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I really don't like that term, money you can afford to lose, I will prefer we use the term discretionary income, when we use the term money we can afford to lose when it comes to bitcoin investment it sounds like gambling, and using that term may create some mindset that Bitcoin is like gambling to a newbie who wants to go into Bitcoin investment.
For a long term Bitcoin investor his using his discretionary income and not money he can afford to lose.
Your not liking the expression (don't invest more than you can afford to lose) likely shows your lack of understanding what that expression means..and no, if you were to understand what it is actually communicating, it does not mean or sound like investing in bitcoin is like gambling or investing into shitcoins, even if you understand the expression to seem like that is how you are thinking about your bitcoin investment.. but hey whatever, you can interpret expressions however you like, even though you seem to be lacking in your own appreciation of the underlying idea or how discretionary income does not communicate the same message as "money you can afford to lose"...even if the ideas relate to one another they are saying slightly different and perhaps even overly subtle things that you are not quite seeming to grasp the idea...
From my own perspective, "money that you can afford to lose" seems to be a sub-category of discretionary income and other members have also described it in a similar way in regards to money that we lock up for 4-10 years or longer and we don't even necessarily expect to get it back (even though we are not wanting to throw the money away, at the same time, we understand that we are locking the money away for a long time, and we may or may not ever get it back for a variety of reasons, even our own death that would mean that we never spend the money that we could have had spent today, we defer gratification for later and we are not guaranteed to achieve such later deferred gratification), so money that you can afford to you seems to be very well describing an even more narrow category of money as compared to the more broad descriptive category of discretionary income. .that is merely any extra money that a person may have after accounting for all expenses (whether calculated and/or estimated on a monthly basis, weekly basis, daily basis or otherwise).
Bitcoin is an investment and nobody that is investing on Bitcoin is expecting to lose his or her money, some people are even using Bitcoin investment as there retirement investment plan so you can't classify money used for Bitcoin investment as money I can afford to lose, people use huge amount of money to accumulate Bitcoin using lump sum strategy and even if you are using DCA strategy and maybe you are using $50 to accumulate weekly if you sum it up for 10 to 20 years is a huge amount of money also, so are you saying this money are money you can avoid to lose I doubt.
SuperBitman, I don't know why you are finding it so hard to accept the concept that we should use the money we can afford to lose when investing in bitcoin, even when some members had put in an effort to make you understand the concept, but you choose to still bring up this matter. Do not be confused: anyone who is investing in bitcoin as a retirement plan is not investing all of his or her money into bitcoin; he or she is investing with his or her discretionary income, which is the money he or she can afford to lose after taking care of his or her daily expenses. Using a huge amount of money to buy bitcoin with the lump sum or using a huge amount of money to accumulate bitcoin gradually with the DCA strategy doesn't mean that investors are not using the money they can afford to lose to invest in bitcoin. We have different investors who have different kinds of sources of income and good discretionary income, which can even allow them to invest up to $1m in bitcoin at once or gradually, and they can still comfortably sort out their daily expenses anytime they arise. For instance, you and JayJuanGee will never invest the same amount of money into bitcoin because JayJuanGee has a good source of income and a good discretionary income than you, but still yet JayJuanGee will still invest in bitcoin with the money he can afford to lose. If you don't want to invest in bitcoin with the money you can't afford to lose, that means you are being carried away by bitcoin investment, and you are likely to get off the game quickly because you will possibly use the money that is meant for your basic needs and invest in bitcoin.
Yes I understand the point you are trying to make However having a discretionary income and using it for Bitcoin investment those not mean you don't have other use for it, our Discretionary income can be used for other things or investment but we choose to invest it on Bitcoin not because we want to try luck but because we want to benefit from Bitcoin in years to come and that's why we buy and keep holding.
Surely you can use your discretionary income for any type of investment you want to venture into, and nobody will stop you from doing that because it is your discretionary income. You can even choose to give out your discretionary income to members of your family since it would not stop you from sorting out your daily expenses. Since you are investing you discretionary income into bitcoin, don't see it as money you can't afford to lose because it is your leftover money, and you can even decide to go on vacation with it if it is good enough to handle a vacation trip.
Money we can afford lose and Discretionary income is related but serve different purpose,
Money we can afford to lose: is Money you can risk, invest or spend without it damaging your financial stability or status.
And Discretionary income is the portion of your income
that is left over after settling essential expenses such as taxes, housing, food, mortgage, water, electricity bill, etc.
And if not used wisely can after your financial stability and status.
The money we can afford to lose and discretionary income are the same thing. Discretionary income is the leftover money after we have paid for our weekly or monthly expenses. We can even decide to place a bet (gamble) with our discretionary income since it is not allocated to solve any of our weekly or monthly expenses.
Now losing discretionary income could potentially affect your savings or financial goals because it is this Discretionary income we use to build our backup funds such as emergency, float and reserved funds, but losing money designated as money we can affordable to lose will not affect your financial savings or financial goals.
You are just confusing yourself. JayJuanGee didn't tell you that since you are investing in bitcoin with the money you can afford to lose or with your discretionary income, you shouldn't build up your emergency funds, reserve funds, and float with it. From time to time you can remove a percentage from your discretionary income and use it to build up your emergency funds, reserve funds, and floats gradually.