Balancing Financial security and Bitcoin Accumulation

[Qhunman]

I totally agree with you because if actually a newbie was told from the beginning of his Bitcoin portfolio within or out side the forum that he needs to wait when the dip finally happens before considering of buying he/she is really missing out market opportunities were he could have accumulated so many Bitcoin with DCA strategy, like wise as i always advise to all newbies within the forum that the hours of investing is now, if have not started buying and if you have started buying it is not a bad idea of adding to the one that you have bought already to accumulate as much as you your discretionary income can carry.

Yep I agree with you.. newbies may be misinformed from the beginning about bitcoin because they haven't acquired the basic knowledge needed to accumulating bitcoin. A newbie should acquire the basic knowledge so that they can understand how these strategies is used in accumulating bitcoin. Bitcoin accumulating strategies works uniquely and can be used effectively provided there is discretionary income. A newbie can combine both DCA and Buy the Dip Strategy in accumulate bitcoin provided he is knows what's he is  doing while figuring out Discretionary income for efficient buying. Everything still boils down to basic knowledge and discretionary income

[yixichloro2xx]

Of course, investing with money you can't afford to lose can sometimes be a bit like gambling, especially when you expect short-term success from Bitcoin. Those who think that now is a good time to buy, through unrealistic thinking, invest more money than they can afford, hoping that they will get success from it in a very short time, and later they will use this money to meet their needs and have fun with the profits they have made from this short-term investment, but is it a realistic decision to take these things as easy as that? Never, such a decision can only lead to losses, although many will not realize it at first, but when they have already lost, they will realize, but then there will be no other choice.

This usually happens most times. Some will want to use money that is meant for their life expenses to invest in bitcoin, then they will start hoping or having high expectations it pumps fast so that they get their profits back. Alot of daydreaming that will be going through their minds. It's very wrong because that is not investing rather it's just pure risk taking and gambling. Bitcoin works best for someone when they don't put their minds on short term profits instead for long term belivers. Using money that isn't meant to cover expenses is the best decision.

[Cgrexp]

I totally agree with you because if actually a newbie was told from the beginning of his Bitcoin portfolio within or out side the forum that he needs to wait when the dip finally happens before considering of buying he/she is really missing out market opportunities were he could have accumulated so many Bitcoin with DCA strategy, like wise as i always advise to all newbies within the forum that the hours of investing is now, if have not started buying and if you have started buying it is not a bad idea of adding to the one that you have bought already to accumulate as much as you your discretionary income can carry.

Yep I agree with you.. newbies may be misinformed from the beginning about bitcoin because they haven't acquired the basic knowledge needed to accumulating bitcoin. A newbie should acquire the basic knowledge so that they can understand how these strategies is used in accumulating bitcoin. Bitcoin accumulating strategies works uniquely and can be used effectively provided there is discretionary income. A newbie can combine both DCA and Buy the Dip Strategy in accumulate bitcoin provided he is knows what's he is  doing while figuring out Discretionary income for efficient buying. Everything still boils down to basic knowledge and discretionary income

Bitcoin investors don’t need to imagine that they must have to buy deep or implement any meaningful deep strategy. If they are in Bitcoin for a long time, one can continue to buy for many years. Sometimes they continue to buy, sometimes they run out of money, sometimes they try to buy deep and the price drops even more. As a result, sometimes the purchase can be 20 to 30 percent below the final low, but as more money comes in, the investor can continue to buy. After a cycle or two, the investor may feel that his Bitcoin holdings are starting to grow quite large. Some savers make the mistake of selling too much of their Bitcoin too quickly. They should have focused on buying continuously and learned from this and then saved patiently. Hopefully, investors will continue their Bitcoin journey, holding most of the time and reducing when necessary, but not everyone learns properly how important it is to hold on and not sell too quickly.

[Joeboy]

Yes is possible that one can actually accumulate bitcoin without having any form of stable income . But is still advisable that you have other sources to make things smoother and easier . Because if one is a contract worker he or she won’t always know when is service would be needed , and sometime they can stay for a while without seeing any client , and such can literally affect the growth of one investment . So the best is having other sources that would help to cover that gap.

Stable income is not strictly a criteria to accumulating Bitcoin, though it may very well be needed while folks are already in their accumulation phase.....Nothing is certain for sure, So I think that even if folks are not able to achieve a stable income along the way, they should still always ensure that their basic needs is first met and then they may very well apply flexibility in their investments, by investing when they can for a duration longer than 4years, coz as it is always said, a low coiner is far more better than a no coiner...

[Olatundespo]

Of course, investing with money you can't afford to lose can sometimes be a bit like gambling, especially when you expect short-term success from Bitcoin. Those who think that now is a good time to buy, through unrealistic thinking, invest more money than they can afford, hoping that they will get success from it in a very short time, and later they will use this money to meet their needs and have fun with the profits they have made from this short-term investment, but is it a realistic decision to take these things as easy as that? Never, such a decision can only lead to losses, although many will not realize it at first, but when they have already lost, they will realize, but then there will be no other choice.

This usually happens most times. Some will want to use money that is meant for their life expenses to invest in bitcoin, then they will start hoping or having high expectations it pumps fast so that they get their profits back. Alot of daydreaming that will be going through their minds. It's very wrong because that is not investing rather it's just pure risk taking and gambling. Bitcoin works best for someone when they don't put their minds on short term profits instead for long term belivers. Using money that isn't meant to cover expenses is the best decision.

For this reason investors are advised to accumulate Bitcoin through discretionary income. This greatly reduces the risk for investors at every level. You should make lump sum buy to increase your Bitcoin holdings. Every investor needs to develop a risk tolerant financial system to get to that level and take risks. Suppose you have $10k in cash and you decide to buy Bitcoin lump sum with it. This will be a very positive decision. Buying Bitcoin in this strategy will be more positive for you if DCA is ongoing. Long term investment is a period of 4-10 years. It is necessary to have a backup fund to Bitcoin smoothly during DCA and this is one of the strategies of an experienced investor.

Beliefs can be created from emotions but there is no place for emotions in investing. You have to accumulate Bitcoin from a place of realistic thinking to deal with risks through DCA strategy.

[Bigjoe33]

 A newbie should acquire the basic knowledge so that they can understand how these strategies is used in accumulating bitcoin.

Acquiring knowledge is good, but a newbie investor does not need to acquire all the knowledge before starting his bitcoin investment, nope. All he needs to start his investment is a basic knowledge of figuring out his discretionary income and/or what his discretionary income is, and with it, can begin his investment right away. Once he has figured out what his discretionary income is, and have started his investment, he would gradually learn better ways to adjust and/or manage his income properly for a better income allocation to his weekly or monthly DCA buys. So starting your investment from your discretionary is basic, other basic knowledge needed will be acquired gradually as you keep investing.

[icebar]

Acquiring knowledge is good, but a newbie investor does not need to acquire all the knowledge before starting his bitcoin investment,

If investing in Bitcoin is delayed just to gain knowledge, that investment will be hindered. It may happen that when the price of Bitcoin is decreasing, he will interest from the investment and if it is increasing, he will regret it. To avoid such a situation, it is best to start investing and simultaneously acquire knowledge about Bitcoin. As a result, if he does DCA, his investment will increase, and he can become a large holder of Bitcoin. There are many investors who are regretting the increase in the price of Bitcoin. Although Bitcoin does not guarantee investment profits, Bitcoin can play a good role in the financial security of those who invest for the long term.

[gracreavix]

Of course, investing with money you can't afford to lose can sometimes be a bit like gambling, especially when you expect short-term success from Bitcoin. Those who think that now is a good time to buy, through unrealistic thinking, invest more money than they can afford, hoping that they will get success from it in a very short time, and later they will use this money to meet their needs and have fun with the profits they have made from this short-term investment, but is it a realistic decision to take these things as easy as that? Never, such a decision can only lead to losses, although many will not realize it at first, but when they have already lost, they will realize, but then there will be no other choice.

it is not even a bit like gambling, it is pure gambling. Becaue why would anyone invest money that would seriously hurt them if they lose it? That has already beat the whole idea of investing to me. Putting in money you need for survival or something later, just because you are hoping for profit, is pure risk taking, not investing.
It is bad if people do not see the damage at first, because when things go bad, that is when reality will come, and by then it will be too late..

[Obulis]

Your idea of taking profits is pretty vague, liasbaa, and it does not seem like an investor kind of a mindset, especially if investors are taking 4-10 years or longer to build up their bitcoin holdings.  Why would we be thinking about "taking profits?" Are we looking at dollar profits?  What is the point that you are wanting to make with your "profits taking" ideas?  What are you planning to do with such "profits?"   Are you of the opinion that everyone is motivated by "profits" whether they are in bitcoin for the long term or the short term?  What level of profits should motivate you?  

I am trying to say in this paragraph is to keep accumulating Bitcoin as long as you have a steady stream of income or a source of discretionary income. My main point is not to tempt investors to take short term profits because many are ready to take their long term investments to the trading stage if they see a pumping season. It is not a good sign for investors to sell Bitcoin for a small profit before accumulating it for the long term.

For example, you are accumulating Bitcoin with a long term plan through a DCA strategy through discretionary income. The target is 4-10 years but within 3 years you see a pumping in the price, greed is a big barrier for investors to achieve their goals. What I am trying to say is that DCA is a great way to achieve your main Bitcoin holding target.

the income must not be steady before we can accumulate and invest in bitcoin because there are those who works as contractors, they don't get to receive money or salaries steady weather weekly or monthly salary, the only time they can get money sometimes is after they might have gotten and finished a particular contract. such people doesn't have a steady income stream are you going to suggest that since their income is not always stable or steady that they should not be buying bitcoin? what is only needed is discretionary income to buy with and not a steady stream of income.

The more irrregular a person's income and/or expenses, then the more challenging for him to determine the extent to which he has discretionary funds available, so if he makes mistakes with his determination of his having discretionary funds, then he might suffer from that - unless he merely keeps larger amounts of cash reserves in order to cushion his financial flows in order to account for potential mistakes in his determination of his having discretionary funds available.

Yes it is true. If somebody doesn't have a stable income, they may find it difficult to determine availability of discretionary income or the amount of discretionary they have. Since the income isn't stable they may end up using more than there discretionary income for buying bitcoin and this may put them into financial pressures they never expected. The best thing is to set aside a back up funds that is large so that incase they mistakenly used more than there discretionary income for buying bitcoin, they can always fall back to the reserve funds/ back up funds in other to be able to meet up with there expenses.

It is true that if anyone have irregular income, they may misunderstand their discretionary fund, but does that mean they will not invest? Of course, they will, in that case, they should keep a reserve/emergency fund and start investing in Bitcoin or other investments later. If someone suspects that they may need this money, then it is no longer investment money, but investing with that money is like gambling with the investment money. The strongest protection for people with irregular income to invest in Bitcoin is to invest in small amounts, irregularly but with the understanding of the opportunity, never borrowing money.

Of course, investing with money you can't afford to lose can sometimes be a bit like gambling, especially when you expect short-term success from Bitcoin. Those who think that now is a good time to buy, through unrealistic thinking, invest more money than they can afford, hoping that they will get success from it in a very short time, and later they will use this money to meet their needs and have fun with the profits they have made from this short-term investment, but is it a realistic decision to take these things as easy as that? Never, such a decision can only lead to losses, although many will not realize it at first, but when they have already lost, they will realize, but then there will be no other choice.

Ordinarily short-term has always been seen to be gambling! So asking if "it's a realistic decision" has a simple answer which blatant no. Also, gambling some at times usually goes with the funds that the gambler can't really afford at that moment and at times they even engage the resources they can't afford for say half a year and painfully a life time thereby pushing themselves or the whole family (if married) into unnecessary shambles. Some gamblers has made mistake that they couldn't recover from all life long.
There are obvious gambling platforms, there gambling can happen but people should try to handle Bitcoin not as gambling.

[Bigjoe33]

There are obvious gambling platforms, there gambling can happen but people should try to handle Bitcoin not as gambling.

Treating or handling bitcoin investment as gambling is a misconception or misinterpretation and/or misunderstanding of what bitcoin investment really is and such delusional thinking or thoughts should be discarded.

When you gamble, your money is put on risk, you are not sure of anything, you may loose immediately, or you may also win, but there is a very high probability of loss since you are marely predicting, but when you invest in bitcoin, even though we have no guarantee of when the price might increase, but from history, the price of bitcoin always climbs if we buy and hodl for long. So there is hope that if we buy and HODL our investment for long term, we will make profits as the price of Bitcoin will eventually appreciate in the nearest future

[Hardyrobust]

Yes is possible that one can actually accumulate bitcoin without having any form of stable income . But is still advisable that you have other sources to make things smoother and easier . Because if one is a contract worker he or she won’t always know when is service would be needed , and sometime they can stay for a while without seeing any client , and such can literally affect the growth of one investment . So the best is having other sources that would help to cover that gap.

Stable income is not strictly a criteria to accumulating Bitcoin, though it may very well be needed while folks are already in their accumulation phase.....Nothing is certain for sure, So I think that even if folks are not able to achieve a stable income along the way, they should still always ensure that their basic needs is first met and then they may very well apply flexibility in their investments, by investing when they can for a duration longer than 4years, coz as it is always said, a low coiner is far more better than a no coiner...

Not having a stable source of income shouldn't be the reason for an investor to delay investing in bitcoin. However having a good financial flow will help our accumulation journey, while we may start buying without a stable income but we shouldn't neglect the impact of a stable source of income in bitcoin investment. An investor can be buying bitcoin with an unstable source of income and at the same time works on normalising his source of income.

[Emjay24]

After a cycle or two, the investor may feel that his Bitcoin holdings are starting to grow quite large. Some savers make the mistake of selling too much of their Bitcoin too quickly. They should have focused on buying continuously and learned from this and then saved patiently. Hopefully, investors will continue their Bitcoin journey, holding most of the time and reducing when necessary, but not everyone learns properly how important it is to hold on and not sell too quickly.

Those who sell because they think their bitcoin holding is becoming too big do not have accumulation target, a serious investor references only on their accumulation target and before he starts becoming comfortable, he should have piled up bitcoin until he is in overaccumulation stage and then even though he wants to take profits, he should make sure that he doesn't trim his portfolio below his accumulation target.

Selling too much bitcoin when you are still in your accumulation stage should be avoided unless situation are beyond control and have already drowned your emergency fund, then you are left with no other option than selling part of your stash, else it is a better approach to keep buying until you are well into overaccumulation stage and/or expended your holding period before thinking of selling or shaving profits.

[I_Anime]

After a cycle or two, the investor may feel that his Bitcoin holdings are starting to grow quite large. Some savers make the mistake of selling too much of their Bitcoin too quickly. They should have focused on buying continuously and learned from this and then saved patiently. Hopefully, investors will continue their Bitcoin journey, holding most of the time and reducing when necessary, but not everyone learns properly how important it is to hold on and not sell too quickly.

Those who sell because they think their bitcoin holding is becoming too big do not have accumulation target, a serious investor references only on their accumulation target and before he starts becoming comfortable, he should have piled up bitcoin until he is in overaccumulation stage and then even though he wants to take profits, he should make sure that he doesn't trim his portfolio below his accumulation target.

Selling too much bitcoin when you are still in your accumulation stage should be avoided unless situation are beyond control and have already drowned your emergency fund, then you are left with no other option than selling part of your stash, else it is a better approach to keep buying until you are well into overaccumulation stage and/or expended your holding period before thinking of selling or shaving profits.

Every bitcoin investor should have their accumulation goal.  I guess you are trying to say that those who think that their investment is big because of the price influence do not have accumulation goal (this would be the right way to put) which is actually true.

Let me explain, for instance Mr A is  accumulating $1000 weekly and his target goal is One bitcoin . So he kept accumulating at the price range of $50k which would give him 0.02 BTC weekly , so with time the price of BTC increased to $100k when his holding was around 0.5 BTC . So he was like his initial was to hit One BTC which was around the $50k range ( and now he have the $50k in BTC due to price increases but not one BTC ) so if he stop now it shows that he didn’t follow his goal , but if he continues to press on despite the increase in price to hit his one BTC goal , that show is an investor with goal .

[JayJuanGee]

After a cycle or two, the investor may feel that his Bitcoin holdings are starting to grow quite large. Some savers make the mistake of selling too much of their Bitcoin too quickly. They should have focused on buying continuously and learned from this and then saved patiently. Hopefully, investors will continue their Bitcoin journey, holding most of the time and reducing when necessary, but not everyone learns properly how important it is to hold on and not sell too quickly.

Those who sell because they think their bitcoin holding is becoming too big do not have accumulation target, a serious investor references only on their accumulation target and before he starts becoming comfortable, he should have piled up bitcoin until he is in overaccumulation stage and then even though he wants to take profits, he should make sure that he doesn't trim his portfolio below his accumulation target.

A lot of guys end up prematurely coming to a conclusion that they have enough or more than enough bitcoin.  So they either stop buying bitcoin or they sell... So it seems to me that it is helpful for guys who are already in the process of accumulating bitcoin to spend some time figuring out what their goal is and then hopefully not getting their goal wrong by concluding that bitcoin is a trade rather than an investment.. but yeah, guys don't necessarily know.. so they have to spend some time learning about bitcoin to realize that it is an investment rather than a trade.

Selling too much bitcoin when you are still in your accumulation stage should be avoided unless situation are beyond control and have already drowned your emergency fund, then you are left with no other option than selling part of your stash, else it is a better approach to keep buying until you are well into overaccumulation stage and/or expended your holding period before thinking of selling or shaving profits.

Usually it is better to avoid those situations where any bitcoin has to be sold too early, unless some emergency situation came about, and even guys who get into emergency situations, they sometimes will get themselves into emergency situations due to their own lack of adequate preparations.. .and even being sloppy about what should be their goal to protect their bitcoin investment.  it is hard to save guys from themselves if they are having trouble understanding the importance of getting their bitcoin up to a certain sustainable size before starting to draw from it, which tends to take a bit of time to get to such stage, even if they have been investing into it for years and years.

Each guy has to make his own cashflow management balancing choices, and surely some guys are going to end up making more mistakes than others.

After a cycle or two, the investor may feel that his Bitcoin holdings are starting to grow quite large. Some savers make the mistake of selling too much of their Bitcoin too quickly. They should have focused on buying continuously and learned from this and then saved patiently. Hopefully, investors will continue their Bitcoin journey, holding most of the time and reducing when necessary, but not everyone learns properly how important it is to hold on and not sell too quickly.

Those who sell because they think their bitcoin holding is becoming too big do not have accumulation target, a serious investor references only on their accumulation target and before he starts becoming comfortable, he should have piled up bitcoin until he is in overaccumulation stage and then even though he wants to take profits, he should make sure that he doesn't trim his portfolio below his accumulation target.

Selling too much bitcoin when you are still in your accumulation stage should be avoided unless situation are beyond control and have already drowned your emergency fund, then you are left with no other option than selling part of your stash, else it is a better approach to keep buying until you are well into overaccumulation stage and/or expended your holding period before thinking of selling or shaving profits.

Every bitcoin investor should have their accumulation goal.  I guess you are trying to say that those who think that their investment is big because of the price influence do not have accumulation goal (this would be the right way to put) which is actually true.

Let me explain, for instance Mr A is  accumulating $1000 weekly and his target goal is One bitcoin . So he kept accumulating at the price range of $50k which would give him 0.02 BTC weekly , so with time the price of BTC increased to $100k when his holding was around 0.5 BTC . So he was like his initial was to hit One BTC which was around the $50k range ( and now he have the $50k in BTC due to price increases but not one BTC ) so if he stop now it shows that he didn’t follow his goal , but if he continues to press on despite the increase in price to hit his one BTC goal , that show is an investor with goal .

I like your idea of an investor with a goal and the idea of the price changing while the goal is aiming to be achieved, since the goal was described in bitcoin, it seems a bit harder to achieve if the price is changing.. yet it does seem realistic if the guy might aim to accumulate bitcoin at anywhere between $500 and $1,500 per week with a goal of achieving 1 bitcoin in 1 year to 4 years.;..or a guy who invests as much as he can, and if they 1 BTC symbolizes a certain amount of wealth it seems a bit hard to imagine that it would be a high enough goal...

yet maybe it depends on what the guy might want to do with the 1 BTC after achieving it?  I would suggest that right now 1 BTC would allow a sustainable withdraw amount of $5,700 per year, which is $475 per month, and that would be without depleting the principle... Yet guys could plan to deplete the principle and employ a higher withdrawal rate.  So just getting to 1 BTC seems like an incomplete goal and even unrealistic in the scenario that you gave.. yet sure, with some additional context maybe we might want to consider how long it might take to get to 1 BTC (or some other quantity of bitcoin) and then why is that quantity of bitcoin choses (what are the plans of how to treat the bitcoin once the quantity is achieved).

[DubemIfedigbo001]

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Those who sell because they think their bitcoin holding is becoming too big do not have accumulation target, a serious investor references only on their accumulation target and before he starts becoming comfortable, he should have piled up bitcoin until he is in overaccumulation stage and then even though he wants to take profits, he should make sure that he doesn't trim his portfolio below his accumulation target.

Selling too much bitcoin when you are still in your accumulation stage should be avoided unless situation are beyond control and have already drowned your emergency fund, then you are left with no other option than selling part of your stash, else it is a better approach to keep buying until you are well into overaccumulation stage and/or expended your holding period before thinking of selling or shaving profits.

Every bitcoin investor should have their accumulation goal.  I guess you are trying to say that those who think that their investment is big because of the price influence do not have accumulation goal (this would be the right way to put) which is actually true.

Let me explain, for instance Mr A is  accumulating $1000 weekly and his target goal is One bitcoin . So he kept accumulating at the price range of $50k which would give him 0.02 BTC weekly , so with time the price of BTC increased to $100k when his holding was around 0.5 BTC . So he was like his initial was to hit One BTC which was around the $50k range ( and now he have the $50k in BTC due to price increases but not one BTC ) so if he stop now it shows that he didn’t follow his goal , but if he continues to press on despite the increase in price to hit his one BTC goal , that show is an investor with goal .

I like your idea of an investor with a goal and the idea of the price changing while the goal is aiming to be achieved, since the goal was described in bitcoin, it seems a bit harder to achieve if the price is changing.. yet it does seem realistic if the guy might aim to accumulate bitcoin at anywhere between $500 and $1,500 per week with a goal of achieving 1 bitcoin in 1 year to 4 years.;..or a guy who invests as much as he can, and if they 1 BTC symbolizes a certain amount of wealth it seems a bit hard to imagine that it would be a high enough goal...

yet maybe it depends on what the guy might want to do with the 1 BTC after achieving it?  I would suggest that right now 1 BTC would allow a sustainable withdraw amount of $5,700 per year, which is $475 per month, and that would be without depleting the principle... Yet guys could plan to deplete the principle and employ a higher withdrawal rate.  So just getting to 1 BTC seems like an incomplete goal and even unrealistic in the scenario that you gave.. yet sure, with some additional context maybe we might want to consider how long it might take to get to 1 BTC (or some other quantity of bitcoin) and then why is that quantity of bitcoin choses (what are the plans of how to treat the bitcoin once the quantity is achieved).

I like the idea too because the investor should be more focused on getting his desired quantity of Bitcoin rather than being carried away by the appreciated value of his stash and nursing a sense of fulfillment while he's still very much in the process. When an investor derails in such a manner, he's already retaining trading mindset and his focus would gradually shift from investing to trading his Bitcoin.

Such portfolio appreciation should serve as a morale boost to the investor that Bitcoin is right for him and is performing well and should drive him to keep stacking until he hits his desired target and possibly surpasses it.  The more sats he can accumulate, the more profits such investor is likely to enjoy in the long-run.

[Tinubu]

I think the problem there is...as we all know.. Bitcoin can make you a lot of money..but also it is very volatile (swings up and down very wildly)...and people need stable money for their everyday life...so looking at it,i think 'Financial security' comes first..that means applying some financial basics that will help you in future...like: opening a savings account... having a stable source of income and basic insurance like (health and car insurance)..when a person lacks these essentials.. Bitcoin becomes a gamble you wouldn't want to lose..

Once you've attained financial security,you can start adding up Bitcoin as a part of you 'wealth building'....so I think financial security enables your accumulation..not the other way around

[gracreavix]

Stable income is not strictly a criteria to accumulating Bitcoin, though it may very well be needed while folks are already in their accumulation phase.....Nothing is certain for sure, So I think that even if folks are not able to achieve a stable income along the way, they should still always ensure that their basic needs is first met and then they may very well apply flexibility in their investments, by investing when they can for a duration longer than 4years, coz as it is always said, a low coiner is far more better than a no coiner...

Not having a stable source of income shouldn't be the reason for an investor to delay investing in bitcoin. However having a good financial flow will help our accumulation journey, while we may start buying without a stable income but we shouldn't neglect the impact of a stable source of income in bitcoin investment. An investor can be buying bitcoin with an unstable source of income and at the same time works on normalising his source of income.

Sometimes I dey wonder if you guys really think this through from a realistic angle. Because I do not really understand how someone without a stable income is expected to keep up with his Bitcoin investment.

And right now, you are even saying two things at the same time. First, you’re saying not having a stable income should not stop someone from investing, and then you are saying again that a stable income helps the accumulation journey. That already tells a lot..

From my own point of view, I do not see how accumulation, especially using DCA can actually work properly without a steady income. Let us be realistic here. Take a freelancer, for example, someone who do graphics design. He does not get gigs consistently. Maybe he gets job once in a while, makes ₦25,000 (around $18) per job. Other times it’s ₦20,000 ($15). Sometimes once a month, sometimes twice, sometimes nothing at all.

How do you now expect that guy to be consistent with investment, with that kind of income?  That kind of income is not stable at all, and it is even hard to survive on it, not to talk of consistently buying Bitcoin. Normal and basic expenses alone will eat all the money up.
So if we are being realistic here, stable income is actually very important and needed to meet up with Bitcoin investment.

[JayJuanGee]

I think the problem there is...as we all know.. Bitcoin can make you a lot of money..but also it is very volatile (swings up and down very wildly)...and people need stable money for their everyday life...so looking at it,i think 'Financial security' comes first..that means applying some financial basics that will help you in future...like: opening a savings account... having a stable source of income and basic insurance like (health and car insurance)..when a person lacks these essentials.. Bitcoin becomes a gamble you wouldn't want to lose..

Once you've attained financial security,you can start adding up Bitcoin as a part of you 'wealth building'....so I think financial security enables your accumulation..not the other way around

You seem like you just want to stall getting started buying bitcoin.

There is no reason that your financial management practices cannot be strengthened while you are buying bitcoin, so there is no reason to delay in order to build up your finances first.

Of course, no one can invest without discretionary income, and surely an ability to learn and common sense helps too since folks with common sense will likely take measures to try to minimize the likelihood that they are losing money, so they start out slowly and do not necessarily increase the intensity (or aggressiveness) of their bitcoin accumulation until they become more comfortable with their cashflow management systems/practices and perhaps also gaining confidence in their knowledge of bitcoin as compared with other places that they might consider to place time, energy and value.

[Qhunman]

I think the problem there is...as we all know.. Bitcoin can make you a lot of money..but also it is very volatile (swings up and down very wildly)...and people need stable money for their everyday life...so looking at it,i think 'Financial security' comes first..that means applying some financial basics that will help you in future...like: opening a savings account... having a stable source of income and basic insurance like (health and car insurance)..when a person lacks these essentials.. Bitcoin becomes a gamble you wouldn't want to lose..

Once you've attained financial security,you can start adding up Bitcoin as a part of you 'wealth building'....so I think financial security enables your accumulation..not the other way around

It is very possible to become a millionaire or very rich by investing in bitcoin but it wouldn't happen over night. If you're thinking it would happens overnight then you're mistaken. Bitcoin investment is not a get rich quick scheme that turns people into millionaire over night. It is a long term investment and it would require you to invest for the long term before you can make significant profits. It isn't necessary that should know everything before getting started You only need discretionary income and the basic knowledge to get started. 

[durg0319]

There are obvious gambling platforms, there gambling can happen but people should try to handle Bitcoin not as gambling.

Treating or handling bitcoin investment as gambling is a misconception or misinterpretation and/or misunderstanding of what bitcoin investment really is and such delusional thinking or thoughts should be discarded.

When you gamble, your money is put on risk, you are not sure of anything, you may loose immediately, or you may also win, but there is a very high probability of loss since you are marely predicting, but when you invest in bitcoin, even though we have no guarantee of when the price might increase, but from history, the price of bitcoin always climbs if we buy and hodl for long. So there is hope that if we buy and HODL our investment for long term, we will make profits as the price of Bitcoin will eventually appreciate in the nearest future

‎It is really weird for someone to be tagging Bitcoin in relation with gambling. Yeah the price might jump up and down but it doesn't work with luck, it all about holding through the ride. People who gamble only depends on luck and it happens once in a blue moon. It those people who panic unnecessarily and sell when Bitcoin is in a bearish momentum are one who see it as a means of gambling.  Bitcoin has proven itself historically everytime, so it only those who can keeping accumulating and holding for long time that see the outcome of their efforts.