Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
rachael9385
on 06/02/2024, 22:27:48 UTC
including that you should not be touching emergency funds if you have a way of resolving the matter, and you likely should not be using emergency funds to invest into anything, including bitcoin, unless you have some decently strong confidence that you are going to be able to replenish those funds in a fairly soon timeframe.

Absolutely correct sir, after using your emergency fund, there is a need to refill it as soon as possible before a other emergency need arises. And that is why we must in the first place secure an emergency fund upto 3-6 months worth our salary or monthly expenses. So that, should in case we run into any problem like, having a delay in salary payment or sacked from work, within that time frame we'll be able to look for another source of income to keep the investment going. And this is the more reason why we need to take our emergency fund seriously, since we can't actually predict every outcome of our decision and life activities. We should prepare to handle tough situations by securing emergency funds.

If you noticed, I'm one of the most excited user of the DCA method. I'm forever grateful to @JayJuanGee for his input and guide in his posts and replies, it was a whole new learning experience for me.

I can proudly say that, I'm also a beneficiary of Mr JayJuanGee's teachings and that is why, i keep track of his posts to learn from his wisdom any time he makes a post. He has been a blessing to me and I believe other forum member have also learnt a lot from his teachings. The confidence I have today on Bitcoin was built by my engagement with Mr JJG's posts.
I can hopefully say that you guys are amazing, the discussion here are interesting as it tells about how to deal with Bitcoin accumulating process through the help of DCA method.
Moreover everyday I make sure to read some important quotes by @@JayJuanGee because his words are absolutely getting more interesting every day.
However, without this discussion many of us including my self will not know how to accumulate Bitcoin and truth be told that before me joining this forum I don't know what DCAing was all about, so I get lost visiting this thread back then but now I am enjoying the discussion because I have known more about Bitcoin accumulating and what's DCA method is about.
@Makus, you get it right, any investment without a proper plan is nothing but a crab as the investment will end up folding at end. Emergency funds separate you from selling your coins to sort emergency cases, when you have saved 3 to 6 months salaries for emergencies you can start buying Bitcoin with DCAing method and you will not be affected by and money issues as you already have some money that are separate from your investment that you can use anytime to settle things.
With DCA you can buy any amount you want to buy that's why DCA method is easier to use for accumulating Bitcoin.