Does the DCA strategy inspire newbies to invest?

[Umulala-alala]

This is the reason why they said that if we come to investments we should invest the amounts of money that we can able to afford to lose, because a person who is plan to hold for a long period of time will not carry all the money he/she have to invest without any backup like emergency funds as you stated earlier.

That’s why it’s good for every investors to have steady income so that once they invest they won’t be thinking otherwise about the investments or financial insecurity, and because of the unexpected dangers that will come our way during holding; which is why is very important for each an every investors to be vigilant.

I think that what is more important for every bitcoin investor is figuring out his discretionary income or source of his discretionary income, not steady income as you proclaimed, because having a steady income doesn't guarantees anything, since your income may be a bit steady, but you might struggle or unable to figure out your discretionary income to invest with, so having a discretionary income to invest with is the most important thing, not a steady income as you are saying.

If a person has a sincere desire to invest in Bitcoin, then he will be able to invest in Bitcoin with any income. Because that person is holding Bitcoin for the future, it will be better to take the only risk, because if he invests in Bitcoin according to his ability, it will be easier for him to keep it for a long time. Because the investor will invest some money to eliminate financial shortages in the future, it is a discretionary or prudent income, any income will be possible to invest here.
Investing in Bitcoin in the current position will be the best plan, so every responsible person should participate in Bitcoin investment according to his ability, he can create the ability to invest in Bitcoin with any income

Since BTC is volatile and nothing is also guarantee we shouldn't invest in it with just any income saying means that one can use all his money to invest in bitcoin or even using there emergency funds which is wrong, if folks can't figure out any discretionary income they shouldn't invest in BTC unless they have been able to figure out there discretionary income after meeting up the need of other important things you are supposed to settle like those pressing need then any funds that remains is your discretionary income which you can only use to buy bitcoin and hodl.

[KawasakiNinja1_]

The DCA strategy can certainly encourage new investors to invest since they would not have to struggle to purchase the stock at an ideal price. Novices are often afraid of volatility. but can learn to invest small sums on a regular basis. with discretionary income. which makes the process less stressful. I also concur that reserve funds are as well crucial as emergency can compel individuals to trade their Bitcoin too soon. Long term investing can only work when the daily expenses and emergency requirements have already been taken care of. That is why discipline. patience and right financial planning are of more essence than having to invest big sums at a time.

You can buy large amounts of Bitcoin when you have a lot of experience and can reach a risk tolerance level. Buy large amounts of Bitcoin with funds that are not needed for daily and family needs and that you have as an extra.

DCA method is especially recommended for inexperienced and new investors who have a reason to be afraid. DCA method is important for them during the learning period with discretionary income. You can continuously accumulate Bitcoin in this method without taking investment risks. With increasing experience in the market, you will increase the amount of Bitcoin buy with large funds. There will be an emergency fund to meet emergency needs when holding Bitcoin for the long term. DCA is the best strategy for inexperienced investors as they are afraid of price volatility. They can continuously accumulate Bitcoin from their financial control.

You are right that the DCA method is especially recommended for inexperienced and new investors, but imagine that now Bitcoin whales or legendary investors are keeping the investment process active in this method more than even new ones. So we cannot compare that DCA is only for newbies.

Indeed the main point of this method is that the "start" of investment is built with a small fixed amount. Therefore it can also be called a learning stage because just as every child learns to walk after crawling in childhood, this method you described is also the same. Actually through this method, one can become a legendary investor from a completely inexperienced stage if Bitcoin is deposited in everyone's portfolio regularly, with discipline and for a long time.

The DCA works for everyone but it is especially advantageous to newbies, someone who been investing in bitcoin long enough will already know how switching investment strategies will affect their investment, they also don't need to switch strategies too, they can just use multiple strategies at once depending on their preference but a newbie switching between or even combining different strategies can be seen as being experimental and can usually derail their focus, it will be better for them to just stick to a strategy that is beginner friendly and there is none better than the DCA in that regards.

You have undoubtedly mentioned the main point that those who are already involved in investment and are regularly buying Bitcoin can use multiple strategies if they wish, but those who are completely new and are in the learning stage should not hesitate to invest by getting involved in multiple strategies at the beginning.

Rather, those new members should apply the investment strategy that is simple and easy for them to master, such as the dollar cost averaging method. In fact, in the initial stage, this can be an experiment, especially for inexperienced investors, and it can even be referred to as a demo investment because there is nothing better than this process to learn from the beginning, so DCA is always recommended for any newbie.

[UpTober]

DCA is not necessarily boring, especially if you ongoingly work on your cashflows and figure out ways to increase your aggressiveness.

There could be some "boring" aspect in terms of not needing to give much if any emphasis to bitcoin prices, so for example, maybe a guy has a plan to try to prioritize bitcoin investing, and even though on average he is investing around $100 per week bitcoin, yet some weeks he is able to invest close to $300 into bitcoin (based on his cashflows that week) and other weeks, he is only able to invest around $40 or $50.. even though he might have had set up some side funds so that no matter what he buys $40 per week, and another thing that he did is to set his buys to happen anywhere between Friday and the following Thursday.  He tends to get paid on Fridays.. and so he will sometimes strategize his buys within the week (at least when he has time, since some weeks he has several activities on his schedule and he might not have time to manually make his weekly buys).. so if he has a plan that if by Thursday at 8pm, he had not made his weekly buy, he will buy at any price at that time, since on Friday, he will have a new paycheck that comes available.

Maybe he had been carrying out his plans for 6 months, and he has been also building his cashflow management, which is another thing that he considers to be interesting about his carrying out of his cashflow management for the purpose of freeing up more discretionary funds, if he is able to figure out some ways to do it.

Yeah, I actually agree with this. DCA isn’t really boring the way people make it sound, especially if you’re actively trying to improve your cashflow. Once you start earning more or just managing your money better, your DCA kind of adjusts on its own. some weeks you can go heavier, other weeks you keep it light, but the key thing is you’re still showing up and stacking consistently.
I also like the flexibility in that approach you highlighted about setting a minimum so you don’t miss your buys, but still allowing yourself to take advantage of weeks when you have extra cash, I think that’s a solid balance. It keeps you disciplined without making the whole thing feel too strict or robotic.
And honestly, that’s where it gets interesting. The strategy itself is simple, but the real work is in how you manage your money behind the scenes. Figuring out how to free up more cash, increase your income, and put more into your investments over time, that’s the real game. That’s what separates someone who is just casually buying Bitcoin from someone who is actually building something meaningful.

Since the investment is long-term, in this long-term plan, the investment amount can often vary depending on the money, that is, some weeks you can buy Bitcoin with a relatively large amount of money, and some weeks you may have to buy Bitcoin with a smaller amount of money due to some financial problems, but I do not think this is a problem, but when a person stops instead of continuing the investment or decides to sell the investment, then it creates a problem. Investing more or less money in some weeks is not a problem, but if an investor cannot accept the normal behavior of the market and panics and sells, then that is a problem because if you sell suddenly, the purpose of long-term investment will never be fulfilled.

Here you have discussed another important point that how we manage money behind the scenes. Money management is very important for investment, if we do not understand the proper management of money, we will not be able to invest even if we earn a relatively large amount of money every month. On the contrary, those who can manage money properly can continue investing continuously even if they earn a relatively small income. 
If we understand proper money management, we will definitely have discretionary income at the end of the month, and if we can keep a backup fund ready along with continuous investment with that discretionary income, then the investment will continue uninterrupted.

[ZeroVinsonN]

The use of DCA strategy is very important for us to consider when it comes to long time approach and we intend to do our investment more conveniently without putting more stress on ourselves at the course, ca is a strategy that permit everyone to invest every month with the stipulated income will end and try to use it to buy the dip, which is on every market fall, then holding until the market rises, which will also give a newbie investors more chance to make profit after investing in Bitcoin because the have the capacity to hold on to the market become profitable to them before selling.

Beginning to generate profit doesn't automatically mean you can start selling, as a bitcoin investor you have a target and that target isn't instant profit, the idea of selling when the market becomes favourable to them is for traders and this is an investment thread, keep the trading ideas and promotion away from here, and investors shouldn't be timing the market for a DIP where they can buy cheap with the plan of selling once the price goes back up, that is also a traders mentality.
Bitcoin investors aren't looking for a quick profit, they already understand that bitcoin isn't a get rich quick scheme but something they have to do long term and they don't just buy with any money but instead investors buy bitcoin solely with their discretionary income using an investment strategy, preferably the DCA which is also what this thread is about.

[Marvelockg]

This is the reason why they said that if we come to investments we should invest the amounts of money that we can able to afford to lose, because a person who is plan to hold for a long period of time will not carry all the money he/she have to invest without any backup like emergency funds as you stated earlier.

That’s why it’s good for every investors to have steady income so that once they invest they won’t be thinking otherwise about the investments or financial insecurity, and because of the unexpected dangers that will come our way during holding; which is why is very important for each an every investors to be vigilant.

I think that what is more important for every bitcoin investor is figuring out his discretionary income or source of his discretionary income, not steady income as you proclaimed, because having a steady income doesn't guarantees anything, since your income may be a bit steady, but you might struggle or unable to figure out your discretionary income to invest with, so having a discretionary income to invest with is the most important thing, not a steady income as you are saying.

If a person has a sincere desire to invest in Bitcoin, then he will be able to invest in Bitcoin with any income. Because that person is holding Bitcoin for the future, it will be better to take the only risk, because if he invests in Bitcoin according to his ability, it will be easier for him to keep it for a long time. Because the investor will invest some money to eliminate financial shortages in the future, it is a discretionary or prudent income, any income will be possible to invest here.
Investing in Bitcoin in the current position will be the best plan, so every responsible person should participate in Bitcoin investment according to his ability, he can create the ability to invest in Bitcoin with any income

Since BTC is volatile and nothing is also guarantee we shouldn't invest in it with just any income saying means that one can use all his money to invest in bitcoin or even using there emergency funds which is wrong, if folks can't figure out any discretionary income they shouldn't invest in BTC unless they have been able to figure out there discretionary income after meeting up the need of other important things you are supposed to settle like those pressing need then any funds that remains is your discretionary income which you can only use to buy bitcoin and hodl.

Instead of using the investing with what remains, why not Plan your income such that you have a reasonable percentage that goes into bitcoin and a reasonable percentage that goes into other key areas of your needs?

Even though investing tend to emphasis so much on investing with what you can afford to loose and investing with your descretionary funds which sometimes tend to paint a narrative that it's only an amount that's small that you should use in investing, proper planning can help you set out a good descretionary income that goes into your investment and helps you easily reach your investment goals. That's why the DCA strategy is a good investment strategy because if You plan it real good, it's going to be a stepping stone that will lead you a better end as an investor.

[Sticky Bomb]

The use of DCA strategy is very important for us to consider when it comes to long time approach and we intend to do our investment more conveniently without putting more stress on ourselves at the course, ca is a strategy that permit everyone to invest every month with the stipulated income will end and try to use it to buy the dip, which is on every market fall, then holding until the market rises, which will also give a newbie investors more chance to make profit after investing in Bitcoin because the have the capacity to hold on to the market become profitable to them before selling.

Beginning to generate profit doesn't automatically mean you can start selling, as a bitcoin investor you have a target and that target isn't instant profit, the idea of selling when the market becomes favourable to them is for traders and this is an investment thread, keep the trading ideas and promotion away from here, and investors shouldn't be timing the market for a DIP where they can buy cheap with the plan of selling once the price goes back up, that is also a traders mentality.
Bitcoin investors aren't looking for a quick profit, they already understand that bitcoin isn't a get rich quick scheme but something they have to do long term and they don't just buy with any money but instead investors buy bitcoin solely with their discretionary income using an investment strategy, preferably the DCA which is also what this thread is about.

One thing I've come to understand is that people tend to bring their greed to their bitcoin investment, they take instant profit just because of their greed and lack of patience and not like they're actually doing anything with the money. Greed and gambling mentality is an enemy to prosperity, they rarely bring long-term success and when investors choose to gamble with their portfolio, they're doing so at the expense of their long-term profitability in bitcoin.

An investor who has enough funds to take care of his expenses and still has discretionary income to invest into bitcoin and save backup funds should discipline himself to remain committed to enlarging his portfolio consistently through DCA and not start thinking of how to prey on his portfolio before maturity. It is only greed that would make such an investor start targeting profit from the same portfolio he should be nurturing and staking the chance of a financial settlement in the future. When greed becomes the style, the investor would end up eating away a possible promising future in bitcoin with his profit-taking attitude since he would most likely end up a low-coiner in the future.

The saying that the choices you make today shapes your future is very obtainable in bitcoin, if the investor decides to keep preying on his portfolio for little profits, in the future he may never be able to live off his portfolio since his practices never really allowed his portfolio to grow properly

[ultrloa]

I think that what is more important for every bitcoin investor is figuring out his discretionary income or source of his discretionary income, not steady income as you proclaimed, because having a steady income doesn't guarantees anything, since your income may be a bit steady, but you might struggle or unable to figure out your discretionary income to invest with, so having a discretionary income to invest with is the most important thing, not a steady income as you are saying.

If a person has a sincere desire to invest in Bitcoin, then he will be able to invest in Bitcoin with any income. Because that person is holding Bitcoin for the future, it will be better to take the only risk, because if he invests in Bitcoin according to his ability, it will be easier for him to keep it for a long time. Because the investor will invest some money to eliminate financial shortages in the future, it is a discretionary or prudent income, any income will be possible to invest here.
Investing in Bitcoin in the current position will be the best plan, so every responsible person should participate in Bitcoin investment according to his ability, he can create the ability to invest in Bitcoin with any income

Since BTC is volatile and nothing is also guarantee we shouldn't invest in it with just any income saying means that one can use all his money to invest in bitcoin or even using there emergency funds which is wrong, if folks can't figure out any discretionary income they shouldn't invest in BTC unless they have been able to figure out there discretionary income after meeting up the need of other important things you are supposed to settle like those pressing need then any funds that remains is your discretionary income which you can only use to buy bitcoin and hodl.

Volatile movement is part of Bitcoin's nature, so with that we should never fund our investment coming from our essential expenses or emergency funds. The best action to do is to basically pay attention first on their needs, then know how much money left as their discretionary income then use that for their Bitcoin investment. That should come on people's mind because this can help them a lot because there's a chance that they would never think about selling their Bitcoins when there's some financial troubles happen to them. Much better that they are prepared and know how to handle well their finances since this will dictate their long term success on their Bitcoin investment.

[Jody.Drummer]

we need to make sure we have enough funds set aside for both investments and other expenses.

To be honest, I'm not trying to say the other part of your comments which I removed are totally wrong but the bold part of your comment seems wrong because it sounds like one must save to invest with the money same money they saved (correct me if I'm wrong here). It also seems like you are trying to say that if one doesn't have a stable income they shouldn't invest yet, which is misleading. Truth is that if you save money before you invest you might end up not investing at all because you will want to save up to a certain amount before you start and you might end up procrastinating in the future (today, tomorrow) and it might take forever before you get started. One is certain that you might definitely miss out some good opportunities from the market.
One thing I'm sure of is that if you are waiting for things to be 100% okay or let's say too perfect (which is always not) you will never learn early, so it's better to start buying Bitcoin with the little money you have on your discretionary income, and same time try to understand your cash flow more and also create opportunity for other side hustle if you have the opportunity to do so.

I guess you don't remember that saving alot of money without investing with it will reduce its worth, because inflation will definitely affect your savings in no distant time. However, I guess only fear can make an investor to save money instead of investing with it but truth be told that inflation will affect it.

Maybe it’s not exactly about saving, but rather about having a reserve fund or an emergency fund first.

I are right but the bold part of your comments seems wrong to me though because if a beginner should wait until they set up money for emergency in other for things to be perfect before they start, they might end up waiting forever because things doesn't just work that way. As an investor what's important is starting immediately so long as you already have a source to provide money for yourself and from the money you are making through your source of income you can actually figure out your discretionary income and then start stacking Bitcoin from your discretionary income. So what I'm trying to say here is that waiting for things to be perfect will eventually delay someone from buying Bitcoin, so they just need to start buying Bitcoin with their spare money which is also known as their discretionary income.

But that doesn’t mean you have to save up first before investing,

This looks more like you are contradicting yourself because from the first bold part of your statement you said this

but rather about having a reserve fund or an emergency fund first

And now you are also saying that beginners shouldn't save before investing in Bitcoin. By the way that's true but your first comment seems very wrong.
From my little knowledge so far I believe that savings, reserve funds and emergency funds are similar because they are just money which will be used during an unexpected financial or none financial challenges (cuz money solves 95% of challenges.

But to start investing, you don’t have to save first,

That's right.

So what I mean is that having an emergency fund is important before starting to inves it can be very helpful, and even if we don’t invest having this emergency fund is still important.

No doubt about the fact that even this someone is not a Bitcoin investor they still need savings. But honestly, let's  think of the fact that everyone is not the same because not everyone has savings, but if they eventually gets interest to invest into Bitcoin and they have a source of income, they should get started immediately and while they are investing they can literally learn the importance of having or let's say saving for an emergency.

Everyone has their own way of making decisions, but the goal is the same to act in their own best interest. Regardless of the approach taken, the first step is to ensure you have a source of income and then plan what to do with that income. However, it’s wise to prepare beforehand before investing meaning, don’t just dive in blindly, because everything involves some level of risk. Most people likely think about the future and the need to prepare for it, and one way to prepare is by saving whenever you have income whether in a bank or elsewhere. Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

[Jostern]

To hold an investment for the long term, we need to have financial security, because the financial situation is not always normal, unexpected dangers can come at any moment, so we need to be careful, and we need to create an emergency fund for financial security. So all in all, as soon as we start investing, we should create a good fund as soon as possible, so that there is no risk on our investment. There may be many obstacles to holding it for the long term, so we need to be careful from all sides, so that our holding is sure.

This is the reason why they said that if we come to investments we should invest the amounts of money that we can able to afford to lose, because a person who is plan to hold for a long period of time will not carry all the money he/she have to invest without any backup like emergency funds as you stated earlier.

That’s why it’s good for every investors to have steady income so that once they invest they won’t be thinking otherwise about the investments or financial insecurity, and because of the unexpected dangers that will come our way during holding; which is why is very important for each an every investors to be vigilant.

What's needed is the discretionary income, it absolutely doesn't have to be steady as long as you can generate discretionary income from it then you are good to go on accumulating bitcoin, most people think they can't generate discretionary income if their income isn't steady, my income isn't a steady one but that doesn't mean I don't get any discretionary income out of it.
What an investor or a potential investor should be looking out for isn't a steady income but one they can generate discretionary income out of.

You’re absolutely correct, what you need and require is the discretionary income, it doesn’t have to be steady like it’s been said on previous occasions, buying and accumulating bitcoin on a consistent level is what we need and requires, you can have a steady income and still end up not having a discretionary income, what is more important as an investor is having a good financial management plans, where you have to estimate your cashflow and also estimate your expenses and bills expenditure that would enable you understand how to manage your finances and also gives you a better opportunity of buying and accumulating bitcoin instead of being stagnant with your accumulation, that can also give and opportunity of increasing our cashflow management capabilities.

[gracreavix]

This is the reason why they said that if we come to investments we should invest the amounts of money that we can able to afford to lose, because a person who is plan to hold for a long period of time will not carry all the money he/she have to invest without any backup like emergency funds as you stated earlier.

That’s why it’s good for every investors to have steady income so that once they invest they won’t be thinking otherwise about the investments or financial insecurity, and because of the unexpected dangers that will come our way during holding; which is why is very important for each an every investors to be vigilant.

I think that what is more important for every bitcoin investor is figuring out his discretionary income or source of his discretionary income, not steady income as you proclaimed, because having a steady income doesn't guarantees anything, since your income may be a bit steady, but you might struggle or unable to figure out your discretionary income to invest with, so having a discretionary income to invest with is the most important thing, not a steady income as you are saying.

If a person has a sincere desire to invest in Bitcoin, then he will be able to invest in Bitcoin with any income. Because that person is holding Bitcoin for the future, it will be better to take the only risk, because if he invests in Bitcoin according to his ability, it will be easier for him to keep it for a long time. Because the investor will invest some money to eliminate financial shortages in the future, it is a discretionary or prudent income, any income will be possible to invest here.
Investing in Bitcoin in the current position will be the best plan, so every responsible person should participate in Bitcoin investment according to his ability, he can create the ability to invest in Bitcoin with any income

Since BTC is volatile and nothing is also guarantee we shouldn't invest in it with just any income saying means that one can use all his money to invest in bitcoin or even using there emergency funds which is wrong, if folks can't figure out any discretionary income they shouldn't invest in BTC unless they have been able to figure out there discretionary income after meeting up the need of other important things you are supposed to settle like those pressing need then any funds that remains is your discretionary income which you can only use to buy bitcoin and hodl.

Exactly. Bitcoin is an investment, not something to throw survival money into. If your rent, food, bills or emergency funds are not settled first, the pressure alone can make you panic sell during volatility.
The best way is to use only discretionary income, so that you can hold calmly without affecting your real life responsibilities.

[Shineup]

I think that what is more important for every bitcoin investor is figuring out his discretionary income or source of his discretionary income, not steady income as you proclaimed, because having a steady income doesn't guarantees anything, since your income may be a bit steady, but you might struggle or unable to figure out your discretionary income to invest with, so having a discretionary income to invest with is the most important thing, not a steady income as you are saying.

If a person has a sincere desire to invest in Bitcoin, then he will be able to invest in Bitcoin with any income. Because that person is holding Bitcoin for the future, it will be better to take the only risk, because if he invests in Bitcoin according to his ability, it will be easier for him to keep it for a long time. Because the investor will invest some money to eliminate financial shortages in the future, it is a discretionary or prudent income, any income will be possible to invest here.
Investing in Bitcoin in the current position will be the best plan, so every responsible person should participate in Bitcoin investment according to his ability, he can create the ability to invest in Bitcoin with any income

Since BTC is volatile and nothing is also guarantee we shouldn't invest in it with just any income saying means that one can use all his money to invest in bitcoin or even using there emergency funds which is wrong, if folks can't figure out any discretionary income they shouldn't invest in BTC unless they have been able to figure out there discretionary income after meeting up the need of other important things you are supposed to settle like those pressing need then any funds that remains is your discretionary income which you can only use to buy bitcoin and hodl.

Volatile movement is part of Bitcoin's nature, so with that we should never fund our investment coming from our essential expenses or emergency funds. The best action to do is to basically pay attention first on their needs, then know how much money left as their discretionary income then use that for their Bitcoin investment. That should come on people's mind because this can help them a lot because there's a chance that they would never think about selling their Bitcoins when there's some financial troubles happen to them. Much better that they are prepared and know how to handle well their finances since this will dictate their long term success on their Bitcoin investment.

The idea of considering or paying attention to essential needs as a precedence before using whatever that is left for bitcoin is highly profound as it's negligence is completely going to be disastrous which will poison your overall life and the Bitcoin investment, profits are not promising to be made in the short term infact things could even go worst while expecting a Short term profits and neglecting your essential needs, putting first our essential needs before Bitcoin investment should be seen as a basic commandments for anyone who intend to be be successful in Bitcoin investment.

[Son Of Blockchain (SOB)]

Exactly. Bitcoin is an investment, not something to throw survival money into. If your rent, food, bills or emergency funds are not settled first, the pressure alone can make you panic sell during volatility.
The best way is to use only discretionary income, so that you can hold calmly without affecting your real life responsibilities.

Not being able to settle financial responsibilities is very threatening so people shouldn't put themselves in a position whereby they'll be challenged in that aspect just because they want to invest in Bitcoin. Investing in Bitcoin should be managed in such a way that it won't make investors suffer financially that's why the discretionary funds is best for investment in it.
 I wonder if those who do that don't think of daily expenses and future emergency situations before using money that's for those for an investment meant for long term. It's almost like a waste of time cause they'll or definitely sell quickly even with the mindset of holding longer which was their initial plan.

[laspol65]

Exactly. Bitcoin is an investment, not something to throw survival money into. If your rent, food, bills or emergency funds are not settled first, the pressure alone can make you panic sell during volatility.
The best way is to use only discretionary income, so that you can hold calmly without affecting your real life responsibilities.

Bitcoin investment is best done over a long period of time, it is easy for every person to follow the DCA method as a strategy. It is possible to invest in Bitcoin on a weekly or monthly basis, because you should invest in Bitcoin with as much money as you earn and the basic needs of the family are left. However, there is no set rule in Bitcoin investment, each person can create an opportunity to invest according to their ability.
And to sustain for a long time, emergency funds and discretionary income are needed, so you can participate in investing in Bitcoin using a part of your income and discretionary income, and it is necessary to follow these strategies to sustain for a long time.

[Hardyrobust]

Everyone has their own way of making decisions, but the goal is the same to act in their own best interest. Regardless of the approach taken, the first step is to ensure you have a source of income and then plan what to do with that income. However, it’s wise to prepare beforehand before investing meaning, don’t just dive in blindly, because everything involves some level of risk. Most people likely think about the future and the need to prepare for it, and one way to prepare is by saving whenever you have income whether in a bank or elsewhere. Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

what kind of preparation does one needs to do as per getting started.?. I don't see any need for any kind of preparation as long as we can be able to figure out if we have discretionary income to invest in bitcoin. Talking about preparation before starting makes it to sound as if bitcoin investment is very difficult to start. Why the procrastination in the name of preparing when we can start accumulating bitcoin using the available discretionary income.

[Sim_card]

Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

I think bitcoin investment is different from other form of investment. Bitcoin investment is similar to saving but the difference is that instead of putting the money in a bank or piling it up as fiat somewhere, you are putting the money in an asset (bitcoin) to preserve the value of your money.

Therefore, if everyone understands savings, they should be able to invest in bitcoin by putting the money into bitcoin. If you want to buy something of big value that you don't have the money to buy at once, you will be saving the extra money from your income whenever, you get paid overtime till it has reached your targeted amount.

See bitcoin as the same valuable property and that buying with DCA consistently and persistently till reach your bitcoin target.

[Shadiq]

Everyone has their own way of making decisions, but the goal is the same to act in their own best interest. Regardless of the approach taken, the first step is to ensure you have a source of income and then plan what to do with that income. However, it’s wise to prepare beforehand before investing meaning, don’t just dive in blindly, because everything involves some level of risk. Most people likely think about the future and the need to prepare for it, and one way to prepare is by saving whenever you have income whether in a bank or elsewhere. Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

Not everyone has the same goals. Each person has different goals. Some people buy Bitcoin to buy a house in the future, while others buy it to buy a car or to enjoy some amount of money during their leisure time by withdrawing profits from Bitcoin. Therefore, each person's investment goals are not the same.

If a person is interested in investing and if he has a source of discretionary income, then the first step is to start investing as soon as possible. After starting investing, a person can learn a lot and continue investing in parallel. Whenever you wait to gain knowledge before starting investing, this will be one of the reasons why your investment goals will be lost.

[Derekfunds]

Everyone has their own way of making decisions, but the goal is the same to act in their own best interest. Regardless of the approach taken, the first step is to ensure you have a source of income and then plan what to do with that income. However, it’s wise to prepare beforehand before investing meaning, don’t just dive in blindly, because everything involves some level of risk. Most people likely think about the future and the need to prepare for it, and one way to prepare is by saving whenever you have income whether in a bank or elsewhere. Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

what kind of preparation does one needs to do as per getting started.?. I don't see any need for any kind of preparation as long as we can be able to figure out if we have discretionary income to invest in bitcoin. Talking about preparation before starting makes it to sound as if bitcoin investment is very difficult to start. Why the procrastination in the name of preparing when we can start accumulating bitcoin using the available discretionary income.

In as much as I would love to say you are right I will also like to inform you that any investment required preparation and the preparation the dude is talking about Bitcoin doesn't mean a serious preparation but it is about sorting out everything necessary to carry out or execute the investment so don't it get wrong. It is not advisable for someone to just jump into something ( investment) without preparation else they will run into serious problem.

[JayJuanGee]

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One thing I've come to understand is that people tend to bring their greed to their bitcoin investment, they take instant profit just because of their greed and lack of patience and not like they're actually doing anything with the money. Greed and gambling mentality is an enemy to prosperity, they rarely bring long-term success and when investors choose to gamble with their portfolio, they're doing so at the expense of their long-term profitability in bitcoin.

An investor who has enough funds to take care of his expenses and still has discretionary income to invest into bitcoin and save backup funds should discipline himself to remain committed to enlarging his portfolio consistently through DCA and not start thinking of how to prey on his portfolio before maturity. It is only greed that would make such an investor start targeting profit from the same portfolio he should be nurturing and staking the chance of a financial settlement in the future. When greed becomes the style, the investor would end up eating away a possible promising future in bitcoin with his profit-taking attitude since he would most likely end up a low-coiner in the future.

The saying that the choices you make today shapes your future is very obtainable in bitcoin, if the investor decides to keep preying on his portfolio for little profits, in the future he may never be able to live off his portfolio since his practices never really allowed his portfolio to grow properly

I think that you are correct @Sticky Bomb that there exists some level of greed and impatience in many of us, if not all of us, and at the same time, I think that it we can create our own ongoing policy and practice that during a specific period of time (perhaps 1 or 2 cycles or more) that we are going to ongoingly and consistently buy bitcoin (perhaps on a weekly basis?), then our own employment of our practice of always buying for a specific period of time will likely make it more difficult for us to justify in our heads that we are going to end up selling rather than buying, since our ongoing practice (and our ongoing reinforcement of such practice) makes it way more difficult for us to deploy some action/behavior that ends up seeming to be the exact opposite of what we both told ourself to do and that we are actually doing every single week, even if we might sometimes modify our weekly buy amounts to be higher or lower, our practice of ongoing and persistent buying forces us into a kind of behavior that becomes less likely to go into the opposite direction.

I am not saying it is easy to consistently buy, yet I am saying that it is likely good for guys to figure out some kind of a practice that involves ongoing buying (perhaps on a weekly basis) in order to reinforce their own prioritization of bitcoin until maybe they start to reach a BTC accumulation level that might start to justify the letting off of persistent and consistent buying.

Of course, there are no guarantees in regards to our ongoing buying of bitcoin actions being rewarded into the future, and so in that regard, there is value in making sure that we are comfortable with our ongoing chosen amounts of bitcoin buys, even if we might also choose to vary our ongoing bitcoin buys on certain weeks or during certain periods of time.

Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

I think bitcoin investment is different from other form of investment. Bitcoin investment is similar to saving but the difference is that instead of putting the money in a bank or piling it up as fiat somewhere, you are putting the money in an asset (bitcoin) to preserve the value of your money.

Therefore, if everyone understands savings, they should be able to invest in bitcoin by putting the money into bitcoin. If you want to buy something of big value that you don't have the money to buy at once, you will be saving the extra money from your income whenever, you get paid overtime till it has reached your targeted amount.

See bitcoin as the same valuable property and that buying with DCA consistently and persistently till reach your bitcoin target.

It may be worth emphasizing that ideas of investing and saving have a lot of overlapping similarities, and historically, (and in some locations) there have been abilities to save in cash and for the cash to either mostly hold its value or to be able to receive interest on the cash (savings) so that the cash would mostly hold its value.

However, in recent times, the dollar and almost all of the other fiat currencies, have degraded so much in their abilities to hold value (largely due to ongoing governmental printing and debasement of the currencies), so many normies have come to a realization that they tend to be disadvantaged by holding onto much if any cash, so they end up tending towards spending their cash rather than saving it, and governments also purposefully engage in their debasement of currencies in order to purposefully try to stimulate the holders of their currency to spend it and to bring value (or the appearance of value) to their economies when the currency is being spent rather than saved.. yet part of the dilemma of a known debasing and devaluing currency contributes towards many normies to seek out places to put their value that will either appreciate in value greater than the debasement of the currency or at least not to lose value as quickly as the currency,

so surely over the years, the holders of assets have tended to benefit way more than the holders of currencies - even though there also may well be ongoing confusion in terms of which assets are the better ones to keep value with concerns about 1) cost of keeping the asset, 2) liquidity of the asset and even 3) how much it appreciates (or does not depreciate) relative to other assets... so in regards to all 3 of the concerns about assets, bitcoin has tended to be amongst the best (if not the best) of assets in which to place and hold value, and there really is no convincing evidence that bitcoin is lessening in its place as a great place to put time, energy and value, even if the upward slope of bitcoin's expected price appreciation curve is likely to not be as steep as it had been in the prior 17-ish years - including that it is likely that the upwards slope of bitcoin's expected price appreciation curve is likely ongoingly becoming less and less and less steep with the passage of time.

Everyone has their own way of making decisions, but the goal is the same to act in their own best interest. Regardless of the approach taken, the first step is to ensure you have a source of income and then plan what to do with that income. However, it’s wise to prepare beforehand before investing meaning, don’t just dive in blindly, because everything involves some level of risk. Most people likely think about the future and the need to prepare for it, and one way to prepare is by saving whenever you have income whether in a bank or elsewhere. Investing, however, is something only those who understand it should do since not everyone is familiar with the world of investing but when it comes to saving it’s highly likely that everyone understands it.

Not everyone has the same goals. Each person has different goals. Some people buy Bitcoin to buy a house in the future, while others buy it to buy a car or to enjoy some amount of money during their leisure time by withdrawing profits from Bitcoin. Therefore, each person's investment goals are not the same.

If you are putting value into bitcoin so that you can merely seek to buy something with your bitcoin, then you are likely trading rather than investing and also not recognizing and/or appreciating a likely ongoing value of bitcoin as a life long investment.

But, hey, do what you like, even dumb shit.

 

If a person is interested in investing and if he has a source of discretionary income, then the first step is to start investing as soon as possible. After starting investing, a person can learn a lot and continue investing in parallel. Whenever you wait to gain knowledge before starting investing, this will be one of the reasons why your investment goals will be lost.

I agree with your points in these two sentences in terms of the value of getting started buying bitcoin as soon as discretionary funds are available, learn along the way, and attempt to build and strengthen cashflow management systems/practices as you go.

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In as much as I would love to say you are right I will also like to inform you that any investment required preparation and the preparation the dude is talking about Bitcoin doesn't mean a serious preparation but it is about sorting out everything necessary to carry out or execute the investment so don't it get wrong. It is not advisable for someone to just jump into something ( investment) without preparation else they will run into serious problem.

I am going to presume that an overwhelming majority of normie adults have common sense, and that common sense should assist them in determining the extent to which they need or don't need further preparation beyond their own status of being at the time that they hear about bitcoin and start to determine whether to get started buying bitcoin.  Accordingly, the only real basic thing that each normie newbie needs in order to get started with bitcoin is a determination that they have a sufficient amount of discretionary funds to get started, whether that is $100 or $10 or some other amount, and surely a person with common sense can determine whether to start and the amount to start, but the mere existence of their ability to determine that they have sufficient discretionary funds  is enough to get started and they can decide for themselves the amount or if they feel that they might have some gaps in their knowledge or their assessment of their finances to delay in starting.. including that once they start, they can also make a tentative determination in regards to their future investment of time, energy and value into bitcoin, including tentatively determining how aggressive or conservative that they might feel that they need to be within the scope of their current discretionary funds and/or any tentative assessment of their future discretionary funds.

In other words, there is no need to patronizingly proclaim that any kind of preparation needs to happen in order for a normie newbies ability to get started  buying bitcoin beyond the normie newbies assessment of whether discretionary funds are available. .other matters related to time, energy, value and/or future preparations/learning can take place as any such normie newbie goes based on their own assessments of what to do or what not to do..

[Obulis]

To hold an investment for the long term, we need to have financial security, because the financial situation is not always normal, unexpected dangers can come at any moment, so we need to be careful, and we need to create an emergency fund for financial security. So all in all, as soon as we start investing, we should create a good fund as soon as possible, so that there is no risk on our investment. There may be many obstacles to holding it for the long term, so we need to be careful from all sides, so that our holding is sure.

This is the reason why they said that if we come to investments we should invest the amounts of money that we can able to afford to lose, because a person who is plan to hold for a long period of time will not carry all the money he/she have to invest without any backup like emergency funds as you stated earlier.

That’s why it’s good for every investors to have steady income so that once they invest they won’t be thinking otherwise about the investments or financial insecurity, and because of the unexpected dangers that will come our way during holding; which is why is very important for each an every investors to be vigilant.

Before steady income or with steady income first thing will have to come first and that's the discipline required to carry on with your investment target, if not even with steady income your Bitcoin goal will be unrealistic/unachievable/impossible. This same discipline is what someone without steady income requires as long as they can make some savings from their unsteady income (hard in some cases but it has been happening and still happening) to keep on their Bitcoin investment, the same discipline is what some people need to do financial analysis thereby cutting expenses to have a better standing doing their investment.

Worthy of note, leaving Bitcoin investment on the benchmark or around the benchmark of having a steady income have deprived people and will continue to deprive people from accumulating Bitcoin. Highly regrettable those of is that was deprived some 10 years ago.

[BluebloodCXVI]

Instead of using the investing with what remains, why not Plan your income such that you have a reasonable percentage that goes into bitcoin and a reasonable percentage that goes into other key areas of your needs?

Even though investing tend to emphasis so much on investing with what you can afford to loose and investing with your descretionary funds which sometimes tend to paint a narrative that it's only an amount that's small that you should use in investing, proper planning can help you set out a good descretionary income that goes into your investment and helps you easily reach your investment goals. That's why the DCA strategy is a good investment strategy because if You plan it real good, it's going to be a stepping stone that will lead you a better end as an investor.

You have a point, what you’re suggesting is a shift in mindset, like instead of waiting to see what’s left, you decide ahead of time what each part of your income is meant for and allocate a reasonable portion into your portfolio right?. Now i think this your idea is only applicable to people who have a fairly predictable source of income, basic level of financial stability and proper understanding of their finances. Don’t get me wrong, I’m not saying you need financial stability to start investing, but according to the suggestion you made about planning your income in a way that you can put in reasonable percentage into your stash, you will definitely need financial stability to pull off such a stunt. I don’t think a person who is struggling to meet their daily needs or that their income is highly unpredictable or irregular can realistically pre-allocate money into bitcoin investing.
My advice is that instead of worrying yourself and over-planning every detail, why not just keep it simple by deciding a comfortable amount that you can invest regularly, adjust only when income changes significantly and keep investing consistently with DCA.