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”?
Well nobody is pressing an emergency funds on anyone's neck. But if you're someone that is serious with your investment and you want to safeguard your investment it's wise to have an emergency funds, but not mandatory for you to have an emergency funds since you feel it's more like people are pressing your neck, Come to think of it I know some guys who have money and are from families that have money like rich guys and wealthy family, More like a wealthy parents who are investigating in Bitcoin, whenever they hit a rock bottom in there life they don't even have to worry about there investment, they have parents who will say SLIMZEE you can have this money since you're investing in Bitcoin and you have this emergency to sort out, probably a loan and they don't even have to pay back that mortgage, I'm forced to think that you falls into this category of folks.