Buy Buy Buy or Sell Sell Sell?

[Jostern]

The only way an investor can keep his hands off his investment is, if he has something else to fall back on without disturbing his assets, that is the major reason it is advisable to be financially stable before engaging in investment else the person will not grow not even a bit because as he will be tempted to go back to his investment, no human can advance financial with this act, but with something else to hold on with them the long term investment becomes the best option and the investor grows financially, so having other means of income is best as it sustains and help with solving other personal issues involving money.

Look buddy, even though there’s a bit of truth to what you said here ,I still believe you’re wrong for saying that financial stability is the prerequisite to invest in bitcoin when In fact all that really matters is having discretionary income and knowing how to use it properly in your investment.and not to forget discipline because you mentioned in your above write-up that the only way an investor can keep his hand off his investment is by having another source of income to fall back on. Well I’m here to tell you that the only way a person can can hands off their investment is by having Psychological discipline because it is what will keep a person from dipping into their investments prematurely.

Financial stability is good, but it is not the compulsory or basics for starting up your investment or guarantees been able to HODL your assets for long. Even some folks who are financially stable may still tap from there investment or sell unplanned if they fail to build up back up funds from there discretionary which can help to sustain there investment in the days of lack and want.

Building an emergency funds and other back up funds are very necessary to help an investor HODL his assets longer. Another problem some investors have that tends to prevent them from holding there assets is there inability to ensure a proper income management and allocation. Some use there money carelessly, and this affects there ability to do a proper allocation, thus wasting there money on irrelevant things. However, while you are ensuring to build your emergency funds and other back up funds alongside your investment, also ensure to allocate and manage your resources properly

This is something a lot of individuals over look everybod talks about investing and holding but not enough people that talk about having a solid back up plan if your day to day finances are not in order it's easy to panic and sell when things get rough building emergency funds and managing income properly really makes all the difference at the end what's matters is discipline just as much as the investment.

The reason people talk about investing and holding for long term is because it has been observed that, it is the best way to go about Bitcoin because the short term won't give success due to the volatile nature of Bitcoin. While people are advised and recommend to invest for long term they also need to learn to figure out their discretionary income so they won't panic or sell because the reason some people Panic or sell most times is because they lack the knowledge of using discretionary income to accumulate.

Someone who have a good understanding about Bitcoin, wouldn’t have to panic and sell their bitcoin immediately as soon as they find a situation with a dip in the price of bitcoin, instead that creates an opportunity and an avenue for them to keep buying bitcoin more consistently on a regular basis.

However mostly people who haven’t been buying bitcoin for quite a long time might panic when they have a situation that requires them to come situation of bear season, sometimes the bull market presents with and opportunity to buy bitcoin more cheaper and more affordable which might still not last for a very longest time and we might not learn everything about the situation before we can start investing.

[Btcdeybodi]

The only way an investor can keep his hands off his investment is, if he has something else to fall back on without disturbing his assets, that is the major reason it is advisable to be financially stable before engaging in investment else the person will not grow not even a bit because as he will be tempted to go back to his investment, no human can advance financial with this act, but with something else to hold on with them the long term investment becomes the best option and the investor grows financially, so having other means of income is best as it sustains and help with solving other personal issues involving money.

I think that you are wrong with your sentiment here, you don't need to be stable financially before you can easily invest in Bitcoin and be successful, all you just need is a discretionary income to invest with, and it's through that discretionary income you put down measures like emergency and reserve funds in place, so that you can be able to hold strong during times of financial challenges.
So if you think that you must be stable financially before you can invest and be successful, you are wrong, because in most cases, we have seen those with stable income struggle or are unable to figure out their discretionary income, so what am trying to say is that discretionary income is what is needed to invest in Bitcoin and be successful, not by having a stable income as you are proclaiming.

Having a stable income may not matter when you want to start investing in bitcoin but you need a stable income to keep your investment running especially if you are using the DCA strategy. If income doesn't come regularly how will you be able to have a discretionary income? Even if an investor can just start with any amount available but he still needs to either have a stable income or different streams of income so that the discretionary income can always be guaranteed each time he needs to DCA.

[Rgram]

Having a stable income may not matter when you want to start investing in bitcoin but you need a stable income to keep your investment running especially if you are using the DCA strategy.

I’ve always thought about this differently and might be more agreeable with your first statement that, doesn’t rely on stable income for Bitcoin investment.

Bitcoin investment focuses on your ability to invest in Bitcoin, it doesn’t give any preference to how the money comes but, you being able to take from it and invest in Bitcoin is all that matters.
With DCA being an investment strategy, it also doesn’t give much concern to regular income source but, your ability to invest each time you get some income. The income doesn’t need to be regular but, the regularity in investment has to do with, which ever time the income does come in.

[alankasman]

I’ve always thought about this differently and might be more agreeable with your first statement that, doesn’t rely on stable income for Bitcoin investment.
Bitcoin investment focuses on your ability to invest in Bitcoin, it doesn’t give any preference to how the money comes but, you being able to take from it and invest in Bitcoin is all that matters.
With DCA being an investment strategy, it also doesn’t give much concern to regular income source but, your ability to invest each time you get some income. The income doesn’t need to be regular but, the regularity in investment has to do with, which ever time the income does come in.

However what generally happens is different from what you said. Currently some people invest depending on a stable income. If they don't rely on a stable income I think it's difficult to invest in Bitcoin unless they have another job as an alternative. Perhaps the main income will be used for investments while the alternative income is used for daily needs. I think these two things are quite easy for Bitcoin investment. However if you only rely on one income without any income from an alternative job I'm the first to say it's difficult for someone to invest in Bitcoin especially investing without an emergency fund. That's absolutely not possible for everyone.

It's true that Bitcoin investment depends on a person's abilities. However some abilities can be achieved through a single fixed activity without the support of anything that can help them when they aren't achieving sufficient results in Bitcoin investment. For example if their finances are very limited especially if they are required by those responsible because basic needs are far more important than investment. Unless they have funds set aside for emergencies having a reserve fund is a lifeline in the event of such an emergency. It also doesn't interfere with their long-term Bitcoin investment.

[laspol65]

Having a stable income may not matter when you want to start investing in bitcoin but you need a stable income to keep your investment running especially if you are using the DCA strategy.

I’ve always thought about this differently and might be more agreeable with your first statement that, doesn’t rely on stable income for Bitcoin investment.

Bitcoin investment focuses on your ability to invest in Bitcoin, it doesn’t give any preference to how the money comes but, you being able to take from it and invest in Bitcoin is all that matters.
With DCA being an investment strategy, it also doesn’t give much concern to regular income source but, your ability to invest each time you get some income. The income doesn’t need to be regular but, the regularity in investment has to do with, which ever time the income does come in.

I could not agree with you, because a person who has a good source of income can certainly play a greater role in purchasing Bitcoin in following the Bitcoin DCA method. Therefore, a Bitcoin investor must have a prudent income, because if the source of income is good, he can maintain Bitcoin continuity according to the DCA method for investing in Bitcoin.
An income-seeking person can never participate in Bitcoin investment, so naturally, if he needs income, he can invest in Bitcoin properly and wait for a long time with holding.

[JayJuanGee]

[edited out]

According to @JayJuanGee sir if we follow the path of thought or his shown path then we do not need stable income to invest or we do not need additional source of income rather we need discretionary income to invest.

Don't get me wrong @Tongley.  To get started investing in bitcoin, all we need are discretionary funds, and if we are going to invest into bitcoin every week, then we need to continue to have discretionary funds, which is money left over after our expenses.

We are likely going to need more money coming in to keep our bitcoin investment going, yet we can get started investing in bitcoin with merely discretionary funds.

For example, there could be some guys who work infrequently, but perhaps earn good money when they are working... and there can be guys who are transitioning between jobs, and each of these kinds of guys have discretionary funds to get started investing in bitcoin.

One reason that I have been frequently pushing back on guys who emphasize stable income and proclaiming that guys have to be quite organized before the start investing into bitcoin is because they tend to be putting too many requirements on the getting started part of investing into bitcoin, and getting started investing into bitcoin is important, yet at the same time, guys may well be in differing situations regarding how many discretionary funds that they have, especially if they might otherwise have an unstable income and/or unstable expenses situation.

[edited out]

It is not right to think that stable income is basically not needed, or that somehow income stability is less important. And with proper management, discretionary income can be generated from unstable income. Yes, it can be in many cases. But not in all cases. Some people's income is so low or so irregular that no matter how disciplined it becomes practically difficult to generate anything extra amount.

You mentioned @JayJuanGee sir. He has discussed this fund management in many details and in various ways. First of all, according to JJG sir, stable income is not absolutely mandatory for investing. He clearly said that DCA can be done even when discretionary funds are available. Income does not have to be perfectly stable or regular. Along with this, he also says that discretionary income means what is left after deducting basic expenses, and that discretionary income also has multiple uses. For example, there can be investment, save back up, and various other types of expenses. That means he is not saying that just by seeing discretionary income, you have to spend it to buy all the bitcoins. Rather, he repeatedly shows that even within discretionary money there are choices, and those choices depend on your own comfort, goals, and circumstances.

Your summary is largely correct @ruykeri.  Once we figure out our discretionary funds, whether that is weekly, monthly or whatever interval that we might be choosing to add to our investment into bitcoin, we are determining how much of a priority  we are giving to bitcoin investing as compared with how much we our our discretionary funds that we are going to put into savings (back up funds) and/or discretionary consumption.  We likely have to put some of our discretionary funds into each of those categories, especially if we are giving some priority to our bitcoin investment and making sure that we are also trying to pend some money on our wants and to have some savings in case we make mistakes with our cashflow management, especially in the department of experiencing decreases in our income and/or increases in our expenses.. We need to be able to have money to cover those kinds of matters, especially if we are giving priority to our bitcoin investing and not wanting to tap into our bitcoin holdings at a time that is not of our own choosing, especially if we might have already committed to ourselves to have bitcoin as a long term investment, such as 4-10 years or longer.  These are choices and assignments of priorities that we make for ourselves based on our priorities and our desires to follow through with promises that we make to ourselves about what we are going to do and how much we are going to commit to achieving what we tell ourselves that we are going to do..

. According to my knowledge, 3 to 6 months of money should be kept in the emergency fund, which will protect us in case of sudden job loss, physical illness, or danger.

I think three months of emergency funds is enough because it takes a long time to set up three months of your monthly expenses like one year and above especially, for investors with low discretionary income. Such investors will find it difficult to build six months of their monthly expenses as their emergency funds.

Secondly, it wouldn't be wise to hold too much of cash back because fiat loses value overtime. This is why instead, of holding too much fiat, you should set up your emergency funds of at least three months and increase your bitcoin accumulation pace with your discretionary income.

Of course, if guys have some special situation, they might need to hold more cash than other guys, yet it is problematic to be holding too much cash, even though as we get richer and richer, we might consider it o.k. to hold larger amounts of cash, especially if our bitcoin size might get to be a year or more of our expenses, then we might feel that the cash is merely offsetting the bitcoin... but still the cash can be held in other forms, especially once it gets beyond 4-5 months... unless if we are specifically holding some cash for a specific purpose or known upcoming expense (like we are remodeling our house or some other large expense that we have to pay in a short period of time).

[edited out]

"Any time is the best time to buy Bitcoin " is DCA vibes, DCA that doesn't care about the price. Unlike lump sum that can easily go with waiting for the dip.
It is not general that low income earners or monthly/weekly income earners are the people who use DCA strategy. Not to forget, some people invest from already existing discretionary funds yet choose DCA strategy and using DCA strategy has nothing to do with believing in Bitcoin or not. It's personal financial decision to choose any investment strategy.

Lump sum buying and buying the dip are two different things.  Buying the dip does not convert into lump sum merely because it is a large amount, it is still buying the dip.

You are correct that DCA can apply to any income situation, and it can also apply to someone who purposefully prefers to spread his buys out over a certain period of time, even if he has the money available.

Other folks might be rich or poor yet they are buying as much bitcoin as they are able to buy as soon as they determine the money is available, and that would also be considered DCA.

[Y3shot]

Basically, financial stability is not mandatory and there is no need for it when starting an investment. It is necessary to use your own discretionary income when investing in Bitcoin. It is through this discretionary income that you can build up a system like emergency and reserve funds, which will help you sustain your investment during financial crises. An emergency fund along with other supporting funds is very important for an investor to hold his assets for a long time. And when we start investing with discretionary income, it will gradually become long-lasting.

Financial stability is very important, and if you are not stable, it is impossible to invest in Bitcoin. Financial stability is not about becoming rich; it is about being debt-free and being able to provide the basic things for yourself. If you are not financially stable, it is not even possible to have discretionary income. Financial stability is very important in Bitcoin investment. One of the reasons why it seems some people are financially stable is because they lack the understanding of how they can manage their income properly. Financial stability is not about having so much money, but about proper management of money. You must first be able to manage your small income to be stable in order to have discretionary income.

[landheer]

Basically, financial stability is not mandatory and there is no need for it when starting an investment. It is necessary to use your own discretionary income when investing in Bitcoin. It is through this discretionary income that you can build up a system like emergency and reserve funds, which will help you sustain your investment during financial crises. An emergency fund along with other supporting funds is very important for an investor to hold his assets for a long time. And when we start investing with discretionary income, it will gradually become long-lasting.

In my opinion, a stable income is essential when investing in BTC for the long term. Accumulating BTC will certainly be easier when you have a stable income. I've found that when your income is unstable, it can sometimes be difficult to set aside money for investments and other purposes. However, it's undeniable that you can invest in BTC even with an unstable income. However, sometimes you don't have to make deposits regularly and buy things on a regular basis, which is certainly different from when you have a stable income.

However, those with unstable incomes shouldn't be discouraged because you can buy BTC at any time. You can certainly buy BTC when you have money to lose or discretionary income, as sometimes you have a stable income and sometimes you don't. The mistake is made by people who buy BTC with borrowed funds.

[Gallar]

Someone who have a good understanding about Bitcoin, wouldn’t have to panic and sell their bitcoin immediately as soon as they find a situation with a dip in the price of bitcoin, instead that creates an opportunity and an avenue for them to keep buying bitcoin more consistently on a regular basis.

However mostly people who haven’t been buying bitcoin for quite a long time might panic when they have a situation that requires them to come situation of bear season, sometimes the bull market presents with and opportunity to buy bitcoin more cheaper and more affordable which might still not last for a very longest time and we might not learn everything about the situation before we can start investing.

That's why, before deciding to invest in Bitcoin, we should at least learn a little about it. Just like the price cycles that always occur with Bitcoin, this way, we won't panic when a downturn occurs. Because we already know that this is a downturn and that it's normal. Therefore, we won't panic at all when the price drops. So, this is where it's important to learn about the asset we're investing in. Because if we don't learn first, I think the results will be less than optimal and more troublesome.

While it's possible to learn while starting, I believe learning before starting is clearly more effective. Furthermore, the learning I'm referring to isn't complicated; we simply need to understand the Bitcoin price cycle, and that's enough. Because currently, most beginners panic because Bitcoin's price drops, so learning about price cycles will be very helpful for novice Bitcoin investors.

[Gaza13]

The only way an investor can keep his hands off his investment is, if he has something else to fall back on without disturbing his assets, that is the major reason it is advisable to be financially stable before engaging in investment else the person will not grow not even a bit because as he will be tempted to go back to his investment, no human can advance financial with this act, but with something else to hold on with them the long term investment becomes the best option and the investor grows financially, so having other means of income is best as it sustains and help with solving other personal issues involving money.

Look buddy, even though there’s a bit of truth to what you said here ,I still believe you’re wrong for saying that financial stability is the prerequisite to invest in bitcoin when In fact all that really matters is having discretionary income and knowing how to use it properly in your investment.and not to forget discipline because you mentioned in your above write-up that the only way an investor can keep his hand off his investment is by having another source of income to fall back on. Well I’m here to tell you that the only way a person can can hands off their investment is by having Psychological discipline because it is what will keep a person from dipping into their investments prematurely.

Financial stability is good, but it is not the compulsory or basics for starting up your investment or guarantees been able to HODL your assets for long. Even some folks who are financially stable may still tap from there investment or sell unplanned if they fail to build up back up funds from there discretionary which can help to sustain there investment in the days of lack and want.

Building an emergency funds and other back up funds are very necessary to help an investor HODL his assets longer. Another problem some investors have that tends to prevent them from holding there assets is there inability to ensure a proper income management and allocation. Some use there money carelessly, and this affects there ability to do a proper allocation, thus wasting there money on irrelevant things. However, while you are ensuring to build your emergency funds and other back up funds alongside your investment, also ensure to allocate and manage your resources properly

This is something a lot of individuals over look everybod talks about investing and holding but not enough people that talk about having a solid back up plan if your day to day finances are not in order it's easy to panic and sell when things get rough building emergency funds and managing income properly really makes all the difference at the end what's matters is discipline just as much as the investment.

The reason people talk about investing and holding for long term is because it has been observed that, it is the best way to go about Bitcoin because the short term won't give success due to the volatile nature of Bitcoin. While people are advised and recommend to invest for long term they also need to learn to figure out their discretionary income so they won't panic or sell because the reason some people Panic or sell most times is because they lack the knowledge of using discretionary income to accumulate.

Therefore, when investing, we should really manage the money we get wisely before you put your money in the assets you choose and you should also at least have sufficient knowledge in investing so that if fluctuations occur in the market, you will not panic too much when seeing the situation. There is no history of your short-term investments being successful or meeting your expectations. Even Buffett needed a long process, so don't dream that you can be successful in short-term investments. I think if you want to progress quickly and become wealthy, increase your income. The more income you have, the faster you'll achieve what you want. Don't rely on just one source of income to achieve success.

[iamsange]

Therefore, when investing, we should really manage the money we get wisely before you put your money in the assets you choose and you should also at least have sufficient knowledge in investing so that if fluctuations occur in the market, you will not panic too much when seeing the situation. There is no history of your short-term investments being successful or meeting your expectations. Even Buffett needed a long process, so don't dream that you can be successful in short-term investments. I think if you want to progress quickly and become wealthy, increase your income. The more income you have, the faster you'll achieve what you want. Don't rely on just one source of income to achieve success.

If you use the wrong financial management procedures it will be increasingly difficult to develop in investing because the amount of money someone has does not necessarily mean they can do it correctly in investing. This often happens among beginners because they only think about investing is short-term profits even though when they have healthy management procedures of course by having good finances this is certainly their step in picking up profits in the future but in such a way it is certainly difficult for them because what they do is not knowing how to generate more of their finances. This indicates that they still need to learn about wise thinking with another reason their goal in investing can reach the real peak so that success for them will become a reality in the investments they make.

[MissNonFall9]

You are saying nonsense, because Bitcoin will still be profitable in the future. And as for your information volatility is not only a risk in Bitcoin, it is also the reason why bitcoin has produced high returns in the past. And the reason why some investors still chose to invest in Bitcoin despite the uncertainty are:

Bitcoin is unique, only 21 million coins will ever exist, on like the traditional money that government can print as much money as they want.

Secondly, Even though the probability of success is not guarantee 100%, investors still chose it because the payoff can justify the risk.

Last but not list, investors still chose to invest in bitcoin because of growing global adoption, because despite Bitcoin volatile adoption keeps increasing.

Thank you for your important opinion and I agree with your words and I would also like to say that the reason why you called my words nonsense is the same reason you also said that “the chances of success are not 100 percent guaranteed”. You just highlighted one of my sentences but I did not finish my speech with just one sentence. Bitcoin is different from other cryptocurrencies which have given us very good profits in the past and I hope it will give good profits in the future as well. And success in the world does not come suddenly, you have to have patience and passion. So the main point is to stay with Bitcoin and that is through long term.

[JayJuanGee]

Basically, financial stability is not mandatory and there is no need for it when starting an investment. It is necessary to use your own discretionary income when investing in Bitcoin. It is through this discretionary income that you can build up a system like emergency and reserve funds, which will help you sustain your investment during financial crises. An emergency fund along with other supporting funds is very important for an investor to hold his assets for a long time. And when we start investing with discretionary income, it will gradually become long-lasting.

Financial stability is very important, and if you are not stable, it is impossible to invest in Bitcoin. Financial stability is not about becoming rich; it is about being debt-free and being able to provide the basic things for yourself. If you are not financially stable, it is not even possible to have discretionary income. Financial stability is very important in Bitcoin investment. One of the reasons why it seems some people are financially stable is because they lack the understanding of how they can manage their income properly. Financial stability is not about having so much money, but about proper management of money. You must first be able to manage your small income to be stable in order to have discretionary income.

You don't have to be financially stable to start to invest in bitcoin or even to continue to invest in bitcoin, even if being financially stable would be preferable and being financially stable might be something that guys should try to do.

The only thing that you need to get started investing in bitcoin is discretionary funds, and surely it would be good if a guy has common sense to be able to identify areas that he could improve, including managing his money, but those are not required to start investing in bitcoin or even to continue to buy bitcoin every once in a while.

Surely, many of us recognize and appreciate that investing is likely a 4-10 years or more endeavor, yet guys might have to develop those ideas and accept that timeline, and in order to be successful in their bitcoin investment, they also might need to learn the difference between trading and investing and to strengthen their cashflow management techniques and even strengthen their discretionary income.  But they don't need all of those matters in place in order to get started investing into bitcoin.  So you are wrong to proclaim some high level that guys need to have in place in order to get started investing in bitcoin and perhaps to even be able to continue to invest in bitcoin - even though each time a guy is deciding whether to buy more bitcoin, he has to make sure that he has discretionary funds at the time that he is making the new bitcoin purchase, and surely if the guy is going to be able to hang onto his bitcoin, he has to be able to pay for his expenses on an ongoing basis, and he may or may not have solid knowledge about his future income and/or his future expenses.... but it is still within his decision whether to buy and if so how much to buy and what measures he needs to take too make sure that he is NOT going to end up having to sell his bitcoin at a time that is not of his own choosing.

Someone who have a good understanding about Bitcoin, wouldn’t have to panic and sell their bitcoin immediately as soon as they find a situation with a dip in the price of bitcoin, instead that creates an opportunity and an avenue for them to keep buying bitcoin more consistently on a regular basis.

However mostly people who haven’t been buying bitcoin for quite a long time might panic when they have a situation that requires them to come situation of bear season, sometimes the bull market presents with and opportunity to buy bitcoin more cheaper and more affordable which might still not last for a very longest time and we might not learn everything about the situation before we can start investing.

That's why, before deciding to invest in Bitcoin, we should at least learn a little about it. Just like the price cycles that always occur with Bitcoin, this way, we won't panic when a downturn occurs. Because we already know that this is a downturn and that it's normal. Therefore, we won't panic at all when the price drops. So, this is where it's important to learn about the asset we're investing in. Because if we don't learn first, I think the results will be less than optimal and more troublesome.

While it's possible to learn while starting, I believe learning before starting is clearly more effective. Furthermore, the learning I'm referring to isn't complicated; we simply need to understand the Bitcoin price cycle, and that's enough. Because currently, most beginners panic because Bitcoin's price drops, so learning about price cycles will be very helpful for novice Bitcoin investors.

Guys should be able to figure out how much they feel  they need to know before starting, and if they might feel uncomfortable, maybe they start with $30 rather then $100. In other words position size can be adjusted, and getting started remains important.

[Bluedrem]

If you use the wrong financial management procedures it will be increasingly difficult to develop in investing because the amount of money someone has does not necessarily mean they can do it correctly in investing. This often happens among beginners because they only think about investing is short-term profits even though when they have healthy management procedures of course by having good finances this is certainly their step in picking up profits in the future but in such a way it is certainly difficult for them because what they do is not knowing how to generate more of their finances. This indicates that they still need to learn about wise thinking with another reason their goal in investing can reach the real peak so that success for them will become a reality in the investments they make.

Yes, you are right, if a person has a lot of money, he cannot be successful in investing unless he is aware of the issue of money management and cannot manage his money properly. For example, in the case of Bitcoin investment, people are always told to use discretionary income.
Now the question may arise, what is discretionary income?
Discretionary income is the money that is left after meeting a person's basic needs.
After meeting a person's basic needs, he can invest in Bitcoin by using a certain amount of money from the remaining money. In this case, the biggest advantage of investing using discretionary income is that the investment can be made long-term without stress and the basic condition of Bitcoin investment is that the long-term investment can be followed.

[Bigjoe33]

Someone who have a good understanding about Bitcoin, wouldn’t have to panic and sell their bitcoin immediately as soon as they find a situation with a dip in the price of bitcoin, instead that creates an opportunity and an avenue for them to keep buying bitcoin more consistently on a regular basis.

However mostly people who haven’t been buying bitcoin for quite a long time might panic when they have a situation that requires them to come situation of bear season, sometimes the bull market presents with and opportunity to buy bitcoin more cheaper and more affordable which might still not last for a very longest time and we might not learn everything about the situation before we can start investing.

That's why, before deciding to invest in Bitcoin, we should at least learn a little about it. Just like the price cycles that always occur with Bitcoin, this way, we won't panic when a downturn occurs. Because we already know that this is a downturn and that it's normal. Therefore, we won't panic at all when the price drops. So, this is where it's important to learn about the asset we're investing in. Because if we don't learn first, I think the results will be less than optimal and more troublesome.

While it's possible to learn while starting, I believe learning before starting is clearly more effective. Furthermore, the learning I'm referring to isn't complicated; we simply need to understand the Bitcoin price cycle, and that's enough. Because currently, most beginners panic because Bitcoin's price drops, so learning about price cycles will be very helpful for novice Bitcoin investors.

Guys should be able to figure out how much they feel  they need to know before starting, and if they might feel uncomfortable, maybe they start with $30 rather then $100. In other words position size can be adjusted, and getting started remains important.

The flexibility that goes with the DCA strategy makes it easy for folks to adjust there investment amount at will, either upwards or downwards depending on your financial situation or confidence in Bitcoin. And I really think it's a privilege that folks shouldn't joke with but should make good use of it.

Thus, it's easier for a new investor to begin with little amounts since he has no confidence of trust in the investment process yet, and while he keeps investing, he grows his knowledge, confidence, trust too, and then he can increase his investment amount to suit his finances and/or confidence in his investment.

So I think, the starting out amount shouldn't be a problem at all since folks can still be a bit afraid about there finances when they want to start. The adjustment can help to level things, but getting started once the discretionary is figured out makes or begins the difference

[Derekfunds]

Therefore, when investing, we should really manage the money we get wisely before you put your money in the assets you choose and you should also at least have sufficient knowledge in investing so that if fluctuations occur in the market, you will not panic too much when seeing the situation. There is no history of your short-term investments being successful or meeting your expectations. Even Buffett needed a long process, so don't dream that you can be successful in short-term investments. I think if you want to progress quickly and become wealthy, increase your income. The more income you have, the faster you'll achieve what you want. Don't rely on just one source of income to achieve success.

If you use the wrong financial management procedures it will be increasingly difficult to develop in investing because the amount of money someone has does not necessarily mean they can do it correctly in investing. This often happens among beginners because they only think about investing is short-term profits even though when they have healthy management procedures of course by having good finances this is certainly their step in picking up profits in the future but in such a way it is certainly difficult for them because what they do is not knowing how to generate more of their finances. This indicates that they still need to learn about wise thinking with another reason their goal in investing can reach the real peak so that success for them will become a reality in the investments they make.

You said something that i so much agree with which is " the amount of money someone has does not necessarily mean they can do it correctly in investing" and this is very correct, how big our source of income is doesn't guarantee straight road or way in Bitcoin investment because what will determine how smooth and stress free our investment will be is our discretionary income, you can have a huge source of income and yet you can not be able to sort a discrestionary though sometimes it can be challenges and expenses.

[fadhilz123]

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I could not agree with you, because a person who has a good source of income can certainly play a greater role in purchasing Bitcoin in following the Bitcoin DCA method. Therefore, a Bitcoin investor must have a prudent income, because if the source of income is good, he can maintain Bitcoin continuity according to the DCA method for investing in Bitcoin.
An income-seeking person can never participate in Bitcoin investment, so naturally, if he needs income, he can invest in Bitcoin properly and wait for a long time with holding.

What if the desire to invest isn't there?
Because I've seen some investors who have a steady income and a regular income stream, but they don't really like investing in Bitcoin, even though they don't hate Bitcoin entirely. Therefore, this desire to invest must also be in the investor's heart so that it can be sustainable over the long term by utilizing their own capital through certain methods. While what you say is not wrong, if a person's love and desire to invest in Bitcoin hasn't really developed, then no matter how much capital and income they have, it won't be immediately invested in Bitcoin.

[Jaycoinz]

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I could not agree with you, because a person who has a good source of income can certainly play a greater role in purchasing Bitcoin in following the Bitcoin DCA method. Therefore, a Bitcoin investor must have a prudent income, because if the source of income is good, he can maintain Bitcoin continuity according to the DCA method for investing in Bitcoin.
An income-seeking person can never participate in Bitcoin investment, so naturally, if he needs income, he can invest in Bitcoin properly and wait for a long time with holding.

What if the desire to invest isn't there?
Because I've seen some investors who have a steady income and a regular income stream, but they don't really like investing in Bitcoin, even though they don't hate Bitcoin entirely. Therefore, this desire to invest must also be in the investor's heart so that it can be sustainable over the long term by utilizing their own capital through certain methods. While what you say is not wrong, if a person's love and desire to invest in Bitcoin hasn't really developed, then no matter how much capital and income they have, it won't be immediately invested in Bitcoin.

It's a matter of choice and I believe not everyone actually will be a Bitcoin investor, there are so many person who don't feel the need to invest and they have all it takes in terms of capital and everything but just choose to be ignorant in investing and nothing can be done to even change their mindset.  Also there are people who don't have the robust means of income but yet maintain the goal and aim of investing in the process growing little by little till they are balance and okay.

[Grace333]

It's a matter of choice and I believe not everyone actually will be a Bitcoin investor, there are so many person who don't feel the need to invest and they have all it takes in terms of capital and everything but just choose to be ignorant in investing and nothing can be done to even change their mindset.  Also there are people who don't have the robust means of income but yet maintain the goal and aim of investing in the process growing little by little till they are balance and okay.

If anyone has made up their minds to not invest in bitcoin there is no need to keep pressing them instead, you can focus that energy on someone who has interest in bitcoin. Though I know how it feel when you try to help a friend with a good advice amd something that might really help them but they still end up n8t seeing the worth of the whole thing and decline your offer. People who don't see the worth of bitcoin when they are told to buy likely end up regretting not buying when they were asked to, so maybe that friend might realize and end up accumulating bitcoin but at a more expensive price.

One good thing about bitcoin is that yesterday was the best time to buy and today is the second best time to buy, so even if anyone misses buying before they can jump into bitcoin anytime but at a more expensive and who knows how much of demage inflation might have caused them during that period of their indecision.

[JayJuanGee]

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I could not agree with you, because a person who has a good source of income can certainly play a greater role in purchasing Bitcoin in following the Bitcoin DCA method. Therefore, a Bitcoin investor must have a prudent income, because if the source of income is good, he can maintain Bitcoin continuity according to the DCA method for investing in Bitcoin.
An income-seeking person can never participate in Bitcoin investment, so naturally, if he needs income, he can invest in Bitcoin properly and wait for a long time with holding.

What if the desire to invest isn't there?
Because I've seen some investors who have a steady income and a regular income stream, but they don't really like investing in Bitcoin, even though they don't hate Bitcoin entirely. Therefore, this desire to invest must also be in the investor's heart so that it can be sustainable over the long term by utilizing their own capital through certain methods. While what you say is not wrong, if a person's love and desire to invest in Bitcoin hasn't really developed, then no matter how much capital and income they have, it won't be immediately invested in Bitcoin.

Some rich people might not be motivated to invest because they believe that their life is going to continue to be great because they are rich.. so they are failing to plan properly.

Some other folks may not want to work all of their lives, os they might want financial freedom instead of working until they are 60, 70, or older, and perhaps suffering in health through their having to work.

Some people might not realize that they need to invest until they are in their 40s or 50s, and then by that time, they do not have as much time to build up their investment and to have time work for them, as compared with the guys who start investing when they are younger, such  as in their 20s or early 30s.

If 10 years pass, you cannot go back and redo the mistake that involved your failure/refusal to financially prepare for your future.

Each person can do what they like in terms of their motivation and the consequences of their choice earlier in their lives.