Quote from: Macadonian on Today at 12:27:16 AM

Quote from: JayJuanGee on February 27, 2023, 08:51:17 PM

Be careful in regards to going 100%, even in bitcoin.

You need to be able to make sure that you can cover your expenses, including emergencies.. so usually for the vast majority of peeps (normies) and even non-normies, it is not a good idea to go 100% into anything (especially when we are in a transitory period like this, and also that bitcoin constitutes way less than 1% of the word's population's adoption.. and even way less than 1% of the monetary and monetary derivatives values.. not even accounting for the likelihood that bitcoin is quite likely going to continue to increase the size of the monetary value pie in the coming years.. for perhaps more than 200 years into the future and longer) unless you have some very exceptional circumstances.

Even the most hardcore Bitcoin maximalists are not 100% Bitcoin because you cannot survive 100% on Bitcoin. Until there is a service which allows you to pay your mortgage, rent, groceries, daily expenses and any other expenses you have you cannot go 100% Bitcoin. If you do you will probably get stuck. Try finding a dentist that accepts Bitcoin. You cannot unless you live in El Salvador where it is legal tender. In the USA you are not going to be able to live off of Bitcoin on its own.

I suggest having emergency funds but they could differ between people. If you are a older person you might take into consideration that you will need more money because the chances of having a emergency related event is more likely. If you are a younger person you might not have any unexpected health issues that can pop up but no one is immune to falling over and breaking a bone or smashing their teeth out so everyone should have a bare minimum of at least $3000 in their emergency savings but I recommend more.

Financial management is very important and dividing funds into several portions is something that everyone must do. 100% in bitcoin sounds like you are slowly digging your own grave, not that bitcoin is bad or anything but you need fiat money to live your life, i own a car wash business and i only invest 50% of my profits in bitcoin, 50 % of the rest i use to pay for electricity, rent and other daily needs. living life is a trick, if the trick you use is wrong then the effect will be prolonged especially for those who already have a family ^(married)