I doubt that you are making any meaningful and/or important point OrbitalX - since the ways that guys use either term would depend upon the context inht which he is using such term... so at first there were guys who were seeming to proclaim that guys should not be investing into bitcoin unless they have a steady income (which they might have had referred to as a source of income or source income.. either way).
Something else to ponder here, I don’t necessarily agree with you can’t invest in bitcoin if you have no income source. When you consider your emergency funds include your dca amount as per the term; 3,6,9,12,18 etc months of funding/living. Technically you don’t have an income but you planned for the worst and can continue to DCA too with the emergency funds include kicking in, in your time of need.
We can use the terms
Back up funds
reserve funds
emergency funds
and these communicate similar ideas, yet at the same time, I like to consider that the concept of emergency funds likely means that we can ONLY be using that money for actual living (perhaps basis?) expenses, so by the time we deplete all of our funds and all that we have remaining is emergency funds, then we are likely in a pretty bad space where all that we have left is emergency funds and then bitcoin. Now if we have abilities to live off of our emergency funds beyond 3 months, then likely those excessive funds are not really emergency funds, they are more like reserve funds and/or back up funds and can be used for purposes other than emergencies (and/or just basic living expenses).
At some point in time when we are depleting so many of our various back up funds and reserve funds, then all we have left is emergency funds, and at some point, we cannot buy bitcoin any more.. since we hardly have any money left and we will run out soon.. Our status is devolving so badly that it is possible that we are going to end up having to start to sell from our bitcoin since our emergency funds are getting close to running out.. so it does not seem to make any sense by the time we get down to emergency funds to continue buying bitcoin with our soon depleted funds...
It seems to me that getting down to a point of having to dip into emergency funds indicates that our situation has gotten to a pretty bad (and perhaps even bordering on desperate?) place.
If anyone is counting reserve funds and other back up funds as emergency funds, then surely they have more flexibility with those funds that are not the emergency funds... since from my own thinking getting into dipping into emergency funds is an indication of a pretty dire place that none of us should want to be... and we should be attempting to engage in cashflow management and/or investing practices to avoid getting there. and surely not putting ourselves into such a place due to sloppiness and/or recklessness.
[edited out]
However, I agree with what you said about emergency funds,
before investing a lot in Bitcoin, it is wise to first save money for emergencies. So if something happens, you won't have to sell your Bitcoin at the wrong time. You will already have money to deal with the problems. Aside from having a steady source of income, it's important to plan for the future, understand your financial condition, and only spend money you don't need right now. Even if you do not buy Bitcoin every week, we can still grow little by little.
You will not find me saying that there is a need to establish emergency funds before starting to invest in bitcoin, and I think that the building of an emergency fund and the building of a bitcoin investment can happen at the same time.
Sure it may well be true that the more bitcoin that we have, then the more that we might want to make sure that we have some kind of an emergency fund, and perhaps many of us would not want our bitcoin to be serving as our emergency fund.. .. so yeah, of course, we have to assess where we are at, and if we have absolutely no back up funds (that could constitute as an emergency fund) and we have absolutely no bitcoin investment, it may well be the case that we can figure out how to work on developing both at the same time rather than deferring our getting started investing in bitcoin.
Of course, if a person is having difficulties figuring out if he has discretionary income or not, then he has to figure that part out first, since if a guy's finances are in such a bad place that he does not have discretionary income, then he needs to have discretionary income before he is even able to invest into bitcoin, since bitcoin is a 4-10 years or longer commitment, so if someone is NOT able to commit money to bitcoin for 4-10 years or longer, then he may well be planning on trading (or gambling) in his bitcoin rather than investing, and I don't recommend trading/gambling with bitcoin, especially for poor people.