Hodl (Naija)

[De seer1]

I think that you’re either being just borderline ignorant right now or perhaps maybe you’re just delusional if you truly believe that keeping emergency funds in bitcoin is a good idea. We all know that bitcoin is a volatile asset and so the price always moves up and down. So what if you need the emergency funds during the time that the market price is down and you cannot wait for it to go up again before you sort the emergency then you decide to sell it to take care of the said emergency, would the value still be the same as the money you used to buy the bitcoin in the first place ? No it won’t. And it might eventually turn out that the money you saved in bitcoin will no longer be enough again to take care of the emergency because its value has decreased. so is it really worth it?

Your statement is very confusing, the only thing I'm able to get from your whole statement is that we need emergency fund during the time that the market price is down and I largely disagree with you on that. Emergency fund should be make available in all time so long as you have started your accumulation journey, the reason why it's advised to have our emergency fund set up is not just because of the dip that may occur but it's due to unexpected expenses that might come up during the process of your accumulation.

Emergency fund is not a security precaution fund for down trends alone it's a general phenomenon for one's financial good. Those who are opptortuned to have started their emergency funds before investing might not understand how advantage they are compared to someone who is just beginning his emergency funds because those who have saved up some emergency fund before can make a complete purchase with their discretionary income meanwhile those who haven't started would have to split the money to invest in what ever they want to invest in and still save up for emergency fund.

A lot of people treat emergency funds like something people build after you start investment but having it in place first really gives you breathing space.vit makes investing way less stressful because you are not constantly pulling from the Sam pool of money. at this same time , I think for many beginners it's just a timing issue rather than lack of discipline they are trying to balance both at once with limited income.

[BluebloodCXVI]

A lot of people treat emergency funds like something people build after you start investment but having it in place first really gives you breathing space.vit makes investing way less stressful because you are not constantly pulling from the Sam pool of money. at this same time , I think for many beginners it's just a timing issue rather than lack of discipline they are trying to balance both at once with limited income.

Even though i support the idea of having emergency funds, i don’t think it would be wise to delay investment just because you have not figured out your emergency funds yet. In an instance where a person’s discretionary income is limited and they are not able to set aside their emergency funds from it, there’s no need to hold off their investments because they can always figure out ways to make their emergency funds available on their next purchase. It will be better to start investing with whatever you can comfortably afford first and then build your back up funds alongside it as your discretionary income allows instead of wasting time waiting to complete one before starting the other.

[Showlove01]

I think that you’re either being just borderline ignorant right now or perhaps maybe you’re just delusional if you truly believe that keeping emergency funds in bitcoin is a good idea. We all know that bitcoin is a volatile asset and so the price always moves up and down. So what if you need the emergency funds during the time that the market price is down and you cannot wait for it to go up again before you sort the emergency then you decide to sell it to take care of the said emergency, would the value still be the same as the money you used to buy the bitcoin in the first place ? No it won’t. And it might eventually turn out that the money you saved in bitcoin will no longer be enough again to take care of the emergency because its value has decreased. so is it really worth it?

Your statement is very confusing, the only thing I'm able to get from your whole statement is that we need emergency fund during the time that the market price is down and I largely disagree with you on that. Emergency fund should be make available in all time so long as you have started your accumulation journey, the reason why it's advised to have our emergency fund set up is not just because of the dip that may occur but it's due to unexpected expenses that might come up during the process of your accumulation.

Emergency fund is not a security precaution fund for down trends alone it's a general phenomenon for one's financial good. Those who are opptortuned to have started their emergency funds before investing might not understand how advantage they are compared to someone who is just beginning his emergency funds because those who have saved up some emergency fund before can make a complete purchase with their discretionary income meanwhile those who haven't started would have to split the money to invest in what ever they want to invest in and still save up for emergency fund.

A lot of people treat emergency funds like something people build after you start investment but having it in place first really gives you breathing space.vit makes investing way less stressful because you are not constantly pulling from the Sam pool of money. at this same time , I think for many beginners it's just a timing issue rather than lack of discipline they are trying to balance both at once with limited income.

You do not really need to time anything in Bitcoin investment and also in Bitcoin investment how you build your emergency funds is as a function of the kind of source of income you have. There are people who has a strong source or good source of income that can help them build their discretionary income and emergency funds at same time before even starting their investment but in a case you don't have this strong source of income all you need do is figure out your discrestionary income first and start accumulating then later as you progress you can start sorting out your emergency funds it is as simple as that.

[Versatile_choice]

~~snip~~

build a modest emergency fund first, then start investing consistently in Bitcoin while continuing to grow your emergency savings over time.

 you can decide to start accumulating bitcoin along side building your emergency funds, for example you can decide to use 60 percent of your discretionary income to to build your emergency funds and then 40 percent of your discretionary income to build your bitcoin investment, and maybe after you have successfully built a very strong emergency funds you can stop and then focus and use all your discretionary income to build your bitcoin investment.
So there’s no need for you to wait after building your emergency funds before starting your bitcoin investment

I largely agree with you superbitman, more especially the part of putting 60% of our discretionary income into emergency fund while the remaining 40% goes into our investment.  I feel it is necessary to go about it this way as it will help us meet up with the standard we want our emergency fund to get quite on time, I know some investors wouldn't mind putting 60% of thier discretionary income into thier bitcoin investment and then put the remaining 40% in their emergency. whichever way, it's not about the percentage but it's about how  consistency they are, Because that's what they need in other to build up thier emergency fund to that standard they want and also meet up thier Investment target.

You can simply do what I said above.

You don't need to force anyone to agree with whatever thing you said even though surely what you're saying it's true, but  I beg you allow them to make the decision by themselves.

[Karl_3000]

Bitcoin price:
₦81,752,912 ($59322 €52,008 £44,777).

I read what everyone have posted after my last post which was a day before yesterday. What you post about is the emergency fund, whether to be in bitcoin or not to be in bitcoin while some people can say they can have some of it in fiat and some in bitcoin together. Just do what is best for yourselves, many people have different opinions about it.

It is also good to also diversify. Gold and silver prices have falling.

[Barikui1]

It is also good to also diversify. Gold and silver prices have falling.

Thinking of diversification is not a bad idea if you have gone far in your accumulation of Bitcoin, but it would makes no sense if your Bitcoin portfolio is not up to $200 and you are talking of diversification, at that point what are you diversifying for, since you have not accumulated enough Bitcoin stash, so focusing on building a bigger stash should be a priority then, than spreading your money on several asset when they are not even worth a total of $500 altogether.

It's good that when you spoke of diversification, you made mentioned of gold and silver, and I also believe that land is another valuable asset to diversify on, not by investing into alt and shit coin as most investors do, and start calling it diversification, because as far as am concern, investment in alt and meme coin are more of gambling than investment.

[Tetu100]

A lot of people treat emergency funds like something people build after you start investment but having it in place first really gives you breathing space.vit makes investing way less stressful because you are not constantly pulling from the Sam pool of money. at this same time , I think for many beginners it's just a timing issue rather than lack of discipline they are trying to balance both at once with limited income.

Even though i support the idea of having emergency funds, i don’t think it would be wise to delay investment just because you have not figured out your emergency funds yet. In an instance where a person’s discretionary income is limited and they are not able to set aside their emergency funds from it, there’s no need to hold off their investments because they can always figure out ways to make their emergency funds available on their next purchase. It will be better to start investing with whatever you can comfortably afford first and then build your back up funds alongside it as your discretionary income allows instead of wasting time waiting to complete one before starting the other.

That's true, we don't have to pressure ourself or make it a must that we must first have our emergency funds in place before investing. That can only limit us  or delay us from making progress in our investment goal. It better to start once the discretionary funds is ready because that the most important thing that we really need to get it started. However, waiting for longtime trying to fix every neccesary funds can sometimes turn one into a longtime procrastinator or even deny you from making steps, so it's better we take proper advantage and do the needful once our discretionary funds is figured out.

[Big Dirams]

A lot of people treat emergency funds like something people build after you start investment but having it in place first really gives you breathing space.vit makes investing way less stressful because you are not constantly pulling from the Sam pool of money. at this same time , I think for many beginners it's just a timing issue rather than lack of discipline they are trying to balance both at once with limited income.

Even though i support the idea of having emergency funds, i don’t think it would be wise to delay investment just because you have not figured out your emergency funds yet. In an instance where a person’s discretionary income is limited and they are not able to set aside their emergency funds from it, there’s no need to hold off their investments because they can always figure out ways to make their emergency funds available on their next purchase. It will be better to start investing with whatever you can comfortably afford first and then build your back up funds alongside it as your discretionary income allows instead of wasting time waiting to complete one before starting the other.

That's true, we don't have to pressure ourself or make it a must that we must first have our emergency funds in place before investing. That can only limit us  or delay us from making progress in our investment goal. It better to start once the discretionary funds is ready because that the most important thing that we really need to get am started. However, waiting for long trying to fix every neccesary funds can sometimes turn one into a longtime procrastinator or even deny you from making steps, so it's better we take proper advantage and do the needful once our discretionary funds is figured out.

Yeah good point we don’t necessarily need to wait to set up our emergency funds before starting our investment journey so far we have availability of our discretionary income then the journey can start as soon as possible and during the journey we can make availability of our emergency funds because it is also an important factor too.
Let not procrastinate our journey over emergency funds we can start our journey without it, the most important factor that can’t keep our investments on hodl is the discretionary income nothing more.

Emergency funds might not look as a priority during the early stage of the investment but it shouldn’t be underestimated during the process because it is important.

[Charles-Tim]

Thinking of diversification is not a bad idea if you have gone far in your accumulation of Bitcoin, but it would makes no sense if your Bitcoin portfolio is not up to $200 and you are talking of diversification, at that point what are you diversifying for, since you have not accumulated enough Bitcoin stash, so focusing on building a bigger stash should be a priority then, than spreading your money on several asset when they are not even worth a total of $500 altogether.

Anyone can start diversifying its portfolio at anytime. An example is 70% bitcoin, 20% gold and silver which is talked about and 10% altcoins portfolio. You can start them with bitcoin accumulation.

But the issue I see is that it is very clear that gold can not give the return that bitcoin can give. Silver can give it but I prefer and trust bitcoin than silver to give higher returns, not in usability.

[Byebyebtc]

A lot of people treat emergency funds like something people build after you start investment but having it in place first really gives you breathing space.vit makes investing way less stressful because you are not constantly pulling from the Sam pool of money. at this same time , I think for many beginners it's just a timing issue rather than lack of discipline they are trying to balance both at once with limited income.

Even though i support the idea of having emergency funds, i don’t think it would be wise to delay investment just because you have not figured out your emergency funds yet. In an instance where a person’s discretionary income is limited and they are not able to set aside their emergency funds from it, there’s no need to hold off their investments because they can always figure out ways to make their emergency funds available on their next purchase. It will be better to start investing with whatever you can comfortably afford first and then build your back up funds alongside it as your discretionary income allows instead of wasting time waiting to complete one before starting the other.

I wish people realize that starting an investment is a very big step that requires lots of emotions and considerations, so at a point where you have the desire to invest it is better you invest at that moment, whether knowledge or emergency funds or whatsoever can come later, some people might say they don't have this or they don't have that and at the end of the day the end up not investing at all, so starting the process will make you to even get to know those things and get those things better.

[Karl_3000]

Bitcoin price:
₦82,963,716 ($60,456 €53,114 £45,270).

I wish people realize that starting an investment is a very big step that requires lots of emotions and considerations, so at a point where you have the desire to invest it is better you invest at that moment, whether knowledge or emergency funds or whatsoever can come later, some people might say they don't have this or they don't have that and at the end of the day the end up not investing at all, so starting the process will make you to even get to know those things and get those things better.

I do not have this or that is still better, some people may not have the money that they can invest on bitcoin which can be an excuse, but there are some people that have the money, but they will keep on saying they will invest but they are not investing until it is finally late, this is one of the reasons I encourage NCA.