JJG’s Outline of Bitcoin Investment Ideas

[Silikiem]

All this shouldn’t be complicated. If you are interested in bitcoin, all you have to do get yourself to be familiar with the basic concept. Then learn how to make good use of custodial  (buying) and your noncustodial (for storing ).

Then you can start with any amount you can afford at the moment, that won’t affect your emergency funds and backup funds allocation. With enough back up funds those that always have the urges to buy the dip , don’t need to wait for the dip before they start accumulating. They can literally save some backup funds to buy the dip .

You don’t have to be Rigid towards your bitcoin investment. As an investor you have to flexible in order to adopt to any situation or condition. Sometimes your inflow might reduce and you won’t have to reduce your accumulation amount what you will just have to do is to make some adjustments in your spending to adopt .

You’re right but I still think that newbies can start buying and Investing in bitcoin once they have a discretionary income available even without learning about custodial or non custodial. What other basic concepts are you trying to proclaim that newbies should get themselves familiar with before they can start investing in bitcoin. For me it sounds more like they are likely going to enroll in some lessons before they could learn the basic concepts meanwhile they can actually start to invest when they have a discretionary income available for them to start buying bitcoin. If the discretionary income is ready then they should start and along the line they will be able to learn more and familiarize themselves with the investment through their experience while accumulating bitcoin and hold.

Learning about custodial and non custodial can equally come later also when they have started buying bitcoin, newbies cannot necessarily know about custodial or non custodial before they can start, with the common sense of having to get a discretionary income then they can go ahead to start buying their first bitcoin at least and along the line start learning and acquaint themselves about their bitcoin security and privacy of using a non custodial to store their bitcoin.

[samadam007]

All this shouldn’t be complicated. If you are interested in bitcoin, all you have to do get yourself to be familiar with the basic concept. Then learn how to make good use of custodial  (buying) and your noncustodial (for storing ).

Then you can start with any amount you can afford at the moment, that won’t affect your emergency funds and backup funds allocation. With enough back up funds those that always have the urges to buy the dip , don’t need to wait for the dip before they start accumulating. They can literally save some backup funds to buy the dip .

You don’t have to be Rigid towards your bitcoin investment. As an investor you have to flexible in order to adopt to any situation or condition. Sometimes your inflow might reduce and you won’t have to reduce your accumulation amount what you will just have to do is to make some adjustments in your spending to adopt .

What basic concept of Bitcoin does a beginner have to learn first that is more important than figuring out his discretionary income and kickstarting his accumulation journey immediately? From the beginning to the end of your post is vague.

Obviously you don’t know that emergency funds is a type of backup fund. You seem to be separating the two. So if you’re saying folks should save some “backup funds” to buy dip(that may or may not come). You’re indirectly encouraging them to buy dips with emergency fund.

Maybe you wanted to say reserve fund? It is also a type of backup fund; but flexible unlike emergency fund. You can buy dips with it and also use it to take care of emergencies before tapping from your real emergency savings if it is not enough.

[Umulala-alala]

Sure you can start without emergency funds at the beginning because as you start buying Bitcoin you can as well begin keeping emergency funds but not waiting until a good amount of Bitcoin is first accumulated, waiting until you accumulate a good amount of Bitcoin can become a temptation that might or will lead to selling your Bitcoin asset too soon. Any investor waiting to have good amount of Bitcoin before starting to keep emergency funds is actually a big joker.

People who overlook their emergency fund would likely disrupt their investment on the long run, the emergency fund shouldn't be bargained, although it doesn't stop an investor from starting, in the sense that the person shouldn't wait to finish building an emergency funds before investing because it can be built together with the investment.
 It has an important role to play which is why it should be take more seriously so when the purpose of having it intact occurs, the investor won't disrupt his/her investment to solve the problem. The biggest jokers are those who end up using their emergency funds to buy dip.

All this shouldn’t be complicated. If you are interested in bitcoin, all you have to do get yourself to be familiar with the basic concept. Then learn how to make good use of custodial  (buying) and your noncustodial (for storing ).

Then you can start with any amount you can afford at the moment, that won’t affect your emergency funds and backup funds allocation. With enough back up funds those that always have the urges to buy the dip , don’t need to wait for the dip before they start accumulating. They can literally save some backup funds to buy the dip .

You don’t have to be Rigid towards your bitcoin investment. As an investor you have to flexible in order to adopt to any situation or condition. Sometimes your inflow might reduce and you won’t have to reduce your accumulation amount what you will just have to do is to make some adjustments in your spending to adopt .

you must not have enough back up funds before you can start accumulating bitcoin. Buying the dip should not be used as the main strategy for buying bitcoin because it involves waiting and which isn't good for someone that still trying to build their portfolio in bitcoin.
I think for someone that is just starting the most important thing is if they can be able to figure out their discretionary income and not waiting to learn or know how to used custodial or non custodial wallet. Also it is good to invest based on our financial situation to avoid using money that is meant for our basic needs and putting ourselves into financial pressures. Sometimes we may end up selling at loss because we have invested money that isn't our discretionary income.

Those who has their back up funds such as reserve funds can buy more bitcoin during the dip while those who don't also have doesn't have to kill them self over nothing, anybody who isn't buying consistently and then wait for the dip to buy more isn't doing themselves good they are only delaying their investment progress. With the dca strategy and some available discretionary income an investor can start buying gradually without waiting for the dip and then probably buy more during the dip if there are such reserve funds.

[Sammysmart001]

I think for someone that is just starting the most important thing is if they can be able to figure out their discretionary income and not waiting to learn or know how to used custodial or non custodial wallet.

As a newbie trying to learn almost everything about hardware wallet and seed phrases before deciding to buy their first $10 of Bitcoin, they will end up overwhelmed and never start. The only requirement needed is for you to sort out your discretionary income.

For a start you can buy little amount from an exchange first and then gradually as time goes you take your time to learn how non custodial wallets works before moving to self custody. Perfect knowledge is being beaten by action cause if you should want to wait until you know it all, you are going to continue to wait forever.
 

[Son Of Blockchain (SOB)]

Those who has their back up funds such as reserve funds can buy more bitcoin during the dip while those who don't also have doesn't have to kill them self over nothing, anybody who isn't buying consistently and then wait for the dip to buy more isn't doing themselves good they are only delaying their investment progress. With the dca strategy and some available discretionary income an investor can start buying gradually without waiting for the dip and then probably buy more during the dip if there are such reserve funds.

Many dips would still happen in the future so not being able to seize an opportunity in a particular one is not the end of the world but some people can't quite being opportunists and would end up using the wrong funds to buy dips and complicate the investment along the line, it's even worst than waiting for the dip.
 Although waiting for the dip is never a good strategy cause it gives room for procrastination and wrong market timing, the market is unpredictable and no one can tell the exact price it would drop before recoverin.