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Quote from: Troytech on April 09, 2024, 09:53:41 AM

It doesn't necessarily need to be a steady income, I could be a money that comes once in 3 months, 6 months or such intervals and you decide to divide that amount into parts and invest them on intervals instead of buying with all the amount at once, so yeah the idea of having a steady income leads to the fact that for DCA and accumulating bitcoin to give you the best results you have to be kind of steady and consistent in doing so, so some folks that haven't got a steady income can at times pause or stop due to their money getting exhausted and at times even us up their reserves if they have quite the appetite for buying bitcoin, and your emergency funds also has nothing in to do with steady income, its just like that savings we never touch and we build just to insure that we never sell our holdings based on misfortunes or emergencies and this should be up to 3 months of your expenses to be potent enough.

I might not be a regular poster here but with the little I have read in this thread it needs a steady income to be able to withstand the accumulation process. The 3 to 6 months you are talking about, looks like the lump sum method which may not work for every bitcoin investor. Gradually investing what you can afford is better than waiting to invest big. Sometimes the little investment you see as nothing will shuck you when you see the results after so many years of regular investment. And not every body is opptunesd to see money in bulk. We should be able to manage the little we have than expecting so much before investing. You should have been in beter position to know by now because you are one of a regular poster here as I have read you posts here.

That is not entirely correct, you don't need steady income to starting investing in bitcoin. A contractor whose income does not flow regularly can still invest in bitcoin when he is able to execute a contract and make good funds. All he just need to do is to set aside part of any bulk payment he receives for investment in bitcoin while he use the remaining for his personal needs pending when he receives another payment from executing more jobs. Let's take for example, a contractor receives $50,000 as profit for a job he has done, he can decided to set aside as little as 10% which is $5,000 to be invested using weekly or monthly DCA. This way he could spread the investment in such a way that before he exhaust the funds completely, he would have received another cash inflow.

Many people make the mistake of not investing in bitcoin because they want to have huge amount of money before they get started. Even people who could afford to invest $20 weekly without blinking an eye, just because they want it big they refused to invest. There was a time I was thinking that bitcoin investment is for the rich, many people are even still nurturing such wrong notion. It took me a while before realising that any income class can actually invest in bitcoin. Learning about the DCA method also helped a lot in making me see what I can achieve with little amount invested regularly in bitcoin.

The thing about this whole investment in bitcoin is that the investor need to understand the context of consistency and what it can do because its exactly what pushes some great men out of the same league with people that are even having more than they have. When you are consistent with your holdings, you would be surprised the length you will go at the end of staying consistent with whatever you are doing.

And that's where DCA will enter the picture, and it is what the experience trader here in our community will advise. And it's obvious, you don't need huge capital to begin with, and regardless of what is the price of Bitcoin, you can slowly accumulate and without you knowing, maybe in weeks or months you could have save a lot in your wallet.

It's really effective though, used this method myself and I was really surprise how easy this strategy is as I have total control of how much money I will invest, meaning the old adage of "invest what you can afford" mantra. It will be mentally tough grinding weeks after weeks, but if you have a goal then you can get over that psychology and you will be amazed that you have invested x amount in x weeks already and your wallet is growing.