Buy Buy Buy or Sell Sell Sell?

[Promocodeudo]

The price fluctuation of Bitcoin make it difficult for a person who is new to Bitcoin to hold it for long term. There are many things which we understand about Bitcoin only once we start investing in Bitcoin. We constantly here write about emergency funds, discretionary income and stuff like that but someone who is very new to Bitcoin won't understand the importance of these terms unless he start investing in Bitcoin. The best way to learn about details of Bitcoin investment is to start investing in Bitcoin.  

I agree that as people invest in Bitcoin, they more knowledgeable they get about Bitcoin investment grow,  and someone has to start right, and don't you think a beginner will get use to how Bitcoin bahave as the continue to invest, as such they won't be disturbed about volatility cause at some point they'll understand that volatility is something no one can change or prevent from happening, the most important thing for anyone to do, is to begin, learning is assured especially for people that are determined, not for for those who came to make quick profit, which Bitcoin didn't promise anybody, one thing I know for sure and I think every new investor should have thought of it before investing in Bitcoin, Bitcoin is a long-term investment which has not changed, nothing should change that narrative about Bitcoin.

[BluebloodCXVI]

[edited out]

If you don't already possess patience and discipline in your life before investing in bitcoin, long-term investing won't teach you any of these traits. You will become the person you are after investing in bitcoin; not everyone is patient. A man who is impatient won't simply become patient by investing in bitcoin. Because of this, some people will tell you that they can't keep their bitcoin for very long. This isn't because they dislike the idea, but rather because they don't have the patience or self-control to do so.

Investing in bitcoin will not change this overnight. They may be able to hold out for a few weeks or months at first, but in the long run, their inherent quality will always prevail. So, before investing in bitcoin, prospective investors should understand their own strengths and weaknesses.

Actions can guide mindset.

So a guy who figures out how to budget the amount that he puts into bitcoin so that he is not investing more than he can afford to lose, then he is expecting to invest for a long time, such as 4-10 years or more.

If a guy is investing 4-10 years or morel, then why should he give any shits if the short term price of BTC is up, down or sideways...

And, yeah frequently we are talking about investing more than 10 years, unless guys have some health or age matter that does not allow them to invest for more than 10 years.

Again, if guys are really investing 10 years or more, then you really believe that they should be getting worked up about whether the BTC price ends up being up, down or sideways in the short-term.. merely because they happen to be impatient?  Maybe if they are impatient they would not be investing into bitcoin in the first place.. they would be figuring out assets to trade.. which surely many of the longer term bitcoiners do not recommend trading and/or gambling with bitcoin... so yeah, bitcoin may well not be a good asset for the trader and/or gambler.

It’s hard to not to agree with you on this one.

If a guy’s bitcoin investment plan is genuinely a plan that he created based upon a multi year mindset, and the monetary sizing that he chooses to allocate into bitcoin is conservative and relative to what can be lost, then i think that short term price direction is largely irrelevant in that context.

Now no one should get me wrong, i’m not saying that market price is irrelevant altogether, but in this particular setup I just highlighted, it is, largely.

[Derekfunds]

Knowing that Bitcoin is volatile is common knowledge, it’s when you start investing you will experience how it works. I don't think you should also present basic knowledge as something someone must have prior investing in Bitcoin. Beginners don’t have to be experts before knowing how to figure out their discretionary income and kickstart accumulation journey.

What reduces a person chances of force selling is his manner of investing. Once you’ve taken care of your important needs… priotize building reasonable backup funds alongside your Bitcoin accumulation. It is normal for beginner to panic during big drops, but don’t allow it to force you into making emotional decisions. That’s why you should focus building a solid plan and improving it. In most cases, those that panic and sell didn’t come in with trading mindset, but because they didn’t invest in a sustainable way and according to their financial situation.

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading. Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you. How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

This manner of force selling will always come as a result of lack of basic knowledge, if you don't have basic knowledge don't you know you will invest with money meant for your needs, maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

[Perfect-World]

Knowing that Bitcoin is volatile is common knowledge, it’s when you start investing you will experience how it works. I don't think you should also present basic knowledge as something someone must have prior investing in Bitcoin. Beginners don’t have to be experts before knowing how to figure out their discretionary income and kickstart accumulation journey.

What reduces a person chances of force selling is his manner of investing. Once you’ve taken care of your important needs… priotize building reasonable backup funds alongside your Bitcoin accumulation. It is normal for beginner to panic during big drops, but don’t allow it to force you into making emotional decisions. That’s why you should focus building a solid plan and improving it. In most cases, those that panic and sell didn’t come in with trading mindset, but because they didn’t invest in a sustainable way and according to their financial situation.

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading. Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you. How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

This manner of force selling will always come as a result of lack of basic knowledge, if you don't have basic knowledge don't you know you will invest with money meant for your needs, maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

Newbies don't really need to know much before starting there investment. If they are able to figure out there discretionary income, they can begin buying Bitcoin in little amounts while they figure things out as they go.

Much emphasis on getting Basic knowledge before starting might sound ambiguous for newbies who might begin to think they are needed to learn much before starting, and this might delay there begining since it naturally takes time to learn new things.
 Probably, your assumptions of getting a basic knowledge before starting lies within a newbie knowing that Bitcoin is volatile, knowing that investment must only be done with there discretionary income, knowing that how to buy, where to buy and how to store, etc, yet, a newbie who is interested might not necessarily need to know all these before starting. If he has a Discretionary income, and has common sense, he could figure things out while investing.

[Lembo69]

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading. Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you. How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

This manner of force selling will always come as a result of lack of basic knowledge, if you don't have basic knowledge don't you know you will invest with money meant for your needs, maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

Your argument is logical, but not entirely correct. The very "foundational knowledge" you speak of might actually cause a new investor to fall behind rather than move forward. Ultimately, Bitcoin investment is for those willing to take risks. You don't necessarily need to possess all that preliminary knowledge right at the start. One simply needs to step into the world of Bitcoin. Think of it this way: an engineer describes a beautiful house to you—detailing its dimensions, the layout of the rooms, the location of the stairs, and so on. You gain a conceptual idea of ​​the house, but until you actually step inside and see everything with your own eyes, the engineer's description remains just a story. Once you enter and see it for yourself, however, you will truly observe, learn, and understand everything about the house.

The same applies to a new investor; they simply need to get started with Bitcoin, and they can learn the ins and outs of investing over time. While having preliminary knowledge certainly makes things easier, it would be a mistake to let the pursuit of such knowledge delay one's entry into Bitcoin investment. The sooner one invests, the faster their portfolio will grow.

[PhilosopherKing]

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading. Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you. How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

This manner of force selling will always come as a result of lack of basic knowledge, if you don't have basic knowledge don't you know you will invest with money meant for your needs, maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

How about you quit acting like basic knowledge is the solution to every problem that an investor will ever face while ongoingly investing in bitcoin. Basic knowledge or not, new guys to bitcoin will still make mistakes, I mean that is why they are new. You too am sure you were not Mr perfect and Mr know it all in the first few weeks of investing, you of course still made mistakes like a new guy would before you finally later understood them because you kept on ongoingly learning along the way. You avoid mistakes not by learning once and stoping, but by learning and learning till changes begins to happen.

And don't twist thing up, because forced selling comes when you dont keep emergency funds intact for emergency. See bruh, you could know that emergency funds is important and still not keep it, it happens with guys all the time. Knowing something and doing something are different thing. And I also don't even see why person can't start and figure this things out along the way.

[ejikeme24]

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading. Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you. How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

This manner of force selling will always come as a result of lack of basic knowledge, if you don't have basic knowledge don't you know you will invest with money meant for your needs, maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

It depends on what you consider as basic knowledge, if it's about knowing the right funds to invest with (discretionary funds). First I want you to know that discretionary income is already in existence before the adoption of Bitcoin and during that time many people still recognized and or knew that they are supposed to invest from Their discretionary income, sometimes you just need common sense to know all this things. But it's not bad to teach a beginner about discretionary income if they don't know the right wallet to invest from and one other thing a beginner need to know is the volatile nature of Bitcoin and how to make purchase from exchange wallet, and also knowing that they need to create emergency funds for their investment then every other thing will be review to them when they get started.

[JayJuanGee]

The price fluctuation of Bitcoin make it difficult for a person who is new to Bitcoin to hold it for long term. There are many things which we understand about Bitcoin only once we start investing in Bitcoin. We constantly here write about emergency funds, discretionary income and stuff like that but someone who is very new to Bitcoin won't understand the importance of these terms unless he start investing in Bitcoin. The best way to learn about details of Bitcoin investment is to start investing in Bitcoin.  

This is not actually correct because before someone will think of investing in Bitcoin he or she must have gotten the basic knowledge and also the understanding that the price of Bitcoin is always stable which means that it can fluctuate so badly but having this understanding will make a real investor stay calm and accumulate instead of panicking or selling because most of the people who panic or sell are not actually investors but traders who are looking out for short term profit

You are wrong.

All a beginner bitcoin investor needs to get started is discretionary funds.

If he has discretionary funds, then he can get started.  He can decide whether or not to buy bitcoin and if he decides to buy, then he can decide how much to buy.  There are no other knowledge requirements in order for a bitcoin newbie to get started.  The bitcoin newbie can exercise his judgement about what to do.

On the other hand, you want to impose your own requirements on the bitcoin newbie and tell him what he needs to know.  Well go ahead.  What is this supposed bitcoin knowledge (or basic knowledge) that you believe that he needs to know beyond knowing that he has discretionary funds?

The price fluctuation of Bitcoin make it difficult for a person who is new to Bitcoin to hold it for long term. There are many things which we understand about Bitcoin only once we start investing in Bitcoin. We constantly here write about emergency funds, discretionary income and stuff like that but someone who is very new to Bitcoin won't understand the importance of these terms unless he start investing in Bitcoin. The best way to learn about details of Bitcoin investment is to start investing in Bitcoin.  

This is not actually correct because before someone will think of investing in Bitcoin he or she must have gotten the basic knowledge and also the understanding that the price of Bitcoin is always stable which means that it can fluctuate so badly but having this understanding will make a real investor stay calm and accumulate instead of panicking or selling because most of the people who panic or sell are not actually investors but traders who are looking out for short term profit

Knowing that Bitcoin is volatile is common knowledge,

You are missing the point. You think that a bitcoin newbie has to know whether or not bitcoin prices are volatile and needs to know how to read a bitcoin price chart in order to get started buying bitcoin?

Maybe a bitcoin newbie looks at a bitcoin price chart and he sees that it is volatile, and maybe he does not see it.  Does it matter if he sees it?  Is he disqualified from being able to decide for himself whether he is going to get started buying bitcoin as long as he has determined that he has discretionary funds available in order to get started buying bitcoin?

it’s when you start investing you will experience how it works. I don't think you should also present basic knowledge as something someone must have prior investing in Bitcoin. Beginners don’t have to be experts before knowing how to figure out their discretionary income and kickstart accumulation journey.

Ok.  You are correct about this stuff.

What reduces a person chances of force selling is his manner of investing. Once you’ve taken care of your important needs… priotize building reasonable backup funds alongside your Bitcoin accumulation. It is normal for beginner to panic during big drops, but don’t allow it to force you into making emotional decisions. That’s why you should focus building a solid plan and improving it.

You think that a bitcoin newbie needs to have a plan before getting started? and/or a bitcoin newbie has to have goal to either establish a plan or to improve whatever plan that he has in order to be able to get started buying bitcoin?

Why can't a bitcoin beginner decide for himself what he needs or does not need?

In most cases, those that panic and sell didn’t come in with trading mindset, but because they didn’t invest in a sustainable way and according to their financial situation.

You might be correct about a likelihood that bitcoin beginners are not going to be very likely to be able to successfully continue to buy bitcoin if he does not invest within his budget and perhaps to make sure that he is investing no more than he can afford to lose, yet in order to get started buying bitcoin, he does not need to know the extent to which he is going to be successful.

It seems to me that bitcoin beginners can decide for themselves how much they would like to start with, and over and over, I give an example that if a person who has gone through some calculations and he knows that he has $100 per week of discretionary income, then he should be able to decide how much of that discretionary income that he wants to use for buying bitcoin.

He can start with investing $0 or $100 or some amount in between, it is up to him. It seems to me that if he invests $100, then he better have some back up funds in order that he can be sure that he is not spending beyond his discretionary funds.. but he should be able to figure out how much he has for discretionary funds and when he expects to get paid next.  If he does not know when he is going to get paid next, then perhaps he has miscalculated his discretionary funds, and so surely it seems important that he does not screw up calculating his discretionary funds, but if he does make such mistake, then he is going to have to bear the responsibility of making such a screw up... and it would seem that an overwhelming majority of normal people would not want to spend beyond their discretionary funds in order to buy bitcoin. 

I surely would not recommend gambling with bitcoin, yet at the same time, it may well be the case that a person with decent judgement might decide to start out buying $30 worth of bitcoin per week, even if he knows that he has $100 per week of discretionary income so that he can learn from the process of buying bitcoin and so that he can learn whatever other thing that he feels that he needs to learn.  and those kinds of matters, including his deciding how much he wants to learn or not, are up to each person to figure out or to decide upon.. It does not seem right for someone else to tell a bitcoin newbie what he needs to know or not know.. since an overwhelming majority of people should be able to make those kinds of determinations involved around whether to buy any bitcoin at all, and if so how much to start with and whatever other matters he might need to figure out regarding his cashflow, if any..

[edited out]

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading.

You are the one who is being misleading @Derekfunds to be suggesting that bitcoin newbies need knowledge (beyond their knowing that they have discretionary funds) in order to get started buying bitcoin.

Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic

Why don't you list out the supposed basic knowledge that you believe a beginner bitcoiner needs in order to get started, rather than spouting out vague and amorphous ideas that hardly have any meaning, and trying to place requirements on bitcoin newbies that do not exist, except that you are making shit up.

because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you.

People make all kinds of mistakes all of the time.  So you think that there should be a goal that "no mistakes" can be made in order to get started buying bitcoin?  How does that requirement to not make mistakes make any sense?

How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

Yes.  many guys have already proclaimed that a guy needs to have discretionary funds in order to get started buying bitcoin.

You want to presume that he believes that he has discretionary funds, but he happens to be wrong about his actually having discretionary funds?  That also makes no sense.  If a guy does not have discretionary funds, then he would not be able to invest into bitcoin, since on the face of it, the best he could do is gamble with money that is needed for basic expenses.  You do realize that discretionary funds is that money that is in excess of the money needed for basic expenses, which also means that the guy can do whatever he likes with those discretionary funds.  He can invest, save and/or discretionarily consume.

Many of us already proclaim that guys need discretionary funds to invest in bitcoin, but you want to proclaim: "wait a second.  The guy might be mistaken.  The guy might not really have discretionary funds." 

Holy fuck.  If the guy does not have discretionary funds, then  he cannot invest in bitcoin because he does not have enough money.

This manner of force selling will always come as a result of lack of basic knowledge,

You think so?  you think that a guy who makes a mistake in buying bitcoin (Or makes a mistake in how much bitcoin he buys), then that will result in selling and it will be because he his missing some kind of knowledge that he should have had?

How about the bitcoin newbie exercises his judgement and he decides how much bitcoin he is going to buy based on how much discretionary funds he has available and perhaps he decides that he is going to invest only from the amount that he feels that he can afford to lose.  So then if he had made a determination (based on his own judgement) to invest a small enough amount of bitcoin so that he would not be worried about whether it goes up, down or sideways in value, then why should he panic to sell the bitcoin that he bought merely because the price goes down?  maybe he had decided that he is going to buy some bitcoin every week?  Perhaps $30 per week?  Why should he care if the BTC price goes up, down or sideways if he is buying $30 worth of bitcoin each week no matter the price?

if you don't have basic knowledge don't you know you will invest with money meant for your needs,

That is not true.  If a guy is investing from his discretionary income, then he has already figured out his basic needs, and he is using money that is in excess of the money that he needs to cover his various basic needs until the next time he gets paid, no?

maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

You sound as if you are just making shit up @Derekfunds.  You want to create requirements that do not exist, and you also want to presume that a bitcoin newbie cannot figure out whether or not he has discretionary funds when so many guys already have proclaimed that bitcoin newbies need to figure out that they have discretionary funds to be able to invest in bitcoin.  I don't know why you are wanting to presume that he does not have discretionary funds when so many guys have already asserted that bitcoin newbies need to figure out that they have discretionary funds to be able to actually invest in bitcoin rather than gambling in connection with bitcoin.

[edited out]

The same applies to a new investor; they simply need to get started with Bitcoin, and they can learn the ins and outs of investing over time. While having preliminary knowledge certainly makes things easier, it would be a mistake to let the pursuit of such knowledge delay one's entry into Bitcoin investment. The sooner one invests, the faster their portfolio will grow.

Bitcoin newbies decide for themselves the extent to which they have enough knowledge to get started and also whether they are going to get started and how much they are going to put in if they do end up getting started.

There is no reason for others to patronize newbies and act as if they do not know anything and/or to presume that the bitcoin newbie does not have a brain of his own.

[hmbdofficial]

if you don't have basic knowledge don't you know you will invest with money meant for your needs,

That is not true.  If a guy is investing from his discretionary income, then he has already figured out his basic needs, and he is using money that is in excess of the money that he needs to cover his various basic needs until the next time he gets paid, no?

Yes it should be this easy to understand that the basic knowledge in this aspect isn’t really like a formal knowledge or education. Being able to identify your discretionary income is part of those basic knowledge, not reacting to market is also a form the basis knowledge. You see bitcoin is so simple that you don’t need to complicate issue. First get a stable income, define your discretionary income, make room for emergency funds, if possible keep some reserves funds. and your will just be okay with your investments without bordering too much about some basic knowledge. Those knowledge comes along with the process of the investment and should not matter when you’re about to start investing.

[Sulegzy39]

Actually When it comes to investing, it's crucial to first put money aside for necessities. However, a rule that states, "You can't buy every day" or "You have to buy every week" may be irrational. You are aware that not everyone earns money at the same rate. Some people make money every day, some every week, and some every month. The true question, in my opinion, is not how much money can be saved for the long run after accounting for debt pressure, discretionary income, emergency funds, and necessary expenses.

Even someone with a monthly salary, in my opinion, can split their discretionary income into four parts at the start of the month and make weekly purchases. Once more, daily purchases are not always beneficial for those with daily incomes. Because you really don't want to deal with the hassle of making frequent small purchases. Additionally, it may make accounting and fees more burdensome. Because of this, while purchasing on a weekly basis may be feasible for many, it is not a requirement for everyone.

[knowngunman]

It’s hard to not to agree with you on this one.

If a guy’s bitcoin investment plan is genuinely a plan that he created based upon a multi year mindset, and the monetary sizing that he chooses to allocate into bitcoin is conservative and relative to what can be lost, then i think that short term price direction is largely irrelevant in that context.

Now no one should get me wrong, i’m not saying that market price is irrelevant altogether, but in this particular setup I just highlighted, it is, largely.

No one is getting you wrong but some investors get the whole thing wrong. They invest with short time mindset in reality but think they are long time investors. Some of them can not even identify the money they can afford to lose. If every investor actually invest with the money they can afford to lose, we'll rarely see panic selling when the market condition becomes uncertain.

For someone that truly plan to hold for at least a minimum of four years and is actually buying with the amount they can afford to lose, why should they worry at a slight market correction? Aren't they suppose to be happy to accumulate more sats with little money? That's why sometime I doubt if people actually know what they're doing or if they know what they really want at all.

[kingstep]

Actually When it comes to investing, it's crucial to first put money aside for necessities. However, a rule that states, "You can't buy every day" or "You have to buy every week" may be irrational. You are aware that not everyone earns money at the same rate. Some people make money every day, some every week, and some every month. The true question, in my opinion, is not how much money can be saved for the long run after accounting for debt pressure, discretionary income, emergency funds, and necessary expenses.

There is no one rule to be followed in making your buys and you don't have to buy bitcoin on a daily or weekly because bases in most case, if you are trying to do that, chances are that you might not be able to do that for an interval of one year or longer since it takes a lot of discipline and earning potential to plan and execute daily buying of bitcoin. for most salary earners, such is not even possible.

Buy your bitcoin as it seems convenient with the income you are earning. If by reason of how frequent you get your pay you can afford to do weekly DCA, then follow it that way but if your income can only allow you to carry out a monthly DCA, then you ought to work with what is convenient for you. The ultimate goal of every investor is to ensure that the quantity of bitcoin they can build up is reasonable and that they can still feed well, cloth well, and take care of other life's necessity while doing this. eventually, not every investor will get u to one bitcoin and some might within a short period of time gather more than one bitcoin, it all depends on the resources an investor has at his disposal.

[Alonso_]

You are wrong.

All a beginner bitcoin investor needs to get started is discretionary funds.

If he has discretionary funds, then he can get started.  He can decide whether or not to buy bitcoin and if he decides to buy, then he can decide how much to buy.  There are no other knowledge requirements in order for a bitcoin newbie to get started.  The bitcoin newbie can exercise his judgement about what to do.

On the other hand, you want to impose your own requirements on the bitcoin newbie and tell him what he needs to know.  Well go ahead.  What is this supposed bitcoin knowledge (or basic knowledge) that you believe that he needs to know beyond knowing that he has discretionary funds?

That is true, previously I used to be confused with having a basic knowledge and a discretionary income, I thought we require a basic knowledge before getting started, however I have now realized that we need just a discretionary income to get started.

Just like you have said, there is no other thing required for an investor to get started if not a discretionary income,  what is the essence of having a basic knowledge when you don’t have a discretionary income to buy bitcoin.

I think as soon as a newbie has a discretionary income he or she should get started immediately with investing in bitcoin if she chooses to start buying bitcoin.

[B2Z]

You think so?  you think that a guy who makes a mistake in buying bitcoin (Or makes a mistake in how much bitcoin he buys), then that will result in selling and it will be because he his missing some kind of knowledge that he should have had?

How about the bitcoin newbie exercises his judgement and he decides how much bitcoin he is going to buy based on how much discretionary funds he has available and perhaps he decides that he is going to invest only from the amount that he feels that he can afford to lose.  So then if he had made a determination (based on his own judgement) to invest a small enough amount of bitcoin so that he would not be worried about whether it goes up, down or sideways in value, then why should he panic to sell the bitcoin that he bought merely because the price goes down?  maybe he had decided that he is going to buy some bitcoin every week?  Perhaps $30 per week?  Why should he care if the BTC price goes up, down or sideways if he is buying $30 worth of bitcoin each week no matter the price?

I think that a person's lack of knowledge about buying Bitcoin is not a big problem for investment, but the big problem is buying without understanding one's position or one's limit, that is, buying more than one's limit, which later acts as pressure on the investor.

If a person wants to buy Bitcoin with $30 from his discretionary income, then he should give more importance to that $30. If the market increases, he will be able to buy relatively less Bitcoin with $30, and similarly, if the market decreases, he will be able to buy relatively more Bitcoin with $30, that is, the main thing here is the specific amount. However, yes, the investor can increase this amount step by step based on his position and his discretionary income. That is, if the investor decides to use $30 continuously for investment in the beginning, then later he can increase the amount if he wants, that is, everything will depend on his position and his discretionary income.

[Gost ms]

Actually When it comes to investing, it's crucial to first put money aside for necessities. However, a rule that states, "You can't buy every day" or "You have to buy every week" may be irrational. You are aware that not everyone earns money at the same rate. Some people make money every day, some every week, and some every month. The true question, in my opinion, is not how much money can be saved for the long run after accounting for debt pressure, discretionary income, emergency funds, and necessary expenses.

Even someone with a monthly salary, in my opinion, can split their discretionary income into four parts at the start of the month and make weekly purchases. Once more, daily purchases are not always beneficial for those with daily incomes. Because you really don't want to deal with the hassle of making frequent small purchases. Additionally, it may make accounting and fees more burdensome. Because of this, while purchasing on a weekly basis may be feasible for many, it is not a requirement for everyone.

If you mean to divide your discretionary income into four parts and invest the entire amount, then I do not agree with you. Because we need to create an emergency fund to deal with financial crises, if a person does not have an emergency fund, then if he invests the entire amount of his discretionary income, he will not be able to deal with the emergency situation and in the midst of a financial crisis, you will have to sell your holdings. If the price of Bitcoin is below your purchase price, then you will have to sell it at a loss.

A person can do this as you say, but if he sets aside money for an emergency fund and monthly additional expenses, then he can divide the remaining amount into four parts and invest it weekly.

[Obulis]

[edited out]

If you don't already possess patience and discipline in your life before investing in bitcoin, long-term investing won't teach you any of these traits. You will become the person you are after investing in bitcoin; not everyone is patient. A man who is impatient won't simply become patient by investing in bitcoin. Because of this, some people will tell you that they can't keep their bitcoin for very long. This isn't because they dislike the idea, but rather because they don't have the patience or self-control to do so.

Investing in bitcoin will not change this overnight. They may be able to hold out for a few weeks or months at first, but in the long run, their inherent quality will always prevail. So, before investing in bitcoin, prospective investors should understand their own strengths and weaknesses.

Actions can guide mindset.

So a guy who figures out how to budget the amount that he puts into bitcoin so that he is not investing more than he can afford to lose, then he is expecting to invest for a long time, such as 4-10 years or more.

If a guy is investing 4-10 years or morel, then why should he give any shits if the short term price of BTC is up, down or sideways...

And, yeah frequently we are talking about investing more than 10 years, unless guys have some health or age matter that does not allow them to invest for more than 10 years.

Again, if guys are really investing 10 years or more, then you really believe that they should be getting worked up about whether the BTC price ends up being up, down or sideways in the short-term.. merely because they happen to be impatient?  Maybe if they are impatient they would not be investing into bitcoin in the first place.. they would be figuring out assets to trade.. which surely many of the longer term bitcoiners do not recommend trading and/or gambling with bitcoin... so yeah, bitcoin may well not be a good asset for the trader and/or gambler.

Indeed action can guide mindset. An investor who have decided to hold for 4 years or more have nothing to do with short term price of Bitcoin whether high, low or sideways. Deciding to hold for long term is the action and that can really give the mind the needed guide to go on holding without worries of short term price of Bitcoin. An impatient person who have decided to hold for long term can continue with their impatience in other things but can go on patiently holding Bitcoin for the decided period. That's the action (decision to hold) speaking so loud, guiding the mind, that's the action setting the mind towards holding patiently.

[Soldroplet]

[Edited Out]

So are you suggesting people should start investing in Bitcoin without a basic knowledge, that is very wrong and I disagree since this information sounds misleading. Anyone should have a basic knowledge about Bitcoin prior to their investment because you can just go into something you don't know the basic because there is a high chance of you making mistakes and trust me the same way you entered is the same way you will be kicked out that I can assure you. How will you know that you are meant to use your discretionary income if you don't have the basic knowledge?

This manner of force selling will always come as a result of lack of basic knowledge, if you don't have basic knowledge don't you know you will invest with money meant for your needs, maybe you have gotten to a better height and you have gotten enough knowledge about Bitcoin that is why you are sounding like you started the way you are now

I think the term “basic knowledge” is being overstated here. It does not mean that someone who wants to start with Bitcoin has to become an expert in everything about Bitcoin. The most important thing to do at the beginning is to understand your income and expenses and use money that you do not need to cover your regular and necessary expenses. That is, after deducting all necessary expenses and family expenses, the extra money that remains can be used to buy Bitcoin according to your situation, as well as build an emergency or backup fund. If someone starts with a small amount, then while holding Bitcoin, they can gradually learn about its security, wallet, private key, DCA method.

And it would not be right to call the forced sale of Bitcoin just “lack of knowledge about Bitcoin”. Many times the main problem is not maintaining cash flow, investing with money for emergency expenses, and buying more than you can afford. Even if a person knows a lot about Bitcoin, if they buy BTC with money they need for rent, food, or an emergency, they may have to sell it later.

[JayJuanGee]

if you don't have basic knowledge don't you know you will invest with money meant for your needs,

That is not true.  If a guy is investing from his discretionary income, then he has already figured out his basic needs, and he is using money that is in excess of the money that he needs to cover his various basic needs until the next time he gets paid, no?

Yes it should be this easy to understand that the basic knowledge in this aspect isn’t really like a formal knowledge or education. Being able to identify your discretionary income is part of those basic knowledge,

Discretionary funds is the only thing that you need to know.  There is no additional requirement for "basic knowledge," and discretionary funds is not part of basic knowledge, since having discretionary funds is the ONLY thing that you need to know in order to get started buying bitcoin.

not reacting to market is also a form the basis knowledge.

You do not need to know about not reacting to the market to get started as long as you have discretionary funds, you can start.

It’s hard to not to agree with you on this one.
If a guy’s bitcoin investment plan is genuinely a plan that he created based upon a multi year mindset, and the monetary sizing that he chooses to allocate into bitcoin is conservative and relative to what can be lost, then i think that short term price direction is largely irrelevant in that context.

Now no one should get me wrong, i’m not saying that market price is irrelevant altogether, but in this particular setup I just highlighted, it is, largely.

No one is getting you wrong but some investors get the whole thing wrong. They invest with short time mindset in reality but think they are long time investors. Some of them can not even identify the money they can afford to lose. If every investor actually invest with the money they can afford to lose, we'll rarely see panic selling when the market condition becomes uncertain.

For someone that truly plan to hold for at least a minimum of four years and is actually buying with the amount they can afford to lose, why should they worry at a slight market correction? Aren't they suppose to be happy to accumulate more sats with little money? That's why sometime I doubt if people actually know what they're doing or if they know what they really want at all.

It seems logical that bitcoin investors should want to know what they want and to try to figure it out, even if they might not know at the beginning of their investment into bitcoin, yet if they are ongoingly buying bitcoin and figuring out how much money that they have available to buy bitcoin, then they should have an incentive to get better at understanding both bitcoin and their cashflow management practices and/or systems.

If they are using their discretionary income to buy bitcoin, then they are likely making sacrifices in terms of how much money they have left in their discretionary funds after they had dedicated a certain portion of it to buying bitcoin, which means less money to save and/or to discretionarily spend.

You see bitcoin is so simple that you don’t need to complicate issue. First get a stable income,

You do not need to have stable income to start buying bitcoin.  All you need is discretionary funds to start.

define your discretionary income, make room for emergency funds, if possible keep some reserves funds.

In order to start, you only need enough back up funds to make sure that you are not buying bitcoin with money that goes beyond discretionary funds.  You do not have to figure out emergency funds, reserve funds or any other aspects of cashflow management as long as you are sure that you have discretionary funds and that you are not investing into bitcoin using money that goes beyond your discretionary funds.

and your will just be okay with your investments without bordering too much about some basic knowledge. Those knowledge comes along with the process of the investment and should not matter when you’re about to start investing.

Sure.  Guys can figure out whether and/or how much he wants to learn once he gets started buying bitcoin.  I would imagine that most people who invest in bitcoin would want to learn about both bitcoin and about cashflow management, yet it is up to them to figure out whether to learn and if so what to learn.

Actually When it comes to investing, it's crucial to first put money aside for necessities. However, a rule that states, "You can't buy every day" or "You have to buy every week" may be irrational. You are aware that not everyone earns money at the same rate. Some people make money every day, some every week, and some every month. The true question, in my opinion, is not how much money can be saved for the long run after accounting for debt pressure, discretionary income, emergency funds, and necessary expenses.

There is no one rule to be followed in making your buys and you don't have to buy bitcoin on a daily or weekly because bases in most case, if you are trying to do that, chances are that you might not be able to do that for an interval of one year or longer since it takes a lot of discipline and earning potential to plan and execute daily buying of bitcoin. for most salary earners, such is not even possible.

Buy your bitcoin as it seems convenient with the income you are earning. If by reason of how frequent you get your pay you can afford to do weekly DCA, then follow it that way but if your income can only allow you to carry out a monthly DCA, then you ought to work with what is convenient for you. The ultimate goal of every investor is to ensure that the quantity of bitcoin they can build up is reasonable and that they can still feed well, cloth well, and take care of other life's necessity while doing this. eventually, not every investor will get u to one bitcoin and some might within a short period of time gather more than one bitcoin, it all depends on the resources an investor has at his disposal.

I think that if guys are trying to be serious about accumulating bitcoin, then it is likely a good thing to try to figure out ways to buy bitcoin every week, even if their pay might be irregular and/or their expenses might be irregular.   Sure, in the beginning they have to build up systems, including both building up their bitcoin stash and their back up funds, yet at the same time, it seems that the longer that they are building up their bitcoin and back up funds, then they should build cushions in their funds so that they are able to buy bitcoin every week.

In regards to how much bitcoin to accumulate, those kinds of goals can surely vary, yet personally I like to consider matters in terms of already existing income, so if guys are investing 5% to 25% of their income into bitcoin, then the ones on the lower end of the range are going to take 20 years to invest 1 year's income into bitcoin, and the guys who are investing at the higher end of the range, they are investing 1 year of their income into bitcoin in a matter of 4 years... .so surely the rate that any of us invests into bitcoin can affect both how fast we are able to build our stash, and then perhaps help us to gauge how much bitcoin that we believe we need based on either our current standard of living or perhaps some meaningful standard of living that might be somewhat tethered (within reality) of our own already existing standard of living.

[edited out]

Indeed action can guide mindset. An investor who have decided to hold for 4 years or more have nothing to do with short term price of Bitcoin whether high, low or sideways. Deciding to hold for long term is the action and that can really give the mind the needed guide to go on holding without worries of short term price of Bitcoin. An impatient person who have decided to hold for long term can continue with their impatience in other things but can go on patiently holding Bitcoin for the decided period. That's the action (decision to hold) speaking so loud, guiding the mind, that's the action setting the mind towards holding patiently.

I think that you are making the concept more complicated than it needs to be.

I am not saying that the whole thing is easy, yet at the same time, if a guy has told himself, that no matter what he is going to buy bitcoin every week for some period of time that is between 4-10 years or longer, and that he is going to decide the amount each week, and in the beginning year or or so, he is going to buy anywhere between $30 (minimum amount) and $200 (and maybe more if he gets some extra income coming in), then every single week comes and he buys at least $30 of bitcoin, and yeah, maybe there are weeks that he buys more and weeks that he buys less.

If his routine is to buy bitcoin every week no matter what, then why would he either not buy bitcoin or sell bitcoin instead of buy?  It makes little to no sense for him to do anything other than buy bitcoin every week.

0f course, if he starts out buying bitcoin every single week, then there may well be times that he decides to assess his progress and to consider whether he is going to change anything in his plans and/or practices.  Maybe he assesses and reassesses every year or every couple of years, but he may well not need to change anything in his practice for quite a long time, depending on how much he is able to invest such as how much discretionary funds he is able to generate and if there might be other assets that he has that he might choose to reallocate into bitcoin.

[Showlove01]

if you don't have basic knowledge don't you know you will invest with money meant for your needs,

That is not true.  If a guy is investing from his discretionary income, then he has already figured out his basic needs, and he is using money that is in excess of the money that he needs to cover his various basic needs until the next time he gets paid, no?

Yes it should be this easy to understand that the basic knowledge in this aspect isn’t really like a formal knowledge or education. Being able to identify your discretionary income is part of those basic knowledge, not reacting to market is also a form the basis knowledge. You see bitcoin is so simple that you don’t need to complicate issue. First get a stable income, define your discretionary income, make room for emergency funds, if possible keep some reserves funds. and your will just be okay with your investments without bordering too much about some basic knowledge. Those knowledge comes along with the process of the investment and should not matter when you’re about to start investing.

Not reacting to  the market is actually a basic knowledge but mostly a decision, mindset and determination every single Investor should have in order for them to hold unto the long term. However, as long as Bitcoin Investment is concerned, you don't really need a stable income before you can start your Bitcoin investment because it is not compulsory. You can start your Bitcoin investment with any source of income that can give you a discrestionary.