Not just money they can't afford to lose is also money they can't hold for long , so anyone that go into Bitcoin with money they can hold for long is only in for short-term profits, which may be risky . Because they may not be able to hold for long so the chances of them selling in loss is Higher
But due to the fact that the world is going digital each day, it has create opportunity for young students to be able to learn some skills online , which have help alot of students to start earning in their comfort zone without it affecting their studies. So such individual can actually start investing in Bitcoin with some portion of the money usually get from that skill, and he or she may choose to focus his own personal earning in Bitcoin investment while his parents take care of his emergency funds.In that way he or she will be able to build a better investment for he or her self in a long run .
Than wasting money in some irrelevant things because now and days most young students can differentiate want from need , so they may start leaving a luxurious life style.
I couldn't grab the actual message you were trying to pass from the first paragraph, but I agree with the other part of your writeup.
Let me just add to what have been said from other two paragraphs. When you say students, we are not just referring to every random individual that carries a school bag to class, take lectures and do assignments. We are referring to individuals that are financially open minded, and understand the need to prepare for the future. In this current generation, education is not longer a go to school and get a job approach. Sorry to say this, but the truth is that, the majority of those in schools don't even know that the future demands alot, and early preparation is the key. Take El Salvador for example, where Bitcoin is a legal tender. I sometimes watch online videos of some of their students, as they are been taught how to perform basic Bitcoin transaction and other things that are related. Such basics is already/automatically a open door to encourage them to invest in Bitcoin.
A student who is not financially open minded won't see a need in investing in Bitcoin even when such information comes his/her way. Bitcoin investment isn't a social media trend or something to play with. It's a financial decision, that anyone can decide to opt for.
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I don't really like the idea of parents serving as an emergency fund, even though surely there is some truth in that, yet when we start to invest into something like bitcoin, each of us likely need to get into some good practices, including the creation of our own emergency fund, even if we might be able to get away with building and/or maintaining a smaller amount because we have our parents as additional emergency funds... the same is true for other kinds of better practices in regards to using reserve funds prior to even touching emergency funds, so it may well become way and way more likely that any of us might be investing for many years and never even come close to touching our emergency funds because we use our other categories of back up funds prior to ever getting into a state of emergency (or having to use any of our emergency funds).
I think I understood the point from which I_Anime is coming from by insisting that parents should serve as emergency funds. In this scenario, most students are 100% under the care of their parents, so whatever funds that comes from them will be used to address basic things, and serve for emergency purpose. But this form of care shouldn't make any student too comfortable, but rather, serve as extra motivation to accumulate a better portfolio without making excuses. But it might not be applicable for those that don't receive 100% support from parents.