JJG’s Outline of Bitcoin Investment Ideas

[Sim_card]

Having what it takes is one of the most important things to have when investing in Bitcon. But that’s is not all you need to invest. You will end up investing in wrong way without the knowledge. You might misunderstand Bitcoin as one of those shitcoins or think maybe Bitcoin is an easy way to make quick money. To avoid all this negative thinking, that is why it’s very risky to invest without knowledge.

What kind of knowledge are you talking about because what a brand new investor needs to start his bitcoin investment is just his discretionary income and where to buy his first bitcoin. Once, that has been achieved, he can start his bitcoin investment right away and learn as he go.

Let's stop making it sound as if without having a good knowledge on bitcoin, you wouldn't succeed in your bitcoin investment when you have a long time to buy and accumulate bitcoin and still learn at the same time. Provided you are a long term investor and wouldn't think of selling any part of your bitcoin in your accumulation stage and you're only buying with part of your discretionary income, you wouldn't regret it.

[Silikiem]

Having what it takes is one of the most important things to have when investing in Bitcon. But that’s is not all you need to invest. You will end up investing in wrong way without the knowledge. You might misunderstand Bitcoin as one of those shitcoins or think maybe Bitcoin is an easy way to make quick money. To avoid all this negative thinking, that is why it’s very risky to invest without knowledge.

What kind of knowledge are you talking about because what a brand new investor needs to start his bitcoin investment is just his discretionary income and where to buy his first bitcoin. Once, that has been achieved, he can start his bitcoin investment right away and learn as he go.

Let's stop making it sound as if without having a good knowledge on bitcoin, you wouldn't succeed in your bitcoin investment when you have a long time to buy and accumulate bitcoin and still learn at the same time. Provided you are a long term investor and wouldn't think of selling any part of your bitcoin in your accumulation stage and you're only buying with part of your discretionary income, you wouldn't regret it.

For sure, getting started In bitcoin investment one doesn’t need to have all the bitcoin knowledge before he can proceed to start buying bitcoin and invest as far as his discretionary income is available. But when it comes to the issue of succeeding in your bitcoin investment, i think one’s mentality about bitcoin investment really plays a role if truly he’s going to be a successful investor or not and that’s why we cannot rule out having a sound and clear bitcoin knowledge. There are those who comes to bitcoin investment with the sole aim that they will become rich over night in bitcoin investment, they don’t only invest according to their financial means as a result of getting rich quick they enter the market with money they can’t afford to lose, some even go as far as borrowing to invest with huge sums, that’s also there level of knowledge and understanding of bitcoin and of course we can tell that such investors don’t last long in the game, they’re easily freaked out. But someone with a sound bitcoin knowledge will understand that bitcoin is a long term investment and that it doesn’t guarantee overnight success will  have a more better chance of fulfilling his long term investment success.

[Charcol]

Knowledge and discipline work hand in hand for investor to succeed. If you're investing without knowledge, you're not just gambling, you're wasting your resources and time because you're likely to lose it eventually. Gambling requires knowledge too because you need to understand the options you're choosing.

This knowledge we’re all talking about is the best key to success, I wonder how those that have interest to invest and their lack of knowledge want to succeed in their investment. And this is the reason why a lots of people are facing too much while investing in Bitcoin.

Knowledge is certainly important, but the problem is that we also need to think about how to use knowledge properly. Because just knowing about Bitcoin investment does not make us completely safe if we cannot use it properly. Therefore, if we have knowledge, how to use that knowledge, whether we can maintain the plan during times of stress, and even whether we are investing part of our discretionary income, are also important.

However, a new investor does not have to have complete knowledge. A new investor can start only if he knows a few things: the price of Bitcoin is unstable, profits are not guaranteed, the money for necessary expenses cannot be invested, his coins must be kept safe and he must plan to hold it for the long term. These are very simple things, if he knows these simple things, he can start with a small amount with discretionary income. He can still learn after starting. So although knowledge is important, it does not mean that it has to be complete at the beginning.

[The Founding Titan]

This knowledge we’re all talking about is the best key to success, I wonder how those that have interest to invest and their lack of knowledge want to succeed in their investment. And this is the reason why a lots of people are facing too much while investing in Bitcoin.

Any investor that value their money will not joke when it comes to knowledge about Bitcoin. It’s just like someone going into a dark room without a touch light. You cannot have everything at once from the beginning of your investment, but you should understand the risk that is involve in bitcoin. Unless the person is ready to gamble with their money. Even if they say invest what you can afford to lose, nobody can invest without the knowledge.

Walk into a dark room and your eyesight will adjust to it on its own as much as it can, you may not have had any light with you when you walked in but it's up to you to decide to stay in the dark like that and if that's they decision you are going to make them you don't deserve to even invest in bitcoin.

Most of of people’s thinking that investment is a something that once they’ve capital that’s all, which is why some don’t bother to seek for the knowledge whereby this knowledge is more important than even the capital. Because even though you’ve capital and don’t have the knowledge that you be able to control the investments is nothing.

Having what it takes is one of the most important things to have when investing in Bitcon. But that’s is not all you need to invest. You will end up investing in wrong way without the knowledge. You might misunderstand Bitcoin as one of those shitcoins or think maybe Bitcoin is an easy way to make quick money. To avoid all this negative thinking, that is why it’s very risky to invest without knowledge.

Going into bitcoin completely empty minded isn't going to get anybody anywhere and I find it hard to believe that such people exist, you don't have to know everything but you at least should know that the price of bitcoin isn't fixed, it's always moving because bitcoin is a volatile asset, and sure something like that might make some people think it's a get rich quick scheme but even a simple search with any search engine will correct that mindset.
Starting bitcoin investment without knowing anything about bitcoin at all is wrong but what you need as a baseline to start with isn't all that much.

[GeorgeJohn]

I'm not sure any reasonable investor will say that the knowledge is irrelevant, the argument you will find is that people don't need to have all the knowledge for them to be able to start buying bitcoin,

Knowledge is required to invest in bitcoin, at most a basic knowledge of wallet, anyone who wants to buy bitcoin, is suppose to make a research of bitcoin so that it will be able to know the wallet that will suit to hold its bitcoin....

bitcoin investment is long term which runs into years, decades even, so just because you haven't done your research when you started investing doesn't mean you won't do it ever.

Bitcoin investment is of two different categories..neither you venture into long-term investment or short-term investment, it depends the one you found comfortable to invest... Note, that before you invest you most have a tip of the knowledge, so that you will not invest blindly and regret in future....

Even within your first year of investing you would have already gotten the knowledge you need that goes beyond basic knowledge from which you can work on securing your bitcoin investment in the right wallet and even increase you technically knowledge of bitcoin.

i want you to know that you cannot know everything about bitcoin once, even you though you decide to understand everything before investing, it will be impossible for novice in bitcoin to know it all before investing...

[Muba20]

This knowledge we’re all talking about is the best key to success, I wonder how those that have interest to invest and their lack of knowledge want to succeed in their investment. And this is the reason why a lots of people are facing too much while investing in Bitcoin.

Any investor that value their money will not joke when it comes to knowledge about Bitcoin. It’s just like someone going into a dark room without a touch light. You cannot have everything at once from the beginning of your investment, but you should understand the risk that is involve in bitcoin. Unless the person is ready to gamble with their money. Even if they say invest what you can afford to lose, nobody can invest without the knowledge.

Knowledge is very important in Bitcoin investment, but it is not mandatory at the beginning of the investment. Again, it is not that someone starts without complete knowledge before investing, it becomes a gamble. The most important thing at the beginning of investment is discretionary income and general knowledge. If someone has discretionary income, then he can start with a small amount and at the same time keep learning. In this way, he gets the opportunity to learn with real experience. But trying to gain complete knowledge without starting can be in vain many times. Because you cannot know all the details of Bitcoin just by studying. That is why it is important to start. Then decide with your general knowledge which one might be better for you.

[Princess Leah]

I'm not sure any reasonable investor will say that the knowledge is irrelevant, the argument you will find is that people don't need to have all the knowledge for them to be able to start buying bitcoin, bitcoin investment is long term which runs into years, decades even, so just because you haven't done your research when you started investing doesn't mean you won't do it ever.
Even within your first year of investing you would have already gotten the knowledge you need that goes beyond basic knowledge from which you can work on securing your bitcoin investment in the right wallet and even increase you technically knowledge of bitcoin.

Anyone who thinks knowledge is irrelevant should be ready to fail in the investment cause putting money into what someone doesn't know about is same thing as embracing loss/failure. The knowledge of Bitcoin is very very important for anyone who wish to invest in it but people shouldn't spend too long getting knowledge about it.

 That's because they can start investing while in the process of learning, the basic of Bitcoin investment is enough for anyone to get started so knowledge about it is not an excuse. Well some people are procrastinators, they'll always look for excuses that would prevent them from doing important things.

[Odohu]

I'm not sure any reasonable investor will say that the knowledge is irrelevant, the argument you will find is that people don't need to have all the knowledge for them to be able to start buying bitcoin, bitcoin investment is long term which runs into years, decades even, so just because you haven't done your research when you started investing doesn't mean you won't do it ever.
Even within your first year of investing you would have already gotten the knowledge you need that goes beyond basic knowledge from which you can work on securing your bitcoin investment in the right wallet and even increase you technically knowledge of bitcoin.

Anyone who thinks knowledge is irrelevant should be ready to fail in the investment cause putting money into what someone doesn't know about is same thing as embracing loss/failure. The knowledge of Bitcoin is very very important for anyone who wish to invest in it but people shouldn't spend too long getting knowledge about it.

You are taking this out of context and I will suggest you calm down to avoid contradiction.  No one said knowledge is not important because know is key in every area of life. Just that in Bitcoin investing, you don't wait to learn everything about Bitcoin before you get started,  you won't become a graduate or something like that to get involved but you can get inbolved while still learning, that was you gain practical knowledge and not some theoretical knowledge.  

The moment you heard about Bitcoin, trying to get started with as little as you can afford and then get more insight while already doing the investing so that the knowledge you are gaining will have application that you can appreciate.

[Grease5000]

I'm not sure any reasonable investor will say that the knowledge is irrelevant, the argument you will find is that people don't need to have all the knowledge for them to be able to start buying bitcoin, bitcoin investment is long term which runs into years, decades even, so just because you haven't done your research when you started investing doesn't mean you won't do it ever.
Even within your first year of investing you would have already gotten the knowledge you need that goes beyond basic knowledge from which you can work on securing your bitcoin investment in the right wallet and even increase you technically knowledge of bitcoin.

Anyone who thinks knowledge is irrelevant should be ready to fail in the investment cause putting money into what someone doesn't know about is same thing as embracing loss/failure. The knowledge of Bitcoin is very very important for anyone who wish to invest in it but people shouldn't spend too long getting knowledge about it.

You are taking this out of context and I will suggest you calm down to avoid contradiction.  No one said knowledge is not important because know is key in every area of life. Just that in Bitcoin investing, you don't wait to learn everything about Bitcoin before you get started,  you won't become a graduate or something like that to get involved but you can get inbolved while still learning, that was you gain practical knowledge and not some theoretical knowledge.  

The moment you heard about Bitcoin, trying to get started with as little as you can afford and then get more insight while already doing the investing so that the knowledge you are gaining will have application that you can appreciate.

I think you are over  reacting to this, no one said knowledge is not important, the fact still remains that some things are better understood through actual experience. For example reading about bitcoin volatility is one thing, but seeing your own small investment drop 20% or 30% can teach you something about your emotions and risk tolerance that information you get from research cannot fully teach.

So for me  I think the right approach is not  to wait until you know everything before starting learn the basics.and start with an amount you can you can leave invested for long without  affecting  your daily needs and continue learning as you go.

[Different patterns]

I don't think you even need to do anything because the way it operates is that you have no choice but to follow, since you won't be successful unless you do. Emotions, in my opinion, are the least important factor. However, when it comes to the market, where prices are declining, this becomes problematic since, even in the market, you have no choice but to wait. And if you want to invest, you need to be disciplined, and that is why you need to do your own research before you start anything, so that you will know what to expect when you eventually start investing.

Researching before kickstarting your accumulation journey is no guarantee that you will be knowledgeable enough about Bitcoin.. And truth be told, there are some aspects of Bitcoin that you can properly be informed about only when you start.. For example, aspect like volatility. You could read online or in forum like this about how Bitcoin dips, but that alone cannot prepare you on how to react during dip... And the same thing applies to the psychological side of investing.. There are some folks that would tell themselves that they will actually remain calm during price dips, but it is when you actually experience this dips and see your own portfolio dropping in value that you can only get to know if that calmness will be there... And that is why practical experience gives more knowledge that just researching alone... Don't get me wrong since I am not against research... My opinion is simply that folks don't need to understand everything before making their first buy, since they can simply start responsibly with the amount they can comfortably afford while learning as you go...

I agree to your point. sometimes people thinking is that they have to understand bitcoin very well before their first steps in bitcoin journey. which is not so, doing some research I know it very important, but that does not give your guarantee to know everything you want to know. There’s certain things that till you experience it yourself before understanding it more. Especially that aspect of reading about volatility online, you can  only read it online, but to understand it more till you put it into practical aspects which is to invest. Is also good to learn the basics to understand what you are getting into. But it not necessarily means you must understand everything before invest in bitcoin.

[cxtreenal]

people’s thinking that investment is a something that once they’ve capital that’s all, which is why some don’t bother to seek for the knowledge whereby this knowledge is more important than even the capital. Because even though you’ve capital and don’t have the knowledge that you be able to control the investments is nothing.

I had brought up the exact point some days ago you have made in a discussion. My point was that if a person wants to be successful in investing, they need to be most patient. Sometimes the biggest strength of an investor is discipline and patience. You need money to start investing thats okay, which means you cannot make a profit with money alone. To make a profit, you need discipline in investing, including fund management.

The most important advice most experienced investors give to beginners is to be patient. Those who are successful in this area of ​​​​patience are the ones who succeed in investing. This is one of the reasons why the number of successful investors is relatively low.

[Moreno233]

I agree to your point. sometimes people thinking is that they have to understand bitcoin very well before their first steps in bitcoin journey. which is not so, doing some research I know it very important, but that does not give your guarantee to know everything you want to know. There’s certain things that till you experience it yourself before understanding it more. Especially that aspect of reading about volatility online, you can  only read it online, but to understand it more till you put it into practical aspects which is to invest. Is also good to learn the basics to understand what you are getting into. But it not necessarily means you must understand everything before invest in bitcoin.

A lot of the comments here are vague and difficult to understand by someone completely new to Bitcoin who may be seeking for a way around it. To make things a little easier, we must distinguish basic knowledge from the knowledge we are discussing here so that anyone whk joins this conversation will know that what is required to get started is basic knowledge such as how  and where to buy Bitcoin and how to make withdrawals. With time they can begin to learn about self custody and other security measures that will enable them protect their investment. As they continue, they will also learn about emergency funds and other forms of measures taken to protect the investment. This pattern will give the new investor direction of his growth trajectory.

[Cgrexp]

I'm not sure any reasonable investor will say that the knowledge is irrelevant, the argument you will find is that people don't need to have all the knowledge for them to be able to start buying bitcoin, bitcoin investment is long term which runs into years, decades even, so just because you haven't done your research when you started investing doesn't mean you won't do it ever.
Even within your first year of investing you would have already gotten the knowledge you need that goes beyond basic knowledge from which you can work on securing your bitcoin investment in the right wallet and even increase you technically knowledge of bitcoin.

Anyone who thinks knowledge is irrelevant should be ready to fail in the investment cause putting money into what someone doesn't know about is same thing as embracing loss/failure. The knowledge of Bitcoin is very very important for anyone who wish to invest in it but people shouldn't spend too long getting knowledge about it.

 That's because they can start investing while in the process of learning, the basic of Bitcoin investment is enough for anyone to get started so knowledge about it is not an excuse. Well some people are procrastinators, they'll always look for excuses that would prevent them from doing important things.

It is not right to consider knowledge irrelevant in investment. If you invest money without knowing anything about an asset, you do not have an idea about the risks. There is also a possibility of making wrong decisions. Before investing in a highly volatile asset like Bitcoin, it is important to have at least a basic understanding of the risks and your financial capabilities. However, waiting to learn more can also be a kind of delay. If someone understands the basics about Bitcoin and is aware of the risks and can invest within their capabilities, then it is possible to start with a small amount and increase both experience and knowledge at the same time. The excuse of acquiring knowledge and investing without acquiring enough knowledge should not be seen as the same. Just as investing in a hurry is wrong, it is also unnecessary to sit for an indefinite period of time waiting to acquire perfect knowledge. The logical thing is to first learn the basics, assess your financial situation and then start on a small scale. Continue the learning process along with investing. Knowledge is not an alternative to investment. Again, it should not be an excuse on the way to starting investment.

[Obulis]

people’s thinking that investment is a something that once they’ve capital that’s all, which is why some don’t bother to seek for the knowledge whereby this knowledge is more important than even the capital. Because even though you’ve capital and don’t have the knowledge that you be able to control the investments is nothing.

I had brought up the exact point some days ago you have made in a discussion. My point was that if a person wants to be successful in investing, they need to be most patient. Sometimes the biggest strength of an investor is discipline and patience. You need money to start investing thats okay, which means you cannot make a profit with money alone. To make a profit, you need discipline in investing, including fund management.

The most important advice most experienced investors give to beginners is to be patient. Those who are successful in this area of ​​​​patience are the ones who succeed in investing. This is one of the reasons why the number of successful investors is relatively low.

Discipline and patience is a big deal and has little or nothing to do with knowledge because that you know doesn't mean you are or will be disciplined and patient. There's need to be specific when talking about investment, in Bitcoin investment, knowledge should not be overrated, it's effects is there but when you say knowledge, what is needed is basic knowledge of Bitcoin for investment to kick start, discipline and patience can then handle the rest, that's more learning that will happen over time in patience and discipline.

[ejikeme24]

I agree to your point. sometimes people thinking is that they have to understand bitcoin very well before their first steps in bitcoin journey. which is not so, doing some research I know it very important, but that does not give your guarantee to know everything you want to know. There’s certain things that till you experience it yourself before understanding it more. Especially that aspect of reading about volatility online, you can  only read it online, but to understand it more till you put it into practical aspects which is to invest. Is also good to learn the basics to understand what you are getting into. But it not necessarily means you must understand everything before invest in bitcoin.

Sure, and this has kept most folks from not getting started with their bitcoin investment for years now. Because they feel that  it's compulsory that they must learn everything about bitcoin before they can venture into investing in it, but that's not true.  even though they try to learn everything about bitcoin still they may not be able to get all the informations about Bitcoin unless they get started, Just as we all have said that knowing the basic things about Bitcoin is the only thing we need to get started and that's exactly how it is then every other thing will be iron out during the process of accumulation.

[Princess Leah]

~~.

You are taking this out of context and I will suggest you calm down to avoid contradiction.  No one said knowledge is not important because know is key in every area of life. Just that in Bitcoin investing, you don't wait to learn everything about Bitcoin before you get started,  you won't become a graduate or something like that to get involved but you can get inbolved while still learning, that was you gain practical knowledge and not some theoretical knowledge.  

The moment you heard about Bitcoin, trying to get started with as little as you can afford and then get more insight while already doing the investing so that the knowledge you are gaining will have application that you can appreciate.

I never said he said so, i replied based on his statement moreover we're on the same page since we talked about "starting the investment and still acquiring knowledge about it". There's nothing contradicting about my statement except if the truth about "embracing lose/failure it hard for people to digest.

 Infact most of the things you said is things I already know of and do advise on it so I don't understand why you think am going out of context cause "we're on same page my dear".

[Saltysugar99]

I agree to your point. sometimes people thinking is that they have to understand bitcoin very well before their first steps in bitcoin journey. which is not so, doing some research I know it very important, but that does not give your guarantee to know everything you want to know. There’s certain things that till you experience it yourself before understanding it more. Especially that aspect of reading about volatility online, you can  only read it online, but to understand it more till you put it into practical aspects which is to invest. Is also good to learn the basics to understand what you are getting into. But it not necessarily means you must understand everything before invest in bitcoin.

Sure, and this has kept most folks from not getting started with their bitcoin investment for years now. Because they feel that  it's compulsory that they must learn everything about bitcoin before they can venture into investing in it, but that's not true.  even though they try to learn everything about bitcoin still they may not be able to get all the informations about Bitcoin unless they get started, Just as we all have said that knowing the basic things about Bitcoin is the only thing we need to get started and that's exactly how it is then every other thing will be iron out during the process of accumulation.

I agree with you. You don't need much knowledge before investing in bitcoin. Gaining more knowledge will waste unnecessary time. And you should start investing with an idea of ​​how much knowledge you need to invest in bitcoin. And with time, your bitcoin holding will grow and along with it, your knowledge will also increase . Suppose a person knows very little about Bitcoin, but he is interested and has a $50 discretionary fund that he makes it regularly by his income . Then he can start investing with $10 or $20 regularly. On the other person who  newcomer, without understanding anything, uses his entire $5,000 savings to buy Bitcoin at once. Then it is risky for him. Because the position size does not match the depth of his knowledge. The point is that his understanding of bitcoin investment is less than his financial capacity. So knowing everything about Bitcoin before investing can never be a requirement for investment, knowing this is part is also a basic knowledge that helps an investor start investing quickly.

[ZeroVinsonN]

~~.

You are taking this out of context and I will suggest you calm down to avoid contradiction.  No one said knowledge is not important because know is key in every area of life. Just that in Bitcoin investing, you don't wait to learn everything about Bitcoin before you get started,  you won't become a graduate or something like that to get involved but you can get inbolved while still learning, that was you gain practical knowledge and not some theoretical knowledge.  

The moment you heard about Bitcoin, trying to get started with as little as you can afford and then get more insight while already doing the investing so that the knowledge you are gaining will have application that you can appreciate.

I never said he said so, i replied based on his statement moreover we're on the same page since we talked about "starting the investment and still acquiring knowledge about it". There's nothing contradicting about my statement except if the truth about "embracing lose/failure it hard for people to digest.

 Infact most of the things you said is things I already know of and do advise on it so I don't understand why you think am going out of context cause "we're on same page my dear".

It's really simple, a newbie wants to start buying bitcoin, their intention is long term and they have their discretionary income available, they also have a wallet though they do not know about custodial and non custodial wallets meaning that their wallet can be either one. As far as I'm concerned they can start buying bitcoin, it's volatility is obvious for all to see so all a person who wants to invest needs to do is figure out their discretionary income and start buying bitcoin with it, if they don't have any emergency fund in place then they can invest in bitcoin and save up their emergency fund together from their discretionary income.
The investment is long term so there is no rush, if aggressiveness can not be handled then go slow, it definitely isn't a race against anyone but should instead be within what the discretionary income can allow.

[Rabata]

I'm not sure any reasonable investor will say that the knowledge is irrelevant, the argument you will find is that people don't need to have all the knowledge for them to be able to start buying bitcoin,

Knowledge is required to invest in bitcoin, at most a basic knowledge of wallet, anyone who wants to buy bitcoin, is suppose to make a research of bitcoin so that it will be able to know the wallet that will suit to hold its bitcoin....

Knowing about wallets is definitely important. But there is no mandatory requirement for a newbie to know about wallets at the beginning. If you make a complete newbie condition to have basic knowledge about wallets at the beginning, he may face a frustrating situation. Because you may be forcing him to learn something at the beginning that he is not mentally ready for. If someone does not know about wallets at the beginning, he can start from the exchange. There is nothing wrong with starting from the exchange, the problem is to plan to keep the assets on the exchange in the long term. Saving on the exchange at the beginning and keeping the learning process going at the same time is a step. But ultimately, our ultimate destination should be self-custody.

[Joeboy]

~snip~

A lot of the comments here are vague and difficult to understand by someone completely new to Bitcoin who may be seeking for a way around it. To make things a little easier, we must distinguish basic knowledge from the knowledge we are discussing here so that anyone whk joins this conversation will know that what is required to get started is basic knowledge such as how  and where to buy Bitcoin and how to make withdrawals. With time they can begin to learn about self custody and other security measures that will enable them protect their investment. As they continue, they will also learn about emergency funds and other forms of measures taken to protect the investment. This pattern will give the new investor direction of his growth trajectory.

Why should newbies be learning about how to making withdrawals before kickstarting their accumulation journey. Various folks come here to learn, so it wouldn't be nice when you try to complicate the requirements for investment, whereas making withdrawals is less important as far as basic knowledge is concerned.. FYI, once folks have known where to buy and they have their discretionary income handy, then I don't see why they cannot just get started already.. And since Bitcoin investment is a long termed, there is literally enough time for investor to gradually learn while they are in the process of their investments... Infact, learning and investing as the same time make the whole learning process more easier, since you are physically experiencing what you are learning, you could call it --Empirical Learning...