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It’s not easy for a beginner to choose a
cryptocurrency at the beginning of their road, but for me personally it was possible in a short period of time. Although of course I didn’t understand much. Despite this, I was lucky and
crypto grew up.
Now I see how
crypto bloggers from YouTube have a great influence on newcomers. They say and newbies buy it. It scares. For the last 2 years, I have been watching one blogger from the CIS region imprisoned a bunch of people in the
CHIA. His videos get 50k views, but this
altcoin is falling all the time. I have no proof, but
CHIA probably paid him good money. Moreover, some of his subscribers justify him and come to his defense. I’ll just say that it’s better to think with your own head, some
crypto bloggers are talented psychologists and mislead the crowd.
By the way, recently another
crypto blogger told about the money they pay him, these are huge numbers that don’t fit in my head.
I am having trouble figuring out how your post relates to this thread. We are not talking about shitcoins here.
I wish I had that knowledge years ago when I started my Bitcoin journey then I for sure would have been a more successful trader, but I'm still very thankful for the knowledge I've acquired and still acquiring.
We are not talking about trading here.
Again, When investing in Bitcoin, it's a good idea to use funds that you don't plan to use anytime soon. Since Bitcoin is obviously a long-term investment, it's also crucial to have emergency funds on hand in case you ever need to take care of an emergency. In that case, you would just think about using your backup funds rather than considering selling your Bitcoin to cover the expense.
For sure this part is correct, and the more adventurous that anyone becomes with his/her ongoing bitcoin investing, then there may well need to be some kinds of ways to ensure that the cashflow cushion is sufficient, and so one way is to project out cashflows, and so variance in cashflows (which includes expenses) would not necessarily affect the emergency fund, it would just be protecting from variance, and so in that regard, emergency funds are rarely if ever tapped into, even though there could be a significant amount of variance in which some of the monthly expenses might not be coverable by monthly income and so then there may well be cushions to account for that variance.. and if it is mostly expected variance, then that would not be emergency funds... so people can structure these kinds of emergency funds and cashflow matters in a variety of ways in order to help prevent from getting into a pickle, and they may not realize if their system is inadequate until it ends up getting tested in extreme ways and then they will find out if they have enough money in their extra cashflow and also their emergency fund in order to NOT have to sell any BTC at a time that is other than their own choosing.