Reasons to use only Discretionary Income for Bitcoin investment.

[Okuri]

Using discretionary income for Bitcoin keeps essentials safe, avoids emergency risks, and promotes discipline.

[avp2306]

...However as a Bitcoin Investor you're supposed to have emergency fund or reserve fund should incase your discretionary income is low you can easily take from any of this funds to sort things out, at the same time looking for a way to increase your discretionary income.

That's right, an investor should always have money so that, if necessary, they don't have to sell their bitcoins, the price of which at that time may be lower than they were bought. In general, any person should have money for a rainy day, and in this case your investments will be safe.

This is how important for having a emergency fund aside from considering to have discretionary income to use for investment. Since they can make sure that they have some funds to use for their special needs and they don't need to touch their investment and sell it more earlier on the timeline they set.

If they always think about investment and use all everything they have for this purposes then provably that they might suffer on rainy days season in their life. Since this situation could make them fail and its so bad if when they sell because they don't have a choice the current market situation experiences a bearish run, with that they have good chance that they might lose some amount and that completely waste of time and effort for them.

[Die_empty]

I think you're the one that is getting yourself confused here, I don't mean to dispute on the fact that investing from your discretionary income means you're Investing with peace of mind but even as that one also need to be discipline so as to enable you stay focused regardless the ups and downs of the market. Because alot of people have been investing from their discretionary income yet they don't feel comfortable when there is a little drop in the value of bitcoin simply because they are not well discipline so when investing from your discretionary income is also advised to apply self discipline this would help you to stay focused no matter anything.

It means that this set of people is not worried because of a lack of funds to cover their needs but because of fear of the unknown. They are worried about the drop in price of Bitcoin and might want to sell off. Such people need to gain more knowledge on how Bitcoin works. Without knowledge, patience and courage, investors might be influenced by FUD.   

This is how important for having a emergency fund aside from considering to have discretionary income to use for investment. Since they can make sure that they have some funds to use for their special needs and they don't need to touch their investment and sell it more earlier on the timeline they set.

If they always think about investment and use all everything they have for this purposes then provably that they might suffer on rainy days season in their life. Since this situation could make them fail and its so bad if when they sell because they don't have a choice the current market situation experiences a bearish run, with that they have good chance that they might lose some amount and that completely waste of time and effort for them.

Some newbies become fascinated by Bitcoin and want to invest all I had. They might have the perception that they would make profit within a short period. Bitcoin is an investment that becomes profitable if it is kept for a long time, hence, investors should have plans for the unpredictable future.   

[Patikno]

This is how important for having a emergency fund aside from considering to have discretionary income to use for investment. Since they can make sure that they have some funds to use for their special needs and they don't need to touch their investment and sell it more earlier on the timeline they set.

If they always think about investment and use all everything they have for this purposes then provably that they might suffer on rainy days season in their life. Since this situation could make them fail and its so bad if when they sell because they don't have a choice the current market situation experiences a bearish run, with that they have good chance that they might lose some amount and that completely waste of time and effort for them.

Some newbies become fascinated by Bitcoin and want to invest all I had. They might have the perception that they would make profit within a short period. Bitcoin is an investment that becomes profitable if it is kept for a long time, hence, investors should have plans for the unpredictable future.   

I often encounter beginners who think that cryptocurrencies, especially Bitcoin can generate significant profits quickly, but this isn't the case. They should understand that investing takes time, managing a portfolio to grow it, making gradual investment repayments, or using a Dollar Cost Averaging (DCA) strategy, so they can see the long-term benefits of their investment. By the way, portfolio management is the important one, especially for beginners, it is best to manage it with money that you can truly guarantee you can hold for the long term, so it is best to avoid using it altogether, and using discretionary income is also the same. Alternatively, you could allocate your fiat savings to Bitcoin, but I don't recommend investing in altcoins, as there are so many considerations and risks on it.

[Antotena]

Using discretionary income for Bitcoin keeps essentials safe, avoids emergency risks, and promotes discipline.

This discretionary income is for people that has very limited money around and want to buy Bitcoin. Someone with millions in another investment can decide to invest their momey on Bitcoin and don't even think about discretionary income, they maybe using their discretionary income to pay some minor bills but someone with small amount of income doesn't have choice but to use their small income to buy Bitcoin which may not be a stable guyas usual.

Well, I still think that when you don't depend on one source of income as a low income earner, when others opportunities arise you will have more income to but Bitcoin without relying on just discretionary income. There was a time had Bonk when it was nothing but the profits I made from it, I didn't think twice before I used it to buy Bitcoin and so luckily, Bitcoin price was way cheaper that time than it was today, this are the kind of opportunities in talking about.

[Rgram]

This makes me ask myself certain questions of those whale investors like,
Have they been investing with discretionary income? All those huge buys they invest with that gets the internet boozing

I think Bitcoin has come to a certain point for an investment where you could just leap should you wish to fly. It doesn’t mean all your life’s worth has got to go in but, you can always take some risk with it and understand that the most it’s going to take out of your is patience and in few years, you might smile at all the enduring you’ve got to do.

[Alone055]

This makes me ask myself certain questions of those whale investors like,
Have they been investing with discretionary income? All those huge buys they invest with that gets the internet boozing

I think Bitcoin has come to a certain point for an investment where you could just leap should you wish to fly. It doesn’t mean all your life’s worth has got to go in but, you can always take some risk with it and understand that the most it’s going to take out of your is patience and in few years, you might smile at all the enduring you’ve got to do.

First of all, this thing doesn't apply to whales, because the reason why they are called whales is that they are wealthy and have a lot of money to throw around, unlike an average Joe, who only has a net worth of $20k, including the house he owns and his life savings. So, if this person, the average Joe, sells his house to invest all the money in Bitcoin with the hope that he will cashout when the total amount reaches $30k from $20k but then Bitcoin drops in value, and his $20k goes to $10k, and now he has nowhere to live, has no savings that he can use, and is now lost in what he should and shouldn't do.

So, the reason why it's important for people to avoid investing money in Bitcoin that they might need or are supposed to be used for other things is that Bitcoin is a volatile asset, and it's value might go up, but it goes down as well, hence, taking risks might be rewarding, but it can be devastating as well if the money you had invested wasn't extra or wasn't intended to be invested.

[Proty]

This makes me ask myself certain questions of those whale investors like,
Have they been investing with discretionary income? All those huge buys they invest with that gets the internet boozing

I think Bitcoin has come to a certain point for an investment where you could just leap should you wish to fly. It doesn’t mean all your life’s worth has got to go in but, you can always take some risk with it and understand that the most it’s going to take out of your is patience and in few years, you might smile at all the enduring you’ve got to do.

First of all, this thing doesn't apply to whales, because the reason why they are called whales is that they are wealthy and have a lot of money to throw around, unlike an average Joe, who only has a net worth of $20k, including the house he owns and his life savings. So, if this person, the average Joe, sells his house to invest all the money in Bitcoin with the hope that he will cashout when the total amount reaches $30k from $20k but then Bitcoin drops in value, and his $20k goes to $10k, and now he has nowhere to live, has no savings that he can use, and is now lost in what he should and shouldn't do.

So, the reason why it's important for people to avoid investing money in Bitcoin that they might need or are supposed to be used for other things is that Bitcoin is a volatile asset, and it's value might go up, but it goes down as well, hence, taking risks might be rewarding, but it can be devastating as well if the money you had invested wasn't extra or wasn't intended to be invested.

I think it is wrong to say the reason why these set of person are whale's is because they are rich . No that isn't the reason and Moreover some of them were not rich when they started but they saw the potential of bitcoin and started accumulating bitcoin early. I think they are called whales because they have a great amounts of bitcoin in there holding and they start when the price of bitcoin was extremely low and some of them were miners.

[Su-asa]

I think it is wrong to say the reason why these set of person are whale's is because they are rich . No that isn't the reason and Moreover some of them were not rich when they started but they saw the potential of bitcoin and started accumulating bitcoin early. I think they are called whales because they have a great amounts of bitcoin in there holding and they start when the price of bitcoin was extremely low and some of them were miners.

Well you might be right but I don't think those people started accumulating Bitcoin when it was $1000k. To me I agree with what @Alone055 said because  if not they are already wealthy and have some influence, they wouldn't have been called whales. With the money and influence they have they can even decide to buy a lot of Bitcoin at anything and also sell anytime they want.

[Versatile_choice]

I think you're the one that is getting yourself confused here, I don't mean to dispute on the fact that investing from your discretionary income means you're Investing with peace of mind but even as that one also need to be discipline so as to enable you stay focused regardless the ups and downs of the market. Because alot of people have been investing from their discretionary income yet they don't feel comfortable when there is a little drop in the value of bitcoin simply because they are not well discipline so when investing from your discretionary income is also advised to apply self discipline this would help you to stay focused no matter anything.

It means that this set of people is not worried because of a lack of funds to cover their needs but because of fear of the unknown. They are worried about the drop in price of Bitcoin and might want to sell off. Such people need to gain more knowledge on how Bitcoin works. Without knowledge, patience and courage, investors might be influenced by FUD.   

Exactly the point sir this was exactly what I was actually trying to point at,But  you just ironed it out. And yeah fear is the major challenge that most newbies are having, and not newbies alone even most of this guys who are proclaiming to have acquired enough knowledge about bitcoin investment still feel kinda Way whenever there is a dip in the price. So having discretionary income does not guarantee everything even though some investors may not get bothered during the dip due to the fact that they Invested from thier discretionary income. while those that panic without considering the fact that they Invest from their discretionary income need to be More discipline.

[mvdheuvel1983]

I think it is wrong to say the reason why these set of person are whale's is because they are rich . No that isn't the reason and Moreover some of them were not rich when they started but they saw the potential of bitcoin and started accumulating bitcoin early. I think they are called whales because they have a great amounts of bitcoin in there holding and they start when the price of bitcoin was extremely low and some of them were miners.

Well you might be right but I don't think those people started accumulating Bitcoin when it was $1000k. To me I agree with what @Alone055 said because  if not they are already wealthy and have some influence, they wouldn't have been called whales. With the money and influence they have they can even decide to buy a lot of Bitcoin at anything and also sell anytime they want.

The whales you hear about are those early adopters who took advantage of the price of Bitcoin when it hasn't gotten to the price it is today and accumulated large number of Bitcoin, they may not be wealthy during their early days but they saw the potential and ventured into accumulation and today the number of Bitcoin they have in their custody gives them the level of influence they have in the price of Bitcoin to the point where they control the market and affect the price of Bitcoin.

[knowngunman]

I often encounter beginners who think that cryptocurrencies, especially Bitcoin can generate significant profits quickly, but this isn't the case. They should understand that investing takes time, managing a portfolio to grow it, making gradual investment repayments, or using a Dollar Cost Averaging (DCA) strategy, so they can see the long-term benefits of their investment. By the way, portfolio management is the important one, especially for beginners, it is best to manage it with money that you can truly guarantee you can hold for the long term, so it is best to avoid using it altogether, and using discretionary income is also the same. Alternatively, you could allocate your fiat savings to Bitcoin, but I don't recommend investing in altcoins, as there are so many considerations and risks on it.

Majority of people who think they can make significant profit from crypto or bitcoin particularly are the set of people who were mislead by people that introduced them to cryptocurrency industry. These set of people were told that crypto is a quick money making scheme that double or triple their money if they invest. It's hard to change the mindset of these people from what they initially believed except few of them who went extra mile to do self research.

Since they assumed it's an avenue to make quick money, they know nothing about portfolio management, DCAing, security or funds management. They normally invest all they have with the hope of making double of it in a short period.

[liasbaa]

Using discretionary income for Bitcoin keeps essentials safe, avoids emergency risks, and promotes discipline.

By using discretionary income to accumulation Bitcoin, you can meet your expectations because you can implement each of your expenses properly as well as get a large Bitcoin holding through long term management. For anyone who is not financially sound or solvency it is better to continue accumulation Bitcoin by following the Dollar Cost Averaging (DCA) method. DCA method is suitable for buy Bitcoin because its price is volatile so during times of dumping or pumping prices small purchases reduce the average value of Bitcoin in the portfolio.

[Franctoshi]

I often encounter beginners who think that cryptocurrencies, especially Bitcoin can generate significant profits quickly, but this isn't the case. They should understand that investing takes time, managing a portfolio to grow it, making gradual investment repayments, or using a Dollar Cost Averaging (DCA) strategy, so they can see the long-term benefits of their investment. By the way, portfolio management is the important one, especially for beginners, it is best to manage it with money that you can truly guarantee you can hold for the long term, so it is best to avoid using it altogether, and using discretionary income is also the same. Alternatively, you could allocate your fiat savings to Bitcoin, but I don't recommend investing in altcoins, as there are so many considerations and risks on it.

Majority of people who think they can make significant profit from crypto or bitcoin particularly are the set of people who were mislead by people that introduced them to cryptocurrency industry. These set of people were told that crypto is a quick money making scheme that double or triple their money if they invest. It's hard to change the mindset of these people from what they initially believed except few of them who went extra mile to do self research.

Since they assumed it's an avenue to make quick money, they know nothing about portfolio management, DCAing, security or funds management. They normally invest all they have with the hope of making double of it in a short period.

I agree with you, That's the target of many people coming to invest crypto, they're looking for this get rich quick scheme crypto projects, and that's why they usually end up losing their money in the hands of scam coins or honey pot projects. Most newbie investors are not interested in learning about this coins to understand how to go about doing investing their investment into Bitcoin or cryptos.

[Judith87403]

I agree with you, That's the target of many people coming to invest crypto, they're looking for this get rich quick scheme crypto projects, and that's why they usually end up losing their money in the hands of scam coins or honey pot projects. Most newbie investors are not interested in learning about this coins to understand how to go about doing investing their investment into Bitcoin or cryptos.

Yeah sometimes this happened as a result of not waiting to get a proper knowledge before investing, but we don't have to push all the blames to knowledge because I'm sure that majority of this guys that ended up making this mistake have the knowledge but have chosen to make a trial because they believe in this saying that trials leads to success or failure not knowing that there are some trials that is not worth it. And how can you know about this, first you have to make intensive research about that project/ coin so as to know if the coin has a good potential in the future before attempting to make a trial, rushing out to invest when you have no prove or sign that the coin has a good potential in the future, going about it this way is just like a waste of Money.

[Distinctin]

While majority use their discretionary income for temporary fun and entertainment, it’s best if we will prioritize having long-term approach, that is using those income in a long-term investment or asset that will surely give us profitable returns in the long run.

Bitcoin is for long-term investment. The longer you hold bitcoin, the bigger the profits you will gain in the future. But due to its high volatility and uncertainty, we encourage people to invest with bitcoin using our discretionary income.

[Makus]

...Some people use their extra money to gamble, club, drink, womanize and many more but it's wise for you not to use this funds for consumption purpose. ..
Investing with your discretionary income allows you to pile up more bitcoin for yourself overtime and hodli till your desired time.

But in any case, you should not limit yourself to entertainment, because living with the sole purpose of accumulating more bitcoins is pointless. You have provided a good list of what you can spend your discretionary income on, do not limit yourself, because life is short)

That's true but when the discretionary income is low and not be able to meet up with the bills of entertainment and bitcoin investment , you will have to choose which one is more important,  because for me I would rather choose invedt first, then if their is anything left then  entertainment can come second.

Life is very short no doubt and everything needs to be balanced but when it is impossible to afford everything at a time just go for what you really need, the rest can come up later.

Absolutely sometimes it may seem as a hard choice to make but always put investment in front of entertainment. Alot of people chose entertainment and today they wish they had spent those years investing and making something good out of their investment. One thing I  believe is that there is always time for you to get entertained but we should sacrifice our future for short term pleasure that would be remembered in just a few months time. Though sometimes it important and good but it shouldn't be a substitute to future investment except you have more than enough to handle the two without  any complications.

[Maslate]

...Some people use their extra money to gamble, club, drink, womanize and many more but it's wise for you not to use this funds for consumption purpose. ..
Investing with your discretionary income allows you to pile up more bitcoin for yourself overtime and hodli till your desired time.

But in any case, you should not limit yourself to entertainment, because living with the sole purpose of accumulating more bitcoins is pointless. You have provided a good list of what you can spend your discretionary income on, do not limit yourself, because life is short)

Life isn’t all about working hard and money making. There should be balance. At least there should also be time for leisure and fun, even just once or twice a month. With that, you will never feel the high pressure with your work and investment.

Maximize your investment as much as possible. But never put all your income into it. Leave some for your expenses, and of course reserve some time and money to reward yourself.

[taufik123]

Life isn’t all about working hard and money making. There should be balance. At least there should also be time for leisure and fun, even just once or twice a month. With that, you will never feel the high pressure with your work and investment.

Maximize your investment as much as possible. But never put all your income into it. Leave some for your expenses, and of course reserve some time and money to reward yourself.

Refreshing the brain with a few vacations is very necessary, I do it once a month or even once a week if that's possible.
Keeps me sane and away from excessive stress, this will also be good for our body's immunity and don't forget to exercise regularly.

Successful investments without being balanced with good health will only be a wasted investment,
because in the end the investment profits are used to pay for hospital costs and the like.

Good and correct investments can be managed well, investments for the long term and some investments for health.
And not all income or profits obtained must be reinvested, all will have an allocation.

[Ziskinberg]

All investments have their certain risks, so if we want to gain an edge, we must chose to take calculated risk. And by investing through our discretionary income, it’s one effective way to lessen and minimize the risk of losing. Be it digital or physical investment, we must ensure to invest only on what we can afford to lose. 

However, with volatile investments like bitcoin, it should be given highest regard of being cautious. Invest at your own risk, invest on something that you don’t fear of losing, to achieve higher positive outcome and to be at peace with the nature of your investment.