Buy Buy Buy or Sell Sell Sell?

[Charcol]

I somewhat agree with your view that Bitcoin's the best. Bitcoin is special because it is not controlled by any one person or group which makes it like a version of gold and a great way to store money.

I do not think it is fair to say that Ethereum or other alternative coins are not worth anything. While Bitcoin is good, for storing money Ethereum is a platform that allows for different things to be built on it. Its smart contracts and other technologies are helping to keep the blockchain system moving forward.

Bitcoin and Ethereum were made for reasons. Bitcoin wants to be a currency that everyone can use while Ethereum wants to be a new way for people to do financial things on the internet. Even though Ethereum was started by one person it has grown into something bigger and more diverse. So of only investing in Bitcoin I think it is a good idea to also consider Ethereum because of its technology. Bitcoin is still a core investment but Ethereum should not be ignored.

How you try to compare Bitcoin to ethereum do looks strange how you not looking into the success range of Bitcoin and Ethereum over the years and which would you encourage an investor to plunge his money into it for a long period of investment term.

When was ethereum last All Time high? How do you encourage a long term investor to alternate on such a coin over Bitcoin that have made several highs from when last ethereum did it last high.

Ethereum in a way is a shit coin, centralised, meaning it can easily buy manipulated in price and where utility is prioritised ethereum does not come close to Bitcoin. 

Ethereum is a baby when compared to Bitcoin, one that the growth is stunted. People forget the reason for all this other coins is just alternative to Bitcoin. Nothing can be as good as the original.

Investors who want to grow their wealth for the future will not think twice about investing in Bitcoin cos they understand what they’ll be getting. Only Gamblers and short term hunters will be diverging into alt, shit or meme coins.

I think we are getting off the main discussion. Here we usually feel more comfortable discussing Bitcoin Accumulation. Comparing Bitcoin with any other coin is the most stupid thing. At least I would say that you should go to the Altcoin Discussion Board to discuss these issues. Because the main discussion here should be Bitcoin accumulation, long-term holding, cash flow, regular purchases and staying away from the shitcoin/altcoin confusion.

[Futurexxx]

People often neglect Bitcoin when they mention Ethereum; even if Ethereum is currently the strongest Altcoin, its performance is still relatively poor when compared to Bitcoin.
I don't recommend investing in altcoins, shitcoins, or any other cryptocurrency other than bitcoin. I won't push anyone into anything I don't trust unless it's for fun or gambling.

Their is no justification in investing in alt coin when their is Bitcoin because even the ethereum you made mentioned is still as shitty as as every other shitty coin out there.
 Ethereum and every other shit coin out there has proven over time that they falls more than they rise, so is that what we should be investing our hard earned money on? No.
So the best thing we can do for ourselves is to accumulate Bitcoin consistently through our discretionary income, so that we wouldn't be left behind in regret when Bitcoin has risen to a million dollars or more in the future.

[Primark]

If someone wants to learn to swim, they have to jump into the river. Only then can they become a better swimmer, because you can never become a good swimmer just by standing outside.
The same rule applies in investing if someone wants to learn trading or the basics about investing he needs to put some money in because this will help him, and he will have a better understanding and value of things.
Bitcoin investment surely has big potential, and everyone can take advantage of this. I'm already in and now looking for more and better understanding. This is only possible while I'm in with my funds.

Yes,, in some ways, I agree with your assumption, friend. It's true that someone who doesn't directly dive into the field they're pursuing will certainly not achieve the same results as someone who does. But it's also important to remember that if you compare someone investing in Bitcoin to someone jumping into water,, I think there's one thing you should consider. What would happen if someone who can't swim at all and doesn't even know the theory of swimming jumped straight into deep water?? I'm sure that would be extremely dangerous and could even be life-threatening...

Therefore,, even if they can't swim initially,, to be safer, they should first learn swimming theory, which they can then apply once they're in the water. So, I think this is also very important to consider when someone wants to invest in Bitcoin. Because basically, if someone immediately jumps into Bitcoin with zero knowledge, it will definitely be very dangerous. Therefore, it is very important to understand the basics of how to invest in Bitcoin before jumping in.

you don't necessarily need a basic knowledge as per starting to invest in bitcoin. What you need is common sense on how figure out the availability of Discretionary Income then after that you gain whatever knowledge that is important as you continue with your bitcoin accumulation. So it won't be a wise idea for someone that has figured out there Discretionary income not to start accumlating bitcoin because they want to acquire basic knowledge before starting. All what they need is common sense on how to figure out things.

I think it's obvious with common sense, and to do something you have to at least know about it. So, having some basic knowledge at least makes more sense than nothing, especially in something that involves risk of loss having some basic knowledge is certainly better than nothing. However, if we jump into something just by relying on common sense alone without any knowledge at all, of course that's not right, although it can be while learning too, but at least having the supplies first in my opinion is better than nothing.

Making basic knowledge a prerequisite before starting can often delay new people unnecessarily, because learning never stops once you start. If a new investor thinks that he will understand everything and invest first, then this is just an excuse to delay or not start. What a new investor who wants to start needs is discretionary income. Because learning Bitcoin and saving can go hand in hand, and it can even be learned through real experience. Starting with a small amount with little knowledge is not a problem, but not starting with the excuse of learning the so-called basic knowledge, blindly borrowing a large amount at the beginning, going to shitcoins, expecting quick profits, and starting with the money for necessary expenses can be the biggest mistake.

[Female King]

Not only in Bitcoin even if in another thing  that we invest you can not even use all your funds to invest, talk More of Bitcoin, and Bitcoin is not short time business is long time run business. So you should not have the mindset to invest all your money there, so you should have discretionary funds. and also you should learn crypto understand everything, I we not advice you to borrow money, just start small and stay calm.

Yes it's a wrong idea to use all our money to invest in bitcoin infact anybody doing this is just gambling and didn't get the right approach tin investing in bitcoin, it's said that we should use only our discretionary income to invest in bitcoin that is money that is left after we settle all other important needs.

Again you don't need mentioning crypto since that's not the main point here but bitcoin and you don't have to understand everything about bitcoin before getting started, it's said that for you to know more about something you have to be involved in that you have to get started first just with your basic knowledge and discretionary income then as you keep investing that's how you will understand more about bitcoin investment.

[MusaPk]

Their is no justification in investing in alt coin when their is Bitcoin because even the ethereum you made mentioned is still as shitty as as every other shitty coin out there.
 Ethereum and every other shit coin out there has proven over time that they falls more than they rise, so is that what we should be investing our hard earned money on? No.
So the best thing we can do for ourselves is to accumulate Bitcoin consistently through our discretionary income, so that we wouldn't be left behind in regret when Bitcoin has risen to a million dollars or more in the future.

Ethereum is a coin that is controlled by a group of developers and they are the one who shifted Ethereum from PoW to PoS few years ago. If these developers can change consensus algorithm of Ethereum then they also have the ability to do more alterations in future. Bitcoin right now is the only true decentralised cryptocurrency available in the market while rest of all coins are centralised i.e. they are controlled by a set of people. This is why Bitcoin is coin that I only focus on for investment for long term. Ethereum price is no more moving with Bitcoin price because people are also having idea that it doesn't have parameters like Bitcoin.

[Merit.s]

It is not a good idea to be reducing your buying strength in bitcoin because of your increased expenses, why not look for an alternative job to boost your income because reducing your buying strength will slow you building up process in bitcoin that means anytime you have high expenses, it is your bitcoin investment that pays the price if you continue like that it will be difficult to get to your over accumulation stage, an investment which is to take five years will end up taking 10 years with the same amount allocated for it , it show unseriousness in the part of the investor.

A consistent DCA might not be able to buy bitcoin all through 520 weeks for ten years because he might not be able to have his discretionary income available in 520 weeks. What you do as a bitcoin investor is that, you should only buy bitcoin when you have a discretionary income. Some weeks, you expenses might be very high than the normal amount and that will reduce the size of your discretionary income. You cannot kill yourself than to buy bitcoin with whatever amount is left.

In some weeks, you expenses will be little compared to your initial amount, you will have higher discretionary income, you are buy bitcoin with it. If your expenses ends up eating up all your discretionary income, you don't need to worry of buying at that time or force yourself, otherwise, you will sell those bitcoin at loss when your needs arise.

However, it's good to cut down expenses and look for other means to increase our income as we are investing in bitcoin so that, we can continuously accumulate bitcoin with consistency and persistently by looking for second job, learn a skill or get a higher qualification to boost oue income so that, we can invest aggressively.

It's not the amount that you are using to accumulate bitcoin that matters, your consistency matters a lot no matter how little your discretionary income is.

[POPOLUV]

Perhaps you used common sense to figure out what you knew and what you did not know, and you determined what you felt that you needed to know in order to feel more comfortable getting started and to figure out your starting out amount.  You did not necessarily need to know any specific thing about bitcoin in order to get started, beyond maybe where to source it.. and you could largely learn as you go, yet you decided that you wanted to feel more comfortable with certain aspects of bitcoin prior to your getting started, yet others come to bitcoin with other skills, knowledge and/or experiences that might contribute to their drawing the line in a different place in terms of what more that they felt that they needed to learn before getting started.

Your message is well clear and understandable, yet so many people will still find it difficult to understand the fact that we don't need be feel more comfortable before getting started, as a newbie or older investors that has been in the forum so long now but it waiting for learn in full details about Bitcoin before investing or having a major sources of income before considering if you will actually invest or not, you are really wasting much time, whereby you could have gone far with your accumulation, yet stick back learn all about Bitcoin before investing, it is very wrong to wait, when could just proceed to invest and learn, gather experience through your investments journey and not miss out any market opportunities that might happen any year.

[ChocolateBitcoinK]

Nowadays, many new traders entry the market hoping to buy at a low price and sell at a higher price. But in reality things are not that simple. fear during price drops and greed during price increases often lead people to make wrong decisions which later causes losses.
In my opinion chasing profit without understanding the market and the risks involved is a big mistake. Making small but consistent profits over time is much better than running after unrealistic gains.
In trading, learning technical analysis is important, but controlling emotions and making the right decisions at the right time are equally important.

First determine where your focus is (investment or trading). If the focus is trading related, then this is the wrong place for you. Here we only discuss long-term investment in Bitcoin. A new investor should gain general knowledge about Bitcoin and long-term investment. And it is very important to know with what money to start his investment activities. A person will start his investment activities in Bitcoin with the money that is left after meeting his basic needs (it can be $ 10). And we know that, just as for success in any work, consistency is needed, in order to invest in Bitcoin, an investor will continue to buy and collect Bitcoin on a weekly or monthly basis (whichever is his comfort zone) and hold it for at least 4-10 years. In this way, if you invest patiently and keep the mindset of long-term investment, the rate of success from that investment is much higher than any other work.

The main problem some persons encounter in Bitcoin investments is lack of basic knowledge about Bitcoin and it investment, because if a person is not fit enough to bare the changes in price, a person might end up depressed, watching the money they invented turn almost zero, for someone who does not know about discretionary income and emergency funds, and ended up investing almost everything he had hoping the price will go up soon, and it turns to be the opposite. Really that basic knowledge is very important and a person should also made up their mind on what investment method they want to operate, either long term or short term investment to avoid confusion.

It is rightly said that without basic knowledge, a person will stumble in any endeavor. Therefore, it is better to start investing especially in Bitcoin, by acquiring basic knowledge so that you do not face any dilemma later on. To be successful in investing in Bitcoin, you have to develop an investment mindset based on a long-term basis, otherwise there is a strong possibility of losses instead of benefits from investing in Bitcoin.

There are many people who start investing in Bitcoin without the necessary understanding, they first move forward with acquiring the necessary knowledge about Bitcoin, They just think that Bitcoin will bring them short-term profits exactly the way they have heard from other people about Bitcoin. but they are wrong, because of this ignorance of the knowledge they have ignored about Bitcoin, they will make many big wrong decisions after some time, because then they will become very scared as soon as they see a little volatility, due to which their investment will face a lot of losses. Bitcoin is a very volatile asset, so if there is no basic understanding of market fluctuations, holding strategies and risk management, then many people panic and make wrong decisions even at a slight price drop. And in order to avoid this making wrong decisions at such times, it is necessary to start investing by acquiring general knowledge about Bitcoin, then our investment will be protected from the initial state.

[Showlove01]

The thinking of making quick money leads people in the wrong way, so a newbie should stay away from this kind of mindset to avoid losses. That is why I am only mentioning the newbies here that many people come to the crypto space with the intention of making quick money. And those who are experienced already know the matter well. Because the first thing that needs to be known for success in any work is money management.

So what a person needs to be successful in Bitcoin is patience. The opposite mentality of quick profit is to stick with Bitcoin patiently. Although investing patiently sounds easy, it is a little difficult but its results are much better than a person's expectations. So, leave the shitcoin and continue to invest with Bitcoin with long term objectives.

Managing money well is one of the keys to achieving success in anything that involves money such as doing business or investing or trading, besides that we must also be able to manage ourselves not to be complacent about the benefits obtained which makes us forget about the risks. Also with the mindset that of course it is a mistake to set from the beginning to do something only prioritizing money, so only thinking about fast money schemes, it will only make things worse. It's better if we can think of ways to keep it going well. As in BTC investing, the difficult thing is to maintain it (HOLD).

I also don't like to work only with money as a priority. Because this mentality will encourage a person or an investor to go the wrong way. So we should focus on building a large amount of wealth in a stable way. So whoever has discretionary income should start using it for investment, even if it is a very small amount. Gradually, by constantly investing in Bitcoin, a large amount of wealth will be built up at one time.

You seems confuse because I don't understand why an investor would not work with money as a priority, money is a major priority in almost everything we are doing in life including investing in Bitcoin. If you don't have money how do you intend to figure or sort out your discrestionary income?  Again, we don't need to build a large amount of money in a stable way before we should start accumulating Bitcoin as stable income is not compulsory to start Bitcoin investment but rather what is needed is a discrestionary income.

[abaeze]

Their is no justification in investing in alt coin when their is Bitcoin because even the ethereum you made mentioned is still as shitty as as every other shitty coin out there.
 Ethereum and every other shit coin out there has proven over time that they falls more than they rise, so is that what we should be investing our hard earned money on? No.
So the best thing we can do for ourselves is to accumulate Bitcoin consistently through our discretionary income, so that we wouldn't be left behind in regret when Bitcoin has risen to a million dollars or more in the future.

Ethereum is a coin that is controlled by a group of developers and they are the one who shifted Ethereum from PoW to PoS few years ago. If these developers can change consensus algorithm of Ethereum then they also have the ability to do more alterations in future. Bitcoin right now is the only true decentralised cryptocurrency available in the market while rest of all coins are centralised i.e. they are controlled by a set of people. This is why Bitcoin is coin that I only focus on for investment for long term. Ethereum price is no more moving with Bitcoin price because people are also having idea that it doesn't have parameters like Bitcoin.

Developers maintain the Bitcoin Core software. Miners have mining pools or power concentration and large exchanges influence the market. If 51% of the total supply of 21 million Bitcoins were to be controlled, would Bitcoin still be considered pure decentralized?
However, the fact that node operators, developers, exchanges, and the community all have to accept the upgrade, this does not mean that it has become centralized. However, of course, Bitcoin has maintained the highest security, acceptance, and decentralization among the whole crypto platforms so far.

[arwin100]

Perhaps you used common sense to figure out what you knew and what you did not know, and you determined what you felt that you needed to know in order to feel more comfortable getting started and to figure out your starting out amount.  You did not necessarily need to know any specific thing about bitcoin in order to get started, beyond maybe where to source it.. and you could largely learn as you go, yet you decided that you wanted to feel more comfortable with certain aspects of bitcoin prior to your getting started, yet others come to bitcoin with other skills, knowledge and/or experiences that might contribute to their drawing the line in a different place in terms of what more that they felt that they needed to learn before getting started.

Your message is well clear and understandable, yet so many people will still find it difficult to understand the fact that we don't need be feel more comfortable before getting started, as a newbie or older investors that has been in the forum so long now but it waiting for learn in full details about Bitcoin before investing or having a major sources of income before considering if you will actually invest or not, you are really wasting much time, whereby you could have gone far with your accumulation, yet stick back learn all about Bitcoin before investing, it is very wrong to wait, when could just proceed to invest and learn, gather experience through your investments journey and not miss out any market opportunities that might happen any year.

This is the first mistake they made because waiting they they can master all the detail before jumping on will cause to much delays for them. Imagine how long it will take before they learn all those things they want to know, also market and situation changes so maybe they halt again their start because they want to learn again those changes happen.

So in reality the best thing to do is to start as soon as possible because they could learn on their experiences. Also as long as they are using their discretionary funds they are fine and thru the whole process of their accumulation for sure they could learn something new which is so helpful with their investment. Its a long journey if they decide to go with long term investment on Bitcoin. So take action now and learn thru the process and those challenges they encounter can help them build their confidence and trust to proceed to accumulate lots of Bitcoin.

[Jody.Drummer]

I think it's obvious with common sense, and to do something you have to at least know about it.

I guess if an investor has common sense they will not have to put alot of money into Bitcoin for a start either because of what people are saying or one thing or the other. Isn't it obvious that when a beginner has common sense they will not invest with money for their survival? So they will only invest with small amount of money from their discretionary income. It's not a must that you will learn before you start, all you need is discretionary income (small amount of money from your discretionary income). Actually I believe many people panic when the price start going down because they don't have the common sense to know that Bitcoin price won't stay down forever.
Based on my own understanding, with common sense you will understand that it's profit is not guaranteed so you wouldn't want borrow money to buy Bitcoin, an investor with common sense will understand the importance of DCA strategy, will also understand why it's important to hold Bitcoin for a very long period of time.

but at least having the supplies first in my opinion is better than nothing.

For the fact that you have the common sense to begin with, you are not starting Bitcoin investment with nothing. If you have common sense, you will understand that waiting to learn everything before you start buying Bitcoin will definitely delay your accumulation process. So the important thing is getting started with discretionary income so long as you have the common sense to begin with. Learning can literally delay a beginner because learning never ends, so common sense serves best, you can learn other necessary things while buying.

It's true what you said, and I agree with it, it's just that I myself think it's like about wise thinking which is actually not much different, maybe we just misunderstand the meaning of it. And by saying common sense, I think of course someone will also think that having basic knowledge doesn't matter either, like having an umbrella before it rains. Someone who has common sense must also be able to consider his finances, but he can invest with a small amount of money that is not too big because of his lack of knowledge.

[Tonimez]

It is not a good idea to be reducing your buying strength in bitcoin because of your increased expenses, why not look for an alternative job to boost your income because reducing your buying strength will slow you building up process in bitcoin that means anytime you have high expenses, it is your bitcoin investment that pays the price if you continue like that it will be difficult to get to your over accumulation stage, an investment which is to take five years will end up taking 10 years with the same amount allocated for it , it show unseriousness in the part of the investor.

A consistent DCA might not be able to buy bitcoin all through 520 weeks for ten years because he might not be able to have his discretionary income available in 520 weeks. What you do as a bitcoin investor is that, you should only buy bitcoin when you have a discretionary income. Some weeks, you expenses might be very high than the normal amount and that will reduce the size of your discretionary income. You cannot kill yourself than to buy bitcoin with whatever amount is left.

Folks need to understand that bitcoin is not a do or die affair and should stop making it look like one. It has been said here severally that you should only invest with your Discretionary income even if you want to be aggressive because your discretionary income is the money you won't be needing anytime soon. This is because if you decide yourself into investing beyond what you can HODL, you may end up loosing your money because a time will come when you will not be able to HODL further and you will sell, perhaps at loss. Our responsibilities are not fixed, so there's no way our 10 years DCA allocation will be the same and if you insist on keeping it uniform, you may never reach your goal when challenges come.

In some weeks, you expenses will be little compared to your initial amount, you will have higher discretionary income, you are buy bitcoin with it. If your expenses ends up eating up all your discretionary income, you don't need to worry of buying at that time or force yourself, otherwise, you will sell those bitcoin at loss when your needs arise.

You're very correct. There could be times when a person would even discover he has a very minor expenses and if he is actually a bitcoin lover, he won't hesitate to invest more than he used to invest other weeks or months. It is true that beginners can get so excited that they forget themselves while settling an accumulation target. This is not supposed to be because, any mistakes you make in bitcoin may ruin your many years of investing in bitcoin when emergency arises.

However, it's good to cut down expenses and look for other means to increase our income as we are investing in bitcoin so that, we can continuously accumulate bitcoin with consistency and persistently by looking for second job, learn a skill or get a higher qualification to boost oue income so that, we can invest aggressively.

It's not the amount that you are using to accumulate bitcoin that matters, your consistency matters a lot no matter how little your discretionary income is.

Consistency is the real deal for achieving greatness is consistency and being true to yourself instead of playing around with your investment once you have your Discretionary income. There are always a thousand and one reasons to procrastinate with your bitcoin accumulation. So you should be careful to do the right thing always and adjust your investment amount when necessary.

[alankasman]

You're very correct. There could be times when a person would even discover he has a very minor expenses and if he is actually a bitcoin lover, he won't hesitate to invest more than he used to invest other weeks or months. It is true that beginners can get so excited that they forget themselves while settling an accumulation target. This is not supposed to be because, any mistakes you make in bitcoin may ruin your many years of investing in bitcoin when emergency arises.

This is because a person has very small expenses making it natural for them to accumulate Bitcoin over any period of time. It's clear that someone doesn't have many expenses because they don't have responsibilities so when they have income they have more left over than expenses. If this happens when someone invests it's as if they don't remember the time to invest. This person will have a substantial amount of assets because they always accumulate Bitcoin and every time they receive income they immediately use a portion of their needs to invest in Bitcoin.

And this part of the doubt is not a problem because it does not have responsibility and in contrast to the opposite for people who have responsibility sometimes every time there is income generated of course expenses will be more and this does not mean that someone does not want to accumulate on the grounds that the sufficiency of the income generated is very limited and only enough for the needs spent so that no matter how it is done it will not be possible to accumulate Bitcoin unless one of the ways is to have an alternative job that can produce a source of income that can be invested by accumulating Bitcoin with an amount that will be collected into assets in the future.

[Mr_Brilliant$]

There are many people who start investing in Bitcoin without the necessary understanding, they first move forward with acquiring the necessary knowledge about Bitcoin, They just think that Bitcoin will bring them short-term profits exactly the way they have heard from other people about Bitcoin. but they are wrong, because of this ignorance of the knowledge they have ignored about Bitcoin, they will make many big wrong decisions after some time, because then they will become very scared as soon as they see a little volatility, due to which their investment will face a lot of losses. Bitcoin is a very volatile asset, so if there is no basic understanding of market fluctuations, holding strategies and risk management, then many people panic and make wrong decisions even at a slight price drop. And in order to avoid this making wrong decisions at such times, it is necessary to start investing by acquiring general knowledge about Bitcoin, then our investment will be protected from the initial state.

There is actually a misconception between having the required basic knowledge and concept of Bitcoin, and fully understanding Bitcoin in depth before starting your Bitcoin investment…

Everyone keeps saying you don’t need to have knowledge of Bitcoin before you start investing, which is somehow true to an extent..  But my own question is, does it hurt to at least have a little basic idea and concept at the beginning? it doesn’t…

A lot of mistakes many new Bitcoin investors make today happened because they started blindly, without even understanding the basics..  That is why many of them end up thinking only short term instead of long term or even make silly mistakes that could have been avoided easily…

I am not saying someone must know everything about Bitcoin first before investing, No.. But at least the basic knowledge will not hurt at all…  In fact, it even helps with simple things like creating wallets properly, understanding how to buy safely, and understand what they are investing into…

[Solokan]

Their is no justification in investing in alt coin when their is Bitcoin because even the ethereum you made mentioned is still as shitty as as every other shitty coin out there.
 Ethereum and every other shit coin out there has proven over time that they falls more than they rise, so is that what we should be investing our hard earned money on? No.
So the best thing we can do for ourselves is to accumulate Bitcoin consistently through our discretionary income, so that we wouldn't be left behind in regret when Bitcoin has risen to a million dollars or more in the future.

Yes, why invest in altcoins when there's Bitcoin? No matter how good an altcoin is, it won't outperform Bitcoin. In my opinion, altcoins are just a short-term game, but BTC is certainly a valuable asset with significant potential for significant growth in the future. So, if you intend to invest, BTC is the right choice, and it's certainly using discretionary income.

But I think over time, people will realize that investing in BTC will be prioritized. The proof is that BTC's price consistently rises, inevitably setting new highs. Because many people lose money investing in altcoins, they will eventually switch to BTC.

[Emmanuel9977]

There are many people who start investing in Bitcoin without the necessary understanding, they first move forward with acquiring the necessary knowledge about Bitcoin, They just think that Bitcoin will bring them short-term profits exactly the way they have heard from other people about Bitcoin. but they are wrong, because of this ignorance of the knowledge they have ignored about Bitcoin, they will make many big wrong decisions after some time, because then they will become very scared as soon as they see a little volatility, due to which their investment will face a lot of losses. Bitcoin is a very volatile asset, so if there is no basic understanding of market fluctuations, holding strategies and risk management, then many people panic and make wrong decisions even at a slight price drop. And in order to avoid this making wrong decisions at such times, it is necessary to start investing by acquiring general knowledge about Bitcoin, then our investment will be protected from the initial state.

There is actually a misconception between having the required basic knowledge and concept of Bitcoin, and fully understanding Bitcoin in depth before starting your Bitcoin investment…

Everyone keeps saying you don’t need to have knowledge of Bitcoin before you start investing, which is somehow true to an extent..  But my own question is, does it hurt to at least have a little basic idea and concept at the beginning? it doesn’t…

A lot of mistakes many new Bitcoin investors make today happened because they started blindly, without even understanding the basics..  That is why many of them end up thinking only short term instead of long term or even make silly mistakes that could have been avoided easily…

I am not saying someone must know everything about Bitcoin first before investing, No.. But at least the basic knowledge will not hurt at all…  In fact, it even helps with simple things like creating wallets properly, understanding how to buy safely, and understand what they are investing into…

What give you mindset for the first place to go for something you don't have any idea, even you yourself you know that you are a hazard for your self, talk more of Bitcoin at list you need to have the knowledge before you think of investing your money, you need to understand that Bitcoin is not for a short time is long run, most people who don't understand end up losing because most people think that once dey invest there money there dey we get rich in overnight but it ,doesn't work like that is gradually process, before you think of investing in Bitcoin you need to have patient that is number one thing, because Bitcoin can rase at any time you doing except it that is why you need patient  because if you don't have patient you we lose your money, Bitcoin is not stable it rase and fall
and also you need to have target too.

[Tetu100]

What give you mindset for the first place to go for something you don't have any idea, even you yourself you know that you are a hazard for your self, talk more of Bitcoin at list you need to have the knowledge before you think of investing your money, you need to understand that Bitcoin is not for a short time is long run, most people who don't understand end up losing because most people think that once dey invest there money there dey we get rich in overnight but it ,doesn't work like that is gradually process, before you think of investing in Bitcoin you need to have patient that is number one thing, because Bitcoin can rase at any time you doing except it that is why you need patient  because if you don't have patient you we lose your money, Bitcoin is not stable it rase and fall
and also you need to have target too.

Their is no way you can be a successful bitcoin investor without poccessing an important virtue like patience. You shouldn't be the type that want everything  to happen so fast, you must be patient enough to wait till it get set for you to start enjoying it. Furthermore, their is this uniqueness about bitcoin investment that has set it above every other investment plan that you can ever think of, it's secured, it is legit and has being tested unlike others that isn't guaranteed. Those that invested in the long term plan and has pretty being consistent in their accumulation for some times now, I will start by congratulating them in advance because they will be earning themselves a live time fortune through their investment decision they made today.

[ruykeri]

Their is no justification in investing in alt coin when their is Bitcoin because even the ethereum you made mentioned is still as shitty as as every other shitty coin out there.
 Ethereum and every other shit coin out there has proven over time that they falls more than they rise, so is that what we should be investing our hard earned money on? No.
So the best thing we can do for ourselves is to accumulate Bitcoin consistently through our discretionary income, so that we wouldn't be left behind in regret when Bitcoin has risen to a million dollars or more in the future.

Yes, why invest in altcoins when there's Bitcoin? No matter how good an altcoin is, it won't outperform Bitcoin. In my opinion, altcoins are just a short-term game, but BTC is certainly a valuable asset with significant potential for significant growth in the future. So, if you intend to invest, BTC is the right choice, and it's certainly using discretionary income.

But I think over time, people will realize that investing in BTC will be prioritized. The proof is that BTC's price consistently rises, inevitably setting new highs. Because many people lose money investing in altcoins, they will eventually switch to BTC.

I agree with you. You are totally right. And I don't think that at this time, after learning about Bitcoin, anyone will invest in another altcoin instead of Bitcoin. There is no need to doing such foolishness. Where investing in Bitcoin for a long term is very likely to make a profit. But even then, people still decide to invest in such altcoins just for  making a profit in a short time. ETH came almost about 6 years after Bitcoin was created. Whereas Bitcoin is around $80k today after about 16+ years. But ETH has not shown much growth compared to Bitcoin even after 10+ years. Bitcoin rose to ATH $126K, compared to that ETH is nothing. Therefore, altcoins should never be compared to Bitcoin in any way. And if someone has the ability to invest, they should invest in Bitcoin.

[MissNonFall9]

Perhaps you used common sense to figure out what you knew and what you did not know, and you determined what you felt that you needed to know in order to feel more comfortable getting started and to figure out your starting out amount.  You did not necessarily need to know any specific thing about bitcoin in order to get started, beyond maybe where to source it.. and you could largely learn as you go, yet you decided that you wanted to feel more comfortable with certain aspects of bitcoin prior to your getting started, yet others come to bitcoin with other skills, knowledge and/or experiences that might contribute to their drawing the line in a different place in terms of what more that they felt that they needed to learn before getting started.

Your message is well clear and understandable, yet so many people will still find it difficult to understand the fact that we don't need be feel more comfortable before getting started, as a newbie or older investors that has been in the forum so long now but it waiting for learn in full details about Bitcoin before investing or having a major sources of income before considering if you will actually invest or not, you are really wasting much time, whereby you could have gone far with your accumulation, yet stick back learn all about Bitcoin before investing, it is very wrong to wait, when could just proceed to invest and learn, gather experience through your investments journey and not miss out any market opportunities that might happen any year.

It is a widely discussed topic in Bitcoin that any kind of waiting (waiting for detailed knowledge, waiting for a large source of income, waiting for a dip, waiting for the right time, etc.) in investing in Bitcoin constantly delays an investor from success. All kinds of waiting distance investment from potentially effective success and large wealth creation opportunities. Therefore, it would be wise to start investing and explore all kinds of opportunities.