JJG’s Outline of Bitcoin Investment Ideas

[abaeze]

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.

I'm getting your point mate. Some people tend to know everything before venturing in Bitcoin investment forgetting that it can't be possible even if it take them some much time. However, I still can't figured out why many new investor love distancing round a cycle instead doing what's right. For those that are curious, it's not mandatory that we must get to understand or know in details about everything concerning Bitcoin investment before we must start, at any point you have your discretionary funds at hands no need to keep on wasting time , just process and that's is.  Furthermore, experience itself is a great teacher, maybe as you keep on proceeding in your investment journey you can be getting used to others related things or knowledge that can be also useful to your investment process. The fact is that you don't wait to know all before getting started, instead start first and keep learning at the process in your investment.

These are the common mistakes of new investors. I agree that many people delay learning unnecessarily and never start after waiting. However, I also do not fully agree with the saying just follow the process. Because before starting to invest in Bitcoin, it is not necessary to know every technical aspect of the blockchain, but at least you should know the basics. For example: how to safely store your private key or seed phrase, the difference between custodial and non-custodial wallets, and knowing why you should invest only that money that will not cause any problems in your daily life if you lose it.

I also agree with the saying "experience itself is a great teacher". However, there is no forgiveness for some mistakes in crypto, that is, some unintentional mistakes that can be very expensive. Even if someone secretly saves the seed phrase in a place that they do not find or lose it later, there is no recovery for this mistake. Also, coins sent to the wrong address, or being a victim of fraud, and learning from these can often be very expensive lessons.

So in my opinion, learn the basics without getting stuck in excessive analysis, start with small amounts, continue with DCA and keep learning along with investing. In this way, if a new or any investor starts investing in Bitcoin, no one will miss the opportunity and there will be less unnecessary risk and the investment will be successful and safe.

[B-BossMan]

There are some characteristic differences between investors and traders, as well as their mindset and activity.
A trader's activities, mindsets are:

• Wants to time entries and exits
  Sees fiat profits more than Bitcoin amounts
  Relies more on market predictions
  Is more influenced by emotions
  Focuses more on short-term prices
  

On the other hand, an investor's goals and objectives are completely different:

• Prioritizes accumulation
  Has a long-term plan
  Follows a regular buying plan
  Takes price declines as a given
  Can see prices, but does not manage plans with prices
  Uses additional funds outside of expense

These small differences make a big difference in investing. Increases the investor's chances of success.

It true that anyone following the market movements are indeed a trader, but @MAHICO there's no need for you to talk about the differences in between them, I believed everyone here knows about that, trying to explain more deeply on everything about traders may seems misleading to some newbies like you. As such it better you focus on the title of this thread which is Bitcoin investment ideas. But you can still discuss that in trading discussions. Nevertheless, focusing on bitcoin accumulation and holding bitcoin for long-term without timing the market movement is the best approach as well, buying bitcoin with discretionary income regularly feels more better as an investor.

[Livingleged]

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.

I will tell him that it is important to get started as soon as possible, and maybe if he is not comfortable with investing $100 per week, maybe he can start with $30 per week and then figure 0ut what he needs to figure out in order to become more comfortable in order to increase the amount per week that he is putting into bitcoin.  I cannot decide for him, even though I can tell him that it is likely a good thing to get started and then also to spend time learning about bitcoin and the strengthening his cashflow management practices, and in the end he is the one who has to figure out both what bitcoin is and what role bitcoin could end up playing in his life if he might be considering an investment timeline of 4-10 years or more.

There are many guys who might mention something about a shorter timeline or trading or even mention some shitcoins.  I will tell them that I don't recommend trading bitcoin and I also don't recommend shitcoins, yet if they end up getting involved with any of those bad habits or pump and dump schemes, then maybe they could at least try to figure out ways to limit that trading and/or shitcoining to less than 10% of the size of what they are putting into bitcoin.. .and again, it is important to get started, even if they might make mistakes in the beginning and even have a lot of bad ideas in the beginning.  

Without having further information about the particular person, I am not going to presume that they are not ready, willing and able to learn on their own, yet if I see any problematic areas, I might end up addressing them, and if the person has bad habits and inclinations to gamble or shitcoin, for example, I am not going to be able to stop them, even though I would suggest that they focus exclusively on bitcoin and investing, yet if they are going to fuck around with trying to trade or getting involved in shitcoins, then they should at least try to limit themselves to something like no more than 10% of the size that they put into bitcoin.  My philosophy is that people need to learn on their own and I consider them as capable of learning, unless red flags are raised then sure, I may well attempt to address them to the extent that the person gives any shits about what I have to say on the topic.

I totally agree with your underlying philosophy, especially the idea that we should not treat bitcoin education as a gatekeeping exercise where someone is be expected to know and understand everything about bitcoin before they are qualified to acquire their first satoshi.
There is a difference between being informed enough to make certain decisions and knowing everything there is to know about bitcoin. In fact Nobody knows it all about bitcoin, that’s why someone  can just start with an amount that if they lose will not mean really affect their life and continue to learn about the process, privacy and the risk involved.
Having discretionary income should automatically mean one can start buying bitcoin if they are not having high interest loan. If there are high interest loan it’s better off they clear them before they buy bitcoin.
I also like the idea of letting people make some little mistakes while they learn from it. For example If someone insists on trading their bitcoin with some shitcoin despite being warned, you probably cannot prevent them from doing it, Therefore harm reduction may be more realistic than thinking you can control their decision.
The take on this is that bitcoin investment should not require someone to pass ideology or some entrance requirement, people just need to know what that are buying and dealing with. And be good to start with that can genuinely afford to lose and take if up from there.

[ASloveapg]

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.

Traders usually find the perfect entry point to enter. So if a long-term investor wants to start, he can start at any time. And the biggest thing is that none of us can consistently predict the lowest and highest levels of the market accurately. So if we wait for a certain price, we will be out of the market while waiting and if we had started, the price might have increased more during that time. In order to maintain a well-planned long-term strategy, one should invest regularly from additional or optional funds and hold it in a disciplined manner instead of emotionally and not change his decision in short-term volatility. So if the investor is sure that the money he is investing will not be needed in the short term, then it is more reasonable to continue investing regularly and in a disciplined manner without wasting time looking for the perfect point to start.

[Queen uloma]

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.

No one need to become bitcoin expert before they can start investing in bitcoin. The necessary things to know about bitcoin is to know the basic things. Which is, Bitcoin is volatile, don’t invest with money that’s supposed to cover up some basic needs and understand that bitcoin is a longterm investment.  If someone has this basic knowledge and has a discretionary income, nothing will stop him from starting.  I totally agree with you that learning and investing works together. In fact, many people learn more after they’ve buy their first little amount of bitcoin because once money is involved, they will naturally pay more attention.

If someone decides to wait until he knows everything before he invest, he may likely wait for years because no one can’t know everything about bitcoin.  At the same time, it doesn’t mean that a person need to jump into bitcoin blindly. Even if it’s a small amount, it’s good for someone to understand how to keep their private keys safe, why self custody is important, and why panic selling during price crash can make a person lose money. These are basic lessons that can prevent costly mistakes.

[Jewan420]

No one need to become bitcoin expert before they can start investing in bitcoin. The necessary things to know about bitcoin is to know the basic things. Which is, Bitcoin is volatile, don’t invest with money that’s supposed to cover up some basic needs and understand that bitcoin is a longterm investment.  If someone has this basic knowledge and has a discretionary income, nothing will stop him from starting.  I totally agree with you that learning and investing works together. In fact, many people learn more after they’ve buy their first little amount of bitcoin because once money is involved, they will naturally pay more attention.

If someone decides to wait until he knows everything before he invest, he may likely wait for years because no one can’t know everything about bitcoin.  At the same time, it doesn’t mean that a person need to jump into bitcoin blindly. Even if it’s a small amount, it’s good for someone to understand how to keep their private keys safe, why self custody is important, and why panic selling during price crash can make a person lose money. These are basic lessons that can prevent costly mistakes.

If you are interested in investing and have the ability, start investing, even if it is by following others or seeing someone's success. There is no need to wait for anything. After starting investing, do not delay too much in acquiring knowledge, especially do not delay at all in acquiring basic knowledge. To acquire the necessary knowledge, try to acquire at least basic knowledge or necessary knowledge within the time that remains before purchasing for the second time after starting investing. If you have the interest and ability, it is not necessary to wait to acquire basic knowledge.

However, if you want to create interest in investing, you can wait to acquire the idea about Bitcoin or how Bitcoin works and how to profit from investment. Because if someone is not interested, he will never invest, so he can enter the investment only by acquiring the knowledge that is needed to create interest and can acquire the rest of the knowledge after investing. The main thing is to start, then the urge to acquire knowledge will come from within yourself. So do not be afraid to start and do not wait.

[JayJuanGee]

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.

Things like supply dynamics, adoption, market trends and macro liquidity can still be very helpful to an investor.
They get to be able to decide how much risk they are comfortable with taking, how they can size their position, and just how they approach the market in general which i don’t think is a problem.

I disagree. Will the chart determine how much risk an investor can take?
How much risk an investor can take, how large a position they can build, depends entirely on their financial situation, not on looking at the chart. The chart doesn't know anything about your monthly expenses, emergency fund, loans, job stability, and discretionary income. So even if the price of Bitcoin looks cheap from the chart, if you have little discretionary income, buying more may not be a good idea for you. Again, even if the market price seems high, there is no need to stop buying regularly if you have discretionary income after covering expenses.

I frequently emphasize getting cashflow management under control, so then the strength of our cashflow management may well influence the parameters in which we invest, which includes how much discretionary funds are available and even how many back up funds that we are keeping and/or any other investments or assets/currencies that we might have to supplement our back up funds.

So then the price of bitcoin (or the strength of bitcoin as an investment) as compare with other places that we could put our time, energy and value is also a choice that we can make based on our looking into matters and also just our own understanding of our 9 individual factors.

For sure, my own suggestion is to build up our bitcoin investment prior to diversifying into other assets, yet at the same time, if guys come to bitcoin and they already hold a variety of other assets, then what they hold - and their perspective on those other assets as compared with bitcoin may well affect how much time, energy and value that they might choose to put into bitcoin as compared with other places.

I would not consider it to be a correct approach to tell anyone else how enthusiastic that he needs to be about bitcoin as compared with other places that he might choose to put time value and energy, yet at the same time, when any of us invest into bitcoin we are likely going to be incentivized to research further into bitcoin in a variety of ways based on our holding and building up of bitcoin. Maybe if we remain whimpy or aggressive investors then those behaviors can have snowballing effects too.  Also, if we end up making mistakes or otherwise getting caught up in situations in which we end up losing large portions of our bitcoin stash (such as what happened to some bitcoiners who had generated their pass word keys through Cold Card), then we can become disgruntled in regards to bitcoin.  So our own history can affect our future behaviors too, and I surely think that it is a good idea to learn about bitcoin as we go, and guys can choose how they learn and what they learn about and if they start to fuck around with trading and/or shitcoins based on their learning, then that is on them in terms of their distraction and/or lack of ability to stay focused on bitcoin.

[edited out]

Having discretionary income should automatically mean one can start buying bitcoin if they are not having high interest loan. If there are high interest loan it’s better off they clear them before they buy bitcoin.

Since you did not give any exact number regarding what you consider to be a "high interest loan," then I suppose that people can differ in their opinion in regards to what is a high interest loan that would sufficiently constitute delaying getting started buying bitcoin.

Many times there can be good or even better practices that don't result in "all or nothing" outcomes.

I personally would avoid even getting into loans that are greater than 6% yet even if I had somehow fallen into a higher rate interest loan that might be between 10% and 15%, I still might consider that it is good to focus on paying off the high interest loan as soon as possible, but it still might not stop me from getting started buying bitcoin, whether that is $100 per week, $10 per week or some other amount. .and surely the amount of bitcoin that we buy per week may well depend on how urgent we consider to pay off the outstanding loan early (presuming that there are not extra fees and/or penalty for early payoff). 

You can see that I consider it important to get started investing in bitcoin, and it is not a desperation about the price going up, but instead getting used to the process of buying bitcoin, which will also trigger needs for other learning regarding both bitcoin and regarding the strengthening of cashflow management practices.

[edited out]

Traders usually find the perfect entry point to enter. So if a long-term investor wants to start, he can start at any time. And the biggest thing is that none of us can consistently predict the lowest and highest levels of the market accurately. So if we wait for a certain price, we will be out of the market while waiting and if we had started, the price might have increased more during that time. In order to maintain a well-planned long-term strategy, one should invest regularly from additional or optional funds and hold it in a disciplined manner instead of emotionally and not change his decision in short-term volatility. So if the investor is sure that the money he is investing will not be needed in the short term, then it is more reasonable to continue investing regularly and in a disciplined manner without wasting time looking for the perfect point to start.

There is no reason to pump up the abilities and/or outcome of traders, since a large majority of them  either lie about their performance or they rationalize away why they supposedly entered at a "perfect price."  They are full of shit, and there is no reason to glorify them at all or even proclaim  that they have any clairvoyance, when they don't.

Since we are talking about investing, it is way more important to get started, and the price does not matters. So we should not be fucking around trying to tell stories about how the price might matter, when it doesn't.

When a bitcoin newbie has absolutely no coins, he is not prepared for up.  The only way to prepare for up is by having coins.  The ONLY way to have coins is to buy some or to otherwise earn some, and if we have money to buy some, then we may well not even need to wait to earn some since we can just buy some and at least have some coins so that we are at least somewhat more prepared for up as compared with a no coiner.

[Silikiem]

No one need to become bitcoin expert before they can start investing in bitcoin. The necessary things to know about bitcoin is to know the basic things. Which is, Bitcoin is volatile, don’t invest with money that’s supposed to cover up some basic needs and understand that bitcoin is a longterm investment.  If someone has this basic knowledge and has a discretionary income, nothing will stop him from starting.  I totally agree with you that learning and investing works together. In fact, many people learn more after they’ve buy their first little amount of bitcoin because once money is involved, they will naturally pay more attention.

If someone decides to wait until he knows everything before he invest, he may likely wait for years because no one can’t know everything about bitcoin.  At the same time, it doesn’t mean that a person need to jump into bitcoin blindly. Even if it’s a small amount, it’s good for someone to understand how to keep their private keys safe, why self custody is important, and why panic selling during price crash can make a person lose money. These are basic lessons that can prevent costly mistakes.

If you are interested in investing and have the ability, start investing, even if it is by following others or seeing someone's success. There is no need to wait for anything. After starting investing, do not delay too much in acquiring knowledge, especially do not delay at all in acquiring basic knowledge. To acquire the necessary knowledge, try to acquire at least basic knowledge or necessary knowledge within the time that remains before purchasing for the second time after starting investing. If you have the interest and ability, it is not necessary to wait to acquire basic knowledge.

However, if you want to create interest in investing, you can wait to acquire the idea about Bitcoin or how Bitcoin works and how to profit from investment. Because if someone is not interested, he will never invest, so he can enter the investment only by acquiring the knowledge that is needed to create interest and can acquire the rest of the knowledge after investing. The main thing is to start, then the urge to acquire knowledge will come from within yourself. So do not be afraid to start and do not wait.

You still to be contradicting things in your statement, where initially you said it’s better to start investing once we have the ability to do so, and in the second paragraph you said we should wait to acquire the idea about bitcoin before we start. Again, The idea of wanting to start bitcoin investment because of profit making mindset is what have destroyed many bitcoin investors. A successful bitcoin investment is built upon consistency, patience and long term aim. It’s better to focus on building a strong bitcoin portfolio by consistently and persistently accumulating bitcoin and hold using a discretionary income to gradually build up our portfolio and reach our accumulation target or perhaps over accumulation. Personally I think the best idea one can get In bitcoin investment is when they actually get started in accumulating bitcoin rather than waiting and folding hands to acquire the idea of bitcoin before getting started, where exactly do you plan to wait to get the idea from if you don’t get started in doing something with figuring out a discretionary income and start buying bitcoin and learn from your experience while accumulating and holding bitcoin.