Quote from: TravelMug on April 17, 2025, 11:17:02 PM

Quote from: SOKO-DEKE on April 17, 2025, 08:09:57 PM

[edited out]

I don't know though, I mean as average investor, the money that I invested could be my emergency fund as well.

It is a bad practice to keep something as volatile as bitcoin as your emergency fund or even part of your emergency fund, unless you have already reached overaccumulation status.

Volatility means that you could end up cashing out of bitcoin at a time that is not 100% of your own choosing, and if you have no other options, because you already exhausted any of your back up funds including your reserve funds and/or your emergency funds, then at that point you sell some or all of your bitcoin that is at a time that is not your own choosing. Does not seem like a good way of managing your cashflows and back up funds, to me.

Quote from: TravelMug on April 17, 2025, 11:17:02 PM

Of course we wanted to save as much as we can and hold for a long time.

Frequently, I suggest to first build your emergency fund up to three months at the same time that you are building up your bitcoin, and surely once the emergency funds reaches 3 months then it does not need to be more than that, even though you might have various kinds of reserve funds that you would prefer to tap into prior to needing to touch your emergency funds. I personally think that it is better to have your finances in a way that you never have to touch your emergency funds, so if you end up tapping into your emergency funds, you should realize that you are in a pretty bad financial situation at that time to be having to tap into your emergency funds.

I don't think that it is a good idea to save in dollars as much as you can, even though there are prudent amounts to save, but I do believe in saving into biticoin as much as you can, at least until you get to a point of overaccumulation, and it is quite likely that you will not get to overaccumulation status if you are engaging in weak cashflow management practices.

Quote from: TravelMug on April 17, 2025, 11:17:02 PM

But I guess we can reset anytime as well and go back and re-invest.

Even though you have a lot of flexibility and discretion with any of your income that is beyond your expenses, which is called your discretionary income, yet at the same time, for most people, cash is not unlimited.. so you likely do not have as much flexibility and options as you seem to be describing to be the case.... especially if you are already focused on trying to aggressively invest into bitcoin.

Quote from: TravelMug on April 17, 2025, 11:17:02 PM

It doesn't mean that you will sell everything maybe just withdraw a small percentage on your stash and then try to invest that kind of money.

It is a bad idea to be letting yourself fuck around with your bitcoin stash like that or even to be thinking that it is acceptable for you to authorize yourself in that direction.

Sure, in the end you can do what you like, but I would suggest that there are benefits in regards to trying to exercise self-discipline and to not be just proclaiming to yourself that you can do whatever you like..

but yeah, in the end, these are your choices to choose how strongly to build your cashflow management systems and your back up funds and to figure out how aggressively you want to invest into bitcoin based on your own sense of what might be your financial and/or psychological priorities.

Quote from: TravelMug on April 17, 2025, 11:17:02 PM

It happen to me before, during the height of pandemic as my sister got hospitalized not due to covid but because of other illness, but she eventually died Sad

. So I have to withdraw from my holdings and never think twice to do it to help here with hospital bills. And then I just restarted again. Just check how many weeks or years I need to do it and the go back with it with that goal to continue to accumulate again.

Sorry to hear about your sister, yet I still think that we still need to attempt to be careful in regards to how much we are tapping into our bitcoin investment or that we believe that we are not severely restricted by tapping into our bitcoin at various points in time that are not of our own choosing.

From your forum registration date you have more than two cycles of investing into bitcoin (slightly more than 8 years), and surely it can take a long time to build up a bitcoin portfolio, yet even with relatively low and/or consistent investing into bitcoin, you surely could have had built a decently sized bitcoin investment by now.

Quote from: Sonia_123 on April 17, 2025, 11:56:57 PM

Quote from: TravelMug on April 17, 2025, 11:17:02 PM

[edited out]

Sorry for the loss and that is why you need to prepare yourself before starting Bitcoin investment it's obvious that you were not fully prepared financially which made you encroach you emergency funds, if not you would have gone for your reserve fund or even your float funds if you already have it because if you were having all that, maybe you wouldn't have tempered your investment, or even if you have to, it would have been little out of it, which you don't need to start all over again, you would have just continued from where you stopped, having a reserve fund as backup is very important and necessary , it shows you are determined and willing, I

You do not need to prepare emergency funds prior to investing in bitcoin. As long as you have a discretionary income you can start investing into bitcoin and building your emergency funds at the same time.

Quote from: Sticky Bomb on Today at 01:13:41 AM

Quote from: TravelMug on April 17, 2025, 11:17:02 PM

[edited out]

No matter how aggressive you want to be in your accumulation journey, if you don't follow the right procedures by building your backup funds to protect your bitcoin portfolio, you may not be able to have a successful investment activity since you would be tampering your portfolio every now and then to solve problems that your emergency fund, variances of backup funds and floating cashes would've solved for you if you applied the correct investment practices. You can see that you fell immediately to your holdings as soon as a health emergency came up and had to liquidate your portfolio outrightly without any other option, this is what you get when you don't have backup funds in place. Although there may be scenarios that your backup funds weren't enough to bail you out of the emergency, in that case if there is no other option to get funds, your holdings might bail you out to some extent, then afterwards you can structure out ways to replace what you have depleted from your portfolio while building back your backup funds to handle other pressing matters that may arise in the future.

I get the sense that TravelMug is neither very serious about his bitcoin investment or potentially he does not really understand bitcoin very well if he continues to believe that it is a good idea to invest into bitcoin and then to fuck around with not having sufficient back up funds and/or other forms of strong cashflow management systems in place to protect him from tapping into his bitcoin at at time that is not completely of his own choosing, such as 4-10 years or more down the road..

He also might not understand the idea of investing 4-10 years or longer rather than just taking chances to play bitcoin waves from time time.. which is also known as trading and/or gambling rather than investing... so he might not even under stand that bitcoin is an investment not something to fuck around trading, the extent to which he even understands what an investment is.