JJG’s Outline of Bitcoin Investment Ideas

[Brizi5000]

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.

There’s no amount of time one will spend in learning bitcoin that will make you to be perfect with everything about your bitcoin investment, mistakes will surely come despite all the learning because bitcoin is very unpredictable. It’s better to start investing when our discretionary income is ready and not to delay getting started trying to learn everything about bitcoin investment. With the DCA method, we can often reduce the impact of the risks associated with bitcoins volatility by spreading the purchase over time when there’s a discretionary income to use for such purchases either weekly or monthly schedule.

[Rockstarguy]

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.

I don't think saving money to invest in Bitcoin is good because the DCA strategy of investing in Bitcoin doesn't require this. The DCA strategy enables one to buy Bitcoin immediately when one has the opportunity to do so.

With the DCA method, you don't need to stress yourself to gather money to buy Bitcoin, as one can buy from their discretionary income with the amount they can afford. One of the reasons why you don't need to save money before buying Bitcoin is that it is just better to buy directly, because consistency matters in the DCA strategy; it builds discipline and allows you to concentrate better.

[SmartCharpa]

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.

Of course, it’s a wrong idea to depend on your investment as a way of surviving. You can see that it not advisable for anyone to invest if they don’t have any other way of getting money to solve other problems. There’s no way the person will survive on their investment because their focus will be on the market, any changes in the market will lead them into selling their bitcoin, because all they will hope for all the time is that price increases, and that will not happen. The price will go up and down.

If an investor does not have a backup funds, then they will end up touching their investment if any unexpected thing occurs because they have no other backup funds to solve the problems. Having your discretionary income make your investment journey will be more easier and come with less stress than anyone who invests outside their discretionary budget.

[Princess Leah]

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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.

How about those who have no idea of what do to own Bitcoin, i mean how to buy and where to buy or how to store the coin, don't you think they'll need to have knowledge about that? I feel that such people can have their discreationary income intact but don't know what to do with it since where to buy or how to buy isn't known to the person.

 That's why i empathized about having knowledge about those basic stuffs, anyways thanks for your correction sir, it’s good to have you back on this thread, i believe that lots of folks here also missed getting more knowledge from you.

[Homemade-IQ]

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.

How about those who have no idea of what do to own Bitcoin, i mean how to buy and where to buy or how to store the coin, don't you think they'll need to have knowledge about that? I feel that such people can have their discreationary income intact but don't know what to do with it since where to buy or how to buy isn't known to the person.

Anyone that is this ignorant, don't have a common sense because common sense will be enough for such persons to do a simple Google research on how to buy and where to buy it.
They rest of it like the best place to hold your Bitcoin is secondary, and he can learn that along the way in his accumulation journey, not when he is about to start, because trying to figure that out may delay him or her, if such person is not a fast learner.

[SDS11]

Anyone that is this ignorant, don't have a common sense because common sense will be enough for such persons to do a simple Google research on how to buy and where to buy it.
They rest of it like the best place to hold your Bitcoin is secondary, and he can learn that along the way in his accumulation journey, not when he is about to start, because trying to figure that out may delay him or her, if such person is not a fast learner.

i do not agree with you that anyone who does not know how to buy and where to buy does not have a common sense. common does not teach one how to buy bitcoin and where to buy rather common sense only make one to be very conscious not to make mistake anyhow. you can not know how to buy bitcoin and where to buy without someone guiding you or giving you the knowledge and steps you need to do it, when i started bitcoin journey i do not know how to do any of these simply because i was not familiar with it but that does not mean i do not have a common sense then.

[IceLincoln]

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.

I love the way you often say “Get the Fuck out of here”…. Hahaha 🤣 reading it, it doesn’t sound rude to me but funny, that’s by the way.

Yes bitcoin is not 100% guaranteed to do well even in the long term but it has a stronger probability of doing well than not. As enthusiasts it’s good to have confidence and trust in Bitcoin but not overconfidence to the point where you begin to use your money meant for basic expenses to invest, I’ve heard or rather read where some members here say “Bitcoin is too sure to be limited to just discretionary money”. These people I assume are not just talking about but are also making this wrong decisions with their investments.

[JayJuanGee]

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

A lot of the comments here are vague and difficult to understand by someone completely new to Bitcoin who may be seeking for a way around it. To make things a little easier, we must distinguish basic knowledge from the knowledge we are discussing here so that anyone whk joins this conversation will know that what is required to get started is basic knowledge such as how  and where to buy Bitcoin and how to make withdrawals.

Sure a bitcoin newbie may well want to make sure that he knows how to both buy and sell bitcoin, yet he does not have to know how to withdraw.

Knowing how to withdraw implies knowing how to privately store bitcoin, which is not necessary in order to get started buying bitcoin.

With time they can begin to learn about self custody and other security measures that will enable them protect their investment. As they continue, they will also learn about emergency funds and other forms of measures taken to protect the investment. This pattern will give the new investor direction of his growth trajectory.

Sure newbies can start out with basics and he can expand his knowledge in the direction that he wants to expand, and how and whether he chooses to pursue certain areas of knowledge is up to him.

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

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

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

It is not right to consider knowledge irrelevant in investment. If you invest money without knowing anything about an asset, you do not have an idea about the risks. There is also a possibility of making wrong decisions.

Since this is a self-moderated thread, at some point I might have to start deleting so many of these ongoing posts that are proclaiming some needs for specific knowledge and/or suggestions that some kinds of specific knowledge is required to invest in bitcoin.

Many of us should realize by now that the only specific knowledge that is needed is knowledge of discretionary funds and knowledge of how to source the initial bitcoin.  Otherwise, the extent to which guys choose to acquire more knowledge is up to them, so members should stop proclaiming ongoing vague nonsense about some supposed additional knowledge that guys supposedly need in order to buy bitcoin, when they don't need such.

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

This is confusing.  The punchline is that specific kinds of knowledge can be learned along the way, and it is up to each person to figure out what he wants to know or what he needs to know within his own judgement.

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

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

"We" are not saying that "we" need basic knowledge.

There are guys who keep repeating that non-sense as if they do not understand that the only thing needed is discretionary funds.. so these ongoing vague assertions of "basic knowledge" tends to be misleading, especially since there is no such requirement for guys to get started buying bitcoin.

[edited out]

Spot on, I see now reason why someone who is intending to hold for a period of 5, 10 year or even more want to learn how to withdraw, it very unnecessary from the beginning. And I still get your point on investing while learning. No one will put his/her hard earned money into something and be lazing about, so if these will give them the zeal to about things like Gas fee, network congestion and so much About their investment.

So for a newbies  you should know you don’t need to learn about withdrawals before kick starting your journey but it can be among your learning process after investing.
[/quote]

Bitcoin does not have "gas fees," so fuck off with your incorporation of shitcoin vocabulary when we are talking about bitcoin in this thread.

[edited out]

A person will not decide to invest tomorrow after hearing the word bitcoin today. Rather, he will do more research on this .

Who said that more research is needed?  The mere fact that the guy ONLY heard bitcoin for the first time is not sufficient information to decide on his behalf that he has to do more research.  The guy can decide on his own about whether and/or if so how much research to do about bitcoin, if any.

You will not find someone who just learned about bitcoin and started investing later. Rather, those who invest in bitcoin take some time. Because they are completely new at that time.

You want to decide for someone else?  Are you presuming that the guy cannot decide for himself?

And it will not take so much time to know how to buy bitcoin, the security of the wallet, how to transfer from exchange to wallet, how to back up the seed phrase in some way that time and opportunity will be wasted to invest in bitcoin.

You are trying to proclaim that you know how much time that it will take a newbie to figure out from where to source his bitcoin?

You are also presuming that a newbie needs to know how to secure a wallet?, how to transfer from an exchange to a wallet?  how to back up a seed phrase?    

You are presuming way too many things.

Beginners don't need to know all of things that you are presuming that they need to know in order to get started buying bitcoin.

And the issue of withdrawal is also part of this basic knowledge.

Even though I might grant you that knowing how to buy and how to sell might be considered basic knowledge, yet knowing how to withdraw is not basic knowledge since guys do not need to know how to withdraw or even how to maintain a private wallet prior to starting to invest in bitcoin.

So these things are not unnecessary. And not much time is wasted to know these things. Rather, after knowing these things, an investor becomes interested in bitcoin.

You are presuming too much.

So before investing, a person already learns this basic knowledge,

To start, all a beginner needs is to make sure that he has discretionary funds  not all the other various things that you believe that he needs to know.

he may learn out of curiosity. Because if someone invests in any asset completely blindly, it will not be logical . And buying Bitcoin, getting a wallet address, and practicing transferring from exchange to wallet with a small test transaction and withdrawing are not a huge academic subject that requires delaying investment for a few years.

You seem to know, in advance, how much time it will take another person to learn certain kinds of things related to bitcoin?

~snip~

Spot on, I see now reason why someone who is intending to hold for a period of 5, 10 year or even more want to learn how to withdraw, it very unnecessary from the beginning. And I still get your point on investing while learning. No one will put his/her hard earned money into something and be lazing about, so if these will give them the zeal to about things like Gas fee, network congestion and so much About their investment.

So for a newbies you should know you don’t need to learn about withdrawals before kick starting your journey but it can be among your learning process after investing.

Even though a person would learn about how to make withdraw but that should be after which they have achieve their investment target or maybe, during the middle of their accumulation journey, not when they literally had nothing in their portfolio. because learning about withdraw in that stage is like a mix of priority. I frequently suggest that instead of a beginner to give priority on this aspect of withdrawal they should be more worried about the security of their investment even though learning about the security of their investment is more of technical but it's better off than giving priority to something that doesn't matter  and / or unnecessary for the main time.

A newbie can decide how much he wants to or needs to learn before getting started buying bitcoin, yet at the same time, in this thread, several of us (including yours truly) emphasize getting started buying bitcoin, and for sure learning to withdraw is not part of what is needed, even though figuring out the extent to which he has discretionary funds would be something that would be needed to know prior to getting started since a newbie needs to invest from his discretionary funds and not from funds that he needs to cover his expenses.

[edited out]

.... this is a bitcoin trade and not trading so don't bring up trading discussions here because it's the opposite of investing so that, you don't mislead newbies reading this thread to feel that trading is a good option to start your crypto journey with.  

I don't know why you feel some need to mention "crypto" or shitcoins, since this is a bitcoin thread.

Bitcoin is not the same as crypto, so I am not sure why you choose to mention crypto, unless you were trying to sound smarter, yet mentioning crypto in a bitcoin thread (like this one) makes you look dumber rather than smarter, since it should be pretty clear that we are not talking about shitcoins in this thread, absent some kind of a reason to do so, and your own use of the term crypto is quite vague in regards to what you were referring to.  If you were referring to bitcoin, then why didn't you just use the word bitcoin instead of crypto?  Your word choice makes little to no sense.

[PERtua]

The difference I think is the level of knowledge that you need to begin, and the level you need to get to the next level with. A new player should at least have some idea of what they're purchasing, how they can obtain it in a secure manner and that the value might plummet. After that, there is no benchmark of knowledge to which everyone should strive to attain before purchasing. A person may begin with a few and just keep moving forward with their education on their own in regard to security, taxation, learning about market cycles, and self-custody. In some cases, experience can be used to help one understand some of these lessons. What matters is not the phrase I'm still learning, but also how they're learning.What's important is not the word still, but the manner of the learning, I'm still learning.

[JayJuanGee]

[edited out]

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).

You are saying that a plan needs to be made before getting started? Why can't they just start?  If the beginner knows that he has $100 per week that he can buy bitcoin, then why can't he start with $30 per week until he gets his bearings and starts to become more comfortable?

[edited out]

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.

You think that a brand new person to bitcoin does not have any knowledge? 

Why can't he just adjust his starting size from $100 down to $30 and then figure out what he needs to know while he is investing $30 per week?

What is the BIG deal if he spends 8 weeks ($240) buying bitcoin and then he decides that he has to make some adjustments?  What has he lost over those 8 weeks of buying $30 per week?

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.

Bitcoin is not an exam, but instead a process of investing for 4-10 years or longer, so each week of investing $100 per week, $30 per week or some other amount is not going to add up to a whole hell of a lot in the whole scheme of things, even though it seems like a good idea to have had gotten started as soon as possible.. rather than fucking around preparing in theory without acting.

If a guy has discretionary funds, he can get started and learn as he goes.

First off I will correct the impression in case of any that success isn't actually a guarantee when it concerns Bitcoin accumulation... But then again there is a higher chance of success when certain things are in place .. So simply see this things.thats needs to be in place as the other additional requirements which is needed alongside knowledge which could increase the chances of success in the long run... There is the need for making use of discretionary income, being patient, having a safety net(emergency funds), building reserve funds, having a long term mindset, act of avoiding panic selling and whatnots.

All you have just stated so far is cool and I have no reason to argue on that. But what I what to add is that in as much as bitcoin investment has proven over the years to be outstanding, and also a lather to success especially for long term holders. It is still important we invest only what we can afford to lose to avoid future worries.  However, I'm not questioning its ability of pushing someone towards success but for clarity sake and for lasting peace of mind in our investment journey, investing from our discretionary funds remain the best funds to invest with.

Do you actually think there's an amount of money an investor would want to lose? An investor may initially start his investment with the money he can afford to lose and he continues his accumulation until over time, he starts investing based on the amount of money he can afford to leave for a long time.

The correct expression is to not invest any more than you can afford to lose.

There is no guarantee, so stop trying to change the expression and to suggest that you are investing amounts that you cannot afford to lose because you wrongly believe that you are going to get some money back.

The money a person can afford to lose is quite different from the money a person can afford to leave for a long time which we call discretionary income.

They both come from discretionary funds, and you are trying to change the expression based on your wrong beliefs that you think that you are guaranteed to get some money back.

An investor may have a discretionary income which he can afford to leave for a long time because it's an investment, but not the amount of money he can afford to lose even though he can leave it for a long time. As bitcoin mega success is not guaranteed, long term losses are not also common. Therefore since losses are not common in a long-term, then you stand higher chances to make profit.

I should just delete your dumbass rambling post.

The correct expression is to no invest any more than you can afford to lose.

There's a level "the money you can afford to lose" will reach, and you can no longer afford to lose it again. We're banking on the credibility of bitcoin and not hoping to lose our money at anytime. Traders understand better about the money you can afford to lose than investors.

The expression of not investing money that you cannot afford to lose applies to both trading and investing, yet here we are talking about investing, as you likely realize.

~~

Do you actually think there's an amount of money an investor would want to lose? An investor may initially start his investment with the money he can afford to lose and he continues his accumulation until over time, he starts investing based on the amount of money he can afford to leave for a long time. The money a person can afford to lose is quite different from the money a person can afford to leave for a long time which we call discretionary income.

An investor may have a discretionary income which he can afford to leave for a long time because it's an investment, but not the amount of money he can afford to lose even though he can leave it for a long time. As bitcoin mega success is not guaranteed, long term losses are not also common. Therefore since losses are not common in a long-term, then you stand higher chances to make profit.

There's a level "the money you can afford to lose" will reach, and you can no longer afford to lose it again. We're banking on the credibility of bitcoin and not hoping to lose our money at anytime. Traders understand better about the money you can afford to lose than investors.

What people use for investment is the leftover money after settling other important financial expenses even though it's a left over money it doesn't mean people can afford to lose it for a very long time as expected of investors to hold unto an investment, do they're a different thing altogether.

 Bitcoin investment is not like gambling where you depend on luck to win a bet, those are the kind of things people use money they can afford to lose and not for an investment, so I support your statement dear.

You are also incorrect about the statement @Princess Leah.  The proper expression is to not invest any more than you can afford to lose, so you are investing excess money and also money that you are not emotionally attached to.

~~

I still can not figure out what you actually mean by this. But from your rank I believe you should know and understand better that in as much as we cannot predict the future or know what tomorrow hold in stock, perhaps this is what brought about the idea of investing from our discretionary funds (which is the funds that is left over after all expenses has already been settled) and that is it. Nobody is matching or comparing bitcoin investment to be gamble. Far from that, the idea is just to play safe as an investor by doing the right thing at the right time.

You mustn't talk about my rank to prove a point cause Bitcoin knowledge is not measured by ran in this forum, you might have a better knowledge before even joining this forum. Well that's by the way, what i was trying to say is that telling someone to invest with what they can afford to lose is a good advise for gamblers but might not sound right for an investor.

The statement don't invest any more than you can afford to lose applies to both investors and trading, yet of course, here, we are talking about investors.

[edited out]

Anyways lets not stress this argument back and forth, since they're same thing anyone can use whatever phrase whether "discretionary funds" or "money they can afford to lose".

Of course, money that you can afford to lose is a subset of discretionary funds, since discretionary funds are used for investment, savings and discretionary consumption.  Hopefully guys are not putting all of their discretionary funds into bitcoin.

I was of the opinion that the idea of investing what the person can afford to lose was wrong but this year made me realize that statement is right. Even though we are not praying for the worst to happen, we must understand that nothing is certain when it has to do with investing as there is always some form of risk involved. For instance, there were investors who did everything correctly but fell victim to the coldcard vulnerability, something that is completely not their fault but it happened and they lost their money. If such investor put money that he cannot afford to lose, that would not be easy for him to bear.

I prefer saying "something I can afford" than something I can afford to lose,

You are cheating by trying to change the proper expression which is to not invest more than you can afford to lose.

but I don't think all these should be a problem as long as we are investing with our discreationary income which is either seen as our left over funds or what we can afford, the example you gave using coldcard implies that anything is possible which is why the idea of using what you can afford while investing in Bitcoin is very important, to avoid being hard on yourself when the unexpected occurs, I think being part of Bitcointalk forum especially taking part in discussion on threads like this one, has helped in shaping our minds on the right things to do when investing in Bitcoin.

We do our best, and even sometimes we might presume that we did everything perfectly, yet we still might end up losing bitcoin (funds).

[laspol65]

The difference I think is the level of knowledge that you need to begin, and the level you need to get to the next level with. A new player should at least have some idea of what they're purchasing, how they can obtain it in a secure manner and that the value might plummet. After that,

To invest in Bitcoin, you do not need to acquire knowledge completely before investing in Bitcoin, but after investing in Bitcoin, you can gain knowledge on your own and get ideas about Bitcoin investment from different people. Collect as much knowledge as you need and take as much risk as you need to start investing in Bitcoin, and invest in Bitcoin as much money as you can naturally throw away. So it will be much easier to sustain your Bitcoin investment for a long time, so you will see future success through Bitcoin.

there is no benchmark of knowledge to which everyone should strive to attain before purchasing. A person may begin with a few and just keep moving forward with their education on their own in regard to security, taxation, learning about market cycles, and self-custody. In some cases, experience can be used to help one understand some of these lessons. What matters is not the phrase I'm still learning, but also how they're learning.What's important is not the word still, but the manner of the learning, I'm still learning.

You should not be overly aggressive. You should start investing in Bitcoin slowly, and in this situation, if you invest in Bitcoin aggressively, you may face danger. So after starting investing in Bitcoin, you should definitely continue to buy Bitcoin and move forward into the future. So that you can take more risks in investing in Bitcoin on your own, so the risk of investing in Bitcoin is real and the method of transferring money is important.

[Stive009]

The difference I think is the level of knowledge that you need to begin, and the level you need to get to the next level with. A new player should at least have some idea of what they're purchasing, how they can obtain it in a secure manner and that the value might plummet. After that, there is no benchmark of knowledge to which everyone should strive to attain before purchasing. A person may begin with a few and just keep moving forward with their education on their own in regard to security, taxation, learning about market cycles, and self-custody. In some cases, experience can be used to help one understand some of these lessons. What matters is not the phrase I'm still learning, but also how they're learning.What's important is not the word still, but the manner of the learning, I'm still learning.

I do not believe it is necessary to know everything about Bitcoin right from the start in order to invest. What is truly essential at the beginning is understanding one's own financial situation and ensuring that the funds used for investment are truly discretionary meaning money one can afford to part with. Investing money meant for daily necessities children's education or medical expenses effectively puts one's family at risk. For a complete beginner who does not yet own a single Satoshi there is no need to obsess over wallet security self custody or market cycles right away Doing so would only lead to confusion. Instead it is far more practical to start with a small amount that fits within one's means. Once one has actual money in the market the motivation to learn will naturally follow. Over time one will learn how to make withdrawals understand wallets and gradually strengthen security measures. Learning and investing are not separate stages they can happen simultaneously. You do not need to be an expert to start but you cannot stop learning once you have begun. Starting small within one's means remaining consistent and gradually increasing both knowledge and Bitcoin holdings over time this is in my view the most realistic path for a new investor.

[Sim_card]

Collect as much knowledge as you need and take as much risk as you need to start investing in Bitcoin, and invest in Bitcoin as much money as you can naturally throw away. So it will be much easier to sustain your Bitcoin investment for a long time, so you will see future success through Bitcoin.

All you need to get started is your discretionary income and where to buy your first bitcoin from. You can learn the rest as you go with your weekly DCA. No one can know everything about bitcoin because the network is being worked on often to improve the security overtime.

There's no need collecting as much knowledge as you can before you start investing because in Bitcoin investment, you learn better with practice and not theory which is ongoing buying bitcoin and learning at the same time through experience. Waiting to collect as much knowledge as you can will delay you from becoming low coiner and that will definitely affect the size of your bitcoin stash in future.

You should not be overly aggressive. You should start investing in Bitcoin slowly, and in this situation, if you invest in Bitcoin aggressively, you may face danger. So after starting investing in Bitcoin, you should definitely continue to buy Bitcoin and move forward into the future.

Of course, brand new investors shouldn't invest aggressively in the beginning because they haven't studied their financial situation properly and understand it. They also wouldn't have their backup funds available since, they're still building it. However, if you've already built your backup funds as you are DCAing, you can invest aggressively, it's a matter of choice. It's when you invest over aggressively that's bad because that's gambling.

[Alonso_]

I don't think saving money to invest in Bitcoin is good because the DCA strategy of investing in Bitcoin doesn't require this. The DCA strategy enables one to buy Bitcoin immediately when one has the opportunity to do so.

What you’re talking about is a waiting strategy, I think people who wait to gather money before they can buy bitcoin are people who are probably waiting for the dip, and they would also be watching the market as to when they will be comfortable to buy bitcoin, because I don’t really understand the reason why someone who have a true intention to buy bitcoin would be saving and keeping money, when they can buy bitcoin through the DCA with whatever amount of discretionary income they have available, consistency is very important and crucial when it comes to buying bitcoin, by waiting and saving money, that is how they will be missing out on tremendous opportunities to accumulate bitcoin assets in their portfolio.

[Barikui1]

The difference I think is the level of knowledge that you need to begin, and the level you need to get to the next level with. A new player should at least have some idea of what they're purchasing, how they can obtain it in a secure manner and that the value might plummet.

I don't really think that you need to know much before starting your Bitcoin accumulation because that would be time wasting, and if you are not careful enough, procrastination might easily set in, and you may not even start at all. So once you have a discretionary income and you know where to buy from, buying right away is the best thing to do, then the rest of other knowledge you are seeking like what is required to develop a strong holding hands by putting down emergency and reserve funds in place can be attained along the line while accumulating consistently.
 

[Comeacross]

How about those who have no idea of what do to own Bitcoin, i mean how to buy and where to buy or how to store the coin, don't you think they'll need to have knowledge about that? I feel that such people can have their discreationary income intact but don't know what to do with it since where to buy or how to buy isn't known to the person.

I understand your point but do you really think it's that hard to get information about these things this days? We are in 2026 bro, knowing how and where to buy bitcoin is not that difficult anymore unless those people are living in another planet different from earth. I will agree with you if you say they're afraid to start investing probably due to their previous encounter with scams or something else but I won't agree lack of knowledge of where and how to buy is the reason holding them back from investing.

Even some Fintec apps now added Bitcoin to their platforms and you can buy directly by just depositing fiat into the platform, buy the Bitcoin and then send it to your preferred wallet. On the aspect of storage, I agree it's a major challenge especially for the newbies. They find it hard to make choice between exchange storage and self custody storage.

[Decimetre]

Thank you for the correction sir. I think I have understood that laying emphasis on 'investing what you can afford to leave for a long term' instead of 'investing money you can afford to lose' can infer a higher level of certainty which could be misleading to newbie investors. I drifted off based on the records of bitcoin and how it has consistently kept pushing up over the years after each cycle. Yes, I'm aware that bitcoin is a digital money and since we do not have control over what tomorrow would look like, then it's more outright to leave room for uncertainties. So yes, I understand that it's quite better to invest what you can afford to lose at all time.

Bitcoin is a volatile asset which all of us know and leaving your investments for any length of time does not also guarantee that a person would have a good profit on his investment which is why we have to limit our expectations from bitcoin and do what our feet can carry us when it comes to bitcoin investment.

[ZeroVinsonN]

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.

If they had simply invested with their discretionary income then they wouldn't have had much reason to regret, those people who start buying bitcoin and end up regretting are usually those who  buy with more than their discretionary income and they do this because they are chasing after quick profit, by the time they realize that bitcoin doesn't work that way they end up having to sell to get their money back and sometimes they sell at a lose due to the price volatility.
This is why figuring out their discretionary income and using it to invest is the most important thing sn investor needs to do, without their discretionary income bitcoin investment will only ever be a dream but by using their discretionary income they can invest in bitcoin and also set up their emergency fund to protect against unforeseen situations that might come up later.

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.

There’s no amount of time one will spend in learning bitcoin that will make you to be perfect with everything about your bitcoin investment, mistakes will surely come despite all the learning because bitcoin is very unpredictable. It’s better to start investing when our discretionary income is ready and not to delay getting started trying to learn everything about bitcoin investment. With the DCA method, we can often reduce the impact of the risks associated with bitcoins volatility by spreading the purchase over time when there’s a discretionary income to use for such purchases either weekly or monthly schedule.

Financial leverage for investors:
(1) Potential increase in asset value over time.
(2) Protection against currency depreciation.
(3) Portfolio diversification.

Ways to invest in Bitcoin
(1)Regular investment: invest fixed amount weekly or monthly.
(2) Trading: buy and sell based on market movements.
(3)Bitcoin related businesses: invest in companies and services connected to Bitcoin.
 
Conclusively
A successful investor should combine knowledge, patience, security, and proper risk management.

Corrected this for you.

[KiaKia]

This is correct, before someone invest in bitcoin they need to understand the risk involved in investing in bitcoin and how the investment works. The moment someone invest without a prior knowledge of how bitcoin works they may be disappointed at the end because they started without understanding the risk that is involved in the investment. Most at times this may result to massive loss since they don't know the risk or were anticipating such risk and probably was never prepared or planned for such risk. It is important for anyone that wants to invest in bitcoin to understand the risk involved before they start to avoid starting with the wrong mindset.

Investing in any asset be it Bitcoin or whatever without getting to know about that particular thing is a big mistake and it means that  the person has started failing already because when you fail to know and understand the needful it automatically means that someone has failed already because people who want to succeed in whatever they do always try to gather everything necessary concerning what they want to venture into before they even start and it is the right to thing do.

This isn't always the case, the reality is people around the world still gets into things that they don't understand and still make money from them..because there are managers around the world that get things done for them.

There are people who came asking me to help them invest on Bitcoin in the past and I did it for them and they maintained keeping their private keys without doing something wrong.

As important as self custody is today, why are people still keeping Bitcoin in cloud storage and centralised exchanges? Crazy right? Anyone who have been keeping their Bitcoin on Binance exchange since past years will still have access to it even though it's a wrong place.

People do crazy things and still manage to get away with it, not all of them have learned a lesson, and nothing bad has happened to make them want to learn from their lessons.

[Cossyblack]

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.

I don't know what is giving people the impression that they can know everything about bitcoin, knowledge of bitcoin is infinite, so if you think that you can learn everything about bitcoin,you will end up not investing in bitcoin. Having the Basic knowledge about is not a perequisive to kickstart your bitcoin investment instead what you need is your discretionary income,once you practically begin investing in bitcoin, you will gather knowledge about bitcoin along the way.