Bitcoin Forum
May 27, 2024, 11:05:52 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 [3]  All
  Print  
Author Topic: What I have learned so Far  (Read 598 times)
worle1bm
Full Member
***
Offline Offline

Activity: 1834
Merit: 166



View Profile
April 22, 2022, 04:48:12 AM
 #41

That's right, much can be learned here as written above. that's why this forum is suitable for all circles from beginners to high accounts because it's useful for exchanging ideas and sharing experiences and knowledge. learning theory is important but we also need practice so that we can experience the ups and downs in the crypto world and through this forum at least we have an overview of the crypto world through discussions and responses from members here according to their respective experiences. what is certain is that if we can use and utilize this forum properly then it will be profitable.
There are so many things to learn about this crypto market like you can have technical as well as non technical knowledge of the market and this forum is best place to acquire both of them as it has abundant resources and guide which one can explore through to boost his knowledge.As a community there are active high rank and even low rank members who have knowledge will guide you in the right way to sail through this journey and if you are willing to you can learn lot.

███████ ███████        R O L L B I T               CRYPTO'S MOST INNOVATIVE CASINO               [ PLAY NOW ]        ███████ ███████
//     WHITEPAPER     //          R L B          //     RLB LOTTERY     //
███████ ███████      |       Twitter       |        ►   S P O R T S B O O K   |   [ N E W ]  C L A N S   ◄        |      Discord      |      ███████ ███████
dlightag
Member
**
Offline Offline

Activity: 517
Merit: 12


View Profile
April 23, 2022, 04:32:36 PM
 #42

I love this forum, is a place where you learn many things, mostly here in crypto space, which i learn that Bitcoin is the king of all coins. and also learn that bitcoin is a digital asset that acceptable for company or individual as a means of payment. I also learn that, these forum has many things to do and get paid. 
JayJuanGee
Legendary
*
Offline Offline

Activity: 3724
Merit: 10329


Self-Custody is a right. Say no to"Non-custodial"


View Profile
April 23, 2022, 10:13:25 PM
 #43

I love this forum, is a place where you learn many things, mostly here in crypto space, which i learn that Bitcoin is the king of all coins. and also learn that bitcoin is a digital asset that acceptable for company or individual as a means of payment. I also learn that, these forum has many things to do and get paid. 

Those are not some bad ideas.. at least in a general sense, and you are pretty new still even though you have been registered here for over a year.  Part of the reason for your seeming newbie-ness is that you have ONLY made 19 posts in the past year.

Sure, no problem with reading before posting; however, it is going to be quite difficult for other members to get to know you if you have ONLY a few posts and many of them seem to be merely seeking ways to make money on the forum...

And nothing wrong with wanting to make money, either.. .. and surely some of us don't really use the forum in that kind of a way, so we may well have some difficulties relating to members who seem to be overly focused on that angle... at least that is my sense of the matter, and for sure, members come to the forum and participate in varying ways, too.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
Nerdy doctor
Full Member
***
Offline Offline

Activity: 281
Merit: 107



View Profile
April 24, 2022, 11:14:16 AM
 #44

It's great to read through your points on what the forum had taught you so far.
There are still lots of information to be gotten from the forum. I'm still a newbie myself and still learning, researching and verifying information for myself and have come to know lots about bitcoin.
The forum has been educative and informative on btc as well as other alt coins.
Learning is a continuous process and we all learn new things all the time. Seek and you would find loads of information that the forum has to offer. I would also stress the urgency to verify any information

Alisha-k
Member
**
Offline Offline

Activity: 840
Merit: 23


View Profile
April 24, 2022, 02:39:50 PM
 #45

This is what makes the forum unique in its own real sense. Plagiarism is one key aspect the forum strongly kicks against because it points to theft and false claim of article publication. One thing the forum has been able to establish so far is study diligence,value relevance and most especially knowledge competence

center]██                      ►          ⦁               1xBit.com     │     S p o r t s b o o k   &   C a s i n o               ⦁          ◀                      ██
                  WELCOME BONUS UP TO 7 BTC!                  ♣
██  ██████████████          ■                   30+ ALTCOINS AVAILABLE                   ■          ██████████████  ██[/center]
Agbe (OP)
Hero Member
*****
Offline Offline

Activity: 896
Merit: 1269


Vave.com - Crypto Casino


View Profile
May 07, 2022, 06:43:38 AM
Last edit: May 07, 2022, 08:36:40 PM by Agbe
Merited by JayJuanGee (1)
 #46

When I first create this thread users criticize me by not include bitcoin or Crypto Currency to my list. Really as for then I was novice on bitcoin, nothing to talk about but was having very small knowledge so I thought within me instead of including bitcoin which I was not conversant with, I excluded it. Because I am not here to lie. But most people write what they do not know or have an idea. That is against my principles. I like people that are strict because I am a strict person. Yes. All the things I mentioned in the list. I learnt them within the short period of time I entered the forum. But I can not learn BITCOIN or Crypto Currency in a very short period of time, those are bogus TOPICS to deal with.

Even today I am not conversant with the process but to some extent I can trade with BITCOIN  and other Crypto Currencies the aspect I am having difficulty is the TIME. WHEN TO ENTER  (START ) THE TRADE AND WHEN TO STOP (CLOSE) THE TRADE. Therefore, I am very happy to be in this forum. Thanks all the users that help me to this extend.

Bhig Daddy
Member
**
Offline Offline

Activity: 364
Merit: 13


View Profile
May 07, 2022, 09:00:31 AM
 #47

I have learned a few too on this forum, when it comes to punctuation this forum have improved me alot on that aspect. Secondly, this forum have thought me alot about bitcoin as a whole, because before this forum I have ways seen bitcoin as scam, I have learnt alot that I can't talk about on this page.
JayJuanGee
Legendary
*
Offline Offline

Activity: 3724
Merit: 10329


Self-Custody is a right. Say no to"Non-custodial"


View Profile
May 07, 2022, 05:43:56 PM
Merited by DdmrDdmr (3)
 #48

When I first create this thread users criticize me by not include bitcoin or Crypto Currency to my list. Really as for then I was novice on bitcoin, nothing to talk about but was have very smay knowledge so I thought within me instead of including bitcoin which I was not conversant with, I excluded it. Because I am not here to lie. But most write what they do not know or have an idea. That is against my principles. I like people that are strict because I am a strict person. Yes. All the things I mentioned in the list. I learnt them within the short period of time I entered the forum. But I can not learn BITCOIN or Crypto Currency in a very short period of time, those are bogus TOPICS to deal with.

Even today I am not conversant with the process but to some extent I can trade with BITCOIN  and other Crypto Currencies the aspect I am having difficulty is the TIME. WHEN TO ENTER  (START ) THE TRADE AND WHEN TO STOP (CLOSE) THE TRADE. Therefore, I am very happy to be in this forum. Thanks all the users that help me to this extend.

If you are having some difficulties learning too many things at once (especially in the area of bitcoin and cryptocurrencies), I would personally recommend to focus on learning bitcoin first.  Once you understand bitcoin then the others will be easier to learn (that is if you are still interested in that mostly scam crap).

Regarding trading. .be careful.. there is really no need to do it, until maybe you establish a position first, but yeah, so many people think that they can get rich by getting involved in trading and all kinds of bullshit, when the fact of the matter is that it is going to be likely way better just to figure out your own situation and establish a bitcoin investing practice (and learning) that allows you to slowly build up your bitcoin position through many years and continue to try to learn as you go.. so maybe you can only afford to buy $10 per bitcoin per week, or maybe you want to be more aggressive and buy $100 per week... 

If your investment timeline is 4-10 years or longer, then you start with whatever is the most manageable (and maybe you can ONLY do $10 per week) and that you just continue to build .. and with the passage of time, maybe finances improve and/or your knowledge about bitcoin (and other cryptos - aka shitcoins) improve, and then you can adapt as you go while attempting to take a somewhat conservative approach in order that you are not investing more than you can afford.. because you surely need to be able to continue to pay your monthly expenses and even to make sure that you have some kind of an emergency fund so that you never have to dip into your bitcoin except at a time that is of your own choosing, which I would suggest should not be for less than 4 years but more likely 10 years or more.. depending on how well you are able to build with time.

For sure, some threads are better than others in the forum in terms of providing learning, and also if English is not your first language, then I understand it can take even longer to sort through the better information and the better threads as contrasted with the information that is not as good... also if you are able to learn from the writing style of some members better than the writing style of other members, then that can be helpful to you, too... including that if you keep practicing and you are continuing to try to learn, you will likely continue to improve with the passage of time, too.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
Z-tight
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1045


Only BTC


View Profile
May 07, 2022, 06:30:09 PM
 #49

then you start with whatever is the most manageable (and maybe you can ONLY do $10 per week)
Is $10 a week not too small to be able to build up your bitcoin position, even after many years. If you use dollar cost averaging and you are investing $10 a week, that will be $40 dollars a month, and $480 dollars per year, how long would it then take to set up a profitable Bitcoin position, should finances not improve and one is still stuck with $480 per year.

.
.BLACKJACK ♠ FUN.
█████████
██████████████
████████████
█████████████████
████████████████▄▄
░█████████████▀░▀▀
██████████████████
░██████████████
████████████████
░██████████████
████████████
███████████████░██
██████████
CRYPTO CASINO &
SPORTS BETTING
▄▄███████▄▄
▄███████████████▄
███████████████████
█████████████████████
███████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
███████████████████████
█████████████████████
███████████████████
▀███████████████▀
█████████
.
JayJuanGee
Legendary
*
Offline Offline

Activity: 3724
Merit: 10329


Self-Custody is a right. Say no to"Non-custodial"


View Profile
May 07, 2022, 07:14:31 PM
Merited by DdmrDdmr (3), Coin-1 (1)
 #50

then you start with whatever is the most manageable (and maybe you can ONLY do $10 per week)
Is $10 a week not too small to be able to build up your bitcoin position, even after many years.

I am a little worried about derailing this topic too much, but I do believe that if there is some difficulties in knowing how to focus - and getting overwhelmed with various cryptos.. it is better to figure out bitcoin first, and don't buy into the bullshit proclamations that bitcoin is no good, blah blah blah.

Yeah of course, there is no guarantee about bitcoin's success in the long term, but it remains the strongest of any to resist various kinds of attacks, and so therefore, there remains strong foundational reasons to start with bitcoin first, and as you learn, then maybe consider other possible "cryptos".. but sometimes guys do not have a strong enough budget to be dividing up their value so they should be focusing in bitcoin first until they get a grasp on their knowledge and their finances.

I mention $10 a week as a kind of bare minimum because I do not want to be too presumptuous about the finances of anyone, and I understand that some people might have troubles even garnering up $10 per week, and of course, someone living in the west should easily be able to do $100 or more per week without any major issue.

Another reason that I mention a seemingly relatively small amount as a starting point, because one of the main things that any investor should do is to make sure that they got their shit together in terms of having their finances under wraps.. which of course, involves the considerations  of making sure that expenses are covered and an emergency fund is covered.. and if someone is investing for many years, they have to have their cashflow figured out in terms of possibly even projecting out several months or even years in advance in order to have a better grasp on money coming in and various expenses that will likely come due at various points along the way.
 
I am suggesting to start out with focusing on bitcoin to take away some of the variables, and maybe when a guy gets up to $10k or even $50k invested into bitcoin, then he might start to want to branch out into other kinds of investments, but yeah, if a guy is ONLY investing $10 per week, then it could take a few years just to get up to $1k or even $5k of value in his investing, so in that sense he might consider whether it would be worth it to branch out into other investments or not.

So besides cashflow, any beginner investor should be considering his other investments, view of bitcoin as compared with other investments, timeline, risk tolerance and time, skills and abilities to learn and to tweak along the way including whether to reallocate from time to time or trade or use financial instruments.  In other words, it is better to focus on the basics first before getting into trading or the use of financial instruments.. and once the basics are more solid, then there might develop more abilities to start to employ some of those other tools/practices.

In my thinking another reason to start out with $10 per week is to not overextend oneself and to get started with something rather than nothing.  Of course, some guys might have more capital from the start so they can also consider lump sum investing and also buying on dips, but the most basic and best beginner strategy is to start with a set amount each week that could be adjusted along the way.. or even supplement with those other strategies while keeping the basic amount in place no matter the price buy $10 per week (or whatever other amount that might have been decided upon).



If you use dollar cost averaging and you are investing $10 a week, that will be $40 dollars a month, and $480 dollars per year, how long would it then take to set up a profitable Bitcoin position, should finances not improve and one is still stuck with $480 per year.

Sure, the amounts do not seem to be very much, and of course, the more aggressive amounts are likely going to pay off better, so if you invest $100 per week rather than $10, then you end up getting 10x the amount.. but you definitely need to be able to handle that level of budget without overly stressing your finances and then if you over stress your finances, you end up having to sell at a time that is not of your own choosing because you do not have your shit together with the rest of your budget.

So the more the amount put in per week and the longer the timeline tend to build up better amounts, and in the linked website, you can adjust the amounts and the timeline in order to see some of the historical results (which does not guarantee future performance but still gives some ideas regarding how even low amounts can pay off with a long enough time investing), and yeah $10 per week over the past 4 years might only result in $8,665 based on a $2,090 investment, and if the average amount is higher, then the results will be higher too in terms of the substantive amounts -  even though the percentage of return should be close to the same - absent some ups and downs in the amounts invested or even various times that lump sum investing might take place along the way.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
Agbe (OP)
Hero Member
*****
Offline Offline

Activity: 896
Merit: 1269


Vave.com - Crypto Casino


View Profile
May 07, 2022, 09:17:14 PM
 #51

If you are having some difficulties learning too many things at once (especially in the area of bitcoin and cryptocurrencies), I would personally recommend to focus on learning bitcoin first.  Once you understand bitcoin then the others will be easier to learn (that is if you are still interested in that mostly scam crap).

Regarding trading. .be careful.. there is really no need to do it, until maybe you establish a position first, but yeah, so many people think that they can get rich by getting involved in trading and all kinds of bullshit, when the fact of the matter is that it is going to be likely way better just to figure out your own situation and establish a bitcoin investing practice (and learning) that allows you to slowly build up your bitcoin position through many years and continue to try to learn as you go.. so maybe you can only afford to buy $10 per bitcoin per week, or maybe you want to be more aggressive and buy $100 per week... 

If your investment timeline is 4-10 years or longer, then you start with whatever is the most manageable (and maybe you can ONLY do $10 per week) and that you just continue to build .. and with the passage of time, maybe finances improve and/or your knowledge about bitcoin (and other cryptos - aka shitcoins) improve, and then you can adapt as you go while attempting to take a somewhat conservative approach in order that you are not investing more than you can afford.. because you surely need to be able to continue to pay your monthly expenses and even to make sure that you have some kind of an emergency fund so that you never have to dip into your bitcoin except at a time that is of your own choosing, which I would suggest should not be for less than 4 years but more likely 10 years or more.. depending on how well you are able to build with time.

For sure, some threads are better than others in the forum in terms of providing learning, and also if English is not your first language, then I understand it can take even longer to sort through the better information and the better threads as contrasted with the information that is not as good... also if you are able to learn from the writing style of some members better than the writing style of other members, then that can be helpful to you, too... including that if you keep practicing and you are continuing to try to learn, you will likely continue to improve with the passage of time, too.

This is an Epic of knowledge. I do not know how to start and where to start. It is only the Almighty God will bless you with this deposit of knowledge, encouragement and brotherly advise.

JayJuanGee
Legendary
*
Offline Offline

Activity: 3724
Merit: 10329


Self-Custody is a right. Say no to"Non-custodial"


View Profile
May 07, 2022, 11:25:22 PM
Merited by DdmrDdmr (6)
 #52

[edited out]
This is an Epic of knowledge. I do not know how to start and where to start. It is only the Almighty God will bless you with this deposit of knowledge, encouragement and brotherly advise.

Start with one step at a time (like Dorothy in the Wizard of Oz.. hahahaha.. I couldn't resist), which may well mean figuring out your budget.. .and figuring out a way to dedicate a certain amount of your cashflow to buying BTC no matter what.. and then you can kind of forget about that money that you had already put into BTC.. whether that ends up being $10 per week, or if you can ONLY accomplish $5 per week.

When I was younger I would just plot out my budget on paper (computers were not as common).. but then at some point in the 90s, I started using various computer programs and then I started to plot out my budget and my cashflow projection using an Excel spreadsheet, and I would plot out 6 months in advance, but with the passage of time and as my finances got more complex and I had more things going on, I found it better to plot out for 24 months rather than 6 months... and of course, the first 3-6 months of any projection are the most important to make sure that you have money to cover everything whether it is cashflow coming in and/or extra expected expenses... and if your cashflow is not very certain each month, then you might list the more certain amounts that you expect to come to you, and if extra ends up coming in for any particular period, then that would be a good problem to have and you would have extra to spend for that period... but I do tend to recommend to project conservatively because it is better to have extra cashflow coming in rather than extra expenses, even though your system should be able to deal with either direction and even to have a sufficient cushion (whether $500 or $1k or some other reasonable amount) that allows you to easily adapt to any small amount, and then if there is an emergency or something like that, then you may well have other funds that might be available somewhere else if you need to dip into those funds (which should not be your BTC.. unless you are going to die or something very severe).

Once you plot everything out, then you can see how much might be the bare minimum that you are going to be able to devote towards dollar cost average buying into BTC every week and you might also have a cushion amount in there, but don't feel stressed that you have to invest more into BTC at any given time (even if you have extra cashflow), so long as you at least meet your minimum weekly amounts that you have established for yourself, and of course, you can adjust your amounts and your overall projections from time to time to account for evolving circumstances including if your finances get better or worse, but hopefully, if you have decently strong beliefs about the long-term fundamentals of bitcoin, then you can just continue to invest small amounts on a regular basis and as the amounts of your BTC investment portfolio gets BIGGER (hopefully), you may well learn that you will need to take greater measures to protect those BTC and to set them aside (even if you only get to 0.1BTC over several years).. and you can learn many of the details of the matters about what you are going to do and how you are going to do them as you are investing into BTC over the years without having to feel that you have to learn everything right away.

Bitcoin can take a real long time to learn, and we have some people who have been in bitcoin for as long as me or longer (I am about 8.5 years into bitcoin) and still seem to struggle with basic bitcoin knowledge because some of them don't establish solid attempts to focus on learning about BTC and getting their own systems solid in terms of just ongoingly accumulating BTC (even if just relatively small amounts).

Remember that there are a lot of folks who work all of their lives from the time that they are in their teens until they are in their 60s, 70s and sometimes even later in their lives, and many of them do not accumulate enough wealth to actually be comfortable and to have options, including the option to stop working and to live off of their investments.  Some of them might actually have some success to achieve such after 30 years or more, and I am not even blaming any of those failures to achieve financial (pschological) independence for not being able to accomplish some of the investment successes because there are quite a few obstacles stacked against a lot of folks, even if they do most if not all of the right things in their lives (including but not limited to saving/investing money).

Seems to me that bitcoin is providing potential opportunities that might not have been so easily available to regular normies and even to poor people to be able to have access towards getting richie tools.. and of course, access to bitcoin does not guaranteed that you will get richie.. but you have better chances with bitcoin and also better chances if you attempt to be prudent, reasonable and maybe slightly aggressive without becoming so aggressive that you are either gambling or putting your principle at risk.. so in some sense, you need to always be attempting to guard and build your principle and if you engage in any kinds of gambling or risky actions, you are not putting large portions of your principle at risk... merely because you want to become richie faster or whatever.

Some folks want to cause you to believe that you can short-cut and get richie more quickly, and for sure it is better not to be trying to play those games, especially not with large portions of your principle.

With bitcoin, depending on your age, you may well have some abilities to achieve what had not really been easily achievable previously and also you may well be able to accomplish such in a shorter amount of time.. so instead of 30 years or more, maybe you will be able to do it a lot quicker, and even if you do not get to a point that you can quit your job really early (such as within 10 years or when you are relatively young), you still will have decent chances of improving your odds and also increasing your options... even with something like $10 per week into bitcoin.. and of course, if you can do more that would be helpful, but it would be worse if you are putting in too much that you are not keeping the rest of your life (finances and psychology) in order.

Once you establish your budget.. then you have to figure out where and how to source your bitcoins.. whether you can sign up for some kind of service that might be available in your country.. or whether you have to figure out some resources through meet ups, and hopefully there is some kind of way that you can get coins in your area..  I am not really sure about al of the possibilities, and surely sometimes there are fees involved that might motivate how you are making your purchases of BTC, so in that regard, you might have to pool your fiat and to buy less frequently and in larger amounts.. but even if you might have some trouble finding options in the beginning, you might learn of more options as you go and perhaps more options might come available to you with the passage of time.. maybe?  maybe?

The beginning can be more difficult to get things set up, to get your systems into place, perhaps even the profitability of your BTC might not be very positive in the beginning, and then to keep learning along the way too, but the whole process should get easier and continue to build upon itself and you are likely to make various mistakes along the way too.. and for sure, you would want to strive to learn from your mistakes but sometimes, there is a need to also take action without necessarily trying to achieve perfection - because there has continued to be a certain amount of advantage in bitcoin in terms of getting all your systems set up and to get started.  After you are started, then some changes and tweaks or even strategizing to buy on dips might become more clear, but in the beginning just establishing some regular buy amount is good.. and with the passage of time, you will be in a better position to even better identify what you believe to be a dip or not and whether you believe it is an actionable dip.. or if it just remains best to just continue to follow the regular system that you have established for yourself and you have determined (and hopefully tailored) for yourself and your situation (psychological and financial).

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
Zlantann
Legendary
*
Offline Offline

Activity: 868
Merit: 1016



View Profile
May 08, 2022, 08:21:36 AM
 #53

Quote from: JayJuanGee link=topic=5389661.msg60071795#msg60071795 date=1651945436
Start with one step at a time [size=5pt
(like Dorothy in the Wizard of Oz.. hahahaha.. I couldn't resist)[/size], which may well mean figuring out your budget.. .and figuring out a way to dedicate a certain amount of your cashflow to buying BTC no matter what.. and then you can kind of forget about that money that you had already put into BTC.. whether that ends up being $10 per week, or if you can ONLY accomplish $5 per week.

When I was younger I would just plot out my budget on paper (computers were not as common).. but then at some point in the 90s, I started using various computer programs and then I started to plot out my budget and my cashflow projection using an Excel spreadsheet, and I would plot out 6 months in advance, but with the passage of time and as my finances got more complex and I had more things going on, I found it better to plot out for 24 months rather than 6 months... and of course, the first 3-6 months of any projection are the most important to make sure that you have money to cover everything whether it is cashflow coming in and/or extra expected expenses... and if your cashflow is not very certain each month, then you might list the more certain amounts that you expect to come to you, and if extra ends up coming in for any particular period, then that would be a good problem to have and you would have extra to spend for that period... but I do tend to recommend to project conservatively because it is better to have extra cashflow coming in rather than extra expenses, even though your system should be able to deal with either direction and even to have a sufficient cushion (whether $500 or $1k or some other reasonable amount) that allows you to easily adapt to any small amount, and then if there is an emergency or something like that, then you may well have other funds that might be available somewhere else if you need to dip into those funds (which should not be your BTC.. unless you are going to die or something very severe).

Once you plot everything out, then you can see how much might be the bare minimum that you are going to be able to devote towards dollar cost average buying into BTC every week and you might also have a cushion amount in there, but don't feel stressed that you have to invest more into BTC at any given time (even if you have extra cashflow), so long as you at least meet your minimum weekly amounts that you have established for yourself, and of course, you can adjust your amounts and your overall projections from time to time to account for evolving circumstances including if your finances get better or worse, but hopefully, if you have decently strong beliefs about the long-term fundamentals of bitcoin, then you can just continue to invest small amounts on a regular basis and as the amounts of your BTC investment portfolio gets BIGGER (hopefully), you may well learn that you will need to take greater measures to protect those BTC and to set them aside (even if you only get to 0.1BTC over several years).. and you can learn many of the details of the matters about what you are going to do and how you are going to do them as you are investing into BTC over the years without having to feel that you have to learn everything right away.

Bitcoin can take a real long time to learn, and we have some people who have been in bitcoin for as long as me or longer (I am about 8.5 years into bitcoin) and still seem to struggle with basic bitcoin knowledge because some of them don't establish solid attempts to focus on learning about BTC and getting their own systems solid in terms of just ongoingly accumulating BTC (even if just relatively small amounts).

Remember that there are a lot of folks who work all of their lives from the time that they are in their teens until they are in their 60s, 70s and sometimes even later in their lives, and many of them do not accumulate enough wealth to actually be comfortable and to have options, including the option to stop working and to live off of their investments.  Some of them might actually have some success to achieve such after 30 years or more, and I am not even blaming any of those failures to achieve financial (pschological) independence for not being able to accomplish some of the investment successes because there are quite a few obstacles stacked against a lot of folks, even if they do most if not all of the right things in their lives (including but not limited to saving/investing money).

Seems to me that bitcoin is providing potential opportunities that might not have been so easily available to regular normies and even to poor people to be able to have access towards getting richie tools.. and of course, access to bitcoin does not guaranteed that you will get richie.. but you have better chances with bitcoin and also better chances if you attempt to be prudent, reasonable and maybe slightly aggressive without becoming so aggressive that you are either gambling or putting your principle at risk.. so in some sense, you need to always be attempting to guard and build your principle and if you engage in any kinds of gambling or risky actions, you are not putting large portions of your principle at risk... merely because you want to become richie faster or whatever.

Some folks want to cause you to believe that you can short-cut and get richie more quickly, and for sure it is better not to be trying to play those games, especially not with large portions of your principle.

With bitcoin, depending on your age, you may well have some abilities to achieve what had not really been easily achievable previously and also you may well be able to accomplish such in a shorter amount of time.. so instead of 30 years or more, maybe you will be able to do it a lot quicker, and even if you do not get to a point that you can quit your job really early (such as within 10 years or when you are relatively young), you still will have decent chances of improving your odds and also increasing your options... even with something like $10 per week into bitcoin.. and of course, if you can do more that would be helpful, but it would be worse if you are putting in too much that you are not keeping the rest of your life (finances and psychology) in order.

Once you establish your budget.. then you have to figure out where and how to source your bitcoins.. whether you can sign up for some kind of service that might be available in your country.. or whether you have to figure out some resources through meet ups, and hopefully there is some kind of way that you can get coins in your area..  I am not really sure about al of the possibilities, and surely sometimes there are fees involved that might motivate how you are making your purchases of BTC, so in that regard, you might have to pool your fiat and to buy less frequently and in larger amounts.. but even if you might have some trouble finding options in the beginning, you might learn of more options as you go and perhaps more options might come available to you with the passage of time.. maybe?  maybe?

The beginning can be more difficult to get things set up, to get your systems into place, perhaps even the profitability of your BTC might not be very positive in the beginning, and then to keep learning along the way too, but the whole process should get easier and continue to build upon itself and you are likely to make various mistakes along the way too.. and for sure, you would want to strive to learn from your mistakes but sometimes, there is a need to also take action without necessarily trying to achieve perfection - because there has continued to be a certain amount of advantage in bitcoin in terms of getting all your systems set up and to get started.  After you are started, then some changes and tweaks or even strategizing to buy on dips might become more clear, but in the beginning just establishing some regular buy amount is good.. and with the passage of time, you will be in a better position to even better identify what you believe to be a dip or not and whether you believe it is an actionable dip.. or if it just remains best to just continue to follow the regular system that you have established for yourself and you have determined (and hopefully tailored) for yourself and your situation (psychological and financial).

Sometimes we feel that one can only invest when one have enough or extra income. But this extraordinary financial advice has proved that with little we can still invest. This post has indeed showed me how to start investing in Bitcoin. I need to start investing because my country is suffering from hyperinflation and our currency is loosing value daily. Although it might not be easy for me to invest because currently my income cannot even meet my needs. But this post have unveiled simple guidelines that could lead to financial freedom in future. I now know what to do with my campaign income. Thank you Jay for this financial advice and motivation.

R


▀▀▀▀▀▀▀██████▄▄
████████████████
▀▀▀▀█████▀▀▀█████
████████▌███▐████
▄▄▄▄█████▄▄▄█████
████████████████
▄▄▄▄▄▄▄██████▀▀
LLBIT|
4,000+ GAMES
███████████████████
██████████▀▄▀▀▀████
████████▀▄▀██░░░███
██████▀▄███▄▀█▄▄▄██
███▀▀▀▀▀▀█▀▀▀▀▀▀███
██░░░░░░░░█░░░░░░██
██▄░░░░░░░█░░░░░▄██
███▄░░░░▄█▄▄▄▄▄████
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█████████
▀████████
░░▀██████
░░░░▀████
░░░░░░███
▄░░░░░███
▀█▄▄▄████
░░▀▀█████
▀▀▀▀▀▀▀▀▀
█████████
░░░▀▀████
██▄▄▀░███
█░░█▄░░██
░████▀▀██
█░░█▀░░██
██▀▀▄░███
░░░▄▄████
▀▀▀▀▀▀▀▀▀
|
██░░░░░░░░░░░░░░░░░░░░░░██
▀█▄░▄▄░░░░░░░░░░░░▄▄░▄█▀
▄▄███░░░░░░░░░░░░░░███▄▄
▀░▀▄▀▄░░░░░▄▄░░░░░▄▀▄▀░▀
▄▄▄▄▄▀▀▄▄▀▀▄▄▄▄▄
█░▄▄▄██████▄▄▄░█
█░▀▀████████▀▀░█
█░█▀▄▄▄▄▄▄▄▄██░█
█░█▀████████░█
█░█░██████░█
▀▄▀▄███▀▄▀
▄▀▄
▀▄▄▄▄▀▄▀▄
██▀░░░░░░░░▀██
||.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀
███▀▄▀█████████████████▀▄▀
█████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀
███████▀▄▀██████░█▄▄▄▄▄▄▄▄
█████████▀▄▄░███▄▄▄▄▄▄░▄▀
███████████░███████▀▄▀
███████████░██▀▄▄▄▄▀
███████████░▀▄▀
████████████▄▀
███████████
▄▄███████▄▄
▄████▀▀▀▀▀▀▀████▄
▄███▀▄▄███████▄▄▀███▄
▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄
▄██▄██████▀████░███▄██▄
███░████████▀██░████░███
███░████░█▄████▀░████░███
███░████░███▄████████░███
▀██▄▀███░█████▄█████▀▄██▀
▀██▄▀█▄▄▄██████▄██▀▄██▀
▀███▄▀▀███████▀▀▄███▀
▀████▄▄▄▄▄▄▄████▀
▀▀███████▀▀
OFFICIAL PARTNERSHIP
FAZE CLAN
SSC NAPOLI
|
Masplanc
Member
**
Offline Offline

Activity: 798
Merit: 34


View Profile
May 09, 2022, 10:11:15 PM
 #54

I have learned in the forum how important to do research on every new project before planning to make investment.  When I have join the forum I every new project as an opportunity to make money. Some new project can never add value , those coins are refer to as shit coins.

██                      ►          ⦁               1xBit.com     │     S p o r t s b o o k   &   C a s i n o               ⦁          ◀                      ██
                  WELCOME BONUS UP TO 7 BTC!                  ♣
██  ██████████████          ■                   30+ ALTCOINS AVAILABLE                   ■          ██████████████  ██
GeorgeJohn
Hero Member
*****
Offline Offline

Activity: 1456
Merit: 697


Bitcoin is achievement


View Profile
May 09, 2022, 10:25:08 PM
 #55

I have learned a lot in this forum. And the following are some areas.

1. Plagiarism: I really like this forum for taking time to find out copy and post (paste) users. I, Being in this forum and not involving myself in plagiarism will also help me in my academic activities.

2. Syntax, Sematics and morphology: English Language is a second language to me (L2), which means I am a lingua franca. That is I am not using English language fluently, there are some commas, full Stops and buts (errors) in my writings and some people correct me in my English both the "the titles and the bodies.

3. Criticism and correction: most people criticized me and correct me again.. Criticism make me have an Eagle feathers (very strong).

So far, so good.. these are some of the areas I have learned from the group. Mostly the number one.
A child who accepts correction is ready to adopt the footsteps of the parents, when was correcting you and mandating you, and you felt I'm criticizing you, but it's very obvious that if you want to learn you most observe the environment and know the rudiments of the environmental factors.. it's open to you that you encourage yourself and right now you are sharing the knowledge you got from this platform... it's very obvious that this Bitcointalk community is like the highest site that educate both cryptocurrency and especially bitcoin and other environmental knowledge, here will add a knowledge of thinking and understanding in all ramifications of intellectuals activities only if you take the measure serious.

.BEST..CHANGE.███████████████
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
███████████████
..BUY/ SELL CRYPTO..
Munir575
Member
**
Offline Offline

Activity: 546
Merit: 10


View Profile
May 09, 2022, 11:56:29 PM
 #56

The forum has done alot for people and taught them alot as well, aside improvements in academic activities and English language there are several aspects you improve and learn more about. When ever i see a new word here i quickly go to my dictionary to check its meaning and how to use it as well, you can learn English anywhere so its good you are improving on that. Bitcointalk will teach you alot aside bitcoin.
Agbe (OP)
Hero Member
*****
Offline Offline

Activity: 896
Merit: 1269


Vave.com - Crypto Casino


View Profile
May 23, 2022, 07:14:30 PM
Last edit: May 24, 2022, 03:20:19 PM by Agbe
 #57

What I have learnt so far;

I have learnt that bitcoin is a decentralized finance.

I have learnt that bitcoin is built on scarcity model as it has a limited supply of 21million .

I have learnt the difference between custodial and non custodial wallets.

I have learnt some safe tips to save my seed phrase.

I have learnt how to perform transactions.

I have also learnt how to sign messages using my private keys.

These are what is a expected of you to learn primarily, every other knowledge is not a waste but are secondary as long as it's a bitcoin forum.

As it is said, learning is a continuous process. The number 1,2,4 and 5 you listed out has just been covered up and also I have learned how to create table. https://bitcointalk.org/index.php?topic=5391471.20. I believe, I will learn a lot of things in the forum but it must be a rigorous process.

Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!