Quote from: Finebone on August 19, 2025, 04:19:02 PM

Quote from: DubemIfedigbo001 on August 19, 2025, 03:21:23 PM

Quote from: Cossyblack on August 19, 2025, 08:52:12 AM

Honestly in the right sense, Someone that doesn't have a Discretional income shouldn't have any business with Bitcoin investment because what's is needed to accumulate bitcoin is from his discretional income. Sometimes when he gets too excited investing in Bitcoin, he may start buying bitcoin outside of his Discretional income by using funds meant for his basics needs to buy Bitcoin regularly.

This is where good cashflow management practices and proper discipline take pre eminence. With good cashflow management practice, you'll carve out your expenses and separate it from your discretionary income and further divide your discretionary income into funds for Bitcoin accumulation and those for building backup funds. It's important to note that buying Bitcoin with funds that are not your discretionary funds can be described as being over aggressive and it's not a good Bitcoin investment practice and furthermore it's not sustainable in the long-run.

I largely agree to what you said here with the exception of the bold words in your statement because in my own understanding, any investment made in Bitcoin outside your discretionary income is pure gambling, because it will be just be a matter of time before he tempered with his or her bitcoin investment because the money used in investing in bitcoin is meant to sort out one of his basic needs, so the right word you should be using is pure gambling not over aggressiveness, because it can never be sustained on the longer run.

Yes indeed. Investing aggressively in Bitcoin is one thing. And investing in Bitcoin like gambling is another things. If someone invests 70% or more of their discretionary income, then we may call investing aggressively. When someone invests in Bitcoin with their required money without discretionary income, emergency fund and reserve fund, then that investment will not be able to continue for a long time. Because the person who is investing has a family. He has expenses to manage himself and his family members. Besides, there may be various financial problems in the future. Then if he does not have the money saved, then he will be forced to sell Bitcoin. I am giving some information about the price of Bitcoin the matter will be clear.

In January-02-2017 price was bitcoin $981.79
January -01-2018 It increased to $15,555.85.
January-07-2019 Bitcoin price decreased again to $3,813.21.
If we continue a little more evenly, then in April-12-2021 Bitcoin price increased to $61,045.83.
Next, in January-16-2023, the price decreased to $21,752.42.
Later, in May-18-2024 Bitcoin price increased to $65,455.29.
Now Bitcoin price is $113,756.80.

During this price decline, if someone face some kind of economical problem, he is forced to sell Bitcoin in loss. But if we hold it for a long time, it is seen that ultimately Bitcoin price continues to increase.So if anyone invest in Bitcoin correctly and easily, he can invest for a long time... If someone builds their emergency fund and reserve fund and invests aggressively with discretionary income by following the DCA method, then they can invest for a long time. Investing aggressively from discretionary income is not bad, but the problem is that if one put the necessary money into investing like gambling.