Yes I agree with you. Having an emergency fund is important for investors if they want to grow their capital to a decent level and stick to Bitcoin deposit. You should keep an emergency fund for the long term. As a newbie, I was not very aware of the need for this fund but through market analysis and review I realized its importance and to keep an emergency fund for at least three months. The question in this thread may be how important is the need for an emergency fund for newbie investors and what should they do if they do not have enough money at the time of starting the investment. The answer is that they should start Bitcoin initially without an emergency fund and later on they can keep a part of their discretionary income as floating cash savings.
I don't understand the message that you're trying pass but from what I understand on the above bolded part of your post is that you are getting it twisted on the difference between an emergency funds and a float funds even though, I know that they're all backup funds. When you don't have an emergency funds and you kick start your bitcoin investment, it's important that you start building up emergency funds along side with your bitcoin investment. You don't abandon the duty of building your emergency funds and start saving for float.
Emergency funds is the first and most important after your bitcoin investment and it is also the biggest in size compared to other back up funds which is why you need to build it to at least three months of your income. Float comes last and it isn't important at all to me as a long term bitcoin investor because we always have our float on us whether we are investing into bitcoin or not.
After your emergency funds, the next is reserve funds which serves as a backup to your emergency funds so that we you want to buy bitcoin at the dip, go to an expensive restaurant for dinner, buy a new bicycle and so, you can use from your reserve funds. If you also lose your job, you can start spending from your reserve funds before tampering with your emergency funds since it should be the last to touch. Float wouldn't be able to take care of a real emergency because it's always a very small amount money compared to your emergency funds.
I agree with everything that you explained in your post Sim_card, except I would just suggest that float is merely the money each month that might be in a limbo category because you are not sure about either your income and/or your expenses, yet once those matters are resolved then any extra float money would become part of discretionary funds. .. but yeah, like you said, whether we are in bitcoin or not, we are inevitably going to have certain periods of time or even amounts of money that we are not sure about since our income and/or expenses have not been resolved, and we likely realize that we cannot spend from that float money without taking chances that we might need such money for our expenses once our expenses or our income comes in.. ... yet then once the matter is resolved then float becomes part of discretionary income .. unless some of it has to stay as float based on ongoing uncertainties about income and/or expenses.