Buy Buy Buy or Sell Sell Sell?

[Bluedrem]

I have talked about the investment strategies of the rich and the poor in Bitcoin above.

Let's say a son of a rich family starts earning after reaching a certain age and he earns $2000 per month. Since he is the son of a rich family, his family must have some previous savings. Suppose his family's previous savings are "X" dollars and he can save $200 per month from there to earn now. Then in the first month of his income, the savings will be =(X+200) dollars. After a year, it will be =(X+2400) dollars.

Now let's come to the case of a son of a poor family, let's say he also earns $200 per month like the son of a rich family. Since his family has no previous savings, in this case, if he saves $200 per month, excluding his incidental expenses, then his savings in the first month of earning will be =$200. After a year, the savings will be =$2400.

Now if we review the issues, we will see that if the boy from the first family keeps the savings left by his family - "X" dollars as an emergency fund, then later he will be able to invest the entire amount of money he is saving every month in Bitcoin or other areas.
And in the case of the second family, from the savings he is saving every month, he will have to save a certain part in his emergency fund and the remaining part he can invest in trees or other areas.

In this case, I mean that the boy from the first family can invest his current earned money with as much thought as he can, while the boy from the second family will have to invest his saved money with a thousand times more thought because he has no previous savings that will provide him with financial security later.

This was my previous post.

I actually wanted to talk about the reality of rich and poor investing in Bitcoin and raising emergency funds.

You have to attempt to use your best judgment. If you have absolutely no savings, then surely you are starting from zero, yet we know that to invest into bitcoin at all you have to have some reasonable ability to assess and conclude that you have discretionary income, and by definition, discretionary income is money that is left over after you have accounted for all of your expenses. If you are trying to invest into bitcoin from money that you need for expenses, then you do not have discretionary income and so you should not be investing into bitcoin.. because you would merely be taking chances with money that you actually need to cover expenses.

For practical purposes, I frequently like to presume that even the poorest of people will tend to try to have some kind of a cash cushion to try to cover 2-6 weeks of their living expenses in case their income really were to dry up.. so in some sense, if a guy does not even have 2 weeks of living expenses that are saved up, then he may well not even have enough discretionary income to be able to justify investing into bitcoin.

So, there is a need to establish that you have discretionary income to even justify investing into bitcoin at all, and so even though people can do whatever they like, I don't recommend investing into bitcoin if you do not have discretionary income or if you are not sure... If you are not sure, then it is better not not invest into bitcoin with money that you may well need for expenses.

Once you figure out that you have discretionary income and you decide that you want to invest into bitcoin, then frequently I suffest that at minimum, you should be striving to protect your bitcoin investment by simultaneously building your emergency funds and your investment into bitcoin at the same rate until you get up to 3 months of expenses and the equivalent of three months of your expenses invested into bitcoin.. and sure the bitcoin side of the matter may well go up and down in value more than the part that you are keeping in fiat... so if you ONLY have $10 per week of discretionary income that you are able to invest into bitcoin, you may well have to invest half of that $5 into your emergency fund and $5 into bitcoin.

You have to figure out some reasonable way of balancing out these matters, and there could be some flexibility even if the matter is also simultaneously stressful.

Let's say that you have considered that your monthly expenses are right around $300, so to build up your emergency funds for 3 months that would be $900 invested into the emergency funds and $900 invested into bitcoin, yet if you are ONLY investing $5 per week into each, then it could take 180 weeks for you to have had invested $900 into each.. which surely is right around 3.5 years... so surely it could take a long time to build up both your emergency funds and your bitcoin especially if you are ONLY putting $5 per week into each.

surely there could be times in which you come accross more money, and you might come to bitcoin and you already have around $300 of emergency funds but you have no bitcoin, so you might choose to put $8 per week into bitcoin and $2 per week into your emergency fund, or maybe you decide to put $10 per week into your bitcoin for 30weeks until it reaches $300 invested, and then after those first 30 weeks you then decide to put $5 into each until the emergency funds reach $900 and then at that point, you may well invest $10 into bitcoin and  you no longer need to keep adding to your emergency funds.  None of us can tell you exactly how to do it, yet if you fuck things up, you are the one who suffers the consequences, so you have to figure out some kind of a balance that you consider to be reasonably prudent and perhaps even reasonably aggressive in regards to investing into bitcoin at the same time.

Thanks to you, I now fully understand the subject, and I can now adopt the right approach to investing.

[Futurexxx]

Emergency fund is not for investing, and even though guys can do whatever they like, they are going to be just putting themselves into bad situations if they are being reckless with their funds and investing with their emergency funds, especially if they have not figured out and/or establish their upcoming income, so if they have no expectations of future income, then it seems that there emergency funds are supposed to be being used to support themselves until such time as they are able to assure and/or secure future income.

unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

Talking about this bold statement in your write up shows that you also is not getting the point here, your emergency funds is not meant for investing, it's strictly meant to protect your Bitcoin holdings not to be using it to  investing wether you have a source of income or not, besides are you going to invest in Bitcoin without having a source of income?
No, you must have that in place already, but the point is, your emergency funds is not meant to investment, it's your reserve funds you use to invest or do other things that aid the growth of your Bitcoin.

[MusaPk]

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

As a Bitcoiner our income must have three parts: daily living, emergency funds and discretionary funds. While the discretionary funds sole purpose is to buy and hodl Bitcoin, we also need fiat to meet our day to day requirements and also to cater emergency requirements like paying for medical bills. The funds for daily living and emergency must be our priority because they are required to live a peaceful life, once you are comfortable with these funds the rest of money should go to Bitcoin. What we are investing in Bitcoin must be out of sight, out of mind and that's only possible if we have enough money in hand to meet our daily requirements. otherwise one will keep converting his Bitcoins to meet day to day needs.

[Tmoonz]

Emergency fund is not for investing, and even though guys can do whatever they like, they are going to be just putting themselves into bad situations if they are being reckless with their funds and investing with their emergency funds, especially if they have not figured out and/or establish their upcoming income, so if they have no expectations of future income, then it seems that there emergency funds are supposed to be being used to support themselves until such time as they are able to assure and/or secure future income.

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

That you have a steady source of income or an upcoming income that you are not sure of is not an enough good reason for anyone to invest part of or or from their emergency funds, emergency funds should only be used for the very purpose it is for because there is no smartness in trying to use it and buy Bitcoin with the hope of any incoming income that has not been confirmed and considering the fact that emergency can come unexpectedly in a manner of which we don't know to what extend it will cost and at such plans should be made ahead of time.

[Miles2006]

Emergency fund is not for investing, and even though guys can do whatever they like, they are going to be just putting themselves into bad situations if they are being reckless with their funds and investing with their emergency funds, especially if they have not figured out and/or establish their upcoming income, so if they have no expectations of future income, then it seems that there emergency funds are supposed to be being used to support themselves until such time as they are able to assure and/or secure future income.

unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

Talking about this bold statement in your write up shows that you also is not getting the point here, your emergency funds is not meant for investing, it's strictly meant to protect your Bitcoin holdings not to be using it to  investing wether you have a source of income or not, besides are you going to invest in Bitcoin without having a source of income?
No, you must have that in place already, but the point is, your emergency funds is not meant to investment, it's your reserve funds you use to invest or do other things that aid the growth of your Bitcoin.

The reserve funds is set as an alternative available whenever an investor wants to use it, definitely some might choose to invest with their reserve fund obviously they’ve their reason so long as they can afford replacing the money back. The reserve fund is not meant to stay empty as it’s a major backup, for example a student investing in bitcoin should at least have a reserve fund although it’s difficult yet the reserve funds should be available always  not minding the amount. Some might take 2 or more month building a good amount of reserve fund depending on their ability still it depends if they should use this fund for investing when they can’t replace the fund.

[ejikeme24]

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.

this are the reasons why emergency fund need to be make available at all time, because emergency is an unforseen circumstance, which means that no one can tell when it will happen. So in no account should we think of investing from our emergency fund, and failure to this would result messing up our investment plans, probably when there's an emergency alerm at this point a guy will be running around looking for a way to figure things out  without tapping his bitcoin investment. And without the help of the emergency fund a guy May be finding it difficult, as there will not be any other alternative except his bitcoin investment.

unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

I can only agree with you if the income is flowing every day, because without this, There's every possibility that a guy would surely face some difficulties in his accumulating journey, especially if you're a weekly earner, there are some emergency that May require immediate attention, and if it happens that your emergency fund is exhausted definitely it becomes a problem, as a guy May not be able to hold on to it untill his payday, so therefore having a steady source of income may not even be the best solution to that.

[Jostern]

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

As a Bitcoiner our income must have three parts: daily living, emergency funds and discretionary funds. While the discretionary funds sole purpose is to buy and hodl Bitcoin, we also need fiat to meet our day to day requirements and also to cater emergency requirements like paying for medical bills. The funds for daily living and emergency must be our priority because they are required to live a peaceful life, once you are comfortable with these funds the rest of money should go to Bitcoin. What we are investing in Bitcoin must be out of sight, out of mind and that's only possible if we have enough money in hand to meet our daily requirements. otherwise one will keep converting his Bitcoins to meet day to day needs.

It is very important to have a source of income before investing in Bitcoin, at the end of the week or monthly we have expenses to take care of, we have daily needs in life and we must have to take care of this little or big expenses that is why in life we need a source of income, Now for someone who wants to hodl Bitcoin for a long term and wants to also build a successful portfolio you must have a source of income and from there we can start having the right approach with emergency fund, reserved funds and fiat which we all know that this strategies serves it's purpose for someone who wants to be successful in terms of this journey of investing and accumulating and holding Bitcoin, we all wants to have a comfortable life and we must definitely have this strategies to also have a comfortable Bitcoin Porfirio.

[Ricardo11]

Emergency fund is not for investing, and even though guys can do whatever they like, they are going to be just putting themselves into bad situations if they are being reckless with their funds and investing with their emergency funds, especially if they have not figured out and/or establish their upcoming income, so if they have no expectations of future income, then it seems that there emergency funds are supposed to be being used to support themselves until such time as they are able to assure and/or secure future income.

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

That you have a steady source of income or an upcoming income that you are not sure of is not an enough good reason for anyone to invest part of or or from their emergency funds, emergency funds should only be used for the very purpose it is for because there is no smartness in trying to use it and buy Bitcoin with the hope of any incoming income that has not been confirmed and considering the fact that emergency can come unexpectedly in a manner of which we don't know to what extend it will cost and at such plans should be made ahead of time.

Many people do this, they think that no unexpected situation will come in their life, their daily life will continue as normal, and they fall into this thinking and spend their emergency fund on other things. But the way they ignore this unexpected and spend the emergency fund, they will face a difficult reality. Emergency fund always provides security to an investor, but those who are unable to understand this fact, will definitely regret it and may even they face huge losses.

[Churchillvv]

Many people do this, they think that no unexpected situation will come in their life, their daily life will continue as normal, and they fall into this thinking and spend their emergency fund on other things. But the way they ignore this unexpected and spend the emergency fund, they will face a difficult reality. Emergency fund always provides security to an investor, but those who are unable to understand this fact, will definitely regret it and may even they face huge losses.

Of course the importance of emergency funds can not be over emphasized as it's a real issue that people do neglect, and sincerely if hadn't read some kinds of books I never lived on emergency funds hence the need for knowing is important too.
Unforeseen circumstances arise every day as life generally is risky, things happen out of our control hence keeping some amount of cash as reserves incase such situations arises is as important as making the investment itself.

Snip

Why quote a wall of text just to end up write one line or two lines of words.

Have you not heard of pyramid quoting to be a bad type of posting? if you haven't I will recommend you the link and will skip to report this post since you're still new and hence make changes in your quoting style learn from others. Apologies to this thread for off topic

[Stable090]

The reserve funds is set as an alternative available whenever an investor wants to use it, definitely some might choose to invest with their reserve fund obviously they’ve their reason so long as they can afford replacing the money back.

Sure reserve funds is set as an alternative for investors, but it shouldn’t be used for investment. If you decide to make use of your reserve funds to invest just because you know you can replace it back, what if their is an emergency, and the reserve funds which you are suppose to use in solving the problem have been used to invest in bitcoin, and you haven’t replaced the reserve funds back yet? You won’t have choice than to just fall back to the coin which you bought, and you won’t have choice than to just sell it.

So I still recommend not to make use of reserve funds to invest even if you know that you can replace it, because you might not have replaced it yet before the need will arise, which will be another problem, things like this do always affect our investment plans.

[I_Anime]

You have to attempt to use your best judgment. If you have absolutely no savings, then surely you are starting from zero, yet we know that to invest into bitcoin at all you have to have some reasonable ability to assess and conclude that you have discretionary income, and by definition, discretionary income is money that is left over after you have accounted for all of your expenses. If you are trying to invest into bitcoin from money that you need for expenses, then you do not have discretionary income and so you should not be investing into bitcoin.. because you would merely be taking chances with money that you actually need to cover expenses.

For practical purposes, I frequently like to presume that even the poorest of people will tend to try to have some kind of a cash cushion to try to cover 2-6 weeks of their living expenses in case their income really were to dry up.. so in some sense, if a guy does not even have 2 weeks of living expenses that are saved up, then he may well not even have enough discretionary income to be able to justify investing into bitcoin.

So, there is a need to establish that you have discretionary income to even justify investing into bitcoin at all, and so even though people can do whatever they like, I don't recommend investing into bitcoin if you do not have discretionary income or if you are not sure... If you are not sure, then it is better not not invest into bitcoin with money that you may well need for expenses.

Once you figure out that you have discretionary income and you decide that you want to invest into bitcoin, then frequently I suffest that at minimum, you should be striving to protect your bitcoin investment by simultaneously building your emergency funds and your investment into bitcoin at the same rate until you get up to 3 months of expenses and the equivalent of three months of your expenses invested into bitcoin.. and sure the bitcoin side of the matter may well go up and down in value more than the part that you are keeping in fiat... so if you ONLY have $10 per week of discretionary income that you are able to invest into bitcoin, you may well have to invest half of that $5 into your emergency fund and $5 into bitcoin.

Definitely true , without discretionary income There's no need to invest in Bitcoin . Because if one start without any discretionary income he or she is just trading or rather gambling , because using money that's meant for taken care of expenses will only lead to one running back to his Bitcoin inorder to handle those expenses. And the funny thing he might even sell in loss due to price fluctuations (price wait for no one ) , so he might be unfortunate to sell when price drop .

Better to start small if your discretionary income is $15 in two week, you can choose to set the two week as your dca fix time of purchasing because it can be either weekly or monthly.  So you can focus $10 as your accumulation funds while the remaining $5 as your emergency funds so that you can handle your expense without running to Bitcoin.

[Derekfunds]

Emergency fund is not for investing, and even though guys can do whatever they like, they are going to be just putting themselves into bad situations if they are being reckless with their funds and investing with their emergency funds, especially if they have not figured out and/or establish their upcoming income, so if they have no expectations of future income, then it seems that there emergency funds are supposed to be being used to support themselves until such time as they are able to assure and/or secure future income.

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

That you have a steady source of income or an upcoming income that you are not sure of is not an enough good reason for anyone to invest part of or or from their emergency funds, emergency funds should only be used for the very purpose it is for because there is no smartness in trying to use it and buy Bitcoin with the hope of any incoming income that has not been confirmed and considering the fact that emergency can come unexpectedly in a manner of which we don't know to what extend it will cost and at such plans should be made ahead of time.

Many people do this, they think that no unexpected situation will come in their life, their daily life will continue as normal, and they fall into this thinking and spend their emergency fund on other things. But the way they ignore this unexpected and spend the emergency fund, they will face a difficult reality. Emergency fund always provides security to an investor, but those who are unable to understand this fact, will definitely regret it and may even they face huge losses.

The ability for someone to know they have responsibility and also make sure not to joke with it the necessary things there by keeping them ready and available is what defines a good and a real investor. Anyone who always play or compromise with things that are meant to keep their investment running is not an investor but rather an unserious person who just want to answer the name Bitcoin investor.

Moreover, a real investor plan ahead of time, they imagine things that are yet to come while they are still taking care of problem that is available and so anyone who is thinking there won't be any challenge has started failing from that moment already and also anyone who is not prepared should not think of investing into Bitcoin because is not a bed of roses or a playing ground.

[JayJuanGee]

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

As a Bitcoiner our income must have three parts: daily living, emergency funds and discretionary funds. While the discretionary funds sole purpose is to buy and hodl Bitcoin, we also need fiat to meet our day to day requirements and also to cater emergency requirements like paying for medical bills. The funds for daily living and emergency must be our priority because they are required to live a peaceful life, once you are comfortable with these funds the rest of money should go to Bitcoin. What we are investing in Bitcoin must be out of sight, out of mind and that's only possible if we have enough money in hand to meet our daily requirements. otherwise one will keep converting his Bitcoins to meet day to day needs.

I doubt that you are describing matters clearly.

Discretionary income/funds is whatever money that you have left after you have either taken care of expenses or allotted your income for expenses.

Emergency funds is additional money that you can have and/or potentially build up, and you are building that up from your discretionary income and hopefully you are able to build that up to three months along side with building up your bitcoin investment.  Bitcoin investment also comes out of discretionary income, so if you are building up emergency funds, then you likely would spend from emergency funds prior to tapping into your bitcoin.. but at the same time, if you have some emergency come up during the month, then those expenses would also come out of your discretionary income or even your other back up funds (if you have any) prior to spending from your emergency funds.

[DubemIfedigbo001]

yes, emergency funds is supposed to act as a safety net whenever there is unforeseen contingency or situation that threatens ones peace of mind and not to be used for investing. so many fails to understand this and are easily carried away by the intense of making profits. However when they are face with emergency or situations that threatens there peace of mind that's when they will realise the importance of emergency funds, that it sole aim is not for investing.unless one have steady source of income or upcoming income,if not using one emergency funds for investment is just like trading or gambling with one peace of mind.so it would be wise if emergency funds is strictly for emergency and discretionary income for investing in bitcoin.

As a Bitcoiner our income must have three parts: daily living, emergency funds and discretionary funds. While the discretionary funds sole purpose is to buy and hodl Bitcoin, we also need fiat to meet our day to day requirements and also to cater emergency requirements like paying for medical bills. The funds for daily living and emergency must be our priority because they are required to live a peaceful life, once you are comfortable with these funds the rest of money should go to Bitcoin. What we are investing in Bitcoin must be out of sight, out of mind and that's only possible if we have enough money in hand to meet our daily requirements. otherwise one will keep converting his Bitcoins to meet day to day needs.

I do not buy into this idea at all. As a bitcoiner, your income has two parts which is your expenses budget and your discretionary income. Your day living is part of your expenses since all the expenditures that make up your day living should've been carefully integrated into your expenses budget for a time period while you expect the next inflow.

Your emergency income should be a part of your discretionary income. You should build alongside your being committed to be investing into bitcoin periodically (which you still do with a part of your discretionary income) and it is good you build it out for as long as it would take to achieve at least 3 months of your living expenses, while still maintaining your investments into bitcoin.

[harapan]

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?

So the big hit is buy and buy most necessarily buying as at when there's a price drop and hodl then after sell when the coin is profitable, that's what is required of every trader or investors. But looking at the period we're in it could be either of them buy time or sell time we just need to know when the market is favourable inorder to profitable in the end.

[Bluedrem]

After a few days of discussion, I understood how to spend the earned money in the right way and what kind of fund should be formed with the remaining money.
I have summarized what I understood in this regard below so that it is easy for others to understand -

▪️Proper structure of spending earned money

🔹 Basic needs: In this case, 50 percent of the earned income should be spent.
The areas of expenditure are-
. Food
. Clothing
. Housing
. Education
. Medical care
. Transportation
. Electricity bills, gas bills, etc.

🔹 Savings and investments: Here, a minimum budget of (30-40)% of the income should be kept.
Types of savings and investment funds-
. Emergency fund
. Pension or retirement fund
. Investment in gold or stock market
. Investment in cryptocurrency or Bitcoin

🔹 Entertainment and social expenses: In this case, 5% of the income can be spent.
. Travel
. Eating out at restaurants
. Gifts
. Expenses at social events, etc.

🔹 Some budget can be kept for personal development, donations and social service and other areas.

Now the question may arise, how can those who earn a small amount of money meet their basic expenses with 50% of their income?

In fact, everything is possible if you spend according to your income.

[Sticky Bomb]

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?

So the big hit is buy and buy most necessarily buying as at when there's a price drop and hodl then after sell when the coin is profitable, that's what is required of every trader or investors. But looking at the period we're in it could be either of them buy time or sell time we just need to know when the market is favourable inorder to profitable in the end.

You're wrong, in Bitcoin investment, the big right thing to do is jumping in and buying regardless of the market sentiment as long as you've discretionary income present.

You don't just sell because your Bitcoin is profitable, else you can be going for short-term gains. You sell (if at all necessary) at the end of your long-term holding period in order to get the desired profits.

A big hit is accumulating a decent portfolio and holding for a long-term ( 4 -10 years or longer) so that you can have a chance to maximize your profits potential and not worry if the price goes low or high since by then the compounding interest on Bitcoin price appreciation would've acted on your holdings and possibly, you'll be very profitable depending on how long you were able to hold.

[Zackz5000]

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?

So the big hit is buy and buy most necessarily buying as at when there's a price drop and hodl then after sell when the coin is profitable, that's what is required of every trader or investors. But looking at the period we're in it could be either of them buy time or sell time we just need to know when the market is favourable inorder to profitable in the end.

Thats a wrong and misleading approach when it comes to bitcoin investment, It is mainly traders who target to buy bitcoin when there is drop in price and sell when it comes up, accumulating Bitcoin when the price is low and sell when its high is not a good buying option and the profit gotten can't be compare with when you keep accumulating Bitcoin at any price level and hodl for long time using the DCA strategy, you won't have a good bitcoin portfolio when you wait to buy bitcoin when there is dip because there are times it won't dip to your expected price to accumulate and by not accumulating regularly you are missing out more buying opportunity, so adopting the DCA strategy will enable you to accumulate Bitcoin at any price level either weekly or monthly and hodl for 4-10 and more rather than regularly waiting for price to drop before accumulating and sell when it goes up.

[SuperBitMan]

After a few days of discussion, I understood how to spend the earned money in the right way and what kind of fund should be formed with the remaining money.
I have summarized what I understood in this regard below so that it is easy for others to understand -

▪️Proper structure of spending earned money

🔹 Basic needs: In this case, 50 percent of the earned income should be spent.
The areas of expenditure are-
. Food
. Clothing
. Housing
. Education
. Medical care
. Transportation
. Electricity bills, gas bills, etc.

🔹 Savings and investments: Here, a minimum budget of (30-40)% of the income should be kept.
Types of savings and investment funds-
. Emergency fund
. Pension or retirement fund
. Investment in gold or stock market
. Investment in cryptocurrency or Bitcoin

🔹 Entertainment and social expenses: In this case, 5% of the income can be spent.
. Travel
. Eating out at restaurants
. Gifts
. Expenses at social events, etc.

🔹 Some budget can be kept for personal development, donations and social service and other areas.

Now the question may arise, how can those who earn a small amount of money meet their basic expenses with 50% of their income?

In fact, everything is possible if you spend according to your income.

Your division is a very good one however just like you said that question may arise, that how can those who earn a small amount of money meet their basic expenses with 50% of their income.
There are people whose earnings are very small that there expenses on there basic needs which is for there

. Food
. Clothing
. Housing
. Education
. Medical care
. Transportation
. Electricity bills, gas bills, etc.

takes all there income for some people it will take all there income and still not be enough, so just like you said Bluedrem that everything is possible if you spend according to your income, people should learn to spend according to there earn so they won't get into a financial set back.
In life we have different options, if you know your earnings can't afford a house rent of $1k then fine an apartment of $500 or $700 so you can save cost so also in everything you are doing.

[Gost ms]

After a few days of discussion, I understood how to spend the earned money in the right way and what kind of fund should be formed with the remaining money.
I have summarized what I understood in this regard below so that it is easy for others to understand -

▪️Proper structure of spending earned money

🔹 Basic needs: In this case, 50 percent of the earned income should be spent.
The areas of expenditure are-
. Food
. Clothing
. Housing
. Education
. Medical care
. Transportation
. Electricity bills, gas bills, etc.

🔹 Savings and investments: Here, a minimum budget of (30-40)% of the income should be kept.
Types of savings and investment funds-
. Emergency fund
. Pension or retirement fund
. Investment in gold or stock market
. Investment in cryptocurrency or Bitcoin

🔹 Entertainment and social expenses: In this case, 5% of the income can be spent.
. Travel
. Eating out at restaurants
. Gifts
. Expenses at social events, etc.

🔹 Some budget can be kept for personal development, donations and social service and other areas.

Now the question may arise, how can those who earn a small amount of money meet their basic expenses with 50% of their income?

In fact, everything is possible if you spend according to your income.

It is not something that you have to keep 50% for basic needs. Spend the amount of money that you feel is worth spending. Invest the amount of money that is left after meeting your basic needs and if you do not have an emergency fund, create an emergency fund in addition to investments. If you do not have enough money to invest after meeting your basic needs, you can find alternative methods if you want. For example, you can reduce all your expenses that seem unnecessary, you can do some kind of work besides your job if you want.

Let me give you a real example, a neighbor of mine works for a very small monthly salary. The amount of money he earns every month is not enough for him to last the whole month. He thought about giving a food code a few months ago and a few days later he gave a food code and he works all day and starts a food code at night. After starting a food code, his financial crisis has reduced.

If a person with a low income wants, there are many types of jobs that they can do in addition to working and alleviate their financial crisis.