JJG’s Outline of Bitcoin Investment Ideas

[Itz-prisigold]

[edited out]

Maybe if you had taken your time to read and understand my point of view, you would see some sense in what I’m saying, telling people that they don’t need even the littlest bit of financial stability before investing in bitcoin is very unrealistic and you may be pushing them to take risk that they may not be able to handle later on,

Get the fuck out of here. You are tending to repeat similar points, and you are not even making good points.

Have you read the OP for this thread?  This thread is about my ideas in investing, and yeah, I understand that in recent times there has developed quite a bit of clutter and even posters who seem to be challenged in terms of relating any of their ideas to the thread.. to the extent that you might be a real person rather than a bot.

Maybe you should tell a bit about yourself and your bitcoin journey up until now, and yeah, if you are still in the waiting territory or maybe if you are not even talking about investing or planning on investing yourself, then your theoretical posts on the topic might not be either helpful or relevant in this thread.

because you can’t expect someone that is struggling to cover their own basic expenses or doesn’t even have an emergency buffer to be investing in bitcoin, because when tough situations arise, that investment will definitely be forced out at a loss just to meet urgent needs, to me I don’t think that’s discipline, that person is just putting themselves in a financially vulnerable position.financial stability isn’t about perfection ,it’s about having a basic structure, controlled expense and at least a minimal safety net because without that ,investing can actually slow a person down financially rather than help them grow.

Ultimately, each person has to decide how much safety net that they need, and surely when a person comes to bitcoin, they may well already have a practice of either having some cash cushion or alternatively they have no cash cushion and they are starting from zero cash cushion.  And, an even worse case scenario, they may have all kinds of debt and disorganization in their cashflow management that they are having difficulties determining the extent to which they have any discretionary funds.

I frequently suggest that getting started remains quite important, since it can take some time to just get biutcoin buying systems in place and to figure out from where bitcoin are going to be sourced, yet at the same time, I also tend to suggest that as long as a newbie has assessed that they have discretionary funds, then they can get started investing in bitcoin and building up their back up funds at the same time that they build up their bitcoin investment.. .. .. yet I would not be suggesting that anyone who cannot figure out whether he has discretionary funds  get started in bitcoin, so there is a need for a determination coming from the person in regards to the actual existence of discretionary funds, and yeah, if they fuck up in their calculations, then that loss is on them, and they better get smarter and/or better at math.

Getting started is important, having discretionary funds is important, building back up at the same time as the bitcoin investment is acceptable, and if they fuck up, it is their fault. Everyone needs to take responsibility in his determinations in regards to how much discretionary funds they have and whether it is enough to get started buying bitcoin.

It's really great that you clarified things here. I also think you actually made a very good point about discretionary fund issue as well as the concept of personal responsibility. With all of the investments, including bitcoin, there are so many people who follow the rules without knowing their spending limitations.

I have learned that starting early have one of the biggest advantages, even when someone starts with small amount, it actually teaches you how to understand the market and your own financial habits at the same time. I always see people saying wait for the "prefect setup" and end up missing out on learning through experience. All these people coming into Bitcoin newly, don't know that Bitcoin accumulation is not about chasing price, but about building patience, also being discipline and the habit of thinking about financial priorities.

If someone start Bitcoin investment with their discretionary funds, it actually let people to experiment safely within their means. And actually also teaches people on how to divide their money wisely between investing, saving for emergencies, and covering everyday expenses.

And your point about responsibility truly hits hard, because it is very easy to read strategies on the forum and start assuming that they will work for everyone, but investing in Bitcoin can be only meaningful when you actively applies it to your own situation, see results and adjust when needed.

[MarjorieZimmermanGinger]

This may make them feel a little anxious about getting involved in investing because they may not have much experience in investing so they only think about what will happen if they get involved. I think it's appropriate for them to approach this by learning about ways to gain a deeper understanding of investing. Ultimately after understanding this they will invest utilizing their knowledge regardless of what they gain during their investment learning period.

The most important thing is that they understand how to investing, so they will make much better decisions. A deeper understanding of Bitcoin investment can be gained through involvement. Why are so many people too afraid to get involved in investing? They generally don't understand how and don't have a good understanding of how to invest properly. I personally didn't have a good understanding of Bitcoin when I first started, but I had a strong belief in getting involved, so I tried to take a simple approach.

Right it better to start early than sitting down waiting for the right time to invest when truly there isn’t a perfect time to invest in bitcoin instead all time are perfect to invest it just depends on the investors strategies and mindset of how to hold the investment for.
 Waiting is just us procrastinating our investment journey let start as soon as possible and keep the consistency in check with DCA method.

The question is, why wait? Is it because we lack experience or knowledge about Bitcoin, or simply don't have the money to start? If we understand the reasons, it might be much easier to explain. For those without experience, it's wrong to decide not to get involved in investing, as there are so many lessons we can learn. For those without money, they have to wait until they can use the DCA method to start which will slowly increase their assets as long as they have the desire and consistency. This all depends on the level of desire, so the decision to get involved in investing should be the first step every time they make a decision, because looking for any excuse will only make them lack the confidence to start.

[B-BossMan]

Waiting for dips to happen before buying is a bad practice because it can cause delays like you rightly said but while we are investing through a continuous process like the DCA and perhaps, the dip happens and we are able to spot it, then we can activate the reserve fund to be more aggressive in the accumulation process during such period. This now lead to the hybrid method of investing through the DCA method together with buying the dips, a method I consider effective for people who wants to achieve their target faster.

The waiting category isn't actually that bad for those who already own a lot of BTC. If they already have a lot of BTC, They tend to wait for a low price to buy. However, If we a beginner, it might be better to buy now than to wait. If we still in the Bitcoin accumulation stage, the price isn't a problem because we continuing to buy using a DCA strategy.

Sometimes small mistakes can ruin an investment, Such as frequently waiting and delaying purchases while others continue to Buy and accumulate bitcoin. We must be able to manage our way to consistently buy Bitcoin and ignore negative things happening now, Such as Fud and other events that make us Inconsistent.

Good, you actually have points here, indeed a common mistakes can actually ruins someone's investment unexpectedly. Delaying is always a dangerous decision or steps in Bitcoin investment that may turns to a regret tomorrow, expecialy when no one knows how and when the dip maybe since it's unpredictable, honestly, I see no reason strongly why some folks/ newbies are still insist on wasting their time on waiting for the perfect price dip before buying.  The facts is no body can predic or knows the exact time or day for the dip accurately, and at times the market keep moving forward while they remain stagnant for the dip, so this particular approach or steps aren't going to help in Bitcoin investment and at times I see this steps as fear of taking decisions or buying.

However, instead of them to be waiting and some opportunities may pass the by, it's be5ter to build up confidence and invest what they can afford to lose, and a safer approach is the dollar cost averaging strategy, by buying small amounts of bitcoin constantly over a period of time, this approach actually reduces the risks poor targeting time and help you accumulating gradually without fear

[Davidloki]

Ultimately, each person has to decide how much safety net that they need, and surely when a person comes to bitcoin, they may well already have a practice of either having some cash cushion or alternatively they have no cash cushion and they are starting from zero cash cushion.  And, an even worse case scenario, they may have all kinds of debt and disorganization in their cashflow management that they are having difficulties determining the extent to which they have any discretionary funds.

I frequently suggest that getting started remains quite important, since it can take some time to just get biutcoin buying systems in place and to figure out from where bitcoin are going to be sourced, yet at the same time, I also tend to suggest that as long as a newbie has assessed that they have discretionary funds, then they can get started investing in bitcoin and building up their back up funds at the same time that they build up their bitcoin investment.. .. .. yet I would not be suggesting that anyone who cannot figure out whether he has discretionary funds  get started in bitcoin, so there is a need for a determination coming from the person in regards to the actual existence of discretionary funds, and yeah, if they fuck up in their calculations, then that loss is on them, and they better get smarter and/or better at math.

Getting started is important, having discretionary funds is important, building back up at the same time as the bitcoin investment is acceptable, and if they fuck up, it is their fault. Everyone needs to take responsibility in his determinations in regards to how much discretionary funds they have and whether it is enough to get started buying bitcoin.

It's really great that you clarified things here. I also think you actually made a very good point about discretionary fund issue as well as the concept of personal responsibility. With all of the investments, including bitcoin, there are so many people who follow the rules without knowing their spending limitations.

I have learned that starting early have one of the biggest advantages, even when someone starts with small amount, it actually teaches you how to understand the market and your own financial habits at the same time. I always see people saying wait for the "prefect setup" and end up missing out on learning through experience. All these people coming into Bitcoin newly, don't know that Bitcoin accumulation is not about chasing price, but about building patience, also being discipline and the habit of thinking about financial priorities.

If someone start Bitcoin investment with their discretionary funds, it actually let people to experiment safely within their means. And actually also teaches people on how to divide their money wisely between investing, saving for emergencies, and covering everyday expenses.

And your point about responsibility truly hits hard, because it is very easy to read strategies on the forum and start assuming that they will work for everyone, but investing in Bitcoin can be only meaningful when you actively applies it to your own situation, see results and adjust when needed.

I also agree that a small amount can help investors master discipline in investment, but that will work only if they understand the fundamentals of Bitcoin, but I wont want anyone to take the risk of using a very low amount to start their investment, an amount that dont make any difference. Most beginners say they are accumulating consistently, but when the market shift begins, vaolitlity start they often abandon the strategy they started with. Responsibility lies with the investor who made up his mind to start investing early. He must combine it with consistency, and whatever his expectations are, they should be realistic, not an imagination. Otherwise, it will be seen as buying without any intent or goal. 

Risk tolerance is different. A responsibility of a beginner in Bitcoin investment is to find their own risk tolerance instead of doing what works for others. Because what works for others may not work for you.

[Sim_card]

Risk tolerance is different. A responsibility of a beginner in Bitcoin investment is to find their own risk tolerance instead of doing what works for others. Because what works for others may not work for you.

Long term bitcoin investment is the same thing about risk tolerance because what works for others will definitely work for you if you make a proper plan before getting started. Beginners should know that bitcoin is a long-term investment and should accumulate bitcoin with DCA consistently and persistently for 4-10 years and above without selling any bitcoin during your accumulation stage.

The difference between every investor is the size of their discretionary income which is the main reason why you  have to figure out your discretionary income before getting started. You are to use the right amount of discretionary income that wouldn't put pressure on you so that, you can be frequent with your weekly DCA and create an emergency funds of at least three months of your monthly expenses and other backup funds  as you have started investing to safeguard your bitcoin investment from premature sales when you're hit with real life emergency.

[alankasman]

The most important thing is that they understand how to investing, so they will make much better decisions. A deeper understanding of Bitcoin investment can be gained through involvement. Why are so many people too afraid to get involved in investing? They generally don't understand how and don't have a good understanding of how to invest properly. I personally didn't have a good understanding of Bitcoin when I first started, but I had a strong belief in getting involved, so I tried to take a simple approach.

Consequently this is true because the main thing they have to do is still understand how to invest correctly.

Therefore maybe I think many people now understand more about things like this in doing the right way to invest because if they are wrong in understanding of course the decisions they take will end up being wrong in adjusting someone's plan in doing so so this is different from someone who often relies on their way of understanding only by involving themselves too deeply so that they will be able to understand about how to invest and it is clear as you said that understanding how to invest does not need to be understood more deeply because if someone does not have the confidence that they have and this can also be said to be the core of the discussion about how to invest is only focused on the personal confidence of each person in starting it so that what is done will reach the right point in doing it.

The question is, why wait? Is it because we lack experience or knowledge about Bitcoin, or simply don't have the money to start? If we understand the reasons, it might be much easier to explain. For those without experience, it's wrong to decide not to get involved in investing, as there are so many lessons we can learn. For those without money, they have to wait until they can use the DCA method to start which will slowly increase their assets as long as they have the desire and consistency. This all depends on the level of desire, so the decision to get involved in investing should be the first step every time they make a decision, because looking for any excuse will only make them lack the confidence to start.

Things like this are appropriate for us to ask what their purpose is in waiting and why don't they do it immediately if their mind is in the right position to do it?

The problem of lack of experience or knowledge I think is not a solution that they have to answer because all parties if they already have the intention and thought are right the step they have to do is to do it without waiting to be able to understand the knowledge or experience because in my opinion experience and knowledge about Bitcoin we will get when we have involved or done so that both of these things will experience themselves over time and I have felt that how the basic experience when starting to invest with the amount of money that I have is quite limited but my confidence in my future in investing is more confident there will be results on what we do now for our future later so this is an easy question for us to answer because I have experienced something like this just only have confidence in myself when I started so that everything will be easier and experience or knowledge we will get both of these things when I have done it and for the future when doing any activity if there is an intention without waiting for me to do it because experience and knowledge teach me after I do it with full confidence.

[NewRevelation]

This may make them feel a little anxious about getting involved in investing because they may not have much experience in investing so they only think about what will happen if they get involved. I think it's appropriate for them to approach this by learning about ways to gain a deeper understanding of investing. Ultimately after understanding this they will invest utilizing their knowledge regardless of what they gain during their investment learning period.

The most important thing is that they understand how to investing, so they will make much better decisions. A deeper understanding of Bitcoin investment can be gained through involvement. Why are so many people too afraid to get involved in investing? They generally don't understand how and don't have a good understanding of how to invest properly. I personally didn't have a good understanding of Bitcoin when I first started, but I had a strong belief in getting involved, so I tried to take a simple approach.

Right it better to start early than sitting down waiting for the right time to invest when truly there isn’t a perfect time to invest in bitcoin instead all time are perfect to invest it just depends on the investors strategies and mindset of how to hold the investment for.
 Waiting is just us procrastinating our investment journey let start as soon as possible and keep the consistency in check with DCA method.

The question is, why wait? Is it because we lack experience or knowledge about Bitcoin, or simply don't have the money to start? If we understand the reasons, it might be much easier to explain. For those without experience, it's wrong to decide not to get involved in investing, as there are so many lessons we can learn. For those without money, they have to wait until they can use the DCA method to start which will slowly increase their assets as long as they have the desire and consistency. This all depends on the level of desire, so the decision to get involved in investing should be the first step every time they make a decision, because looking for any excuse will only make them lack the confidence to start.

We might not be certain why the wait, and of course, you can't really persuade people to start up there investment since they have the right to there Choices. But I think some major things that has kept people away from starting is...
1) Interest 2) some, ignorance 3) basic knowledge.... 4) while some is poverty.

Someone might be intere but has not income. Another person might be interested, have a source of income but don't know how to get started, while some may entertain fear in there minds as to not lose there money if they begin. Some has never even thought it twice due to ignorance, and so many other reasons amongst others.

But, I want to see interest as the principal thing and the motivating factor to all. If there is interest, then such a person can seek for information and see how to begin. He can sought for things to read, ask questions online, search the internet and get some informations that can be vital for him. But when there is no interest first, then starting becomes very difficult

[Barikui1]

I also agree that a small amount can help investors master discipline in investment, but that will work only if they understand the fundamentals of Bitcoin

To be disciplined in your Bitcoin investment, you don't need to understand the fundamentals as you are claiming right now, you just need to first have the ambition of going long term first, because your mindset is very important and as a discipline investor, then after that, you invest only from your discretionary income, which is a money you can do away with or what you can afford to lose, so that you wouldn't have to panic or sell prematurely when their is a dip in the market, because since it's a money you can afford to lose, your emotions will never be attached to your investment like someone that invested what he cannot afford to lose.

Risk tolerance is different. A responsibility of a beginner in Bitcoin investment is to find their own risk tolerance instead of doing what works for others. Because what works for others may not work for you.

The best way to tolerate your risk as a Bitcoin investor is to invest only from your discretionary income, which is the money left after all your basic needs have been met, because by doing so, you knows that even in the worst possible scenario, you are not going to be affected that much, since it's a funds you can do away with for a very long period of time.
Bitcoin investment is as risky as every other investment out there, but that risk can be easily mitigated when you invest only from your discretionary income, not with an amount you cannot afford to lose.

[SuperBitMan]

I also agree that a small amount can help investors master discipline in investment, but that will work only if they understand the fundamentals of Bitcoin

To be disciplined in your Bitcoin investment, you don't need to understand the fundamentals as you are claiming right now, you just need to first have the ambition of going long term first, because your mindset is very important and as a discipline investor, then after that, you invest only from your discretionary income, which is a money you can do away with or what you can afford to lose, so that you wouldn't have to panic or sell prematurely when their is a dip in the market, because since it's a money you can afford to lose, your emotions will never be attached to your investment like someone that invested what he cannot afford to lose.

The only thing you need to understand about bitcoin is how to accumulate bitcoin And hold this is the basic and fundamental of Bitcoin investment, yes, you are correct when you have the correct mindset you will succeed in your bitcoin investment, someone we ask what are the correct mindset I should have in order to succeed in bitcoin investment? The correct mindset you should have in order to succeed in your bitcoin investment are
1. Consistency: in order to succeed in bitcoin investments you must be consistent in accumulating bitcoin if you are consistent you will have a good amount of bitcoin at the end of the day, which will give you Better profit in the future.
2. Patience: you must be patient in holding your bitcoin because it is a long time investment so you must have the patience to hold your bitcoin for a very long time without patience you cannot hold for a long time so you need to have this at the back of your mind that you must be patient and hold for a very long time.
3. Management: you must be ready to know how to manage your finance very well you cannot be eating in a fancy and costly restaurants when you can comfortably buy food stuff and cook in your house however, you can eat out but make sure it won’t affect your finance.
Just know how to manage your money very well.

[iamsange]

The most important thing is that they understand how to investing, so they will make much better decisions. A deeper understanding of Bitcoin investment can be gained through involvement. Why are so many people too afraid to get involved in investing? They generally don't understand how and don't have a good understanding of how to invest properly. I personally didn't have a good understanding of Bitcoin when I first started, but I had a strong belief in getting involved, so I tried to take a simple approach.

They may be afraid of their limited knowledge but if they do it without considering such things they will experience and gain knowledge once they dive in. Waiting while contemplating their knowledge is for us, a wrong decision. If they don't think about it we believe they will gain extraordinary experience and knowledge as long as they continue without thinking about things that can make our minds increasingly closed to less important thoughts thus delaying investment. Therefore in this case I believe the decision to delay or start is up to each of us.

[Tongley]

I also agree that a small amount can help investors master discipline in investment, but that will work only if they understand the fundamentals of Bitcoin, but I wont want anyone to take the risk of using a very low amount to start their investment, an amount that dont make any difference. Most beginners say they are accumulating consistently, but when the market shift begins, vaolitlity start they often abandon the strategy they started with. Responsibility lies with the investor who made up his mind to start investing early. He must combine it with consistency, and whatever his expectations are, they should be realistic, not an imagination. Otherwise, it will be seen as buying without any intent or goal. 

Risk tolerance is different. A responsibility of a beginner in Bitcoin investment is to find their own risk tolerance instead of doing what works for others. Because what works for others may not work for you.

If a person does not have basic knowledge about Bitcoin, then it is wrong for him to start investing. Among the things that a person needs to start investing, the most necessary is basic knowledge about Bitcoin. To start investing, we need basic knowledge and a source of discretionary income. If a person has this content, then it is not a good decision for him to wait to start investing. After starting investing, he can continue investing and gaining knowledge in parallel.

If a person has basic knowledge and a source of discretionary income, but if he is risk-tolerant or afraid of market volatility, then it will be wise for him to start investing with a small amount of money. When he starts investing with a small amount of money and sees market volatility, he will gradually become risk-tolerant.

[Qhunman]

The only thing you need to understand about bitcoin is how to accumulate bitcoin And hold this is the basic and fundamental of Bitcoin investment, yes, you are correct when you have the correct mindset you will succeed in your bitcoin investment, someone we ask what are the correct mindset I should have in order to succeed in bitcoin investment? The correct mindset you should have in order to succeed in your bitcoin investment are

In bitcoin investment,one only need basic knowledge and discretionary income to get started and start accumulating bitcoin over the long term,as they invest, they will learn new things and their knowledge in bitcoin will gradually improve. There is no guarantee in bitcoin. even if we are consistent and aggressive towards bitcoin there is no guarantee that one will succeed in his bitcoin investment. Since there is no guarantee that you will  succeed in the long run,that is why you must accumulate bitcoin using discretionary income so that if anything bad happens to bitcoin in the future, you will not be traumatize.

[Futurexxx]

1. Consistency: in order to succeed in bitcoin investments you must be consistent in accumulating bitcoin if you are consistent you will have a good amount of bitcoin at the end of the day, which will give you Better profit in the future.

You are 100% right about this, because without being consistent in your weekly or monthly accumulation, you can't accumulate a reasonable stash of Bitcoin that will make you to be a huge success, since the since the size of your Bitcoin stash determines how successful you are going to be later in the future when Bitcoin has gone up to a million dollars or more.

2. Patience: you must be patient in holding your bitcoin because it is a long time investment so you must have the patience to hold your bitcoin

You are right, patience is very important, but it's not enough for your bitcoin investment to be a success if you don't put down measures like emergency and reserve funds in place to protect and safeguard your Bitcoin holdings.

3. Management: you must be ready to know how to manage your finance very well you cannot be eating in a fancy and costly restaurants when you can comfortably buy food stuff and cook in your house however,

Of course, you can never succeed in anything finance if you don't know how to manage money kept in your care, because how we spend money defines us as an individual.

[cyberninja2]

You are right, patience is very important, but it's not enough for your bitcoin investment to be a success if you don't put down measures like emergency and reserve funds in place to protect and safeguard your Bitcoin holdings.

Because patience has its limits especially when it comes to achieving success we need to have a reserve fund as a tool to help us when our Bitcoin investment position doesn't reach our desired level. Having an emergency fund ensures we don't have to dip into our investment which we've sometimes accumulated over several years. This means that our investment is safe with a reserve or emergency fund which acts as a tool to protect our invested Bitcoin eliminating the need to sell it. This is because this fund serves as a safeguard for our accumulated amount ensuring that our Bitcoin holdings remain intact secure and protected.

[B2Z]

And secondly, saying a person should not set a specific time before starting actually contradicts how discipline works. People need to understand that discipline doesn’t stem from vague intentions alone ,it requires a clear structure because that’s what sustains it.

You don't need a special preparation to start your bitcoin investment because time isn't at your side. If you want to wait for the appropriate time to start, you might not be able to start early and you will keep on procrastinating till you lose interest in bitcoin. Provided you have a discretionary income and have the basic knowledge of bitcoin, you can start immediately and learn how to be disciplined on your weekly DCA.

If an investor thinks that he will invest in Bitcoin at the right time, then he will never be able to decide the right time to invest because no one can say which way the market will move next, so the right time will never come to the investor to invest.

You are realistic that there is no need to plan much for investment, but an investor can start investing with some general ideas about investment and some ideas about wallets and other things.
After starting the investment, the more the investor is involved in the investment, the clearer his idea about the investment will be, that is, if the investor starts investing quickly, then gradually he will be able to get a better idea about the investment, as well as his investment will continue to be continuous. Yes, by adopting the DCA investment strategy, an investor can easily continue to invest weekly or monthly or in any way he wants because in the DCA investment strategy, the investor can understand his income, income, expenses and extra money and make investment decisions, due to which the investor enjoys this investment and moves forward in holding it for a long time.

We mustn't learn everything before getting started, you can get started, and practice how to be consistent after you have studied your own cash inflow and figured it out, you can learn financial management as your are investing and building your bitcoin portfolio. Being focused and serious about your bitcoin investment will bring discipline with time.

Yes, as I said, it is not necessary to know everything about investing, but if an investor has the ability to choose the right coins for investment, understands the security system of the wallet, has patience, and can keep himself calm with minor changes in the market, then an investor can start investing in a new situation.

[Moreno233]

The only thing you need to understand about bitcoin is how to accumulate bitcoin And hold this is the basic and fundamental of Bitcoin investment, yes, you are correct when you have the correct mindset you will succeed in your bitcoin investment, someone we ask what are the correct mindset I should have in order to succeed in bitcoin investment? The correct mindset you should have in order to succeed in your bitcoin investment are

If you only know about how to accumulate Bitcoin without knowing how to sustain and protect that investment, you will fail as an investor. A lot of us started this way and ran into problems because we thought it was just about buying with every money we have without knowing that there are things that must be put in place before the investment can be protected. For instance, if you are unable to define discretionary income from which you are to make your investment, you may likely invest money meant for basic needs which is not right. In addition, if you want to hold for long, which is the right thing, then emergency funds need to be set up to protect the investment. These understanding are needed to be successful as a Bitcoin investor. Knowing how to accumulate is good but it does not end there, you need to protect the investment and even make it ongoing to achieve good target in terms of the quantity.