You cannot invest or buy bitcoin daily. But weekly or monthly and a poor man cannot invest in bitcoin with one third of his discretionary income.
That's why its important before engaging on anything especially when dealing financial matters
people should try all they can to make their selves financially stable.
Surely You can say "
if they have a steady souce of income", instead of
"Being financially stable" because this statement has caused a lot of people not to start investing in bitcoin as they ought to have invested, simple because they misinterpreted the word Being financialy stable to mean rich. some may look like they need to be rich before investing while the actual sense is having a constant souce of income to front load your bitcoin and or your discretion fund to be able to invest comfortably and regular with what you can afford to lose either weekly or monthly.
Newbies don't even have to have a steady source of income to invest into bitcoin, yet they do need to have discretionary income, so if their income is less steady, then they likely need to keep more back up funds to cover periods in which their income might not be steady.
You are actually correct sir JJG, but we all know that for back up or discretion fund to keep on working constantly we need to be actively supplying it with fund from somewhere either place of work or any means of income. Surely discretionary income are like charge stored in the power bank, while a steady source of income are like electricity which can be used to charge the power bank and the Mobile device, so we can not only prioritise using the Power bank to change our Mobile phone without constantly changing the power bank. as a time will come when the power bank and the mobile device will be dead as a result of not have been charge neither
the power bank or mobile device. Thesame thing is applied to the investment aproach, what do you think?
Sure. I still stand by what I say, and surely there are people who have irregular incomes, and they still will save and invest, and probably they would be better if they could make their income more steady, so anyone who has an irregular income may well need to keep a lot more back up funds if he wants to invest, and there are levels of priorities in terms of if the back up funds are running out then there may need to either be cuts in expenses and/or increased efforts and/or pressures to get a source of income.
that you are investing should even prompt you to put in extra work in ensuring that your income flow is at least constant and a bit predictable, so you don't get to halt in your investment multiple times just because you don't have a defined and regular income source. even if you are not investing in bitcoin, being careless about your income source is very dangerous and for the fact that you want to buy bitcoin for the long term, setting things in order is the prerequisite of a successful investment.
back up funds is supposed to be a one-off thing where you build it and then allow it stay while concentrating on building your portfolio. in the course of building your portfolio, if you intend getting to your goal faster enough, you just have to take these little things seriously and ensure that if it will require that you intentionally get a job that pays you better or upscale or upgrade in what you do so your earnings becomes higher, you just have to do it knowing that in a brother perspective, while you are in the one trying to you are also growing in other aspect of your life. with an intentional plan, you might never have to touch your reserve funds but will just stick to your designated amount for your DCA investment.