Quote from: JayJuanGee on Today at 02:09:19 AM

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

Quote from: JayJuanGee on May 27, 2025, 10:37:41 PM

Quote from: ginsan on May 27, 2025, 06:23:33 PM

Quote from: Olatundespo on May 27, 2025, 05:23:58 PM

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For investment sustainability, a fixed income is needed, which is called discretionary income.

What you said is not true, ginsan.
discretionary income is any amount of money that you still have after you pay your expenses.

Discretionary income does not need to be fixed or stable.
Sure, it is helpful to have stable and/or fixed income but it is not necessary.
If you say that a person needs fixed and/or stable income in order to buy bitcoin, you are adding an additional condition that is not necessary even if it might be helpful.

It is like saying that I need to have $100 every week to invest in bitcoin, and if I only have $50 this week or some weeks I have $10 and other weeks I have $200, and some weeks I do not have any, and the punchline is that there is a lot of variance in my discretionary income, yet I still can invest in bitcoin, even if those amounts and/or those frequencies are not known in advance.

Having a fixed income to invest in Bitcoin is just like a policy, and as Bitcoin investment is meant only for those who have a fixed income.

It seems that I am saying the opposite. I am saying that you do not need a fixed income. All you need is discretionary income to invest in bitcoin. Why do guys keep repeating the wrong thing?

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

Having a fixed income is not necessary to invest in Bitcoin;

This is true.

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

it is better to say one needs an income or source of income.

That is not better. Maybe some guys keep repeating the wrong idea because they do not know the difference between having discretionary funds and having a source income (or a steady income or a fixed income)?

Yeah, there can be guys who have income that is not regular, yet they can still invest into bitcoin one time based on their having extra income after paying expenses, which is called discretionary income.

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

It is not essential that this must be a fixed income, but the most important thing is having a source of income that you can depend on at all times.

You are internally contradicting yourself since having a source income that you can depend on and a fixed income is largely the same thing., and you do not need such a thing in order to buy bitcoin.

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

Then, invest the amount you can afford in Bitcoin, and this must be consistent to accumulate Bitcoin for the future.

Sure, this is true.

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

There are some people whose income is not fixed, especially the self-employed. This does not mean they need to have a fixed income before investing in Bitcoin; as long as there is a source of income, anybody can invest in Bitcoin.

I think that you are saying the same thing, but just using different words... so then we are arguing about semantics rather than arguing about the underlying idea... which means that we largely agree, but we are just expressing the matter differently.

Quote from: Derekfunds on May 28, 2025, 04:39:46 PM

Quote from: Rockstarguy on May 28, 2025, 03:59:53 PM

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I think the best way for someone without a fixed income to invest in Bitcoin is getting the average of what they use to earn or make and then take some cent from the average and be investing with it. With this, one don't have to struggle on the amount of money to be used for investment as someone whose income is not fixed instead of investing with random amount because you might definitely make a mistake and so whether fixed income or not it doesn't matter, what matters is the ability for you to do these mentioned above.

I think that the point is that every week or every month a guy can decide if he has any money left in order to buy bitcoin for that week (or month). There is no need to make grand assessments, even though surely it does help if the guy knows that in the future he is going to continue to have income, yet the more uncertain that he is about his future income, then the more difficult it might be for him to determine that he actually has enough discretionary income to be able to buy bitcoin. If he decides that he does not have discretionary income then he cannot buy bitcoin since he would be using money that he needs for expenses.

Quote from: ginsan on May 28, 2025, 04:48:50 PM

Quote from: Stormisover on May 28, 2025, 02:29:56 PM

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As stated by JJG, discretionary income will never be stable, it can reach $100, $200 or $30 and it all depends on their living expenses.

Some folks will have more steady discretionary than other folks, and surely the more money that a person makes, the more likely that they are going to have a lot of extra discretionary income and more options, and folks who have small levels of discretionary income will likely need to manage their cashflows better in order to not mess up.

You are correct that I probably mentioned that there is likely to be variance in discretionary income, yet if someone is making a lot of money (and especially if their level of income is way greater than their expenses), then they may well not even notice the variance in their income and/or expenses, as compared with someone who does not have a lot of discretionary income.. they will have to pay more attention in regards to making sure that they are not making mistakes, and even keeping more backup funds in order to account for their not having a lot of discretionary income... and sure increasing income and/or decreasing expenses can help folks to have more options, since it will increase their discretionary income.

My emphasis in my earlier post was that a guy does not have to have a lot of discretionary income or even a steady discretionary income to invest in bitcoin, yet a person with more discretionary income and more of a steady discretionary income will have more options than a person who does not have such circumstances, yet all that is needed to invest into bitcoin is discretionary income. and the details can be worked out, since the details are likely going to vary from person to person.

Quote from: Shadiq on May 28, 2025, 04:52:49 PM

Quote from: Pablo-wood on May 28, 2025, 02:42:52 PM

Could this be another way of saying having a plan to consciously use DCA without having to depend solely on discretionary income? I agree with you only when there are other sources of income. For a skilled person whom in most case earn high or someone who can carryout multiple jobs before the end of the month it's much easier to apply DCA without depending on discretionary income because they have constant flow of money.

But a scenario where this opportunities are rare. I mean having the chance to earn more income then the only option is to depend on the available income which in this case fall back to the discretionary income.

You may be trying to prioritize alternative income sources in your statement. I would not hesitate to agree with you on this.

It would be great if you could find alternative income sources and use them in your DCA rather than just doing DCA based on discretionary income. I often notice that we don't talk about alternative income sources much in the investment world. Maybe it's because it's not easy for everyone. Finding a discretionary income source may be somewhat easy for most people, but alternative income sources are not available to everyone and are also difficult to find. But it is certainly possible if we can put in the extra effort.

Having alternative income sources means we don't have to rely solely on discretionary income sources to do DCA. It makes your investment journey easier and helps you reach your goals faster. It even makes it easier for you to plan your finances. Generating additional cash flow and building the necessary funds becomes much easier.

You are making things sound even more confusing than necessary Shadiq. A person who adds more income sources is likely adding more discretionary income, so the person could have all of their expenses covered by one job, but if they get additional jobs, then they increase their discretionary income based on the new jobs. Some people get extra jobs because they are not able to live off of the income of one job, so they might still be covering their expenses by new sources of income, yet at some point all of their expenses will be covered, and then whatever they make after their expenses are covered would be discretionary income.

Quote from: Jewan420 on May 28, 2025, 06:12:28 PM

Quote from: ejikeme24 on May 28, 2025, 05:49:50 PM

I think a beginner can start with the basic knowledge, as they can not be able to get all the required knowledge without investing. However, When a beginner is provided with the basic knowledge about bitcoin investment it means that they're fully aware of the market volatility, and also knowing that investing with our pocket money is not advised but from their discretionary fund, and also knowing that emergency fund is required during this process of accumulation, and also, the risk that is involved and how to manage them. As Long as a beginner is provided with this guidelines and it happens that their discretionary fund is available, they can start accumulating bitcoin as soon as possible, probably if there's any information that they're missing out I believe with time they will be able to figure it out.

Basic knowledge is not enough to start investing, you need to have a source of discretionary income and mental preparation. Suppose you have basic knowledge but do not have a source of discretionary income, then can you start investing and sustain it for a long time? No, it is not possible. Because you may be forced to withdraw that money from the investment and face losses. Even if you are not mentally prepared, there may be errors in your plan and doubts may arise in your mind about the investment. Basic knowledge is enough for investment in terms of knowledge, but overall basic knowledge is not enough to start investing.

This post is confusing. A guy need discretionary income to invest in bitcoin. Yes. Basic knowledge involves figuring out if his income is greater than his expenses, then that is called discretionary income, so he can get started buying bitcoin. He can learn the details as he goes, but if he has a discretionary income, he can get started.. and sure of course, he can consider his 9 individual particulars too, but he does not have to have his 9 individual particulars worked out to get started.. all he needs to know when he gets started is if he has discretionary funds..

and sure the less that he knows and the more uncomfortable that he is with bitcoin, then he likely would need to reduce his starting amount, so maybe a guy knows that he has $100 per week that he could use to invest in bitcoin, yet he is uncomfortable in the beginning and as he is learning, so he might decide to start investing $30-$40 per week while he is learning some particulars and as he becomes more comfortable, he might decide to increase his investment into bitcoin, and perhaps after 3-6 months, he might figure out that he has ways that he can increase his income and/or decrease his expenses so then he figures out that he has even more than $100 that he would be able to invest into bitcoin on a weekly basis. Learning as you go is good, and actually investing while you learn helps to motivate you to learn more, as long as you are investing sufficiently small enough amounts that you can afford to lose in case you mess up or the investment does not work out.. yet anyone investing into bitcoin should be able to study bitcoin and to consider if they have some ideas that cause them to believe that bitcoin is amongst the better of investments if not the best investment that is available to everyone and anyone around the world who has a discretionary income.

Quote from: Tmoonz on May 28, 2025, 08:24:53 PM

Quote from: Jewan420 on May 28, 2025, 06:12:28 PM

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You don't have to get yourself confused it the same you are saying basic knowledge is basic knowledge and it seems that you both are in the same spotlight of saying certain vitals about basic knowledge. No doubt about having source of income, it is from our income that we be able to determine our discretionary income. However, how about you also consider the 9 individual factors too in the Link below as an inclusive basis knowledge anyone coming to Bitcoin should also know.9 individual factors by jayjuanGee ,

I doubt that the 9 individual factors need to be known in any detail to get started investing into bitcoin, since the only thing that is needed to be known is whether a guy has discretionary income or not, and he can figure out the details of the 9 individual factors as he goes - even though it does not hurt to consider where a guy is at in regards to each of the 9 individual factors at the time that he starts investing into bitcoin.

Yes, without no doubt the discretionary income is the Main thing anyone must need to have before venturing into bitcoin investment, you don’t need to have all the money or knowledge in the world before investing in bitcoin, all what you need as a starter is just your discretionary income. Even if you have all the knowledge in the world about bitcoin but without your discretionary income you can never start your bitcoin investment and that’s why the discretionary income stands out as what you only need most to get started. The discretionary income has been the bedrock of every investment as it has to do with one’s inner convictions to start or do something. The moment you are convinced and decide to go into bitcoin investment, that’s the most important thing you need to have, once you have that then you’re good to go. Your discretionary income is the amount of money left for you after you might have made and meet up with your other main expenses as a person, either paying your bills or rent and other financial obligations. That money left for you is the primary thing you need to get started in bitcoin investment and every other thing comes secondary and you can fix them as you progresses with your investment and accumulations. If you wait to have everything in place before getting started, you might end up not even investing and you’re only delaying yourself and procrastination is a thief of time where by you will miss out with important investments opportunities which may come as at when you were still waiting to have everything and all the knowledge in place before you get started