JJG’s Outline of Bitcoin Investment Ideas

[reagansimms]

The moment a person wants to invest in bitcoin and they start timing the market looking for a good time to enter they are automatically announcing themselves as not wanting to invest in bitcoin but to trade and this is especially true for those who are always waiting for a DIP before they can start buying bitcoin, if they plan id long term then they naturally won't bother about when to start but since it's short term they end up looking for a perfect entry point and also don't keep their investment within what they discretionary income can handle, to make good short term gains they believe that their discretionary income isn't enough and since they are planning on selling early they don't see anything wrong with investing outside of their discretionary income.

A good investor will not analyze the market and try to find the lowest entry point for a profitable purchase of bitcoin. He should focus on consciously starting to make periodic purchases and not interrupting this process. And in order not to interrupt the purchase of bitcoin, he must be absolutely clear about the expenditure of funds for the needs and how much money remains each month. Personally, I use a counting app for this. This allows you to find a convenient measure for investing, as well as understand how to create an emergency budget so that in no case do not take money from investments in case of unforeseen circumstances.

Don't let yourself continue to be trapped in something uncertain "chasing the lowest point" because no one knows when the lowest point will be, the result is that you will continue to be trapped because you keep waiting, never buy and miss the train. DCA is the right answer for those who are still waiting, this strategy does not require looking for the lowest point, you only need to create your own buy point every month. To ensure that DCA doesn't stop midway, you must set aside a portion of your income at the beginning of the month, and use the rest for other needs. This portion must be clear, the aim is to prevent DCA from being hampered when there is a sudden need.

[Different patterns]

I consider you correct for calling out Nwaswago, yet at the same time, you seem to be close to making the same mistake that he is making with the implication that "basic knowledge" is necessary, which you do not explain what is the basic knowledge that you are suggesting to be necessary.

What if some newbie reads your post and he is getting ready to buy bitcoin based on his knowing that he has discretionary funds, but then he sees that you are recommending that he needs to have "basic knowledge," so then he decides not to buy since he does not know what "basic knowledge" is.  I would not consider it unreasonable for a bitcoin newbie to potentially come to the wrong conclusion about his needing to learn more about bitcoin based on your assertion that "basic knowledge" is required in order to get started buying bitcoin.

Yes you got me there and I get your message because personally I was finding it difficult using the word “Basic knowledge” when trying to make my assertion of getting started with bitcoin investment knowing fully well that newbies can actually swing into action in buying bitcoin once they learnt that their discretionary income is available. I was not really intending to say that newbies might need to wait to learn more before getting started with bitcoin investment, but a common sense should always set them on the path that they should get started with buying bitcoin immediately  their discretionary income is ready and not to wait to learn more knowledge. Because this basic knowledge sometimes most newbies might be confused and think they maybe needing to go through some specialized training to gain this basic knowledge In bitcoin investment whereas in real sense they don’t have to, all they need to do is get there discretionary income ready and start buying bitcoin and hold and they will learn more from their real life experience while buying bitcoin and hold, so yeah you’re on point.

I think that part of my ongoing emphasis is that individuals can decide what they want in terms of if they are ready or not ready or if they believe that they need to know more. Having discretionary income and knowing from where they are going to buy their first bitcoin (satoshis) are the only objectively needed items. Otherwise, they use their judgement both in regards to whether to get started and then also how much they are going to start with, whether that is $100, $10 or some other amount that they consider to be comfortable for their assessment of their situation.

Maybe, for example, I might run across a person who tells me that he had heard about bitcoin and he even heard about a specific exchange that he could start to buy bitcoin, and he even tells me that he has $100 per week that he could invest into bitcoin, but he is nervous that he does not know enough about bitcoin.

Some folks keep delaying their starting, just because they want to know and understanding every details of bitcoin, but once put that mindset first, it often leads to endless waiting and end up regretting. You do not need to understand every detail about bitcoin before first bitcoin. as an investor once you understand the basics is enough for you to started, because some of valuable lessons come from participating in market. But once having the discretionary income and start with amount you are comfortable leaving invested for long term. What is really good thing about starting small? Good thing is that, start small reduce the amount of risk and help people to gain firsthand experience while keep their financial risk manageable.That mean you experience every movement of the market yourself and gradually build confidence. The important thing is not delay your investment and stay consistent with accumulation instead of fear of imperfection.

[Sobz]

A good investor will not analyze the market and try to find the lowest entry point for a profitable purchase of bitcoin. He should focus on consciously starting to make periodic purchases and not interrupting this process. And in order not to interrupt the purchase of bitcoin, he must be absolutely clear about the expenditure of funds for the needs and how much money remains each month. Personally, I use a counting app for this. This allows you to find a convenient measure for investing, as well as understand how to create an emergency budget so that in no case do not take money from investments in case of unforeseen circumstances.

And analysing the price of Bitcoin always have bad effect. Though one may be lucky and analyze it to the speculated price which they want to buy but that is not the end. After analysing the price of Bitcoin their is always a desire of how one wants the price of Bitcoin to move and when it is not like that it becomes a problem,  this is just one of the effect of analysing the price of Bitcoin. After analysing their is always an expectation and bitcoin being unpredictable it can make one to do otherwise that may effect the investment.  Understanding their is no good time to bitcoin makes one to invest and not expecting how the price bitcoin will be at anytime.

[Grease5000]

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

I think  it is a  good idea  to have a plan and also to understand the nature of bitcoin before one start investing, but I don't think a long term bitcoin investor should focus too much on finding the perfect entry point.  Because that mindset can easily turn into trying to time the market.

The most important plan should be to invest with using  only discretionary income follow the  DCA or Lump sum depending on which is suitable to your income and stay consistent. This  makes holding much easier because the decision isn't based on getting the perfect price entry but on continuously accumulating btcoin over the long term.

[Gost ms]

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

I think  it is a  good idea  to have a plan and also to understand the nature of bitcoin before one start investing, but I don't think a long term bitcoin investor should focus too much on finding the perfect entry point.  Because that mindset can easily turn into trying to time the market.

The most important plan should be to invest with using  only discretionary income follow the  DCA or Lump sum depending on which is suitable to your income and stay consistent. This  makes holding much easier because the decision isn't based on getting the perfect price entry but on continuously accumulating btcoin over the long term.

What do you mean by understanding the nature of Bitcoin? To start investing, an investor only needs basic knowledge about Bitcoin and common sense may not say that there is a need to learn much other than discretionary income. If a person is able to find and get discretionary income, then he can definitely start investing and continue all the activities along with starting investing. Starting investing is the most important thing, when a person waits to gain knowledge before starting investing or learns a lot to gain basic knowledge and moves forward accordingly, then he will fall behind a lot.

Gaining knowledge and investing can go hand in hand. So why should a person wait to gain knowledge and wait to invest and miss out on buying opportunities and may move away from the humanity of investing.

[devouring-DARKNESS]

He is probably talking about speculating in the market to know the best entry point to maximize his potential to make more profit after this. Sometimes we need to take our time to understand the market truly; this is when we discover the season we are in and the recent performance from the market before we decide how to come in.

Of course over every investment we are making we should have a plan towards the position we are going totoake on it, another thing to consider is having a particular strategy that will enable us to maintain holding our investment after buying, just as you wanted to speculate to know the particular entry point you are giving to invest, everything in cryptocurrency Bitcoin investment comes with a step at a time and we must be deliberated on how we go about with anyone of them to make things work out as we expected.

I think  it is a  good idea  to have a plan and also to understand the nature of bitcoin before one start investing, but I don't think a long term bitcoin investor should focus too much on finding the perfect entry point.  Because that mindset can easily turn into trying to time the market.

The most important plan should be to invest with using  only discretionary income follow the  DCA or Lump sum depending on which is suitable to your income and stay consistent. This  makes holding much easier because the decision isn't based on getting the perfect price entry but on continuously accumulating btcoin over the long term.

There is no valid reason for a long term investor to be looking for a perfect entry point unless they are actually short term traders in disguise because any long term investor will know that in the long run any small short term price change won't matter much, so instead of waiting for a particular price before they start buying they just buy when they have the discretionary fund to buy with, this way they buy even when the price DIPs and when the price goes back up because they are not buying for the current price but for what the price will be in the future.

[The Founding Titan]

A good investor will not analyze the market and try to find the lowest entry point for a profitable purchase of bitcoin. He should focus on consciously starting to make periodic purchases and not interrupting this process. And in order not to interrupt the purchase of bitcoin, he must be absolutely clear about the expenditure of funds for the needs and how much money remains each month. Personally, I use a counting app for this. This allows you to find a convenient measure for investing, as well as understand how to create an emergency budget so that in no case do not take money from investments in case of unforeseen circumstances.

And analysing the price of Bitcoin always have bad effect. Though one may be lucky and analyze it to the speculated price which they want to buy but that is not the end. After analysing the price of Bitcoin their is always a desire of how one wants the price of Bitcoin to move and when it is not like that it becomes a problem,  this is just one of the effect of analysing the price of Bitcoin. After analysing their is always an expectation and bitcoin being unpredictable it can make one to do otherwise that may effect the investment.  Understanding their is no good time to bitcoin makes one to invest and not expecting how the price bitcoin will be at anytime.

Most people don't know how to handle disappointment but they still do things that will most likely lead to them getting disappointed, I don't see anything wrong with trying to predict the price of bitcoin, as long as you don't dwell on that prediction, but the moment you make a prediction and start to plan your investment around that prediction you will not be able to handle it when reality hits and things don't go the way you planned for them to, bitcoin is more or less impossible to predict 100% so while we can definitely try our luck we shouldn't depend on it.

[Sonia_123]

When someone wants to invest in Bitcoin, there should be careful observation because some people just jump in and buy without understanding the system. This is because when the market isn't moving in the direction they want, they will rush to sell because they don't understand how it works. I don't know why they will be panicking when they know that the price will return to normal and even surpass the initial price they bought. Because of the way the algorithm operates, there is no way that there won't be a recovery from the decline. When investing in Bitcoin, you should know what will make it easier, which is to use DCA and have emergency reserves at the same time. And people who know what the dip is about are always happy. Because they can even buy more.

Observing investments how? I think the only think that is important for investors is the capital that him/she can start up the investments and understanding the market system since the market is fluctuating all the time. Because in investing once a person have get the best strategies there’s no any difficult things in the investments, but if your talking about the observing your conversations is out the investments and this can confuse some of the beginners who are new to the Bitcoin investments.

I want to correct a few errors so that newbies like me wont make the same mistake I made due to a misguided statement.  

First, no strategy is the best, because the term best is subjective. DCA may be the better option for many investors, while lump sum and buying on dip are better for some. It all depends on the financial capability and structure of the goal. I can start my investment with the DCA method and, along the way, switch to buying on dip or lump sum, which may be as a result of an increase in income or some work bonuses. I can also switch investment methods if I have reached a certain phase in my milestone, which warrants me to use a safer and less risky strategy to invest.

Please don't go confusing yourself, there is a difference between combining different investment strategies and switching between strategies, there is no reason for you to suddenly abandon the DCA simply because you feel like you are no longer a newbie? Have you hit over-accumulation yet? My guess is No, there is nothing wrong with buying the DIP or lump sum purchase but for someone who hasn't hit over-accumulation yet completely switching to these other investment strategies without including the DCA is unsustainable, we won't always be in a dip and there is no guarantee that you will be getting enough discretionary income to only lump sum.
So if you are talking about combining the DCA with the other investment strategies then that's a different story from leaving the DCA for a different strategy.

There is nothing wrong if you make use of the three strategy before getting to your overaccumulation stage, it all depends on your finance, an investor might be steadily dcaing and all of a sudden his financial status changes, he will lump sum, fortunately for him the dip comes he also goes for it while stills dcaing it does not matter all that matters in bitcoin investment is consistency in the market , as long as you are able to constantly buy bitcoin with whatever funds you feel is okay by you without affecting your expenses then you have no problem.