Balancing Financial security and Bitcoin Accumulation

[fredericktaylor]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

[Tungbulu]

It would be better if you refer to bitcoin as bitcoin because if you refer to bitcoin as cryptocurrency, you might mislead newbies to believe bitcoin is the same as altcoins or shitcoins and they might invest their money into altcoins or shitcoins, thinking they are investing in bitcoin. So for newbies to avoid such a mistake in their early stage, always refer to bitcoin as bitcoin so that they will know bitcoin is different from cryptocurrency. Don't be deceived; Bitcoin is absolutely different from cryptocurrency, and there's nothing like Bitcoin. And even though Bitcoin isn't the first decentralised digital asset or currency, it would still outperform cryptocurrencies because Bitcoin allows you to send money to anyone in the world without trusting a middleman.

You are totally right. Newbies need to know between Bitcoin and cryptocurrency. We can call any digital currency out there to be a cryptocurrency and by how they perform, they are literally not match to Bitcoin. Bitcoin does wonders, while some so called cryptocurrencies make the digital currency system sucks. Many projects are rug pull, scams, pump and dump, in general we called them shitcoins. And this have made many lose interest in Bitcoin too, tagging them to be all the same. This is the main reason why Bitcoin should not be categorized under cryptocurrency. Bitcoin is Bitcoin so let that sink in.

I don't understand what you mean by newbies need to know the difference between bitcoin and cryptocurrency, you're making it seem like bitcoin is not a cryptocurrency whereas it is, regardless of what you think or how any newbie wants to feel it won't change the fact that bitcoin falls under the category of a cryptocurrency infact all digital currencies are cryptocurrencies.
 You've already contradict yourself by saying we can refer to all digital currencies as cryptocurrency then you're saying bitcoin is not a cryptocurrency, how is it not when bitcoin is said to be a digital currency? Bitcoin is the first cryptocurrency, no other cryptocurrencies can match bitcoin, it supercedes all, those are very correct but newbies should understand that Bitcoin still fall under the category of a cryptocurrency.

Using the term cryptocurrency might be some kind of confusing since there are many other coin untrustworthy coin in cryptocurrency that's why it's be emphasis to use the term Bitcoin since the topic we are discussing is regarding to Bitcoin so using cryptocurrency is like taking us to a different topic which can be seen as off topic so instead of using cryptocurrency you are either say shitcoins or Bitcoin depending on the one you want to talk about so I don't see what is there that you can't understand.

Yeah.. it is unclear if SOB is actually ignorant or he is just acting ignorant when he is arguing technicalities in regards to trying to suggest that there is some kind of smartness to lump bitcoin in with other cryptocurrencies or to suggest that there is some value in using such a vague, ambiguous and misleading term.  Yes.. many of us likely realize that technically bitcoin fits within the category of cryptocurrency.. yet at the same time, there are so many shitcoin pumpers and bitcoin naysayers who use such term of cryptocurrency in order to either conflate the differences or to engage in affinity scams that try to suggest that there are shitcoins that are equally good as bitcoin or better than bitcoin, yet at the same time, such affinity scams are merely either to pump up some undeserving shitcoin in order to scam people out of money or to denigrate or create confusion about bitcoin., and surely there are many folks who want to beat up on bitcoin and keep bitcoin down because they either don’t understand bitcoin or they feel threatened by bitcoin..  Bitcoin has been and will likely continue to disrupt and disintermediate various status quo rich institutions, governments and/or individuals, and instead of joining bitcoin, they prefer to fight bitcoin through whatever means that they can, including but not limited to disinformation and/or the creation of confusion.. and the promotion and use of the term crypto currency is one of those disinformation tools..

A lot of people make the mistake of using the word crypto currency to imply that all digital currencies are created equal, which is very far from the truth and in fact the worst misconceptions anyone could ever have about Bitcoin, because Bitcoin's unique properties, track records and potentials for long term growth sets it apart from every other digital assets.

It's totally clear that some individuals and even groups have attempted and are still trying to undermine the credibility of Bitcoin and even creating a confusion about its value. By lumping in Bitcoin with crypto currencies, they might actually be trying to imply that Bitcoin is just another of these speculative asset or that Bitcoin also shares the same vulnerability as other digital currencies.
But just as you've rightly stated, Bitcoin's disruption of traditional or centralised institutions and power structures has become a major threat to those individuals and groups who highly benefits from the status quo. Some of them might feel threatened by Bitcoin's potentials to disintermediate then or potentially reduce their influence over the financial system. 

Using the term crypto currency to address Bitcoin will certainly obscure Bitcoin's unique value of proposition and this can be seen as a form of disinformation and can be misleading, especially when newbies are exposed to such information. It's crucial for folks to be aware of these tactics and try as much as possible to clearly distinguish Bitcoin from other digital currencies as they have absolutely no connection or relationship. And by adhering to this, it'll be easier to promote a more accurate description, understanding and knowledge of Bitcoin's uniqueness, value and true potentials.

[Derekfunds]

It would be better if you refer to bitcoin as bitcoin because if you refer to bitcoin as cryptocurrency, you might mislead newbies to believe bitcoin is the same as altcoins or shitcoins and they might invest their money into altcoins or shitcoins, thinking they are investing in bitcoin. So for newbies to avoid such a mistake in their early stage, always refer to bitcoin as bitcoin so that they will know bitcoin is different from cryptocurrency. Don't be deceived; Bitcoin is absolutely different from cryptocurrency, and there's nothing like Bitcoin. And even though Bitcoin isn't the first decentralised digital asset or currency, it would still outperform cryptocurrencies because Bitcoin allows you to send money to anyone in the world without trusting a middleman.

You are totally right. Newbies need to know between Bitcoin and cryptocurrency. We can call any digital currency out there to be a cryptocurrency and by how they perform, they are literally not match to Bitcoin. Bitcoin does wonders, while some so called cryptocurrencies make the digital currency system sucks. Many projects are rug pull, scams, pump and dump, in general we called them shitcoins. And this have made many lose interest in Bitcoin too, tagging them to be all the same. This is the main reason why Bitcoin should not be categorized under cryptocurrency. Bitcoin is Bitcoin so let that sink in.

I don't understand what you mean by newbies need to know the difference between bitcoin and cryptocurrency, you're making it seem like bitcoin is not a cryptocurrency whereas it is, regardless of what you think or how any newbie wants to feel it won't change the fact that bitcoin falls under the category of a cryptocurrency infact all digital currencies are cryptocurrencies.
 You've already contradict yourself by saying we can refer to all digital currencies as cryptocurrency then you're saying bitcoin is not a cryptocurrency, how is it not when bitcoin is said to be a digital currency? Bitcoin is the first cryptocurrency, no other cryptocurrencies can match bitcoin, it supercedes all, those are very correct but newbies should understand that Bitcoin still fall under the category of a cryptocurrency.

Bitcoin is in a world of its own, and no cryptocurrency can be compared to Bitcoin. It doesn't make sense if you classify Bitcoin as cryptocurrency because there are so many cryptocurrencies that have rendered some investors useless and made some investors commit suicide because of the money they lost in cryptocurrency investments. So for newbies not to see Bitcoin as a coin that's not free from scam, rug pull, and pump and dump and become skeptical of investing in Bitcoin, it would be good if you refer to Bitcoin as Bitcoin anytime you are discussing Bitcoin so that newbies will know there is a big difference between Bitcoin and cryptocurrency, which will help them invest in Bitcoin without being skeptical.

Actually both Bitcoin, shitcoin, altcoins etc are all embedded in Cryptocurrency but because of the potentials Bitcoin has over all other coin, we have to address it different from other cryptocurrency and we ought to specify Bitcoin whenever we are talking about it so that newbie won't go and invest in the wrong place and I believe these are the reasons we should not..., maybe when those other cryptocurrency prove themselves they can also be set aside as Bitcoin but until then Bitcoin shouldn't be address as cryptocurrency because there is more to Bitcoin than those...

[cxtreenal]

It would be better if you refer to bitcoin as bitcoin because if you refer to bitcoin as cryptocurrency, you might mislead newbies to believe bitcoin is the same as altcoins or shitcoins and they might invest their money into altcoins or shitcoins, thinking they are investing in bitcoin. So for newbies to avoid such a mistake in their early stage, always refer to bitcoin as bitcoin so that they will know bitcoin is different from cryptocurrency. Don't be deceived; Bitcoin is absolutely different from cryptocurrency, and there's nothing like Bitcoin. And even though Bitcoin isn't the first decentralised digital asset or currency, it would still outperform cryptocurrencies because Bitcoin allows you to send money to anyone in the world without trusting a middleman.

You are totally right. Newbies need to know between Bitcoin and cryptocurrency. We can call any digital currency out there to be a cryptocurrency and by how they perform, they are literally not match to Bitcoin. Bitcoin does wonders, while some so called cryptocurrencies make the digital currency system sucks. Many projects are rug pull, scams, pump and dump, in general we called them shitcoins. And this have made many lose interest in Bitcoin too, tagging them to be all the same. This is the main reason why Bitcoin should not be categorized under cryptocurrency. Bitcoin is Bitcoin so let that sink in.

I don't understand what you mean by newbies need to know the difference between bitcoin and cryptocurrency, you're making it seem like bitcoin is not a cryptocurrency whereas it is, regardless of what you think or how any newbie wants to feel it won't change the fact that bitcoin falls under the category of a cryptocurrency infact all digital currencies are cryptocurrencies.
 You've already contradict yourself by saying we can refer to all digital currencies as cryptocurrency then you're saying bitcoin is not a cryptocurrency, how is it not when bitcoin is said to be a digital currency? Bitcoin is the first cryptocurrency, no other cryptocurrencies can match bitcoin, it supercedes all, those are very correct but newbies should understand that Bitcoin still fall under the category of a cryptocurrency.

Bitcoin is in a world of its own, and no cryptocurrency can be compared to Bitcoin. It doesn't make sense if you classify Bitcoin as cryptocurrency because there are so many cryptocurrencies that have rendered some investors useless and made some investors commit suicide because of the money they lost in cryptocurrency investments. So for newbies not to see Bitcoin as a coin that's not free from scam, rug pull, and pump and dump and become skeptical of investing in Bitcoin, it would be good if you refer to Bitcoin as Bitcoin anytime you are discussing Bitcoin so that newbies will know there is a big difference between Bitcoin and cryptocurrency, which will help them invest in Bitcoin without being skeptical.

Actually both Bitcoin, shitcoin, altcoins etc are all embedded in Cryptocurrency but because of the potentials Bitcoin has over all other coin, we have to address it different from other cryptocurrency and we ought to specify Bitcoin whenever we are talking about it so that newbie won't go and invest in the wrong place and I believe these are the reasons we should not..., maybe when those other cryptocurrency prove themselves they can also be set aside as Bitcoin but until then Bitcoin shouldn't be address as cryptocurrency because there is more to Bitcoin than those...

Bitcoin is a digital currency, its characteristics are such that it has gradually become a store of value, so when you consider it similar to other shitcoins it can cause confusion among investors, so we should understand the difference between these assets and spread it to others in terms of terminology. In terms of terminology, you can consider Bitcoin as a separate asset and it will have a similar importance in terms of investment. If investors told to others that they have invested in crypto, then others may think that they are talking about shitcoins. In fact, that investor has actually invested in Bitcoin and keeps himself away from other shitcoins. While investing in Bitcoin a layer of security is creating among investors to deal with risks because he accumulate Bitcoin in the DCA method and continues to hold it continuously even during price fluctuations.       

[POPOLUV]

One must be a high income earner to say he’s buying aggressively with his discretionary funds.

That is not true.

Anyone who has discretionary income can choose how to spend such discretionary income.  There are some folks who have $10 per week of discretionary income and there are others who have $1k or more per week of discretionary income.  The level of aggressiveness has to do with what proportion of their discretionary income are they using to buy bitcoin.

I would suggest that if they are using 70% or above of their discretionary income to buy bitcoin, then they are being aggressive, and if they are using less than 10% of their discretionary income to buy bitcoin, then they are likely being whimpy.

People completely have the right to choose whether or not to invest in bitcoin and their level of aggressiveness, and their choices (and actions) have consequences that they will live with either way, whether they choose to invest in bitcoin or not and if they do what level of aggressiveness they choose.

For sure if a person is new to investing and if a person does not have back up funds, then likely he would need to build that from his discretionary income, so maybe as a person is first getting used to investing into bitcoin, he ends up having to choose a lower level of aggressiveness while he is building up his backup funds, and once he is comfortable with his level of back up funds, then he is in a better place to increase his level of aggressiveness.   Guys can have emergency funds and reserve funds... You are right that usually we would consider emergency funds as not being used for buying bitcoin., but that might also be a judgement call in terms of how the various kinds of back up funds are being categorized and used and if there is enough of them, but yeah, generally speaking buying bitcoin does not seem like an emergency, even if the price dips, but people have to figure out these matters, and if they end up prematurely draining their back up funds, they might find themselves in a bad position if they don't have any back up funds and then an emergency happens.. such as a drop in income and/or an increase in expenses, and they are left with no choice but to tap into their bitcoin investment at a time that was not completely of their own choosing, but they had put themselves in such position due to sloppy cashflow management practices.

If people have other obligations with their discretionary funds, then they might not be in a position to be more aggressive unless they cut their other obligations, which they may or may not be willing to do.

I really appreciate and love those points that you have just pointed out, i will always use myself as an example because ever since i have not been introduced to Bitcoin, I have not known the importance of having an emergency fund till i was introduced to Bitcoin and i have reading several posts on how to buy Bitcoin aggressively if actually you discretionary income is available and also build up an emergency attach to it in case of unforeseen circumstances, i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

[Merit.s]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Emergency funds is not to take care of our needs when they arises, rather emergency funds should be kept aside and should only be used to take care of real emergency(unforeseen circunstances) when they arises. Example of real emergencies are lost of job, critical accident, the roof of your house blown off by storm. You have to solve any of this problem when it arises, otherwise, it will lead to more damage.

Your income should be what is used to take care of your basic needs and that's why you must first sort your basic needs and monthly expenses first after you have recieved your income, so that, you can know how much is left as your discretionary income.

[icebar]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Emergency funds is not to take care of our needs when they arises, rather emergency funds should be kept aside and should only be used to take care of real emergency(unforeseen circunstances) when they arises. Example of real emergencies are lost of job, critical accident, the roof of your house blown off by storm. You have to solve any of this problem when it arises, otherwise, it will lead to more damage.

Your income should be what is used to take care of your basic needs and that's why you must first sort your basic needs and monthly expenses first after you have recieved your income, so that, you can know how much is left as your discretionary income.

Yes, emergency funds should generally be used for emergency purposes. If someone tries to use it for his daily work without doing so, then he has not gained proper knowledge about the use of emergency funds. People love to spend their income after it is earned. But if he spends money at the time when he is supposed to save for his future, then he will go through a very bad situation in the long run. An earner must save a part of his discretionary income and another part for regular savings and so that he can be protected from any unexpected danger. By doing this, he will be able to complete his investment-related tasks smoothly.

[Finebone]

Yes, emergency funds should generally be used for emergency purposes. If someone tries to use it for his daily work without doing so, then he has not gained proper knowledge about the use of emergency funds. People love to spend their income after it is earned. But if he spends money at the time when he is supposed to save for his future, then he will go through a very bad situation in the long run. An earner must save a part of his discretionary income and another part for regular savings and so that he can be protected from any unexpected danger. By doing this, he will be able to complete his investment-related tasks smoothly.

As we all know about this saying, he who fails to plan, is planning to fail, and that is how Bitcoin investment is. We live in a world full of troubles and uncertainty, so it's wise to prepare for every uncertainty, that's why emergency and reserve funds are very important for the survival of your Bitcoin investment, an emergency funds should only be tempered with in case of real life emergencies that threatens your holdings, anything else should be addressed with your reserves funds, so proper money management skills is greatly needed for you to be successful in your Bitcoin investment.

[ejikeme24]

Actually both Bitcoin, shitcoin, altcoins etc are all embedded in Cryptocurrency but because of the potentials Bitcoin has over all other coin, we have to address it different from other cryptocurrency and we ought to specify Bitcoin whenever we are talking about it so that newbie won't go and invest in the wrong place and I believe these are the reasons we should not..., maybe when those other cryptocurrency prove themselves they can also be set aside as Bitcoin but until then Bitcoin shouldn't be address as cryptocurrency because there is more to Bitcoin than those...

Indeed  bitcoin is now a father of all coin in the market but that does not change the fact that bitcoin is a cryptocurrency, we still have every right to describe it as cryptocurrency so anyone that is using the term Crypto currency" is not wrong but when we are making use of this term Crypto currency" it means that we are referring to all the coin that is present in the Crypto market. So anyone that is giving reference need to be specific to enable those who are not familiar with this term to know where they are heading.

[JayJuanGee]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Emergency funds is not to take care of our needs when they arises, rather emergency funds should be kept aside and should only be used to take care of real emergency(unforeseen circunstances) when they arises. Example of real emergencies are lost of job, critical accident, the roof of your house blown off by storm. You have to solve any of this problem when it arises, otherwise, it will lead to more damage.

Your income should be what is used to take care of your basic needs and that's why you must first sort your basic needs and monthly expenses first after you have recieved your income, so that, you can know how much is left as your discretionary income.

Yes, emergency funds should generally be used for emergency purposes. If someone tries to use it for his daily work without doing so, then he has not gained proper knowledge about the use of emergency funds. People love to spend their income after it is earned. But if he spends money at the time when he is supposed to save for his future, then he will go through a very bad situation in the long run. An earner must save a part of his discretionary income and another part for regular savings and so that he can be protected from any unexpected danger. By doing this, he will be able to complete his investment-related tasks smoothly.

One of the more straight-forward ways to think about Emergency funds is that whenever there is a shortage in income as compared with expenses, then emergency funds can be used to make up for that shortage.   However, if a person has other funds, such as reserve funds (other form of back up funds), then he might choose to use the other backup funds prior to tapping into emergency funds, since any time the emergency funds are drawn upon, there should be a priority to replenish such emergency funds as soon as possible (practicable). 

If the money shortfall is drawn from some other source, other than emergency funds, then whether to replenish such used funds and/or the urgency regarding such replenishment of such used funds would be optional.

[Umulala-alala]

Actually both Bitcoin, shitcoin, altcoins etc are all embedded in Cryptocurrency but because of the potentials Bitcoin has over all other coin, we have to address it different from other cryptocurrency and we ought to specify Bitcoin whenever we are talking about it so that newbie won't go and invest in the wrong place and I believe these are the reasons we should not..., maybe when those other cryptocurrency prove themselves they can also be set aside as Bitcoin but until then Bitcoin shouldn't be address as cryptocurrency because there is more to Bitcoin than those...

Indeed  bitcoin is now a father of all coin in the market but that does not change the fact that bitcoin is a cryptocurrency, we still have every right to describe it as cryptocurrency so anyone that is using the term Crypto currency" is not wrong but when we are making use of this term Crypto currency" it means that we are referring to all the coin that is present in the Crypto market. So anyone that is giving reference need to be specific to enable those who are not familiar with this term to know where they are heading.

How often will it be told or said that bitcoin shouldn't be described as a cryptocurrency before people like you will learn i can see that you are the type who will failed exam or test in school and still failed correction.
I believe this thread is talking about bitcoin accumulation and not about cryptocurrency the reason we should use bitcoin is that many has fall victim of investing into so Ponzi Investment because they were misinform and mislead by people like who still failed to realize that bitcoin is bitcoin and not cryptocurrency if you want to make some references or describing a particular coin to person since you know there are different and untrusted coin in the vague word cryptocurrency you can hit the nail at the head by going straight to the point or by been specific enough to call bitcoin as bitcoin and shitcoin as shitcoin and never cryptocurrency and i hope you don't argue further about this.

[Cipherpz]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Emergency funds is not to take care of our needs when they arises, rather emergency funds should be kept aside and should only be used to take care of real emergency(unforeseen circunstances) when they arises. Example of real emergencies are lost of job, critical accident, the roof of your house blown off by storm. You have to solve any of this problem when it arises, otherwise, it will lead to more damage.

Your income should be what is used to take care of your basic needs and that's why you must first sort your basic needs and monthly expenses first after you have recieved your income, so that, you can know how much is left as your discretionary income.

Yes, emergency funds should generally be used for emergency purposes. If someone tries to use it for his daily work without doing so, then he has not gained proper knowledge about the use of emergency funds. People love to spend their income after it is earned. But if he spends money at the time when he is supposed to save for his future, then he will go through a very bad situation in the long run. An earner must save a part of his discretionary income and another part for regular savings and so that he can be protected from any unexpected danger. By doing this, he will be able to complete his investment-related tasks smoothly.

One of the more straight-forward ways to think about Emergency funds is that whenever there is a shortage in income as compared with expenses, then emergency funds can be used to make up for that shortage.   However, if a person has other funds, such as reserve funds (other form of back up funds), then he might choose to use the other backup funds prior to tapping into emergency funds, since any time the emergency funds are drawn upon, there should be a priority to replenish such emergency funds as soon as possible (practicable). 

If the money shortfall is drawn from some other source, other than emergency funds, then whether to replenish such used funds and/or the urgency regarding such replenishment of such used funds would be optional.

The emergency fund should be used primarily to cover the expenditure shortfall, but it is better to keep it as a last resort. If you have some savings account, investments, then it is better to use them first. Otherwise, the risk increases in a critical situation. This fund will be the main support in case of a major crisis and the risk of taking unnecessary loans will be reduced.

[abaeze]

It would be better if you refer to bitcoin as bitcoin because if you refer to bitcoin as cryptocurrency, you might mislead newbies to believe bitcoin is the same as altcoins or shitcoins and they might invest their money into altcoins or shitcoins, thinking they are investing in bitcoin. So for newbies to avoid such a mistake in their early stage, always refer to bitcoin as bitcoin so that they will know bitcoin is different from cryptocurrency. Don't be deceived; Bitcoin is absolutely different from cryptocurrency, and there's nothing like Bitcoin. And even though Bitcoin isn't the first decentralised digital asset or currency, it would still outperform cryptocurrencies because Bitcoin allows you to send money to anyone in the world without trusting a middleman.

You are totally right. Newbies need to know between Bitcoin and cryptocurrency. We can call any digital currency out there to be a cryptocurrency and by how they perform, they are literally not match to Bitcoin. Bitcoin does wonders, while some so called cryptocurrencies make the digital currency system sucks. Many projects are rug pull, scams, pump and dump, in general we called them shitcoins. And this have made many lose interest in Bitcoin too, tagging them to be all the same. This is the main reason why Bitcoin should not be categorized under cryptocurrency. Bitcoin is Bitcoin so let that sink in.

I don't understand what you mean by newbies need to know the difference between bitcoin and cryptocurrency, you're making it seem like bitcoin is not a cryptocurrency whereas it is, regardless of what you think or how any newbie wants to feel it won't change the fact that bitcoin falls under the category of a cryptocurrency infact all digital currencies are cryptocurrencies.
 You've already contradict yourself by saying we can refer to all digital currencies as cryptocurrency then you're saying bitcoin is not a cryptocurrency, how is it not when bitcoin is said to be a digital currency? Bitcoin is the first cryptocurrency, no other cryptocurrencies can match bitcoin, it supercedes all, those are very correct but newbies should understand that Bitcoin still fall under the category of a cryptocurrency.

Bitcoin is in a world of its own, and no cryptocurrency can be compared to Bitcoin. It doesn't make sense if you classify Bitcoin as cryptocurrency because there are so many cryptocurrencies that have rendered some investors useless and made some investors commit suicide because of the money they lost in cryptocurrency investments. So for newbies not to see Bitcoin as a coin that's not free from scam, rug pull, and pump and dump and become skeptical of investing in Bitcoin, it would be good if you refer to Bitcoin as Bitcoin anytime you are discussing Bitcoin so that newbies will know there is a big difference between Bitcoin and cryptocurrency, which will help them invest in Bitcoin without being skeptical.

Actually both Bitcoin, shitcoin, altcoins etc are all embedded in Cryptocurrency but because of the potentials Bitcoin has over all other coin, we have to address it different from other cryptocurrency and we ought to specify Bitcoin whenever we are talking about it so that newbie won't go and invest in the wrong place and I believe these are the reasons we should not..., maybe when those other cryptocurrency prove themselves they can also be set aside as Bitcoin but until then Bitcoin shouldn't be address as cryptocurrency because there is more to Bitcoin than those...

I never agree with those who think that Bitcoin and crypto are same or investing in Bitcoin means investing in crypto. Because the current market value of Bitcoin is about 2.3 trillion dollars and comparing it with what is called digital gold and thousands of other sheetcoins and scam meme coins or crypto is completely illogical and misleading. Bitcoin is not just a coin, it is a movement, it is a symbol of economic freedom. Bitcoin is a tool to fight inflation and bank corruption. People have now accepted and are reserving Bitcoin as a solution to corruption, poverty, inflation, etc. So Bitcoin = Crypto is an extremely misleading statement and even more misleading for those who are new to investing.

[HajiBagi]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

When it comes to investment you have to be well prepared before taking the risk, what I mean is that you can’t be having Bitcoin planning to hold for a long time and you are encountering an emergency, some people don’t understand what they mean by patient in Bitcoin, I have seen a someone who buys Bitcoin are he is facing a problem and says that Bitcoin requires patience and if sell he might regret at the end, we are human and we don’t know when we are going to face a problem and that is the reason why we should always have an emergency fund, emergency funds is money we used to solve an emergency that we don’t expect not funds we use to invest in any business or product.

[cxtreenal]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

When it comes to investment you have to be well prepared before taking the risk, what I mean is that you can’t be having Bitcoin planning to hold for a long time and you are encountering an emergency, some people don’t understand what they mean by patient in Bitcoin, I have seen a someone who buys Bitcoin are he is facing a problem and says that Bitcoin requires patience and if sell he might regret at the end, we are human and we don’t know when we are going to face a problem and that is the reason why we should always have an emergency fund, emergency funds is money we used to solve an emergency that we don’t expect not funds we use to invest in any business or product.

You are right that we should be adequately prepared to face the risks of investing. That is why in addition to accumulation Bitcoin through discreet income, we should also have an emergency fund. Some new investors may not have much idea about this fund or are not aware of its importance they should definitely be aware of it because emergencies arise suddenly. You may see examples of some investors who invest aggressively but neglect their emergency fund because they think that they will be able to handle unexpected situations. The underlying argument for such an idea is that you should continue to save as much as possible during the period of ability and in case of emergency, they will be able to solve it without withdrawing their Bitcoin holdings. I was discussing this with a new investor and he argued with me but my argument was that you should have an emergency fund available to cover at least three months of household expenses.

[Moreno233]

When it comes to investment you have to be well prepared before taking the risk, what I mean is that you can’t be having Bitcoin planning to hold for a long time and you are encountering an emergency, some people don’t understand what they mean by patient in Bitcoin, I have seen a someone who buys Bitcoin are he is facing a problem and says that Bitcoin requires patience and if sell he might regret at the end, we are human and we don’t know when we are going to face a problem and that is the reason why we should always have an emergency fund, emergency funds is money we used to solve an emergency that we don’t expect not funds we use to invest in any business or product.

We don't have to trivialise the concept of patience in Bitcoin, simply know why you are buying Bitcoin, plan towards it and the patience will come naturally and may not even become a a task like some of you are making it look. All the back and forth about patience with Bitcoin will not be a headache for anyone who wants to stash Bitcoin for 20 years and have dedicated a certain percentage of his discretionary income to  such dreams and have set up emergency funds to ensure he never have any reason to resort to his Bitcoin for any reason. It is really not that complicated, just set target in years or a time in your life when you would want to appraise how much Bitcoin you have and work strictly with your discretion income while emergency funds is always in place and you are good to go with Bitcoin holding.

[icebar]

When it comes to investment you have to be well prepared before taking the risk, what I mean is that you can’t be having Bitcoin planning to hold for a long time and you are encountering an emergency, some people don’t understand what they mean by patient in Bitcoin, I have seen a someone who buys Bitcoin are he is facing a problem and says that Bitcoin requires patience and if sell he might regret at the end, we are human and we don’t know when we are going to face a problem and that is the reason why we should always have an emergency fund, emergency funds is money we used to solve an emergency that we don’t expect not funds we use to invest in any business or product.

We don't have to trivialise the concept of patience in Bitcoin, simply know why you are buying Bitcoin, plan towards it and the patience will come naturally and may not even become a a task like some of you are making it look. All the back and forth about patience with Bitcoin will not be a headache for anyone who wants to stash Bitcoin for 20 years and have dedicated a certain percentage of his discretionary income to  such dreams and have set up emergency funds to ensure he never have any reason to resort to his Bitcoin for any reason. It is really not that complicated, just set target in years or a time in your life when you would want to appraise how much Bitcoin you have and work strictly with your discretion income while emergency funds is always in place and you are good to go with Bitcoin holding.

You are right. Investing in Bitcoin requires patience, but there is no problem if you look at it simply and not in a very complicated way. I believe that to get something good, one must be patient. Without patience, success is not possible anywhere. If the goal can be determined, especially in the case of investing in Bitcoin, then it is definitely possible to reach a certain goal. In the case of investing in Bitcoin, if an investor continues to invest regularly with his discretionary income and can create an emergency fund for urgent needs, then after a certain time he will be able to create a large portfolio of Bitcoin. It is not difficult for those who are able to do this. At some point in the investment, when a good portfolio is being created, the ability to be patient will come automatically.

[Proty]

When it comes to investment you have to be well prepared before taking the risk, what I mean is that you can’t be having Bitcoin planning to hold for a long time and you are encountering an emergency, some people don’t understand what they mean by patient in Bitcoin, I have seen a someone who buys Bitcoin are he is facing a problem and says that Bitcoin requires patience and if sell he might regret at the end, we are human and we don’t know when we are going to face a problem and that is the reason why we should always have an emergency fund, emergency funds is money we used to solve an emergency that we don’t expect not funds we use to invest in any business or product.

We don't have to trivialise the concept of patience in Bitcoin, simply know why you are buying Bitcoin, plan towards it and the patience will come naturally and may not even become a a task like some of you are making it look. All the back and forth about patience with Bitcoin will not be a headache for anyone who wants to stash Bitcoin for 20 years and have dedicated a certain percentage of his discretionary income to  such dreams and have set up emergency funds to ensure he never have any reason to resort to his Bitcoin for any reason. It is really not that complicated, just set target in years or a time in your life when you would want to appraise how much Bitcoin you have and work strictly with your discretion income while emergency funds is always in place and you are good to go with Bitcoin holding.

You are right. Investing in Bitcoin requires patience, but there is no problem if you look at it simply and not in a very complicated way. I believe that to get something good, one must be patient. Without patience, success is not possible anywhere. If the goal can be determined, especially in the case of investing in Bitcoin, then it is definitely possible to reach a certain goal. In the case of investing in Bitcoin, if an investor continues to invest regularly with his discretionary income and can create an emergency fund for urgent needs, then after a certain time he will be able to create a large portfolio of Bitcoin. It is not difficult for those who are able to do this. At some point in the investment, when a good portfolio is being created, the ability to be patient will come automatically.

Patience is really a great virtue that all long term investors need in order to be able to achieve their long term goals. The main reason why some person prioritise short term investment is because they lack the patient to be able to hold their bitcoin for a longer term. Another key factor that is also essential for long term goals is high risk tolerance, investors with high risk tolerance will definitely not be push into making impulsive decisions as a result of fears . Bitcoin investment is not risk free and as such anyone who going into bitcoin investment should be able to hold until they have reached there desire timeline.

[Tonimez]

When it comes to investment you have to be well prepared before taking the risk, what I mean is that you can’t be having Bitcoin planning to hold for a long time and you are encountering an emergency, some people don’t understand what they mean by patient in Bitcoin, I have seen a someone who buys Bitcoin are he is facing a problem and says that Bitcoin requires patience and if sell he might regret at the end, we are human and we don’t know when we are going to face a problem and that is the reason why we should always have an emergency fund, emergency funds is money we used to solve an emergency that we don’t expect not funds we use to invest in any business or product.

We don't have to trivialise the concept of patience in Bitcoin, simply know why you are buying Bitcoin, plan towards it and the patience will come naturally and may not even become a a task like some of you are making it look. All the back and forth about patience with Bitcoin will not be a headache for anyone who wants to stash Bitcoin for 20 years and have dedicated a certain percentage of his discretionary income to  such dreams and have set up emergency funds to ensure he never have any reason to resort to his Bitcoin for any reason. It is really not that complicated, just set target in years or a time in your life when you would want to appraise how much Bitcoin you have and work strictly with your discretion income while emergency funds is always in place and you are good to go with Bitcoin holding.

You are right. Investing in Bitcoin requires patience, but there is no problem if you look at it simply and not in a very complicated way. I believe that to get something good, one must be patient. Without patience, success is not possible anywhere. If the goal can be determined, especially in the case of investing in Bitcoin, then it is definitely possible to reach a certain goal. In the case of investing in Bitcoin, if an investor continues to invest regularly with his discretionary income and can create an emergency fund for urgent needs, then after a certain time he will be able to create a large portfolio of Bitcoin. It is not difficult for those who are able to do this. At some point in the investment, when a good portfolio is being created, the ability to be patient will come automatically.

Patience is really a great virtue that all long term investors need in order to be able to achieve their long term goals. The main reason why some person prioritise short term investment is because they lack the patient to be able to hold their bitcoin for a longer term. Another key factor that is also essential for long term goals is high risk tolerance, investors with high risk tolerance will definitely not be push into making impulsive decisions as a result of fears . Bitcoin investment is not risk free and as such anyone who going into bitcoin investment should be able to hold until they have reached there desire timeline.

You're very correct. Patience is a virtue in all walks of life especially in bitcoin investment. Bitcoin is a volatile asset that takes time to cumulatively rise with time there by making it possible for higher chances of interest over time. Fear is one key factor that cause many premature sales recorded daily among investors. Short term holders are usually bitcoin gamblers who play by chances without considering the higher chances of loosing their money. Everyone into bitcoin investment is supposed to have a different major source of income that would sustain him and his responsibilities in order to be able to hold his bitcoin stash for a very long time possibly until retirement.

Fear of Missing out on opportunities also play a major role among short term holders which makes it very difficult to convince a bitcoin trader to hold for long. The urge to buy only at dips and sells at every slight favourable market condition.

[Nightwatchmare]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.