Buy Buy Buy or Sell Sell Sell?

[Crytohillss]

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

Any investment made without knowledge will result in losing your money. Anyone who thinks this way is already making the biggest mistake. People who make money solely through luck will eventually lose everything they own. Those without knowledge take far greater risks than others.

I have friends who invested because others around them did, and some made money through luck. A few sold at the right time and made money; they had beginner's luck. But others lost huge sums of money and continue to lose

That's what I love about DCA too most people lose money chasing the right moment while DCA keeps one in the run without all the guessing work, consistency beats trying to be a market genius every day the time in the market usually beats timing the right market DCA keeps things in control and one from stress.

[Bluedrem]

I’ve always liked DCA.. You do not even need to be checking charts every minute or trying to predict and perfect entry… You just need to keep buying at intervals and keep moving…
The with time, all those small small purchases will start adding up, and before you know it you’ve built a good position without all the stress that comes with chasing tops and bottoms.. For me, that is what makes DCA a solid strategy, especially for people looking at Bitcoin from a long term perspective…

This is one of the advantages of buying in DCA because you don't have to follow the price chart all the time. When you have extra money after meeting your initial needs, you can use some money here at any moment, whether it is at the highest price of Bitcoin in that quarter or the lowest price. In short, if you invest in this way, small purchases are combined and gradually enrich the portfolio, in which case there is no pressure on the cash flow, thus you can invest in Bitcoin without putting pressure on achieving much.
And I don't have a lot of money at once that I would have bought Bitcoin with, so I chose the DCA method to deposit Bitcoin as my future asset.

[LodBtcFast55]

What an investor is required to get started with his bitcoin investment is a discretionary income and a common sense, a common sense will lead you how to follow up with your investment by buying consistently with the dca strategy either every weeks or months and hodl for long, we can learn more about bitcoin while also buying bitcoin any body that wants to learn all before starting won't be able to start because learning doesn't have any end.

I agree with you that it is not important to waste time in learning, if you are investing for long term, then it is important to hold it for 8-9 years or more with patience. While learning, while entering the market or while exiting the market, DCA always protects you from such challenges. So you can use this strategy, it is effective for all classes of people. You should also pay attention to emergency fund for bad times, this will also not let your investment suffer.

[Jewan420]

For me, I assume that there are only few things a beginner should know before getting involved in accumulation. Those few things include but not limited to;

1. A beginner should understand what a Discretionary income is
2. He has to understand the importance of long-term HODLing
3. He should understand the reason for Emergency funds, Backup funds and Reserved funds.
4. He has to understand the investment strategies: DCA, Lump-sum and Buying the Dip
5. Wallet and Wallet security

With this fiver first knowledge, a person can go ahead to invest in bitcoin and learn more in the process.

Although I agree with the first two lines mentioned, I disagree with the next three lines. Basic knowledge is required to start investing in Bitcoin, in that basic knowledge you can understand what discretionary money is and the importance of long-term HODLing. I also think that having basic knowledge is important to start investing. But is it necessary to have deep knowledge about backup funds, investment strategies and wallets to start investing? I think it is not necessary. Rather, it is a waste of time and delay in entering the investment

You can acquire these knowledge even after starting investing, maybe backup funds have no function before starting investing, I do not see a big role for investment strategies and I do not see a big reason to spend time being an expert about wallets in the beginning. You can do these even after starting investing. To start investing, make sure that you have discretionary money and have an idea about Bitcoin.

[BluebloodCXVI]

After figuring out your discretionary income the next thing is to get the right strategies which is DCA, this allow you to gradually accumulate bitcoin by buying it using your discretionary income.

Well DCA is not the only strategy for accumulating bitcoin even though it is a widely recommended strategy for most investors whether they are newbies or oldies because of how simple it is to apply to their investment. I still believe though that folks are allowed to use whatever strategy that they believe will better suit their financial position because DCA is not a one size fits all strategy.

I believe you’re right. Most people actually lose when they always try to anticipate the best time to enter the stock market. With DCA, that issue is eliminated, and making investment decisions becomes a simple process. Rather than attempting to time the market each day, you simply work towards gradually buying more shares. Consistency might lead you to achieve better returns compared to trying to beat the stock market each day.

What is all this your talk about the stock market and shares?, it’s like you seem to be digressing away from the main point we are talking about here and perhaps maybe you didn’t read the OP of the thread and use your own common sense to know that we are discussing about bitcoin on this thread and not about stock market or shares.

[JayJuanGee]

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

What is the "basic knowledge" about bitcoin that newbies need in order to get started?  Do you have a list?  Do you want to second guess the judgment of others who want to get started and tell them that they need to know certain "basic" things first?  Why can't the newbie adjust his own position size in regards to starting out based on his own individual judgement about what to do with his discretionary funds? You presume that the newbie has no life experience, skills and/or knowledge sufficient to get started buying bitcoin merely because he might not know certain things that you consider to be prerequisites to his getting started buying bitcoin?  If you happen to have a list of things that the guy needs to know, then why would he need to know them before getting started rather than learning those items at his own pace and adjusting his buy amounts downwards until he reaches higher levels of knowledge and/or comfort?

[edited out]

As a beginner, this issue of what basic knowledge really is is very crucial for every beginner to get started in their accumulation journey. Bitcoin is a volatile asset and has no pattern. Volatility is the core reason behind most prolonged tactical delays that beginners get involved in while planning to get into bitcoin accumulation. This is why it is very advisable that you teach a beginner the power of long-term HODLing because that's the only reasonable ground to cut down his fears. Most beginners tend to spend more time on the charts seeking to understand the rhythm or pattern of the market volatility. This continues and if care is not taken, more years will be spent on the chart with no true investment.

For me, I assume that there are only few things a beginner should know before getting involved in accumulation. Those few things include but not limited to;
1. A beginner should understand what a Discretionary income is
2. He has to understand the importance of long-term HODLing
3. He should understand the reason for Emergency funds, Backup funds and Reserved funds.
4. He has to understand the investment strategies: DCA, Lump-sum and Buying the Dip
5. Wallet and Wallet security
With this fiver first knowledge, a person can go ahead to invest in bitcoin and learn more in the process.

You have a lot of items in your list of things that you believe a newbie needs to know prior to getting started, and I have trouble understanding why he cannot learn most of those items as he goes and if he feels that he needs to or wants to learn them.  I will agree that he has to make sure that he is buying bitcoin within discretionary funds, which seems to be the 1st item on your list, yet the rest of those it seems that the guy can figure out as he goes and within his own judgement.  Of course, your number 3 is perhaps meant for the guy to make sure that he is not buying bitcoin beyond his discretionary funds, yet if he had already assessed that he has sufficient discretionary funds, I would imagine that any normal person would not use all of his available money to buy bitcoin without having some level of confidence that he has enough money to last him until the next time that he gets paid...so in some sense, being able to assess that sufficient discretionary funds are available to buy bitcoin would also presume that the guy has some sense of the extent to which he has enough money to last him until the next time he gets paid.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment.

I don't think that anyone will ever say that an intending investor do not need basic knowledge to start investing in bitcon, this discussion has continued to be a debate here and I don't think there should be misunderstanding to that, may be I will say it again, it is required of newbies to have basic knowledge to start investing with their discreationary, as a newbie you don't have to learn all in a day, there are many things to learn which van not be done in just one day, so a newbie has to start with his discreationary then as he keeps investing he will learn more things even if he want to learn the technicals it will have to start from somewhere.

What is the basic knowledge that you believe to be necessary in order to start buying bitcoin beyond having the ability to assess the availability of sufficient discretionary funds?

What if a guy is brand new to bitcoin, and he does not know anything about bitcoin, except that his friend told him to get started buying bitcoin, and he told him which exchange to use.

If the guy assesses that he has enough discretionary funds to get started, then what else does he need to know in order to get started?  What is the supposed "basic knowledge" that he needs?  He already determined on his own that his friend's recommendation is enough information for him to get started, so what else does he need to know from your perspective?

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

Whether you are going to start without having the basic knowledge about Bitcoin or you start with the basic knowledge is up to you or the investor, rather it's wrong to say that one does not need a basic knowledge about Bitcoin before getting started because is more like generalizing it that is why I can't largely agree with you. I understand that Sometimes guys can decide to make self assessment to see if they can be able to start without the basic knowledge, and then learn during the process of their accumulation or they would wait until they get the basic knowledge before getting started.

What is the basic knowledge that you presume to be necessary prior to getting started buying bitcoin?

Most beginners feel they can't do without the basic knowledge after self assessment, and if such beginner is forced to get started with their bitcoin investment without some level of knowledge, there's every possibility that they will end up making mistake.

Well?  if a guy thinks that he might make a mistake then either he should not start or maybe he just uses an amount of money that he can afford to lose, whether that is $100 or $10 or some other amount that he is not worried about whether he loses it or not.  Maybe one of the goals in getting started is to go through the process of getting started in order to attempt to become more comfortable with the process in order to maybe make a checklist of things that the guy feels that he needs to learn or that he needs to know more about?

And also , there are folks who are confident about getting started without the basic knowledge  knowing fully well that they will learn during the process, so beginners have the right to decide for themselves on what to do before getting started.

Your post is confusing.  Maybe you are arguing with yourself?  Now you seem to be saying that it is o.k. to get started and to learn along the way and that maybe starting is part of the learning about what needs to be learned from the perspective of the newbie who is first getting started buying bitcoin?

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment.

I don't think that anyone will ever say that an intending investor do not need basic knowledge to start investing in bitcon, this discussion has continued to be a debate here and I don't think there should be misunderstanding to that, may be I will say it again, it is required of newbies to have basic knowledge to start investing with their discreationary, as a newbie you don't have to learn all in a day, there are many things to learn which van not be done in just one day, so a newbie has to start with his discreationary then as he keeps investing he will learn more things even if he want to learn the technicals it will have to start from somewhere.

I agree with you that there is a lot of time to learn, but it is better to buy consistently, so that you can find a specific time where on the one hand you can gradually increase your investment and on the other hand you can learn and gain experience. If you invest in haste without understanding the volatility of the Bitcoin price, you will not be able to do it in the long run, because you will panic. But experience and skill are also needed here.

There might be some guys who will be able to dedicate a certain amount of time to learning about bitcoin and buying bitcoin simultaneously.  Maybe they can spend between 1-3 hours per week learning about bitcoin and cashflow management.  And there might be other guys who can spend more time on bitcoin and even other guys who might not have very much time available that they are going to be able to spend on learning about bitcoin and cashflow management.

It seems likely that guys would use their judgement to determine the amount of bitcoin that they buy weekly (or in other intervals) based in part on how much time they are able to spend learning about it and as their comfort level increases, they may well be able to adjust their weekly (or otherwise) buys upwardly, perhaps?  within their discretion in regards to possible adjustments up or down.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

I think what isn't necessary needed before getting started is deep knowledge about Bitcoin investment but talking about basic knowledge, it is very essential because is like differentiating your right from your left and that is the key basic in the game. And again, another  important thing you must also consider before getting  started is to be able to figure out your discretionary funds then you are already there. Because their is no way things can work out without figuring this out even if you understand everything about bitcoin investment.

Yes ,Before starting Bitcoin investment, you definitely need some basic knowledge. For example, what is the difference between Bitcoin and shitcoin, investment and trading are not the same thing, why self-custody is important, why is it risky to keep all the coins on the exchange, and what does long-term investment really mean. Without such basic concepts, a newbie can easily go astray.

Why can't the newbie get started buying bitcoin at some amount that is comfortable to himself, and then figure out as he goes the extent to which he needs to look into the areas that you mention?  Why does he need to know each of those areas in advance?

But at the same time, not having deep knowledge should not be an obstacle to starting.

O.k. so you see the importance of getting started, yet you still want to distinguish between "basic knowledge" that you listed earlier and "deep knowledge" which is presumptively some other bitcoin related and/or cashflow related matters you consider to be important and may or may not be important to the newbie investor.

Many people spend years thinking about starting after learning everything. Later, they see that the Bitcoin price has gone far, and they are still just discussing. So it is often more practical to start with a small amount with basic concepts. Learning and investing can go together, if the amount is within your ability.

However, you are right about discretionary funds. If you do not understand this, Bitcoin investment does not stand up properly. Even if someone knows a lot about Bitcoin, if he cannot calculate his income, expenses, emergency fund, backup fund and discretionary income properly, then his investment plan will be weak.

You seem to be correct about the need for newbies to figure out if they have sufficient discretionary funds or not so that they can get started, yet it seems a bit much to expect that newbies need to know a lot of details about back up funds and cashflow management in any more extensive degree beyond their abilities to ensure that they have sufficient discretionary funds that will last them until the next time that they expect to be paid. 

Because there is no profit in buying Bitcoin, if later you have to sell it to meet rent, food, bills or emergency expenses. Discretionary income means the extra money that remains after fulfilling basic needs and necessary responsibilities. From that extra money, someone can invest, save some, and keep some for personal spending. Bitcoin investment should be from this part. Buying Bitcoin with needed money is not an investment, but rather creating pressure on your cashflow.

Sure.. it does seem to be basic information for the newbie to be able to get some kind of an assessment that money being spent to buy bitcoin is from discretionary funds that are extra beyond what funds are needed to cover the basic expenses.

Two things are most important to start with. First, basic understanding so that you can stay away from scam, shitcoin, trading mentality or custodial risk.

I agree that these are important, yet do you really think that a guy needs to know these matters before getting started?  Why can't he learn them as he goes?

Second, understanding your cashflow so that you can continue DCA or regular accumulation in reality.

You seem to be mixing up "getting started" and continuing to buy bitcoin.

Deep knowledge will increase gradually, but if cashflow management is wrong, long-term holding will not last. It is better to tell newbies that you do not have to understand everything perfectly and then start, but you should not start completely blindly either. Get basic knowledge, find out your discretionary income, do not ignore emergency fund, then start accumulating Bitcoin regularly even if it is small.

These are all good points, but other than figuring out discretionary funds, the rest do not need to be figured out in order to get started buying bitcoin.

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

Basic knowledge is needed but the thing here is that most people don't fully know what can be considered as basic knowledge and that's why someone people will claim they are just trying to get basic knowledge on what they need to know and then end up going extensively on things to know and don't start investing because to them they are yet to get that basic knowledge so they can't invest yet but basically once a person knows to invest with their discretionary income they can start accumulating bitcoin and get any other knowledge along the way.

What an investor is required to get started with his bitcoin investment is a discretionary income and a common sense, a common sense will lead you how to follow up with your investment by buying consistently with the dca strategy either every weeks or months and hodl for long, we can learn more about bitcoin while also buying bitcoin any body that wants to learn all before starting won't be able to start because learning doesn't have any end.

Personally, I am not sure whether common sense will tell a guy how to invest exactly, even though it might tell him to adjust his starting amount to his comfort level and to try to allocate some time in learning areas that might cause him discomfort and potentially allow him to both continue to invest in bitcoin and perhaps to even increase the amount that he his investing into bitcoin, whether weekly or otherwise.  Common sense might also tell him that he needs to make sure that he has a cash cushion so that he does not end up buying bitcoin beyond his discretionary funds, so the more that he invests into bitcoin, then maybe the more that he has to worry about using money beyond his discretionary funds, so if he has a steady income source and/or steady income, then he may be in a better position to calculate how much he is able to invest into bitcoin whether weekly or otherwise, yet there are likely quite a few guys who might be attracted to ideas of keeping their cash working, so they put more money into bitcoin, and they might not keep enough back up funds, so they likely have to learn from experience (or maybe learn by studying) that there are needs to continue to grow the back up funds along with growing the bitcoin stack size.

Common sense does not necessarily lead everyone to the correct answers, and some guys are likely to make bigger mistakes than others, yet it seems to me that guys who have more cautious personalities, they are going to be more careful in regards to both their bitcoin investment amount and their back up funds, and some guys might take risks, but then find out that they might be putting too much into bitcoin and not keeping enough back up funds...and, yeah, of course, some guys might get lured into wanting to trade rather than invest and/or get lured into shitcoins, and I am not sure how common sense will keep guys out of those problematic areas, even though some guys do seem to learn faster than others, too.

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

Any investment made without knowledge will result in losing your money. Anyone who thinks this way is already making the biggest mistake. People who make money solely through luck will eventually lose everything they own. Those without knowledge take far greater risks than others.

Have you ever met a person without knowledge?  I would think that most people have some knowledge, skills and experiences, and surely guys who have little knowledge, skills and/or experiences, then they likely would need to identify their deficiencies.

What about a guy who is able to identify himself as having a sufficient amount of discretionary funds to be able to invest in bitcoin?  Do you think such a guy does not have knowledge and cannot decide for himself if he wants to get started buying bitcoin and if so whether he wants to buy $100, $10 or some other amount in order to get started?  Do you think that such a guy needs to know other things, first? Do you think such a guy is not capable of deciding for himself?

I have friends who invested because others around them did, and some made money through luck. A few sold at the right time and made money; they had beginner's luck. But others lost huge sums of money and continue to lose

So, you believe that if guys are left to their own devices, then they will just do whatever everyone else is doing, and then they will end up losing money based on their not having their own brain?  Personally, I am going to assume that guys have brains, and I am also going to assume that guys are capable of making decisions for themselves, and surely if guys are investing into bitcoin based on whatever everyone else is doing, then they likely have to continue to learn through the consequences, yet if they choose to engage in blind investing without paying attention, then that sounds more like a trading mentality rather than an investing mentality, so they might have to spend a certain amount of time having fun staying poor and learning from their ways of treating bitcoin.  Guys surely have to take responsibility for their own actions, especially if they might have had gotten started buying bitcoin, then it would seem that they have a motive to learn more about both bitcoin and about strengthening cashflow management practices.

[ASloveapg]

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

Any investment made without knowledge will result in losing your money. Anyone who thinks this way is already making the biggest mistake. People who make money solely through luck will eventually lose everything they own. Those without knowledge take far greater risks than others.

I have friends who invested because others around them did, and some made money through luck. A few sold at the right time and made money; they had beginner's luck. But others lost huge sums of money and continue to lose

That's what I love about DCA too most people lose money chasing the right moment while DCA keeps one in the run without all the guessing work, consistency beats trying to be a market genius every day the time in the market usually beats timing the right market DCA keeps things in control and one from stress.

We can invest continuously through DCA without worrying about market volatility. The main point of DCA strategy is that you will not worry about market volatility at all, you will only focus on investing continuously. DCA is a very effective strategy, against market volatility, as well as a very feasible strategy in the long run, which will give you much better results in the long run compared to all other such strategies. So try to understand DCA, those who can understand this strategy in practice, they can benefit from this strategy in the long run with high probability.

[red4slash]

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

What I can say for things like this is that it is indeed quite good and will be very helpful when we have basic knowledge before starting but if you really want to buy first and do learning to find out about bitcoin after we buy it is not a problem because for me basic knowledge before investing does not have to be a priority but when we have bought bitcoin it is obligatory for us to learn well so that what we did at the beginning did not make us think that it was a mistake especially this relates to the money we have spent on bitcoin.

Buying first and learning afterwards will be a little better than if we try to understand bitcoin by learning continuously but we delay the purchase.  Because what I feel when delaying purchases and focusing on bitcoin theory will only make you always hesitate because the focus is not to buy but to wait for market reactions that make them miss the opportunity to buy.

[sotelorene]

DCA strategy is the best approach or strategy to use when investing in bitcoin, especially when you want to invest in bitcoin for long term, using DCA strategy to invest in bitcoin is very good because you will be more relaxed because theirs no need to be checking the market price always, and you will benefit from every dip since you are already accumulating regularly, I think and believe that the best way to invest in bitcoin for a long term is by using the DCA strategy.

It's undeniable that the DCA strategy is truly effective for investing in Bitcoin. Fundamentally, DCA doesn't create difficulties or confusion; we simply need to make regular purchases according to our plans, and everything will go smoothly. However, to ensure a smooth DCA in Bitcoin, we must also continually strive to maintain a steady income. This is the primary capital for having remaining funds, also known as discretionary funds.

Without a solid income, our Bitcoin investments will likely experience less smooth accumulation. Beyond investment, our lives will undoubtedly be insecure without a solid income. Therefore, as long-term Bitcoin investors, we must strive to maintain a healthy cash flow. This is our lifeblood and the basis for investing in Bitcoin. So don't forget that, because I think this is the most important thing when investing in Bitcoin in the long term.

I’ve always liked DCA.. You do not even need to be checking charts every minute or trying to predict and perfect entry… You just need to keep buying at intervals and keep moving…
The with time, all those small small purchases will start adding up, and before you know it you’ve built a good position without all the stress that comes with chasing tops and bottoms.. For me, that is what makes DCA a solid strategy, especially for people looking at Bitcoin from a long term perspective…

Exactly that is one of the sweetest thing about the DCA method an Investor will be thinking the little they are accumulating is not enough till they will open their wallet and see how far their portfolio have grown. And if you don't want to feel like you are not making process especially if your amount been used in accumulation is very little, don't bother checking it initially because it will look like you are not making process but trust me you are but checking will discourage somehow just what I have noticed.

[MissNonFall9]

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.

Although investing in Bitcoin cannot guarantee 100% success but in the long term, it is much better than saving in a fixed currency. Where a fixed currency is constantly subject to inflation, why should we not choose to invest in Bitcoin? Bitcoin is a promising field that cannot be found anywhere else. So we should invest in Bitcoin. And it can be said that the world is going to become cashless in the future, in that case it is better for us to choose Bitcoin.

[Solokan]

DCA strategy is the best approach or strategy to use when investing in bitcoin, especially when you want to invest in bitcoin for long term, using DCA strategy to invest in bitcoin is very good because you will be more relaxed because theirs no need to be checking the market price always, and you will benefit from every dip since you are already accumulating regularly, I think and believe that the best way to invest in bitcoin for a long term is by using the DCA strategy.

The DCA strategy is indeed a good strategy, and many people use it, including me. It provides a sense of security, as we don't have to wait for the BTC price to drop to buy. We can simply buy consistently and with discipline using discretionary income.

However, I believe any strategy for accumulating BTC is effective. The most important thing, I believe, is how well we can hold our BTC. It's pointless to use the DCA technique if we can't hold BTC for the long term. Many people use DCA but only hold BTC for the short term, which looks like trading.

[NewRevelation]

However, I believe any strategy for accumulating BTC is effective. The most important thing, I believe, is how well we can hold our BTC. It's pointless to use the DCA technique if we can't hold BTC for the long term. Many people use DCA but only hold BTC for the short term, which looks like trading.

We must invest with all carefulness and with the right funds and avoiding over aggressiveness with the wrong funds so that we can be able to Hold our coins for long term. And plus, ensuring the stability of our back up funds, as without it, we may not HODL our coins for long term. To HODL our BTC and also gradually increase our portfolio, we must ensure we carry out a proper income allocation and management while we are investing, added with consistency and discipline, then we keep growing as we go

[alankasman]

The DCA strategy is indeed a good strategy, and many people use it, including me. It provides a sense of security, as we don't have to wait for the BTC price to drop to buy. We can simply buy consistently and with discipline using discretionary income.

However, I believe any strategy for accumulating BTC is effective. The most important thing, I believe, is how well we can hold our BTC. It's pointless to use the DCA technique if we can't hold BTC for the long term. Many people use DCA but only hold BTC for the short term, which looks like trading.

What I need to say is that currently many people when wanting to buy Bitcoin use the DCA strategy. If this strategy doesn't provide comfort they won't use it. Therefore this strategy is currently the most viable and popular strategy that can be used by everyone when buying Bitcoin to become an asset with the amount of BTC they own.

Moreover sometimes someone who makes small or large purchases applies a consistent attitude in making them ultimately aiming to make purchases more effective in accumulating assets even if those assets are in the form of BTC.
This consistent attitude aims to avoid greed and also to maintain the amount of BTC we own so as not to sell when the market price is declining. This is why I said so many are fooled when the price is declining which makes them think negatively about events occurring in the Bitcoin market. With every decline there is always an increase. But how to deal with it all depends on ourselves remaining consistent in holding back so as not to sell during a price decline like the current one. Most importantly having a consistent attitude in holding back is one of the extraordinary ways or attitudes for those who have it.

[Hewlet]

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

I have friends who invested because others around them did, and some made money through luck. A few sold at the right time and made money; they had beginner's luck. But others lost huge sums of money and continue to lose

It is not wrong to invest just because others are doing so as a matter of fact, most persons started investing from the motivation they got from others. it is only in the process of investing that they get to become more intentional about what they are doing. you can invest when your peers are doing so though you have to do due diligence in carrying out the needed research that helps you invest in the right thing. it is mainly an issue if what you are buying is some other crypto and not bitcoin and then you should be talking about panic selling but that is not even good for any investor. if you are invested in bitcoin because your friends made you do so, as long as your sell decision isn't because of what your friends are doing and that you are capable of having a mind of your own and staying invested for the long term, then you are good to go.

[Moreno233]

That's what I love about DCA too most people lose money chasing the right moment while DCA keeps one in the run without all the guessing work, consistency beats trying to be a market genius every day the time in the market usually beats timing the right market DCA keeps things in control and one from stress.

I believe you’re right. Most people actually lose when they always try to anticipate the best time to enter the stock market. With DCA, that issue is eliminated, and making investment decisions becomes a simple process. Rather than attempting to time the market each day, you simply work towards gradually buying more shares. Consistency might lead you to achieve better returns compared to trying to beat the stock market each day.

We are discussing how to accumulate Bitcoin here and not how to invest in stocks, so get your information  correctly so you don't misleading people into thinking that investing in Bitcoin is the same thing as buying stocks, they are different things and requires different approach. Don't forget that investing in some stocks is equivalent to investing in shitcoins which are not worth holding, therefore, allowing this discussion to derail to stock investing is just like discussing shitcoins in this thread and that will not help us. The DCA method is a powerful method of accumulating Bitcoin but using it for assets that diminish in value with time is not ideal.

[MainIbem]

We must we with all carefulness and with the right funds and avoiding over aggressiveness with the wrong funds so that we can be able to Hold our coins for long term. And plus, ensuring the stability of our back up funds, as without it, we may not HODL our coins for long term. To HODL our BTC and also gradually increase our portfolio, we must ensure we carry out a proper income allocation and management whole we are investing, added with consistency and disciplined, then we keep growing as we go

Your points are good but at some points you nade several errors that nade it tough to understand, I had to read it over and over then began to understand when I saw words like "back up funds", "consistency", " disciplined" etc. Try to go through your post after writing to note some possible errors that would make it less readable so you don't get people confused and feel you're shit posting. Anyways, allocating the right funds for investing and making sure the back up funds is available is very important for our long-term investment journey, every investor needs to take it seriously.

[Barikui1]

It is not wrong to invest just because others are doing so as a matter of fact, most persons started investing from the motivation they got from others.

If as a Bitcoin investor, the reason you started investing in it is because of what people may say or you are doing it because you friends are doing it, that means that you don't have a mind of your own. You are just like chaff before the wind that will easily sell off his holdings once his or her friends start selling off, without even getting to your over accumulation status.

In other to be a success in Bitcoin investment, you need to be committed in investing by having a mind of your own, by accumulating it consistently, and putting down measures like emergency and reserve funds to protect your bitcoin investment against any emergency situation that may have threatened your Bitcoin investment, not by investing because your friends are doing it, because such person will easily sell off his holdings once his friends start selling off.

[Charcol]

This sounds very funny to my ear  because how will you say that basic knowledge is not mandatory to start Bitcoin investment? Because how will you start something you don't even have the foundation on? Just imagine someone that wants to start building a house without laying foundation first, how do you think the building will stand? Basic knowledge is among the first thing an investor or someone who is willing to invest should have before starting in other words it is necessary and mandatory.

I don't think it is correct to say that one does not need a basic knowledge about bitcoin investment before venturing in it, it is a wrong statement there because for God's sake, how do you intend to understand what you are doing, how they are doing and the essence of doing it before going into d main investment. However with all being said, if you can simply the proceed it will be great to have a practical demonstration of it so the very newbies can benefit immensely and start taking bold decisions like such.

What I can say for things like this is that it is indeed quite good and will be very helpful when we have basic knowledge before starting but if you really want to buy first and do learning to find out about bitcoin after we buy it is not a problem because for me basic knowledge before investing does not have to be a priority but when we have bought bitcoin it is obligatory for us to learn well so that what we did at the beginning did not make us think that it was a mistake especially this relates to the money we have spent on bitcoin.

Buying first and learning afterwards will be a little better than if we try to understand bitcoin by learning continuously but we delay the purchase.  Because what I feel when delaying purchases and focusing on bitcoin theory will only make you always hesitate because the focus is not to buy but to wait for market reactions that make them miss the opportunity to buy.

Yes, you don't need to know much at the beginning of investing. Because even after you start investing, you will have enough time to learn everything. Therefore, running after learning without starting investing is nothing more than a delayed excuse. When you start now and keep trying to learn, your interest in learning will increase even more. Even then, it is possible to learn from real experience. Because after starting, you will see your savings increase during market fluctuations. Again, when the market goes down, you will see your savings decrease. In this way, a kind of confidence will be created within you.

[Bigjoe33]

It is not wrong to invest just because others are doing so as a matter of fact, most persons started investing from the motivation they got from others. it is only in the process of investing that they get to become more intentional about what they are doing.

Investment must be from interest and readiness to invest and not because you saw some of your friends investing and decide to join them. One thing that drives a safe investment journey is interest, and then good investment habits and practices.

We must not jump onto something because people are doing it. Unless for the fact that you have seen it and likes it, then you can ask few questions, do some research and then know how to get started and then, you can go from there. It's best we do some little findings before kick starting rather than get into what you don't know at all with zero knowledge just because friends are doing it

[NewRevelation]

We must we with all carefulness and with the right funds and avoiding over aggressiveness with the wrong funds so that we can be able to Hold our coins for long term. And plus, ensuring the stability of our back up funds, as without it, we may not HODL our coins for long term. To HODL our BTC and also gradually increase our portfolio, we must ensure we carry out a proper income allocation and management whole we are investing, added with consistency and disciplined, then we keep growing as we go

Your points are good but at some points you nade several errors that nade it tough to understand, I had to read it over and over then began to understand when I saw words like "back up funds", "consistency", " disciplined" etc. Try to go through your post after writing to note some possible errors that would make it less readable so you don't get people confused and feel you're shit posting. Anyways, allocating the right funds for investing and making sure the back up funds is available is very important for our long-term investment journey, every investor needs to take it seriously.

Thanks greatly. Words edicted. Really appreciate.