I must say some folks have a bad financial management, it would probably have something to do with some bad habit and some bad characteristics in life, you find this people who have a good job but can't manage there finances I would literally not say they are unserious, because someone who falls into bad financial management can still be paying bills and be taking care of their expenses, so think financial management is something that people can learn, making mistakes are part of life, but what is important is how to address the mistake of financial management and grow from it, so we shouldn't just conclude that this people wouldn't do well in Bitcoin investment, first of all basic knowledge is essential then, I've had bad financial management but coming here have been a tremendous and helpful in my financial management, previously I don't even know what emergency, reserved funds and all that but it's all learning everyday, so I really think everyone who is interested to invest in Bitcoin can do grate by learning the simple details.

How will someone have a stable source of income and yet don't know how to split his income, this means that the person is unserious and this set of people if they venture into Bitcoin investment with that behavior there is a possibility that they may not go far because if someone can not split his income into various parts then how will he scale through I mean the consistency and seriousness won't be there. Not only newbies think that way even some folks also feel or think same way reason because they lack knowledge about Bitcoin investment and until there mind is renewed they won't still understand the small mystery.

You don't need a stable income in order to carry out DCA  - since DCA does not need to be regular in order to still count as DCA.

Of course, as has been mentioned several times in this thread, there is a need for discretionary funds to be able to buy bitcoin.. and sure each time a person buys bitcoin he needs discretionary funds. 

Regarding accumulating and holding bitcoin, it is true that each time that we buy bitcoin we accumulate more bitcoin.. so that can be done over several years and the accumulation can be done on regular or irregular bases... and it is also true that as long as we don't sell our bitcoin, then we are HODLing whatever bitcoin that we had previously bought..so we do not necessarily need steady income to be able to accomplish each of these things, even though surely we know that the more income that we have, then the easier it will be to manage our cashflow and to keep some kind of a financial cushion so that we can keep buying bitcoin and not sell our bitcoin at a time that is not of our choosing.,. and within the investment context we likely would want to be shooting for 4-10 years or longer in order to keep our bitcoin as an investment rather than playing our bitcoin as a trade and/or gambling.


You might be correct.. but if a person has discretionary funds, he can choose how to spend such discretionary funds, including going into bitcoin with some or all of the discretionary funds.

I will agree with you that if the person does not know his future income, then he might not know how he is going to pay for his various expenses, so if he is spending from money that he needs to pay for his expenses to buy bitcoin, then he may well run out of money and then need to sell some or all of his bitcoin to pay for his expenses, so surely guys who are investing into bitcoin need to account for making sure that they are being realistic in regards to buying bitcoin and expecting to hold them 4-10 years or longer.


That is true.  There is a need for discretionary funds to be able to buy bitcoin.


I agree with these points.  If we choose to invest into bitcoin through a DCA approach, then there are ways to attempt to be flexible with our DCA in accordance with our income and especially with the availability of discretionary funds.


I agree with everything you said in your post ZeroVinsonN - yet I frequently suggest that measuring personal aggressiveness has to do with how much of their discretionary income that they choose to invest into bitcoin, and not how large it is... Accordingly, folks with large or small discretionary incomes can choose to be aggressive or whimpy within their considerations of how much of their discretionary income they choose to invest into bitcoin versus using such discretionary income for other purposes.


You seem to be creating too many conditions that serve as prerequisites (obstacles) in regards to getting started investing in bitcoin.

To me it seems that the main thing that is needed is ti make sure that discretionary funds are available, and the other details can be worked out (and improved upon) along the way.

Surely, the more messed up a person's finances and/or psychology, then the more likelihood that they need to start out more slowly while they become accustomed to investing in bitcoin and work on improving their cashflow management systems and practices.


I mostly agree with these points, except the extent to which you (SmartCharpa) are suggesting that a person needs to have their finances and psychology in order prior to getting started with their investing into bitcoin.

I agree with you on the aspect of not waiting to get a stable source of income before getting started, but having a source of income is very important so as to enable us maintain our weekly or monthly routine. Because without a source of income there's no way we can be able to build our discretionary funds and that of emergency fund because is through our weekly/ monthly income we use to build our discretionary funds and that of emergency fund this is why we need a source of income so as to enable us maintain the ongoing buying of bitcoin without seizing.

I totally agree with you because if an investors or newbies that can't be able to sort out his discretionary income or doesn't have a discretionary income to invest, than uses the money meant for his bills, such a newbies or investors will end up gambling,  because his mind will never be at rest and he will keep him/her monitoring the market price so that you he trade at any given period that the market tends to go higher. An investors should not consider using the money meant for his bills but try to all he could to sort out discretionary income so that he can never be in a hurry to trade but make use of Long term.

This mindset has made many people miss their opportunities in Bitcoin. They will always be looking for excuses and the perfect time to make their first Bitcoin investment, but that perfect time may never come. Many of those who are happy with their Bitcoin investment today didn't invest on "a platter of gold," it doesn't have to be 100% regular or convenient money, sacrifice is part of it.

Instead of that shopping spree and frivolities, especially on wants rather than necessities, they can divert it to Bitcoin. No matter how little, it could be a gradual widow's mite savings. Before they knew it, it had grown to something tangible.

Most people don't understand that into invest in bitcoin they have to be willing and ready to not touch their investments until the end of their investment period, they pour alot of their money into bitcoin and not just their discretionary funds, but the money meant to pay bill too, they do this because they want to grow the portfolio as quickly as possible but they fail to realize that investment done with money meant for another thing is a financial mistake and the reality of it only hits them when they are in a bind and the only way out would be to sell their bitcoin and then they start blaming the emergency situation that came up without realizing that it was their poor use of the funds that put then where they are in the first place.
Bitcoin investment should be done only with discretionary funds after all necessary bills have been handled, how aggressive a person buys depends on how much discretionary funds they have and not necessarily the size of their weekly or monthly income.

New investors also think that they may not be able to balance their Bitcoin deposit with their income and are afraid to invest. This is because they are new, they need more time, they need to analyze the market, they need to know more about Bitcoin. I think the reason why Bitcoin savings are easier and more effective for newbies is that they enter the market with little knowledge and can already hold large amounts of Bitcoin by being knowledgeable and experienced. When starting Bitcoin, they may focus on saving with superficial knowledge and continue to save from discretionary income (from a relatively small fixed income).

This is just the point sir, and I also share the same sentiment as you because someone might have a stable source of income but still can't figure out his discretionary income needed to start his or her investment journey, but once you can sort out your discretionary income from your weekly or monthly income, their is nothing stopping you from investing consistently.
Most of the problem of most of this newbies investors is that they think that they must have it all before they can start investing, they actually don't know that once they have the basic knowledge about Bitcoin and their discretionary income is place, they are good to go.

I still wonder how often this can be said before people will realize or know that what is needed to get started with bitcoin investment is not about having a stable source of income but discretionary income and investment made without discretionary income is gambling because bitcoin is for a long time purpose so that's why we are expected to invest with our leftover income since we already settled all necessary and important needs.