Buy Buy Buy or Sell Sell Sell?

[Jewan420]

two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

How do you invest regularly before starting investing? This seems a bit confusing to me.

To start investing, you need basic knowledge and a sensible income. Then you need to make a consistent plan. Being consistent in investing is the only investment strategy that cannot be used before starting investing. You can make a plan to be consistent before starting investing and plan to survive in the investment in the long term. When you have acquired basic knowledge of investing and have a sensible source of income, you should not delay in investing. Start investing as soon as possible and try to be consistent in investing.

[Barikui1]

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

[Princess Leah]

How do you invest regularly before starting investing? This seems a bit confusing to me.

To start investing, you need basic knowledge and a sensible income. Then you need to make a consistent plan. Being consistent in investing is the only investment strategy that cannot be used before starting investing. You can make a plan to be consistent before starting investing and plan to survive in the investment in the long term. When you have acquired basic knowledge of investing and have a sensible source of income, you should not delay in investing. Start investing as soon as possible and try to be consistent in investing.

He misplaced his words, I guess he meant that two things are required of an investor which are those stuffs he highlighted he's right anyways, consistency matters when it comes to Bitcoin investment most especially those who are recently into it. Management is also important, when an investment is not well managed it would affect your portfolio and force you to sell when your portfolio is still very wrong don't get him wrong just think outside the box and understand what he's trying to say.

 Yeah, many people think they need to learn everything about Bitcoin before going into the market, it's waste of time cause lots of opportunities would be missed, learning the basics and backing up with a sensible income like you said is enough to keep going, learning is a process and along the line the investor would get to learn more and correct their errors where there's a need to, I don't know who gave people the idea that it's compulsory to know everything about Bitcoin before investing on it.

[sotelorene]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

Of a truth waiting to get all our budget figured out before getting started will make us not to start our accumulating journey on time, but I feel that this is supposed to be a personal decision if we are to get started or to wait until we get all this figured out. so you can't possibly say that is not necessary to wait until we get all this matters sorted out before getting started, as you can't speak for others, If you feel that getting started is your best step to take maybe with time you will be looking for a way to get all this matters figured out, is also a nice idea. So I feel that this is just a personal decision.

Yes, you are right. Investing in Bitcoin is a completely personal decision of an individual. We cannot force anyone to invest. We can only give them the right advice.

Since we have decided to invest in Bitcoin. So we have to do all the things through which we can easily accumulate more Bitcoin. More or less, we all have the desire to accumulate at least 1 Bitcoin in our portfolio. But most people start accumulating Bitcoin in the wrong way. Some do not have a proper plan. Some use investment as an emergency fund. Some wait to create all kinds of backups before investing.

I want to tell all of them, you should not plan so much without starting investing. Start investing as soon as possible. Because, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income. Nothing else is needed beyond this. However, the additional things we are talking about are the things to do to sustain this investment consistently. Therefore, although investing is a personal matter, I believe we should be given sound advice.

You don't manage investment with prudent income rather you manage your investment prudently I mean these are two different thing and I believe anyone who wants to go far in this journey have to be prudent ( wise) while carrying out his or her investment activity. Over time, one important thing I have discovered about Bitcoin is reliability because over the years it has been fluctuating and yet still maintain it potential it means it is a reliable asset that we shouldn't toy with and people who has long term mindset and has exercised patient can testify on what I'm saying.

[SuperBitMan]

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

Barikui1 i don't agree with some part of your write up here, you said what is actually needed in consistent investment in Bitcoin is a discretionary income and then you came down to say that maintaining our Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds.
So you mean that in other to remain consistency in our Bitcoin investment backup funds which are emergency reserve and float funds are not needed and is only needed when you have finished building your Bitcoin investment and you then what to maintain it.
This is wrong Barikui1 and this write up can mislead a lot of newbies, in other to be consistent in your Bitcoin investment from the starting till the end you need a backup funds which are your emergency, reserve and float funds, so is not only when you want to maintain your Bitcoin investment that this backup funds are important, without backup funds you can't be consistent in your accumulation even with your discretionary income in place.

[JayJuanGee]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

That is part of the dilemma Joy- maker.. since all a guy needs is discretionary funds, but if he makes the mistake of investing beyond his discretionary funds, and he thought that he was using discretionary funds to buy bitcoin, but he was using money that he needed for expenses 2 weeks down the road, then yep. he fucked up.. .. since when the 2 weeks comes and he does not have any money to pay for his expenses, then if the ONLY thing that he has is the bitcoin, then he may well end up having to sell some or all of the bitcoin at a time that was not of his own choosing. .  He has to live with the consequences of his mistake, so it is not always a good idea to prematurely conclude that a guy has discretionary funds merely because he has $10 in his pocket... yet at the same time, guys are frequently making these kinds of determinations, so they should be capable of coming to the right balances, and even if they might make mistakes from time to time, they can also learn from their mistakes so that they don't make them in the future or at least they adapt so that they might become less likely to make the same mistakes in the future.

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Right, we really need to be a educated investor in Bitcoin. There could be school of thoughts here that I know that advises to just invest without any plan. That is a wrong mindset because you don't have any plans. It's like you are going into war with just knives or with no bullets. And if you are really meticulous person, then you will have to lay out your strategy for years so that you won't be sloppy or neglect your Bitcoin investment.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

There is nothing wrong with planning out our bitcoin investment (approach) and planning in detail, yet none of us needs to figure out all of the details of our bitcoin investment plan/approach prior to getting started investing into bitcoin, and whether a guy starts out with $100 per week, or $10 per week or some other amount, he can work out the details of his plan bitcoin investment plan/approach as he goes along, and surely nothing wrong with front loading such plan/approach towards the beginning of the bitcoin investment, yet such plan/approach does not need to be finalized in order to get started with it. .especially since in bitcoin, getting started remains quite important, especially in regards to getting some sense for what bitcoin is and having ongoing interactions with bitcoin to better and better understand it.. . There are aspects of bitcoin that might not be known or knowable in the beginning, yet may well ONLY start to make sense after spending time interacting with it and studying it for 4 years or more and hopefully none of us are spending a lot of time figuring out those kinds of details about bitcoin without actively buying it first.. perhaps there are even needs to buy bitcoin persistently, consistently, regularly, ongoingly and even aggressively without necessarily knowing the specifics of bitcoin beyond having a bit of a road map and an outline. .and as we go and accumulate bitcoin we may well become more and more informed in order to realize our needs for bitcoin investment aggressiveness.

I hardly imagine a no coiner/low coiner really understanding bitcoin very well without getting started and spending time with it... so yeah, the guys who are spending a bunch of time studying and planning their area of attack are likely going to be disadvantaged in regards to bitcoin rather than those who get started right away.

Yep.. it can be difficult to break bad old habits, especially if you don't consider them to be bad.

I don't see any of my plans as bad, that's a fact. They are strategic and are working for me. What else does anyone want if what he does is working for him? Unless you want to preach perfection, which I am sure is not anywhere.

You are not going to catch me preaching perfection, since bitcoin investment takes a long time to really build up, and so likely there is persistence and ongoing buying that ends up helping a person 4-10 years or longer down the road, and surely the one who had invested $100 per week in bitcoin over 10 years or more will likely be in a better place as compared with a similarly situated person who was capable of investing $100 per week but instead who had ONLY invested $10 per week, yet each of them needs to tailor their approach to their circumstances, and so in that regards, the most perfect approach, to the extent that perfection is even possible, would be the one who had best been able to tailor his bitcoin approach to his personal circumstances.

Well.. you might not damage your self as much if you would be able to limit your trading account to ONLY around 10% of the size of your bitcoin investment, but yes.. of course, gamblers do not have abilities to impose such strict limits on themselves.. and they think that they are able to profit more by playing BIGGER...

You are now talking, this looks like a plan. I do 10% or more, or less, it depends on the market condition, and I don't enter the market anyhow, unless it has dipped so well. Besides, only a certain account is dedicated to this, while others are dedicated to another scope of investing.

Surely there are some guys who are able to learn and profit from their interaction with bitcoin and perhaps even employing some trading tactics, and surely they likely need to start out small and then potentially work their way up to larger amounts to the extent that they might have had figured out some systems that work for them, and surely, I have  been a bit of a preacher of not selling any BTC untl reaching an overaccumulation stage, even though surely I had also toyed around with some ideas of trying to incorporate playing the waves into bitcoin accumulation.. and surely I have reservations about those techniques, so surely guys have to figure out their own balances, including if they might be able to reasonably go beyond the 10% limit that I have suggested as a general starting guidance.

Surely, one of my earlier criticisms of you (and some of your posts) have to do with your seeming suggestion that anyone (and perhaps even everyone) should be employing trading strategies, which truly I do not consider to be the case.  From my point of view an overwhelming majority of folks, perhaps in the 80% or more would likely be better off to focus ONLY on BTC accumulation, yet surely there could be some folks who really cannot resist some forms of experimentation and/or even considering that they might be able to better learn about bitcoin by attempting to interact more with it, such as in the context of trying to trade it.. which then surely I suggest that guys do not need to risk much value to learn about trading.. and perhaps even risking 10% is way too much, yet at the same time, it may well be the case that guys are able to figure out ways to get 10% to work for them and not get lured into gravitating more and more value into trading, when bitcoin happens to be amongst the best of investment assets (if not the best?) and otherwise smart people are getting lured into inferior techniques, such as trying to trade one of the best (if not the best?) asset known to man that is currently available for anyone and everyone so long as they have discretionary income.

Anyhow, I think that I had belabored the point enough, especially in regards to how difficult it can be to focus on bitcoin accumulation, and how it might not be making very much sense to be accumulating through buying out of one hand, and then fuck around with selling while still in the process of building up the stash.. and so in some sense if both buying and selling is going on then that hardly makes any sense for accumulating bitcoin and then frequently sellers will get into a posture of waiting for dips rather than ongoingly buying, so they might not even really realize how much they prejudiced their own bitcoin portfolio by failing/refusing to be aggressive enough in their ongoing bitcoin accumulation.

[edited out]

...... I think the conclusion is like that, poor people can definitely invest in bitcoin, but they have to go through several stages of their financial development, only then can they start investing.

The main thing is that they have to make sure that they have discretionary income and that they are not spending past their discretionary income, which frequently can be easier said than done.. since poor people will frequently have challenges, and if they end up overdoing their investment into bitcoin or screwing up in some other way, then they might not have any resources to fall back upon, and because of their desperation, they may well end up inadvertently spending beyond their discretionary funds and then screwing up and taking away years and years and years of their progress merely because they failed/refused to take adequate preventative steps or maybe they got greedy.. and then found that they are not able to recover from the greedy mistake that they ended up making.

If you fuck up as a poor person. .there may well be no one to rescue you, and no one gives any shits if you end up on the street or you end up with no bitcoin when you could have had improved your life, but you ended up screwing up your balances.. or you left all of your bitcoin on some exchange that ends up rug pulling you or getting hacked, and no one is going to give you back the coins you lost because of your failure/refusal to take sufficient/adequate precautions...and you might not even realize the level of your mistakes until you end up losing most (if not all) of the coins that you spent 4-10 years or more building up.

By the way, it does tend to get easier to invest in bitcoin and also to build stronger cashflow management systems as each of us gets more experienced, but even experienced investors can end up screwing up their situation, but at least the more experienced investors may well would have had more time to put various back up systems in place and hopefully to learn how to shore up their situation so that they can tolerate certain kinds of losses or certain kinds of fluctuations in the market or certain kinds of problems with their own cashflows.

[edited out]

Yes, you are right. Investing in Bitcoin is a completely personal decision of an individual. We cannot force anyone to invest. We can only give them the right advice.
Since we have decided to invest in Bitcoin. So we have to do all the things through which we can easily accumulate more Bitcoin. More or less, we all have the desire to accumulate at least 1 Bitcoin in our portfolio. But most people start accumulating Bitcoin in the wrong way. Some do not have a proper plan. Some use investment as an emergency fund. Some wait to create all kinds of backups before investing.

I want to tell all of them, you should not plan so much without starting investing. Start investing as soon as possible. Because, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income. Nothing else is needed beyond this. However, the additional things we are talking about are the things to do to sustain this investment consistently. Therefore, although investing is a personal matter, I believe we should be given sound advice.

Do you (Mehmet69) really consider that any of us are giving advice and/or financial advice here or in the real world when we are talking about bitcoin and/or bitcoin investment related matters and/or cashflow management matters?

I don't consider that I am giving any advice, even though I am sharing ideas, and members of the forum and even people in the real world have to figure out for themselves if they want to invest in bitcoin or not and/or if they want to figure out ways to manage their cashflows in strong ways when they are choosing to invest into bitcoin.

Each person is ultimately responsible for his choices whether or not to invest into bitcoin and/or whether and/or how to manage their cashflows.  if they fuck up by either investing into bitcoin or failing to invest into bitcoin, then that is on them.  They are completely responsible no matter which direction their actions go, and they will either suffer the consequences if they screw up or reap the benefits if they make the right kinds of choices and take the right kinds of actions.

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

One thing is getting started with investing into bitcoin.. and another thing is keeping the investment into bitcoin going.

Getting started all you need is $10.

Keeping it going you may well need a lot of things that you have to figure out that relate to your personal factors.

These 9 principle individual factors that influence your decision whether to invest into bitcoin and how to invest into bitcoin have financial, skills and psychological components that include:
1)   your cashflow (which also includes ideas of income versus expenses and surely discretionary income is the difference between income and expenses),
2)   how much bitcoin you have already accumulated,
3)   your other investments (including considering your emergency fund, your float and your reserves - which are usually kinds of liquid ways to hold value in cash, dollars and/or your native currency in away that many of your expenses tend to be denominated),
4)   your view of bitcoin as compared with other investment possibilities,
5)   your timeline,
6)   your risk tolerance,
7)   your time, skills, goals (investment/lifestyle targets, which includes figuring out the extent that you are in BTC accumulation, maintenance or liquidation stage),
8 )   your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time,
9)   your considering your time, your abilities and whether to trade, reallocate from time to time, to use of leverage and/or to use financial instruments... (and for sure the use of financial instruments, leverage and margin trading involve higher level skills and are not even necessary to still become richie in bitcoin's already existing asymmetric bet.)

Even though some folks might have his personal factors figured out from the start, it could take other people a while to really figure out and hone in on their various personal factors... which also might consider ways to improve discretionary income by increasing income and/or cutting expenses.

..I don't know who gave people the idea that it's compulsory to know everything about Bitcoin before investing on it.

Hahahaha.. The main thing to know.. is get the fuck started... As long as you have $10.. and then work out the details as you go.. and don't fuck things up.  I doubt anyone is fucking anything up if they are merely starting with $10.

[Lembo69]

If an investor cannot keep an emergency fund or a reserve fund (backup fund), then he will put his investment at risk. Because an emergency fund is kept for danger. If an investor gets into danger while running his investment and there is no one to help him. Then if he has to sell the investment to get rid of that danger, then he will have no end of regrets. You can face many obstacles and dangers while investing. Therefore, an emergency fund or a reserve fund is necessary to deal with any emergency situation.

Danger never comes in a hurry. If you keep an emergency fund, it means that you are going to invest risk-free. Those who do not keep an emergency fund or a reserve fund often lose their investment after being caught in a storm.

[Agbamoni]

Of a truth waiting to get all our budget figured out before getting started will make us not to start our accumulating journey on time, but I feel that this is supposed to be a personal decision if we are to get started or to wait until we get all this figured out. so you can't possibly say that is not necessary to wait until we get all this matters sorted out before getting started, as you can't speak for others, If you feel that getting started is your best step to take maybe with time you will be looking for a way to get all this matters figured out, is also a nice idea. So I feel that this is just a personal decision.

It is a waste of time when you try to set budget since the goal is prolly 4, 5, years and more investing period. If you have a goal/target that is more than enough to stay in line with your investment. Imagine, making a budget o $5000 in total as your capital, with time it may change if the price of Bitcoin gets higher or reduce. That amount could get you lesser or higher fractions of Bitcoin. I think the best approach is to have in mind how long we want to invest and what amount of Bitcoin we would love to have in our portfolio.

[Mehmet69]

Yes, you are right. Investing in Bitcoin is a completely personal decision of an individual. We cannot force anyone to invest. We can only give them the right advice.
Since we have decided to invest in Bitcoin. So we have to do all the things through which we can easily accumulate more Bitcoin. More or less, we all have the desire to accumulate at least 1 Bitcoin in our portfolio. But most people start accumulating Bitcoin in the wrong way. Some do not have a proper plan. Some use investment as an emergency fund. Some wait to create all kinds of backups before investing.

I want to tell all of them, you should not plan so much without starting investing. Start investing as soon as possible. Because, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income. Nothing else is needed beyond this. However, the additional things we are talking about are the things to do to sustain this investment consistently. Therefore, although investing is a personal matter, I believe we should be given sound advice.

Do you (Mehmet69) really consider that any of us are giving advice and/or financial advice here or in the real world when we are talking about bitcoin and/or bitcoin investment related matters and/or cashflow management matters?

I don't consider that I am giving any advice, even though I am sharing ideas, and members of the forum and even people in the real world have to figure out for themselves if they want to invest in bitcoin or not and/or if they want to figure out ways to manage their cashflows in strong ways when they are choosing to invest into bitcoin.

Each person is ultimately responsible for his choices whether or not to invest into bitcoin and/or whether and/or how to manage their cashflows.  if they fuck up by either investing into bitcoin or failing to invest into bitcoin, then that is on them.  They are completely responsible no matter which direction their actions go, and they will either suffer the consequences if they screw up or reap the benefits if they make the right kinds of choices and take the right kinds of actions.

Yes, you are absolutely right. Every person has the full right to make their own decisions. We are just sharing our own experiences. We are not imposing any kind of decision on them. I am not giving any financial advice to the experts.

The purpose of what I said earlier was to motivate those who have decided to invest in Bitcoin but are not starting to invest to start investing quickly. But not for those who are not interested in investing.

At the end of the day, we are all moving forward in our own way and trying to learn something from each other's experiences.

[Edited out]

[Edited out]

[Edited out]

First of all, I apologize that I could not express my point clearly. What you said is absolutely correct. But I wanted to say that when starting to invest in Bitcoin, many people worry about a few things, which one should start first? Emergency fund, stable income or discretionary income. In addition, they delay doing research on Bitcoin for a long time. We all know that if someone delays investing in Bitcoin, then they may miss a very big opportunity.

So I wanted to tell them to start investing without worrying about so many things. Because I think that if someone decides to invest and starts investing, he will find out for himself what are the necessary things to make that investment permanent. After investing for 1 day/week, when he goes to invest 2 times, he will feel the need for some things. After that, he will start everything to make the investment permanent. So we have to start investing first. From this point of view, I said that to start investing, we need regular investment. That is, we should not decide to break it after investing.

[Gallar]

If an investor cannot keep an emergency fund or a reserve fund (backup fund), then he will put his investment at risk. Because an emergency fund is kept for danger. If an investor gets into danger while running his investment and there is no one to help him. Then if he has to sell the investment to get rid of that danger, then he will have no end of regrets. You can face many obstacles and dangers while investing. Therefore, an emergency fund or a reserve fund is necessary to deal with any emergency situation.

Danger never comes in a hurry. If you keep an emergency fund, it means that you are going to invest risk-free. Those who do not keep an emergency fund or a reserve fund often lose their investment after being caught in a storm.

Having an emergency fund is indeed a must for everyone, whether they are investing or not. But when investing in bitcoin, of course, an emergency fund can be likened to a shield. Because its use is to cover emergency needs when the funds allocated for needs have run out. So in such conditions, emergency funds can be used. But if you assume that when investing and having an emergency fund will be free from all risks, I think that assumption is not quite right. Because you need to remember that having an emergency fund does not mean eliminating all risks, but rather to be able to minimize the risk so that it is not too big. Because basically the risk can never be completely eliminated when investing in any asset, including bitcoin. So don't misunderstand the use of an emergency fund, because if you assume that all risks are gone when you have an emergency fund, of course that is very wrong. Although bitcoin is indeed a fairly safe investment asset, investing in bitcoin still has risks, although not as big as other assets.

[Umulala-alala]

If an investor cannot keep an emergency fund or a reserve fund (backup fund), then he will put his investment at risk. Because an emergency fund is kept for danger. If an investor gets into danger while running his investment and there is no one to help him. Then if he has to sell the investment to get rid of that danger, then he will have no end of regrets. You can face many obstacles and dangers while investing. Therefore, an emergency fund or a reserve fund is necessary to deal with any emergency situation.

Danger never comes in a hurry. If you keep an emergency fund, it means that you are going to invest risk-free. Those who do not keep an emergency fund or a reserve fund often lose their investment after being caught in a storm.

Having an emergency fund is indeed a must for everyone, whether they are investing or not. But when investing in bitcoin, of course, an emergency fund can be likened to a shield. Because its use is to cover emergency needs when the funds allocated for needs have run out. So in such conditions, emergency funds can be used. But if you assume that when investing and having an emergency fund will be free from all risks, I think that assumption is not quite right. Because you need to remember that having an emergency fund does not mean eliminating all risks, but rather to be able to minimize the risk so that it is not too big. Because basically the risk can never be completely eliminated when investing in any asset, including bitcoin. So don't misunderstand the use of an emergency fund, because if you assume that all risks are gone when you have an emergency fund, of course that is very wrong. Although bitcoin is indeed a fairly safe investment asset, investing in bitcoin still has risks, although not as big as other assets.

It's good we have any emergency fund because unexpected things happened unannounced instead of running up and down looking for where to get money you just deep hand into your emergency fund and sort out your issues without the next man even knowing but in bitcoin investment it shouldn't be a thing of must before you get started with your bitcoin investment, you can still start with your bitcoin investment if you have a left over income (Discretionary income) you are very free start buying bitcoin and sort your emergency fund along the line.

[Solokan]

If an investor cannot keep an emergency fund or a reserve fund (backup fund), then he will put his investment at risk. Because an emergency fund is kept for danger. If an investor gets into danger while running his investment and there is no one to help him. Then if he has to sell the investment to get rid of that danger, then he will have no end of regrets. You can face many obstacles and dangers while investing. Therefore, an emergency fund or a reserve fund is necessary to deal with any emergency situation.

Danger never comes in a hurry. If you keep an emergency fund, it means that you are going to invest risk-free. Those who do not keep an emergency fund or a reserve fund often lose their investment after being caught in a storm.

I agree with you that without an emergency fund, our investment in BTC will be in danger because of course there will always be many obstacles that will be faced in this life. However, for beginners who want to invest in BTC, of ​​course, in my opinion, they can also invest in BTC without having an emergency fund, but as long as it is only temporary because rather than not investing in BTC at all and if later there are more funds, we can use the extra funds to be used as emergency funds and it would be better if the emergency fund was added at all times because of course by adding an emergency fund, it will certainly make our investment safer.

So of course, sometimes many investors forget about emergency funds, even though it is a fatal mistake and with an emergency fund plus an emergency fund that is always added at all times, it will make us strong in holding BTC for the long term and of course the most important thing is that we don't panic easily because of course in investing in BTC for the long term, we must be mentally strong because having an emergency fund will also make the BTC we have sold if we don't have a strong mentality.

[IceLincoln]

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

Barikui1 i don't agree with some part of your write up here, you said what is actually needed in consistent investment in Bitcoin is a discretionary income and then you came down to say that maintaining our Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds.
So you mean that in other to remain consistency in our Bitcoin investment backup funds which are emergency reserve and float funds are not needed and is only needed when you have finished building your Bitcoin investment and you then what to maintain it.
This is wrong Barikui1 and this write up can mislead a lot of newbies, in other to be consistent in your Bitcoin investment from the starting till the end you need a backup funds which are your emergency, reserve and float funds, so is not only when you want to maintain your Bitcoin investment that this backup funds are important, without backup funds you can't be consistent in your accumulation even with your discretionary income in place.

Hmm… Superbitman, I think you’re the one getting it wrong, your understanding of his statement is wrong, maybe you rushed to read it or him using the word MAINTAIN is what confusing you. Most of us are not native English speakers, but I always take my time to understand what everyone is saying or trying to.
Simply Put, Barikui is saying to start investing in bitcoin all you need is discretionary funds but to keep your investment going you need emergency and reserve funds…. Kapeesh.

Which is also what you’re saying and it’s all correct but your understanding of the word Maintain in the context is the issue

[Tungbulu]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

That is part of the dilemma Joy- maker.. since all a guy needs is discretionary funds, but if he makes the mistake of investing beyond his discretionary funds, and he thought that he was using discretionary funds to buy bitcoin, but he was using money that he needed for expenses 2 weeks down the road, then yep. he fucked up.. .. since when the 2 weeks comes and he does not have any money to pay for his expenses, then if the ONLY thing that he has is the bitcoin, then he may well end up having to sell some or all of the bitcoin at a time that was not of his own choosing. .  He has to live with the consequences of his mistake, so it is not always a good idea to prematurely conclude that a guy has discretionary funds merely because he has $10 in his pocket... yet at the same time, guys are frequently making these kinds of determinations, so they should be capable of coming to the right balances, and even if they might make mistakes from time to time, they can also learn from their mistakes so that they don't make them in the future or at least they adapt so that they might become less likely to make the same mistakes in the future.

Sometimes, the line between essential expenses and the discretionary income can be pretty blurry and it can get really problematic when folks intentionally or unintentionally invests beyond what's truly discretionary and that's why it's very important for folks to know whether they actually have discretionary income or not. When folks invest funds that was meant to cover upcoming expenses, they might potentially be forced to sell off their Bitcoin at unfavorable times and this can be really costly and stressful.

it's quite a delicate balance and it's crucial for folks to carefully consider their financial situation/obligations as well as their liquidity needs before investing. Although, it can indeed be pretty easy to make mistakes, but some of these mistakes can also have it's own advantages as it can also serve as valuable learning opportunities, and can potentially help individuals refine their financial decision making as well as adapting to those situations in order to avoid making same mistakes subsequently.

Finding the right balance can be sometimes tricky and so requires deep understanding of one's financial situation, risk tolerance level and overall financial goals and by being mindful of these factors, it becomes more easier to make better and more informed decisions as well as making it easy to effectively navigate the complexities of managing one's finances.

[SuperBitMan]

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

Barikui1 i don't agree with some part of your write up here, you said what is actually needed in consistent investment in Bitcoin is a discretionary income and then you came down to say that maintaining our Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds.
So you mean that in other to remain consistency in our Bitcoin investment backup funds which are emergency reserve and float funds are not needed and is only needed when you have finished building your Bitcoin investment and you then what to maintain it.
This is wrong Barikui1 and this write up can mislead a lot of newbies, in other to be consistent in your Bitcoin investment from the starting till the end you need a backup funds which are your emergency, reserve and float funds, so is not only when you want to maintain your Bitcoin investment that this backup funds are important, without backup funds you can't be consistent in your accumulation even with your discretionary income in place.

Hmm… Superbitman, I think you’re the one getting it wrong, your understanding of his statement is wrong, maybe you rushed to read it or him using the word MAINTAIN is what confusing you. Most of us are not native English speakers, but I always take my time to understand what everyone is saying or trying to.
Simply Put, Barikui is saying to start investing in bitcoin all you need is discretionary funds but to keep your investment going you need emergency and reserve funds…. Kapeesh.

Which is also what you’re saying and it’s all correct but your understanding of the word Maintain in the context is the issue

I understand English very well and what I pointed out was correct about Barikui write up, I think your problem is you fine it difficult to comprehend a writing.
Now you have made same mistake by trying to explain to me what Barikui was saying now let me quote your explanation "Barikui is saying to start investing in bitcoin all you need is discretionary funds" now from this statement you said all someone needs to start a Bitcoin investment is a discretionary income, and I'm saying this could mislead a newbies who have gotten a little knowledge of backup funds in Investment, when a newbie wants to start Bitcoin investment and he knows about backup funds he needs it, not just discretionary income, we don't know when an emergency will happen so you guys should stop making it look as if starting a Bitcoin investment without a backup funds at first is good, an emergency can happen at the beginning or early stage of your investment so how will you over come it without a backup funds.
Backup funds is very much important, the only reason why we say you can start building your backup funds now is because they never had the knowledge of having a Backup funds now that they now have it is good they start building it a long side there investment, now this those not mean we should push same narrative to newbies, as a newbie before you start do well to have a little backup funds and then you can decide to build it alongside your investment or you start both at same time.

[Barikui1]

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

Barikui1 i don't agree with some part of your write up here, you said what is actually needed in consistent investment in Bitcoin is a discretionary income and then you came down to say that maintaining our Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds.
So you mean that in other to remain consistency in our Bitcoin investment backup funds which are emergency reserve and float funds are not needed and is only needed when you have finished building your Bitcoin investment and you then what to maintain it.
This is wrong Barikui1 and this write up can mislead a lot of newbies, in other to be consistent in your Bitcoin investment from the starting till the end you need a backup funds which are your emergency, reserve and float funds, so is not only when you want to maintain your Bitcoin investment that this backup funds are important, without backup funds you can't be consistent in your accumulation even with your discretionary income in place.

Hmm… Superbitman, I think you’re the one getting it wrong, your understanding of his statement is wrong, maybe you rushed to read it or him using the word MAINTAIN is what confusing you. Most of us are not native English speakers, but I always take my time to understand what everyone is saying or trying to.
Simply Put, Barikui is saying to start investing in bitcoin all you need is discretionary funds but to keep your investment going you need emergency and reserve funds…. Kapeesh.

Which is also what you’re saying and it’s all correct but your understanding of the word Maintain in the context is the issue

I understand English very well and what I pointed out was correct about Barikui write up, I think your problem is you fine it difficult to comprehend a writing.
Now you have made same mistake by trying to explain to me what Barikui was saying now let me quote your explanation "Barikui is saying to start investing in bitcoin all you need is discretionary funds" now from this statement you said all someone needs to start a Bitcoin investment is a discretionary income, and I'm saying this could mislead a newbies who have gotten a little knowledge of backup funds in Investment, when a newbie wants to start Bitcoin investment and he knows about backup funds he needs it, not just discretionary income, we don't know when an emergency will happen so you guys should stop making it look as if starting a Bitcoin investment without a backup funds at first is good, an emergency can happen at the beginning or early stage of your investment so how will you over come it without a backup funds.
Backup funds is very much important, the only reason why we say you can start building your backup funds now is because they never had the knowledge of having a Backup funds now that they now have it is good they start building it a long side there investment, now this those not mean we should push same narrative to newbies, as a newbie before you start do well to have a little backup funds and then you can decide to build it alongside your investment or you start both at same time.

Superbitman I think you are getting the whole context here wrong, discretionary income is what is needed to start as long as you have the basic knowledge on how to invest in Bitcoin, along the line after starting you can start putting emergency and backup funds in place in case of the rainy days, saying that a new Investors must have everything in place before starting is actually wrong in my own opinion because that might even delay his accumulation journey if he is not good at managing his finance properly.

[Jostern]

Of a truth waiting to get all our budget figured out before getting started will make us not to start our accumulating journey on time, but I feel that this is supposed to be a personal decision if we are to get started or to wait until we get all this figured out. so you can't possibly say that is not necessary to wait until we get all this matters sorted out before getting started, as you can't speak for others, If you feel that getting started is your best step to take maybe with time you will be looking for a way to get all this matters figured out, is also a nice idea. So I feel that this is just a personal decision.

It is a waste of time when you try to set budget since the goal is prolly 4, 5, years and more investing period. If you have a goal/target that is more than enough to stay in line with your investment. Imagine, making a budget o $5000 in total as your capital, with time it may change if the price of Bitcoin gets higher or reduce. That amount could get you lesser or higher fractions of Bitcoin. I think the best approach is to have in mind how long we want to invest and what amount of Bitcoin we would love to have in our portfolio.

Investing into Bitcoin with a budget in mind wouldn’t be quite easy, Bitcoin is a very volatile assets so it wouldn’t be very easy to have an amount in mind to use in investing, that is why I think it’s more reasonable to accumulate gradually on a weekly or monthly basis depending on  when you’ve have a discretionary funds, and planning on budgeting will definitely make us not to accumulate much bitcoin considering the volatile nature of bitcoin , because there are times when Bitcoin would increase and times when Bitcoin would decrease, having budget in mind would probably make us not to exceed our budget, Waiting to get whatever amount of budget set aside before starting to invest would be a waste of time because you might not get that budget which you planned.

[laijsica]

If an investor cannot keep an emergency fund or a reserve fund (backup fund), then he will put his investment at risk. Because an emergency fund is kept for danger. If an investor gets into danger while running his investment and there is no one to help him. Then if he has to sell the investment to get rid of that danger, then he will have no end of regrets. You can face many obstacles and dangers while investing. Therefore, an emergency fund or a reserve fund is necessary to deal with any emergency situation.

Danger never comes in a hurry. If you keep an emergency fund, it means that you are going to invest risk-free. Those who do not keep an emergency fund or a reserve fund often lose their investment after being caught in a storm.

Having an emergency fund is indeed a must for everyone, whether they are investing or not. But when investing in bitcoin, of course, an emergency fund can be likened to a shield. Because its use is to cover emergency needs when the funds allocated for needs have run out. So in such conditions, emergency funds can be used. But if you assume that when investing and having an emergency fund will be free from all risks, I think that assumption is not quite right. Because you need to remember that having an emergency fund does not mean eliminating all risks, but rather to be able to minimize the risk so that it is not too big. Because basically the risk can never be completely eliminated when investing in any asset, including bitcoin. So don't misunderstand the use of an emergency fund, because if you assume that all risks are gone when you have an emergency fund, of course that is very wrong. Although bitcoin is indeed a fairly safe investment asset, investing in bitcoin still has risks, although not as big as other assets.

It's good we have any emergency fund because unexpected things happened unannounced instead of running up and down looking for where to get money you just deep hand into your emergency fund and sort out your issues without the next man even knowing but in bitcoin investment it shouldn't be a thing of must before you get started with your bitcoin investment, you can still start with your bitcoin investment if you have a left over income (Discretionary income) you are very free start buying bitcoin and sort your emergency fund along the line.

Guideline for what you need to do to make Bitcoin investment long-term is that you set your savings goals in such a way that they are achieved through your discretionary income and it is a very simple consideration. Here you should avoid the complexity and follow the right method such as following the DCA method correctly and keeping it continuous. And in between set the amount of floating cash fund or emergency fund amount with you in such a way that you can keep yourself more disciplined in terms of accumulation.

I have this idea about some investors who may be careless about maintaining discipline in their investments because their emergency fund amount is initially very low or they may not have any amount available. They are worried about the amount of discretionary income to invest in Bitcoin because that amount is very low.

To maintain investment consistency, I recommend a strategy that is very realistic for an investor to follow, such as if your discretionary income is 5% of your total income, then it can be considered very simple to allocate 4% of it to Bitcoin accumulation and the remaining 1% to an emergency fund. Therefore you can cycle for four years but even if it is not a decent holding for you, it will become a great habit to hold Bitcoin and will encourage you to cycle more.

[ZeroVinsonN]

To maintain investment consistency, I recommend a strategy that is very realistic for an investor to follow, such as if your discretionary income is 5% of your total income, then it can be considered very simple to allocate 4% of it to Bitcoin accumulation and the remaining 1% to an emergency fund. Therefore you can cycle for four years but even if it is not a decent holding for you, it will become a great habit to hold Bitcoin and will encourage you to cycle more.

I agree with you here, most people think they have to pour their entire discretionary funds into bitcoin investment, they forget that saving is a way to ensure that they don't get caught up in some kind of a financial crisis later in their investment journey, any smart investor should know to not invest with all their discretionary funds but to instead keep a certain percentage of it for a range of other purposes (emergency situation) this way they can relatively handle unexpected events that come up, sometimes our insurance aren't paid in time and we don't usually have the luxury of waiting for it, situations like this are remedied by our emergency or backup funds until insurance is cleared.
Investors need to understand that keeping some money aside from their discretionary funds is one way to safeguard their bitcoin investment.

[Futurexxx]

To maintain investment consistency, I recommend a strategy that is very realistic for an investor to follow, such as if your discretionary income is 5% of your total income, then it can be considered very simple to allocate 4% of it to Bitcoin accumulation and the remaining 1% to an emergency fund. Therefore you can cycle for four years but even if it is not a decent holding for you, it will become a great habit to hold Bitcoin and will encourage you to cycle more.

I agree with you here, most people think they have to pour their entire discretionary funds into bitcoin investment, they forget that saving is a way to ensure that they don't get caught up in some kind of a financial crisis later in their investment journey, any smart investor should know to not invest with all their discretionary funds but to instead keep a certain percentage of it for a range of other purposes (emergency situation) this way they can relatively handle unexpected events that come up, sometimes our insurance aren't paid in time and we don't usually have the luxury of waiting for it, situations like this are remedied by our emergency or backup funds until insurance is cleared.
Investors need to understand that keeping some money aside from their discretionary funds is one way to safeguard their bitcoin investment.

The actual fact is that for you Bitcoin investment to be successful, you don't invest all your discretionary income, because it's through that discretionary income you remove your emergency funds and reserve funds, anything that makes you invest all your discretionary income, you are putting your Bitcoin investment at risk, because it will be just a matter of time before you falls back to your holdings to address some financial needs, but if your emergency and reserve funds are there, you wouldn't even contemplate on tempering with your Bitcoin investment, so in essence of what am trying to say is that all our discretionary income is not meant for investment in Bitcoin, some part of it are used to put an emergency funds and reserve funds in place, so in case you have any significant emergency situation in the future.