Quote from: red4slash on January 17, 2024, 09:41:56 PM

That is the last choice when that will be taken by us in the end when it is a difficult situation and there is no other way we can do because it is already inconvenient to deal with some difficult situations then I think it is not a problem to sell a small part of the portfolio that we have to support so that our lives survive but of course there is another note that this can be done if we have already profited from it and when we have been doing DCA for a long time I think we have definitely benefited from the previous DCA so selling for very urgent needs is not a problem if it is the last choice and the only option left because we must realize that even though investing in bitcoin is important but supporting the current life to survive well is much more important. The only option left because we must realize that even though investing in bitcoin is important, supporting life today so that it survives well is far more important.

Of course I will partially agree with you for some reason but never completely. Though some times situations where our life's depend on our investment, we probably don't give an f* of what it will cost us but as long as we are alive it's the best option.

So this where most of us here in this thread gets it's all wrong because emergency funds are savings that are might to bail us put of situations that would have cost us our investment rather it will only take your emergency funds instead of your investment, that is the core purpose of emergency funds.
but most of you don't really understand this fact, if you're preparing yourself for investment, your emergency fund should be a priority for you in order to survive all kind of waves including the life threatening issues that was supposed to cost you your investment. This emergency funds should not just be for a mere car repair issues or minor medical issues but contain both the funds that will probably drive you away from all kind of problem that will seek you to attempt with your investment.

If you wish to understand Bitcoin investment very well I will suggest you go to JJG’s Outline of Bitcoin Investment Ideas thread there you will read more about both emergency funds and all the methods of Bitcoin accumulations.

Quote from: Troytech on January 17, 2024, 11:36:50 PM

I think for now I'll just follow up a bit till I can grab what your saying fully, I'll try my best to keep following on this thread. I can see a I've got a lot to learn here. What kind of wallet is best for holding, I just keep mine on Binance, do u think its okay?. If mistakes are inevitable, I'll make sure my back up funds are always in place.

Buddy! Yeah you've got alot of learning to do not just here in this thread but the forum generally. but as long as you keep up here you will for sure get aquatinted with the buy the dip and hodl knowledge and I will suggest you read further to comprehend everything that is being discussed here by reading this thread JJG’s Outline of Bitcoin Investment Ideas

For wallet, it's best to hodl a good stash of Bitcoin in a secured wallet and not an exchange like binance. A self custodial wallet is most advised and for such you can create a cold wallet on an airgapped devices to be more secured with you holdings. but if you're just holding a very low amount of Bitcoin you can probably still keep it on an exchange wallet for some time but as soon as it hits a $500 and above then you should move to a good wallet like I have suggested above.