Quote from: Dorkylickjj on Today at 04:50:33 PM

.....and other thigns like having an emergency fund which at times would take 3 months or 6months of income to build and having reserves and floats to carry around that would help us have a financial cushioin and maximise our investment in bitcoin.

I understand what you are saying, Dorkylickjj .. but it is still unclear..

Technically, you are correct.

An emergency fund it 3-6 months worth of income - yet more accurately, an emergency fund would be 3-6 months of expenses, and sure if you build up an amount of an emergency fund that is actually 3 months of your income, then it likely should end up going a little bit longer than 3 months - depending upon if you might be able to reduce your expenses during any actual emergency that would end up taking place... and if anyone ends up having an actual emergency, he likely is going to dread if he were to ONLY have 3 months and wished that he were to have more, yet we know that it likely tends to take quite a bit of resources to build up an emergency fund, even one as small as 3 months.. yet it is something that really provides a lot of security and ability to take greater risks and to be more aggressive in terms of investing into something like bitcoin.. ..

Another thing is that many of us likely imagine that if we are brand new to investing and we are living in a way similar to many people, we might start out with only 2-4 weeks worth of float, reserves and/or emergency funds, and so we might have frequently considered that 2-4 weeks is quite a bit of "extra cash" just sitting around and just there for various shortages in cashflow, and we might be able to get by for years and years and years with such pracices of sparsely maintaining savings and/or any emergency fund.

So if we are wanting to build up our current emergency fund, float, reserves to be at least 3 months and likely to have a bit more than 3 months in there, then it well could take us 6-18 months to build it up to such higher levels.. .. just depending on how much discretionary income that we have and if we might simultaneously be wanting to get started investing into bitcoin and building our emergency fund, reserves and float at the same time that we are making our earliest investments into bitcoin and sat stacking.

Quote from: AirtelBuzz on Today at 05:21:35 PM

If your investment is right then your success is guaranteed .....

That is a pretty dangerous mindset AirtelBuzz

I will agree that there are practices that are better than others, and there are a lot of ways to hedge your bets so that you have very good odds of success.. .. but no one is guaranteed of success, even if s/he does everything 100% correct.

And, I doubt that any of us should believe that we can even do all things 100%, yet we can try to do the best that we can with the resources that we have and we can make sure that we think through our allocations and make sure that we have various cushions.. but still we could make mistakes or there could be some crazy kinds of oversights or mistakes that we end up making, which also might end up being largely blamed on bad luck rather than anything that we did wrong.

Anyhow, it is dangerous to think that matters are guaranteed, even though there are quite a few things that we can do that are building in a direction that is within our preparations and expectations and to improve our odds of success in terms of however we might define success that is hopefully based on our own individual circumstances.

Quote from: teamsherry on Today at 09:46:14 PM

Quote from: Winterfrost on Today at 05:37:46 PM

the problem is that the misconception about Bitcoin and cryptocurrency has made so many naive folks to invest into any cryptocurrency thinking that it has the potential of of increasing in similar proportion with bitcoin and although some project might have had a positive trend afterwards it's always meters down the road which should have thought those folks great lesson that Bitcoin stands as an exception to whatever crypto project that comes up. Imagine he invested such amount into Bitcoin? Do you know how strong his portfolio would have been? Even when some folks think that after stacking up a good amount of Bitcoin and have probably made a good amount of profit that it's now time to sell some and diversify it into other areas and then you're considering investing your profit into an altcoin or a meme project? One of the things we need to learn in our quest to multiplying our income is that the source that gives you those profit you're considering using to invest into another project remains your most reliable source you shouldn't play with for any reason. Well, these are all stories that don't count at the moment and I just hope he has learned the right lesson by now.

What misconception are you talking about, everyone knows that there is a clear margin between shitcoins and bitcoin, yeah bitcoin might be a cryptocurrency but that doesn't make crypto currency BITCOIN there is a clear difference, how would someone just invest in a shitcoin thinking that it would give the Same result as bitcoin, the truth is that most persons that are investing in shitcoins are just gamblers and they already know the risk involved and that why I don't pity them, so yeah don't try to show pity by giving an excuse that they were under the ignorance of misconception, their knew the risk they took it and they also know that bitcoin was a better option but were looking for quick gains and they felt the hard side of messing around with their money.

There are shitcoiners with legitimate confusion, and they might think that they already know about bitcoin or they know enough about bitcoin.. so frequently a person will not know what they don't know, so even smart people can get sucked into various shitcoin talking points without actually realizing that they have little to no clue in regards to what bitcoin is.

Another thing is that there likely are a lot of people who have heard of the word bitcoin, and they might think that they have some kind of a decent idea what it is, yet merely hearing the word and sometimes hearing some mainstream rendition of what it is, is not enough to actually realize actually what bitcoin is.. and so actually understanding ideas of sound money might be a bit more foreign to people than we presume such a topic as "common sense" when there are a lot of ways that people can get sucked into believing they know more than they do, and it may well be a good idea for some of them to actually spend a bit of time really studying bitcoin specifically.. whether it takes 10, 50, 100, 500 or 1,000 hours of study may well vary from person to person and the kind of source materials they are studying.

Some folks have a lot of difficulties distinguishing between good information and bad information, and they might actually believe the sources of their bad information and believe that their bad information is good information, and so when they actually come across some accurate and informative information about bitcoin, they might skeptically conclude that the good information could not be true since it conflicts with what they believe to be credible sources.

I was listening to a program earlier today about how the greedy companies are gouging consumers by raising their food prices, and so it can sometimes be difficult to realize that money printer go bbbbbrrrrrrr is way more blame worthy than what normies want to give governments more power to control prices - which surely does not seem to be a good solution, and I am not even anti-government, yet we likely should realize that it becomes problematic to have too many controls in place, even though maybe it becomes difficult to get rid of the controls .. so bitcoin and bitcoiners are going to sometimes end up being targeted as part of the problem rather than part of the solution... which still gets us back to either having information available but also having abilities to sort through good information versus not so good information... and we are all not going to agree.. but at the same time do we have rights and/or abilities to disagree or are we told what we are supposed to think and are we accepting of being told what to think.. and do we realize when we are being told what to think versus engaging in our own abilities to critically think about what might really be in our own best interests.