Yeah you are right. The smart thing newbies can do is build the habit of buying regularly rather than trying to figure out exactly when the price will be at its lowest. Trying to wait for a dip is like chasing a shadow, it keeps moving, and you will never catch it perfectly. In terms of aggressive buying, i will say newbies should avoid that for now, and just focus on their DCA, till they have accumulated enough and gained lots of experience along the way. Then lastly, it's not just about having your DCA funds , what matters is how consistent you are. Some people might decide to buy 3 weeks straight then lose focus and skip maybe another 3 weeks till God knows when , then they come back again and repeat the same step. Doing that won't put you in a good position.
Did it even cross your mind as to what people should do when their discretionary income are not coming consistently, because from what you said, you damn well ignored the existence of those kinds of people.
To be consistent is fine, but it is not a guaranteed reality for everyone, since not everybody get paid consistently. So what can this lots do in this case? They can invest flexible. And the flexibility is buying what they can buy and when they can buy whenever there is available discretionary income.
If you don't have a discretionary income take some time to start investing in Bitcoin. Wait or try to create a regular source of income. Discretionary income will flow from there. Without a consistent discretionary income flow there is a possibility of losing money on your investment. It is better to be a little flexible and try to make positive changes to your financial situation than to create losses or risks. To reduce the risk of investing in Bitcoin attach a long-term investment strategy through discretionary income.
You describe the motive to reduce risks in weird ways.
If guys are not quite sure about whether their discretionary income is enough in order to invest into bitcoin, then sure, there is nothing wrong with them waiting until they have enough funds to make sure that they have discretionary income that is enough so that they can invest into bitcoin.
So then once they choose to put a certain quantity into bitcoin, such as $100 per week or $10 per week or some other amount or some other time increment, they may well already enter into the investment by realizing that as long as they do not engage in leverage, then the most that they are going to lose is 100% of the amount that they put into bitcoin. Accordingly, they should be investing with money that they can afford to lose, and they are already locking that money up for 4-10 years or longer..so for many years, they don't really need to think about whether the money they invested into bitcoin is up, down or sideways. They just continue to invest from the money that they can afford to lose, which is their excessive discretionary funds... and so yeah, sometimes they need to try to increase their income and/or cut their expenses so that they can generate enough extra money that they can put into bitcoin every week or whatever other frequency that they are putting money into bitcoin.
Perhaps for some folks, the amounts that they are able to put into bitcoin seem to be quite small, but then if they keep buying every week (or however frequently they are able to accomplish) then after weeks and weeks, months and months and years and years, the amount that the put in adds up to being a quite a lot, and surely we don't know if the BTC price is going to go up or down during the time that the person had been investing, and so of course, there is hope that after many years of investing, perhaps even getting into 10 years or more, that overall the BTC value (price) had tended more towards up, rather than down or sideways, so then later down the road they are advantaged by having had invested in bitcoin as compared with if they had not invested in bitcoin.. even if the amounts invested seemed to be relatively low and maybe through the years, the amounts might also be able to be increased.
If you don't have a discretionary income take some time to start investing in Bitcoin. Wait or try to create a regular source of income. Discretionary income will flow from there. Without a consistent discretionary income flow there is a possibility of losing money on your investment. It is better to be a little flexible and try to make positive changes to your financial situation than to create losses or risks. To reduce the risk of investing in Bitcoin attach a long-term investment strategy through discretionary income.
I agree with you, if we don't have discretionary income it is important that we get a job because without securing one it would be difficult to have discretionary income to invest continuously. An investor need to have a job or a source of income very important because it would support his ongoing bitcoin accumulation and how consistent he accumulate would enable him reach over accumulation. My point is evennif we have discretionary income, we still need a source of income to figure out more discretionary income and support our bitcoin accumulation. . .
The prerequisite for Bitcoin investment is a source of income through which you can continue to invest continuously.
That is not true.
There is no need to have a source income in order to start investing into bitcoin. To start investing in bitcoin, all that you need is discretionary funds.
If you want to sustain your bitcoin investment, then you have to continue to have discretionary funds, and getting continued income would likely be helpful to make sure that your living expenses are continued to be able to be paid. As we likely realize that we continue to have expenses, so we have to pay for them, so if we plan to hold onto our bitcoin investment for 4-10 years or longer, we have to be able to pay for our expenses so that we won't have to tap into our bitcoin investment.
In other words, getting started investing in bitcoin is not the same as sustaining a bitcoin investment, even if their might be some intention that anyone who gets started is going to want to be able to sustain it.
The poor are discouraged from investing in Bitcoin and are advised to wait until they have a steady stream of discretionary income.
The poor frequently are struggling to make sure that they have discretionary funds on an ongoing and regular basis.... so yeah, even if poor people might have some discretionary funds, they might not have confidence about whether they have enough discretionary funds to get started investing into bitcoin, since if they invest into bitcoin, the investment creates an obligation to continue to generate at least enough income to pay expenses and perhaps even more income to make sure that back up funds are available too... So, even if a poor person starts to invest in bitcoin (maybe puts in $100 or $10), they might not be able to continue to add to the bitcoin investment, yet they still might want to put systems in place to prevent having to tap into the investment.. and they end up putting themselves into a better place if they are able to get steady income, even though they don't need to have steady income in order to get started investing into bitcoin.
By ignoring the fundamentals of long-term investing, you will be able to cover very little distance. It will often create risky situations because your main ingredient is missing. Spend time improving your financial situation and try to improve your luck through skill.
It may be difficult for a poor investor to reach the level of excess savings but not impossible if he can generate a steady stream of discretionary income. As well as increasing the flow of cash funds or the amount of funds to do aggressive DCA in the price fall season.
For sure there are advantages for investing and even being able to increase the level of bitcoin investing aggressiveness based on having steady cashflow that would also help to strengthen other aspects of cashflow management, such as the creation and maintenance of higher quantities of back up funds.
