Balancing Financial security and Bitcoin Accumulation

[Proty]

Well the possibility to get the building of the fast fund and accumulate Bitcoin is the same way for you to have source income and stay patient to pay. Something I like to get is the best way to avoid using the emergency money to buy Bitcoin in the work market dip. People who are willingly tempted to do  that main purpose to emergency money is to complete the process expenses up the investment for increased.

Fight the urge to use your emergency funds to buy bitcoin because you are still going to see the impact later on , and it won’t be a good one using money you can’t hold for long will definitely lead to you selling too early , seeing your holding as your emergency funds , instead of using your emergency funds to buy bitcoin just maintain your slow pace accumulation and make sure you are doing it right than trying to rush the process to the point of being too aggressive.

Emergency funds isn't meant for bitcoin accumulation and anyone that is thinking in the direction of using there emergency funds for buying bitcoin isn't doing the right thing. They are definitely not protecting there investment because they will end up selling there bitcoin whenever they are hit with an emergency and as we know, no one can predict when an emergency will occur. People should only invest what they can be able to lock away for years into bitcoin and not money they will need soon.
Morealso, emergency funds is essential for all long term investors to be able to hold bitcoin for a long term and it will be very bad for an investor to deplenish there emergency funds in the course of buying more bitcoin.

[BluebloodCXVI]

Well the possibility to get the building of the fast fund and accumulate Bitcoin is the same way for you to have source income and stay patient to pay. Something I like to get is the best way to avoid using the emergency money to buy Bitcoin in the work market dip. People who are willingly tempted to do  that main purpose to emergency money is to complete the process expenses up the investment for increased.

The purpose of an emergency fund is to solve a problem in an emergency without having to withdraw your Bitcoin holdings. That emergency could be when you are unemployed or need money for a medical condition, and you may not be able to earn money at that time. If you have an emergency fund that is enough to cover your family's daily needs for 6 months in an emergency, but you may not need that much money. In such a situation keep an emergency fund available for 3 months and use the remaining funds to buy Bitcoin aggressively in the bearish period.

You may not always need an emergency fund, but you should always be prepared. I am not advocating buying Bitcoin with an emergency fund but as I have already said, if you have an excess amount, you should ensure that you use that fund properly.

You seem to be mixing up having emergency funds with having excess cash.
If a person reviews their finances and decide that 3 months worth of emergency funds is gonna be enough for their situation, then anything above that isn’t really part of their emergency funds anymore. It is just extra cash that they can choose to use in investing.

But if they have 6 months worth of emergency funds and they now choose to reduce it to 3 months worth simply because bitcoin is bearish, then that’s a different case. It means that they are basically assuming that 3 months worth of emergency funds will be enough for them but the reality is that they can’t really know that for sure because a person could be out of work longer than expected, face multiple emergencies at the same time, or deal with medical issues that may last much longer than they planned for.

The whole point of having emergency funds is to be prepared for the unknown. Not only will it help a person to cover unexpected expenses but it will also help in preventing them from selling their bitcoin prematurely. So once a person starts to dip their hands into their emergency funds just because the market presented a good buying opportunity, then it stops serving the purpose for which it was created for.

Certainly there will always be another chance for a person to choose to accumulate bitcoin but they definitely don’t  get to be able to choose when an emergency will pop up that is why it is better to always keep emergency funds intact and only invest with money that is truly surplus to their needs.

[samadam007]

Bitcoin works with time and if you miss a buying opportunity you might never come across it again so instead of waiting to figure out those long list, people who are interested in owning Bitcoin should figure out their discretionary fund which is most important to get started, then every other thing can come after.
 Because if an investor ends ups figuring others but haven't figured out the discretionary fund then it's like a waste of time cause one won't use those long list he mentioned to buy Bitcoin but the discretionary funds, which is why it’s important to get started.

You are creating unnecessary FOMO with this talk of “missing good buying opportunity”. Bitcoin is a long term investment, not a race. There is no special buying opportunity that people must not miss. The important thing is start accumulating once they’ve figured out their discretionary funds. The better advise should be for them to invest wisely instead of pressuring them

It’s even worse to call planning a waste of time. Planning is the foundation and understanding your finances and risks is not a delay. Even figuring out discretionary funds is also part of planning, incase you don’t know. Smart investors don’t choose between planning and accumulating Bitcoin…they do both at the same time, whether low earner or high earner. Accumulating without planning is how people end up investing money they cannot afford to lose and later selling under pressure.

[Futurexxx]

Fight the urge to use your emergency funds to buy bitcoin because you are still going to see the impact later on , and it won’t be a good one using money you can’t hold for long will definitely lead to you selling too early

Investing with your emergency funds is an irresponsible act that will never end well, because that's no longer an investment, but rather it's an act of gambling with your investment, because if any emergency situation arise during that period of time, your Bitcoin investment will be at risk of being sold prematurely, so as to address that real life emergency at hand.

instead of using your emergency funds to buy bitcoin just maintain your slow pace accumulation and make sure you are doing it right than trying to rush the process to the point of being too aggressive.

Using your emergency funds to invest is not an act of being aggressive, but an act of self sabotaging, because no reasonable investor will invest with his emergency funds when he or she knows that emergency can come at anytime.

[Rockson1]

Investing with your emergency funds is an irresponsible act that will never end well, because that's no longer an investment, but rather it's an act of gambling with your investment, because if any emergency situation arise during that period of time, your Bitcoin investment will be at risk of being sold prematurely, so as to address that real life emergency at hand.

Who does that? The other time I read someone comment although i can't remember but it is in this forum, the user said if an investor emergency fund is much and their is an opportunity to buy at low price, that such an investor can buy with part of his emergency funds and perhaps replace it later, isnt such advice confusing and deceitful especially for the newbies, why will someone invest funds meant for emergency and sometimes these persons talk with confidence as if they know what they are saying, although things like this has been said repeatedly countless times on different occasions, the role of emergency funds in Bitcoin investment journey is to cover for any emergency so as to prevent an investor to dip hands in his hodlings when an emergency situation occurs.
 

[GIF-JOBS]

People cannot invest in what they do not know nothing about, even if Bitcoin investment can be kick start without studying deep about Bitcoin knowledge, it is not a waste of time if people decides to study deep about Bitcoin knowledge before kick starting their Bitcoin investment. But people who already figured out their discretionary income, how much of their discretionary income they want to allocate for Bitcoin investment and building various back up funds, they do not need to learn deep about Bitcoin knowledge, once they acquire the basic knowledge of Bitcoin, they can kick start their Bitcoin investment and continue learning about Bitcoin as they are accumulating Bitcoin.

It is not necessary to know everything in advance to invest in Bitcoin. As you start investing, your knowledge can be expanded as you gain experience. And in the beginning, it is important to ensure that the investment is made from discretionary income. If emergency and other funds are not ready at the beginning, they can be created as you start investing. And how much money to allocate to discretionary income, emergency funds and other funds is common knowledge. And everyone can determine these calculations considering their income. And experience can be strengthened by investing small amounts regularly.

[Hardyrobust]

Bitcoin works with time and if you miss a buying opportunity you might never come across it again so instead of waiting to figure out those long list, people who are interested in owning Bitcoin should figure out their discretionary fund which is most important to get started, then every other thing can come after.
 Because if an investor ends ups figuring others but haven't figured out the discretionary fund then it's like a waste of time cause one won't use those long list he mentioned to buy Bitcoin but the discretionary funds, which is why it’s important to get started.

You are creating unnecessary FOMO with this talk of “missing good buying opportunity”. Bitcoin is a long term investment, not a race. There is no special buying opportunity that people must not miss. The important thing is start accumulating once they’ve figured out their discretionary funds. The better advise should be for them to invest wisely instead of pressuring them

It’s even worse to call planning a waste of time. Planning is the foundation and understanding your finances and risks is not a delay. Even figuring out discretionary funds is also part of planning, incase you don’t know. Smart investors don’t choose between planning and accumulating Bitcoin…they do both at the same time, whether low earner or high earner. Accumulating without planning is how people end up investing money they cannot afford to lose and later selling under pressure.

There is onething that is certain which is that the market always present opportunities at every prices as long as the investor is holding for a long term. It is mostly those that are after quick profit that do think of missing to buy especially during a dip. Though, it is not also a good idea if an investor decides not to start investing all in the name of waiting for the right opportunity for them to accumulate bitcoin. This will make then to either continue as a low coiner or no coiner at all. Therefore, it will be wrong for anyone that has figured out there discretionary income not to start there bitcoin investment.

[AuchanX]

People cannot invest in what they do not know nothing about, even if Bitcoin investment can be kick start without studying deep about Bitcoin knowledge, it is not a waste of time if people decides to study deep about Bitcoin knowledge before kick starting their Bitcoin investment.

I really don't understand you.. Why do you think there is any benefit in wasting your precious time in the acquisition of knowledge right before kickstarting your investment journey? Countless numbers of time folks have mentioned that Bitcoin is very vast.. And this vastness make it possible from know everything about Bitcoin in a short time.. That why it's best that folks start as soon as possible and then learn as they go, coz really there is no gain in self exclusive...

He was right about one thing, people cannot invest in what they do not know nothing about, unless someone else is doing the investment for them as is happening in some cases, you need to stop least have heard about bitcoin for you to on your own be able to invest in it, bitcoin investment isn't a ghost investment, where he is wrong is saying that people can decide to study deeply about bitcoin before they can start investing, people can do that but it's not the right thing for them to do it they truly want to become bitcoin investors.

Before one will decide on investing on Bitcoin, do well to understand the basics. If at a very list you should understand what Bitcoin is, it value, why am I buying, why am I selling and how do I keep it safe. Without all this it gives room for mistakes.wete a lot of our newbies get it wrong, is having the thought that Dey do have to become expect before you can start buying ur first satoshis. Bitcoin is so broad that learning never stops, instead of waiting to know Everthing the little you have u can start a thing with it. This process you have to learn practically also

Making the idea of ​​"why are you selling" part of a new investor's initial knowledge may actually be unnecessary in the long run. If a new investor comes in with a plan to sell at the beginning, he is not investing but trading. Why is someone talking about selling when he hasn't even started investing?
If someone wants to start, then two things are needed: discretionary income and common sense. He himself can separate discretionary income with his common sense and keep the learning process going. Later, he can make his own decision on how many years he wants to hold on.

[JayJuanGee]

Well the possibility to get the building of the fast fund and accumulate Bitcoin is the same way for you to have source income and stay patient to pay. Something I like to get is the best way to avoid using the emergency money to buy Bitcoin in the work market dip. People who are willingly tempted to do  that main purpose to emergency money is to complete the process expenses up the investment for increased.

The purpose of an emergency fund is to solve a problem in an emergency without having to withdraw your Bitcoin holdings. That emergency could be when you are unemployed or need money for a medical condition, and you may not be able to earn money at that time. If you have an emergency fund that is enough to cover your family's daily needs for 6 months in an emergency, but you may not need that much money. In such a situation keep an emergency fund available for 3 months and use the remaining funds to buy Bitcoin aggressively in the bearish period.

You may not always need an emergency fund, but you should always be prepared. I am not advocating buying Bitcoin with an emergency fund but as I have already said, if you have an excess amount, you should ensure that you use that fund properly.

You seem to be mixing up having emergency funds with having excess cash.
If a person reviews their finances and decide that 3 months worth of emergency funds is gonna be enough for their situation, then anything above that isn’t really part of their emergency funds anymore. It is just extra cash that they can choose to use in investing.

You are correct BluebloodCXVI.  There are instances in which guys might be using the term emergency funds to refer to their reserve funds or their back up cash - and so we know that with reserve funds there are more flexibilities in regards to how to use them.

Another thing is that if a person is in their earliest stages of building up their back up funds, they may well be keeping some flexibility in regards to how much of their back up funds they consider to be emergency funds (funds that they cannot touch absent an absolute emergency) versus reserve funds (funds that have some level of self-determined flexibility in how they can be used).  

We could imagine all kinds of variation in the ways that back up funds are built up, and even purposeful or unintentional taping into them during periods that they are still small and being built. .and maybe some of the bitcoin newbies are fairly new to investing and also fairly new to building up their cashflow management practices, so they might even get nervous (or begin to have false senses of being rich) merely based on their having had saved up 2 weeks of their expenses, when they had not previously been in the practice of saving up any money or building any cashflow cushion within the ways that they were managing their monthly income and/or expenses.

So there can be some learning curve and even getting used to how disciplined a person has to be when they are building wealth and so that they are not unable to resist their abilities to spend money merely because they have access to it.

But if they have 6 months worth of emergency funds and they now choose to reduce it to 3 months worth simply because bitcoin is bearish, then that’s a different case. It means that they are basically assuming that 3 months worth of emergency funds will be enough for them but the reality is that they can’t really know that for sure because a person could be out of work longer than expected, face multiple emergencies at the same time, or deal with medical issues that may last much longer than they planned for.

None of us can exactly know the level of back up funds that we need to have on hand for various kinds of cashflow scenarios that could come up in the future and the extent to which some of the possible scenarios are knowable or not, yet many times, guys will try to put reasonable levels of back up funds into place without going too far overboard in one direction or another, even based on their history of income/expenses and perhaps how long and how good they have been in managing their income/expenses.  

Surely the longer and stronger the track record, and even the more that a person might have had built various kinds of wealth, whether bitcoin and/or back up funds and even alternative investments, there could be greater levels of confidence in regards to finances that might be available in cases that the income might go down and/or the expenses might go up.

The whole point of having emergency funds is to be prepared for the unknown. Not only will it help a person to cover unexpected expenses but it will also help in preventing them from selling their bitcoin prematurely. So once a person starts to dip their hands into their emergency funds just because the market presented a good buying opportunity, then it stops serving the purpose for which it was created for.

Sure.  There are levels of unknown, yet at the same time, we are largely talking about back up funds, cashflow management in the context of also building a bitcoin stack size... so we surely cannot proclaim that everything is unknown, since we likely end up spending years building up our bitcoin and our cashflow management systems, so we likely would become more and more confident about our various cash cushions with the passage of time, as long as we do not end up having to spend a lot of time dipping into them based on earlier shortage of income and/or increases in our expenses.

Certainly there will always be another chance for a person to choose to accumulate bitcoin but they definitely don’t  get to be able to choose when an emergency will pop up that is why it is better to always keep emergency funds intact and only invest with money that is truly surplus to their needs.

For sure, everyone is taking chances, and whether we call the amounts emergency funds, or reserves or back up funds, those funds will only protect up to the level of cashflow shortage that they have been built up to protect, which truly is another reason why there are a lot of benefits to be able to make it through several years (and perhaps even several cycles) of building up these various back up systems, and surely many of us likely realize that if we have some kind of a very large emergency situation, then after we deplete all of our various cash reserves and even perhaps liquidate some of our assets, then we might ONLY have our bitcoin remaining to serve as the remainder of our emergency funds, and of course, if we had enough time to both built up our bitcoin holdings and even if we might have had the fortune of our bitcoin appreciating in value, then there may well be a lot of benefits in having had built up our bitcoin funds, and those guys who had been able to build up their bitcoin holdings to be several years of their expenses and/or even perhaps having had gotten that through bitcoin price appreciation, there can also be advantages in that, even though perhaps our emergency situation might end up causing us to deplete large amounts (and perhaps even all) of our bitcoin holdings.

[Akaenyi]

You have made a very good post here since you are able to allocate percentages to the various segments, it will guide those who are having troubles knowing where to start from. The only thing I want to add is that individual needs varies hence allocating percentages will be a little problematic. What I mean is that there are people wh0 10% of their income is enough to cover their basic needs and the remaining 90% can be divided into emergency funds, reserve funds and investment funds. On the contrary, there are people that spend as high as 60% of their income on basic needs leaving them with 40% for every other thing. You should not allocate 30% of your income into emergency funds when your basic needs have not been met. In addition, you should not get too focused on building your emergency funds to be x6 of your basic needs before you get started else you will never even get started.

The most important thing is to be able to calculate and allocate funds correctly based on needs and our peculiarities and also being able to respect each of the components that makes investing in Bitcoin and holding it possible at minimal stress.

As our needs and wants are different what we should do is basically take care of our basic expenses and the rest is our discretionary funds to decide how best we want to spend it, from there you will decide what goes into any of your wants that you want to put money into. You can decide amount that you want to spend on buying Bitcoin as an investor, amount that you want to keep for emergency funds and the rest, it is better if you can allocate them in percentages. If you don't have discretionary funds don't buy Bitcoin yet until you have and when you do that is when you can buy no matter how small the amount is. There is room to grow your buying amount if your discretionary amount increases so there is no need to put yourself under pressure to buy more than what you can afford to lose.

[IceLincoln]

[edited out]

I've learnt so much from different Bitcoin investment strategy threads that JJG is active on that a newbie don't have to gather extensive knowledge and experience before starting as an investor. It was a big relief for me to know that I don't have to get all the technical knowledge and deep understanding about the market before I can start to invest in Bitcoin as a newbie.

What a newbie basically needs to start is discretionary funds, create a Bitcoin wallet and know reputable platforms or people to buy from. Bitcoin knowledge is quite vast so if you want to be an investor you should first focus on the basic which is what I just mentioned then gradually start to research and increase your knowledge.

Of course, any bitcoin newbie has to be able to exercise reasonable judgement so that he can choose his starting out position size, and to make adjustments as he goes, so any newbie might have had figured out how much discretionary funds that he has available every week, such as $100 per week, so then to start he might decide to invest $30, save $30 and discretionarily spend $30, yet if he is reading about his location to source his bitcoins, he may well decide that he is going to spend 1-4 hours per week learning about bitcoin and learning about his cashflow management practices, and so there are a lot of things that could be learned, yet we don't know if the guy already has a lot of knowledge, skills and experiences, and maybe he tries to begin to focus on ways that he might be able to increase his discretionary income by increasing his income and/or decreasing his expenses.

He might come accross some information that relates to how he might frame his 9 individual factors, so he might need to look into his individual factors.  He might have to create spreadsheets, tables and charts to figure out what his various possible income and expenses are presently and what they might be in the future, and the same is true with any investments that he might have or that he might consider for the future.  For sure, as his bitcoin grows in value, he will want to make sure that he is protecting his bitcoin, yet he might choose to keep 10% or so of his bitcoin on exchanges, or he might want to explore other places to buy or sell his bitcoin (not that he would be selling in his early stages of bitcoin accumulation, except maybe spend and replace).

There can be a lot of things to learn about bitcoin and about cashflow management that are particular to a person's circumstances, yet many of us know that there is a lot of value in getting started, even if you might choose to purposefully start with a smaller amount and then work your way up to larger amounts as you become more comfortable.  Of course, there are some people who might come to bitcoin and they already have other investments and savings, and they might purposefully want to start to put a larger amount into bitcoin, and surely whenever there is a larger amount of money, then that money could be considered in terms of three categories of buying bitcoin which is 1) buying right away, 2) deferring based on time (DCA) and/or 3) deferring based on price (buying the dips that might not end up happening). When a person is new, they may want to get into bitcoin quickly, but at the same time, they still may want to pace themselves in accordance with their comfort level, so they might have to give some thoughts in regards to how they might establish their initial bitcoin buying plan, so maybe tentatively they have a budget in mind for 6 months, based on their income and based on money that they have in other investments (or savings), yet, they may well purposefully spread out their intended bitcoin buys over 6 months while they had gotten started but they are starting out slowly and then perhaps adjusting their initial entry plan as they go and as they learn more about both bitcoin and cashflow management..

There are absolutely lot of things to learn about bitcoin but before investing in bitcoin, one only needs the discretionary money to be able to make the decision to invest in bitcoin.
A lot of people argue about having basic knowledge and discretionary money and they’re right to an extent. There are so many people who come into bitcoin from different backgrounds; some might be seasoned investors already looking for where to diversify (like yourself when you first got into bitcoin), some may have heard about it before but didn’t take it serious at first, some may totally be newbies to digital assets. So for this kind of fellows they really need to have some basic knowledge of what they’re investing into.
It’s not that they’re dumb or whatever but it’s a new field for them so they have to know how to buy, and store it properly and have some level of understanding of bitcoin.

If they’ve decided to invest and discretionary money is available, acquiring this simple knowledge should not be a restriction to them starting their investment. It can even be acquired while waiting for the availability of discretionary income. So they can decide to start out small while they continue their learning and improve on their investment and conviction about bitcoin.
I believe practice is the best way to learn I also believe in being ready or prepared. Start small, continue learning and let your conviction grow with experience.

[JayJuanGee]

[edited out]

There are absolutely lot of things to learn about bitcoin but before investing in bitcoin, one only needs the discretionary money to be able to make the decision to invest in bitcoin.
A lot of people argue about having basic knowledge and discretionary money and they’re right to an extent. There are so many people who come into bitcoin from different backgrounds; some might be seasoned investors already looking for where to diversify (like yourself when you first got into bitcoin), some may have heard about it before but didn’t take it serious at first, some may totally be newbies to digital assets.

I surely emphasize getting started as soon as it is established that discretionary funds are available, so I don't emphasize any need for any specific kinds of knowledge to get started beyond figuring out that discretionary funds are available.

Of course, anyone with reasonable judgement might end up deciding that he wants to start out with $30 per week rather than $100 per week, even if he knows that he has $100 per week available. So then, he can learn as he goes, and surely I think that learning is a good thing, but also getting started is important too.  Learning is likely more concrete when it is interactive rather than just sitting back and imagining about all the things that are needed to learn first.

Each person with good judgement should also be able to identify if there are any specific concerns that they have that they feel that they need to figure out before getting started, but there is no need to get caught up in a bunch of all over the place learning, and instead more likely better to get started and to adjust their position size downward while they are becoming more comfortable, so instead of buying $100 per week, they are buying $30 per week and learning what they feel that they need to learn and maybe within a few weeks they can increase the amount that they are buying each week or maybe it takes them longer to learn what they feel that they need to learn.   People can choose their own levels, and at the same time, there is a certain value in prioritizing the investing into bitcoin and the getting cashflow management in order, yet people will come to their own judgements regarding prioritizing and at the same time, there should be nothing wrong with some moderate and reasonable buying plan that accompanies their learning about bitcoin and learning about cashflow management, and of course, many of us (including yours truly) recommend a simultaneous building up of back up funds, to the extent that the person did not already have back up funds in place, yet if they did have back up funds in place, then they still might have to build those funds or maybe use some of those funds to buy bitcoin (to the extent that the back up funds might be larger than needed).

By the way, with myself, when I started in the second to third week of November 2013, it seemed like it took me a week or two to get started buying some bitcoin, and much of the time that I was preparing to buy, I was figuring out the various places that I could potentially buy bitcoin, and I ended up meeting someone to make my first purchase... but then I set up a couple of accounts too, and the accounts took time to get limits increased and they might have even taken a bit of time for the activation process for the accounts.  But, for me, the learning and the planning were happening at the same time, and sure, I had other things going on in my life a the time too, so there can be weaving in of the time spent learning and even time going over my own income and/or expenses and reviewing options in terms of possible funding or moving money from other investments or attempting to figure out how to account for any of my other then existing investments... Yet, for myself, I ended up creating an initial 6 month investment plan that was not 100% strict but it still had a tentative budget for the whole period that was divided into 26 in order to create a weekly allowance, and sometimes I did not completely comply with my own allowance even though I was trying to set up what I thought would be a reasonable structure for myself and to learn along the way.

So for this kind of fellows they really need to have some basic knowledge of what they’re investing into.

You seem to be overly emphasizing on basic knowledge while not explaining what you believe basic knowledge is beyond their being able to figure out that they have discretionary funds and that if they have common sense (which an overwhelming majority of people do) then they can figure out their starting position size and get started buying bitcoin right away.

It’s not that they’re dumb or whatever but it’s a new field for them so they have to know how to buy, and store it properly and have some level of understanding of bitcoin.

We can agree to disagree, since I think that you are overemphasizing what you believe they know or don't know and presuming what they need to know.

Maybe you can list out each of the things you believe that they don't know in terms of their basic knowledge and that you believe that they need to know, and why.

If they’ve decided to invest and discretionary money is available, acquiring this simple knowledge should not be a restriction to them starting their investment.

Are you saying that they should start or not?

It can even be acquired while waiting for the availability of discretionary income.

If they have discretionary income they can start.  If they don't have it then they cannot.  So, yeah, if they have a check that is coming in next week or in the next two weeks, then yeah they might have to wait to get paid before they can get started, and in the meantime they can plan, since in that example, they do not have discretionary income available to them.

So they can decide to start out small while they continue their learning and improve on their investment and conviction about bitcoin.
I believe practice is the best way to learn I also believe in being ready or prepared. Start small, continue learning and let your conviction grow with experience.

Now you are contradicting your earlier statement, since now you are saying to get started.

[Okosisie]

[edited out]

I've learnt so much from different Bitcoin investment strategy threads that JJG is active on that a newbie don't have to gather extensive knowledge and experience before starting as an investor. It was a big relief for me to know that I don't have to get all the technical knowledge and deep understanding about the market before I can start to invest in Bitcoin as a newbie.

What a newbie basically needs to start is discretionary funds, create a Bitcoin wallet and know reputable platforms or people to buy from. Bitcoin knowledge is quite vast so if you want to be an investor you should first focus on the basic which is what I just mentioned then gradually start to research and increase your knowledge.

If a newbie creates a bitcoin account with out funds to invest on it, does it worthwhile?

Of course, any bitcoin newbie has to be able to exercise reasonable judgement so that he can choose his starting out position size, and to make adjustments as he goes, so any newbie might have had figured out how much discretionary funds that he has available every week, such as $100 per week, so then to start he might decide to invest $30, save $30 and discretionarily spend $30, yet if he is reading about his location to source his bitcoins, he may well decide that he is going to spend 1-4 hours per week learning about bitcoin and learning about his cashflow management practices, and so there are a lot of things that could be learned, yet we don't know if the guy already has a lot of knowledge, skills and experiences, and maybe he tries to begin to focus on ways that he might be able to increase his discretionary income by increasing his income and/or decreasing his expenses.

He might come accross some information that relates to how he might frame his 9 individual factors, so he might need to look into his individual factors.  He might have to create spreadsheets, tables and charts to figure out what his various possible income and expenses are presently and what they might be in the future, and the same is true with any investments that he might have or that he might consider for the future.  For sure, as his bitcoin grows in value, he will want to make sure that he is protecting his bitcoin, yet he might choose to keep 10% or so of his bitcoin on exchanges, or he might want to explore other places to buy or sell his bitcoin (not that he would be selling in his early stages of bitcoin accumulation, except maybe spend and replace).

There can be a lot of things to learn about bitcoin and about cashflow management that are particular to a person's circumstances, yet many of us know that there is a lot of value in getting started, even if you might choose to purposefully start with a smaller amount and then work your way up to larger amounts as you become more comfortable.  Of course, there are some people who might come to bitcoin and they already have other investments and savings, and they might purposefully want to start to put a larger amount into bitcoin, and surely whenever there is a larger amount of money, then that money could be considered in terms of three categories of buying bitcoin which is 1) buying right away, 2) deferring based on time (DCA) and/or 3) deferring based on price (buying the dips that might not end up happening). When a person is new, they may want to get into bitcoin quickly, but at the same time, they still may want to pace themselves in accordance with their comfort level, so they might have to give some thoughts in regards to how they might establish their initial bitcoin buying plan, so maybe tentatively they have a budget in mind for 6 months, based on their income and based on money that they have in other investments (or savings), yet, they may well purposefully spread out their intended bitcoin buys over 6 months while they had gotten started but they are starting out slowly and then perhaps adjusting their initial entry plan as they go and as they learn more about both bitcoin and cashflow management..

Starting this process requires a certain level of financial certainty, because creating a bitcoin account without financial stability is not worth it, because financial stability will give you financial benefits while investing on bitcoin

[Merit.s]

Starting this process requires a certain level of financial certainty, because creating a bitcoin account without financial stability is not worth it, because financial stability will give you financial benefits while investing on bitcoin

You don't need financial stability before you can start your bitcoin investment what you need is only your discretionary income which is the extra funds on you, which you have no important need for. You can buy bitcoin with part of your discretionary income without being financial stable.

You work your way to financial stability and that's why you need to invest the little extra money that you have into bitcoin instead of using it for consumables. Investment leads to financial stability in future and financial stability isn't a day job. If you're waiting till you are financially stable you might end up not investing and have fun staying poor for the rest of your life.

This is where some newbies get it twisted that they need to be have a certain level of comfort before they can invest in bitcoin when they already have their discretionary income available.