Buy Buy Buy or Sell Sell Sell?

[Mr_Brilliant$]

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.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

[Lida93]

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.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

Some of us knew about bitcoin from either a friend or some articles or stranger online, and today we are doing great with that knowledge of bitcoin. So it's really not about who and where you get the information about bitcoin investment from, you have a responsibility of doing your due diligence by digging deep researching about what you've have now known or heard and, to find the best possible ways to do it right and succeed. There's no hard path neither easy way but it's just about learning and starting to put into practice what you've learned and see if it's working right or not.

[CageMabok]

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Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

You're right, because from the facts and reality I've seen, those who copy or follow others without doing their own research often end up with bad outcomes. Basically, these people lack the foundation of preparation and basic knowledge to understand the risks and their own circumstances before investing in Bitcoin. However, when it comes to seeking references and knowledge, I don't think it's wrong for anyone to try to follow others, as long as they don't adopt the methods and methods used by others without doing their own research. Because whatever the job, our own benchmarks and methods must remain even if the path we take looks the same as other people's.

[johnsaributua]

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

Your statement is very accurate. We always follow the methods or styles of others so we certainly cannot do things according to our own desires. For example if we want to do an activity where we are still seeking further knowledge of life we will always have to follow the method we have found. Therefore I think it is better for us to do it without following the style or pattern of others. Sometimes we cannot fully implement this style or pattern ourselves. We also need time to start with our desires. At that time we need to research what we currently have without following the methods or patterns used by those who were once our place. Knowing the method or understanding it doesn't mean you don't need to follow it but rather we need our own method to see how far we've come in terms of knowledge and understanding without following someone else's pattern or method.

There's no need to blame others or friends as we need them too. However we also need to do some self-research. It's impossible to always follow others' patterns. So it's natural for us to occasionally experiment with our own patterns or methods which might lead to something we've always desired based on our abilities. Clearly conducting self-research is a good step.

[JayJuanGee]

fall victim to scams, send coins to the wrong address, misunderstand what Bitcoin is trying to achieve, or buy simply because others are doing so.

His choosing his amount should help him regarding these matters.
If he initially thinks that there might be some potential scam then he might resist, yet if a friend told him to invest and to use a certain exchange, then he may well have enough information to satisfy himself that he can get started.  It is up to the guy and his common sense, especially if he had already figured out his discretionary funds which is the main basic piece of information that he needs to know in order to get started.

Sure, if he chooses not to start or to spend a day or two to look into the matter or maybe he waits for a week or two, then that is completely up to him.  There is nothing requiring him either way, just like there is nothing requiring that he has to look into the matter further, especially if he has the two most basic pieces of information which is how much extra money does he have available and the source in which he is going to make his first buys as his friend had recommended to him... and, yeah, it is up to the guy whether to accept his friend's recommendation or to look further into the matter prior towards getting started.

That is like saying he should gamble first and then get balanced in bitcoin instead of knowing what he’s doing.

I am not saying that.   If a guy knows that for sure he has $100 per week that he could use to buy bitcoin, yet he chooses to ONLY invest $30 per week for the next 4 weeks until he has a chance to look into the matter, then he is exercising his judgement to reduce the amount that he put into bitcoin since he does not know anything, and then he will reassess at a later date.  He has invested an amount that he is willing to lose, and he has decided to get started rather than fucking around waiting or allocating some time to learn what you believe he needs to learn.  He has already decided based on what he thinks he knows, and he his an adult, so I see no problem with his choice to get started based on his assessment that he has sufficient discretionary funds and he has also used his common sense to make a decision how much he is going to start with and that he figures his timeline is around 3-4 weeks before he can spend further time on the matter of looking at bitcoin and/or looking at any cashflow consideration matters that he might determine to be relevant.

The two basic pieces of information you’re talking about is what I’m considering as basic knowledge which is as important as the money he’ll use to invest.

Of course.  He is investing from his discretionary funds, he is not investing all of it, and he knows that he has at least $70 more per week that he could invest if he were to choose to do it.

If a friend tells me to invest in something because he knows I have the extra cash, no matter how wealthy I am I wouldn’t just throw in that cash without knowing what it is I’m investing into.

Guys can use their common sense whether they trust the friend's judgement or if they might feel that they need to look at the matter further.  Perhaps the guy is relying completely on his friend's judgement, yet at the same time, he is investing an amount that he knows that he has that is extra money.

Let's say for example that the source of the guys money is that in the past 6 months he had been attending some kind of an activity that involved spending $100 per week, yet some circumstances came up in which he was no longer going to be able to attend that activity, so he clearly knows that he has $100 per week that is 100% available, and he is choosing to use $30 of it to buy bitcoin for the next 3-4 weeks until his schedule clears up and he will have more time to spend on looking into bitcoin, his cashflows and/or any other matters that he might consider to be relevant... Maybe he knows that in 3-4 weeks he will have anywhere between 2 hours and 5 hours per week that he will be able to spend looking into bitcoin, but he is not going to have that free time until he finishes with a current project that he is working on until that point in time when he finishes it and the extra time will come available to him.

People shouldn’t invest their money without at least having a basic knowledge of what they’re getting into.

Who are you to say what a person should or should not do?  If the guy already decided to get started, then what more does he need to know?  You think that he needs to know about scams, volatility, private wallets What is Bitcoin? Why he's buying it? How bitcoin works? How to store it safely? What are the risks?

You are being a bit patronizing, no?  Why can't the guy just decide based on whatever he knows or his feelings about the matter?

You’re missing the point, what do you think makes a person decide to start investing?..

In the example I gave, the person started to invest into bitcoin based on a recommendation of a friend and his determination that for the next 3-4 weeks he was going to have an extra $30 per week that he could put into bitcoin until he has a chance to look into the matter further.  The guy is using his own independent judgement in terms of his having had reached all of the qualifications to get started. .money available and his judgement that his friend was pointing him to a good place to get started.

You don't need to presume additional facts.  The guy has the basics from his own perspective, you don't need to substitute your own judgement for his.

Now, if you have concluded that you need more, then that is your own concerns about yourself and perhaps you are exercising your own judgement about what you need, yet merely because you need it does not mean that other guys are going to need what you need or have to follow the list that you made.  Sure maybe in a couple of weeks the guy will look at that kind of list and determine if he needs to know any of those things or not.

What prompts that decision is the level of knowledge of what they’re getting into. I’m not saying they should start gaining all the knowledge of bitcoin but that phase of decision to start investing is determined by basic knowledge, even before sorting out the discretionary funds.

You are adding additional requirements.  Guys can decide for themselves, all they need is to figure out that they have enough money and from there they can decide how much of that available money they want to start with based on their own judgement about how much they want to start with.

Therefore, I would argue that basic knowledge is a requirement as well as the discretionary money.

You seem to be imposing a bunch of random standards that are not necessary, except if the guy has common sense, he can figure it out for himself, and if he sees your list of items, he can figure out if he cares about any of the items on your list or not.

I’m not making a bunch of random standards, and there’s no list.

You already gave a list that was larger than my own list.  All that was on my list was discretionary funds, common sense and a source to start buying.  You had additional items that you said were needed as part of your assessment of prerequisites (that you labeled as "basic knowledge").

Just like you said before every person cannot be the same, what you call common sense is actually

Common sense is a vague and general concept that pertains to guys exercising their own independent judgement and it does not really presume any knowledge except that the guy will figure out if he believes that he knows enough to start or not.. .If he feels uncomfortable, then perhaps he would not start until he figures out a way to become comfortable enough to start. For example if the guy does not know how to add and subtract sufficiently to figure out if he has discretionary funds, then maybe he has to spend some time figuring out how to add and subtract so that he can determine if he has discretionary funds or not.  If the guy looks at the information about the source of getting the bitcoin and he is not comfortable, then maybe he would look into that matter, too.

what drives the basic knowledge I’m talking about. And common sense is not even common.

Sure, common sense is not common and if the guy fucks up then he will have to suffer the consequences.

Basic knowledge can be acquired within a couple of hours,

How do you know how long it takes?  Maybe it takes a couple of hours for you.  The world of people have a variety of experiences, skills, knowledge and even money levels.. and any of those could affect what they know and what they believe that they need to know, including that they could conclude that they know enough and get started based on their assessment of their having a sufficient amount of discretionary funds available.

You’re kind of supporting my argument here, what is that knowledge that you have and you say it’s enough to get started… that is the simple basic knowledge I’m talking about.

I am saying that the guy uses his judgement.  You said that it ONLY takes a few hours. It might take a few hours or it might take several days.  It depends on the guy's decision if he is comfortable enough to start, and he can adjust his starting amount down if he feels less comfortable or he could adjust his starting amount up if he feels more comfortable.

so it is by no means a hindrance to getting started.

You think that guys needing to follow your checklist is not a hinderance?  What if the guy looked at your checklist and he said that he is going to get started anyhow based on his having had already assessed that he has enough money to get started?  If he has to go through your checklist, he may well consider the items on your checklist to be a hinderance because he determined that they are not necessary to know in advance and he can get started and figure them out later, if he believes that they might be important to figure out later.

If anything, it equips a beginner with the confidence and understanding needed to make better investment decisions.

Oh?  you are proclaiming that this is for the beginners own good?  Why can't the beginner use his own independent judgement to decide what is or what is not for his own good?  Maybe he decides getting started is for his own good?  What is wrong with that?  He may or may not lose money, but he may well would have already chose an amount to consider that he may or may not lose it, since he is choosing an amount of money that he can afford to lose.   No he is not trying to lose it, but he is also not emotionally attached to the amount that he decided to start with.  So, why can't he get started?

You sound like you’re dismissing all I’m saying as though they’re not important and again there’s no checklist I’m making, just the common simple things one needs to know before getting started.

Your list is not applicable to everyone.  Each person can decide if your list is important or not by using his common sense and determining if he has discretionary funds in order to get started.  I am not endorsing your list, even though you might want to assure the items on the list, I don't see any reason that those items on your list need to be figured out before starting, and a guy can just adjust his position size down to make sure that he is starting with an amount that he can afford to lose so he is not emotional about the amount that he put into bitcoin based on the level of knowledge that he has, which might be absolutely no knowledge beyond his friend's recommendation in the example that I gave.

I once read from you that what you need to get started is just Basic Knowledge and discretionary money, what happened?..

You were probably reading into what I said, and perhaps I was talking about common sense and you read it as some basic list of items that a guy needs to know.  And, sure, a guy can determine for himself whatever he likes. Maybe the guy looks at the exchange, and then he reads some of the FAQs that are on the exchange, and then after he read the FAQs, he decided that he is going to need to spend 1-2 weeks looking into the FAQs before he gets started, even though his friend had recommended him to get started, he had some piece of information that triggered him to determine to research more until he was comfortable with the answers  to one or two of the questions that had come up in the FAQs that he saw on the exchange.

Let me ask you this question!.. What made you decide to invest in bitcoin?

Initially, in late 2013 when I started, I had been looking for a way to diversify my other investments into something that was like gold, but I did not like gold (even though there had been some index funds that I had initially seen about a month before I started looking into bitcoin), so when I first came accross bitcoin I thought that it was better than the other index funds that I had found, so then I developed a 6 month budget in order to start buying bitcoin, and with my 6 month budget, I divided it into 26 parts so that would be my weekly authorization for how much I was going to put into bitcoin, and I figured that I would get started and that I would try to buy within my budget each week while I continued to study bitcoin.  There was a certain value in just getting started and learning from where to source coins, but then there also was ongoing learning, so I had already been buying bitcoin on a weekly basis for about 3 months when a guy had recommended me to the forum (to the Wall Observer thread). 

You have been registered here for more than 8 months, so perhaps you have been buying bitcoin, yet maybe you feel some value in having had waited rather than getting started, since of course, the BTC price has gone down a lot in the last 8-ish months... but price may or may not be too much of a factor for any guy who might decide to get started buying bitcoin...and he might spend a whole cycle or more just ongoingly buying bitcoin.. .. and perhaps you have different ideas about those matters, too? I would expect the longer a guy is in bitcoin then the more he has had time to learn, even though some guys spend years and years and years in bitcoin and still seem to not know what it is or why they are in bitcoin.

What about you? what are your reasons now versus what were your reasons when you started? and have your reasons changed or your approach?

[ZeroVinsonN]

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 agree, DCA often pays you off. If you have the budget and can repurchase when the price drops, you can make a very good profit. It's a profitable strategy as long as prices don't suddenly skyrocket; what matters is not the price you buy at, but the price you sell at.
That's why investing with low risk can be best sometimes. The profit margin might be a bit lower, but reducing the risk of loss is even more valuable

The dca strategy is not a trading strategy so using the dca strategy is to focus for a long term bitcoin investment selling and repurchase is gambling and an investor who is still buying bitcoin or has not reached his goal shouldn't think of selling to become a no coiner.
The dca strategy is a long time strategy which requires buying bitcoin persistently and consistently either every weeks or every months and hodl for long the only time you can think of selling some portion is when you have gotten to your over accumulation point.

People who buy yo sell later usually do so with the buy the DIP method with the hopes of buying low and selling high, I don't see how the DCA can even fit into that scenario to begin with, this is because people using the DCA but at any given time regardless of the price of bitcoin at that particular time and with a strategy like that they can't even attempt to predict when they price will be good enough for them to sell (of course being able to predict the price of bitcoin is a skill most claim to have but really don't have, they are just guessing) the DCA works best for long term investors, it doesn't accommodate traders.

[samadam007]

I agree, DCA often pays you off. If you have the budget and can repurchase when the price drops, you can make a very good profit. It's a profitable strategy as long as prices don't suddenly skyrocket; what matters is not the price you buy at, but the price you sell at.
That's why investing with low risk can be best sometimes. The profit margin might be a bit lower, but reducing the risk of loss is even more valuable

DCA works better when prices skyrocket after you’ve been buying.... Claiming it only works if prices don't explode is straight up nonsense.
Watching the chart to "repurchase when the price drops" isn't investing....that's active trading. Real long term investing means buying consistently, ignoring the noise and holding solid assets for years, not playing timing games.
Buy price actually matters, and time in the market beats your amateur timing every single time. Risk management is good, but stop mixing up trading tactics with actual investing.

[KeenanEl19]

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 haven’t been a member of this forum for very long, and I’m also relatively new to the world of Bitcoin. Although I’ve already started investing using the DCA strategy, I’d like to know what you mean by “basic knowledge.” Even if I think I have the answers, there might be different perspectives, and that could serve as a valuable lesson for me something I need to prepare for in advance.
 
I chose to invest once I felt ready with disposable income and the knowledge I felt was sufficient to get started and I plan to continue learning as I go while my investments are active. And actually, there are many people here who discuss basic knowledge, but I'm afraid I've misunderstood or made a mistake in determining the points, so I want to know most of the basic knowledge apart from the funds that can be spent.And actually, there are many people here who discuss basic knowledge, but I'm afraid I've misunderstood or made a mistake in determining the points, so I want to know most of the basic knowledge apart from the funds that can be spent.

[Marvelockg]

I agree, DCA often pays you off. If you have the budget and can repurchase when the price drops, you can make a very good profit. It's a profitable strategy as long as prices don't suddenly skyrocket; what matters is not the price you buy at, but the price you sell at.
That's why investing with low risk can be best sometimes. The profit margin might be a bit lower, but reducing the risk of loss is even more valuable

DCA works better when prices skyrocket after you’ve been buying.... Claiming it only works if prices don't explode is straight up nonsense.

Are you sure you understand what you are saying? do you really understand how DCA works especially as it relates to bitcoin price moving either upwards or downwards? if you are using the DCA method for your bitcoin investment, it is not much of a concern wether bitcoin is skyrocketing too fast or that it is relatively stable or that it is going down. because your concern is even on how best to buy, the emphases should be on your DCA amount and that you are consistent in your investment regardless the direction of bitcoin.

while buying bitcoin with the DCA, if the price comes down, it helps you to even buy cheaper and if it skyrocket, you still continue with your routine and on the average, you are still not loosing. if you are too concerned about how fast price will skyrocket or explode means you probably bought at what you assumed to be a DIP price and waiting for an explosion so you can sell. what is even the difference between bitcoin price skyrocketing and it exploding? looks like the two of you are talking about the same thing.

Watching the chart to "repurchase when the price drops" isn't investing....that's active trading. Real long term investing means buying consistently, ignoring the noise and holding solid assets for years, not playing timing games.
Buy price actually matters, and time in the market beats your amateur timing every single time. Risk management is good, but stop mixing up trading tactics with actual investing.

while some of your opinion are true, some still lacks a level of coherence because on the one part, it seams you are still struggling with being too conscious of the price of bitcoin at the time of buying it and with that it means you are not doing DCA and that you are trying to play games with the market. that is what traders do  by gambling with their intended investment amount. overly watching the chart before buying, trying to time the market before buying the DIP are all element of trading. if you are a long term investor, these should be far from you.

[Barikui1]

DCA works better when prices skyrocket after you’ve been buying.... Claiming it only works if prices don't explode is straight up nonsense.

I don't know where you get this theory from, but what I want you to know is that the dca accumulating strategy doesn't have a specific time when it works better or not, because you will get to buy at every price interval, and even the lowest part of the dip others may miss out on, because they thought it might go deeper, and accumulating Bitcoin through that strategy is the most reliable way to accumulate a huge stash of Bitcoin.
If you start looking at the best time to buy, that is no longer a dca strategy, because you are now thinking that you can outsmart the market, which will compel you to start waiting for the market before buying, so it's wrong to think that their is a better time to buy Bitcoin when utilizing the dca accumulating strategy during your Bitcoin accumulation.

[ultrloa]

That is like saying he should gamble first and then get balanced in bitcoin instead of knowing what he’s doing.

I am not saying that.   If a guy knows that for sure he has $100 per week that he could use to buy bitcoin, yet he chooses to ONLY invest $30 per week for the next 4 weeks until he has a chance to look into the matter, then he is exercising his judgement to reduce the amount that he put into bitcoin since he does not know anything, and then he will reassess at a later date.  He has invested an amount that he is willing to lose, and he has decided to get started rather than fucking around waiting or allocating some time to learn what you believe he needs to learn.  He has already decided based on what he thinks he knows, and he his an adult, so I see no problem with his choice to get started based on his assessment that he has sufficient discretionary funds and he has also used his common sense to make a decision how much he is going to start with and that he figures his timeline is around 3-4 weeks before he can spend further time on the matter of looking at bitcoin and/or looking at any cashflow consideration matters that he might determine to be relevant.

That decision to smart small and also which they can afford to lose is smart way to proceed on their investment. If people have that $100 but just decide o put $30 at this moment, then they are just provably using their common sense like they want to test on how everything works then try to manage their investment in low risk position.

That part is we can see those people doing that are using their discretionary funds and they are not rushing to proceed then create wrong judgment with their investment. They are taking low risk for now without waiting to take action.

[Agbam]

Initially, in late 2013 when I started, I had been looking for a way to diversify my other investments into something that was like gold, but I did not like gold (even though there had been some index funds that I had initially seen about a month before I started looking into bitcoin), so when I first came accross bitcoin I thought that it was better than the other index funds that I had found, so then I developed a 6 month budget in order to start buying bitcoin, and with my 6 month budget, I divided it into 26 parts so that would be my weekly authorization for how much I was going to put into bitcoin, and I figured that I would get started and that I would try to buy within my budget each week while I continued to study bitcoin.  There was a certain value in just getting started and learning from where to source coins, but then there also was ongoing learning, so I had already been buying bitcoin on a weekly basis for about 3 months when a guy had recommended me to the forum (to the Wall Observer thread). 

You have been registered here for more than 8 months, so perhaps you have been buying bitcoin, yet maybe you feel some value in having had waited rather than getting started, since of course, the BTC price has gone down a lot in the last 8-ish months... but price may or may not be too much of a factor for any guy who might decide to get started buying bitcoin...and he might spend a whole cycle or more just ongoingly buying bitcoin.. .. and perhaps you have different ideas about those matters, too? I would expect the longer a guy is in bitcoin then the more he has had time to learn, even though some guys spend years and years and years in bitcoin and still seem to not know what it is or why they are in bitcoin.

What about you? what are your reasons now versus what were your reasons when you started? and have your reasons changed or your approach?

With all the dissecting conversations we’ve been having, I’m beginning to see it from your perspective, this is the moment I have to say I disagree to agree.
I actually believe that to get started with any investment you need the money to start (that’s your discretionary) and some basic knowledge of that investment. But now I can see that if you have the money you can start investing and then gather the knowledge as you go on.


From your own story, before you started investing in bitcoin, you found some informations about bitcoin that made you decide to want to invest in it… will that not be considered as gathering basic knowledge? You could have easily invested in gold or any other asset if the only requirement was discretionary money. And you were already a seasoned investor.

What I can conclude is that getting started with bitcoin might be different for everyone. While some might need a knowledge of what they’re getting into like me others can just put in their money (what they can afford to lose) and gain the knowledge and conviction as they grow in their investment experience.

A friend introduced me to bitcoin, I had the wrong impression about bitcoin, I was only after profits, preferred dealing with Altcoins, I was thinking bitcoin was already too expensive to get started. So after my discussions with my friend I did a little research and I decided to give it a try. Then I later discovered this forum and my knowledge and trust began to increase. I started with monthly buys but I’ve increased the amount I put in monthly and my level of aggressiveness, sometimes I do weekly.
Now I see bitcoin as a way of saving money for the future without worrying about inflation, and a means to build wealth.

[alankasman]

while buying bitcoin with the DCA, if the price comes down, it helps you to even buy cheaper and if it skyrocket, you still continue with your routine and on the average, you are still not loosing. if you are too concerned about how fast price will skyrocket or explode means you probably bought at what you assumed to be a DIP price and waiting for an explosion so you can sell. what is even the difference between bitcoin price skyrocketing and it exploding? looks like the two of you are talking about the same thing.

It's better to ignore the price when buying Bitcoin. When the price drops it's an opportunity we can't afford to miss. Therefore it's natural for those with higher incomes or discretionary income to make purchases. This is the best way to accumulate Bitcoin with the goal of increasing their BTC holdings.

Likewise when the price is already increasing because do not just take the opportunity when the price is decreasing to buy Bitcoin because we as the party who invests in Bitcoin every time we have income whether the price is increasing still try to make purchases but do not do it by forcing yourself because look at the needs first because needs are part of a responsibility to be able to fulfill the sufficiency in life unless the income we get exceeds the needs it will not be a problem because everything can be sufficient to buy Bitcoin with an impressive pattern or not what is clear is that buying Bitcoin should not be constrained by the needs that are spent because many things happen to be able to accumulate but are hampered by needs so that the problems will be bigger that will be faced by those who do it.

[GoldBitcoin112]

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.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

Following a friend who invest in Bitcoin and you like the investment procedures and after you might finish asking some questions and he clearly told you all you really need to know before you can decide to start, I think that is not a bad decision, except in a situation where the friend is pressuring his friend to invest into Bitcoin when he can't clearly explain in details the up and down in the Bitcoin cycle the risk associated with it, then I think such friends is not doing good to his friend,  because we all know that we have risk management in Bitcoin so your friends are supposed to teach you properly before investing so that you can actually know how to manage risk when it's about to occur.

[Princess Leah]

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

Someone can be motivated by an a close friend or successful investor they come across on the media or so but investment is a personal decision and not based on other people's decision. If someone invest based on other people decision or a guarantee that they'll be wealthy in certain period like some investors use to motivate newbies then such person would end up disappointed in the long run.

 The disappointment mostly starts with volatility, Bitcoin is a volatile asset an sometimes drop so low that some people get discouraged about it especially those whose decision concerning investing in it is was triggered by someone else's instructions or guarantee of certainty for profits. Bitcoin investment should be a personal decision so the investor would be determined to follow it accordingly until the goal for investment is met.

[Kelward]

while buying bitcoin with the DCA, if the price comes down, it helps you to even buy cheaper and if it skyrocket, you still continue with your routine and on the average, you are still not loosing. if you are too concerned about how fast price will skyrocket or explode means you probably bought at what you assumed to be a DIP price and waiting for an explosion so you can sell. what is even the difference between bitcoin price skyrocketing and it exploding? looks like the two of you are talking about the same thing.

It's better to ignore the price when buying Bitcoin. When the price drops it's an opportunity we can't afford to miss. Therefore it's natural for those with higher incomes or discretionary income to make purchases. This is the best way to accumulate Bitcoin with the goal of increasing their BTC holdings.

Likewise when the price is already increasing because do not just take the opportunity when the price is decreasing to buy Bitcoin because we as the party who invests in Bitcoin every time we have income whether the price is increasing still try to make purchases but do not do it by forcing yourself because look at the needs first because needs are part of a responsibility to be able to fulfill the sufficiency in life unless the income we get exceeds the needs it will not be a problem because everything can be sufficient to buy Bitcoin with an impressive pattern or not what is clear is that buying Bitcoin should not be constrained by the needs that are spent because many things happen to be able to accumulate but are hampered by needs so that the problems will be bigger that will be faced by those who do it.

I think that we all have to decide on a strategy of Bitcoin accumulation which will help us to become become more focused, if you've made up your mind to do DCA strategy then you should know what is involved which is to buy regardless of where price is headed. Investors who are always undecided about what they want when price starts to skyrocket are not yet decided that they want to be true to the full meaning of DCA strategy.

Ofcourse you can decide to use one or combined strategies but the goal should be to hold for a long term without selling, if you don't have life issues that perhaps have to do with saving lives and there is no option but to sell your Bitcoin you should just keep holding. This is why emphasis to use discretionary funds to accumulate Bitcoin is very important, if you have taken care of your basic needs you should plan your discretionary wants instead of selling your Bitcoin prematurely.

[Rebirth01]

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.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

First before venturing into any business, you are in to it to make profit and there are variables and intrigues in it. Yes some people goi into investment based on Mr A is into the business and he is succeeding or he is already successful therefore you will try your luck in the same business. Some are motivated by what Mr A is doing so they think it's well without knowing the tricks in the business. Blind following has led people astray in terms of business. Some people will do trial and error and they will succeed but the percentage of those who do trial and error and succeed is low therefore in all you do, try and learn the skills involved before doing anything especially in the business line.

[Soldroplet]

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.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

Following a friend who invest in Bitcoin and you like the investment procedures and after you might finish asking some questions and he clearly told you all you really need to know before you can decide to start, I think that is not a bad decision, except in a situation where the friend is pressuring his friend to invest into Bitcoin when he can't clearly explain in details the up and down in the Bitcoin cycle the risk associated with it, then I think such friends is not doing good to his friend,  because we all know that we have risk management in Bitcoin so your friends are supposed to teach you properly before investing so that you can actually know how to manage risk when it's about to occur.

I agree with part of your statement, especially when you say that friends should be made aware of the correct information and risks.However, in my opinion, no matter how well a friend explains it to you, it is very important to try to know yourself well before making a final investment decision. Because just as if you make a profit, you are responsible for the decision, if you lose, you are responsible for it.
A friend's advice can guide you, but trust and understanding should be built through your own research. So it is good to listen to someone and be interested, but not to understand the matter yourself before investing. This is the identity of a responsible investor.

[Crakryptvest]

Following a friend who invest in Bitcoin and you like the investment procedures and after you might finish asking some questions and he clearly told you all you really need to know before you can decide to start, I think that is not a bad decision, except in a situation where the friend is pressuring his friend to invest into Bitcoin when he can't clearly explain in details the up and down in the Bitcoin cycle the risk associated with it, then I think such friends is not doing good to his friend,  because we all know that we have risk management in Bitcoin so your friends are supposed to teach you properly before investing so that you can actually know how to manage risk when it's about to occur.

It is is never a bad idea to invest in Bitcoin because your friends are doing the same, I think that a motivation force working, as long as you aproach them, and you were cleared on the do and don't and also what to expect then I don't see any issues with that, many persons has become rich just because the followed they footsteps of their friends although the otherwise has also happened before but not in Bitcoin unless the person that decided to do what his friends are doing decided to follow it the wrong way, many Bitcoin investors started investing with the information they got from friends, close relative and also reliable informations from the Internet space.

[Yablee0]

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.

When you have no idea about investment or Bitcoin, just because your friend is investing in it, then it is definitely wrong and you are going to indulge in gambling in the name of investment. Yes, take advice from others and get ideas from them about how others are doing, but it will never be right to follow the path shown by others. Proceed based on your own judgment and when you gain common sense and when you are able to find a source of discretionary income, then you can invest.

Blindly following anyone, not just a friend, into Bitcoin or any investment is a mistake... If your only reason for investing is my friend is doing it, then you are not ready for investing yet, you are just copying someone else’s decision without understanding the basic things like risk involved…
I am not saying there is anything wrong with getting interested in Bitcoin because of a friend.. Many people first heard about Bitcoin or a business through someone else.. The important part is what happens next.. Do your own research..

You are sounding as if it's totally a wrong thing knowing about Bitcoin investment from someone else, as a matter of fact the reason why  i am into Bitcoin stuff today is through a friend of mine of which I'm pretty doing well as we speak. However, nobody actually ventured into Bitcoin investment all by himself, it must either be from a friend, family members or somewhere else but the point there is for you to endeavor in making your own findings  so you get a clear sketch of what you are about to venture into.  Moreover, Bitcoin investment is one great investment plan that nobody that has literally invested in it in the past that didn't came out successful unless you were only running after quick profits (trading) which is not always guaranteed.