That's not what he means, he is simply emphasizing that instead of delaying your investment because you want to set up your emergency fund first you should instead prioritize your investment,
I know some folks would rather look for a way to figure out their discretionary income to enable them get started with bitcoin investment but then I still feel that it's good to have some level of emergency funds before getting started because no one can tell when emergency will arise so for this reason it's advised to have some level of emergency funds or backup funds before getting involve in bitcoin investment. If an investor will see building their emergency funds to some level as delay, then I think it's better you delay than investing with zero emergency funds because it's even more dangerous than that delay you're talking about .
It seems guys get mixed up in their priorities.
If a person comes to bitcoin, and they already prioritize protecting themselves from emergencies, then it seems that they would already have an emergency fund when they get started.
In other words, there is no reason to build up an emergency fund merely because there had been a decision to start investing in bitcoin, unless there is some anticipation that an emergency is imminent.
Another way to think about the whole matter, is that guys should get the fuck started investing in bitcoin from where ever they are at, as long as they have discretionary funds. Surely the initial justifications for making sure that there are back up funds is to make sure that any investment into bitcoin is not going beyond discretionary funds... so frequently the ideas behind back up funds should be to protect the bitcoin from fluctuations in income/expenses that could cause miscalculations in regards to available discretionary funds. Accordingly there is an assurance that discretionary funds are really available for investing into bitcoin, and surely if guys are not sure if discretionary funds are available, then they likely are not going to be able to invest into bitcoin, since they would not have any level of confidence that they are going to be able to hang onto their bitcoin for 4-10 years or more.
Surely it is the case that a good number of normies cannot be 100% sure that they are going to continue to have income coming in, even if they have a relatively solid job, yet there are some kinds of incomes that are more secure than others, yet even when future income is not completely sure, normies are still able to invest in bitcoin based on a certain level of confidence that they are going to continue to have income and if their income dries up they will be able to figure out ways to replace their income with new sources.. and yeah, none of it is 100% certain, yet normies still invest and even engage in years and years and years of building investment portfolios even when they are never completely sure about their future income and/or their future expenses.. and at the same time, if a person has spent years and years and years building up his bitcoin investment portfolio (even if it might or might not also contain other assets), there is likely more and more confidence that the built up wealth can cover a larger and larger variety of emergency situations, if such emergency situations were to come about (which includes potentially situations that amount to unexpected losses of income and/or increases in expenses).
When they have gained confidence in bitcoin, they can increase their DCA amount and buy aggressively to cover up those times that they were buying little by little.
I have my doubts about the abilities for any of us to make up for our past times in which we might have had been investing into bitcoin more whimpily. Sure, it is an idea to invest more aggressively to make up for lost time.. - yet we still have limits in regards to how aggressive we can be..
So let's say that a guy learned about bitcoin, and he decided that he was going to invest into it at around $30 per week, while he is orienting himself and becoming more comfortable.. so perhaps he knows that he could invest $100 per week, but he just is not comfortable enough...
So as he invests he little by little raises his amount, and maybe he even goes up to $120 per week or even $150 per week, and part of his motive is to make up for the times in which he was more whimpy.. I question the extent to which that would work.. even though I do recognize that people will do things like that... there are even provisions in American investment laws that gives tax benefits and even abilities to "make up" invest once a guy gets over 50 years old.. under the assumption that sometimes guys will realize that they had not invested enough prior to 50 years old, so when they turn 50, they are allowed to invest at a higher limit into some of the tax benefitted accounts.
I dont think you can fully make up for lost time in investing by just suddenly going aggressive. Time in the market is a compounding engine and this means that it grows on itself over time so if a person spends a long time under-investing, increasing contributions can later improve outcomes but it cant rewind the compounding that the person has already missed because that gap is permanent in a mathematical sense so you can only reduce the gap but you cant erase it completely.
Sure. There is some sense in what you are saying that becoming more aggressive cannot completely make up for past whimpiness, especially since there is a certain value that comes with time in the market rather than timing the market.
Yet, at the same time, we need to be careful in terms of any kinds of dynamics that might motivate a person in present time to perhaps try to increase their stake in bitcoin and to increase their stake in such a way that they are perhaps taking from some of their resources to put such value into bitcoin that they had put in other places and then realized that they probably should have had been buying bitcoin and focusing on bitcoin for that whole time that they were distracted into other things.
Every guy has to figure out how to deal with his own particulars and his own mistakes...and figure out what actions he is going to take as he is assessing what resources that he has available.
Let's say that we have a guy who has something like a $30k per year income ($2,500 per month) with expenses around $1,500 per month, and so maybe he had been in bitcoin for 3-ish years, and in recent times, he realized that he had made mistakes in the way that he had been investing, and so maybe in the last 3 years, he had been putting $50 per week into bitcoin and $50 per week into various shitcoins and/or other projects.. so then now when he realizes his mistake, maybe he decides to invest $150 per week into bitcoin (in order to try to make up for his past 3 years - even though he can never really make up for it), and then perhaps he also takes whatever value is left in the shitcoins that he had bought and he also figures out some way to reallocate that value into bitcoin too (whether the value had gone up, down or sideways relative to bitcoin)....
So, he comes up with a solution that is meant to attempt to make up for the past and also to plow a way forward, and sure maybe his solution does not completely address the impact of his past mistakes, but he accounted for his own situation to try to figure out some present/future path that he considers to be a sufficiently adequate way forward..
At the same time, many of us recognize and appreciate that whatever we are doing, we are likely not going to be achieving perfection, but instead some kind of a best case approach based on the information we have and our assessment of the circumstances that we consider to be relevant.
