You don't need to have a stable source of income before investing but somehow along the line, the stable income is still needed to maintain the steady cash flow that will continuously make you to accumulate more bitcoins because even as you invest within your discretionary income, if there is no steady cash flow it means your DCA will not be regular thereby it will try stagnate your accumulation process and the need to also have a stable income is so that you can remove the fear of market actions such as volatility but when you don't have a stable income source, at any slight changes in the market you will already start to shiver because it will look as if you don't have any back-up funds to ginger your morale during the time of constant market fluctuations.
Let's tell ourselves the truth. Having a steady flow of income plays a very important role in bitcoin investment, and this is the reason why investors can accumulate bitcoin. However, where there is no steady source of income, investors struggle to accumulate bitcoin because they need to meet daily demands. I think it is a necessity for investors to have a steady source of income, because for one to be able to accumulate bitcoin consistently without any challenges, there must be a steady source of income. Let us not sound as if every investor doesn't need a steady source of income to invest in bitcoin; it is possible that some may cope, but more income makes for better investment.
I think you should just understand the simple logic here, nobody is disputing the fact that you don't require a source of income, you need a source of income to be able to build an emergency funds and reserved funds to enable you protect your Bitcoin investment as well as to take care of your expenses, but to start an investment in Bitcoin or to keep accumulating Bitcoin continuously what you require is a discretionary funds, don't you think having a stable source of income doesn't guarantee you having a discretionary funds, for instance I have a stable source of income of 100$ on a weekly basis and all that 100$ goes to my weekly expenses of rent, phone carrier, and groceries, and gas, what of all that 100$ goes to expenses what discretionary funds are my left with, I will say nothing and I can't start investing or accumulating with this so called stable source of income.
Perhaps you decide to invest with your stable source of income it's more like you are gambling with your investment and I must say you plan to fail with that strategy.
I don't know why some guys continue to make the point that source income might not be enough.
Generally speaking, we should be able to assume that it is better to have both a source income and a steady income.
Part of the point is that you don't need a source income or steady income to buy bitcoin, even though it tends to be better to have a source income and a steady income.. but it is not a requirement.
Having discretionary funds, even if it is merely ONLY $10 and one time (like the cigarette example that I keep stating) is enough to get started buying bitcoin.
Each time a person assesses whether or not he can buy bitcoin, he should be able to assess that he is investing from discretionary funds and that his investment plan for each time he buys bitcoin is 4-10 years or longer.
Sure, if something goes wrong.. then a guy mibht have to cash out of his bitcoin in less than 4 years, yet the plan should be to invest for 4-10 years or longer, each time any bitcoin is bought, whether it is $10 or $100 or whether it is weekly amounts of $10 or weekly amounts of $100 or other frequencies and/or amounts, even if the frequency of buying and the amount of bitcoin bought (dollars spent) might not be consistently the same.
Longer plans and more solid investments in bitcoin will likely come from abilities to have steady income and/or even a lot of income.. but it is not necessariy to have those higher levels of income in order to start investing in bitcoin. Starting investing in bitcoin and continuing investing in bitcoin are differing things, even though they ar related. Cashflow management is also different from investing into bitcoin, even though it is not necessary to have cashflow management in order or to be strong when starting investing in bitcoin, even though hopefully guys figure out some balance and better to figure out how they can likely employ more aggressive investment strategies when they have better cashflow management and better income flows.
One thing is getting started investing in bitcoin whihc is quite improtant. Another thing is figuring out various ways to continue investing in bitcoin and not making yourself vulnerable in regards to either having to sell bitcoin at a time that is not of your own choosing or otherwise putting yourself into precarious positions based on overly aggressively investing into bitcoin, and guys are respnosive for their own ways of figuring out how aggressive they are able to be without over doing it, and if guys screw up and become too aggressive or too whimpy in terms of their bitcoin investing and their cashflow management and their shoring up of their discretionary income, then they are going to be the ones to pay for their mistakes.
It is quite likely that a lot of guys will make various mistakes along the way in their bitcoin investment journey, yet if they are able to minimize their mistakes or at least have some balance to contaiin their mistakes so that their mistakes are not overly large and/or don't take themselves out of the game, then surely that will likely be good for them down the road, whether it takes them 1, 2 or more cycles down the road where they might progress from accumulation status to maintenance status and perhaps even making it to something like sustainable withdrawal status, which couod take quite a bit of time to get to points of making such progress and being able to measure payoffs from their bitcoin investing.. even though it is not even guaranteed that the bitcoin investment will be successful, even if a guy does everything as best as he can. There are things that can go wrong regarding the execution of the investment into bitcoin and/or aspects of the bitcoin investment itself.
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It is very important to have a stable income and it is also enough having a stable source of income.
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No it is not. All you need is discretionary money to get started. There is no need to increase requirements for getting started investing into bitcoin.
Setting up an accumulation target would also discipline you against irregular DCAing by omitting some days without any tangible reasons.
Sure investing regularly, persistently, consistently, ongoingly and even aggressively into bitcoin is a good thing.. but guys have to figure out their balance, and they are not going to ruin their bitcoin investment if they happen to have periods of time in which they might invest more conservatively or miss investment times.
Guys choose their level of aggressiveness, and it likely is better to error on the side of being more conservative (or even whimpy) than to over do it.
Guys have to figure out their own balance, and surely I like figuring out ways to try to invest into bitcoin weekly, especially for guys early in their building their bitcoin investment portfolio, but it is still up to guys to figure out both a financial and psychological balance that is at their own level of choosing and not feeling as if their level of aggressiveness is being imposed upon them by someone else.
Ultimately guys should be striving to tailor their bitcoin investment style and even their cashflow management to their own financial and psychological levels, and frequently it can take a while to build up ones comfort through ongoing practice and perhaps reflection and learning too.
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especially if you are a short-term trader, it is very impossible.
Hopefully guys here are not fucking around with trading, and if they cannot help themselves and they want to trade or get involved in shitcoins (and/or gambling), then hopefully they are limiting those kinds of activities and allocations to less than 10% the size of their bitcoin holdings.. and hopefully without cheating.