I personally think that inconsistencies in income and expenses could be reasons for holding back value rather than investing right away, so surely poor people have disadvantages over rich people in terms of even making sure that they have enough income to be able to invest into bitcoin, since sometimes there is not enough income to work with in terms of making sure that they are able to build an emergency fund, yet the poor person likely needs to the emergency fund more than the rich person, yet if your point was that the poor person is not able to hold any money back for an emergency fund, then the poor person is going to end up getting fucked when he has any little emergency and he has to tap into his investment prior to his intention. so emergency funds are just as important (if not more important) for poor people as compared with rich people... but yeah, it is likely that a lot of poor people stay poor because they end up using their investment as their emergency funds rather than making sure that they have enough flexibility in their cashflow to make sure that they never have to sell their BTC at a time that is not of their own choosing.. which becomes way more dangerous with any investment that is volatile, like bitcoin.
You’re absolutely correct!
It becomes tough for a person to keep accumulating BTC and building their portfolio when they experience inconsistencies in their income and expenses, and it becomes even more tougher for those living paycheck to paycheck.
During investing, poor people face more inconsistencies than the rich so I believe they’re the ones who needs the emergency funds as well as other backup funds more than every other person, and yet they’re often the ones who find it the hardest to build up one. And when unforeseen circumstances arise in the future, they’re forced to dip their hands into their investments, which could definitely result to selling at a loss or at a very wrong time under the wrong circumstances and missing out on potential gains.
This is more of a vicious cycle that potentially just keeps people stuck in poverty and inability to build a solid portfolio, they might end up investing the very little amount they have and end up using it for future emergencies rather than allowing their investments to grow and solidify overtime.
And for volatile assets such as Bitcoin, selling off your assets at such a very wrong time may potentially be very costly.
And I totally agree with you on the importance and essence of having an emergency fund, as well as other flexible cash flows when investing because these are the things that weathers future emergencies that may potentially arise to eat up your investment and also enables you to continue investing and building your portfolio.