Balancing Financial security and Bitcoin Accumulation

[Umulala-alala]

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. 

You are passing a misleading information by saying that it is very possible to become very rich by investing in BTC saying this is also as saying that we are guaranteed to become successful or very rich even we invest in bitcoin, or have just forgotten so soon that bitcoin is a volatile asset? We do not know what will become of bitcoin tomorrow BTC is two sided dip and rise we that is investing in bitcoin for long time we can either loss or gain but we hope it profit us tomorrow and BTC not guaranteed us successful is the main point we are using our discretionary income to invest in bitcoin what ever it be tomorrow we take am like that.

[Crytohillss]

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.

I don't think it is about stalling or choosing one over the other it's really about order and proportion strengthening your financial habits while buying bitcoin sound good in the theory but in practice a lot of people skip the basics and end up overexposed , that's where problems start. Bitcoin makes the most sense when it's bought from a position of stability even if that stability is modest having emergency savings predictable cash flow an d basic insurance doesn't mean you wait forever it just means you are not forced to sell at the worst time or treat bitcoin like lifeline instead of an investment.

[Shiny_L@dy]

‎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.

Control and strategy make the difference between gambling and investing. Those who buy on FOMO and sell in panic are acting on price or betting on price fluctuations. This behavior turns investing into gambling. Bitcoin has proven itself in the past, but if I only think about the fact that it has increased in the past and will increase again and invest based on that, going beyond my financial capacity, without any risk consideration and planning, then it will not be an investment based on analysis but a decision based on speculation. Which is close to gambling. The real issue is how people are participating in it. And the behavior of the investor will make the difference between gambling and investing..

✨

[Obulis]

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.

As it stands now, it's an excuse to say that not having a stable source of income is the reason why they haven't invested into Bitcoin. DCA is there to do what it knows best to do as the amount must not be fixed and consistency is also personal.Taking advantage of buying Bitcoin without is a no excuse measure which is nice.

[Eze BTC]

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. 

You are passing a misleading information by saying that it is very possible to become very rich by investing in BTC saying this is also as saying that we are guaranteed to become successful or very rich even we invest in bitcoin, or have just forgotten so soon that bitcoin is a volatile asset? We do not know what will become of bitcoin tomorrow BTC is two sided dip and rise we that is investing in bitcoin for long time we can either loss or gain but we hope it profit us tomorrow and BTC not guaranteed us successful is the main point we are using our discretionary income to invest in bitcoin what ever it be tomorrow we take am like that.

I don't think it's actually a misleading information though. Him saying it's very possible to be rich off bitcoin is not really misleading. Many people have made it big from bitcoin and we call all attest to that. Where his statement would have been misleading is if he had said it's certain to be rich through bitcoin. They're bot different things. Bitcoin has made lots of people rich.

The only advice is that one should learn to invest wisely in bitcoin like using only discretionary income. No one should put all income into it.

[9ja Amaka]

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..

When you think of Bitcoin as a means of making a lot of money, you lose the sole purpose of accumulating bitcoin. Bitcoin can only store value now, not change a poor man to become rich over night. What you put in is what will determine the level of profit you will get in the nearest future. That means, if you invest less than $1k you will have less. But if you have up to 3 to 4 Bitcoins, the profit in years to come will be genuinely substantial.

Instead of saving, while not emergency funds. Having emergency funds is one basic thing needed to do as a bitcoin investor, that is if you don't have any. You can also, start your accumulation at the same time, set goals for emergency funds too.

[PhilosopherKing]

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.

As it stands now, it's an excuse to say that not having a stable source of income is the reason why they haven't invested into Bitcoin. DCA is there to do what it knows best to do as the amount must not be fixed and consistency is also personal.Taking advantage of buying Bitcoin without is a no excuse measure which is nice.

DCA cannot replace your finances I know that DCA is a good strategy, it can be useful for those that don't having a stable source of income, but let's don't bullshit ourselves to think that income doesn't matter. It does matter, Big time.  Income matter, so even with DCA, over time you still have to get your finances in order and aim at having a stable finance, so as to have a consistent cashflow.

When you finances is not stable your DCA will now be an on and off buying will can mess up your plan, fuck uo your progress and even push you investment timeline further and further away. If you cash flow is bad even the DCA approach cannot magically fix it, this makes it important you take action to fix your cash flow while investing, and not just sitting down to hoping for the best

[Xackie]

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.

I don't think it is about stalling or choosing one over the other it's really about order and proportion strengthening your financial habits while buying bitcoin sound good in the theory but in practice a lot of people skip the basics and end up overexposed , that's where problems start. Bitcoin makes the most sense when it's bought from a position of stability even if that stability is modest having emergency savings predictable cash flow an d basic insurance doesn't mean you wait forever it just means you are not forced to sell at the worst time or treat bitcoin like lifeline instead of an investment.

Trouble starts when someone rush into bitcoin with big hope of getting a big pot of cash quickly. What they don't know is that the market doesn't care about your money or how you have instead it test your mindset. When your basics are handled, you’re calmer and less reactive. Maintaining that calmness matter more than timing the market or having a fancy plan. Bitcoin isn't running no where, it's those bad decisions that someone makes under pressure that hurts fast. Moving step by step keeps you in control instead of letting price moves control you.

[Obulis]

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.

As it stands now, it's an excuse to say that not having a stable source of income is the reason why they haven't invested into Bitcoin. DCA is there to do what it knows best to do as the amount must not be fixed and consistency is also personal.Taking advantage of buying Bitcoin without is a no excuse measure which is nice.

DCA cannot replace your finances I know that DCA is a good strategy, it can be useful for those that don't having a stable source of income, but let's don't bullshit ourselves to think that income doesn't matter. It does matter, Big time.  Income matter, so even with DCA, over time you still have to get your finances in order and aim at having a stable finance, so as to have a consistent cashflow.

When you finances is not stable your DCA will now be an on and off buying will can mess up your plan, fuck uo your progress and even push you investment timeline further and further away. If you cash flow is bad even the DCA approach cannot magically fix it, this makes it important you take action to fix your cash flow while investing, and not just sitting down to hoping for the best

Philosopherking, don't get things twisted. No one has said that DCA will replace someones finances, what has been pointed is the obvious advantages of DCA strategy that make a guy with unstable income to still benefit from Bitcoin investment and possibility of fixing ones income to a stable state while already building your Bitcoin portfolio instead of waiting or giving excuse that unstable income is the reason why you don't have Bitcoin investment, when it's possible even with unstable income.

Definitely, when there's unstable income, your DCA strategy takes its own shape in terms of amount and consistency. But then it doesn't really matter how much and how consistency you are in your DCA. The most important thing is that you are building your portfolio and grooming from being a newbie who has basic knowledge to a higher level knowledge of Bitcoin.

[Mr_Brilliant$]

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.

You know, I normally hear Bitcoin been called a gamble around ignorant people and people who have not just gotten the right information about Bitcoin…. yes like you said, the price moves up and down, but that does not make it base on luck..  Bitcoin is not guesswork at all..  Gambling is about hoping for luck, while Bitcoin is just understanding what you are holding to me and staying through the ups and downs, that makes people see it as gambling..

Most people who call it gambling, are the people panicking during bearish periods and selling out of fear… they are just reacting with emotion, that is not investing to me.. Anyone who has taken time to study Bitcoin and its history  would not say that..

[Hardyrobust]

Philosopherking, don't get things twisted. No one has said that DCA will replace someones finances, what has been pointed is the obvious advantages of DCA strategy that make a guy with unstable income to still benefit from Bitcoin investment and possibility of fixing ones income to a stable state while already building your Bitcoin portfolio instead of waiting or giving excuse that unstable income is the reason why you don't have Bitcoin investment, when it's possible even with unstable income.

Definitely, when there's unstable income, your DCA strategy takes its own shape in terms of amount and consistency. But then it doesn't really matter how much and how consistency you are in your DCA. The most important thing is that you are building your portfolio and grooming from being a newbie who has basic knowledge to a higher level knowledge of Bitcoin.

yes you are right here , he failed to grasp the point I was actually trying to communicate. There is no way DCA strategy will replace ones finance.  There are people was has built the mindset that not having a stable source of income will actually stop then from buying bitcoin but this wrong. Anyone can start buying bitcoin as long they have discretionary income even if they don't have a stable source of income. They can start with the DCA strategy and buy only when there is available discretionary income to buy with. Then work towards stabilising there source of income.

[Tonimez]

They can start with the DCA strategy and buy only when there is available discretionary income to buy with. Then work towards stabilising there source of income.

We all believe that a person does not need to have a stable income to be able to invest in bitcoin. As a matter of fact, an investor can invest in bitcoin at anytime he has an available discretionary income. This is very practicable as long as a person is disciplined to understand good financial management. However, what I don't seem to believe is that someone who doesn't have a stable source of income can invest by DCA strategy because from my knowledge (gathered from the forum and texts), a DCA approach has to do with a person picking a giving periodic interval to invest a given percentage of his Discretionary income into bitcoin. DCA approach is a product of a nearly fixed rate of investment ( Since such person knows when next to expect an income and the probable amount to expect). This is DCA strategy!

When a person does not have a stable source of income and earns randomly, I think all he can do is to focus on investing in bitcoin with whatever amounts left as discretionary funds each time he gets an income: this is irregular and can't be planned with (hence I won't refer to it as a DCA approach). In an Ideal DCA approach, an investor has an accumulation target which would be both time bound and amount bound (Because he knows his income period and amount). But in a situation when an investor does not have a stable source of income, he can own a bitcoin but may not have a workable DCA strategy: hence, no real accumulation target. This is why I won't agree with you on the point that someone who does not have a stable source of income can handle a working DCA strategy. If he insists in maintaining a given DCA approach, he may end up borrowing money to invest when he has no money to invest at his set investment days and this can easily destroy his entire bitcoin portfolio.

[GIF-JOBS]

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..

When you think of Bitcoin as a means of making a lot of money, you lose the sole purpose of accumulating bitcoin. Bitcoin can only store value now, not change a poor man to become rich over night. What you put in is what will determine the level of profit you will get in the nearest future. That means, if you invest less than $1k you will have less. But if you have up to 3 to 4 Bitcoins, the profit in years to come will be genuinely substantial.

Instead of saving, while not emergency funds. Having emergency funds is one basic thing needed to do as a bitcoin investor, that is if you don't have any. You can also, start your accumulation at the same time, set goals for emergency funds too.

You have to understand Bitcoin investment, and replace your thinking with the right perspective, here you definitely cannot invest with the intention of getting rich overnight, this is the wrong mentality. The main thing is to understand the basics, here the higher your portfolio, the better your profit will be in the long term, here we certainly cannot expect significant success from investing a little.
You have to invest for the long term,
invest in small amounts continuously,
hold for the long term,
control greed and emotion,
avoid selling suddenly,
determine why you should continue until that goal is met through the DCA strategy. When you continue to buy and hold Bitcoin for two cycles continuously, then you will have a much better chance of success. And at the same time, we can never have any weakness in its security because this weakness can cause us to fail in the middle, and if that happens, we may face unexpected big losses, so we must also be careful about security.

[Bigjoe33]

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

What's really your point, financial security or financial stability before you start your investment? And for the records, you don't really need all of that you have mentioned before you start your Bitcoin investment, you don't need a financial security as you mentioned above, setting up a savings account or what have you, No! You don't even need to attain a financial stability level before you start up your investment journey. All what an investor needs to start up his investment is the basic knowledge of figuring out what his discretionary income is. If this is donw, then he can begin accumulating Bitcoin using the DCA strategy, and with time can try to balance his income flow and/or management/allocation.

If an investor go by all you stated above, then such an investor may not really start his investment since he might rightly figure out when he might save up enough money or attain financial security or stability as you mentioned

[PNons]

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.

Bitcoin cannot be gambling, it is the manner that you treat Bitcoin that makes it resemble gambling. Take a instance, to trade Bitcoin is synonymous with gambling. Trading Bitcoin is risky, profits may not come out from it in any way. Gambling is also risky, profit may not come out from it. This is why to trade Bitcoin is like gambling, both deals with chance or probability.This is one of the thousands of reason to avoid trading Bitcoin and invest in Bitcoin for a long period. To invest is to keep Bitcoin for not less than four years.

[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.

I don't think it is about stalling or choosing one over the other it's really about order and proportion strengthening your financial habits while buying bitcoin sound good in the theory but in practice a lot of people skip the basics and end up overexposed

For newbies it is better to get started buying bitcoin right away and don't wait and don't stall.

Get started and figure out an amount so that you don't overdo it while you are learning more about bitcoin, whether that is $100 per week, $10 per week or some other amount that allows for expenses to be covered.

If you are new, you are wasting your time waiting for dips that might not happen, especiallly if you have already determined yourself to have discretionary funds.  Also, I will presume that 97.5% or more of people have common senses, even though they still may need to learn about bitcoin, bitcoin investing and cashflow management.

, that's where problems start. Bitcoin makes the most sense when it's bought from a position of stability even if that stability is modest having emergency savings predictable cash flow an d basic insurance doesn't mean you wait forever it just means you are not forced to sell at the worst time or treat bitcoin like lifeline instead of an investment.

Well, if you cannot figure out whether you have discretionary funds or not, then yeah, it is better to wait.

Otherwise get started as soon as possible and don't worry about whether the price is high, low or stable... It does not matter, especially for beginners.

An overwhelming majority of people are going to need 4-10  years or longer to build up a decent bitcoin stash, so I see no reason to be fucking around trying to figure out the price, when the main thing is just making sure that they have discretionary funds, and if they have discretionary funds, then they can get started investing right away... even if they start with merely $10.

So, yes, if you are a newbie to bitcoin and you have $10, you should get started right away rather than fucking around stalling waiting for a better price when that part is irrelevant. 

The most relevant part for newbie no coiners is that they don't have any bitcoin, and the way to get bitcoin is to buy some, not to wait or stall.

Now if you are coming to bitcoin and you have other funds that you can put into bitcoin then you may have the luxury of waiting with some of your funds, especially if you had already bought some right away with some of your available funds. 

People with more funds have more options, yet it still would not justify their waiting and not buying some bitcoin right away, especially if they are a no coiner or a low coiner (and most people are low coiners, whether they know it or not).

[PNons]

The west african time tell us say we don officially enter the new year, am so happy that we all have made it this far. This is a New Year, and also a time to start something good and rewarding, if you haven't. For those people that have been watching Bitcoin since 2020, 2021, 2022, 2023, 2024, and even 2025, and you still dey plan or you dey afraid to started then this question is for you: If not 2026, then when?

bitcoin do not guarantee quick profit , and it do not need all the money in your bank account for you to start. It only needs you to make the decision to start buying and also consistentcy to continue. You may think that you smart because you are waiting for the price to be lowered than it already is before you can buy. But you should only know that the market does not move to satisfy our expectations, the market is highly volatile and unpredictable.

This new year na time to reset your mindset and drop any kind of fear and start consistently investing bitcoin using discretionary income. Again, happy new year to all of us. Just try as much as possible to stop procrastinating and start buying.

Some people are not interested in crypto investments. They know very well about it, but their very not interested in crypto as it's a high volatility market.. I've even come across one of Nigerian comedy or skit maker making fund of crypto currency terms like buy the dip and keep dipping.. these kinds of psychology is wrong and as a big figure, they have a lot of people looking up to them and do what ever they tell them online.

All the people making fun of buying the dip and the others are heavily invested in Bitcoin, not everything that we see in the Internet that we should be believing. In a time as this as Bitcoin price is going down, it is good to buy the number of Bitcoin as you can and keep for a long period. ,No delay

[gracreavix]

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.

As it stands now, it's an excuse to say that not having a stable source of income is the reason why they haven't invested into Bitcoin. DCA is there to do what it knows best to do as the amount must not be fixed and consistency is also personal.Taking advantage of buying Bitcoin without is a no excuse measure which is nice.

I get you,  there is really kidda no perfect excuse to not be investing in Bitcoin. It is true that DCA was designed to be flexible, the amount must not have to be fixed. Anyone can technically start, even with very little.

But what I feel is that, if we are being realistic, it is not always that simple. When someone does not have a stable income and is constantly worrying about survival, investing, even small amounts is really and very stressful, I won’t lie. I’ve been there before. The truth is for some people in that situation, Bitcoin is not the problem, life pressure and their bill is.

[KawasakiNinja1_]

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.

As it stands now, it's an excuse to say that not having a stable source of income is the reason why they haven't invested into Bitcoin. DCA is there to do what it knows best to do as the amount must not be fixed and consistency is also personal.Taking advantage of buying Bitcoin without is a no excuse measure which is nice.

I get you,  there is really kidda no perfect excuse to not be investing in Bitcoin. It is true that DCA was designed to be flexible, the amount must not have to be fixed. Anyone can technically start, even with very little.

But what I feel is that, if we are being realistic, it is not always that simple. When someone does not have a stable income and is constantly worrying about survival, investing, even small amounts is really and very stressful, I won’t lie. I’ve been there before. The truth is for some people in that situation, Bitcoin is not the problem, life pressure and their bill is.

Indeed Bitcoin investment is for everyone, for people of all professions and classes, we have heard this but if any of our Nigerian citizens have to worry about life, that is, about living, then it is better not to invest in them, however, it is true that if we have $5 in Naira (which is the minimum amount) without monthly expenses, we are still eligible for investment.

Actually, no matter how high the price of Bitcoin is, not everyone will have to buy 1 Bitcoin to start investing or refrain from investing until they have accumulated this amount of money.You should buy whenever you have the opportunity, no matter how low or high the purchase amount is,The main point is that since DCA is involved, it makes sense for us to start by giving a small amount of money.

[AuchanX]

They can start with the DCA strategy and buy only when there is available discretionary income to buy with. Then work towards stabilising there source of income.

We all believe that a person does not need to have a stable income to be able to invest in bitcoin. As a matter of fact, an investor can invest in bitcoin at anytime he has an available discretionary income. This is very practicable as long as a person is disciplined to understand good financial management. However, what I don't seem to believe is that someone who doesn't have a stable source of income can invest by DCA strategy because from my knowledge (gathered from the forum and texts), a DCA approach has to do with a person picking a giving periodic interval to invest a given percentage of his Discretionary income into bitcoin. DCA approach is a product of a nearly fixed rate of investment ( Since such person knows when next to expect an income and the probable amount to expect). This is DCA strategy!

When a person does not have a stable source of income and earns randomly, I think all he can do is to focus on investing in bitcoin with whatever amounts left as discretionary funds each time he gets an income: this is irregular and can't be planned with (hence I won't refer to it as a DCA approach). In an Ideal DCA approach, an investor has an accumulation target which would be both time bound and amount bound (Because he knows his income period and amount). But in a situation when an investor does not have a stable source of income, he can own a bitcoin but may not have a workable DCA strategy: hence, no real accumulation target. This is why I won't agree with you on the point that someone who does not have a stable source of income can handle a working DCA strategy. If he insists in maintaining a given DCA approach, he may end up borrowing money to invest when he has no money to invest at his set investment days and this can easily destroy his entire bitcoin portfolio.

I understand your reasoning. In fact, some people define DCA more strictly. It would be hard for me to convince you....However,The real question here is,is DCA impossible if you have irregular income?
Of course it is possible.

You mentioned that you learned from forums and various writings that DCA means that a person invests a certain percentage of their discretionary income in Bitcoin on a regular basis at fixed intervals. This is absolutely true. However, there is another reality here that most people miss.if your income is irregular,You can manually customize your DCA.For example,,let's say your plan is to DCA $25 per week consistently but your income comes once every 3 months.So 3 months is 12 weeks, in that case the total investment amount would be $300. Now if you want, you can invest $300 in one go as a 12 week DCA on the day you receive the cash.  Or you can manually reduce the investment amount to suit your needs. In my opinion, this does not break the continuity of doing weekly or monthly DCA, it just changes the frequency. And that way you can follow the DCA strategy if you want.

I completely agree with the caution about maintaining a fixed DCA on your loans. In my opinion, one cannot continue the textbook perfect DCA without a steady income. But one can definitely follow a DCA based savings strategy if he wants.