JJG’s Outline of Bitcoin Investment Ideas

[Itz-prisigold]

You need to ensure your bill for the current cycle is covered. At least small buffer is necessary but most importantly, stable income is a must.

Many times we think about monthly cycles in terms of bills, yet surely folks might have their income and/or bills coming in different frequencies.

There is also no need to establish a "stable income" prior to getting started buying bitcoin as long as a person is able to determine that they have discretionary funds available.

There could be issues about continuing to invest in bitcoin for some folks who have unstable income and unstable expenses, yet each time that they are considering whether or not to buy some bitcoin, the main consideration remains the extent to which they then have an amount of discretionary funds that they consider sufficient to buy some more bitcoin, whether that is $100, $10 or some other amount that they consider to be reasonable within their own determinations.

I believe, this is the section many people always misunderstand when they are talking about Bitcoin accumulation. They always make Bitcoin accumulation sounds like a person need to reach some perfect level of financial stability before they should think of investing into Bitcoin, but the important thing is do they have the “discretionary income”  at that time to make a purchase in the first place?

People should understand that a person with irregular source of income can make a stable  investment in Bitcoin as long as they know how to manage their cash flow and only invest what they can afford after paying their bills. There are weeks that your discretionary income might be higher, some weeks lower or none at all in different weeks. This does not mean that the accumulation process is invalid or cannot be sustained.

The most important thing is that you're not forcing a strict monthly structure,  but trying to understand your personal financial situation well enough to know when discretionary income is really available for investment. Don't be mistaken, consistency doesn't always mean investing the same amount each and every week/month.  It can also refer to keeping the discipline to continue allocating responsibly whenever you have discretionary income.

[Princess Leah]

I think you sound confused and don't understand what you want to say here. You made it clear yourself that expecting a guaranteed profit from investment is wrong because of its volatility and then you still went on to say "definitely if you invest in Bitcoin for a very long time you will gain profit because of Bitcoin history and past performances.

Well you should know that profit is never guaranteed in Bitcoin investment even though you hold for a very long time. It's true Bitcoin has done well in the past and recovered every dip but it's still not a guarantee because in future no one knows what will happen. When profit making is your sole purpose of investing then you're investing with a wrong mindset. Profit is one of the extra benefits of investment but shouldn't be the reason you are investing.

Even though nothing is guaranteed in Bitcoin, it doesn't mean that we should not allow people to believe in whatever they want to believe in, people believe in Bitcoin because of history which is the past events that keeps reoccurring, Bitcoin has continued to prove that it is truly a long-term investment that is capable up surging in the future, if we look back to when Bitcoin was created till the very time, we will see reasons why no matter what you tell some people about nothing being guaranteed whether as a short term or long-term investor in Bitcoin, they won't want to listen to such or take such word serious, let's not forget that some persons had the opportunity to invest those days and were discouraged with different mindset or doubt, do you think such persons will take this statement serious? They'll see it as discouragement rather than truth, the word nothing is been guaranteed exist because of volatility which means price fluctuations, it also exist because of unexpected occurrence but we should allow people to believe in what they have conviction on.

People can believe whatever they like but the most important thing is not allowing them mislead or influence your ideology of Bitcoin investment, it is very true that profits is not guaranteed, even though people who had held it before now profited on the long run it doesn't still guarantee profits since Bitcoin is an asset that's held for future purpose.

 Last time I checked, none of us here can predict what the price of Bitcoin would be like in the near future not to talk of far when it held longer so we can just keep having the hope that if we keep holding it would continue to follow the pattern that it has followed in the past years instead of thinking that profits is guaranteed when it's held longer.

[Bitcoin-Forever]

You need to ensure your bill for the current cycle is covered. At least small buffer is necessary but most importantly, stable income is a must.

Many times we think about monthly cycles in terms of bills, yet surely folks might have their income and/or bills coming in different frequencies.

There is also no need to establish a "stable income" prior to getting started buying bitcoin as long as a person is able to determine that they have discretionary funds available.

There could be issues about continuing to invest in bitcoin for some folks who have unstable income and unstable expenses, yet each time that they are considering whether or not to buy some bitcoin, the main consideration remains the extent to which they then have an amount of discretionary funds that they consider sufficient to buy some more bitcoin, whether that is $100, $10 or some other amount that they consider to be reasonable within their own determinations.

I believe, this is the section many people always misunderstand when they are talking about Bitcoin accumulation. They always make Bitcoin accumulation sounds like a person need to reach some perfect level of financial stability before they should think of investing into Bitcoin, but the important thing is do they have the “discretionary income”  at that time to make a purchase in the first place?

After you have settled with your discretionary income, this will help you to concentrate more about the strategy you wanted to adopt for your investment and most people consider DCA on this aspects, because it gives you a perfect streamline to how you could invest for maximum profitability with your monthly income plan being put inconsideration at the same time.

One of the reason I like this trade is because it gives you more exposition to what is needed to be done and you could as well learned from others who are doing the same thing that gives them results when it's comes to investment on Bitcoin, everyone is coming up with their ideas and the main strategy they use that draw decline of success they achieve with bitcoin investments, more suitable for learning and not only that but we have to put everything into action as we gain more insights.

[Jody.Drummer]

If someone's income is irregular, but still has extra money left after spending, then it is possible to invest with that. And that money will remain as discretionary income and if the income is not stable, many people think that DCA cannot be done easily. But I don't think that if you work on a contract or do any other type of work where the payment does not maintain a fixed time schedule, then it is possible to buy Bitcoin regularly weekly by keeping the DCA amount fixed.

Because the person who will invest has enough idea about his own income. He can keep aside the estimated amount of expenses he may have until his next income comes and do DCA equally with the remaining extra money. If follow this, it will be possible to do DCA in the same amount even though his income is irregular and unstable.

I agree with you, when our financial situation is not stable or with irregular income but when expenses are met and there is still more money then it can be used properly such as investing it. And with DCA of course this can still be done if we really intend to do it, maybe for some people this will be difficult but not for those who have the intention even though their income is irregular but I think this can still be done even consistently. The way that might be done is to prioritize investment with an amount that is not too large so with the income he gets, the first step is to allocate it first for investment and after that meet the needs with a note that the amount allocated for investment is not so large but consistently do it.

[Cgrexp]

You need to ensure your bill for the current cycle is covered. At least small buffer is necessary but most importantly, stable income is a must.

Many times we think about monthly cycles in terms of bills, yet surely folks might have their income and/or bills coming in different frequencies.

There is also no need to establish a "stable income" prior to getting started buying bitcoin as long as a person is able to determine that they have discretionary funds available.

There could be issues about continuing to invest in bitcoin for some folks who have unstable income and unstable expenses, yet each time that they are considering whether or not to buy some bitcoin, the main consideration remains the extent to which they then have an amount of discretionary funds that they consider sufficient to buy some more bitcoin, whether that is $100, $10 or some other amount that they consider to be reasonable within their own determinations.

I believe, this is the section many people always misunderstand when they are talking about Bitcoin accumulation. They always make Bitcoin accumulation sounds like a person need to reach some perfect level of financial stability before they should think of investing into Bitcoin, but the important thing is do they have the “discretionary income”  at that time to make a purchase in the first place?

After you have settled with your discretionary income, this will help you to concentrate more about the strategy you wanted to adopt for your investment and most people consider DCA on this aspects, because it gives you a perfect streamline to how you could invest for maximum profitability with your monthly income plan being put inconsideration at the same time.

One of the reason I like this trade is because it gives you more exposition to what is needed to be done and you could as well learned from others who are doing the same thing that gives them results when it's comes to investment on Bitcoin, everyone is coming up with their ideas and the main strategy they use that draw decline of success they achieve with bitcoin investments, more suitable for learning and not only that but we have to put everything into action as we gain more insights.

Once you have established the methods for buying Bitcoin, it becomes easier to decide to invest in Bitcoin. When the methods and habits are already in place, it becomes easier to decide to invest, and maybe you want to spend more on something, so you decide to invest only half of your bonus instead of the whole. We can adjust our level of aggressiveness from time to time based on changes in our lives. Especially based on changes in our income, expenses, or even our psychology. A balance needs to be struck in the spending of discretionary funds such as investments, savings, or discretionary consumption. So we may need to adjust our choices from time to time. Especially if we have leaned too much in a certain direction for several months, some adjustments may be needed to restore balance. When we have leaned too much in one direction. In the case of another person, we cannot determine how much rebalancing may be necessary for him.

[Different patterns]

Bitcoin is never too late for investment and that is why everyone have to sat down and calculate things well before join the race, it is not a race of survivor but it is a race that will elevate your status that is why it requires serious attention before going into it. Even by using DCA strategies you still need a discretionary income to make things work for you perfectly to avoid any blockage at the end.

Saying you have to sit and calculate things well before investing is wrong and is misleading for newcomers here on the thread. There's nothing to sit down to calculate and besides waiting to calculate things is a waste of time for Bitcoin investment. There's really no reason to sit and wait till you figure things out. The only reason you have to not invest is when you don't have discretionary income but immediately you have discretionary income you should not delay the investment further you should invest immediately.

Investing doesn't require figuring things out, or having knowledge to start, everything including knowledge can be learned as your investment is ongoing so it's not a reason to delay your investment. All that needs to be figured is your discretionary income and a person's common sense can figure out discretionary income because it's just money left after taking care of your necessary expenses.

I don’t fully agree with the idea that someone has to “sit down and calculate things well” before starting Bitcoin investment. Because  if he keeps waiting to figure everything out first, he may keep postponing and never begin.The truth is,  buying of bitcoin doesn’t need complicated calculations at the start. Once one can identify his or her discretionary income (money left after necessary expenses ) that is already enough to begin small.

Most things, including experience and deeper knowledge, are learned along the journey. What matters early on is not perfection, but consistency and discipline. So instead of overthinking, the smarter move is simple, start with what you can afford, stay consistent, and improve gradually over time.

Your point is understandable, I believe there’s truth in it, waiting to perfectly calculate everything or fully understood everything can sometimes delay people from getting started with bitcoin, because many people learn more better via experience than through preparation. At same time the important thing is not complicated calculation. but it simply having some awareness about your financial situation, once person know that is using discretionary income not funds that meant for important things, that’s already good foundation to begin gradually. Because bitcoin investment is about consistency and patience over time and also confidence and knowledge working together along the journey. So I agree that when someone starting gradually with what one can afford, while continuing to learn gradually, that can help a long way in bitcoin.

[ChocolateBitcoinK]

It is absolutely wrong for someone to expect a guarantee profit in investment because bitcoin is different from any other investment and due to volatile the guarantee profit cannot be achieved with Bitcoin, understand me well definitely if you invest in Bitcoin for a very long time you will gain profit because looking at how bitcoin came and how it was moving up to this stage we can see that it's always move up even when it's moved down that is nature and definitely it will push back again.

I think you sound confused and don't understand what you want to say here. You made it clear yourself that expecting a guaranteed profit from investment is wrong because of its volatility and then you still went on to say "definitely if you invest in Bitcoin for a very long time you will gain profit because of Bitcoin history and past performances.

Well you should know that profit is never guaranteed in Bitcoin investment even though you hold for a very long time. It's true Bitcoin has done well in the past and recovered every dip but it's still not a guarantee because in future no one knows what will happen. When profit making is your sole purpose of investing then you're investing with a wrong mindset. Profit is one of the extra benefits of investment but shouldn't be the reason you are investing.

I believe that what is guarantee in this life we are is dealt nothing else is guarantee making profits or even successful in bitcoin investment is not even guarantee even though we hodl for long but we only hope if been successful in bitcoin long term investment but no guarantee due to it volatility, this is also one reason we are expected to invest with our discretionary income which is money we won't be needing in a long time incase our investment went in a way we didn't expect there won't be any cos to panic.

Many people think that Bitcoin or any investment is a surefire way to make money, but the reality is that nothing is 100% sure, not just Bitcoin, but any type of investment. It is true that if we can hold Bitcoin for the long term, there may be a possibility of getting good results in the long term, but still the market will always be uncertain and we have to accept that and invest. If we are not mentally prepared for these issues, then there is more risk.

[Showlove01]

Snip.

You must set your own goals, those who invest in Bitcoin must hold Bitcoin for the future with confidence and commitment to themselves. However, if you keep Bitcoin for a long time, it will definitely be possible to profit, because Bitcoin is being traded with your desired income. So the risk will be much lower, those who are afraid to accept it will basically not participate in Bitcoin investment. You must invest in Bitcoin for the future by taking risks and using patience.

Yes, setting clear goals and having a long-term commitment is the most important part of Bitcoin investing. This approach can help investors navigate volatility with a foundation of patience, making Bitcoin part of a well planned portfolio strategy. Investing in Bitcoin requires confidence in long-term value growth, so investors must have clear goals to help them stay calm when prices fluctuate, as Bitcoin is known as a highly dynamic asset. Successful investors in Bitcoin investing are not necessarily fearless, but they have measured the risks before taking further steps in investing.

Investors should throw away the "guaranteed profit" mindset because there is no guarantee of profit in any investment, including Bitcoin. Technologically, the future of Bitcoin cannot be guaranteed to always be bright (it could fail) if there are regulatory changes or it is replaced by other technologies, If this scenario occurs, holding Bitcoin long term will not help you. The risks of investing in speculative assets are very real, which is why the golden rule of investing is always to "only use money you can afford to lose."

I agree that confidence and patience are important, but no investment should be seen as definite profit. As a smart Bitcoin investor  you should sets realistic goals and invests with discretionary income so you can stay calm during volatility. Though long term holding improves the chances of growth, but discipline and consistency are what really matter.

The best approach is to take calculated risks, keep accumulating steadily, and avoid expectations of guaranteed returns.

The idea and best way to go about Bitcoin investment has always been using discretionary income to accumulate or purchase and the reason why some people are making mistake in their Bitcoin accumulation is because they don't know how to sort out their discretionary income and it is not advisable to do that because they are gambling with their expenses money and these folks can sell or panic easily whenever there's a Dip.

[Grease5000]

Newbies do not need to figure out self-custody before they start to buy bitcoin, and they also can figure out for themselves the extent to which they are better off to have some of their coins in self-custody rather than being held with third parties such as exchanges.  Otherwise, I agree with you that there are risks in holding coins with 3rd parties, and the fact of the matter those are not real bitcoin, yet at the same time, some people might take some time before they are ready, willing and/or able to move to self-custody and to actually act in order to figure out and also to begin to use the private wallets that they consider suitable to their situation.

Exchanges carries high risk for the facts that we are not in position of the private keys but for learning self custody before embarking on a bitcoin investment journey can be seen as procrastination. So I fully agree with your point.
It clearly okay to start with storing our holdings in exchanges and have proper time to learn and expand our knowledge about bitcoin and also the plan of moving our funds into private wallet. With proper education and experience we could later decide on when we are fully ready to move our holdings into self custody.

Bitcoin is an accessible currency no need to get frustrated over any little situations of where to store our holdings. And this self custody of a thing shouldn’t serve as an obstacle which is refraining us from starting our bitcoin journey. We can start with exchanges and accumulate gradually for proper education before moving our holdings.

I agree. A beginner doesn’t need to master self custody before buying Bitcoin. The important thing is to start learning while accumulating.

A simple solution is for him or her  to begin small on a trusted exchange, then over time move into self custody as his knowledge and holdings grow. That way, he avoids delaying his investment while still improving his security over time.

[Grease5000]

It is absolutely wrong for someone to expect a guarantee profit in investment because bitcoin is different from any other investment and due to volatile the guarantee profit cannot be achieved with Bitcoin, understand me well definitely if you invest in Bitcoin for a very long time you will gain profit because looking at how bitcoin came and how it was moving up to this stage we can see that it's always move up even when it's moved down that is nature and definitely it will push back again.

I think you sound confused and don't understand what you want to say here. You made it clear yourself that expecting a guaranteed profit from investment is wrong because of its volatility and then you still went on to say "definitely if you invest in Bitcoin for a very long time you will gain profit because of Bitcoin history and past performances.

Well you should know that profit is never guaranteed in Bitcoin investment even though you hold for a very long time. It's true Bitcoin has done well in the past and recovered every dip but it's still not a guarantee because in future no one knows what will happen. When profit making is your sole purpose of investing then you're investing with a wrong mindset. Profit is one of the extra benefits of investment but shouldn't be the reason you are investing.

I believe that what is guarantee in this life we are is dealt nothing else is guarantee making profits or even successful in bitcoin investment is not even guarantee even though we hodl for long but we only hope if been successful in bitcoin long term investment but no guarantee due to it volatility, this is also one reason we are expected to invest with our discretionary income which is money we won't be needing in a long time incase our investment went in a way we didn't expect there won't be any cos to panic.

Many people think that Bitcoin or any investment is a surefire way to make money, but the reality is that nothing is 100% sure, not just Bitcoin, but any type of investment. It is true that if we can hold Bitcoin for the long term, there may be a possibility of getting good results in the long term, but still the market will always be uncertain and we have to accept that and invest. If we are not mentally prepared for these issues, then there is more risk.

For me, the key is understanding the long term erm value. When you look at Bitcoin’s journey from the beginning until now, you can see that despite the corrections and crashes, it has always recovered and continued growing over time. That’s why patience, discipline, and long term thinking matter a lot in Bitcoin investment.

[The Founding Titan]

It is absolutely wrong for someone to expect a guarantee profit in investment because bitcoin is different from any other investment and due to volatile the guarantee profit cannot be achieved with Bitcoin, understand me well definitely if you invest in Bitcoin for a very long time you will gain profit because looking at how bitcoin came and how it was moving up to this stage we can see that it's always move up even when it's moved down that is nature and definitely it will push back again.

I think you sound confused and don't understand what you want to say here. You made it clear yourself that expecting a guaranteed profit from investment is wrong because of its volatility and then you still went on to say "definitely if you invest in Bitcoin for a very long time you will gain profit because of Bitcoin history and past performances.

Well you should know that profit is never guaranteed in Bitcoin investment even though you hold for a very long time. It's true Bitcoin has done well in the past and recovered every dip but it's still not a guarantee because in future no one knows what will happen. When profit making is your sole purpose of investing then you're investing with a wrong mindset. Profit is one of the extra benefits of investment but shouldn't be the reason you are investing.

I believe that what is guarantee in this life we are is dealt nothing else is guarantee making profits or even successful in bitcoin investment is not even guarantee even though we hodl for long but we only hope if been successful in bitcoin long term investment but no guarantee due to it volatility, this is also one reason we are expected to invest with our discretionary income which is money we won't be needing in a long time incase our investment went in a way we didn't expect there won't be any cos to panic.

Many people think that Bitcoin or any investment is a surefire way to make money, but the reality is that nothing is 100% sure, not just Bitcoin, but any type of investment. It is true that if we can hold Bitcoin for the long term, there may be a possibility of getting good results in the long term, but still the market will always be uncertain and we have to accept that and invest. If we are not mentally prepared for these issues, then there is more risk.

For me, the key is understanding the long term erm value. When you look at Bitcoin’s journey from the beginning until now, you can see that despite the corrections and crashes, it has always recovered and continued growing over time. That’s why patience, discipline, and long term thinking matter a lot in Bitcoin investment.

It is absolutely wrong for someone to expect a guarantee profit in investment because bitcoin is different from any other investment and due to volatile the guarantee profit cannot be achieved with Bitcoin, understand me well definitely if you invest in Bitcoin for a very long time you will gain profit because looking at how bitcoin came and how it was moving up to this stage we can see that it's always move up even when it's moved down that is nature and definitely it will push back again.

I think you sound confused and don't understand what you want to say here. You made it clear yourself that expecting a guaranteed profit from investment is wrong because of its volatility and then you still went on to say "definitely if you invest in Bitcoin for a very long time you will gain profit because of Bitcoin history and past performances.

Well you should know that profit is never guaranteed in Bitcoin investment even though you hold for a very long time. It's true Bitcoin has done well in the past and recovered every dip but it's still not a guarantee because in future no one knows what will happen. When profit making is your sole purpose of investing then you're investing with a wrong mindset. Profit is one of the extra benefits of investment but shouldn't be the reason you are investing.

I believe that what is guarantee in this life we are is dealt nothing else is guarantee making profits or even successful in bitcoin investment is not even guarantee even though we hodl for long but we only hope if been successful in bitcoin long term investment but no guarantee due to it volatility, this is also one reason we are expected to invest with our discretionary income which is money we won't be needing in a long time incase our investment went in a way we didn't expect there won't be any cos to panic.

Many people think that Bitcoin or any investment is a surefire way to make money, but the reality is that nothing is 100% sure, not just Bitcoin, but any type of investment. It is true that if we can hold Bitcoin for the long term, there may be a possibility of getting good results in the long term, but still the market will always be uncertain and we have to accept that and invest. If we are not mentally prepared for these issues, then there is more risk.

For me, the key is understanding the long term erm value. When you look at Bitcoin’s journey from the beginning until now, you can see that despite the corrections and crashes, it has always recovered and continued growing over time. That’s why patience, discipline, and long term thinking matter a lot in Bitcoin investment.

You could have merged both of these quotes into one instead of separating them like this.
Bitcoin has been more successful than not since it started and even though not everyone who claims to have invested in it have been successful the truth is that we've seen more successful bitcoin investors than not and even most of those who failed ended up in that position because they lost focus, started accumulating from outside of their discretionary income and started chasing quick profit because waiting became near impossible for them, success isn't guaranteed but the chances of success are high enough to repeatedly be pulling more and more people into investing in it, it's just that some people get too greedy that they forget to use only their discretionary income to invest with most of which are ultimately traders instead of investors.

[Creeper0]

I agree. A beginner doesn’t need to master self custody before buying Bitcoin. The important thing is to start learning while accumulating.

A simple solution is for him or her  to begin small on a trusted exchange, then over time move into self custody as his knowledge and holdings grow. That way, he avoids delaying his investment while still improving his security over time.

Aren't you neglecting basic knowledge? It may not take much time to acquire basic knowledge about self-custody wallets and acquire basic management skills. Even if you are a person of average intelligence, it may take you only a few hours to acquire general knowledge about wallets. Managing a self-custody wallet is relatively easier than managing an exchange. Especially before starting to invest, acquiring knowledge and skills on how to store Bitcoin in a self-custody wallet is part of the basic knowledge that is important to acquire.

You should not delay investing, but you should not be so hasty that you jump into investing without knowing the strategy to store your purchased Bitcoin safely. I would say, never delay acquiring the most important basic knowledge. If you delay investing for a few hours, you may only be delaying the investment, but you are putting your funds at risk by not learning about self-custody wallets. Don't be lazy and acquire the necessary knowledge quickly. We shouldn't be in too much of a hurry to start investing.

[SmartCharpa]

You need to ensure your bill for the current cycle is covered. At least small buffer is necessary but most importantly, stable income is a must.

Many times we think about monthly cycles in terms of bills, yet surely folks might have their income and/or bills coming in different frequencies.

There is also no need to establish a "stable income" prior to getting started buying bitcoin as long as a person is able to determine that they have discretionary funds available.

There could be issues about continuing to invest in bitcoin for some folks who have unstable income and unstable expenses, yet each time that they are considering whether or not to buy some bitcoin, the main consideration remains the extent to which they then have an amount of discretionary funds that they consider sufficient to buy some more bitcoin, whether that is $100, $10 or some other amount that they consider to be reasonable within their own determinations.

It’s very surprising that some people still have this mindset of thinking you need to have a stable income before investing in Bitcoin. And with the economy of some countries, some individuals find it difficult to have a stable income, but he assume everyone has to wait until they get stable income before they can invest in Bitcoin.

Moreover, having a stable income is not a must, as long as you have a discretionary income from what you earn whether weekly or monthly, you can invest in Bitcoin. The most important thing is having discretionary income, with any amount of your choice, and you can figure out your emergency funds later.

[Silikiem]

You need to ensure your bill for the current cycle is covered. At least small buffer is necessary but most importantly, stable income is a must.

Many times we think about monthly cycles in terms of bills, yet surely folks might have their income and/or bills coming in different frequencies.

There is also no need to establish a "stable income" prior to getting started buying bitcoin as long as a person is able to determine that they have discretionary funds available.

There could be issues about continuing to invest in bitcoin for some folks who have unstable income and unstable expenses, yet each time that they are considering whether or not to buy some bitcoin, the main consideration remains the extent to which they then have an amount of discretionary funds that they consider sufficient to buy some more bitcoin, whether that is $100, $10 or some other amount that they consider to be reasonable within their own determinations.

I believe, this is the section many people always misunderstand when they are talking about Bitcoin accumulation. They always make Bitcoin accumulation sounds like a person need to reach some perfect level of financial stability before they should think of investing into Bitcoin, but the important thing is do they have the “discretionary income”  at that time to make a purchase in the first place?

After you have settled with your discretionary income, this will help you to concentrate more about the strategy you wanted to adopt for your investment and most people consider DCA on this aspects, because it gives you a perfect streamline to how you could invest for maximum profitability with your monthly income plan being put inconsideration at the same time.

One of the reason I like this trade is because it gives you more exposition to what is needed to be done and you could as well learned from others who are doing the same thing that gives them results when it's comes to investment on Bitcoin, everyone is coming up with their ideas and the main strategy they use that draw decline of success they achieve with bitcoin investments, more suitable for learning and not only that but we have to put everything into action as we gain more insights.

Being so profit minded as a new investor have the tendency of turning you into a trader. Coming into bitcoin investment as a long term investor your major concern should be on how you can accumulate a decent amount of bitcoin to build a strong portfolio and reach your accumulation target or perhaps over accumulation and hold for long term goal. For sure, there’s a potential of generating profit in bitcoin but then this profit making mindset is what have really contributed to most investors not being able to reach their long term investment goal because they want to maximize profit at any given time leading them to become traders of bitcoin and not really investors of bitcoin.

[Rabata]

I agree. A beginner doesn’t need to master self custody before buying Bitcoin. The important thing is to start learning while accumulating.

A simple solution is for him or her  to begin small on a trusted exchange, then over time move into self custody as his knowledge and holdings grow. That way, he avoids delaying his investment while still improving his security over time.

Aren't you neglecting basic knowledge? It may not take much time to acquire basic knowledge about self-custody wallets and acquire basic management skills. Even if you are a person of average intelligence, it may take you only a few hours to acquire general knowledge about wallets. Managing a self-custody wallet is relatively easier than managing an exchange. Especially before starting to invest, acquiring knowledge and skills on how to store Bitcoin in a self-custody wallet is part of the basic knowledge that is important to acquire.

You should not delay investing, but you should not be so hasty that you jump into investing without knowing the strategy to store your purchased Bitcoin safely. I would say, never delay acquiring the most important basic knowledge. If you delay investing for a few hours, you may only be delaying the investment, but you are putting your funds at risk by not learning about self-custody wallets. Don't be lazy and acquire the necessary knowledge quickly. We shouldn't be in too much of a hurry to start investing.

Self-custody, wallet security, and seed words are certainly important for us. But the way you say it, it may seem like learning self-custody before starting Bitcoin is almost mandatory. And such an idea can actually delay beginners unnecessarily. If a new investor who wants to start is given the mandatory condition of so-called basic knowledge on the first day, it is possible that he may delay starting, and I even doubt whether he will start at all. Because preparing for so-called basic knowledge at the beginning can put a new investor under stress. One thing is repeatedly said here that putting a large amount on the exchange in the beginning and starting with a small amount with the aim of learning are two different things. Our ultimate goal is of course self-custody. But in the beginning giving small amounts to the exchange is not a bad thing. Rather, it can also save you from repeated transaction fees.

[Bigthraex]

It is absolutely wrong for someone to expect a guarantee profit in investment because bitcoin is different from any other investment and due to volatile the guarantee profit cannot be achieved with Bitcoin, understand me well definitely if you invest in Bitcoin for a very long time you will gain profit because looking at how bitcoin came and how it was moving up to this stage we can see that it's always move up even when it's moved down that is nature and definitely it will push back again.

I think you sound confused and don't understand what you want to say here. You made it clear yourself that expecting a guaranteed profit from investment is wrong because of its volatility and then you still went on to say "definitely if you invest in Bitcoin for a very long time you will gain profit because of Bitcoin history and past performances.

Well you should know that profit is never guaranteed in Bitcoin investment even though you hold for a very long time. It's true Bitcoin has done well in the past and recovered every dip but it's still not a guarantee because in future no one knows what will happen. When profit making is your sole purpose of investing then you're investing with a wrong mindset. Profit is one of the extra benefits of investment but shouldn't be the reason you are investing.

I believe that what is guarantee in this life we are is dealt nothing else is guarantee making profits or even successful in bitcoin investment is not even guarantee even though we hodl for long but we only hope if been successful in bitcoin long term investment but no guarantee due to it volatility, this is also one reason we are expected to invest with our discretionary income which is money we won't be needing in a long time incase our investment went in a way we didn't expect there won't be any cos to panic.

Many people think that Bitcoin or any investment is a surefire way to make money, but the reality is that nothing is 100% sure, not just Bitcoin, but any type of investment. It is true that if we can hold Bitcoin for the long term, there may be a possibility of getting good results in the long term, but still the market will always be uncertain and we have to accept that and invest. If we are not mentally prepared for these issues, then there is more risk.

I think what we should be asking is whether the investment is worth the risk and not if profit is guaranteed. There's no certainty in any investment including Bitcoin. Consistency, proper risk management, keeping emotions in checks when the market is volatile are the things that make one successful and not predicting profits or the market.

[Nheer]

I agree. A beginner doesn’t need to master self custody before buying Bitcoin. The important thing is to start learning while accumulating.

A simple solution is for him or her  to begin small on a trusted exchange, then over time move into self custody as his knowledge and holdings grow. That way, he avoids delaying his investment while still improving his security over time.

Aren't you neglecting basic knowledge? It may not take much time to acquire basic knowledge about self-custody wallets and acquire basic management skills. Even if you are a person of average intelligence, it may take you only a few hours to acquire general knowledge about wallets. Managing a self-custody wallet is relatively easier than managing an exchange. Especially before starting to invest, acquiring knowledge and skills on how to store Bitcoin in a self-custody wallet is part of the basic knowledge that is important to acquire.

You should not delay investing, but you should not be so hasty that you jump into investing without knowing the strategy to store your purchased Bitcoin safely. I would say, never delay acquiring the most important basic knowledge. If you delay investing for a few hours, you may only be delaying the investment, but you are putting your funds at risk by not learning about self-custody wallets. Don't be lazy and acquire the necessary knowledge quickly. We shouldn't be in too much of a hurry to start investing.

It's not neglecting, but when basic knowledge wants to cause delay in investing then it will have to be skipped for a while because nothing should stop you from investing as long as you have discretionary income available.
I think you need to understand that basic knowledge is important but nothing is as important as buying Bitcoin so no matter what it is once you have discretionary income available you have to hold whatever it is and invest. Don't stop investing because you want to learn about self custody and wallet security. It's not necessary, you can always start by storing you bitcoins in an exchange until you are able to understand everything about wallet, it's even more convenient for beginners at first but they shouldn't store Bitcoin in exchange for a long time. Learning can always be done alongside investing.

[Lembo69]

Being so profit minded as a new investor have the tendency of turning you into a trader. Coming into bitcoin investment as a long term investor your major concern should be on how you can accumulate a decent amount of bitcoin to build a strong portfolio and reach your accumulation target or perhaps over accumulation and hold for long term goal. For sure, there’s a potential of generating profit in bitcoin but then this profit making mindset is what have really contributed to most investors not being able to reach their long term investment goal because they want to maximize profit at any given time leading them to become traders of bitcoin and not really investors of bitcoin.

Yes, I agree with you. For a new investor to worry about making extra profits is to gradually become a trader. However, I would like to say that a new investor should continuously invest in order to increase his Bitcoin portfolio and try to accumulate as much as possible.

I agree with your statement that the profit-oriented mindset is actually the cause of loss for many investors. Because those who only think about making profits, they develop a mentality to sell when the market is a little higher. But a real investor always thinks about how he can buy more and increase his Bitcoin portfolio.

There are some people who think that they are investing, but they continue to call their Bitcoin trading as investing. But they may not know that the main basis of real investment is to accumulate wealth and savings in the long term, not just short-term trading.

I would like to say that to build the right investment, it is better to invest in Bitcoin from your other sources of income. Bitcoin investment discipline is created when you realize that your plan is more important than your emotions. And that's when you should focus on your portfolio.

A true investor always enters the market with a long-term plan. He invests with money that he will not need in the next 4-10 years. So he does not focus on making immediate profits, but rather on increasing his wealth in the future. And this is the right foundation for building a disciplined portfolio.

[whiteblue]

I think what we should be asking is whether the investment is worth the risk and not if profit is guaranteed. There's no certainty in any investment including Bitcoin. Consistency, proper risk management, keeping emotions in checks when the market is volatile are the things that make one successful and not predicting profits or the market.

If we've invested, we already understand the risks. The important thing is to have a strong mentality, because market conditions won't always be the same. There could be a severe downturn, but that shouldn't worry us because the downturn is an opportunity to Buy at a low price.

There's no guarantee of getting rich, but we believe Bitcoin will offer better advantages than other assets. There are only 21 million Bitcoin coins. If all of them were in circulation and some Bitcoins were lost due to death or inaccessibility, scarcity would automatically occur.

We simply need to focus on buying and holding for the long term. Every investment has its trials and challenges, So our goal is a long-term investment Mindset and program.

[Hardyrobust]

You need to ensure your bill for the current cycle is covered. At least small buffer is necessary but most importantly, stable income is a must.

Many times we think about monthly cycles in terms of bills, yet surely folks might have their income and/or bills coming in different frequencies.

There is also no need to establish a "stable income" prior to getting started buying bitcoin as long as a person is able to determine that they have discretionary funds available.

There could be issues about continuing to invest in bitcoin for some folks who have unstable income and unstable expenses, yet each time that they are considering whether or not to buy some bitcoin, the main consideration remains the extent to which they then have an amount of discretionary funds that they consider sufficient to buy some more bitcoin, whether that is $100, $10 or some other amount that they consider to be reasonable within their own determinations.

It’s very surprising that some people still have this mindset of thinking you need to have a stable income before investing in Bitcoin. And with the economy of some countries, some individuals find it difficult to have a stable income, but he assume everyone has to wait until they get stable income before they can invest in Bitcoin.

Moreover, having a stable income is not a must, as long as you have a discretionary income from what you earn whether weekly or monthly, you can invest in Bitcoin. The most important thing is having discretionary income, with any amount of your choice, and you can figure out your emergency funds later.

A stable source of income shouldn't be the reason for anyone that has discretionary income not to start accumlating bitcoin with the idea of trying to stablisr there income before they can start accumulating bitcoin. As long as they have been able to figure out there discretionary income then they can start buying bitcoin using there discretionary income . They can still stabilise there income while still ongoing with there bitcoin investment . But , waiting and delaying to invest in bitcoin because of this is very wrong.