Balancing Financial security and Bitcoin Accumulation

[Princess Leah]

You are right. Many of us who are new to Bitcoin investing are more likely to not have an emergency fund. In fact I did not have one but I am building an emergency fund along with Bitcoin accumulation because I now understand the need for an emergency fund to continue Bitcoin accumulation in the long term. At any time sources of income may stop or money may be needed due to physical illness. If you have an emergency fund available it will not be difficult to build a Bitcoin holding.

The journey of Bitcoin accumulation is not the same for everyone because of the differences in finances. Even if your financial capacity is limited you should start accumulation Bitcoin on a small scale and increase the amount as your discretionary income increases and of course keep the size of the emergency fund consistent with at least 3 months of household budget because you never know how big the need will be.

That's Bitcoin investment for you, people don't need to know it all before investing you can start with your discretionary funds and gradually understand what you need to make the investment sustainable as time goes. That's why i disagree when some folks talk about having basic knowledge before investing cause what a beginner needs is just discretionary funds and common sense.
 
 Yeah, and that's why every investor should invest according to their financial capacity and grow with the pace till they're able to generate more discretionary funds.

[devouring-DARKNESS]

That's Bitcoin investment for you, people don't need to know it all before investing you can start with your discretionary funds and gradually understand what you need to make the investment sustainable as time goes. That's why i disagree when some folks talk about having basic knowledge before investing cause what a beginner needs is just discretionary funds and common sense.
 
 Yeah, and that's why every investor should invest according to their financial capacity and grow with the pace till they're able to generate more discretionary funds.

Maybe what some people call basic knowledge is just knowing to invest in bitcoin with your discretionary income only and by extension, know why they should invest only with their discretionary income seeing as bitcoin investment is a long term investment that doesn't also necessarily guarantee success.
Some people add knowing about having an emergency fund which is understandable to a point but adding evenore to the list of what's consider basic knowledge just makes the whole complicated especially since it doesn't have to be, just figuring out your discretionary income and knowing to invest with it is all a person needs to start investing in bitcoin.

[JayJuanGee]

[edited out]

You are right. Many of us who are new to Bitcoin investing are more likely to not have an emergency fund. In fact I did not have one but I am building an emergency fund along with Bitcoin accumulation because I now understand the need for an emergency fund to continue Bitcoin accumulation in the long term. At any time sources of income may stop or money may be needed due to physical illness. If you have an emergency fund available it will not be difficult to build a Bitcoin holding.

The journey of Bitcoin accumulation is not the same for everyone because of the differences in finances. Even if your financial capacity is limited you should start accumulation Bitcoin on a small scale and increase the amount as your discretionary income increases and of course keep the size of the emergency fund consistent with at least 3 months of household budget because you never know how big the need will be.

If you been on the forum (and maybe in bitcoin since February 2024, then that is more than 2.5 years).  How long did it take you to build up your emergency funds to 3 months of your expenses?  more than a year?  two years? Is the amount that you put into your bitcoin the same or more than your emergency funds? or is the amount that you put into bitcoin less than the amount that you put in your emergency funds?

Even if we might be trying to build up our bitcoin holdings and our back up funds, it is likely that if we are starting out without much of any back up funds, then it is going to take longer to build both of them up, depending on how high our discretionary income might be.

Maybe you can explain how you (or some other bitcoin beginner) might build from zero or close to zero back up funds, and then be spouting out that it is a good idea to get to 3 months of your expenses into your back up funds?