Bitcoin kwoledge is not complete without bitcoin investment

[Ryu_Ar1]

In fact, is not good enough to have money as the first capital for an investment and even if you have the money without the knowledge, you still end up spending and wasting the money without achieving anything tangible out of the whole thing, so knowledge is indeed power, and it guarantees you a safe and profiting journey since you will be approaching everything with expert ideas since you already have and build the needed knowledge about the investment,  although the good side of Bitcoin investment is that, one can buy and hold bitcoin while he/she spend the time to build the knowledge about bitcoin, but even at that, the investors must be careful not to have bought the Bitcoin when the price is at an all-time high because doing that may result in I to long wait and possible frustrations.

For the last point I actually don't really agree with what you said even though caution is important but who cares when we already run the strategy that is done then we have to run until the end no matter whether the price of bitcoin is high or at its lowest point because however some probability can occur in this case,
I once bought bitcoin at a high price of $60k 2 years ago but I have no regrets about that and with the decline that occurred because I still carry out my strategy by buying periodically even though it is in this case I need a few years to return in terms of value especially when bitcoin hits the price of $15k this year but it is actually a blessing when I buy periodically starting from when 2 years ago where it was the highest point I bought until now bitcoin at $15k which is also the lowest point of what I bought while in bitcoin.
I think for this it might be a lot of people who will definitely think my plan is crazy or something like that but when in the end there is a high confidence when I get a profit in the previous ath and as long as my bitcoin does not decrease (although it shrinks in fiat value) but I don't really care for now because the target is clearly a future that I believe will be brighter for bitcoin.

[JayJuanGee]

If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.

Let's discuss.

We often hear/read people here telling advise about "You Must learn first before investing" but for me ? one thing that always matter that I already experienced . why not instead of doing that is "Invest first while Learning" as long as that amount are what you can afford to lose.

Try to Imagine that you invested in bitcoin when the price is 30k , then you start learning and study , after few years price grows to 100k and your knowledge then is completely about bitcoin then your profit can be used for another strategy right?
that is how I see the best in bitcoin learning and yes earning .

if you have no proper knowledge about bitcoin or the market in general you might panic and pull out your holdings once the value decreases not knowing that that’s just how the market works you need to be patient to generate the maximum profit possible

with such an upside asymmetric bet like bitcoin, it likely is not necessary to be in a mindset that attempts to maximize profits because bitcoin is going to end up giving options.. which surely is similar to the idea of profits, but not really the same as maximizing profits, but instead being directionally correct.. so if we are continuously accumulating bitcoin up until a point that we feel that we have enough, then we merely go into a kind of maintenance mode, and with each of those steps, it may or may not end up being maximum profits, but instead enough profits and enough options that your life has improved significantly by choosing and acting upon investing into bitcoin as compared to what it would have had been if you had not chosen to include bitcoin into your investment portfolio.

everyone says to only invest what you can afford to lose and i agree but still it’ll be nice to learn the basics first regarding cryptocurrency and lessen the risks in investing

I doubt that those principles fit as well with the concept of crypto currency, because if you think about what is crypto currency, I have hardly any fucking clue about what it is.. but I know what bitcoin is and I don't really need to screw around with a bunch of shitcoins in order to create, follow and tweak from time to time my investment strategy with bitcoin.

I think there is need to invest for them, rather teach them how to invest for themselves. Because dey might end up screwing you up. Thinking you have swindle there money without knowing that crypto is not for the week. It's a self deceplinary kind of thing which is more like a gambling. If you win you win if you loose you loose.
Investing for someone should be on purpose or matured minded set of people who really do understand what crypto is all about.

You are correct on that one because irrespective of how we may feel is important for people to start investing on Bitcoin but it doesn't mean that we should allow people to invest under us, although it all depends on individual because there are people who helps those that has know knowledge about investment to invest under them.

You can help someone very close to you to invest in bitcoin if he persist he must invest or after when you have introduced bitcoin to that person he accepts to invest. You don't need to deprive him from investing in bitcoin as long as you have told him that it should be a long term investment. For example, if your dad or mom has a reasonable amount of funds and they are interested to invest in asset like gold, bond and stock, if they accepts then why wouldn't you help them to invest when you know that bitcoin will bring better profit for them in the long run than other assets.

Sure it is likely that bitcoin is going to continue to bring greater profits, but 1) there is no guarantee and 2) probably the best that you can do with someone who already has decided to invest in those other assets, which your list should have had included property too, probably amongst the best that you could do is to attempt to get them to add bitcoin into the mix of their assets rather than getting them to completely abandon those other assets, and sure then one of the questions would be how much to put into bitcoin and from which categories to take the investment.. not easy decisions. .but likely the best that you might be able to do is to get them to allocate a certain portion of their investment portfolio to bitcoin, and surely my own recommendation to newbies and even as a default starting point is to consider bitcoin to be 1% to 25% of the total portfolio, and they can adjust that later, but the starting point is pretty wide and also includes the idea that each of us is responsible for figuring out our own bitcoin allocation and most people are likely going to end up being better off by getting off of zero.. and figuring out something that they believe to be reasonable for them and their situation.

After all, parents leave their businesses for their children to manage when they see that he is capable of running it to ease them from much stress. Apart from these set of people, it is not cool to help someone invest in bitcoin, to avoid their worries from the urge of profit.

I agree that it can be quite involved to get someone started in bitcoin because in the beginning it might seem that they need a lot of hand-holding because frequently people do not necessarily know how to start an investment in a way that is not just lump summing in and then watching for the price to go up, which might work for some folks who get lucky, but it is not necessarily the correct approach, so their are a lot of people who don't really know how to invest and/or to manage their money in investment ways, and sure it might be good if they learn some things about bitcoin in particular too.. so it might take some people some time to either allocate their already existing investments into bitcoin or if they are new to investing to figure out a way to get started that makes sense and works on a kind of longer term time horizon.. even if there could also be some front loading (or lump summing) in the earlier stages.. it could still take  many years to build up a position and the earliest years are likely the most challenging to make sure that they figure out a comfortable path, and some of us who are already in bitcoin might be hesitant to involve ourselves in helping anyone into bitcoin who are outside of our more immediate family.

I think taking investing and  learning for beginners is not the best start. Beginner have lots of mindset toward bitcoin that are not real.  Most beginners don't really know much about the volatility of the market.

JJG has already said it all that one only need the basic knowledge to get started, which is to know to buy bitcoin and prepare the amount that you will use for regular DCA that will not jeopardise with our other expenses. Lastly, is to make sure that you are investing for a long term so that you will be faced with less risk and all beginners who have plans to accumulate for more that four years and above don't need to worry about the market, so that he doesn't get distracted since he is new in the game.

Just think about the various kinds of investors too.. There could be the kind of investor who lump sums and then just leaves the investment alone for 4 years or longer and then maybe reassesses after 4 years and at various points thereafter.  I do think that investor would be better to DCA after having had lump summed.. but it can cause a different dynamic if there might be ongoing investments for 4 years after having had lump summed in, and sure at various points there might be needs to reassess in terms of the size of the DCA and or whether to stop the DCA and just to let the investment ride or maybe stop the DCA and then just keep some sums for buying on dips from time to time. .. and surely those funds can come from ongoing cashflows since many folks may well be getting into BTC with an already existing cashflow, but they still might have some questions about whether to continue to DCA or to convert into something that might be buying on dips.

In fact, is not good enough to have money as the first capital for an investment and even if you have the money without the knowledge, you still end up spending and wasting the money without achieving anything tangible out of the whole thing, so knowledge is indeed power, and it guarantees you a safe and profiting journey since you will be approaching everything with expert ideas since you already have and build the needed knowledge about the investment,  although the good side of Bitcoin investment is that, one can buy and hold bitcoin while he/she spend the time to build the knowledge about bitcoin, but even at that, the investors must be careful not to have bought the Bitcoin when the price is at an all-time high because doing that may result in I to long wait and possible frustrations.

For the last point I actually don't really agree with what you said even though caution is important but who cares when we already run the strategy that is done then we have to run until the end no matter whether the price of bitcoin is high or at its lowest point because however some probability can occur in this case,
I once bought bitcoin at a high price of $60k 2 years ago but I have no regrets about that and with the decline that occurred because I still carry out my strategy by buying periodically even though it is in this case I need a few years to return in terms of value especially when bitcoin hits the price of $15k this year but it is actually a blessing when I buy periodically starting from when 2 years ago where it was the highest point I bought until now bitcoin at $15k which is also the lowest point of what I bought while in bitcoin.
I think for this it might be a lot of people who will definitely think my plan is crazy or something like that but when in the end there is a high confidence when I get a profit in the previous ath and as long as my bitcoin does not decrease (although it shrinks in fiat value) but I don't really care for now because the target is clearly a future that I believe will be brighter for bitcoin.

If you started buying bitcoin 2 years ago, right around the ATH, and if you bought around $100 per week, you would have invested right around $10,500, and you would have had accumulated right around 0.4181 BTC (which would be worth about $14,600 with current BTC prices).  So that would surely not be a bad place to be.. something like 39% in profits and not a bad amount of holdings.. but sure sometimes some of us might not be able to be consistent in how we are buying our BTC, but still somewhat consistency.. maybe not perfect consistency. but instead ongoing persistency could still have had put us into a pretty decent place right now, even if we started buying BTC at or around the most recent ATH from November 2021.

[Roseline492]

Just think about the various kinds of investors too.. There could be the kind of investor who lump sums and then just leaves the investment alone for 4 years or longer and then maybe reassesses after 4 years and at various points thereafter.  I do think that investor would be better to DCA after having had lump summed.. but it can cause a different dynamic if there might be ongoing investments for 4 years after having had lump summed in, and sure at various points there might be needs to reassess in terms of the size of the DCA and or whether to stop the DCA and just to let the investment ride or maybe stop the DCA and then just keep some sums for buying on dips from time to time. .. and surely those funds can come from ongoing cashflows since many folks may well be getting into BTC with an already existing cashflow, but they still might have some questions about whether to continue to DCA or to convert into something that might be buying on dips.

Of course you are right @JJG there are investors whom there main strategy is to Lump  sum whenever they see the Bitcoin price dip, so most of them that has good portfolio make sure to accumulate with a huge amount of money with the objective that after buying it and the Bitcoin price refuses to come back to there targeted dip they would be on a safer side because they have already invested a huge amount of money that could cover them for years.

And if perhaps sometimes in the future they feel the need to add more to there accumulation portfolio they could as well initiate the use of DCA until they feel is right for them to accumulate on lump sum again.

[JayJuanGee]

Just think about the various kinds of investors too.. There could be the kind of investor who lump sums and then just leaves the investment alone for 4 years or longer and then maybe reassesses after 4 years and at various points thereafter.  I do think that investor would be better to DCA after having had lump summed.. but it can cause a different dynamic if there might be ongoing investments for 4 years after having had lump summed in, and sure at various points there might be needs to reassess in terms of the size of the DCA and or whether to stop the DCA and just to let the investment ride or maybe stop the DCA and then just keep some sums for buying on dips from time to time. .. and surely those funds can come from ongoing cashflows since many folks may well be getting into BTC with an already existing cashflow, but they still might have some questions about whether to continue to DCA or to convert into something that might be buying on dips.

Of course you are right @JJG there are investors whom there main strategy is to Lump  sum whenever they see the Bitcoin price dip, so most of them that has good portfolio make sure to accumulate with a huge amount of money with the objective that after buying it and the Bitcoin price refuses to come back to there targeted dip they would be on a safer side because they have already invested a huge amount of money that could cover them for years.

And if perhaps sometimes in the future they feel the need to add more to there accumulation portfolio they could as well initiate the use of DCA until they feel is right for them to accumulate on lump sum again.

I would not necessarily recommend a strategy of just lump sum or just buying on dips for anyone who is new to bitcoin, but there could be times when such a strategy might be applied well for people who are in a position that they are able to consider that as an option...and surely sometimes people choose strategies that are not as good as they could be, and how much time that they have to attempt to think through some kind of a better strategy is going to vary... ..sometimes any of us could end up employing a strategy that we believe to be a good strategy, but then we might not realize that our strategy ends up kind of locking us into a kind of mindset that might not be as good for bitcoin as something that might involve consistent and ongong buying, even if their might also be some lump sum buying and some buying on dips in the mix of historical buys.  It can also take several years to develop a perspective on bitcoin for people who might not end up screwing up and panicking along the way...sometimes the screw ups might not be realized for several months or even sometimes years, it could take to realize that a different mindset and approach might have had worked out better.. which I think that having DCA as a central part of any strategy in the first year or two (at least) is likely going to be helpful in terms of putting the BTC HODLer/Accumulator/investor in a good state of mind towards their bitcoin and their ongoing BTC accumulation and perhaps considering their transition into BTC maintenance at some point in the future.

[Makus]

I would not necessarily recommend a strategy of just lump sum or just buying on dips for anyone who is new to bitcoin, but there could be times when such a strategy might be applied well for people who are in a position that they are able to consider that as an option...and surely sometimes people choose strategies that are not as good as they could be, and how much time that they have to attempt to think through some kind of a better strategy is going to vary... ..sometimes any of us could end up employing a strategy that we believe to be a good strategy, but then we might not realize that our strategy ends up kind of locking us into a kind of mindset that might not be as good for bitcoin as something that might involve consistent and ongong buying, even if their might also be some lump sum buying and some buying on dips in the mix of historical buys.  It can also take several years to develop a perspective on bitcoin for people who might not end up screwing up and panicking along the way...sometimes the screw ups might not be realized for several months or even sometimes years, it could take to realize that a different mindset and approach might have had worked out better.. which I think that having DCA as a central part of any strategy in the first year or two (at least) is likely going to be helpful in terms of putting the BTC HODLer/Accumulator/investor in a good state of mind towards their bitcoin and their ongoing BTC accumulation and perhaps considering their transition into BTC maintenance at some point in the future.

Well said @JJG, practicing just lump sum or buy the dip by newbies isn't advisable by me also, as they may panic easily when a very large amount of their fiat has been used to purchase Bitcoin while the market goes bearish or sidways, I recommend all newbies to start with DCA and when they are comfortable making some series of accumulation without any stupid emotional decision then, they can start using some other strategies which suites them, like mixing two different strategy to make a powerful one, consistency creates perfection, so what every you are doing consistently you get perfect at it, so someone can get perfect at doing the wrong things and making wrong choices and he might still think he is successful why if only he'll make some changes could lead to more successful outcome.

[JayJuanGee]

I would not necessarily recommend a strategy of just lump sum or just buying on dips for anyone who is new to bitcoin, but there could be times when such a strategy might be applied well for people who are in a position that they are able to consider that as an option...and surely sometimes people choose strategies that are not as good as they could be, and how much time that they have to attempt to think through some kind of a better strategy is going to vary... ..sometimes any of us could end up employing a strategy that we believe to be a good strategy, but then we might not realize that our strategy ends up kind of locking us into a kind of mindset that might not be as good for bitcoin as something that might involve consistent and ongong buying, even if their might also be some lump sum buying and some buying on dips in the mix of historical buys.  It can also take several years to develop a perspective on bitcoin for people who might not end up screwing up and panicking along the way...sometimes the screw ups might not be realized for several months or even sometimes years, it could take to realize that a different mindset and approach might have had worked out better.. which I think that having DCA as a central part of any strategy in the first year or two (at least) is likely going to be helpful in terms of putting the BTC HODLer/Accumulator/investor in a good state of mind towards their bitcoin and their ongoing BTC accumulation and perhaps considering their transition into BTC maintenance at some point in the future.

Well said @JJG, practicing just lump sum or buy the dip by newbies isn't advisable by me also, as they may panic easily when a very large amount of their fiat has been used to purchase Bitcoin while the market goes bearish or sidways, I recommend all newbies to start with DCA and when they are comfortable making some series of accumulation without any stupid emotional decision then, they can start using some other strategies which suites them, like mixing two different strategy to make a powerful one, consistency creates perfection, so what every you are doing consistently you get perfect at it, so someone can get perfect at doing the wrong things and making wrong choices and he might still think he is successful why if only he'll make some changes could lead to more successful outcome.

I personally believe your use of the term "perfect" is not very good, because striving for "perfection" may well contribute towards newbie BTC hodlers/accumulators getting too worked up in a mindset that considers trying to time the market or other kinds of strategies to lower costs per BTC, and generally speaking it is not necessary to be perfect, but instead to be directionally correct by ongoingly accumulating BTC and accumulating within the boundaries of their own situations.  So if someone is new to bitcoin and they are building up their BTC stash, they likely just need to ongoingly accumulate bitcoin, perhaps in a variety of ways that mostly focuses on DCA in the beginning without screwing up their own personal budget in terms of making sure that they still have enough to cover their various expenses and any emergencies that might end up happening in their lives.

Now the particulars are going to vary in terms of how many BTC does any person need to accumulate based on his her situation, and how long it might take to reach such goals.  The setting of more aggressive BTC accumulation targets might well run risks of screwing up finances, so it seems to me that the more aggressive that anyone might be in his/her BTC accumulation, then that person is going to likely need to study his/her financial cashflows and expenses a lot more closely than someone who takes a less aggressive stance.. and perhaps either one will work, and some people do not really want to spend a lot of time looking at or thinking about BTC and/or their finances, so in those kinds of cases, they could well end up taking a way less aggressive stance and still end up doing quite well as long as they include BTC reather than staying a no coiner.

The rest of us who already have bitcoin by definition are not no coiners, but we may well be low coiners, so sometimes we might want to consider whether we have enough BTC for our own particular situation, and if we are going to be trying to accumulate more BTC, then how do we go about doing that in terms of thinking about how much BTC we have already accumulated, and surely we will have some advantages to having had already accumulated BTC in terms of that information helping us in order to potentially refine our goals and to relook at our BTC accumulation progress from time to time and to consider if there might be ways that we might tweak our strategies to make them better, but still I am not going to say that we achieve perfection even if twe might be striving for something that is continuing to attempt to improve and to make sure that we are financially and psychologically comfortable with what we are doing and how we are doing it..

It seems that ongoing persistency may or may not achieve perfection, but it has decent chances of continuing to put a BTC accumulator/HODLer into a better place by having had participated in bitcoin rather than if s/he had chosen a path (purposefully or accidentally) of not participating in bitcoin.

[Makus]

I personally believe your use of the term "perfect" is not very good, because striving for "perfection" may well contribute towards newbie BTC hodlers/accumulators getting too worked up in a mindset that considers trying to time the market or other kinds of strategies to lower costs per BTC, and generally speaking it is not necessary to be perfect, but instead to be directionally correct by ongoingly accumulating BTC and accumulating within the boundaries of their own situations.  So if someone is new to bitcoin and they are building up their BTC stash, they likely just need to ongoingly accumulate bitcoin, perhaps in a variety of ways that mostly focuses on DCA in the beginning without screwing up their own personal budget in terms of making sure that they still have enough to cover their various expenses and any emergencies that might end up happening in their lives.

Okay, thank you sir for the correction, lesson learnt and from now on I'll be using the word aggressive rather than perfect when it comes to Bitcoin discussion.it gives me joy knowing that you have enough knowledge about Bitcoin to help the newbies and lower understand better and you never cease to make corrections where needed. I also like the fact that you talk about making investment/accumulating more coin based on the capacity the person can handle without disrupting their personal budget. This is one of the major reasons why lump sum is not the best strategy for beginners because after making such a huge or aggressive accumulation they tend to realize their mistake and then go back to sell their coins. Even when I made my first accumulation, it was a small amount I got from selling my unused phone and every since then I have been applying DCA until I get your idea of combining two strategy together.

[Patrol69]

if you have no proper knowledge about bitcoin or the market in general you might panic and pull out your holdings once the value decreases not knowing that that’s just how the market works you need to be patient to generate the maximum profit possible

everyone says to only invest what you can afford to lose and i agree but still it’ll be nice to learn the basics first regarding cryptocurrency and lessen the risks in investing

An investor needs to have all the qualities to invest. Just as investing requires you to take financial risks, you also need to brainstorm whether you are risking money in the right place at the right time. Money should not be risked where it is difficult to get the money back. You said here that an investor should risk that amount of money that he can afford to lose.  

Suppose you are an investor and you have enough money, but if I demand a part of your total money from you, will you give me a part of your money immediately, or will you not give me a part of your money immediately because that money is your hard earned money? did Investing without knowing about investing and giving your money to another person without any condition is the same. If you think you are risking money by investing without having enough knowledge about investing, then you are living in a fool's world because the definition of investment is not only that I deposit money in an exchange and buy any coin with that money at any time. I think about money first, first I think about where I will invest, then whether I will get a return from this investment and if I get a return, how much interest I will get at the end of the specified period.  

Just as investment knowledge is not complete without investing, without investment knowledge it is not possible to invest properly. To learn about investing you need to invest and to gain from investing you need to learn about investing first.
Hope you don't risk your money unnecessarily, definitely think twice before risking money to make sure you are risking money in the right place.

[Roseline492]

An investor needs to have all the qualities to invest. Just as investing requires you to take financial risks, you also need to brainstorm whether you are risking money in the right place at the right time. Money should not be risked where it is difficult to get the money back. You said here that an investor should risk that amount of money that he can afford to lose.  

In as much as investment may seem very good but is unwise investing everything we had in other to make a good profits because somehow it will affect the investor in one way or the other in the future.

Perhaps you could reason other alternative diversification like business were you easily invest and be getting a daily profit and structuring some parts of it investing on Bitcoin, perhaps with this way you could a have steady source of income generator that could help not only your investment journey but also on your daily needs.

[arabspaceship123]

There is actually no end to know, meaning you can always go for the deep knowledge even after being invested in Bitcoin.

It doesn't have to be bitcoin it's applied to altcoins the same way the majority of ppl don't know how blockchains or mining works but they've got info about how to buy-sell coins or use their wallets. It's enough info for ppl to get started in crypto so the benefit for learning about cryptocurrencies is ppl can learn when it suits them now or later.

everyone says to only invest what you can afford to lose and i agree but still it’ll be nice to learn the basics first regarding cryptocurrency and lessen the risks in investing

Isn't that the key to investment you shouldn't invest more than your means safely allow you?

[Pi-network314159]

Now the particulars are going to vary in terms of how many BTC does any person need to accumulate based on his her situation, and how long it might take to reach such goals.  The setting of more aggressive BTC accumulation targets might well run risks of screwing up finances, so it seems to me that the more aggressive that anyone might be in his/her BTC accumulation, then that person is going to likely need to study his/her financial cashflows and expenses a lot more closely than someone who takes a less aggressive stance.. and perhaps either one will work, and some people do not really want to spend a lot of time looking at or thinking about BTC and/or their finances, so in those kinds of cases, they could well end up taking a way less aggressive stance and still end up doing quite well as long as they include BTC reather than staying a no coiner.

Yes  definitely the particular strategy of investment must surely varies due to the investment plan. Becoming as an investor one doesn't need to be agressive. This is the problem most investors have, when they are not financially bouyant and trying to meet up some certain investment goal, they might get fucked up along the line. Or becoming financially bankrupt.

I think investment is not a do or die affiar. Accumulation of Bitcoin should be transparent and more of investing with an external steady cash flow, which allows you to invest at your convenience rather being an agressive investor with less cash flow.

The rest of us who already have bitcoin by definition are not no coiners, but we may well be low coiners, so sometimes we might want to consider whether we have enough BTC for our own particular situation, and if we are going to be trying to accumulate more BTC, then how do we go about doing that in terms of thinking about how much BTC we have already accumulated, and surely we will have some advantages to having had already accumulated BTC in terms of that information helping us in order to potentially refine our goals and to relook at our BTC accumulation progress from time to time and to consider if there might be ways that we might tweak our strategies to make them better, but still I am not going to say that we achieve perfection even if twe might be striving for something that is continuing to attempt to improve and to make sure that we are financially and psychologically comfortable with what we are doing and how we are doing it..

There is no perfection in whatever we do. Surely we need to be checking on our investment to see if there is a better strategy to inprove our investment parttern.  Although I see reason as to why checking on other srategy to inprove on our investment despite DCA strategy has been helping for a long time now and so far it has been the best option and if need be to inprove in strategy I think it will be updated to the crypto space.  

When talking about money or investment, emotion is always attached because losing is the greatest fear in investment. So let always invest with caution. Just as you said in this context, even if we might be striving for something to continue attempt, we need to be financial and psycological comfortable. There is nothing that gives comfort than investing at ease without a mindset of investing with a whopping some of money that affect your financial income.

It seems that ongoing persistency may or may not achieve perfection, but it has decent chances of continuing to put a BTC accumulator/HODLer into a better place by having had participated in bitcoin rather than if s/he had chosen a path (purposefully or accidentally) of not participating in bitcoin.

Bitcoin accumulation participation has been an advantage to many and keeps them In a more better position, despite some choose to protcatinate . Achieving as little as possible can be better off than constant declining of investing. Or waiting to invest on porpose or by accident.

[JayJuanGee]

The rest of us who already have bitcoin by definition are not no coiners, but we may well be low coiners, so sometimes we might want to consider whether we have enough BTC for our own particular situation, and if we are going to be trying to accumulate more BTC, then how do we go about doing that in terms of thinking about how much BTC we have already accumulated, and surely we will have some advantages to having had already accumulated BTC in terms of that information helping us in order to potentially refine our goals and to relook at our BTC accumulation progress from time to time and to consider if there might be ways that we might tweak our strategies to make them better, but still I am not going to say that we achieve perfection even if twe might be striving for something that is continuing to attempt to improve and to make sure that we are financially and psychologically comfortable with what we are doing and how we are doing it..

There is no perfection in whatever we do. Surely we need to be checking on our investment to see if there is a better strategy to inprove our investment parttern.  Although I see reason as to why checking on other srategy to inprove on our investment despite DCA strategy has been helping for a long time now and so far it has been the best option and if need be to inprove in strategy I think it will be updated to the crypto space.  

I am not sure what you mean by the portion that I bolded above.  Why would DCA be applicable to the "crypto space?"  There is a need to identify an asset that is worthy of investing, and then you need to figure that ultimately there are pretty good chances that the asset will continue to go up in value.. sure it is not guaranteed, but the chances of going up with the passage of time are pretty decent... then once you establish that, then you can DCA invest into it with varying levels of personally tailoring your investment about and increments in terms of your own cashflow and maybe other personal factors... You cannot really apply the same concepts to shitcoins because first you would need to identify one or more in which you would apply the same techniques, so even if you believe that you have identified one or more, it is hardly even relevant to the discussion, unless you are going to pump some random shitcoin. .. as having some kind of a meaningful potential.. and that surely seems to take us outside of the topic of this thread, so I am not sure why you even mentioned such nonsense in that there might be some shitcoin that might fit the same category as bitcoin, which maybe shows that you might not sufficiently understand what bitcoin is in order to know how its not just a part of some shitcoin space.. so maybe you need to specify what you are referring to and how it might relate to bitcoin or how similar investment practices might apply to such vaguely referred to category of shitcoins.

[Pi-network314159]

The rest of us who already have bitcoin by definition are not no coiners, but we may well be low coiners, so sometimes we might want to consider whether we have enough BTC for our own particular situation, and if we are going to be trying to accumulate more BTC, then how do we go about doing that in terms of thinking about how much BTC we have already accumulated, and surely we will have some advantages to having had already accumulated BTC in terms of that information helping us in order to potentially refine our goals and to relook at our BTC accumulation progress from time to time and to consider if there might be ways that we might tweak our strategies to make them better, but still I am not going to say that we achieve perfection even if twe might be striving for something that is continuing to attempt to improve and to make sure that we are financially and psychologically comfortable with what we are doing and how we are doing it..

I think this was what I was referring to. You made mentioned of how to tweak our strategy to make them better, and i thought there were no other way of strategizing rather than the  Benjamin Graham DCA strategy in 1949 except another form of strategy surfaces. That's when I use the slogan " updat in cryto space"

[GigaBit]

I totally agree with the op, though the discussion has really gone and come a long way, i am just coming across the thread for the very first time and i guess it's not wrong to say something.
It is commonly said that experience is the best teacher, so this is to say that nothing beats being experientially knowledgeable in something, which in this case is bitcoin. It is one thing to read and gain some knowledge and insights in operability of bitcoin, how it works and all that, but it is completely a different experience altogether to have the first-hand experience in what bitcoin truly is and how it operates, for now, your knowledge of bitcoin is no longer completely based on what you read or what someone told you, but now, your knowledge is also based on your own personal experiences as well.

So yeah, anybody involved in this space deserved to buy some bitcoin, no matter how little, if you ever will try to teach somebody somewhere about bitcoin someday, you need to own some bitcoin yourself today.

 

I so much love what you said in this last paragraph. There is a need for you to be an investor before teaching someone about investment. Let's take for example you are a mechanical engineer who studied in school and have all the theoretical knowledge of coupling machine and has not yet practically done it, I think you can't be able to teach someone in the practical aspect.

Having knowledge of Bitcoin is not enough but also putting it in practice, to avoid misplacement of fund. And to also know the security measures needed in operation wallet. Also knowing the best wallet to use for Bitcoin investment. Failure to know this tips might amount to a fuck up.

How can a person invest in Bitcoin if they don't know about Bitcoin? Here's an investor needs to know about Bitcoin first. It may also happen that a person who knows well about Bitcoin but he has financial problems so he is unable to invest in Bitcoin at that time. He might invest in Bitcoin when he will have the money. So doesn't it make sense to acquire knowledge about Bitcoin is important? I think learning is definitely important. If no one knew about Bitcoin, we wouldn't know Bitcoin. But if someone learns about Bitcoin and doesn't invest in Bitcoin despite having money, then I think there is a lack in his knowledge or he can not understand about bitcoin. Those who know about Bitcoin must not let this golden opportunity to vain. When a person invest in bitcoin after learning then it will prove that he can fully trust in bitcoin.

[Fivestar4everMVP]

I totally agree with the op, though the discussion has really gone and come a long way, i am just coming across the thread for the very first time and i guess it's not wrong to say something.
It is commonly said that experience is the best teacher, so this is to say that nothing beats being experientially knowledgeable in something, which in this case is bitcoin. It is one thing to read and gain some knowledge and insights in operability of bitcoin, how it works and all that, but it is completely a different experience altogether to have the first-hand experience in what bitcoin truly is and how it operates, for now, your knowledge of bitcoin is no longer completely based on what you read or what someone told you, but now, your knowledge is also based on your own personal experiences as well.

So yeah, anybody involved in this space deserved to buy some bitcoin, no matter how little, if you ever will try to teach somebody somewhere about bitcoin someday, you need to own some bitcoin yourself today.

 

I so much love what you said in this last paragraph. There is a need for you to be an investor before teaching someone about investment. Let's take for example you are a mechanical engineer who studied in school and have all the theoretical knowledge of coupling machine and has not yet practically done it, I think you can't be able to teach someone in the practical aspect.

Having knowledge of Bitcoin is not enough but also putting it in practice, to avoid misplacement of fund. And to also know the security measures needed in operation wallet. Also knowing the best wallet to use for Bitcoin investment. Failure to know this tips might amount to a fuck up.

How can a person invest in Bitcoin if they don't know about Bitcoin? Here's an investor needs to know about Bitcoin first. It may also happen that a person who knows well about Bitcoin but he has financial problems so he is unable to invest in Bitcoin at that time. He might invest in Bitcoin when he will have the money. So doesn't it make sense to acquire knowledge about Bitcoin is important? I think learning is definitely important. If no one knew about Bitcoin, we wouldn't know Bitcoin. But if someone learns about Bitcoin and doesn't invest in Bitcoin despite having money, then I think there is a lack in his knowledge or he can not understand about bitcoin. Those who know about Bitcoin must not let this golden opportunity to vain. When a person invest in bitcoin after learning then it will prove that he can fully trust in bitcoin.

Well, it is just the same thing he said that you are repeating, having just a theoretical knowledge of something, we can never compare that to some one who have both the theoretical knowledge and the practical knowledge.

This is why students in some countries, after they pass out from the university I think, they are mandated to find a company inline with what they studied, and do an IT there, (IT means industrial training) this is where they gain the practical knowledge of that which they studied in school, and some systems or government in some countries make this process mandatory for all students because they understand that theoretical knowledge alone is not enough for that person to perform well if hired straight off immediately the student leaves school.

This is exactly the same thing with Bitcoin knowledge, knowing about bitcoin alone is not a complete knowledge in bitcoin, but knowing about bitcoin, and actually going through the process of converting fiat into crypto, buying, withdrawing and holding bitcoin in your private wallet, this is what actually qualifies a person to teach others about bitcoin.

[Wiwo]

I totally agree with the op, though the discussion has really gone and come a long way, i am just coming across the thread for the very first time and i guess it's not wrong to say something.
It is commonly said that experience is the best teacher, so this is to say that nothing beats being experientially knowledgeable in something, which in this case is bitcoin. It is one thing to read and gain some knowledge and insights in operability of bitcoin, how it works and all that, but it is completely a different experience altogether to have the first-hand experience in what bitcoin truly is and how it operates, for now, your knowledge of bitcoin is no longer completely based on what you read or what someone told you, but now, your knowledge is also based on your own personal experiences as well.

So yeah, anybody involved in this space deserved to buy some bitcoin, no matter how little, if you ever will try to teach somebody somewhere about bitcoin someday, you need to own some bitcoin yourself today.

 

I so much love what you said in this last paragraph. There is a need for you to be an investor before teaching someone about investment. Let's take for example you are a mechanical engineer who studied in school and have all the theoretical knowledge of coupling machine and has not yet practically done it, I think you can't be able to teach someone in the practical aspect.

Having knowledge of Bitcoin is not enough but also putting it in practice, to avoid misplacement of funds. And to also know the security measures needed in the operation wallet. Also knowing the best wallet to use for Bitcoin investment. Failure to know these tips might amount to a fuck up.

Yeah, there is no way you can teach someone what you don't practice,  this is a very important point to note before venturing into Bitcoin or any other investments,  this way you have a good understanding of their investment in the long run,  because at some point,  you as the teacher have to get a result to show your mentees...

Bitcoin has a unique advantage,  and that is, the ability for anyone to hold Bitcoin easily and fast,  with a secured wallet balance,  or that,  you can first buy Bitcoin and hold it in your wallet then after go after the knowledge process.

[Frankolala]

Surely we need to be checking on our investment to see if there is a better strategy to inprove our investment parttern.  Although I see reason as to why checking on other srategy to inprove on our investment despite DCA strategy has been helping for a long time now and so far it has been the best option and if need be to inprove in strategy I think it will be updated to the crypto space.  

I don't think that there is any other strategy to increase your bitcoin investment portfolio apart from the three strategy, which is buying at the dip, buy lump sum and the best of all which is regular DCA. Nobody will teach you what amount that you are to use for DCA and how to go about it, if you are to buy weekly, monthly or quarterly. You are the one to figure that out base on your cash flow.

Also you are the one that will make your bitcoin accumulation to be flexible with the market price since you are the once that is experiencing the market waves and this is why some investors fail to understand how to go with the increment of the investment when there is a such waves, but they only hodli to observe the market so that they can come up with what to do next in other to continue to increase their bitcoin portfolio.

The best way is keep on DCAing and don't stop no matter the direction of the market because you will definitely overcome the market waves on the long term, and if you are opportune to save funds for the dip..take advantage of it, and don't wait for anyone to tell you which strategy to use before you invest. It is your funds and any wrong decisions will lead to regret.

[barisbilgili]

Yeah, there is no way you can teach someone what you don't practice,  this is a very important point to note before venturing into Bitcoin or any other investments,  this way you have a good understanding of their investment in the long run,  because at some point,  you as the teacher have to get a result to show your mentees...

Bitcoin has a unique advantage,  and that is, the ability for anyone to hold Bitcoin easily and fast,  with a secured wallet balance,  or that,  you can first buy Bitcoin and hold it in your wallet then after go after the knowledge process.

If we don't have results from the investments we make then the people we will teach will not easily believe what we teach, so it would be better for us not to teach other people before we have good knowledge about the investments we make and have also had results from them. the investment we make, you are right, everyone can of course learn Bitcoin because if we have capital then we can buy and store it and must store it well in the wallet you use.

[JayJuanGee]

Yeah, there is no way you can teach someone what you don't practice,  this is a very important point to note before venturing into Bitcoin or any other investments,  this way you have a good understanding of their investment in the long run,  because at some point,  you as the teacher have to get a result to show your mentees...

Bitcoin has a unique advantage,  and that is, the ability for anyone to hold Bitcoin easily and fast,  with a secured wallet balance,  or that,  you can first buy Bitcoin and hold it in your wallet then after go after the knowledge process.

If we don't have results from the investments we make then the people we will teach will not easily believe what we teach, so it would be better for us not to teach other people before we have good knowledge about the investments we make and have also had results from them. the investment we make, you are right, everyone can of course learn Bitcoin because if we have capital then we can buy and store it and must store it well in the wallet you use.

Even though people like to see results, to me it seems that it is not necessary to actually have to show results, but it is much more important for the teacher to show personal knowledge (and experience) in regards to the topic.  Results can sometimes take several years to play out, and so anyone should realize that if they actually wait for results before getting into an investment, then the actual results could take away from future performance when it may have had been better to get in prior to the results.

Sure shitcoins sell expected performance all of the time, so there are needs to have some foundational ideas why something is not ONLY good on paper but has something to back it up - yet we know at the same time, with something like bitcoin, it may well take a real long time to really learn about it, but that should not necessarily stop a newbie from investing into bitcoin and learning it along the way and while continuing to invest.  Sometimes newbies will invest into something with a lump sum from the start and maybe a bit of front loading of the investment, but there may well also be good ideas to continue to invest into it - which of course is referring to some kind of a DCA approach towards the investment..

[Odohu]

How can a person invest in Bitcoin if they don't know about Bitcoin? Here's an investor needs to know about Bitcoin first.

You seem to be missing the point. Being aware of Bitcoin, which is usually the first step, does not mean you have sound knowledge. And having sound knowledge requires you at least own some Bitcoin. You cannot claim to have sound knowledge when you have not had the feeling of being invested in Bitcoin, the knowledge will be incomplete which is what the caption of this thread said.

Let  me use some tips on how to protect one's wallet as an example. Assuming you are a supposed expert in wallet security but you do not have some Bitcoin to test your knowledge, how do you know that your security features are actually effective? I think having Bitcoin is truly what makes the knowledge complete.