Having a source of income is not even negotiable. And not just a regular source of income, having a good one also gives you a better chance of accumulating more fractions, setting aside your emergency funds(if you probably haven't done that from day one), and also setting aside your basic needs as well.
You do not need to have a steady job in order to invest into bitcoin.
You do need discretionary income, though...so hopefully anyone is investing into bitcoin from their discretionary income and/or their savings.. not from money that they need for expenses... and hopefully their investment timeline is 4-10 years or longer, since bitcoin is better as an investment rather than as an attempt to trade it.
Yeah, I get the fact,
Discretionary income happens to be the main concept, but I was wondering, where does the discretionary income comes from?, i guess it comes from the main income.
In your original post, you were still describing more than necessary in order for someone to get started investing into bitcoin, so I am not sure why you are trying to suggest that a person needs more than what they need in order to get started investing into bitcoin.
Of course, the more solid a person's income then the more s/he can continue to invest into bitcoin, and the less solid the income then maybe s/he will only be able to buy bitcoin whenever s/he has discretionary income available.
Don't you think that if an investor can increase his or her income, it might also affect the discretionary income positively(at least to some extent), which also helps in getting more fractions?.
Of course, the better the income then the more bitcoin that you can buy every pay period, yet we can also buy bitcoin in small amounts, so everyone can be advantaged by buying bitcoin, even if they have erratic income and/or erratic expense situations.
And a quick question, I feel I have being quite obsessed with accumulating in fractions consistently, rather than the DCA. Trying to accumulate in fraction has been quite fun though, since I sometimes have to spend more than usual, or spend less than usual due to price difference. Do you think that this approach is quite aggressive?.
Personally, I attempt to define level of aggressiveness based on how much of a person's discretionary income is being spent on bitcoin, and so each of us has to figure out how aggressive that we want to be or that we are able to be, and a person who is customizing his weekly bitcoin buys in order to attempt to buy more BTC is going to end up having an ability to be more aggressive than a person who sets their bitcoin DCA automatically at the same amount every week.
Each of us has to figure out how aggressive to be without overdoing it, and surely, as we frequently discuss, it could take a guy several years to merely build up both his bitcoin investment and his emergency funds to both equal 3 months of his expenses (or his income), and going by your forum registration date (just past your first year on the forum and presumptively accumulating bitcoin during that time), if you have already built up your emergency fund and you got your bitcoin investment up to 3 months of your expenses, then you may well be doing quite well in terms of your progress in regards to building your bitcoin holdings and also your ability to be more aggressive in your bitcoin investment if you have your emergency funds built up to at least 3 months... yet surely many of us also want to have back up funds that go beyond merely having 3 months of emergency funds.
Just holding is not any kind of a meaningful solution if someone does not have enough bitcoin. It is nearly as bad to suggest that guys hold bitcoin rather than suggesting that they keep buying.
JJG I really thank you alot for this point of yours above, because you have really made a hit point here which I believe that alot of people here will learn from it, because many people here have failed to understand that holding is not a meaningful solution if you don't have enough bitcoin to hold for long term, because if you don't have enough bitcoin in your wallet your holding may likely be a waste of time, so for that reason what should be our focus now is to keep accumulating bitcoin consistently and aggressive as we can using the DCA method to enable us accumulate a good portion of bitcoin to hold for long term 5 to 10 years or more.
Some guys are going to still be buying bitcoin regularly for 10 years or more, especially if they ONLY have low levels of discretionary income that they are able to use for their ongoing, persistent, consistent and regular bitcoin buying, even if they might feel that they are buying bitcoin as aggressively as they can, if their discretionary income amounts are pretty low, then they may well be buying bitcoin for well more than 10 years before they might start to feel that they have enough bitcoin or more than enough bitcoin.