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.
Huh? How much time bitcoin investing and/or cashflow management takes depends on circumstances.. and hustling is an idea that relates to earning more income.. .you seem to be mixing up ideas.
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.
Of course anyone who is able to increase their discretionary income, then they have more money to work with in terms of investing. Not all people are in a position to increase their discretionary income by increasing their income, so they have to try to work with what they have coming in, and sometimes organizing can be helpful to cut some expenses. At the same time, many of us recognize that one of the advantages of bitcoin investing remains our abilities to invest small amounts at a time, which might not always be possible (or practical) with other kinds of investments
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.
You are a bit annoying if you are proclaiming that individuals have to hustle more. The amount of hustle that any person chooses to do is individualistic, and sure there can be people who are in positions in which they would end up doing better if they put more efforts into it or to organize themselves better, yet we still cannot presume everyone to be in the same place.
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.
You are correct that some discretionary funds has to be available to be able to invest, and if there are questions/concerns about future income, there sometimes can be assessments that the quantity of discretionary funds are not sufficient enough in order to justify investing into bitcoin, since we likely recognize that investing into bitcoin ends up locking up funds for 4-10 years or longer, and so the immediate future income concerns can take away confidence from assessments of whether the amount of available discretionary funds are sufficient in order to invest into bitcoin.
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.
We are likely getting off topic if we are talking about profits or worrying about profits, since it seems to me that these days an overwhelming majority of bitcoin investors who are either in their first bitcoin investment cycle or even getting to be in their second bitcoin cycle, if they are really investors, they are going to end up are going to end up taking time to build up their bitcoin holdings, so then the main questions would end up revolving around how many bitcoin they had accumulated and potentially how much bitcoin had gone up in value in order to give them an overall bitcoin valuation that might be sufficient to start to withdraw from it.
Sure, there might be a difference between how much they invested into the bitcoin and how much the bitcoin is worth, which also would be a way of considering profits, yet for an investor, that profit calculation seems less likely to be important as compared to how much is the whole bitcoin holdings worth and can they start to withdraw from it.. whether sustainably or if they might be close to end of life where they might be inclined to deplete the principle.
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.
Ongoingly, you seem to be just throwing out random ideas and not really connecting them very well. One aspect of age and health would be how long a person would feel that they are able to establish their investment timeline, and surely someone who has age/health considerations, then they may well not be able to establish an investment timeline that is longer than 10 years because they are anticipating likely needs to access their bitcoin earlier than 10 years based on age/health considerations that would end up affecting their income.. and a lot of things that happen with older folks is that once they stop working then whatever their income sources might not keep up with increases in the standard of living, so more elderly folks tend to have higher chances to be dependent on fixed income sources that do not sufficiently adjust upwards to account for increases in the cost of living.. so surely one of the advantages of having investments (whether bitcoin or otherwise) is that some investments might allow for abilities to account for increases in the cost of living.. especially if the investments are growing faster than the withdrawal rate.
It's true that Bitcoin is best approached with a long-term mindset. However the health issues I mentioned earlier are also logical.
Age/health issues might be recognized at the start of the investment and/or health/age changes can also develop while the investment is ongoing and potentially change plans.. and surely guys can have health issues or even loss of employment due to health and/or age issues... yet I would imagine that any point in time that we are making decisions about how to approach our bitcoin investment and other aspects of our cashflow management we are accounting for things as they are and how we anticipate them to be in the relevant future timeline, yet at various points along the way, both the present circumstances and the anticipated future expectations can change base on sudden or gradual changes that may well contribute towards needs to reconsider whatever approach to our bitcoin investment and aspects of our cashflow management that we might be taking.
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.
Ongoingly, you are speaking vague gobble-dee-gook.
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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 .
Waiting for a price drop is almost as good as waiting for a price increase, as both are uncertain, although not impossible, at any given time in the market. Therefore, taking advantage of the time with minimal capital is a much better option than being a spectator in the market, afraid to buy Bitcoin at the current price. And right now, I'm starting to think that Bitcoin could reach $80,000 again, as yesterday it briefly reached over $78,000. Regardless, taking advantage of opportunities with minimal capital is always the right move rather than doing nothing for some illogical reason.
Are you talking about trading or investing? Why does it matter if the BTC price is $74k, $78k, $80k or some other amount? If a person is in their bitcoin accumulation phase, then maybe he is ongoingly buying bitcoin.
Sure you have been on the forum since late 2016, so it could be the case that you have accumulated enough or more than enough bitcoin, and maybe you are more picky about your bitcoin accumulation as compared with a person who is earlier in his bitcoin accumulation.
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.
First, before investing, we must have basic knowledge to avoid confusion when starting out. However, we shouldn't assume our knowledge is sufficient. We must always be hungry for knowledge. As the saying goes, "our cup must always be empty." This means we should never be satisfied with what we've learned and must always continue learning.
Get the fuck out of here with your attempted lecture about prerequisite knowledge. You have been registered here for 11 years (congratulations), yet there are a lot of folks who are way newer to bitcoin, and you want the newbies to fuck around getting knowledge? How about getting started investing in bitcoin?
Have you read any parts of this thread? Do you know the topic of this thread?
The only thing needed to get started investing in bitcoin are discretionary funds and common sense. The beginner can adjust their position size to their comfort level and learn as they go.. there is no need to be unnecessarily delaying in getting started based on some vague ideas to make sure that our knowledge is "sufficient" enough to get started..... especially if we are able to assess whether we have discretionary funds or not, and if we have discretionary funds, we can get started, whether that is starting out with $100, or $10 or some other amount, and whether there is a decision to buy every week or some other period of time that we might consider that we have discretionary funds available for investing... .. and yeah, there is no problem adjusting our investment size down until we become more comfortable, so perhaps a beginner assesses that he could easily invest $100 per week into bitcoin, yet since such person is a newbie, he might purposefully choose to start out with investin $30 per week into bitcoin until his comfort level increases.
In investing or trading, everything we do and experience is always a learning experience, and this is crucial in trading because we discover something new that can make us aware of our mistakes.
We are not talking about trading here.
However, as investors, we must continually update our experience and knowledge, because the market will always move based on it, especially information. It's undeniable that current situations and news reports also influence price movements.
I don't have any problems with the idea of ongoing learning, since a person's comfort level and chosen level of aggressiveness in investing into bitcoin can increase based on increased comfort and increased knowledge, yet each person has to decide those kinds of balances.
In the earliest stages of building an investment, there likely are not a lot of needs to get worried about BTC price and/or price movements, even though there are no problems in monitoring those kinds of matters, even though it seems that in the earliest stages, the more important matters revolve around cashflow management and figuring out how much a person might want to invest each week, alongside with building up sufficient back up funds so that he may well be able to continue to build his investment for 4-10 years or longer...and even figuring out the particulars of
his 9 individual financial/psychological factors may well take quite a bit of time, since they are likely not going to be static ideas as his discretionary funds might change with time as well as his bitcoin stack size may well continue to increase along side with the strengthening of his cashflow management systems/practices.
Having basic knowledge before investing should not be treated as a strict requirement because making it compulsory can lead to unnecessary delays or waste of time.
Every brand new investor who wants to start his bitcoin investment needs the basic knowledge of bitcoin if not how will he buy bitcoin. How will he know that bitcoin is a volatile asset. You can't start bitcoin without the basic knowledge of bitcoin because it wouldn't take up to two days to learn the basics and I don't see how that's a waste of time.
A brand new investor needs basic knowledge of bitcoin and his discretionary income while he learns the rest simultaneously as he builds his bitcoin investment.
There is nothing wrong with proclaiming that guys have to figure out how they are going to source their bitcoin and potentially compare their bitcoin sourcing options in order to make sure that they are comfortable prior to getting started investing in bitcoin, yet getting into those kinds of weeds seem to be a bit of distraction in our proclamation of requirements that we might believe that guys need to have prior to getting started investing into bitcoin, since surely part of what I am trying to advocate in this thread is getting started as soon as possible.. and presuming that guys have enough common sense that they are going to balance their sourcing considerations and/or comfort levels.. Surely there can be geographical differences, and maybe guys who are participating in a forum like this already are used to having internet availability that helps them to search out possible ways to source their bitcoin. Other guys might need to figure out some local options where they might be able to buy bitcoin..., and there surely might be some areas (small towns or rural areas) that it might be difficult to find local sources, so they end up being stuck with online sources, that likely vary from country to country... but yeah, logically, bitcoin cannot be bought if sources cannot be figured out, and the extent to which the first source that a newbie finds out about is sufficient might also not be comfortable enough for some guys to want to get started, even if the first buy might not be a large amount.
I hate to leave any implications in regards to what is basic knowledge that guys need to have before getting started, even though surely we can acknowledge that newbies need to figure out their sourcing and the extent to which their sourcing might contribute to any delays in buying bitcoin based on their sourcing concerns - yet at the same time, it seems to me that it becomes problematic to get caught up in the weeds about sourcing, instead of continuing to emphasize that guys should get started buying bitcoin as soon as practical (possible) once they figure out that they have discretionary funds, and also surely there is some value in presuming that an overwhelming majority of normies have common sense (perhaps even somewhere in the ballpark of 97%) - and getting started helps them to put their common sense into practice as soon as possible. which practice and application is also a vehicle that facilitate learning in which the guys with common sense can make adjustments while they are simultaneously figuring out ways to buy bitcoin every week and to put priorities to their ongoing and persistent stacking of sats, even if their starting amount might need to be small based on their sourcing issues and/or other particular issues that they might have in regards to their own calculations of the availability of discretionary funds on such regular basis.... and surely guys who have regular discretionary funds available will likely have easier times investing regularly (such as weekly) as compared with guys who might have fluctuations in their income and/or expenses that contribute towards more irregularities and perhaps even low levels of discretionary funds being available on a regular basis.
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Accumulating bitcoin aggressively isn’t even the problem, the main problem is when a person is going beyond what he can comfortably afford, that risk alone is similar to gambling already. If maybe you’re using money that is meant to handle your basic needs or emergency, it’s no longer investment anymore, it’s pressure. And once market dropped, fear may push you to sell at a loss. This is another emotional behavior that some gamblers have when they want to recover losses. Use only your discretionary income to invest and don’t let your emotions to control your decision. The best approach is to accumulate gradually like DCA, even if the price goes up or down, you won’t panic and your mind will be stable.
I frequently like to suggest that when we try our best to establish and maintain strong cashflow management practices, then our financial practices will end up bolstering our psychology, so it becomes less likely that we are going to become emotional about our bitcoin.
Of course, each individual is not the same, and some guys more easily get emotional than others, so each guy needs to figure out ways to tailor his own approach to how much he is investing in bitcoin (how aggressive he is) and how strong he needs to keep his back up funds (his cashflow management practices) in accordance with his own assessment of his emotions, and perhaps there are even a lot of guys who are not really in touch with their emotions or their assessments of when they become emotional and when they do not, which is another justification for ongoing practice and ongoing tweaking of our balances in order to account for our own comfort levels, which might be more greatly tested during periods that the BTC price is moving around a lot or even greatly tested during periods that our income might go down and/or our expenses go up...
For example, we might get stressed out during periods in which our cash is running out (for one reason or another) during periods that the BTC price is down and we should be buying more bitcoin, yet we don't have any extra money based on perhaps a variety of reasons of our managing our cashflows badly in previous months and/or perhaps lowering of our income and/or increases in our expenses.
with practice, we likely end up identifying situations in which we end up getting stressed out and even identifying things that we might have had been able to do in order to mitigate (lessen) the extent of our future stress based on how we might deal with future situations and/or even some preventative measures that we could put into practice.
