JJG’s Outline of Bitcoin Investment Ideas

[Umulala-alala]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

[cyberninja2]

There are situations where people are earning but are not able to invest in bitcoin even with the DCA because beyond being rich or poor what actually determines a person's capability to accumulate bitcoin is their discretionary income, without this it becomes impossible to invest in bitcoin, and yes people can be earning and not have any discretionary income from it, there are people who are working but are still living off on credits, some are basically feeding from hand to mouth, surviving on what the can hustle up at the end of the day, so while we might want to consider a person's financial state as a factor on whether or not they can accumulate bitcoin, what they actually need to be able to accumulate bitcoin is their discretionary income, if a person cannot generate discretionary income they cannot accumulate bitcoin even with the DCA.

That's true but what I need to explain is why they hesitate to accumulate Bitcoin as an investment. They have two versions of the wealthy. One is that their mentality of starting to accumulate through DCA is easier than that of those who sometimes struggle to even meet their daily needs. This is why it's quite strange for those with financial means to accumulate.

Sometimes the reasons they put forward make it difficult for us to accept because they only need to do it when they know how or understand what actually needs to be done in accumulating Bitcoin and also make sure if doing it in a long-term way how will or what must be prepared because with the abilities possessed by these rich people there is definitely no need for doubt in doing it because they only need to focus on concentration when they have started what they do to accumulate with the aim of investing in Bitcoin so that they will hold Bitcoin ownership in any amount in gaining profits regardless of what they have done to accumulate several years before and this achievement must also be done in a long period of time and they do not need to think about daily needs with the reason that they only need to be patient in reaching the point where they do to invest after doing to accumulate with the DCA method when buying Bitcoin.

[Olatundespo]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

I agree with some of your points but disagree with others. Accumulation Bitcoin through discretionary income is definitely a great strategy but buy Bitcoin through lump sum  from whatever extra funds you have. It would be even better to take risks while investing, if having a good risk tolerance. With the weak management of the global economy, most countries will be under inflation and the value of your cash funds will be devalued. Since Bitcoin is a decentralized asset it is more likely to be unaffected by inflation.
Accumulation Bitcoin regularly through discretionary income and this process in the long term can build a stack of Bitcoin, as well as buying a lump sum of Bitcoin.

[Crytohillss]

There are situations where people are earning but are not able to invest in bitcoin even with the DCA because beyond being rich or poor what actually determines a person's capability to accumulate bitcoin is their discretionary income, without this it becomes impossible to invest in bitcoin, and yes people can be earning and not have any discretionary income from it, there are people who are working but are still living off on credits, some are basically feeding from hand to mouth, surviving on what the can hustle up at the end of the day, so while we might want to consider a person's financial state as a factor on whether or not they can accumulate bitcoin, what they actually need to be able to accumulate bitcoin is their discretionary income, if a person cannot generate discretionary income they cannot accumulate bitcoin even with the DCA.

Some people assume earnings automatically means people can invest, but that's not how real life works if everything you make is already tied up in bills , debt  or daily survival there's nothing left to allocate no how good the investment is all about discretionary income is really main factors here without that breathing room even something like DCA becomes unrealistic I think the conversation should shift more towards how individuals can create that margin first because that's what truly makes consistent investment really good.

[SmartCharpa]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Don’t put all your money into bitcon only because you believe that it safe. Nothing is guaranteed in life, you don’t know what problems you might face, so in order to avoid wrong move, don’t even try to invest all your money thinking you can make huge returns if the market increases. To me, I see that as a greed, normal investor who understands how bitcon works will not consider what they will get in a short period of time.

In addition, you believe in Bitcon doesn’t stop the market from going up and down, it will still remain the same, and no one can predict what the market would do in the future. Real investors do not invest all at once, they set an amount to buy gradually and keep money aside to take care of other bills. Don’t invest all at once because you will put yourself under pressure when the price drops. Invest and don’t try to be wise than the market.

[Derekfunds]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

You are right mate but the volatility is not the major reason we are told to use discretionary income to invest but the reason is that no Investment is guarantee and Bitcoin is not exception so that is why we are advised to use only our discretionary income but since Bitcoin is not control by anyone we should not worry much but instead we should be consistent with our accumulation using the discretionary income because it's a money we can afford to lose or let go. Anyone who is using money outside discretionary income to invest is gambling and they should be ready to accept any outcome.

[Joeboy]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Everyone has a strategy for anything, especially when it comes to investing, such as buying Bitcoin for the long term. This means that anyone who dares to spend more money to buy Bitcoin for long-term investment is clearly doing so with careful consideration. Without preparation, perhaps no one would dare to buy Bitcoin, even if they strongly believe in it and only have a small amount of money. Therefore, such things must be truly based on a well-measured plan, preparation, and a specific strategy for implementing them.

DCA is the strategy that beginners should just focus on... And mehmetosman89 what kind of mental preparations and pre-planning are you even talking about... Honestly speaking, this are majorly time wasters, which could keep delaying guys from kickstarting their investments journey if they engage in such habits ..Basic knowledge and Discretionary income is enough for folks to kickstart their journey and then they could very well figure out out the rest as they go on. Involving yourself in Bitcoin is basically how folks can build their convictions..

[Proty]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Everyone has a strategy for anything, especially when it comes to investing, such as buying Bitcoin for the long term. This means that anyone who dares to spend more money to buy Bitcoin for long-term investment is clearly doing so with careful consideration. Without preparation, perhaps no one would dare to buy Bitcoin, even if they strongly believe in it and only have a small amount of money. Therefore, such things must be truly based on a well-measured plan, preparation, and a specific strategy for implementing them.

DCA is the strategy that beginners should just focus on... And mehmetosman89 what kind of mental preparations and pre-planning are you even talking about... Honestly speaking, this are majorly time wasters, which could keep delaying guys from kickstarting their investments journey if they engage in such habits ..Basic knowledge and Discretionary income is enough for folks to kickstart their journey and then they could very well figure out out the rest as they go on. Involving yourself in Bitcoin is basically how folks can build their convictions..

There is no need for a kind of preparation before anyone can start investing in bitcoin, therefore @mehmetosman89 is wrong. The most important thing is if there is discretionionary income available to invest with.
Yes it is definitely a waste of time if anyone should be considering preparing themselves mentally before getting started with bitcoin accumulation as long as they can be able to figure out there discretionionary income then they are good to start investing in bitcoin.

[Tmoonz]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

You are right mate but the volatility is not the major reason we are told to use discretionary income to invest but the reason is that no Investment is guarantee and Bitcoin is not exception so that is why we are advised to use only our discretionary income but since Bitcoin is not control by anyone we should not worry much but instead we should be consistent with our accumulation using the discretionary income because it's a money we can afford to lose or let go. Anyone who is using money outside discretionary income to invest is gambling and they should be ready to accept any outcome.

You guys are saying the same thing as per the reason for making use of discretionary income in Bitcoin investment let's take for instance anyone who uses the money meant for maybe school fees to buy Bitcoin and if there is a negative volatility that is a price drops it can get to a point where the person will sell even at lost in other not to lose everything, so there is nothing wrong saying that volatility is part of the reasons why using a discretionary income should be encouraged.

[Tongley]

Everyone has a strategy for anything, especially when it comes to investing, such as buying Bitcoin for the long term. This means that anyone who dares to spend more money to buy Bitcoin for long-term investment is clearly doing so with careful consideration. Without preparation, perhaps no one would dare to buy Bitcoin, even if they strongly believe in it and only have a small amount of money. Therefore, such things must be truly based on a well-measured plan, preparation, and a specific strategy for implementing them.

If you have basic knowledge about Bitcoin and a source of discretionary income, then waiting to start investing will never be the right decision. We need to start investing, because when you jump into a place, you will automatically start understanding what to do to sustain yourself in that place and what measures to take. If you spend a lot of time just planning, then you will see that you will keep facing one problem after another, so it is necessary to start investing. After starting investing, you can progress in gaining knowledge and investing in parallel.

But yes, if you mean planning and preparation to start investing, basic knowledge and a source of discretionary income, then it is definitely necessary. But if you have a source of discretionary income and basic knowledge, then waiting to invest and deceiving yourself will be the same thing.

[Umulala-alala]

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

I agree with some of your points but disagree with others. Accumulation Bitcoin through discretionary income is definitely a great strategy but buy Bitcoin through lump sum  from whatever extra funds you have. It would be even better to take risks while investing, if having a good risk tolerance. With the weak management of the global economy, most countries will be under inflation and the value of your cash funds will be devalued. Since Bitcoin is a decentralized asset it is more likely to be unaffected by inflation.
Accumulation Bitcoin regularly through discretionary income and this process in the long term can build a stack of Bitcoin, as well as buying a lump sum of Bitcoin.

First of all using your discretionary income to buy bitcoin is not any of the strategy of buying bitcoin it's only an income that should be used in buying bitcoin, again i don't make mention of lump sum and from your saying i still understand that you don't know what lump sum is you think that lump sum strategy is when an investor uses all his money to invest in bitcoin?  My brother that's not lump sum strategy that's greed and gambling.

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

You are right mate but the volatility is not the major reason we are told to use discretionary income to invest but the reason is that no Investment is guarantee and Bitcoin is not exception so that is why we are advised to use only our discretionary income but since Bitcoin is not control by anyone we should not worry much but instead we should be consistent with our accumulation using the discretionary income because it's a money we can afford to lose or let go. Anyone who is using money outside discretionary income to invest is gambling and they should be ready to accept any outcome.

It seems you didn't read my post well and you rush to quote me if you read very well you will see where i said that the reason we are supposed to use our discretionary income to buy bitcoin is because of it volatility and it also doesn't us guarantee us profit, the volatile nature of bitcoin is also a strong reason why investors should use money they can afford to loss to buy bitcoin which is equally there discretionary income.

[Sim_card]

You guys are saying the same thing as per the reason for making use of discretionary income in Bitcoin investment let's take for instance anyone who uses the money meant for maybe school fees to buy Bitcoin and if there is a negative volatility that is a price drops it can get to a point where the person will sell even at lost in other not to lose everything, so there is nothing wrong saying that volatility is part of the reasons why using a discretionary income should be encouraged.

Because bitcoin is a long-term asset is the reason why you need to use your discretionary income to invest in it so that you can be able to be patient and hodli for long and I believe that it's because of the volatile nature of bitcoin that make it a long-term investment because it increases in value overtime based on history.

If you go and use the money for your needs to invest in bitcoin, you wouldn't be able to hodli for long and I call that gambling because it's the opposite way of becoming successful in your long term bitcoin investment.

[SilverCryptoBullet]

Because bitcoin is a long-term asset

An asset is only an asset, itself.
Difference among people is in how they consider about and use that asset.

is the reason why you need to use your discretionary income to invest in it so that you can be able to be patient and hodli for long and I believe that it's because of the volatile nature of bitcoin that make it a long-term investment because it increases in value overtime based on history.

Volatile nature does not always make an asset is a good long term investment and not always causes value growth over time. You can see it with many altcoins that have too much volatility, even more than Bitcoin, but their values don't increase too much with time while most altcoins die over time. They not only lose values over time but actually die over time.

Choose Bitcoin, ignore altcoins, use discretionary income as investment capital for accumulating bitcoin and hold it over long term, it's good investment advice for well practice too.

[Finebone]

You guys are saying the same thing as per the reason for making use of discretionary income in Bitcoin investment let's take for instance anyone who uses the money meant for maybe school fees to buy Bitcoin and if there is a negative volatility that is a price drops it can get to a point where the person will sell even at lost in other not to lose everything, so there is nothing wrong saying that volatility is part of the reasons why using a discretionary income should be encouraged.

I don't actually buys into that statement because you are making it looks as if volatility is a bad thing, without considering that it's part of the key features of Bitcoin, and if it's not for it volatility, Bitcoin will not be different from our fiat currency that doesn't appreciate in value overtime, instead it gets eaten up by inflation as time passes by.

I believe that the main reason why investing from our discretionary income is encouraged is for us not to get emotionally attached to our Bitcoin investment, since it's a funds we can do away with, for a very long time. But as a bitcoin investor that really wants to be successful in our Bitcoin investment, we do not need to think of volatility because it's one of the key features of Bitcoin that made it special, so buying and accumulating is the best, because with time the volatility of Bitcoin will put you in a more profitable position in the future, when Bitcoin has done times five of it current price.

[cxtreenal]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

You are right mate but the volatility is not the major reason we are told to use discretionary income to invest but the reason is that no Investment is guarantee and Bitcoin is not exception so that is why we are advised to use only our discretionary income but since Bitcoin is not control by anyone we should not worry much but instead we should be consistent with our accumulation using the discretionary income because it's a money we can afford to lose or let go. Anyone who is using money outside discretionary income to invest is gambling and they should be ready to accept any outcome.

You guys are saying the same thing as per the reason for making use of discretionary income in Bitcoin investment let's take for instance anyone who uses the money meant for maybe school fees to buy Bitcoin and if there is a negative volatility that is a price drops it can get to a point where the person will sell even at lost in other not to lose everything, so there is nothing wrong saying that volatility is part of the reasons why using a discretionary income should be encouraged.

The purpose of using discretionary income to accumulate Bitcoin is to keep in existence the holding in the long term and add Bitcoin to the portfolio on a regular basis. If you do not have a regular source of income and discretionary income  it will not be easy for you to stay in Bitcoin accumulation in the long term because buying Bitcoin with your available assets and funds can lead to a funding crisis.
Another positive effect of using discretionary funds is that you can be risk tolerant and allocate the remaining amount from the fund to accumulate Bitcoin after meeting all the needs of the family. With the income stream, you can hold Bitcoin as well as meet your personal needs.

[Grease5000]

success is not a guarantee in bitcoin investment. realistically in as much as bitcoin have the potential of generating high returns  theres also a potential of losing the investment even in the long run because of its high volatility and is very speculative which means no one can predict what the price will be exactly so you saying that investing with the dca method you will definitely be successful could be misleading in the sense that it is not a guaranteed. we need to be well aware of the potentials of bitcoin investment.The dca is just one of the purchasing strategy in bitcoin investment as  what the dca does is to mitigate or help us in reducing the impact of the risk of loss associated with bitcoins high volatility. even though some investors achieved some level of success in bitcoin investment, but it is not a guarantee as you dont judge it with past performance as past performance does not also guarantee future performance.

Having the DCA method is not a guarantee of success in Bitcoin investment. What brings good results when using this strategy to invest in Bitcoin is good decision-making to accumulate Bitcoin and to hodl, as well as the discipline to stick to every decision. However, if your decisions can't remain the same, then it is very possible to end up with a failed investment.

The DCA strategy is a method that plays a role in investment, and every investor also has a role to play, which is to make good decisions and to be disciplined. If you are unable to fulfill your personal role, then the strategy you are applying will never lead to a successful investment. Success in investing depends on the individual first, and the strategy is just a way of making it easier.

I agree with.your opinion but if you are thinking like a real long term investor then the mindset is simple. Don't treat Bitcoin like a quick  trade treat it like a long term asset.

Short term price drop may happen  and they can be scary, but instead of reacting emotionally focus on the big picture course over time  strong asset reward patience. A smart approach which I advice is to buy bitcoin using discretionary income only so that you don't have worry about Volatility and the focus should be  to buy and hold.for.the long term growth and not for speculative purposes.

[Brizi5000]

You guys are saying the same thing as per the reason for making use of discretionary income in Bitcoin investment let's take for instance anyone who uses the money meant for maybe school fees to buy Bitcoin and if there is a negative volatility that is a price drops it can get to a point where the person will sell even at lost in other not to lose everything, so there is nothing wrong saying that volatility is part of the reasons why using a discretionary income should be encouraged.

I don't actually buys into that statement because you are making it looks as if volatility is a bad thing, without considering that it's part of the key features of Bitcoin, and if it's not for it volatility, Bitcoin will not be different from our fiat currency that doesn't appreciate in value overtime, instead it gets eaten up by inflation as time passes by.

I believe that the main reason why investing from our discretionary income is encouraged is for us not to get emotionally attached to our Bitcoin investment, since it's a funds we can do away with, for a very long time. But as a bitcoin investor that really wants to be successful in our Bitcoin investment, we do not need to think of volatility because it's one of the key features of Bitcoin that made it special, so buying and accumulating is the best, because with time the volatility of Bitcoin will put you in a more profitable position in the future, when Bitcoin has done times five of it current price.

the goal is  to invest with not more than you can afford to lose because even though the volatility of bitcoin will put you in a more profitable position in the future, its never a guaranteed as there's also a possibility that the same volatility of bitcoin have the potential to put you in a loss in the future and in order to stay firm without panicking over the downturns of bitcoin potential it is advisable to invest with a discretionary income which is the money left after sorting out our basic needs and we wont be needing it anytime soon. knowing fully well that profit is not a guaranteed in bitcoin so you dont have to be greedy in investing without first of all trying to sort out your basic financial needs, after which the remaining money left with you which is the discretionary income can be used to invest in bitcoin that way you are trying to create a balance between your basic financial needs and bitcoin investment.

[Sticky Bomb]

Bitcoin has been long tested and trusted most reliable above all coin which has also be rewarding long time hodlers but due to the volatility of bitcoin we are not meant to put all our money in bitcoin but only our discretionary income which is the one lift over after we might have resolved all other important needs, the reason to use your discretionary income is because of it volatile nature and not a guarantee of profit so using money that isn't your discretionary income is a dangerous move.

I agree with some of your points but disagree with others. Accumulation Bitcoin through discretionary income is definitely a great strategy but buy Bitcoin through lump sum  from whatever extra funds you have. It would be even better to take risks while investing, if having a good risk tolerance. With the weak management of the global economy, most countries will be under inflation and the value of your cash funds will be devalued. Since Bitcoin is a decentralized asset it is more likely to be unaffected by inflation.
Accumulation Bitcoin regularly through discretionary income and this process in the long term can build a stack of Bitcoin, as well as buying a lump sum of Bitcoin.

When taking risks you have to be very careful not to take such that would affect you negatively in your finances or such that would end up seeing you tapping into your portfolio for survival such as investing beyond your discretionary income, using your emergency fund to lump sum on the dip or even investing all your discretionary income without having any backup funds, these kind of risks are costly ones and such that can negatively impact your accumulation journey. It is better to buy within your means, even if it means to buy in small quantities and maintain consistency in it until your income increases or you are able to cut down on your expenses budget in order to be able to buy with a bigger amount.

You shouldn't be in a rush to deplete your cash reserves, you surely need a good quantity of your backup funds in cash for immediate response if there is an emergency situation, even though bitcoin is a hedge against inflation, we still don't need to put everything into it including funds that should've served as our backup funds. You need to put funds that you would be able to hold for a long term of 4-10 years or more into bitcoin, never be over aggressive in your quest to accumulate bitcoin so you can comfortably go long-term in it and have a successful investment in it.

[Son Of Blockchain (SOB)]

Having the DCA method is not a guarantee of success in Bitcoin investment. What brings good results when using this strategy to invest in Bitcoin is good decision-making to accumulate Bitcoin and to hodl, as well as the discipline to stick to every decision. However, if your decisions can't remain the same, then it is very possible to end up with a failed investment.

The DCA strategy is a method that plays a role in investment, and every investor also has a role to play, which is to make good decisions and to be disciplined. If you are unable to fulfill your personal role, then the strategy you are applying will never lead to a successful investment. Success in investing depends on the individual first, and the strategy is just a way of making it easier.

I agree with.your opinion but if you are thinking like a real long term investor then the mindset is simple. Don't treat Bitcoin like a quick  trade treat it like a long term asset.

Short term price drop may happen  and they can be scary, but instead of reacting emotionally focus on the big picture course over time  strong asset reward patience. A smart approach which I advice is to buy bitcoin using discretionary income only so that you don't have worry about Volatility and the focus should be  to buy and hold.for.the long term growth and not for speculative purposes.

Is there any other strategy that ensures consistency and helps reduce the emotional stress from volatility that's better than the DCA? It might not guarantee success but it has lots of advantage towards being consistent with accumulation. Although some investors feel that once they use a reliable strategy then making lots of money is guaranteed.
 It's not really about the strategy but how patience an investor can be for a lengthy period, even when thngs gets tougher, how well they can hold and also consistent with accumulating too, including being able to protect what they're holding from a third-party.

[DubemIfedigbo001]

Believing in Bitcoin doesn’t mean you should put all your money in it at once. Bitcoin price can fall harder sometimes. So it’s better to buy steadily and keep some money aside incase of emergencies and also to buy more when the price drops.

Everyone has a strategy for anything, especially when it comes to investing, such as buying Bitcoin for the long term. This means that anyone who dares to spend more money to buy Bitcoin for long-term investment is clearly doing so with careful consideration. Without preparation, perhaps no one would dare to buy Bitcoin, even if they strongly believe in it and only have a small amount of money. Therefore, such things must be truly based on a well-measured plan, preparation, and a specific strategy for implementing them.

You don't need a lot of preparation to start investing into bitcoin, as little as identifying to having discretionary income and having common sense, you are good to start, you can always learn and reposition your mindset properly as you advance into your accumulation journey.

No one comes into bitcoin figuring everything out, and you do not need to know everything, you need to start, even if you only have little discretionary fund to buy and be open to learning and understanding yourself and your cashflow better as you advance in order to manage it more efficiently so you can stay invested into bitcoin for longer.

People are afraid to make mistakes and therefore deceive themselves that they're preparing very well before investing, but it is okay to make mistakes as a newbie investor, I can assure you that those mistakes are what brings about maturity when you must have encountered and learned from them. Arriving at some maturity in management of cashflow and consistency in purchases may take the newbie investor some time to learn, yet it is better that they started and learned practically than wasting unnecessary time wanting to learn a lot and overprepare before starting out their investment journey.