Balancing Financial security and Bitcoin Accumulation

[GIF-JOBS]

Exactly man, that is the whole truth. Borrowing to invest in Bitcoin is like putting yourself under double stress, one from the loan and one from the market. Even if Bitcoin has long term potential, no one can guarantee short term profits, and loans usually don’t wait for your investment to grow.
That is why it is always better to use money you can afford to lock away for years. If someone really wants to succeed with Bitcoin, the key is patience and consistency, not rushing in with borrowed funds and hoping for a miracle..

If a person takes a loan to invest in Bitcoin, it will not be bad, but it is important to consider whether he has the ability to repay the loan. There are good and bad sides to investing with a loan. If a person takes a loan to buy aggressively, he can accumulate a large amount of Bitcoin in his portfolio with a small amount of money. If a person is not in a position to repay the loan, then he can find himself in a very bad situation, such as having to sell all his holdings at a loss, etc. So, before taking a loan, a person should think about whether he can repay the loan or not. If he can repay the loan, then he can invest with a loan, if he does not have the ability to repay the loan, then taking a loan is never right.

If you take a loan just to buy a big chunk of Bitcoin, you’re adding pressure on yourself. Once the price dips, you’re stuck with debt and can’t take advantage of the lower levels. That’s where DCA works better, because it spreads the risk and lets you keep buying no matter what the market does.
Even if it feels slow, the consistency pays off, while loans only tie you down with repayments and stress. In the long run, steady stacking always beats chasing shortcuts.

Investing with debt is not absolutely prohibited, if there is a different ability to repay the debt, then investing with debt can be done, but we should ignore it unless it is necessary. Because it can create different panic in each person, which can be the reason for his investment to fail, keep investing through DCA within the ability, then it will not give you much financial pressure, because you are investing money that you can afford to lose. Therefore, it is necessary to understand these necessary things well and invest, Bitcoin is a very volatile asset, so if you have a panic attitude here, the investment will fail very easily, so do not invest in something that is beyond your ability.

[Qhunman]

If you take a loan just to buy a big chunk of Bitcoin, you’re adding pressure on yourself. Once the price dips, you’re stuck with debt and can’t take advantage of the lower levels. That’s where DCA works better, because it spreads the risk and lets you keep buying no matter what the market does.
Even if it feels slow, the consistency pays off, while loans only tie you down with repayments and stress. In the long run, steady stacking always beats chasing shortcuts.

you can take the risk by taking a long term loan with flexible repayment plans and lower interests rates to fast track your bitcoin accumulation.  It won't be a heck of a stress or pressure if you have another source of income elsewhere that can be used to service the loan while you maintain your consistency in your Bitcoin accumulation journey. The frustration can come in if your re only tie to your Bitcoin investment as your only means of repaying the loan from the profits it will  generate. In this type of situation where the only repayment plan the person had in mind to service the intended loan is from his bitcoin investment, would only amount to bigger problems and frustration if he is unable to meet up as agreed, and that could lead to pressure that may force him to sell all of his bitcoin stash against his own choosing.    

[Silikiem]

If you take a loan just to buy a big chunk of Bitcoin, you’re adding pressure on yourself. Once the price dips, you’re stuck with debt and can’t take advantage of the lower levels. That’s where DCA works better, because it spreads the risk and lets you keep buying no matter what the market does.
Even if it feels slow, the consistency pays off, while loans only tie you down with repayments and stress. In the long run, steady stacking always beats chasing shortcuts.

you can take the risk of taking a long term loan with flexible repayment plans to fast track your bitcoin accumulation.  It won't be a heck of a stress or pressure if you have another source of income elsewhere that can be used to service the loan while you maintain your consistency in your Bitcoin accumulation journey. The frustration can come in if your re only tie to your Bitcoin investment as your only means of repaying the loan from the profits it will  generate. In this type of situation where the only repayment plan the person had in mind to service the intended loan is from his bitcoin investment, would only amount to bigger problems and frustration if he is unable to meet up as agreed, and that could lead to pressure that may force him to sell all of his bitcoin stash against his own choosing.   

Fair enough, and I quite agree with you. Getting a loan to fund or invest in bitcoin is not bad only if you’re not depending on your bitcoin investment to pay back the loans, and it’s as simple as that. Perherps you have elsewhere where you can possibly get the money to pay back the loan when due, then I think it’s not a bad idea to take a loan for your bitcoin investment.

[Nightwatchmare]

Exactly man, that is the whole truth. Borrowing to invest in Bitcoin is like putting yourself under double stress, one from the loan and one from the market. Even if Bitcoin has long term potential, no one can guarantee short term profits, and loans usually don’t wait for your investment to grow.
That is why it is always better to use money you can afford to lock away for years. If someone really wants to succeed with Bitcoin, the key is patience and consistency, not rushing in with borrowed funds and hoping for a miracle..

If a person takes a loan to invest in Bitcoin, it will not be bad, but it is important to consider whether he has the ability to repay the loan. There are good and bad sides to investing with a loan. If a person takes a loan to buy aggressively, he can accumulate a large amount of Bitcoin in his portfolio with a small amount of money. If a person is not in a position to repay the loan, then he can find himself in a very bad situation, such as having to sell all his holdings at a loss, etc. So, before taking a loan, a person should think about whether he can repay the loan or not. If he can repay the loan, then he can invest with a loan, if he does not have the ability to repay the loan, then taking a loan is never right.

If you take a loan just to buy a big chunk of Bitcoin, you’re adding pressure on yourself. Once the price dips, you’re stuck with debt and can’t take advantage of the lower levels. That’s where DCA works better, because it spreads the risk and lets you keep buying no matter what the market does.
Even if it feels slow, the consistency pays off, while loans only tie you down with repayments and stress. In the long run, steady stacking always beats chasing shortcuts.

If investors have another means to pay back their loan, it is not wrong if they decide to take a loan and invest in Bitcoin; it is only wrong if investors want to take a loan and invest in Bitcoin if they don't have a means to pay back their loan, and they want to depend on their Bitcoin investment to pay back their loan. Bitcoin is a long term investment, and it is not suitable for investors to take a loan with the mindset of paying back their loan with their Bitcoin investment because they are just putting themselves in unnecessary pressure and gambling with their Bitcoin investment, and it can take them out of the game. If investors must take a loan to invest in Bitcoin, they should have a strong means they will use to pay back their loan to avoid selling their Bitcoin too early to settle their loan.

[EG_O]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

[Alonso_]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

I think you have done well with your statement, because investing in bitcoin could be very profitable if we try to follow the right procedures and strategy, I don’t see any reason why someone would want to take out a loan just to invest in bitcoin when they know fully well that they don’t have other means of payments, are we going to build our emergency and reserved funds from taking loans, are we going to sustain our investments from taking loans, I wouldn’t support taking loans to invest in bitcoins, because it wouldn’t be sustainable.

However it’s been said that investing in bitcoin, we require a discretionary income, well my question would be that this loans that we are taking is that our discretionary income, and how long are we going to continue taking loan to invest in bitcoin and end up in dept, honestly speaking this we be a very strange scenario to be, because I totally think that buying bitcoin would not be a very good choice with taking mortgage or loans.

[Gost ms]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

It will never be a good decision for a new investor to invest with debt. Because if a new person invests with debt, he may become very scared and after a while he may sell his holdings in panic. A new person should initially adopt the DCA method and continue to buy continuously. Because when the market falls, a new person will be scared, it is very natural, but if a new person invests with debt at that time, he will become even more scared.

Investing with debt is not bad but one should understand whether he can repay the debt or not. Because if a person has the ability to repay the debt, he can invest with debt and gradually repay the debt. If he does not have the money to repay the debt and invests with debt, he may fall into bad times.

[Hardyrobust]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

It will never be a good decision for a new investor to invest with debt. Because if a new person invests with debt, he may become very scared and after a while he may sell his holdings in panic. A new person should initially adopt the DCA method and continue to buy continuously. Because when the market falls, a new person will be scared, it is very natural, but if a new person invests with debt at that time, he will become even more scared.

Investing with debt is not bad but one should understand whether he can repay the debt or not. Because if a person has the ability to repay the debt, he can invest with debt and gradually repay the debt. If he does not have the money to repay the debt and invests with debt, he may fall into bad times.

it is important for a newbie or a no coiner to determine whether they have discretionary income available before they start investing in bitcoin. Borrowing money to start investing in bitcoin is not a good idea and I won't advise anyone that wants to start buying bitcoin to start thinking about going to borrow money that they will invest with. If the discretionary income is not available to invest with such a person is not yet ready to invest in bitcoin. There main focus should be on working on there cash flow instead looking where to borrow money to invest in bitcoin.

[Scarlett_23]

If you take a loan just to buy a big chunk of Bitcoin, you’re adding pressure on yourself. Once the price dips, you’re stuck with debt and can’t take advantage of the lower levels. That’s where DCA works better, because it spreads the risk and lets you keep buying no matter what the market does.
Even if it feels slow, the consistency pays off, while loans only tie you down with repayments and stress. In the long run, steady stacking always beats chasing shortcuts.

you can take the risk of taking a long term loan with flexible repayment plans to fast track your bitcoin accumulation.  It won't be a heck of a stress or pressure if you have another source of income elsewhere that can be used to service the loan while you maintain your consistency in your Bitcoin accumulation journey. The frustration can come in if your re only tie to your Bitcoin investment as your only means of repaying the loan from the profits it will  generate. In this type of situation where the only repayment plan the person had in mind to service the intended loan is from his bitcoin investment, would only amount to bigger problems and frustration if he is unable to meet up as agreed, and that could lead to pressure that may force him to sell all of his bitcoin stash against his own choosing.   

Fair enough, and I quite agree with you. Getting a loan to fund or invest in bitcoin is not bad only if you’re not depending on your bitcoin investment to pay back the loans, and it’s as simple as that. Perherps you have elsewhere where you can possibly get the money to pay back the loan when due, then I think it’s not a bad idea to take a loan for your bitcoin investment.

It is not right to buy Bitcoin with a loan or invest in any other cryptocurrency with a loan. Because we know that cryptocurrencies are volatile in nature. Among them, Bitcoin is more volatile. Today its price is increasing, tomorrow its price is decreasing. Here you may or may not make a profit. Therefore, a loan will make your financial situation more precarious and will break you mentally. Therefore, more importance should be given to the money saved to implement the investment objective.

However, if you are in great danger and if you have any other source from which you can repay the loan. Then you can take a loan in a small amount, for a short period of time. In that case, it must be remembered that the amount of the loan should not be such that it will hurt you mentally.

[GIF-JOBS]

Exactly man, that is the whole truth. Borrowing to invest in Bitcoin is like putting yourself under double stress, one from the loan and one from the market. Even if Bitcoin has long term potential, no one can guarantee short term profits, and loans usually don’t wait for your investment to grow.
That is why it is always better to use money you can afford to lock away for years. If someone really wants to succeed with Bitcoin, the key is patience and consistency, not rushing in with borrowed funds and hoping for a miracle..

If a person takes a loan to invest in Bitcoin, it will not be bad, but it is important to consider whether he has the ability to repay the loan. There are good and bad sides to investing with a loan. If a person takes a loan to buy aggressively, he can accumulate a large amount of Bitcoin in his portfolio with a small amount of money. If a person is not in a position to repay the loan, then he can find himself in a very bad situation, such as having to sell all his holdings at a loss, etc. So, before taking a loan, a person should think about whether he can repay the loan or not. If he can repay the loan, then he can invest with a loan, if he does not have the ability to repay the loan, then taking a loan is never right.

If you take a loan just to buy a big chunk of Bitcoin, you’re adding pressure on yourself. Once the price dips, you’re stuck with debt and can’t take advantage of the lower levels. That’s where DCA works better, because it spreads the risk and lets you keep buying no matter what the market does.
Even if it feels slow, the consistency pays off, while loans only tie you down with repayments and stress. In the long run, steady stacking always beats chasing shortcuts.

If investors have another means to pay back their loan, it is not wrong if they decide to take a loan and invest in Bitcoin; it is only wrong if investors want to take a loan and invest in Bitcoin if they don't have a means to pay back their loan, and they want to depend on their Bitcoin investment to pay back their loan. Bitcoin is a long term investment, and it is not suitable for investors to take a loan with the mindset of paying back their loan with their Bitcoin investment because they are just putting themselves in unnecessary pressure and gambling with their Bitcoin investment, and it can take them out of the game. If investors must take a loan to invest in Bitcoin, they should have a strong means they will use to pay back their loan to avoid selling their Bitcoin too early to settle their loan.

I agree with you, since Bitcoin is not a place to make quick profits, so you must invest with money that you can hold for the long term. If someone wants to invest in Bitcoin by taking a loan, then he must have a separate alternative and safe mechanism to repay that loan, because Bitcoin investment does not guarantee him profit, so in the case of investing in loans, of course, this investment should not be relied upon while repaying the loan, so keep this in mind, then you take a loan and invest, but it is best to consistently invest Bitcoin from discretionary income, so that you do not face any financial problems for invest.

[Yorubek]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

It will never be a good decision for a new investor to invest with debt. Because if a new person invests with debt, he may become very scared and after a while he may sell his holdings in panic. A new person should initially adopt the DCA method and continue to buy continuously. Because when the market falls, a new person will be scared, it is very natural, but if a new person invests with debt at that time, he will become even more scared.

Investing with debt is not bad but one should understand whether he can repay the debt or not. Because if a person has the ability to repay the debt, he can invest with debt and gradually repay the debt. If he does not have the money to repay the debt and invests with debt, he may fall into bad times.

it is important for a newbie or a no coiner to determine whether they have discretionary income available before they start investing in bitcoin. Borrowing money to start investing in bitcoin is not a good idea and I won't advise anyone that wants to start buying bitcoin to start thinking about going to borrow money that they will invest with. If the discretionary income is not available to invest with such a person is not yet ready to invest in bitcoin. There main focus should be on working on there cash flow instead looking where to borrow money to invest in bitcoin.

Right, expecting quick profits by investing in Bitcoin is absolutely foolish, Bitcoin cannot make anyone rich overnight. Profits can be expected in the future by consistently managing long-term investments. To hold Bitcoin in the long term, you must have a prudent income, as well as a special fund for three months, because you can deal with unknown dangers and it is very important to manage long-term investments properly. You must understand that investing in Bitcoin with borrowed money is absolutely foolish, because you don't know exactly when Bitcoin price will increase, so it is impossible to quickly make money through investment and repay the loan. This will put additional financial pressure on yourself, and the risk of losing money can increase manifold.

[Albert David]

.

Yea, buying aggressively is not wrong just that some folks always get it twisted, buying aggressively from your discretionary is not wrong but one thing an investor should not do is to be over aggressive even though it is from their discretionary because when you are over aggressive with your discretionary you will buy more than you are suppose to... and at this point in time it becomes wrong and bad because you are now going beyond your elastic limit hope you know what this means in strength of material.

I think it is not right to buy more than the extra income, Karan, your income is $10, if you invest in Bitcoin with $10, then how will you and your family survive, out of the 100% of the funds you will get in 1 month, you can invest 25% of the funds and keep it for the future, you will get something good from Bitcoin if you invest

[liasbaa]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

It will never be a good decision for a new investor to invest with debt. Because if a new person invests with debt, he may become very scared and after a while he may sell his holdings in panic. A new person should initially adopt the DCA method and continue to buy continuously. Because when the market falls, a new person will be scared, it is very natural, but if a new person invests with debt at that time, he will become even more scared.

Investing with debt is not bad but one should understand whether he can repay the debt or not. Because if a person has the ability to repay the debt, he can invest with debt and gradually repay the debt. If he does not have the money to repay the debt and invests with debt, he may fall into bad times.

it is important for a newbie or a no coiner to determine whether they have discretionary income available before they start investing in bitcoin. Borrowing money to start investing in bitcoin is not a good idea and I won't advise anyone that wants to start buying bitcoin to start thinking about going to borrow money that they will invest with. If the discretionary income is not available to invest with such a person is not yet ready to invest in bitcoin. There main focus should be on working on there cash flow instead looking where to borrow money to invest in bitcoin.

You are doing the wrong thing about investing. It is not important to have a discretionary income before investing in Bitcoin. If you are studying in a university, you will learn about Bitcoin and you can accumulate Bitcoin during your studies. Buy Bitcoin by saving some money from your part time job or from the session fees you get from your family. You will gain knowledge about Bitcoin while you are a student and along with that, you can accumulate any fractional amount. It is always intelligent to rely on your own cash fund. If you take out a loan or depend on other people's money to invest, you will not be able to keep it going in the long term.

Many students deposit Bitcoin during their studies. They earn money temporarily while studying at university and they even meet their family expenses from that income. Even if the amount of income is not very much, you can accumulation Bitcoin even on a small scale.

[Merit.s]

You are doing the wrong thing about investing. It is not important to have a discretionary income before investing in Bitcoin . If you are studying in a university, you will learn about Bitcoin and you can accumulate Bitcoin during your studies. Buy Bitcoin by saving some money from your part time job or from the session fees you get from your family. You will gain knowledge about Bitcoin while you are a student and along with that, you can accumulate any fractional amount. It is always intelligent to rely on your own cash fund. If you take out a loan or depend on other people's money to invest, you will not be able to keep it going in the long term.

You need a discretionary income in order for you to invest into bitcoin and hodli for long. I understand what you mean, it's just that you don't understand what discretionary income is. Discretionary income is the extra money from your income that you can do away with and it wouldn't affect you lifestyle. Some people use it to drink, smoke, gamble, club and many more consumption al stuff. Using such funds to invest in bitcoin is the best because you can use it to grow and build your bitcoin portfolio for the future.

If you use money that is not your discretionary income to buy bitcoin, when your needs arises, you will sell your bitcoin because you did not do the right thing. What you explain above means that the extra money from your part-time job can serve as your discretionary provided that you have meet up with all your needs.

[Silikiem]

It is not important to have a discretionary income before investing in Bitcoin.

Your statement here is completely out of place as it will be very misleading, confusing and contradictory especially to the newbies who are desirous to invest in bitcoin. Perherps you don’t know what a discretionary income is, A discretionary income is the amount of cash you’re left with after you might have sorted out your other primary financial obligations. In a lame man sense, it’s referred to as the money remaining with you after paying your bills and meeting up with your other major expenses as a man. Now, knowing what a discretionary income is, you can see that the discretionary income is very important In bitcoin investment. All what you need to begin your bitcoin investment is to be able to figure out your discretionary income to use and accumulate bitcoin and hold for the long term goal. It’s never advisable to use the money meant for your other primary financial obligations and payments of your bills to invest in bitcoin if not you will always tend towards selling off your bitcoin holdings to be able to raise some money to meet up with your expenses and if such happens then you’re not longer investing, you’re trading and there’s a high possibility that you might end up trading at a losss because of the volatility of bitcoin. So for you to be at the safer side and for your investment to stand for the long term goal without selling too early, it’s always advisable that you should invest with your discretionary income.

[gracreavix]

For me, we must first of all think about reasons why people or investors borrow money from the bank or from online App, people borrow money because of investment, health wise or project, coming to Bitcoin community, I am of the opinion that if an investor wants to borrow money so that he or she would invest Bitcoin, the investor should consider means of payment, wether he can pay from other source of income, wether he will sell his investment just to pay his loan, because his loan interest will continue to increase weekly or monthly as the case may be. So it's not right for an investor to borrow just to invest because Bitcoin is a long term investment unless he has other source of payment, then he can go ahead and borrow

It will never be a good decision for a new investor to invest with debt. Because if a new person invests with debt, he may become very scared and after a while he may sell his holdings in panic. A new person should initially adopt the DCA method and continue to buy continuously. Because when the market falls, a new person will be scared, it is very natural, but if a new person invests with debt at that time, he will become even more scared.

Investing with debt is not bad but one should understand whether he can repay the debt or not. Because if a person has the ability to repay the debt, he can invest with debt and gradually repay the debt. If he does not have the money to repay the debt and invests with debt, he may fall into bad times.

it is important for a newbie or a no coiner to determine whether they have discretionary income available before they start investing in bitcoin. Borrowing money to start investing in bitcoin is not a good idea and I won't advise anyone that wants to start buying bitcoin to start thinking about going to borrow money that they will invest with. If the discretionary income is not available to invest with such a person is not yet ready to invest in bitcoin. There main focus should be on working on there cash flow instead looking where to borrow money to invest in bitcoin.

Right, expecting quick profits by investing in Bitcoin is absolutely foolish, Bitcoin cannot make anyone rich overnight. Profits can be expected in the future by consistently managing long-term investments. To hold Bitcoin in the long term, you must have a prudent income, as well as a special fund for three months, because you can deal with unknown dangers and it is very important to manage long-term investments properly. You must understand that investing in Bitcoin with borrowed money is absolutely foolish, because you don't know exactly when Bitcoin price will increase, so it is impossible to quickly make money through investment and repay the loan. This will put additional financial pressure on yourself, and the risk of losing money can increase manifold.

Maybe I should put it this way, expecting Bitcoin to make you rich overnight is just setting yourself up for stress. Since no one can predict the exact timing of its moves, borrowing money to invest is almost like digging a hole for yourself. It is because the smarter thing is to secure your income, keep an emergency fund aside, and then invest what you can comfortably hold long term. That way you avoid unnecessary pressure and actually give yourself a chance to enjoy the real benefits of Bitcoin.

[Bigjoe33]

You are doing the wrong thing about investing. It is not important to have a discretionary income before investing in Bitcoin . If you are studying in a university, you will learn about Bitcoin and you can accumulate Bitcoin during your studies. Buy Bitcoin by saving some money from your part time job or from the session fees you get from your family. You will gain knowledge about Bitcoin while you are a student and along with that, you can accumulate any fractional amount. It is always intelligent to rely on your own cash fund. If you take out a loan or depend on other people's money to invest, you will not be able to keep it going in the long term.

You need a discretionary income in order for you to invest into bitcoin and hodli for long. I understand what you mean, it's just that you don't understand what discretionary income is. Discretionary income is the extra money from your income that you can do away with and it wouldn't affect you lifestyle. Some people use it to drink, smoke, gamble, club and many more consumption al stuff. Using such funds to invest in bitcoin is the best because you can use it to grow and build your bitcoin portfolio for the future.

If you use money that is not your discretionary income to buy bitcoin, when your needs arises, you will sell your bitcoin because you did not do the right thing. What you explain above means that the extra money from your part-time job can serve as your discretionary provided that you have meet up with all your needs.

Weldon @ Merit.s for the timely explanations and for correcting that notion about discretionary. At least newbies that will come across this wouldn't get it wrong or start from the wrong path of investment.

Maybe he doesn't just understand the concept of discretionary income, and /or he knows it but didn't put the right word where it's sopose to be or perhaps, he wanted to use emergency funds but mistaked it for discretionary. Which ever way it is, I think your explanations and that of Silikiem below would have done justice to that misconception or mistake.

We all need our discretionary income to begin our investment journey and its totally undisputed. Imagine a farmer going to farm without a hoe and cutlass, or astudent going to school without books and a pen, totally a water of time. That's how important the discretionary is to our accumulation of Bitcoin. I just hope he comes back to read off all these and learn.

Maybe I should put it this way, expecting Bitcoin to make you rich overnight is just setting yourself up for stress. Since no one can predict the exact timing of its moves, borrowing money to invest is almost like digging a hole for yourself.

Common! Who does that? The I bet you that such a person isn't ready to be an investor or a long time holder of Bitcoin assets, am sure he would pull, selling all out of frustration and this really mean nothing.

If you get something tangible and profitable, though not promised, you must accumulate gradually and Hodl, I repeat, Hodl, at least for a circle, two, three or more. Remember a circle is 4 years.  The long term plan of Bitcoin is the ideal way of investment. You keep accumulating Bitcoin using the DCA strategy or any other method if you have the capacity to. While seeking for other means of gaining better or increased income, just buy and Hodl.

[Finebone]

Maybe I should put it this way, expecting Bitcoin to make you rich overnight is just setting yourself up for stress.

Truly Bitcoin is not a get rich quick scheme, and this is one thing most newbies fails to understand, that's why they mostly approach bitcoin investment with the mindset of buying and selling prematurely thinking it's the best to to go about it, but it's not, you can't grow rich by investing in bitcoin with a short term minds.

Since no one can predict the exact timing of its moves, borrowing money to invest is almost like digging a hole for yourself.

How are you digging a hole for yourself when you are not paying back from your bitcoin investment?
Don't you understand that once your ability to pay back have nothing to do with the final outcome of your bitcoin investment, you have nothing to worry about?
Taking a loan to invest in bitcoin is not a problem as long as you have other source of repaying it back.

[BTC-blaad]

Maybe I should put it this way, expecting Bitcoin to make you rich overnight is just setting yourself up for stress.

Truly Bitcoin is not a get rich quick scheme, and this is one thing most newbies fails to understand, that's why they mostly approach bitcoin investment with the mindset of buying and selling prematurely thinking it's the best to to go about it, but it's not, you can't grow rich by investing in bitcoin with a short term minds.

Since no one can predict the exact timing of its moves, borrowing money to invest is almost like digging a hole for yourself.

How are you digging a hole for yourself when you are not paying back from your bitcoin investment?
Don't you understand that once your ability to pay back have nothing to do with the final outcome of your bitcoin investment, you have nothing to worry about?
Taking a loan to invest in bitcoin is not a problem as long as you have other source of repaying it back.

You don't have to say Bitcoin isn't a get rich quick scheme so you won't discourage some minds from investing into Bitcoin, as a newbie you have to understand the strategies of the market first before investing and investing for long-term benefits without selling is okay and advisable as a newbie who's into the market because long-term investments helps so much and build you well as a newbie understand how the market works.

[Silikiem]

You don't have to say Bitcoin isn't a get rich quick scheme so you won't discourage some minds from investing into Bitcoin,

Yes, the earlier you begin to know that bitcoin investment is not a get rich quick scheme the better for you, and yea the honest truth is bitcoin is not a get rich quick scheme, and that’s why it’s always been emphasized here that bitcoin is a long term investment, not just a short term or get rich quick scheme where you are expecting to earn profit over night. This is not to discourage anyone from investing in bitcoin but rather to show you a clearer picture of what bitcoin is all about and also for you to be fully aware of what you’re going into. So, it’s better you and other newbies know that bitcoin investment is not a get rich quick scheme, make sure to always bear that in mind, bitcoin investment is a long term investment of consistent or Perherps persistent accumulation of bitcoin and hold for the long term goal.