the potential growth of his Bitcoin investment and portfolio because of impatient of letting his portfolio grow.

Additionally, constant accumulation is what will makes you grow rich if you can do that for 10 years or more with consistency, not by investing only $50 and be expecting to be filthy rich overnight.

You are right, to get rich in Bitcoin investment need investing for a long time through DCA with patience and time, there is a high probability of getting profit. However, if you withdraw part of the profit repeatedly due to excessive greed and haste, then your portfolio will be ruined. There is no shortcut to getting rich, it is possible to get rich through continuous accumulation in Bitcoin for 8-10 years. Therefore, continuous and long-term accumulation is the real and correct plan for investing in Bitcoin without expecting to get rich overnight. And it is possible to get rich through this plan.

[Promocodeudo]

it won't be a good idea to begin thinking of getting rich when we are still in our early phase of our accumulation. This will leads to trading because we want to become rich. If you are investing in bitcoin with the mindset of becoming rich when you don't have a good portfolio in bitcoin is a very wrong mindset. The focus should be on continuous buying and not on getting rich quick as this may distract you into wanting to take profits from your investment at an early stage.

In every investment we should expect to see people that think that there is already made money which they are going to carry once they investor there peanut immediately, but they don't realize that investment has stages one has to undergo to get the point where they can begin to reap what they sow, Bitcoin investment has taught many of us that wants to learn very big lesson to be patient and keep pushing our discreationary income into our Bitcoin investment in a gradual and steady manner, but to some people being patient building for their future means nothing to them, they want to get rich immediately and to me I think it is effortless mindset, Bitcoin investment validates the saying that there's dignity in labour, why would someone that has not make effort think of just making it big immediately, what a deceitful mindset.

[Mr_Brilliant$]

Investing to get rich is not a bad thing, no matter what coin it is, but investing requires proper planning, patience, and money. The entire ecosystem of Shitcoin is designed in such a way that if you invest without understanding, there is a high chance of losing money in a new situation. People keep emergency funds to manage their lives in case they lose their jobs, but Bitcoin is long-term. Bitcoin is a long-term investment technology. This means that even if people cannot save money due to inflation, Bitcoin can help them create that savings. Many people also use Bitcoin savings as an emergency backup.

And there's no point of hoping to become rich when you barely start your accumulation journey, an investor is supposed to think about becoming rich when he must have reach his investment goal/ or the status of overaccumulation.

No. Having the thoughts of becoming rich during the early period of your accumulation is not problematic in any way, the problems begins arising when people begins making useless withdrawals at the early period before they reach their over-accumulation period, and such am actions can slow down your progress and completely fuck up your entire investment. To avoid this, people investing in Bitcoin should learn patience above chasing quick profits, by letting their investment compound overtime

.

it won't be a good idea to begin thinking of getting rich when we are still in our early phase of our accumulation. This will leads to trading because we want to become rich. If you are investing in bitcoin with the mindset of becoming rich when you don't have a good portfolio in bitcoin is a very wrong mindset. The focus should be on continuous buying and not on getting rich quick as this may distract you into wanting to take profits from your investment at an early stage.

A lot of people dey rush the get rich part without even building small foundation first, their eye go first blur haha.. Bitcoin is not that kind business that you just enter today and expect life to change tomorrow… unless na luck carry you, and luck no dey pay consistently…

For me, I do always see it like planting, if you plant seed today and start digging the ground every two days to check progress, you will just stress the plant and still kill it join..  Same thing with Bitcoin… early stage na for steady accumulation, no be for daydream of Lambo. You buy small, hold small, stack your Btc, and let time do wetin time dey do.

Once person shift focus from i wan blow to make I just build my portfolio well, everything dey calm..

[Futurexxx]

What you are saying is right, and I just want to add to what you have already said. Once an investor starts putting all his focus on getting rich through his Bitcoin investment he will not only be taking profit during his accommodations stage, but he will kill the potential growth of his Bitcoin investment and portfolio because of impatient of letting his portfolio grow.

Additionally, constant accumulation is what will makes you grow rich if you can do that for 10 years or more with consistency, not by investing only $50 and be expecting to be filthy rich overnight.

You are right, to get rich in Bitcoin investment need investing for a long time through DCA with patience and time, there is a high probability of getting profit. However, if you withdraw part of the profit repeatedly due to excessive greed and haste, then your portfolio will be ruined. There is no shortcut to getting rich, it is possible to get rich through continuous accumulation in Bitcoin for 8-10 years. Therefore, continuous and long-term accumulation is the real and correct plan for investing in Bitcoin without expecting to get rich overnight. And it is possible to get rich through this plan.

Real wealth is built overtime not overnight, this is what most Bitcoin investors don't understand, they feels like once they invest in Bitcoin, even though it's a few box of cash, they will be rich in no distance time, not knowing that their is quite a lot of work to be done for an investor to attain such height, and it's through consistent accumulation for like 10 years or more in other to build a good stash of Bitcoin and hold for a long time, because the probability of Bitcoin changing your financial history forever is very high due to his rich potential.
So what am trying to say is that real wealth is built overtime not overnight as most new investors thinks.

[Gost ms]

What you are saying is right, and I just want to add to what you have already said. Once an investor starts putting all his focus on getting rich through his Bitcoin investment he will not only be taking profit during his accommodations stage, but he will kill the potential growth of his Bitcoin investment and portfolio because of impatient of letting his portfolio grow.

Additionally, constant accumulation is what will makes you grow rich if you can do that for 10 years or more with consistency, not by investing only $50 and be expecting to be filthy rich overnight.

You are right, to get rich in Bitcoin investment need investing for a long time through DCA with patience and time, there is a high probability of getting profit. However, if you withdraw part of the profit repeatedly due to excessive greed and haste, then your portfolio will be ruined. There is no shortcut to getting rich, it is possible to get rich through continuous accumulation in Bitcoin for 8-10 years. Therefore, continuous and long-term accumulation is the real and correct plan for investing in Bitcoin without expecting to get rich overnight. And it is possible to get rich through this plan.

Real wealth is built overtime not overnight, this is what most Bitcoin investors don't understand, they feels like once they invest in Bitcoin, even though it's a few box of cash, they will be rich in no distance time, not knowing that their is quite a lot of work to be done for an investor to attain such height, and it's through consistent accumulation for like 10 years or more in other to build a good stash of Bitcoin and hold for a long time, because the probability of Bitcoin changing your financial history forever is very high due to his rich potential.
So what am trying to say is that real wealth is built overtime not overnight as most new investors thinks.

Yes you are right. The person who thinks like this lacks the right knowledge which is why they think like this. There are many who do not research anything properly they always get half knowledge or wrong knowledge which is why they think like this. If a person starts investing in Bitcoin with basic knowledge and after that if they do not get the knowledge that is needed to protect their investment then they think like this.

A person should set a goal to build a portfolio When a person reaches his goal of building a portfolio he has to wait until his time limit is over. This journey may seem easy but it is very difficult

[Nightwatchmare]

‎The purpose of emergency funds is to cover unexpected or unwanted expenses used for our daily needs,  so it should be kept aside from any type of invest . Using it to invest of rubbish coins changees the purpose of emergency funds. The main thing is that it should be always ready when life decides to throw some punches to you.

I don't think our emergency funds is what we should be using to cover up for unexpected or unwanted expenses of our daily needs, that should be the duty of our reserve funds, our emergency funds is the last layer of protection of our Bitcoin holdings, so you should only be encroaching into it when faced with real life emergencies, not for daily unexpected minor needs.
Though I might be wrong, but that's what I think about our emergency funds.

Additionally, when keeping your emergency funds, it should be divided into three places, two should be kept in two different banks account and one place should be kept in cash for easy access, just in case you bank locks you out.

Expenses that you do not plan for are not day-to-day expenses; they are unexpected or unwanted expenses, and it is best for you to use your emergency funds to solve the expenses because that is the purpose why you set up emergency funds in the first place. You are absolutely wrong with how you think we should use our emergency funds. Keeping your emergency funds in two different banks is good, but for you not to mistakenly use your emergency funds, you should keep your emergency funds in one bank that you do not use regularly so you will not mistakenly use your emergency funds on the things that are not emergencies.

[NewRevelation]

 Those who have no backup funds at all should first create a minimum financial security because Bitcoin investment is not reasonable without discretionary income

. Before starting to invest in Bitcoin, it is essential to have a financial foundation, backup funds and basic knowledge. Real stable progress is possible if you can build a safety fund along with investments.

I don't think this is a good advice. How long will it take an investor to acquire all this points you mentioned above before he can start his investment?  Create a back funds first, have a financial foundation and get basic knowledge? This means that the potential investor might end up not starting at all since it might take him a whole lot of time to gather all these points you have mentioned together.

I don't think a newbie needs all these to be on ground first before starting up his investment. What he needs mainly to start is his ability to figure out his discretionary income, of course, that's after he must have settled all basic needs. Then he can now begin his investment immediately, accumulating Bitcoin using the DCA strategy. All the points you highlighted above can now come in. He can while he has started his investment, build his emergency funds and other back up funds, acquire more knowledge about Bitcoin investment and how best that will suit him and/or his cash flow, learn proper income allocation and management skills etc, and of course, everything must be geared towards building a portfolio for a long term investment. Waiting to gather all that you mentioned is a wrong investment mentality as it will keep you out of investment while others keep growing there portfolio. Getting started is the real deal, others can come along gradually