Of course, sometimes it can be difficult with family members since we want to keep our relationship with them, yet at the same time, we also have to be concerned about how to spend our own time and energies, and most likely I would not have had told her that I would call her back, and I would not even get into any details of talking about any shitcoin, since it is a slippery slope into more conversation,  yet sure, maybe you could have had a couple of shitcoins that you considered to potentially have some abilities to go up, yet at the same time, it is way too messy to be getting involved with any shitcoins, but instead stick with a blanket recommendation for her to stay away from shitcoins, yet if she could not resist then at least she should limit her involvement in them to no more than 10%, and yeah, she is not even close to being within the same kind of thinking as you, so you likely just have to let her venture off into her own seemingly quasi-desperate kind of gambling thinking.

It is like you are not even close to being on the same page, and you could even talk with the person about investing 4-10 years or longer, and if you already know your sister to not be an old person and/or she is not with any kind of known health conditions, then you likely need to telling her that she should be thinking about bitcoin in terms of 10 years or longer and not between 4-10 years, even though sure sometimes the folks are just so maniacally focused on short returns (of perhaps a few months or maybe a year at most), so they cannot even relate to what you are saying.   

Accordingly, my practice has been to just stick to my guns and say that I cannot really help with shitcoin practices, trading, gambling and/or short term recommendations. In the end, she can do what she likes, but you are mostly suggesting at minimum a 4-year timeline, and perhaps better 10 years or more.. and also you are recommending ongoing, persistent, consistent, regular and perhaps even regular buying of bitcoin that may well last more than a whole cycle before she might be able to let off on the buying of bitcoin - depending on where she is at and/or if she is able to front load invest into bitcoin.  We know that many folks are not really able to front load into bitcoin, even though they might have some modest abilities to front load perhaps 3-6 months worth in advance.. but yeah, if her budget is something like $100 to $200 per week, then 6 months might be having cash in the ballpark of $3k to $5k to front load inject into bitcoin. whether DCA, lump sum and/or buying on dips..

Surely some guys might have more patience to spend with their family members or friends, but frequently it is a pretty BIG ASS waste of time to be talking with someone who has almost totally a different way of considering the matter, so they either have to figure it out on their own or perhaps find someone with a similar kind of framework... and sure, maybe they will get lucky, but the odds are not really in their favor... but you never know.. .. and that is on them including that if you might not even be able to get her to put 50% into bitcoin.. and she is not able to come even close, and perhaps she will end up with absolutely nothing in bitcoin, as Moreno233 described to be a tendency that he is seeing with the shitcoiners...and sure I have seen that too.. complete rejection of bitcoin and fantasies about the pumpamental potentials of various other coins/projects.  These folks likely just have to figure out on their own.. and see what happens (aka fuck around and find out).  Your sister is too smart for you DubemIfedigbo001 (or so she believes).


There is no reason to set up an emergency fund prior to getting started investing in bitcoin, and the only reason to delay investing into bitcoin would be if a newbie's finances are so messed up such newbie cannot clearly figure out whether they have any discretionary income.

If such newbie has some ideas about their discretionary income but they just cannot figure out exactly how much discretionary income they have, then they can still start to invest into bitcoin from the part of the discretionary income that they know that they have and they are not going to need for 4-10 years or longer  - whether that is $10 or some other amount to get started.   

Sure it is possible that some newbies who get into bitcoin are not going to be able to commit to investing into bitcoin for at least 4 years, and sure, we have to meet them where they are at, and even if we are recommending that they are investing into bitcoin rather than trading it.. we cannot necessarily commit them to a timeline of 4-10 years or longer, so in that sense, they can figure out their own timeline and make their own decisions about whether they are investing into bitcoin or they are trading it and how they are doing it.. even contrary to our recommendation.. .. They are ultimately responsible for their own actions even if they might have had been seeking recommendations from us... . We just might not consider a less than 4 year timeline as trading rather than investing, and we don't recommend trading.... but ultimately the choice of whether to buy bitcoin and how to go about it is theirs.

I recall one point selling something like 0.3 BTC to a person (who was recommended to me by a friend), and the BTC price was around $15k in 2017, and then about 6-8 months later he came back to me and he wanted me to buy his 0.3 BTC back and the BTC price was ONLY around $6k, and I tried to tell him that he should just hold onto it for a whole cycle, and  he said that he could not hold any longer, and that he needed the money.  I said o.k, and I bought back his 0.3-ish bitcoin...so surely people can do some strange things...and sure the BTC price largely ended up staying down through most of 2018 and it even crashed further down to $3.2k-ish in late 2018, and we had a price bump from $4k  to $13.8 k in early to mid-2019, but the price did not really recover above $15k until around late 2020... so yeah, it can sometimes take a while for the BTC price to go above our buy price, and yeah, we know in 2022, the BTC price ended up revisiting $15k again.. so a lot of those kinds of considerable BTC price moves can be scary for folks who do not have conviction about BTC.


There is nothing wrong with that interpretation, except that sometimes we need to be able to distinguish between different kinds of practices in order that we can clearly communicate what we are talking about, yet surely a guy can structure his finances (cashflow) in such a way that he invests as much as he can into bitcoin every single time that he receives pay.  He calculates out the amount that he has to set aside for his expenses, and then he attempts to maximize his BTC buys with whatever he has available, and sure sometimes the amounts might be regular and weekly or every couple of weeks, but every once in a while he might receive amounts that are way larger than his regular amount, so perhaps every week he is getting around $10 extra that he can spend on BTC, but every 3-4 months he has some side project that he receives somewhere between $150 and $300 - depending on details of how the project ended up going, so at that time, when he gets those larger payment amounts, he suddenly has 15x to 30x his usual weekly DCA amounts, so he knows that he could still choose to treat the amount as a DCA amount and buy right away, even though he also knows that when he gets those larger amounts, he has more options during the times that he ends up receiving those larger than usual amounts.


From time to time, there are still going to be some strange situations that end up happening in terms of guys sometimes forgetting about their BTC or even forgetting how to access it.. and then maybe remembering at some later point...... .so even a person might buy a few hundred dollars worth of bitcoin, and then maybe the price goes up 8x or more, so the guy goes to try to figure out how to access his  BTC, but he cannot figure it out, and then maybe the price drops back down, so then he thinks that he will just get back to the problem of trying to access his coins later, and maybe he keeps procrastinating because he is not even sure he can figure it out, and maybe the BTC price goes up again, and then it is 20x or more higher than his earlier price, so then he becomes even more inspired to try to figure out how to access his coins.. and yeah, maybe it sounds weird.. but there can sometimes be weird kinds of situations that may also relate to a person who has a variety of other things going on in their lives and maybe even  some explanation why they are not putting more effort into monitoring and/or managing their BTC in a more reasonable (or normal) way.


Even though a side job can provide more discretionary income and even more comfort in regards to having back up sources of funds, a side job does not negate the need to build up an emergency fund.

So emergency funds tend to specifically relate to loss of income or some outrageously large and unexpected expenses.  Most people should have other kinds of back up funds that they would use for other purposes that would be used prior to the emergency funds ever being touched.. so in an ideal world a person goes 20-30 years or more without ever having to touch their emergency funds.  Of course, the longer that we invest, the more likely that we are going to build up a variety of assets besides just bitcoin, and some  of the assets could serve as emergency funds to the extent that they are liquid and potentially similar to cash - yet also once we get through 2-3 or more bitcoin cycles, we might end up getting our BTC investment up to a certain size that changes the way that we think about the balancing of our various kinds of funds and investments.. and also figuring out how much cash we might have on hand, including considering if we might also start to figure out ways to cash out of our BTC in sustainable ways, especially if we might have had ended up reaching a status of overaccumulation of BTC.