Part of the thing that I also frequently tell people is that they need to have a timeline of 4-10 years or more, and the 4-10 year time line is for guys who happen to be old or have some kind of a health concern, otherwise they should be considering bitcoin as a investment that is 10 years or longer.. so then there are so many folks who get scared by my long term framing of matters.
so my BTC holdings were not really profitable for the first three years, yet I don't regret anything that I did, and I will proclaim that many times people are not really in profits in their first several years in bitcoin.. including if they might be trying to build their bitcoin holdings up in their first several years when they are first getting into bitcoin, too. ... so I will say that they should not necessarily presume that they will be in profits, and if they are in profits, then they may well need to not get distracted by being in profits since they likely still need to build their bitcoin holdings.. so there can be dilemmas getting into bitcoin when the price is going up.
Yeah, because do to there age or health they can or may not be able to hold for a longer time let say 10 years. But one thing people don't understand about this Bitcoin holding of a thing is that holding for 4-10 years doesn't guarantee there will be a great profit, sometimes we see Bitcoin fluctuating up and down for a long period of time and it will not even appreciate that much and whenever things like this happen for 4-10 years there is every tendency that we won't be on an expected profit yet so we should not have the mindset that in 4 years of holding we will see huge profit.so my BTC holdings were not really profitable for the first three years, yet I don't regret anything that I did, and I will proclaim that many times people are not really in profits in their first several years in bitcoin.. including if they might be trying to build their bitcoin holdings up in their first several years when they are first getting into bitcoin, too. ... so I will say that they should not necessarily presume that they will be in profits, and if they are in profits, then they may well need to not get distracted by being in profits since they likely still need to build their bitcoin holdings.. so there can be dilemmas getting into bitcoin when the price is going up.
For a large majority of my time in bitcoin, I have been considering 4 years as a minimum investment timeline, and if people invest less than 4 years then they are trading rather than investing, and sure, even 4 years might not guarantee profits.. but at least a minimum of 4 years can provide a framework for someone who is not sure about his timeline to consider whether bitcoin is a good investment for him, such as someone who might be in his 70s, he might have some ballpark ideas that he may well need the money within a certain amount of time, such as 4-10 years, but then he is not sure, but he still might be o.k. with locking up his money for at least 4 years, even though he does not exactly know when he might need it.
Let's say that the 70 year old has various assets and income (maybe some kind of a retirement income), so he projects ahead and he can see that his retirement income is providing him an income of around $6k per month, and currently, he really only needs around $4k to $5k per month, so he might want to invest $2k per month.
Another thing is that he might have various other assets in an investment portfolio that is a retirement fund, which might be around $500k in assets, and since it is a retirement fund, by law he is forced to withdraw 4% per year from the retirement fund that he has... so that amounts to around $2k.. and yeah maybe that is part of his income that he would like to invest into bitcoin.. but he also might have some other assets that he wants to convert into bitcoin.. so to lump sum invest.. Maybe another $100k, and so he decides to lump sum invest $100k into bitcoin, and he plans to hold it at least 4 years before beginning to consider to draw from it...
The guy is assuming that his investments and his income are going to lose purchasing power, and surely he might want to continue to have around $4k to $5k in income, yet he may also may consider that some of his costs might go up, so in 4-6 years he might need $6k or more just to maintain his current standard of living.
If he keeps investing into bitcoin around $2k per month on a weekly basis of around $400 to $500, then his lump sum amount of $100k will mature faster to get to the minimum of 4 years invested as compared with his weekly DCA amounts of $400 to $500... but tentatively he can still attempt to plan to start to withdraw from his bitcoin in 4 years or perhaps more depending on his health and how things are going in terms of whether his fixed income is keeping up with the anticipated increases in the cost of living..
Whenever, you are doing the right thing and you know yourself that you are doing the right thing no matter the outcome at that moment, you won't regret because you know you are on the right track and knowing that success is not achieved so easily will make one to keep on pushing.
Guys might consider that they are doing the best that they can based on the information that they know, but they might not completely know whether or not they are doing the right thing. They are merely doing their best based on what they know.
Anyone who is new into Bitcoin investment should not put profit in forefront because profit will either spoil your investment or fix it by motivating you to keep accumulating and holding because tomorrow will be better. Now what I mean by profit can spoil investment is that, there are people that will see profit after holding for a small period of time and they won't hold themselves they will sell off there investment forgetting the goal was to hold for a long period of time.
It is easy for guys to get distracted by how much their BTC is in profits, but then also get overly excited if their BTC is losing value, so then their profit level is going down.. so these can be difficult temptations for guys to get worried about the performance of their investments, whether bitcoin or other investments... and perhaps moreso bitcoin if they are not familiar with it or they consider it to be more volatile than several of their other investments.
Finally got back to this.
I don't think we understood each other here. I am talking about a specific group, a very large group that is growing because of social media. This refers to the type of person that would effectively pretend to make an emergency fund, just so that they can show around that they accomplished this feat when in fact they didn't. $100 emergency fund is not a fund, it is a sad joke. Do it right, don't do it for posturing or quickly ticking off a box.
With that, an emergency fund must be able to properly cover at least some sort of real emergencies. If your emergency fund was $100, what is the point of it?
Don't let the perfect be the enemy of the good. Guys should keep working on matters, and surely if their emergency fund is way smaller than their bitcoin investment, then they are going to have to put more priority into building up their emergency funds, and the same is true if the opposite is the case. If their emergency fund is much larger than the amount that they invested into bitcoin, then they have some leeway to be able to invest more into bitcoin. Of course, guys might struggle to figure out how to balance correctly, and surely if they end up screwing up, they are going to be the ones to suffer from their screw ups, so they should have personal well-being incentives in place to make sure that they are not overly screwing up and/or fixing areas in which it appears that they might be inclined to screw up based on poor balances.Perhaps we are talking past each other, since we should not be modeling ourselves off of retarded people (merely because such retarded people exist on the internet or otherwise), we should be striving to establish and to follow systems in which we are attempting to balance our income correctly, and perhaps building our bitcoin holdings and our emergency funds at the same time, as I had already suggested to be a potentially prudent approach to bitcoin investing and/or improving cashflow management systems (including building and maintaining back up funds).
Will it even cover the ambulance ride to the hospital? 
As long as it is not impacting your income too much, I think that an emergency fund can never be too big but can only be too small. I do it conservatively like that.
It seems to me that an emergency fund can be too big, and there is no reason for such emergency fund to be larger than the bitcoin invested amount, and the emergency fund likely does not need to be larger than 3 months of expense, especially once the bitcoin invested amount gets up to 3 months or greater. Surely if a guy wants to maintain other back up funds besides the emergency funds, then he is at liberty to do such, and most likely a guy who already anticipates inconsistencies in his income and/or his expenses, he may actually need to keep larger quantity of back up funds merely to deal with such fluctuations and/or inconsistencies in income/expenses. As long as it is not impacting your income too much, I think that an emergency fund can never be too big but can only be too small. I do it conservatively like that. 1. Large emergency fund, optimally balanced with everything else and opportunity cost considered.
2. Too large emergency fund, opportunity cost failure.
3. Too low emergency fund, not able to cover any real emergencies.
4. No emergency fund at all.
On this scale, where are most people located? At number 4 and a little less at number 3. Now consider the potential consequences when you find yourself at each of these steps. What is the consequence in being in number 2? You lose some potential profit. Compared to the consequences of finding yourself in number 3 and 4 and in a real emergency, the consequences of number 2 are completely meaningless. So for practical purposes of the majority, their fund can not be too large because this basically never happens and they should strive to increase them as much as they can in reasonable way. Between the two, I'd rather people have too large of a fund than have no fund at all. I hope that makes it more from where I am coming from.
Sure, it may well be preferable to error on the side of having more emergency fund rather than not enough, and surely folks who do not have an emergency fund are likely ending up using their bitcoin as their emergency fund, which protecting the bitcoin investment should be part of the rationale to build and to maintain the emergency fund in the first place.
And, like I have mentioned in other posts, it could well take a guy a 1-3 years or more to merely establish an emergency fund and a bitcoin invested amount in which each adds up to 3 months, especially if we may well consider that a guy who is investing 10% into bitcoin and/or his emergency fund, it would take 10 years at such rate to invest 1 year's worth of income whether that is into bitcoin or the emergency fund or a combination of both.
Frequently I have argued that an emergency fund does not need to be more than 3 months, since the funds in an emergency fund are more strictly held for emergencies, yet if some folks want to build back funds beyond an emergency fund and to have more flexibility with the back up funds, then they could do that, even though if emergencies were to come in terms of increased expenses and/or decreases in income, then the back up funds would likely be tapped into and exhausted prior to tapping into the emergency funds and the emergency funds would be tapped into and exhausted prior to touching the bitcoin. And, yeah, it could take some decent amount of practice to figure out reasonable balances in regards to how to build up and to maintain various kinds of back up funds.
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Generally the majority of people do not understand the word risk at all, they just understand it in a superficial literary sense of its definition. Investing in Bitcoin can be considered risky, and it is obviously less riskier these days than it was a couple years ago. However, not investing in Bitcoin is also getting quite risky. People think that by not acting they can somehow get away from risk, this is a lie and a false understanding of reality. Think in other examples from life. Is running across the street risky when there are fast approaching vehicles? Yes. If you suddenly find yourself on the middle of the road and there are fast approaching vehicles, is it risky to not do anything and stand still? Of course yes.The same applies with finances, and anything in the world really. For example, not exercising is very risky yet many people don't do it. You can't avoid the risks revolving around investing or not investing in Bitcoin, no matter what you do. The world is always changing, you will either swim with it or you will sink.
Choosing our position size is helpful in managing risk, and also considering that we are investing no more than we can afford to lose, so we are already appreciating that we could lose our money when we invest it into bitcoin.
Hopefully we figure out an appropriate balance in order to not invest too whimpily into bitcoin, since the guy who invested the last 10 years at $100 per week ended up doing way better than the guy who only invested $10 per week. In fact the guy investing $100 per week, ended up with a bitcoin portfolio size that would have had been 10x larger than the guy investing $10 per week.