Actually throwing all of your discretionary income isn't as realistic as it might seem, even for veteran investors they still know that they have other things that they might want to spend their discretionary income on, for newbies even more so, they are new so putting everything into bitcoin investment would be very difficult, they are still learning to trust bitcoin which means they will most likely not be willing to trust bitcoin with all of their discretionary income, plus there is the need to set up their backup funds and if they are investing everything they won't have any for their backup funds, I personally won't advise anyone to invest all of their discretionary income when accumulating bitcoin.

You must be very much mistaken for saying that guys don't need basic knowledge to kick-start, we are not talking about the whole knowledge about bitcoin investment it's about basic knowledge. It seems that you're talking about getting the whole knowledge about bitcoin, if that's the case then I think you're right because there's no way we can know everything about bitcoin investment unless we get started yet we need basic knowledge to get started because it is almost impossible for one to start his or her bitcoin investment without some level of knowledge which can be seen as the basic knowledge, then on the process of accumulating bitcoin that's how they will be learning new things.

You are right that you should not use your entire discretionary income to accumulate Bitcoin unless you have an emergency fund. The size of the emergency fund should be enough to cover 3 months of household/personal expenses. It is important to have discretionary income to maintain a consistent pace of long term Bitcoin accumulation. An experienced investor told me about the importance of an emergency fund - just as important as accumulation Bitcoin is, you should give the same importance to your emergency fund because it is a long term investment effort. Gradually you will continue to increase Bitcoin holdings and its value will increase and preparing for emergencies is a positive way to keep your Bitcoin portfolio intact.

I actually agree with what you have said because bitcoin is not like any other coins that you will go and make research for because already it has make a good name and no any other coins can be compared to Bitcoin. Waiting to get basically knowledge before investing, definitely I'll say you are on a wrong part because if you can use that particular period to invest the sky will be your limit. To invest by using the DCA strategy i think before you know you have accumulate more, I'm not disputing the fact that you want to seek for knowledge but start investing and at that particular period be also learning I think you will have achieved more.

By going with this strategies of mine, honestly you will have more bitcoin and also more knowledge of it, i want to also enlight you that never ever procrastinate when it comes to bitcoin investment because that is how you lose your chances of getting more Bitcoin, it sounds somehow but at the end the entire story within positively. I always encourage people to invest in Bitcoin even without knowledge because I believe they will never lose, i also inform them to invest what they can afford to lose so that after investment there will be looking at their money when the Bitcoin is going down, this. A lot of investment panic not because of anything but because they have not invest what they can afford to lose and which is a very wrong decision.

It doesn't mean that they have discretionary income they can put it all on their Bitcoin investment, since this can backfire at them and will not give them good result.

The best move to do is to balance everything like they should set aside some funds for their emergency funds and have small percentage to use for his other needs in life, then what percentage left can be used for their investment.

With this they could able to protect themselves and have funds to spend to enjoy, while they can able to work out their investment for long term.

discretionary income plays an important for every kind of investors, if they are not investors then don't even tag them as unserious investors because they are not even investors to begin with, to be able to invest and leave it untouched for that many years you will have to invest with money you can afford to lose, money you don't need to settle your life's needs and that's what your discretionary income is, the fact that you are going to leave it untouched for years already shows it's not a get rich quick scheme but this isn't just a 2 or 3 years wait, even a cycle won't be enough that why you will see alot of talks about holding for more than 2 cycles, not just over 2 cycles, more than it, meaning that you are already running into holding for around 3 cycles and more and investing it in bitcoin is the reason why you leave all that money there untouched, if you were just regular saving you won't be able to hold for that long because inflation alone would already make your saving counterproductive making bitcoin the best place to keep it.

Another thing that got me confused from his first statement is when he said that the dollar cost averaging is a strategy that doesn't have the power to increase investors investment by itself which can be misleading, a consistent and and a continuous using of dollar cost averaging increases an investors investment over time all by itself, at this point I also think he doesn't really understand what the dollar cost averaging is all about and the roles it plays when the investors little by little investment is put together, there is so much excited facts about the dollar cost averaging of which he failed to recognized.

I think you’re absolutely wrong, you need basic knowledge to start investing in bitcoin, basic knowledge doesn’t mean that you’re learning everything about bitcoin immediately before you get started with investing in bitcoin, like for example you should understand that what you require to get started with investing in bitcoin is a discretionary amount, and it’s only when you have basic knowledge that you will obviously understand this things, basic knowledge are more like knowing about how to buy bitcoin, and also how to safeguard your bitcoin portfolio, all are under basic knowledge, so you need basic knowledge before you start buying bitcoin, because if you don’t have basic knowledge I don’t think you will understand how to invest in bitcoin immediately as you have a discretionary income as a beginner.

An emergency fund protects an investor from being forced to sell. But having an emergency fund at the beginning of an investment is not mandatory. While it is a good idea to have an emergency fund of for several moths 3-6, this rule is not the same for everyone. For some, it can be more. It depends on the person’s income, expenses, family responsibilities etc. And it can take a year or more for a person to build an emergency fund. It is foolish to wait that long to build an emergency fund just because they already have discretionary income. If someone has discretionary income after expenses, they can divide that money as they wish. Some in an emergency fund and some in Bitcoin savings. This will help them start early and build an emergency fund gradually to avoid being forced to sell.