JJG’s Outline of Bitcoin Investment Ideas

[abaeze]

It is not a good idea for anyone to wait for a desire dip because they may end up waiting in vain since  it is not possible to predict the price of bitcoin perfectly. Anyone that is waiting and speculating for the price to bitcoin to fall to $20k before they start buying or continue with there bitcoin accumulation is making a big mistake. Who ever is thinking that the market will go as they have expected and decided to have a fixed price in there head they may as well wait in vain .

Besides the inappropriateness of waiting for a Bitcoin price drop for those looking to buy, sometimes people's confidence in buying after seeing the price drop doesn't immediately increase, as the fear of buying when the price has already dropped is clearly inherent in those who like to wait. So, while you still have the courage to buy at the current price, it's better to do so immediately without wasting time waiting, as even when market conditions worsen, someone's confidence may not immediately increase.

You can make any equation that investors who wait for the price to drop will be reluctant to buy at their expected price because they are more afraid when the price drops. Some investors will not buy during a down rally no matter how much you advise them. The current price trend is such that there is a period of time when the price of Bitcoin is likely to fall or rise.
The best time to buy Bitcoin is when you have available funds. The best time to accumulate Bitcoin is when you have discretionary income and are in a position to mentally secure it.

You are exactly right but I would add that the best time to invest in Bitcoin is when you have a reasonable income, there is no need to look at the price. That is, instead of trying to catch the perfect price or dip price of the market, you should slowly buy Bitcoin with that fund when you have extra money. That is, there is no need for price timing, but the most important thing is to start.

So I agree with those who invest according to these points. Honestly, your financial and mental preparation determines the best time to buy Bitcoin, the market never determines it. In short, the most effective thing to successfully accumulate Bitcoin is to start investing when you have extra funds without predicting the price and continue to collect Bitcoin regularly with long-term faith.

[Merit.s]

You are exactly right but I would add that the best time to invest in Bitcoin is when you have a reasonable income, there is no need to look at the price.

I don't understand what you mean that a brand new investor should have reasonable income before he should start investing inti bitcoin. What really matters is a discretionary income because what is a reasonable income to you might not be reasonable to someone else.

It's when you have your discretionary, that's the best time to invest because if you want to be waiting for a reasonable income, you might end up waiting and not invest at all. You don't need much money before you can start your bitcoin investment. If you discretionary income is as little as $10 and above you good to startup and DCA overtime. While, you keep looking for other means to increase your income so that, you will be able to increase your DCA amount since your discretionary will also increase. What really matters is your consistent and persistent ongoingly bitcoin accumulation and not the amount that you are using to DCA.

However, some investors might become more serious to increase their income when they have started their bitcoin investment because it will motivate them to get more money and buy more and be consistent with their DCA which is why it's good to get started first provided that you have a discretionary income and not a reasonable income.

[Joeboy]

Part of the problem with waiting is that there is no guarantee that the BTC price will go lower than what it currently is at.  In the last 24 hours, the BTC price has been bouncing between 65,130 and $68,207.  There is no guarantee that BTC prices will ever dip down as low as $65,130 ever again.

That's right sir, there is really no guarantee that the price will drop down to the level that many people keep anticipating for... Folks may very well do whatever they like even things like anticipating or making some price predictions... But then, what is however problematic, is when folks delay their their entire investment simply because they are anticipating the perfect entry point, such behavior is very wrong and can slow down the rate of folks accumulation...

The best move will always be for folks to kickstart their investments as soon as they have their discretionary income, following the DCA approach, which is an approach that folks could use to invest consistently in Bitcoin for long term without having  to time their entry/ exit point..

[Yorubek]

It is not a good idea for anyone to wait for a desire dip because they may end up waiting in vain since  it is not possible to predict the price of bitcoin perfectly. Anyone that is waiting and speculating for the price to bitcoin to fall to $20k before they start buying or continue with there bitcoin accumulation is making a big mistake. Who ever is thinking that the market will go as they have expected and decided to have a fixed price in there head they may as well wait in vain .

Besides the inappropriateness of waiting for a Bitcoin price drop for those looking to buy, sometimes people's confidence in buying after seeing the price drop doesn't immediately increase, as the fear of buying when the price has already dropped is clearly inherent in those who like to wait. So, while you still have the courage to buy at the current price, it's better to do so immediately without wasting time waiting, as even when market conditions worsen, someone's confidence may not immediately increase.

You can make any equation that investors who wait for the price to drop will be reluctant to buy at their expected price because they are more afraid when the price drops. Some investors will not buy during a down rally no matter how much you advise them. The current price trend is such that there is a period of time when the price of Bitcoin is likely to fall or rise.
The best time to buy Bitcoin is when you have available funds. The best time to accumulate Bitcoin is when you have discretionary income and are in a position to mentally secure it.

What you say is right, but I think that to buy Bitcoin, it is very important for an investor to have a reliable income and a prudent financial arrangement, if we do not have prudent financial usage, then it will become challenging for us to hold Bitcoin for a long time. And when we buy Bitcoin and are not able to hold it for a long time for any reason, we will never be able to achieve success in investment, another thing is that if we quickly get frustrated and sell Bitcoin during market volatility, it will never be possible to reach the specific goal.

[Gost ms]

What you say is right, but I think that to buy Bitcoin, it is very important for an investor to have a reliable income and a prudent financial arrangement, if we do not have prudent financial usage, then it will become challenging for us to hold Bitcoin for a long time. And when we buy Bitcoin and are not able to hold it for a long time for any reason, we will never be able to achieve success in investment, another thing is that if we quickly get frustrated and sell Bitcoin during market volatility, it will never be possible to reach the specific goal.

Even if a person does not have a reliable income, he can invest if he is able to find a discretionary income through proper financial management. For example, if a person does not have a reliable income, if he is able to find a discretionary income at the end of the month or at the end of the week, he can still invest. There are many people among us who invest in Bitcoin but do not have a reliable source of income. If that person gets a job every day, then he can work, if he does not get a job, then he cannot work that week or day.

We do not need a reliable source of income to invest. If a person waits for a reliable income to invest, then it will never be the right decision for him. If a person has a source of income, be it reliable or non-reliable, and if he is able to find a discretionary income from his source of income, then he can invest.

[Silikiem]

It is not a good idea for anyone to wait for a desire dip because they may end up waiting in vain since  it is not possible to predict the price of bitcoin perfectly. Anyone that is waiting and speculating for the price to bitcoin to fall to $20k before they start buying or continue with there bitcoin accumulation is making a big mistake. Who ever is thinking that the market will go as they have expected and decided to have a fixed price in there head they may as well wait in vain .

Besides the inappropriateness of waiting for a Bitcoin price drop for those looking to buy, sometimes people's confidence in buying after seeing the price drop doesn't immediately increase, as the fear of buying when the price has already dropped is clearly inherent in those who like to wait. So, while you still have the courage to buy at the current price, it's better to do so immediately without wasting time waiting, as even when market conditions worsen, someone's confidence may not immediately increase.

You can make any equation that investors who wait for the price to drop will be reluctant to buy at their expected price because they are more afraid when the price drops. Some investors will not buy during a down rally no matter how much you advise them. The current price trend is such that there is a period of time when the price of Bitcoin is likely to fall or rise.
The best time to buy Bitcoin is when you have available funds. The best time to accumulate Bitcoin is when you have discretionary income and are in a position to mentally secure it.

You are exactly right but I would add that the best time to invest in Bitcoin is when you have a reasonable income, there is no need to look at the price. That is, instead of trying to catch the perfect price or dip price of the market, you should slowly buy Bitcoin with that fund when you have extra money. That is, there is no need for price timing, but the most important thing is to start.

So I agree with those who invest according to these points. Honestly, your financial and mental preparation determines the best time to buy Bitcoin, the market never determines it. In short, the most effective thing to successfully accumulate Bitcoin is to start investing when you have extra funds without predicting the price and continue to collect Bitcoin regularly with long-term faith.

There’s nothing like a reasonable income to start bitcoin investment, rather what we need to start investing is just a discretionary income. What seems reasonable for you might not be reasonable for another person, so instead of saying reasonable income you just say the best time to start bitcoin investment is after we might have finished settling our major basic financial obligations or needs, then the money left with us which is the discretionary income is what we need to use for bitcoin investment, therefore the best time to start investing in bitcoin is when we are able to figure out a discretionary income to use and buy bitcoin and invest.

More so, I don’t think there’s anything as a perfect dip or price, anyone saying he’s trying to catch the perfect price before investing is not ready to invest, such mindset is a traders mindset and not an investors mindset. And of course financial preparation is good, as well as the mental preparation but one must not have to wait to have all the financial and mental preparation before getting started, what you need to prepare is just a discretionary income to use and start buying bitcoin immediately and along the line you can be figuring out ways to improve in your financial planning and decision making to achieve the right financial management strategy for your bitcoin investment.

[Obulis]

A true investor who has been able to build faith in Bitcoin will never be too worried about the price of Bitcoin. For example, @JJG sir may not be too worried about the price of Bitcoin falling unless he has reached the goal of building his portfolio. An investor always uses the fall of Bitcoin and takes this opportunity as a blessing.

I have seen and heard many people praying to God for the fall of Bitcoin. They believe a lot in Bitcoin and pray that this fall will be useful.

Many investors pray for Bitcoin to drop in price but there are also many holders who keep praying for it to hit ATH again. As an investor, it depends on what level you are at and what you expect to happen. But investors who do DCA regularly will not worry too much during price fluctuations because they are buying Bitcoin regardless of the price and for the long term. He is a true investor who is accumulating Bitcoin regardless of the price and continuously investing it through discretionary income and this strategy does not allow them to worry too much about the price.

Smart investors do DCA regularly and increase the size of their cash fund as well as the purpose of aggressively buying during price drops. Balancing cash flow to make the most of Bitcoin price drops.

I think those people trade Bitcoin prays for Bitcoin to drop, usually they are the one waiting for dip to buy then choose to sell at high. Many think that its easy to do that, but when they are already trading for sure that they realize that what they are looking forward to happen is so hard to come. With all of those troubles happened on the market lots of people experience delays and their position didn't improve.

This is the reason why its good to do DCA, because we don't need to worry all of those situations that somehow can cause issues to us. True investors would not care about the price but rather they focus on buying despite whatever situation happened.

I think trying to catch the dip and trading repeatedly is not as profitable as it sounds in reality, when it comes to timing the market, most of the time emotions work, people sell quickly when they are afraid, and buy late when they are greedy, so even if they have a plan, the results are bad. The big advantage of the DCA method is that it reduces emotions and creates a disciplined investment habit. Investing a fixed amount regularly reduces the average price and spreads the risk over the long term. Those who have been patient and have accumulated for a long time have benefited more, compared to short-term traders. So consistency, risk management and a long term perspective are important for new investors.

In reality, most new investors are a little more interested in trading, they think that trading can make quick money very easily which cannot be obtained by investing elsewhere. But from my point of view, trading is very risky, making money by trading is not an easy thing. You can get success by trading, but you first have to gain proper knowledge about trading, as well as have proper knowledge about market volatility because to get success by trading, you have to enter the market at the right time. If you enter the market in a hurry due to greed or emotion, the possibility of loss is high, you have to enter the market at the right time, otherwise the possibility of loss will be very high. I always prefer long-term investment, and Bitcoin is a long-term investment. When we have proper knowledge about Bitcoin and when we buy Bitcoin consistently with discretionary money and are able to hold it for a long time with confidence without getting disappointed during market volatility, then success can be expected in the future. It is good to remember that Bitcoin cannot make anyone rich quickly.

That's not so true at Fredericktaylor because we are all the products of our influence. Some people are driven by trading from the beginning (that's the gamblers) and that's not with the mindset of waiting for the dip for a better chance while some are driven from the beginning by long-term (that's the real investors). Trading or call it gambling has been a risky move even if using discretionary funds because these would be more valuable if used outside trading trading that has more chance of losses.
The addicted gamblers don't really care about the fact that Bitcoin should not be a get rich quick move and you don't expect them to offer different influence from gambling that dominates their minds.

[JayJuanGee]

Part of the problem with waiting is that there is no guarantee that the BTC price will go lower than what it currently is at.  In the last 24 hours, the BTC price has been bouncing between 65,130 and $68,207.  There is no guarantee that BTC prices will ever dip down as low as $65,130 ever again.

It seems like the BTC price is currently stuck above $60,000, whether at $65 or $68, meaning there's no increase in the price. However could this be a way for the market to manipulate the price? Those who practice DCA might be more confident given that market conditions show no signs of rising, as it's currently at $70. While there's no guarantee of a BTC price increase in the near future, for those with available funds DCA is certainly better now than it will be in the next few years. Many are currently accumulating BTC in any amount. For those who have already done so they certainly hope to profit. I believe there's a chance but it all depends on one's personal confidence in making decisions

Of course we cannot really have confidence in regards to how long the BTC price will stay within any particular price range or whether the next breakout will be to the upside or the downside.

Yeah, if we have a pretty strong sense of the direction, we might tailor our own conduct in accordance with our expectations, yet we still might end up being wrong, which is likely the reason that we should always have a bit of financial and/or psychological preparation for the price to go either way, including against our expectations.

There is likely ongoing attempts to manipulate the price when possible, yet sometimes the price cannot be held in its current position or even pushed in the desired direction by the manipulators, which should be part of the justification that we are looking more at our own abilities to buy bitcoin and/or to sufficiently manage our cashflows rather than getting too caught up in expected BTC price moves that may or may not happen, especially in the short term.

I doubt it is very helpful to focus on what other people may or may not be doing in regards to our own practices  in terms of our own level of aggressiveness likely related more to our own status of accumulation, in which I would think that most people in their first cycle of accumulating bitcoin likely would be focused on ongoing accumulating through buying and not really pausing in their accumulation through ongoing buying, except maybe to the extent that their income might have had gone down or their expenses had gone up... and even then,.. sometimes there might be measures that can be taken to increase income and/or to cut expenses.  Each guy has to figure it out and hopefully not lose his focus on bitcoin accumulation.

For sure the guys who had accumulated decent amounts of BTC, they might have a different dilemma in regards to if they are going to continue to ongoingly buy or if they might adapt their strategies where they might not ongoingly buy, yet they would likely still be buying if the price is seems to be in decently low price locations, which seems to be bitcoin's current price status.

[RockBell]

Even if a person does not have a reliable income, he can invest if he is able to find a discretionary income through proper financial management. For example, if a person does not have a reliable income, if he is able to find a discretionary income at the end of the month or at the end of the week, he can still invest. There are many people among us who invest in Bitcoin but do not have a reliable source of income. If that person gets a job every day, then he can work, if he does not get a job, then he cannot work that week or day.

I feel like having a reliable source of income gives you more peace than not having a source of income, and then you can do financial management, because without a proper source of income, how do you plan financial management? Because from the beginning, you need, and so from the beginning it is best for you, to get a job, because that is the only period you will enjoy your investment plan. When you don't have money, there is no way you can invest when you don't have money, look for money and then come back and invest.

We do not need a reliable source of income to invest. If a person waits for a reliable income to invest, then it will never be the right decision for him. If a person has a source of income, be it reliable or non-reliable, and if he is able to find a discretionary income from his source of income, then he can invest.

For anyone who wants to invest in Bitcoin, you can assure them that they need a source of income because even when you want to do DCA, if you don't have a source of income, how can you want to be consistent. And income is important in every aspect, so you need fuel to fuel your car for it to function, and the same thing goes for does that want to invest they need money to invest, so this shows how money is important.

[JayJuanGee]

Even if a person does not have a reliable income, he can invest if he is able to find a discretionary income through proper financial management. For example, if a person does not have a reliable income, if he is able to find a discretionary income at the end of the month or at the end of the week, he can still invest. There are many people among us who invest in Bitcoin but do not have a reliable source of income. If that person gets a job every day, then he can work, if he does not get a job, then he cannot work that week or day.

I feel like having a reliable source of income gives you more peace than not having a source of income, and then you can do financial management, because without a proper source of income, how do you plan financial management?

Just because it is better to have high income or reliable income does not mean that having high income or reliable income is necessary in order to get started investing in bitcoin.

Surely, many of us frequently suggest that guys should try to figure out ways that they can increase their discretionary income by increasing their income and/or by decreasing their expenses, yet they do not have to have those things in place in order to get started investing in bitcoin.

Because from the beginning, you need, and so from the beginning it is best for you, to get a job, because that is the only period you will enjoy your investment plan. When you don't have money, there is no way you can invest when you don't have money, look for money and then come back and invest.

Not having steady income does not mean the same thing as not having discretionary funds available.

In order to invest in bitcoin, all you need is discretionary funds and common sense.  Other improvements can be made from there, yet perfection is not needed to be in place prior to getting started investing in bitcoin.

We do not need a reliable source of income to invest. If a person waits for a reliable income to invest, then it will never be the right decision for him. If a person has a source of income, be it reliable or non-reliable, and if he is able to find a discretionary income from his source of income, then he can invest.

For anyone who wants to invest in Bitcoin, you can assure them that they need a source of income because even when you want to do DCA, if you don't have a source of income, how can you want to be consistent.

You don't need things to be perfect in order to get started investing in bitcoin, even if you are correct in the implication that you will be able to invest more aggressively if your finances are in a stronger place... yet your finances do not need to be in a strong place in order to get started investing in bitcoin... One of the advantages of bitcoin is that relatively small amounts can be invested and the times of the investment can also be infrequent.. and it still counts as an investment and perhaps as a better thing to invest into bitcoin rather than not investing into bitcoin..

And income is important in every aspect,

Your repeating yourself is not going to make your proclamation become true.

so you need fuel to fuel your car for it to function, and the same thing goes for does that want to invest they need money to invest, so this shows how money is important.

Yes.  Money is important, yet you do not need money to fill up the gas tank if you already have a sufficient amount of gas in the car to allow you to drive to your destination, and if the gas tank is empty, and you have enough money to put 1/4 tank of gas into the car, then the car will still work even if it's gas tank is not completely full of gas.

[Itz-prisigold]

Even if a person does not have a reliable income, he can invest if he is able to find a discretionary income through proper financial management. For example, if a person does not have a reliable income, if he is able to find a discretionary income at the end of the month or at the end of the week, he can still invest. There are many people among us who invest in Bitcoin but do not have a reliable source of income. If that person gets a job every day, then he can work, if he does not get a job, then he cannot work that week or day.

I feel like having a reliable source of income gives you more peace than not having a source of income, and then you can do financial management, because without a proper source of income, how do you plan financial management?

Just because it is better to have high income or reliable income does not mean that having high income or reliable income is necessary in order to get started investing in bitcoin.

Surely, many of us frequently suggest that guys should try to figure out ways that they can increase their discretionary income by increasing their income and/or by decreasing their expenses, yet they do not have to have those things in place in order to get started investing in bitcoin.

Because from the beginning, you need, and so from the beginning it is best for you, to get a job, because that is the only period you will enjoy your investment plan. When you don't have money, there is no way you can invest when you don't have money, look for money and then come back and invest.

Not having steady income does not mean the same thing as not having discretionary funds available.

In order to invest in bitcoin, all you need is discretionary funds and common sense.  Other improvements can be made from there, yet perfection is not needed to be in place prior to getting started investing in bitcoin.

You have actually said everything that is on my mind, aside from income level,  another element that I would mention is that discretionary income is also about behavioral conditioning.

People actually underestimate the impact of consistently investing small amounts of money you comfortably set aside, even if the contributions are small or irregular, they can actually building up a financial habit, and the habit of investing bit by bit is often more powerful long term than the size of the initial investment.

Yes it is true that waiting until your income becomes stronger might allow you to invest a bigger amount later, but starting small now helps you develop the mental and financial discipline and in the long run, that discipline might be more powerful than just having a bigger starting amount.

Discretionary income also helps with the aspect of investing because of the flexible approach. People feel a lot of pressure to figure out the 'best time' to invest. With discretionary income, that pressure is relieved because you invest based on what you are able to at the moment, this flexibility is one of Bitcoin's structural advantages, because you can invest at practically any amount.

The way I see it, the most significant barrier here is not the income. It is the mindset that investing is conditioned by ideal circumstances and discretionary income removes that because it transforms investing from a single, significant, scary decision into a series of simple, repeatable, low stakes actions.

[laijsica]

Each person has the responsibility to figure out their own balances and to put systems in place that will facilitate their not panicking, and if they end up fucking up because they strike the wrong balances, then they will have to pay the consequences from their  choices about the systems/practices that they had put in place.

Of course. This is when an investor makes a mistake and has to pay a negative price for it. If he is able to realize his mistakes soon, a good price awaits him. Regular Bitcoin accumulation will not be a panicking for you. You need to decide what to do in this by maintaining a balance.
Just as the amount of income of every person is not the same, so is the type of their problems. How you solve your financial problems depends on maintaining a balance between income and expenses. There are some problems or needs that cannot be solved by a large amount of funds or after meeting one need, another need arises. You should give importance to meeting special needs and use discretionary income properly because a balanced finance system with unlimited needs can increase your wealth. To increase the amount of Bitcoin accumulation, be regular and practice overtime.

[sotelorene]

It is not a good idea for anyone to wait for a desire dip because they may end up waiting in vain since  it is not possible to predict the price of bitcoin perfectly. Anyone that is waiting and speculating for the price to bitcoin to fall to $20k before they start buying or continue with there bitcoin accumulation is making a big mistake. Who ever is thinking that the market will go as they have expected and decided to have a fixed price in there head they may as well wait in vain .

Besides the inappropriateness of waiting for a Bitcoin price drop for those looking to buy, sometimes people's confidence in buying after seeing the price drop doesn't immediately increase, as the fear of buying when the price has already dropped is clearly inherent in those who like to wait. So, while you still have the courage to buy at the current price, it's better to do so immediately without wasting time waiting, as even when market conditions worsen, someone's confidence may not immediately increase.

You can make any equation that investors who wait for the price to drop will be reluctant to buy at their expected price because they are more afraid when the price drops. Some investors will not buy during a down rally no matter how much you advise them. The current price trend is such that there is a period of time when the price of Bitcoin is likely to fall or rise.
The best time to buy Bitcoin is when you have available funds. The best time to accumulate Bitcoin is when you have discretionary income and are in a position to mentally secure it.

What you say is right, but I think that to buy Bitcoin, it is very important for an investor to have a reliable income and a prudent financial arrangement, if we do not have prudent financial usage, then it will become challenging for us to hold Bitcoin for a long time. And when we buy Bitcoin and are not able to hold it for a long time for any reason, we will never be able to achieve success in investment, another thing is that if we quickly get frustrated and sell Bitcoin during market volatility, it will never be possible to reach the specific goal.

Stop using vague words dude, what we need to accumulate Bitcoin is just our discretionary income because there are terms or words some newbie will or may not be familiar with and so they can mistake it to a different thing so that is why it is very advisable and cool to be very simple when passing information across. Bitcoin can only be enjoy when we are consistent in our accumulation and hold for long term. Selling when we are yet to reach overaccumulation stage is not encouraging and not good and what causes frustration is using what we can not afford to lose ( money outside discretionary).

[alankasman]

Of course we cannot really have confidence in regards to how long the BTC price will stay within any particular price range or whether the next breakout will be to the upside or the downside.
Yeah, if we have a pretty strong sense of the direction, we might tailor our own conduct in accordance with our expectations, yet we still might end up being wrong, which is likely the reason that we should always have a bit of financial and/or psychological preparation for the price to go either way, including against our expectations.

Let time determine what will happen in the future regarding the BTC price cycle. Our job is to continue doing what we need to do, whether by increasing the number of BTC within a timeframe that remains at the current price or maintaining the existing amount of BTC after accumulating it for several years. In this situation, holding on is certainly better than selling, unless there are signs of an increase in the market price in the future. Of course the decision is up to each of us because we all own BTC.

It is true that everyone can be more knowledgeable but this knowledge may not seem to apply to the method of adjusting behavior based on our expectations because all of these things will not be able to move in deciding on preparations that may occur in opposition so that in this case there will always be opposing points, funds far from financial or psychological which may enter as challenges and will not be in accordance with the direction we intend.

[abaeze]

You are exactly right but I would add that the best time to invest in Bitcoin is when you have a reasonable income, there is no need to look at the price.

I don't understand what you mean that a brand new investor should have reasonable income before he should start investing inti bitcoin. What really matters is a discretionary income because what is a reasonable income to you might not be reasonable to someone else.

Actually, here is the Bitcoin accumulation philosophy and everyone will understand it in one place - the most important thing in Bitcoin or any investment is to maintain Consistency. The rest is Timing and Amount are not the main thing to start investing in Bitcoin. So because of lexical semantics, many times someone may understand differently but basically success in Bitcoin investment comes when you invest patiently and disciplinedly according to a long-term plan, as you said about the DCA strategy.

However, since everyone's risk-taking ability is different and the same investment pattern is not for everyone. So investment should be based on the understanding and comfort of the person. So first start small, learn, increase confidence, then gradually increase investment if desired.

[cyberninja2]

Stop using vague words dude, what we need to accumulate Bitcoin is just our discretionary income because there are terms or words some newbie will or may not be familiar with and so they can mistake it to a different thing so that is why it is very advisable and cool to be very simple when passing information across. Bitcoin can only be enjoy when we are consistent in our accumulation and hold for long term. Selling when we are yet to reach overaccumulation stage is not encouraging and not good and what causes frustration is using what we can not afford to lose ( money outside discretionary).

It seems that what you said is true because when we want to start accumulating Bitcoin of course I think that is the main point for us as beginners because the same thing is also done by many people who have been involved in the accumulation section for a long time of course they also used to do things like what we said for them as beginners because it has become part of the accumulation so that the language that is usually familiar will certainly no longer be mentioned if we have become old players in the part regarding BTC accumulation especially after doing it of course we immediately do it for long-term storage and also sometimes when things happen now, of course, some people have not done much to be consistent in maintaining the Bitcoin they have so there are those who sell suddenly this may be a factor of discretionary income that is not yet stable so it is difficult for needs that sometimes need money to spend but they think one way is to sell before reaching the peak that should be sold meaning you have to be patient if market conditions are like this but it is all difficult except for some people who may be able to maintain the amount of Bitcoin they have because the concept is in us.

[Bigjoe33]

Part of the problem with waiting is that there is no guarantee that the BTC price will go lower than what it currently is at.  In the last 24 hours, the BTC price has been bouncing between 65,130 and $68,207.  There is no guarantee that BTC prices will ever dip down as low as $65,130 ever again.

It seems like the BTC price is currently stuck above $60,000, whether at $65 or $68, meaning there's no increase in the price. However could this be a way for the market to manipulate the price? Those who practice DCA might be more confident given that market conditions show no signs of rising, as it's currently at $70. While there's no guarantee of a BTC price increase in the near future, for those with available funds DCA is certainly better now than it will be in the next few years. Many are currently accumulating BTC in any amount. For those who have already done so they certainly hope to profit. I believe there's a chance but it all depends on one's personal confidence in making decisions

Of course we cannot really have confidence in regards to how long the BTC price will stay within any particular price range or whether the next breakout will be to the upside or the downside.

Yeah, if we have a pretty strong sense of the direction, we might tailor our own conduct in accordance with our expectations, yet we still might end up being wrong, which is likely the reason that we should always have a bit of financial and/or psychological preparation for the price to go either way, including against our expectations.

Sure, and that's the more reason investor should come into bitcoin investment with a long term mentality, this gives your heart enough space to put up with its fluctauting nature and not crying blood when it is not going out direction or expectations.

Investors would prefer an uptrend, but then, a common sense about the nature of bitcoin must have kept everyone alert and/or ready for any movement to any side, be it down, sideways or even maintain an upward movement in price. Thus, anyone investing in bitcoin with just an upward price movement ideology is making a very big mistake and would always panic, and I doubt if such investor can HODL for long term since bitcoin doesn't operate that way.

So investment should be based on the understanding and comfort of the person. So first start small, learn, increase confidence, then gradually increase investment if desired.

Yea, starting small, at least, you get build confidence and/or trust the the process, choosing or discovering the best way to balance your income expenditure and your income allocation and management as to suit your weekly or monthly investment to avoid financial issues regularly. If this confidence is built, then one can increase his DCAing amount willingly as you gradually grow your investment.

[Brizi5000]

You are exactly right but I would add that the best time to invest in Bitcoin is when you have a reasonable income, there is no need to look at the price.

I don't understand what you mean that a brand new investor should have reasonable income before he should start investing inti bitcoin. What really matters is a discretionary income because what is a reasonable income to you might not be reasonable to someone else.

Actually, here is the Bitcoin accumulation philosophy and everyone will understand it in one place - the most important thing in Bitcoin or any investment is to maintain Consistency. The rest is Timing and Amount are not the main thing to start investing in Bitcoin. So because of lexical semantics, many times someone may understand differently but basically success in Bitcoin investment comes when you invest patiently and disciplinedly according to a long-term plan, as you said about the DCA strategy.

However, since everyone's risk-taking ability is different and the same investment pattern is not for everyone. So investment should be based on the understanding and comfort of the person. So first start small, learn, increase confidence, then gradually increase investment if desired.

Consistency is good in bitcoin investment, but then the most important thing needed In bitcoin investment is just a discretionary income. An investor’s consistency depends largely on his ability to figure out a discretionary income to use for his bitcoin investment. Without a discretionary income it will be difficult to invest in bitcoin talk more of maintaining the consistency in accumulation and that’s why bitcoin investment isn’t just all about you having money or a steady income, what really matter is the ability to get a discretionary income from it to buy bitcoin, without the right financial management skill it will be practically impossible to maintain this consistency especially most investors who spend money on frivolous things. You don’t have to time the market before you can buy bitcoin and hold as a long term investor, with the DCA method one can buy bitcoin at any market price with just a discretionary income and invest for long term purpose.

[Byebyebtc]

Even if a person does not have a reliable income, he can invest if he is able to find a discretionary income through proper financial management. For example, if a person does not have a reliable income, if he is able to find a discretionary income at the end of the month or at the end of the week, he can still invest. There are many people among us who invest in Bitcoin but do not have a reliable source of income. If that person gets a job every day, then he can work, if he does not get a job, then he cannot work that week or day.

I feel like having a reliable source of income gives you more peace than not having a source of income, and then you can do financial management, because without a proper source of income, how do you plan financial management? Because from the beginning, you need, and so from the beginning it is best for you, to get a job, because that is the only period you will enjoy your investment plan. When you don't have money, there is no way you can invest when you don't have money, look for money and then come back and invest.

We do not need a reliable source of income to invest. If a person waits for a reliable income to invest, then it will never be the right decision for him. If a person has a source of income, be it reliable or non-reliable, and if he is able to find a discretionary income from his source of income, then he can invest.

For anyone who wants to invest in Bitcoin, you can assure them that they need a source of income because even when you want to do DCA, if you don't have a source of income, how can you want to be consistent. And income is important in every aspect, so you need fuel to fuel your car for it to function, and the same thing goes for does that want to invest they need money to invest, so this shows how money is important.

Yes I personally feel the same way,
I see most people post that Bitcoin is for everyone and you don't have to be financially stable to invest, but they get it all wrong.
How will you get a discretionary income, if you don't have a good income that can cover all your bills and yet still have a left over?

The main money for investments is discretionary income which is leftover funds after payments of bills and other major payments, and if you you can only afford payments of bills then you will classify that as high risk which is not advisable. Mind you most people don't even have enough money to pay for all their bills.
So the bitter truth is that Bitcoin is not meant for those who are not financially stable.

[alankasman]

Yes I personally feel the same way,
I see most people post that Bitcoin is for everyone and you don't have to be financially stable to invest, but they get it all wrong.
How will you get a discretionary income, if you don't have a good income that can cover all your bills and yet still have a left over?

The main money for investments is discretionary income which is leftover funds after payments of bills and other major payments, and if you you can only afford payments of bills then you will classify that as high risk which is not advisable. Mind you most people don't even have enough money to pay for all their bills.
So the bitter truth is that Bitcoin is not meant for those who are not financially stable.

And I also agree with what you said because they think that without a stable income DCA (Diversification Asset Allocation) on accumulated Bitcoin is certainly not possible as that is the main focus for someone trying to invest in Bitcoin. Therefore what you said about them is certainly very true in my opinion considering what others have said. This is essential for everyone especially those with discretionary income to achieve life goals. Sometimes people will pay bills and pay for things that are already obligations that must be met.

If we don't have discretionary income, we must have a job that we designate as an alternative. If our primary income sometimes has to be used for necessities and that's also something that must be spent. With the remaining funds we can then invest in our future assets even if the amount is small but it's not a problem because the main principal has been met. Therefore, we must have funds set aside for our needs, even when we're in a difficult situation. Having these funds will certainly serve as a tool and not interfere with our Bitcoin investment, accumulating it over the long term.