However, emergency fund is not mandatory for everyone.
That is a strange statement, and I find it difficult to understand how anyone could consider themselves as an investor in bitcoin without some kind of emergency funds (or back up funds) - and surely there could be some cases in which discretionary income is guaranteed.. and so those funds may well be serving as emergency funds.
Essentially, it makes no sense to me to proclaim that emergency funds are not mandatory... especially if we are talking in terms of investing rather than gambling.. Sure, if you are gambling then there are a lot of things that you can do that no rational person would do, absent some dire circumstances in which they might not have a choice.
It is indeed a very strange statement to say that Emergency funds is not mandatory. Anyone who is really interested in bitcoin investment would understand that Emergency funds is a must have to safeguard your bitcoin stash. Anyone who sees emergency funds as not mandatory is either a trader or not ready for bitcoin investment. Gamblers sometimes disguise as investors to spread some false information about bitcoin accumulation and investment strategies.
But there some common unambiguous knowledge that anyone should have...one of them is that Emergency funds is a must have if you really aim at holding for a long time. Tampering with your emergency funds is also another way of leaving bitcoin investment any moment.
Several times in this thread, and maybe some of the related threads, we have observed that there are likely a lot of people (especially rich people) who have a lot of various resources, including that they may well have friends and family that would bail them out of short-term cashflow situations.. such as.. this might be dad or mom.. :
In these kinds of rich people situations, the $20k "loan" may not even need to get paid back. .and the son might even have some.. other back up ways to get money in case dad or mom did not bail him out.
To be honest, the whole idea of emergency funds being pressed on people’s necks sounds a bit off to me.
First of all, we’re always told to only invest what we can afford to lose something that won’t break your back if it disappears.
Then, regardless of any aid or help you might get, you’re still expected to have some financial capability to handle your regular struggles without throwing all your money into crypto.
But does it really have to be called “emergency funds”?
Firstly, it’s called emergency funds giving the reason most times we encounter difficulties unexpected so in such situation instead of withdrawing our bitcoin the emergency saving stands as an alternative, definitely bitcoin investment is all about a long period of time and thinking it takes just 4 or 3 years to build a solid portfolio well it all depends and obviously reaching a good target can go beyond 4 years. Having a wealthy parents can be a little supportive, honestly those who have such parents still save for the future, I guess the name emergency fund sound troublesome to you but funny enough an investor still have to save for an alternative fund. For the fact emergency funds is essential for a growing investment plan expect you have a wealthy parents that’s willing to support.