Balancing Financial security and Bitcoin Accumulation

[Joeboy]

I personally don't recommend trading and/or gambling with bitcoin... so there is a need for discretionary income to invest in bitcoin.

The biggest thing is that if a person does not have a certain amount of extra money in his hand, then he should not invest in Bitcoin because investment means money that will not be at risk if lost. Until someone is sure that some money will survive after his regular expenses, he cannot start investing or should not invest in anything new.

I feel having extra cash in hand is not even the real parameter for investing in Bitcoin…. What actually matters is having a steady flow of income..  When you have consistent earnings, you can take a portion of your discretionary income, the money that is not tied to your essential bills,  and put that into Bitcoin regularly..

Just having some random leftover cash sounds more like taking part from everything you have and throwing it into Bitcoin once in a while. But investing properly means building a system where a small, manageable part of what you earn maybe every week or month goes into your Bitcoin stack..

Buying BTC with the extra cash you have is not an investment, this is where most beginners make the mistake.

If it is not called investment then what is it called? Coz honestly, to buy Bitcoin with extra cash is exactly what an investment should look like.....When buying with an extra cash, you are putting in those money that you wouldn't be needing anytime soon. Let me even ask you, What do you think your discretionary income is? Don't you know that it is that extra money left after you settled your basic needs and responsibilities, and as such it is simply the best and the most responsible way to invest.

[Sticky Bomb]

A low coiner is better than a no coiner.

I like this statement of yours a lot Sim_card, a low coiner is still in the market and accumulating, although he has very little discretionary income, but the intent to continuously buy and hold bitcoin is there. As long as he remains in the market and desires to acquire a descent portfolio for himself, his finances might increase in the future and he has a large discretionary income to continue his investment with substantial amounts. This cannot be said for a no coiner who had little discretionary income but refused to buy bitcoin. Even if his income increases, he might not even invest in bitcoin yet since he does not possess an actionable mindset towards bitcoin.

The guy who invested his little discretionary income has lots of advantage for having been in the market for a while since he must have become more experienced and achieved some maturity in handling his cashflow properly and be able to show more dedication in his investment based on previous experience. Buying little is better than not buying at all if you are sure of having discretionary income.

[Tonimez]

[buying bitcoin with extra cash is investment. Infact most person prefer using extra cash to DCA since they won't be needing this money for any essential there won't be any pressure to sell . For those that are into bitcoin for long term it is more good if they used extra cash as this will make them to hold for long term. You maybe using discretionary income to buy bitcoin but that doesn't mean if an Extra cash arises that it will be bad to used it to buy bitcoin.

In additional to what you have said, investing with a Discretional income would help an investor to Hodl onto their Bitcoin investment longer without the pressure to sell since it is money they do not intend using.  Real life Emergency is something we should prepared  for as it can happen anytime as it may pressure an investor to sell their Bitcoin holdings. Therefore, investors should ensure they have an emergency funds in place to protect their Bitcoin holdings incase of unplanned occurrences.

Having emergency funds handy is not negotiable and it remains the only alternative to a successful bitcoin experience. There have been people who believe in hopes(probably false) that there will be no emergency situation. When you make investment with your Discretionary income, you have an internal peace that will make you almost forget you have a fund tied to bitcoin somewhere. An investment is made with an extra fund because one also needs to have a good financial power or good Cashflow management to be able to succeed and avoid panic selling during extreme Volatility or emergency situation.

[JayJuanGee]

A low coiner is better than a no coiner.

I like this statement of yours a lot Sim_card, a low coiner is still in the market and accumulating, although he has very little discretionary income, but the intent to continuously buy and hold bitcoin is there. As long as he remains in the market and desires to acquire a descent portfolio for himself, his finances might increase in the future and he has a large discretionary income to continue his investment with substantial amounts. This cannot be said for a no coiner who had little discretionary income but refused to buy bitcoin. Even if his income increases, he might not even invest in bitcoin yet since he does not possess an actionable mindset towards bitcoin.

The guy who invested his little discretionary income has lots of advantage for having been in the market for a while since he must have become more experienced and achieved some maturity in handling his cashflow properly and be able to show more dedication in his investment based on previous experience. Buying little is better than not buying at all if you are sure of having discretionary income.

I am not sure what you are talking about Sticky Bomb.

A no coiner is someone who does not currently have any coins.  Sure in the future he might have coins, but if he is not even trying to get coins then he might stay a no coiner.  Some folks like to refer to no coiners as precoiners if they believe that the person will get coins in the future.

My own understanding and ideas about low coiners has changed over the years, yet largely we could consider a low coiner as someone who does not have enough coins, which is an overwhelming majority of the world's population.  Even folks who have coins are probably low coiners, yet there can be differences in perspectives of low coiners whether they are trying to get more bitcoin or not.  Some folks realize that they are low coiners, so they are trying to get more bitcoin. Others might not realize that they are low coiners.

There can also be another difficulty in figuring out whether a person has transitioned from being a low coiner to someone who has enough bitcoin or more than enough bitcoin.  People do not always know when they have enough coins, and some folks even believe that it is not possible to get enough coins.

I think that it is possible to get enough bitcoin and/or more than enough bitcoin, yet reaching such status might still be difficult to determine and guys can make mistakes in regards to their own measurements of how many coins they want or need and whether they have enough or not.

It seems that even if people might not be sure about how many coins are enough (or more than enough) for their own circumstances, they can still likely work on accumulating bitcoin while they figure out their own particulars, since of course accumulating bitcoin is a moving target for any low coiner who is working on accumulating more bitcoin, so I am not even proclaiming that it is easy to figure out how many coins is enough or more than enough - since there is a lot of individuality involved in making those kinds of determinations.. .. yet at the same time, many times, I think that guys can start to explore how many coins they want/need based on their current standard of living and then to try to figure out their target standard of living within some comparison to their current standard of living, and yeah, even determining realistic standard of living goals can be challenging for some people... yet they can engage in these kinds of explorations and/or investigations and/or determinations while they are persistently, consistently, ongoingly, regularly and perhaps even aggressively accumulating bitcoin.

[Mr_Brilliant$]

I think that @Qhunman probably wanted to say that waiting to have too much knowledge before investing in bitcoin is bad, but just like you said, there is no limit to knowledge and it isn't also bad if someone wants to know so much before investing in bitcoin, the only reason why we mostly say that it is not good to acquire too much knowledge is because of the time it will take which by the time you might want to start investing, the price of bitcoin must have gone high. That notwithstanding, everyone has the freedom of choice to either wait till they have gotten the level of knowledge they want or just start as soon as they have gotten the basic knowledge. Bitcoin is a big project, and it is not possible to learn everything about it at once, so we learn more in the process of investing.

When investing in Bitcoin, one should always focus on financial preparation and backup funds. And create a minimum financial security because Bitcoin investment is not reasonable without a reasonable income. The long-term goal should be to have at least three months of emergency funds and create a reserve fund in addition. Before starting to invest in Bitcoin, it is essential to practice financial foundation, backup funds and basic knowledge about Bitcoin. Real stable progress is possible if you can build a safety fund along with the investment. Therefore, it is not logical to postpone the investment time to gain additional analysis or understanding about Bitcoin.

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from. When someone has no emergency fund or backup plan, every little dip feels like the end of the world..
Building that foundation really gives you peace of mind, because you are not investing with money you might need next week..  And from there, the whole long term mindset becomes way easier to maintain..

But at the same time, waiting forever just to understand more can also be a trap. Bitcoin is something you actually learn as you go..

[Gost ms]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from. When someone has no emergency fund or backup plan, every little dip feels like the end of the world..
Building that foundation really gives you peace of mind, because you are not investing with money you might need next week..  And from there, the whole long term mindset becomes way easier to maintain..

But at the same time, waiting forever just to understand more can also be a trap. Bitcoin is something you actually learn as you go..

To invest in Bitcoin, a person needs discretionary income. If a person has a source of income, no matter how small, if he wants, then he can find a source of discretionary income from that source of income through proper financial management. Because if someone's income is low, then his expenses are also very low.

An emergency fund reserve fund is very necessary to protect the investment. But we should never wait to invest to create this fund. This fund can be created along with investment. If you create a fund along with investment, it will be good for you.

[Futurexxx]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from.

The truth is that if an investor cannot take good care of himself and his basic needs, he has no business investing in Bitcoin, or if his income is too small to the extent that he can't have a discretionary income left after all expenses has been made, what such person should be doing is looking for another source of income or another job because any investment made in such a state is not an investment but it's gambling that will never ends well in a short while.
 So if you must invest in Bitcoin, you must first of all be able to take care of yourself and your basic needs before you can start thinking of sorting out your discretionary income to invest with, because it's through your discretionary income you set up your emergency and reserve funds in place to safeguard your holdings.

[Abelly]

[buying bitcoin with extra cash is investment. Infact most person prefer using extra cash to DCA since they won't be needing this money for any essential there won't be any pressure to sell . For those that are into bitcoin for long term it is more good if they used extra cash as this will make them to hold for long term. You maybe using discretionary income to buy bitcoin but that doesn't mean if an Extra cash arises that it will be bad to used it to buy bitcoin.

In additional to what you have said, investing with a Discretional income would help an investor to Hodl onto their Bitcoin investment longer without the pressure to sell since it is money they do not intend using.  Real life Emergency is something we should prepared  for as it can happen anytime as it may pressure an investor to sell their Bitcoin holdings. Therefore, investors should ensure they have an emergency funds in place to protect their Bitcoin holdings incase of unplanned occurrences.

Having emergency funds handy is not negotiable and it remains the only alternative to a successful bitcoin experience. There have been people who believe in hopes(probably false) that there will be no emergency situation. When you make investment with your Discretionary income, you have an internal peace that will make you almost forget you have a fund tied to bitcoin somewhere. An investment is made with an extra fund because one also needs to have a good financial power or good Cashflow management to be able to succeed and avoid panic selling during extreme Volatility or emergency situation.

Investing in Bitcoin without an emergency fund is a direct mistake. The panic selling that occurs when the market goes down is due to money pressure. Those who have an emergency fund may stay calm and stick to their strategy, so we should have an emergency fund!

[Sim_card]

To invest in Bitcoin, a person needs discretionary income. If a person has a source of income, no matter how small, if he wants, then he can find a source of discretionary income from that source of income through proper financial management. Because if someone's income is low, then his expenses are also very low.

I disagree with you on this that a low income earner will have low expenses. That depends on his responsibilities. If he is single and lives a simple lifestyle, his monthly expenses will be low. However, if he is a family man or has other responsibilities he must take care of, his low income wouldn't be enough and he will be living from hand to mouth without a discretionary income.

This is why you see people complaining about hardship and lack of discretionary income to invest. When you don't have a discretionary income, you cannot invest in bitcoin until you have looked for other means to get a second means of income that you can use the money from there as your discretionary income. If you use money for your basic needs to invest, you are only gambling because you will sell at loss if bitcoin price is below your entry point when your needs arises.

It's from your discretionary income that you use in investing and also use to create various backup funds. If you don't have a discretionary income, it's clear that you are not in the position to start your bitcoin investment.

[Hardyrobust]

I think that @Qhunman probably wanted to say that waiting to have too much knowledge before investing in bitcoin is bad, but just like you said, there is no limit to knowledge and it isn't also bad if someone wants to know so much before investing in bitcoin, the only reason why we mostly say that it is not good to acquire too much knowledge is because of the time it will take which by the time you might want to start investing, the price of bitcoin must have gone high. That notwithstanding, everyone has the freedom of choice to either wait till they have gotten the level of knowledge they want or just start as soon as they have gotten the basic knowledge. Bitcoin is a big project, and it is not possible to learn everything about it at once, so we learn more in the process of investing.

When investing in Bitcoin, one should always focus on financial preparation and backup funds. And create a minimum financial security because Bitcoin investment is not reasonable without a reasonable income. The long-term goal should be to have at least three months of emergency funds and create a reserve fund in addition. Before starting to invest in Bitcoin, it is essential to practice financial foundation, backup funds and basic knowledge about Bitcoin. Real stable progress is possible if you can build a safety fund along with the investment. Therefore, it is not logical to postpone the investment time to gain additional analysis or understanding about Bitcoin.

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from. When someone has no emergency fund or backup plan, every little dip feels like the end of the world..
Building that foundation really gives you peace of mind, because you are not investing with money you might need next week..  And from there, the whole long term mindset becomes way easier to maintain..

But at the same time, waiting forever just to understand more can also be a trap. Bitcoin is something you actually learn as you go..

It is not even to be called an investment if we are to used money that we will need for our basic needs to buy bitcoin. What it should be called is gambling in the disguise of investment. Investing in bitcoin isn't something that should be done with the mindset of making quick profit, this were so many make the mistake of using there house rent and money that is meant for other purposes for buying bitcoin with the mindset of making profit which is a very risky thing to do considering the nature of bitcoin.]

[cxtreenal]

[buying bitcoin with extra cash is investment. Infact most person prefer using extra cash to DCA since they won't be needing this money for any essential there won't be any pressure to sell . For those that are into bitcoin for long term it is more good if they used extra cash as this will make them to hold for long term. You maybe using discretionary income to buy bitcoin but that doesn't mean if an Extra cash arises that it will be bad to used it to buy bitcoin.

In additional to what you have said, investing with a Discretional income would help an investor to Hodl onto their Bitcoin investment longer without the pressure to sell since it is money they do not intend using.  Real life Emergency is something we should prepared  for as it can happen anytime as it may pressure an investor to sell their Bitcoin holdings. Therefore, investors should ensure they have an emergency funds in place to protect their Bitcoin holdings incase of unplanned occurrences.

Of course every investor needs to have an emergency fund to protect their holdings and invest in Bitcoin for the long term. Many people neglect this issue by buying Bitcoin through discretionary income because they think that as long as the income continues, they will be able to continue buying Bitcoin and build a strong holding. Investors think this way in the early stages of investing because they think that their earnings will continue to grow. But it is good to be aware that you can lose your job at any time or have an accident that prevents you from attending work. It is good to plan in advance how you can get relief from those emergencies by maintaining your Bitcoin holdings. You will especially understand the purpose of having an emergency fund at a time when you will face unexpected situations during your investment. Therefore always be prepared and have an emergency fund to protect your long term Bitcoin holdings.

[Charcol]

[buying bitcoin with extra cash is investment. Infact most person prefer using extra cash to DCA since they won't be needing this money for any essential there won't be any pressure to sell . For those that are into bitcoin for long term it is more good if they used extra cash as this will make them to hold for long term. You maybe using discretionary income to buy bitcoin but that doesn't mean if an Extra cash arises that it will be bad to used it to buy bitcoin.

In additional to what you have said, investing with a Discretional income would help an investor to Hodl onto their Bitcoin investment longer without the pressure to sell since it is money they do not intend using.  Real life Emergency is something we should prepared  for as it can happen anytime as it may pressure an investor to sell their Bitcoin holdings. Therefore, investors should ensure they have an emergency funds in place to protect their Bitcoin holdings incase of unplanned occurrences.

Having emergency funds handy is not negotiable and it remains the only alternative to a successful bitcoin experience. There have been people who believe in hopes(probably false) that there will be no emergency situation. When you make investment with your Discretionary income, you have an internal peace that will make you almost forget you have a fund tied to bitcoin somewhere. An investment is made with an extra fund because one also needs to have a good financial power or good Cashflow management to be able to succeed and avoid panic selling during extreme Volatility or emergency situation.

Investing in Bitcoin without an emergency fund is a direct mistake. The panic selling that occurs when the market goes down is due to money pressure. Those who have an emergency fund may stay calm and stick to their strategy, so we should have an emergency fund!

I don’t want to make it too complicated. Having an emergency fund is a good habit, that’s true. But investing in Bitcoin without an emergency fund is wrong, it seems too harsh to me. Many people have regular income, stable savings or various risk management systems, which do not allow them to touch their investments even in an emergency. The main reason for panic selling in the market is not always a lack of money. Sometimes lack of experience and pressure or false expectations are the reason for selling. An emergency fund certainly helps to succeed in Bitcoin. But making it a mandatory condition may not apply to everyone. An emergency does not always come. It can come suddenly. An investor without an emergency fund can start his investment, then gradually put a feasible percentage of his excess money in Bitcoin and the remaining percentage in an emergency fund and reserve fund. This will improve both the investment and the fund together.

[Bigjoe33]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from.

What do you mean by basic financial stability? Doesn't that sound a little bit ambiguous, perhaps, you might want to explain better for a clearer understanding. But No, you don't need a basic financial stability to start bitcoin investment, as you might not clearly ascertain ones financial stability as it differs from others. What you need is your ability to figure out your discretionary income with which you can begin your investment journey. While keeping on with your investment, you can dirt for ways to increase your income and also figure out the better ways that beats suits your financial flow

[Rhow]

It is not even to be called an investment if we are to used money that we will need for our basic needs to buy bitcoin. What it should be called is gambling in the disguise of investment. Investing in bitcoin isn't something that should be done with the mindset of making quick profit, this were so many make the mistake of using there house rent and money that is meant for other purposes for buying bitcoin with the mindset of making profit which is a very risky thing to do considering the nature of bitcoin.

I agree with you. There are many investors who hope to make a quick profit without investing in Bitcoin for the long term. Today the price of Bitcoin is $92k. When the price of Bitcoin started to fall, there are many new investors who sold out in fear.

They planned to buy deep. But at $85k they were not enthusiastic to invest. But now all the traders think that the price of Bitcoin is increasing again so they can invest now and earn profit after a few days. But the price of Bitcoin is not guaranteed. So its price can increase or decrease at any time. So all those traders are likely to face losses again.

[Alonso_]

It is not even to be called an investment if we are to used money that we will need for our basic needs to buy bitcoin. What it should be called is gambling in the disguise of investment. Investing in bitcoin isn't something that should be done with the mindset of making quick profit, this were so many make the mistake of using there house rent and money that is meant for other purposes for buying bitcoin with the mindset of making profit which is a very risky thing to do considering the nature of bitcoin.

I agree with you. There are many investors who hope to make a quick profit without investing in Bitcoin for the long term. Today the price of Bitcoin is $92k. When the price of Bitcoin started to fall, there are many new investors who sold out in fear.

They planned to buy deep. But at $85k they were not enthusiastic to invest. But now all the traders think that the price of Bitcoin is increasing again so they can invest now and earn profit after a few days. But the price of Bitcoin is not guaranteed. So its price can increase or decrease at any time. So all those traders are likely to face losses again.

People who are only interested in quick profits and are not ready to invest in Bitcoin for the benefit of long term accumulation goals, aren’t even called an investor instead you should call them traders, whoever that sells his or her Bitcoin because their is a dip or a downturn in the price market of bitcoin are still not to be called investors instead you should call them traders, because they are only interested in quick profits.

There are individuals who are into bitcoin for just some selfish reasons just to be buying and selling, well it’s because of ignorance they don’t know the huge mistake they are making, and they can never be successful in bitcoin investment.

[Creeper0]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from.

What do you mean by basic financial stability? Doesn't that sound a little bit ambiguous, perhaps, you might want to explain better for a clearer understanding. But No, you don't need a basic financial stability to start bitcoin investment, as you might not clearly ascertain ones financial stability as it differs from others. What you need is your ability to figure out your discretionary income with which you can begin your investment journey. While keeping on with your investment, you can dirt for ways to increase your income and also figure out the better ways that beats suits your financial flow

Investment requires a source of discretionary income, not a stable source of income.

There are people in our society from various professions, some have a stable source of income or some have an unstable source of income. There are even people who do not have a guaranteed source of income which is even more unstable.

This should not be the main issue, unstable sources of income are most of the time large sources of income from which it is possible to provide a regular supply of discretionary money. A stable source of income does not guarantee a prudent source of money. The size of the source of income and your daily expenditure on the income will determine whether you are able to provide a prudent source of money for investment or not.

[JayJuanGee]

It is not even to be called an investment if we are to used money that we will need for our basic needs to buy bitcoin. What it should be called is gambling in the disguise of investment. Investing in bitcoin isn't something that should be done with the mindset of making quick profit, this were so many make the mistake of using there house rent and money that is meant for other purposes for buying bitcoin with the mindset of making profit which is a very risky thing to do considering the nature of bitcoin.

I agree with you. There are many investors who hope to make a quick profit without investing in Bitcoin for the long term. Today the price of Bitcoin is $92k. When the price of Bitcoin started to fall, there are many new investors who sold out in fear.

They planned to buy deep. But at $85k they were not enthusiastic to invest. But now all the traders think that the price of Bitcoin is increasing again so they can invest now and earn profit after a few days. But the price of Bitcoin is not guaranteed. So its price can increase or decrease at any time. So all those traders are likely to face losses again.

People who are only interested in quick profits and are not ready to invest in Bitcoin for the benefit of long term accumulation goals, aren’t even called an investor instead you should call them traders, whoever that sells his or her Bitcoin because their is a dip or a downturn in the price market of bitcoin are still not to be called investors instead you should call them traders, because they are only interested in quick profits.

There are individuals who are into bitcoin for just some selfish reasons just to be buying and selling, well it’s because of ignorance they don’t know the huge mistake they are making, and they can never be successful in bitcoin investment.

Those who sell and expect to buy back cheaper are not only traders, but they seem to be someone who is not serious about investing into bitcoin, since it tends to take a long time for normal people to build up their bitcoin investment.  Many normal people may well spend 4-10 years or longer just ongoingly buying bitcoin before they might even come close to being in a place where they might change their strategy away from ongoing buying of bitcoin.

Sure, there might be some folks who might have had been able to get into bitcoin with various lump sum investment and/or perhaps even transfer of their value from some other asset and into bitcoin, yet even those folks might still take a long time to really able to build up their bitcoin investment, unless maybe they had been able to put a year or two of their income into bitcoin within their first few years of investing into bitcoin.

[yixichloro2xx]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from.

What do you mean by basic financial stability? Doesn't that sound a little bit ambiguous, perhaps, you might want to explain better for a clearer understanding. But No, you don't need a basic financial stability to start bitcoin investment, as you might not clearly ascertain ones financial stability as it differs from others. What you need is your ability to figure out your discretionary income with which you can begin your investment journey. While keeping on with your investment, you can dirt for ways to increase your income and also figure out the better ways that beats suits your financial flow

Bro you are the one not getting what Mr_Brilliant$ said.  The basic financial stability he is talking about includes the following, first your daily needs must be covered which includes your feeding, rents etc. secondly your emergency funds and reserve funds must covered i.e At least some cash for sudden problems like health or family issues. And lastly it is good that you don't have any outstanding debt that will pull you into selling your Bitcoin. So I don't know why, you said that a person don't need basic financial stability before he  can start investing Bitcoin. You must be mentally, emotionally, physically okay of you want hold Bitcoin for a long term and these financial stability can help you in a long run.

[Bigjoe33]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from.

What do you mean by basic financial stability? Doesn't that sound a little bit ambiguous, perhaps, you might want to explain better for a clearer understanding. But No, you don't need a basic financial stability to start bitcoin investment, as you might not clearly ascertain ones financial stability as it differs from others. What you need is your ability to figure out your discretionary income with which you can begin your investment journey. While keeping on with your investment, you can dirt for ways to increase your income and also figure out the better ways that beats suits your financial flow

Bro you are the one not getting what Mr_Brilliant$ said.  The basic financial stability he is talking about includes the following, first your daily needs must be covered which includes your feeding, rents etc. secondly your emergency funds and reserve funds must covered i.e At least some cash for sudden problems like health or family issues. And lastly it is good that you don't have any outstanding debt that will pull you into selling your Bitcoin. So I don't know why, you said that a person don't need basic financial stability before he  can start investing Bitcoin. You must be mentally, emotionally, physically okay of you want hold Bitcoin for a long term and these financial stability can help you in a long run.

Surely, we have said that investments in bitcoin must be done with your discretionary income, that means basic needs have been settled completely, no doubt. But the problem here is the word he used, ''financial stability'' or just the word, ''stability''. The point I was making is that you don't need to be financially stable as he puts it before beggining your investmen, yea! If we want to measure financial stability, and then tag it that without financial stability, no one should invest in bitcoin, then it will be difficult for people to invest in Bitcoin because everyone's income and/or family size or expenses are not the same. Also put in mind that what Mr A might call financial stability or enough income might just be a penny or might no go anywhere for Mr B, and vise versa, this is because Mr B might have enough or more responsibility to handle more then A.

So using that works that one must have basic financial stability makes it sound difficult to begin your investment since one may not attain financial stability easily. You also stated secondly that your emergency funds and reserve funds should at least be covered before starting your investment. I must say that trying to get all these ready before you begin your investment will just keep you away from getting started. They are all delays and you might keep missing out.

The only basic thing you need to get started with your investment right away is figuring out your discretionary income as I said earlier, with it, you can begin your gradual DCA buys, and while you are already investing, you can gradually build up those funds you mentioned above. Truly, they are needed, but they shouldn't be the reason you haven't started your investment. Start investing from your discretionary income if you have figured it out, and then you can set up your emergency funds and other back up funds gradually

[JayJuanGee]

The fact that a lot of people jump into Bitcoin without even having basic financial stability, and that is usually where the panic starts from.

What do you mean by basic financial stability? Doesn't that sound a little bit ambiguous, perhaps, you might want to explain better for a clearer understanding. But No, you don't need a basic financial stability to start bitcoin investment, as you might not clearly ascertain ones financial stability as it differs from others. What you need is your ability to figure out your discretionary income with which you can begin your investment journey. While keeping on with your investment, you can dirt for ways to increase your income and also figure out the better ways that beats suits your financial flow

Bro you are the one not getting what Mr_Brilliant$ said.  The basic financial stability he is talking about includes the following, first your daily needs must be covered which includes your feeding, rents etc. secondly your emergency funds and reserve funds must covered i.e At least some cash for sudden problems like health or family issues. And lastly it is good that you don't have any outstanding debt that will pull you into selling your Bitcoin. So I don't know why, you said that a person don't need basic financial stability before he  can start investing Bitcoin. You must be mentally, emotionally, physically okay of you want hold Bitcoin for a long term and these financial stability can help you in a long run.

Surely, we have said that investments in bitcoin must be done with your discretionary income, that means basic needs have been settled completely, no doubt. But the problem here is the word he used, ''financial stability'' or just the word, ''stability''. The point I was making is that you don't need to be financially stable as he puts it before beggining your investmen, yea! If we want to measure financial stability, and then tag it that without financial stability, no one should invest in bitcoin, then it will be difficult for people to invest in Bitcoin because everyone's income and/or family size or expenses are not the same. Also put in mind that what Mr A might call financial stability or enough income might just be a penny or might no go anywhere for Mr B, and vise versa, this is because Mr B might have enough or more responsibility to handle more then A.

So using that works that one must have basic financial stability makes it sound difficult to begin your investment since one may not attain financial stability easily. You also stated secondly that your emergency funds and reserve funds should at least be covered before starting your investment. I must say that trying to get all these ready before you begin your investment will just keep you away from getting started. They are all delays and you might keep missing out.

The only basic thing you need to get started with your investment right away is figuring out your discretionary income as I said earlier, with it, you can begin your gradual DCA buys, and while you are already investing, you can gradually build up those funds you mentioned above. Truly, they are needed, but they shouldn't be the reason you haven't started your investment. Start investing from your discretionary income if you have figured it out, and then you can set up your emergency funds and other back up funds gradually

I think that you described the overall approach correctly Bigjoe33.  Guys are going to be getting started in bitcoin from differing starting points, and surely some guys might have a lot of organization in their income and even in their historical cashflow management and even that they might have other investments at the time that they start in bitcoin.

Other guys might have a lot of disorganization and even uncertainties in their future income, yet if they already know themselves well enough to figure out that they have common sense (such as an ability to learn) and that they are starting their investment into bitcoin with discretionary funds, then they could otherwise have various kinds of instability and even various kinds of chaos in their finances and chaos in their psychology.... .. .. They might get started investing in bitcoin and then also realize that they have to get various aspects of their life in order, yet if they can clearly determine that they have discretionary funds, then they can get started.  

Of course, their ability to get started might not be the same as their ability to keep their finances going.  So they may well need to figure out their future expected income and if they might be able to improve it, and they may have to figure out their future expenses and if they can improve that also, and if they have a history of bad organization of their cashflow management and even their maintenance of back up funds, they may well need to work on improving those things too, especially if they are thinking in a context of protecting their bitcoin investment so that they won't have to sell any of their bitcoin at a time of their own choosing. and even if they might not be able to be sure that they can commit to investing into bitcoin for 4-10 years or more, they may well recognize that in order to be investing in bitcoin rather than trading, they are going to have to figure out if they might be able to commit to an investment timeline of 4-10 years or more and they might go through that planning while they are already starting to invest into bitcoin on a weekly basis from their discretionary funds.

So, even if there is levels of chaos in their historical finances, and even instability, they can still get started investing into bitcoin and work on improving their finance and psychology matters after they had already gotten started investing into bitcoin.  And, of course, we likely cannot know if any particular person is going to be successful in their bitcoin investment, since some aspects of their future success will depend on their execution of their various plans and making sure that they find some kind of a reasonable path to get bitcoin into their lives and perhaps even plan to increase their level of aggressiveness in their bitcoin investment as they are expecting their cashflow management systems to strengthen, and some of those matters are within their control in terms of figuring out ways to build up their cashflow management systems and practices...

and so maybe they start out with only a week or two of back up funds to cover their expenses, yet little by little as they are building up their bitcoin investment, they are also building up their back up funds so that by the time they get to having 3 months of their income invested in bitcoin they might also have 3 months of back up funds, too.