JJG’s Outline of Bitcoin Investment Ideas

[Grace333]

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).

Provided any folk have discovered that they have discretionary income they can start investing in bitcoin right away. The basic knowledge that's needed is just how to buy and secure their bitcoin in a self custody wallet which can be learned within few hours. There is no complexity in investing in bitcoin as most people think, when you start investing along the journey you can learn other things of your interest about bitcoin even if you find it interesting to learn about the technical aspects but one should know that it isn't necessary for a long term investment except you just feel like having additional knowledge.

[Gost ms]

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.

You are mistaken, we do not need a lot of income to invest, we need discretionary income. None of us can say when we will die, so if we do not buy now because our income is small, then it will be the stupidest decision for us. Whatever our source of income is, if we can find our source of discretionary income, then we can start investing.

If someone's source of income is 1 thousand dollars per month, then his monthly expenses are very high, and his needs are the same. But if we talk about a person with a low income, for example, 400 dollars per month, his monthly expenses are very low and his needs are much less than a person with 1 thousand dollars. So, to increase the source of income or because the source of income is low, do not invest, this is a wrong decision or it is an excuse.

If we look at big companies, most of them started from small and have now become larger companies. If they had thought the way you did at that time, they might not have been able to build the company they are today. Growing up starts small.

[Emjay24]

...

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.

Before you've to put the total discretionary income into Bitcoin, you should've built out your backup funds of which your emergency fund should've been at least 3 months worth of your expenses budget and you've some funds stashed for discretionary consumption, then you can put all discretionary income into Bitcoin pending when either you need to rebuild backup funds or put some more money into discretionary consumption

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.

You can still increase the amount even if your income doesn't increase, for example of you've built out your backup funds properly, you can still channel the funds associated to it into increasing your aggressiveness in buying Bitcoin. If you are able to cut down expenses and have more discretionary income available, you can still increase your buying amount from the availability of a bigger discretionary income.

[Bright0515]

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.

What you don't understand about Bitcoin investment is that you don't have to buy a whole Bitcoin before you can start investing. Bitcoin investment offers flexibility which means you can start buying little by little. As a matter of fact, you are still a newbie in the Bitcoin world, so you might not understand this. Did you know that most times investment is not just about how much you start with but how consistent you are or how serious you are. If you don't know, there are so many investors that have started investing into Bitcoin with a very large amount of money but at the end they sold off their assets immediately Bitcoin starts to dip. That's because they don't understand the market just like you don't, but if they/you start investing into Bitcoin with a very small amount of money from your discretionary income, you will understand how Bitcoin moves and you won't have to sell your Bitcoin out of fear if by any chance you witness the price dip.

Should I explain to you the reason why you need to invest into Bitcoin with your discretionary income?

Well, one reason why you need to invest into Bitcoin with your discretionary income is that you need to secure your survival first before you start doing any investment (Bitcoin investment) because if you don't you will be forced to sell whenever you have an emergency. Another reason why you need to invest invest into Bitcoin because it will safe you from going through an unnecessary pressures if you witness any dip in the future. If you also want to profits from Bitcoin investment you need to have a long term mindset, so investing from their discretionary income gives you the opportunity to invest into Bitcoin for long term. Investing into Bitcoin with your discretionary income doesn't even get you into any financial challenges because you have settled all your bills and house rent and other expenses before investing, lastly it offers flexibility (which I have said earlier on), by investing into Bitcoin with your discretionary income, it allows you to use the DCA strategy so that you can invest whenever you have some leftover money which is your discretionary income, but if by any circumstance you couldn't buy Bitcoin this week, then you have to wait until next week if you have them you buy again. But if by any chance you receive an unexpected money, you can also buy aggressively.

[Silikiem]

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 [/b
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.

We need to be careful not to refer to bitcoin as cryptocurrency so that we don’t mislead newbies into investing in shitcoins because there are lots of these cryptocurrencies that are shitcoins with no real value. I largely agree with you that knowledge is good when investing so that we can be able to make important investments decisions that will help us to further improve our investment. But that doesn’t mean we should wait until we have all the knowledge before we can start investing in bitcoin as what is only needed to start buying bitcoin is a discretionary income. It is very much advisable to get started immediately In buying bitcoin once we are able to figure out a discretionary income and along the line we can be learning from our experiences as we are ongoingly buying bitcoin and hold and from there we can also make important investment decision for the success of our bitcoin investment. Bitcoin knowledge is not what you can learn in a day, it can take you  years trying to learn and gain more knowledge about bitcoin investment and those years would have been used to be accumulating some reasonable amount of bitcoin stash and gradually increase our portfolio for long term goals.

[Tmoonz]

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.

No one is wishing not to live through to see the goals or purpose of his investment come through but one thing I will also remind to know is that Bitcoin can serve as an inheritance or a generational wealth and that is why it is a store of value that is when considering the situation of not not living to see your goals and purpose, it is best to be buying little by little than saving up and waiting for a big dip or bear market, the market is unpredictable and you can miss opportunities while waiting for a big dip which may never happen, you must have a huge amount before investing but with DCA strategy you can be buying gradually on different intervals with as little as you have because when put together over time it is going to be make sense which is better than waiting to save up huge money.

[Hardyrobust]

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.

No one is wishing not to live through to see the goals or purpose of his investment come through but one thing I will also remind to know is that Bitcoin can serve as an inheritance or a generational wealth and that is why it is a store of value that is when considering the situation of not not living to see your goals and purpose, it is best to be buying little by little than saving up and waiting for a big dip or bear market, the market is unpredictable and you can miss opportunities while waiting for a big dip which may never happen, you must have a huge amount before investing but with DCA strategy you can be buying gradually on different intervals with as little as you have because when put together over time it is going to be make sense which is better than waiting to save up huge money.

it is a fact that not everyone that is investing in bitcoin is doing so because of profits. There are those that are investing in bitcoin because they wanted to preserve there wealth and to hand it over to the next generation which they can't do this with local fiat because of inflation.
The mindset of waiting to save or have a huge amount before starting isn't a good one because it will only lead to missing out in market opportunities. There are better alternatives as you have pointed accumulating on different intervals using the DCA strategy is more better than the idea of wanting to save a huge amount.

[Odohu]

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.

Please don't twist what I said before and I will advice that you read my submission again, especially the part I made bold which summarizes what you are saying. For clarity, a beginner does not need to know too much about Bitcoin to get started with investing; basic knowledge is enough to start accumulating Bitcoin. Subsequent knowledge can be gotten when the person is already invested in Bitcoin just like we have people who learn on the job.

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.

Knowing how to invest in Bitcoin is simply basic knowledge which is needed to get started. What qualify as deep knowledge is much more than that. As a Bitcoin investor that have accumulated a large quantity of Bitcoin, you will see the need to have hardware wallet and even device means of setting up other security measures in other to protect your Bitcoin. Furthermore, it will not be bad for a Bitcoin investor to follow developments in Bitcoin to remain informed of the best practices in Bitcoin holding, things that may improve the security of the method of storage and other things. These knowledge are important for a Bitcoiner but not mandatory to get started.

[Baki202]

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.

No one is wishing not to live through to see the goals or purpose of his investment come through but one thing I will also remind to know is that Bitcoin can serve as an inheritance or a generational wealth and that is why it is a store of value that is when considering the situation of not not living to see your goals and purpose, it is best to be buying little by little than saving up and waiting for a big dip or bear market, the market is unpredictable and you can miss opportunities while waiting for a big dip which may never happen, you must have a huge amount before investing but with DCA strategy you can be buying gradually on different intervals with as little as you have because when put together over time it is going to be make sense which is better than waiting to save up huge money.

it is a fact that not everyone that is investing in bitcoin is doing so because of profits. There are those that are investing in bitcoin because they wanted to preserve there wealth and to hand it over to the next generation which they can't do this with local fiat because of inflation.
The mindset of waiting to save or have a huge amount before starting isn't a good one because it will only lead to missing out in market opportunities. There are better alternatives as you have pointed accumulating on different intervals using the DCA strategy is more better than the idea of wanting to save a huge amount.

And the issue is that it is looking like most people have not really understand how bitcoin works because it is meant for us to make profit from when it is done currently because what reasons do you think people will want to invest in bitcoin if not for the money because that is just the picture  and a lot of people are doing that because they already hear a lot of things about bitcoin which have made them interested and another good reasons instead of saving money in banks without making anything from saving money and investing in bitcoin comes with something in return.

And since some point is already cleared the accumulation should be the next raeget because that is the only way you make profit is to accumulate and that is for you to use the DCA method, because that is just another way that you can accumulate gradually without stressing your self to much because you know what to so already when it comes to DCA the only thing is just for you to be committed and consistent.

[Itz-prisigold]

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.

You make some interesting statements,  but there are some things that need further clarification.

It's not so much about a "good source of income" before one should start Bitcoin investment,  but about whether a person can be able to create discretionary income from whatever income available for them. Someone may make a lot of money,  but if they can’t manage their spending they won't be able to invest, on the other hand,  someone with a more modest income can still accumulate gradually if they have good money management skills.

I mean the person might not see or live through to see the exact goals or purpose of his investment come through.

And this your viewpoint that someone may not “live to see”  their investment is a bit extreme. Bitcoin investment has always been about long term mindset and discipline, and not about quick outcomes. The problem with some people is that, they come into Bitcoin with unrealistic expectations, and the moment things don't match those expectations they start to lose interest,  and then walk away. This is not a Bitcoin problem, the problem is their mindset.

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 idea that you are going to wait to buy a dip might sound good,  but in reality that is not the case at all.  Most people that have that philosophy end up waiting so long that they lose the chance to buy. Market timing is much more difficult than most people think. This is why most people use DCA strategy,  it takes the pressure off trying to be perfect and allows them to slowly build their position with the amounts they can  actually afford.

Investors should know that it is not about going after big entries or having a prefect plan,  it's just about having a sustainable approach. When an investor is only working with their discretionary income and is accumulating gradually, they aren't relying on chance or the best timing. What they are doing is creating a consistent system,  and that's the thing that pays off in the end.

[BluebloodCXVI]

The idea that you are going to wait to buy a dip might sound good,  but in reality that is not the case at all.  Most people that have that philosophy end up waiting so long that they lose the chance to buy. Market timing is much more difficult than most people think. This is why most people use DCA strategy,  it takes the pressure off trying to be perfect and allows them to slowly build their position with the amounts they can  actually afford.

Investors should know that it is not about going after big entries or having a prefect plan,  it's just about having a sustainable approach. When an investor is only working with their discretionary income and is accumulating gradually, they aren't relying on chance or the best timing. What they are doing is creating a consistent system,  and that's the thing that pays off in the end.

I think buying the dip should be seen as an opportunity rather than something to be waited upon, and unfortunately, most newbies like me fall into that trap of thinking that they have to wait for a perfect entry before they can start investing, I was almost a victim of this circumstance but over time and after some enlightenment,I got to accept the fact that the market doesn’t move according to my schedule and Waiting would only encourage procrastination so I didn’t waste any more time to begin my journey because at the end of the day, I believe it is better to be a low-coiner than a no-coiner .

[whiteblue]

If we regularly buy Bitcoin, we'll be at the forefront of owning the most valuable asset in decades to come. Bitcoin non Inflationary nature is certainly an advantage, making it one of the assets with a high price compared to other assets. Many influences can disrupt our consistent investment, So we must be prepared for negative influences, such as anxiety.

We can learn about Bitcoin frequently while investing. There are many interesting articles to read to broaden our knowledge of proper Investment practices and Bitcoin.
360 days is a short time, if we neglect investing in Bitcoin, we'll waste time building future success. Bitcoin doesn't guarantee wealth, but unlike fiat, it's non inflationary.

[Sticky Bomb]

And since some point is already cleared the accumulation should be the next raeget because that is the only way you make profit is to accumulate and that is for you to use the DCA method, because that is just another way that you can accumulate gradually without stressing your self to much because you know what to so already when it comes to DCA the only thing is just for you to be committed and consistent.

To have a real chance at profitability in Bitcoin, you need to have a long-term holding plan besides your consistency in accumulating it. This is because even if you used DCA for a while being consistent and along the line you start taking profits when the value of your stash increases within a short while, then you are trading and selling much BTC to soon and may miss out on more profits on the long-term, the correct duration for long-term is 4-10 years or longer depending on the age you got into it and some other underlying factors like health issues e.t.c which may warrant you cash in your stash before a 10 years margin. Bitcoin is best approached with a long-term mindset, already from it's history of price movement, you could see that those who bought around 2016 when it's price was less than $500 are in large profits today, and would possibly be in more in the future if they decide to keep holding and not sell.

[Homemade-IQ]

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.

No one is wishing not to live through to see the goals or purpose of his investment come through but one thing I will also remind to know is that Bitcoin can serve as an inheritance or a generational wealth and that is why it is a store of value that is when considering the situation of not not living to see your goals and purpose, it is best to be buying little by little than saving up and waiting for a big dip or bear market, the market is unpredictable and you can miss opportunities while waiting for a big dip which may never happen, you must have a huge amount before investing but with DCA strategy you can be buying gradually on different intervals with as little as you have because when put together over time it is going to be make sense which is better than waiting to save up huge money.

it is a fact that not everyone that is investing in bitcoin is doing so because of profits. There are those that are investing in bitcoin because they wanted to preserve there wealth and to hand it over to the next generation which they can't do this with local fiat because of inflation.
The mindset of waiting to save or have a huge amount before starting isn't a good one because it will only lead to missing out in market opportunities. There are better alternatives as you have pointed accumulating on different intervals using the DCA strategy is more better than the idea of wanting to save a huge amount.

And the issue is that it is looking like most people have not really understand how bitcoin works because it is meant for us to make profit from when it is done currently because what reasons do you think people will want to invest in bitcoin if not for the money because that is just the picture  and a lot of people are doing that because they already hear a lot of things about bitcoin which have made them interested and another good reasons instead of saving money in banks without making anything from saving money and investing in bitcoin comes with something in return.

If making profit is the only thing that brought you here, then you shouldn't have be disguising as a Bitcoin investors, instead you should focus on trading, so that when you lose your hard earned money, and experience some series of losses, you will rethink your profit oriented mentality, because it's myopic reasoning like that.
I see Bitcoin as a store of value, and since it's an asset that appreciates in value overtime, it's the perfect asset to use in beating inflation, not profit this, profit that, that is be clouds your mentality.

[Ashawowo(OS)]

If we regularly buy Bitcoin, we'll be at the forefront of owning the most valuable asset in decades to come. Bitcoin non Inflationary nature is certainly an advantage, making it one of the assets with a high price compared to other assets. Many influences can disrupt our consistent investment, So we must be prepared for negative influences, such as anxiety.

Bitcoin isn't non-inflationary, it has inflation since new coins are minted after every block is mined, however Bitcoin inflation is low and predictable unlike Fiat which the government manipulates at will, therefore it has unlimited inflation from unlimited printing of money and is always subject to depreciation and this is another obvious advantage Bitcoin has over Fiat besides being decentralized and censorship resistance and which makes it a very good investment option and a place to put your spare funds instead of stacking it in the bank to depreciate on the long-run

[Nheer]

And the issue is that it is looking like most people have not really understand how bitcoin works because it is meant for us to make profit from when it is done currently because what reasons do you think people will want to invest in bitcoin if not for the money because that is just the picture  and a lot of people are doing that because they already hear a lot of things about bitcoin which have made them interested and another good reasons instead of saving money in banks without making anything from saving money and investing in bitcoin comes with something in return.

And since some point is already cleared the accumulation should be the next raeget because that is the only way you make profit is to accumulate and that is for you to use the DCA method, because that is just another way that you can accumulate gradually without stressing your self to much because you know what to so already when it comes to DCA the only thing is just for you to be committed and consistent.

I can’t help but respond when I see people misunderstanding Bitcoin investing. It’s surprising that after all the discussions around here some people still think it’s only about profit. That idea is wrong. Saying Bitcoin exists just for profit or that people invest in it only for profit is wrong, it misses the bigger picture. If profit is your only reason then you may not fully understand what Bitcoin and it's investment is all about. Bitcoin was not just designed for profit, true, profit can happen if its value increases over time but it’s never guaranteed. It’s just  a possibility that requires patience, understanding, and time that's why long term investment is most ideal.

When you treat Bitcoin purely as a way to make quick money you’re more likely to panic when prices drop or you will start chasing short term gains. That approach is a traders approach not and not investing.

[JayJuanGee]

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.

There is no requirement for "deep knowledge" to either get started with bitcoin or to sustain a bitcoin investment,

Individuals can choose how much knowledge the believe they need, whether the knowledge is about their cashflow management practices or about bitcoin.

In fact knowledge is the best protection in this world of cryptocurrency

We are not talking about shitcoins here in this thread.  We are taking about bitcoin.  Do you know what bitcoin is?  If you do, then why are you using the term "cryptocurrency?"  You trying to sound smart - likely you know about more than just bitcoin and that you believe bitcoin is just part of a package of related coins?  You likely don't know what bitcoin is  if you don't even know how to use the word.

when panic spreads in the market ordinary investors get scared and sell their assets at low prices.

Which assets are they selling?  Bitcoin?  something else?  Maybe you need to give some example?

I understand that whether a person is buying bitcoin or not may well depend on where he is at in his bitcoin investment, and part of the reason that I suggest to ongoingly buy bitcoin for at least 4 years is because there is a need to accumulate some bitcoin and spend some time accumulating bitcoin.. which may well also accompany strengthening cashflow management practices, too.

Maybe your situation is different @Negotiation since you have  been in registered on this forum since mid-2019, so maybe you were able to accumulate bitcoin during that time, which would have had been nearly 7 years..

Just imagine if you had been buying bitcoin the whole time at about $100 per week. You would have had invested about $36k, and you would have right around 1.54 BTC.. which surely would not be a bad place to be...

But instead ?  where are you?  Distracted?  You are thinking about selling rather than buying?  Or you are worried about others selling or buying?  Or you are worried about other assets and shitcoins?

Historically, there has been value in bitcoin to stay focused on bitcoin and to focus building the bitcoin holdings, so hopefully you had been using your last nearly 7-ish years effectively, even though I have my doubts based on how you write and how you seem to be thinking about bitcoin.

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.

Why are you talking about the failures then?  What have you been doing?  Are you still accumulating bitcoin or have you gotten to a stage that you have enough bitcoin?

...

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.

Before you've to put the total discretionary income into Bitcoin, you should've built out your backup funds of which your emergency fund should've been at least 3 months worth of your expenses budget and you've some funds stashed for discretionary consumption, then you can put all discretionary income into Bitcoin pending when either you need to rebuild backup funds or put some more money into discretionary consumption

You are misleading folks if you are proclaiming that newbies need to have 3 months of their expenses saved up before starting to invest in bitcoin.

Have you even read any aspects of this thread?  All you need to get started investing in bitcoin is discretionary funds, and if you have no emergency funds when you first start to invest in bitcoin, you can build up your emergency funds at the same time that you are building up your bitcoin.. and so it is important to get started investing into bitcoin as soon as possible, and if someone comes to bitcoin and they don't have any back up funds, it could take them a year or longer just to build up back up funds, which both delays their bitcoin investment and cause them to hold a lot of value in assets (currencies) that are ongoingly losing value (perhaps losing value faster than they can be built up).

[B-BossMan]

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.

 


Dude, I may not understand the message you are trying to pass, but it would actually be better if really you are specific to this thread. Our discussions here are based on Bitcoin, not cryptocurrency space entirely, if you generalize your statements on cryptocurrencies it can actually mislead some newbies here who are trying to learn about the Bitcoin specifically. So it very important to follow the direction of our discussions and contribute accordingly, to make it clearer, keep your points focused on Bitcoin to be more helpful to others that are reading/learning.

[alankasman]

To have a real chance at profitability in Bitcoin, you need to have a long-term holding plan besides your consistency in accumulating it. This is because even if you used DCA for a while being consistent and along the line you start taking profits when the value of your stash increases within a short while, then you are trading and selling much BTC to soon and may miss out on more profits on the long-term, the correct duration for long-term is 4-10 years or longer depending on the age you got into it and some other underlying factors like health issues e.t.c which may warrant you cash in your stash before a 10 years margin. Bitcoin is best approached with a long-term mindset, already from it's history of price movement, you could see that those who bought around 2016 when it's price was less than $500 are in large profits today, and would possibly be in more in the future if they decide to keep holding and not sell.

One way seems to be to do this because otherwise it's difficult to achieve profits. Most people who achieve profits still use long-term methods and the ownership we have in accumulating Bitcoin will be beneficial for someone who consistently accumulates Bitcoin.

Behind the long-term approach it's certainly true, as you mentioned that someone shouldn't just use 5-10 years. Health should also be considered. Sometimes when someone's health starts to weaken, that timeframe isn't necessary for someone to wait for a predetermined time to invest. Age also affects performance especially as long-term performance can lead to depletion of health.
It's true that Bitcoin is best approached with a long-term mindset. However the health issues I mentioned earlier are also logical. This isn't to justify my own statement but age significantly influences our performance in Bitcoin investing. Long-term results will certainly be better which will benefit those who use this approach.

[Floczy]

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.

You know Bitcoin investment does not really take much of a persons time, you have to hustle.
You can kick start the investment even if you don't have a good source of income at the moment, but your not just gonna sit at a place and settle for that source of income,
When they say Bitcoin investment is also for the average or less average financialy,  they mean the one's with goals to get better income so they will be able to increase their investment, it's not for those that choose to settle for a bad income. Because you invest in Bitcoin doesn't mean you can not go out on your daily hustle for a better life, you still have your time and opportunities out there that you can use to get a better life and a better investment as well.
Don't ever be relaxed because you have an investment going on, this is a long term investment that will take years to mature.

If you don't have a good source of income just yet, as long as you can squeeze out some discretionary income then you can start investing with DCA, but as time goes on you must have to grow financially, hustle more.

Where you can not invest is a situation where you have no way of getting any discretionary income at all, in that case you will have to wait and hustle more to get a good Job, and then you can start investing.