JJG’s Outline of Bitcoin Investment Ideas

[Xackie]

<<<

<<<

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

What you mentioned is also part of the knowledge that everyone who wants to invest in Bitcoin should have first. This means that a higher level of knowledge before directly acquiring income is the most important thing that everyone must have in mind, because many people are reckless enough to invest even though they themselves don't have sufficient knowledge about how to invest long-term.

So, investment knowledge should remain the first priority, supported by capital generated through business or our own monthly income, or capital that can be used directly for investment after meeting basic living needs. That is why I never ignore knowledge because it is like a guide in life because without it it will always be easier to suffer losses because the path and method are not clear or more often wrong when executing by guessing or feeling.

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

[Hardyrobust]

Snip.

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

Discretionary income lets you invest with a clear head. No financial pressure means you won't panic sell. But money alone isn't enough. Knowledge is the foundation. Even with discretionary capital, you can still lose everything with poor management or a bad strategy.

Knowledge helps you spot scams, store your assets right "not your keys, not your coins", use the right strategy, and know when to DCA or buy more. Meanwhile, discretionary income covers your bills so you don't have to sell when the market dumps.

They go hand in hand. Discretionary income is your shield against real-life problems. Knowledge is the game plan that keeps you from getting rekt.

As long as getting started is concerned, what we need is to be able to figure out if we have discretionary income and then we can start accumulating bitcoin. It will be wrong to start investing in bitcoin when we don't have or haven't figured out our discretionary income even when we have acquired all the knowledge we think is necessary. So with discretionary income we can start and learn everything we need to know as we continue accumulating bitcoin but having the right knowledge without discretionary income won't be possible for us to start investing in bitcoin. Hence, the most important thing is for we to figure out our discretionary first.

[Halifat]

What you mentioned is also part of the knowledge that everyone who wants to invest in Bitcoin should have first. This means that a higher level of knowledge before directly acquiring income is the most important thing that everyone must have in mind, because many people are reckless enough to invest even though they themselves don't have sufficient knowledge about how to invest long-term.

So, investment knowledge should remain the first priority, supported by capital generated through business or our own monthly income, or capital that can be used directly for investment after meeting basic living needs. That is why I never ignore knowledge because it is like a guide in life because without it it will always be easier to suffer losses because the path and method are not clear or more often wrong when executing by guessing or feeling.

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

You have actually make a very good point here, this is where some of us delay their investment by bringing excuses of learning before investing, take a look at the example you bring, it is very cleared, start investing from there you will get to know more about it. The only thing that is required is discretionary income and once it has been located start your investment immediately, divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

[Son Of Blockchain (SOB)]

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

You have actually make a very good point here, this is where some of us delay their investment by bringing excuses of learning before investing, take a look at the example you bring, it is very cleared, start investing from there you will get to know more about it. The only thing that is required is discretionary income and once it has been located start your investment immediately, divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

It's doesn’t even take too long to know how to buy Bitcoin so if someone has the discretionary income available i see no reason why the person should be waiting to learn everything before buying, Bitcoin is complex cause the technical aspect of it is also involved which could take a while to be understood.
 So instead of waiting long enough to understand it completely starting with the discretionary income available is more better for a beginner, then with time the person would catch up with the important things that's needed to be known. Afterall, "practice makes perfect".

[IjawMan]

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

Knowing that you need discretionary income to use in making your investment in Bitcoin and equally how to be strategic with your accumulation consistently buying is also knowledge. To have a discretionary income you must have a paying job or a business that gives you income.

Bitcoin investment is not all that difficult for a newbie not to grap and be in the right direction in term of investment approach to use and timeframe for the Bitcoin accumulation maturity. All that is required to gain the knowledge is learning and this can also be done while the Investor is already accumulating.

[Primark]

<<<

<<<

Knowledge is no doubt important but I think the  most important thing someone need before they start buying bitcoin is discretionary income, because with discretionary income you know you extra money left after you might taken care of all basic need that you invest with and hold for long without fear.

And don't forget it only involves risk if you buy bitcoin not using discretionary income but with money meant for essential needs.

What you mentioned is also part of the knowledge that everyone who wants to invest in Bitcoin should have first. This means that a higher level of knowledge before directly acquiring income is the most important thing that everyone must have in mind, because many people are reckless enough to invest even though they themselves don't have sufficient knowledge about how to invest long-term.

So, investment knowledge should remain the first priority, supported by capital generated through business or our own monthly income, or capital that can be used directly for investment after meeting basic living needs. That is why I never ignore knowledge because it is like a guide in life because without it it will always be easier to suffer losses because the path and method are not clear or more often wrong when executing by guessing or feeling.

Making knowledge the most important thing before you start buying Bitcoin can create an unnecessary barrier for beginners. It is not mandatory to have all the knowledge at the beginning of investing. If someone has real discretionary income after covering all their expenses, then they can start without hesitation. Because there is still room to learn even after starting, so acquiring additional knowledge should not be an excuse. If someone has $50 of discretionary income, their first purchase can be $10 or $20 or any other small amount that suits their situation. This allows them to start at the same time and continue learning about Bitcoin.

But when you say "know enough first, invest later", the problem becomes how much is enough? In my opinion, starting with a small amount for a new investor will increase their understanding as they gain real experience managing their own cashflow.

[GIF-JOBS]

This investment knowledge you are emphasising about can still be learnt after you've kick start bitcoin accumulation. Figuring out your discretionary income require common sense ( budget your needs and whatever money that is left can be your discretionary income), it's as easy ABC. There's no need for learning anything basic, because when you buy your bitcoin ,your brain should tell you that you will need to store it properly just as you do with your local currency in a bank. It's when you begun your bitcoin accumulation, that's when you can start learning more things about bitcoin and how to safeguard your investment.

You have actually make a very good point here, this is where some of us delay their investment by bringing excuses of learning before investing, take a look at the example you bring, it is very cleared, start investing from there you will get to know more about it. The only thing that is required is discretionary income and once it has been located start your investment immediately, divide your discretionary income into three use part, part A for investment, part B for emergency funds and part C for your discretionary consumption, after getting all this, you increase your investment when you have increase in your income or in your discretionary income, so that you continue to accumulate more bitcoin.

It's doesn’t even take too long to know how to buy Bitcoin so if someone has the discretionary income available i see no reason why the person should be waiting to learn everything before buying, Bitcoin is complex cause the technical aspect of it is also involved which could take a while to be understood.
 So instead of waiting long enough to understand it completely starting with the discretionary income available is more better for a beginner, then with time the person would catch up with the important things that's needed to be known. Afterall, "practice makes perfect".

The process of starting to buy Bitcoin is easy, we can start investing in Bitcoin very easily, but the main thing is to maintain your stability towards your goals, as well as to keep your portfolio safe, and to prepare yourself financially and mentally for any emergency situation. However, you do not have to prepare all these things before investing, but you will prepare everything after you start investing.
There is no need to sit around for years waiting to learn everything perfectly, but start with small amounts of extra money and learn through practical experience. This will also give you practical experience and both knowledge and confidence will increase over time, and the most important thing is that your investment will also be ongoing. That is, you can learn Bitcoin well while continuing your investment and create an emergency fund for financial security while continuing to invest, so it will not hold you back in any way.