JJG’s Outline of Bitcoin Investment Ideas

[Shiny_L@dy]

True, that short term mindset is very common with beginners because many of them enter Bitcoin with a trading mentality instead of an investment mentality…. So they keep focusing too much on quick profits and short term price movements..

But that mindset can actually be put aside though, and honestly it has to be put aside if someone wants to build a more sustainable Bitcoin investment journey… That is one good thing about this forum too, you constantly get exposed to better ways of approaching Bitcoin investment from different experienced people.. Over time, you just consciously and subconsciously start adopting a more proper long term mindset naturally..

Approaching bitcoin investment with trading mindset is not a positive approach to go into bitcoin mindset with. Such mindset is only about the short term profits and quick profits and when investing in bitcoin we shouldn’t take profits as one of the factors that brings us to the journey or one of the reasons that inspire us or lure us into the journey. 
 Seeing profits as a factor that brought us to bitcoin investment is a trading mindset and that not the goal here, let focus on the future goals, let have the mindset of securing our future now and having positive plans towards our future not seeing short term goals as a huge achievement. Hold and hold as we possibly can for the future and let not see profits taking as a reason at all to stop accumulating and holding. 

we cannot be completely confident about how long the BTC price will stay within a certain price range or whether the next breakout will be upward or downward. If we have a fairly strong idea of  the direction . we can adjust our behavior according to our expectations. But even then  we can be wrong. This is why the price can go in any direction, even the opposite of our expectations. We should always be financially or psychologically prepared for this possibility.

Whenever possible, there are probably continuous attempts to influence the price, but sometimes the price cannot be held at its current position or the manipulators cannot push it in the desired direction. Rather than getting too involved in the expected fluctuations in the price of BTC in the short term, we should focus more on our own ability to buy Bitcoin and our ability to adequately manage our cash flow. Focusing on the other side will not be very helpful.

In particular, the impact depends more on the level of our own aggressiveness and savings status. In the early stages of Bitcoin accumulation, most people focus on continuously saving through purchases and will not take much of a break from their savings. They may only take a break if their income decreases or their expenses increase, and then sometimes they can take some steps to increase their income or reduce their expenses. Everyone has to find a solution to this, whether they will continue to buy continuously or change their strategy and stop buying continuously.

[Nheer]

Buying can still be done but you must try to manage cash flow well first and discipline yourself in your financial management because I believe when someone wants to try to invest especially to be in bitcoin in the long run they must have a foundation in good cash flow first

Your statement might mislead beginners so we have to be careful with what we say. It's totally wrong saying you must have a good cash flow foundation before first before investing. You don't necessarily have to have a foundation of good cash flow before investing because if you want to wait out to build a solid foundation you're practically wasting a lot of time which in turn is a waste of opportunity. Having a good cash flow is good for investment but shouldn't be a reason keeping you from investing. You can invest first even if your discretionary income is not much and can't cover other areas like emergency funds yet, and then you can build a strong cash flow as you proceed with your investment.

You must be able to distinguish between huge and good cash flow in this case.
Huge cash flow cannot necessarily make us have good cash flow because in this case large or small is not a measure but it is different when we run a good cash flow where we can put the initial position of the money we have for some basic needs and discretionary funds that we have.
So with this when we have good cash flow (not huge as you notice) we will not have a gap to stop buying because we have prepared the money you want to buy for bitcoin from the start and it does not interfere with other needs including basic needs because what we use comes from the discretionary funds we have.

I think the difference between both actually comes down to how well you manage your finances. When someone has a huge cash flow there’s a higher chance that their investments will go well because they have enough funds to put into the right areas which is good for the investment. A large cash flow can easily become a good cash flow if it is managed properly.

[Grace333]

Buying can still be done but you must try to manage cash flow well first and discipline yourself in your financial management because I believe when someone wants to try to invest especially to be in bitcoin in the long run they must have a foundation in good cash flow first

The bold part of your comment seems wrong because based on my little knowledge, I believe that it's not compulsory to acquire a huge cash flow before you/anyone can start buying Bitcoin. If you think it's compulsory then it obvious that you neglect the importance of starting small. There are so many Bitcoin folks today that started buying Bitcoin during the period of time that their cash flow was very low, but a long the process of accumulating more Bitcoin they also created opportunity in other to increase their cash flow.
So what I'm trying to say here is that it's important to start small and it's not mandatory for beginners to have a stable income flow or huge cash flow before they can start buying Bitcoin because that's literally one of the thing that keeps a lot of people from procrastinating and at the end they eventually end up not investing at all. So it's important to start with your little cash flow, the necessary thing to do is invest into Bitcoin through your discretionary income.

Actually the bold part of your comment seems wrong because from my own perspectives you only talked about preparation but the question is what are you preparing for if you can not investing with your little cash flow during the process process of creating another means of generating income.

You must be able to distinguish between huge and good cash flow in this case.
Huge cash flow cannot necessarily make us have good cash flow because in this case large or small is not a measure but it is different when we run a good cash flow where we can put the initial position of the money we have for some basic needs and discretionary funds that we have.
So with this when we have good cash flow (not huge as you notice) we will not have a gap to stop buying because we have prepared the money you want to buy for bitcoin from the start and it does not interfere with other needs including basic needs because what we use comes from the discretionary funds we have.

It's not about having a good cash flow or a huge cash flow the most important thing is having a discretionary income that allows you to invest in bitcoin outside money for your basic needs. Besides aren't you aware that there are people who earn money but have no discretionary income to spare for bitcoin investment? There are persons with good cash flow or huge cash flow with lots of debts and mortgages that they end up not having discretionary income. However it's more important to direct our focus to discretionary than looking at the overall cash flow, though if a folk has good or huge cash flow with wide discretionary income it would definitely be an added advantage to his accumulation because he has the luxury to frontload his investment yet, it's not a necessity that everyone must have good cash flow before they can invest in bitcoin, even the poor has a place in bitcoin provided they have discretionary income irrespective of its size.

[gracreavix]

The truth still remains that anyone who want to follow short way will always be caught short especially in Bitcoin, it is a very volatile asset so thinking of  it about the short way will not be really funny because you will be liquidated that is why it is advisable to invest and have the long term mindset using our discretionary income since there is no guarantee but the potential of Bitcoin is the only thing that keeps investors hope so high because we have fate it will do well in the future.

Longterm approach when it comes to Bitcoin investment is actually the most reliable and profitable approach we’ve seen. Judging from backlogs of data’s when it comes to the statistics of long term investor and short term traders, you will see that longterm investors as way more profitable in a long run. We can as well check the likes of JJG and others here and how he has been able to maintain a sustainable and admirable Bitcoin investment over time.
So whenever I see people thinking short term or trading, I see it as they haven’t gotten a broader view of what Bitcoin really is and how DCAing and a slow and steady investment could be all they need.
There is an incredible quote by Andre De Shields which says: Slowly is the faster way to get to where you want to be.  And I think this applies to Bitcoin investment, because most people that tried to trade and outsmart the market violating the rules of longevity, usually ends up regretting.

[Baki202]

I agree with you that we need to take a break sometimes because taking a break is a way to recharge and get back to the same or more momentum. Some may have financial problems like losing their jobs and some may have business losses. Some may have physical health problems. You need to have alternative financial arrangements to solve each problem.

When doing DCA you may encounter situations where it is better to take a break rather than maintain continuity. Many investors may not have a fixed amount of money allocated to DCA because the amount of discretionary income is not the same every time.

Those problems that you mentioned above are real life emergencies which is the main reason why you should set up an emergency funds to comb to unforeseen circumstances that will play out during our bitcoin accumulation stage.

There is no way that challenges will not come and one of the ways to take care of emergencies especially when you are investing is for you to have,  there is no way that problems will not come so before they come you have to be prepared before they come so that they will not take you unaware, because when it comes and you are not prepared then one thing you will do is to sell your  asset because that is what most of them know how to do when don't have emergency funds.

There's no need to go on a break when accumulating bitcoin and the only reason for that is if you don't have a discretionary income at that moment. You can wait till you have a discretionary income and continue accumulating bitcoin. If you have a discretionary income and choose not to buy bitcoin because you are on break, it will slow down your bitcoin accumulation pace and reduce the quantity of bitcoin that you are supposed to accumulate overtime.

Plans can be made but when you are doing it you have to make sure you are doing it right that is one thing about been very strategic about this whole thing, and now when you have plans to accumulate then what are the things that needed to be done, and first thing that qualify anyone to have the intention to want to invest is that you must have a means of earning that is the only way that you will be able go get your discretionary income and then also your emergency funds so that is like one of the most effective way for you to become a investor because even if you want to do DCA and no means of income it won't work.

[Gentle_Soul]

The truth still remains that anyone who want to follow short way will always be caught short especially in Bitcoin, it is a very volatile asset so thinking of  it about the short way will not be really funny because you will be liquidated that is why it is advisable to invest and have the long term mindset using our discretionary income since there is no guarantee but the potential of Bitcoin is the only thing that keeps investors hope so high because we have fate it will do well in the future.

Longterm approach when it comes to Bitcoin investment is actually the most reliable and profitable approach we’ve seen. Judging from backlogs of data’s when it comes to the statistics of long term investor and short term traders, you will see that longterm investors as way more profitable in a long run. We can as well check the likes of JJG and others here and how he has been able to maintain a sustainable and admirable Bitcoin investment over time.
So whenever I see people thinking short term or trading, I see it as they haven’t gotten a broader view of what Bitcoin really is and how DCAing and a slow and steady investment could be all they need.
There is an incredible quote by Andre De Shields which says: Slowly is the faster way to get to where you want to be.  And I think this applies to Bitcoin investment, because most people that tried to trade and outsmart the market violating the rules of longevity, usually ends up regretting.

I took my time to read out on JJG's outline and in one of his responses to the first critics on this thread he mentioned in one of his responses when bought his first Bitcoin in the year 2013 and for a while he never made any visible profit from his investment not until in 2017 which was around about 3 years and 5 months after his first investment that he made profit so investing in Bitcoin requires that you hold a bit longer and thats why you need to use your discretionary income to DCA.