Quote from: Joy- maker on Today at 07:46:17 AM

Quote from: Sonia_123 on Today at 01:58:39 AM

Quote from: Joy- maker on July 01, 2025, 09:54:23 PM

Quote from: JayJuanGee on July 01, 2025, 09:13:12 PM

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds. Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Those investors that do not see emergency fund as important or necessary are likely to crash before they reach their final accumulation stage. Therefore no matter how much fund you have you still can not do without emergency fund because it's like a life span to your already accumulated satsh, in other for your investment not to gradually get eroded, because in your journey of accumulation you might come across some huddles which you might be tempted to temper your investment, but with the setting aside of emergency funds, you will successfully scale through that phase without touching your investment or if need be very little not selling all, unlike not having any emergency fund to back your investment up.

For those investors that knows the importance of emergency funds they don't joke with setting aside emergency and back up funds.

see the truth is emergency fund and backup fund are very essential when it comes to investment and not only bitcoin investment, but as someone who is just getting started with bitcoin you don't need have to put emergency fund and backup fund in place first before you can get started with bitcoin, rather map out your discretionary income from your main source of income and start investing in bitcoin immediately, less say 3 to 6 months time you can start building up your emergency fund and backup fund alongside your bitcoin investment. But the important thing is getting started first, that's what I and JJG is referring to and not the way you are seeing it from your owe perspective, because we never said emergency fund and backup fund is not important they important but getting started is more important okay.

Well Joy- maker I disagree with this your ideology, telling a newbie who understands the importance of having a backup funds that he those not need to have a backup funds in place first and that he should start accumulating Bitcoin for 3 to 6 months before starting to build his or her backup funds, it seems you really don't understand the importance of having a backup funds as an investor, now you have to understand that backup funds is like a shield that protect you from the starting till the end of your investment journey.
The main reason we are having a backup funds in the first place is so it can help us during any unexpected financial problem or emergency, this unexpected financial problem or emergency can happen anytime either at the first or second month of your investment journey or at the 6th, 10th or even towards the end of your investment journey, the main point is we don't know when this emergency or financial issue will happen so preparing form the beginning is very much important, you can't be accumulating Bitcoin for 3 to 6 months without having any little backup funds is very risky to do that, especially after knowing about backup funds as a newbie.

And lastly Joy- maker I will like to correct you on something I see that you are putting or making a statement like this "emergency funds and backups funds" now emergency funds and backups are not different, backup funds is the general name for both emergency, reserve and float funds this funds has there different function but are called backup funds in general.