Quote from: Ricardo11 on Today at 01:42:16 PM

Quote from: Justbillywitt on Today at 01:16:47 PM

That you sold your bitcoin because of an emergency doesn't make it the right thing to do. You sold your bitcoin for emergency because you neglected some of the things you needed to put in place after you started your bitcoin investment. Had you had an emergency funds in place there wouldn't have been any needs for you to sell of your bitcoin. You can say here that you don't have any regrets for doing that here, but deep down you actually regretted doing it. The right approach for a successful bitcoin holding for a long term, is to start building up your emergency funds and reserved funds along side your bitcoin accumulation. If you have your emergency funds in place, you can always take money from there and fix your emergencies without having to sell your bitcoin way too early or in a premature stage.

I agree with you, many investors initially focus only on investing. But they forget to keep the necessary funds ready to hold that investment for a long time. And as a result when they face any danger, due to lack of emergency funds, they are Compulsorily to sell their investments. And selling holdings at that time may also cause them losses. Hence, an emergency fund should be created safely along with investments, which will help ensure our financial security as well as long-term holdings.

That is why I'm always happy joining this forum I learn new things that will help my Bitcoin investment almost every day, before I joined this forum I didn't have that mind set of having an emergency, reserves and float funds it was when I joined this forum I saw the need of having this funds in place and it has saved me from dipping hands into my Bitcoin.
Anyone in this forum and is seeing how people are talking about having a backup funds and refuse to do so is on a risk of losing his Bitcoin because facing challenge in life or facing emergency is inevitable at a particular point in life you must face it so you need to plan ahead of it so it won't make you lose your investment.

Some people say when they encounter challenge or emergency they will borrow money and settle it then later pay back yeah that may work for some set of people and that is those that have a good source of income.
However if you are working and you feel if you face emergency issue you will always borrow and pay back what if the emergency issue is you being sacked from that work so how can you borrow and pay back so that is why is always very important to have a strong emergency, reserve and float funds.