JJG’s Outline of Bitcoin Investment Ideas

[alankasman]

If the permanent income stops, it is natural that the savings or emergency fund will run out at some point, so I think you should always think of an alternative job along with one job so that if one source of income stops, another source of income remains active. Many people cannot distinguish between emergency funds and investments, the difference here is clear that emergency funds are formed to be used when necessary, but investments are not intended to be sold for any urgent need, rather the purpose behind investing is long-term.

What we need to do to maintain balance and avoid depleting our savings or emergency funds is to have another job besides our permanent one. If we stick to one job when problems arise at work we will certainly dip into our savings or emergency funds as a means of support when difficult times strike. Especially if we only have one job it's very difficult to predict whether that job will sustain us in the future. So, I think I agree with you that if we leave one job, we must have another job as an alternative because we don't know whether that job will last. Therefore, it's highly advisable to pursue other activities as a supplement to our main income. This is to anticipate our main job, to protect our savings and emergency funds from being used. This is for our benefit and for the future, with these savings and emergency funds.

[Ruttoshi]

Simply buy when the price drops or use the DCA pattern as a buying step and hold your Bitcoin until it reaches the desired price which will maximize your returns.

Personally, I feel it's better to use a bitcoin target to accumulate your bitcoin in the long-term so that you don't sell at the wrong time when you haven't accumulated enough for yourself instead, of using a price target to know when to sell. This is because if you use a price target that bitcoin will reach in order for you to sell, you might still be in your early accumulation stage like in four years time and bitcoin might reach that price. That will deprieve you from your investment continuity.

It better to reach an over accumulation stage before thinking of tapping little profits and if you don't have a bitcoin target, how will you know if you have reached or close to your over accumulation stage.

Sometimes people invest without proper preparation, so in certain situations they have to sell some assets for specific needs. This is a wrong decision, as investments should be based on conceptual maturity with people fully prepared for other needs, so that the investment journey isn't disrupted simply by needing cash to meet other needs.

This is why a long-term bitcoin investor needs to set up an emergency funds and other backup funds like reserve funds and float to take care of any unexpected expenses or needs during the period that you are still accumulating. Emergency funds is very important because it's a backup to your bitcoin investment that prevents you from selling when you are hit with real life emergency.

[JayJuanGee]

Also you are right with that profit trap things what you have said since it really doesn't when Bitcoin pump this is the time they sell all they bought. Because they have they might guys lose lots of opportunity by selling it so early. That's why its important to have discipline and and better create a plan for long term about their target on when to sell then stick with it, rather then let their emotions drive then to decide to do bad short term decisions.

Simply buy when the price drops or use the DCA pattern as a buying step and hold your Bitcoin until it reaches the desired price which will maximize your returns. Investing in Bitcoin is indeed much better for the long term, so people aren't too preoccupied with market price movements. As long as we prepare properly, our investments will be much more successful. Sometimes people invest without proper preparation, so in certain situations they have to sell some assets for specific needs. This is a wrong decision, as investments should be based on conceptual maturity with people fully prepared for other needs, so that the investment journey isn't disrupted simply by needing cash to meet other needs.

In this thread we are talking about investing not trading, so there is a bit of a presumption for 10 years or longer unless a person might have age or health reasons to create a 4-10 year investment timeline.

Less than 4 years would be trading and not investing, so we are not talking about those ideas in this thread.

For anyone in their early stages of BTC accumulation, perhaps at least a whole cycle or two (unless they were able to front load their bitcoin investment), they are likely better off to just ongoingly accumulate bitcoin at any price rather than holding back much if any value for buying dips that might not happen.  Sure if they feel better to hold some back, then maybe hold back no more than 20% of their regular DCA amounts.

In other words DCA is  superior to other strategies, including buying on dips until a person starts to build up a decent size DCA that might justify adjusting strategies away from DCA and to supplement with other strategies, such as buying on dips.

Of course, anyone who runs into a situation of having lump sum amounts come available, he will have options to choose from DCA, buy right away or buy on dips in relation to those extra funds that  might come available from time to time.

Regarding your point about preparing, there is no reason to prepare in advance.  One of the most important behaviors is getting started, and you can prepare as you go.  All you need to get started investing in bitcoin are discretionary funds and common sense.

Of course anyone investing in bitcoin, is likely going to need to build up back up funds (to the extent that he does not already have some at the time that he starts investing in bitcoin) along side of his investing into bitcoin, which will help him to protect his bitcoin and not have to sell any bitcoin at a time prior to his own choosing.

[abaeze]

If the permanent income stops, it is natural that the savings or emergency fund will run out at some point, so I think you should always think of an alternative job along with one job so that if one source of income stops, another source of income remains active. Many people cannot distinguish between emergency funds and investments, the difference here is clear that emergency funds are formed to be used when necessary, but investments are not intended to be sold for any urgent need, rather the purpose behind investing is long-term.

What we need to do to maintain balance and avoid depleting our savings or emergency funds is to have another job besides our permanent one. If we stick to one job when problems arise at work we will certainly dip into our savings or emergency funds as a means of support when difficult times strike. Especially if we only have one job it's very difficult to predict whether that job will sustain us in the future. So, I think I agree with you that if we leave one job, we must have another job as an alternative because we don't know whether that job will last. Therefore, it's highly advisable to pursue other activities as a supplement to our main income. This is to anticipate our main job, to protect our savings and emergency funds from being used. This is for our benefit and for the future, with these savings and emergency funds.

In the current situation, with the increase in unemployment, it is very correct to say that keeping one job along with another is very difficult in the literal sense, but in reality it is very difficult to do it correctly, but even in this situation, one should think about the future and continue to invest for their own safety. However, emergency funds and investments are not the same thing because emergency funds are used to spend in case of danger and to keep investments for the long term, not to sell quickly, that is, not to break the investment if the market is bad or if the job is lost, instead, there should be a separate cash reserve. This is not only applicable to investing in Bitcoin but to all investments. Again, this is very important in the context of investing in Bitcoin, because many people make BTC emergency money, which is a wrong decision.

[MusaMohamed]

In other words DCA is  superior to other strategies, including buying on dips until a person starts to build up a decent size DCA that might justify adjusting strategies away from DCA and to supplement with other strategies, such as buying on dips.

Of course, anyone who runs into a situation of having lump sum amounts come available, he will have options to choose from DCA, buy right away or buy on dips in relation to those extra funds that  might come available from time to time.

DCA is superior to other strategies as with it, investors are either newbies or experienced ones can use it well and flexibly too.

DCA means no need of finding bottoms, best prices for buying bitcoin but people can apply DCA strategy with only one purpose, buying regularly and don't mind about price. While they can split their DCA fund to two parts: one part for regular DCA purchases like a first approach, and a second part for buying dips. They must have two parts if they want to buy dips as if they only have one part, that means all DCA fund for buying dips, they will fall to a trap of waiting for dips and will never buy dips.

When dips come, they will think like is it a best dip to buy bitcoin. It's not how DCA strategy works well for their Bitcoin accumulation and portfolio build.

[cxtreenal]

In this thread we are talking about investing not trading, so there is a bit of a presumption for 10 years or longer unless a person might have age or health reasons to create a 4-10 year investment timeline.

Less than 4 years would be trading and not investing, so we are not talking about those ideas in this thread.

We are discussing about investment in the trading discussion board. It is very important to sharpen the idea of ​​investment. It is logical that we should try to make a profit only after passing a normal period in investment. If someone is new to investment, he will have to spend several years in the apprenticeship period. Saving Bitcoin in the DCA method in the apprenticeship period should be only 4 years in an experience period.

After 4 years, the experience will drag that investor two more cycles towards continuous Bitcoin buying. Having knowledge about trading means that we keep ourselves away from this risky strategy. Since it will be considered trading until 4 years are completed, that is why you always recommend 4-10 years in investment. Surely long term Bitcoin is less risky than short term risky trades and provides almost equal opportunities for investors of any discretionary income.

[ruykeri]

DCA is superior to other strategies as with it, investors are either newbies or experienced ones can use it well and flexibly too.

DCA means no need of finding bottoms, best prices for buying bitcoin but people can apply DCA strategy with only one purpose, buying regularly and don't mind about price. While they can split their DCA fund to two parts: one part for regular DCA purchases like a first approach, and a second part for buying dips. They must have two parts if they want to buy dips as if they only have one part, that means all DCA fund for buying dips, they will fall to a trap of waiting for dips and will never buy dips.

When dips come, they will think like is it a best dip to buy bitcoin. It's not how DCA strategy works well for their Bitcoin accumulation and portfolio build.

You said that you will divide the investable portion of your discretionary income into two parts, investing one part in regular investments and saving the other part to buy in dips.. In fact, you are going back to that trading mentality. If you do not invest the investable part of your discretionary income and save it for buying dips in the future, then if the dip does not come in the future, you will lose the opportunity. If you had invested that money regularly, your Bitcoin accumulation would have been even higher.

Suppose you can put $200 into Bitcoin per month from your discretionary income. If you do $100 for regular DCA, and $100 for dips. Then in reality you are holding 50% of your staking power every month. Now if the market is sideways for 6-12 months or slowly goes up and you do not see enough dips, then that deposited $100 will just stay without any work there. This means that you are not accumulating the amount of BTC that you could have accumulated in those 6-12 months. You should never wait for a dip to accumulate funds. Regularly stack the investable portion of your discretionary income because that is the main point of accumulation. If you save that main portion for the dip, you will fall into the trap of market timing and end up accumulating less bitcoin.

[Gost ms]

We are discussing about investment in the trading discussion board. It is very important to sharpen the idea of ​​investment. It is logical that we should try to make a profit only after passing a normal period in investment. If someone is new to investment, he will have to spend several years in the apprenticeship period. Saving Bitcoin in the DCA method in the apprenticeship period should be only 4 years in an experience period.

After 4 years, the experience will drag that investor two more cycles towards continuous Bitcoin buying. Having knowledge about trading means that we keep ourselves away from this risky strategy. Since it will be considered trading until 4 years are completed, that is why you always recommend 4-10 years in investment. Surely long term Bitcoin is less risky than short term risky trades and provides almost equal opportunities for investors of any discretionary income.

You may be confused about the differences between investing and trading. Because what you are expressing is completely moving towards trading. To invest we do not have to learn much or even for several years. If a person has basic knowledge about Bitcoin and a source of discretionary income then he can start investing and after starting investing a person can gradually learn everything. A person does not need experience to invest.

Bitcoin is very risky, you can never tell in advance whether you will profit or face loss from Bitcoin. But yes, the chances of profiting in long-term investment in Bitcoin are much higher.

Sometimes a portfolio of 4 to 6 years can be considered as trading, it is completely dependent on their portfolio and holding period.

[JayJuanGee]

In this thread we are talking about investing not trading, so there is a bit of a presumption for 10 years or longer unless a person might have age or health reasons to create a 4-10 year investment timeline.

Less than 4 years would be trading and not investing, so we are not talking about those ideas in this thread.

We are discussing about investment in the trading discussion board. It is very important to sharpen the idea of ​​investment. It is logical that we should try to make a profit only after passing a normal period in investment. If someone is new to investment, he will have to spend several years in the apprenticeship period. Saving Bitcoin in the DCA method in the apprenticeship period should be only 4 years in an experience period.

After 4 years, the experience will drag that investor two more cycles towards continuous Bitcoin buying. Having knowledge about trading means that we keep ourselves away from this risky strategy. Since it will be considered trading until 4 years are completed, that is why you always recommend 4-10 years in investment. Surely long term Bitcoin is less risky than short term risky trades and provides almost equal opportunities for investors of any discretionary income.

It seems to me that every time that you decide to put more money into bitcoin it attaches another 4-10 year timeline in order for that new money to be investing rather than trading.

So if you have been investing for more than 2 years, then the older quantities of your bitcoin buys will cross over the 4 year threshold, and your mor recent purchases have a 4-10 year or longer timeline attached to them in order to be with an intention to invest rather than trade.

And, yeah, if we had been investing for 10 years, then we may well have 6 years of purchases that are older than 4 years, and if we are still ongoingly buying bitcoin, our more recent purchases that took place in the last 4 years would not have had crossed over their 4 year timeline.

In the end, we figure out our own constraints and the extent to which we are striving to hold on bitcoin as an investment or as a trade.

I have no problem with spending bitcoin and spend and replace, and surely guys have to figure out for themselves how far along they are in their bitcoin accumulation journey and if at some point they are graduating to more of a maintenance phase rather than accumulation phase, and how they consider where they are at (which likely relates to how many bitcoin they had already accumulated), then how they deal with managing their bitcoin holdings in maintenance phase is likely going to be different from how they managed their bitcoin holdings in their earliest of stages of bitcoin accumulation. 

If guys mistake their stage they may well end up making errors in their management of their bitcoin holdings.

DCA is superior to other strategies as with it, investors are either newbies or experienced ones can use it well and flexibly too.

DCA means no need of finding bottoms, best prices for buying bitcoin but people can apply DCA strategy with only one purpose, buying regularly and don't mind about price. While they can split their DCA fund to two parts: one part for regular DCA purchases like a first approach, and a second part for buying dips. They must have two parts if they want to buy dips as if they only have one part, that means all DCA fund for buying dips, they will fall to a trap of waiting for dips and will never buy dips.

When dips come, they will think like is it a best dip to buy bitcoin. It's not how DCA strategy works well for their Bitcoin accumulation and portfolio build.

You said that you will divide the investable portion of your discretionary income into two parts, investing one part in regular investments and saving the other part to buy in dips.. In fact, you are going back to that trading mentality. If you do not invest the investable part of your discretionary income and save it for buying dips in the future, then if the dip does not come in the future, you will lose the opportunity. If you had invested that money regularly, your Bitcoin accumulation would have been even higher.

Suppose you can put $200 into Bitcoin per month from your discretionary income. If you do $100 for regular DCA, and $100 for dips. Then in reality you are holding 50% of your staking power every month. Now if the market is sideways for 6-12 months or slowly goes up and you do not see enough dips, then that deposited $100 will just stay without any work there. This means that you are not accumulating the amount of BTC that you could have accumulated in those 6-12 months. You should never wait for a dip to accumulate funds. Regularly stack the investable portion of your discretionary income because that is the main point of accumulation. If you save that main portion for the dip, you will fall into the trap of market timing and end up accumulating less bitcoin.

Personally, I think that it is better for guys to just invest regularly and if they hold back for dips, then they might want to limit that portion to only 20% rather than your accusation that MusaMohamed might be holding back 50%.  Of course if the dip is not perceived to be enough, then after 6 months, the held back amount would be $600 and after 12 months it would be $1,200, which seems a bit much, but guys are free to do what they like and guys do seem to get pleasure out of buying dips, even if setting up too much expectations to buy dips may well put them into a less preferrable mindset in regards to how serious they are in terms of prioritizing bitcoin accumulation.

[alankasman]

In the current situation, with the increase in unemployment, it is very correct to say that keeping one job along with another is very difficult in the literal sense, but in reality it is very difficult to do it correctly, but even in this situation, one should think about the future and continue to invest for their own safety. However, emergency funds and investments are not the same thing because emergency funds are used to spend in case of danger and to keep investments for the long term, not to sell quickly, that is, not to break the investment if the market is bad or if the job is lost, instead, there should be a separate cash reserve. This is not only applicable to investing in Bitcoin but to all investments. Again, this is very important in the context of investing in Bitcoin, because many people make BTC emergency money, which is a wrong decision.

Therefore I am discussing here about work. Sometimes there are solutions that we can take with the goals as we mentioned earlier. Currently with the various situations experienced by everyone of course we have to think a lot when the current job is no longer so popular to get a job. So with the limited vacancies we get maintaining one job will be better than having to look for new sensations for the reason that sometimes the income received by someone when working in one place is weak. This does not mean that you cannot find other jobs as an alternative but what we limit in maintaining one place is the aim to remain existing rather than having no activities at all. Of course we first enjoy what is there. This does not mean we are lazy in adding work but there are things that we must endure for the reason of continuing to meet needs even with one place of work.

Logically we must need the emergency fund because we will need the fund when our income position when the cost of spending every need exceeds the target of course the fund is a tool to help us when experiencing a bad situation even though our goal is basically the emergency fund as money that we will invest even though sometimes with a small nominal but for our daily needs it is enough with the income we earn from our place of work so I think it is very natural that having an additional job will make us stronger in investing in Bitcoin by accumulating BTC for our future level.

[JayJuanGee]

In the current situation, with the increase in unemployment, it is very correct to say that keeping one job along with another is very difficult in the literal sense, but in reality it is very difficult to do it correctly, but even in this situation, one should think about the future and continue to invest for their own safety. However, emergency funds and investments are not the same thing because emergency funds are used to spend in case of danger and to keep investments for the long term, not to sell quickly, that is, not to break the investment if the market is bad or if the job is lost, instead, there should be a separate cash reserve. This is not only applicable to investing in Bitcoin but to all investments. Again, this is very important in the context of investing in Bitcoin, because many people make BTC emergency money, which is a wrong decision.

Therefore I am discussing here about work. Sometimes there are solutions that we can take with the goals as we mentioned earlier. Currently with the various situations experienced by everyone of course we have to think a lot when the current job is no longer so popular to get a job. So with the limited vacancies we get maintaining one job will be better than having to look for new sensations for the reason that sometimes the income received by someone when working in one place is weak. This does not mean that you cannot find other jobs as an alternative but what we limit in maintaining one place is the aim to remain existing rather than having no activities at all. Of course we first enjoy what is there. This does not mean we are lazy in adding work but there are things that we must endure for the reason of continuing to meet needs even with one place of work.

In many cases, extra income streams from work is not necessarily a good substitute for creating, building and maintaining back up funds.

Sure extra work can increase your discretionary income and it can also give you funds to increase your bitcoin investment, your back up funds and/or your consumption..  yet if you are spending all the extra on investment and consumption and your back up funds are not high enough then you could still end up getting in trouble.. especially if you end up having an inability to work any of your jobs and you don't have sufficient back up funds or other sources, where you are able to get back up money in those cases where your income dries up and/or your expenses go up too.

Logically we must need the emergency fund because we will need the fund when our income position when the cost of spending every need exceeds the target of course the fund is a tool to help us when experiencing a bad situation even though our goal is basically the emergency fund as money that we will invest even though sometimes with a small nominal but for our daily needs it is enough with the income we earn from our place of work so I think it is very natural that having an additional job will make us stronger in investing in Bitcoin by accumulating BTC for our future level.

Guys have to figure out a balance that works for them and also if they end up screwing up, then they are going to end up paying the cost for their screwing things up.. so it is not a good place to be if the balances are chosen badly and then he does not have enough back up funds to protect his bitcoin from being tapped into at a time that is not of his choosing.

[alankasman]

In many cases, extra income streams from work is not necessarily a good substitute for creating, building and maintaining back up funds.
Sure extra work can increase your discretionary income and it can also give you funds to increase your bitcoin investment, your back up funds and/or your consumption..  yet if you are spending all the extra on investment and consumption and your back up funds are not high enough then you could still end up getting in trouble.. especially if you end up having an inability to work any of your jobs and you don't have sufficient back up funds or other sources, where you are able to get back up money in those cases where your income dries up and/or your expenses go up too.

This explanation may not need me to continue the question further because your answer has made me understand enough about the issue you mentioned about additional income from work not necessarily being a good substitute for creating, building, and maintaining a backup fund. I appreciate your explanation. Thank you

I see this based on my income so I'm boldly expressing it here. Perhaps you can explain it and perhaps I can do it better. For me even if we work hard and only stick to one place it's very difficult to invest in Bitcoin because our income is only enough to support our family. Therefore I think it's appropriate for friends who feel the same way I do. It's better to postpone investing for the future because we need it for our daily needs. This doesn't mean we're not interested in investing. Essentially we want it but with limited income sources investing feels difficult unless we have activities that provide some support. If that happens to me I'd be proud to immediately invest by accumulating as much BTC as possible whenever there's income outside of family needs. We know our Bitcoin investment is only for us especially if we're investing long-term. We've prepared for our future by implementing a DCA strategy to accumulate BTC.

[ndutndut]

~snip~

You're right, Rich folks don't necessarily have to build emergency fund that will serve as protection for they bitcoin investment because they have assets which they can rely on to bail them out of any emergency situation. Even if an average investors have rich pals they could rely on is not enough reason why they shouldn't build emergency fund as friends may disappoint when they needed. Average or low income earnings shouldn't skip building their emergency fund because they have rich friends,they should build they emergency fund alongside their investments because it is the only reliable way to ensure the protection of their bitcoin investment from emergencies.

It depends on the kind of asset that the rich person is holding... Not all assets are a reliable safety net in cases of emergency... For example folks who are into real estate or other long term investment such an investment may not be quickly or be easily convertible to cash when urgent cash is needed for an emergency... Some rich folks are also victims of situations where their asset may not be easily accessible to solve an emergency..This is why everyone, both the rich and the poor, should always keep their emergency funds in a liquid form, to ensure easier access...

Wealthy people typically have significant monthly income, whether from business or other sources, that can serve as an emergency fund. I believe many wealthy individuals store their emergency funds in gold because its price is stable, even tending to rise and it's easy to convert to fiat currency when urgent needs arise.

Emergency funds are essential for every investor, but the choice of how to store them varies some store them in fiat currency, while others store them in gold. Of the two it's better to store your emergency funds in gold as fiat currency, as we know has no value and will lose its value.

[B2Z]

In the current situation, with the increase in unemployment, it is very correct to say that keeping one job along with another is very difficult in the literal sense, but in reality it is very difficult to do it correctly, but even in this situation, one should think about the future and continue to invest for their own safety. However, emergency funds and investments are not the same thing because emergency funds are used to spend in case of danger and to keep investments for the long term, not to sell quickly, that is, not to break the investment if the market is bad or if the job is lost, instead, there should be a separate cash reserve. This is not only applicable to investing in Bitcoin but to all investments. Again, this is very important in the context of investing in Bitcoin, because many people make BTC emergency money, which is a wrong decision.

Therefore I am discussing here about work. Sometimes there are solutions that we can take with the goals as we mentioned earlier. Currently with the various situations experienced by everyone of course we have to think a lot when the current job is no longer so popular to get a job. So with the limited vacancies we get maintaining one job will be better than having to look for new sensations for the reason that sometimes the income received by someone when working in one place is weak. This does not mean that you cannot find other jobs as an alternative but what we limit in maintaining one place is the aim to remain existing rather than having no activities at all. Of course we first enjoy what is there. This does not mean we are lazy in adding work but there are things that we must endure for the reason of continuing to meet needs even with one place of work.

Logically we must need the emergency fund because we will need the fund when our income position when the cost of spending every need exceeds the target of course the fund is a tool to help us when experiencing a bad situation even though our goal is basically the emergency fund as money that we will invest even though sometimes with a small nominal but for our daily needs it is enough with the income we earn from our place of work so I think it is very natural that having an additional job will make us stronger in investing in Bitcoin by accumulating BTC for our future level.

Thank you for creating this post in line with reality. You can't think unrealistically about Bitcoin, many people have the misconception that if they have Bitcoin, they don't need anything else, such as job savings or anything else, but this is a wrong idea. If you don't have a source of income and don't have a little emergency fund, then investing in Bitcoin will be messy. Because people need money to live and if a person doesn't have a source of income and only has Bitcoin, he won't be able to survive without money for a long time, which may lead him to decide to sell Bitcoin later. Bitcoin is not a magic solution, I started investing in Bitcoin, and I started getting a lot of money from it, so we must come out of this misconception and find multiple sources of work for ourselves because when we have money in hand, we will have more investment opportunities after meeting all our needs, in this way we can take our investment to a good level.

For anyone in their early stages of BTC accumulation, perhaps at least a whole cycle or two (unless they were able to front load their bitcoin investment), they are likely better off to just ongoingly accumulate bitcoin at any price rather than holding back much if any value for buying dips that might not happen.  Sure if they feel better to hold some back, then maybe hold back no more than 20% of their regular DCA amounts.

At the beginning of investment, many people are confused that the price of Bitcoin may fall further than the level at which they will buy Bitcoin and they wait for it, but later, if the market does not go down as expected, they do not invest anymore and their investment journey ends there. What I mean is that one should not always wait for a low price, one should start investing from the level at which the price is. The price of Bitcoin should never be considered as the highest price, Bitcoin has broken many records before, so it can be assumed that Bitcoin will go to a better level from here. Therefore, the best and most effective strategy for investment can be DCA. In this strategy, Bitcoin is usually purchased regularly, which means that the price may increase or decrease, but we never miss out on our investment opportunity. In DCA investment, price does not matter, but time matters here.

In other words DCA is  superior to other strategies, including buying on dips until a person starts to build up a decent size DCA that might justify adjusting strategies away from DCA and to supplement with other strategies, such as buying on dips.

The DCA investment strategy is definitely more effective than other strategies because with this one strategy, all types of people can think about investing very easily and they can invest according to their own capabilities. Before learning about this strategy, I had this idea about investing that I might have to accumulate a lot of money to invest first and then I would have to invest with that money. I was not always successful in accumulating money because I had to spend my saved money for many financial needs, but since learning about the DCA investment strategy, now I do not have to save money separately and invest later, but I buy Bitcoin with a certain amount of money step by step according to a plan and it is much easier and stress-free.

Of course, anyone who runs into a situation of having lump sum amounts come available, he will have options to choose from DCA, buy right away or buy on dips in relation to those extra funds that  might come available from time to time.

Regarding your point about preparing, there is no reason to prepare in advance.  One of the most important behaviors is getting started, and you can prepare as you go.  All you need to get started investing in bitcoin are discretionary funds and common sense.

If a person suddenly gets a lot of money, then he has to use that money very smartly. In this case, there is actually nothing specific to say what he will do with all that money and this decision will depend entirely on him.
However, if he can keep the money in the account and invest it consistently, then it will be good for him, I said this because for many people, when money comes, they cannot keep that money for a long time, but rather spend it on various needs, so if there is no possibility of spending it, then that person can follow the DCA strategy if he wants.

Theoretical knowledge will not be of any use if we do not put that theoretical knowledge into practice. If everything was done by rote knowledge, then the practical or lab classes of big engineering universities would not be taken so seriously. Our problem is that we want to be absolutely perfect and then get involved in investment, but until we get involved in investment, we will not be able to know many internal aspects of investment, so there is no need to be absolutely perfect to start investing, rather we should start investing with some ideas and gradually move forward with experience and strategy.