I don't really know, but I think I have been thinking out of the box for sometime now, about this supposed "
backup funds" that most people make attributes to when it comes to Bitcoin investment. You might be wondering what it is. Let me give an illustration:
Assuming we are not into any form of investment like Bitcoin and others, we would still be living out normal lives right?, Which means the income we get are our major means of survival, and not our backup funds.
Then why do most people postulate the idea that when investing in Bitcoin, you have to sideline a backup fund which would aid your day-to-day living?. Please correct me if am wrong, but I think such idea is not convincing enough.
If we can consider our source of income as a major way of survival when we are not into any form of investment, then why can't we consider the money we've sidelined from our DCA funds as what we can survive with?, rather than identify it as a backup funds?. For more simplicity, what I mean is that: assuming I received my monthly salary of $100, then I deduct my Bitcoin investment funds of $50, then it won't make any sense to consider the remaining $50 as a backup funds, since it's clearly what I need to survive for the full month. We can maybe use the word
backup if the salary is been split into three places, maybe $50(Bitcoin investment), $40(main survival funds), and $10(backup funds). This is just my opinion.
1. Patience.
2. Backup funds.
Of course, you've identified a key point (Patience) necessary for investing in Bitcoin, but I think you didn't mentioned something, and that is: your level of accumulation.
The unit or amount of Bitcoin you accumulate also has a huge say on how well your long term hodling can profit you. You can't buy $500 worth of BTC for hodl, and hope to get better result compared to someone who bought $5000 worth of btc.
I believe there is power in long term hodling, and also there is power in good amount of accumulations.
