Balancing Financial security and Bitcoin Accumulation

[Cgrexp]

Any investor without a job is as good as doing nothing cause with time such person would likely sell cheaper due to panic cayse of dip or to solve emergency situation, which is why it's advised that an investor should have an income from which they can constantly generate the discretionary funds to be able to invest in Bitcoin.

Yes, and not only to invest into bitcoin, but to be able to build out corresponding backup funds like emergency fund and reserve fund. Investing into bitcoin is good, but it is also important to build out your backup funds alongside your accumulating bitcoin so that your investment would not be tampered in the case you experience some emergencies or difficulties that you need money to solve. Your portfolio shouldn't be your fallback plan in the event of uncertainties but your backup funds. The backup funds is a very important aspect of your accumulation journey.

Bitcoin investment with DCA strategy second name na money for hand if you no get money for DCA to de buy and accumulate na im be say matter don caste be dat because na money you go take buy and sustain di strategy. Dis na why we no supposed to relax for our money matter, if you de struggle with your income wey be say you no get discretionary funds make you know say na time bomb you. If emergency happen you don turn to beggar be dat so no be only because of Bitcoin investment matter we suppose get multiple sources of income e de good for our peace of mind and security. To take care of your basic expenses and get remaining to put for discretionary funds no be small thing so try to add skills for your career and add get side hustle if possible so your income go de upgrade.

Discretionary funds and emergency funds are two different things. When a person starts investing in Bitcoin, there is no obligation for him to have an emergency fund ready at the beginning, but not having any kind of backup fund can be dangerous. If there is any kind of error in the cash flow calculation, it can create unnecessary risk in the investment. Suppose a person has $50 after meeting his basic expenses, in this case, if he wants to invest the entire amount, it is foolish because he has no money left. The person's weekly income is $120, out of which $70 is spent on essential expenses, the remaining $50 is the Discretionary Fund. So, if an unexpected expense comes, the investment may have to be broken to use this entire amount in investment. Therefore, he should use $25 in investment and deposit the remaining $25 as an emergency fund that will ensure his safety until the next payday. In this way, if it is possible to maintain regular investments and backup funds at the same time, it will create a safe and stable foundation for their long-term investment.

[Finebone]

Bitcoin investment with DCA strategy second name na money for hand if you no get money for DCA to de buy and accumulate na im be say matter don caste be dat because na money you go take buy and sustain di strategy. Dis na why we no supposed to relax for our money matter, if you de struggle with your income wey be say you no get discretionary funds make you know say na time bomb you. If emergency happen you don turn to beggar be dat so no be only because of Bitcoin investment matter we suppose get multiple sources of income e de good for our peace of mind and security.

I will first of all urge you to do more to write in English the more on this thread because sir jayjuangee usually comes to this thread, since he might not be conversant with our local pigin, and he may not understand what you are saying.

As for what you are saying that not having a discretionary income is a time bomb to your Bitcoin investment, I disagree with that because you might decide to put an halt to your Bitcoin accumulation if you don't have a discretionary income to continue your accumulation.
What I think is a time bomb in my own perspective is not having an emergency funds in place to safeguard your Bitcoin investment from any emergency that may arise later in the future.

[I_Anime]

Diversification is more like distracting yourself from the right direction, it’s one thing that gets people away from succeeding in bitcoin, what people do not realize is that time used in gathering shits put together in one direction which is bitcoin. they will be more successful than ever in life, even in other aspect of life you need focus to succeed.

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

You are  over stating the justification for diversification.

Sure there are some newbies who come to bitcoin and they are already wealthy or they have a variety of already existing investments.. so then maybe for those kinds of newbies, they might not need to sell any of their other investments to get into bitcoin, yet there might be some those newbies to bitcoin who would be better to reallocate some or all of their other investments into bitcoin.

The fact of the matter is that an overwhelming majority of people are relatively new to investing and so they do not need to diversify in other assets besides bitcoin and cash in order to get started in their bitcoin investment, including initially staying focused on building their bitcoin and strengthening their cashflow management systems and practices.

Perhaps once they get substantial funds in their bitcoin investment and their back up funds (such as a 6-12 months of their expenses), they might start to consider diversifying, and it may or may not be necessary to diversify, even at that point.  Each person can figure out the extent to which they might want to balance out their bitcoin and cash with some other asset or assets...

So your proclamation of "always good" to diversify is very misleading, since it is not true and it could well take a person quite a long time, such as a few years to build their bitcoin/cash investment to such a level that it is starting to make sense to diversify out and the diversification might be more related to the cash portion rather than the bitcoin portion, since probably bitcoin should be the priority, even though guys have the right to prioritize however they like, even if they end up prioritizing in dumb ways.

Diversifying when one haven’t gone far with his bitcoin investment, will only slow things down in both your bitcoin investment and whatever you choose to diversify in. Yes is true that we shouldn’t put all our eggs in one basket, but there’s time for that , like when you have reach your BTC accumulation goal or when you are so close in reaching your accumulation goal.

Many always talk about diversification, but at the end they diversify in shit coins , which is like a total waste of resources that you would have use top up your bitcoin . So if you are planning on diversifying (when you have gotten to the phase ) , you will have to research thoroughly before diversification. Because if you put all your egg in a bad basket you’ll lose it all .

[Saltysugar99]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

[Proty]

Diversification is more like distracting yourself from the right direction, it’s one thing that gets people away from succeeding in bitcoin, what people do not realize is that time used in gathering shits put together in one direction which is bitcoin. they will be more successful than ever in life, even in other aspect of life you need focus to succeed.

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

You are  over stating the justification for diversification.

Sure there are some newbies who come to bitcoin and they are already wealthy or they have a variety of already existing investments.. so then maybe for those kinds of newbies, they might not need to sell any of their other investments to get into bitcoin, yet there might be some those newbies to bitcoin who would be better to reallocate some or all of their other investments into bitcoin.

The fact of the matter is that an overwhelming majority of people are relatively new to investing and so they do not need to diversify in other assets besides bitcoin and cash in order to get started in their bitcoin investment, including initially staying focused on building their bitcoin and strengthening their cashflow management systems and practices.

Perhaps once they get substantial funds in their bitcoin investment and their back up funds (such as a 6-12 months of their expenses), they might start to consider diversifying, and it may or may not be necessary to diversify, even at that point.  Each person can figure out the extent to which they might want to balance out their bitcoin and cash with some other asset or assets...

So your proclamation of "always good" to diversify is very misleading, since it is not true and it could well take a person quite a long time, such as a few years to build their bitcoin/cash investment to such a level that it is starting to make sense to diversify out and the diversification might be more related to the cash portion rather than the bitcoin portion, since probably bitcoin should be the priority, even though guys have the right to prioritize however they like, even if they end up prioritizing in dumb ways.

Diversifying when one haven’t gone far with his bitcoin investment, will only slow things down in both your bitcoin investment and whatever you choose to diversify in. Yes is true that we shouldn’t put all our eggs in one basket, but there’s time for that , like when you have reach your BTC accumulation goal or when you are so close in reaching your accumulation goal.

Many always talk about diversification, but at the end they diversify in shit coins , which is like a total waste of resources that you would have use top up your bitcoin . So if you are planning on diversifying (when you have gotten to the phase ) , you will have to research thoroughly before diversification. Because if you put all your egg in a bad basket you’ll lose it all .

yes you right . It will be wrong for someone who is just starting investing in bitcoin to begin to think about diversification. This will definitely affect there level of consistency and focus on accumulating bitcoin.
People should only think about diversifying into other assets when there bitcoin holdings is in good shape that is they have accumulated reasonable amount of bitcoin.
Investing in bitcoin and thinking of diversifying into shitcoin, this is not diversification because bitcoin do correlate with most of this shitcoin. Therefore it won't be a wise thing to diversify into such assets that correlate with bitcoin.

[Brizi5000]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

People must not wait until they have enough backup funds before they can start investing in bitcoin. What is most important is for them to start buying bitcoin once they have their discretionary income ready to use for buying bitcoin and hodl as long term strategy. The most important thing is for them to check if they really have a discretionary income to start with and the moment their discretionary income is ready then they should start buying bitcoin immediately and not wait until they have any backup fund before they start buying and investing in bitcoin because even along the line as they are investing in bitcoin they can still be able to try to build their back up funds.

[cxtreenal]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

Don't complicate Bitcoin investment. Always be positive about investing because initially if you are mentally unstable about the use of emergency funds or capital, the investment can be hindered. Check whether you have a discretionary income initially. If you have $10-$20 discretionary income to cover your family expenses every week, start accumulation Bitcoin with that.

It is also recommended for Bitcoin investment that someone with a discretionary fund will also be eligible for investment. If you have a unstable income system and have some money left at the end of the week, you should start investing in Bitcoin before the price increases. You can start accumulating Bitcoin with zero backup. But in the future, you will need a backup fund to keep Bitcoin accumulation regular. Build a backup fund in addition to your weekly Bitcoin accumulation.

[Nightwatchmare]

Diversification is more like distracting yourself from the right direction, it’s one thing that gets people away from succeeding in bitcoin, what people do not realize is that time used in gathering shits put together in one direction which is bitcoin. they will be more successful than ever in life, even in other aspect of life you need focus to succeed.

It is always good we diversify our investments if we have the financial capacity to do it, and if we are diversifying our investments to real estate and commodities, we should do it when we have reached over accumulation or when we are very close to over accumulation in Bitcoin investment so that it will not distract us from Bitcoin investment since we will need to divide our discretionary income if we are investing in Bitcoin and real estate and commodities at the same time, and anyone investing in Bitcoin and shit coin at the same time is just distracting himself/herself and wasting the money he/she could have used to frontload his/her Bitcoin investment.

I don't see why you are emphasizing on this diversification like someone who is loosing interest in the bitcoin Holding process.  This is why it is very good to only invest with your Discretionary income. Hence you understand that your investments is for the future, you won't see any reason to think of diversification (with such meanness). When you are not very interested in quick money, you won't be thinking about diversification. You should plan your DCA approach in such a way that it will allow you not to have a sort of financial stress that will make you start regretting HODLing some funds in bitcoin. In summary, the success of your bitcoin HODLing is dependent on your cashflow management and financial discipline at all time.

Diversification will never make me lose interest in investing in something (Bitcoin) that is the best thing that has happened to the world in this 21st century. Since we were discussing about diversification, i was only trying to share my understanding about diversification so that some persons will actually know what diversification is all about. I do not advise investors to diversify their Bitcoin investment when they have not reached their over accumulation stage because i know it can deprive them of accumulating a reasonable amount of Bitcoin. Diversification is not all about quick profit. Diversification is just a backup investment in case your first choice investment is not doing quite well.

[Sim_card]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

Do you know how long it will take you to build an emergency funds of at least three months of your expenses, some it can take them up to a year or more. So are you trying to say that a no coiner should wait first and build  his backup funds before investing in bitcoin? That's not a good approach to start your bitcoin investment as a no coiner without any extra funds or savings on ground before deciding to invest in bitcoin.

It can take more than two circles or more for  you to accumulate bitcoin and reach a significant size, which means that you start your bitcoin investment right away and build your emergency funds simultaneously with your bitcoin investment to avoid delay because the price of bitcoin will be increasing and you will be missing out the opportunities in the market to take advantage of the price of bitcoin at that moment to build your bitcoin portfolio.

There's a time that you will build your emergency funds to three months of your expenses and stop building it but your bitcoin investment is a continuous accumulation with persistent and consistent overtime. One thing you should know is that emergency might come or not therefore, you don't need a backup funds without a bitcoin investment to backup.

It's not a criteria to have other asset before you can invest into bitcoin. You only need your discretionary income to invest into bitcoin even though, it's not regular just buy when it's available and hodli.

[DubemIfedigbo001]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It is not compulsory to build out your backup fund or have any asset backup before investing into bitcoin.
The only requirement is having a discretionary income available. If his income increases and he is sure of having discretionary fund, he can start up his investment into bitcoin since bitcoin itself is an asset by nature, then he can go on to build out his emergency fund and reserve fund alongside his buying and holding bitcoin.
As long as he understands that bitcoin is a volatile asset and is not being over aggressive in his investment by not using money meant for his expenses to buy, he will not necessarily have to panic if the price fluctuates since his livelihood and survival does not depend on the funds he invested into bitcoin.
 

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

This is why it is necessary to build out your emergency fund alongside your investing into bitcoin. If he has an emergency, he activates his emergency fund to solve the problem without tampering with his portfolio since he has been saving for such emergencies even before it ended up happening. Focusing on building out emergency fund before starting out your bitcoin investment may see you miss out on nice buying opportunities and it would be time wasting on your end. It is always better to build it out alongside your buying bitcoin.

[Hardyrobust]

It is not compulsory to build out your backup fund or have any asset backup before investing into bitcoin.
The only requirement is having a discretionary income available. If his income increases and he is sure of having discretionary fund, he can start up his investment into bitcoin since bitcoin itself is an asset by nature, then he can go on to build out his emergency fund and reserve fund alongside his buying and holding bitcoin.
As long as he understands that bitcoin is a volatile asset and is not being over aggressive in his investment by not using money meant for his expenses to buy, he will not necessarily have to panic if the price fluctuates since his livelihood and survival does not depend on the funds he invested into bitcoin.

yes not having a backup funds shouldn't stop an investor from starting to invest in bitcoin. An investor can be investing in bitcoin using discretionary income and then set aside some percentage of this discretionary income for backup funds.
Using money other than discretionary income can make an investor to sell at loss especially when the money that is used for buying bitcoin is.meant for expenses. When it's need arise the investor will have to temper with his bitcoin investment regardless of whether they are in profit or not.

[Decimetre]

It is not compulsory to build out your backup fund or have any asset backup before investing into bitcoin.
The only requirement is having a discretionary income available. If his income increases and he is sure of having discretionary fund, he can start up his investment into bitcoin since bitcoin itself is an asset by nature, then he can go on to build out his emergency fund and reserve fund alongside his buying and holding bitcoin.
As long as he understands that bitcoin is a volatile asset and is not being over aggressive in his investment by not using money meant for his expenses to buy, he will not necessarily have to panic if the price fluctuates since his livelihood and survival does not depend on the funds he invested into bitcoin.

yes not having a backup funds shouldn't stop an investor from starting to invest in bitcoin. An investor can be investing in bitcoin using discretionary income and then set aside some percentage of this discretionary income for backup funds.
Using money other than discretionary income can make an investor to sell at loss especially when the money that is used for buying bitcoin is.meant for expenses. When it's need arise the investor will have to temper with his bitcoin investment regardless of whether they are in profit or not.

Right from the time of your initial investment, your backup funds are also simultaneously accumulated alongside your emergency funds. Bitcoin investment can be very stressful if you invest wrongly. This is why for everyone who is going into bitcoin investment, you have to plan for your back up funds and emergency funds too.

Your backup funds and emergency funds will determine how successful you will be in bitcoin. An investor should not be comfortable with investing bitcoin when he doesn't have a plan for the unknown occurrence. So I agree with you partially and I want to also add that a long-term investment cannot be successful in the absence of emergency funds and back up funds. Even if you don't have a reserve fund, make sure you have your emergency funds and back up funds.

[Xackie]

This is why it is necessary to build out your emergency fund alongside your investing into bitcoin. If he has an emergency, he activates his emergency fund to solve the problem without tampering with his portfolio since he has been saving for such emergencies even before it ended up happening. Focusing on building out emergency fund before starting out your bitcoin investment may see you miss out on nice buying opportunities and it would be time wasting on your end. It is always better to build it out alongside your buying bitcoin.

Its a very good approach to build an emergency whilst investing. Because if you say you want to wait till you build your emergency funds first , you will just keep wasting your precious time and delay. Life happens fast and if you don't have a backup or emergency funds, you might be forced to sell prematurely. That alone can disrupt your investments long term plan , and if you are selling little by little, by that time you would have eaten up your entire Bitcoin. Doing both together is okay, you will be protected while growing your position over time.

[Futurexxx]

. Diversification is not all about quick profit. Diversification is just a backup investment in case your first choice investment is not doing quite well.

I don't think your explained it in the right way, in my own understanding of diversification, I think that the purpose of diversification is for security, by spreading your risk across other assets, so that if anything happens to one of your investment, you will certainly not lose everything because your money was spread into several asset other than a single asset, so your explanation is not that bad, but for a better understanding for newbies, that's why I threw more light on it.
But pertaining to bitcoin investment, diversification is actually wrong when you haven't gotten a reasonable stash of Bitcoin in your wallet, because spread your small discretionary income across several asset will only lead to you losing concentration.

[Obulis]

Investing in cryptocurrencies is the most risky and like gambling.

This is to scare away newbies who will want to invest in Bitcoin not to invest again most expecially those who has experience the bad side of shitcoins because saying that investing in cryptocurrencies is like gambling you also include bitcoin because bitcoin is part of cryptocurrency so the best way is to differentiate them by been specific about the particular coin that is most risky and gambling to invest on if it's bitcoin you simply say bitcoin if it's also shitcoins be specific and mention shitcoin and not cryptocurrency because that term cryptocurrency contains many shirty coin in it.

Gost Ms didn't really pay attention to what he or she has said. It is obviously unreasonable to classify Investment on Bitcoin as gambling! Without doubt, there's trading of Bitcoin is a direct replicate of gambling but investment in Bitcoin can't be considered gambling except other forms of investments like forex, stock, real estate etc that has even been before Bitcoin are also gambling. This is because Bitcoin investment has all the attributes of investment like the other accepted investment ventures.

[Sonia_123]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

Are you now saying that we must have a backup funds/assets in our possession before investing? that's not through, with zero backup we can start investing in bitcoin in as much as you build your backup alongside your bitcoin investment within the next 3-6 months and that is why, you need to figure out the how much funds you will be investing and keeping as a backup funds, because time waits for no one, the market can increase at any point in time.

Backup funds means money in account not physical properties (assets) although they maybe included, but for bitcoin investment we mean available cash at hand.

For example if the price of bitcoin dips below the current price you are buying and you needed to buy more since the opportunity has come for you to aggressively increase portfolio you instantly use the money in your account to purchase your needed coins or is that when you will start looking for who will buy those landed assets of yours and before you know it, the price has even gone higher above the initial bench mark, what will you do, therefore it is better you have your backup funds in your saving account .

[PhilosopherKing]

Bitcoin investment with DCA strategy second name na money for hand if you no get money for DCA to de buy and accumulate na im be say matter don caste be dat because na money you go take buy and sustain di strategy. Dis na why we no supposed to relax for our money matter, if you de struggle with your income wey be say you no get discretionary funds make you know say na time bomb you. If emergency happen you don turn to beggar be dat so no be only because of Bitcoin investment matter we suppose get multiple sources of income e de good for our peace of mind and security.

I will first of all urge you to do more to write in English the more on this thread because sir jayjuangee usually comes to this thread, since he might not be conversant with our local pigin, and he may not understand what you are saying.

Pidgin is a part of us. This is a Local Board pidgins are allowed. Kelward pidgin is comprehensible even for Mister Jay.

Your backup funds and emergency funds will determine how successful you will be in bitcoin.

You said backup and emergency funds like they are in two different category, and someone could easily get confused and think that there is a difference amongst them.

For lucidity sake, Emergency fund is a division that falls under backup funds.

Backup money is splitted to three- Reserve funds, Emergency funds and float.

[Nightwatchmare]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

People must not wait until they have enough backup funds before they can start investing in bitcoin. What is most important is for them to start buying bitcoin once they have their discretionary income ready to use for buying bitcoin and hodl as long term strategy. The most important thing is for them to check if they really have a discretionary income to start with and the moment their discretionary income is ready then they should start buying bitcoin immediately and not wait until they have any backup fund before they start buying and investing in bitcoin because even along the line as they are investing in bitcoin they can still be able to try to build their back up funds.

Since people do not know when they will have enough backup funds, i think people should never wait until they have enough backup funds before they can invest in Bitcoin. What people should be worry about Bitcoin investment is if they will have discretionary income that is needed for them to invest in Bitcoin. They can start accumulating Bitcoin right away if their discretionary income is available and build up their backup funds during their investing process so that they can be able to take care of any emergency that happens.

[Proty]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

People must not wait until they have enough backup funds before they can start investing in bitcoin. What is most important is for them to start buying bitcoin once they have their discretionary income ready to use for buying bitcoin and hodl as long term strategy. The most important thing is for them to check if they really have a discretionary income to start with and the moment their discretionary income is ready then they should start buying bitcoin immediately and not wait until they have any backup fund before they start buying and investing in bitcoin because even along the line as they are investing in bitcoin they can still be able to try to build their back up funds.

Since people do not know when they will have enough backup funds, i think people should never wait until they have enough backup funds before they can invest in Bitcoin. What people should be worry about Bitcoin investment is if they will have discretionary income that is needed for them to invest in Bitcoin. They can start accumulating Bitcoin right away if their discretionary income is available and build up their backup funds during their investing process so that they can be able to take care of any emergency that happens.

It is not backup funds that should be used for bitcoin investment but rather it is discretionary income that should be used for accumulating bitcoin. Not having a backup funds should not be a reason for not buying bitcoin. Moreover some percentage of discretionary income can be set aside to act as backup funds while the remaining percentage can be used to buy bitcoin. Not having backup funds shouldn't be the reason why anyone should wait before they start buying bitcoin.

[liasbaa]

It is not right to invest without absolutely 0 backup. Backup does not mean that there will be money in the savings account. If you have some separate assets, you can be mentally stable in the case of long-term investment. You can imagine like  suppose a person has a house for living ,he has no assets outside of it, no investments. Suddenly, as his income increases, his discretionary income is created, then if he invests in Bitcoin along with creating a backup fund. In this case, it will be more difficult who starts investing without any assets to remain mentally stable over the long term when the price of Bitcoin fluctuates.

It will take a long time to build his back-up fund, but even if he invests in Bitcoin at that time, he will invest a lot according to his income . Then, if a sudden emergency arises or the price of Bitcoin drops, he will panic. If you do not have any other assets other than a house or place of residence before investing in Bitcoin, you should focus on building it.

People must not wait until they have enough backup funds before they can start investing in bitcoin. What is most important is for them to start buying bitcoin once they have their discretionary income ready to use for buying bitcoin and hodl as long term strategy. The most important thing is for them to check if they really have a discretionary income to start with and the moment their discretionary income is ready then they should start buying bitcoin immediately and not wait until they have any backup fund before they start buying and investing in bitcoin because even along the line as they are investing in bitcoin they can still be able to try to build their back up funds.

Since people do not know when they will have enough backup funds, i think people should never wait until they have enough backup funds before they can invest in Bitcoin. What people should be worry about Bitcoin investment is if they will have discretionary income that is needed for them to invest in Bitcoin. They can start accumulating Bitcoin right away if their discretionary income is available and build up their backup funds during their investing process so that they can be able to take care of any emergency that happens.

Some investors may be confused about the availability of backup funds before investing in Bitcoin. But the point is that you will not start accumulation Bitcoin with the entire fund you have. You should never use the entire fund you have at the time of investment. Some advise having sufficient funds from the beginning, but since Bitcoin is a volatile asset the possibility of a price increase at any time is very high. You should start investing in Bitcoin before the price increases significantly. If you do not have a backup fund available, start accumulate Bitcoin and gradually saving a backup fund. The purpose of this fund is to continue long term Bitcoin accumulation without withdrawing holdings in case of emergency during the Bitcoin investment period.