Hmm… you’re still not getting the point, all you need to start is that extra little money you can afford to lose which is your discretionary fund,
You have a very poor mindset of what it takes to successfully build and sustain a Bitcoin investment. First, you should adjust this mindset of investing what you can afford to lose because such mindset will only make you afraid of even investing in Bitcoin because you cannot intentionally put your money where you will lose it. There was a reason it was recommended to invest only discretionary income because that is the money you can keep
For someone who has a rich mindset of bitcoin investment and yet you don’t know what the phrase
“afford to lose” means. No one goes into investment expecting to lose, that’s not what I’m talking about or what the statement means; it only means your protecting your financial well-being and managing your risk. And I even added
which is your discretionary fund. Dude didn’t you see that? Or you’re trying to support what you don’t understand eh?
How are you a Senior member when you don’t understand this simple phrase ?
Is like you are a bit confuse here buddy, you said that discretionary income is not a money you can afford to lose, if that's the case, then what is discretionary income?
Because in still your writing, you said that discretionary income is the money left after your basic needs have been taken care of, which is very true, in Bitcoin investment it is always advisable to invest with an amount you are willing to lose, and it's only your discretionary income you can afford to lose, that is why it's recommended when you want to invest in Bitcoin, so am surprised by your statement that discretionary income is not a money you can afford to lose.
When we are referring to an amount of money that a person "can afford to lose," there is a psychological component.
Of course, a person could invest up to 100% of their discretionary income into bitcoin, yet if they make mistakes and they have no money left, then they might accidentally use money that they need for their expenses, so there can be dangers in using 100% of your discretionary income for investing in bitcoin.
Yes, you are certainly right sir, using 100% of your discretionary income to invest in Bitcoin might land you in trouble financial, but am still curious, if you already have a good emergency and reserve funds in place that can carry your financial burdens for more than 3 months, would it still be wrong to invest like 90% or 100% of your discretionary income?
Another thing am curious about is, I initially thought that our discretionary income is that money we can afford to lose because it's the money left after all expenses of our basic needs has been taken care of, so I really want to know, how best can we discribe that money we can afford to lose from our weekly or monthly income?