Buy Buy Buy or Sell Sell Sell?

[Finebone]

To me, Bitcoin is made to save and sold whenever it comes well with my price, it never have a specific period of time or years before selling if one have the opportunity to be able to save some coins

I think that you should take your pathetic idea about Bitcoin somewhere else, or better still keep shut if you don't have any sensible thing to say, because by the look of things, you are very ignorant to understand that Bitcoin should not be traded, but rather, be accumulated and held for a very long time.

Without making extra income, no one will purchase Bitcoin because the process or system is built for profitable reasons, Bitcoin are not for fancy in the digital marketing or wallets rather for buying and selling to make profit or increase one's income.

Stop acting like a clown and start learning if you don't know how Bitcoin investment works, because investment in bitcoin is made possible only if you can figure out your discretionary income, which is the money that is left, after all your basic expenses has been met, so making extra income as you said is not a guarantee that you can figure out your discretionary income, from your net income.
Or are you trying to say that all those that invested in bitcoin has extra source of income?
It's high time you stop living in the dark and faces reality because Bitcoin investment is not all about profit as you think, since your brain is already wired that way.

[Promocodeudo]

Without making extra income, no one will purchase Bitcoin because the process or system is built for profitable reasons, Bitcoin are not for fancy in the digital marketing or wallets rather for buying and selling to make profit or increase one's income.[

You're a funny dude, so what you're trying to tell us is that the only reason why people invest in Bitcoin is profit? And you think you're very right with such statement, I'm not disputing the fact that there investor shows major reason for investing in Bitcoin is profit which you're one of them and trader you are, however, you should be are that there are invetsors that are in for the value not actually what you said here, when I read through your text immediately I come across selling and profit, I just concluded that you're a trader, but that's your business but don't come here to make people believe that what you just said is the only reason why Bitcoin exist, it is better you speak for yourself not for everyone.

[cxtreenal]

Consistent minor purchases are frequently possible for persons who have previously separated their income after covering all living expenditures, leaving just discretionary funds. Consistent DCA typically necessitates additional support, one alternative being discretionary income. Without it, it will be more difficult for anyone to routinely acquire Bitcoin, even if they want to do it once a week. As a result, everyone should seek to increase their income so that they have enough discretionary income to acquire Bitcoin on a constant basis without regard for price, market conditions, or personal circumstances.

If no one has extra money then there is no need to buy Bitcoin, no one is forcing you and there is no need for everyone to buy Bitcoin or have BTC or accumulate. Because it depends on one's own financial capacity, patience, discipline and will. Another thing is that buying Bitcoin does not require much knowledge, but it is necessary to gain knowledge over time to understand it.

will develop into an experienced investor on the one hand, you can only start investing if you have a financial basis because the beginning is also important

It is certainly important to start.But the saying 'investment can only be started if you have a financial base' sounds like you cannot start investing unless you have a high income,a permanent job or a lot of savings. But the reality is different,where it is not a high income, large savings or a permanent job to invest, but if someone has discretionary income apart from necessary expenses, then they can feel free to start small. Someone's income may be high, but if their expenses are also high, then they may not have investable money. Again,even if someone's income is small, if they can control their expenses and set aside a small discretionary income after necessary expenses, then it is possible to start saving Bitcoin even with that small amount. It is good to have a strong income base,but it is not right to make it a mandatory condition for starting Bitcoin.

It is not mandatory for an individual to invest a huge amount of money, it mainly depends on the individual's income, and their purpose. If possible, you can make your investment spontaneously as long as you have a discretionary income. Bitcoin accumulation is not about being overly competitive with others. The most important thing is to control their expenses, and most importantly, your expectations shouldn't be beyond what you invest, just to avoid some complications. Every investor has to choose one category that will be suitable for them while investing, just for safety and security measures.

Accumulate a comfortable amount of Bitcoin through discretionary income. You can invest in Bitcoin spontaneously if you have discretionary income but consider whether this plan is right for you. For example if you buy Bitcoin with the entire amount of discretionary income you have, you may face a financial crisis due to additional expenses. To continue investing for the long term you need to have cash flow available. Having an emergency fund is important because your target is to accumulate Bitcoin regularly and make it long term. An emergency fund and cash flow are important for long term Bitcoin investments.

[ChocolateBitcoinK]

Consistent minor purchases are frequently possible for persons who have previously separated their income after covering all living expenditures, leaving just discretionary funds. Consistent DCA typically necessitates additional support, one alternative being discretionary income. Without it, it will be more difficult for anyone to routinely acquire Bitcoin, even if they want to do it once a week. As a result, everyone should seek to increase their income so that they have enough discretionary income to acquire Bitcoin on a constant basis without regard for price, market conditions, or personal circumstances.

If no one has extra money then there is no need to buy Bitcoin, no one is forcing you and there is no need for everyone to buy Bitcoin or have BTC or accumulate. Because it depends on one's own financial capacity, patience, discipline and will. Another thing is that buying Bitcoin does not require much knowledge, but it is necessary to gain knowledge over time to understand it.

will develop into an experienced investor on the one hand, you can only start investing if you have a financial basis because the beginning is also important

It is certainly important to start.But the saying 'investment can only be started if you have a financial base' sounds like you cannot start investing unless you have a high income,a permanent job or a lot of savings. But the reality is different,where it is not a high income, large savings or a permanent job to invest, but if someone has discretionary income apart from necessary expenses, then they can feel free to start small. Someone's income may be high, but if their expenses are also high, then they may not have investable money. Again,even if someone's income is small, if they can control their expenses and set aside a small discretionary income after necessary expenses, then it is possible to start saving Bitcoin even with that small amount. It is good to have a strong income base,but it is not right to make it a mandatory condition for starting Bitcoin.

It is not mandatory for an individual to invest a huge amount of money, it mainly depends on the individual's income, and their purpose. If possible, you can make your investment spontaneously as long as you have a discretionary income. Bitcoin accumulation is not about being overly competitive with others. The most important thing is to control their expenses, and most importantly, your expectations shouldn't be beyond what you invest, just to avoid some complications. Every investor has to choose one category that will be suitable for them while investing, just for safety and security measures.

Investment does not only depend on large amount of money, rather only those who can invest consistently, they can make a good investment. It is important to make the right decision by understanding your capabilities, goals and risks, this is how an investment is actually made. Currently, many people see this Bitcoin investment only as a means of getting rich quickly, but long-term consistency is needed here, Bitcoin will not bring us quick success, if someone expects quick success from Bitcoin, then there is a high possibility of getting more negative results. That is why if you expect good success from Bitcoin, then you must think of a long-term safe investment, we must also be careful about its long-term security, so that our investment can be continuous in any situation.

[JayJuanGee]

If you are trying to make money through your investing, you are trading, not investing.

Perhaps if you can figure out ways to earn income and to support yourself from your income, then you don't have to worry about earning money from your investment until later down the road.. perhaps after a couple of cycles of investing into bitcoin.

Sir JJG I disagree with you on this one, no one going into an investment won’t have the intention of making money, everyone that is going into an investment is doing that so he or she can make profit, it could be immediately or in the future but the main goal is to make profit, so saying if someone is trying to make money through his or her investment is a trader is wrong, if you know and you are 100% sure that bitcoin won’t give you profit in the future why did you invest in bitcoin?

Of course, you can do whatever you want, and this particular thread is not about investing, so you can trade if you want and have fun staying poor.

I don't recommend trading bitcoin, yet people still do it.

If you are investing rather than trading, then the presumption is that you would be buying bitcoin and building up your bitcoin stash size for 4-10 years or longer, and so in those cases, it is likely better to be using income from other sources outside of bitcoin in order to build the bitcoin investment and not to be trying to gain income from bitcoin from within the period that you are trying to accumulate bitcoin.

If you are a investor than the better way to ongoingly build you bitcoin is to ongoingly buy bitcoin and to not wrongly presume that it is likely to build/accumulate more bitcoin by selling and buying back cheaper.. that is gambling and not investing.

Sure.  You can disagree all that  you like, and you can trade rather than invest, and some guys proclaim that they are investing, yet they are trading and calling what they are doing as investing, and I am not going to agree with you about that, even though you are free to do whatever you like, even dumb shit that involves gambling with what is otherwise one of the best, if not the best of asset classes that any normal people has been able to have access to.  As long as we have discretionary funds or we are able to generate a sufficient quantity of discretionary funds, then we are able to invest into bitcoin and to build our bitcoin investment size with the passage of time.  Of course, poor people and people with low discretionary funds are going to take longer to build their bitcoin investment, yet if they have a timeline that is 4-10 years or longer, they are likely to put themselves into a better position by getting involved in bitcoin and building up their bitcoin stash as compared if they had not gotten involved in bitcoin as long as they take an investment approach (that includes ongoing buying) rather than fucking around with trading and/or trying to build their bitcoin stash through techniques that include selling rather than sticking with ongoing buying techniques.

And again why did you decide not to invest in shitcoin I believe because you don’t want to waste your money and you know you may not get profit from it.

Similar to other guys, I have concluded that there is no shitcoin that is investment worthy, and surely I am accepting of the idea of potentially buying shitcoins and/or trading and fucking around with shitcoins, so long as they do not compose more than 10% of the size of the bitcoin investment,  yet on a personal level, my various shitcoins have never been more than 2% of the size of my bitcoin holdings, and currently they are likely less than 0.5% of the size of my bitcoin holdings... and they are largely shitcoins that I bought around 9 or 10-ish years ago.. perhaps in 2016/2017.  I am not into shitcoins because I am not into trading or gambling, and there have perhaps been some folks who have gotten involved in shitcoins and still have been able to do o.k. with their "profit" levels, yet likely the guys who have done the best in involving themselves with various shitcoins are those guys who were involved in creating and/or promoting the shitcoins as insiders.. so there is a lot of scamming tending to go on with shitcoins, too.

So when it comes to investment profits will always be in your mind whether you like it or not however that those not mean your total focus should be on profit making your focus should be on building the investment and making it stronger the benefit of your dedication, commitment and hard work will come later.

I guess you are able to get the idea of deferred gratification, even though you are ONLY framing the idea of bitcoin investment in terms of delayed profits, so perhaps you are a little narrow in your thinking if you consider that guys are only manaically focused on profits and your desire to frame all motives in terms of profits.

You think that satoshi was motivated to get involved with bitcoin based on profits?  Do you think satoshi is a one of a kind and no one else has goals similar to satoshi?  if you want to recognize that bitcoin has various attributes that potentially help to make the whole monetary system more responsive and responsible and to fix the incentives in connection with money and the various abuses of money creation, then are you going to consider those as personal monetary goals, too?

Do you consider it could be possible that guys can think and be motivated beyond the idea of mere profits?  of course, guys who might 10x or 20x or 100x the value of their holdings, there may well be profit motives that could be argued, when they merely say that they are allocating, reallocating and/or diversifying their wealth into ways in which they consider the assets will hold their value better with the passage of time, and yeah, of course, you with your narrow thinking are going to still want to consider those motivations as profits.

By the way, if a mid-30s guy with a $30k per year income were to have had started out buying bitcoin 10 years ago or even more than 10 years ago, and maybe if he had already been investing prior to coming into bitcoin, then maybe he put $10k into bitcoin in 2016 and he got around 20 bitcoin and then he bought $100 per week of bitcoin between early 2016 and now, and so he had ended up investing another $54k and accumulated another 15.4 BTC... so his total investment might have ended up being $64k and he had accumulated 35.4 BTC, yet the fact is that he had only an income of $30k per year, so even if he had not realized that he had reached overaccumulation status many years back relative to his own earning capacity... so frequently, a guy can figure out the extent to which he has enough or more than enough bitcoin based on his own earning capacity, and in the case of this particular example, I doubt that the guy is (or has been) contemplating the value of his bitcoin in terms of profits rather than contemplating his bitcoin in terms of how much income that it could generate for him without his having to work a day ever again.  Even a person with excess wealth might have to spend time figuring out ways to account for his money and to safeguard it, or perhaps to hire someone who can help out with those kinds of money management matters... which still might not completely remove necessities to work and/or to oversee to make sure that the money managers are not running off with more money than has been agreed to.

Yeah if you have a very good source of income you won’t be bothered about your investment that those not mean you won’t think about the future profit you may get from it, the main reason why you need a good source of income and a backup funds when investing in bitcoin is so you won’t dip hands into it until you have reached an over accumulation stage.

You seem to be mixing up ideas of what is needed as bare minimums to be able to invest into bitcoin versus what might be a better (and preferable situation).  Anyone who might be investing into bitcoin or considering investing into bitcoin, needs to start from whatever situation they might well happen to be in, so some people have low levels of income (and low levels of discretionary income) and they also might not have stable or steady sources of income, yet they still would be able to ongoingly invest in bitcoin as long as each time that they choose to make a bitcoin purchase, they can determine that they are investing from their discretionary funds.  They can also work with whatever back up funds that they have, or they can continue to build their back up funds, and surely the more erratic a persons income/expenses, then the more likely they have to build and maintain higher levels of back up funds to be able to cover times in which their income might go down and/or their expenses might go up, so there may well also be times in which guys with erratic discretionary funds are changing  how much they can put into bitcoin, and hopefully they have systems in place so that they do not have to tap into their bitcoin at a time that is not completely of their own choosing and perhaps not for 10 years or more after their various investments into bitcoin.

Of course, bitcoin happens to be quite volatile and quite liquid which likely tempts guys to tap into it at a time that was not of their own choosing, including when they get distracted and/or diverted by their perceptions that their bitcoin "are in profits," so some of these guys with lack of investment and/or long term focus may well end up selling too much bitcoin too soon, and perhaps even at the same time perceiving themselves as smarter than everyone else because they are proclaiming to have cashed out "in profits" and surely through bitcoin's history, we have a lot of examples of the various prices that guys cashed out too many bitcoin too soon, and they were never able to come even close to building up their bitcoin stash towards levels of bitcoin that they "used to have" or "could have had" if they had not been too focused on prematurely scalping out "profits" from the coins that they then held.

I have never really been opposed to guys scalping some profits off their coins along the way, so long as they have considered themselves as having had accumulated enough coins or more than enough coins, and there are various ways of assessing your coin value, and frequently if your skimming off of coins is not too extreme, then over the years bitcoin has tended to forgive guys who made some of those mistakes in regards to how much it had ended up going up in value to still cause the total holdings to still be more valuable than it had been earlier, even though some guys might have had still ended up selling too many coins too soon.

Imagine a guy who might have had accumulated 100 bitcoin or more in the 4 years prior to 2017, and in early 2017, he sold 40% of his bitcoin (which would be 40 BTC) at around $2k per coin, so he ended up getting $80k and he still had 60 BTC, so when the BTC price shot up to $19,666 by the end of 2017, his remaining 60 BTC would have had been worth nearly $1.2 million, and perhaps he would have had regretted selling that many coins in early 2017, even though he got $80k value (and perhaps a considerable amount of "profits") out of them, and even when the BTC price ended up correcting back down to $4k and below in late 2018, he was never really able to buy back the coins that he had sold at around $2k for less than his sales price, even though his overall bitcoin value was still $240k when the BTC price was near its then bottom in late 2018 and even in the March 2020 dip, the BTC prices would have had gone up to $13,880 in June of 2019 causing his 60 BTC holdings to be valued at $830k, and then correcting back down to $4k in March of 2020 for a short period of time causing his total 60 BTC holdings to be valued at $240k before the BTC prices resumed upwards and never really came back down below $20k, except during a period of around June 2022 to a flash crash in March 2023).  

We realize that after March 2023, the BTC prices had mainly stayed above $25k after that time, so that if the guy kept hanging onto his 60 BTC throughout all of these price moves, then they would have had a spot price value of at least $1.5 million for the remainder of the time after March 2023, yet at the same time, I get way more excited to monitor the 200-WMA value of my own BTC holdings, and a 60 BTC stash size would currently have a 200-WMA value of nearly $3.7 million, which from my perspective allows an ability to annually withdraw $370k in a sustainable way with a 7% increase in the dollar amount each year forever and ever and ever,  and I am not even sure if there would be much if any needs to try to figure out the extent to which the bitcoin is "profitable" or not, since they are largely at a large enough size that they might either become the sole income source or a source of income that supplements other income sources, whether the bitcoin holder chooses to continue to work (and earn other income) or not.

Sure, perhaps you want to continue to argue that these various considerations are that each of us is motivated by "profits," and I would proclaim that you are too narrowly focused, even if profits do underly the framing of expectations that are not guaranteed, yet there is still a lot more going on rather than figuring out the extent to which the holdings are in profits or not, and I suppose over longer periods of time, such as 4-10 years or longer, there is a bit of a presumption that the bitcoin holdings will be "in profits" after those kinds of periods of time even though the matter of profits is not guaranteed, based on various bitcoin attributes and fundamental characteristics, such as scarcity and the ongoing growth of network effects (as outlined by Trace Mayer), there is a bit of a presumption that the slope of bitcoin's price curve is going to be ongoingly sloping upward.

[edited out]

Why does an investor invest? Of course, they invest with the intention of making a profit. So having a profit expectation is not a bad thing. Rather, if there is no expectation of profit or future benefit, why would people invest? An investor puts his discretionary income in Bitcoin because he believes that in the long-term, Bitcoin can preserve value better than fiat money, cash savings or many traditional assets. But the problem starts when profit expectation becomes the main objective of the investment plan. Then the investor starts looking for short-term results. Then he no longer stays in the accumulation mindset, but starts moving to the trading mentality. He starts thinking about buying and selling in the short-term. This is where many investors get stuck in price guessing and trading games instead of building their Bitcoin stash. You can want profit, but you should not ruin your strategy for profit. In the case of Bitcoin investment, it is better to emphasize regular accumulation first. So plan to hold for 4-10 years or more according to your age, physical condition, and financial stability, and manage your cashflow and backup fund in such a way that you do not have to force sell in the event of a short-term price drop. An investor's mentality should not be diverted towards a trading mindset, so these things should be taken into mind.
First, the investment money should come from discretionary income. Rent, food, family responsibility, debt repayment  if you buy Bitcoin with money from all these, the investor will not be able to remain calm. If the price drops, he will panic, because he will know that he needed that money.

Secondly , it is necessary to have a backup fund. If you put all the extra money into Bitcoin just because Bitcoin is bullish, you may have to sell your coins later if a real-life problem arises. Emergency fund plays a very big role in long-term Bitcoin accumulation. Because no one knows when an emergency will happen in anyone's life. Therefore, a backup fund of 3 to 6 months should be kept.

Regarding your second point, it may well be problematic to believe that there is value in keeping up to 6 months in cash, unless a person really considers that he is not able to generate income for that kind of a period of time, which seems rare circumstances, as compared with the quantity of time and effort to build up cash to those levels, especially if the cash is not complemented by other investments (assets) such as bitcoin.

Another thing is that there should not be any implication or inference that back up funds need to be established in any kind of significant sizes prior to getting started investing into bitcoin, yet surely there is discretion regarding how much back up funds might be necessary to keep in place based on the newbie bitcoiner's expectations of future income and/or expenses, so surely if there is a lot of uncertainty in regards to future income/expenses, then there may be more needs for greater level of cash to be kept on hand, and I would even concede that the liquidity and volatility of bitcoin may well justify building and maintaining higher levels of back up funds as compared to what the newbie bitcoiner's practices had been prior to getting involved in bitcoin.

In other words, there is quite a bit of value that as soon as a newbie bitcoiner comes to the conclusion that they want to get started investing into bitcoin, they should try to assess how they are able to get started in a fairly soon manner (within their comfort zone) from where they are at rather than presuming that they need to build up their cash reserves prior to getting started investing into bitcoin... The main thing with having back up funds from the start is to make sure that a person is not investing beyond his discretionary funds, and surely if he is starting from a place that is close to zero back up funds, then they has to assess how much to put into bitcoin and how much to put into his back up funds so that he has high confidence that he is not investing beyond his discretionary funds and he has enough cash on hand that he is going to be able to make it to his next pay check without running out of money, and if we think about a guy who might have a steady income, then surely he can build both his bitcoin stack and his back up funds on an ongoing basis and at the same time that his funds are coming available whether that is weekly or on some other timeline in which he is paid and/or his various monthly bills are coming due.

If a guy has a lot of irregularities in his income and/or expenses, he might have more difficulties to sustain regular bitcoin buys unless he builds up some back up funds (to the extent that he does not already have back up funds in place), yet as long as the newbie bitcoiner can determine that he has discretionary funds available there still can be a priority in regards to getting started in buying bitcoin, just to put bitcoin buying systems in place, yet at the same time, there still might be difficulties to ongoingly buy bitcoin every week (or whatever period might be reasonable) if there are ongoing uncertainties about the sufficiency of the level of discretionary funds, and so each person does need to make determinations in regards to the ongoing sufficiency of discretionary funds and probably the guys with irregular income/expenses are going to need to place more emphasis on the building of their back up funds so that they are not getting themselves into situations where they don't have money to cover their expenses, and surely if they are not able to maintain decent sizes of back up funds to provide them assurance that they are not running out of funds to cover their expenses, then they may well not be in a position to have enough discretionary funds to be investing into bitcoin, even if they might have had still given some priority to at least getting started, yet they might not be able to ongoingly continue to buy bitcoin unless they can figure out ways to increase their discretionary funds by increasing their income and/or decreasing their expenses.

That is a backup fund, which is very important for every investor to have when investing. You and I do not know when someone can face serious financial challenges, and in that kind of situation, the backup fund will help settle the problem without affecting your investment. In a position where an investor does not have backup funds, they may be forced to sell their Bitcoin to settle the situation. In order to avoid this, that is why we are always advised to set aside backup funds.

If Bitcoin investment feels undisturbed of course for someone who does it they must have a reserve fund because basically for anyone who wants to make the investment without having a reserve fund it will be very difficult to maintain our assets when there is a very difficult time or situation that occurs when it happens unexpectedly but with a reserve fund of course our assets will be safe and will not be disturbed for the reason that before we start of course far from before we have prepared a reserve fund because we know that we anticipate more quickly what will happen when we are busy accumulating Bitcoin investments whether short-term or long-term so for me it is no longer surprising when someone who makes an investment has prepared a reserve fund because the reserve fund is very important for someone who makes a Bitcoin investment.

I think the best way to say it is; "having another source of income or a side hustle" aside Bitcoin investment for a person who wants to survive as a long term investor, this back up funds can be generated from other source of our income for someone that has another job, there will not be panic during dip, and the main reason having another source of income is good is because there is literally nothing that does not require funds to settle, so to avoid fear and frustration, getting a stable paying job will go long way sustaining an investor.

Having extra sources of income does not substitute for creating, building and maintaining back up funds.... even though surely if there are ways to increase discretionary funds by earning more income then there is nothing wrong with that... when that is a possible way to improve discretionary income matters.. and many of us likely realize that the more funds that we have then the more options that we have, yet we still are likely in a better position when we are attempting to account for how much of our discretionary funds we are using for investing versus savings versus discretionary consumption.

[MissNonFall9]

If a person is in a position where he has the ability to continue investing consistently, then he should start without delay. Starting with small amounts gradually builds investment experience. However, starting is not enough. One should increase knowledge about the basics as soon as one starts. Mistakes can be made in investing, but there is an opportunity to learn from those mistakes. Smart investors learn from mistakes. Investing in small amounts does not cause stress and is not affected by short-term fluctuations, due to which an investor can learn while continuing to invest in small amounts. Therefore, it is only through patience, regular investment and realistic expectations that an investor can be in a good position in the long run.

I am not biased towards investing blindly anywhere, nor is anyone on this forum. Therefore, wise people say that after acquiring basic knowledge of Bitcoin, it is better to start investing in Bitcoin with a person's discretionary income. If someone starts investing in Bitcoin step by step with basic knowledge, then gradually that person will be able to master all the strategies of investing in Bitcoin. Another thing that is most important for investing in Bitcoin is patience for long term investment.

When you said " mastering all strategies of Bitcoin " it look as if the strategy is more than 3, there are only 3 method of investing in Bitcoin which are the buy the Dip, lump suming and the DCA method which is the most preferable method because it help anyone to accumulate regardless of their discretionary income size and if you have the basic knowledge of Bitcoin it means you already know and understood we have 3 types of accumulating Bitcoin so there's no need to master it rather you need to make good use of them at the right time. Remember, you can not lump sum all the time and you can't buy the dip all the time but you can accumulate using the DCA method weekly or monthly depending on how you are able to sort out your discrestionary.

By mastering all the strategies (all three) of investing in Bitcoin, I meant the right time to use them, but I may not have been able to explain it correctly due to the wrong choice of words. However, those who are going to start investing should definitely adopt the DCA method because through it, an investor can invest in Bitcoin in a consistent and orderly manner.
I completely disagree with the statement that all the strategies of investing in Bitcoin mean more than three methods, because I have never read such a thing in the grammar number system.

[sotelorene]

Without making extra income, no one will purchase Bitcoin because the process or system is built for profitable reasons, Bitcoin are not for fancy in the digital marketing or wallets rather for buying and selling to make profit or increase one's income.
The knowledge in which one is needed to acquire before investing in Bitcoin is of extra miles and not just for novices or beginners without mentor will dashed into Bitcoin and begin investing. People without sources of income should be careful in the aspect of Bitcoin because Bitcoin is a game of mindset, one have to cook his mind into the system to reflect one's maturity and understand the purposes and nature of Bitcoin rather it's not just a business of buying buying buying or selling selling selling, it is fully of experiences and strategies.

It is true that people invest in Bitcoin to make profit too but not to trade it that is buy and sell immediately due to market variation no, people purchase Bitcoin to hold for a very long term because over the years we have seen the history of Bitcoin how it has grown to this current price or point so the same people believe that Bitcoin will still do same that is why they are holding it for the long term and yea Bitcoin is not for fancy and I don't think holding Bitcoin for years is fancy.

[JayJuanGee]

Those who are good at money management can often take many effective steps with little money, which brings them relatively good success with little time and effort.

It is true that people who are good at managing finances, even if they have a small income, will certainly have the potential to be successful or successful, but it certainly takes a long time to achieve success because with little capital it usually takes a long time and of course the technique always uses the dca technique and it certainly takes a long time to accumulate btc. so I don't agree if, for example, people who are great at managing money only need a little time to be successful when they have a small income. because currently the price of btc can be said to be very expensive so in reality it takes years to dca because of a small income, they can only accumulate btc little by little, which is certainly different from people who have a large income who of course sometimes don't need a long time to dca.

Whether a person has large discretionary funds or not, it can still take a long time to build up a reasonably decent size of bitcoin holdings, even though you are correct that any person who has lower levels of discretionary funds, and perhaps even anyone who is investing less than 5% of their overall income on bitcoin, it is going to take them a long-ass time to build up their bitcoin holdings, including that they need to maintain some level of back up funds, too.

There are some folks who both have a lot of discretionary funds, and they also might have other investments and/or savings that might allow them to front load into bitcoin at relatively high rates, yet it still is likely that even if they are putting a lot of value in bitcoin in their early years of accumulating bitcoin, they still likely would be better off to plan to continue to ongoingly buy bitcoin for at least a whole cycle...yet at the same time, newbie bitcoiners are free to do whatever they like in terms of how they manage their bitcoin accumulation and making their assessments in regards to how much time they should spend building their bitcoin holdings.

And, at the same time, poor people, even folks who might be figuring out ways to consistently put 10% of their income into bitcoin, they are still going to take 10 years to have had put one year's of their income into bitcoin..and so even if they may well be in a better position by having had invested into bitcoin rather than not, with those kinds of 10% of income levels of bitcoin investment, they still might not be in a position in which they are able to quit their job and live off of their bitcoin.

[edited out]

You can’t really blame them because most newbies don’t really understand Bitcoin yet. Many of them think they must buy one full Bitcoin before they can invest, not knowing they can buy smaller units based on their financial strength. I even thought the same way when I first heard about Bitcoin. My mindset only changed when I started learning and understanding what Bitcoin really is and how it works.
That’s why basic knowledge is important. Once someone understands things like DCA and long term investing, Bitcoin will start to look more realistic.

You are proclaiming that "basic knowledge" is important before getting started buying bitcoin?

That doesn't make sense to me since it seems vague and even presumptuous that newbies do not know anything or they have not skills and/or experiences, which does not seem to be the case, even if by definition newbies to bitcoin are new to bitcoin, yet we should not be presuming that they are new to living.

At the same time, it seems that to start buying bitcoin each of us can figure out what we need to know or don't need to know based on our skills, knowledge and experiences, and as long as we can figure out the extent that we have discretionary funds, we should be able to figure out whether we want to get started investing in bitcoin and to determine our position size based on our own assessment, and surely many of us realize that starting out slow is good, yet starting out should help out any newbie in terms of motivating them in terms of what kinds of things that they might want to know or need to know based on their assessment of their own financial and psychological circumstances, whether they are starting out buying $100 per week, $10 per week or some other amount that they deem is reasonably within their discretionary funds, and also their own accounting for their time and energies to be able to learn about bitcoin, and if they might have a very busy schedule, they may have to figure out the extent to which they might need to dedicate some time to learn about bitcoin, yet they can still get started and determine their starting out amounts based on a preliminary assessment of the availability of their discretionary funds and then perhaps to learn more about the supposed "basics of bitcoin" and/or "basics of cashflow management" with the passage of time and at a pace that they determine to be commensurate with their assessment of their own skills, knowledge and/or experiences.

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The basic knowledge is knowing where to buy, how to buy, what wallet to use and how to secure your wallet seed phrases. Knowing all these you’re good to go, as you keep investing and researching you’ll know more in less than no time.

Newbies do not need to learn about self-custody or which self-custody wallet to use before getting started investing into bitcoin.

You can’t really blame them because most newbies don’t really understand Bitcoin yet. Many of them think they must buy one full Bitcoin before they can invest, not knowing they can buy smaller units based on their financial strength. I even thought the same way when I first heard about Bitcoin. My mindset only changed when I started learning and understanding what Bitcoin really is and how it works.
That’s why basic knowledge is important. Once someone understands things like DCA and long term investing, Bitcoin will start to look more realistic.

You're absolutely right, my friend. Beginners who are completely unfamiliar with Bitcoin will assume it can't be purchased for a small amount. Someone around me who recently learned about Bitcoin asked me about it and said they really wanted to buy it, but then they said they were confused because it was so expensive. But I clarified that and explained that Bitcoin is an investment asset that can be paid in installments, and even with a relatively small amount of money, you can buy Bitcoin.

So, after that, my friend started to feel around and asked me where to buy Bitcoin, and I told him that you can buy Bitcoin on exchanges like Binance. So, with this in mind, I agree that beginners who are completely naive and don't know anything about Bitcoin will certainly find it incredibly expensive when they want to buy Bitcoin. So, this is where it's important to research before saying you can or can't.

Even with your friend, getting started buying bitcoin, if he first starts with an exchange like Binance, will likely end up learning more and more and more about bitcoin, merely from his getting involved and perhaps even reading various information matters on Binance and perhaps developing curiosities about various other aspects of bitcoin, so yeah, it can take time, to really start to learn various particulars, even though sometimes the various exchanges will also be ongoingly misleading their own customers through their promotion of various shitcoins that they sell, and they may also be trying to promote trading too.. so there still can be various ways that each of us still needs to figure out how to not get sucked into various traps that will distract us from focusing on building our bitcoin holdings and also making sure to strengthen our cashflow management systems/practices to the extent that we may well need to improve whatever cashflow management practices that we might already have in place.

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You may be misunderstanding, @JayJuanGee sir wanted to explain that first you should find a source of income. Many people are taking some amount of money and going towards short term investment or short term investment. All their income depends on trading, who explained it to them.

Yes it is true that if a person does not have a source of income and makes short term investments and if he completely depends on his trading then he will never be able to create wealth or increase wealth. We need to first find a source of income and extract discretionary income from that income and then continue to invest continuously and hold it for the long term, when we can do that then we can be able to increase wealth.

it is a pretty rare person who can generate sufficient income from trading in order to be able to both pay for his living expenses and also to be able to have extra discretionary funds to build his investment too.

Surely some traders will try to maintain capital funds that are dedicated to trading and their various trading positions, and even the guys who are more sophisticated, they still might have troubles maintaining side investment funds, such as bitcoin, that they do not necessarily touch, except maybe in the case of bitcoin, there could be a way that a bitcoin side fund could be large enough to generate an ongoing sustainable income that is enough to either completely pay for living expenses or to supplement the paying from living expenses from funds that are coming from other sources (whether working or otherwise). Many times, traders are not so disciplined (or perhaps wealthy?) to be ready, willing and able to completely keep funds to the side that would sustainably be able to support their ongoing expenses.

Accordingly, so many traders, especially newbies, presume abilities of trading accounts to be able to accomplish way more than they are able to accomplish, and surely some very BIG wins could allow the setting aside of funds that could sustainably support such traders if they were to be sufficiently disciplined to be able to completely keep those sustainable living funds separated from their trading capital (funds).

[Agbam]

If you are trying to make money through your investing, you are trading, not investing.

Perhaps if you can figure out ways to earn income and to support yourself from your income, then you don't have to worry about earning money from your investment until later down the road.. perhaps after a couple of cycles of investing into bitcoin.

Sir JJG I disagree with you on this one, no one going into an investment won’t have the intention of making money, everyone that is going into an investment is doing that so he or she can make profit, it could be immediately or in the future but the main goal is to make profit, so saying if someone is trying to make money through his or her investment is a trader is wrong, if you know and you are 100% sure that bitcoin won’t give you profit in the future why did you invest in bitcoin?

Of course, you can do whatever you want, and this particular thread is not about investing, so you can trade if you want and have fun staying poor.

I don't recommend trading bitcoin, yet people still do it.

If you are investing rather than trading, then the presumption is that you would be buying bitcoin and building up your bitcoin stash size for 4-10 years or longer, and so in those cases, it is likely better to be using income from other sources outside of bitcoin in order to build the bitcoin investment and not to be trying to gain income from bitcoin from within the period that you are trying to accumulate bitcoin.

If you are a investor than the better way to ongoingly build you bitcoin is to ongoingly buy bitcoin and to not wrongly presume that it is likely to build/accumulate more bitcoin by selling and buying back cheaper.. that is gambling and not investing.

Sure.  You can disagree all that  you like, and you can trade rather than invest, and some guys proclaim that they are investing, yet they are trading and calling what they are doing as investing, and I am not going to agree with you about that, even though you are free to do whatever you like, even dumb shit that involves gambling with what is otherwise one of the best, if not the best of asset classes that any normal people has been able to have access to.  As long as we have discretionary funds or we are able to generate a sufficient quantity of discretionary funds, then we are able to invest into bitcoin and to build our bitcoin investment size with the passage of time.  Of course, poor people and people with low discretionary funds are going to take longer to build their bitcoin investment, yet if they have a timeline that is 4-10 years or longer, they are likely to put themselves into a better position by getting involved in bitcoin and building up their bitcoin stash as compared if they had not gotten involved in bitcoin as long as they take an investment approach (that includes ongoing buying) rather than fucking around with trading and/or trying to build their bitcoin stash through techniques that include selling rather than sticking with ongoing buying techniques.

And again why did you decide not to invest in shitcoin I believe because you don’t want to waste your money and you know you may not get profit from it.

Similar to other guys, I have concluded that there is no shitcoin that is investment worthy, and surely I am accepting of the idea of potentially buying shitcoins and/or trading and fucking around with shitcoins, so long as they do not compose more than 10% of the size of the bitcoin investment,  yet on a personal level, my various shitcoins have never been more than 2% of the size of my bitcoin holdings, and currently they are likely less than 0.5% of the size of my bitcoin holdings... and they are largely shitcoins that I bought around 9 or 10-ish years ago.. perhaps in 2016/2017.  I am not into shitcoins because I am not into trading or gambling, and there have perhaps been some folks who have gotten involved in shitcoins and still have been able to do o.k. with their "profit" levels, yet likely the guys who have done the best in involving themselves with various shitcoins are those guys who were involved in creating and/or promoting the shitcoins as insiders.. so there is a lot of scamming tending to go on with shitcoins, too.

So when it comes to investment profits will always be in your mind whether you like it or not however that those not mean your total focus should be on profit making your focus should be on building the investment and making it stronger the benefit of your dedication, commitment and hard work will come later.

I guess you are able to get the idea of deferred gratification, even though you are ONLY framing the idea of bitcoin investment in terms of delayed profits, so perhaps you are a little narrow in your thinking if you consider that guys are only manaically focused on profits and your desire to frame all motives in terms of profits.

You think that satoshi was motivated to get involved with bitcoin based on profits?  Do you think satoshi is a one of a kind and no one else has goals similar to satoshi?  if you want to recognize that bitcoin has various attributes that potentially help to make the whole monetary system more responsive and responsible and to fix the incentives in connection with money and the various abuses of money creation, then are you going to consider those as personal monetary goals, too?

Do you consider it could be possible that guys can think and be motivated beyond the idea of mere profits?  of course, guys who might 10x or 20x or 100x the value of their holdings, there may well be profit motives that could be argued, when they merely say that they are allocating, reallocating and/or diversifying their wealth into ways in which they consider the assets will hold their value better with the passage of time, and yeah, of course, you with your narrow thinking are going to still want to consider those motivations as profits.

By the way, if a mid-30s guy with a $30k per year income were to have had started out buying bitcoin 10 years ago or even more than 10 years ago, and maybe if he had already been investing prior to coming into bitcoin, then maybe he put $10k into bitcoin in 2016 and he got around 20 bitcoin and then he bought $100 per week of bitcoin between early 2016 and now, and so he had ended up investing another $54k and accumulated another 15.4 BTC... so his total investment might have ended up being $64k and he had accumulated 35.4 BTC, yet the fact is that he had only an income of $30k per year, so even if he had not realized that he had reached overaccumulation status many years back relative to his own earning capacity... so frequently, a guy can figure out the extent to which he has enough or more than enough bitcoin based on his own earning capacity, and in the case of this particular example, I doubt that the guy is (or has been) contemplating the value of his bitcoin in terms of profits rather than contemplating his bitcoin in terms of how much income that it could generate for him without his having to work a day ever again.  Even a person with excess wealth might have to spend time figuring out ways to account for his money and to safeguard it, or perhaps to hire someone who can help out with those kinds of money management matters... which still might not completely remove necessities to work and/or to oversee to make sure that the money managers are not running off with more money than has been agreed to.

Yeah if you have a very good source of income you won’t be bothered about your investment that those not mean you won’t think about the future profit you may get from it, the main reason why you need a good source of income and a backup funds when investing in bitcoin is so you won’t dip hands into it until you have reached an over accumulation stage.

You seem to be mixing up ideas of what is needed as bare minimums to be able to invest into bitcoin versus what might be a better (and preferable situation).  Anyone who might be investing into bitcoin or considering investing into bitcoin, needs to start from whatever situation they might well happen to be in, so some people have low levels of income (and low levels of discretionary income) and they also might not have stable or steady sources of income, yet they still would be able to ongoingly invest in bitcoin as long as each time that they choose to make a bitcoin purchase, they can determine that they are investing from their discretionary funds.  They can also work with whatever back up funds that they have, or they can continue to build their back up funds, and surely the more erratic a persons income/expenses, then the more likely they have to build and maintain higher levels of back up funds to be able to cover times in which their income might go down and/or their expenses might go up, so there may well also be times in which guys with erratic discretionary funds are changing  how much they can put into bitcoin, and hopefully they have systems in place so that they do not have to tap into their bitcoin at a time that is not completely of their own choosing and perhaps not for 10 years or more after their various investments into bitcoin.

Of course, bitcoin happens to be quite volatile and quite liquid which likely tempts guys to tap into it at a time that was not of their own choosing, including when they get distracted and/or diverted by their perceptions that their bitcoin "are in profits," so some of these guys with lack of investment and/or long term focus may well end up selling too much bitcoin too soon, and perhaps even at the same time perceiving themselves as smarter than everyone else because they are proclaiming to have cashed out "in profits" and surely through bitcoin's history, we have a lot of examples of the various prices that guys cashed out too many bitcoin too soon, and they were never able to come even close to building up their bitcoin stash towards levels of bitcoin that they "used to have" or "could have had" if they had not been too focused on prematurely scalping out "profits" from the coins that they then held.

I have never really been opposed to guys scalping some profits off their coins along the way, so long as they have considered themselves as having had accumulated enough coins or more than enough coins, and there are various ways of assessing your coin value, and frequently if your skimming off of coins is not too extreme, then over the years bitcoin has tended to forgive guys who made some of those mistakes in regards to how much it had ended up going up in value to still cause the total holdings to still be more valuable than it had been earlier, even though some guys might have had still ended up selling too many coins too soon.

Imagine a guy who might have had accumulated 100 bitcoin or more in the 4 years prior to 2017, and in early 2017, he sold 40% of his bitcoin (which would be 40 BTC) at around $2k per coin, so he ended up getting $80k and he still had 60 BTC, so when the BTC price shot up to $19,666 by the end of 2017, his remaining 60 BTC would have had been worth nearly $1.2 million, and perhaps he would have had regretted selling that many coins in early 2017, even though he got $80k value (and perhaps a considerable amount of "profits") out of them, and even when the BTC price ended up correcting back down to $4k and below in late 2018, he was never really able to buy back the coins that he had sold at around $2k for less than his sales price, even though his overall bitcoin value was still $240k when the BTC price was near its then bottom in late 2018 and even in the March 2020 dip, the BTC prices would have had gone up to $13,880 in June of 2019 causing his 60 BTC holdings to be valued at $830k, and then correcting back down to $4k in March of 2020 for a short period of time causing his total 60 BTC holdings to be valued at $240k before the BTC prices resumed upwards and never really came back down below $20k, except during a period of around June 2022 to a flash crash in March 2023).  

We realize that after March 2023, the BTC prices had mainly stayed above $25k after that time, so that if the guy kept hanging onto his 60 BTC throughout all of these price moves, then they would have had a spot price value of at least $1.5 million for the remainder of the time after March 2023, yet at the same time, I get way more excited to monitor the 200-WMA value of my own BTC holdings, and a 60 BTC stash size would currently have a 200-WMA value of nearly $3.7 million, which from my perspective allows an ability to annually withdraw $370k in a sustainable way with a 7% increase in the dollar amount each year forever and ever and ever,  and I am not even sure if there would be much if any needs to try to figure out the extent to which the bitcoin is "profitable" or not, since they are largely at a large enough size that they might either become the sole income source or a source of income that supplements other income sources, whether the bitcoin holder chooses to continue to work (and earn other income) or not.

Sure, perhaps you want to continue to argue that these various considerations are that each of us is motivated by "profits," and I would proclaim that you are too narrowly focused, even if profits do underly the framing of expectations that are not guaranteed, yet there is still a lot more going on rather than figuring out the extent to which the holdings are in profits or not, and I suppose over longer periods of time, such as 4-10 years or longer, there is a bit of a presumption that the bitcoin holdings will be "in profits" after those kinds of periods of time even though the matter of profits is not guaranteed, based on various bitcoin attributes and fundamental characteristics, such as scarcity and the ongoing growth of network effects (as outlined by Trace Mayer), there is a bit of a presumption that the slope of bitcoin's price curve is going to be ongoingly sloping upward.

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Why does an investor invest? Of course, they invest with the intention of making a profit. So having a profit expectation is not a bad thing. Rather, if there is no expectation of profit or future benefit, why would people invest? An investor puts his discretionary income in Bitcoin because he believes that in the long-term, Bitcoin can preserve value better than fiat money, cash savings or many traditional assets. But the problem starts when profit expectation becomes the main objective of the investment plan. Then the investor starts looking for short-term results. Then he no longer stays in the accumulation mindset, but starts moving to the trading mentality. He starts thinking about buying and selling in the short-term. This is where many investors get stuck in price guessing and trading games instead of building their Bitcoin stash. You can want profit, but you should not ruin your strategy for profit. In the case of Bitcoin investment, it is better to emphasize regular accumulation first. So plan to hold for 4-10 years or more according to your age, physical condition, and financial stability, and manage your cashflow and backup fund in such a way that you do not have to force sell in the event of a short-term price drop. An investor's mentality should not be diverted towards a trading mindset, so these things should be taken into mind.
First, the investment money should come from discretionary income. Rent, food, family responsibility, debt repayment  if you buy Bitcoin with money from all these, the investor will not be able to remain calm. If the price drops, he will panic, because he will know that he needed that money.

Secondly , it is necessary to have a backup fund. If you put all the extra money into Bitcoin just because Bitcoin is bullish, you may have to sell your coins later if a real-life problem arises. Emergency fund plays a very big role in long-term Bitcoin accumulation. Because no one knows when an emergency will happen in anyone's life. Therefore, a backup fund of 3 to 6 months should be kept.

Regarding your second point, it may well be problematic to believe that there is value in keeping up to 6 months in cash, unless a person really considers that he is not able to generate income for that kind of a period of time, which seems rare circumstances, as compared with the quantity of time and effort to build up cash to those levels, especially if the cash is not complemented by other investments (assets) such as bitcoin.

Another thing is that there should not be any implication or inference that back up funds need to be established in any kind of significant sizes prior to getting started investing into bitcoin, yet surely there is discretion regarding how much back up funds might be necessary to keep in place based on the newbie bitcoiner's expectations of future income and/or expenses, so surely if there is a lot of uncertainty in regards to future income/expenses, then there may be more needs for greater level of cash to be kept on hand, and I would even concede that the liquidity and volatility of bitcoin may well justify building and maintaining higher levels of back up funds as compared to what the newbie bitcoiner's practices had been prior to getting involved in bitcoin.

In other words, there is quite a bit of value that as soon as a newbie bitcoiner comes to the conclusion that they want to get started investing into bitcoin, they should try to assess how they are able to get started in a fairly soon manner (within their comfort zone) from where they are at rather than presuming that they need to build up their cash reserves prior to getting started investing into bitcoin... The main thing with having back up funds from the start is to make sure that a person is not investing beyond his discretionary funds, and surely if he is starting from a place that is close to zero back up funds, then they has to assess how much to put into bitcoin and how much to put into his back up funds so that he has high confidence that he is not investing beyond his discretionary funds and he has enough cash on hand that he is going to be able to make it to his next pay check without running out of money, and if we think about a guy who might have a steady income, then surely he can build both his bitcoin stack and his back up funds on an ongoing basis and at the same time that his funds are coming available whether that is weekly or on some other timeline in which he is paid and/or his various monthly bills are coming due.

If a guy has a lot of irregularities in his income and/or expenses, he might have more difficulties to sustain regular bitcoin buys unless he builds up some back up funds (to the extent that he does not already have back up funds in place), yet as long as the newbie bitcoiner can determine that he has discretionary funds available there still can be a priority in regards to getting started in buying bitcoin, just to put bitcoin buying systems in place, yet at the same time, there still might be difficulties to ongoingly buy bitcoin every week (or whatever period might be reasonable) if there are ongoing uncertainties about the sufficiency of the level of discretionary funds, and so each person does need to make determinations in regards to the ongoing sufficiency of discretionary funds and probably the guys with irregular income/expenses are going to need to place more emphasis on the building of their back up funds so that they are not getting themselves into situations where they don't have money to cover their expenses, and surely if they are not able to maintain decent sizes of back up funds to provide them assurance that they are not running out of funds to cover their expenses, then they may well not be in a position to have enough discretionary funds to be investing into bitcoin, even if they might have had still given some priority to at least getting started, yet they might not be able to ongoingly continue to buy bitcoin unless they can figure out ways to increase their discretionary funds by increasing their income and/or decreasing their expenses.

That is a backup fund, which is very important for every investor to have when investing. You and I do not know when someone can face serious financial challenges, and in that kind of situation, the backup fund will help settle the problem without affecting your investment. In a position where an investor does not have backup funds, they may be forced to sell their Bitcoin to settle the situation. In order to avoid this, that is why we are always advised to set aside backup funds.

If Bitcoin investment feels undisturbed of course for someone who does it they must have a reserve fund because basically for anyone who wants to make the investment without having a reserve fund it will be very difficult to maintain our assets when there is a very difficult time or situation that occurs when it happens unexpectedly but with a reserve fund of course our assets will be safe and will not be disturbed for the reason that before we start of course far from before we have prepared a reserve fund because we know that we anticipate more quickly what will happen when we are busy accumulating Bitcoin investments whether short-term or long-term so for me it is no longer surprising when someone who makes an investment has prepared a reserve fund because the reserve fund is very important for someone who makes a Bitcoin investment.

I think the best way to say it is; "having another source of income or a side hustle" aside Bitcoin investment for a person who wants to survive as a long term investor, this back up funds can be generated from other source of our income for someone that has another job, there will not be panic during dip, and the main reason having another source of income is good is because there is literally nothing that does not require funds to settle, so to avoid fear and frustration, getting a stable paying job will go long way sustaining an investor.

Having extra sources of income does not substitute for creating, building and maintaining back up funds.... even though surely if there are ways to increase discretionary funds by earning more income then there is nothing wrong with that... when that is a possible way to improve discretionary income matters.. and many of us likely realize that the more funds that we have then the more options that we have, yet we still are likely in a better position when we are attempting to account for how much of our discretionary funds we are using for investing versus savings versus discretionary consumption.

I love the way you take time to explain and break down your points for the understanding of everyone, there are sometimes I think that you’re overstressing the point but i understand that it’s for the benefit of everyone here newbies and OGs alike.
You even go as far as to bring real life experiences and applications when you’re explaining. It might be lengthy but it’s very helpful, I thank you for that.

[virasog]

Without making extra income, no one will purchase Bitcoin because the process or system is built for profitable reasons, Bitcoin are not for fancy in the digital marketing or wallets rather for buying and selling to make profit or increase one's income.[

You're a funny dude, so what you're trying to tell us is that the only reason why people invest in Bitcoin is profit? And you think you're very right with such statement, I'm not disputing the fact that there investor shows major reason for investing in Bitcoin is profit which you're one of them and trader you are, however, you should be are that there are invetsors that are in for the value not actually what you said here, when I read through your text immediately I come across selling and profit, I just concluded that you're a trader, but that's your business but don't come here to make people believe that what you just said is the only reason why Bitcoin exist, it is better you speak for yourself not for everyone.

If you asked about me then I would say that I like profits too but I also like to have bitcoin in my wallet and I love bitcoin. No matter how high the bitcoin price goes,  I will never sell all my bitcoins and keeps stable coins instead I will better prefer to have some bitcoins with me always.

What I want to say here is that everybody involved in bitcoin doesn't interested in only profits, there are many who are invested in the logic behind the bitcoin as it's a hedge against inflation and system where the rich doesn't become rich and everyone have an equal opportunity.

[JayJuanGee]

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There is nothing wrong if someone decides to start investing in bitcoin with a small amount. Most of the whales we are hearing today started accumulating bitcoin with a smaller amount. So it is not a must to start with a huge amount, there are people that may even have a lump sum but may choose to start small. Consistentenecy play a big role in building ones portfolio in bitcoin, if an investor is buying bitcoin consistently even with a smaller amount they can be able to stack a reasonable amount over time.

There might not be any reason for guys who have lump sums to defer their investment into bitcoin with DCA when the funds are already available.  Of course, each guy who has funds that are available to invest into bitcoin has to make these kinds of choices that relate to buying right away versus the two kinds of deferral that they can make based on price and/or based on time... frequently the better answer is to divide the funds up, yet there are trade-offs with any choice, so guys tend to just do what they consider to be the "better of options" even if there is no real way to know how the trade-offs are going to play out.

That’s true starting small doesn’t mean you won’t grow with time , many actually choose to start small while some just had to start small due to not having enough cashflow . Starting small doesn’t mean your earning will be stagnant, with time many tend to scale up , and the reason why some choose to start small is because some folks want to understand what they are going into before going in aggressively.

For sure there is value in accustoming oneself towards adding bitcoin investment into the mix in regards to how they are choosing to use their discretionary funds...and so it can take a bit of time to get used to both the taking money out of what otherwise would be available for other spending and also getting used to any amount of need for setting aside higher levels of back up funds than what otherwise would have had been the practice that was in place prior to getting involved in bitcoin investing.

That’s true starting small doesn’t mean you won’t grow with time , many actually choose to start small while some just had to start small due to not having enough cashflow . Starting small doesn’t mean your earning will be stagnant, with time many tend to scale up , and the reason why some choose to start small is because some folks want to understand what they are going into before going in aggressively.

As basic as this sounds, if you're not ready to start investing even if it requires you to start small, You will never grow to investing with a bigger amount. There's already a saying that if you're not faithful with that which is small that you won't be faithful with that which is big and that's a key truth in getting started in ones investment. To a large extent, it's safer to start small and then increase on your accumulation amount than starting big without a clear plan and then struggling at the end.

There are people that have the resource and proper understanding to start big and still continue growing that way. That's a normal thing for the different class of investors but if you're not in that category and you're trying to get things all perfect before getting started, you will continue to procrastinate and might never invest or grow into becoming a successful investor.

If such person that's waiting to start when they generate bigger discretionary fund can't manage their portfolio when the discretionary income is lesser I wonder how such person would cope with a bigger discretionary funds. Some people don't understand that starting big doesn't mean they'll be successful what matter is that the discretionary fund is available and an investor is determined to hold whatever they put into the portfolio for long-term, someone who started with a small discretionary can increase it as time goes so far the person is determined to hold for long-term.

I am not really opposed to the idea of starting BIG and front loading the bitcoin investment, yet there still is likely some need to be prepared that the BTC price could go up, down or sideways after the point in which a newbie had decided to "go BIG," so then such newbie would be in a better position if he is both psychologically and financially prepared for such possibilities, and especially the down possibility, since we know that sometimes even if we think that bitcoin is stable or we might even presume that it has reached its bottom, there have been many occasions that the bitcoin price ends up making an additional 50% correction after many of us (including supposed bitcoin price experts) have proclaimed the bottom to be in.

So, surely there can be safety in ongoingly investing in increments, yet even a person who might have an ongoing amount of income coming in and a plan to continually buy bitcoin, he also might come to bitcoin and have a decent amount of money that he either has in cash or that he has in other investments that he would like to put into bitcoin, and for example there could be a guy who only hears about or thinks about bitcoin based on his looking into the matter after he had come accross a decent amount of cash (let's say that he sold some property or sold his business), so then he is trying to figure out where he wants to put such funds that he considers to be excess and that he would like to get into some kind of a "working" status, even though at any time, we cannot be sure if the bitcoin price might go up, down or sideways, yet guys still might be motivated to consider various options in regards to their lump sum amount that might involve buying right away versus deferring based on time (DCA) and/or deferring based on price (buying dips that might not come), so the answers to the "how to buy bitcoin" dilemma might not be obvious on the face and not even obvious after extensive studying of bitcoin and/or extensive thinking about the matter.

Bitcoin market is showing indication to fall a little bit, so that it could create an opportunity for those seeking an entry points for bitcoin investment, so I expect that we should be on our game and speculate to know how we could come in by taking advantage of this fall to buy more and hold.

Our lumpsum strategy should still be effective as well as the DCA pattern we are adopting, this current downtrend is an opportunity for us to buy so that we can also be an investor and not that we only constitute those that discuss about bitcoin alone without making the necessary move to invest and hold.

You have been registered on the forum for a week, and you think that there are advantages towards waiting for dips?  You are proclaiming to be an investor and not a trader, so why should you be fucking around trying to strategize around dips rather than just ongoingly buying.

Furthermore, your use of the term "lumpsum" seems to imply that lump summing is something that guys do in accordance with bitcoin price dips, so in that regard, you seem to be convoluting the ideas of lump sum and buying on dips, which are two different approaches that can be combined, but they are not necessarily the same thing, and especially if any guy is proclaiming that opportunity to lump sum comes when there are dips, then the overriding motivation is buying the dip, and the mere fact that you feel that you are using a large amount does not transform what you are doing into lump sum buying.

You might want to think about lump sum as a situation in which you might either unexpectedly receive some extra money that you are able to consider to authorize into bitcoin investing or perhaps situations in which you might decide to free up some extra funds from other investments or savings that you might have to be able to invest that into bitcoin, and the extent that you perceive the bitcoin price to be in a dip or not would not be the primary motive, even though surely whenever anyone has lump sum amounts that are available for them to consider for investing into bitcoin, they are able to consider the extent to which they might buy bitcoin right away with it or to defer their bitcoin buys based on time (DCA) or to defer based on price (buying on dips that may or may not end up happening). There are trade offs in each way of buying that each of us has to consider in light of our own perspective on our 9 individual factors.

[edited out]

I observe comprehension issue here. JJG made it clear in his post but you missed the point. Let me repeat what he said, pay attention to the part I bold in his statement. "If you are TRYING to make money through your investing, you are trading, not investing". Emphasis on the word "trying".

Of course nobody allocates their money on investment without expecting anything in return. But the point here is not whether you want profit (everyone actually want profit) but the difference is when you need the profit. This is what separate traders and investors, the mindset and time horizon. Both are after profit but one needs it now while the other needs it later, not anytime soon.

As an investor, you are not dependent on the profit showing up immediately, you let time and fundamentals do the work, you don't force exits.

I largely agree with everything that you are saying Comeacross, yet I would quibble with ideas about deferred profits in bitcoin being guaranteed merely based on their being deferred, which any of us should know that profits are not guaranteed, even if we are expecting our bitcoin investment timeline to be long rather than short, so we are expecting to at least be able to either continue to invest over short term volatility or to hold through the expected shorter periods of likely bitcoin volatility.

Of course, no one invests in bitcoin or anything else (to the extent that there is anything else worthy of investing into?) with intentions to lose money, and many folks (including investors) understand bitcoin as an asymmetric bet to the upside, so in that regard, the potential for considerable profits exists, while at the same time, there is a possibility of losing up to 100% of the amount that was put into bitcoin, and as long as guys do not leverage or use margin, then the most that they could lose would be 100% of what they had put into bitcoin.

For example, I believe that starting from scratch (even if it is a modest amount) is a critical step. Those who consider it negligent are truly unconcerned about the possibility of investing in Bitcoin. Many people believe that the proper time to invest in Bitcoin has not yet arrived. However, the ideal time to begin any work will not arrive in this brief period of life. As a result, while considering investing in Bitcoin, a person should first evaluate his income (discretionary income) and then make an investment. However, if an investor uses the DCA approach (monthly or weekly) in the beginning, it will be a great step for him.

Why do we need to emphasize those people who are failing/refusing to take action to get started investing in bitcoin?

Sure, we know that only a small number of people are investing in bitcoin and/or getting started investing in bitcoin, yet the fact that the number of people investing in bitcoin and getting started investing in bitcoin is small, I doubt that there is any good reason to emphasize that "many people" are not investing in bitcoin or maybe they are retardedly waiting for dips that might not come... so what? they are in a fantasy and perhaps not even serious about investing in bitcoin, and most of us (if not all of us participating in threads like this) should recognize that the better course of action is to get started rather than waiting for BTC price drops that might not happen.

[edited out]

Best way to secure a smooth investment is knowing how to allocate your earnings , know how to share your earning using percentages, for instance your expenses will take up to 60% of your earning , leaving you with 40% , then you can decide to use 25% of your discretionary income (which is from the 40%), then the remaining 15% can go to emergency funds , depending on the way you want to allocate , but just make sure you balance it well because wrong allocation can affect your investment in a long run.

What about discretionary consumption?  Where does that go?  In your example, are you presuming all consumption to fit within the initial 60% of expenses?  Do you know the difference between basic consumption and discretionary consumption?  Do you think that all discretionary consumption can be or should be cut out? You might need to give greater consideration to the discretionary consumption category and how discretionary consumption differs from basic consumption.

[The Founding Titan]

Consistent minor purchases are frequently possible for persons who have previously separated their income after covering all living expenditures, leaving just discretionary funds. Consistent DCA typically necessitates additional support, one alternative being discretionary income. Without it, it will be more difficult for anyone to routinely acquire Bitcoin, even if they want to do it once a week. As a result, everyone should seek to increase their income so that they have enough discretionary income to acquire Bitcoin on a constant basis without regard for price, market conditions, or personal circumstances.

If no one has extra money then there is no need to buy Bitcoin, no one is forcing you and there is no need for everyone to buy Bitcoin or have BTC or accumulate. Because it depends on one's own financial capacity, patience, discipline and will. Another thing is that buying Bitcoin does not require much knowledge, but it is necessary to gain knowledge over time to understand it.

Everything actually boils down to if you are actually ready to invest on Bitcoin . That’s why as bitcoin investor before getting started with your Bitcoin journey first set your mindset to be ready for any thing and make sure you are determined. With that you will be able to find chances to build up some discretionary income, which you will use in your buying of Bitcoin , because you can’t use money that’s meant for your essential expenses to accumulate, it will only put you in a position that will affect your bitcoin investment.

I do hope that by building up discretionary income you are not talking about not investing with the discretionary income you already have at hand because you seem co think that it's too small for you to start investing with, bitcoin investment is not as expensive as most people seem to sell it out to be, as long as you've figured out your discretionary income then you don't need to over grow it first before you can start investing, that's basically the same as a person who wants to start accumulating bitcoin waiting for a DIP before they can start buying and that approach is wrong for investors.

[elman007]

Consistent minor purchases are frequently possible for persons who have previously separated their income after covering all living expenditures, leaving just discretionary funds. Consistent DCA typically necessitates additional support, one alternative being discretionary income. Without it, it will be more difficult for anyone to routinely acquire Bitcoin, even if they want to do it once a week. As a result, everyone should seek to increase their income so that they have enough discretionary income to acquire Bitcoin on a constant basis without regard for price, market conditions, or personal circumstances.

If no one has extra money then there is no need to buy Bitcoin, no one is forcing you and there is no need for everyone to buy Bitcoin or have BTC or accumulate. Because it depends on one's own financial capacity, patience, discipline and will. Another thing is that buying Bitcoin does not require much knowledge, but it is necessary to gain knowledge over time to understand it.

Everything actually boils down to if you are actually ready to invest on Bitcoin . That’s why as bitcoin investor before getting started with your Bitcoin journey first set your mindset to be ready for any thing and make sure you are determined. With that you will be able to find chances to build up some discretionary income, which you will use in your buying of Bitcoin , because you can’t use money that’s meant for your essential expenses to accumulate, it will only put you in a position that will affect your bitcoin investment.

I do hope that by building up discretionary income you are not talking about not investing with the discretionary income you already have at hand because you seem co think that it's too small for you to start investing with, bitcoin investment is not as expensive as most people seem to sell it out to be, as long as you've figured out your discretionary income then you don't need to over grow it first before you can start investing, that's basically the same as a person who wants to start accumulating bitcoin waiting for a DIP before they can start buying and that approach is wrong for investors.

It is absolutely true and realistic that waiting for the price of Bitcoin to fall before investing is not really a good investment. Suppose you want to climb Mount Everest and you will succeed only if you can climb. And for this you will definitely save a certain amount of time that in how many days or months you will conquer Everest. You will continue to move forward according to your decision, no matter what the storms, rains, or storms come, you will only move towards your goal, only then will you be able to reach your goal and conquer Everest. In the case of Bitcoin, the same is true, whatever the market situation is, you just have to buy. Whether the market is going down or up, if you can buy continuously without hoping for a price drop, you will be able to reach your goal in time.

[Comeacross]

[edited out]

I observe comprehension issue here. JJG made it clear in his post but you missed the point. Let me repeat what he said, pay attention to the part I bold in his statement. "If you are TRYING to make money through your investing, you are trading, not investing". Emphasis on the word "trying".

Of course nobody allocates their money on investment without expecting anything in return. But the point here is not whether you want profit (everyone actually want profit) but the difference is when you need the profit. This is what separate traders and investors, the mindset and time horizon. Both are after profit but one needs it now while the other needs it later, not anytime soon.

As an investor, you are not dependent on the profit showing up immediately, you let time and fundamentals do the work, you don't force exits.

I largely agree with everything that you are saying Comeacross, yet I would quibble with ideas about deferred profits in bitcoin being guaranteed merely based on their being deferred, which any of us should know that profits are not guaranteed, even if we are expecting our bitcoin investment timeline to be long rather than short, so we are expecting to at least be able to either continue to invest over short term volatility or to hold through the expected shorter periods of likely bitcoin volatility.

Of course, no one invests in bitcoin or anything else (to the extent that there is anything else worthy of investing into?) with intentions to lose money, and many folks (including investors) understand bitcoin as an asymmetric bet to the upside, so in that regard, the potential for considerable profits exists, while at the same time, there is a possibility of losing up to 100% of the amount that was put into bitcoin, and as long as guys do not leverage or use margin, then the most that they could lose would be 100% of what they had put into bitcoin.

I think we are saying the same thing from different angle. Let me clarify my point.

I am not claiming deferred profit are guaranteed. What I mean is that a longer horizon is a way to avoid being forced out of the position at the worst time. Reasom why I mentioned time horizon and mindset, not time horizon as a magic formula.

Trader mindset is to react to short term price moves that creates pressure to exit prematurely. Investor mindset allows you to tolerate volatility and avoid panic selling. It does not guarantee profit but it removes the pressure to sell at the worst time at least.

On the asymmetric part, you are right. The upside is not capped but the downside is 100% if Bitcoin goes to zero (just assuming).

If you allocate only capital you can afford to lose into BTC investment, you're likely to hold through the volatility without compromising your financial stability.

[JayJuanGee]

Best way to secure a smooth investment is knowing how to allocate your earnings , know how to share your earning using percentages, for instance your expenses will take up to 60% of your earning , leaving you with 40% , then you can decide to use 25% of your discretionary income (which is from the 40%), then the remaining 15% can go to emergency funds , depending on the way you want to allocate , but just make sure you balance it well because wrong allocation can affect your investment in a long run.

I do not allocate any money in advance to cover expenses. Rather, I continue to spend 100% of my monthly salary on necessary expenses and that continues until I receive the next month's salary. When I get the new month's salary, I calculate the old month, what percentage of the total salary was spent and what percentage was allocated for prudential money.

What the fuck is "prudential money?" That sounds like a vague, dumbass and misleading descriptor, since it does not say anything.  Why can't you use normal language and describe your extra money in terms of how it fits with discretionary money or disposable money?  If you are trying to suggest that prudential money is the same, then you might be lost, since prudent is too vague of a term in order to describe a money category in the context of bitcoin investing.

I consider the prudential money as 100% fund and invest up to 50%-60% over time and include 30% in the backup fund and keep the remaining 10%-20% for recreational activities.

Those numbers sound like they might be o.k. if you are talking about prudential money and discretionary money as if they were the same thing.  Yet, why the fuck you using such a dumbass, vague and misleading word rather than calling it discretionary money like everyone else does?

In this way, I basically allocate prudent money for investment without any complicated calculations. The expenses are very volatile, due to the volatility of inflation and the volatility of commodity prices, the pre-allocation of money (monthly salary money) seems a bit complicated for me, so I distribute the money differently which gives me more benefits.

Even though you seem to be wanting to proclaim yourself as having a unique system, I doubt that your system is any more unique or even less complicated as compared with someone who might happen to consider their discretionary money to be whatever money is remaining after they had already allocated towards their expenses.  Even if guys have variance in their income and expenses, for many folks, there still tends to be enough regularity that they can ballparkedly figure out how much they might be able to invest into bitcoin every month and even be able to potentially allocate weekly minimum amounts, even if there might be variance in the total amount of discretionary funds that might be available from month to month or week to week.

Of course, the longer that any of us is investing into bitcoin and also strengthening our cashflow management (and our back up funds) then the more likely that we will develop cash cushions that help to allow us to buy bitcoin every single week, even if we might have variation on our weekly/monthly income/expenses...

time is money,

Time is money is a dumb expression in the context of investing (and even bitcoin investing).

Of course, many of us recognize and appreciate that the earlier we get into investing into bitcoin, then the better we are because we can at least get accustomed to buying bitcoin on a regular and consistent basis and also get used to building and maintaining cashflow management practices/systems to the extent that we might not have had been engaged in such conduct prior to getting started investing in bitcoin.

There surely can be times in which bitcoin price movements might cause us to both hesitate in terms of our ongoing buying of bitcoin, or even contribute towards our wishing that we had started buying bitcoin at a later time than we had started, yet at the same time, we cannot ever really know if the bitcoin price is going to go up, down or sideways, especially the newer that we might be to bitcoin, and we may well still be advantaged to get started investing into bitcoin, even if we had ended up starting out buying bitcoin and then the price dropped after we had already invested a decent amount of money into it (such as a lump sum or even front loading our investment into bitcoin).

Sometimes BTC prices can move in either way, and even after several years buying bitcoin, we still might not be "in profits," and furthermore there is no guarantee that our bitcoin investment will end up in profits, even if we had done everything in as perfect of a way that we had considered to be good and/or safe investment and/or cashflow management practices.

If a person is in a position where he has the ability to continue investing consistently, then he should start without delay. Starting with small amounts gradually builds investment experience. However, starting is not enough. One should increase knowledge about the basics as soon as one starts. Mistakes can be made in investing, but there is an opportunity to learn from those mistakes. Smart investors learn from mistakes. Investing in small amounts does not cause stress and is not affected by short-term fluctuations, due to which an investor can learn while continuing to invest in small amounts. Therefore, it is only through patience, regular investment and realistic expectations that an investor can be in a good position in the long run.

I am not biased towards investing blindly anywhere, nor is anyone on this forum. Therefore, wise people say that after acquiring basic knowledge of Bitcoin, it is better to start investing in Bitcoin with a person's discretionary income. If someone starts investing in Bitcoin step by step with basic knowledge, then gradually that person will be able to master all the strategies of investing in Bitcoin. Another thing that is most important for investing in Bitcoin is patience for long term investment.

There may be a certain level of blindness that exists for the beginner investors into bitcoin, since all that they need to get started investing into bitcoin is discretionary fund and common sense, so common sense does not suggest that they need to know anything at all, except maybe how to make sure that they are accurately calculating that they actually have discretionary funds, and sure common sense might also suggest that the newbie bitcoiner should at least start reasonably slow, yet he does not really need to know much more about bitcoin than that, so in some sense there is some level of arguable blindness that may well be present in the beginning of the investment into bitcoin and perhaps even misunderstandings about various aspects of bitcoin, cashflow management and even various expectations that they might have in regards to how their bitcoin investment is going to proceed.. yet they are still seemingly within reasonable grounds to get started and to learn more later down the road, including that some normie newbies to bitcoin might well decide to get started with a certain amount of weekly buys, and then to look further into the bitcoin matter and even their own cashflow management matters at some later date down the road, perhaps even making several weekly bitcoin buys with a certain level of blindness until at some later point that they consider that they are reasonably able to dedicate some time (perhaps an hour or two a week or some other amount of time) to further look into bitcoin and/or to make some assessments of their cashflow management situation as it relates to their newly started bitcoin investment situation.

In other words, there are a decent number of folks who DCA invest into various matters with a certain level of blindness in regards to their knowledge of the underlying assets, including their purchase of index funds or even their choice of certain named assets within their investment portfolio, and so I wouldn't consider that they are acting unreasonable or that the fact that they might be adding bitcoin to their investment items to trigger any higher level of required knowledge and/or preparations before they get the fuck started.

By the way, don't get me wrong.  I consider that it is important to spend time learning about both bitcoin also to give some thought to cashflow management that includes likely specific attention towards the creation and building of cashflow management systems that end up prioritizing the protection of the bitcoin stash that any investor is presumptively building up with the passage of time, and even though there may be situations in which newbie bitcoiners might not be able to dedicate time and energy towards looking into bitcoin and/or making sure to overview and/or strengthen their cashflow management practices, I would also consider that the larger their bitcoin stash becomes, the more incentivized they should become in order to make sure that they are protecting their bitcoin from any situations in which they might end up having to sell some or all of it at a time that is not of their own choosing.

[cyberninja2]

...

It is true that people invest in Bitcoin to make profit too but not to trade it that is buy and sell immediately due to market variation no, people purchase Bitcoin to hold for a very long term because over the years we have seen the history of Bitcoin how it has grown to this current price or point so the same people believe that Bitcoin will still do same that is why they are holding it for the long term and yea Bitcoin is not for fancy and I don't think holding Bitcoin for years is fancy.

What someone wants in investing is only in a long-term way because greater profits will be generated by someone who does it in a long-term way because this does not mean that they cannot do it in a short term but there is greater hope in reaping profits by making long-term investments therefore currently many are doing long-term which means someone who sometimes has a fairly healthy income so that they are very suitable to do it in a long-term way in starting Bitcoin investment, so further knowledge is needed when we will make a decision in determining the direction we hold for a decade this is because the growth will be so rapid if someone dares to do it in such a way because it is very rare for some parties to be able to do it except for those Bitcoin investors in applying it to time which may be one of the most needed things in making Bitcoin investments.

[Tongley]

...

It is true that people invest in Bitcoin to make profit too but not to trade it that is buy and sell immediately due to market variation no, people purchase Bitcoin to hold for a very long term because over the years we have seen the history of Bitcoin how it has grown to this current price or point so the same people believe that Bitcoin will still do same that is why they are holding it for the long term and yea Bitcoin is not for fancy and I don't think holding Bitcoin for years is fancy.

What someone wants in investing is only in a long-term way because greater profits will be generated by someone who does it in a long-term way because this does not mean that they cannot do it in a short term but there is greater hope in reaping profits by making long-term investments therefore currently many are doing long-term which means someone who sometimes has a fairly healthy income so that they are very suitable to do it in a long-term way in starting Bitcoin investment, so further knowledge is needed when we will make a decision in determining the direction we hold for a decade this is because the growth will be so rapid if someone dares to do it in such a way because it is very rare for some parties to be able to do it except for those Bitcoin investors in applying it to time which may be one of the most needed things in making Bitcoin investments.

If the income is quite good, it is not at all correct that you are suitable for investment. Because to invest we need a source of discretionary income, no matter how good the source of income is, if someone is not able to find discretionary income, then if he invests, then he is a gambler in the name of investment. There are some guys whose income is less or very unstable, but they have enough reasonable judgment to find discretionary income. They find discretionary income through proper financial management and continue to invest continuously.

Again, there are many who have a lot of income but they cannot manage their financial situation properly and fail to find a source of discretionary income. So if they have a good source of income, they are suitable for investment, this is completely wrong

[Solokan]

Without making extra income, no one will purchase Bitcoin because the process or system is built for profitable reasons, Bitcoin are not for fancy in the digital marketing or wallets rather for buying and selling to make profit or increase one's income.
The knowledge in which one is needed to acquire before investing in Bitcoin is of extra miles and not just for novices or beginners without mentor will dashed into Bitcoin and begin investing. People without sources of income should be careful in the aspect of Bitcoin because Bitcoin is a game of mindset, one have to cook his mind into the system to reflect one's maturity and understand the purposes and nature of Bitcoin rather it's not just a business of buying buying buying or selling selling selling, it is fully of experiences and strategies.

It is true that people invest in Bitcoin to make profit too but not to trade it that is buy and sell immediately due to market variation no, people purchase Bitcoin to hold for a very long term because over the years we have seen the history of Bitcoin how it has grown to this current price or point so the same people believe that Bitcoin will still do same that is why they are holding it for the long term and yea Bitcoin is not for fancy and I don't think holding Bitcoin for years is fancy.

In my opinion, holding BTC for the long term, for years, is not a luxury. However, I certainly think those who can hold BTC for years are extraordinary. Not everyone can do it, as most are always tempted to sell, especially when the price rises and there's already a profit from selling.

Yes, investing in BTC is for profit, and that's what's unique about BTC: it always creates new ATHs. Most people invest in BTC because they see that cycle. However, we definitely need to be extra patient. Sometimes holding BTC for the long term isn't easy without that extra patience. So, it certainly requires a lot of hard work because it may seem easy to make big profits in BTC, but many ultimately fail and end up trading.

[LOVER BOY 422]

...

It is true that people invest in Bitcoin to make profit too but not to trade it that is buy and sell immediately due to market variation no, people purchase Bitcoin to hold for a very long term because over the years we have seen the history of Bitcoin how it has grown to this current price or point so the same people believe that Bitcoin will still do same that is why they are holding it for the long term and yea Bitcoin is not for fancy and I don't think holding Bitcoin for years is fancy.

What someone wants in investing is only in a long-term way because greater profits will be generated by someone who does it in a long-term way because this does not mean that they cannot do it in a short term but there is greater hope in reaping profits by making long-term investments therefore currently many are doing long-term which means someone who sometimes has a fairly healthy income so that they are very suitable to do it in a long-term way in starting Bitcoin investment, so further knowledge is needed when we will make a decision in determining the direction we hold for a decade this is because the growth will be so rapid if someone dares to do it in such a way because it is very rare for some parties to be able to do it except for those Bitcoin investors in applying it to time which may be one of the most needed things in making Bitcoin investments.

In as much as Bitcoin investment is concerned profit is not guaranteed, because there are also risk associated which might bring you down in the future, as an investor don't just rely on profits aspect but keep on accumulating more and more Bitcoin, bigginers who will read this will be so much aqueted in the profits aspect , concrete on your investment rather than talking about profile.

[Y3shot]

So many people spend much time waiting for the perfect entry and end up missing opportunities completely, consistency usually move beats trying to predict every market moves long term investment rewards patience and discipline far more than right timing.
Perfect timing is always easy timing but that doesn't mean one will wait till the market dips up while the market is down people can still proceed to to their daily investment.

If you are coming into Bitcoin investment and have timing at the back of your mind, it will do you no good. If you want to invest in Bitcoin, you have to forget about everything that has to do with timing.

As you invest in Bitcoin, there are things you need not to consider, like expectations, predictions, and timing. If these are the reasons for investing in Bitcoin, you will be disappointed, and there won't be a better result. In Bitcoin investment, you only need to focus on the long term because when you are timing when to invest and how long the investment should last, you will start bringing predictions and expectations into the equation.