The importance of Not spending

[SOKO-DEKE]

It is always important before anyone invests in Bitcoin, that they should have a proper plan for it. The money that is to be invested in Bitcoin should be part of someone discretionary funds. Also, one should try to build an emergency fund for unforeseen future problems.Having this emergency fund will prevent us from touching our Bitcoin investment in times of financial need. Relying on your Bitcoin investment to solve problems is not advisable, as Bitcoin is volatile in nature. It’s possible that when you need the money, the price of Bitcoin might be down. If the investor has no other option, they may be forced to sell at a loss.Another important point is that we should always have clear plans for our Bitcoin investmentsuch as when to sell and when to take profits. There should always be targets.

[DiMarxist]

That's why investing in Bitcoin should always be carefully considered. If people have no passive income and their salaries barely cover their family's basic needs, what kind of investment can they even consider? If you've been skimping on food and health your entire life, you should find additional income to stop negatively impacting your health, and only then consider investing. I'm not a fan of the idea that we should hold on to Bitcoin despite all our adversity; we need to resolve our problems first, and only then, once we've recovered, invest in the future.

Investing in Bitcoin or any other cryptocurrency should never come before our basic needs. If someone is already struggling to cover up with basic needs like food, rent, or medical bills, putting money into an unpredictable market can make things even harder. But just like you said, it’s smarter to first focus on building stability maybe find extra sources of income, clear debts, and get to a comfortable place financially. Once that foundation is set, then investing makes sense. Bitcoin might be a good thing to invest in, but your survival and well being should always come first before any kind of investment.

[Sonia_123]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

It is important that you don't spend part of or your investment at all no matter the how the market dips because it will definitely bounce back in as much as bitcoin is still being available so that you will not regret it in future , it is wise to just hodl it as long as you are yet to reach your over accumulation stage so that it will be more beneficial to you instead of making you a low or no coiner because of the fear in market price .

You don't wait until you do not have any money to spend before looking for money or encroach your bitcoin investment for survival instead keep working or get more additional job if your present one can't meet up your personal expenses, or engage yourself in a part-time job that will support whatever business or job you are into so that you don't temper your bitcoin investment , instead of selling, you buy and accumulate to increase your portfolio so that you come out of your financial problem and become wealthy.

[Fivestar4everMVP]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

I've always been of the opinion that Bitcoin investment, or investing in bitcoin isn't something everybody can participate in even though it's absolutely available and open to everyone, those who lack steady or stable financial income source shouldn't be talking about investing money in bitcoin before it's only a matter of few hours or at most, one month or a little more, the investor may come back to sell the bitcoin they bought not quite long ago, even sometimes even at a huge loss due to how urgent they need the money..

A person without stable income source will hardly become  successful investing in bitcoin and possibly most other crypto currencies as well, I am saying this from my own personal experience as well, I can't remember or count accurately, the number of times I had to sale everything in my portfolio because something important came up that money is needed to sort out, no one should still be making this type of mistake anymore.

[Pandorak]

Essentially, earning an income should be the first priority, whether from our real-life jobs or from our businesses. The next step is to meet our basic needs first, such as food, paying rent, and our monthly bills. After that, we can start investing with peace of mind, because the money we use is discretionary funds (the remaining funds after all expenses), from which we can also set aside emergency funds, so that when something unexpected happens, such as health problems or other urgent needs, we still have emergency funds as a last resort to overcome these problems. It is important to protect our investment assets, meaning that we will not touch or sell them in the event of an emergency.

[Peanutswar]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

If you need to withdrawn few of your bitcoin just to survive on your current state of living i guess there's nothing wrong with this because thats the use of the bitcoin to spent and not all your life you will hold the bitcoin sometimes you need to flip them over just to enjoy the life, its not all about the investment as always its all about how you will live with your means with the use of the bitcoin. For me im doing it in a daily basis or even weekly just to survive what I had right now but of course a moderate and nice way not just because you have bitcoin you will spent it all just once.

[Luminous10]

Generally, when investing the idea is to invest what you can afford to lose, so you're not under pressure.
Same goes for Bitcoin, because the market can be volatile. Having some cash set aside is strategic when investing, this way you are not pressured when the market is down.

[qwertyup23]

Before you invest, it is important that you set up a plan for what you're going for, this includes the amount specified on the investment, your other category of money to be used for daily upkeep and that of an emergency fund altogether, the relevance of getting all these into consideration is to help your investment achieve its targets to maturity, when it could have been more profitable, because you can't afford making your investments to hold, then arises some needs you can't afford to hold than to take from what you have invested, not minding even selling at loss.

Just to add, make sure that the money you are about to invest is the same money you are willing to lose.

Investments, in general, are risky ventures where there is no guaranteed return of money. With the volatility of cryptocurrencies which has the potential of either skyrocketing and snowballing in its price, this makes it the perfect avenue for investors whether for short or long-term.

Personally, I have my regrets back in 2017 where I spent majority of my BTCs that I earned through participation from signature campaigns (1 BTC = ~$4,000). However, that experience taught me a valuable lesson- which is NOT to spend any of my BTCs and focus on long-term growth.

[Sammye3]

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

This is the reason why it is advisable to invest in Bitcoin with your discretionary funds so you don't end up losing out entirely. With this, I think there wouldn't be a reason of urgency to touch your Bitcoin investment even when the market is dipping because it's for a long term.

It's also advisable to have a side hustle that gives you the least income used to invest in Bitcoin and use your major income to settle bills. This would help with discipline and consistency with DCA investment over time.

[ZAINmalik75]

Generally, when investing the idea is to invest what you can afford to lose, so you're not under pressure.
Same goes for Bitcoin, because the market can be volatile. Having some cash set aside is strategic when investing, this way you are not pressured when the market is down.

It's not important for the money to be affordable for loss, but it's important that the money being used for an investment shouldn't be used for something else. You can't invest money that is supposed to be used for an important or urgent surgery coming next month in Bitcoin or cryptocurrencies, thinking that you will sell it as soon as you get some profits, and then you will use the money for the surgery, but what if the price drops after you invest the money? Will you be able to sell at a loss? No, because that will reduce the funds that were to be used for the surgery.

So, this is why, as said by almost everyone, it's important for investment funds to be discretionary, so that the person who has invested them doesn't get in trouble if the market goes the opposite way after their investment. Don't expect things by only thinking about a single possibility when you know that there is another possibility as well. When investing in cryptocurrencies, one should understand that the volatility works in both ways, it makes the price go up, and it makes it go down as well.

[Orpichukwu]

That's why it's important to set aside emergency funds when investing in Bitcoin... by having an emergency fund won't force you to sell your assets during a market downturn just because you need cash. You can handle unexpected expenses and avoid having to worry about finding the money to cover them. This way, your investments won't be affected, and you won't be tempted to sell just for that need.

This is why they say the wealthy hold more coin than the average person since they have more funds under their control. Every form of emergency need can be handled without even thinking about their investments in Bitcoin; there is always a steady cash inflow. Even as they have reserves elsewhere for unplanned needs, they still don't stop earning.

[Popkon6]

It is always important before anyone invests in Bitcoin, that they should have a proper plan for it. The money that is to be invested in Bitcoin should be part of someone discretionary funds. Also, one should try to build an emergency fund for unforeseen future problems.Having this emergency fund will prevent us from touching our Bitcoin investment in times of financial need. Relying on your Bitcoin investment to solve problems is not advisable, as Bitcoin is volatile in nature.

Of course, if someone can follow this right and proper plan, then he will definitely be able to sustain his investment for a long time. But I want to add another strategy to your topic, this is the source of income, if the Bitcoin holder has a good source of income, then he will definitely be able to take more and more risks of investing in Bitcoin. However, discretionary income plays a full role in Bitcoin investment, in this case, if the investor can save his own unwanted expenses, then he will be able to add more money to Bitcoin. For example, if he can give up all these bad habits like smoking, eating nuts in the park, eating ice cream, and watching movies, then his weekly DCA method can add more money to his investment.

It’s possible that when you need the money, the price of Bitcoin might be down. If the investor has no other option, they may be forced to sell at a loss.Another important point is that we should always have clear plans for our Bitcoin investmentsuch as when to sell and when to take profits. There should always be targets.

There must be a target according to the Bitcoin investment plan, but the investor can make a plan to invest in Bitcoin whenever he gets more money benefits. Especially during Bitcoin dumping, weak hands usually sell Bitcoin, but those who make ideal and strong investments can basically keep Bitcoin for a long time. And if in bad situations he does not sell Bitcoin and holds it for a long time, then he can definitely achieve huge benefits, there is no obstacle in this. But there should be a Bitcoin investment plan, it must be a long-term investment in Bitcoin for up to two cycles.

[tread93]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

I agree with this so much man, its harder said than done! Ive had to dip my hands in the cookie jar on a few occasions and they ended up being costly decisions as well! The investments are for investing and for future and they shouldn't be tampered with! HODLing is not for the faint of heart . I think at the end of the day if you can get by and manage to keep the majority of your bitcoin despite what life throws at you then you're doing okay!

[Tmoonz]

Investing in Bitcoin or any other cryptocurrency should never come before our basic needs. If someone is already struggling to cover up with basic needs like food, rent, or medical bills, putting money into an unpredictable market can make things even harder. But just like you said, it’s smarter to first focus on building stability maybe find extra sources of income, clear debts, and get to a comfortable place financially. Once that foundation is set, then investing makes sense. Bitcoin might be a good thing to invest in, but your survival and well being should always come first before any kind of investment.

Of a truth the priority of basic needs is maximally essential and infact it is reasonably practicable for a peace of mind, investing and struggling to meet up basic needs can be worrisome especially when there is a negative volatility and most times because of this selling at lost can be inevitable or selling of assets that you should building just to meet up sorting out your basic needs, there is no need investing when there is a financial crisis, investment should be pause to be continued later afterwards when there is a discretionary income and there no need to feel shame shame or dismay when you are not able to invest at some point.

[fuguebtc]

Investing in Bitcoin or any other cryptocurrency should never come before our basic needs. If someone is already struggling to cover up with basic needs like food, rent, or medical bills, putting money into an unpredictable market can make things even harder. But just like you said, it’s smarter to first focus on building stability maybe find extra sources of income, clear debts, and get to a comfortable place financially. Once that foundation is set, then investing makes sense. Bitcoin might be a good thing to invest in, but your survival and well being should always come first before any kind of investment.

This is the kind of basic knowledge that all financial investors need to know and follow. We should only consider investing after we have budgeted for important expenses like necessities and emergency funds. This not only ensures that we do not encounter financial troubles and risks in life but also creates a solid foundation for us to optimize long term profits with our investments.


But honestly, I don't think many of us do this process properly. Most of us are very eager to get rich with bitcoin. If people are honest, I believe many people are doing the opposite, they prioritize investing money in bitcoin instead of emergency fund, essential needs fund.

This is really dangerous but many people will not believe it until they are in that situation, they will see how wrong their financial strategy is.

[virasog]

When you have no more money then you think that you would just get money from your bitcoin holdings, this is where your investments gets in danger. When you have something to pay for and you already dedicated a part of your investment for that make sure that you will either take out the money immediately when the market is up otherwise the market might just decline and you might end up not being able to pay for whatever it is you have to especially if it is time sensitive.

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Yes there should always be certain part of your portfolio or your money in Bitcoin which you will never spend no matter how emergency it is as you always have some other emergency funds apart from your saving in Bitcoins.

Yes sometimes the extreme situation arises that you're emergency funds are also ended and you need money and need to spend your saving in Bitcoin but still you should find some other option like most people have gold with them so it's better to sell gold and not Bitcoin in this situation.

[₿itcoin]

Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?
It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Hmm, many people think of Bitcoin stash as a piggy bank instead of a longterm freedom fund, which is ridiculous.

Haha, the worst move is to sell it when you run out of fiat to pay the bills. I would compare it to cutting down a tree for fuel instead of waiting for the fruit to come, who could be more stupid!!

imo if you are smart enough, the nimble witted play for you is to build a solid fiat cushion for your daily life. And let your BTC Hodl &  untouched as long as possible, especially when the bull run is going on.

Always remember that the real win in Bitcoin comes from not spending too quickly, this is how you can get out of the paycheck to paycheck trap

[Cookdata]

The most appropriate thing to do is to not spend your bitcoin investment at all until you are really ready to take out half or all of it. That way you won't be that affected if the market declines. Now because you need some bills to pay and the market has declined, you do not want to spend your bitcoin anymore but what other choice do you have when you have no more money at the moment?

It is really crucial to be able to hold bitcoin while also having money saved on the side so you won't have to touch your bitcoin investment. Regardless of whether the market is up or down.

Which ever works for you dawg.

You see, there is no point in selling any of your Bitcoin if you have not profitable and there is no point in waiting for it to grow in price if the market is dumping. We are no longer in the times where you can get 1 Bitcoin for $10k, that time is over but maybe the institutional investors has the money to do all that kind of millions buying. For retail, you will have to squeeze your finances to be able to afford one Bitcoin right now, there is no way about it other than DCA.

Assuming you have the money to buy large amount of Bitcoin, you can buy and sell all you want that's your Bitcoin and your investment, you do anything you like, some are very good in switching side investment but as for you and I that has little to invest, do DCA and leave the Bitcoin alone, when the time is right for you to sell you can do that or keep buying if you don't have any reason to sell. It's your Bitcoin though, it's yours and nobody should tell you what to do but if you keep it, that's best.

[Ultegra134]

I've been holding for long-term, it's been over 4 years so far, and I haven't sold a single Satoshi. I'm going to be honest though, I've thought about it multiple times. I've actually considered withdrawing some of my Bitcoin to pay some specific expenses, such as travelling, or car maintenance expenses, but so far, I've managed to hold myself and refrain from touching my Bitcoin. It's extremely important not to spend your Bitcoin whenever the opportunity arises, because ultimately, you'll end up spending more than you're acquiring.

[reefsea]

I've been holding for long-term, it's been over 4 years so far, and I haven't sold a single Satoshi. I'm going to be honest though, I've thought about it multiple times. I've actually considered withdrawing some of my Bitcoin to pay some specific expenses, such as travelling, or car maintenance expenses, but so far, I've managed to hold myself and refrain from touching my Bitcoin. It's extremely important not to spend your Bitcoin whenever the opportunity arises, because ultimately, you'll end up spending more than you're acquiring.

That is a very good thing although in the end the decision is in your own hands because of course when looking at the vulnerable time you have done there must be benefits that can be taken but still holding back because it is not here your goal I think there is nothing wrong in that.

The most important thing is not to think too much and burden yourself when you are sure of what you are doing by continuing to hold your bitcoin then that's what you should believe in.
Sometimes we are too focused on the amount of profit or when bitcoin has decreased which makes us doubt whether our decision is right or not but if we are really sure of the longer goal then I think we just need to enjoy and remain a strong hand to hold the bitcoin that we currently have.
Many previous investors are still holding their bitcoin even more than we do but they are still comfortable with what they are doing and we only need to follow in the footsteps of old investors with long-term goals if we are already sure. That doesn't mean we shouldn't take the profits we have but as long as we realize that this is not our place then why would we get out of bitcoin.