JJG’s Outline of Bitcoin Investment Ideas

[liasbaa]

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Investment method never gives you the certainty of success. Investment method is the purchasing method, by which you continue to buy continuously or buy in small amounts. Even if a person uses the best investment method, the success of his investment is not certain.

Those who assume that investing is guaranteed to succeed will experience discomfort in achieving the desired results. I believe that if you place too much hope in investing, you won't be able to anticipate what you'll receive.

This movement has caused many people to be less aggressive in making purchases, so this may be a good lesson for us in placing our hopes on investment success. This is natural, as market cycles can often deviate from our expectations.

There is no problem in investing in Bitcoin just for expectation of profit . But new investors should not change their decisions because of expectation. Because the market will not move according to our expectations buying aggressiveness should be based not on the market, but on own financial circumstances. And expectation can cause an investor to face losses in different ways, if he changes his Bitcoin buying strategy. If the bull market expectation is high, he can become overaggressive. Again if the expected pump does not come, he can get disappointed and stop buying Bitcoin regularly. So having expectation is logical but if it destroys the mindset of long term investment then there is a high possibility of loss.

There is a problem with investing in Bitcoin solely for profit. If a person is aggressive in the beginning for profit, then the trading attitude will be created in him. The desire to trade will make a new investor greedy. Since the price of Bitcoin is relatively volatile, most new investors cannot be patient. They can be unstable during periods of price decline or increase.

Many Bitcoin investors do not invest solely for profit. They consider Bitcoin as a store of value and accumulate regularly. As long as you have the motivation to build a Bitcoin portfolio and continue to do so through discretionary income, this will be the best investment strategy. There is no need to be too aggressive, you need to be regular in holding Bitcoin through discretionary income.

Evaluate Bitcoin as a store of value, not as a profitable project. If you follow this process for at least 4-10 years, you can get a decent amount of Bitcoin holding. The objective is profitable, but the amount of profit will be satisfactory if it is achieved by completing a complete process or completing a full cycle.

[Cossyblack]

For Bitcoin investment, acumulation is strictly with what we can afford which is our discreationary income, anything outside that, might it's consequences attached, we know that quantity is very important and it makes much difference on a long-term, but we can go above our means, provide that we are consistent with what our discreationary income, we can grow a reason amount of Bitcoin Bitcoin portfolio overtime.

I think it is just a matter of time, investor's discreationary income may increase in the process which means more stashes of Bitcoin can be added to any investor portfolio, however, I'm against anything that could lead to pressure in the course of investing in Bitcoin as it could make us to do what's not right.

As an investor,it is wrong to invest above your means, instead only invest with your discretionary income as it will help you minimise the pressure to panic sell if the price is going down. However, I think the reason think some investors sell their bitcoin early is because they invested beyond their means,and when they couldn't sustain it,they fall back to sell their bitcoin investment and that is an investor should avoid investing beyond their means so that they will not sell their bitcoin early or panic sell during the bear season..

If an investors want to increase the size of their discretionary income, they need to increase their hustlings or work multiple jobs to increase their incomes since their discretionary income is figure out from their incomes, but if they have yet to secure additional jobs, they should just manage whatever discretionary income that they can figure out at the moment instead of buying beyond their means.

[Alonso_]

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Investment method never gives you the certainty of success. Investment method is the purchasing method, by which you continue to buy continuously or buy in small amounts. Even if a person uses the best investment method, the success of his investment is not certain.

Those who assume that investing is guaranteed to succeed will experience discomfort in achieving the desired results. I believe that if you place too much hope in investing, you won't be able to anticipate what you'll receive.

This movement has caused many people to be less aggressive in making purchases, so this may be a good lesson for us in placing our hopes on investment success. This is natural, as market cycles can often deviate from our expectations.

Your statement sounds like you’re placing a curse on people who will be investing and expecting profits because you seems to be convinced that they will experience distress, you can never neglect the fact that most people who are investing in bitcoin are doing it because they feel they’ll definitely get some profits in the long run, but some people knows that profit isn’t guaranteed, while some people also believe that profit is guaranteed, you can’t totally change the mind of people, but they can only be made to know that before going into investment in Bitcoin that nothing is guaranteed which is why I feel it’s important to get some basic knowledge and understanding about bitcoin before getting started.

[Frankolala]

The objective is profitable, but the amount of profit will be satisfactory if it is achieved by completing a complete process or completing a full cycle.

I don't think that after a full cycle an investor will get a good profit, because his bitcoin portfolio hasn't reached a significant size and I don't see four years as a long term investment for someone below 50 years. This is because the longer you are in the accumulation game the better for you. You still have enough time to stretch your bitcoin accumulation time frame to ten years or more in order for you to be able to grow a significant bitcoin stash for the future. Don't forget that the longer, you hodli, the more your bitcoin portfolio keep compounding in value for a better profit.

However, profit shouldn't be the main focus for a brand new investor but to focus on building his bitcoin stash with DCA overtime and he should also have a bitcoin target that he can stay focus on accumulating till he achieve it regardless of the profit in his portfolio. If you put profit first, it might mislead you and you will stop your bitcoin journey half road and start selling and before you know it, you will transit from a long term investor into a trader. Buying consistently and persistently with DCA till you have reach an over accumulation stage should be the focus before thinking of profit.

[Charcol]

which is made possible by keeping extra discretionary funds to take advantage of the dip while actively DCAing without deviation.

Now you are getting really retarded if you believe that holding back funds in order to buy on the dip is more aggressive than regular DCA when more likely the opposite is true.

Face it.  You and some of the other guys who like to hold back money to buy dips that might not happen, you like to rationalize to yourself about your being smarter, more sophisticated and even more aggressive than a guy who is regularly, persistently, ongoing and consistently buying bitcoin.  Right?  

From my perspective, you kind of dip buying promoting guys are delusional and you are also spreading and promotiing incorrect information because you have a purpose to promote your own nonsense dip buying practices, while acting as if it is superior when the opposite tends to be true.

One thing I think investors who hold back their money just to wait for the dip fail to understand is that, actually they are delay their buying. Some people see it as a good plan,but what I want them to understand, there is not guaranteed for dip to happen as soon you expect, don’t be a serious bitcoin investor and still fall for dip as your plan. waiting for the dip will never be the best to accumulating bitcoin. that is completely wrong approach, but investing in bitcoin, need patience and long term, and how consistent investors is. After holding your money with you, planning your investment weather weekly or monthly interval. using DCA strategy is the best for newly investor, that can help them to stick to their plan and also give them rest of mind rather than waiting for dip to buy.

Just waiting for a low price can be a big obstacle or excuse for many investors. Although some people want to buy at a low price, they need to understand that a low price may or may not come. Just waiting for a low price may not be a logical decision. Because it is clear that it can slow down the investor's savings process. Because he bases all his investment plans only on a certain price in the future.

However, if an investor saves regularly, buying at different prices at different times helps to balance his average collection. If he continues to buy regularly and sees a decline in prices, then he can buy more based on his financial situation. Especially if he has already planned to buy at a decline in prices in addition to regular purchases and has reserves.

[samadam007]

Your statement sounds like you’re placing a curse on people who will be investing and expecting profits because you seems to be convinced that they will experience distress, you can never neglect the fact that most people who are investing in bitcoin are doing it because they feel they’ll definitely get some profits in the long run, but some people knows that profit isn’t guaranteed, while some people also believe that profit is guaranteed, you can’t totally change the mind of people, but they can only be made to know that before going into investment in Bitcoin that nothing is guaranteed which is why I feel it’s important to get some basic knowledge and understanding about bitcoin before getting started.

Bitcoin has rewarded investors that held in the past, but we still have to be careful not to have too much expectations. Put in mind too there’s possibility it may not come as expected and you could lose your investment.

Profit is not guaranteed, so the focus should be on accumulating within your means, so you don’t put too much pressure on yourself while building portfolio over time. If Bitcoin(maybe) performs well again in the future, you will surely be in a better position than those that gambled away their bitcoin chasing short term profits.

About your last line… stop imposing on others the idea of “basic knowledge” as requirement before they can start buying Btc. It is not a requirement; just unnecessary delay. The only thing someone needs to kickstart his Bitcoin journey is to figure out discretionary income, get started and continue learning while accumulating. If he feels he needs to learn some things after figuring out his discretionary income, then it is his choice. But it should not be presented as a requirement.

[Livingleged]

The ideas of these two paragraphs are largely correct, even though I frequently like to consider that managing our cashflows and deciding how much we are going to invest in bitcoin, save and/or discretionarily consume will ongoingly be influenced by our progress in building our bitcoin and our savings (back up funds), and so sure, if there might be some pay periods or even extended periods in which our income might end up going down and/or basic expenses end up going up, then we may well end up having to draw from our back up funds to cover our basic expenses.. which tend to be expenses that we cannot defer until our next pay period.  So the ideas that you contain in your second paragraph are not really incorrect, even though you mentioned discretionary consumption as if it were important in regards to the kinds of decisions that we might end up having to make in circumstances in which our income might be low and our basic expenses might go up.  I would speculate that anyone with any reasonable abilities to problem solve, he would have had already dropped his discretionary consumption during circumstances in which there are needs to tap into back up funds in order to cover basic expenses.. yet at the same time, if a person ends up having a lot of back up funds then they may well not be drawing their back up funds down to a low enough level in which it might have ended up becoming important to start to cut some or all of their discretionary consumption.

Yea, I also agree with this idea that managing cash flow is something that can change as our bitcoin holdings and backups savings grows. If income falls or basic expenses increases, we may need to use some of our backup  funds because those expenses cannot simply be postponed. At the same time, discretionary spending would normally be one of the first things to reduce before relying heavily on those backup funds.

However, if someone has built a large enough backup funds, they may not need to cut their discretionary spending immediately. The important thing is to maintain a balance between accumulation, saving, basic expenses and discretionary spending rather than treating the amount invested in the bitcoin as fixed.

[Grease5000]

I don't think that after a full cycle an investor will get a good profit, because his bitcoin portfolio hasn't reached a significant size and I don't see four years as a long term investment for someone below 50 years. This is because the longer you are in the accumulation game the better for you. You still have enough time to stretch your bitcoin accumulation time frame to ten years or more in order for you to be able to grow a significant bitcoin stash for the future. Don't forget that the longer, you hodli, the more your bitcoin portfolio keep compounding in value for a better profit.

However, profit shouldn't be the main focus for a brand new investor but to focus on building his bitcoin stash with DCA overtime and he should also have a bitcoin target that he can stay focus on accumulating till he achieve it regardless of the profit in his portfolio. If you put profit first, it might mislead you and you will stop your bitcoin journey half road and start selling and before you know it, you will transit from a long term investor into a trader. Buying consistently and persistently with DCA till you have reach an over accumulation stage should be the focus before thinking of profit.

I totally agree with your opinion because a sustainable strategy is no doubt important, but I don't think four years should automatically be considered long term investing, especially for a young and new investor. Because the longer the accumulation period, the more time an investor has to build a better bitcoin position.

[Comeacross]

The mistake many people make is buying aggressively without even thinking about their financial situation. Investment isn’t suppose to make someone to be under pressure. It’s better to know your limit before increasing your buying.

But does anyone who's thinking straight invest above their financial capacity? I know people do that because of FOMO but I can tell you that they never know much about investment. You can only become a good investor if you know your limit and that includes knowing your financial capacity before starting.

Investment is not suppose to be threatened your survival. If you can not survive if your investment goes to zero, then you shouldn't be investing. It's better to be buying gradually for your peace of mind than buying aggressively above your financial level that you'll eventually sell at lose due to pressure. Investment is not just about having money to invest, it's about making smart decisions too.

[Muba20]

You are totally right, there are so many people who will tell you they waiting for the Dip, and the end the Dip will come and they would buy just very little.

Should they go and steal or put themselves in tight positions financially in order to buy a bigger amount of bitcoin, is that what you want? That amount you are considering as little might actually be a big amount for another investor. Let’s not put pressure on other people or make them look like their efforts are not worth it. Remember little by little is how we grow our portfolio, especially we plebs that don’t have hedge funds.

Don't get it wrong mate, his statement never point at anybody to put themselves on pressure to buy bigger amount of bitcoin, but rather a better and easier strategy to buy bitcoin at a subsidies price. which can be achieved regardless of how small they may be earning. all he said was that instead of waiting and trying to save up to buy the dip, it will profit them more in the long run if they use that money to DCA.

you were already making it sound like its an emotional blackmail here. i think if one is not ready for bitcoin yet, it is advice that they work on their cashflow first before deciding to start acquiring bitcoin and that is why he was specific on buying only with discretionary income.  

Buying Bitcoin at a lower price can certainly be convenient. But the problem is that when waiting for a low price is presented as an easy or advanced strategy, new investors may mistakenly assume that identifying the right price is the main task of investing. But we know that in reality, neither you nor I know when it will go down or rise again.

If someone has discretionary income and stops buying regularly and just waits for a drop, then the price can often rise even more before that drop comes. Even if the price starts to fall, he may postpone buying in the hope of a bigger drop. As a result, the search for so-called cheap prices can gradually turn into an indefinite wait.

[Sammysmart001]

If someone has discretionary income and stops buying regularly and just waits for a drop, then the price can often rise even more before that drop comes. Even if the price starts to fall, he may postpone buying in the hope of a bigger drop. As a result, the search for so-called cheap prices can gradually turn into an indefinite wait.

One problem i also see is waiting for a perfect dip is even when price finally drops as an investor they might still hesitate to buy. Having the mindset that it will still fall, and will keep on waiting their own better price.
That why a regular DCA is useful to free self from that pressure. Don’t have to border urself with if today price is at the bottom or top. When the money all set up you just have to keep accumulating and the market decides on the price of each purchase.

[Rhow]

The objective is profitable, but the amount of profit will be satisfactory if it is achieved by completing a complete process or completing a full cycle.

I don't think that after a full cycle an investor will get a good profit, because his bitcoin portfolio hasn't reached a significant size and I don't see four years as a long term investment for someone below 50 years. This is because the longer you are in the accumulation game the better for you. You still have enough time to stretch your bitcoin accumulation time frame to ten years or more in order for you to be able to grow a significant bitcoin stash for the future. Don't forget that the longer, you hodli, the more your bitcoin portfolio keep compounding in value for a better profit.

The logic of holding for a long time often teaches me a lot in investing. In the case of long-term investment, the investor has the opportunity to gradually increase the amount of Bitcoin without relying entirely on the price of one day. But if you hold it for a long time, assuming that the market price of that amount will increase on its own, it seems to be the same as the guarantee of profit.

Even if an investor buys Bitcoin regularly for ten years, his total result will depend on what price he bought it at and where the market price of Bitcoin will stand in the future. Of course, a long time can give him the opportunity to buy more. But it does not add a fixed rate of profit every year. So in my opinion, which is suitable between 4-10 years or more should be considered not only by age, but also when the money may be needed and whether he has the ability to maintain the plan if the price drops.

[Princess Leah]

If someone has discretionary income and stops buying regularly and just waits for a drop, then the price can often rise even more before that drop comes. Even if the price starts to fall, he may postpone buying in the hope of a bigger drop. As a result, the search for so-called cheap prices can gradually turn into an indefinite wait.

One problem i also see while waiting for a perfect dip is even when price finally drops as an investor they might still hesitate to buy. Having the mindset that it will still fall, and will keep on waiting their own better price.
That why a regular DCA is useful to free self from that pressure. Don’t have to border urself with if today price is at the bottom or top. When the money all set up you just have to keep accumulating and the market decides on the price of each purchase.

That's like a waste of time in disguise cause they end up not knowing the price they'll buy at but end up wasting their time in the name of waiting for the perfect dip. For instance if Bitcoin drop to $70k they'll be like am buying at 65k, then it drops to that price and they'll be like I'll buy at $60k and on and on being uncertain of the right price.

 However the DCA kills the doubt about the price to buy at, instead of having uncertainty about when is the right time, you'll have to buy at any point and be consistent with doing that regardless of how the market fluctuate, that's what makes it very relaible cause you're not trying to beat the volatile market with speculation but with consistency.

[Jewan420]

Bitcoin has rewarded investors that held in the past, but we still have to be careful not to have too much expectations. Put in mind too there’s possibility it may not come as expected and you could lose your investment.

Profit is not guaranteed, so the focus should be on accumulating within your means, so you don’t put too much pressure on yourself while building portfolio over time. If Bitcoin(maybe) performs well again in the future, you will surely be in a better position than those that gambled away their bitcoin chasing short term profits.

Bitcoin has now become a store of value, so due to its huge size, Bitcoin is not able to give hundreds of times the profit it used to. Therefore, we should not have high expectations from Bitcoin based on the previous market, but rather expect that your money is protected from inflation and you will get some profit from long-term investment, which of course you can expect to be higher than bank interest.

Profit from Bitcoin investment is not guaranteed, but if you are successful in long-term investment, the probability of profit is high, which is like a kind of guarantee. Losing funds is a different matter, but the probability of the market harming you is very low. The risk of hacks or fraud or scams is higher in Bitcoin than the risk related to the market. In short-term investments, market volatility can cause you to lose money or unexpected sales can harm you. If you are successful in the long term in your goals, the probability of loss is very low, which is almost non-existent.

[JayJuanGee]

[edited out]

..... they can only be made to know that before going into investment in Bitcoin that nothing is guaranteed which is why I feel it’s important to get some basic knowledge and understanding about bitcoin before getting started.

Get the fuck out of here.

What are the pieces of supposed ba sic knowledge that bitcoin newbies need to acquire before getting started, especially once they have figured out that they have discretionary funds?

It seems that this vague and misleading idea of supposed "basic knowledge" that bitcoin beginners are supposedly in need of getting is repeated so often that guys might not even realize that they are engaged in such ongoing patronizing nonsense.

You, Alonso_, presume that you are more insightful than some other potentially newbie bitcoiner merely because you have been registered on this forum for slightly more than a year?  For some reason, you think that you know something that potential newbie bitcoiners need to know before they can get started buying bitcoin?

I think that you (and other guys making similar vague and misleading proclamations about supposed basic knowledge that they believe bitcoin newbies need) are full of shit, and just making things up in order to try to sound smart about some supposed mystery information that bitcoin newbies need to acquire before they can get started based on their own judgement.

[edited out]

....Buying consistently and persistently with DCA till you have reach an over accumulation stage should be the focus before thinking of profit.

And?  What is your definition of "overaccumulation stage?"

How is a guy going to know when he reached it or not?

Might there be some other stage that would be good enough or do you have some bright line that guys are going to know when they reach it?

The objective is profitable, but the amount of profit will be satisfactory if it is achieved by completing a complete process or completing a full cycle.

I don't think that after a full cycle an investor will get a good profit, because his bitcoin portfolio hasn't reached a significant size and I don't see four years as a long term investment for someone below 50 years. This is because the longer you are in the accumulation game the better for you. You still have enough time to stretch your bitcoin accumulation time frame to ten years or more in order for you to be able to grow a significant bitcoin stash for the future. Don't forget that the longer, you hodli, the more your bitcoin portfolio keep compounding in value for a better profit.

The logic of holding for a long time often teaches me a lot in investing. In the case of long-term investment, the investor has the opportunity to gradually increase the amount of Bitcoin without relying entirely on the price of one day. But if you hold it for a long time, assuming that the market price of that amount will increase on its own, it seems to be the same as the guarantee of profit.

Even if an investor buys Bitcoin regularly for ten years, his total result will depend on what price he bought it at and where the market price of Bitcoin will stand in the future.

Even if you might be making a potentially fair point that seems to presume that the bitcoin price is ongoingly going higher, at the same time, your statement remains somewhat ambiguous in its implications that guys are going to have much, if any, ability to control the price that they had accumulated their bitcoin, when largely they would not have very much control over their average cost per BTC, since at any given time during their BTC accumulation, they likely would have had little to no ability to know if the BTC price was going to be going up, down or sideways, so in that regard, over the years of their bitcoin accumulation, they would have had largely been buying BTC at whatever the price happened to be at the time that their money came available for the buying of bitcoin. 

Your proclamation that suggests abilities to control average BTC purchase price comes off as arrogant, at best, when the BTC accumulator likely had very little control over the BTC price, even though he did have control over his own chosen level of whimpiness or aggressiveness within the confines of his budget.

Of course, a long time can give him the opportunity to buy more. But it does not add a fixed rate of profit every year. So in my opinion, which is suitable between 4-10 years or more should be considered not only by age, but also when the money may be needed and whether he has the ability to maintain the plan if the price drops.

These assertions are also vague.  What do you believe that the bitcoin accumulator is going to do once he reaches his investment timeline?  From your perspective, the bitcoin accumulator is going to sell all his bitcoin once he reaches his timeline because he "needs it?"

Bitcoin has rewarded investors that held in the past, but we still have to be careful not to have too much expectations. Put in mind too there’s possibility it may not come as expected and you could lose your investment.

Profit is not guaranteed, so the focus should be on accumulating within your means, so you don’t put too much pressure on yourself while building portfolio over time. If Bitcoin(maybe) performs well again in the future, you will surely be in a better position than those that gambled away their bitcoin chasing short term profits.

Bitcoin has now become a store of value, so due to its huge size, Bitcoin is not able to give hundreds of times the profit it used to.

When did bitcoin suddenly become a store of value?  Someone told you about that?  Bitcoin had not been a store of value since the beginning, or someone had to proclaim it to be a "store of value"?

Therefore, we should not have high expectations from Bitcoin based on the previous market, but rather expect that your money is protected from inflation and you will get some profit from long-term investment, which of course you can expect to be higher than bank interest.

Profit from Bitcoin investment is not guaranteed, but if you are successful in long-term investment, the probability of profit is high, which is like a kind of guarantee.

You make close to zero sense.  Largely what you seem to be proclaiming is:  "Even though bitcoin is not guaranteed, it is guaranteed."  How ridiculous is that proclamation?

Losing funds is a different matter, but the probability of the market harming you is very low.

More deep insight from @Jewan420. You seem to be saying:  "The bitcoin market could hurt you, but it won't."  hahahahaha... How dumb.

The risk of hacks or fraud or scams is higher in Bitcoin than the risk related to the market.
 

This statement is about as clear as mud with your suggestion  (or is it a proclamation?) that bitcoin has more hacks, frauds, scams than  other aspects of "the market" to the extent that you are not just making shit up, which seems quite likely.

In short-term investments, market volatility can cause you to lose money or unexpected sales can harm you.

Some of us consider short term investing as trading, yet maybe whether you are further muddying the waters might depend upon what your own definition of "short-term" might be?  Does "short-term" have an actual timeline or are you just leaving the idea open to interpretation?

If you are successful in the long term in your goals, the probability of loss is very low, which is almost non-existent.

Yes.  Back to your idea of guaranteed profits.. and perhaps guarantees of "no losses" too, right?

You should write a book about all of your areas of high level "wisdom."  You just have to flesh out some of your ideas a bit better in order to have separate chapters for each of your break through perspectives about bitcoin and related topics.

[Livingleged]

[edited out]

..... they can only be made to know that before going into investment in Bitcoin that nothing is guaranteed which is why I feel it’s important to get some basic knowledge and understanding about bitcoin before getting started.

Get the fuck out of here.

What are the pieces of supposed ba sic knowledge that bitcoin newbies need to acquire before getting started, especially once they have figured out that they have discretionary funds?

It seems that this vague and misleading idea of supposed "basic knowledge" that bitcoin beginners are supposedly in need of getting is repeated so often that guys might not even realize that they are engaged in such ongoing patronizing nonsense.

You, Alonso_, presume that you are more insightful than some other potentially newbie bitcoiner merely because you have been registered on this forum for slightly more than a year?  For some reason, you think that you know something that potential newbie bitcoiners need to know before they can get started buying bitcoin?

I think that you (and other guys making similar vague and misleading proclamations about supposed basic knowledge that they believe bitcoin newbies need) are full of shit, and just making things up in order to try to sound smart about some supposed mystery information that bitcoin newbies need to acquire before they can get started based on their own judgement.

I think the problem is that “basic knowledge” is often used without actually explaining what knowledge is supposed to be necessary before a newbie can get started. To me if someone has discretionary fund and wants to buy a small amount of bitcoin, they do not need to understand every technical or economical aspect of bitcoin before making that decision.

Of course, there are some things that are worth understanding, such as volatility, custody, private keys and the risk for losing funds. All this can be understood better while they have made their purchase actually. But suggesting that there is a mysterious level of basic knowledge that every beginner must acquire first is totally wrong and a dumb idea.

I just think that the better approach is to be specific about what a beginner actually need to understand instead of saying they need “ basic knowledge”, there is no fixed amount of bitcoin knowledge that someone must acquire before buying their first bitcoin, this is one thing I’ve learnt from this thread over the years. A beginner can just start small and learn more as they go.

[SPIDERMAN008]

I think the problem is that “basic knowledge” is often used without actually explaining what knowledge is supposed to be necessary before a newbie can get started. To me if someone has discretionary fund and wants to buy a small amount of bitcoin, they do not need to understand every technical or economical aspect of bitcoin before making that decision.

Of course, there are some things that are worth understanding, such as volatility, custody, private keys and the risk for losing funds. All this can be understood better while they have made their purchase actually. But suggesting that there is a mysterious level of basic knowledge that every beginner must acquire first is totally wrong and a dumb idea.

I just think that the better approach is to be specific about what a beginner actually need to understand instead of saying they need “ basic knowledge”, there is no fixed amount of bitcoin knowledge that someone must acquire before buying their first bitcoin, this is one thing I’ve learnt from this thread over the years. A beginner can just start small and learn more as they go.

It is true that the basic knowledge should be clearly stated. The fundamental knowledge required for investment is different from the basic knowledge required for learning about Bitcoin. A new investor should have an idea of ​​the things they should know at the beginning to invest. There is no need to waste time acquiring deep knowledge. For me, the minimum requirement of knowledge for a newbie is that he should understand the basic consequences of his actions. He should have discretionary income and have some idea about his financial management. And of course, small purchases often make the learning process faster.

You can read articles about Bitcoin and get theoretical knowledge about wallets, but when you invest your $30 in Bitcoin, you will be responsible and how much you can control your emotions and the habit of accumulation will be created, which you will never understand if you do not start Bitcoin. You will learn before and after you accumulation starting , and after long time you may know more and your understanding of investing will increase a lot. It will be easier for you to hold for the long term, which will give you financial strength and security in the future.

[Tmoonz]

If someone expects a bull market to happen and they suddenly start to become overly aggressive with their buying, that means that they arr letting a prediction override their actual financial situation.

In no condition should a long term bitcoin investor invest over aggressively whether there is a dip or not because he is only gambling and not investing. This is because over aggressive buying means using above your discretionary income to invest and when your needs arises, you will sell at loss especially, if the price of bitcoin is below your entry point.

Aggressive buying is good but you have to do it based on your own financial scenario playing around you at that moment to avoid overdoing it. Also you don't buy aggressive based on bitcoin price but based on your pocket.

Investing overly aggressive is indeed a financial and investment mistake that can hurt more than it looks, it can appear to be a smart move only for you to end up realizing that you have made a terrible mistake, the discussion of not being over aggressive in your Bitcoin long term investment, in expecting a bull market, in a bull market, or during the market dip can not be over emphasized, because it has a great impact when considering a good long term investment approach. When you invest above your discretionary income, there is already a default in the system because there is going to be an attempt of selling either in lost or in profits when you are still supposed to be holding and adding more values not selling.

[JayJuanGee]

[edited out]

I think the problem is that “basic knowledge” is often used without actually explaining what knowledge is supposed to be necessary before a newbie can get started. To me if someone has discretionary fund and wants to buy a small amount of bitcoin, they do not need to understand every technical or economical aspect of bitcoin before making that decision.

Huh?  Why would they need to buy a "small amount"?

Why can't they buy however the fuck amount they want to buy, so long as the amount that they are buying is within the amount of their discretionary funds. Why would they have to limit themselves to a small amount, especially if they are exercising their own judgement regarding both whether to buy and how much to buy?

Of course, there are some things that are worth understanding, such as volatility, custody, private keys and the risk for losing funds.

Huh?  Why do any of those need to be known prior to getting started? If a guy (presumptively an adult and not a baby) has discretionary funds, then doesn't he have full discretion in determining whether and/or how to spend such discretionary funds, or are we going to treat him as if he were a baby (or retarded)?  From my perspective, that comes off as patronizing to treat any other person that way merely based on his being a "bitcoin newbie."  You want to presume that the guy has no already existing knowledge, skills and/or experience to make his own determination based on what he knows or does not know.  Sure we know that he has calculated that he has discretionary funds, but you want to presume he is otherwise retarded?

All this can be understood better while they have made their purchase actually.

What?  Now you are changing your mind about what the bitcoin newbie needs to know and when they need to know it?

But suggesting that there is a mysterious level of basic knowledge that every beginner must acquire first is totally wrong and a dumb idea.

It seems to me that you are flip flopping on this topic of how much the bitcoin newbie needs to know in order to get started buying bitcoin.

I just think that the better approach is to be specific about what a beginner actually need to understand instead of saying they need “ basic knowledge”,

Being specific is not going to help if you are wrong about the specifics and you are imposing your own judgements on others and presuming that they don't know anything merely because they are a bitcoin newbie.

there is no fixed amount of bitcoin knowledge that someone must acquire before buying their first bitcoin, this is one thing I’ve learnt from this thread over the years. A beginner can just start small and learn more as they go.

There is nothing wrong with starting small, even though that is a judgement of the beginner to decide and not for us to impose those requirements on them.

If someone expects a bull market to happen and they suddenly start to become overly aggressive with their buying, that means that they arr letting a prediction override their actual financial situation.

In no condition should a long term bitcoin investor invest over aggressively whether there is a dip or not because he is only gambling and not investing. This is because over aggressive buying means using above your discretionary income to invest and when your needs arises, you will sell at loss especially, if the price of bitcoin is below your entry point.

Aggressive buying is good but you have to do it based on your own financial scenario playing around you at that moment to avoid overdoing it. Also you don't buy aggressive based on bitcoin price but based on your pocket.

Investing overly aggressive is indeed a financial and investment mistake that can hurt more than it looks, it can appear to be a smart move only for you to end up realizing that you have made a terrible mistake,

huh? you seem to be mixing overaggressive with aggressive.

yes, it is possible that some guys might invest aggressively in bitcoin without realizing that they are actually investing overly aggressive, so then that would be a mistake to believe that you are investing aggressively, but then come to realize that you had accidentally been investing overaggressively.

On the other hand, it seems quite dumb if a person were to go into bitcoin and to know that he is investing overlyaggressively, since by definition investing overlyaggressive would be either investing high portions of discretionary funds, or investing beyond discretionary funds and/or failing refusing to create and/or maintain adequate back up funds.

Since we are talking about bitcoin investing in this thread, I doubt that we should presume that guys are gambling with their bitcoin investment and/or through the ways that they are building and/or managing their cashflows, since by definition engaging in overaggressive behaviors (in purpose) would, by definition, not be investing.

the discussion of not being over aggressive in your Bitcoin long term investment, in expecting a bull market, in a bull market, or during the market dip can not be over emphasized, because it has a great impact when considering a good long term investment approach. When you invest above your discretionary income, there is already a default in the system because there is going to be an attempt of selling either in lost or in profits when you are still supposed to be holding and adding more values not selling.

I think that you @Tmoonz are failing/refusing to sufficiently distinguish aggressive bitcoin investment with overaggressive bitcoin investment and introducing way more confusion into this discussion than necessary.

[Emjay24]

If an investors want to increase the size of their discretionary income, they need to increase their hustlings or work multiple jobs to increase their incomes since their discretionary income is figure out from their incomes, but if they have yet to secure additional jobs, they should just manage whatever discretionary income that they can figure out at the moment instead of buying beyond their means.

You don't really need to work multiple jobs to increase your income, you could be intentional about increasing your competence in your area of specialization, upgrade your skills and take advantage of better offers.

You could also find a way around your finances to decrease expenses so you can have more discretionary income available. The truth is that most people are wasteful and don't plan their finances adequately. A lot of guys would be amazed at how much they could save from what previously went into expenses if they could sit down and plan their finances properly as the paycheck arrives. The extra saved money from decrease in expenses can be put towards increasing your aggressiveness in your DCA buys.