JJG’s Outline of Bitcoin Investment Ideas

[Silikiem]

As a new investor that is about to start his Bitcoin accumulation, digging deeper and seeking more knowledge through research shouldn't be a priority because that may delay your accumulation or your ability to start, so as long as you have the basic knowledge on Bitcoin and how to accumulate it, starting right away once you discretionary income is available is the best thing to do because you can actually seek further knowledge while at it, than waiting and wasting your time, saying that you have to know it all first before starting, because by doing so, you may not even start at all due to procrastination.

You're right there is no need digging deeper to gain absolute knowledge about bitcoin because no one can know everything about bitcoin. Bitcoin bitcoin hasn't stop growing and improving so digging deeper is nonsense because at the end of it you still won't know everything about bitcoin and that would hinder you from accumulating bitcoin. If an investor keep researching bitcoin when they haven't accumulated any bitcoin they might never accumulate bitcoin at all because bitcoin knowledge is infinite. Instead of wasting time researching to know everything about bitcoin before investing in bitcoin,they should acquire basic knowledge and discretionary income first, as they invest ,their knowledge will gradually improve.

I don’t know what someone who’s serious and desirous to invest in bitcoin will still be digging about bitcoin, but what ever it is that they are digging it shouldn’t be a reason why they should delay buying bitcoin especially if they have the discretionary income available. It only takes someone who’s serious and desirous to invest In bitcoin just a discretionary income for the person to start buying bitcoin. So In this regard digging dip is not really an excuse neither is it stopping you from buying bitcoin as you can always be buying the bitcoin and still dig whatever it is you’re digging

[JayJuanGee]

I don’t think digging deeper is a problem here, some persons want adequate knowledge before starting there investment journey and is also good ,

Folks are very well entitled to whatever decision they think is best for their investments...
But mind you, seeking adequate knowledge before kickstarting your investment is practically a waste of time, and that's coz Bitcoin is best understood through an actual experience which is very well gotten through actual involvement ( not through digging deeper prior to starting which is in your assertion).. And dso once folks have available their discretionary income and then some basic knowledge, they could very well begin and while going they are learning and building up their understanding...

We also would be exercising better judgement to adjust the amount that we put into bitcoin in accordance with our comfort level.. so yeah, we hardly have to know anything, except our ability to calculate that we have discretionary funds and then to be able to have basic intelligence of what is included in common sense, which largely means that we would identify how much we want to put in each week.. and what areas we need to learn about whether it relates to our own cashflow management practices or anything that we might think that we need to (or want to) know about bitcoin, and even folks with common sense may well make various mistakes from time to time, since they improve their common sense by practice, so for example if a bitcoin newbie is quite sure that he has an extra $100 per week that he could put into bitcoin without any worries about the $100, since it is clearly extra money, yet that same person knows that bitcoin and investing is new to him, so he may well purposefully choose to start with $30 per week while he is getting used to the idea. and then also considering that he has to make sure that he has back up funds too.. so it may well take him several weeks investing at $30 per week before he is ready to raise to $50 or $60 per week and maybe even a few months before he gets his weekly buys up to $100 per week... and the whole time he is practicing and figuring out how much time he is able to put into his learning about bitcoin investing and strengthening his cashflow management.

So what you are saying is that at the initial stage, an investor is permitted to use all his his discretionary income and buy bitcoin at the initial stage of his accumulation and when he has stack up certain amount of bitcoin, he can start saving up for emergency funds? Wouldn’t it be better if the investor setting aside little amount from that initial discretionary income he is starting his investment with and start saving up for emergencies, knowing fully well that emergencies can come up at any time right after he has started his investment.

The best approach is for a new investor without any form of backup funds available before he decides to start his bitcoin investment is for him to divide his discretionary income into three equal parts. The first part should be for his weekly DCA, the second part for building his emergency funds and the last part for his discretionary consumption.

If you want to use all your discretionary income to invest in the beginning, it will be a problem because in reality ut wouldn't work since you don't need to deprive yourself from your discretionary consumption. Lastly, you need to build your emergency funds simultaneously with your bitcoin investment because you might be hit with a real life emergence one month after you have started your bitcoin investment, where will you get money from but to sell your bitcoin.

If a person is starting out investing into bitcoin without any or much of any back up funds, and if he is building up his back up funds at the same time as he is building up his bitcoin, his earliest creation and building up of back up funds is not going to be able to protect him from very much beyond small irregularities in cashflow such as lowered income and/or increased expenses that are not too crazily out of bounds.. so it takes time to build up the back up funds to get to a size that there will be decently large confidence of no need to tap into the bitcoin.. so each of us has to figure out how much we are able to build up each of those funds (the back up funds and the bitcoin investment), and so yeah, there are going to be more risks for guys starting out investing in bitcoin with absolutely no back up funds.. ..

yet each of us also has to figure out how to start from where we are at and to start investing in bitcoin as soon as possible, even if it is a small starting out amount, yet if we do not have a sufficient amount of confidence that we really do have discretionary funds based on expectations of shortages in income or excessive upcoming expenses, then we may well not be in a position to get started buying bitcoin until we are sure that we have discretionary funds and that we are relatively comfortable that we are not going to need that value that we put into bitcoin for 4-10 years or longer into the future... and surely the longer that we are building both our bitcoin investment and our back up funds, then the more confidence that we will have that we have more and more cushion from shortfalls in our income and/or increases in our expenses..

So for example, even a guy who may have had income of $500 every two weeks and $350 of expenses, then he ONLY has $150 in his discretionary funds, so maybe he puts $50 into his bitcoin investment $50 into his back up funds and he discretionarily consumes the remaining $50, so then after a year, he would have has put $1,300 ($50 x 26) into bitcoin investment, $1,300 into his back up funds and $1,300 for discretionary consumption, so even at that time, since his expenses are about $760 per month, he had ONLY saved up a little less than 2 months of his expenses, even though after a year, he is in a way better position than he was in when he started out investing into bitcoin.

So what you are saying is that at the initial stage, an investor is permitted to use all his his discretionary income and buy bitcoin at the initial stage of his accumulation and when he has stack up certain amount of bitcoin, he can start saving up for emergency funds? Wouldn’t it be better if the investor setting aside little amount from that initial discretionary income he is starting his investment with and start saving up for emergencies, knowing fully well that emergencies can come up at any time right after he has started his investment.

What most investors do not know is that emergency situation doesn't ring a bell before coming, so as a Smart Bitcoin investor that knows what he or she is doing, putting your emergency and reserve funds in place while accumulating consistently is the best, because at that point, your Bitcoin investment is not vulnerable to any emergency situation that may arise.
So I will recommend that while investing in Bitcoin from your discretionary income, you should invest with 60% of your discretionary income, 20% for emergency funds, 10% for reserve funds and the remaining 10% for consumption, because that is one aspect you can't avoid, no matter how you try.

Your back up funds are likely to help to deal with fluctuations in the cashflow, and surely the longer that the backup funds are being built up, the more shortage of cashflow situations, they will be able to address, but they are not going to provide complete insurance to protect the bitcoin holdings, especially in the first year or two of building them up.

In fact, the basic principles of Bitcoin investing are to have a source of income, discretionary income, and an emergency fund that will allow you to invest regularly and become self-reliant.

When all three are in place, it becomes much easier to invest regularly and stay consistent but to start investing you don't necessarily have to put all in place. Discretionary income is the most important that's required before you start investing, all others can be arranged with your investment on the way.
Source of income helps to maintain a consistent accumulation while emergency funds protect your investment and keep them running for a long period of time but they don't stop you from getting started, with discretionary income available you should invest right away and worry about the others later build up the others as you go without letting them hamper you from getting started investing in bitcoin.

Fixed that for you.
For example if a person comes to bitcoin  and they have absolutely no source income.. but they have some money that they consider to be sufficiently enough to get started investing in bitcoin, and so yeah they can get started, and hopefully they are not using all of their money, since they likely have to consider their expenses and how long they are able to continue to pay for their expenses without having any source income.. so they have to make sure that they have funds to ongoingly pay their expenses, at least until the next point that they are likely to receive some additional income.

Circumstances are going to vary, and surely a persons age, living situation, life experiences, skills are all going to affect their expectations regarding future income and/or their abilities to increase income and/or cut expenses... so that they might either be able to continue to buy bitcoin or at least not have to sell any of the bitcoin that they had already bought at a time that is not completely at their own choosing.  So then each week, or whatever time interval they are considering to buy bitcoin, they have to figure out the extent to which they continue to have discretionary funds and/or if their future income/expenses situation had changed from the previous week that might change the extent of their confidence of their having sufficient discretionary funds.

I really appreciate you taking time to correct and refine that part. Your addition make my post more clearer and practical. it makes the advice more complete.

You're absolutely right, this is a more realistic approach to invest. The main idea is sustainability, where you need to consider how long the money will sustain you to invest and settle your needs when you don't have any source of income. So it means any money you have shouldn't only serve your investment purpose but also serve as your expenses for as long as you get to receive another income. Investing too aggressively without a source of income will be too careless and will affect your investment along the line. Without any source we have to keep evaluating how much we put into Bitcoin based on available discretionary funds.

Yep.. I was worried that the way you had originally phrased the matter may well cause some guys to NOT give any attention to their simultaneous building of the bitcoin investment and the back up funds, and to at least take into account where there other funds are at and to act accordingly.

So, for example, it may be different for a guy who had been using his discretionary income for several two week periods of $50 into each of the areas of 1) investment 2) back up funds and 3) discretionary consumption, as compared with a guy who might have had come to bitcoin and he already had $400 in his back up funds.. so maybe the guy who has $400 in his back up funds, he might want to put greater emphasis on building his bitcoin and to add to his back up funds at a lower rate, yet at the same time, the ultimate decision remains for the guy to figure out, and he might purposefully choose to vary his amounts based on his calculations and reassessment every two weeks to figure out how much he wants to put into each.. and even if he delays with building his back up funds until his bitcoin has the same amount $400, he is not completely ignoring the three categories.  He is attempting to pay attention and to be proactive about the matter.

There may be some other guys who don't really want to think about it.. so they might come up with some formula and invest the same percentages into each, every two weeks... so that way they don't have to think about it (even though they thought about it when they created the formula), and then maybe to reassess how their formula is working for them after 4-ish months of employing their formula.

[B-BossMan]

Digging too deeply into knowledge can also be a problem as it will certainly take a lot of time to dig deeper which will result in a longer delay in starting to invest. This can also sometimes be more busy with things that are not entirely appropriate. As you said there's nothing wrong with digging into knowledge but use the time to continue investing because we can dig up this knowledge while investing whether weekly or even monthly.

Seeking more knowledge can only be a problem when one has discretionary income and still hesitate to invest thinking what he knows is not enough. But in the absence of discretionary income digging dip to learn can not be a problem. He's simply preparing himself ahead while sourcing discretionary income.

I actually get your points, but at some stage we need to ask ourselves what exactly are we digging for?  And does that even necessary? Actually there a difference between one should learn the basic and getting stranded in endless research that doesn’t translate into action. Once your discretionary income is ready, the main priority should be investing it into bitcoin instead of waiting or wasting time for digging deeply. Honestly speaking, investing your funds yourself is the best teacher, because the more you consistently invest,the more practical knowledge you gain with experiences. It would be better to start investing steadily, even in small amounts you can invest by using DCA strategy, just invest what you can afford to lose. Newbies can still learn along the way as time goes on, build confidence and patience, buy and hold for long-term growth, no waiting to know everything first before investing in bitcoin.

[alankasman]

Seeking more knowledge can only be a problem when one has discretionary income and still hesitate to invest thinking what he knows is not enough. But in the absence of discretionary income digging dip to learn can not be a problem. He's simply preparing himself ahead while sourcing discretionary income. As soon as we have discretionary income at our disposal we should put on hold our learning process and  invest immediately and continue the learning process while investing.

The problem stems from delaying starting to invest even though if we don't overthink useless things it's certainly better to gain knowledge by investing. We will also gain knowledge through our investments. This doesn't require seeking knowledge first before starting. It's clear that our own mistakes are self-inflicted by not continuing to pursue our desire to start investing. Our minds are sometimes still very hesitant about doing so without more knowledge. This is what makes it difficult for many people to start/invest in Bitcoin.

You're right we better understand Bitcoin when we actually engage in it practically so digging deeper might actually be a waste of time but only if discretionary income is available and you hesitate to invest. But without discretionary income digging deeper might not be a total waste of time as no knowledge is waste.

As I said before by getting involved in investing our knowledge will be more complete based on what we know during our initial stages. This means it's better to continue investing because once we're involved we'll understand more about how we should actually proceed when we start investing in Bitcoin. Another reason is that if we're too busy digging for knowledge without actually taking action it's clear as you said, that we're wasting time digging for knowledge without taking action or continuing to invest in Bitcoin. This is what may always hinder all parties who think in directions that are not beneficial for themselves or their personal future when starting to invest.

[Olatundespo]

We also would be exercising better judgement to adjust the amount that we put into bitcoin in accordance with our comfort level.. so yeah, we hardly have to know anything, except our ability to calculate that we have discretionary funds and then to be able to have basic intelligence of what is included in common sense, which largely means that we would identify how much we want to put in each week.. and what areas we need to learn about whether it relates to our own cashflow management practices or anything that we might think that we need to (or want to) know about bitcoin, and even folks with common sense may well make various mistakes from time to time, since they improve their common sense by practice, so for example if a bitcoin newbie is quite sure that he has an extra $100 per week that he could put into bitcoin without any worries about the $100, since it is clearly extra money, yet that same person knows that bitcoin and investing is new to him, so he may well purposefully choose to start with $30 per week while he is getting used to the idea. and then also considering that he has to make sure that he has back up funds too.. so it may well take him several weeks investing at $30 per week before he is ready to raise to $50 or $60 per week and maybe even a few months before he gets his weekly buys up to $100 per week... and the whole time he is practicing and figuring out how much time he is able to put into his learning about bitcoin investing and strengthening his cashflow management.

You are absolutely right. Those who are still learning Bitcoin will want to accumulate Bitcoin conservatively if they have extra funds. As you said, if they have $100 extra funds per week, they will start with $30 initially. It is correct and realistic that it will take several months for new investors to work up the courage to accumulation Bitcoin with the full amount of $100 extra.

We do not need to know much to start Bitcoin if we have discretionary income available. That amount of funds is countable and will continue to increase the amount of Bitcoin accumulation as the income increases.
The person you gave as an example will continue to gain more experience through the practice of accumulating Bitcoin and he will continue to make sincere efforts to move to the over accumulation Bitcoin stage in the future.

[Odohu]

We do not need to know much to start Bitcoin if we have discretionary income available. That amount of funds is countable and will continue to increase the amount of Bitcoin accumulation as the income increases.
The person you gave as an example will continue to gain more experience through the practice of accumulating Bitcoin and he will continue to make sincere efforts to move to the over accumulation Bitcoin stage in the future.

This statement is not completely true and it appears misleading if we look at it critically. It is right to say that a beginner does not need to know much about Bitcoin to get started as an investor. But with time, you will begin to understand the reason we need good knowledge of Bitcoin. Some of the reasons a good knowledge of Bitcoin is important is to be able to protect our investment from security breach, to be able to manage our bankroll correctly and last but not the least, to know the potential of Bitcoin so that we are not mislead by experts and those spreading FUD about Bitcoin.

I still remember reading several articles of people spreading the wrong information about Bitcoin with some even claiming that there are vulnerability in Bitcoin that will lead to its collapse. It requires good knowledge to be able to reject these information and hold on to your Bitcoin portfolio without panic. There are several instances in which knowledge of Bitcoin will be very useful for the investor who have spend years building his Bitcoin portfolio and such knowledge are needed to be able to protect that investment. Like I said before, to get started requires just basic knowledge but an experienced investor is one that is also knowledgeable about Bitcoin to some extent.

[ZeroVinsonN]

You are wrong.  The main thing that a bitcoin newbie needs to learn and/or know before getting started investing in bitcoin is whether he has discretionary funds that he considers to be enough to put into bitcoin for 4-10 years or longer, and he does not even need to commit to 4-10 years or longer at the time that he gets started investing in bitcoin.  

If the newbie has discretionary funds he can get started investing in bitcoin, and he can learn the other matters related to bitcoin investing and cashflow management (to make sure that he is not investing beyond his discretionary funds) that he needs to know as he goes.  

Having discretionary income for investment is good and very important for any investment practice, but people as newbies must learn about importance of using discretionary income so that they see with discretionary income for investment capital, they will have less fear of losing it and less fear during volatile times in any market.

They also have to learn about Bitcoin market, the market cycle to know that how long one market cycle lasts, which phases in each market cycle because it is helpful for their investment plan from purchasing, holding to taking profit time, at least minimal time for holding till taking profit.

They have to learn about Bitcoin market volatility too so they can understand that which percent is a highest price change in a market crash or during a period in Bitcoin market history. So they will become mentally stronger during such times because they already have past data for comparison and preparation mentally.

Just looking at bitcoins history over the past couple of years will provide anyone with all the data the need on how bitcoin has performed, understanding that bitcoin is volatile is also very important but there isn't much to learn on how volatility works, or at least an investor doesn't need to dig too DIP before they can start investing,  especially when it comes to analyzing the bitcoin market cycle to see when it's the best time to buy and when it's t r best time to take profit from their investment, this behaviour is definitely not what you will see in an investor but instead in a trader, bitcoin investment is long term, the moment you decide to do it short term you have already declared yourself to be a trader and if you are investor doing it long term then you have no practical reason to try to learn about the market cycles, how the move and how long they last in an attempt to figure out the best time to buy, everytime is best to buy for an investor especially when that investor is investing using the DCA.

Anyone who is digging much to have a knowledge about bitcoin is really wasting time because in bitcoin investment those knowledge they are seeking or looking for are not really necessary. people that always dig so much to know or understand everything about bitcoin are folks that want to mess around with bitcoin but most times bitcoin always prove them wrong that they can not mess around with it and go free and that is the reason why we should not think of trading or gamble with bitcoin because the possibility of us losing our money is very high and the trauma that do comes after loss can be unbearable sometimes.

There is absolutely nothing wrong with gaining more knowledge about bitcoin, this forum alone has been a source of a tremendous amount of bitcoin related knowledge for me and I'm glad I was able to acquire this much knowledge about bitcoin and bitcoin investment from this forum.
That said, I do think it's wrong to delay one's own bitcoin accumulation on the account of not having enough knowledge about bitcoin yet, you don't need to know much about bitcoin to understand how investing in bitcoin works, with good effort 2 hours spent on learning the basics of bitcoin investment and you would have already gathered about enough knowledge to kickstart your investment journey, the problem with knowledge gathering comes from when people decide to spend way too much time delaying their investment under the pretence of wanting to gather more knowledge to prevent them from making mistakes, the mistake there is wasting time and claiming it's the right thing to do.

[Negotiation]

We do not need to know much to start Bitcoin if we have discretionary income available. That amount of funds is countable and will continue to increase the amount of Bitcoin accumulation as the income increases.
The person you gave as an example will continue to gain more experience through the practice of accumulating Bitcoin and he will continue to make sincere efforts to move to the over accumulation Bitcoin stage in the future.

This statement is not completely true and it appears misleading if we look at it critically. It is right to say that a beginner does not need to know much about Bitcoin to get started as an investor. But with time, you will begin to understand the reason we need good knowledge of Bitcoin. Some of the reasons a good knowledge of Bitcoin is important is to be able to protect our investment from security breach, to be able to manage our bankroll correctly and last but not the least, to know the potential of Bitcoin so that we are not mislead by experts and those spreading FUD about Bitcoin.

I still remember reading several articles of people spreading the wrong information about Bitcoin with some even claiming that there are vulnerability in Bitcoin that will lead to its collapse. It requires good knowledge to be able to reject these information and hold on to your Bitcoin portfolio without panic. There are several instances in which knowledge of Bitcoin will be very useful for the investor who have spend years building his Bitcoin portfolio and such knowledge are needed to be able to protect that investment. Like I said before, to get started requires just basic knowledge but an experienced investor is one that is also knowledgeable about Bitcoin to some extent.

Your words are especially important, that while basic knowledge is enough to get started there is no substitute for deep knowledge to survive and protect your portfolio. In fact knowledge is the best protection in this world of cryptocurrency when panic spreads in the market ordinary investors get scared and sell their assets at low prices. But anyone who has an idea about the technical basis of bitcoin knows that temporary negative news or a person's personal opinion cannot change the long term future of bitcoin. Also due to lack of knowledge many people make big investments at the wrong time due to emotions but an experienced person knows when to wait and how to be patient.

[cyberninja2]

This statement is not completely true and it appears misleading if we look at it critically. It is right to say that a beginner does not need to know much about Bitcoin to get started as an investor. But with time, you will begin to understand the reason we need good knowledge of Bitcoin. Some of the reasons a good knowledge of Bitcoin is important is to be able to protect our investment from security breach, to be able to manage our bankroll correctly and last but not the least, to know the potential of Bitcoin so that we are not mislead by experts and those spreading FUD about Bitcoin.

More knowledge is necessary but it shouldn't delay investment. Investing also provides experience and knowledge. However not many people go to such lengths to delve into detailed knowledge or understanding before starting to invest in Bitcoin. Even if some do it's certainly a way of delaying the path to success they will one day achieve.

Consequently it is not too deep to know how to invest in Bitcoin that must be done because every activity experienced by a person whether working in the government something will be understood based on the activities carried out every day and as time goes by of course more knowledge will be gained about what we do as usual it is also the same with someone in investing in Bitcoin only time determines the knowledge that will be obtained as long as the person is still involved in the work we do.

[Roggeredek]

More knowledge is necessary but it shouldn't delay investment. Investing also provides experience and knowledge. However not many people go to such lengths to delve into detailed knowledge or understanding before starting to invest in Bitcoin. Even if some do it's certainly a way of delaying the path to success they will one day achieve.

I completely agree with you but I would like to add something to you that no one starts investing with complete knowledge or experience, everyone starts from a small amount, those who have invested in Bitcoin and have benefited in the past years are people who have invested in Bitcoin consistently, that is why they have been able to earn good profits today. After people start investing, people gradually become experienced and people start gaining detailed knowledge, so I would say that first you should start investing in Bitcoin, no matter how small the amount is.

[Crytohillss]

I don’t think digging deeper is a problem here, some persons want adequate knowledge before starting there investment journey and is also good ,
 and building up their understanding...

I think the part way people over look is that it's not truly about going in with big amount it is more about creating the habit and knowing your own finances first, beginning little while one figure things out is actually smart way than pushing in Just because you can afford more,  confidence and knowledge grow. its easier to scale up without feeling pressured or making emotional or bad  decisions.

[Brizi5000]

We do not need to know much to start Bitcoin if we have discretionary income available. That amount of funds is countable and will continue to increase the amount of Bitcoin accumulation as the income increases.
The person you gave as an example will continue to gain more experience through the practice of accumulating Bitcoin and he will continue to make sincere efforts to move to the over accumulation Bitcoin stage in the future.

This statement is not completely true and it appears misleading if we look at it critically. It is right to say that a beginner does not need to know much about Bitcoin to get started as an investor. But with time, you will begin to understand the reason we need good knowledge of Bitcoin. Some of the reasons a good knowledge of Bitcoin is important is to be able to protect our investment from security breach, to be able to manage our bankroll correctly and last but not the least, to know the potential of Bitcoin so that we are not mislead by experts and those spreading FUD about Bitcoin.

I still remember reading several articles of people spreading the wrong information about Bitcoin with some even claiming that there are vulnerability in Bitcoin that will lead to its collapse. It requires good knowledge to be able to reject these information and hold on to your Bitcoin portfolio without panic. There are several instances in which knowledge of Bitcoin will be very useful for the investor who have spend years building his Bitcoin portfolio and such knowledge are needed to be able to protect that investment. Like I said before, to get started requires just basic knowledge but an experienced investor is one that is also knowledgeable about Bitcoin to some extent.

for me this should even be the more reason why folks should just get started in buying bitcoin so that they can know all this challenges you talked about. had it been that you in particular have not been buying and investing in bitcoin even before reading all those articles spreading wrong information about bitcoin investment dont you think that there is every possibility that you will believe those write ups and you as a result of that will be discouraged and  decide not to have anything do with bitcoin investment. But since you are already in the business of buying and investing in bitcoin, you seem to know better due to the experience youre having as you are ongoingly buying and investing in bitcoin such that even if you read those wrong information about bitcoin you will just smile because you already know how it works.

so, it is advisable for folks to get started immediately in buying and investing in bitcoin once their discretionary income is ready, they shouldnt wait or delay to start their investment simply because they want to read and gain more knowledge about bitcoin because at the end of the day they might end up getting discouraged to even invest in bitcoin due to some of this wrong information they read from articles in their quest to wanting to know more and gain more knowledge about bitcoin before they could start to invest.

one cannot be called an experienced investor when youve not been buying bitcoin and holding for years, having knowledge about bitcoin doesnt mean the person is experienced in bitcoin investment because most of those knowledge you have could be misleading and wrong knowledge just like the ones you  said you read from articles, most of them writing those articles have not bought bitcoin before, its just what they have been reading on internet or stories people told about bitcoin.

[Rockson1]

More knowledge is necessary but it shouldn't delay investment. Investing also provides experience and knowledge. However not many people go to such lengths to delve into detailed knowledge or understanding before starting to invest in Bitcoin. Even if some do it's certainly a way of delaying the path to success they will one day achieve.

Why the drama, do anybody argue that more knowledge is not needed? But it doesn't have to come first before the investment, Some of us has always been on the side that advanced knowledge shouldnt be a barrier that will cause delay and anotherthing is that at what point do we need this more knowledge, we do not actully need that much knowledge to start investing in Bitcoin, as I can remember every newbie need just basic knowledge, discreationary income to start acumulating Bitcoin through the DCA strategy.
There is no need of going more advanced to know everything from one day, I do not think it is ideal, Bitcoin investment has an approach, whoever that considers having the full understanding of everything from the beginning before they can start investing may not be doing himself any good for reasons we know.

[Princess Leah]

I don’t think digging deeper is a problem here, some persons want adequate knowledge before starting there investment journey and is also good ,
 and building up their understanding...

I think the part way people over look is that it's not truly about going in with big amount it is more about creating the habit and knowing your own finances first, beginning little while one figure things out is actually smart way than pushing in Just because you can afford more,  confidence and knowledge grow. its easier to scale up without feeling pressured or making emotional or bad  decisions.

If one is a newbie but has more to allocate to their discretionary funds, that's fine othing stops anyone from investing according to their income, it doesn't matter whether the person is a newbie, so far investors allocate funds that won't hinder them from meeting up other expenses to their discretionary, they're cool.

 What i find wrong is waiting till one has nore income because the person feel that Bitcoin investment is the rich cause of the price, some people don't really understand that they can start accumulating gradually till they're able to generate more income and allocate more to their discretionary. Patience, consistency, and determination are more important asides basic knowledge and being able to generate income.

[Nheer]

Snip

When all three are in place, it becomes much easier to invest regularly and stay consistent but to start investing you don't necessarily have to put all in place. Discretionary income is the most important that's required before you start investing, all others can be arranged with your investment on the way.
Source of income helps to maintain a consistent accumulation while emergency funds protect your investment and keep them running for a long period of time but they don't stop you from getting started, with discretionary income available you should invest right away and worry about the others later build up the others as you go without letting them hamper you from getting started investing in bitcoin.

Fixed that for you.
For example if a person comes to bitcoin  and they have absolutely no source income.. but they have some money that they consider to be sufficiently enough to get started investing in bitcoin, and so yeah they can get started, and hopefully they are not using all of their money, since they likely have to consider their expenses and how long they are able to continue to pay for their expenses without having any source income.. so they have to make sure that they have funds to ongoingly pay their expenses, at least until the next point that they are likely to receive some additional income.

Circumstances are going to vary, and surely a persons age, living situation, life experiences, skills are all going to affect their expectations regarding future income and/or their abilities to increase income and/or cut expenses... so that they might either be able to continue to buy bitcoin or at least not have to sell any of the bitcoin that they had already bought at a time that is not completely at their own choosing.  So then each week, or whatever time interval they are considering to buy bitcoin, they have to figure out the extent to which they continue to have discretionary funds and/or if their future income/expenses situation had changed from the previous week that might change the extent of their confidence of their having sufficient discretionary funds.

I really appreciate you taking time to correct and refine that part. Your addition make my post more clearer and practical. it makes the advice more complete.

You're absolutely right, this is a more realistic approach to invest. The main idea is sustainability, where you need to consider how long the money will sustain you to invest and settle your needs when you don't have any source of income. So it means any money you have shouldn't only serve your investment purpose but also serve as your expenses for as long as you get to receive another income. Investing too aggressively without a source of income will be too careless and will affect your investment along the line. Without any source we have to keep evaluating how much we put into Bitcoin based on available discretionary funds.

Yep.. I was worried that the way you had originally phrased the matter may well cause some guys to NOT give any attention to their simultaneous building of the bitcoin investment and the back up funds, and to at least take into account where there other funds are at and to act accordingly.

So, for example, it may be different for a guy who had been using his discretionary income for several two week periods of $50 into each of the areas of 1) investment 2) back up funds and 3) discretionary consumption, as compared with a guy who might have had come to bitcoin and he already had $400 in his back up funds.. so maybe the guy who has $400 in his back up funds, he might want to put greater emphasis on building his bitcoin and to add to his back up funds at a lower rate, yet at the same time, the ultimate decision remains for the guy to figure out, and he might purposefully choose to vary his amounts based on his calculations and reassessment every two weeks to figure out how much he wants to put into each.. and even if he delays with building his back up funds until his bitcoin has the same amount $400, he is not completely ignoring the three categories.  He is attempting to pay attention and to be proactive about the matter.

There may be some other guys who don't really want to think about it.. so they might come up with some formula and invest the same percentages into each, every two weeks... so that way they don't have to think about it (even though they thought about it when they created the formula), and then maybe to reassess how their formula is working for them after 4-ish months of employing their formula.

My bad. I actually didn't read through again until is saw the correction before I get to know what I had wrote was misleading. Investors need to act accordingly and put everything in place for a sustainable investment and not totally ignoring a certain area. Paying attention to the situation around you helps you understand how to make intentional decisions about how much you allocate to various areas in order balance things up. And as you mentioned it can play out differently for everyone and everyone can approach it differently but what matters is that they are still aware of all three areas and are making a conscious decision and not just neglecting one entirely.

From the example mentioned, the difference between both people is the flexibility one has more based on how he starts. The guy who already has $400 back up funds is not being unreasonable for leaning more  into Bitcoin and slowing down on building back up funds temporarily, he's only blessed to have an advantage than the other guy who splits $50 across all areas, as long as he's able to figure out how much he should allocate to each area at certain points. So the idea isn’t to keep everything perfectly balanced at all times, but to stay aware and make adjustments when needed. As long as someone is not neglecting their safety net and check their approach regularly they should be on the right path.

[Bright0515]

In fact knowledge is the best protection in this world of cryptocurrency when panic spreads in the market ordinary investors get scared and sell their assets at low prices.

No doubt that knowledge is good in an investment (mostly Bitcoin investment) but trust me, you don't need too much of the knowledge you seek before you can start investing into Bitcoin, you only need to know the basic things about it, which are how to buy Bitcoin, and how to store Bitcoin for long term, every other things can be added in the future as long as you keep on accumulating more Bitcoin through DCA strategy.
As a matter of fact, your comment sounds more like you are trying to tell us that knowledge can stop Bitcoin from going dip (which is not true ). However, even those set of investors that have solid knowledge about Bitcoin investment often sell sometimes if the market is crashing, one thing you need to know is that your knowledge can not stop you from making some certain choices, mostly if you are so emotional or you toke a very big risk by using the lump sum strategy (buying Bitcoin with a huge amount of money).

But anyone who has an idea about the technical basis of bitcoin knows that temporary negative news or a person's personal opinion cannot change the long term future of bitcoin.

I believe Bitcoin tech has nothing to do with Bitcoin investment (correct me if I'm wrong). My honest reason for saying this is that I believe those techs can not say the actual amount it will be in the future that's why we can only predict because we are not sure about it, likewise those Bitcoin techs.

[feverishcoins]

Read a couple messages here that is very interesting and also some of them are very puzzling too.

Like how do you expect something that's not having a good source of income to start investments, I mean the person might not see or live through to see the exact goals or purpose of his investment come through. Humans are easily moves with big aims to acquire more and not everyone is having the patience of buying little by little till 7 years period and also some persons can decide to gather money and wait for probably a big dip or the bear market and then boom 💥 they buy with huge amount and then hold till the next bull market and even that sounds like a plan.

[MorganaX]

Read a couple messages here that is very interesting and also some of them are very puzzling too.

Like how do you expect something that's not having a good source of income to start investments, I mean the person might not see or live through to see the exact goals or purpose of his investment come through. Humans are easily moves with big aims to acquire more and not everyone is having the patience of buying little by little till 7 years period and also some persons can decide to gather money and wait for probably a big dip or the bear market and then boom 💥 they buy with huge amount and then hold till the next bull market and even that sounds like a plan.

The message is that you don't necessarily need a good source of income because that's a major to procrastinate and pend you from actually buying Bitcoin, what you need is just your discretionary income, no matter how small it is you can start off buying through DCA strategy little by little and steadily building your portfolio then as we all know growth is something that is constant so along the road there is always room for improvement in terms of your source of income so as you grow, you can gradually improve your buying amount and then also set up major barriers like your emergency funds to help you guide your investment.

[Tungbulu]

Read a couple messages here that is very interesting and also some of them are very puzzling too.

Like how do you expect something that's not having a good source of income to start investments, I mean the person might not see or live through to see the exact goals or purpose of his investment come through. Humans are easily moves with big aims to acquire more and not everyone is having the patience of buying little by little till 7 years period and also some persons can decide to gather money and wait for probably a big dip or the bear market and then boom 💥 they buy with huge amount and then hold till the next bull market and even that sounds like a plan.

The message is that you don't necessarily need a good source of income because that's a major to procrastinate and pend you from actually buying Bitcoin, what you need is just your discretionary income, no matter how small it is you can start off buying through DCA strategy little by little and steadily building your portfolio then as we all know growth is something that is constant so allow the road there is always room for improvement in terms of your source of income so as you grow, you can gradually improve your buying amount and then also set up major barriers like your emergency funds to help you guide your investment.

It depends on what you mean by “good income” as people may have conflicting ideas of this, and to some, your statement might be coming off as misleading. Discretionary income comes from your income, and it’s the leftover money from your income after you’re done sorting out all your essential expenses, so how exactly can you have a disposable/discretionary income when your income source isn’t good enough to sort out your essential expenses?

Just because you have an income doesn’t mean you automatically have or will have discretionary income, because sometimes, your income might not even be enough to sort out all your needs, especially those who are living paychecks to paycheck, and then at the end of the month, you’re left with completely zero discretionary income and a few debts to carry over to the next paycheck… you need to understand how this things work, because you actually do need a good source of income, if possible several streams in other to be enough to sort your expenses for the month and have some leftovers, especially when you’ve got a large family to take care of.

[Joeboy]

Read a couple messages here that is very interesting and also some of them are very puzzling too.

Like how do you expect something that's not having a good source of income to start investments, I mean the person might not see or live through to see the exact goals or purpose of his investment come through.

Investment are done with Discretionary income and not your main income, and you have to also correct the impression of thinking that investment is only for the rich folks... And so folks could still start with the.little amount of Discretionary income they have, as long as they are able to set aside some amount after settling their basic needs and responsibilities... Waiting for a perfect income before kickstarting your investment is only but time waster which could keep you from even starting at all, and so make use of the Discretionary income you have available to start...

Humans are easily moves with big aims to acquire more and not everyone is having the patience of buying little by little till 7 years period and also some persons can decide to gather money and wait for probably a big dip or the bear market and then boom 💥 they buy with huge amount and then hold till the next bull market and even that sounds like a plan.

feverishcoins patience can be built through involvement... At the start, low conviction could be part of the reason why folks may be unable to maintain patience for their long-term holdings, but that why their involvement is important as that is what makes it possible for them to build their experience, and when their experience grow they as well build up their patience to hold for long term durations...

Thee is nothing smart/or wise about waiting/delaying your investment all because you want to time the market..Timing the exact price bottom is unrealistic and very much impossible and doing so could just delay folks from kickstarting their investments...Just employ the DCA approach and keep buying irrespective of the what the market price is...