Quote from: Stablexcoin on April 23, 2024, 12:10:04 PM

First thing i did was to download budgeting apps that helps me plan a financial foundation for log term. During the investment process i acknowledge unexpected expenses that i have no choice than to dip into my emergency funds but i immediately rebuild it as soon as possible so that my investment wont be next. Although i allocate a particular 20% of my income into the emergency fund and also include money that was giving to me like a bonus or friends and family.

This is a weird way of talking about an emergency fund, and sure you may well be including the idea of emergency fund with the idea of reserve funds and cash floats, yet one of the things about an emergency fund, it is generally not a part of something that you take from your income as a percentage, because once you have established it, you don't need to keep adding to it... .. so yeah, whatever you are doing might be working for you, but it might not be workable if a true emergency were to come, then usually you would need 3-6 months of income/expenses within such a fund in order to be able to get through the emergency situation (such as loss of cashflow and/or some high expenses that had not been anticipated).

I surely don't have any problem with the idea of replenishing your emergency fund, even though emergency funds should almost never be used absent a true emergency, so usually you would be using your float and/or your reserves prior to even needing to dip into your emergency fund.

By the way, the management and maintenance of emergency funds, reserves, and floats tend to be way more important for poor people even though it likely is difficult for poor people to establish such funds and such good personal financial management practices. Rich people may well have a variety of investments and they can actually use one of them for their emergency funds, and also if someone is at or near fuck you status, then they can actually use their investments as emergency funds, since maybe they are already able to draw from their investment at a monthly rate, so they are able to draw an extra 3-6 months from their investment without much of any problem, presuming entry-level fuck you status could be anywhere between 12-25 years of income already in your investment (and with BTC I am valuing the BTC holdings at the 200-WMA rather than at BTC spot price).

Quote from: michellee on April 23, 2024, 12:16:12 PM

Quote from: Obim34 on April 23, 2024, 09:50:19 AM

Wether they take quick profits or not Bitcoin still remains, it's all by choice and how we view from our perspective, each investor knows what's suitable and good for him because the needed funds used to invest was raised by him, despite all these happening, we only just advise investors to purchase/ keep on purchasing Bitcoin, restrain from selling and continue to hold for the long run in order to maximize the profits and store this wealth for a longer time.

Emergency funds are compulsory units in the process of accumulating Bitcoin that should not be neglected, life is full of unforseen circumstances that may come either at the appropriate time when funds is surplus or not, during this point in time a persons emergency funds will step in to resolve that issue instead of altering one's investment portfolio just to solve the need.

But unfortunately, not many Bitcoin investors can determine when they will take their profits. Many of them cannot wait patiently for the price of Bitcoin to increase very high. Most of them are still consumed by the issues raised by unclear news.

If you been in bitcoin since your forum registration date of August 2016, then surely it is possible that you have accumulated enough BTC, yet to me, you sound like you are looking at bitcoin like a trader, and you are ultimately likely to be ending up selling too many BTC too soon, because you do not recognize and appreciate that long term investing and building wealth takes time, and when you get there, you are likely able to recognize an ability to start to make withdrawals... but yeah, if you are fucking around and trying to figure out when to sell in order to buy back cheaper, then you are playing a different game, and you are likely going to have fun staying poor because you are selling too many BTC too soon instead of having a plan that ultimately results in being able to either engage in sustainable withdrawal practices or raking practices. Raking practices can usually be started quite a bit before sustainable withdrawal practices, but guys can come to differing conclusions in regards to employing such practices.

Quote from: michellee on April 23, 2024, 12:16:12 PM

They will panic and make decisions without thinking twice. They cannot find more information about the situation that is happening so that they make instant decisions. For those who can still be patient, they can see when they can sell their Bitcoin and take the profit.

Sure.. so what.. there are people who overinvest, and they don't know how to treat bitcoin like a long term investment rather than worrying about playing the price waves. Those are temptations that each of us have to overcome in terms of putting practices into place in which we make sure that we have long term accumulation plans that don't necessarily involve selling until after we might have already created a decently sized BTC stash.

Quote from: michellee on April 23, 2024, 12:16:12 PM

For emergency funds, it is best to separate it from investing in Bitcoin so that it does not interfere with our investment plans. But there are also investors who use some of their Bitcoin to meet their emergency needs because their emergency funds cannot cover them. This is understandable because we often experience emergency needs that we must fulfill immediately.

It is not understandable to use part of your BTC as your emergency fund, unless you have already reached near or close to your fuck you status... but yeah, people use a lot of things for their emergency fund when they have not established a good practice in regards to their emergency fund, their reserves and their float... which should be part of any sound investment in which you want to choose which assets to sell instead of being forced into selling your BTC at a time that is not completely of your own choosing.

Quote from: usekevin on April 23, 2024, 11:42:27 PM

Quote from: teamsherry on April 23, 2024, 10:57:50 PM

Then I think we should separate those mindset from each other, anyone that is thinking in terms of wanting to buy low and sell high is a trader and doesn't value bitcoin or understand bitcoin or even investment, there should be a process to everything and not just any news that pops up and you are in a state of panic to see of your holdings or even worse watching to know when to sell, and mind you no one is saying that selling is a bad thing but the issue is that selling too early is not the best approach to bitcoin cause you are inevitably missing out on the best part which is to own Bitcoin.

The other mindset here is those that are thinking in terms of accumulating bitcoin and not been bothered about the price of bitcoin, if you are still so early in bitcoin you should be less bothered about the price or news surrounding bitcoin and focus more on buying bitcoin, cause at the end of the day its only those that have enough bitcoin that can really make profits from selling bitcoin.

The trader who want to make profit should try to buy the bitcoin at the low price in the market.Because the market will not the stable one,based on the demand the price of the bitcoin will increase and decrease.The dump in the price will help the trader to make huge profit in the trading by buying at the low prices compared to the price at the bull run or pump in the price of the bitcoin.The trader should understand the process need of time,the panic buying or selling will not help the traders to make the big profits.Their was huge difference between making the profit or making the huge profit from the same trading.

The trader should allow the market to react for his trading,because trading at the hurry or panic will leads to a loss in the trading.The early investor of the bitcoin are making the money in the bitcoin now.Because the price of the bitcoin had crossed the 70k mark in the recent days,but many of us know we wait huge time for the price of bitcoin to reach the 10k dollars.The trader should analysis of market for atleast one month before investing the money in the bitcoin.

We are not talking about trading in this thread. Don't let the "buy the dip" throw you off.