Buy Buy Buy or Sell Sell Sell?

[MusaPk]

Also, the time is long, and this is the main thing, because even if we talk about the minimum period of DCA, that is, if we talk about only 4 years, then many people do not have the patience to hold it for 4 years, and this issue must first be understood by yourself. That you are actually mentally prepared to hold it for a long time. First of all, you have to be mentally prepared, after that you can start investing with financial preparation. In the case of someone who does not have a long-term plan, DCA will never give him any effective results, but may cause more losses. Therefore, it is not enough to just start DCA, but it is important to prepare yourself mentally along with creating a financial foundation to maintain that plan for years.

First thing is to develop a mindset that Bitcoin is an investment that can give good return over a period of time. Developing that mindset is very important because as you continue investing you will see time when your portfolio is very much down and you can bear that period only if you have positive mindset about Bitcoin. If we see current price of Bitcoin then it has gone down a lot and that is the point where people got panic and start selling their Bitcoins. Apart from discretionary income, another important thing is preparation of strong mind that can withstand price corrections over your tenure of Bitcoin accumulation.  

[alankasman]

It's true, as you said that having a stable income isn't important if you can't determine your discretionary income. However what I need to say is that having a stable income makes investing much easier. Basically everyone who wants to invest only needs money. If we don't have any money to hold on to what will happen?

The success or failure of an investment depends on having something to hold on to. That's why I prefer having a stable income whether weekly or monthly so when we need it we can immediately take action. Determining additional income is indeed necessary but we must have several sources of income as well to be able to determine that income so that if we understand these two things I think it is part of what is needed by anyone who invests because investing must have a temporary handle regarding additional income as part of the bonus that we want because we are someone who thinks about investing with the aim of being able to have assets for our future.

Having a stable income is helpful for any job of a person, but for investing in Bitcoin, just being able to generate discretionary income is sufficient for initial investment. A mental setup is needed to maintain investment continuity. A person should continue investing with whatever is left after completing the necessary expenses depending on their monthly or weekly income. However, the amount of investment will also depend on the discretionary income of a person. It is not a problem if the investment is less or more, but care should be taken to ensure that it is consistent.

This is true because fundamentally when investing the income generated greatly helps us make sustainable investments and avoid delays in our investment journey. Moreover if we have a source of income that exceeds our needs this is certainly a breath of fresh air for those of us who invest as there will be no problems because we always have income every week or month. This is something beginners who sometimes want to invest should understand. Investing doesn't require a lot of money as long as the intention is there and having a little money as initial capital to accumulate is sufficient.

But for those who have quite small finances they must always be consistent in doing it in other words they must maintain it so that with a small amount but consistently in maintaining it so that day by day they will understand more about how to do it in the future so that they can do it with a large amount so I think after they think about a method like that of course they will try again so that they can make a lot of money or more than the needs that can be spent so that they will be more optimal in investing by adding the accumulated amount every time they make the money they earn, which is clear that their minds will be more focused than before.

[Rabata]

It's true, as you said that having a stable income isn't important if you can't determine your discretionary income. However what I need to say is that having a stable income makes investing much easier. Basically everyone who wants to invest only needs money. If we don't have any money to hold on to what will happen?

I understand what you mean very well, but what am trying to say is that having a stable income should not be the yardstick you should be using in order to invest in Bitcoin. Yes it is very important and very helpful, but what is more important is figuring out your discretionary income, which is the money left after all your basic needs have been met, and those without a stable income can also figure it out from their own end to invest with.
 So a stable income is good no doubt, but using it as a criteria before you can invest in Bitcoin and be successful is what I disagree on.

You make discretionary income sound so difficult to figure out, that can mislead the newbies to half when they think of starting their investment. Whats more important is having a stable source of income. Figuring out discretionary income is mere mathematics. If the investor cannot do the calculation himself. He is allowed to ask someone close to him to calculate the discretionary income for him. This can be done in a day. But a stable source of income is difficult to have in a striving country. A lot of persons want to invest but stable income is the problem. Without stable source of income there is no discretionary income.

Why don't people understand that discretionary income, while convenient, is not mandatory for Bitcoin savings. Discretionary income is the money left over after you meet your essential expenses that can be used to save Bitcoin. Discretionary income can actually come from fixed income, irregular income, or contractual income. Even if the income is irregular, if there is some extra money left over after meeting your essential expenses, then that will be considered discretionary income.

For example, if a person on a contractual income gets $1000, then he first needs to see what his basic expenses are until the next income comes. If he needs $600 for rent, food, transport, internet, family expenses and all other necessary expenses, and if he needs to keep at least $150 as an emergency fund/reserve, then he has $250 in hand. This $250 can be his discretionary income. If he wants, he can buy Bitcoin with the entire $250 or he can divide it into $30 weekly and do DCA. Here he does not have a fixed monthly or weekly income. But he does have discretionary income. And discretionary income is needed in the case of investments.

[BumRous00]

Having a stable income is helpful for any job of a person, but for investing in Bitcoin, just being able to generate discretionary income is sufficient for initial investment. A mental setup is needed to maintain investment continuity. A person should continue investing with whatever is left after completing the necessary expenses depending on their monthly or weekly income. However, the amount of investment will also depend on the discretionary income of a person. It is not a problem if the investment is less or more, but care should be taken to ensure that it is consistent.

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

[Charcol]

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 First of all, you have to be mentally prepared, after that you can start investing with financial preparation.

Do you know how much this statement of yours can affect the thinking of beginners?
Beginners may think that they cannot start saving Bitcoin until they are completely mentally/financially ready. However, in reality, a new investor can start with a small amount if they want, if it is their discretionary income. Also, through the accumulation process, mental discipline, patience, cash-flow management and understanding of Bitcoin can be gradually built. Most new investors do not come with a perfect mindset, perfect plan and perfect knowledge at the beginning. Many start with a small amount of discretionary income and then gradually learn those things.

And in my opinion, the big advantage of DCA is that it gives beginners the opportunity to start even though they are not as fully prepared as experienced ones. Beginners can start with $10 or $20 of discretionary income at the beginning. In this way, on the one hand, they can actually start saving. On the other hand, their own discipline, financial and mental preparation can be strengthened.

[johnsaributua]

Having a stable income is helpful for any job of a person, but for investing in Bitcoin, just being able to generate discretionary income is sufficient for initial investment. A mental setup is needed to maintain investment continuity. A person should continue investing with whatever is left after completing the necessary expenses depending on their monthly or weekly income. However, the amount of investment will also depend on the discretionary income of a person. It is not a problem if the investment is less or more, but care should be taken to ensure that it is consistent.

It makes things easier for people especially when investing in Bitcoin. It's natural for everyone to have some money or capital when starting to invest in Bitcoin even if it's not a lot. Having a stable income makes investing in Bitcoin much easier. The amount doesn't matter the important thing is to have a cushion when opportunities arise like now where the decline in market prices presents a golden opportunity for everyone. However without a cash income we might not be able to capitalize on this opportunity because we lack a strong cushion. Therefore in my opinion it's better to have some or more because we can anticipate events like this.

But after I understand your statement that a consistent attitude must also be equipped by those who invest because an activity that is not equipped with consistency I think it will make someone easily fall in doing it and not develop towards the portfolio for the future because it is necessary to increase a portfolio someone must have a pattern with full consistency in doing it towards the goal of someone who generally likes to increase the portfolio and also no one does not want that because someone's goal in investing is only to increase the portfolio for the future that can be enjoyed.

[Barikui1]

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

You are right about all that you said here, beginners investors all needs to understand that without consistency in your accumulation and patience with your bitcoin investment, you are not going anywhere. The stash of Bitcoin in your possession is what's going to determine how profitable and successful you are going to be in the future, so for you to have a huge chunk of it, you must accumulate consistently for years.
 So anyone that thinks that he can get rich quickly by investing in Bitcoin is just ignorant on how Bitcoin works, because your Bitcoin investment success is only possible when you can hold for a very long period of time, even though nothing is 100% guaranteed.

[Marvelockg]

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

You are right about all that you said here, beginners investors all needs to understand that without consistency in your accumulation and patience with your bitcoin investment, you are not going anywhere. The stash of Bitcoin in your possession is what's going to determine how profitable and successful you are going to be in the future, so for you to have a huge chunk of it, you must accumulate consistently for years.

If you're yet to gather as many bitcoin as possible, there are a lot of conversations that might not mean too much to you because you can't really relate to it. For instance, if you're still at the early phase of your bitcoin accumulation, it shouldn't bother you too much that there's a bull whenever there's one because with a small fraction of bitcoin, a bull wouldn't mean so much.

You've got to keep at staying invested in bitcoin and forget anything that relates to sells and that's when your patience level get tested and you then know if You have what it takes to remain invested and to not just remain invested but to also continue to increase on the quantity of bitcoin you're accumulating. As an investor, you're bestowd with the responsibility of ensuring that your asset is growing continuously wether it's in favourable time or not and what will make that possible is when you carry on proper planning.

[Sticky Bomb]

If we see current price of Bitcoin then it has gone down a lot and that is the point where people got panic and start selling their Bitcoins.

People who panic are not long-term investors and do not understand bitcoin. The decline in price presents yet a good buying opportunity to get bitcoin cheaper, it's a good reality that some investors are taking advantage of this dip and bagging more quantities to continue holding. Dips are not time to sell your holdings out of fear, if you do so you are likely going to sell at a loss and you're a trader, the long-term mindset help investors remain committed to holding even accross dips. You can always take advantage of the dip and buy more with your reserve funds, the focus should be on bagging more quantities during a dip and maintaining consistency with your periodic buys so your portfolio grows in a healthy way.

[cyberninja2]

You are right about all that you said here, beginners investors all needs to understand that without consistency in your accumulation and patience with your bitcoin investment, you are not going anywhere. The stash of Bitcoin in your possession is what's going to determine how profitable and successful you are going to be in the future, so for you to have a huge chunk of it, you must accumulate consistently for years.
 So anyone that thinks that he can get rich quickly by investing in Bitcoin is just ignorant on how Bitcoin works, because your Bitcoin investment success is only possible when you can hold for a very long period of time, even though nothing is 100% guaranteed.

This is useless for those beginners who start investing without having enough patience and consistency in doing so so what they need to know is that in investing in Bitcoin not only has a stable income but the two things I mentioned earlier are also the main things because people who have money in doing a lot of accumulation but rarely there is someone who has patience and consistency in holding back from selling the number of BTC that has been collected in the past few years for example when the market price is being hit by a decline like now so if they don't have that they immediately take the decision to sell the number of BTC that already exists even though if they have further knowledge the price decline like now for them is an opportunity to add the number of BTC by buying by accumulating so that there is an increase in the number of BTC that they will have in the future.

[Justinopet]

Having a stable income is helpful for any job of a person, but for investing in Bitcoin, just being able to generate discretionary income is sufficient for initial investment. A mental setup is needed to maintain investment continuity. A person should continue investing with whatever is left after completing the necessary expenses depending on their monthly or weekly income. However, the amount of investment will also depend on the discretionary income of a person. It is not a problem if the investment is less or more, but care should be taken to ensure that it is consistent.

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

Bitcoin investment is not something we should invest with our savings, if we don't want lose in Bitcoin investment we should invest with a spare money, and again, for we to profit in Bitcoin we have invest for long term, most of us that lose in Bitcoin investment nowadays it's because we go into short term investment, whereas people who invest in long term are the people that profit for the investment, but if you invest without patient that is when you will lose, everything about Bitcoin and its investment is for us to know the proper time to invest on it, or we can invest on DCA if we wants to accumulate our Bitcoin.

[Solokan]

It is so true about what you said, one have to be financially prudent. Day to day expenses is key to human survival like money for drugs, food,gas, electricity bill, snacks money for children when going to school, money for notebooks and biro for children etc. one need to save money in case of emergency. Bitcoin is so volatile and dangerous so investing in long term could be dangerous except you have some other investment that gives you daily returns. If you have other investment that gives you daily returns then maybe investing in long term investment will be okay.

In this case, it's undeniable that daily expenses always arise because life requires money. In my opinion, long-term investment in BTC will not disrupt our economy or affect our daily living expenses as long as we can manage our finances properly. It's important to remember that if we use discretionary income, or money we're prepared to lose, to buy BTC, we'll likely not be able to disrupt or sell our BTC for living expenses because we've used discretionary income to buy BTC, and our daily expenses are already allocated.

In my opinion, the reason people fail to invest in BTC long-term is due to a lack of a well-planned investment plan. The reason why they fail to invest in BTC long-term is because they randomly invest money to buy BTC. However, it's undeniable that a daily, weekly, or monthly income is essential. How can we invest if we don't have an income?

[BumRous00]

If we see current price of Bitcoin then it has gone down a lot and that is the point where people got panic and start selling their Bitcoins.

People who panic are not long-term investors and do not understand bitcoin. The decline in price presents yet a good buying opportunity to get bitcoin cheaper, it's a good reality that some investors are taking advantage of this dip and bagging more quantities to continue holding. Dips are not time to sell your holdings out of fear, if you do so you are likely going to sell at a loss and you're a trader, the long-term mindset help investors remain committed to holding even accross dips. You can always take advantage of the dip and buy more with your reserve funds, the focus should be on bagging more quantities during a dip and maintaining consistency with your periodic buys so your portfolio grows in a healthy way.

The current price drop is causing the most panic among new investors. Many investors feel that their investments are at risk due to this sudden market decline, so they are selling their holdings despite the losses. However, experienced investors are seeing this current price drop as a discount. It is important to choose the opportunity during such a price drop, as there is no perfect time for Bitcoin.

[Agbam]

A stable income allows us to invest according to our plans. If our income is not fixed it is very rare to achieve investment success because it is not completely stable and difficult to predict.

I understand your sentiment perfectly well, but I don't think that it's the most important thing because your income might be stable, but if you are unable to figure out your discretionary income, you will still not be able to invest in Bitcoin and be successful at it, because having a stable income doesn't guarantees that you can easily figure out your discretionary income from it.
Which is the main reason I believe that for you to invest in Bitcoin and be successful, figuring out your discretionary income should be a priority, not by having a stable income or not.

Even though having a stable income is not necessary in order to buy bitcoin, I would rather have a stable income rather than not having a stable income. 

Of course, there could be certain kinds of a jobs that guys do that are high paying, and so the high paying jobs can sometimes make up for the jobs that are stable yet pay a lot less... and yeah, in the end the availability of discretionary funds determines both if guys can invest and/or if they can continue to invest, and so if a guy is not sure if he is going to be paid in a week or maybe he won't be paid for up to 2 months, then the guy who is not sure if he is getting paid in the next 2 months, he has to make sure that he accounts for his expenses for the next 2 months before he would be able to conclude if he has any money left over that he could buy bitcoin with that money.

There is a huge advantage to having a stable source of income when compared to having an irregular one. A stable income makes financial planning easier because you can more accurately determine your discretionary funds and decide how much can consistently be allocated toward Bitcoin.

When you don’t know when your next paycheck is coming, sorting out discretionary funds becomes more challenging. Even if you manage your finances well, periods of delayed or reduced income may force you to rely on your backup funds more frequently. As a result, someone with an irregular income may need to maintain a larger emergency fund and could spend more time rebuilding those reserves compared to someone with a stable source of income.

This doesn’t mean they can’t invest in Bitcoin; it simply means they have to be more cautious and flexible with the way they invest.

[BumRous00]

yea  you are absolutely correct, stable source of income should not stop someone from accumulating Bitcoin as long they are able to sort out a discretionary income because  that is the most important tool to kickstart our bitcoin investment. normally, an investor with a stable source of income and is able to sort out his discretionary income will definitely do better than an investor who does not have a stable source of income but this can only be possible if folk with stable source of income has a good knowledge about bitcoin or knows what he is doing.

Saving Bitcoin regularly and making it easy is a source of stable income. If you are aware of its maintenance while investing in Bitcoin, this stable income keeps the investor away from excessive worry or panic to a large extent during sudden price drops in the market. I agree with you that just having income is not enough for you now. In this case, having sufficient knowledge and planning about Bitcoin is essential. Having a clear long-term plan is also beneficial, because the price of Bitcoin is volatile, so short-term planning can lead to losses.

[ZeroVinsonN]

Having a stable income is helpful for any job of a person, but for investing in Bitcoin, just being able to generate discretionary income is sufficient for initial investment. A mental setup is needed to maintain investment continuity. A person should continue investing with whatever is left after completing the necessary expenses depending on their monthly or weekly income. However, the amount of investment will also depend on the discretionary income of a person. It is not a problem if the investment is less or more, but care should be taken to ensure that it is consistent.

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

Even long term can still lead to loss, success in bitcoin investment isn't guaranteed but that shouldn't be what stops a person from investing in bitcoin, it has alot of potential and will most likely still remain one of the best asset a person invest in long into the future and that's the hope for most who are investing now, some ore protecting their wealth from inflation, this is because bitcoin over the years have proven to be a good store of value.

[ruykeri]

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

You are right about all that you said here, beginners investors all needs to understand that without consistency in your accumulation and patience with your bitcoin investment, you are not going anywhere. The stash of Bitcoin in your possession is what's going to determine how profitable and successful you are going to be in the future, so for you to have a huge chunk of it, you must accumulate consistently for years.
 So anyone that thinks that he can get rich quickly by investing in Bitcoin is just ignorant on how Bitcoin works, because your Bitcoin investment success is only possible when you can hold for a very long period of time, even though nothing is 100% guaranteed.

It is true that when investing in Bitcoin, it is necessary to have patience and a long-term investment mindset. And this is how the chances of success in Bitcoin investment increase. But if you think too much about how much profit you will actually make, then beginners may develop an aggressiveness in buying Bitcoin with a large amount from the beginning. Because of this, they may think of investing with money outside their discretionary income. Even if the price drops in the short term of buying more Bitcoin at a lower price, there may be a tendency to buy more Bitcoin with the necessary money at that time which can actually go out their ability to hold for a long time. Even when buying Bitcoin with the necessary money, they can panic sell due to price volatility in the short term. Therefore, it is best to invest in Bitcoin with small amounts within your financial ability, which is most convenient for holding for a long time. And over time, if income increases, more amount in DCA can be done, but over aggressiveness in the beginning can cause losses.

[Emjay24]

For example, if a person on a contractual income gets $1000, then he first needs to see what his basic expenses are until the next income comes. If he needs $600 for rent, food, transport, internet, family expenses and all other necessary expenses, and if he needs to keep at least $150 as an emergency fund/reserve, then he has $250 in hand. This $250 can be his discretionary income. If he wants, he can buy Bitcoin with the entire $250 or he can divide it into $30 weekly and do DCA. Here he does not have a fixed monthly or weekly income. But he does have discretionary income. And discretionary income is needed in the case of investments.

In this case, $350 is his discretionary income, discretionary income is the remaining fund after taking care of your expenses and emergency fund/reserve fund is built from discretionary income. If he puts away $150 for savings, then he also has to consider his discretionary consumption for recreational purposes, so he can put aside $100 for discretionary consumption and put $150 into bitcoin. He doesn't necessarily need to suffocate himself and have no fun because he is investing into bitcoin, planning for recreational activities helps a person unwind, so it is nice we split out discretionary fund into three parts which is investment fund(to buy bitcoin), savings(including emergency and reserve fund) and discretionary consumption(for recreational purposes).

[Bitcoin-Forever]

Also, the time is long, and this is the main thing, because even if we talk about the minimum period of DCA, that is, if we talk about only 4 years, then many people do not have the patience to hold it for 4 years, and this issue must first be understood by yourself. That you are actually mentally prepared to hold it for a long time. First of all, you have to be mentally prepared, after that you can start investing with financial preparation. In the case of someone who does not have a long-term plan, DCA will never give him any effective results, but may cause more losses. Therefore, it is not enough to just start DCA, but it is important to prepare yourself mentally along with creating a financial foundation to maintain that plan for years.

First thing is to develop a mindset that Bitcoin is an investment that can give good return over a period of time. Developing that mindset is very important because as you continue investing you will see time when your portfolio is very much down and you can bear that period only if you have positive mindset about Bitcoin. If we see current price of Bitcoin then it has gone down a lot and that is the point where people got panic and start selling their Bitcoins. Apart from discretionary income, another important thing is preparation of strong mind that can withstand price corrections over your tenure of Bitcoin accumulation.  

Crucial points, interesting facts, some of you are already nailing it at the head and you are really getting it right, bitcoin investment is not something magical that we think could just happened within a blink of an eye, instead, there are procedures and requirements to it.

You can be a good investor if you don't have patience, you may not also get up to what you are required to have if you don't develop more interest in learning about the market strategy and how you could apply it for your profitability, setting aside the fund needed for an investment is important as well as using a crucial strategy that is more inclined towards your own income source for an investment in Bitcoin, this is where many consider buying  the dip and also sell when they are already into profit.

[Crakryptvest]

The most important aspect of investing is consistency and patience. It is effective to continue investing even if it is small amounts according to your ability. Regular savings will result in you seeing your investment grow. Bitcoin price is volatile and has the potential to go up or down, so it is effective to be aware of this risk. Short-term plans can cause you losses.

To some persons there are some amount they are not supposed to invest with so until they have that amount, they don't think it is necessary but that wrong because what is required of us to invest in Bitcoin is our discreationary income and it can be any amount whether small or big so I don't see it as a good decision for anyone to underestimate the power of consistency, for me, I see short term investment in Bitcoin as trading, Bitcoin investment is for a long-term, it is not where people come to pack money, it is a slow and steady movement for us to achieve our goals.