The thing that a person needs to start investing into bitcoin is discretionary funds. He can learn about bitcoin as he goes, especially if he has common sense he can figure out the extent to which he needs to know more about bitcoin or not. There is no need to patronize people in terms of our assumptions about what we believe he needs before investing into bitcoin. Common sense and discretionary funds is enough to get started investing into bitcoin.
You’re absolutely right, Common sense and discretionary income are the very first things that is required to start investing in bitcoin, most especially a discretionary income, because you can’t buy bitcoin for free and you’re not meant to buy bitcoin with money that is meant for your expenses, and you don’t have to learn everything about bitcoin immediately or before you start investing in bitcoin, you can take your time as you’re starting to invest in bitcoin that is how you’re leaning along the way and gaining experiences on how to possibly invest in bitcoin, because bitcoin is very affordable as you can buy small small you don’t have to buy with all your money that you’ve available, just focus on having a discretionary income and you’re good to go with your investment.
Even my claim that guys only need common sense does not mean that they don't need to know anything, yet if they have discretionary funds, then they are starting from wherever they are at, and they have to figure out what they know and what they don't know so that they can adjust their beginning position size in accordance with their common sense, and if, for example, they identify that they suck at math, and they are not sure if they have discretionary funds or not, then they are going to have to spend some time figuring that out, so that they are not using non-discretionary funds to buy bitcoin.
Accordingly, guys are going to come to bitcoin from all kinds of different knowledge levels, experience levels and perhaps even misconceptions about bitcoin and/or misconceptions about investing and/or cashflow management, so they have to figure out from where they are at when they arrive into bitcoin and if they are organized enough to get started buying bitcoin right away or not, whether it is $100, $10 or some other amount. Yeah, a lot of people have common sense, yet if they are not used to investing and/or cashflow management, then they may well need to learn about those kinds of particulars as they go, and their common sense should be able to help to inform them how much they are able to start with in terms of their invested time, energy and value, even if they might choose to get started right away and to learn what they need to learn as they go and to likely keep their initial investment amounts at such a small level that they are not going to become bothered if the BTC price goes up, down or sideways while they are figuring out their future bitcoin investment amounts and also figuring out how they are going to strengthen and maintain their back up funds, to the extent that they might recognize a need to build and strengthen such back up funds that they may or may not already have at the time that they first come to bitcoin.
You’re absolutely right, Common sense and discretionary income are the very first things that is required to start investing in bitcoin, most especially a discretionary income, because you can’t buy bitcoin for free and you’re not meant to buy bitcoin with money that is meant for your expenses, and you don’t have to learn everything about bitcoin immediately or before you start investing in bitcoin, you can take your time as you’re starting to invest in bitcoin that is how you’re leaning along the way and gaining experiences on how to possibly invest in bitcoin, because bitcoin is very affordable as you can buy small small you don’t have to buy with all your money that you’ve available, just focus on having a discretionary income and you’re good to go with your investment.
Discretionary income for your investment capital is really important, and this important role is undeniable but it's not a mandate for any people to start their investment. They can start investing money in Bitcoin without having discretionary income at beginning.
Apparently, you don't know the meaning of discretionary income and/or the meaning of investing.
You have to have discretionary funds to invest in bitcoin - other wise you are gambling since if you are not using discretionary funds, then you are using money that you need for expenses..
They can start their investment with non discretionary income but they must know about important of discretionary investment capital which will trigger them to build up their finance, organize their spending and financial allocation for different purposes. Then they will come to time of having their discretionary income for investment, it's good to have it for their investment practice but it's not mandatory to have at their starts.
Holy shit you are confusing SilverCryptoBullet. You are spreading incorrect information.
Sure, you don't need to have a steady income or regular funds to get started investing in bitcoin, but you do need to have discretionary funds... otherwise you are not investing.. you are gambling.
If people always have to wait till a time of having discretionary income to invest in Bitcoin, they will be late, and it's not a good advice.
You seem to be mixing up steady income with discretionary funds. Those are different. I almost deleted your post because what you are saying is really confusing and even misleading. So many times, guys (including yours truly) are repeating that the ONLY thing you need to get started investing in bitcoin is discretionary funds.. Now you want to say that you don't even need discretionary funds.. Do you even understand what you are saying?
They can start investing money in Bitcoin without having discretionary income at beginning. They can start their investment with non discretionary income
This can be misleading mate advising newbies to invest in Bitcoin with money that is not their discretionary is bad, investing with non discretionary income is gambling which is money you can't afford to loss. Bitcoin is volatile and again profit is not guarantee so who ever investing with what that is not his discretionary income is only gambling with his money it's better not to get started if there is no discretionary income available and then get started when ever you know that you now a have discretionary income to get started with.
New investors can certainly invest in Bitcoin according to their ability, because if a new investor does not have the ability to use enough money,
he can start with $ 10 according to his ability. And later, if the investor's source of income is created, then his Bitcoin investment can increase it to purchase weekly.
In the current situation, he can start with a small amount of money for now, so he will be able to keep it for a long time. This is the best opportunity to continue investing for a long time.
You need to be clear @Popkon6 - otherwise you are making the same basic mistake as @SilverCryptoBullet - which is providing confusing and/or misleading information. In other words, the $10 amount that you mention still needs to come from discretionary funds. Otherwise putting that $10 into bitcoin is not investing, since it is needed for expenses.. It would be more appropriately labeled as gambling with money that is needed for expenses... and sure, maybe you did not mean that, but you said it because your post is confusing, which means you could be misleading some guys, to the extent that you don't know how to speak clearly.
Historically, part of the more fundamental problems from trading come from both a waiting mentality (that results in way less aggressive ongoing buying of bitcoin) and also from selling too much too soon with an asset (like bitcoin) that has had both an ongoing upwards price trajectory, and even sometimes periods of quite considerably explosive upward price movements that end up serving as an upward stair-stepping in which the BTC price doe not ever end up returning to the lower step prices that seemed to have had been ongoingly available, until those prices are never ever ever going to happen again... ..
If we also consider those that have been dismissive of Bitcoin for one reason or another, like those that think it is a scam or stuff like that into the category of waiting then it would be quite big. From one side of the perspective there are reason not to consider it into this group, but then also it should be remembered that there have been many cases of such people who were no coiners who later turned into coiners. So we could say from this perspective that they were in the waiting category, and because of their wrong beliefs they have failed to buy a lot more Bitcoin at better prices than what they could.. I would only separate people who really did not encounter Bitcoin at all from these, but these days I would be surprised to find more than a handful of people who could fall into this category. Very old people or people who don't use the internet maybe, but Bitcoin has had its rounds of being in the main media spotlight so
I expect most to have at least heard the name..
Hearing the name hardly means anything in regards to understanding what bitcoin is.
But we were not talking about understanding what Bitcoin is. We were talking about the time of old and low prices that are never going to come back, and I was merely trying to explain in connection that Bitcoin is now a widely circulated name.
it seems that we disagree about the underlying premise, and I think that it is important to point out that a lot of people do not know what bitcoin is, and perhaps many of them misconceive bitcoin as being mature merely because a lot of people talk about bitcoin and/or have used the term bitcoin, which therefore causes them to misunderstand bitcoin's possible price dynamics too.
If normies have trouble figuring out what bitcoin is, then they are also not going to understand its possible price dynamics, so then they will be mislead into thinking that bitcoin is a mature asset when it is not, and so the price dynamics of a mature asset is different from the price dynamics of an asset that is not mature.
It finds itself in a very different position that it use to be, and it is not going to go back which aligns with your own statement.
If normies have a different perception from my own, then they are going to ongoingly consider that bitcoin is "toppy" and then be discouraged in either getting started and discouraged in allocating some reasonable portion of their income (or their already existing investment portfolio, to the extent that they have an investment portfolio)
No one wants to invest "at the top" or to be exit liquidity for longer term holders, which likely is the initial impression of many normies, especially ones who have not spent more than a few hours "looking into" figuring out what bitcoin is (or might be).
We used to be in times where the word Bitcoin gave you blank stares, almost nobody has even heard about it. Now we are in the second step we could say where many have heard of it but they do not know what it does or do not understand it correctly. One day we will reach a stage where many people have heard it, understand it and know it. If you are young enough and live healthy that may happen in your lifetime.
I even doubt if our current status of progression is as great as you are making it out to be... which was part of the point that I was attempting to make in my earlier response.
Without outlining the exact profile of the guys who sold too much too soon at the various BTC price plateau points that I mentioned, part of my point is that they likely were in decently great profits at the time of their sale, yet retroactively we see that the price ended up going up and then never returning back down.. os then they are potentially turned into a bitter low coiner or worse yet, a bitter no coiner.
You are right about this for sure and I know a few examples from spending time in some of these communities. I think some people that are on that anti Bitcoin subbreddit called buttcoin are also like this. One time I was reading some big thread over there, it was basically asking them from their own community members under what condition would they admit that they have been wrong about Bitcoin?
I remember those same dumbass talking points during bitcoin's 2014 correction.
If you know hthat subbredit or not is not important, but they call it a scam in general. Basically most members wrote something in the lines of that no matter what price it reaches they will never admit to being wrong.
Sure. They will likely die no coiners, and so the bitcoin naysayers are the ones who likely should be admitting they were wrong, since in a lot of senses bitcoin has already won.. and yeah, we cannot know the exact future direction of bitcoin, even though we can probably suggest that bitcoin already won and will likely continue to win.. and yeah, there are likely going to be ongoing volatility in both directions along the way, with bitcoin continuing to go through upwards price dynamics.. at least in the longer term, even though iun the short-to-medium term there are going to continue to be ongoing battles which contributes to the price going in both directions and sometimes even irrationally so.
Just imagine how sour a person has to be about something, to be so against a specific thing? Whether it is Bitcoin or something else, that hatred and bitterness is strong.
Sometimes we might attribute them to merely trolls or shills who have been put into place by some entity, and surely in some cases they are actually real people.. so yeah, it can sometimes be difficult to believe that some of them would be real people who are acting within their genuine interests... and it tends to be difficult to verify exactly, even though sometimes there can still be value to interact with them - even though they seem to be disingenuine.
We cannot know those price points in advance, including, we cannot really know if sub $65k is ever going to be touched again, even though when we have been largely teetering between $64k and $72k for the past two months, it can become difficult to know if the ultimate breakout is going to be up or down, even though in retrospect it will seem more obvious than it does right now, as we are going through the torture of waiting.. to the extent that we are waiting... and surely, it is my position that any newbies should be ongoingly buying at these prices whether they expect more down or not, even though surely there are going to be guys who place too much likelihood on lower BTC price targets that may or may not end up getting touched upon.
These things in retrospect always look obvious, that is a trick that our brain likes to play on us. Suddenly many people pretend to have known exactly what was going to happen even if they did not use the opportunity to make life changing trades with this knowledge that they allegedly had. We must be very careful when we consider the price movements both in time span and price, so the short-term predictions are the most dangerous and so are exact prices. It is better to say it may drop another 5-10% in the coming months than to say it will be $64500 on April 20th of this year and do things in accordance with that prediction. Being too invested in these predictions opens us up for errors in our strategies of accumulation or even in selling strategies.
Overall, you are likely correct that there is nothing really wrong with having some general ideas about our expected short-to-medium BTC price directions so long as we don't necessarily get overly wedded to them, and even in the context of this thread, I tend to suggest that there are benefits for guys to not be putting too much emphasis on short-to-medium price directions, since in the first 1-2 cycles of a guy's involvement in bitcoin, he is likely going to be ongoingly accumulating bitcoin through buying bitcoin, so it may well not matter too much if the BTC price goes up, down or sideways, especially if he is investing into bitcoin from his discretionary funds as they come in from his income, and in those kinds of majority circumstances, the guy might not have very many opportunities to potentially hold back some value for buying on the dip, since perhaps he is just regularly buying bitcoin on a weekly basis or some other period that works out for his monthly schedule.
Of course, even the guy with fairly regularly monthly income might have some lump sum opportunities from time to time, and there are also guys who come to bitcoin who already have other investments, assets and/or funds that they may well need to take into account, whether they end up choosing to front load into bitcoin or merely just continue to just draw from their regular income in terms of how much bitcoin they choose to buy on a weekly basis or whatever might be their buying time increments..
Guys who have more income and/or more funds have more options, so their regular struggle and frustration might not be as great as are the struggles and frustrations of the overwhelming majority of newbie normies who are needing to ongoingly figure out how much to invest into bitcoin from their regular discretionary income from work that also includes their needs to consider how much to put into savings (back up funds) and discretionary consumption, too... so the less funds that are available to work with, then potentially the greater frustrations to allocate into bitcoin rather than using it for discretionary consumption and/or just keeping it in cash... yet surely guys like me who are investing in bitcoin and attempting to help other guys out with their bitcoin investment, we are likely frequently and ongoinly suggesting that there tends to be some value to figure out how much time, energy and value to put into bitcoin and to invest into bitcoin as aggressively that is reasonable without overdoing it.
And, of course, there are no guarantees, yet guys do have to figure out their balance and when they are struggling with their income and/or expenses, then thy may well have greater challenges as compared with guys who are not struggling with their income/expenses... yet even many of us recognize and appreciate that the mere fact that a guy is comfortable with his income situation (in fiat), that does not necessarily mean that he is going to recognize bitcoin as a prudent place to figure out ways to put some of his extra time, energy and value.
I agree, even if sometimes a move like that may work out because of sheer luck and that is a big cause of this problem. People use examples of luck to validate their ideas and beliefs, when lucky outcomes prove the opposite so that it was not a good idea.
They often do that and it is not a good thing, it leads us down a road of false expertise or being able to predict the future. From one part I understand because it is tricky if you want to be honest about it. How do I make a difference between knowing something and being lucky that my ideas were confirmed? It is not always as simple as it seems.
I am not sure if we need to know for sure, and there is likely some value in attempting to be humble since for sure many guys likely have various aspects of their life that involve good luck and bad luck, and several choices are made along the way. I recall several times preparing to be ready for certain opportunties if such opportunities were to come up, so in that regard, there may be ongoing preparation that involves preparing for various opportunities that might come about, so that if several years are spent preparing, there may be a lot of relief if such preparations end up in opportunities at a point later down the road.
So if we are tracing back our histories and/or our trajectories in life, there are likely a variety of ways in which both good luck and bad luck had played out, and there were also plenty of instances in which some of the preparations that we had made in life had set us up to be in a position to take advantage of certain opportunities when they ended up presenting themselves to us.
