JJG’s Outline of Bitcoin Investment Ideas

[Princess Leah]

I don't see much difference, they are both not holders yet so they are birds of the same feathers missing out on opportunities. This should be enough reason to know that learning to understand everything before investing is totally pointless, yes knowledge is good and useful but delaying investing is wrong and it makes the whole idea of learning first wrong.

Nothing is as valuable as owning a Bitcoin, even the knowledge you seek is useless without owning a Bitcoin so what's the point. Investing should always be top priority for every new investor since you can learn anytime you want.

That's true, what's the need of having knowledge when it's not being useful, instead of missing out on opportunities and end up being in the same category as someone without any knowledge it's better to put the little knowledge to good use by investing as well as gaining more knowledge on the process, before such person would  learn more to an extent, something fair enough would been in the person's wallet, which is better than having no Bitcoin but procrastinating.

 Regret is the result of spending time learning without buying cause Bitcoin might have gone higher when the person is finally ready or fully convinced about buying.

[ChocolateBitcoinK]

I personally agree with all you mentioned. All you said is very important aspect of investment. but a lot of people these days overlook it as having a goal is not enough, and one thing about investment is that two people can invest the same amount of money into investments for the same year, count the number of years spend in investment together and still end up with something different.  “different results” just because their decision alone the way are completely different. I also believe that successful investing is all about build what you can stick with, at least you have plans where you are heading to, because opportunities will come and move forward. At times the best advantage for investors is to being able to stay consistent and always avoid bad decisions.

Successful Investment is not about building what you can stick with but rather it is about creating an atmosphere that will be convenient for someone ( sorting out your discretionary income, using an amount that will be convenient and also having an emergency funds). If an investor is unable to sort out their discretionary income then it becomes impossible to be successful because the investment will go wrong because obviously there won't be emergency funds to solve any challenge that will arise.

The foundation of successful investing is creating a financial structure within which it is possible to keep that investment for a long time. If an investor cannot determine his discretionary income correctly. Then the money he is using for investment may actually be needed in the future. As a result, there is pressure to sell that investment in case of a major fall in the market / to meet daily expenses or sudden emergencies. This situation is even riskier in the case of volatile assets like Bitcoin.

Not everyone's financial situation is the same. Someone's emergency fund may be small or may be built up slowly. The investment amount should not be such that it can be used to meet the basic needs of life in a short time. Determining discretionary income, fixing the investment amount accordingly and keeping an emergency fund if possible makes long-term investments sustainable. This means that even if the market is bad, the investor does not have to panic or be forced to sell his portfolio.

[Tonimez]

I personally agree with all you mentioned. All you said is very important aspect of investment. but a lot of people these days overlook it as having a goal is not enough, and one thing about investment is that two people can invest the same amount of money into investments for the same year, count the number of years spend in investment together and still end up with something different.  “different results” just because their decision alone the way are completely different. I also believe that successful investing is all about build what you can stick with, at least you have plans where you are heading to, because opportunities will come and move forward. At times the best advantage for investors is to being able to stay consistent and always avoid bad decisions.

Successful Investment is not about building what you can stick with but rather it is about creating an atmosphere that will be convenient for someone ( sorting out your discretionary income, using an amount that will be convenient and also having an emergency funds). If an investor is unable to sort out their discretionary income then it becomes impossible to be successful because the investment will go wrong because obviously there won't be emergency funds to solve any challenge that will arise.

The foundation of successful investing is creating a financial structure within which it is possible to keep that investment for a long time. If an investor cannot determine his discretionary income correctly. Then the money he is using for investment may actually be needed in the future. As a result, there is pressure to sell that investment in case of a major fall in the market / to meet daily expenses or sudden emergencies. This situation is even riskier in the case of volatile assets like Bitcoin.

Not everyone's financial situation is the same. Someone's emergency fund may be small or may be built up slowly. The investment amount should not be such that it can be used to meet the basic needs of life in a short time. Determining discretionary income, fixing the investment amount accordingly and keeping an emergency fund if possible makes long-term investments sustainable. This means that even if the market is bad, the investor does not have to panic or be forced to sell his portfolio.

Yeah, proper planning is usually very important in maintaining a sustainable portfolio in bitcoin investment. A good bitcoin investor would have planned for emergencies or at least figured the amount to be adding to his emergency funds simultaneously as he goes in his bitcoin investment. There's no point starting bitcoin investment without planning how to safeguard it from panic selling and effect of financial crisis. I agree with you that everyone's financial capacity is not the same and everyone has to plan accordingly.

Just as everyone's financial capacity is not the same and discretionary income varies too, same way someone's emergency funds varies from one person to another and it's the same as saying that the rich investors have larger emergency funds than the poor just like they have larger investments in bitcoin. There's no no figure for both your bitcoin investment by DCA or the appropriate emergency funds to save, it all depends on your financial capacity at all time.

[oll]

Successful Investment is not about building what you can stick with but rather it is about creating an atmosphere that will be convenient for someone ( sorting out your discretionary income, using an amount that will be convenient and also having an emergency funds). If an investor is unable to sort out their discretionary income then it becomes impossible to be successful because the investment will go wrong because obviously there won't be emergency funds to solve any challenge that will arise.

That’s true, but it’s only the initial foundation. After all, we need to go further in this process, because for a potentially good investor, simply allocating a convenient amount isn’t enough. The most important thing is to understand your own psychology and the stage you’re at - I mean, whether you’re in the accumulation phase or the maintenance phase. This is what determines whether you can withstand a 70 % price drop. The foundation is precisely discipline and a completely clear plan, and that’s more important than comfort. But without understanding your strategy, even large investments won’t save an investor from panic‑selling at the bottom of the price.

[Showlove01]

Trying to understand everything perfect before starting Bitcoin investment is just a bit different from someone who haven't started learning because both are not holding any Bitcoin. Somehow, someone who haven't started learning can kick start investing why those trying perfect learning that is not necessary and possible are still learning. Just like the science students, learning theories without doing practicals, going to the laboratories will be like going to a strange place, so the best is while the theories are on going the practicals also gets started. In Bitcoin investment, that means getting the basics and then keep learning while on the go accumulating.

These two categories of people you mentioned are only the same because they have not started accumulating yet but there is a huge difference because the folks that want to learn has made a move to start and the process has started already than someone who have not said anything about the investment. Even though it is practically impossible to learn everything about..., the person who want to learn will at least have some knowledge and understanding than someone who don't have a plan and if invest like you said they will be making the greatest mistake because they don't even know the least fundamentals ( basics).

[SmartCharpa]

Yes having multiple streams of income definitely makes it easier to invest in bitcoin but if you’re not able to afford that you can be very careful in your financial management and ensure you have the required backups available and invest only what you can afford to lose. Investing from your discretionary income gives you a certain level of control and flexibility.

Succeeding in bitcoin investment doesn’t just depend on the knowledge of the investor but in the application of that knowledge; what strategies are you practicing, how are you managing your finances, how you are securing your wallet etc.

Having multiple sources of income doesn’t guarantee success in Bitcoin investment. You may have more than one source of income but still find it difficult to manage your finances. Even a guy without a stable income can succeed in Bitcoin, if you know what to invest. You don’t need to invest outside your discretionary income. In some cases, you can just reduce your expenses im order to avoid taking unnecessary risks.

Moreover, having more than one source of income gives you more peace of mind. Since Bitcoin involves risks, even if the market doesn’t no go the way we expect tomorrow, you already know that you didn’t rely on your investment as a source of income. Some people do this, thinking that bitcoin will change their lives, but they all got it wrong.

[Rockstarguy]

Patience and discipline are really important for Bitcoin investing, and knowledge is involved with these things. Because I think patience will also work when you understand why you are waiting, what you are taking a risk on, what money you are investing with. By knowledge, I do not mean complex technology, code, mining or the whole economy. When a new person has discretionary income, he will start without hesitation. In my opinion, knowledge for a new investor means knowing that the price of Bitcoin will fluctuate, understanding that quick profits from Bitcoin are not guaranteed, investing within your means. I think these can be called basic knowledge.

Knowledge is the main thing, and where there is no knowledge, it is impossible to have patience in Bitcoin. Even with the knowledge one has acquired, people still have high expectations of Bitcoin and the patience issue is still there despite the understanding one already has, which makes some people feel like giving up. Knowledge is important; it encourages investors to exercise patience even if they might have some doubts about the market.

The benefit of having knowledge in Bitcoin investment is that it helps investors understand what they are getting into and not just invest blindly in ignorance, tying their luck to make money by all means.

[Son Of Blockchain (SOB)]

Knowledge is the main thing, and where there is no knowledge, it is impossible to have patience in Bitcoin. Even with the knowledge one has acquired, people still have high expectations of Bitcoin and the patience issue is still there despite the understanding one already has, which makes some people feel like giving up. Knowledge is important; it encourages investors to exercise patience even if they might have some doubts about the market.

The benefit of having knowledge in Bitcoin investment is that it helps investors understand what they are getting into and not just invest blindly in ignorance, tying their luck to make money by all means.

That's true, if people don't know that Bitcoin is a long term asset or that they need conviction to achieve long term, I don't think they'll go into it with the idea of having patience, but going for quick profits. That's why having knowledge about it is important although too much time shouldn't be wasted in gaining knowledge before investing.
 If some put their money into something they don't know or understand they'll end up failing. For instance if s student doesn't study but go into an examination to meet questions that the person has to knowledge of, the student would end up failing that examination.

[Rockson1]

Knowledge is the main thing, and where there is no knowledge, it is impossible to have patience in Bitcoin. Even with the knowledge one has acquired, people still have high expectations of Bitcoin and the patience issue is still there despite the understanding one already has, which makes some people feel like giving up. Knowledge is important; it encourages investors to exercise patience even if they might have some doubts about the market.

The benefit of having knowledge in Bitcoin investment is that it helps investors understand what they are getting into and not just invest blindly in ignorance, tying their luck to make money by all means.

I won't rule out the fact about knowledge and how important it is when it comes to Bitcoin investment, but it grows, it doesn't have to acquire once, we have through the process which is a practical hope you understand what i mean, although their are investors that understands how everything work but still panic perhaps because they weren't following the rules and how to invest right, I agree that knowledge is the key to a successful Bitcoin investment journey.

I think at some point make you see reasons why you are investing, at a time of downs, it reminds you that, those are things you see in the market and should not weigh you down, rather it should be an opportunity for you, to increase your portfolio.

[Cleanshit]

I won't rule out the fact about knowledge and how important it is when it comes to Bitcoin investment, but it grows, it doesn't have to acquire once, we have through the process which is a practical hope you understand what i mean, although their are investors that understands how everything work but still panic perhaps because they weren't following the rules and how to invest right, I agree that knowledge is the key to a successful Bitcoin investment journey.

I think at some point make you see reasons why you are investing, at a time of downs, it reminds you that, those are things you see in the market and should not weigh you down, rather it should be an opportunity for you, to increase your portfolio.

Yea knowledge do grows as we continue in the journey but when it comes to Bitcoin knowledge alone is not enough to be a successful bitcoin investor. You can understand Bitcoin so much and still go panicking when market drops. This are where having a clear plan and a proper risk management become important. You can only stay calm if only you know how much you can afford to invest and also why you invested it. This will help to stay calm during a difficult market conditions, as we journey in investing learning also continues.