A steady source of income is always advisable before venturing into this high volatile market. You won't be at peace with yourself if you know you don't have other means to go to other than your crypto. You may likely end up selling your coins at a loss when you badly need it. As much as possible, invest in tangible assets such as real-estate, precious metals , jewelry and others, if your budget can extend to those assets. Being a high risk investment, bitcoin should not be your sole investment to hold onto.

I really don't understand your point, now tell me how you will get the money to invest in cryptocurrency if you don't work, it looks like you really don't understand how cryptocurrency investment works because of you do you won't write this.
Before going into cryptocurrency investment you need to have a source of income and you use some part of your salary to invest into cryptocurrency.

I have come to realize that some investors fail in there Bitcoin accumulation journey because they don't have the right mindset before going into Bitcoin investment.
You need to have a source of income before going into Bitcoin investment because Bitcoin investment is not a Ponzi scheme were you can just go into and make profit fast it takes time to grow and that why without having patience and a source of income you can't succeed in Bitcoin investment.

it's very easy to invest in bitcoin because you don't need to look at the screen all the time, you can set how long you want to hold your bitcoin and leave it in your wallet. but to invest you need money, and to get money you need to work. let's be realistic, you can't make money in a short time on bitcoin investment, and you also can't be sure that tomorrow you can get money from your investment. therefore you need to work, this can be by working in an office, or in another field and then you can get money from work and you can use it as capital for your investments and for your various needs.

Someone once said that "the highest risk of investment is when you don't have any knowledge about what you are investing in." If an investor actually has good knowledge about Bitcoin before investing, there's no way they can not make a profit from their investment. Bitcoin is not for anyone who is looking for quick money or quick profit. If you are looking for quick profit in Bitcoin, then you should learn how to trade futures; that's only when you can make a short-term profit from the volatility of the market. A long-term investor is more concerned about the security of their asset while holding patiently until the bull market starts. 

I would had agreed with you but there are many other businesses that does not require you to star at your computer all day long. The only business that requires you to star at your computer are online jobs or those that require you to make use of the computer but they are not plenty. There are actually more regular jobs than office jobs and more people are working low paying Jobs like supermarkets attendants and restaurants workers. The beauty about Bitcoin investment is that you do not have to wait as long as you would had waited if you were investing into stocks or bonds. Bitcoin does not waste time to give you profit. Some investors has been holding gold for more than 10 years yet they can not compete with you for profit made from investing in assets because you hold Bitcoin.

I can't deny it because I did that a few years ago and it slowly became a habit to keep checking the prices and how much ups and downs I felt during my investment every day.

But the longer we are in bitcoin and invest in it I feel that it is not necessary because after all, by continuing to check the portfolio that I have, it makes my feelings difficult to control because overthinking is even greater than my feeling of security when storing in bitcoin.  So, in order to minimize that for now I don't do that too often and even for now maybe when I check the portopolio that I have is when I only add to the load by buying bitcoin. the rest I very rarely do that because I really don't want to be panicked by what I do by continuing to look at prices because I believe that my goal is not now.

Not all crypto currencies is a sure hedge against inflation, most alt coin projects aren't a store of value as compared to Bitcoin.

Investment is not easy, you've to source out the funds and not only that, for you to invest rightly in Bitcoin you must not do so with your emergency fund, but with spare funds so you can invest for a longer period of time to be able to get profits from it.

How else do you source funds if not to work and make money? You are advised against borrowing money for Bitcoin investment as its volatility might humble you, so you need to work to raise funds, unless you've some inheritance to sell and invest

Trading is not investment, and never a means of Bitcoin accumulation, you can also acquire Bitcoin through buying the dip. To be a profitable Bitcoin miner isn't easy too and it's very capital intensive.

How else do you acquire the wealth to invest into crypto without working?

Honestly, making trading your only source of income is not a good idea, and it is very hard to find someone who can solidly rely on trading for survival. Many of these rich traders that we see and hear about on social media already have different sources of income but there just just talk about it. Almost all of them had invested in other ways even before they became traders. So, if an average person wants to focus solely on trading without any other sources of income, they may easily suffer in life.Trading is not that easy to make money from, and even those with proper knowledge and great experience in trading also lose money. What we need to understand is that we should stop believing everything we see on social media, where some people claim that trading is their main source of income.

I agree with your overall point that many times folks are bragging about how much they make on certain trades and blah blah blah.. so there can be ways to make a lot of money on the way up and also on the way down, yet one of the difficulties is being consistent. 

Personally I doubt that there are absolute rules, yet there could be folks who have various sources of income, or even some of the sources of income can be the way that they set up their various income pieces, so if there is enough capital to cover living expenses, then the remainder of the capital can be used for trading or whatever, and there is no worry about having enough for living expenses... Let's say living expenses are in the ballpark of $80k per year or $6,666 per month, then under traditional withdrawal theories, then there would be a need to have at least $2 million in capital and then to draw 4% per year from that. 

Personally I am of the opinion that in bitcoin you can draw 10% per year as long as you are valuating in accordance with the 200-WMA, so you could have in the ballpark of 21.1 BTC and withdraw in the ballpark of $6,666 per month so long as the BTC price stays at least 25% above the 200-WMA, which would mean that the BTC price would have to stay above $47,500 since the 200-WMA is just below $38k, and yeah if the BTC price goes below 25% above the 200-WMA, then it would be better to reduce withdrawal amounts in accordance some kind of a schedule as is mentioned in the link site.

The main point that I am making is that income can come from investments and choices in regards to how necessary diversification is needed are not absolutely settled, since there might not be much need to diversify beyond bitcoin and cash.. so that perhaps during good periods, there could be 1-2 years worth of living  expenses held in cash or various cash equivalents that are likely not going to be correlated with BTC price moves.

At the same time, I agree with the overall point that if there is not a lot of capital then there likely is a need for some kind of a cashflow to cover living expenses at minimum, and then the extent to which various trading strategies are profitable still may well take a whole hell of a lot of time to build from their lower levels to high enough levels that the capital contained therein would be enough to start to draw upon in order to pay for living expenses and without taking away from ongoing needs for trading capital... so yeah, if there is money that is taken out of the trading capital from time to time for living expenses, then somehow that trading capital still needs to be maintained to a high enough level that it is still able to generate profits whether various prices are going up or down, in the event that the trader has figured out systems in which he is able to make money in either direction. but if the prices are not moving at all then the trader might not be making any money.. so I would not even be suggesting that setting up such supposedly always profitable systems is easy and does not necessarily work so well in all market conditions... and frequently traders who are proclaiming that they are profitable in all conditions, they are failing/refusing to actually give details in which it is quite likely that they are not sufficiently/adequately separating out their working capital and their living expenses and also making sure that their withdrawals are within reasonable bounds in which they are keeping their various kinds of funds separated in sufficiently ways that do not overly place risk on what might be their living expenses funds. 

I think that one of the main mistakes that traders will make in accounting for their funds is to consider a living expenses fund to be completely drawable when likely instead the living expenses fund should be sustainable in itself, so my above example of a $6,666 per month income of at least 800k (21.1 BTC) in the case of bitcoin with a 10% withdrawal rate with the caveats described above, and at least $2 million in the case of traditional funds with a 4% withdrawal rate with the idea that the funds are gaining in value at least 4% per year.