JJG’s Outline of Bitcoin Investment Ideas

[Taskford]

Argument with people without knowledge is a waste of time so when you hear them talk you know if they are knowledgeable or not and those that are most likely to pick up Intrest to want to invest, they need to understand first so know that then they will know the steps to take both everything thing still have to be around if they are ready to learn when you learn you will know that one of the things people do the most when it comes to bitcoin is to hold for a very long time onyl few traders we have been we know the risk and what it take to be a traders so holding is what people like.

People are always taking learning for granted and without learning you can do nothing so first have the knowledge even if it is basics so that when you start you won't even feel cheated because you already have the knowledge and you can even manage to know how to. Buy and sell then every other thing can follow and this is one reason, they will tell. Anyone that is starting to start by learning first that is the most important factor.

I am a bit confused by your post Baki202, since you seem to be implying that there might be some prerequisite level of learning (beyond common sense) that needs to happen before getting started investing in bitcoin.

So frequently, I am trying to emphasize getting started investing in bitcoin, since there are so many normies (no coiners and low coiners) who emphasize knowing about bitcoin or trying to figure out BTC price movements so that they can buy dips, blah blah blah, and many of those folks would be way better off to get started investing in bitcoin as soon as possible, and so the amount that anyone starts out investing with does not need to be large, yet there is an importance in getting started investing in bitcoin as soon as possible rather than getting caught up upon ideas that they need to learn something about bitcoin first or that they need to know anything more than what can be gathered by looking at a bitcoin price chart and seeing that its price is quite volatile and number tends to go up... and so superficial knowledge of bitcoin is fine to start out as long as the person otherwise has the abilities to figure out if he has discretionary income and he has common sense.. .so if he has discretionary income (which is the main prerequisite to figure out), then he is able to use his common sense to figure out a starting investment amount, whether it is $100 or $10 or some other amount, and then set his pace from there in regards to how much time and energy that he is able to dedicate to bitcoin in order to better tailor his in ongoing investment amounts to his individual factors.

You have said the most correct and effective way which is suitable for everyone especially those who have not started investing in Bitcoin yet but want to start. Many people never start if they wait to learn more, so the most realistic way is to start investing with small amounts and learn gradually. But of course, you need to have a little idea first.

For example: A friend of mine's younger brother heard about Bitcoin three years ago and he wants to invest but he will learn first and then invest. The sad thing is that his accumulation has not started yet. So if someone says "I will never buy Bitcoin until I learn it completely", then he may not be able to start even in 5 years. But if he starts with $20 and keeps learning, then he will gain experience quickly and can gradually increase the accumulation.

I always believe that ideal approach is to start small because there's learnings to get with their accumulation processes made, what's important is they start already and even if the amount they used for a while is small they can still observe then learn with those situations they encounter. Also with that they are not risking much,   also they could able to do good decisions then go big when they are confident to use big funds to buy more Bitcoin.

I don't believe that those people will continue, if they always use those reason that they wait to fully understand Bitcoin first before they invest. Since most of these people are skeptical and don't want to take risk.

[Saltysugar99]

I always believe that ideal approach is to start small because there's learnings to get with their accumulation processes made, what's important is they start already and even if the amount they used for a while is small they can still observe then learn with those situations they encounter. Also with that they are not risking much,   also they could able to do good decisions then go big when they are confident to use big funds to buy more Bitcoin.

I don't believe that those people will continue, if they always use those reason that they wait to fully understand Bitcoin first before they invest. Since most of these people are skeptical and don't want to take risk.

I agree with you. The main reason for starting small is that learning Bitcoin is not a theory but a practice. When you buy regularly, you will understand where your budget breaks down, which weeks your expenses increase, how much discretionary income you really have. And most importantly, what do you do mentally when you see volatility. Those who buy Bitcoin with a lot of money at once, they panic when the price drops for the first time. And those who only think about buying later have many years but never start. You can start with common sense and discretionary income. The rest can be learned with time.

Many people think that they will understand it completely first and then start investing in Bitcoin. This is a kind of excuse for not starting to invest in Bitcoin. Because there is no such thing as understanding Bitcoin completely. Even experts do not know everything. They only know how to survive for a long time by managing cash flow and risk. If you don't start, your learning will be nothing. And the biggest thing is that you will lose time and opportunity. This means that your habits, discipline, and stack building time will behind.

Another big advantage of starting small is that the cost of mistakes is low. Suppose someone starts with $10 a week. In a year, he will invest $520. If he makes any mistake during this time, such as putting it in the wrong exchange, or not understanding the budget properly, or not paying attention to creating a backup fund, then the financial loss will not be big, but the learning will be very important. Which he would not have understood by studying his whole life if he had not invested. Then when he gains confidence, he can increase it from $10 to $30, $30 to $50 continue . When beginners invest a large amount in the beginning, they can learn, but if they make a mistake during that learning time, they have to suffer a lot of losses. It seems that after learning from mistakes, the economic situation was no longer again to investment.

[Silikiem]

[edited out]

The must know before starting Bitcoin investment is the best wallet to use and how you could secure your fund. What important most in Bitcoin investment is your privacy and security. If you can learn to go about this, then I believe others are minor.

You believe that newbies to bitcoin need to learn how to secure their keys before starting to buy bitcoin?  What are potential options? How long is it going to take them to learn?  How comfortable do you believe that they need to be, before starting to buy bitcoin?

Do you have a certain kind of user in mind based on age and/or abilities or do you consider such a standard to apply to everyone who wants to buy bitcoin (or bitcoin exposure)?

Did you read my post responding to fillippone in order to attempt to account for my ideas on the topic?  What do you think of my ideas in response or any of my other bitcoin-related investment ideas (since that is the title of the thread?)?

I don’t think a beginner needs to master key management before buying their first sats, but they should at least understand why it matters.

A small start on a simple wallet can work as a learning phase. The important part is developing the habit early and understanding that eventually the responsibility for security has to shift to them if they plan to hold long term.

What do you mean by key management? There is nothing like key management and of course an investor should have a management skill before starting their Bitcoin investment because without management skill it will be difficult for an investor to make some decisions. You maybe mistaken knowledge to management because an investor doesn't really need to know or have all the knowledge for a start, what they need to start is the basic knowledge.

What an investor needs before starting investing In bitcoin is to check if he has a discretionary income to use and start buying bitcoin. Being able to figure out a discretionary income is the skill you need to start bitcoin investment. Any other skills are secondary but what is most important to start with is just a discretionary income. Of course, an investor will need to possess the right financial management skill to enable him make important decisions regarding his finances so as not to waste money on things that are not really important for him thereby causing him his ability to remain a discretionary income for his bitcoin investment.

[JayJuanGee]

[edited out]

I don’t think a beginner needs to master key management before buying their first sats, but they should at least understand why it matters.

We can agree to disagree. The newbie does not need to know anything deeply and/or substantially about bitcoin to get started (perhaps beyond glancing at a chart and see number tends to go up and/or is volatile), or maybe the guy starts to blindly invest in bitcoin based on a recommendation of a friend, so all that he needs to know is that he picks the right bitcoin.. BTC rather than something that is not bitcoin.

And the brand new person to bitcoin might choose to make his first purchases through an exchange, whether it is $100, $30, $10 or some other amount, even though sure the coins on exchanges are not real bitcoin, but they have the potential to be transferred to a private wallet at a later date (after he starts to look into matters related to wallets that he does not need to know to start)..

A small start on a simple wallet can work as a learning phase.

Why does he need to start that way?  with a wallet?  Why is that a prerequisite from your point of view?  He is just getting started, and in my current hypothetical, he is merely starting out based on the recommendation of an old friend, perhaps from High School who he bumped into when he was at the bar last night, and the friend told him to look into bitcoin and to get started by buying some.  He trusts the friend to at least get started with $100.

The important part is developing the habit early and understanding that eventually the responsibility for security has to shift to them if they plan to hold long term.

He is just getting started.  He doesn't know shit, except that he knows he has discretionary funds and he plans to look further into various aspects of bitcoin later.  Why does he have to have some prerequisite to learn about wallets before he gets started buying some corn? 

Why can't he learn his good habits and security and/or various aspects of bitcoin wallets, later (perhaps after 10 weeks of buying $100 per week?)?  Is the guy not going to be able to break his habit at a later date merely because he started buying $100 worth of bitcoin every week, when he already knows that he has enough money ot be able to afford the bitcoin? 

Maybe the guy decided to take the money from his beer fund.. so he is going to reduce the amount of his beer purchases and consumption by $100 every week and buy bitcoin with that "saved" money each week.  Why does he need to learn specific things related to bitcoin wallets, security or anything else in order to get started and perhaps even to continue to buy $100 every week for 10 weeks while he is figuring out when to make some time in order to research into the bitcoin-related matter later?  Can't he get started with a mere superficial understanding based on the recommendation of a friend?  He is an adult .  He has common sense, and he has $100 per week extra money that's in his discretionary income that he can afford to put into bitcoin each week.

[Catenaccio]

We can agree to disagree. The newbie does not need to know anything deeply and/or substantially about bitcoin to get started (perhaps beyond glancing at a chart and see number tends to go up and/or is volatile), or maybe the guy starts to blindly invest in bitcoin based on a recommendation of a friend, so all that he needs to know is that he picks the right bitcoin.. BTC rather than something that is not bitcoin.

Knowing fundamentals is better than don't know about them before starting but I really agree with you that newbies don't need to know too much for their beginnings.

It's never like if a person starts with just buying bitcoin because of hearing about Bitcoin, its potential by any source like news, friends, family members, and go directly to buy bitcoin on a centralized exchange is doing something bad. If that person actually bought bitcoin, it's a start, and it will be good if the person manages to hold that bitcoin a long time for profit.

Even without too good fundamentals, that person can still hold his or her bitcoin well, but surely it's more recommended to do this with better knowledge. Anyway senior people in this market don't actually need to complicate things too much, as it can be like too overwhelming barriers that prevent newbies to start.

Starting, learning, improving with time is a good pathway.

[JayJuanGee]

We can agree to disagree. The newbie does not need to know anything deeply and/or substantially about bitcoin to get started (perhaps beyond glancing at a chart and see number tends to go up and/or is volatile), or maybe the guy starts to blindly invest in bitcoin based on a recommendation of a friend, so all that he needs to know is that he picks the right bitcoin.. BTC rather than something that is not bitcoin.

Knowing fundamentals is better than don't know about them before starting but I really agree with you that newbies don't need to know too much for their beginnings.

There is value in going through a process of setting up an account, whether the guy's first buy is $100, $30, or $10, and surely it is likely different to make one small initial buy versus continuing to buy for weeks and weeks and weeks, and then another thing if the guy were to put a lump sum amount in.  Neither I nor anyone else who has been advocating to get started has been suggesting to start with a high amount, yet there seem to be so many guys who presume that it is a big deal to get started... Let's say the newbie gets started, and then after a few weeks of buying $100 per week, he decides that he does not like bitcoin, so he sells all of his bitcoin back.. and maybe he had put in $300 or $400 and maybe he gets back his whole amount or maybe he gets upset that he price dropped 20%, so he only gets back $240 (instead of $300) or $320 (instead of $400).. What  has he lost in the process of getting started, versus what he gained to get started and to have some systems in place.

It's never like if a person starts with just buying bitcoin because of hearing about Bitcoin,

There can be all kinds of ways that a person might first get started in bitcoin, and I provided one possible scenario that related to running into an old friend and then getting advice. I think that the scenario is plausible, yet if you are saying that my scenario is unrealistic, then you are just fighting with the hypothetical, which is hardly a meaningful tactic to try to rebut what I am saying..

its potential by any source like news, friends, family members, and go directly to buy bitcoin on a centralized exchange is doing something bad.

You think that normal newbies don't start out their bitcoin journey by going to an exchange?

If that person actually bought bitcoin, it's a start, and it will be good if the person manages to hold that bitcoin a long time for profit.

They may or may not hold their bitcoin for a long time.  In the scenario that I presented, they are just getting started, and they don't know shit about bitcoin beyond getting their friend's recommendation. There is no reason to presume either way in terms of how long the guy might stick with bitcoin or how much he will end up dedicating time and energy into researching further into it... Yet if he is buying bitcoin, he likely has an incentive to look into it further..

Even without too good fundamentals, that person can still hold his or her bitcoin well,

I frequently suggest that it is way more important for guys to have good grasps on their own finances rather than thinking that some kind of detailed assessment of bitcoin has to be made - especially in the very beginning.  Sure, from my own perspective, it would be good if the guy might make some kind of a superficial assessment of his own 9 individual factors, and only one of those 9 factors deal with assessing of bitcoin as compared with other possible places that time, energy and value could be spent.

Even with the 9 individual factors, I consider them to be an outline of factors that are ever changing, and surely guys can spend years and years working on his 9 individual factors, and he does not have to have his shit together prior to getting started investing into bitcoin.  Surely many of us likely know people who have a lot of financial problems that not only relate to their income, but also that if the do have a decent income, they end up getting themselves in all kinds of debt and/or payment situations and even situations in which their bills are so high that they are not giving themselves much of a cushion to be able to invest, so many times, the most important area of focus for any newbie bitcoin investor likely should relate to getting his own finances in order, so bitcoin still ends up ONLY being one of the 9 factors that relate to the guys getting his finances in order making sure that he is managing his cashflows in reasonable ways that gives him cash cushions and flexibilities... so that he has enough discretionary income so that he can 1) invest, 2) save (back up funds) and 3) discretionarily consume (within reason)

but surely it's more recommended to do this with better knowledge.

Guys can start investing from where-ever they are at, and I am presuming that 97.5% of normal people are not retarded.

There is no reason to patronize anyone, so as long as they have common sense, and discretionary funds, they should be able to get started investing in bitcoin, even based on the tip of their friend.. .as long as they have discretionary funds and common sense (which I am presuming 97.5% of normies to have common sense).. Sure some normies might need to get their common sense under control and to discipline themselves, but if they are starting to invest into bitcoin, then they should be inspired not to lose money and to learn whatever that they feel that they need to learn, and so they have their common sense as a starting basis that allows them to get started buying bitcoin as long as they can figure that they have discretionary funds. 

If any particular newbie does not know math enough in order to figure out if they have discretionary funds funds or not, then they might need to figure out their math, their calculations and maybe they have to spend more time plotting out their income versus their expenses in order to determine whether they have discretionary funds that they can put into bitcoin, but in the hypothetical that I just gave, I already said that the particular guy had decided to invest $100 into bitcoin every week based on money that he moved over to bitcoin that he had been using to buy beer every week.  So, in the hypothetical the guy has discretionary funds, he presumptively has common sense, and he is working off the tip that he got from his friend to get started investing into bitcoin at  $100 per week.... and he figures that he will at least invest $100 per week for the next 10 weeks while he is looking further into the bitcoin matter.  What's the problem?  What else does he need? more knowledge than what I already suggested that he has?  How are you considering him to be defective in his level of knowledge which may largely just relate to the tip he got from his friend that is motivating him to get started.

Anyway senior people in this market don't actually need to complicate things too much, as it can be like too overwhelming barriers that prevent newbies to start.

Starting, learning, improving with time is a good pathway.

I cannot figure out if you are agreeing with me or not. From my perspective, you seem to be emphasizing learning before getting started, and I am continuing to emphasize getting started.  You are presuming that the newbie is missing something, and I am saying the he already has the two most important things.  He has figured out that he has discretionary funds, and he has common sense.

The point is that any and/or all guys can get started investing into bitcoin from wherever they are at, and they can figure out the extent to which they need more information in order to get started whether it is $100, $30, $10 or some other amount.  level of aggressiveness based on their discretionary funds that they know that they have available.. and otherwise they will continue to adjust their position size as they go and as they learn more.  Hopefully the actual practice of getting started investing into bitcoin and employing their weekly investment plan (in the event that they decide to get started by buying bitcoin every week) will stimulate them to dedicate time and energy into investigating further into the bitcoin matter so that they can increase their confidence and their comfort level.

[Catenaccio]

Anyway senior people in this market don't actually need to complicate things too much, as it can be like too overwhelming barriers that prevent newbies to start.

Starting, learning, improving with time is a good pathway.

I cannot figure out if you are agreeing with me or not. From my perspective, you seem to be emphasizing learning before getting started, and I am continuing to emphasize getting started.  You are presuming that the newbie is missing something, and I am saying the he already has the two most important things.  He has figured out that he has discretionary funds, and he has common sense.

My post is all about motivating newbies to start, even they don't have knowledge about Bitcoin or only have very little knowledge about Bitcoin. If they actually started, it's good, and it's not coincidence but my intention to put these steps in orders like

Starting - Learning - Improving

You maybe did not notice its order, but it is like that, newbies can start, then they can learn and improve with time. Education is always important but it should never be a barrier to prevent people starting.

Starting first, even with very small purchase, to know how to do that, buying, storing, making a transaction, following up the market and portfolio, ... are all good for beginning.

In addition by starting, they will be naturally exposed to more people in the same industry, more educational resources that will help them learning better.

[Patrol69]

He is just getting started.  He doesn't know shit, except that he knows he has discretionary funds and he plans to look further into various aspects of bitcoin later.  Why does he have to have some prerequisite to learn about wallets before he gets started buying some corn? 

Why can't he learn his good habits and security and/or various aspects of bitcoin wallets, later (perhaps after 10 weeks of buying $100 per week?)?  Is the guy not going to be able to break his habit at a later date merely because he started buying $100 worth of bitcoin every week, when he already knows that he has enough money ot be able to afford the bitcoin? 

The prerequisite for a new investor to start investing is not that he has to know everything about investing, but if he has extra money at the end of the month, then he can start investing with that money. If an investor can invest $100 every week, it can be a good start for him, but if an investor thinks that he will invest a smaller amount every week, he can also do that. The investor can use the money he wants to invest in Bitcoin, no matter how small it is.
A new investor does not know much about investing and if he thinks that he will first learn about investing and then invest in Bitcoin, I think that his knowledge about investing will not be complete because when we do a job and try to learn about that job, it will be more useful to us and we will remember it more.

If a lecture is given in engineering subjects, a practical class of that lecture is taken, so that we can learn to apply the verbal knowledge in practice. Similarly, if we invest in Bitcoin in a new situation and keep learning, then I think this will be the right decision for an investor. If the investor wants to invest after learning everything, then his investment may be delayed a lot or his investment plan may not be successful.

Yes, I would say that it is necessary to have some idea about wallets and security, but similarly, if they continue investing for a few weeks or months with some idea, then I believe that he will gradually become more aware of all these security issues of his wallet.

Therefore, for new investors, it can be a realistic way to invest consistently and make a habit of continuing to deposit investments for a long time and increase knowledge about this step by step.

Maybe the guy decided to take the money from his beer fund.. so he is going to reduce the amount of his beer purchases and consumption by $100 every week and buy bitcoin with that "saved" money each week.  Why does he need to learn specific things related to bitcoin wallets, security or anything else in order to get started and perhaps even to continue to buy $100 every week for 10 weeks while he is figuring out when to make some time in order to research into the bitcoin-related matter later?  Can't he get started with a mere superficial understanding based on the recommendation of a friend?  He is an adult .  He has common sense, and he has $100 per week extra money that's in his discretionary income that he can afford to put into bitcoin each week.

You don't need to be an expert to start investing in Bitcoin, rather if you have some ideas and extra money, you can start investing through certain plans and later you can learn a lot on your own and make many decisions on your own to make the investment long-term and stronger. Many new investors often start the investment journey through their friends and when they start, they don't have an expert level of idea, but they get some ideas at the beginning and step by step they start making investment decisions on their own and they also learn what kind of steps they can take to increase the security of their wallet or what investment decisions they can make so that they don't have to sell their investment in a sudden emergency. Many new investors don't form an emergency fund at the beginning of their investment, but later they think about the security of their investment but form an emergency fund, so if they are involved in investment, it is certainly possible to know everything about this gradually and make decisions accordingly.

In the case of continuous investment, the important thing is that the investor is investing such an amount of money in Bitcoin that is beyond his daily expenses or what is usually called discretionary funds.

[sotelorene]

[edited out]

The must know before starting Bitcoin investment is the best wallet to use and how you could secure your fund. What important most in Bitcoin investment is your privacy and security. If you can learn to go about this, then I believe others are minor.

You believe that newbies to bitcoin need to learn how to secure their keys before starting to buy bitcoin?  What are potential options? How long is it going to take them to learn?  How comfortable do you believe that they need to be, before starting to buy bitcoin?

Do you have a certain kind of user in mind based on age and/or abilities or do you consider such a standard to apply to everyone who wants to buy bitcoin (or bitcoin exposure)?

Did you read my post responding to fillippone in order to attempt to account for my ideas on the topic?  What do you think of my ideas in response or any of my other bitcoin-related investment ideas (since that is the title of the thread?)?

I don’t think a beginner needs to master key management before buying their first sats, but they should at least understand why it matters.

A small start on a simple wallet can work as a learning phase. The important part is developing the habit early and understanding that eventually the responsibility for security has to shift to them if they plan to hold long term.

What do you mean by key management? There is nothing like key management and of course an investor should have a management skill before starting their Bitcoin investment because without management skill it will be difficult for an investor to make some decisions. You maybe mistaken knowledge to management because an investor doesn't really need to know or have all the knowledge for a start, what they need to start is the basic knowledge.

What an investor needs before starting investing In bitcoin is to check if he has a discretionary income to use and start buying bitcoin. Being able to figure out a discretionary income is the skill you need to start bitcoin investment. Any other skills are secondary but what is most important to start with is just a discretionary income. Of course, an investor will need to possess the right financial management skill to enable him make important decisions regarding his finances so as not to waste money on things that are not really important for him thereby causing him his ability to remain a discretionary income for his bitcoin investment.

You don't need to check if you have a discrestionary income it is your duty as an investor or someone who wants to invest in Bitcoin to sort out your discretionary income and getting your discretionary income is not really a skill but a decision someone who is ready or interested to start investment should/will do but where someone need a skill is on how to rotate or use the discretionary income because some people are able to sort out their discretionary income but they are not able to use it properly and as a result they get stranded.

[As-Soon-As]

You don't need to check if you have a discrestionary income it is your duty as an investor or someone who wants to invest in Bitcoin to sort out your discretionary income and getting your discretionary income is not really a skill but a decision someone who is ready or interested to start investment should/will do but where someone need a skill is on how to rotate or use the discretionary income because some people are able to sort out their discretionary income but they are not able to use it properly and as a result they get stranded.

How do we sustain Bitcoin investment? It is most necessary to follow the strategies, invest with prudent income and create an emergency fund to sustain the investment. However, Bitcoin investment should not be aggressive, then the investment can get stuck and can face danger at any time, if you can invest 20 percent to 30% of your income or monthly salary, this will be the most ideal investment. And the person who maintains the continuity of purchase will be the person who can sustain Bitcoin investment for a long time.

[Joy- maker]

How do we sustain Bitcoin investment? It is most necessary to follow the strategies, invest with prudent income and create an emergency fund to sustain the investment. However, Bitcoin investment should not be aggressive, then the investment can get stuck and can face danger at any time, if you can invest 20 percent to 30% of your income or monthly salary, this will be the most ideal investment. And the person who maintains the continuity of purchase will be the person who can sustain Bitcoin investment for a long time.

If you want to invest in Bitcoin and succeed on the long run you must follow a good financial habit,  invest in Bitcoin with a clear strategy, not randomly.

Invest in Bitcoin with your discretionary income and not money meant for important needs. It is also important to keep an emergency fund,  this money will help you when unforseen circumstance occurs,  such as medical issues,  job loss or urgent expense,  Having an emergency fund prevent you from selling off your Bitcoin investment during difficult times.

Secondly,  as a newbie to Bitcoin you don't have to be aggressive from the start, invest within your capacity and little by little you would reach your accumulating target.  investing aggressively outside your discretionary income could get you stuck, especially when the market price drops.  So The safe approach is by investing the money that is made available consistently, till you figure out how to increase your discretionary income.

[Sim_card]

How do we sustain Bitcoin investment? It is most necessary to follow the strategies, invest with prudent income and create an emergency fund to sustain the investment. However, Bitcoin investment should not be aggressive, then the investment can get stuck and can face danger at any time, if you can invest 20 percent to 30% of your income or monthly salary, this will be the most ideal investment. And the person who maintains the continuity of purchase will be the person who can sustain Bitcoin investment for a long time.

It's not just investing 20% or 30% of your income, you have to make sure that the money is your discretionary income and not your money for your important needs so that, you don't end up selling when it's not of your will.

 This is why as a brand new investor, you need to figure out whether, you have a discretionary income or not. If you have, you can start your bitcoin investment right away with your discretionary income and if you don't have, you need to look for ways to have a discretionary income either by cutting down your expenses and get a second means of income.

However, Bitcoin investment should not be aggressive, then the investment can get stuck and can face danger at any time

You can invest aggressively if you can but don't overdo it because when you overdo it, it's no longer investment but gambling. It's good to invest aggressively when your backup funds are on ground.

[Sonia_123]

[edited out]

The must know before starting Bitcoin investment is the best wallet to use and how you could secure your fund. What important most in Bitcoin investment is your privacy and security. If you can learn to go about this, then I believe others are minor.

You believe that newbies to bitcoin need to learn how to secure their keys before starting to buy bitcoin?  What are potential options? How long is it going to take them to learn?  How comfortable do you believe that they need to be, before starting to buy bitcoin?

Do you have a certain kind of user in mind based on age and/or abilities or do you consider such a standard to apply to everyone who wants to buy bitcoin (or bitcoin exposure)?

Did you read my post responding to fillippone in order to attempt to account for my ideas on the topic?  What do you think of my ideas in response or any of my other bitcoin-related investment ideas (since that is the title of the thread?)?

I don’t think a beginner needs to master key management before buying their first sats, but they should at least understand why it matters.

A small start on a simple wallet can work as a learning phase. The important part is developing the habit early and understanding that eventually the responsibility for security has to shift to them if they plan to hold long term.

What do you mean by key management? There is nothing like key management and of course an investor should have a management skill before starting their Bitcoin investment because without management skill it will be difficult for an investor to make some decisions. You maybe mistaken knowledge to management because an investor doesn't really need to know or have all the knowledge for a start, what they need to start is the basic knowledge.

What an investor needs before starting investing In bitcoin is to check if he has a discretionary income to use and start buying bitcoin. Being able to figure out a discretionary income is the skill you need to start bitcoin investment. Any other skills are secondary but what is most important to start with is just a discretionary income. Of course, an investor will need to possess the right financial management skill to enable him make important decisions regarding his finances so as not to waste money on things that are not really important for him thereby causing him his ability to remain a discretionary income for his bitcoin investment.

In addition, aside from discretionary income, he also needs to plan and understand his financial status and situation, which will make him set a proper Bitcoin investment allocation budget so that he will not be affected financially along the course of investing because his target can change.

Investing in bitcoin does not need rush but gradually process of bit by bit as long as it is what is within his capacity and he his ready, determined and want to invest into bitcoin because it will help him reduce stress and builds more confidence.

[ruykeri]

How do we sustain Bitcoin investment? It is most necessary to follow the strategies, invest with prudent income and create an emergency fund to sustain the investment. However, Bitcoin investment should not be aggressive, then the investment can get stuck and can face danger at any time, if you can invest 20 percent to 30% of your income or monthly salary, this will be the most ideal investment. And the person who maintains the continuity of purchase will be the person who can sustain Bitcoin investment for a long time.

Investing 20–30% of your income in Bitcoin may sound easy. in reality it is impossible for other .  And in some cases it is even dangerous in bitcoin investing. Because not everyone has the same income.Everyone has different expenses and also discretionary income too. Investing in Bitcoin should be with in discretionary income. Not a percentage of your total income. People will risk their lives by investing and later be forced to sell at the wrong time.

If someone's monthly income is $1000. But his monthly basic expenses like rent, food, all bills and other responsibilities are $900. So his discretionary income is only $100. Now if someone tells him to invest 20–30% of his income, that means $200–$300. Where will he get this money from? He will either eat less , not to pay bills, or borrow from some one , or use up his emergency fund. All of these are bad decisions, because they will ultimately force him to sell Bitcoin. The real problem here is not how much he is investing. The problem is deciding to invest based on such unrealistic percentages.

[Rabata]

Secondly,  as a newbie to Bitcoin you don't have to be aggressive from the start, invest within your capacity and little by little you would reach your accumulating target.  investing aggressively outside your discretionary income could get you stuck, especially when the market price drops.  So The safe approach is by investing the money that is made available consistently, till you figure out how to increase your discretionary income.

As a new investor, it is better not to take the risk of aggressive investment, but if he manages his investment activities normally, especially by regularly depositing Bitcoin through DCA, then he will be able to build a large portfolio in the long term. Since there are constant ups and downs in the market, those who invest regularly will definitely get good opportunities. If they invest a little more as an opportunity rather than panicking about the fall of Bitcoin from time to time, then they will definitely benefit from the investment. If an investor creates a separate fund along with his regular investment, then if there is a big fall in the market, then at that time he can use that money to invest. However, it should be remembered that such purchases should never be made with his emergency fund money. It is better to use the emergency fund only for urgent needs.

[bangjoe]

How do we sustain Bitcoin investment? It is most necessary to follow the strategies, invest with prudent income and create an emergency fund to sustain the investment. However, Bitcoin investment should not be aggressive, then the investment can get stuck and can face danger at any time, if you can invest 20 percent to 30% of your income or monthly salary, this will be the most ideal investment. And the person who maintains the continuity of purchase will be the person who can sustain Bitcoin investment for a long time.

Investing 20–30% of your income in Bitcoin may sound easy. in reality it is impossible for other .  And in some cases it is even dangerous in bitcoin investing. Because not everyone has the same income.Everyone has different expenses and also discretionary income too. Investing in Bitcoin should be with in discretionary income. Not a percentage of your total income. People will risk their lives by investing and later be forced to sell at the wrong time.

If someone's monthly income is $1000. But his monthly basic expenses like rent, food, all bills and other responsibilities are $900. So his discretionary income is only $100. Now if someone tells him to invest 20–30% of his income, that means $200–$300. Where will he get this money from? He will either eat less , not to pay bills, or borrow from some one , or use up his emergency fund. All of these are bad decisions, because they will ultimately force him to sell Bitcoin. The real problem here is not how much he is investing. The problem is deciding to invest based on such unrealistic percentages.

I think I agree, calculating percentages like that is wrong for investment, especially since we take the percentage directly from the salary we get, not from calculating decresory funds which are free money from various basic needs that have been budgeted.
As another example, if someone's income is $10k and takes 30% of it, namely $3k, to invest, while their expenses are only $1k, then what about the remaining $6k?
Suggestions like this are very useful if we already know a person's expenses and income so we can measure risk by focusing on one person, but for advice to the public with different income levels and different expenses, advice based on presentations is not suitable.

Bitcoin investments are always recommended to have a very long period of time (HOLD), therefore it is necessary to mitigate financial risks in life so that our Bitcoin investments can be safe as long as possible and this is based on smart money management to deal with various conditions that may occur.

[Popkon6]

Secondly,  as a newbie to Bitcoin you don't have to be aggressive from the start, invest within your capacity and little by little you would reach your accumulating target.  investing aggressively outside your discretionary income could get you stuck, especially when the market price drops.  So The safe approach is by investing the money that is made available consistently, till you figure out how to increase your discretionary income.

As a new investor, it is better not to take the risk of aggressive investment, but if he manages his investment activities normally, especially by regularly depositing Bitcoin through DCA, then he will be able to build a large portfolio in the long term. Since there are constant ups and downs in the market, those who invest regularly will definitely get good opportunities. If they invest a little more as an opportunity rather than panicking about the fall of Bitcoin from time to time, then they will definitely benefit from the investment. If an investor creates a separate fund along with his regular investment, then if there is a big fall in the market, then at that time he can use that money to invest. However, it should be remembered that such purchases should never be made with his emergency fund money. It is better to use the emergency fund only for urgent needs.

The longer the Bitcoin investment, the more profitable the investor will be. Because the price of Bitcoin has been corrected and has fallen sharply at the moment, those who participate in Bitcoin investment by maintaining the continuity of purchase will play the only good role. It is very easy to invest in Bitcoin by following the DCA method, and it also becomes much easier for him to maintain Bitcoin investment for a long time. If you are prudent, it is very easy to move forward with Bitcoin investment and focus on being successful.