Buy Buy Buy or Sell Sell Sell?

[NewRevelation]

Why bringing “being aggressive” into the picture for someone that is just starting out..  that can easily send the wrong message.. it is better to just keep it simple and stick to a solid plan like DCA? It removes a lot of the guesswork and pressure..

Also, I do not think someone needs “enough” discretionary income before they start..  could as well discourage people. You can start with whatever little you have and build from there, that is kind of the whole point of DCA anyway..

Yea, I agree with everything you spoke of that being aggressive from the start can be really problematic for a beginner, even though he is doing it from his discretionary income, because since he is just starting his Bitcoin investment, he has not stack up a good emergency and reserve funds then, so he might equally struggle to put them in place if he is too aggressive from the start, and he might even commit some blunders by going beyond his discretionary income due to being aggressive too early, especially if he is not knowledgeable enough to know how to go about his bitcoin investment. So it's not a nice practice for a beginner that is just starting to be aggressive in his accumulation.

I also  don't think it's logical for new investors to be aggressive at first. There are many who take big risks without any plan, just out of greed, they invest a large amount and panic when the market falls and sell. However, those who want to invest aggressively personally can do it. I think we need time and preparation to be aggressive. In this case, we can start investing with small amounts gradually and along with regular investments, the amount can be increased as our experience and knowledge increase, but emergency funds should be ready. It can be beneficial for  investors if they make decisions in a controlled and planned manner.

Being aggressive as a new investor is relative. A struggling investor whose means of income is kind of low or just average should follow your advice. However, a new investor who have much to invest without his account screaming should go ahead to invest as much as he can. Let him go aggressively without looking back. Reason being that bitcoin is a sure investment strategy and it will surely yield increase. So while not enter the deep sea if you have the capacity than stay at the shore?
Being aggresively is purely relative.

There is every possiblity of making profits from all your investments, but note that there is NO guarantee at all. Bitcoin price movement cannot be tracked nor accurately predicted. It might fall, and keep falling, you never can tell. It might suddenly rise again, and on it goes. So you can't really be sure what's next. That's why we say that the aspect of the gains, we can't really be sure when it will happen.

So its best we invest with caution, only from your discretionary income, building up emergency funds and other back up funds which will guide your investment through. Of course, if it's for a newbie investor, he can decide to start his investment with little DCa buys even though he has enough discretionary, just so to get understand about the market and sure build tolerance, some level of understanding, and then most importantly, trust and confidence on the process. And then gradually, he can decide his investment amount.

[JayJuanGee]

If an investor have been consistently investing into bitcoin with discretionary income from his current salary and he has a salary increase from a particular month, the increment amount can add to his discretionary income since he takes care of his expenses already with the old salary and still has discretionary income to invest, same with a bonus at work, he can choose to use part of them to increase his buy amounts since both categories can be described as increased periodic income, which can result in increased discretionary income and can be used to invest. This is if all things remain equal and the investor doesn't go ahead to increase his lifestyle due to presence of more income and manually inflates his expenses to match with his new income.

In reality it is not impossible for any individual to emulate the actions of such an investor. However were that investor to suddenly face the same income or financial constraints experienced by the average person they would likely find themselves unable to invest as freely as before indeed they would be in the exact same predicament as someone with severely limited income. Consequently it is not that people lack the desire to invest in Bitcoin rather they often possess discretionary income that is already fully allocated to covering daily consumption needs.

You seem to not know what is discretionary income, cyberninja2.  Discretionary income is money that is left after basic expenses have been accounted for.  If guys have other expenses that are disallowing them to invest because they have various want, then those might be discretionary expenses that could be cut or deferred.

In any event, it is good to distinguish between needs and wants when figuring out what money is available for investing, and surely if guys do not have discretionary funds, they should not be investing at all, and even if they have discretionary funds, if they don't want to use it for investing or they want to have "fun with their extra money," then they may well have to figure out the extent to which they might need to reign in some of their discretionary consumption in order to give a higher priority to bitcoin investing.

At the same time, no one can tell anyone else about how much priority they should give to bitcoin investing, and even guys with similar levels of discretionary funds may well differ in their chosen level of aggressiveness (or contrarily whimpiness) when it come to the level of their bitcoin investing, if any.

This is a crucial point that individuals must carefully consider if one's income is insufficient to cover both essential expenses and investments
 

You seem to be referring to a case in which the guy does not have discretionary income, which means that he cannot invest in bitcoin, since if he bought bitcoin with money that he needs for expenses, then he would be gambling rather than investing (since you are saying he needs the money and he does not have any extra money outside of what he needs to cover his basic expenses).

There could be some case in which guy are considering some of their expenses as needs rather than wants.. and so sometimes they can cut some of their expenses by figuring out some of their expenses that could be eliminated, reduced or deferred.

I believe it is prudent to temporarily defer the desire to invest in Bitcoin. This suggestion is not intended as a prohibition but rather as a matter of common sense aimed at preventing the individual from facing significant financial difficulties. Thus while the fundamental approach to investing may be the same for everyone—from the average person to the major investor—the sole distinguishing factor lies quite naturally in the magnitude of the income and financial resources at their disposal.

You are correct that if guy have short term decreases in their income and/or increases in their expenses, then they might discontinue or reduce their investment into bitcoin to the extent that they do not have extra funds set aside and/or available to cover such circumstances.  There may be judgement call in term of how severe a guy's shortfalls in cash might be and/or how long he might expect such shortfalls in cash to last.

For sure in these various bitcoin-related threads, several of us try to suggest ways that guys strengthen their cashflow situations while they are also building their bitcoin investment, so perhaps the longer a guy is in bitcoin, then the more likely that he should be able to figure out ways that he can ongoingly invest in bitcoin  - and surely there are guys who have situations that happen to them that are somewhat beyond their expectations, which sometimes deter them from being able to achieve the goals that they would likes, so they should be attempting to  set goals  and  practices that are realistically within their own financial and/or psychological circumstances... and even you, cyberninja2, you have been registered here for more than 10 years, so surely you have gotten some systems in place and have been able to accumulate some bitcoin in the past 10-ish years...

[Ashawowo(OS)]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

You're starting out on a very wrong foot Mene_rence, targeting to buy when it is low and sell high is not a good practice for a investor, it's a trader's activity and it is even worse when you're starting out your investment journey on such a retarded mindset of trading instead of that of building out a substantial portfolio for yourself through consistent buys and a long-term holding plan.

If you continue trading rather than investing, you would likely end up with very fewer coins on the long-run, or even none since you would likely be selling them off whenever the prices go high. if we go down the memory lane, you'll see that those who recorded more success in their bitcoin investments are the long-term holders and not traders

An investor who just got into bitcoin and has discretionary income available should be more focused in accumulating a descent stash of bitcoin for himself through consistent buying with DCA over a cycle or more to have a good stash to themselves, you need to focus on your consistent buys and building of backup funds alongside it and forget about taking short-term profits or selling as an investor still in his accumulation phase at least until you've reached over accumulation stage with respect to your accumulation target, only then can you comfortably take some little profits but not to the extent of going below your accumulation target.

[Bigjoe33]

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

This is a wrong investment mentality and can be misleading for newbie investor who would rather think/believe this is the right way to go. But this is simply or purely trading mindset and not investing, and should be changed if you want to get the best out of your investment.

Investors should come into Bitcoin investment with the idea of long term buy and hold mentality. Leveraging on the features of tye DCA strategy, where you can buy with little amounts as long as you have your discretionary income available. So its best to keep on buying consistently, even in down time and up trend movement, and the idea is that, since we believe that Bitcoin will appreciate anytime at his own will and timing, then, if we HODL the ones we have been consistently buying, then we must have made much more coins than we can imagine, and then, we stand a chance of making better gains in the future. Thus, buying and HODLing(investment), beats buying in low price and selling in high price(Trading)

[Barikui1]

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Buying and selling for profit is not what real Bitcoin investor do, that's the trait of a trader, which wouldn't change much of your financial situation, so I urge you to learn how to invest properly by buying and accumulating consistently for like 10 years or more through the dca accumulating strategy, that way you can be able to accumulate huge stash of Bitcoin that can change your financial history forever when Bitcoin has risen to a million dollars or more, so buying and selling as you have it at the back of your mind is actually the wrong way to go about you Bitcoin investment, because that action of yours is more of trading than investment.

Finally, how many trades do you know that was able to build a generational wealth trading the market?
Don't you know that it's only 1% of traders that makes money consistently in the market?
That is enough to tell you that trading is not as easy as you think, and the reward attach to it is nothing compared to a bitcoin investor that succeeded in accumulating a huge stash of it and hold for a period of 10years or more.

[Nheer]

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

You're starting out on a very wrong foot Mene_rence, targeting to buy when it is low and sell high is not a good practice for a investor, it's a trader's activity and it is even worse when you're starting out your investment journey on such a retarded mindset of trading instead of that of building out a substantial portfolio for yourself through consistent buys and a long-term holding plan.

If you continue trading rather than investing, you would likely end up with very fewer coins on the long-run, or even none since you would likely be selling them off whenever the prices go high. if we go down the memory lane, you'll see that those who recorded more success in their bitcoin investments are the long-term holders and not traders

An investor who just got into bitcoin and has discretionary income available should be more focused in accumulating a descent stash of bitcoin for himself through consistent buying with DCA over a cycle or more to have a good stash to themselves, you need to focus on your consistent buys and building of backup funds alongside it and forget about taking short-term profits or selling as an investor still in his accumulation phase at least until you've reached over accumulation stage with respect to your accumulation target, only then can you comfortably take some little profits but not to the extent of going below your accumulation target.

That's about right, a traders mindset will take you no where. The market is always fluctuating so profit is not a guarantee. The real benefit is in the future so the focus should just be on building your portfolio while maintaining utmost discipline and consistency with your accumulation process.

Most of these people with a trading mindset don't know that the more Bitcoin you acquire the more benefits you're likely to get if things go well in the long run so why trade your future with short time profits that are not worth it.
I think talking about taking profits here can mislead people even though it's when the accumulation target is reached. It might make people especially beginners want to get comfortable with taking profits after a few years.

[ASloveapg]

I personally think that your discretionary income should be increase with your salary. Set a budget for increasing Bitcoin accumulation and then assess the need to increase your household expenses. It is certainly logical to look for additional income because it will be difficult to achieve financial security by relying on one income.

You're making sense and it's a good idea to try and increase how much we put into the investment when you have a rise in salary but it's good to make sure your expenses are taken care of by prioritizing your needs over wants so you can have enough discretionary income to invest and increase your Bitcoin accumulation but in the case where your expenses still manage to take much despite the increase in salary as a result of inflation and didn't give room to increase your discretionary income then your priority should be catering for your expenses until you are able to get another source of income to increase your discretionary income and build an emergency fund. The idea is to make sure your expenses are taken care of so you don't have to depend on your investment when a little need arise.

I agree with you on this. My own principle has always been to invest what you can loose. It's kind of not wise to put in all your life savings and sometimes not see the profit you so desire. Some invest and wants the profit immediately.
Bitcoin is a long time investment and it shouldn't be done when your immediate needs has not be cover. Yea, needs and expenses are insatiable but make sure your basic needs are taken care of first before investing.

We must have a clear understanding of the risks, we are not guaranteed to win anything, and that is why we should not invest the necessary amount of money. People expect quick success, and this is why they start making harmful decisions, because due to their expectations they become confident and take unrealistic risks, which ultimately result in losses. They should understand that investing in assets like Bitcoin without a long-term perspective often leads to disappointment, because its price fluctuations are very volatile in the short term, so make realistic decisions, do not invest in a way that can create problems.

[ZeroVinsonN]

Why bringing “being aggressive” into the picture for someone that is just starting out..  that can easily send the wrong message.. it is better to just keep it simple and stick to a solid plan like DCA? It removes a lot of the guesswork and pressure..

Also, I do not think someone needs “enough” discretionary income before they start..  could as well discourage people. You can start with whatever little you have and build from there, that is kind of the whole point of DCA anyway..

Yea, I agree with everything you spoke of that being aggressive from the start can be really problematic for a beginner, even though he is doing it from his discretionary income, because since he is just starting his Bitcoin investment, he has not stack up a good emergency and reserve funds then, so he might equally struggle to put them in place if he is too aggressive from the start, and he might even commit some blunders by going beyond his discretionary income due to being aggressive too early, especially if he is not knowledgeable enough to know how to go about his bitcoin investment. So it's not a nice practice for a beginner that is just starting to be aggressive in his accumulation.

I also  don't think it's logical for new investors to be aggressive at first. There are many who take big risks without any plan, just out of greed, they invest a large amount and panic when the market falls and sell. However, those who want to invest aggressively personally can do it. I think we need time and preparation to be aggressive. In this case, we can start investing with small amounts gradually and along with regular investments, the amount can be increased as our experience and knowledge increase, but emergency funds should be ready. It can be beneficial for  investors if they make decisions in a controlled and planned manner.

Being aggressive as a new investor is relative. A struggling investor whose means of income is kind of low or just average should follow your advice. However, a new investor who have much to invest without his account screaming should go ahead to invest as much as he can. Let him go aggressively without looking back. Reason being that bitcoin is a sure investment strategy and it will surely yield increase. So while not enter the deep sea if you have the capacity than stay at the shore?
Being aggresively is purely relative.

It will surely yield increase? I like that you are this confident but please bring confident doesn't mean you are right, I'm not going to try and stop you from doing whatever you think is right for you, after all it may be working for you, I don't know, but trying to get other newbies in on it is wrong especially since bitcoin isn't 100% guaranteed to yield increase as you claim it to be, it's not completely out of the picture for bitcoin to not experience any price increase ever again so even though we are all hoping that it keeps increasing we shouldn't blur the line between our personal fantasy and reality, we can't control bitcoin and the price can swing either way.
For a newbie I don't agree that buying aggressively is a good strategy, when you are busy pouring all or almost all of your discretionary income into investing in bitcoin where then does your backup funds come from, they are obviously not going to magically fall from the sky, if you are yet to understand how to move your finances around (what to spend on and how much to spend on it) then you are probably not ready to invest in bitcoin.

[alankasman]

We must have a clear understanding of the risks, we are not guaranteed to win anything, and that is why we should not invest the necessary amount of money. People expect quick success, and this is why they start making harmful decisions, because due to their expectations they become confident and take unrealistic risks, which ultimately result in losses. They should understand that investing in assets like Bitcoin without a long-term perspective often leads to disappointment, because its price fluctuations are very volatile in the short term, so make realistic decisions, do not invest in a way that can create problems.

It all depends on each individual if they dare to do something like that and they have ensured that when things don't match their expectations they must accept the risks rationally without blaming anyone.

Understanding more deeply about Bitcoin investment is better because in this forum we only use a 100% perspective value meaning that 100% is divided into two parts and the first part is 99% luck and the second is 1% of our abilities regardless of the possible risks that we will receive so in my opinion it is better to take a relaxed and consistent walk every time you want to do either a small amount or a possibly very impressive amount in investing because if there is a mistake it will certainly be more difficult to grow back like the beginning that was done by someone.

[Kelward]

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Buying and selling for profit is not what real Bitcoin investor do, that's the trait of a trader, which wouldn't change much of your financial situation, so I urge you to learn how to invest properly by buying and accumulating consistently for like 10 years or more through the dca accumulating strategy, that way you can be able to accumulate huge stash of Bitcoin that can change your financial history forever when Bitcoin has risen to a million dollars or more, so buying and selling as you have it at the back of your mind is actually the wrong way to go about you Bitcoin investment, because that action of yours is more of trading than investment.

A lot of newbies in Bitcoin investment don't actually know the difference between investment and trading, they think that if you buy Bitcoin you should wait for an uptrend then sell for profit then wait for another dip to enter the market again. They should know that the method is trading, if they want to be investors they should have long term plans of continuous accumulation and the best strategy is DCA method of accumulation. The longer you hold your Bitcoin for many years after circles upon circles the better because as it's demand continues to far exceed it's supply in the future the value will continue to increase.

Finally, how many trades do you know that was able to build a generational wealth trading the market?
Don't you know that it's only 1% of traders that makes money consistently in the market?
That is enough to tell you that trading is not as easy as you think, and the reward attach to it is nothing compared to a bitcoin investor that succeeded in accumulating a huge stash of it and hold for a period of 10years or more.

This is a very important lesson for newbies to note because trading is hard and very risky you can lose all your funds within a shortest period of time, almost all the traders are losing because of greed and lack of trading experience. But Bitcoin investment is for everybody, if you can buy and hold for up to 10 years and more there is likelihood that you will make a lot of profit because Bitcoin is a store of value.

[The Founding Titan]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Your principle is that of a trader and not that of an investor, only traders look to buy when the price is low and sell once it goes up, no true investor will ever buy and sell like that, an investor will always be looking to hold for long term with the bare minimum being 1 cycle, and even then you will hardly see investors selling after accumulating and HODLing for 1 cycle since some of the holding at that point will not even have been held for a cycle yet, that's why you will usually see talks about investing running into over 10 years of accumulating and holding bitcoin.

[Futurexxx]

Finally, how many trades do you know that was able to build a generational wealth trading the market?
Don't you know that it's only 1% of traders that makes money consistently in the market?
That is enough to tell you that trading is not as easy as you think, and the reward attach to it is nothing compared to a bitcoin investor that succeeded in accumulating a huge stash of it and hold for a period of 10years or more.

This is a very important lesson for newbies to note because trading is hard and very risky you can lose all your funds within a shortest period of time, almost all the traders are losing because of greed and lack of trading experience. But Bitcoin investment is for everybody, if you can buy and hold for up to 10 years and more there is likelihood that you will make a lot of profit because Bitcoin is a store of value.

Trading is too hard, but only few of this newbies can see it, and they are blind folded by their quest to make quick profit, which in the end, they still lose money or they are not profitable. Because in trading, you can use a month to make $5k and use a single day to lose everything, so what's the essence of going into something like that when Bitcoin investment is a lot easier and more rewarding?

I just hope that their quest for quick profit don't spur them into alt and shit coin because by engaging in such, it will only be a matter of time before they got burnt because greed and the urge to make quick money is never a good thing.

[Zackz5000]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Trying to accumulate Bitcoin when the price goes low with the intention of selling when the price increase is a trading practice and as long new investor this will delay your Bitcoin accumulation journey because you will definitely not accumulate enough Bitcoin because the dip doesn't occur all the time, also sometimes in the process of waiting for the dip the price may continue to increase, the best way to be accumulating regularly using the DCA strategy with this strategy you will be accumulating Bitcoin regardless of the price when the dip happened you can still accumulate more it's far better than waiting for the dip before accumulating Bitcoin.

[Bd officer]

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Actually I don't like your plan, your strategy is wrong, you might be trading. If you want to invest in Bitcoin, your plan should be long-term, and whatever the price, you should only focus on accumulating. If you plan to buy low and sell high, can you be called an investor? Of course not, your mentality is like a trader. Now there is no specific time to buy or sell Bitcoin, but currently the price of Bitcoin has come down a lot from the ATH price, so we can say that the price of Bitcoin is relatively cheap, so at this time you should focus on accumulating Bitcoin. But remember that it is always better to invest in DCA strategy, because in this you can buy the average price. So you change this kind of mentality and buy Bitcoin and hodl for the long term.

[Rockson1]

There is every possiblity of making profits from all your investments, but note that there is NO guarantee at all. Bitcoin price movement cannot be tracked nor accurately predicted. It might fall, and keep falling, you never can tell. It might suddenly rise again, and on it goes. So you can't really be sure what's next. That's why we say that the aspect of the gains, we can't really be sure when it will happen..

Your point about profit not being assured in Bitcoin investment is right, I guess you have heard about Bitcoin investment being for a long-term, there was a time Bitcoin price was as low as $1k even lower than that price, some investors get in, they invested, some had their conviction and was never bothered to keep investing, they saw it as opportunity to invest in digital asset and was doing it and keep hoping for the best, some withdraw at some point because they were confused and maybe they do not know what they wanted, where are we today, those that had patience and persevered have really seen it big, when Bitcoin hit $100k+ I'm sure those that waited never regretted their action, profit in Bitcoin is not something that occur immediately, though nothing is guaranteed but history has it that long-term Bitcoin investors are positioned to get their reward in the nearest future but it comes with a price to pay which is Patience.

[Hardyrobust]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Trying to accumulate Bitcoin when the price goes low with the intention of selling when the price increase is a trading practice and as long new investor this will delay your Bitcoin accumulation journey because you will definitely not accumulate enough Bitcoin because the dip doesn't occur all the time, also sometimes in the process of waiting for the dip the price may continue to increase, the best way to be accumulating regularly using the DCA strategy with this strategy you will be accumulating Bitcoin regardless of the price when the dip happened you can still accumulate more it's far better than waiting for the dip before accumulating Bitcoin.

It is traders that do prefer to wait for low entry point with the intention of selling back when the price goes up. Newbies that is trading in this part will definitely have a rough landing. The mindset of making quick profit is what motivate people to time the market to buy low and sell high, this is very risky and should be avoided because the possibilities of losing all ones income is high.

[The Founding Titan]

Ive been hearing about situations where someone buys a coin for a certain rate and not quite long after,  the said coin drops in value, or  someone sells his coin for a certain rate and then it appreciates just after.
What's your take on this? Given the period we're in is it buy time or sell time?

My own principle is to buy when the price is down and sell when it's high. In this period, bitcoin has been unstable recently and it's down in rate. so I'll advice that if you want to invest, this is the best time because definitely, bitcoin is going to rise in value very soon.

Trying to accumulate Bitcoin when the price goes low with the intention of selling when the price increase is a trading practice and as long new investor this will delay your Bitcoin accumulation journey because you will definitely not accumulate enough Bitcoin because the dip doesn't occur all the time, also sometimes in the process of waiting for the dip the price may continue to increase, the best way to be accumulating regularly using the DCA strategy with this strategy you will be accumulating Bitcoin regardless of the price when the dip happened you can still accumulate more it's far better than waiting for the dip before accumulating Bitcoin.

It is traders that do prefer to wait for low entry point with the intention of selling back when the price goes up. Newbies that is trading in this part will definitely have a rough landing. The mindset of making quick profit is what motivate people to time the market to buy low and sell high, this is very risky and should be avoided because the possibilities of losing all ones income is high.

Quick profit doesn't work with bitcoin, if you are interested in bitcoin then you interest should never be quick profit you might end up losing all your money if you do that, instead look for long term gain and with bitcoin this is only possible by investing in it, continuous accumulation and holding is the ideal way to invest in bitcoin, while it is true that success isn't guaranteed with bitcoin investment, the moment you bring a traders mentality then you have already close to zeroed your chances of ever getting anything tangible from bitcoin.

[Gallar]

I also  don't think it's logical for new investors to be aggressive at first. There are many who take big risks without any plan, just out of greed, they invest a large amount and panic when the market falls and sell. However, those who want to invest aggressively personally can do it. I think we need time and preparation to be aggressive. In this case, we can start investing with small amounts gradually and along with regular investments, the amount can be increased as our experience and knowledge increase, but emergency funds should be ready. It can be beneficial for  investors if they make decisions in a controlled and planned manner.

The point is, when we invest in Bitcoin, we must go through each stage patiently and calmly. So, don't jump too far, because if we jump too far and skip the steps that should be felt, I think the potential for loss will certainly increase. Because just think about it, if we jump five or six steps at once, the potential for falling is certainly very high. So, it's better to enjoy the process patiently and calmly. Because why rush? Because investing in Bitcoin is certainly around 10 years or more, so why rush, because we are clearly not traders in Bitcoin.

So, the point is, don't fantasize too much, in my opinion, because that will make our minds move and take steps too hastily just because our fantasies are too high. So, the point is,, dreaming of getting rich is indeed necessary, because it will be a very powerful motivation. But don't forget, WE MUST ENJOY THE ENTIRE PROCESS WITH PATIENCE. Only then, I am confident that Bitcoin investment will produce good results.

[sotelorene]

I personally think that your discretionary income should be increase with your salary. Set a budget for increasing Bitcoin accumulation and then assess the need to increase your household expenses. It is certainly logical to look for additional income because it will be difficult to achieve financial security by relying on one income.

You're making sense and it's a good idea to try and increase how much we put into the investment when you have a rise in salary but it's good to make sure your expenses are taken care of by prioritizing your needs over wants so you can have enough discretionary income to invest and increase your Bitcoin accumulation but in the case where your expenses still manage to take much despite the increase in salary as a result of inflation and didn't give room to increase your discretionary income then your priority should be catering for your expenses until you are able to get another source of income to increase your discretionary income and build an emergency fund. The idea is to make sure your expenses are taken care of so you don't have to depend on your investment when a little need arise.

I agree with you on this. My own principle has always been to invest what you can loose. It's kind of not wise to put in all your life savings and sometimes not see the profit you so desire. Some invest and wants the profit immediately.
Bitcoin is a long time investment and it shouldn't be done when your immediate needs has not be cover. Yea, needs and expenses are insatiable but make sure your basic needs are taken care of first before investing.

We must have a clear understanding of the risks, we are not guaranteed to win anything, and that is why we should not invest the necessary amount of money. People expect quick success, and this is why they start making harmful decisions, because due to their expectations they become confident and take unrealistic risks, which ultimately result in losses. They should understand that investing in assets like Bitcoin without a long-term perspective often leads to disappointment, because its price fluctuations are very volatile in the short term, so make realistic decisions, do not invest in a way that can create problems.

Sometimes you folks use terminology that can mislead or confuse someone what is " necessary amount of money"?  People have been advised to only use their discretionary income while carrying out their Bitcoin investment which is accumulation of Bitcoin so why using this term that is so unfamiliar and not related to what we are discussing here and if I may ask you, is our discretionary income not a necessary funds or money? The fact that it is called leftover doesn't make it unnecessary because reserve and emergency funds are gotten from it.

[Cyber_warrior]

We must have a clear understanding of the risks, we are not guaranteed to win anything, and that is why we should not invest the necessary amount of money. People expect quick success, and this is why they start making harmful decisions, because due to their expectations they become confident and take unrealistic risks, which ultimately result in losses. They should understand that investing in assets like Bitcoin without a long-term perspective often leads to disappointment, because its price fluctuations are very volatile in the short term, so make realistic decisions, do not invest in a way that can create problems.

Sometimes you folks use terminology that can mislead or confuse someone what is " necessary amount of money"?  People have been advised to only use their discretionary income while carrying out their Bitcoin investment which is accumulation of Bitcoin so why using this term that is so unfamiliar and not related to what we are discussing here and if I may ask you, is our discretionary income not a necessary funds or money? The fact that it is called leftover doesn't make it unnecessary because reserve and emergency funds are gotten from it.

The term he used does not fit in the conversation properly but when you think of it you will understand what he is trying to say and I don't think it's wrong actually. Necessary in that context should mean money that is needed for essential things so not invest the necessary amount of money should mean you shouldn't invest with money that's necessary like money that is needed for essential expenses.

I wouldn't say your left over money is necessary because it's money left after all necessary expenses are taken care of. Not necessary doesn't mean it has no purpose. It can still be spent on non essential things but instead of using it carelessly investing it helps you avoid unnecessary spending and build something for the future.