Buy Buy Buy or Sell Sell Sell?

[sotelorene]

I completely get you on this. Waiting to learn more before investing will benefit you because you will get more skills.Bitcoin investment does not require extensive research; all you need is a basic understanding of how and where to buy and hold bitcoin. Once you've acquired this fundamental understanding, It is preferable to preserve reserved funds so that if a DIP occurs, people can utilize the reserved funds to acquire bitcoin at a low cost while leaving their initial accumulated quantity unchanged.

You don't need to wait to learn everything and/or learn more before start your investment, no. What you actually need to begin your investment is the knowledge and/or ability to figure out what your discretionary income is, and you can start your investment right away. While investigating, you can continue your learning process. Learning is a continuous process and doesn't stop in a day, so waiting to learn more before starting will delay your investment and will be keeping you away from investing. It's best to start immediately if you are able to discover your discretionary, and then you can learn more as you are already investing.

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

[Saltysugar99]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

In terms of investment, finding discretionary income is really important. There is not a lot to know to determine how much discretionary a person has. Only the money that will survive beyond his monthly expenses is discretionary income. But there are many people who think about investing in Bitcoin by reducing their expenses a little and creating discretionary income. I would say that instead of reducing expenses, they should think about increasing their income. Because I don't think it's right to give more priority to investing in Bitcoin by downgrading their lifestyle and reducing their responsibilities. It is their personal decision as to who will decide how.

[ejikeme24]

I completely get you on this. Waiting to learn more before investing will benefit you because you will get more skills.Bitcoin investment does not require extensive research;

Your statement is confusing from the beginning you said waiting to learn more before investing will benefit you because you will get more skills, then are the end you said Bitcoin investment does not require extensive research, What skill are you even talking about? For your information Bitcoin investment does not require much skills or strategy or whatever you call it, as a beginner all you need is to figure out your discretionary income that's after you must have gotten the basic knowledge about Bitcoin investment, then the DCA strategy is there for you to start with instead of trying to figure out more skills or strategy before getting started

[Btcdeybodi]

In terms of investment, finding discretionary income is really important. There is not a lot to know to determine how much discretionary a person has. Only the money that will survive beyond his monthly expenses is discretionary income. But there are many people who think about investing in Bitcoin by reducing their expenses a little and creating discretionary income. I would say that instead of reducing expenses, they should think about increasing their income. Because I don't think it's right to give more priority to investing in Bitcoin by downgrading their lifestyle and reducing their responsibilities. It is their personal decision as to who will decide how.

I have an objection to what you said in the area i bold, an investor needs to be disciplined before he can triumph in his investment so if you haven't reach the target level of your accumulation there is no need to live flamboyant lifestyle otherwise you might just end your investment without meeting your target. Of course it is necessary to cut down some frivolous expenses just so you can accumulate many bitcoins inasmuch as you are able to attend to basic things that are more important to you then when you have approached your investment target, you can decide to live the luxury lifestyle you so wished for yourself.

[Kuchuku]

Currently the focus is more on learning to understand investment so that under current conditions we don't invest too aggressively for the long term. This discussion is necessary because a few years ago we might have easily earned income leading us to invest very aggressively. This thinking ensures that we have a guarantee of future returns on our investments.

You must not wait till you learn everything before you can start buying and investing In bitcoin. Bitcoin investment is not too much of a rocket science study, what you only need is just a basic knowledge of how and where to buy bitcoin and hold. Once you equip yourself with this basic knowledge, the only thing that is needed of you is to figure out if you have a discretionary income to use for buying bitcoin and the moment you are able to figure out a discretionary, it’s advisable you get started immediately in buying bitcoin and hold for long term goal.

And even for a more effective learning In bitcoin investment, it is better to get started immediately if you have a discretionary income to use for buying bitcoin, it is from there you’ll be able to learn more and understand how it works just as the saying goes “we learn more by doing, and experience they say is the best teacher”. So it is better to get started in buying bitcoin with your discretionary income and along the line as you’re buying and holding you’ll be able to learn and unlearn more so as to be able to make important decisions regarding your investment to achieving your investment goal of consistent or Perherps persistent accumulation of bitcoin to build up your portfolio and reach your accumulation target or perhaps over accumulation.

Bitcoin investment does not require extensive research. It is important to have the right knowledge of Bitcoin investment. What is needed in terms of investment is the right use of Bitcoin and where to buy it and having discretionary income to hold Bitcoin is sufficient and very important It is not wise to wait while investing as it will waste time And some buying opportunities ahead may be missed. The DCA method is very important in investing in Bitcoin which becomes very effective for investors and helps in creating savings. So you can invest using discretionary income without timing the market.

[Bigjoe158]

I completely get you on this. Waiting to learn more before investing will benefit you because you will get more skills.Bitcoin investment does not require extensive research; all you need is a basic understanding of how and where to buy and hold bitcoin. Once you've acquired this fundamental understanding, It is preferable to preserve reserved funds so that if a DIP occurs, people can utilize the reserved funds to acquire bitcoin at a low cost while leaving their initial accumulated quantity unchanged.

You don't need to wait to learn everything and/or learn more before start your investment, no. What you actually need to begin your investment is the knowledge and/or ability to figure out what your discretionary income is, and you can start your investment right away. While investigating, you can continue your learning process. Learning is a continuous process and doesn't stop in a day, so waiting to learn more before starting will delay your investment and will be keeping you away from investing. It's best to start immediately if you are able to discover your discretionary, and then you can learn more as you are already investing.

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

There nothing that you want to go into that does not require learning. Either you learn it directly or indirectly. Indirectly meaning you learn from someone's mistake. A medical doctor or engineer even the road side carpenter or furniture guy must learn the trade. Same apply to Bitcoin,it is either you learn from those that have been into the BTC business or you learn from their mistakes. If you have no knowledge of anything you want to venture into then you make mistakes so learning of any trade or business paramount.

[Cossyblack]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

I agree with you. We don't need to learn everything in bitcoin before we start a bitcoin investment rather what we need is a discretionary fund. A discretionary fund is only what we needed for a start and the basic knowledge to understand how to buy bitcoin. They may be rich folks who haven't started a bitcoin investment because they don't know how to figure out a discretionary income yet because they have no idea what's a discretionary income. I think if a good numbers of people knew what's discretionary income they might be able to invest in since what people need to invest in bitcoin is discretionary income

[barisbilgili]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

I agree with you. We don't need to learn everything in bitcoin before we start a bitcoin investment rather what we need is a discretionary fund. A discretionary fund is only what we needed for a start and the basic knowledge to understand how to buy bitcoin. They may be rich folks who haven't started a bitcoin investment because they don't know how to figure out a discretionary income yet because they have no idea what's a discretionary income. I think if a good numbers of people knew what's discretionary income they might be able to invest in since what people need to invest in bitcoin is discretionary income

And regarding trust, as you said, I completely agree, and we even often discuss it here that it is indeed appropriate to invest with discretionary income. However, in addition to that, we must also have great confidence in Bitcoin. Although not much needs to be learned to start investing, if there is already strong confidence, then I think everything will go much better.

[AuchanX]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

In terms of investment, finding discretionary income is really important. There is not a lot to know to determine how much discretionary a person has. Only the money that will survive beyond his monthly expenses is discretionary income. But there are many people who think about investing in Bitcoin by reducing their expenses a little and creating discretionary income. I would say that instead of reducing expenses, they should think about increasing their income. Because I don't think it's right to give more priority to investing in Bitcoin by downgrading their lifestyle and reducing their responsibilities. It is their personal decision as to who will decide how.

You are absolutely right. Responsibility is the most important thing in Bitcoin or in any investment. It is never wise to invest by reducing your standard of living, cutting essential expenses or putting your emergency fund at risk. Investment should always be from excess or surplus money, which even if lost, will not cause a major blow to your daily life.

However, I think there is another balance here. Simply reducing expenses is not the solution, and it is also not reasonable to think that we are enjoying life by spending unnecessarily. Increasing our income in the long term is definitely the most effective way for us. By creating new sources of income or improving our career. But at the same time, it is important to examine our spending habits. We often buy things that are not really necessary due to the temptation of offers or social comparisons.

Reducing unnecessary expenses does not mean lowering the standard of living. Rather, conscious spending makes us financially stronger. For example, if we reduce unnecessary small expenses every day and put that money into regular investments, the effect will be clearly visible after a few years.  This seems like self-control to me personally, not self-sacrifice.

[Hardyrobust]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

I agree with you. We don't need to learn everything in bitcoin before we start a bitcoin investment rather what we need is a discretionary fund. A discretionary fund is only what we needed for a start and the basic knowledge to understand how to buy bitcoin. They may be rich folks who haven't started a bitcoin investment because they don't know how to figure out a discretionary income yet because they have no idea what's a discretionary income. I think if a good numbers of people knew what's discretionary income they might be able to invest in since what people need to invest in bitcoin is discretionary income

yes we don't need to have accumulated a wealth of information about bitcoin investment before we can start accumulating bitcoin. At least a basic knowledge of what bitcoin is should be enough and also we can expand our knowledge of bitcoin as times goes buy. However the basic knowledge shouldn't just be limited to how to buy bitcoin. As side knowing how to buy bitcoin there are things that we need to know before starting like the risk involved and the volatile nature of bitcoin.

[Tonimez]

Michael Saylor keeps leading the way. This is a pace setting bitcoin investment. Michael Saylor just acquired 2486 Bitcoin while other investors are busy selling off their bitcoin out of panic. DCA approach is a very good approach and the rich investors really master the act of utilising every opportunity to buy aggressively. Bitcoin should be a buy buy process as long as you are still in active service or still have a sustainable source of income. When you understand the real future of bitcoin, you will not listen to any advice that may cause you to sell.

[Sarah_Jannat42]

I completely get you on this. Waiting to learn more before investing will benefit you because you will get more skills.Bitcoin investment does not require extensive research; all you need is a basic understanding of how and where to buy and hold bitcoin. Once you've acquired this fundamental understanding, It is preferable to preserve reserved funds so that if a DIP occurs, people can utilize the reserved funds to acquire bitcoin at a low cost while leaving their initial accumulated quantity unchanged.

You don't need to wait to learn everything and/or learn more before start your investment, no. What you actually need to begin your investment is the knowledge and/or ability to figure out what your discretionary income is, and you can start your investment right away. While investigating, you can continue your learning process. Learning is a continuous process and doesn't stop in a day, so waiting to learn more before starting will delay your investment and will be keeping you away from investing. It's best to start immediately if you are able to discover your discretionary, and then you can learn more as you are already investing.

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

You are right, just like we don't learn to ride a bicycle by just reading books until we hit the road with a bicycle. Similarly, we don't need to take a degree in Bitcoin or economics to invest in Bitcoin. Losing a little money will not cause much harm in our lives, only with risk management, the importance of time, and the right knowledge can we profit by investing in Bitcoin. And yes, it must be on a long-term basis, only then can we expect good profits from Bitcoin.

[ChocolateBitcoinK]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

In terms of investment, finding discretionary income is really important. There is not a lot to know to determine how much discretionary a person has. Only the money that will survive beyond his monthly expenses is discretionary income. But there are many people who think about investing in Bitcoin by reducing their expenses a little and creating discretionary income. I would say that instead of reducing expenses, they should think about increasing their income. Because I don't think it's right to give more priority to investing in Bitcoin by downgrading their lifestyle and reducing their responsibilities. It is their personal decision as to who will decide how.

After receiving a salary, the remaining money is discretionary income, excluding the basic or necessary expenses of life until the next salary. There are many people who want to increase their discretionary income by reducing their necessary expenses, but it is not logical to reduce expenses by leaving or ignoring real life responsibilities or basic needs unfulfilled. One should spend as much as is necessary to live a normal life. And if there is a need to increase income, then one can increase one's own skills or find additional sources of income. As a result, it will be possible to achieve financial independence and improve the quality of life along with additional money.

[Brizi5000]

Considering how volatile Bitcoin price can be it is important  to have  a basic knowledge on how to invest in Bitcoin.  One must be able to figure out whether they have money  they don't want to use for at least 4 years, money that when it is removed won't trigger any emotional response. And the second thing is to find which strategy best  fit their investment plan be it the DCA ( dollar cost averaging) or Lump Sum.  In the end building wealth with Bitcoin is not about perfect timing the market it is about discipline, patience,  risk management,  and long term thinking.

I think you don't really understand how this discretionary works because when investing in Bitcoin you can not possibly sort out or figure out funds that you won't need to use for 4 years at a time but rather it gotten as we progress in our Bitcoin investment, we get our investment money from leftover in our income and for a beginner the best strategy to use is the DCA because it will allow someone to invest at any price because often time beginners are scared of investing at any price because they lack knowledge.

@Grease5000 shared a naive investment mindset there. To invest with bitcoin in a long term thinking you bound to have a solid source of income from where you can be raising your discretionary funds to constantly purchase bitcoin through the DCA method of stacking.

The money you are thinking presently of not having a use for it in the next 4 years, an emergency financial situation that demands money to sort it can arise in less than 6 months from when you would have lump-sum bought with all that money you thought you will not have need for it till 4 years.

With a source of solid income you can create an emergency funds, to prevent a premature sell of investment dew to rising emergency call. Having such funds prepares and makes an investor ready for what challenges lies ahead from the market and real world complexities.

surely it is good if folks have a solid source of income for bitcoin investment, but still not having it shouldnt be a barrier for not investing in bitcoin because all that is needed to start investing in  bitcoin is just a discretionary income, not necessarily the solid source of income youre talking about. folks or individuals can be able to start buying and investing in bitcoin the moment they are able to get a discretionary income, even if their income source is not solid, as far as from time to time they can be able to get a discretionary income to use for buying bitcoin and hold for long term investment practice. having a solid income is not a guarantee that you must be successful in bitcoin investment because there are folks out there with some solid source of income but they cannot be able to arrange a discretionary income at the end of the day to use and buy bitcoin, meanwhile there are many folks out there who doesnt have a solid income source but they are still able to get a discretionary income to use for their bitcoin investment. i think everything boils down to proper financial management skills of individuals, weather a solid income or not if you dont have good financial management skill then you will always find it difficult to get a discretionary income to invest and sustain your bitcoin investment.

[Finebone]

. Losing a little money will not cause much harm in our lives, only with risk management, the importance of time, and the right knowledge can we profit by investing in Bitcoin. And yes, it must be on a long-term basis, only then can we expect good profits from Bitcoin.

The only risk management strategy needed while investing in Bitcoin is by  investing from your discretionary income, because in the worst possible scenario, your mental health will not be affected.
Aside that your duty is to just buy and hold, and  then put down measures that may aid your holding capacity, which is having an emergency and reserve funds in place, just in case of real life emergencies.

[Silikiem]

. Losing a little money will not cause much harm in our lives, only with risk management, the importance of time, and the right knowledge can we profit by investing in Bitcoin. And yes, it must be on a long-term basis, only then can we expect good profits from Bitcoin.

The only risk management strategy needed while investing in Bitcoin is by  investing from your discretionary income, because in the worst possible scenario, your mental health will not be affected.
Aside that your duty is to just buy and hold, and  then put down measures that may aid your holding capacity, which is having an emergency and reserve funds in place, just in case of real life emergencies.

Buying and investing with The dollar cost Averaging (DCA) method is swiftly designed to help in mitigation of risk associated with bitcoin volatility when investing in it, as you are buying and investing with a fixed amount over time either weekly or monthly basis to reduce the impact of market volatility. Being able to invest with a discretionary income especially after sorting out our basic financial needs or expenses will enable us not to sell our Bitcoin holdings too early just to sort out our basic needs since we’ve been able to take care of that prior to our buying and investing in bitcoin. So in all, there are three main strategies in bitcoin investment which are: DCA, lump sum, and buy the dip strategy, and the DCA is designed to reduce or mitigate the impact of market volatility. The risk management strategy here is the DCA method of buying bitcoin with our discretionary income.

[Btcdeybodi]

Michael Saylor keeps leading the way. This is a pace setting bitcoin investment. Michael Saylor just acquired 2486 Bitcoin while other investors are busy selling off their bitcoin out of panic. DCA approach is a very good approach and the rich investors really master the act of utilising every opportunity to buy aggressively. Bitcoin should be a buy buy process as long as you are still in active service or still have a sustainable source of income. When you understand the real future of bitcoin, you will not listen to any advice that may cause you to sell.

There is a thread dedicated for the purchases made by Michael Saylor and his company Strategy so next time it will be more better to post on that thread. However, the continues bitcoin purchases of Michael Saylor is really commendable and if am not mistaken, he is the one investor that has keep up with consistent buying of bitcoins since he started buying and hodling in 2020.

Here is the thread dedicated for information concerning Michael Saylor and Strategy: https://bitcointalk.org/index.php?topic=5268108.0

[JayJuanGee]

This is the problem people have. They will not not want to buy when the price is low but later want to buy when the price is high. The safest coin to buy right now is bitcoin. If you buy it, it is better not to be checking your wallet balance in dollars. Just leave the coin and be expecting bitcoin to get to $100000. Because the price is falling, some people will panic and sell just like what happened yesterday. Do not do that. Do not sell if you buy even now.

Yes brother you are right, but how do we know when the price of Bitcoin will decrease and when it will increase. In my opinion, the price of Bitcoin will increase day by day and so from now on we have to invest in Bitcoin through DCA. We hope that Bitcoin will reach $100000 one day. This is a long term investment where there is nothing to fear. We just have to have confidence and patience in ourselves then we will get success one day.

You are correct that a DCA strategy generally presumes that the price of the asset is going up.
However i would hardly consider you to be long term oriented if you are merely looking at the price to get to $100k. 

What are you going to do when the BTC price reaches $100k?  Sell?
I would consider a bitcoin investment to be 4-10 years or longer, and most instances it would be longer than 10 years, unless you have some age or health reason that would cause you to not be able to commit for 10 years or longer.

If you are price oriented or you have shorter timelines or maybe you are shooting for some consumption item or inferior investment, then then you are largely using bitcoin to trade.  I don't recommend trading bitcoin, even though there are quite a few people who still have been profitable from trading.

I think there’s an error in the number of zeros they intended to write cos you can’t write $100k price tag as target and still think it as a long term investment, $100k can be closed in a short time and we’ve seen it before so taking that as a mark is absolutely wrong. If you were to place a price target maybe $500k-1M can be considered.

There is no error.

Traders will trade very small margins with expectations that they will be able to get lucky in terms of either selling at or near the top (of some price wave) or at or near the bottom (of such price wave).  Such traders have little to no desire to establish any kind of a longer term bitcoin position.  They are so deluded to believe that 6-12 months is long term.  So yeah, I doubt that there is any mistake in leo96's numbers because he is thinking about bitcoin (and perhaps various other crypto) in the context of trading and trying to turn over dollar profits from his involvement in such assets.

The investment itself is flawed if it’s based on price tag, bitcoin is one of the best assets to invest in and see maximum returns but you have to be willing and disciplined to see your investments grow and last for a long term.

Even when some guys (even traders) might recognize and/or appreciate a likely long term way of approaching bitcoin, many of them have difficulties to control their own inclinations towards trying to capture "profits" out of tops and bottoms, and even if they might end up being "profitable" in dollar terms, there are not too many traders who are going to end up having better performance as compared with guys who ongoingly accumulated bitcoin through buying and holding only approaches... and I am not even saying that it is easy to stay focused on ongoing buying and holding.. since frequently during periods that BTC prices drop in large ways (such as our current drop of around 50%), many of us (including the investors) can second guess our having had bought bitcoin at much higher prices and even second guessing why we did not sell some so that we could have had bought back cheaper.. and surely those are not good ways of thinking about bitcoin or practicing bitcoin investing/accumulation... even though many of us can get lured into second-guessing ourselves and our earlier (buying of bitcoin and/or not selling) behaviors.

[Considering how volatile Bitcoin price can be it is important  to have  a basic knowledge on how to invest in Bitcoin.  One must be able to figure out whether they have money  they don't want to use for at least 4 years, money that when it is removed won't trigger any emotional response. And the second thing is to find which strategy best  fit their investment plan be it the DCA ( dollar cost averaging) or Lump Sum.  In the end building wealth with Bitcoin is not about perfect timing the market it is about discipline, patience,  risk management,  and long term thinking.

You said that an investor has to figure out whether they have money they don't intend to use for atleast 4 years to buy Bitcoin with before they start, that is a very long time for many investors except you are very rich. Except your income perhaps comes once in every 4 years you don't have to plan how much you can afford to loose for those years before buying, for most of us we get paid in weeks and months. The important thing is that when your income drops you should first remove expenses for your basic needs then fund your discretionary funds from where you can make provision for buying Bitcoin and your other wants.

About basic knowledge it's not necessary to know everything before you start, Idea of how to download a Bitcoin wallet and reliable sources to buy from is most essential, gradually you will be increasing your knowledge. DCA strategy is the best method to buy Bitcoin as someone that wants to use amount that they can afford to loose.

Of course guys are going to come to bitcoin with differing levels of knowledge, and even perhaps some misunderstandings in regards to what is bitcoin, so in that regard, it can frequently be difficult to figure out how much any particular newbies need to know before getting started buying bitcoin - so frequently we talk about their needs to figure out the extent to which they have discretionary funds so that they might know if they might be able to start out with buying $100 or $10 or some other amount of bitcoin - and so knowledge about their discretionary income is the most important thing. .and so if any person has common sense (which I am going to presume that an overwhelming majority of folks have common sense - perhaps 97.5% of the population - even though they might need to exercise some self-control in term of making sure that they are employing common sense), so the more that they feel comfortable with whatever they might know about bitcoin at the time that they start, then the more funds they would be comfortable in putting into it.. while they can also plan to continue to research into bitcoin..

Personally, I would not not consider knowledge about downloading a bitcoin wallet to be required prior to getting started, even though anyone who figures out the extent to which they have discretionary funds, may well have to figure out from where they might be sourcing their bitcoin, so for sure, there would be risks in regards to third parties (such as an exchange) holding large amounts of bitcoin, yet getting started does not require starting out with the purchase of large amounts bitcoin, which brings us back to common sense helping guys to figure out how much they want to start out with and which aspects of bitcoin they might prioritize learning about.  Let's say that a person hears about bitcoin, and he has a friend (or relative) that is also involved in bitcoin, and the friend/relative might be the source of his first bitcoin purchase, so then in that case it might be important to establish some kind of a private wallet to the extent to which many times it would not be a good practice to have our friends/relatives custodying our bitcoin during the time that we are figuring out private wallets and the ways that we might choose to hold our initial coins.

I completely get you on this. Waiting to learn more before investing will benefit you because you will get more skills.Bitcoin investment does not require extensive research; all you need is a basic understanding of how and where to buy and hold bitcoin. Once you've acquired this fundamental understanding, It is preferable to preserve reserved funds so that if a DIP occurs, people can utilize the reserved funds to acquire bitcoin at a low cost while leaving their initial accumulated quantity unchanged.

You don't need to wait to learn everything and/or learn more before start your investment, no. What you actually need to begin your investment is the knowledge and/or ability to figure out what your discretionary income is, and you can start your investment right away. While investigating, you can continue your learning process. Learning is a continuous process and doesn't stop in a day, so waiting to learn more before starting will delay your investment and will be keeping you away from investing. It's best to start immediately if you are able to discover your discretionary, and then you can learn more as you are already investing.

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

Holy shit sotelorene.  You are implying that there are things that guys need to know before getting started investing into bitcoin beyond discretionary income.. yet you are not really saying what those things are.

Why can't a newbie adjust their starting out size based on their employment of their common sense (presuming that they have common sense) rather than suggesting that there is some level of "knowledge" that they need prior to getting started?  Wouldn't a person with common sense be able to identify the extent to which he needs to know more before getting started, so in that sense, we should be able to emphasize the getting started, the having of common sense and discretionary funds as they starting point, and their common sense (presuming that they actually have such a thing) would help to guide them whether they start with $100 or $10 and/or any other preliminary steps that they might need to take within their getting started process?

In other words, it seems to me that the most important thing is the getting started part, as long as a person has discretionary funds, and we should  be able to presume them to have common sense, unless we are talking to someone who is raising red flags.. even in this forum, we should be able to presume that somewhere in the ballpark of 97.5% of the members have common sense, yet if they are immature (such as some teenager who has not grown up), then yeah, they better be careful with their own presumption that they have common sense and maturity. ... but I am not going to proclaim that anyone should not get started, and too bad if kids do not have adult figures in their lives to help them to make sure that they have developed enough common sense to be surfing on bitcoin threads on the internet...

If a forum member tells me that he is only 14 years old, then sure, I might try to be more careful with those members who I know are younger, and we know that sometimes younger members mature fast and some other members still have emotions like a kid even when they might be in their mid-20s or older, and there surely are some members who mentioned that they are still living with their parents and implying that they are not adults, yet there is ONLY so much that any of us can help to make sure that such younger (potentially immature) members are sufficiently protecting themselves when it comes to real world actions that they might choose to take based on things that they learn by reading bitcoin-related (and other kinds of content) threads on the internet.

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

I agree with you. We don't need to learn everything in bitcoin before we start a bitcoin investment rather what we need is a discretionary fund. A discretionary fund is only what we needed for a start and the basic knowledge to understand how to buy bitcoin. They may be rich folks who haven't started a bitcoin investment because they don't know how to figure out a discretionary income yet because they have no idea what's a discretionary income. I think if a good numbers of people knew what's discretionary income they might be able to invest in since what people need to invest in bitcoin is discretionary income

And regarding trust, as you said, I completely agree, and we even often discuss it here that it is indeed appropriate to invest with discretionary income. However, in addition to that, we must also have great confidence in Bitcoin. Although not much needs to be learned to start investing, if there is already strong confidence, then I think everything will go much better.

There is almost no fucking way that any guy is going to know enough about bitcoin from the start in order to have "trust" and "strong confidence."

Accordingly, should any newbie be able to adjust his position size in accordance with his level of confidence?  He can decide whether he is going to start with $100 (per week), or $10 (per week) or perhaps some other amount, such as $5k lump sum and then $100 per week thereafter based on his starting (or preliminary) knowledge, and then as his confidence might become greater (or maybe become worse?) then he can adjust his approach based on changes in his confidence after learning (and after having had already gotten started with perhaps? a relatively modest starting approach).

In other words, guys expect too much if they believe that they can be new to an asset (whether bitcoin or anything else) and have confidence, trust and/or knowledge, and even guys who have been in bitcoin for many years, they may wll be adjusting (or holding back) in regards to how much they are ready and willing to put into bitcoin because of their level of trust (or lack of trust) in regards to certain aspects of it.

Just think about guys who started investing in bitcoin 10 years ago, such as a guy with a $30k per year income ($2,500 per month) and with $1,500 or monthly expenses (therefore $1k per month of discretionary income), and maybe some similarly situated guys chose to invest $100 per week, and others chose to invest $10 per week and some other chose to not invest because they weren't comfortable... it likely would have had been better for an overwhelming majority of folks to have had taken a more modest position in bitcoin rather than either not investing or waiting until they were sufficiently trusting (and confident) in it. 

I am pretty sure that between about late 2014 and present, I have suggested to all kinds of folks (whether in real life and/or on the interwebs) to get the fuck started investing in bitcoin even if it is a small amount.  Between about late 2014 and 2020, I had been suggesting something like $10 per week as a starting point.  Since 2020, I have been suggesting $100 per week as a starting point, and surely guys have to figure out their own particulars in regards to how much and how to get started, including taking into account their individual particulars, yet it still seems better to get started and adjust size to a comfortable amount, rather than waiting until sufficient "comfort" and/or "trust" builds up.

[Umulala-alala]

I completely get you on this. Waiting to learn more before investing will benefit you because you will get more skills.Bitcoin investment does not require extensive research;

Your statement is confusing from the beginning you said waiting to learn more before investing will benefit you because you will get more skills, then are the end you said Bitcoin investment does not require extensive research, What skill are you even talking about? For your information Bitcoin investment does not require much skills or strategy or whatever you call it, as a beginner all you need is to figure out your discretionary income that's after you must have gotten the basic knowledge about Bitcoin investment, then the DCA strategy is there for you to start with instead of trying to figure out more skills or strategy before getting started

We don't need much skills or plenty of knowledge before we can get started buying BTC a basic knowledge and a discretionary income is just what that is needed to get started with your bitcoin investment and i think there is something too difficult to know before one can start buying bitcoin, we can learn or figure other things about bitcoin investment when you have already started buying BTC from there you can think of how to increase your cash flow so you can persistently and consistently by buying bitcoin from your discretionary income.

[JayJuanGee]

Yes, someone doesn't necessarily need to learn everything before they kick start their Bitcoin investment rather they need a basic knowledge and this basic knowledge encompasses of several things which is not only figuring or getting a discrestionary income alone but also how to use this discretionary income because many people knows how to get their discretionary income but don't really know the right application of it and those who doesn't know... Always has a challenge at the long run.

I agree with you. We don't need to learn everything in bitcoin before we start a bitcoin investment rather what we need is a discretionary fund. A discretionary fund is only what we needed for a start and the basic knowledge to understand how to buy bitcoin. They may be rich folks who haven't started a bitcoin investment because they don't know how to figure out a discretionary income yet because they have no idea what's a discretionary income. I think if a good numbers of people knew what's discretionary income they might be able to invest in since what people need to invest in bitcoin is discretionary income

yes we don't need to have accumulated a wealth of information about bitcoin investment before we can start accumulating bitcoin. At least a basic knowledge of what bitcoin is should be enough and also we can expand our knowledge of bitcoin as times goes buy. However the basic knowledge shouldn't just be limited to how to buy bitcoin. As side knowing how to buy bitcoin there are things that we need to know before starting like the risk involved and the volatile nature of bitcoin.

What is it that we need to know about risk and volatility? These are vague prerequisites that you are proclaiming that we need to know about.  How do we come to realize if we know enough about those topics in order to get started with our bitcoin investment?

[edited out]

surely it is good if folks have a solid source of income for bitcoin investment, but still not having it shouldnt be a barrier for not investing in bitcoin because all that is needed to start investing in  bitcoin is just a discretionary income, not necessarily the solid source of income youre talking about. folks or individuals can be able to start buying and investing in bitcoin the moment they are able to get a discretionary income, even if their income source is not solid, as far as from time to time they can be able to get a discretionary income to use for buying bitcoin and hold for long term investment practice. having a solid income is not a guarantee that you must be successful in bitcoin investment because there are folks out there with some solid source of income but they cannot be able to arrange a discretionary income at the end of the day to use and buy bitcoin, meanwhile there are many folks out there who doesnt have a solid income source but they are still able to get a discretionary income to use for their bitcoin investment. i think everything boils down to proper financial management skills of individuals, weather a solid income or not if you dont have good financial management skill then you will always find it difficult to get a discretionary income to invest and sustain your bitcoin investment.

With bitcoin investing, there is a difference between getting started and sustaining the investment over time.

Surely to get started all that is needed is discretionary funds.

Each time that a person decides to buy more bitcoin, he might merely need to assess that he has discretionary funds available, and if so then he can buy more bitcoin.

One of the issues, for any of us who are considering our bitcoin investment to be 4-10 years or longer is that we have ongoing expenses, so if we are going to keep our bitcoin investment and/or even keep building our bitcoin investment, then we have to continue to either have sufficient extra money (discretionary funds) to keep buying or we have to make sure that we have income coming in, so that we can make sure to cover all of our expenses, so that we do not end up depleting any funds that we do have and end up having to either stop buying bitcoin or worse yet to tap into our bitcoin investment at a time that is not of our own choosing.

So for example, maybe a guy comes to bitcoin, and he has enough savings to live for 6 months, yet he does not have a job, and so he figures that with the amount of savings that he has, he can live at his current standard of living and he can also buy $100 of bitcoin each week (that would be $2,600 for the whole 26 week period), yet perhaps, as he is ongoingly buying bitcoin, and 4 months down the road, he is running out of money and he ONLY has enough money to last for another 2 more months.  He might end up putting himself into a situation where he either has to stop buying bitcoin and/or he has to find an income source (such as a job) otherwise, he is going to run out of money, and he should not be buying bitcoin all the way until he runs out of money, since that would be irresponsible, even though surely each person is free to do whatever he likes, even dumb things.

. Losing a little money will not cause much harm in our lives, only with risk management, the importance of time, and the right knowledge can we profit by investing in Bitcoin. And yes, it must be on a long-term basis, only then can we expect good profits from Bitcoin.

The only risk management strategy needed while investing in Bitcoin is by  investing from your discretionary income, because in the worst possible scenario, your mental health will not be affected.
Aside that your duty is to just buy and hold, and  then put down measures that may aid your holding capacity, which is having an emergency and reserve funds in place, just in case of real life emergencies.

Buying and investing with The dollar cost Averaging (DCA) method is swiftly designed to help in mitigation of risk associated with bitcoin volatility when investing in it, as you are buying and investing with a fixed amount over time either weekly or monthly basis to reduce the impact of market volatility. Being able to invest with a discretionary income especially after sorting out our basic financial needs or expenses will enable us not to sell our Bitcoin holdings too early just to sort out our basic needs since we’ve been able to take care of that prior to our buying and investing in bitcoin. So in all, there are three main strategies in bitcoin investment which are: DCA, lump sum, and buy the dip strategy, and the DCA is designed to reduce or mitigate the impact of market volatility. The risk management strategy here is the DCA method of buying bitcoin with our discretionary income.

I would suggest that DCA allows us to mitigate market volatility based on our abilities to adjust the weekly (or whatever period?) investment amount based on our cashflow situation.  We mitigate because we make sure that we do not invest too much or too little, and we can also adjust how much back up funds that we are keeping on hand (which relates to how much DCA we might elect to put into bitcoin each week), and so with the passage of time and our ongoingly monitoring the regular amounts that we are putting into bitcoin, we can get a sense in regards to if we are sufficiently balancing both our finances and our psychology... and make adjustments if we get the sense that we are falling out of balance within the scope of our own ongoing assessment of our individual factors.