Quote from: Tonimez on Today at 07:08:47 AM

Quote from: JayJuanGee on Today at 06:56:57 AM

Quote from: Pi-network314159 on Today at 05:33:57 AM

Quote from: JayJuanGee on Today at 02:52:29 AM

The main first point anyone needs to have when getting started in bitcoin is to assess that they have discretionary income,

The main priority for bitcoin investment is discretion income, when you think of bitcoin investment think of discretion income. as it is the backup force that keep investment moving. Just like the petrol that fuels a vehicle.

Quote from: JayJuanGee on Today at 02:52:29 AM

so if they assess that they have discretionary income, then they can get started.

Sometimes people overly get worked up by thinking how investment can be possible considering the amount they received in their place of work without considering that they can First build up there discretion fund for 2week or a month before starting investing from there discretion, So that even if their pay rate is low, they might not be worried, because they have front load their discretion and it will reduce the level of thinking about their low comes generation. This statement is for those low salary earners who thinks on how their salary cans be sustainable including their discretion.

You seem to be misusing the term discretionary income and describing it in a bit of confusing ways, since the first thing is to likely assess whether you have it rather than to build it up.

Discretionary income is simply the amount of money that a person has after accounting for expenses, or put another way, the difference between income and expenses. Of course anyone can increase their discretionary income by increasing income and/or by cutting expenses.

If a guy is wanting to increase his cash cushion prior to investing into bitcoin, then surely he could do that, and with that I am referring to increasing the various kinds of back up funds that are related to emergency funds, reserve funds and float, yet there would be any need to increase any of those prior to starting to invest into bitcoin, unless a person might not be certain of how much discretionary income that he has, so that if his expenses and his income or not very certain, then there maybe some desires to keep extra amounts of cash on hand in order to be sure that there is enough to cover all expenses that come in for the month (or until the next time income comes in), so surely folks who have less certain income and even uncertain expenses, then he might have to keep more cash on hand to make sure that he has enough extra income that he is able to pay for expenses prior to investing into bitcoin, and that would just have to do with uncertainties in establishing his level of discretionary income in order to know that he is able to invest and that he has actual extra (or left over income) that is available once all of the monthly expenses are covered.

I would speculate that an overwhelming majority of people try to keep at least 2-6 weeks of extra money in case they have trouble with their income and/or their expenses so that they don't necessarily suffer from any unnecessary emergencies due to lack of preparation. At the same time, we know that bitcoin requires a 4-10 year or more commitment in order to be investing into it rather than trading (or gambling) with it, so there are some needs for achieving extra levels of certainties in regards to bitcoin holdings especially as the quantity of the bitcoin investment starts to build and gain value, so there are more and more needs to have extra back up funds when the bitcoin stash is higher so that there is never any need to cash out of bitcoin at a time that is other than our completely own choosing, which also means that we should not be using bitcoin as our emergency funds, especially if we are trying to be serious as an investor rather than a trader(gambler) with our bitcoin.

Quote from: Pi-network314159 on Today at 05:33:57 AM

Quote from: JayJuanGee on Today at 02:52:29 AM

It is like someone calling you out and asking you if you can go out to a nice restaurant to eat. Usually, you spend between $3 to $15 for the ingredients and preparation costs of your regular meals, yet you know that if you go to the nice restaurant that is being suggested, it is going to cost you at least $50, and it might cost you even a bit more. So you have a question in your head about whether you have the $50 or not. If you do, then you have discretionary income that you could also choose to spend in bitcoin rather than going to that nice restaurant.

Yeah this could be another explanation of discretion. Being able to afford a meal of $50 or not is determined by your level of discretion. If a person often spend some bucks on food like 5-$10 and decide to have a nice and more decent meal for an outing depends on his discretion. He may chose to buy a meal of $50 or decide to invest it on bitcoin and go back home to eat his regular meal just being financially wise is the case. But If also he has a more decent amount in his discretion then he may well spend the $50 and yet not being affected by his regular investments. So the main point is that weather you chose to increase or decrease in our spending all
Depends in your discretion.

Part of the reason that we label discretionary income as discretionary is because it describes such income as extra. We can do whatever we want with that income. We can choose to consume with it or invest with it or we can choose to gamble with it or to buy cigarettes with it. Most people are not going to invest with 100% of their discretionary income, frequently they are going to have different things that they like to (or want to do) with their discretionary income. Surely if we choose to live a real frugal lifestyle, then we will have more discretionary income, yet many folks want to have some luxuries in life from time to time, including maybe instead of wearing used clothes and hand-me-downs and searching for free or low cost items, sometimes folks will buy some clothes that are nicer or are higher priced or that they have a brand name rather than a non-brand name because they want the status of the piece of clothing. Sometimes it might even be a business decision to buy more expensive things in order to set an image that might attract higher quality customers, and surely those tactics are not always necessary, yet sometimes there might be some necessity to buy more expensive things just to attract certain kinds of customers or maybe trying to attract a life-partner, there might be needs to spend more in order to have higher levels of success to both attract and maintain the interest of a life partner that is of your choosing... or who you might not yet know.

This is an undisputable fact. People work to spend and they spend to maintain life and human complexes. Every income has a need to be met and that's why the joy of having increases by having.

Humans are wired to meet their tastes in other to be confident to face the society. Low income earners barely have discretionary incomes as most of them still live on loans. Investment in bitcoin is not a death sentence and must always be done at the ease of the investor.

As an investor who intends to venture into bitcoin accumulation, but with low income salary, you can set a target on how to establish a different source of income. From there you can buy bitcoin and store up. Someone with a second source of income can buy bitcoin continuously and thinks less about selling.

To me, bitcoin is not a source of income, it is a preparation for the future.

You are actually right but I think for low income earners instead of waiting to establish a different source of income I think it's better you get started and make provision of your discretionary income from your salary level and accumulate with the little you can also using the DCA method to accumulate then along the line you can be finding a way to increase your discretionary income and also try fixing your emergency fund and reserve along the line and also make sure you did not invest in a way that it will affect your daily or personal living because waiting to establish a different source of income may lead to delay or later run procastination before you know you can't be able to accumulate Bitcoin again, with the DCA strategy you can start up accumulating gradually to increase your Bitcoin stack either weekly or monthly and continue to hodl Bitcoin for a long time which could be 4-10 or more also.