Balancing Financial security and Bitcoin Accumulation

[PhilosopherKing]

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.

You seem to be getting it wrong, anyone who sells out their Bitcoin due to fear of the dip, in pursuit of quit profit are bunch of traders. So why don't you use the right word rather than calling them investors. Most of these traders are used to filling up their head with all this shitty mentality of them being smart, when unknownly to them they are only as dumb as f**k. So why don't you just call a spade a spade- Investors accumulates while traders freak out and sell during dips or to make quick profit.

[dan_dony]

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.

Both points are valid, yet the concept of the basic financial stability is quite realistic in the case of investing in Bitcoin. It is just knowing you are taken care of in terms of the basic needs needed in food, rent, bills and also with a bit of emergency savings and hopefully not high-pressure debt over your head. Devoid of that, the people are likely to panic-sell when volatility occurs since they are in urgent demand of money. Bitcoin needs patience and emotional level, and it is significantly harder to maintain it in the situation of financial pressure. Naturally, you do not have to be rich to begin with; even modest incomes of discretionary nature would suffice. The only thing that ascertains that you can have long term is basic stability that does not expel you due to the unpredictability of the life issues.

[Bigjoe33]

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.

Yea, and of course, gradually, they begin to get it right and under control, because initially, they started with almost nothing, just gradual DCA buys and trying to figure things out, what bets suits there income and/or discretionary, plus a better way to manage there income and allocation, and when everything is figure out, they can now get a balance to a safe investment and building a long lasting BTC portfolio. Thus further shows that folks can actually start bitcoin investment once they have figured out there discretionary income, unlike some folks who still fret and want to get all the knowledge and solid financial stability before starting there investment, which is actually a delay procedure and a wrong investment mentality.

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.

You seem to be getting it wrong, anyone who sells out their Bitcoin due to fear of the dip, in pursuit of quit profit are bunch of traders. So why don't you use the right word rather than calling them investors. Most of these traders are used to filling up their head with all this shitty mentality of them being smart, when unknownly to them they are only as dumb as f**k. So why don't you just call a spade a spade- Investors accumulates while traders freak out and sell during dips or to make quick profit.

Surely, some folks might be ongoingly involved in bitcoin trading not knowing to them, and they might be proclaiming that are investors. Perhaps, maybe because they are not with the buy and Hodl mentality, then they might end up selling there little accumulated BTC for little gains, and failing to HODLing for long which is the real character of an investor and of course, which has a better promises as regards bitcoin investment. Think Long term, buy and HODL

[Nightwatchmare]

[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.

If there are people who believe there will be no emergency situation, it is probably because those people are not responsible for solving their daily expenses; they depend on their guidance to solve any expenses that come their way. Discretionary income is money we can use for non essential things in our lives. So if we prioritise investing in Bitcoin with discretionary income, we are not putting ourselves under pressure, and we will not panic to sell our Bitcoin if Bitcoin drop in price because we do not need discretionary income to solve our expenses. For us not to panic and sell our Bitcoin during extreme volatility, we need to stick with investing in Bitcoin with only discretionary income.

[Cossyblack]

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.

You seem to be more concerned about what people do with their Bitcoin. People are very difficult to understand, even if you want to help them follow the right paths,in the end they will still do do as they please, after all it's their Bitcoin and they can do whatever they want with it.. It's pointless when you pay too much attention to people Bitcoin, instead you should concentrate fully on accumulating Bitcoin rather than paying attention on others people bitcoin activities as you may get distracted or lose interest in Bitcoin.

[Rockson1]

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.

So what do you have to say about those investors, are you to advise those that sell in fear to continue selling in fear or is it better to make them understand that they can do anything to change the price if Bitcoin rather they should concentrate on investing more instead of investing for the purpose of making quick profit which might fail them along the line, real investors are busy acumulating Bitcoin, some other person's are there monitoring the market, Bitcoin upsurge to $94k yesterday night and i believe many sort timers that have been targeting such price has withdrawn some amount yesterday, I don't like discussing traders because it will give them the mind that they are been noticed.
I expected you to say something like if we eventually notice the price of Bitcoin dropping, we should buy more from then after all we have heard some persons say they like buying during then, why the complains again, am not advising anyone to buy at dips only, however, every opportunity should be utilize very well.

[Umulala-alala]

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.

So what do you have to say about those investors, are you to advise those that sell in fear to continue selling in fear or is it better to make them understand that they can do anything to change the price if Bitcoin rather they should concentrate on investing more instead of investing for the purpose of making quick profit which might fail them along the line, real investors are busy acumulating Bitcoin, some other person's are there monitoring the market, Bitcoin upsurge to $94k yesterday night and i believe many sort timers that have been targeting such price has withdrawn some amount yesterday, I don't like discussing traders because it will give them the mind that they are been noticed.
I expected you to say something like if we eventually notice the price of Bitcoin dropping, we should buy more from then after all we have heard some persons say they like buying during then, why the complains again, am not advising anyone to buy at dips only, however, every opportunity should be utilize very well.

Bitcoin investment is all about opportunities, we should always buy BTC in any price we found it without complaining of bitcoin price to be too high or too low. Volatility is the way of bitcoin, bitcoin will dip and at some point it also starts to appreciate in value, when the price of bitcoin dip it gives investors the opportunity to stack more BTC while it keeps gambling complaining because bitcoin price is going below the entry point they bought, if we apply the dca strategy we can buy bitcoin at any price without waiting for the dip before buying BTC.

[gracreavix]

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.

If there are people who believe there will be no emergency situation, it is probably because those people are not responsible for solving their daily expenses; they depend on their guidance to solve any expenses that come their way. Discretionary income is money we can use for non essential things in our lives. So if we prioritise investing in Bitcoin with discretionary income, we are not putting ourselves under pressure, and we will not panic to sell our Bitcoin if Bitcoin drop in price because we do not need discretionary income to solve our expenses. For us not to panic and sell our Bitcoin during extreme volatility, we need to stick with investing in Bitcoin with only discretionary income.

That part about responsibilities.  Once you become fully independent, like 100% relying on yourself, something just changes automatically in the way you handle money. You don’t even need anyone to lecture you, you just know that if you mismanage your funds, you’re the same person that will feel the heat later..

And that is exactly why using money meant for important bills or emergencies to invest in Bitcoin does not even make sense..  Because after the hype goes off and reality comes, you will still go back to those responsibilities you ignored..  Being self reliant forces you to separate things properly, like emergency funds on one side, your daily expenses on another, and then whatever is left, your actual discretionary income is what you can comfortably invest with…

[JayJuanGee]

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.

You seem to be getting it wrong, anyone who sells out their Bitcoin due to fear of the dip, in pursuit of quit profit are bunch of traders. So why don't you use the right word rather than calling them investors. Most of these traders are used to filling up their head with all this shitty mentality of them being smart, when unknownly to them they are only as dumb as f**k. So why don't you just call a spade a spade- Investors accumulates while traders freak out and sell during dips or to make quick profit.

I don't know if you are completely correct about this PhilosopherKing.

Sure, the investor does not have selling in their vocabulary and/or practice of building up their bitcoin holdings, so investors are mostly accumulating bitcoin without selling and/or ONLY having limited reasons for selling..  Their selling is not based on short-term price changes or desires to sell and to buy back cheaper.

Traders may or may not be emotional in their incorporation of selling into their practice, and like you suggested, so many times, even traders tend to refer to themselves as investors since some of them are wanting to sell BTC and to buy back cheaper to get more BTC. 

Sure some of them just want the dollar profits and others want to buy back cheaper and get some BTC so that they can sell those BTC when the price goes up.. so yeah, the traders are most likely chasing dollars rather than trying to build up their bitcoin holdings.

It seems that even if the traders were to have enough luck (or skill) to be able to build up their bitcoin holdings to larger amounts through selling and buying back cheaper, that kind of a practice still does not tend to sit right with investors who do not sell BTC with intentions to buy back cheaper, but instead regular BTC investors engage in ongoing buying of BTC without including selling as part of their accumulation methodology.

Another way that traders may well be calling themselves investors is that their overall goal may well be to continue to grow their trading portfolio, so they may well have bitcoin, dollars, shitcoins and other assets in their trading holdings, so if they are overall building their trading holdings and making them larger and larger, then they may well consider themselves to be winning and their overall trading capital serves as a form of an investment - and a successful one if they can keep it growing.  A frequent problem of the trader is that he might not have a separate source of income so he may well have to draw living expenses out of his trading capital, and so having separate funds for living expenses can be challenging for either investors or traders, yet many times, it is likely that traders are getting themselves in a trap because they are ongoingly changing positions and even if their goal might be to ongoingly build the size of their trading capital, they might ongoingly have troubles building it or figuring out out to measure whether it is growing or not.

In the end, traders have challenges, and they might even be engaging in a deeper level of dumb to be categorizing bitcoin as a trade rather than an investment and like you mentioned to the extent that many of the traders even personally know the difference between trading and investing... because there could be 1 out of 20 (5%-ish) who actually have some kind of a "profitable" system in place, while the overwhelming majority of traders would likely be better off to limit their trading to some very small portion of the way that they spend their time, energies and value, and for those degenerates who cannot resist trading/shitcoining, I tend to recommend to limit trading/shitcoining) to only 10% of the size of the bitcoin investment and without cheating and without further tapping into the bitcoin investment after losing the trading account... yet new money coming in could go 10% trading and 90% bitcoin. 

Limiting would at least contain the trading(gambling) shitcoining, yet degenerates would not be able to resist breaking through the limits, even if they self-imposed such limits.

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.

Both points are valid, yet the concept of the basic financial stability is quite realistic in the case of investing in Bitcoin. It is just knowing you are taken care of in terms of the basic needs needed in food, rent, bills and also with a bit of emergency savings and hopefully not high-pressure debt over your head. Devoid of that, the people are likely to panic-sell when volatility occurs since they are in urgent demand of money. Bitcoin needs patience and emotional level, and it is significantly harder to maintain it in the situation of financial pressure. Naturally, you do not have to be rich to begin with; even modest incomes of discretionary nature would suffice. The only thing that ascertains that you can have long term is basic stability that does not expel you due to the unpredictability of the life issues.

You don't need stability to get started investing in bitcoin, even though you might need to establish some level of stability in order to sustain a bitcoin investment, yet stability is not needed in the beginning and stability is not needed at all times, even though surely anyone who gets started investing into bitcoin, should have incentives to establish goals to not lose their bitcoin investment, so if they have common sense, then they should be working on creating and maintaining systems so that they do not have to put their bitcoin at risk of having to sell at a time that is not completely of their own choosing.

[Merit.s]

.  Being self reliant forces you to separate things properly, like emergency funds on one side, your daily expenses on another, and then whatever is left, your actual discretionary income is what you can comfortably invest with…

You don't need to seperate emergency funds from your income by sharing your income into three parts. You only need your discretionary income to invest into bitcoin and still build an emergency funds from your discretionary income. Your income should be used to take care of your basic needs and monthly expense, the left over is what you use to invest in bitcoin and build your backup funds. You can share your discretionary income into two parts in the beginning of your bitcoin investment.

You use one part to invest in bitcoin and use the other part of your discretionary income to build your emergency funds to at least three months of your monthly expenses.

[Xackie]

[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.

If there are people who believe there will be no emergency situation, it is probably because those people are not responsible for solving their daily expenses; they depend on their guidance to solve any expenses that come their way. Discretionary income is money we can use for non essential things in our lives. So if we prioritise investing in Bitcoin with discretionary income, we are not putting ourselves under pressure, and we will not panic to sell our Bitcoin if Bitcoin drop in price because we do not need discretionary income to solve our expenses. For us not to panic and sell our Bitcoin during extreme volatility, we need to stick with investing in Bitcoin with only discretionary income.

you said it well. investing with discretionary fund is a very good option, especially in something as volatile as Bitcoin. If we are able to cover our essential expenses, there won't be chance for unnecessary panic which might force you to sell during market swing. Because if those basic expenses are covered, the urge to sell your holdings will take over you  in other to cover those needs .  What is required for every investor is to have a proper risk management and also be disciplin, this are what allow investors to stay calm, focused, and consistent through every phase of the market.

[JayJuanGee]

.  Being self reliant forces you to separate things properly, like emergency funds on one side, your daily expenses on another, and then whatever is left, your actual discretionary income is what you can comfortably invest with…

You don't need to seperate emergency funds from your income by sharing your income into three parts. You only need your discretionary income to invest into bitcoin and still build an emergency funds from your discretionary income. Your income should be used to take care of your basic needs and monthly expense, the left over is what you use to invest in bitcoin and build your backup funds. You can share your discretionary income into two parts in the beginning of your bitcoin investment.

You use one part to invest in bitcoin and use the other part of your discretionary income to build your emergency funds to at least three months of your monthly expenses.

What about discretionary consumption?

I think that everyone needs some amount of discretionary consumption.

I think that there are at least three categories that discretionary income can be split into 1) investment, 2) savings 3) consumption

[Joeboy]

You don't need stability to get started investing in bitcoin, even though you might need to establish some level of stability in order to sustain a bitcoin investment, yet stability is not needed in the beginning and stability is not needed at all times, even though surely anyone who gets started investing into bitcoin, should have incentives to establish goals to not lose their bitcoin investment, so if they have common sense, then they should be working on creating and maintaining systems so that they do not have to put their bitcoin at risk of having to sell at a time that is not completely of their own choosing.

Everything does not have to be perfect when starting out that is why I concur that financial stability shouldn't be a necessity for investment, even though it may be needed in long run... The kind of attitude that folks brings into Bitcoin matter alot.  Though your finances may not be perfect from the start, but then if you approach Bitcoin with the intention of learning, growing and then making the adjustments in your finances and otherwise, then that's them building a better habit. And also in the course of their journey they can as well adopt more better habits of putting proper structures in place which can help protect their Bitcoin holdings.
.

[JayJuanGee]

You don't need stability to get started investing in bitcoin, even though you might need to establish some level of stability in order to sustain a bitcoin investment, yet stability is not needed in the beginning and stability is not needed at all times, even though surely anyone who gets started investing into bitcoin, should have incentives to establish goals to not lose their bitcoin investment, so if they have common sense, then they should be working on creating and maintaining systems so that they do not have to put their bitcoin at risk of having to sell at a time that is not completely of their own choosing.

Everything does not have to be perfect when starting out that is why I concur that financial stability shouldn't be a necessity for investment, even though it may be needed in long run...

Stability might be something that is preferred and also something that we build towards attaining, yet there also can be curve balls that are thrown towards guys at various points in their lives so they might enter into several periods of instability during their bitcoin investment, yet they should still be striving to have systems in place so that they do not have to sell any of their bitcoin at a time that is not completely of their own choosing... and maybe through the years, if such guys in frequently ongoing situations end up hanging onto all of their bitcoin, then perhaps the bitcoin might be the one thing in their life that ended up being stable.. since it had been protected and prioritized.

Many of us likely realize that many times guys put themselves into their own unstable situations, so I am not going to proclaim that guys are always victims of things happening to them on an ongoing basis that they are not able to mitigate and/or to prevent and/or to minimize.. Yet, we still cannot necessarily account for all of the possible scenarios and situations that guys might find themselves in when they are deciding to get into bitcoin and/or perhaps building their bitcoin investment and/or trying to maintain their bitcoin investment.

Guys might even know that they need to build strong cashflow management systems around themselves, and maybe they don't quite reach levels of cash cushions and cash back ups that keep them out of drama, yet at the same time, if they are working towards building and maintaining those kinds of systems, they still might end up saving themselves from worse outcomes based on their having had put such cashflow management systems/practice in place, so even if they did not completely remove themselves from the drama or the losses, they still might have had ended up mitigating and/or lessening the drama and damage to themselves, their finances and/or their psychology.  

As the old saying goes, we cannot let the perfect be the enemy of the good... and guys work within their capacitities and may well have room for improvement in what they are doing and the cashflow management (and life management) systems/practices that they have set up around them.

The kind of attitude that folks brings into Bitcoin matter alot.  Though your finances may not be perfect from the start, but then if you approach Bitcoin with the intention of learning, growing and then making the adjustments in your finances and otherwise, then that's them building a better habit. And also in the course of their journey they can as well adopt more better habits of putting proper structures in place which can help protect their Bitcoin holdings.

That is surely the case.  Many times people tend to be way more comfortable to be making changes within a framework that they already know, and if they come to bitcoin and they already have a lot of bad habits, it may well take them a lot more time to get their shit in order as compared with a guy who might be starting with better habits and even perhaps with back up resources that he had already set up through the years.. .

Let me throw out a hypothetical:

So if there are two guys in their early 30s with similar income levels of around $30k per year and each are thinking about starting to get into bitcoin with $100 per week.  Maybe they have similar levels of expenses of around $1,200 to $1,600 per month, yet one guy is quite organized and has other investments and back up funds that add up to being around $6k (around 1/5 his annual income), and the other less organized guy only has around $400 in his various cash reserves, and he has an outstanding loan that has a balance of around $600 in which he has been paying $50 per month.  These guys might have differing kinds of lifestyles that had gotten them to their current position (even though they are really not very far apart), yet the guy with more resources (based on his being better organized) is going to be in a better position to increase his level of aggressiveness in his bitcoin investment, if he wants to.  The better oganized guy is in a better position to take greater risks within his bitcoin investing practices.  

The guy will fewer resources may well be better off to get his finances in a better order, yet he might still have several bad habits that he needs to work on improving in regards to his habit of spending most if not all of his paycheck every time it comes in, and even his keeping track of his cashflows might need to improve, and the less organized guy might need to learn some better habits, yet it might take him several years to develop a better mindset and better practices and to maybe get closer to the situation of the organized guy.  Yet, the personality of the unorganized guy might cause him a lot of difficulties to get to a similar place as the organized guy so he has to work with what he has and figure out which parts he wants to improve and which parts he wants to keep in the unorganized ways that contributes to risk and sometimes stress when he is running out of money.. and if he is investing into bitcoin, the unorganized guy might be more likely to put his bitcoin at risk if he cannot figure out ways to improve several aspects of his cashflow and life management systems/practices.

Guys make choices and sometimes their level of organization will put them in better or worse circumstances in order to deal with various curve balls in life when they are thrown at them, yet even in my above example, the unorganized guy does not have to get his life and his finances and his organization to the level of the organized guy before he can start investing in bitcoin, even though how aggressively he starts in bitcoin might be affected by his level of organization and which parts of his cashflow management he is ready, willing and able to improve/strengthen.  The stronger he organizes his finances, the more aggressive he can be with his bitcoin investment, and if it is taking him time to get his finances in order and/or to stabilize his life, he still can invest in bitcoin, yet perhaps with a bit of a more conservative approach while he is strengthening his cashflow management systems/practices.

My frequent point has been that guys can get started investing in bitcoin as soon as possible whether they are stable in their finances and/or psychology or not and whether they completely improve the stability of their life or not, yet the guys who have better and stronger cashflow management systems/practices are going to continue to be in better positions than the guys who do not have good cashflow management systems and practices.. and anyone who is involved in bitcoin is in a better position to learn and to be incentivized to learn, yet being in bitcoin by itself is not going to fix their situation if they continue to carry out poor and risky practices and fail/refuse to improve their cashflow management practices/systems...

[Alonso_]

That is surely the case.  Many times people tend to be way more comfortable to be making changes within a framework that they already know, and if they come to bitcoin and they already have a lot of bad habits, it may well take them a lot more time to get their shit in order as compared with a guy who might be starting with better habits and even perhaps with back up resources that he had already set up through the years.. .

Let me throw out a hypothetical:

So if there are two guys in their early 30s with similar income levels of around $30k per year and each are thinking about starting to get into bitcoin with $100 per week.  Maybe they have similar levels of expenses of around $1,200 to $1,600 per month, yet one guy is quite organized and has other investments and back up funds that add up to being around $6k (around 1/5 his annual income), and the other less organized guy only has around $400 in his various cash reserves, and he has an outstanding loan that has a balance of around $600 in which he has been paying $50 per month.  These guys might have differing kinds of lifestyles that had gotten them to their current position (even though they are really not very far apart), yet the guy with more resources (based on his being better organized) is going to be in a better position to increase his level of aggressiveness in his bitcoin investment, if he wants to.  The better oganized guy is in a better position to take greater risks within his bitcoin investing practices.  

The guy will fewer resources may well be better off to get his finances in a better order, yet he might still have several bad habits that he needs to work on improving in regards to his habit of spending most if not all of his paycheck every time it comes in, and even his keeping track of his cashflows might need to improve, and the less organized guy might need to learn some better habits, yet it might take him several years to develop a better mindset and better practices and to maybe get closer to the situation of the organized guy.  Yet, the personality of the unorganized guy might cause him a lot of difficulties to get to a similar place as the organized guy so he has to work with what he has and figure out which parts he wants to improve and which parts he wants to keep in the unorganized ways that contributes to risk and sometimes stress when he is running out of money.. and if he is investing into bitcoin, the unorganized guy might be more likely to put his bitcoin at risk if he cannot figure out ways to improve several aspects of his cashflow and life management systems/practices.

Guys make choices and sometimes their level of organization will put them in better or worse circumstances in order to deal with various curve balls in life when they are thrown at them, yet even in my above example, the unorganized guy does not have to get his life and his finances and his organization to the level of the organized guy before he can start investing in bitcoin, even though how aggressively he starts in bitcoin might be affected by his level of organization and which parts of his cashflow management he is ready, willing and able to improve/strengthen.  The stronger he organizes his finances, the more aggressive he can be with his bitcoin investment, and if it is taking him time to get his finances in order and/or to stabilize his life, he still can invest in bitcoin, yet perhaps with a bit of a more conservative approach while he is strengthening his cashflow management systems/practices.

My frequent point has been that guys can get started investing in bitcoin as soon as possible whether they are stable in their finances and/or psychology or not and whether they completely improve the stability of their life or not, yet the guys who have better and stronger cashflow management systems/practices are going to continue to be in better positions than the guys who do not have good cashflow management systems and practices.. and anyone who is involved in bitcoin is in a better position to learn and to be incentivized to learn, yet being in bitcoin by itself is not going to fix their situation if they continue to carry out poor and risky practices and fail/refuse to improve their cashflow management practices/systems...

What you have said is very true, People who have been investing in bitcoin and have this little discrepancy more like a bad habit which when they are investing it could really affect themselves like someone who have some discrepancy in come that could be divided between for investment and savings and some lifestyle, when some lifestyle could actually  be a challenge, like taking alcohol, clubbing, living and extravagant lifestyle choices could actually be a problem and sometimes it’s difficult to adjust, then someone who have a good lifestyle and can control him or herself m, could actually have a better investment compared to someone who have a bad and terrible lifestyle and doesn’t have control over himself, he will sometimes need adjustment and it might as well take sometime to function properly with investing in bitcoin.

Someone who have some savings more like a backup funds over the years as well would definitely have a tendency of functioning well with investing in bitcoin compared to someone who is starting to figure out his income and also trying to adjust with the demand of making an investment in bitcoin and also applying some sustainable financial strategies to help in protecting our bitcoin investment like Emergency Fund and reserved funds which can also serves as a backup funds.

[GIF-JOBS]

You don't need stability to get started investing in bitcoin, even though you might need to establish some level of stability in order to sustain a bitcoin investment, yet stability is not needed in the beginning and stability is not needed at all times, even though surely anyone who gets started investing into bitcoin, should have incentives to establish goals to not lose their bitcoin investment, so if they have common sense, then they should be working on creating and maintaining systems so that they do not have to put their bitcoin at risk of having to sell at a time that is not completely of their own choosing.

Everything does not have to be perfect when starting out that is why I concur that financial stability shouldn't be a necessity for investment, even though it may be needed in long run... The kind of attitude that folks brings into Bitcoin matter alot.  Though your finances may not be perfect from the start, but then if you approach Bitcoin with the intention of learning, growing and then making the adjustments in your finances and otherwise, then that's them building a better habit. And also in the course of their journey they can as well adopt more better habits of putting proper structures in place which can help protect their Bitcoin holdings.
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You don't have to stabilize everything before starting, but you have to start first and stabilize everything by keeping the investment consistent. If you don't start investing here, you will fall behind, so delaying the investment for anything is not the right decision. Investment should be considered as a necessary thing, if you can charge it here, then it will give you backup in the future, like a battery. Charge it continuously for a long time, after that you keep taking backup from it.

[yixichloro2xx]

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.

So what do you have to say about those investors, are you to advise those that sell in fear to continue selling in fear or is it better to make them understand that they can do anything to change the price if Bitcoin rather they should concentrate on investing more instead of investing for the purpose of making quick profit which might fail them along the line, real investors are busy acumulating Bitcoin, some other person's are there monitoring the market, Bitcoin upsurge to $94k yesterday night and i believe many sort timers that have been targeting such price has withdrawn some amount yesterday, I don't like discussing traders because it will give them the mind that they are been noticed.
I expected you to say something like if we eventually notice the price of Bitcoin dropping, we should buy more from then after all we have heard some persons say they like buying during then, why the complains again, am not advising anyone to buy at dips only, however, every opportunity should be utilize very well.

Bitcoin investment is all about opportunities, we should always buy BTC in any price we found it without complaining of bitcoin price to be too high or too low. Volatility is the way of bitcoin, bitcoin will dip and at some point it also starts to appreciate in value, when the price of bitcoin dip it gives investors the opportunity to stack more BTC while it keeps gambling complaining because bitcoin price is going below the entry point they bought, if we apply the dca strategy we can buy bitcoin at any price without waiting for the dip before buying BTC.

Of course, it is easy to buy Bitcoin at any price. But we have to be careful so that we won't just do it blindly. Understanding the market properly, helps you make smarter decisions before jumping in. Yeah, implementing the DCA as part of strategy  is the best option in this kind of approach as it lets you build your Bitcoin stack in a steady manner without stressing over exact timing and   also it makes you avoid getting trapped by short term price movements which may results into unnecessary panicking and emotional breakdown.

[Nightwatchmare]

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.

So what do you have to say about those investors, are you to advise those that sell in fear to continue selling in fear or is it better to make them understand that they can do anything to change the price if Bitcoin rather they should concentrate on investing more instead of investing for the purpose of making quick profit which might fail them along the line, real investors are busy acumulating Bitcoin, some other person's are there monitoring the market, Bitcoin upsurge to $94k yesterday night and i believe many sort timers that have been targeting such price has withdrawn some amount yesterday, I don't like discussing traders because it will give them the mind that they are been noticed.
I expected you to say something like if we eventually notice the price of Bitcoin dropping, we should buy more from then after all we have heard some persons say they like buying during then, why the complains again, am not advising anyone to buy at dips only, however, every opportunity should be utilize very well.

Bitcoin investment is all about opportunities, we should always buy BTC in any price we found it without complaining of bitcoin price to be too high or too low. Volatility is the way of bitcoin, bitcoin will dip and at some point it also starts to appreciate in value, when the price of bitcoin dip it gives investors the opportunity to stack more BTC while it keeps gambling complaining because bitcoin price is going below the entry point they bought, if we apply the dca strategy we can buy bitcoin at any price without waiting for the dip before buying BTC.

Of course, it is easy to buy Bitcoin at any price. But we have to be careful so that we won't just do it blindly. Understanding the market properly, helps you make smarter decisions before jumping in. Yeah, implementing the DCA as part of strategy  is the best option in this kind of approach as it lets you build your Bitcoin stack in a steady manner without stressing over exact timing and   also it makes you avoid getting trapped by short term price movements which may results into unnecessary panicking and emotional breakdown.

As far as you are accumulating Bitcoin with discretionary income, there is no need for you to be careful in accumulating Bitcoin because if you are trying to figure out the perfect time to buy Bitcoin, you will not achieve that, and in the course of doing that, it will limit you from accumulating Bitcoin, and you will miss a lot of buying opportunities. If your discretionary income is ready for use, the best way to buy Bitcoin is right away with the DCA method. If you are concerned about buying Bitcoin in the dip, the DCA method will allow you to buy the dip whenever it happens, but you need to be consistent in accumulating Bitcoin with the DCA method before it will be achievable.

[Yorubek]

You don't need stability to get started investing in bitcoin, even though you might need to establish some level of stability in order to sustain a bitcoin investment, yet stability is not needed in the beginning and stability is not needed at all times, even though surely anyone who gets started investing into bitcoin, should have incentives to establish goals to not lose their bitcoin investment, so if they have common sense, then they should be working on creating and maintaining systems so that they do not have to put their bitcoin at risk of having to sell at a time that is not completely of their own choosing.

Everything does not have to be perfect when starting out that is why I concur that financial stability shouldn't be a necessity for investment, even though it may be needed in long run... The kind of attitude that folks brings into Bitcoin matter alot.  Though your finances may not be perfect from the start, but then if you approach Bitcoin with the intention of learning, growing and then making the adjustments in your finances and otherwise, then that's them building a better habit. And also in the course of their journey they can as well adopt more better habits of putting proper structures in place which can help protect their Bitcoin holdings.
.

You don't have to stabilize everything before starting, but you have to start first and stabilize everything by keeping the investment consistent. If you don't start investing here, you will fall behind, so delaying the investment for anything is not the right decision. Investment should be considered as a necessary thing, if you can charge it here, then it will give you backup in the future, like a battery. Charge it continuously for a long time, after that you keep taking backup from it.

Success can be achieved by managing investments with consistency. We have to buy small amounts gradually and maintain consistency, as a result, it will be by our side as a big backup in the future. Inflation is increasing day by day, if we want to protect ourselves from this situation, then we must buy Bitcoin and hold it patiently for a long time, as a result, it is possible to protect ourselves from inflation and profit can be expected in the long term. By maintaining consistency, buy more and more Bitcoin and holding it for a long time, it stands by us as a big backup in the future.

[Padi24]

Of course, it is easy to buy Bitcoin at any price. But we have to be careful so that we won't just do it blindly. Understanding the market properly, helps you make smarter decisions before jumping in. Yeah, implementing the DCA as part of strategy  is the best option in this kind of approach as it lets you build your Bitcoin stack in a steady manner without stressing over exact timing and   also it makes you avoid getting trapped by short term price movements which may results into unnecessary panicking and emotional breakdown.

Whether DCA or no DCA I think it is individuals choice to decide the method that will be faster for them while accumulating Bitcoin, DCA is not basically meant for newbies alone both Old investors can as well make use of it when necessary. However, whether newbies or not so Long as you have gotten the basic knowledge with enough discretionary income you have every right to adopt any method of your choice the reason why DCA is highly recommended is for the sake of those that doesn't have enough discretionary or a good cash flow but we shouldn't make it look as if DCA is a method that is basically meant for newbies who are getting started, to me once a newbie understand the concept of Bitcoin investment and also have the strong determination or the strength to withstand the market volatility of course he have every right to buy using any method they think is suitable for them.