Buy Buy Buy or Sell Sell Sell?

[Tonimez]

Those taught are that of traders, it is only a trader that will say when Bitcoin price increases they make will more money because they are scared of losing their money when the price drops.

Trading is never a good strategy of making investments in Bitcoin, and whoever that is interested in trading is not an Investor but a Trader, and even those experienced traders that you think are going to do better than someone who focuses only on investing and accumulating bitcoin are not doing any better so it is misleading to think that experienced traders are going to be more  profitable when involving themselves in Bitcoin trading.

Therefore it is adviceable to avoid and stay out of trading.

One this I have understood is that the knowledge anybody has about bitcoin widely depends on the person or means through which he got into bitcoin exercise. A person who was introduced into bitcoin by a Bitcoin Trader is bound to be a Trader. Some people panic in any slight market shift due to volatility. How on earth is someone still thinking that coins or would continuously be on the rise? It goes up and down. If you can be able to maintain your DCA, then you have the highest discipline anyone can have.

[Moreno233]

Your words are reasonable and instructive!
However, many people think that when the price of Bitcoin is increasing, it is the only way to make money
. But as the market increases, its value increases. The market can rise as much as it can, it can break. The future of Bitcoin can be really bright, but investing is not just about following what others are doing. The right solution is to make decisions based on your own understanding, risk tolerance, time frame, etc. Being patient at the right time can be the most powerful strategy.

Those taught are that of traders, it is only a trader that will say when Bitcoin price increases they make will more money because they are scared of losing their money when the price drops.

Trading is never a good strategy of making investments in Bitcoin, and whoever that is interested in trading is not an Investor but a Trader, and even those experienced traders that you think are going to do better than someone who focuses only on investing and accumulating bitcoin are not doing any better so it is misleading to think that experienced traders are going to be more  profitable when involving themselves in Bitcoin trading.

Therefore it is adviceable to avoid and stay out of trading.

You are not entirely right because both traders and investors wants to make money at the end of the day and the only way that will happen is when the price of Bitcoin increases over the time, although traders want it happen within a short time while investors want it to happen over a long period of time. Part of the reason holding for a long period of time is recommended that it is expected that the longer you hold Bitcoin, the higher your chances of earning more money because Bitcoin have shown that the more you hold, the higher the price gets and the more profits you make.

Bitcoin have also proven to be a good option for people who want to avoid their money from getting eroded by inflation. We know that keeping money in fiat is exposing the money to inflation because all fiat currencies depreciates with time due to inflation. For instance, what $10 could buy five years ago, $10 cannot buy it again today. On the other hand, what 1BTC can buy five years ago, you need just a fraction of Bitcoin to get that today which means Bitcoin is appreciating while fiat os depreciating, hence it is better to keep money in Bitcoin than in fiat.

[Joeboy]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

If you are talking about Bitcoin then you will know that the price isn't static, it changes from time to time. One thing to note how however is that the price don't stay down for too long, before you know it, it bounces up. Well for me this may e a very good time to invest /buy Bitcoin coz it always yield higher value in the long run.

[Jostern]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

If you are talking about Bitcoin then you will know that the price isn't static, it changes from time to time. One thing to note how however is that the price don't stay down for too long, before you know it, it bounces up. Well for me this may e a very good time to invest /buy Bitcoin coz it always yield higher value in the long run.

At some point he needs to be very specific about what coin he is talking about, and you don’t have to conclude that he is talking about bitcoin, he might probably be talking about some shitcoin you wouldn’t know them you’ve to know what he is emphasizing on, maybe you never can tell that he hasn’t heard about bitcoin then you’ve to tell him about bitcoin, if someone buys a coin and not quite long whatever happens it get low, and drops in value, if you’re referring to bitcoin then you’ve to keep accumulating consistently not minding the situation on ground, and most importantly keep holding for a long term instead of panicking.

[Fara Chan]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

If you are asking about the desire to buy, then buy Bitcoin because Bitcoin is still very much worth buying right now and you don't have to think about when to sell it again after making the purchase. But if you are asking about the desire to sell that you may not be holding Bitcoin, it is indeed better to sell it immediately and then the proceeds from the sale of the altcoin can be used directly to buy Bitcoin. So for certain conditions or whatever conditions, you have to make sure about which coins you have bought and also which coins you have not sold.

If you are talking about Bitcoin then you will know that the price isn't static, it changes from time to time. One thing to note how however is that the price don't stay down for too long, before you know it, it bounces up. Well for me this may e a very good time to invest /buy Bitcoin coz it always yield higher value in the long run.

For Bitcoin, there is only one thing we need to think about, which is to buy it at any time if we have more financial ability, but if we do not have more financial ability, then trying to buy it regularly every week or every two weeks is also a very good way to do it because for Bitcoin everyone does not have to bother too much to determine the time to sell it because the important job is to buy and store it safely. But for others (altcoins), I think there is no need to store it for too long because when there is a little profit, it can be sold immediately without any tolerance.

[Bluedrem]

Investing your emergency funds looks a bit new to me, ordinarily i was thinking it was cash reserve you can fall back on hence there is real emergency, but investing in gold that is still prone to heavy market instability shouldn't be seen as emergency funds, in my own view, if it gets to the point you would have to put your emergency funds in gold reserve as an investment, why not just empty everything into your bitcoin investment at once since it's already looking like the emergency funds can be invested.

A pretty good question from you for me so I can explain it in more detail. First of all, I am a person who is not immediately tempted by other people's views on anything so I tend to make my own views or ways in anything including in terms of providing funds for investment capital in Bitcoin and also providing funds for emergencies. And what you also need to understand is that an emergency fund is a fund that is saved to deal with emergencies in life when they happen because emergencies do not happen to us all the time.

So the money that we consider as emergency funds does not mean that it cannot be used to be converted into other forms such as gold because gold assets are also assets that are quite stable in price and are also easier to sell at any time and I do not consider it as an investment because gold is a safe haven asset. That is why I never mix every fund that I want to use for different things so that I still often divide funds into three parts for different things, the first for investment capital and the second for the emergency fund and the third is in the form of cash for me to use as daily shopping needs in life.

Emergency fund is to protect our saved Bitcoin. Situations are not always the same, we have to go through many bad times in our lives. If we go through a time like we need a lot of money or your source of income is over, we create an emergency fund so that we don't have to sell the holdings or saved Bitcoin to deal with that time.

I think it is always good to keep an emergency fund in cash. Because suppose if someone suddenly falls ill and needs money very urgently for his treatment, what will you do at that time. It is never right to convert the money kept for an emergency fund into something else.

Yes, you are absolutely right.
It is essential to have an emergency fund in cash.
Let me tell you a real story about this -
A man in our area had some money and bought a few cows with it. Later, he spent all his earnings on feeding the cows and supporting his family.
One day, he needed to buy a piece of land and he had to do it in a very short time.
To raise money in a short time, he had to sell the cows at a low price and the price was very low.

Here it is seen that he had to sell his cows at a low price because he did not have alternative funds.

We know that Bitcoin has to be held for a long time, so to achieve the desired profit from Bitcoin, it has to be held for a long time.
Therefore, so that the Bitcoin holding does not have to be broken at the time of need, an alternative fund must be created.

[Aanuoluwatofunmi]

Trading is never a good strategy of making investments in Bitcoin, and whoever that is interested in trading is not an Investor but a Trader, and even those experienced traders that you think are going to do better than someone who focuses only on investing and accumulating bitcoin are not doing any better so it is misleading to think that experienced traders are going to be more  profitable when involving themselves in Bitcoin trading.

I used to advise on several occasion that we don't mixed things up, choosing between whom you want to become is very important, because you cant claimed to be knowledgeable about what is required and still do the wrong thing to expect maximum result, this is very simple to understand, trading is another context entirely, which we should know that a trader is a short time holder, exchanges from one currency pair to another with the aim of making money.

This is obviously a different situation when it comes to being an investor, because you will find your self a holder and not a trader here in this situation, you can always acquire your asset into your portfolio by many strategies, which you choose between the best one you could adopt for your accumulation as an investor, all these will have to start form you defining between what you want to become, a trader or an investor, then how equipped and ready are you to deliver from that aspect that inspires you, before making your final decision.

[Spaceman1000$]

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

Some people find bitcoin very interesting when the price is increasing steadily, this is the time they would really want to invest because of imagination of the profits to gain if bitcoin is invested as  the price is increasing. The mistake some people normally make in bitcoin is to wait for the bull season before investing and this is just selfishness because the only reason for this is just to make money quick from bitcoin.

Bitcoin is volatile and unpredictable,  this period people should not be selfish and go into the market with amount that they can't afford to lose. The increase of price of bitcoin should not be a reason for one to invest all they have or the amount that can't be afford to lose.

Ii is very important for people to be conscious and not to be carry away with the price increase of bitcoin to invest much to make gains for themselves.  Invest what you can afford to lose , this formula has really helped so many people.

Your words are reasonable and instructive!
However, many people think that when the price of Bitcoin is increasing, it is the only way to make money
. But as the market increases, its value increases. The market can rise as much as it can, it can break. The future of Bitcoin can be really bright, but investing is not just about following what others are doing. The right solution is to make decisions based on your own understanding, risk tolerance, time frame, etc. Being patient at the right time can be the most powerful strategy.

Those taught are that of traders, it is only a trader that will say when Bitcoin price increases they make will more money because they are scared of losing their money when the price drops.

Trading is never a good strategy of making investments in Bitcoin, and whoever that is interested in trading is not an Investor but a Trader, and even those experienced traders that you think are going to do better than someone who focuses only on investing and accumulating bitcoin are not doing any better so it is misleading to think that experienced traders are going to be more  profitable when involving themselves in Bitcoin trading.

Therefore it is adviceable to avoid and stay out of trading.

In as much as traders predict or do their job of predicted the price fluctuation of bitcoin, they are not the only one that wants the value of bitcoin to increase, investors too want to see an increase in value in the asset they have, remember that they didn't invest for the mere sake of investing, they invested because they saw potentials, in the realm of their foresightedness, they believe this asset has all the trappings to give them substantial return on investment. So I believe @HOPE25 was emphasize on the need for you as an investor to understand that the market can rise and can break so it's good to have your own understanding and not just go with the bandwagon, so you could know your risk tolerance and the level of perseverance you should have an investor.

[JayJuanGee]

Investing your emergency funds looks a bit new to me, ordinarily i was thinking it was cash reserve you can fall back on hence there is real emergency, but investing in gold that is still prone to heavy market instability shouldn't be seen as emergency funds, in my own view, if it gets to the point you would have to put your emergency funds in gold reserve as an investment, why not just empty everything into your bitcoin investment at once since it's already looking like the emergency funds can be invested.

Why are you calling it emergency funds when you know you still going to invest in money in other things? Either gold or other investment, don’t invest your emergency funds in them, because if their is an emergency case, you are going to regret why you decided to invest the money which is suppose to be used in taking care of any emergency when the need arises. If you decide to invest your emergency funds in bitcoin or other coins, when you need the money, then you might be selling at lose because you won’t really have choice at that moment than to sell even if you are in big loss. My emergency funds are always in my local currency, and it’s always in my bank account.

I made a comment regarding diversification few days ago which I have quoted below.

Well I am not sure for others but for me I think investors especially new investors should focus on Bitcoin investment first and keep accumulating as much as they can because managing multiple investment requires a certain level of experience and financial stability. So before diversifying you should ensure that your investment goals are clear and won't be compromised. If it will be affected then it's better to prioritize accumulating more Bitcoin until you have achieved what you are set out to do or at least reach a certain level that won't be affect your goals.

No need to rush into diversifying, there is no deadline. You can always diversify when it's safer.

Some people fail to understand that emergency funds are meant for emergency situations and if they must diversify they can't rely on their emergency funds else they will compromise all their investments. Managing two investment even with emergency funds is not so easy then think of managing them without any emergency funds.

Putting your emergency funds into Gold is not ideal and can't be regarded as emergency fund anymore rather another form of investment on it own. Doing so will definitely affect your investment when emergency situations come it make managing it very difficult and you will ending touching part of your investment which will lead to your investment plan being compromised and your investment goals not achieved.

Many of us likely know that best practices is to keep emergency funds in your local currency, yet there are folks who will keep emergency funds in dollars rather than their local currency or they might keep emergency funds in some other form that they consider to be liquid, and sure gold might be o.k. for part of the emergency funds.. if maybe you might spend from your gold before spending from your bitcoin and sure gold could be somewhat liquid depending on where it is held.. yet at the same time, there could end up being downward volatility with gold when you need the funds, yet I don't consider it completely outrageous to keep some emergency funds in gold.. and ultimately guys have to decide these kinds of things, including that there are some guys who fail to create and maintain any emergency fund, so then by default their emergency funds end up being their bitcoin, which surely could end up causing them to get partially or completely wrecked.. so they are taking decently high chances when they keep their emergency funds in any currency other than their local currency.. yet even with some local currencies, guys do not want to keep more than a week or two in their local currency if they currency does not tend to hold its value very well..

[Bluedrem]

Investing your emergency funds looks a bit new to me, ordinarily i was thinking it was cash reserve you can fall back on hence there is real emergency, but investing in gold that is still prone to heavy market instability shouldn't be seen as emergency funds, in my own view, if it gets to the point you would have to put your emergency funds in gold reserve as an investment, why not just empty everything into your bitcoin investment at once since it's already looking like the emergency funds can be invested.

Why are you calling it emergency funds when you know you still going to invest in money in other things? Either gold or other investment, don’t invest your emergency funds in them, because if their is an emergency case, you are going to regret why you decided to invest the money which is suppose to be used in taking care of any emergency when the need arises. If you decide to invest your emergency funds in bitcoin or other coins, when you need the money, then you might be selling at lose because you won’t really have choice at that moment than to sell even if you are in big loss. My emergency funds are always in my local currency, and it’s always in my bank account.

I made a comment regarding diversification few days ago which I have quoted below.

Well I am not sure for others but for me I think investors especially new investors should focus on Bitcoin investment first and keep accumulating as much as they can because managing multiple investment requires a certain level of experience and financial stability. So before diversifying you should ensure that your investment goals are clear and won't be compromised. If it will be affected then it's better to prioritize accumulating more Bitcoin until you have achieved what you are set out to do or at least reach a certain level that won't be affect your goals.

No need to rush into diversifying, there is no deadline. You can always diversify when it's safer.

Some people fail to understand that emergency funds are meant for emergency situations and if they must diversify they can't rely on their emergency funds else they will compromise all their investments. Managing two investment even with emergency funds is not so easy then think of managing them without any emergency funds.

Putting your emergency funds into Gold is not ideal and can't be regarded as emergency fund anymore rather another form of investment on it own. Doing so will definitely affect your investment when emergency situations come it make managing it very difficult and you will ending touching part of your investment which will lead to your investment plan being compromised and your investment goals not achieved.

Many of us likely know that best practices is to keep emergency funds in your local currency, yet there are folks who will keep emergency funds in dollars rather than their local currency or they might keep emergency funds in some other form that they consider to be liquid, and sure gold might be o.k. for part of the emergency funds.. if maybe you might spend from your gold before spending from your bitcoin and sure gold could be somewhat liquid depending on where it is held.. yet at the same time, there could end up being downward volatility with gold when you need the funds, yet I don't consider it completely outrageous to keep some emergency funds in gold.. and ultimately guys have to decide these kinds of things, including that there are some guys who fail to create and maintain any emergency fund, so then by default their emergency funds end up being their bitcoin, which surely could end up causing them to get partially or completely wrecked.. so they are taking decently high chances when they keep their emergency funds in any currency other than their local currency.. yet even with some local currencies, guys do not want to keep more than a week or two in their local currency if they currency does not tend to hold its value very well..

We often do a lot of work without preplanning, we do it without thinking about what will happen 2/3/4 weeks, months, years after doing the work? We work without thinking about what can happen which later makes us face difficult problems.
Most of the time we invest our emergency fund in the wrong place due to which we have to pay later.

We do not understand which type of collection should be invested in which sector.

I think everyone should do a lot of study on this before investing.

[JayJuanGee]

Investing your emergency funds looks a bit new to me, ordinarily i was thinking it was cash reserve you can fall back on hence there is real emergency, but investing in gold that is still prone to heavy market instability shouldn't be seen as emergency funds, in my own view, if it gets to the point you would have to put your emergency funds in gold reserve as an investment, why not just empty everything into your bitcoin investment at once since it's already looking like the emergency funds can be invested.

Why are you calling it emergency funds when you know you still going to invest in money in other things? Either gold or other investment, don’t invest your emergency funds in them, because if their is an emergency case, you are going to regret why you decided to invest the money which is suppose to be used in taking care of any emergency when the need arises. If you decide to invest your emergency funds in bitcoin or other coins, when you need the money, then you might be selling at lose because you won’t really have choice at that moment than to sell even if you are in big loss. My emergency funds are always in my local currency, and it’s always in my bank account.

I made a comment regarding diversification few days ago which I have quoted below.

Well I am not sure for others but for me I think investors especially new investors should focus on Bitcoin investment first and keep accumulating as much as they can because managing multiple investment requires a certain level of experience and financial stability. So before diversifying you should ensure that your investment goals are clear and won't be compromised. If it will be affected then it's better to prioritize accumulating more Bitcoin until you have achieved what you are set out to do or at least reach a certain level that won't be affect your goals.

No need to rush into diversifying, there is no deadline. You can always diversify when it's safer.

Some people fail to understand that emergency funds are meant for emergency situations and if they must diversify they can't rely on their emergency funds else they will compromise all their investments. Managing two investment even with emergency funds is not so easy then think of managing them without any emergency funds.

Putting your emergency funds into Gold is not ideal and can't be regarded as emergency fund anymore rather another form of investment on it own. Doing so will definitely affect your investment when emergency situations come it make managing it very difficult and you will ending touching part of your investment which will lead to your investment plan being compromised and your investment goals not achieved.

Many of us likely know that best practices is to keep emergency funds in your local currency, yet there are folks who will keep emergency funds in dollars rather than their local currency or they might keep emergency funds in some other form that they consider to be liquid, and sure gold might be o.k. for part of the emergency funds.. if maybe you might spend from your gold before spending from your bitcoin and sure gold could be somewhat liquid depending on where it is held.. yet at the same time, there could end up being downward volatility with gold when you need the funds, yet I don't consider it completely outrageous to keep some emergency funds in gold.. and ultimately guys have to decide these kinds of things, including that there are some guys who fail to create and maintain any emergency fund, so then by default their emergency funds end up being their bitcoin, which surely could end up causing them to get partially or completely wrecked.. so they are taking decently high chances when they keep their emergency funds in any currency other than their local currency.. yet even with some local currencies, guys do not want to keep more than a week or two in their local currency if they currency does not tend to hold its value very well..

We often do a lot of work without preplanning, we do it without thinking about what will happen 2/3/4 weeks, months, years after doing the work? We work without thinking about what can happen which later makes us face difficult problems.
Most of the time we invest our emergency fund in the wrong place due to which we have to pay later.

We do not understand which type of collection should be invested in which sector.

I think everyone should do a lot of study on this before investing.

I think that you are coming to the wrong conclusion Bluedrem, and that the better course of action is to get the fuck stared rather than studying the matter, and surely, one of the problems of poor people is that they fail/refuse to create and to maintain emergency funds, and so rich people have the advantage of having all kinds of resources and emergency funds to fall back upon if they fuck up, yet poor people get shaken out of their BTC investment when the fail/refuse to make sure that they are more organized than the rich person in order to protect themselves. 

You do not need to study the bitcoin matter and/or the cashflow management matter in order to get started investing into bitcoin sooner rather than later (as long as you have a discretionary income) and stop procrastinating whether you are a rich person, poor person or some other category of person who happens to not have enough BTC yet has a discretionary income, which is about 99% of the world's population does not have enough or any bitcoin, currently.

[Merit.s]

Investing your emergency funds looks a bit new to me, ordinarily i was thinking it was cash reserve you can fall back on hence there is real emergency, but investing in gold that is still prone to heavy market instability shouldn't be seen as emergency funds, in my own view, if it gets to the point you would have to put your emergency funds in gold reserve as an investment, why not just empty everything into your bitcoin investment at once since it's already looking like the emergency funds can be invested.

Why are you calling it emergency funds when you know you still going to invest in money in other things? Either gold or other investment, don’t invest your emergency funds in them, because if their is an emergency case, you are going to regret why you decided to invest the money which is suppose to be used in taking care of any emergency when the need arises. If you decide to invest your emergency funds in bitcoin or other coins, when you need the money, then you might be selling at lose because you won’t really have choice at that moment than to sell even if you are in big loss. My emergency funds are always in my local currency, and it’s always in my bank account.

I made a comment regarding diversification few days ago which I have quoted below.

Well I am not sure for others but for me I think investors especially new investors should focus on Bitcoin investment first and keep accumulating as much as they can because managing multiple investment requires a certain level of experience and financial stability. So before diversifying you should ensure that your investment goals are clear and won't be compromised. If it will be affected then it's better to prioritize accumulating more Bitcoin until you have achieved what you are set out to do or at least reach a certain level that won't be affect your goals.

No need to rush into diversifying, there is no deadline. You can always diversify when it's safer.

Some people fail to understand that emergency funds are meant for emergency situations and if they must diversify they can't rely on their emergency funds else they will compromise all their investments. Managing two investment even with emergency funds is not so easy then think of managing them without any emergency funds.

Putting your emergency funds into Gold is not ideal and can't be regarded as emergency fund anymore rather another form of investment on it own. Doing so will definitely affect your investment when emergency situations come it make managing it very difficult and you will ending touching part of your investment which will lead to your investment plan being compromised and your investment goals not achieved.

Many of us likely know that best practices is to keep emergency funds in your local currency, yet there are folks who will keep emergency funds in dollars rather than their local currency or they might keep emergency funds in some other form that they consider to be liquid, and sure gold might be o.k. for part of the emergency funds.. if maybe you might spend from your gold before spending from your bitcoin and sure gold could be somewhat liquid depending on where it is held.. yet at the same time, there could end up being downward volatility with gold when you need the funds, yet I don't consider it completely outrageous to keep some emergency funds in gold.. and ultimately guys have to decide these kinds of things, including that there are some guys who fail to create and maintain any emergency fund, so then by default their emergency funds end up being their bitcoin, which surely could end up causing them to get partially or completely wrecked.. so they are taking decently high chances when they keep their emergency funds in any currency other than their local currency.. yet even with some local currencies, guys do not want to keep more than a week or two in their local currency if they currency does not tend to hold its value very well..

We often do a lot of work without preplanning, we do it without thinking about what will happen 2/3/4 weeks, months, years after doing the work? We work without thinking about what can happen which later makes us face difficult problems.
Most of the time we invest our emergency fund in the wrong place due to which we have to pay later.

We do not understand which type of collection should be invested in which sector.

I think everyone should do a lot of study on this before investing.

As long as you have a means of income and after you have taken out your monthly expenses and needs out from your income, if you still have leftover funds, you can use that to invest into bitcoin because that's your discretionary income which some people spend on whatever they love. Some use this funds to drink, club, go to the bitcoin e.t.c. It's wise to use such funds for bitcoin investment and keep on buying regularly weekly, consistently and persistently for 4-10 years and above.

No matter as little as $10 and above, as long as you can hodli and don't sell, you will be surprised at the quantity of bitcoin that you would have accumulated overtime. There is power in little gathering because it will pile up to a great height beyond your imagination. Therefore, there's no need of waiting to learn a lot about bitcoin when you can get started and learn along the line as you are investing with DCA because you are on a long-term journey and have all the time to learn whatever you want to know about bitcoin.

Setting up your emergency funds is also important as you have started your bitcoin investment so that you don't sell your bitcoin when an unforeseen circumstance arises. This is why you need to set up an emergency of at least three months of your income. You can divide your discretionary income into two part, DCA weekly with one part and use the other part to be building your emergency funds till it gets to three months of your income. Cash flow management is important and also looking for other means to increase your income will increase your financial strength so that you can increase the amount that you are using to DCA in order for you to reach your bitcoin target faster.

Bitcoin investment is one of the best to throw some value into for the future because bitcoin is still in her early days and the price increases overtime, so don't miss out this opportunity to accumulate bitcoin for your future. What will it profit you to gain almost all the bitcoin knowledge and nothing to show for it.

[Tungbulu]

I think that you are coming to the wrong conclusion Bluedrem, and that the better course of action is to get the fuck stared rather than studying the matter, and surely, one of the problems of poor people is that they fail/refuse to create and to maintain emergency funds, and so rich people have the advantage of having all kinds of resources and emergency funds to fall back upon if they fuck up, yet poor people get shaken out of their BTC investment when the fail/refuse to make sure that they are more organized than the rich person in order to protect themselves. 

You do not need to study the bitcoin matter and/or the cashflow management matter in order to get started investing into bitcoin sooner rather than later (as long as you have a discretionary income) and stop procrastinating whether you are a rich person, poor person or some other category of person who happens to not have enough BTC yet has a discretionary income, which is about 99% of the world's population does not have enough or any bitcoin, currently.

You're absolutely correct, overthinking can indeed potentially lead to paralysis. The best way to get started is to take the first step, even if those steps are very small, at least it's better than waiting for a perfect time that may likely not even come. Bitcoin accumulation and building an emergency fund can actually be done simultaneously, I actually created a topic on how this could be achieved. Having a solid financial backup or safety net can indeed provide peace of mind and also reduce stress too, it allows you to think straight and take more calculated decisions and risks with your investment.
I couldn't agree more with you point about not having to first study extensively before getting started in Bitcoin investment, and this is in fact one of the biggest misconceptions that majority (who plan to get started) often have about Bitcoin investment. It is very possible and even advisable for people to invest in Bitcoin with their discretionary income, regardless of their financial status. Most of the times, the most important step in everyone's journey is that first step of getting started first, and every other thing can actually fall in place later on. By taking action and commit themselves to consistent accumulation, investors as they proceed and advance, can learn and also adapt to the situation.

It's important to note that many people who are successful Bitcoin investors today didn't wait till they gain all the knowledge about investment first before getting started, financial literacy and experience can actually be developed overtime. Starting small and staying consistent can really help in building one's knowledge and confidence as they advance further.

[Nheer]

snip

Why are you calling it emergency funds when you know you still going to invest in money in other things? Either gold or other investment, don’t invest your emergency funds in them, because if their is an emergency case, you are going to regret why you decided to invest the money which is suppose to be used in taking care of any emergency when the need arises. If you decide to invest your emergency funds in bitcoin or other coins, when you need the money, then you might be selling at lose because you won’t really have choice at that moment than to sell even if you are in big loss. My emergency funds are always in my local currency, and it’s always in my bank account.

I made a comment regarding diversification few days ago which I have quoted below.

Well I am not sure for others but for me I think investors especially new investors should focus on Bitcoin investment first and keep accumulating as much as they can because managing multiple investment requires a certain level of experience and financial stability. So before diversifying you should ensure that your investment goals are clear and won't be compromised. If it will be affected then it's better to prioritize accumulating more Bitcoin until you have achieved what you are set out to do or at least reach a certain level that won't be affect your goals.

No need to rush into diversifying, there is no deadline. You can always diversify when it's safer.

Some people fail to understand that emergency funds are meant for emergency situations and if they must diversify they can't rely on their emergency funds else they will compromise all their investments. Managing two investment even with emergency funds is not so easy then think of managing them without any emergency funds.

Putting your emergency funds into Gold is not ideal and can't be regarded as emergency fund anymore rather another form of investment on it own. Doing so will definitely affect your investment when emergency situations come it make managing it very difficult and you will ending touching part of your investment which will lead to your investment plan being compromised and your investment goals not achieved.

Many of us likely know that best practices is to keep emergency funds in your local currency, yet there are folks who will keep emergency funds in dollars rather than their local currency or they might keep emergency funds in some other form that they consider to be liquid, and sure gold might be o.k. for part of the emergency funds.. if maybe you might spend from your gold before spending from your bitcoin and sure gold could be somewhat liquid depending on where it is held.. yet at the same time, there could end up being downward volatility with gold when you need the funds, yet I don't consider it completely outrageous to keep some emergency funds in gold.. and ultimately guys have to decide these kinds of things, including that there are some guys who fail to create and maintain any emergency fund, so then by default their emergency funds end up being their bitcoin, which surely could end up causing them to get partially or completely wrecked.. so they are taking decently high chances when they keep their emergency funds in any currency other than their local currency.. yet even with some local currencies, guys do not want to keep more than a week or two in their local currency if they currency does not tend to hold its value very well..

On a second thought I think you're right, keeping emergency funds in our local currencies is the best practice but keeping your emergency funds in gold is not  totally wrong if the volatility is reasonable and can actually hold it's value but it's still a decision that needs to be thought out carefully considering the fact that it is also volatile. It's wrong to not have any emergency funds at all to back up your investment, if your Bitcoin is your emergency fund then your investment plan will definitely be affected along the way and you end up being stressed financially.

We often do a lot of work without preplanning, we do it without thinking about what will happen 2/3/4 weeks, months, years after doing the work? We work without thinking about what can happen which later makes us face difficult problems.
Most of the time we invest our emergency fund in the wrong place due to which we have to pay later.

We do not understand which type of collection should be invested in which sector.

I think everyone should do a lot of study on this before investing.

Emergency funds are really meant to be a safety net for unexpected expenses or financial emergencies. They're not supposed to be invested or used for generating returns. We should keep them separate from our investments that way we can ensure that we have a backup plan in place, without having to dip into our investments and disrupt our long-term plans. That way we can have peace of mind knowing that we're prepared for whatever life throws our way.

No much studying is needed for Bitcoin investment, once we understand how to manage and set up our wallet and safe guard it then we are good to invest when we have discretionary income and emergency funds all sorted.

[Zackz5000]

I think everyone should do a lot of study on this before investing.

It has been emphasis here severally that you don't need to study much about bitcoin investment before getting started besides investing doesn't require deep knowledge before you can accumulating Bitcoin with the little you know about bitcoin investment you can get started if you have your discretionary income ready and then learn more along the process, sometimes trying to know all about bitcoin investment before getting started might lead to procastination of not even getting started before you realize your self you might use up your discretionary income which you would have to get started with for other unnecessary purposes, so getting started when the opportunity is there is very unique.

[Bluedrem]

We often do a lot of work without preplanning, we do it without thinking about what will happen 2/3/4 weeks, months, years after doing the work? We work without thinking about what can happen which later makes us face difficult problems.
Most of the time we invest our emergency fund in the wrong place due to which we have to pay later.

We do not understand which type of collection should be invested in which sector.

I think everyone should do a lot of study on this before investing.

I think that you are coming to the wrong conclusion Bluedrem, and that the better course of action is to get the fuck stared rather than studying the matter, and surely, one of the problems of poor people is that they fail/refuse to create and to maintain emergency funds, and so rich people have the advantage of having all kinds of resources and emergency funds to fall back upon if they fuck up, yet poor people get shaken out of their BTC investment when the fail/refuse to make sure that they are more organized than the rich person in order to protect themselves. 

You do not need to study the bitcoin matter and/or the cashflow management matter in order to get started investing into bitcoin sooner rather than later (as long as you have a discretionary income) and stop procrastinating whether you are a rich person, poor person or some other category of person who happens to not have enough BTC yet has a discretionary income, which is about 99% of the world's population does not have enough or any bitcoin, currently.

Sorry, I may not have explained it that way. Every person wants to get rid of their poverty and live a good life, so they invest in different places at different times for good profit. I just wanted to say that they have to be more careful than others in their investments. Because they do not have the option to make mistakes.

So will they not invest? So can a poor person not become rich? I actually meant that a mistake of poor people can end their everything, so they should think at least a thousand times in any work whether what they are doing is right or not.

Even if the rich make a mistake a few times, they have a chance to turn around, but a mistake of the poor makes them lose hope.

So will they not invest?
In my opinion, who should definitely invest in Bitcoin, and they should definitely invest to give their future generations a beautiful day.

Now let's see where they will invest. Their income is low, even if they invest, how will they keep it? They have to resort to hiring, in which case they can save a very small amount of the money they earn in Bitcoin every week, month or year. They can keep the remaining money as a life support and emergency fund.

In this way, it will be seen that in the end, their small amount of saved Bitcoin will show the light to their next generation, they may be able to come out of poverty.

[Ricardo11]

I think everyone should do a lot of study on this before investing.

It has been emphasis here severally that you don't need to study much about bitcoin investment before getting started besides investing doesn't require deep knowledge before you can accumulating Bitcoin with the little you know about bitcoin investment you can get started if you have your discretionary income ready and then learn more along the process, sometimes trying to know all about bitcoin investment before getting started might lead to procastination of not even getting started before you realize your self you might use up your discretionary income which you would have to get started with for other unnecessary purposes, so getting started when the opportunity is there is very unique.

It is never reasonable to delay investing in Bitcoin, if you have the ability, then invest in Bitcoin first without worrying about the market, even though Bitcoin shows a lot of volatility in the short term, it is very valuable in the long term, so start investing first, because the current opportunity may never come back. There is no need to gain deep knowledge about Bitcoin before investing, a real investor first invests in Bitcoin by gaining general knowledge about Bitcoin, then he can go for research about Bitcoin if he wants, but do not miss the good opportunity of investment to gain deep knowledge before starting investment.

[Bluedrem]

I think everyone should do a lot of study on this before investing.

It has been emphasis here severally that you don't need to study much about bitcoin investment before getting started besides investing doesn't require deep knowledge before you can accumulating Bitcoin with the little you know about bitcoin investment you can get started if you have your discretionary income ready and then learn more along the process, sometimes trying to know all about bitcoin investment before getting started might lead to procastination of not even getting started before you realize your self you might use up your discretionary income which you would have to get started with for other unnecessary purposes, so getting started when the opportunity is there is very unique.

Is this applicable to everyone? Here we are talking about how poor people can invest in Bitcoin without having to spend their emergency funds so that they do not lose their Bitcoin easily.

A wealthy person can save their earned money in a few steps, while a poor person cannot, so he has to consider many aspects when investing. For example, if a person's monthly savings amount is $100, he can invest $100 in this case, he has to keep an eye on the emergency fund.
I just wanted to point out that he should never invest the entire $100 in Bitcoin because in case he needs some emergency money, he may not be able to collect money from any other source and have to convert Bitcoin into fiat currency, then he may not get the value obtained from Bitcoin.
Therefore, he should invest five, ten, or 15% of that $100 in Bitcoin and keep the rest invested in local currency or gold as an emergency fund so that he can use it when needed.

[Y3shot]

I think everyone should do a lot of study on this before investing.

It has been emphasis here severally that you don't need to study much about bitcoin investment before getting started besides investing doesn't require deep knowledge before you can accumulating Bitcoin with the little you know about bitcoin investment you can get started if you have your discretionary income ready and then learn more along the process, sometimes trying to know all about bitcoin investment before getting started might lead to procastination of not even getting started before you realize your self you might use up your discretionary income which you would have to get started with for other unnecessary purposes, so getting started when the opportunity is there is very unique.

The more important thing is to understand the volatility of the market because this used to be a problem for new investors. Seeing how the price of bitcoin drops makes some investors panic because they think their money will be lost due to the fall in price. But when there is an understanding of the value of bitcoin and market volatility, one won't be afraid when the price of bitcoin fluctuates. If this understanding is not there, it is impossible to invest in bitcoin. It is true that one doesn't have to acquire all the knowledge before investing in bitcoin, but there are some important concepts that every beginner needs; at least this will help one to invest well.

[GIF-JOBS]

I think everyone should do a lot of study on this before investing.

It has been emphasis here severally that you don't need to study much about bitcoin investment before getting started besides investing doesn't require deep knowledge before you can accumulating Bitcoin with the little you know about bitcoin investment you can get started if you have your discretionary income ready and then learn more along the process, sometimes trying to know all about bitcoin investment before getting started might lead to procastination of not even getting started before you realize your self you might use up your discretionary income which you would have to get started with for other unnecessary purposes, so getting started when the opportunity is there is very unique.

The more important thing is to understand the volatility of the market because this used to be a problem for new investors. Seeing how the price of bitcoin drops makes some investors panic because they think their money will be lost due to the fall in price. But when there is an understanding of the value of bitcoin and market volatility, one won't be afraid when the price of bitcoin fluctuates. If this understanding is not there, it is impossible to invest in bitcoin. It is true that one doesn't have to acquire all the knowledge before investing in bitcoin, but there are some important concepts that every beginner needs; at least this will help one to invest well.

Those who see the volatility of Bitcoin's price as a big problem will never be able to properly maintain their investment during volatility. Volatility is not something to be afraid of, volatility is an opportunity to buy at a lower price, but an investor must understand these things, because without proper understanding, they will not be able to make the right decisions, which can cause big losses for them in the long run. Therefore, before starting an investment, you must have knowledge about the basics, so that at least during volatility you can be tempted to buy more instead of selling.