Balancing Financial security and Bitcoin Accumulation

[Ever-young]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

[Umulala-alala]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Emergency is emergency bro when challenges you never expected hits you it's called an emergency maybe the unexpected expenses you are talking about is for example maybe you dey go buy food stuff for market and you no expect to give out money to people you just budgeted money for food stuff only and some one or an old friend now ask you for money and you gave out I believe that's the kind of unexpected expenses you are talking about.
I don't think that's the type emergency we are talking about real emergency could be burial in Nigeria you already know that people spend whole lots of money when it comes to burial this is just an example of the kind of emergency fund we are talking about not road side expected expenses.
So the expected emergency you are referring to is not the real emergency when it comes to bitcoin investment.

[IceLincoln]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

I don’t understand how you people are seeing this and the conception of the idea that bitcoin is different from crypto. It’s like saying humans who are wealthy are no longer humans but wealthy humans. Bitcoin is a Cryptocurrency but it’s the first and the best performing of cryptos, you can’t because of the new tokens that are being classified as cryptos now say it is no longer a Cryptocurrency. All other coins have been classified into Altcoins, Shitcoins and memecoins but bitcoin is bitcoin.
Classification just simplifies things, it makes it easier to differentiate between coins just like how it is for humans and other things that requires clarification, there are wealthy people, rich people, normal people and poor people.

[Olatundespo]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Many new investors may be confused about emergency funds but the simple solution is for only you as an investor to find out. For example the amount of Bitcoin you are accumulation every week/month through discretionary income is easily done. This simple consideration and what kind of safety wall should be built to continue the long drive should be decided by you. I mean if you have set a point for Bitcoin that you will continue to accumulate for maybe one or two or three cycles then you will be responsible for managing it yourself because you will have to consider how much emergency fund/floating cash you will keep with you as a responsible investor. The target will be to make Bitcoin accumulation long term and you are ready to meet any emergency needs in the period.

[Finebone]

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Emergency is emergency bro when Challenges you never expected hits you it's called an emergency maybe the unexpected expenses you are talking about is for example maybe you dey go buy food stuff for market and you no expect to give out money to people you just budgeted money for food stuff only and some one or an old friend now ask you for money and you gave out I believe that's the kind of unexpected expenses you are talking about.
I don't think that's the type emergency we are talking about real emergency could be burial in Nigeria you already know that people spend whole lots of money when it comes to burial this is just an example of the kind of emergency fund we are talking about not road side expected expenses.
So the expected emergency you are referring to is not the real emergency when it comes to bitcoin investment.

No, I don't buy the idea that emergency is emergency, their are level to everything, and  emergencies are in levels, just as you illustrated above, someone or an old time friend you met in the market beg you for money comes with different pressure to health emergency, in the case of your old time friend begging you for money, you can sort that out with your reserve funds because it's the money set aside to service your Bitcoin investment either by  using it to buy aggressively during the dip or used to sort out one or two vital needs or expenses that a not part of your basic needs.
But our emergency funds should only be used for real life emergencies that threatens your Bitcoin holds, something huge not minor needs or expenses that are not part of our basic needs, something like health issues.

[Tungbulu]

Many new investors may be confused about emergency funds but the simple solution is for only you as an investor to find out. For example the amount of Bitcoin you are accumulation every week/month through discretionary income is easily done. This simple consideration and what kind of safety wall should be built to continue the long drive should be decided by you. I mean if you have set a point for Bitcoin that you will continue to accumulate for maybe one or two or three cycles then you will be responsible for managing it yourself because you will have to consider how much emergency fund/floating cash you will keep with you as a responsible investor. The target will be to make Bitcoin accumulation long term and you are ready to meet any emergency needs in the period.

Yeah, to an extent, folks needs to determine how much should be in their emergency fund, but it's recommended that they should have at least 3 months of their living expenses, then they can decide to what extent their emergency fund will get to before they stop, that is the maximum.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Emergency is emergency bro when Challenges you never expected hits you it's called an emergency maybe the unexpected expenses you are talking about is for example maybe you dey go buy food stuff for market and you no expect to give out money to people you just budgeted money for food stuff only and some one or an old friend now ask you for money and you gave out I believe that's the kind of unexpected expenses you are talking about.
I don't think that's the type emergency we are talking about real emergency could be burial in Nigeria you already know that people spend whole lots of money when it comes to burial this is just an example of the kind of emergency fund we are talking about not road side expected expenses.
So the expected emergency you are referring to is not the real emergency when it comes to bitcoin investment.

No, I don't buy the idea that emergency is emergency, their are level to everything, and  emergencies are in levels, just as you illustrated above, someone or an old time friend you met in the market beg you for money comes with different pressure to health emergency, in the case of your old time friend begging you for money, you can sort that out with your reserve funds because it's the money set aside to service your Bitcoin investment either by  using it to buy aggressively during the dip or used to sort out one or two vital needs or expenses that a not part of your basic needs.
But our emergency funds should only be used for real life emergencies that threatens your Bitcoin holds, something huge not minor needs or expenses that are not part of our basic needs, something like health issues.

I agree with you, emergencies are on a different level, there are actual emergencies and their are common emergencies, the scenario that @Umulala-alala described about giving out money to a friend can't be classified as an emergency as you can simply choose to give or not to give money to the person. Emergencies are things that you can't refuse to take care of, they are things that may in fact require your immediate financial attention, things that are of utmost importance, just care repairs and the likes of it. These are emergencies that wasn't planned for but still requires you to take care of them immediately.

[Ruttoshi]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

I don’t understand how you people are seeing this and the conception of the idea that bitcoin is different from crypto. It’s like saying humans who are wealthy are no longer humans but wealthy humans. Bitcoin is a Cryptocurrency but it’s the first and the best performing of cryptos, you can’t because of the new tokens that are being classified as cryptos now say it is no longer a Cryptocurrency. All other coins have been classified into Altcoins, Shitcoins and memecoins but bitcoin is bitcoin.
Classification just simplifies things, it makes it easier to differentiate between coins just like how it is for humans and other things that requires clarification, there are wealthy people, rich people, normal people and poor people.

I don't know what you are trying to clear here because this exact discussion has been said over and over again which is the why you should call bitcoin crypto and be specific about the name because shitcoins do not have the same potential as bitcoin.

However, your example is as vague as the word crypto because you using human as an example, which does not prove what you are trying to back up. We have a lot of rich people , poor people and middle class people. So if you just say poor people or rich people, you are not talking to any rich man specifically. Can you just come out from your house and call your neighbor human without mentioning his name and expect him to answer you. But bitcoin is one and only which is the reason we shouldn't use vague language to discribe it because it will be misleading.

Another example is gold. Why wouldn't people say jewelry but they will always be specific with the word gold. So why should bitcoin be called crypto as if it's the same with all shitcoins that is a duplicate of bitcoin and was created for personal interest and selfish reasons.

[Nightwatchmare]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Maybe what you see as an emergency is different from what other investors see as an emergency, that could be the reason you said not all unexpected expenses are actual emergencies. After you have settled all your weekly or monthly expenses and used your discretionary income to accumulate bitcoin, any other expenses that come after you have done all these are emergencies because you didn't plan for them.

[Achalugo BTC]

Maybe what you see as an emergency is different from what other investors see as an emergency, that could be the reason you said not all unexpected expenses are actual emergencies. After you have settled all your weekly or monthly expenses and used your discretionary income to accumulate bitcoin, any other expenses that come after you have done all these are emergencies because you didn't plan for them.

Mate it's not about what @Ever-young think is an emergency and what other investors think is an emergency. So what you're trying to tell us is that, if you've settled all your weekly expenses, or should I say, if you think you've settled everything, and then used your discretionary income to accumulate Bitcoin and maybe settled a few debts, and then all of a sudden a day after, you remember you forget that your hadn't gotten your mother the Television set you promised her that week, would you also consider that to be an emergency or a job for the emergency fund? If yes, then what do you think the reserve and float funds are for?

Or maybe another scenario, you got all your expenses settled and then all of a sudden, you run out of cooking gas at home, yes this is an emergency because you didn't plan for it, but it's a very minor emergency that your reserve funds can easily take care of and thus no point touching your emergency fund, that's the point @Ever-young is trying to make. it's crucial for every investor to understand the role of every backup fund, and not misuse them, that is using an emergency fund where you're meant to use a float or reserve fund, as this could potentially have its own consequences.

[I_Anime]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

I don’t understand how you people are seeing this and the conception of the idea that bitcoin is different from crypto. It’s like saying humans who are wealthy are no longer humans but wealthy humans. Bitcoin is a Cryptocurrency but it’s the first and the best performing of cryptos, you can’t because of the new tokens that are being classified as cryptos now say it is no longer a Cryptocurrency. All other coins have been classified into Altcoins, Shitcoins and memecoins but bitcoin is bitcoin.
Classification just simplifies things, it makes it easier to differentiate between coins just like how it is for humans and other things that requires clarification, there are wealthy people, rich people, normal people and poor people.

Bitcoin is also cryptocurrency, we should all know that cryptocurrency is the general name for all digital currency and bitcoin fall under it too , but bitcoin is bitcoin while the other coins are altcoins . So doesn’t mean that bitcoin is on own , because all cryptocurrencies are digital currency. And yeah bitcoin is the first same time the best of them all when come to digital currency, in form of currency and investment too . Bitcoin is a community driven coin , not like the others that can be easily manipulated by their peers owners and stuff while bitcoin is not own by no one rather is for all .

[GIF-JOBS]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

I don’t understand how you people are seeing this and the conception of the idea that bitcoin is different from crypto. It’s like saying humans who are wealthy are no longer humans but wealthy humans. Bitcoin is a Cryptocurrency but it’s the first and the best performing of cryptos, you can’t because of the new tokens that are being classified as cryptos now say it is no longer a Cryptocurrency. All other coins have been classified into Altcoins, Shitcoins and memecoins but bitcoin is bitcoin.
Classification just simplifies things, it makes it easier to differentiate between coins just like how it is for humans and other things that requires clarification, there are wealthy people, rich people, normal people and poor people.

Bitcoin is also cryptocurrency, we should all know that cryptocurrency is the general name for all digital currency and bitcoin fall under it too , but bitcoin is bitcoin while the other coins are altcoins . So doesn’t mean that bitcoin is on own , because all cryptocurrencies are digital currency. And yeah bitcoin is the first same time the best of them all when come to digital currency, in form of currency and investment too . Bitcoin is a community driven coin , not like the others that can be easily manipulated by their peers owners and stuff while bitcoin is not own by no one rather is for all .

Bitcoin is one, and it is never reasonable to compare it with any other currency, because it is different from all other coins, besides, the biggest strength of Bitcoin is that it is decentralized.

However, if we think about long-term investment, Bitcoin is the best, because Bitcoin becomes stronger after each dumping and it goes higher than before, but in this sense, other coins are not guaranteed, because if they dump, there is no guarantee that they will recover later, but the potential of Bitcoin is always very great, so choosing Bitcoin is definitely the right decision for long-term investment.

In fact, a person who can truly understand Bitcoin will definitely want to hold Bitcoin as much as he can, because the potential of Bitcoin will be very huge in the future, and this is why big companies and countries are holding Bitcoin.

[BitBakerr1]

There are some new investors who do not understand the difference between Bitcoin and crypto, they understand Bitcoin as cryptocurrency. It is absolutely not right to start investing with such a misconception because all the coins created in the crypto world, except Bitcoin, are called Altcoins, or meme / shit coins, but not all Altcoins have been successful. Bitcoin is the first to be recognized as the only digital currency in the crypto world. Bitcoin is the only recognized secure currency that works through its own digital blockchain. People currently call bitcoin digital gold because its supply is limited, its price increases gradually and it plays a huge role in protecting against inflation, so it is called digital gold. Bitcoin is the only successful popular cryptocurrency that was created by one or more people in 2009 by Satoshi Nakamoto.

Bitcoin is a digital asset that can bring success through long-term investment. But it is very important to adopt some strategies to make long-term management successful. In addition to investing in Bitcoin, we need an emergency fund for three months because we do not know anything about unknown dangers, so we need to have an emergency fund for the long term. Patience is very important to achieve success in long-term investing.

I don’t understand how you people are seeing this and the conception of the idea that bitcoin is different from crypto. It’s like saying humans who are wealthy are no longer humans but wealthy humans. Bitcoin is a Cryptocurrency but it’s the first and the best performing of cryptos, you can’t because of the new tokens that are being classified as cryptos now say it is no longer a Cryptocurrency. All other coins have been classified into Altcoins, Shitcoins and memecoins but bitcoin is bitcoin.
Classification just simplifies things, it makes it easier to differentiate between coins just like how it is for humans and other things that requires clarification, there are wealthy people, rich people, normal people and poor people.

Bitcoin is also cryptocurrency, we should all know that cryptocurrency is the general name for all digital currency and bitcoin fall under it too , but bitcoin is bitcoin while the other coins are altcoins . So doesn’t mean that bitcoin is on own , because all cryptocurrencies are digital currency. And yeah bitcoin is the first same time the best of them all when come to digital currency, in form of currency and investment too . Bitcoin is a community driven coin , not like the others that can be easily manipulated by their peers owners and stuff while bitcoin is not own by no one rather is for all .

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other Bitcoin is the first cryptocoin to exist and is a decentralized cryptocoin meaning no one has control over it not even the Creator satoshi nakamoto this made Bitcoin become so trustworthy because no one has control over it however some other cryptocurrency are centralized meaning they can create more of it and the creators have control over it.
Now to make it clear so that newbies will understand how this things are there are some other coin that are decentralized and has only a specific number of it and no one can produce more, but the reason why people don't trust those other coin so much is because the creator may still have control over it somehow.
And again Bitcoin has survived crashes, bans, and attacks for over 15 years. It has proven it can last than other crypto coin, and lastly Bitcoin has the most powerful and secure blockchain and thanks to its massive global network of miners, this is why Bitcoin is seen as the best crypto coin in the world.

[Tungbulu]

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other

For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency. Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.

[Tonimez]

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other

For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency. Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.

You're very correct. Even though bitcoin is a form of crypto currency, shitcoins and altcoins have bastardised that term with regular scams and deception which is why many people are also scared of investing in bitcoin because they see it as other cryptocurrencies. I think the right classification should be; 1) Bitcoin and 2) other cryptocurrencies which comprises of the altcoins and the shitcoins. This would allow a beginner understand the difference and judge accordingly.

Bitcoin has suffered defamation for long. People even go to the extent of comparing it to Airdrops in most cases claiming that they have equal Volatility which is not true. The knowledge you pass into a beginner from the earlier days would determine the level of interest he will put during his investment process. Bitcoin volatility is not as extreme as altcoins and shitcoins which can reduce to infinity within seconds. Most of the newbies coming into bitcoin investment now are mostly Shitcoins and altcoins traders or have been scammed and are looking for a way out after possibly staying, this is why we have to guide misinformation and guide the newbies until they have the level of understanding they need to take their decisions

[Emjay24]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

There is a good difference between emergency and periodic expenses, for example your cooking gas which you may not be refilling every month due to constant power supply and an electric cooker being an alternative, but the fact remains that you're aware that this gas should be refilled one day and it taking you by surprise doesn't make it any emergency since you should've started gathering funds for its refilling right from the very last refill and kept it separately while anticipating the day it gets finished.

Real emergencies are what you have no idea that it would happen and you do not know the level of impact it would have like having an accident and getting your car badly damaged or even someone from your Immediate family being hospitalized and needing emergency attention and you have to provide some funds immediately without prior information, then your emergency funds can come to the rescue while you gradually replace what you removed from it and getting it set for yet another real emergency

[Creeper0]

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other

For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency. Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.

Is calling Bitcoin crypto really an insult to Bitcoin? Crypto refers to Bitcoin as well as shitcoins and altcoins. We know that shitcoins and altcoins have been involved in fraud at times. It is not that the word cryptocurrency will be tarnished because of the fraud of shitcoins and altcoins.

For example, there are both good and evil among mankind. There are murderers, there are cheaters, there are thieves and there are people involved in other immoral activities among mankind. There are even honest people among mankind. Now if I call you a human, will you be insulted? Or will anyone be confused by calling you a human? If you are honest or dishonest, you will be responsible alone and your name alone will be in disrepute. Just as the entire human race will not be tarnished if your name is defamed, all crypto will not be tarnished due to the fraud of shitcoin and altcoin. So just as you are human by nature, it is foolish to hide this identity. Similarly, it may be foolish to hide the fact that Bitcoin is crypto by nature. Those who have no knowledge about crypto or have no knowledge about Bitcoin will be confused by calling Bitcoin crypto. Basically, they are confused about digital economic management.

[Nightwatchmare]

Maybe what you see as an emergency is different from what other investors see as an emergency, that could be the reason you said not all unexpected expenses are actual emergencies. After you have settled all your weekly or monthly expenses and used your discretionary income to accumulate bitcoin, any other expenses that come after you have done all these are emergencies because you didn't plan for them.

Mate it's not about what @Ever-young think is an emergency and what other investors think is an emergency. So what you're trying to tell us is that, if you've settled all your weekly expenses, or should I say, if you think you've settled everything, and then used your discretionary income to accumulate Bitcoin and maybe settled a few debts, and then all of a sudden a day after, you remember you forget that your hadn't gotten your mother the Television set you promised her that week, would you also consider that to be an emergency or a job for the emergency fund? If yes, then what do you think the reserve and float funds are for?

Or maybe another scenario, you got all your expenses settled and then all of a sudden, you run out of cooking gas at home, yes this is an emergency because you didn't plan for it, but it's a very minor emergency that your reserve funds can easily take care of and thus no point touching your emergency fund, that's the point @Ever-young is trying to make. it's crucial for every investor to understand the role of every backup fund, and not misuse them, that is using an emergency fund where you're meant to use a float or reserve fund, as this could potentially have its own consequences.

If you plan on getting your mother a television set when you receive your monthly income, and you forget to get her the television set after you have received your money income, that isn't an emergency because you planned for it, and it was part of your monthly expenses, but you just forgot to solve it. If you suddenly run out of cooking gas at home, that's also not an emergency because it is one of your expenses for the month, and when you receive your monthly income, you are supposed to refill your gas cylinder so that it will serve till you receive your next month's salary. So if you suddenly run out of cooking gas, that's your fault, and you are responsible for your actions.

[JayJuanGee]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Of course, it is true that any kinds of unexpected expenses would be spent from discretionary funds prior to being spent from back up funds, yet ti seems to me that we label emergency funds as emergency funds in order to try to categorize a kind of higher priority of alertness to know that if we are running out of funds to deal with various expenses and we are having to tap into emergency funds, then we may well be engaging in a certain level of irresponsibility and/or preparedness in regards to how much of the various back up funds that we are keeping on hand, since at any point we could have situations that come about that end up exhausting our various extra cash funds and even potentially deplete various cash funds and other funds that we have, and we may well consider that bitcoin is the very last place from which we are going to want to spend, and surely sometimes we could end up putting ourselves into a place where we have to use some of our bitcoin as emergency funds because we are running out of funds in other places.  We have to use our judgement in regards to which funds to spend from first and what might be the odds that we are able to replace those funds... .

Let's say that we had been investing in bitcoin for around 7.5 years (going by your forum registration date Ever-young), and we have been building up our back up funds and we feel that our cashflow management is in a pretty good place.  We are in a situation in which we tend to hold 3 months of expenses in cash that we consider emergency funds and then we tend to have another 2-6 weeks that we consider to be reserve funds, and the amount varies based on what kinds of things that we have going on in life and if we might be saving for one thing or another... Maybe we have some other investments that are not bitcoin that are right around 4-5 months of our expenses, and maybe our bitcoin holdings are around 7-8 months of our expenses... So we are feeling pretty good about where we are at. 

Let's say that usually we get paid every two weeks from our main income source, and we have some smaller income sources of side jobs that we have that maybe only constitute about 10% of the size of our overall income, yet there comes a time in which our employer (our main source of income) runs into some unexpected glitches in his payment systems or some other strange things happen with him, which we did not consider would happen.  We had been working for this particular employer for right around 10 years, and so we have faith that he will work things out with his ability to pay.  Accordingly, we keep working for our employer while  we are not getting paid, and at the same time, we have some kind of an incident with our car or maybe the roof of our house is damaged in a storm that our car was damaged at the same time, so then maybe we have insurance claims yet they are not paying until they are resolved, yet we need to have a functioning car so we have to go shopping.. and my point is that whether we call these things emergencies or not, we likely will be drawing down on various forms of our cash and perhaps at some point we might draw upon our emergency funds and maybe at another point we consider if we might get a temporary loan or maybe we will draw upon our bitcoin, maybe depending on our getting reimbursed and dates that various checks might be expected to arrive in our bank account.

My example might not be very great since it ended up fitting into kind of emergency circumstances, and the point that I was trying to make was that there could be somewhat norma circumstances that come up that affect your cashflows, and even if right before all of the things happened, there had been a dip in the BTC price, so that you used up most if not all of your reserve funds, and maybe if you were overly excited, maybe you dipped into more than 2 weeks of your emergency funds... so then you might be caught in a situation where you usually keep a lot of back up funds, but then all of a sudden, you don't have any extra money and some of your income sources dried up, but you still have certain expenses.. and maybe you can cut some expenses, but other expenses you might not be able to cut, and you might have had already incurred some of the expenses with an expectation that your paycheck was going to be coming in as expected. which it had always previously come in as expected for 10-ish years or more.

From my perspective, the idea of floating cash does not really give much if any extra money.  I tend to think about float as a kind of money that is within discretionary funds each month, but that money is held aside because some expenses have not become specifically known.. like maybe the utilities and the food charges and transportation costs vary, so a guy keeps enough to cover all of them in case they are high, yet once each of them become known, then any of the extra money that was in the floating cash would become part of discretionary funds... A person might have good and solid practices in regards to both figuring out the expenses and/or keeping extra float or maybe some folks are not very good at keeping a float, so they end up tapping into other funds because they failed/refuse to keep sufficient/adequate float funds in a responsible way.

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Emergency is emergency bro when challenges you never expected hits you it's called an emergency maybe the unexpected expenses you are talking about is for example maybe you dey go buy food stuff for market and you no expect to give out money to people you just budgeted money for food stuff only and some one or an old friend now ask you for money and you gave out I believe that's the kind of unexpected expenses you are talking about.
I don't think that's the type emergency we are talking about real emergency could be burial in Nigeria you already know that people spend whole lots of money when it comes to burial this is just an example of the kind of emergency fund we are talking about not road side expected expenses.
So the expected emergency you are referring to is not the real emergency when it comes to bitcoin investment.

I think you raise some good points Umulala-alala, since the management of cashflows can overlap into various categories of funds and surely I think about emergency funds as the last funds that you have left prior to having to dip into your bitcoin, and sure bitcoin could serve as emergency funds, yet hopefully many of us are learning that it is not a good practice to use bitcoin as an emergency fund, so part of the reason to be so anal about making sure that we have emergency funds and various other kinds of back up funds is so that if there end up being various situations in which the expenses exceed the income, then we have options in regards to which funds to use first and the fewer funds we have the fewer options that we have, so part of the reason that we label emergency funds in such a way does not exactly have to do with how or if they can be used, but is to signal a kind of level of problematic place that a person might be if the only funds that he has left happens to be emergency funds and/or bitcoin.

If he ONLY has those two kinds of funds to choose from (bitcoin and emergency funds), he may well recognize that he would likely feel that he is not in a very strong and/or comfortable place in regards to what options he has available (and perhaps he might have had contributed towards putting himself into such a place by not engaging in better cashflow management balances).. and surely the longer and longer that we are in bitcoin, the more that we should feel that we have a variety of options, and even if we continue to build our bitcoin (and our cashflow management systems/practices) and even if we have not gotten to our target bitcoin accumulation place, the longer and longer we are in bitcoin, the more that we have a variety of options that result in our being able to survive (and perhaps even thrive) through a variety of circumstances that others consider to have had been negative, yet we are able to have options and even financial and/or psychological cushions in our going through such negative financial and negative psychological circumstances.

[edited out]

I agree with you, emergencies are on a different level, there are actual emergencies and their are common emergencies, the scenario that @Umulala-alala described about giving out money to a friend can't be classified as an emergency as you can simply choose to give or not to give money to the person. Emergencies are things that you can't refuse to take care of, they are things that may in fact require your immediate financial attention, things that are of utmost importance, just care repairs and the likes of it. These are emergencies that wasn't planned for but still requires you to take care of them immediately.

Each of us are free to consider our balances, and whether we might be running too much risk, and yeah, we agree that the old friend situation is not an emergency, but we still could choose to use those funds, even if that is all that we have left, and sure if we end up using  some of the funds, then we might be treating those funds kind of as reserves.. but there can surely be some flexibility.

If we know that we are getting paid in 5 days and we don't have any money left, so then if we take $100 out to give (or loan) to our friend, we know that we are putting ourselves at risk for 5 days, and then we also cannot be 100% sure that we will be paid in 5 days, so we have higher level of assurance that we are getting paid in 5 days once that money comes into our account.. and at the same time, even when money goes into our account, sometimes banks screw up or even freeze funds or even lose money, so there could be problems with money that we think that we have, and yeah, maybe we keep one month of our emergency funds in physical cash. 

Another month in our bank account and perhaps another month in some exchange... so when push comes to shove our emergency funds are not all in the same place and there can be risks in regards to how we hold them, so we could even decide to keep an extra week in each of those three forms based on the risk that any one of the places that we are keeping our emergency funds could run into issues that contribute towards our having less than we thought that we had in the event that any of them were to experience some kind of an issue that blocked our abilities to get to the funds... for example, we have the physical cash in a safe but the house burns down, so the money in the safe got damaged, even though we thought that it was secure and protected.. it had issues in the way it was being held.. but maybe our money in the accounts were sill accessible so instead of having 3-4 months of emergency funds, after the fire, we ended up ONLY having 2.4 months of actual available funds.

[Achalugo BTC]

i have practicing having emergency fund with my investment and outside my Bitcoin journey i have been make sure that my emergency fund is always available to cover when the needs arisess, i really appreciate some of the forum topics because they really help me to build up the better me today.

Setting aside emergency funds when you are investing in bitcoin is not for you to use to solve your basic needs because if you do that, you are taking a wrong step in your bitcoin investment, and you will find it difficult to hold your bitcoin investment for 4-10 years. If you want to solve your basic needs, you will use your weekly or monthly income to solve your basic needs, while you will use your emergency funds only when an unexpected problem you didn't plan for arises.

While that's true. It's also worth noting that not all unexpected expenses are actual emergencies, that's why it's also advisable to have other backup funds asides the emergency fund, just like the reserve fund and also the float fund, this could also be used to cover some unexpected expenses which are not actually an emergency, so that the emergency fund will always be reserved until when an actual emergency occurs.

Emergency is emergency bro when challenges you never expected hits you it's called an emergency maybe the unexpected expenses you are talking about is for example maybe you dey go buy food stuff for market and you no expect to give out money to people you just budgeted money for food stuff only and some one or an old friend now ask you for money and you gave out I believe that's the kind of unexpected expenses you are talking about.
I don't think that's the type emergency we are talking about real emergency could be burial in Nigeria you already know that people spend whole lots of money when it comes to burial this is just an example of the kind of emergency fund we are talking about not road side expected expenses.
So the expected emergency you are referring to is not the real emergency when it comes to bitcoin investment.

I think you raise some good points Umulala-alala, since the management of cashflows can overlap into various categories of funds and surely I think about emergency funds as the last funds that you have left prior to having to dip into your bitcoin, and sure bitcoin could serve as emergency funds, yet hopefully many of us are learning that it is not a good practice to use bitcoin as an emergency fund, so part of the reason to be so anal about making sure that we have emergency funds and various other kinds of back up funds is so that if there end up being various situations in which the expenses exceed the income, then we have options in regards to which funds to use first and the fewer funds we have the fewer options that we have, so part of the reason that we label emergency funds in such a way does not exactly have to do with how or if they can be used, but is to signal a kind of level of problematic place that a person might be if the only funds that he has left happens to be emergency funds and/or bitcoin.

If he ONLY has those two kinds of funds to choose from (bitcoin and emergency funds), he may well recognize that he would likely feel that he is not in a very strong and/or comfortable place in regards to what options he has available (and perhaps he might have had contributed towards putting himself into such a place by not engaging in better cashflow management balances).. and surely the longer and longer that we are in bitcoin, the more that we should feel that we have a variety of options, and even if we continue to build our bitcoin (and our cashflow management systems/practices) and even if we have not gotten to our target bitcoin accumulation place, the longer and longer we are in bitcoin, the more that we have a variety of options that result in our being able to survive (and perhaps even thrive) through a variety of circumstances that others consider to have had been negative, yet we are able to have options and even financial and/or psychological cushions in our going through such negative financial and negative psychological circumstances.

Your approach highlights the importance of having financial planning for emergency purposes and cash flow management system in place, because having multiple options that will provide money, can be use to sort out various financial challenges and this method can support one in their journey of accumulating Bitcoin for long-term goals and can also provide peace of mind.

In addition to this, if they continue in investing or holding Bitcoin, they are likey to find a financial framework that allows them to be able to navigate through unexpected challenges without compromising their long-term financial goals.
But in all, if they don't have patience and discipline, they won't be to achieve their success easily.

[JayJuanGee]

[edited out]

other coins are not guaranteed,

I largely agree with your post, except something is missing from your assessment of other coins as compared with bitcoin, and you even make it seem as if bitcoin is guaranteed, when it is not.

You might be helped if you were to focus a bit more on various shitcoins by viewing them as affinity scams on bitcoin, which means that amay of them are either copying bitcoin or trying to be better than bitcoin, while the fact of the matter is that they need bitcoin in order for them to be used to scam others into believing that they have any kind of value.. and so surely there can be several of the shitcoins that can pump higher than bitcoin, yet they still likely have not really added anything sufficiently new that is like 10x better than anything that bitcoin can do so that they could end up taking market share from bitcoin.. so in that sense many folks who are not sufficiently aware of the difference between bitcoin and the various shitcoins are lured into the possibility that they could pump for the short term and might even appear to be gaining market share on bitcoin, and at the same time, folks might end up either not investing into bitcoin or underinvested into bitcoin because they are lured into inferior and unsubstantiated crap that might not even be what it proclaims to be or want to be.. and so sure people are completely free to invest into shitcoins and even to get distracted by them, but they are either misleading or employing vague language if they are trying to imply that bitcoin and shitcoins are in a similar category, which frequently means that they have not even studied bitcoin enough in order to at least error on the side of investing an overwhelming majority into bitcoin first before even fucking around with various ones who might be exaggeratingly proclaiming to either replace bitcoin or to supplement bitcoin.

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other

For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency.

To me it seems better to refer to various non-bitcoin cryptocurrencies as shitcoins or some other term that denigrates them and frames them as being inferior to bitcoin.  When we are referring to bitcoin, there might be times that we will talk about bitcoin and various other cryptocurrencies or even shitcoins or perhaps projects that relate to bitcoin or maybe some projects attempt to overlap bitcoin an shitcoins, such as exchanges might allow for the trading of bitcoin and shitcoins, or maybe some projects might relate to bitcoin without creating their own token.  Even lightning network is related to bitcoin, yet some folks try to proclaim that lighting network is not bitcoin, even though lightning network does not have the production of extra bitcoin, even though there can be some technical issues in transacting on lightning network that could cause a person to lose their bitcoin in ways that might not be possible if the bitcoin were transacted on the bitcoin network rather than getting put on the lightning network.

Sure, legally, there are descriptions of digital currencies and cryptocurrencies, and sometimes the various legislative clarifications are not practical in terms of making sure to clarify that shitcoins are inferior to bitcoin.. and likly in legislation (or court cases) they are not able to make those kinds of stances to clearly assert bitcoin as being better than shitcoins.. yet even though some legal entities might use terms to describe bitcoin within the category of crypto currency or digital currency or even block chain technology, as individuals we should be attempting to be more clear in terms of differentiating bitcoin from shitcoins in order that folks are not mislead into believing that shitcoins are sufficiently similar to bitcoin  and/or even worthy of diluting our value, time and energies into them..

Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.

You might be correct that there might be a lot of instances that we can be more clear with what we are saying, yet there may also be times where we might want to use the term crypto currency or even to suggest some areas in which  we are referring to both bitcoin and to shitcoins, so sometimes there might not be clear ways to avoid using certain terms, especially if we might come across someone else using those terms, we might want to use similar terms in order to communicate whatever we might be wanting to communicate. 

For example if we might be wanting to talk about want some legislation does, we might have to use some of their terms, and even to sometimes question the extent to which some ideas might not be clear, whether they are referring to present scenarios or future scenarios, and/or even if such ideas might be coming from law makers, judges, agency heads, elected officials, the media or some other recognized authority on definitional matters.  We do not necessarily need to agree, but sometimes we might still need to bat around ideas using similar terms and hopefully making our points in clear ways.. yet many of us know that there even might be cases where we don't know certain answers or how to respond, so there might be legitimate reasons, from time to time that using vagueness might be acceptable.

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other

For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency. Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.

You're very correct. Even though bitcoin is a form of crypto currency, shitcoins and altcoins have bastardised that term with regular scams and deception which is why many people are also scared of investing in bitcoin because they see it as other cryptocurrencies.

Many folks do not know what bitcoin is.. so they don't know how to consider bitcoin separate from shitcoins. Even bitcoiners will frequently have difficulties describing ways in which bitcoin and shitcoins are not the same thing.

I think the right classification should be; 1) Bitcoin and 2) other cryptocurrencies which comprises of the altcoins and the shitcoins. This would allow a beginner understand the difference and judge accordingly.

I thought that anything that was not bitcoin is a shitcoin.  What is the difference between altcoins and shitcoins? are you trying to say that some altcoins are not shitcoins?

Bitcoin has suffered defamation for long. People even go to the extent of comparing it to Airdrops in most cases claiming that they have equal Volatility which is not true. The knowledge you pass into a beginner from the earlier days would determine the level of interest he will put during his investment process. Bitcoin volatility is not as extreme as altcoins and shitcoins which can reduce to infinity within seconds. Most of the newbies coming into bitcoin investment now are mostly Shitcoins and altcoins traders or have been scammed and are looking for a way out after possibly staying, this is why we have to guide misinformation and guide the newbies until they have the level of understanding they need to take their decisions

This does not seem come off as clear guidance.

The true fact is that bitcoin and other crypto coin are all called or classified as cryptocurrency however they are not the same they are totally different from each other

For the sake of newbies, it's better not to use the term crypto currency to address Bitcoin as this can often turn out to be misleading and pass the wrong idea about Bitcoin. I feel it'll be more appropriate to call it a digital asset instead of crypto currency as digital asset best describes the nature of Bitcoin and not crypto currency. Using the term crypto currency will only make people see or compare Bitcoin to all of them shitcoins, which is not only an insult to Bitcoin but also the biggest misconception an investor or anyone would have about Bitcoin. So it's best to completely avoid the using the term crypto currency when talking about Bitcoin.

Is calling Bitcoin crypto really an insult to Bitcoin?

Yes.

Crypto refers to Bitcoin as well as shitcoins and altcoins.

You are technically correct, but so what?  You are being vague,  misleading and perhaps even deceptive if you are lumping bitcoin in with shitcoins.

We know that shitcoins and altcoins have been involved in fraud at times. It is not that the word cryptocurrency will be tarnished because of the fraud of shitcoins and altcoins.

Bitcoin has been involved in fraud too.

For example, there are both good and evil among mankind. There are murderers, there are cheaters, there are thieves and there are people involved in other immoral activities among mankind. There are even honest people among mankind. Now if I call you a human, will you be insulted?

You are making a largely irrelevant point.

Or will anyone be confused by calling you a human? If you are honest or dishonest, you will be responsible alone and your name alone will be in disrepute. Just as the entire human race will not be tarnished if your name is defamed, all crypto will not be tarnished due to the fraud of shitcoin and altcoin.

You are trying to proclaim that bitcoin should be referred to as crypto?  That makes no sense. We have affinity scams going on, and a lot of shitcoiners and bitcoin naysayers who use the term crypto in order to try to imply or suggest that shitcoins are similar to bitcoin or better than bitcoin, and even used to create confusion, vagueness and/or to mislead, yet you still think that it is a good idea to go along with such a vague and misleading term?

Maybe you don't even understand what bitcoin is and what purpose comes from trying to be clear in our references?

So just as you are human by nature, it is foolish to hide this identity.

This is a misleading attempt at an analogy.  You are not helping your argument, and maybe you are just trying to promote ambiguity and/or to mislead folks into an acceptance that bitcoin just happens to be one variation of crypto?

By the way, technically bitcoin is one of the crypto currencies, but folks who understand bitcoin are not likely to be fucking around spreading ambiguities or misleading folks into thinking that bitcoin and shitcoins are the same thing merely because technically they can all be labeled as crypto currencies.  The issue should not be too difficult to understand.

Similarly, it may be foolish to hide the fact that Bitcoin is crypto by nature.

You are likely the one who is foolish by insisting on the use of such a term.. Tell us what are you wanting to talk about? in regards to bitcoin as it relates to various shitcoins?  Sure there could be times where the term crypto or crypto currency is appropriate to use, yet many times you better clarify what the fuck you are talking about instead of talking in vague nonsense and trying to act like you are smarter than everyone else merely because bitcoin happens to technically fit within a broader definition of cryptocurrency... Again.. so what?  You come off as retarded to insist on such.

Those who have no knowledge about crypto or have no knowledge about Bitcoin will be confused by calling Bitcoin crypto. Basically, they are confused about digital economic management.

You are the one who sounds confused.

Which shitcoins are you talking about?  What is the point that you are wanting to make about bitcoin as compared with various shitcoins?

Do you want to say that various shitcoins are traded on exchanges? Do you want to recommend any?  How about various crypto that are being bought by companies to formulate part of their treasury?  Are the buying any specific cryptos? and which ones and why?  Do you think that some shitcoins are better than others in one way or another?  How do they differ from each other?  Which ones are proof of work? Do any of them have difficulty adjustments? 

How are the coins issues and then how are they maintained?  How are they kept secure and how do we know about their supply? Is there anything that assures the validity of each of the coins? and if so how are they validated?  Does it make a difference? Should these validations processes be compared with bitcoin or do we want to consider the various validation processes of the various crypto in their own light? 

I am sure you have all this figured out, to the extent that you are so smart about labelling, and surely there is no real benefit in regards to learning about bitcoin first sine we can create a bunch of nonsense characteristics and then describe each cryptocurrency and figure out which of the nonsense characteristics each of them have or don't have.

You come off as even more arrogant to be arguing the dumbass point that bitcoin is a cryptocurrency, which many of us already know that bitcoin is a cryptocurrency, yet at the same time, there is likely no real productive purpose to convoluting terms and lumping bitcoin within this category if you don't first make sure that you understand what bitcoin is in the first place.. .so then you would have a reference point in regards to the various shitcoins and the extent to which any of them might be worthy of being talked about, depending on what point you are wanting to make about them in potentially comparing them to bitcoin.