JJG’s Outline of Bitcoin Investment Ideas

[sotelorene]

The idea of someone has to finish building some cash aside, before starting buying bitcoin, it seen to me as totally waste of opportunities, because both the cash and bitcoin position can be built at the same time without you hoping for one to finish before starting another one. The must important point here is to start accumulating your bitcoin investment no matter what, in gradually and consistently process. As a serious investor who truly believe in long term bitcoin investment, don’t have to delay their starting of bitcoin accumulation, even if they don’t have enough money, they can small and be consistent with it until they build a meaningful bitcoin position.

I don't understand what you meant by " has to finish building cash aside" but if I get what you saying correctly I think it is impossible for someone to have all the money needed for them to kick start their investment because investment money  or funds can not be gather all and waiting to do this will or may take the folk the whole life time and yet they won't still be able to gather it. So, what is reasonable is figuring your discretionary and work with it and don't look at how small but Instead focus on consistency.

[GiftedMAN]

What's the essence of someone forcing himself to invest when he cannot hold strong or take proper care of his or her basic needs?
In such a scenario it will only be but a matter of time before he sell of his investment and use the money to take care of his basic needs that was initially ignored, so I totally agree with you on this that it's very necessary to first take care of all your basic needs first before thinking of investing what is left, which is the available discretionary income.

Any investment made outside our discretionary income will never end well because it's an act of gambling with money meant for other basic needs.

Let's not argue blindly when it comes to investment because it is not something you start today and expect to make profit tomorrow. It what you have is what you need for your basic needs it is not right to rush into using it for investments because you will be forced to sell it off to use it for your needs when you have no options left. Every Bitcoin investor should adhere to this basic rules of investing in Bitcoin which says you should invest with your discretionary income. By investing with the amount you should use for your basic needs you put yourself in a very bad situation such that you no longer see your investment as a future terms rather you place it as your sustainer because you need fast profit from it which if it doesn't come you will be forced to sell at lost since you can't stay without taking care of the basic needs.

If you do not have a job where you earn salary, you do not have a business that gives you money daily, weekly or monthly, if all you are depending on is the profit you are expecting from the investment you made then it's going to be difficult to be successful in your investment, if there is no backup funds it is also difficult so it is better to focus on getting it right before going into investments cause anything aside your discretionary income will be frustrating and you won't find it easy.

[Abbatty]

The idea of someone has to finish building some cash aside, before starting buying bitcoin, it seen to me as totally waste of opportunities, because both the cash and bitcoin position can be built at the same time without you hoping for one to finish before starting another one. The must important point here is to start accumulating your bitcoin investment no matter what, in gradually and consistently process. As a serious investor who truly believe in long term bitcoin investment, don’t have to delay their starting of bitcoin accumulation, even if they don’t have enough money, they can small and be consistent with it until they build a meaningful bitcoin position.

I don't understand what you meant by " has to finish building cash aside" but if I get what you saying correctly I think it is impossible for someone to have all the money needed for them to kick start their investment because investment money  or funds can not be gather all and waiting to do this will or may take the folk the whole life time and yet they won't still be able to gather it. So, what is reasonable is figuring your discretionary and work with it and don't look at how small but Instead focus on consistency.

I agree with you, you can’t possible finish building cash aside for investment. Investing is a continuous process which requires you buying in a time space you are comfortable with. For someone who is using the DCA strategy this is impossible. On a second thought why would you even want to finish building funds set aside for investment, isn’t that saving. It just another reason or way to delay starting your investment journey to me.

Get a certain discretionary income, start your bitcoin journey and stop complicating things like you want to finish building hour investment funds before going into bitcoin investment. When it comes to bitcoin investment, it never to be delayed so long you have your discretionary income at your disposal.

[Rockson1]

The idea of someone has to finish building some cash aside, before starting buying bitcoin, it seen to me as totally waste of opportunities, because both the cash and bitcoin position can be built at the same time without you hoping for one to finish before starting another one. The must important point here is to start accumulating your bitcoin investment no matter what, in gradually and consistently process. As a serious investor who truly believe in long term bitcoin investment, don’t have to delay their starting of bitcoin accumulation, even if they don’t have enough money, they can small and be consistent with it until they build a meaningful bitcoin position.

What is expected of an interested investor to invest in Bitcoin is their discreationary income, as soon as this fund is available, it will be unnecessary to waste further time doing something that might not favour you later, nothing stops anyone to invest they little they have, pilling up funds to invest later might not be a good idea because one might be tempted to make use of the funds and maybe think that he will replace it later which will never happen and that might cause them not to invest, so I'm of the opinion that, potential investors should invest the amount they wish to save up steadily, I understand that it might seem to them like a nice aproach save, but it might be the end of game for them if anything goes wrong, Bitcoin investment can be carried out with any amount, so what is the need to save up before investing.

[Sobz]

I'm always of the opinion that people should know the risks involved in whatever investment endeavour they are going into and bitcoin isn't excluded because, let's face it, there is risk involved and even though bitcoin has never failed to impress over the years that it has been around there is still no guarantee that it won't fail tomorrow so anyone investing in bitcoin should do so while knowing that their success isn't guaranteed, invest from your discretionary income but more importantly invest with money you can afford to lose, I'm not saying you will lose it, I'm just saying that there is a possibility of it happening.

If people will have that patience to understand the risk in bitcoin and making a good investment plan, it will be a good towards bitcoin investment but not everyone will learn how to invest in bitcoin from the beginning,  some people will rush into and have a terrible experience but this experience will be used as a mistake to learn from, but as for those who cant go through this experience it is better to learning very serious than to rush into bitcoin to invest. Risk management is an important aspect in investment to understand,  because it prevents one from losing money unnecessarily.

[JayJuanGee]

It’s very important to invest within our means, considering that we have some amount of money as a discretionary income it’s better to invest that money immediately instead of waiting for something else like having a huge amount of money before you can get started, while you can start buying bitcoin as small as your discretionary income, exceeding our discretionary income is a wrong move which is why is very ugly not to start investing within our means instead of waiting for a dip or waiting to have huge amounts before an individual can get started with investing in bitcoin.

We don't need a huge amount of money to be able to invest in Bitcoin rather what we need is our discrestionary income. One can have a huge amount of money but won't be able to figure or sort out their discretionary income at that point that huge amount of money will be of no use in Bitcoin investment. Sometimes the reason why some people also wait for huge amount of money before starting their Bitcoin investment is because they lack knowledge. That is why basic knowledge about Bitcoin is very important.

Basic knowledge is a vague term.

To start bitcoin investing, all a person needs is discretionary funds.

It’s very important to invest within our means, considering that we have some amount of money as a discretionary income it’s better to invest that money immediately instead of waiting for something else like having a huge amount of money before you can get started, while you can start buying bitcoin as small as your discretionary income, exceeding our discretionary income is a wrong move which is why is very ugly not to start investing within our means instead of waiting for a dip or waiting to have huge amounts before an individual can get started with investing in bitcoin.

We don't need a huge amount of money to be able to invest in Bitcoin rather what we need is our discrestionary income. One can have a huge amount of money but won't be able to figure or sort out their discretionary income at that point that huge amount of money will be of no use in Bitcoin investment. Sometimes the reason why some people also wait for huge amount of money before starting their Bitcoin investment is because they lack knowledge. That is why basic knowledge about Bitcoin is very important.

You are right that we do not need a lot of money for Bitcoin. What we need is basic knowledge about Bitcoin and discretionary income.

All that is needed to get started is discretionary funds.  Do not add extra requirements that are not needed, especially vague requirements. You are not helping.

Whatever the amount of discretionary income, whatever the price in the market, keep ongoing with Bitcoin. The available funds are important for you but if you do not apply this fund properly, it will not be of any use to you in reality.

Are you referring to a need for common sense?  Sure, guys should have common sense, yet we should be able to largely presume that an overwhelming majority (perhaps in the ballpark of 97% of normal people?) have common sense, even though they might need to practice using it.

The value of this fund will keep decreasing due to the effect of inflation. Along with regular Bitcoin accumulation you can use the available funds in the form of lump sum to buy Bitcoin at your convenient time or during the price decline.

You are using the word "lump sum" when you are describing buying the dip.

sure there are three forms of buying that include DCA, lump sum and buying the dip, and only buying the dip requires waiting.  Lump sum does not require waiting, yet it does have a presumption that a lot of funds are available.  Not everyone has lump sum amounts available, but instead they figure out how much discretionary funds they have after they have accounted for their expenses in order to decide how much money they have available for 1) investing, 2) savings and/or 3) discretionary consumption.

Do not underestimate the importance of acquiring basic knowledge of Bitcoin because the foundation of long term investment is strengthened through this basic knowledge.

You sound like you are making shit up.  there is no requirement for basic knowledge in order to get started buying bitcoin, so long as a person has discretionary funds, then he can decide whether and/or how much bitcoin he is going to start to buy and he uses his judgement to determine how much he wants to start with.  So for example, maybe he calculates and realizes that every week for the next 6 months (26 weeks) he is going to have $100 per week that he could buy bitcoin, yet his judgement (and common sense) tells him that he probably should start with a smaller amount until he figures out what bitcoin is, so instead of starting with $100 per week, he decides to start with $30 per week until he learns a bit more about bitcoin and perhaps subsequently will decide to increase his weekly bitcoin buy amount.

[edited out]

If someone has a goal of acquiring a certain amount of Bitcoin, they will likely need to be realistic about how much they will need to invest over the period of time they hope to accumulate it. They will also need to consider how the price of Bitcoin may change over that period. It is more realistic for someone who is currently investing $100 to $200 per week to consider the possibility of receiving 1 Bitcoin in 10 years than for someone who is investing $10 to $30 per week in Bitcoin. Individuals can consider their current income situation and future income expectations when they make their calculations and consider how realistic their goals are based on possibilities or fantasies. Those who create imaginary expectations are probably doing themselves more harm than anyone else. Sometimes when they express their fantasies to others, others may not be ready, willing, and able to make realistic calculations. A young person may estimate different levels of their current income as well as the possibility of promotion. Changes in family circumstances can affect expenses, and even entering a business may involve a lot of expenses but may also have an expected income. When there are so many possibilities to consider, human assumptions can sometimes be wrong. But just because there are so many possibilities doesn't mean it's not productive to label some assumptions as more or less likely. In this case, one should try to identify the more likely scenarios before including the less likely ones.

It is difficult to presume anyone who is buying less than $400 per week in bitcoin would be able to accumulate 1 BTC in 10 years.

A person who accumulates $400 per week would have had invested $20,800 per year and $208k after 10 years. It would be difficult to imagine BTC prices averaging less than $208k after 10 years, so a person starting out investing into bitcoin at $400 per week may well have had only accumulated around 0.5 BTC after 10 years of accumulting bitcoin at that rate.

[edited out]

For sure basic knowledge is important for new Bitcoin investors, you cannot enter blindly into something that you know nothing about, I agree that guys who have the interest to invest in Bitcoin but don't know that they can buy in units would be discouraged if they cannot afford to buy 1 Bitcoin. Without asking or doing research about it they would remain in ignorance without knowing that they can afford to start with a small amount and do DCA to accumulate according to their discretionary funds.

Basic knowledge is what is required to get started in Bitcoin investment, you don't have to gain extensive knowledge about the market and network before starting. I believe that Bitcoin is the best asset that anybody can hold, it is decentralized, no paperwork and you don't have to be rich, it is accommodating to anybody that can afford discretionary funds no matter your class in the society.

Your assertion that "basic knowledge" is required to start investing into bitcoin is  vague and wrong.

All that a guy needs to get started investing into bitcoin is discretionary funds.

An easy one to forget is that the time horizon of an investment is related to the purpose of the investment and not just to the number of years. If the person has no idea when he's going to withdraw his Bitcoin, and he's building up for capital appreciation. He's obviously taking a different risk than the person who's saving for a goal three years out. If they both purchase routinely. They may have varying tolerances for a significant drop in the price. That is why it is deceptive to label all those who hold the positions for less than a day or week as traders. The trader is typically looking to make money from the movement of the market. And the person who is saving money for a specific purchase is just trying to have money in the bank for a definite spending in the future. If people are aware that difference is a factor they can consider investing a suitable amount of Bitcoin, and not just following a four years or more guideline.

In this thread we talk about 4 years or more to be the minimum bitcoin investment timeline. If a person has a timeline for buying bitcoin that is less than 4 years, then he is likely trading rather than investing.

[edited out]

Proper research and understanding are the key differences between an ordinary investor and a disciplined investor. Investing without proper research is basically gambling. When the market is very volatile, proper knowledge protects the investor from unnecessary fear or excessive greed. Even if technological changes occur, research keeps you prepared in advance to deal with potential risks.

In this thread, we frequently talk about getting started buying bitcoin as soon as possible, once discretionary funds are determined.  There does not seem to be any justification to delay getting started buying bitcoin based on desires to "research," since "proper research" can be done while a person is ongoingly buying bitcoin, whether such bitcoin purchases are weekly or on some other relatively frequent timeline.

What you're saying is part of a strategy that every investor should follow if their income is stable, because almost everyone has realized that long-term investing can be difficult without a stable income. Even if there's a little self-compulsion to create reserves and emergency funds, the difficulty immediately arises when there's no remaining funds to invest, even a small amount. So, I think almost everyone has realized this by now, because becoming a long-term investor is clearly not easy, even if there are simple ways or methods.

I don't think  someone needs a stable  income before he can start accumulating bitcoin, it's no lie that stable income helps. But  in real life what matters most is one ability to be able to figure out his discretionary income  no matter how low his income is and using  the DCA strategy  to accumulate bitcoin the key is not the size or frequency of the investment, but avoiding money needed for food, rent, bills, debt payments, or emergencies.

Not only in the field of investment, but also in the field of living a good life, to maintain everything well, one must first understand one's income well and plan accordingly. Now if a person earns a good amount of money at the end of the month and if he does not have a proper plan, then due to random spending of money, he will get into trouble at the end of the month and far from investing, he will have to take out a loan at the end of the month. On the other hand, if a person's income is comparatively low but if his maintenance is proper and the plan is proper, then he will be able to meet his needs well with a proper plan with a small amount of money and if he plans well from a small amount of money, then he will be able to continue investing consistently.

I think proper planning for investment and the desire to invest play an important role in investment. Now if I have such an insistence in my mind that I have to invest in any way, then nothing can stop me, but I will do whatever is necessary to invest.

Beginner bitcoiners do not have to have any kind of strong plan or organization before getting started investing into bitcoin.  They can work on organizing their finances, improving their various plans and various other financially related goals that they have as they are buying into bitcoin and as they are buttressing their back up funds and/or other aspects of strengthening their cashflow management practices/systems.  The main thing that they need to get started is discretionary funds, and surely if they exercise good judgement then they would adjust their starting out position size in such a way that is slow and that they can learn as they go...and perhaps even become more aggressive in their bitcoin buying as they become more comfortable and learn/improve various aspects of their 9 individual factors.

[cyberninja2]

---

I don't understand what you meant by " has to finish building cash aside" but if I get what you saying correctly I think it is impossible for someone to have all the money needed for them to kick start their investment because investment money  or funds can not be gather all and waiting to do this will or may take the folk the whole life time and yet they won't still be able to gather it. So, what is reasonable is figuring your discretionary and work with it and don't look at how small but Instead focus on consistency.

What we need to understand is that if we do as mentioned, time will certainly be an issue, especially when waiting to accumulate money first, because waiting will certainly take time to accumulate the money we want to achieve.

I don't think there's any need to wait to do it, especially if you have the intention. Doing it simultaneously will be easier, regardless of the amount. Waiting isn't the right idea when investing, but Anfa's answer is very appropriate: what's needed is a consistent attitude in protecting your investment once you've made it.

[Charcol]

[edited out]

I'm saying that people shouldn't think that being able to save up to 6 months worth of emergency fund is easy, it will take time, rather than shot that high you can go for 3 months and then still make sure to keep your reserve fund in place.
Unless you are saying that 3 months worth of emergency fund isn't enough for an investor and they should save more, that is also the investor's choice but it's not just about talking about saving uo to 6 months but rather about being able to actually pull it off.

Guys have to figure out their focus, yet if they are seriously accumulating bitcoin, it seems a bit of overkill to believe that it is necessary to have much more than 3 months of back up funds, except in cases in which income and/or expenses are quite uncertain and likely to cause needs to tap into such back up funds.

If an uncertain income ends up leading to an uncertain discretionary then they wouldn't even be able to afford an emergency fund in the first place.
I just feel like it someone has the discretionary income and want to save up that much emergency fund then it's their choice but there is nothing mandating anyone to save up to 6 months worth of emergency fund, 3 months will serve and if they actually lose their source of income the they can move to reduce their expenses and by doing that they can then extend their 3 months worth of emergency fund to even past that 3 months as well.
Also if someone has a rough idea that they might need more emergency fund in the near future then they can also save up more, they should just make sure to not ignore their investment in the process.

An emergency fund is certainly important. But the real question is not whether an emergency fund should be 3 months or 6 months to start with. There is no mandatory requirement to have an emergency fund at the beginning. In reality, everyone's finances are not the same. For some, it may be easy to create a 6-month emergency fund. For others, it may take a year or more to create a 3-month emergency fund. Therefore, if someone does not have an emergency fund at the beginning of investing, it is not always realistic to give advice like "he should have 3 months of emergency funds at the beginning instead of 6 months". Rather, if he really has discretionary income, he can start investing and create an emergency fund at the same time. In this, he does not have to wait until he creates an emergency fund.

[Finebone]

If you do not have a job where you earn salary, you do not have a business that gives you money daily, weekly or monthly, if all you are depending on is the profit you are expecting from the investment you made then it's going to be difficult to be successful in your investment

In this type of state, you have no business investing in Bitcoin, but rather you should start looking for a job or something doing that can fetch you a weekly or monthly income, so that you can take care of your basic needs first, then anything that is left is what you can invest with.

, if there is no backup funds it is also difficult so it is better to focus on getting it right before going into investments

You don't have to get it right before you can start your bitcoin accumulation, all you just need is a discretionary income to start with, then along the line, you can learn more on it, and also putting down emergency and reserve funds alongside your Bitcoin investment, so that you would not be forced to sell when you never wanted to, due to emergencies.

[Obulis]

As long as you have been able to take care of your essential expenses, if you happen to have some emergency cushion available to you at that point in time, putting in a small portion of genuine surplus into Bitcoin can let you have some exposure without putting yourself under too much financial pressure.

Just because you have some emergency savings doesn't mean it's safe to buy Bitcoin. Because if your emergency savings are very small, you may need to sell Bitcoin if your income or expenses suddenly stop. Then investment risk and financial-security risk come together. However, there is no rule that prohibits taking Bitcoin exposure until your financial security is 100% perfect. So first decide what is right for you according to your ability. Because what is right for Lil may be risky for X.

On the other hand, if the price of Bitcoin drops by 50% and you don't have to sell Bitcoin to anyone for months or years, will he/she be able to handle their essential living expenses and emergencies? This answer will not be the same for everyone.

Similarly, if the answer is yes, then investing a small portion of your surplus in Bitcoin is quite reasonable. But if the answer is no, then it is more important to strengthen your financial cushion first than to buy Bitcoin.

Look bro, as long as the amount you’re putting in into bitcoin is at a level of risk that you can afford to handle given your overall financial situation, it doesn’t matter whether you have large emergency funds or not before you can buy bitcoin; as long as you have atleast some reasonable amount of emergency buffer available to you, you’re good to go.

An allocation that is modest and comes from a genuine surplus can be very reasonable even if you have a relatively small cash buffer.
Whereas in some cases, putting in a large portion of your wealth into bitcoin may be reckless even when you have a substantial amount of emergency funds.

Why do i need to worry myself with trying to choose between building my financial cushion and investing when I could just do both simultaneously and adjust the proportions as my financial situation continues to improve ?

You need to understand that financial responsibility is not about trying to eliminate every risk before you can start investing, you just gotta make sure that any risk you take will not threaten your ability to meet your essential obligations, simple as that.

It does matter how much back up funds a brand new guy to bitcoin has.  If they have absolutely no back up funds, then they likely have to put some emphasis on making sure that their cash cushion is enough and if they have a large amount of back up funds, then they likely need to figure out ways to put way larger amounts of that into bitcoin, since they may well be overdoing it in regards to how much cash they are keeping while not having any bitcoin.

In bitcoin, it remains important to get started as soon as possible, and yeah, each person will also end up tailoring how they get started in accordance with their own financial and psychological situation and perhaps giving consideration to their 9 factors too.

Having so much back up funds before investing or having back up funds more than accumulated Bitcoin as a brand new guy to Bitcoin can be likened to a brand new guy to Bitcoin who always waiting for that perfect dip before accumulating Bitcoin. Out of personal decision, the percentage of these so much back up funds that needs to injected into Bitcoin will be decided but for me  60/40 or 70/30 will do the job, that's 60 to 70 into Bitcoin and 40 to 30 back up. I believe this reduces it from being over down.
No need wondering the reasons why a new guy to Bitcoin will have more back up funds than Bitcoin because the 9 individual factors actually gave details reasons to that. Of which individual view of Bitcoin investment and personal risk tolerance can be the propagators.

[Ruttoshi]

An emergency fund is certainly important. But the real question is not whether an emergency fund should be 3 months or 6 months to start with. There is no mandatory requirement to have an emergency fund at the beginning. In reality, everyone's finances are not the same. For some, it may be easy to create a 6-month emergency fund. For others, it may take a year or more to create a 3-month emergency fund. Therefore, if someone does not have an emergency fund at the beginning of investing, it is not always realistic to give advice like "he should have 3 months of emergency funds at the beginning instead of 6 months". Rather, if he really has discretionary income, he can start investing and create an emergency fund at the same time. In this, he does not have to wait until he creates an emergency fund.

I think that's better to focus on creating your emergency funds of three months as you have started your bitcoin investment because it might take more than one year to set up an emergency funds of three months of your monthly expenses. So that, you can focus on building and growing your bitcoin stash and put more money there than in your emergency funds when it's already up to three months.

We are investing into bitcoin for the future and for that reason, we must buy as many as we can which should be our concerns and work towards ongoingly accumulation of bitcoin till we reach our bitcoin target. If you want to build an emergency funds of six months, it will delay your bitcoin portfolio growth pace and holding back too much Fiat isn't good because it losses its purchasing power overtime.

[JayJuanGee]

[edited out]

All newbies need before they start buying bitcoin is basic knowledge which includes where to buy bitcoin, how to buy and where to store bitcoin.

Your statement about needing to know where to store bitcoin is misleading, even though you are technically correct that a newbie may well end up deciding where to store bitcoin based on his already existing knowledge about bitcoin or maybe he does not know anything about bitcoin, yet he realizes that when he is starting buying bitcoin, he is going to hold the bitcoin with the exchange (or with the place that he bought the bitcoin) until he is able to figure out some other ways of storing the bitcoin, such as self storage.

At the same time, we might have guys who are in bitcoin for years and years and years, and they never venture out to learn about the various ways to hold and/or transact in bitcoin, even though there is a certain amount of acceptability that beginners might not know about the various bitcoin storage and/or bitcoin transmission options that are available to them.

If someone is able to figure out his discretionary income he don't have to wait until he  have researched and gather all the information about Bitcoin before buying, he can go ahead and start buying while learning more at the same time.

You don't have to know everything before you start. Just understand the basics, start small with money you don't need for your daily expenses, and keep learning as you continue accumulating.

These are all fair statements to assert that knowing that he has discretionary income is the most important starting point to be able to begin to buy bitcoin, and so the guy can learn along the way and also he can also likely determine his starting bitcoin buying side based on both his own assessment of how much discretionary funds that he has available and also based on his assessment of his lack of knowledge about various aspects of bitcoin...so maybe a guy who had assessed his situation to have $100 of extra discretionary funds that are available per week to buy bitcoin, yet he might purposefully choose to start out buying $30 per week of bitcoin during those initial times that he is starting out and still learning about bitcoin and still working on becoming more comfortable with bitcoin and how bitcoin is going to fit into his cashflow management.

You are right to some extent but if someone has gotten the basic knowledge of Bitcoin and have improved on the way they perceived Bitcoin investment before I do not see any need for someone to be doing research unless they have the short term mindset which is to sell very quick when they are in profit and the research is what tells the point or high or low Bitcoin will "likely" get to. Investors can not fail in Bitcoin unless they have unclear decision or if Bitcoin drop down to zero outside this nothing will make them fail or maybe lack for discretionary income.

That is why Bitcoin investment offers advantages not found in other investment models when approached correctly with a long-term strategy, failure is virtually impossible. Some people worry excessively before even starting instead of building the confidence needed to invest, they become paralyzed by the fear of failure. It is precisely this mindset that often prevents people from achieving financial freedom.

If one invests in Bitcoin correctly, incurring a loss is virtually impossible. We know that Bitcoin cycles are a reality the key to success lies in maintaining consistency through a measured approach and the use of the right strategy and if that is done, the investment will certainly proceed as expected.

Get the fuck out of here.

Bitcoin is not guaranteed to be successful, even if guys do everything right.

A lot of times when we discuss strategies to accumulate bitcoin, then to maintain a bitcoin portfolio and then perhaps later how to manage liquidations whether that is carried out through some sustainable withdrawal practices or the depletion of the principle, we are trying to figure out better practices that might be mostly tailored to the individual circumstances, yet there also may well end up being quite a bit of variance in their options, and bitcoiners are not even guaranteed to profit or even to do better than they might have done by investing their time, energy and value in other directions.

Surely, at the same time, historically bitcoin has been quite sympathetic towards guys who had errored on the side of bitcoin accumulation and holding, so there could be some guys who might regret their level of aggressiveness, yet if 4-10 years or longer pass, then there is no abilities to go back and make up for past mistakes - so  in that regard, we may well be trying to figure out how to establish the better of current practices, even though historical bitcoin price performance does not guarantee future bitcoin price performance.

[edited out]

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.

In this thread, we emphasize getting started buying bitcoin as soon as discretionary funds have been determined.  There is no need to overly emphasize researching, preparing or trying to make sure everything is perfect prior to getting started so long as the bitcoin newbie can make sure that he has discretionary funds available, he can get started and research and learn as he goes.  His learning will be much more concrete to couple it with action rather than fucking around for weeks and weeks and perhaps months and months or even longer trying to research and failing/refusing to get started.

And, yeah, the beginner bitcoiner does not need to start out investing into bitcoin with lump sum amounts or even by maximizing out the amount that he puts into bitcoin.  The beginner bitcoiner can start out with some portion of the discretionary funds that he has available, and he can increase the amount that he puts into bitcoin as he later becomes more comfortable in terms of learning about bitcoin and learning more about his cashflow management systems/practices. 

Also discipline and organizational skills can also be learned as he goes, so for example, if a guy looks at his income/expenses and he figures that he has something like $100 per week that he could invest into bitcoin, yet since he is a beginner, he might decide to start out with $30 per week and then to engage in his various research, studying, planning, organizing as he goes in order to become more comfortable with bitcoin.

[edited out]

Research and necessary knowledge can certainly improve an investor's decision. But I cannot accept that starting an investment without doing enough research will turn it into a straight gamble. If someone wants to start, then as a new investor, it is not necessary to know all the technical aspects of Bitcoin, market cycles or future value in detail.

You are still proclaiming that some level of research is necessary prior to getting started investing into bitcoin, which is not true.

Any beginner who figures out that he has discretionary funds can get started buying bitcoin based on whatever knowledge he happens to have or not, and he can figure out how much to start with (adjust his initial bitcoin buying size amount) based on his assessment of what he knows or does not know, and so how much research to do or not will end up being based on his own judgement in regards to whether he believes that he needs to learn more in regards to one topic or another.

In other words, there is no predetermined amount of research that a guy needs to do beyond his current knowledge, except maybe to make sure that he has discretionary funds, and then if he assesses that he has discretionary funds he can get started and he can figure out when and how much research he wants to do as he invests into bitcoin.

Two things are needed to start investing, which are common sense and discretionary income.

Huh?  I agree that only discretionary funds and common sense are needed, yet earlier you were saying that research was needed too.  You seem to be contradicting yourself.  Maybe you should clarify what you mean in regards to the apparent ongoing contradiction within your post?

In the beginning, he just needs to understand that the price of Bitcoin is volatile and there is no guarantee of profit here, so he cannot put money into Bitcoin that is part of its basic cost. To start Bitcoin, discretionary income is definitely needed. The common sense of the new investor will tell him the amount of discretionary income. Later, after starting, he can decide for himself.

There is nothing wrong with this portion of your post, so perhaps my main concern is how come and why you believe that research is needed prior to getting started investing into bitcoin, when each bitcoin newbie should be able to figure out the extent to which he wants or needs to research further prior to getting started or alternatively, he might just adjust his starting position size down to the extent that he believes that investigating more would be helpful for him to start to feel more comfortable about his investment into bitcoin.

Proper research and understanding are the key differences between an ordinary investor and a disciplined investor. Investing without proper research is basically gambling. When the market is very volatile, proper knowledge protects the investor from unnecessary fear or excessive greed. Even if technological changes occur, research keeps you prepared in advance to deal with potential risks.

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.

With your knowledge, if you don't have discipline, you may be making wrong decisions at the wrong time. Likewise, if you're discipline but you lack knowledge, you may be doing the wrong practice consistently due to lack of knowledge. Discipline is what makes you to act based on your knowledge. It's like the rules you play by otherwise, you end as knowledgeable loser. You need both in the journey of your investment.

Knowledge and discipline are not substitutes for each other. One helps in making the right decision and the other in following the decision consistently. Without knowledge, if a person has discipline, he can follow the rules, but if that rule is wrong, then he will continue to make wrong decisions very systematically.

It seems to me that many times beginners into bitcoin might not need to have discipline and/or knowledge, and they can develop those skills/characteristics as they go.

Accordingly, there can be a bit of a blind aspect in regards to the beginner bitcoiner figuring out how to invest into bitcoin regularly, consistently, persistently, ongoingly and perhaps even aggressively (whether weekly or otherwise), and so he does not necessarily need to have discipline and/or knowledge in order to get started, yet at the same time, both discipline and knowledge tend to be good attributes to develop, even though they are not required to either get started or to continue to invest into bitcoin.

Despite having knowledge, if there is no discipline, he can deviate from the right decision he knows to be right due to market fluctuations, fear or emotions. It is not enough to just know, but also to have the mental control to apply that knowledge correctly at the right time.

To me, there seems to be a certain value in regards to trying to buy bitcoin every week (or whatever basis) and no matter the BTC price - especially in the beginning, perhaps 4-10 years, so then as the bitcoin stack size continues to grow, then perhaps at some point, the stack size might start to inform changes in the bitcoin buying practices. 

Guys can choose whatever they are going to end up doing based on their circumstances, yet it seems to me that if a guy has around $220 per month that he is able to invest into bitcoin, then it may well be better to divide that into $50 per week invested into bitcoin rather than investing once per month, and yeah, guys have to figure out what is comfortable for them, including, perhaps, deploying practices that help to reinforce persistent and consistent bitcoin buying practices that will ongoingly reinforce the buying aspect of their being in their bitcoin accumulation phase.

It is not entirely correct to directly associate investment with gambling. In gambling the results are usually very uncertain. Investing without knowledge can turn into gambling-like behavior.
Therefore  for a successful investor just recognizing good opportunities is not enough. Understanding the risks  investing within your capabilities, following the plan and not breaking the plan emotionally are equally important. In the end, knowledge shows the right path. And discipline helps you stay on that path.

Seems confusing to talk about investing as gambling, unless the person is mixing up investing with trading.. since trading seems to be more closely related to gambling rather than investing.

[edited out]

Research is important, but I don't agree that research alone can  makes someone better prepared on how the market operates. 

 When it comes to accumulating bitcoin having a first hand experience teaches you  things that research cannot fully prepare you for. Someone can read many books about bitcoin and understand volatility very well  and may be convinced they can control their emotions, but when they see their investment going  down their emotional reaction can be completely different from what you expected.

This is why it is better to start accumulating bitcoin early  as soon as you gain the basic knowledge and are able to figure out your discretionary income than waiting to gather all information about Bitcoin before starting which may  result to delay in your quest to accumulate bitcoin, because while proper research and understanding tells you what can happen, experience shows you how you personally react when it happens.

But this doesn't mean someone should invest blindly. You need basic knowledge to understand what you are buying, how to buy it, where to store it, using only discretionary income and the use of DCA or Lump sum strategy depending on which suits your finance. But you don't need to know everything before making your first buy.

I am a bit bothered by your last paragraph, since the important part is that you do not need to know everything before you first buy, yet it is likely a good thing for bitcoin investors to develop their knowledge as they go, yet at the same time, each individual chooses for himself the extent to which he wants or needs to develop further knowledge... so guys are in charge of their own destination in regards to how much they choose to invest into learning and/or even how they choose to manage their bitcoin accumulation practices, whether they choose to be whimpy or aggressive.

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.

Investing definitely requires knowledge, no matter what field you are in, you definitely need knowledge in Bitcoin investment.

You are not only wrong.  You are misleading, since there are so many ways that guys can have knowledge or not, and there are levels of knowledge, so your vague assertion that knowledge is required is way too vague in terms of what kind of knowledge you are talking about.

When a person uses DCA, he likely ONLY needs knowledge to make sure that he is investing from within an amount of discretionary funds that he can afford to lose.  He does not need to necessarily know anything about the asset that he is buying, and he can also choose his position size in accordance with the level of knowledge that he perceives himself to have or not have in regards to the underlying asset.

However, if you can continue to buy normally and move forward into the future, then you can definitely make yourself successful.

Success in bitcoin is not guaranteed, even for guys who might believe that they are doing everything perfectly, which is part of the reason that guys should figure an amount that they are ready, willing and able to put into bitcoin based on its performance not being guaranteed rather than presuming that they are guaranteed a certain level of return.

Otherwise, if you cannot follow the right strategy, you can make yourself a part of gambling.

There may be some truth to what you are saying in the sense that guys could transgress into extreme behaviors, yet even within regular bitcoin investing, there tends to be a considerably wide-range of reasonableness and options, so it is not correct to suggest that there is only one "right strategy."

With your knowledge, if you don't have discipline, you may be making wrong decisions at the wrong time. Likewise, if you're discipline but you lack knowledge, you may be doing the wrong practice consistently due to lack of knowledge. Discipline is what makes you to act based on your knowledge. It's like the rules you play by otherwise, you end as knowledgeable loser. You need both in t NMhe journey of your investment.

See, it is necessary to adopt a strategy, if you follow the strategy, you will be able to reach success.

You seem to be full of absolutes Wash Skin, and your absolutes are not even correct, which largely makes you come off as dogmatic in the way that you are seeming to want to lecture guys within this thread - including the consideration that you have ONLY been registered on the forum since March, yet you want to suggest that there is ONLY one way to invest in bitcoin?

You invest a small amount but buy Bitcoin regularly, if you create an emergency fund along with Bitcoin investment, you will be able to benefit more and the risk will be less. If you invest in Bitcoin and follow the strategy, then only then you will be able to reach success.

Of course, there is good value in investing into bitcoin from a balanced perspective that also builds and/or maintains back up funds (aka emergency funds).

[Saltysugar99]

An emergency fund is certainly important. But the real question is not whether an emergency fund should be 3 months or 6 months to start with. There is no mandatory requirement to have an emergency fund at the beginning. In reality, everyone's finances are not the same. For some, it may be easy to create a 6-month emergency fund. For others, it may take a year or more to create a 3-month emergency fund. Therefore, if someone does not have an emergency fund at the beginning of investing, it is not always realistic to give advice like "he should have 3 months of emergency funds at the beginning instead of 6 months". Rather, if he really has discretionary income, he can start investing and create an emergency fund at the same time. In this, he does not have to wait until he creates an emergency fund.

I think that's better to focus on creating your emergency funds of three months as you have started your bitcoin investment because it might take more than one year to set up an emergency funds of three months of your monthly expenses. So that, you can focus on building and growing your bitcoin stash and put more money there than in your emergency funds when it's already up to three months.

We are investing into bitcoin for the future and for that reason, we must buy as many as we can which should be our concerns and work towards ongoingly accumulation of bitcoin till we reach our bitcoin target. If you want to build an emergency funds of six months, it will delay your bitcoin portfolio growth pace and holding back too much Fiat isn't good because it losses its purchasing power overtime.

The amount of the backup fund should depend on the financial situation and cash flow of the person investing. If someone has a stable salary, low expenses, 3 months may be enough. Again, if someone has irregular income, responsibilities or unpredictable expenses, it may be reasonable to keep 5 or 6 months of backup. And ideally, the backup should be 3 months of expenses, not 3 months of income. If someone earns $1,000 a month but has essential expenses of $700, there is no need to assume $3,000 while calculating his target. He can keep $2,100 to $2,500 in the backup fund as his expenses. And reducing the backup fund because fiat loses purchasing power is also an incomplete argument to me. Yes, inflation can reduce the value of cash in the long term. But  cash is not not holding as a back up fund to give feed back like Bitcoin. The cash is to provide liquidity. $2,500 backup may lose some purchasing power after a year, but if that $2,500 pays medical bills or a few months of rent during a bear market when unfortunately you lost your job or income source and you don't have to sell Bitcoin , then cash has provided a very real service. This is why good financial management is about finding a balance management according to your circumstances.

[JayJuanGee]

[edited out]

One of the most important thing about investment is to clearly define the objectives of your investments, know exactly what you want to achieve through your investment, know where you are heading to. Your objectives will point out to your obligations and you will be able to know and also understand your purpose as an investor.

You, @Yeesha, seem to be imposing your own values on what you believe bitcoin investing entails.

Each bitcoiner can choose for himself in regards to the extent to which he wants to study various details of bitcoin and/or various details of his cashflow management practices.

Of course, I personally put a lot of value in learning and organizing, yet those are still personal choices.

Discipline investor focus solely on their investment objectives by managing risks carefully and following a clear and accurate investment plan. Some people think that long-term investment is equivalent to long-term wealth building, which is not. Long-term investment and long-term wealth building are two different things, long-term investments can guarantee wealth building, but having last long wealth required more than just holding for years. Investment holding is just the key to pin down your investment but the growth and benefits of your investments lies on proper management, (by managing risks carefully, being patient and handling every changes that occur with caution without allowing your emotions to affect your decisions).

You seem to be throwing out vague jargon.  Have you read the thread?  Maybe you could figure out ways to incorporate your vague jargon into some of the various concepts that I present within this thread, since this thread happens to be about my bitcoin investment ideas.

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.

With your knowledge, if you don't have discipline, you may be making wrong decisions at the wrong time. Likewise, if you're discipline but you lack knowledge, you may be doing the wrong practice consistently due to lack of knowledge. Discipline is what makes you to act based on your knowledge. It's like the rules you play by otherwise, you end as knowledgeable loser. You need both in the journey of your investment.

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.

You are speaking in "gobble-dee-gook" @AYOBA.  Investing in bitcoin tends to be a combination of both learning and action, and there is quite a bit of value in action, since if a person spends a bunch of time gaining knowledge while failing/refusing to act, then those kinds of behaviors are not likely going to help him in terms of building both his bitcoin stash and also building/strengthening his cashflow management systems (practices).

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.

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.

You seem to be overstating the case for having knowledge during or before buying bitcoin.

Why can't guys figure out for themselves the extent to which they want or need knowledge and the extent to which they might choose to invest into bitcoin aggressively or whimpily based on how much knowledge that they perceive that they have?

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.

You are overly emphasizing the knowledge component of bitcoin investment, and guys can start from where they are at, and surely it is better if guys are able to take reasonable rather than gambling approaches to bitcoin, yet at the same time, you @Silikiem seem to be suggesting that guys have to somehow spend time making sure that they don't have those gambling attributes prior to getting started investing into bitcoin.  

Sure, there are a lot of guys who have tendencies to be greedy and to gamble and to take chances, yet I doubt that it is productive to presume that guys have those gambling and/or those characteristics of playing too BIG, and yeah, if they fuck up and they overdo it, then they are going to be the one that has to pay the consequences of his failing/refusing to begin his bitcoin build up within moderate and reasonable boundaries (even if aggressive at the same time).

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.

I find it quite puzzling that ongoingly guys are trying to micro-manage what kinds of knowledge guys need or don't need, and surely there seems to be tendencies to patronize others and to presume that they are not going to figure out balancing matters on their own in the event that they are not micro-managed.  I prefer to presume that guys are adults and they have common sense rather than presuming everyone to be a fuck up.  Yeah, guys are going to make mistakes and they are also going to do stupid shit and maybe they are going to need practice in terms of applying their own common sense and going forth with moderation, yet it seems to me that an overwhelming majority of bitcoin newbies should be able to figure out their own proper balances in terms of building their bitcoin portfolio and gaining whatever knowledge that they don't have along the way.

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....

You are creating too many requirements in regards to what knowledge you expect newbies need in terms of both determining wallets and also in terms of your vague insinuation that special knowledge is needed before getting started, which is not true.

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....

You sound confused @GeorgeJohn, and do you even know which thread you are posting in?  You repeated the vague idea of knowledge needed and you also seem to be confused about what is investing, since you seem to be suggesting short and long term investing.

Investing in the context of this thread is 4-10 years and beyond, and most guys would be shooting for 10 years or longer unless they have age and/or health considerations that do not allow them to commit to 10 years or longer.

if you are thinking about less than 4 years, then that sounds like trading rather than investing, which would be mostly outside of the scope of this thread.

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...

Even though you talk about knowledge vaguely, at least you recognize that it is quite likely that many newbies would be starting out investing in bitcoin without full knowledge.

At the same time, I still think that your ways of talking about knowledge and investing are failing/refusing to recognize what thread you are in and so you are bringing in outside ideas without even attempting to address the various ideas of this thread, since the thread is about my ideas related to bitcoin investing.

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.

Sure, I agree that learning is important, yet at the same time, how much knowledge that guys choose to get is discretionary - meaning that it is up to them regarding how much they want to pursue (or not) knowledge and what kinds of knowledge that they want to pursue related to bitcoin accumulation and/or related to cashflow management.  

The pursuit of knowledge or the needs for specific kinds of knowledge is not some kind of an objective and/or strict thing. Guys choose their level, while at the same time, so many times, we repeat that the main kinds of knowledge that a guy needs in order to get started is figuring out if he has discretionary funds and from where he is going to first start to source his bitcoin.

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.

What you are saying is vague @Princess Leah.

It seems to me that the punchline continues to be that whether and how much knowledge is needed remains discretionary, meaning that each person decides and there is no reason to impose what knowledge that you believe that he needs, since there should be some presumption that each newbie should be able to figure out these matters for himself, and if such newbies figures that he needs to know more than having discretionary funds and knowing where to source bitcoin before getting started, then he can decide if he needs to seek further knowledge or not.

[Promocodeudo]

You don't have to get it right before you can start your bitcoin accumulation, all you just need is a discretionary income to start with, then along the line, you can learn more on it, and also putting down emergency and reserve funds alongside your Bitcoin investment, so that you would not be forced to sell when you never wanted to, due to emergencies.

It depends on what anyone mean by getting it right, if what he mean by getting it right, is by having his discreationary income which you have mentioned, then it is good, however, anything aside that might be a wrong method, but why do people keep emphasizing on learning too much, as though, if they start, they cannot learn in the process, learning doesn't come instantly, to the best of my knowledge, we learn fast when we are fully involved in something, that's the same thing with Bitcoin investment, making research upon research without practical involvement in Bitcoin investment is seen as words without action, which proves nothing.

[obuoma]

The idea of someone has to finish building some cash aside, before starting buying bitcoin, it seen to me as totally waste of opportunities, because both the cash and bitcoin position can be built at the same time without you hoping for one to finish before starting another one. The must important point here is to start accumulating your bitcoin investment no matter what, in gradually and consistently process. As a serious investor who truly believe in long term bitcoin investment, don’t have to delay their starting of bitcoin accumulation, even if they don’t have enough money, they can small and be consistent with it until they build a meaningful bitcoin position.

I don't understand what you meant by " has to finish building cash aside" but if I get what you saying correctly I think it is impossible for someone to have all the money needed for them to kick start their investment because investment money  or funds can not be gather all and waiting to do this will or may take the folk the whole life time and yet they won't still be able to gather it. So, what is reasonable is figuring your discretionary and work with it and don't look at how small but Instead focus on consistency.

It is completely wrong to consider building money separately before investing it into Bitcoin, such practice is more or less excuse not to invest in Bitcoin. The time the investor is building that money in fiat is like exposing the money to inflation and the possibility of using the money for something else that is not Bitcoin investong. The time the investor is using to build that money in fiat is supposed be used to accumulate Bitcoin gradually using the DCA method or any other method that allow the investor imvest gradually and regularly. There is no point accumulating fiat before investing it into Bitcoin, the investor can invest the fiat as they come.

[Bigjoe33]

[edited out]

One of the most important thing about investment is to clearly define the objectives of your investments, know exactly what you want to achieve through your investment, know where you are heading to. Your objectives will point out to your obligations and you will be able to know and also understand your purpose as an investor.

You, @Yeesha, seem to be imposing your own values on what you believe bitcoin investing entails.

Each bitcoiner can choose for himself in regards to the extent to which he wants to study various details of bitcoin and/or various details of his cashflow management practices.

Of course, I personally put a lot of value in learning and organizing, yet those are still personal choices.

According to you @Yeesha, we should clearly define our investment objectives and know what we want to achieve through our investment, thats okay, but it's sounds as though there are many other things an investment may want to do other than investing and HODLing. A good investors objectives is as simple as buying Bitcoin consistently and HODLing, which you firstly determe your discretionary income and begin to buy Bitcoin with little amounts as you can afford using the DCA, and also building emergency funds alongside simultaneously. You don't have to make it sound too ambiguous or so demanding before you get started.

You don't have to get it right before you can start your bitcoin accumulation, all you just need is a discretionary income to start with, then along the line, you can learn more on it, and also putting down emergency and reserve funds alongside your Bitcoin investment, so that you would not be forced to sell when you never wanted to, due to emergencies.

It depends on what anyone mean by getting it right, if what he mean by getting it right, is by having his discreationary income which you have mentioned, then it is good, however, anything aside that might be a wrong method, but why do people keep emphasizing on learning too much, as though, if they start, they cannot learn in the process, learning doesn't come instantly, to the best of my knowledge, we learn fast when we are fully involved in something, that's the same thing with Bitcoin investment, making research upon research without practical involvement in Bitcoin investment is seen as words without action, which proves nothing.

Getting started once you have your Discretionary is the best anyone can do, because while readily involved in the market, you would learn personal things that will help to guide you through. Perhaps, you might have learnt some previously or read about them, but the real experience you get first hand makes you understand better or compliments your previous knowledge. So, emphasing on learning enough first before starting is not too good because you may never start since knowledge never ends. The better emphasis should rather be on,, getting your discretionary income and starting right away and then learn more along the process.

[Joeboy]

~snip~

If people will have that patience to understand the risk in bitcoin and making a good investment plan, it will be a good towards bitcoin investment but not everyone will learn how to invest in bitcoin from the beginning,  some people will rush into and have a terrible experience but this experience will be used as a mistake to learn from, but as for those who cant go through this experience it is better to learning very serious than to rush into bitcoin to invest. Risk management is an important aspect in investment to understand,  because it prevents one from losing money unnecessarily.

And what even makes you think that risk management can't be learnt while you are in the process of your investment... Self exclusion all in the name of trying to learn can never guarantee that you would eventually become knowledgeable about what you intend to learn, as well as things like Risk management... And so it's much more better that someone very well start with small amounts of discretionary income so as to first experience how volatile Bitcoin is, so that they could then learn from that very experience so they could be able to control much better how much they can afford to risk into/put into their Bitcoin accumulation...Fyi, Involvement is actually the best way of learning as far as Bitcoin is concerned...

[Itz-prisigold]

That is why Bitcoin investment offers advantages not found in other investment models when approached correctly with a long-term strategy, failure is virtually impossible. Some people worry excessively before even starting instead of building the confidence needed to invest, they become paralyzed by the fear of failure. It is precisely this mindset that often prevents people from achieving financial freedom.

If one invests in Bitcoin correctly, incurring a loss is virtually impossible. We know that Bitcoin cycles are a reality the key to success lies in maintaining consistency through a measured approach and the use of the right strategy and if that is done, the investment will certainly proceed as expected.

Get the fuck out of here.

Bitcoin is not guaranteed to be successful, even if guys do everything right.

That's why I believe it is important to differentiate between doing everything right and expecting a specific outcome.  While an investor can make sound investment decisions, use some of their discretionary income, manage their cashflow, establish a good backup funds, and that discipline to hold his or her Bitcoin for long term investing, but they cannot control how Bitcoin price will perform in the future.

I actually agree that having a good financial practices can help an investor to minimize unnecessary errors and also help you maintain your investment during challenging times, but it can't ensure that Bitcoin's will perform the way we expect it to.  To me, the true goal is to make a good decision that can be made with the informat available today, and to realize that the outcome may turn out to be different from the outcome that we hoped.

[Hardyrobust]

The idea of someone has to finish building some cash aside, before starting buying bitcoin, it seen to me as totally waste of opportunities, because both the cash and bitcoin position can be built at the same time without you hoping for one to finish before starting another one. The must important point here is to start accumulating your bitcoin investment no matter what, in gradually and consistently process. As a serious investor who truly believe in long term bitcoin investment, don’t have to delay their starting of bitcoin accumulation, even if they don’t have enough money, they can small and be consistent with it until they build a meaningful bitcoin position.

I don't understand what you meant by " has to finish building cash aside" but if I get what you saying correctly I think it is impossible for someone to have all the money needed for them to kick start their investment because investment money  or funds can not be gather all and waiting to do this will or may take the folk the whole life time and yet they won't still be able to gather it. So, what is reasonable is figuring your discretionary and work with it and don't look at how small but Instead focus on consistency.

It is completely wrong to consider building money separately before investing it into Bitcoin, such practice is more or less excuse not to invest in Bitcoin. The time the investor is building that money in fiat is like exposing the money to inflation and the possibility of using the money for something else that is not Bitcoin investong. The time the investor is using to build that money in fiat is supposed be used to accumulate Bitcoin gradually using the DCA method or any other method that allow the investor imvest gradually and regularly. There is no point accumulating fiat before investing it into Bitcoin, the investor can invest the fiat as they come.

It is not a good idea for someone that wants to start investing in bitcoin to think that needs to build or gather enough money before they can start. With the DCA strategy, they don't need a large sum to start investing in bitcoin. All they just need do is to figure out if they have discretionary income and using the DCA strategy they can start with a percentage of their discretionary income. Through consistent buying they can be able to build a good portfolio. So the Idea of wanting to gather a large before starting is definitely wrong.