Buy Buy Buy or Sell Sell Sell?

[Kelward]

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,

This has been said countless time here by JJG that as a newbie who is about getting started with Bitcoin investment you don't necessarily need to learn everything before getting started with Bitcoin investment, the basic knowledge should be enough for you to get started but if you also feel that learning the whole thing is the best approach for you then you have every right to do as you wish but I must let you know that it is almost impossible for you to learn everything without getting started. so to avoid wasting a whole lot of time in trying to figure out everything about Bitcoin investment I will advise you focus on getting the basic knowledge and also figure out your discretionary income to enable you get started as soon as possible, while accumulating Bitcoin there are some certain things  you will experience which you might not be told or have a clue of if you had waited.

Ofcourse it has been discussed countless times on this thread and most of us here are in agreement that you don't need to learn Bitcoin technology as a course to be able to buy and hodl it for investment. My phrase is that you just need basic knowledge about your Bitcoin wallet and reliable source to buy from, with this you can start and gradually be gaining experience about effective buying methods like DCA and some technicalities.

I doubt that up to 30% of the total Bitcoin holders understands deeply about Bitcoin Blockchain or what it means that mempool is congested, as far as they believe that their Bitcoin is safe they only focus on DCA method. Gaining experience is a plus for every Bitcoin investors but till they do what is important is that Bitcoin is not a scam unlike shitcoins that will be dead before you start gaining their experiences.

[Jostern]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows. 

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

Judging from your date of registration, you have been here for two months, and looking at your statement, you seems to be making a blunder in your statement, because I don’t really understand how you think it’s reasonable to learn everything about bitcoin before you can start investing,

Well for your information and enlightenment, you don’t really require to get all the information or having all the knowledge about bitcoin before you can get started with investing in bitcoin, we don’t need all the knowledge and you don’t need all that knowledge you’re talking about.

Having basic knowledge mostly especially having a discretionary income and then having to know how and where to buy bitcoin and the safest place to store and hold or bitcoin as well, talking about experience is only when you know about something and you have started it that is when you can start having experience, you don’t need experience just buy Bitcoin.

So I will ask you this question @Abelly have you been buying bitcoin or you’re waiting to have all the knowledge and experience before you can start buying bitcoin ?

Have you been buying bitcoin. ?

[Tmoonz]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows. 

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

I want you to know that no one gets to know everything about Bitcoin, knowledge about Bitcoin is so wide that you can get enough of it instead of is a continuous learning process hence it is awkward to think you can learn everything about Bitcoin and any attempt of having that mindset of knowing it all first will only lead you in to not investing at all, all what you needed is to have a basic knowledge while you keep learning as time progresses. Your first statement and other part of your post seems so contradictory to me.

[Jaksonhard]

indeed , i agree with you experience comes with time but preparation should come first striking a good balance between learning and action is what helps investors avoid panic and make better long term decisions. investors don't have to know everything to start but you should know enough not to react. A small planning and understanding can go a long way in making  smarter investment choices.

While an investor doesn't need to know everything to start investing in Bitcoin, every investor will be better off if they know everything and become more savvy than the average Bitcoin trader. Knowledge and experience never diminish when someone has more knowledge, because generally, people who are quite knowledgeable about certain things won't panic easily when faced with a price drop or something similar. And besides being less prone to panic, it will also be easier to develop a long-term investment plan that will keep them moving forward in buying Bitcoin and also continue to work towards increasing their income so they can buy more Bitcoin.

Although no one needs to have full knowledge on Bitcoin to begin investing, anyone who is educated than the average investor, and is educated about Bitcoin, will be a better investor and make more informed decisions regarding their Bitcoin investments. For example, the person who has extensive knowledge of a certain subject is typically far less likely to react emotionally to a price dip than the person who does not have much knowledge surrounding that subject. The knowledgeable investor is also far more capable of developing a long-term strategy for making Bitcoin purchases while continuing to build on their income so that they can continue to make purchases of Bitcoin.

[WhoYouCantKill]

[snipped]

Of course no one wants to lose money.. so they will start to get nervous and even suffer from loss aversion,... yet if they can convince themselves that they are investing 10 years or more, then they might get themselves to become less emotionally attached to how their holdings happens to be performing during shorter timelines.

There surely are difficulties for guys to commit to 10 years or longer, even when they might say they are "in it for the long term," they still have some difficulties with the idea of locking up value for so many years (10 years or longer). .. yet it probably would be for their own good to get into some kind of a mindset that the investment is long term, and if they cannot emotionally deal with the fact that they are locking up their money for that long, then maybe they should reduce their weekly investment amount so that they are investing with money that they are not so emotionally attached to.

Yes, I understand people need to have fun too.. so they have to keep some money for themselves to have some fun, from time to time, even if they might be also attempting to somewhat aggressively invest into bitcoin... They can maybe save up to buy something for themselves (such as a phone or a motorcycle or a vacation or some other thing that they would like to have) even while they continue to ongoingly and persistently invest in bitcoin.

I see a lot of people who claim to be long term investors but emotionally they’re still end up constantly monitoring prices like short term traders, and this mismatch is exactly what creates stress and tension in them. When folks consider the long term trajectory, say 10 years+, it becomes extremely helpful for the investor, not because it completely removes the risks involved in investing but because it takes away the short term noise from the equation and puts it where it really belongs. And since it is the short term noise that mostly pushes investors into being emotionally and jumping into hasty decisions, this could be potentially avoided.

Again, reducing the investment size when emotions feel heavy really shows just how mature an investor really is, it is a sign of strength and not weakness. When one invests too aggressively, then such investment may most likely keep him awake at night. But when the amount that they’re investing feels somewhat manageable, then it’ll definitely become pretty easier for them to be disciplined and consistent in their accumulation journey.

I also believe that the point you made about enjoying life does really matter a lot, more than a lot of investors would admit. Sometimes, investing may often feel like constant self denial, and it becomes easier for resentment to build and eventually discipline may most likely reduce, thus making it essential to give yourself a break and at least reward yourself for the work you’re doing by at least allowing some space for enjoyment and buying something meaningful for yourself, as this would also make the long journey to be sustainable. Inasmuch as it’s important to focus on one’s investment, the truth still remains that investing is meant to support life and not to compete with it.

In conclusion. Time calms emotion, when your investment is in the right size, you’ll most likely remain disciplined and a balanced life keeps one committed to the goal. And when these three factors align, then investing starts feeling more like a steady confident habit than a sacrifice.

[Bigjoe33]

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

My dear, it is nearly impossible to learn everything. Bitcoin investments does not really require you to learn everything before you start your investment, No No! All you need to get started with your investment is your ability to figure out what your discretionary income is, that is money that is left after you have sorted out your basic needs. With this discretionary income, you can begin your investment and as you go, you can learn gradually how best to followup your investment and manage your income.

Offcourse, the investor can still choose to start out his investment with little amount using the DCA strategy since he is just a novice and really has no idea about Bitcoin investment, and with time, he can increase his DCAing amount gradually to soothe his income Cash flow. This will help him manage his income properly while carrying out a good planned income allocation. So getting started gives you more opportunity to learn better

[NewRevelation]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows. 

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

It is never possible to learn everything all at once before you will begin your investment, this is a workg statement and might mislead other new investors like you, because, clearly, you are a newbie. So here is the thing, you don't need to learn everything before you start, all you need us just the basic knowledge of figuring out your discretionary income, and then you can begin your investment. If you have started the investment, you can now slowly learn more about investing and the better ways you can balance your cash flow and your weekly or monthly buying of Bitcoin using the DCA strategy.

[Silikiem]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows.  

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

No mate, you don’t need to learn everything about bitcoin first before you can buy bitcoin because of a truth you can never learn everything about bitcoin. Even those who are old in the game are still learning everyday even as they’re accumulating and investing in bitcoin, not to talk of you a newbie who’s just getting started. So, instead of you wasting time trying to learn and understand everything about bitcoin you should thought it wise to use that time to figure out just a discretionary income to use and buy bitcoin and hold for the long term goal and gradually build up your portfolio. That time you’re wasting to learn everything would have been used to stack up a reasonable amount of bitcoin stash in your portfolio. As time goes on you’ll be able to learn and unlearn more and understand more about bitcoin and make important investment decision which will further improve your investment for the long term goal.

[sotelorene]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows. 

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

If you have a good income, then you will definitely invest in Bitcoin, but what will a person whose discretionary income is low do? If he also wants to invest in Bitcoin, the solution in this case is to invest in Bitcoin according to the DCA method. Even for a high-income person, Bitcoin DCA method plays a significant role. And a low-income person can also invest in Bitcoin according to his ability, only if he adopts the DCA method. It is not enough to think only about income, you must have the ability to take the risk of investing, and only by adopting a strategy will it be possible to be successful.

Using the word taking responsibility of investing in Bitcoin would be much better instead of taking risk of investment in Bitcoin and some people believe they can only invest when they have a huge source of income and some believe and think it is very hard to invest in Bitcoin simply because they have a wrong mentality ( they think it is impossible to buy or purchase Bitcoin little by little), and this is what is delaying so many folks out there because they don't know about the DCA method.

[JayJuanGee]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows.  

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

It has been repeated over and over that you don't need to know everything about bitcoin before getting started. You can learn as you go, and in order to get started all you need to know (or be able to figure out) is if you have discretionary funds.  It is also helpful if you have common sense, so you start out in a way that is reasonable to your situation which would likely mean starting out small and then increasing your investment level (whether weekly or otherwise) as you get more comfortable and knowledgable about bitcoin.. so the knowledge and comfort can be built along the way. It is not necessary to build the knowledge and comfort before getting started investing in bitcoin.

indeed , i agree with you experience comes with time but preparation should come first striking a good balance between learning and action is what helps investors avoid panic and make better long term decisions. investors don't have to know everything to start but you should know enough not to react. A small planning and understanding can go a long way in making  smarter investment choices.

Yes, I agree with you, my friend. It's true that when we want to start investing, like in Bitcoin, it's crucial to learn a little about the asset we're investing in. Just like with Bitcoin, when we already know and want to invest in it, we definitely need to understand what Bitcoin is and what makes it such a powerful asset. So, if we understand the key points of Bitcoin itself and its inherent value, we won't hesitate to invest in it. I don't think anyone who doesn't know the value of Bitcoin would immediately invest in Bitcoin. Essentially, to generate interest, we need to at least understand what Bitcoin is.

So, don't just rely on FOMO. Just because Bitcoin is so popular, we end up buying Bitcoin without even knowing what it is. I think that's a reckless and unhealthy move. Believe me, someone who buys Bitcoin without understanding what it is will certainly panic and sell when the market corrects. Therefore, they certainly won't be long-term investors in Bitcoin. So for that reason, we don't need to panic about missing out. Because learning and finding out about Bitcoin won't take long, and I think it'll be done in an hour. So, in essence, I believe basic knowledge about Bitcoin is absolutely essential for potential new investors.

An important thing in bitcoin is getting started, even if you just start with investing $10, so there is no need to put barriers to suggest that there is a need to study bitcoin prior to getting started.. and the main thing to start out with is an ability to determine if you have $10 or not. and also to have some common sense, since people with common sense would realize to adjust their investment size to the level of their comfort and understandingl, which might be why it might be good to start with $10 as a guy looks further into the matter.

Any investor who wishes to buy Bitcoin and has $1 as discretionary income still has to workaround his finances to have more discretionary income available, even if it's up to $5 or thereabout. This is mainly because with $1, it would be very difficult to buy Bitcoin of that worth via P2P as many ads status starts at around $3.5, even to buy USDT. If the investor has $1 weekly, then the best thing for him or her is to save it up for the $4 or $5 for a month and turn his accumulation to monthly period while he continues to work on his finances to increase his discretionary income to increase his buying amounts.

Investing with $1 weekly or $4 monthly is like making a mockery of your time because what can you achieve with that?
Any Bitcoin investor that found himselves in such a dip shit should be working on his finances by looking for an additional source of discretionary income because since your success is determined by the size of stash in your possession, you can't be investing only $4 monthly and be expected something good because in as much as consistency is very important, investing only $4 monthly for 10 years will be $480 invested, so how can such low figure changes your financial history forever?
So if any Bitcoin investor found himself in such a dip shit, he should prioritize looking for an additional source of discretionary income, so as to be able to build up a reasonable stash of Bitcoin on the longer run.

We likely realize that investing small amounts is better than investing none.. but yeah, $4 per month seems pretty low, and such a person who ONLY can muster up $4 per month might not be in a position to be investing in bitcoin .. yet i would not discourage anyone from investing, since it could be possible that the person has not figured out any ways to increase their discretionary income to have more money so they have to decide whether or not to invest into bitcoin from what they have, and yeah, even $40 over 10 years does not seem like a meaningful amount of money, yet they might still be in a better position for having had invested into bitcoin as compared with not.. as long as they were both able to invest in bitcoin and also able to secure their bitcoin for 10 years, too. it is such a low amount it is hard to believe it is even possible for someone to be able to save in that kind of a way and such small amounts, since bitcoin nor satoshis are not physical objects...

Right now for a dollar a person is getting right around 1,133 satoshis, so $4 would buy right around 4,533 satoshis, and surely it seems each dollar is going to get fewer satoshis with the passage of time... and even if satoshis go up 10x or 100x, the amount might not be great, but it still may well put the person in a better place for having had saved and built up the satoshis, even though the amount is seeming to be such a low amount.  By the way, when dealing with such small amounts, it becomes more challenging to employ self-custody too.. so there could be risks of third party custody that also exists when a person is trying to buy such small amounts.  I think that some of the exchanges that I have used have had $5 minimums, yet I understand there are likely places were the minimum transaction amounts are lower than $5.

[snipped]

Of course no one wants to lose money.. so they will start to get nervous and even suffer from loss aversion,... yet if they can convince themselves that they are investing 10 years or more, then they might get themselves to become less emotionally attached to how their holdings happens to be performing during shorter timelines.

There surely are difficulties for guys to commit to 10 years or longer, even when they might say they are "in it for the long term," they still have some difficulties with the idea of locking up value for so many years (10 years or longer). .. yet it probably would be for their own good to get into some kind of a mindset that the investment is long term, and if they cannot emotionally deal with the fact that they are locking up their money for that long, then maybe they should reduce their weekly investment amount so that they are investing with money that they are not so emotionally attached to.

Yes, I understand people need to have fun too.. so they have to keep some money for themselves to have some fun, from time to time, even if they might be also attempting to somewhat aggressively invest into bitcoin... They can maybe save up to buy something for themselves (such as a phone or a motorcycle or a vacation or some other thing that they would like to have) even while they continue to ongoingly and persistently invest in bitcoin.

I see a lot of people who claim to be long term investors but emotionally they’re still end up constantly monitoring prices like short term traders, and this mismatch is exactly what creates stress and tension in them. When folks consider the long term trajectory, say 10 years+, it becomes extremely helpful for the investor, not because it completely removes the risks involved in investing but because it takes away the short term noise from the equation and puts it where it really belongs. And since it is the short term noise that mostly pushes investors into being emotionally and jumping into hasty decisions, this could be potentially avoided.

I don't see any problem with monitoring the BTC price as long as price movements do not affect the bitcoin accumulation plan and/or the maintenance of the bitcoin holdings plan. so for example, if a person is buying $100 worth of bitcoin every week no matter what, then maybe the guy might try to buy the dip within the week, yet overall, he knows that he is buying within the week and he gives himself start and end dates for the week, and he knows that the next week he is going to have another $100.

I personally like the idea of manually buying the bitcoin every week, yet surely there are some guys who might set their weekly buys in ways that are automatic, so that they do not have to think about it, except just to make sure that they have enough money in the account each week so that the automatic purchase can be made from the account that it is drawing from.

Again, reducing the investment size when emotions feel heavy really shows just how mature an investor really is, it is a sign of strength and not weakness. When one invests too aggressively, then such investment may most likely keep him awake at night. But when the amount that they’re investing feels somewhat manageable, then it’ll definitely become pretty easier for them to be disciplined and consistent in their accumulation journey.

Yep.. sometimes adjustments might need to be made based on various financial and/or psychological circumstances that might change from time to time...

Yet if a person had set out a 6 month bitcoin buying schedule, and he knew that he would be authorizing $100 per week for bitcoin, then he  would know that he needs to have $2,600 for that whole period, and maybe he has some of that money in his account in advance or maybe he has the majority of that money coming from his paycheck so perhaps he has a practice of trying to keep at least $1k in his banking account at all times and his BTC DCA is being drawn from his bank account, and as he has his paycheck coming in and his expenses getting spent, he monitors his bank account and he projects it into the future for each month, and many times the account has balances that fluctuate between $3,000 and $1,200 and perhaps only  once or twice a month does it go as low as $1k.. which makes him nervous during those days that his account is at its minimum amount, but it tends to be a few days right before he gets paid, so he does not have to be worried for very much time.  

So if some of his income goes down and/or his expenses increase, he usually has to make some adjustments, but if he is not easy to adjust, he knows that one of the expenses that he will end up having to cut is the amount that he puts into bitcoin, so maybe he knows that one month from now he is going to have some issues with either (or both) his income and/or his expenses, so after he made all of the adjustments and he cannot get anything to work out, he decided that he has to reduce his bitcoin investment amount down from $100 per week to $30 per week for the next 7 weeks, and then after that he can return to $100 per week.  So, the guy might be stressed about the situation, but he made the adjustment in advance in order to make sure that his account never goes below $1k.  The guy might also have some other emergency funds that he can draw from if the situation gets worse, and so it feels good to be able to have options in the adjustments that he could make, yet he might learn a lesson from his situation in order to try to not get himself into a simlar kind of cash short-fall situation in the future.

I also believe that the point you made about enjoying life does really matter a lot, more than a lot of investors would admit. Sometimes, investing may often feel like constant self denial, and it becomes easier for resentment to build and eventually discipline may most likely reduce, thus making it essential to give yourself a break and at least reward yourself for the work you’re doing by at least allowing some space for enjoyment and buying something meaningful for yourself, as this would also make the long journey to be sustainable. Inasmuch as it’s important to focus on one’s investment, the truth still remains that investing is meant to support life and not to compete with it.

In conclusion. Time calms emotion, when your investment is in the right size, you’ll most likely remain disciplined and a balanced life keeps one committed to the goal. And when these three factors align, then investing starts feeling more like a steady confident habit than a sacrifice.

I think that even though there might be ups and downs along the way, especially if we might review our cashflow situation over several year, I would personally speculate that any guys who are ongoingly trying to build and to learn and to attempt to improve from the learnings and trying to stay in touch with measuring changes, then with the passage of time, as the bitcoin holdings grows, then likely the cash back ups and the cash options build too.. .so that a guy increasingly has more cushions as his networth grows...and so he does not have to reach his ultimate goal of being able to live off of his bitcoin and to quit his job before he is already able to start to feel material improvements in both his finances and his psychology that comes with the passage of time, yet a passage of time that had included building and learning along the way.

Let me make one more point related to the matters discussed above:

I am pretty sure that you are a younger investor @WhoYouCantKill (so you have not already built up much of an investment portfolio), yet I am going to give an example that might not exactly apply to your situation, yet my example is still an attempt to illustrate a bit of a point about how a person might be working from a certain state and then setting various goals for himself based on his perception of his investment/work history, where he got in terms of the building of his investment and what he is anticipating into his investment future..

Let's say that 5.5 years ago a guy learned about bitcoin and he had an income of around $30k decided that he was both going to make a plan around bitcoin and to get into bitcoin, and at that time, he was in his mid 30s, and at that time, he had largely already been saving and investment since his early 20s (so he is a bit of an aberration since he already had been investing), yet he had some expenses along the way (maybe college) and so 5.5 years ago (in mid 2020), he thought that was doing pretty good since he had been able to accomplish investing around $30k over the previous 10-ish years into various non-bitcoin investments, and the quasi-liquid value of his then investment was worth about $55k.  He had also built up sufficient back up funds (such as 4.5 months of his expenses), and so he expected that his traditional investment to potentially grow around 6% or so per year and so maybe double in value every 8-10 years.  

Yet since he was a bit excited about bitcoin, he decided that he was going to invest about $25k into bitcoin by taking that money out of his traditional investment stash (which would get him 2.5 BTC to start since bitcoin was then priced at about $10k), and then over the next 5-ish years (starting about 2 months after his initial BTC purchase) he was going to invest around $200 per week into bitcoin, which he considered it to be quite aggressive, yet he was gaining some job security and he could see himself getting promotions in the coming years and being able to afford $200 per week on average, and so he estimated that each year, he would end up investing right around $10k (perhaps slightly more if he gets some bonuses along the way) and so he was thinking that within a few years, he may well be able to accumulate another 2.5 BTC and therefore get to a target bitcoin accumulation amount of around 5 BTC or maybe more.

His target was to get to 5 BTC.

So then now we can see that over the last 5.5 years, maybe the guy had ended up investing an additional $55k into bitcoin, which is more or less what he was thinking that he could achieve, yet since the BTC price went up and down in that time (mostly up), he was only able to accumulate about 1.6 BTC, so his current quantity of bitcoin is merely 4.1 BTC.. a bit less than his goal, yet in total, he had only invested around $80k into his bitcoin investment ($25k initially and then $55k over the past 5.5 years).

At this time, the guy is still fairly young and he is in his early 40s, and he was hoping by the time he got into his late 40s or early 50s, he would be able to retire from his current work and start to live off of his bitcoin at $80k per year with a 7% increase in his income each year.  Even with his current quantity of BTC, he seems to be on track, perhaps even by 2030 or so to be able to start to live off of his bitcoin at his target rate of $80k per year, and yeah if the dollar continues to debase he started to think that he might have to move his target starting withdrawal rate to $100k per year.. .yet he still seems to be on track to accomplish such by perhaps as early as 2030 yet, even more likely to be able to do so by the time that he turns 50 in 2035-ish.  

Even right now with what the guy has accomplished in his bitcoin accumulation up until now, he considers that there could be some time that he either considers that he has enough bitcoin or maybe he can start to slow down in his bitcoin accumulation and to buttress other aspects of his financial life, since it seems that his bitcoin is doing fine, yet at the same time, he had reduced his traditional investment in late 2020 from $55k and down to $30k, and perhaps his traditional investment had doubled in value from $30k to $60k in the past 5.5-ish years.. and so he can consider if he might need other areas of investment besides his bitcoin investment and maybe he just keeps a target of around 2035 for his plan to start to live off of his bitcoin...

Such a guy can continue to monitor his situation and the value of his bitcoin holdings.. and perhaps weighing the extent to which he wants to stay in his current employment or not, which his bitcoin holdings seems to have had given him options to be able to live off an income that is equal to his current income or perhaps even higher levels of income, and such guy would not have had those options if he had not invested into bitcoin in the past 5.5-ish years.

[Crytohillss]

The skills that are needed to invest in bitcoin are basic.. which is being able to figure out whether or not you have discretionary funds and also common sense so that you do not do dumb shit.  Almost everyone either has the basic necessary skills even though it may well take several years to put the skills together and good at investing into bitcoin and managing cashflows.  

Accordingly, it is good to get started as soon as possible for anyone who can at least determine that he has discretionary funds and he can figure out and hone the various skills and learn whatever else that he needs to learn as he goes.

Regarding risk most normal people with common sense do not invest in order to lose money, so common sense would dictate to start investing with amounts that are deemed reasonable, and to increase the amounts invested as the comfort level increases...

Of course in the very beginning a person might not realize his investment timeline to be 4-10 years or longer, so he might have to learn that he is an investor rather than a trader, and so in bitcoin there are likely a lot of uncertainties to try to invest in less than 4 years , so less than 4 years would be trading rather than investing.

Well said and I agree with you, it’s better  to get started with bitcoin accumulation once we’re able to figure out a discretionary income to invest with rather than trying to know everything about bitcoin before getting started. One experience they say is the best teacher, and from the experience gained in our ongoing bitcoin accumulation and investment we will be able to learn and also unlearn more as time goes on so as to make important decisions regarding our investments. The most important thing here is to be able to know if there’s availability of a discretionary income to use and buy bitcoin.

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,
we gain real Experience about the Market, Risks and our own mentality over time, this experience Helps us make better decisions in the Future. If we have extra income with which we can use and store Bitcoin without Stress!

It has been repeated over and over that you don't need to know everything about bitcoin before getting started. You can learn as you go, and in order to get started all you need to know (or be able to figure out) is if you have discretionary funds.  It is also helpful if you have common sense, so you start out in a way that is reasonable to your situation which would likely mean starting out small and then increasing your investment level (whether weekly or otherwise) as you get more comfortable and knowledgable about bitcoin.. so the knowledge and comfort can be built along the way. It is not necessary to build the knowledge and comfort before getting started investing in bitcoin.

indeed , i agree with you experience comes with time but preparation should come first striking a good balance between learning and action is what helps investors avoid panic and make better long term decisions. investors don't have to know everything to start but you should know enough not to react. A small planning and understanding can go a long way in making  smarter investment choices.

Yes, I agree with you, my friend. It's true that when we want to start investing, like in Bitcoin, it's crucial to learn a little about the asset we're investing in. Just like with Bitcoin, when we already know and want to invest in it, we definitely need to understand what Bitcoin is and what makes it such a powerful asset. So, if we understand the key points of Bitcoin itself and its inherent value, we won't hesitate to invest in it. I don't think anyone who doesn't know the value of Bitcoin would immediately invest in Bitcoin. Essentially, to generate interest, we need to at least understand what Bitcoin is.

So, don't just rely on FOMO. Just because Bitcoin is so popular, we end up buying Bitcoin without even knowing what it is. I think that's a reckless and unhealthy move. Believe me, someone who buys Bitcoin without understanding what it is will certainly panic and sell when the market corrects. Therefore, they certainly won't be long-term investors in Bitcoin. So for that reason, we don't need to panic about missing out. Because learning and finding out about Bitcoin won't take long, and I think it'll be done in an hour. So, in essence, I believe basic knowledge about Bitcoin is absolutely essential for potential new investors.

An important thing in bitcoin is getting started, even if you just start with investing $10, so there is no need to put barriers to suggest that there is a need to study bitcoin prior to getting started.. and the main thing to start out with is an ability to determine if you have $10 or not. and also to have some common sense, since people with common sense would realize to adjust their investment size to the level of their comfort and understandingl, which might be why it might be good to start with $10 as a guy looks further into the matter.

Any investor who wishes to buy Bitcoin and has $1 as discretionary income still has to workaround his finances to have more discretionary income available, even if it's up to $5 or thereabout. This is mainly because with $1, it would be very difficult to buy Bitcoin of that worth via P2P as many ads status starts at around $3.5, even to buy USDT. If the investor has $1 weekly, then the best thing for him or her is to save it up for the $4 or $5 for a month and turn his accumulation to monthly period while he continues to work on his finances to increase his discretionary income to increase his buying amounts.

Investing with $1 weekly or $4 monthly is like making a mockery of your time because what can you achieve with that?
Any Bitcoin investor that found himselves in such a dip shit should be working on his finances by looking for an additional source of discretionary income because since your success is determined by the size of stash in your possession, you can't be investing only $4 monthly and be expected something good because in as much as consistency is very important, investing only $4 monthly for 10 years will be $480 invested, so how can such low figure changes your financial history forever?
So if any Bitcoin investor found himself in such a dip shit, he should prioritize looking for an additional source of discretionary income, so as to be able to build up a reasonable stash of Bitcoin on the longer run.

We likely realize that investing small amounts is better than investing none.. but yeah, $4 per month seems pretty low, and such a person who ONLY can muster up $4 per month might not be in a position to be investing in bitcoin .. yet i would not discourage anyone from investing, since it could be possible that the person has not figured out any ways to increase their discretionary income to have more money so they have to decide whether or not to invest into bitcoin from what they have, and yeah, even $40 over 10 years does not seem like a meaningful amount of money, yet they might still be in a better position for having had invested into bitcoin as compared with not.. as long as they were both able to invest in bitcoin and also able to secure their bitcoin for 10 years, too. it is such a low amount it is hard to believe it is even possible for someone to be able to save in that kind of a way and such small amounts, since bitcoin nor satoshis are not physical objects...

Right now for a dollar a person is getting right around 1,133 satoshis, so $4 would buy right around 4,533 satoshis, and surely it seems each dollar is going to get fewer satoshis with the passage of time... and even if satoshis go up 10x or 100x, the amount might not be great, but it still may well put the person in a better place for having had saved and built up the satoshis, even though the amount is seeming to be such a low amount.  By the way, when dealing with such small amounts, it becomes more challenging to employ self-custody too.. so there could be risks of third party custody that also exists when a person is trying to buy such small amounts.  I think that some of the exchanges that I have used have had $5 minimums, yet I understand there are likely places were the minimum transaction amounts are lower than $5.

[snipped]

Of course no one wants to lose money.. so they will start to get nervous and even suffer from loss aversion,... yet if they can convince themselves that they are investing 10 years or more, then they might get themselves to become less emotionally attached to how their holdings happens to be performing during shorter timelines.

There surely are difficulties for guys to commit to 10 years or longer, even when they might say they are "in it for the long term," they still have some difficulties with the idea of locking up value for so many years (10 years or longer). .. yet it probably would be for their own good to get into some kind of a mindset that the investment is long term, and if they cannot emotionally deal with the fact that they are locking up their money for that long, then maybe they should reduce their weekly investment amount so that they are investing with money that they are not so emotionally attached to.

Yes, I understand people need to have fun too.. so they have to keep some money for themselves to have some fun, from time to time, even if they might be also attempting to somewhat aggressively invest into bitcoin... They can maybe save up to buy something for themselves (such as a phone or a motorcycle or a vacation or some other thing that they would like to have) even while they continue to ongoingly and persistently invest in bitcoin.

I see a lot of people who claim to be long term investors but emotionally they’re still end up constantly monitoring prices like short term traders, and this mismatch is exactly what creates stress and tension in them. When folks consider the long term trajectory, say 10 years+, it becomes extremely helpful for the investor, not because it completely removes the risks involved in investing but because it takes away the short term noise from the equation and puts it where it really belongs. And since it is the short term noise that mostly pushes investors into being emotionally and jumping into hasty decisions, this could be potentially avoided.

I don't see any problem with monitoring the BTC price as long as price movements do not affect the bitcoin accumulation plan and/or the maintenance of the bitcoin holdings plan. so for example, if a person is buying $100 worth of bitcoin every week no matter what, then maybe the guy might try to buy the dip within the week, yet overall, he knows that he is buying within the week and he gives himself start and end dates for the week, and he knows that the next week he is going to have another $100.

I personally like the idea of manually buying the bitcoin every week, yet surely there are some guys who might set their weekly buys in ways that are automatic, so that they do not have to think about it, except just to make sure that they have enough money in the account each week so that the automatic purchase can be made from the account that it is drawing from.

Again, reducing the investment size when emotions feel heavy really shows just how mature an investor really is, it is a sign of strength and not weakness. When one invests too aggressively, then such investment may most likely keep him awake at night. But when the amount that they’re investing feels somewhat manageable, then it’ll definitely become pretty easier for them to be disciplined and consistent in their accumulation journey.

Yep.. sometimes adjustments might need to be made based on various financial and/or psychological circumstances that might change from time to time...

Yet if a person had set out a 6 month bitcoin buying schedule, and he knew that he would be authorizing $100 per week for bitcoin, then he  would know that he needs to have $2,600 for that whole period, and maybe he has some of that money in his account in advance or maybe he has the majority of that money coming from his paycheck so perhaps he has a practice of trying to keep at least $1k in his banking account at all times and his BTC DCA is being drawn from his bank account, and as he has his paycheck coming in and his expenses getting spent, he monitors his bank account and he projects it into the future for each month, and many times the account has balances that fluctuate between $3,000 and $1,200 and perhaps only  once or twice a month does it go as low as $1k.. which makes him nervous during those days that his account is at its minimum amount, but it tends to be a few days right before he gets paid, so he does not have to be worried for very much time.  

So if some of his income goes down and/or his expenses increase, he usually has to make some adjustments, but if he is not easy to adjust, he knows that one of the expenses that he will end up having to cut is the amount that he puts into bitcoin, so maybe he knows that one month from now he is going to have some issues with either (or both) his income and/or his expenses, so after he made all of the adjustments and he cannot get anything to work out, he decided that he has to reduce his bitcoin investment amount down from $100 per week to $30 per week for the next 7 weeks, and then after that he can return to $100 per week.  So, the guy might be stressed about the situation, but he made the adjustment in advance in order to make sure that his account never goes below $1k.  The guy might also have some other emergency funds that he can draw from if the situation gets worse, and so it feels good to be able to have options in the adjustments that he could make, yet he might learn a lesson from his situation in order to try to not get himself into a simlar kind of cash short-fall situation in the future.

I also believe that the point you made about enjoying life does really matter a lot, more than a lot of investors would admit. Sometimes, investing may often feel like constant self denial, and it becomes easier for resentment to build and eventually discipline may most likely reduce, thus making it essential to give yourself a break and at least reward yourself for the work you’re doing by at least allowing some space for enjoyment and buying something meaningful for yourself, as this would also make the long journey to be sustainable. Inasmuch as it’s important to focus on one’s investment, the truth still remains that investing is meant to support life and not to compete with it.

In conclusion. Time calms emotion, when your investment is in the right size, you’ll most likely remain disciplined and a balanced life keeps one committed to the goal. And when these three factors align, then investing starts feeling more like a steady confident habit than a sacrifice.

I think that even though there might be ups and downs along the way, especially if we might review our cashflow situation over several year, I would personally speculate that any guys who are ongoingly trying to build and to learn and to attempt to improve from the learnings and trying to stay in touch with measuring changes, then with the passage of time, as the bitcoin holdings grows, then likely the cash back ups and the cash options build too.. .so that a guy increasingly has more cushions as his networth grows...and so he does not have to reach his ultimate goal of being able to live off of his bitcoin and to quit his job before he is already able to start to feel material improvements in both his finances and his psychology that comes with the passage of time, yet a passage of time that had included building and learning along the way.

Let me make one more point related to the matters discussed above:

I am pretty sure that you are a younger investor @WhoYouCantKill (so you have not already built up much of an investment portfolio), yet I am going to give an example that might not exactly apply to your situation, yet my example is still an attempt to illustrate a bit of a point about how a person might be working from a certain state and then setting various goals for himself based on his perception of his investment/work history, where he got in terms of the building of his investment and what he is anticipating into his investment future..

Let's say that 5.5 years ago a guy learned about bitcoin and he had an income of around $30k decided that he was both going to make a plan around bitcoin and to get into bitcoin, and at that time, he was in his mid 30s, and at that time, he had largely already been saving and investment since his early 20s (so he is a bit of an aberration since he already had been investing), yet he had some expenses along the way (maybe college) and so 5.5 years ago (in mid 2020), he thought that was doing pretty good since he had been able to accomplish investing around $30k over the previous 10-ish years into various non-bitcoin investments, and the quasi-liquid value of his then investment was worth about $55k.  He had also built up sufficient back up funds (such as 4.5 months of his expenses), and so he expected that his traditional investment to potentially grow around 6% or so per year and so maybe double in value every 8-10 years.  

Yet since he was a bit excited about bitcoin, he decided that he was going to invest about $25k into bitcoin by taking that money out of his traditional investment stash (which would get him 2.5 BTC to start since bitcoin was then priced at about $10k), and then over the next 5-ish years (starting about 2 months after his initial BTC purchase) he was going to invest around $200 per week into bitcoin, which he considered it to be quite aggressive, yet he was gaining some job security and he could see himself getting promotions in the coming years and being able to afford $200 per week on average, and so he estimated that each year, he would end up investing right around $10k (perhaps slightly more if he gets some bonuses along the way) and so he was thinking that within a few years, he may well be able to accumulate another 2.5 BTC and therefore get to a target bitcoin accumulation amount of around 5 BTC or maybe more.

His target was to get to 5 BTC.

So then now we can see that over the last 5.5 years, maybe the guy had ended up investing an additional $55k into bitcoin, which is more or less what he was thinking that he could achieve, yet since the BTC price went up and down in that time (mostly up), he was only able to accumulate about 1.6 BTC, so his current quantity of bitcoin is merely 4.1 BTC.. a bit less than his goal, yet in total, he had only invested around $80k into his bitcoin investment ($25k initially and then $55k over the past 5.5 years).

At this time, the guy is still fairly young and he is in his early 40s, and he was hoping by the time he got into his late 40s or early 50s, he would be able to retire from his current work and start to live off of his bitcoin at $80k per year with a 7% increase in his income each year.  Even with his current quantity of BTC, he seems to be on track, perhaps even by 2030 or so to be able to start to live off of his bitcoin at his target rate of $80k per year, and yeah if the dollar continues to debase he started to think that he might have to move his target starting withdrawal rate to $100k per year.. .yet he still seems to be on track to accomplish such by perhaps as early as 2030 yet, even more likely to be able to do so by the time that he turns 50 in 2035-ish.  

Even right now with what the guy has accomplished in his bitcoin accumulation up until now, he considers that there could be some time that he either considers that he has enough bitcoin or maybe he can start to slow down in his bitcoin accumulation and to buttress other aspects of his financial life, since it seems that his bitcoin is doing fine, yet at the same time, he had reduced his traditional investment in late 2020 from $55k and down to $30k, and perhaps his traditional investment had doubled in value from $30k to $60k in the past 5.5-ish years.. and so he can consider if he might need other areas of investment besides his bitcoin investment and maybe he just keeps a target of around 2035 for his plan to start to live off of his bitcoin...

Such a guy can continue to monitor his situation and the value of his bitcoin holdings.. and perhaps weighing the extent to which he wants to stay in his current employment or not, which his bitcoin holdings seems to have had given him options to be able to live off an income that is equal to his current income or perhaps even higher levels of income, and such guy would not have had those options if he had not invested into bitcoin in the past 5.5-ish years.

You are right dude, The techniques that needed to invest into bitcoin are fairly basic, they mainly come down to understanding whether you have discretionary income and having enough common idea to avoid doing something bad. almost everybody already has these foundational skill even if it takes several months or years to fully develop them., with time most individual can become competent at investment of bitcoin and take care of their cash flows effectively.

[Padi24]

people believe they can only invest when they have a huge source of income and some believe and think it is very hard to invest in Bitcoin simply because they have a wrong mentality ( they think it is impossible to buy or purchase Bitcoin little by little), and this is what is delaying so many folks out there because they don't know about the DCA method.

well I'm not surprised because we are all humans but different mindset and our ways of handling things differs. even though it has been said here time without number that we don't necessarily need to get a huge source of income before getting started with Bitcoin investment I know that most people will still ignore it as they will want to decide for themselves on what to do, most people seems to have forgotten that there's no fixed amount in Bitcoin investment, what really matters is having a discretionary income no matter how small it is we can still get started rather than waiting to get a huge source of income before getting started. The question is for how long did we intend to wait for this huge source of income, What if it is something that will take a lot of years probably 5-6 years or more? So the earlier we start with the little discretionary income we are getting the better for us.

[WhoYouCantKill]

[snipped]

Of course no one wants to lose money.. so they will start to get nervous and even suffer from loss aversion,... yet if they can convince themselves that they are investing 10 years or more, then they might get themselves to become less emotionally attached to how their holdings happens to be performing during shorter timelines.

There surely are difficulties for guys to commit to 10 years or longer, even when they might say they are "in it for the long term," they still have some difficulties with the idea of locking up value for so many years (10 years or longer). .. yet it probably would be for their own good to get into some kind of a mindset that the investment is long term, and if they cannot emotionally deal with the fact that they are locking up their money for that long, then maybe they should reduce their weekly investment amount so that they are investing with money that they are not so emotionally attached to.

Yes, I understand people need to have fun too.. so they have to keep some money for themselves to have some fun, from time to time, even if they might be also attempting to somewhat aggressively invest into bitcoin... They can maybe save up to buy something for themselves (such as a phone or a motorcycle or a vacation or some other thing that they would like to have) even while they continue to ongoingly and persistently invest in bitcoin.

I see a lot of people who claim to be long term investors but emotionally they’re still end up constantly monitoring prices like short term traders, and this mismatch is exactly what creates stress and tension in them. When folks consider the long term trajectory, say 10 years+, it becomes extremely helpful for the investor, not because it completely removes the risks involved in investing but because it takes away the short term noise from the equation and puts it where it really belongs. And since it is the short term noise that mostly pushes investors into being emotionally and jumping into hasty decisions, this could be potentially avoided.

I don't see any problem with monitoring the BTC price as long as price movements do not affect the bitcoin accumulation plan and/or the maintenance of the bitcoin holdings plan. so for example, if a person is buying $100 worth of bitcoin every week no matter what, then maybe the guy might try to buy the dip within the week, yet overall, he knows that he is buying within the week and he gives himself start and end dates for the week, and he knows that the next week he is going to have another $100.

I personally like the idea of manually buying the bitcoin every week, yet surely there are some guys who might set their weekly buys in ways that are automatic, so that they do not have to think about it, except just to make sure that they have enough money in the account each week so that the automatic purchase can be made from the account that it is drawing from.

That’s quite an exceptional way to look at it. I also share in your view that the real problem doesn’t really lie in keeping an eye on the price, but rather in allowing the price you’re watching to influence and affect your decisions and behavior. But as long as the accumulation plan remains consistent and unchanged, then constantly watching the price chart is most likely about just staying informed about the market rather than being reactive.

The example you gave about a fixed $100 per week buy is quite a good balance. Let’s say a person decides to slightly time within the week, then that’s more understandable because it really doesn’t in anyways interfere with the real long term goal and commitment. The real discipline lies in having that knowledge that no matter what, next week’s $100 will still come regardless of whether the current week feels bad or good.

I believe the manual buying you mentioned also has quite an underrated benefit. Manual buying is a pretty great way of reinforcing an investor’s confidence and conviction. Every week that the investor clicks the buy button is a subtle reminder that the decision he has taken is a deliberate and long term decision, and not just some kind of a background process that’s necessary for them to undergo. For a lot of folks, that act is more than enough to help them strengthen their patience and keep themselves engaged without necessarily being emotional about the whole process.
While automated buys on the other hand works pretty well for folks who knows fully well that price updates can easily sway them. Which makes automated purchases the best for them as it completely removed decision making, which in turn actually protects them from second guessing, attempting to be too clever with their buys or skipping buys due to the fact that they’re unsure of how the market might react next.

Although it really doesn’t matter which method one chooses to employ, as long as the core principle, which is the long term value and strategy is respected. The real victory goes beyond just catching the best prices, but the ability for folks to always shows up and make sure they initiate that buy every single week without any excuses.

[Xackie]

people believe they can only invest when they have a huge source of income and some believe and think it is very hard to invest in Bitcoin simply because they have a wrong mentality ( they think it is impossible to buy or purchase Bitcoin little by little), and this is what is delaying so many folks out there because they don't know about the DCA method.

well I'm not surprised because we are all humans but different mindset and our ways of handling things differs. even though it has been said here time without number that we don't necessarily need to get a huge source of income before getting started with Bitcoin investment I know that most people will still ignore it as they will want to decide for themselves on what to do, most people seems to have forgotten that there's no fixed amount in Bitcoin investment, what really matters is having a discretionary income no matter how small it is we can still get started rather than waiting to get a huge source of income before getting started. The question is for how long did we intend to wait for this huge source of income, What if it is something that will take a lot of years probably 5-6 years or more? So the earlier we start with the little discretionary income we are getting the better for us.

You are right , as long as someone is able to have that discretionary income then he is good to go, he can keep building his holdings which grows in value. For me my plan is to hold for over 8--10 years. Atlest my kids will have something valuable to secure their future when they are off age .

[PhilosopherKing]

well I'm not surprised because we are all humans but different mindset and our ways of handling things differs. even though it has been said here time without number that we don't necessarily need to get a huge source of income before getting started with Bitcoin investment I know that most people will still ignore it as they will want to decide for themselves on what to do, most people seems to have forgotten that there's no fixed amount in Bitcoin investment, what really matters is having a discretionary income no matter how small it is we can still get started rather than waiting to get a huge source of income before getting started. The question is for how long did we intend to wait for this huge source of income, What if it is something that will take a lot of years probably 5-6 years or more? So the earlier we start with the little discretionary income we are getting the better for us.

Investing with a your small percentage of your little income may not guarantee you quick wealth, it may only give you a small number of bitcoin in about a cycle, but being a low coiner is better than being a no coiner, this has been countlessly said by Mister Jay, and at this point I don't think that little income should still be a barrier to investment. So guys should quit fucking around and start investing with the little they have rather than waiting for a raise in their income before they start. Chances is that years after years, guys who were waiting for a raise in income before starting to invest, may even still be waiting forever, while inflation devalue away the little money that is left.

[SuperBitMan]

well I'm not surprised because we are all humans but different mindset and our ways of handling things differs. even though it has been said here time without number that we don't necessarily need to get a huge source of income before getting started with Bitcoin investment I know that most people will still ignore it as they will want to decide for themselves on what to do, most people seems to have forgotten that there's no fixed amount in Bitcoin investment, what really matters is having a discretionary income no matter how small it is we can still get started rather than waiting to get a huge source of income before getting started. The question is for how long did we intend to wait for this huge source of income, What if it is something that will take a lot of years probably 5-6 years or more? So the earlier we start with the little discretionary income we are getting the better for us.

Investing with a your small percentage of your little income may not guarantee you quick wealth, it may only give you a small number of bitcoin in about a cycle, but being a low coiner is better than being a no coiner, this has been countlessly said by Mister Jay, and at this point I don't think that little income should still be a barrier to investment. So guys should quit fucking around and start investing with the little they have rather than waiting for a raise in their income before they start. Chances is that years after years, guys who were waiting for a raise in income before starting to invest, may even still be waiting forever, while inflation devalue away the little money that is left.

You are right, there's no need to wait for higher salary or income before you can start investing, no matter how small that your discretionary income is you can still use it to accumulate bitcoin and hold, remember one drop of water seems insignificant but millions of drops together form an ocean. When you are using your small discretionary income to accumulate and you are consistent with it in the future you will have good amount of Bitcoin, Consistency creates greatness.
Tiny actions, when combined, lead to big results, so you don't have to say your discretionary income is too small or your income or salary is too small and even if you start accumulating Bitcoin you won't get anything good at of it stop saying all this. When you start and you are consistent it will lead you to success, any rich man you see today started from small.

[Jaksonhard]

well I'm not surprised because we are all humans but different mindset and our ways of handling things differs. even though it has been said here time without number that we don't necessarily need to get a huge source of income before getting started with Bitcoin investment I know that most people will still ignore it as they will want to decide for themselves on what to do, most people seems to have forgotten that there's no fixed amount in Bitcoin investment, what really matters is having a discretionary income no matter how small it is we can still get started rather than waiting to get a huge source of income before getting started. The question is for how long did we intend to wait for this huge source of income, What if it is something that will take a lot of years probably 5-6 years or more? So the earlier we start with the little discretionary income we are getting the better for us.

Investing with a your small percentage of your little income may not guarantee you quick wealth, it may only give you a small number of bitcoin in about a cycle, but being a low coiner is better than being a no coiner, this has been countlessly said by Mister Jay, and at this point I don't think that little income should still be a barrier to investment. So guys should quit fucking around and start investing with the little they have rather than waiting for a raise in their income before they start. Chances is that years after years, guys who were waiting for a raise in income before starting to invest, may even still be waiting forever, while inflation devalue away the little money that is left.

While small, consistent investments will not make you rich overnight, they will create a habit and long-term investment strategy that can be beneficial in the long run. A "low coin" investor is much better than a person sitting on the sidelines and making no investments. If you wait for the perfect income situation, it will usually result in a never-ending series of procrastinations and lost opportunities because inflation will continue to reduce the value of your cash savings. When you begin to invest with what you already have, it builds discipline, patience and a better understanding of how to invest. Even small investments can accumulate substantially over time. Individuals who start investing early will typically do better than those who keep thinking they can invest in the future.

[Obulis]

.

[edited out]

I think I agree with you. No one knows it all. As soon as you've learnt the essentials, start. When you start, you will learn more from the mistakes you make while taking actions. Waiting until you know it all, you might wait for ever.

I think people should understand there's no perfection anywhere, and crypto market is not exempted from that too.

In as much as we can't undermine the power in the knowledge we garner before entering into the market, we should as have in mind that will learn more when we start.

We are not talking about crypto here.  Fuck crypto.

We are talking about bitcoin.  Do you know the word bitcoin? If so, then why are you talking about shitcoins when this is a bitcoin thread?

Actually there are every reason in specificity when pointing to Bitcoin. Aside here being a BTC thread, there are talks that can make reference to shitcoins, okay, but that doesn't affect the need for a clear standing when pointing to the pioneering Bitcoin, these help particularly newbies to have a comprehensive view of the point you are trying to make instead of helpless clogging up of talk.
Funny enough eze BTC is a newbie, I guess you understand the points @ eze BTC.

[Obulis]

We Need to learn Everything about Bitcoin first, by regularly and responsibly storing Bitcoin,

This has been said countless time here by JJG that as a newbie who is about getting started with Bitcoin investment you don't necessarily need to learn everything before getting started with Bitcoin investment, the basic knowledge should be enough for you to get started but if you also feel that learning the whole thing is the best approach for you then you have every right to do as you wish but I must let you know that it is almost impossible for you to learn everything without getting started. so to avoid wasting a whole lot of time in trying to figure out everything about Bitcoin investment I will advise you focus on getting the basic knowledge and also figure out your discretionary income to enable you get started as soon as possible, while accumulating Bitcoin there are some certain things  you will experience which you might not be told or have a clue of if you had waited.

JJG actually has given a simple and ready to keep learning approach which is grab the basics and carry on with your investment journey and then keep learning.
Obviously, waiting to learn everything about Bitcoin before starting out investment looks like mission impossible because doing that might make you never to start your investment journey.
One question is
When is it that you have learned all about Bitcoin when it's not like your biology textbook? also when things likely unfolds along your investment journey?

[Cgrexp]

While small, consistent investments will not make you rich overnight, they will create a habit and long-term investment strategy that can be beneficial in the long run. A "low coin" investor is much better than a person sitting on the sidelines and making no investments. If you wait for the perfect income situation, it will usually result in a never-ending series of procrastinations and lost opportunities because inflation will continue to reduce the value of your cash savings. When you begin to invest with what you already have, it builds discipline, patience and a better understanding of how to invest. Even small investments can accumulate substantially over time. Individuals who start investing early will typically do better than those who keep thinking they can invest in the future.

Suppose a person enters the market when Bitcoin was worth $30000. And he invests $3000 at the beginning and then continues to DCA disciplinedly at $100 per week. His annual income is $3400 and this investment is 15 percent of his income from which he has invested a total of $1800 so far. Despite the fluctuations in the market, he has always remained confident and consistent. But another person who entered the market earlier than this person when Bitcoin was worth $6200 and then he invested only $1000 and did not continue to invest anything else just held on. So someone entering the market earlier does not mean that he will get good results unless that person takes advantage of it. With consistency, planning and patience, it is possible to build much more wealth than before even if he comes late. Bitcoin investment success depends on time mindset and habits not just on when you start. I am not saying that it is not good to start first or start small.  It is good to start investing without delay, but the ability or mindset to maintain that investment or continue it regularly is even more important.