JJG’s Outline of Bitcoin Investment Ideas

[Riginac111]

Why should newbies be learning about how to making withdrawals before kickstarting their accumulation journey. Various folks come here to learn, so it wouldn't be nice when you try to complicate the requirements for investment, whereas making withdrawals is less important as far as basic knowledge is concerned.. FYI, once folks have known where to buy and they have their discretionary income handy, then I don't see why they cannot just get started already.. And since Bitcoin investment is a long termed, there is literally enough time for investor to gradually learn while they are in the process of their investments... Infact, learning and investing as the same time make the whole learning process more easier, since you are physically experiencing what you are learning, you could call it --Empirical Learning...

Newbies does not need to know much before they can accumulate to their investment, if you're accumulating, what is important for you to know, is how to keep to a privacy, and how to put your investment in a safer place were you can store your bitcoin without misplacing it, withdrawal is not that important for someone who wants to accumulate, if you want to learn of bitcoin before holding a bitcoin, two days time is due for you to understand the basic things about bitcoin, you must not learn everything in one day or wait until you learn everything and understand before investing

[Different patterns]

One of the most important thing about investment is to clearly define the objectives of your investments, know exactly what you want to achieve through your investment, know where you are heading to. Your objectives will point out to your obligations and you will be able to know and also understand your purpose as an investor. Discipline investor focus solely on their investment objectives by managing risks carefully and following a clear and accurate investment plan. Some people think that long-term investment is equivalent to long-term wealth building, which is not. Long-term investment and long-term wealth building are two different things, long-term investments can guarantee wealth building, but having last long wealth required more than just holding for years. Investment holding is just the key to pin down your investment but the growth and benefits of your investments lies on proper management, (by managing risks carefully, being patient and handling every changes that occur with caution without allowing your emotions to affect your decisions).

I personally agree with all you mentioned. All you said is very important aspect of investment. but a lot of people these days overlook it as having a goal is not enough, and one thing about investment is that two people can invest the same amount of money into investments for the same year, count the number of years spend in investment together and still end up with something different.  “different results” just because their decision alone the way are completely different. I also believe that successful investing is all about build what you can stick with, at least you have plans where you are heading to, because opportunities will come and move forward. At times the best advantage for investors is to being able to stay consistent and always avoid bad decisions.

[Abbatty]

Why should newbies be learning about how to making withdrawals before kickstarting their accumulation journey. Various folks come here to learn, so it wouldn't be nice when you try to complicate the requirements for investment, whereas making withdrawals is less important as far as basic knowledge is concerned.. FYI, once folks have known where to buy and they have their discretionary income handy, then I don't see why they cannot just get started already.. And since Bitcoin investment is a long termed, there is literally enough time for investor to gradually learn while they are in the process of their investments... Infact, learning and investing as the same time make the whole learning process more easier, since you are physically experiencing what you are learning, you could call it --Empirical Learning...

Spot on, I see now reason why someone who is intending to hold for a period of 5, 10 year or even more want to learn how to withdraw, it very unnecessary from the beginning. And I still get your point on investing while learning. No one will put his/her hard earned money into something and be lazing about, so if these will give them the zeal to about things like Gas fee, network congestion and so much About their investment.

So for a newbies you should know you don’t need to learn about withdrawals before kick starting your journey but it can be among your learning process after investing.

[SmartCharpa]

Let's stop making it sound as if without having a good knowledge on bitcoin, you wouldn't succeed in your bitcoin investment when you have a long time to buy and accumulate bitcoin and still learn at the same time. Provided you are a long term investor and wouldn't think of selling any part of your bitcoin in your accumulation stage and you're only buying with part of your discretionary income, you wouldn't regret it.

Nobody is making it sound as if it’s very important to have everything perfect before investing in Bitcoin. But there is some things we need to understand before putting our money into it. An investor needs to understand that Bitcoin price can rise and fall easily. So everyone should invest with the money they can afford to lose, nobody should risk investing outside their discretionary income. Sure, investor will not regret investing for a long time. Bitcoin is not about looking for quick profit, and using a simple strategy like DCA, you can fixed an amount to invest weekly instead of trying to predict the market.

Even though someone chose to understand everything perfect, there’s no way they can understand it without investing. You need to invest and experience what others Bitcoin holders feel when they are holding bitcoin, how do you feel when the price is rising, and how do you react when the market is going down? You can only understand this when investing.

[SPIDERMAN008]

Why should newbies be learning about how to making withdrawals before kickstarting their accumulation journey. Various folks come here to learn, so it wouldn't be nice when you try to complicate the requirements for investment, whereas making withdrawals is less important as far as basic knowledge is concerned.. FYI, once folks have known where to buy and they have their discretionary income handy, then I don't see why they cannot just get started already.. And since Bitcoin investment is a long termed, there is literally enough time for investor to gradually learn while they are in the process of their investments... Infact, learning and investing as the same time make the whole learning process more easier, since you are physically experiencing what you are learning, you could call it --Empirical Learning...

Spot on, I see now reason why someone who is intending to hold for a period of 5, 10 year or even more want to learn how to withdraw, it very unnecessary from the beginning. And I still get your point on investing while learning. No one will put his/her hard earned money into something and be lazing about, so if these will give them the zeal to about things like Gas fee, network congestion and so much About their investment.

So for a newbies you should know you don’t need to learn about withdrawals before kick starting your journey but it can be among your learning process after investing.

A person will not decide to invest tomorrow after hearing the word bitcoin today. Rather, he will do more research on this . You will not find someone who just learned about bitcoin and started investing later. Rather, those who invest in bitcoin take some time. Because they are completely new at that time. And it will not take so much time to know how to buy bitcoin, the security of the wallet, how to transfer from exchange to wallet, how to back up the seed phrase in some way that time and opportunity will be wasted to invest in bitcoin. And the issue of withdrawal is also part of this basic knowledge. So these things are not unnecessary. And not much time is wasted to know these things. Rather, after knowing these things, an investor becomes interested in bitcoin.

So before investing, a person already learns this basic knowledge, he may learn out of curiosity. Because if someone invests in any asset completely blindly, it will not be logical . And buying Bitcoin, getting a wallet address, and practicing transferring from exchange to wallet with a small test transaction and withdrawing are not a huge academic subject that requires delaying investment for a few years.

[ejikeme24]

~snip~

Spot on, I see now reason why someone who is intending to hold for a period of 5, 10 year or even more want to learn how to withdraw, it very unnecessary from the beginning. And I still get your point on investing while learning. No one will put his/her hard earned money into something and be lazing about, so if these will give them the zeal to about things like Gas fee, network congestion and so much About their investment.

So for a newbies you should know you don’t need to learn about withdrawals before kick starting your journey but it can be among your learning process after investing.

Even though a person would learn about how to make withdraw but that should be after which they have achieve their investment target or maybe, during the middle of their accumulation journey, not when they literally had nothing in their portfolio. because learning about withdraw in that stage is like a mix of priority. I frequently suggest that instead of a beginner to give priority on this aspect of withdrawal they should be more worried about the security of their investment even though learning about the security of their investment is more of technical but it's better off than giving priority to something that doesn't matter  and / or unnecessary for the main time.

[Ojima-ojo]

Let's stop making it sound as if without having a good knowledge on bitcoin, you wouldn't succeed in your bitcoin investment when you have a long time to buy and accumulate bitcoin and still learn at the same time. Provided you are a long term investor and wouldn't think of selling any part of your bitcoin in your accumulation stage and you're only buying with part of your discretionary income, you wouldn't regret it.

Nobody is making it sound as if it’s very important to have everything perfect before investing in Bitcoin. But there is some things we need to understand before putting our money into it. An investor needs to understand that Bitcoin price can rise and fall easily. So everyone should invest with the money they can afford to lose, nobody should risk investing outside their discretionary income. Sure, investor will not regret investing for a long time. Bitcoin is not about looking for quick profit, and using a simple strategy like DCA, you can fixed an amount to invest weekly instead of trying to predict the market.

Even though someone chose to understand everything perfect, there’s no way they can understand it without investing. You need to invest and experience what others Bitcoin holders feel when they are holding bitcoin, how do you feel when the price is rising, and how do you react when the market is going down? You can only understand this when investing.

One mentality that helps Bitcoin investors the most is to always have various streams of income I mean the amount that keeps your demands away from your Bitcoin investment, let say that you invested $5,000 into Bitcoin through DCA, you should also have other
sources that can make you look away from your recent and past Bitcoin positions.


Just like portfolio management fund's in trading, any experience traders should already know the risks that come with Bitcoin investment so for that, you must make plans for other stream of inflow of cash that can service you through the market volatilities and keeps you in stable position both in your trades or holdings.

[Charcol]

people’s thinking that investment is a something that once they’ve capital that’s all, which is why some don’t bother to seek for the knowledge whereby this knowledge is more important than even the capital. Because even though you’ve capital and don’t have the knowledge that you be able to control the investments is nothing.

I had brought up the exact point some days ago you have made in a discussion. My point was that if a person wants to be successful in investing, they need to be most patient. Sometimes the biggest strength of an investor is discipline and patience. You need money to start investing thats okay, which means you cannot make a profit with money alone. To make a profit, you need discipline in investing, including fund management.

The most important advice most experienced investors give to beginners is to be patient. Those who are successful in this area of ​​​​patience are the ones who succeed in investing. This is one of the reasons why the number of successful investors is relatively low.

Discipline and patience is a big deal and has little or nothing to do with knowledge because that you know doesn't mean you are or will be disciplined and patient. There's need to be specific when talking about investment, in Bitcoin investment, knowledge should not be overrated, it's effects is there but when you say knowledge, what is needed is basic knowledge of Bitcoin for investment to kick start, discipline and patience can then handle the rest, that's more learning that will happen over time in patience and discipline.

Patience and discipline are really important for Bitcoin investing, and knowledge is involved with these things. Because I think patience will also work when you understand why you are waiting, what you are taking a risk on, what money you are investing with. By knowledge, I do not mean complex technology, code, mining or the whole economy. When a new person has discretionary income, he will start without hesitation. In my opinion, knowledge for a new investor means knowing that the price of Bitcoin will fluctuate, understanding that quick profits from Bitcoin are not guaranteed, investing within your means. I think these can be called basic knowledge.

[Frankolala]

One mentality that helps Bitcoin investors the most is to always have various streams of income I mean the amount that keeps your demands away from your Bitcoin investment, let say that you invested $5,000 into Bitcoin through DCA, you should also have other
sources that can make you look away from your recent and past Bitcoin positions.


Just like portfolio management fund's in trading, any experience traders should already know the risks that come with Bitcoin investment so for that, you must make plans for other stream of inflow of cash that can service you through the market volatilities and keeps you in stable position both in your trades or holdings.

Having multiple source of income these days isn't that easy but not impossible which is a good way to help you continue your bitcoin accumulation overtime because inflation is on the rise overtime.

However, this is a bitcoin trade and not trading so don't bring up trading discussions here because it's the opposite of investing so that, you don't mislead newbies reading this thread to feel that trading is a good option to start your crypto journey with. No matter the huge extra amount of money you set aside in trading, you will lose it all in the long run.

This is why a brand new investor should only invest with his discretionary income and set up his emergency funds and other backup funds to prevent him from selling his bitcoin investment when it's not of his will.

[Saltysugar99]

One mentality that helps Bitcoin investors the most is to always have various streams of income I mean the amount that keeps your demands away from your Bitcoin investment, let say that you invested $5,000 into Bitcoin through DCA, you should also have other
sources that can make you look away from your recent and past Bitcoin positions.


Just like portfolio management fund's in trading, any experience traders should already know the risks that come with Bitcoin investment so for that, you must make plans for other stream of inflow of cash that can service you through the market volatilities and keeps you in stable position both in your trades or holdings.

Having multiple source of income these days isn't that easy but not impossible which is a good way to help you continue your bitcoin accumulation overtime because inflation is on the rise overtime.

However, this is a bitcoin trade and not trading so don't bring up trading discussions here because it's the opposite of investing so that, you don't mislead newbies reading this thread to feel that trading is a good option to start your crypto journey with. No matter the huge extra amount of money you set aside in trading, you will lose it all in the long run.

This is why a brand new investor should only invest with his discretionary income and set up his emergency funds and other backup funds to prevent him from selling his bitcoin investment when it's not of his will.

New investors in bitcoin investing should not buy Bitcoin with the necessary money and have such a cashflow setup that they do not have to sell bitcoin if financial problems arise.

And if I have to talk about multiple income, then my opinion is that having multiple sources of income may be good for continuing Bitcoin accumulation, but it is not a requirement. If a person's income from one income source is significantly more than his expenses, then he has discretionary income and he can accumulate Bitcoin regularly from there. Someone may have 3 income sources, but the total income barely covers his expenses. On the other hand, someone else may have so much income from a strong career that he can comfortably manage expenses, backup funds and Bitcoin accumulation. Bitcoin accumulation is mainly dependent on cashflow expenses and discretionary income.

And bitcoin should never be bought for trading.. because short-time trading is very risky. For most newcomers, it is unnecessary to take additional risk, and adding selling and rebuying while accumulating Bitcoin complicates the task of building his long-term stack. And if a newbie is already accumulating Bitcoin with limited discretionary income, then I don't think it's logical for him to try trading Bitcoin even for the experience. Because the biggest goal in the accumulation stage is usually not to make a dollar profit from every market move. The goal is to build Bitcoin quantity over time. Repeatedly the price prediction mindset leads from investing to trading.

[Itz-prisigold]

A lot of the comments here are vague and difficult to understand by someone completely new to Bitcoin who may be seeking for a way around it. To make things a little easier, we must distinguish basic knowledge from the knowledge we are discussing here so that anyone whk joins this conversation will know that what is required to get started is basic knowledge such as how  and where to buy Bitcoin and how to make withdrawals. With time they can begin to learn about self custody and other security measures that will enable them protect their investment. As they continue, they will also learn about emergency funds and other forms of measures taken to protect the investment. This pattern will give the new investor direction of his growth trajectory.

I believe that the term basic knowledge can be a little more inclusive.  While knowing where and how to purchase bitcoins is actually important, it's equally essential for a person that is planning to hold their Bitcoin for years,  to know how to manage their cashflow and invest only the money that is not needed for daily expenses.

For me, I don't think that beginner should learn everything about Bitcoin before he or she can start investing, but it is important that he or she should at least understanding that the money they want to use in accumulating Bitcoin should not be needed for important expenses.  While some of these technical details can be acquired as you gain more experience, making a sensible financial plan from the start can avoid making mistakes that might result in selling their Bitcoin at the wrong time. The more experience you have, the more you will learn.

[Obulis]

Let's stop making it sound as if without having a good knowledge on bitcoin, you wouldn't succeed in your bitcoin investment when you have a long time to buy and accumulate bitcoin and still learn at the same time. Provided you are a long term investor and wouldn't think of selling any part of your bitcoin in your accumulation stage and you're only buying with part of your discretionary income, you wouldn't regret it.

Nobody is making it sound as if it’s very important to have everything perfect before investing in Bitcoin. But there is some things we need to understand before putting our money into it. An investor needs to understand that Bitcoin price can rise and fall easily. So everyone should invest with the money they can afford to lose, nobody should risk investing outside their discretionary income. Sure, investor will not regret investing for a long time. Bitcoin is not about looking for quick profit, and using a simple strategy like DCA, you can fixed an amount to invest weekly instead of trying to predict the market.

Even though someone chose to understand everything perfect, there’s no way they can understand it without investing. You need to invest and experience what others Bitcoin holders feel when they are holding bitcoin, how do you feel when the price is rising, and how do you react when the market is going down? You can only understand this when investing.

Trying to understand everything perfect before starting Bitcoin investment is just a bit different from someone who haven't started learning because both are not holding any Bitcoin. Somehow, someone who haven't started learning can kick start investing why those trying perfect learning that is not necessary and possible are still learning. Just like the science students, learning theories without doing practicals, going to the laboratories will be like going to a strange place, so the best is while the theories are on going the practicals also gets started. In Bitcoin investment, that means getting the basics and then keep learning while on the go accumulating.

[Grease5000]

One mentality that helps Bitcoin investors the most is to always have various streams of income I mean the amount that keeps your demands away from your Bitcoin investment, let say that you invested $5,000 into Bitcoin through DCA, you should also have other
sources that can make you look away from your recent and past Bitcoin positions.


Just like portfolio management fund's in trading, any experience traders should already know the risks that come with Bitcoin investment so for that, you must make plans for other stream of inflow of cash that can service you through the market volatilities and keeps you in stable position both in your trades or holdings.

It is good to have multiple source of income, but  don't forget that bitcoin should be bought with money you can afford to leave untouched for a long time (discretionary income), not money you need to depend on for your daily life.

And one of the bigger issue is knowing what money should actually go into bitcoin in the first place. For example if  someone invests $1.000 through DCA but that money is also needed for essential bills or emergencies then having multiple streams.of income may not solve the problem because than can still be force to sell when price drop.



Having multiple streams of income is a good advantage because it keeps you from depending on  only one source. But it only works more effective when you don't buy bitcoin using the money you may need to withdraw during a market downturn. If you can separate  money needed for essential needs from your investment money which is figuring out your discretionary income, then buying bitcoin using DCA and holding for the long term growth become much easier.

[Agbam]

Let's stop making it sound as if without having a good knowledge on bitcoin, you wouldn't succeed in your bitcoin investment when you have a long time to buy and accumulate bitcoin and still learn at the same time. Provided you are a long term investor and wouldn't think of selling any part of your bitcoin in your accumulation stage and you're only buying with part of your discretionary income, you wouldn't regret it.

Nobody is making it sound as if it’s very important to have everything perfect before investing in Bitcoin. But there is some things we need to understand before putting our money into it. An investor needs to understand that Bitcoin price can rise and fall easily. So everyone should invest with the money they can afford to lose, nobody should risk investing outside their discretionary income. Sure, investor will not regret investing for a long time. Bitcoin is not about looking for quick profit, and using a simple strategy like DCA, you can fixed an amount to invest weekly instead of trying to predict the market.

Even though someone chose to understand everything perfect, there’s no way they can understand it without investing. You need to invest and experience what others Bitcoin holders feel when they are holding bitcoin, how do you feel when the price is rising, and how do you react when the market is going down? You can only understand this when investing.

One mentality that helps Bitcoin investors the most is to always have various streams of income I mean the amount that keeps your demands away from your Bitcoin investment, let say that you invested $5,000 into Bitcoin through DCA, you should also have other
sources that can make you look away from your recent and past Bitcoin positions.


Just like portfolio management fund's in trading, any experience traders should already know the risks that come with Bitcoin investment so for that, you must make plans for other stream of inflow of cash that can service you through the market volatilities and keeps you in stable position both in your trades or holdings.

Yes having multiple streams of income definitely makes it easier to invest in bitcoin but if you’re not able to afford that you can be very careful in your financial management and ensure you have the required backups available and invest only what you can afford to lose. Investing from your discretionary income gives you a certain level of control and flexibility.

Succeeding in bitcoin investment doesn’t just depend on the knowledge of the investor but in the application of that knowledge; what strategies are you practicing, how are you managing your finances, how you are securing your wallet etc.

[Cyber_warrior]

Trying to understand everything perfect before starting Bitcoin investment is just a bit different from someone who haven't started learning because both are not holding any Bitcoin. Somehow, someone who haven't started learning can kick start investing why those trying perfect learning that is not necessary and possible are still learning. Just like the science students, learning theories without doing practicals, going to the laboratories will be like going to a strange place, so the best is while the theories are on going the practicals also gets started. In Bitcoin investment, that means getting the basics and then keep learning while on the go accumulating.

I don't see much difference, they are both not holders yet so they are birds of the same feathers missing out on opportunities. This should be enough reason to know that learning to understand everything before investing is totally pointless, yes knowledge is good and useful but delaying investing is wrong and it makes the whole idea of learning first wrong.

Nothing is as valuable as owning a Bitcoin, even the knowledge you seek is useless without owning a Bitcoin so what's the point. Investing should always be top priority for every new investor since you can learn anytime you want.

[Georgewill82]

Why should newbies be learning about how to making withdrawals before kickstarting their accumulation journey. Various folks come here to learn, so it wouldn't be nice when you try to complicate the requirements for investment, whereas making withdrawals is less important as far as basic knowledge is concerned.. FYI, once folks have known where to buy and they have their discretionary income handy, then I don't see why they cannot just get started already.. And since Bitcoin investment is a long termed, there is literally enough time for investor to gradually learn while they are in the process of their investments... Infact, learning and investing as the same time make the whole learning process more easier, since you are physically experiencing what you are learning, you could call it --Empirical Learning...

Newbies does not need to know much before they can accumulate to their investment, if you're accumulating, what is important for you to know, is how to keep to a privacy, and how to put your investment in a safer place were you can store your bitcoin without misplacing it, withdrawal is not that important for someone who wants to accumulate, if you want to learn of bitcoin before holding a bitcoin, two days time is due for you to understand the basic things about bitcoin, you must not learn everything in one day or wait until you learn everything and understand before investing

[Georgewill82]

Learning withdrawal and at the same time learning Bitcoin investment process are literally nice idea to a very reasonable extent. Just the postulation of JJG's on outline of Bitcoin Investment Idea, is an educative idea to work with especially on Bitcoin investment. And investment needs quiet time and best commitment to have the needed knowledge to help escape losing capital investment rather than optimizing in profit making. So, I see that the best option should be learning the withdrawal methods before going into investment to gain at least the necessary basic knowledge of do and not in Bitcoin trading system. And if learning and investment basic knowledge are being split into categories the knowledge will appreciate and carry both task at the same time.

[oll]

Learning withdrawal and at the same time learning Bitcoin investment process are literally nice idea to a very reasonable extent. Just the postulation of JJG's on outline of Bitcoin Investment Idea, is an educative idea to work with especially on Bitcoin investment. And investment needs quiet time and best commitment to have the needed knowledge to help escape losing capital investment rather than optimizing in profit making. So, I see that the best option should be learning the withdrawal methods before going into investment to gain at least the necessary basic knowledge of do and not in Bitcoin trading system. And if learning and investment basic knowledge are being split into categories the knowledge will appreciate and carry both task at the same time.

It seems to me that you’re focusing too much on the idea of withdrawing funds. Believe me, you’ll find ways to both buy Bitcoin or earn it, and withdraw Bitcoin - although it’s better to think about that last. Why am I writing this? Because if you decide to become a truly serious and responsible (first and foremost to yourself) investor, you’ll need 4-10 years to see the full picture of your strategy and understand the meaning of truly long‑term DCA. We leave traders with the anxiety and minor periods when they are busy calculating where the bottom of Bitcoin is. But you should consider developing the ability to calculate your discretionary income and, based on that, determine how much you can invest in Bitcoin. Obviously, this is done using the DCA strategy.