Balancing Financial security and Bitcoin Accumulation

[Silikiem]

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

I don’t know why you people are giving all these unnecessary speeches about researching,when you’re supposed to be focused on if the investor has their discretionary income.Discretionary income is that one important requirement for accumulating bitcoin because it’s the money left after a person has handled their bills. And while investing you can also learn about Bitcoin

It is good to do research before starting to invest. Because even with a lot of knowledge, in some cases you may be weak and you are not aware of things about investing that are very important for long term Bitcoin. It is not the case that you can stay in Bitcoin accumulating only if you have discretionary income. To stay in investment you need strong morale and you need to move away from your unnecessary expenses and focus on increasing the amount of discretionary income. You should not be bothered to listen to the advice of other experienced investors because there are some important elements for long term investment that you may not be aware of. Many important things can be found from the advice of experienced investors.

What you need to getting started with bitcoin investment is just a discretionary income, you don’t need to delay getting started in investing because of research. It’s better to get started immediately if your discretionary income is ready. The research you should probably do is to check if you have the availability of discretionary income within your disposal so you can get started immediately in buying bitcoin and hold for long term goal. I don’t know what else you want to research about, a basic knowledge of bitcoin is enough for someone who’s desirous to invest in bitcoin to get started once his discretionary income is ready and then along the line the individual will be able to learn more things and gain more experience and make important decisions regarding his investment as he’s ongoingly buying bitcoin. If you say you want to wait till you do all the researching it might take you years and  still not be satisfied with your research, so the best thing to do is to get a discretionary income first and start buying bitcoin and hold  so you don’t end up missing out on several buying opportunities or even end up not buying bitcoin at all.

[sotelorene]

In the first place not doing research is a wrong decision already and investing in Bitcoin and trading Bitcoin has never been the same thing.
A trader after losing their resources already has an experience to learn from and the mistake there is getting carried away with quick gains.
An investor after selling on a loss because of selling too quick out of no preparedness for emergencies, that is an experience and a mistake to learn from.

Researching about bitcoin isn't an issue but how long because some people might stay on Google for a year researching about bitcoin and by the time they are satisfy with their research they may not have discretionary income to invest anymore. If they have interest to invest in bitcoin and they are able to figure out they have discretionary income they should invest first,then continue researching. if they keep on researching on google to know all about bitcoin,they won't not invest in bitcoin, they can't learn everything or gain all the knowledge because it infinite.

What someone needs to start their Bitcoin investment is the basic knowledge on how to go about Bitcoin and every other knowledge one seek can be  gotten later while they are accumulating so researching can be consider a waste of time because an investor doesn't really need too much knowledge because Bitcoin investment doesn't demand for that level of knowledge but rather trading does and folks who is interested in digging for more knowledge apparently they are trying learn to start up trading, the techniques to follow but trading is very risky therefore I will always recommend Bitcoin investment.

[Obulis]

People do not need to know everything about bitcoin before getting started.  so talking about sufficient research is same thing as saying that they need to gather as much knowledge as possible before they can start accumulating bitcoin which is wrong. What they need to get started is being able to determine the availability of discretionionary income and at least a basic knowledge of bitcoin and not doing sufficient research.

What does a newbie has to do with sufficient research when all he or she has to be concerned about is the basic knowledge that doesn't need much stress to start his or her investment, sufficient research means gathering much information as they can immediately, do some people ever think that there are information that newbies will be unable to handle which might discourage them at that very starting point, old invetsors do not get hyper when they get hold of any information because the have had some experiences, they are no longer new to system as such they are no longer baby invetsors, in Bitcoin investment, everything is not known from day one that's the reason it is been said that newbies should only consider having the basic knowledge, then get in after identifying their discreationary income which makes the process easy for them to do thwie DCA easily.

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

em
If you cannot list what the basics are, then they are not necessary.

All you need to start is figure out that you have discretionary funds, then you can start.

We can presume that people have common sense, even though they might not be good at practicing it.  Common sense will help to inform them whether to start out with $100, $10 or some other amount.

Another thing.  If someone has common sense, he can figure out what he might need to learn or how much he might need to study, yet he can still get started investing in bitcoin without hardly knowing anything about bitcoin besides for example, glancing at a chart and seeing that number tends to go up, yet it is also volatile.

Provide an example of someone who is lacking a certain kind of knowledge that he needs prior to starting investing in bitcoin.  Many times guys list knowing how to put bitcoin into a private wallet as a basic skill (knowledge) that people need, which is almost totally bullshit, unless a person is planning to source his bitcoin in a way that requires a private wallet, then in those circumstances, he will need to start with a private wallet and maybe a recommendation of which wallet to use... but if he is going to start to buy his bitcoin on an exchange, most exchanges have the basic introductory information on their website, and if he does not trust the exchange, then he either needs to find another exchange or another source for buying coins.  Those are individual decisions, and if he is not ready to get started based on his not knowing how to source, his coins, then he may well have to research his bitcoin sourcing options.

So please tell us what those basics about bitcoin that a newbie needs to know besides knowing that he has discretionary funds or not.

As important as discretionary funds as the major requisite for Bitcoin investment, a newbie might not be fully aware of buying strategies say DCA strategy, volatility and long-term holding. Just like the normal assumption I go about initially and I guess others has had the same assumption of Bitcoin making people to get rich quick of which it's easily attached to getting quick gains aka trading unknowingly, so fully knowing the pros and cons of trading can likewise be part of what a newbie needs to know haven figured out their discretionary funds the major requisite. And then some might also need to know how to source their coins of which knowing about exchange with an introductory info on how to  is a basic learning chance.

[Loyang]

What someone needs to start their Bitcoin investment is the basic knowledge on how to go about Bitcoin and every other knowledge one seek can be  gotten later while they are accumulating so researching can be consider a waste of time because an investor doesn't really need too much knowledge because Bitcoin investment doesn't demand for that level of knowledge but rather trading does and folks who is interested in digging for more knowledge apparently they are trying learn to start up trading, the techniques to follow but trading is very risky therefore I will always recommend Bitcoin investment.

To start investing, we need to know about two things. Whether we have discretionary income or not, and whether we have basic knowledge about Bitcoin. If you have basic knowledge and if you do not have discretionary income, then if you invest from your source of income, then your investment may die prematurely. Just as a person needs basic knowledge about Bitcoin to invest, he also needs discretionary income.

Bitcoin investment doesn't demand for that level of knowledge 

The knowledge of the investor is needed. After starting investing, an investor can take investment and knowledge acquisition in parallel. When a person gains knowledge about investment, he can easily find out what is needed for his investment or what needs to be done to deal with his investment from unexpected financial disasters. So if a person gains knowledge after starting investing, it will be a very good thing for him.

[Cgrexp]

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

I don’t know why you people are giving all these unnecessary speeches about researching,when you’re supposed to be focused on if the investor has their discretionary income.Discretionary income is that one important requirement for accumulating bitcoin because it’s the money left after a person has handled their bills. And while investing you can also learn about Bitcoin

It is good to do research before starting to invest. Because even with a lot of knowledge, in some cases you may be weak and you are not aware of things about investing that are very important for long term Bitcoin. It is not the case that you can stay in Bitcoin accumulating only if you have discretionary income. To stay in investment you need strong morale and you need to move away from your unnecessary expenses and focus on increasing the amount of discretionary income. You should not be bothered to listen to the advice of other experienced investors because there are some important elements for long term investment that you may not be aware of. Many important things can be found from the advice of experienced investors.

What you need to getting started with bitcoin investment is just a discretionary income, you don’t need to delay getting started in investing because of research. It’s better to get started immediately if your discretionary income is ready. The research you should probably do is to check if you have the availability of discretionary income within your disposal so you can get started immediately in buying bitcoin and hold for long term goal. I don’t know what else you want to research about, a basic knowledge of bitcoin is enough for someone who’s desirous to invest in bitcoin to get started once his discretionary income is ready and then along the line the individual will be able to learn more things and gain more experience and make important decisions regarding his investment as he’s ongoingly buying bitcoin. If you say you want to wait till you do all the researching it might take you years and  still not be satisfied with your research, so the best thing to do is to get a discretionary income first and start buying bitcoin and hold  so you don’t end up missing out on several buying opportunities or even end up not buying bitcoin at all.

It is up to the newbies to decide how much and how much they will allocate to their Bitcoin investments. As long as they have a discretionary fund, basic math skills, and some common sense, they can plan properly. DCA (Dollar-Cost Averaging) is one of the most effective methods for beginners where the investment size each week fits your cash flow. For example, some weeks you may not be able to invest $10, while others you may be able to invest more than $10. As a new investor, it can sometimes take time to accumulate your Bitcoin and increase your income. You should try to balance your time, energy, and money with Bitcoin investment and education according to your own circumstances. Even small steps like investing $10 weekly will help them focus on Bitcoin, identify learning needs, and motivate them to find ways to increase their income or reduce their expenses. At the same time, it will help them build a backup fund, so that they can avoid cash shortages in the event of any mistakes, loss of income, or increase in expenses.

[JayJuanGee]

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

I don’t know why you people are giving all these unnecessary speeches about researching,when you’re supposed to be focused on if the investor has their discretionary income.Discretionary income is that one important requirement for accumulating bitcoin because it’s the money left after a person has handled their bills. And while investing you can also learn about Bitcoin

It is good to do research before starting to invest.

What are you going to research?

Because even with a lot of knowledge, in some cases you may be weak and you are not aware of things about investing that are very important for long term Bitcoin.

like what is necessary to know?

It is not the case that you can stay in Bitcoin accumulating only if you have discretionary income.

Yes you can.  If a person figures out that he has discretionary funds, then he can choose whether to invest and how much or he can figure out the extent to which he needs more information.  There is no further information that he has to know about bitcoin before he gets started once he figures out that he has discretionary funds.

If he is not sure from where he is going to get bitcoin, then maybe he has to figure that out.  Yet, maybe he already knows that part.

If you are telling me that he needs to know from where he is going to source his coins, then sure, I understand how that makes sense.  If he passes by a bitcoin ATM machine, and then he notices that it sells bitcoin, then maybe he looks in his pocket to see if he has any money to buy some bitcoin.  If the ATM issues a piece of paper that is one thing, but if he is required to have his own wallet, then he might need to get a wallet.

To stay in investment you need strong morale and you need to move away from your unnecessary expenses and focus on increasing the amount of discretionary income.

Huh?  He needs to take a morale test before he can start to invest in bitcoin?

You should not be bothered to listen to the advice of other experienced investors because there are some important elements for long term investment that you may not be aware of. Many important things can be found from the advice of experienced investors.

He should seek out an experienced investor before getting started?  He cannot start on his own?

By the way, I would consider that there is a little bit of a difference between making the very first purchase, and then making subsequent purchases, yet even subsequent purchases involve figuring out if the newbie investor has discretionary funds or not, so then they are investing from their discretionary funds, and surely at the same time, the more and more that any newbie continues to invest, then I would think that his common sense would help him to realize that he might need to learn more about bitcoin the more that he continues to invest... yet how urgent his need to consider his need to research might depend on the size of his discretionary funds, and so if his discretionary funds are $1k per month, and he is investing $10 per week (which would be about $43.30 per month), then he might not be too worried about it, yet if a whole year had gone by, and he had ended up investing $520 into bitcoin (over 52 weeks) then maybe he might start to get concerned, even though his yearly discretionary income is right around $12k, so he is only investing around 1.73% of his income, so he is not feeling anything too urgent about engaging in further research (investigation), and those are personal choice, even though I would speculate that the more that a person is investing into bitcoin and the longer that they are investing into bitcoin, then the more inspired they would be to research further into the matter.

In the first place not doing research is a wrong decision already and investing in Bitcoin and trading Bitcoin has never been the same thing.
A trader after losing their resources already has an experience to learn from and the mistake there is getting carried away with quick gains.
An investor after selling on a loss because of selling too quick out of no preparedness for emergencies, that is an experience and a mistake to learn from.

Researching about bitcoin isn't an issue but how long because some people might stay on Google for a year researching about bitcoin and by the time they are satisfy with their research they may not have discretionary income to invest anymore. If they have interest to invest in bitcoin and they are able to figure out they have discretionary income they should invest first,then continue researching. if they keep on researching on google to know all about bitcoin,they won't not invest in bitcoin, they can't learn everything or gain all the knowledge because it infinite.

What someone needs to start their Bitcoin investment is the basic knowledge on how to go about Bitcoin and every other knowledge one seek can be  gotten later while they are accumulating so researching can be consider a waste of time because an investor doesn't really need too much knowledge because Bitcoin investment doesn't demand for that level of knowledge but rather trading does and folks who is interested in digging for more knowledge apparently they are trying learn to start up trading, the techniques to follow but trading is very risky therefore I will always recommend Bitcoin investment.

I get your point that trading likely takes more knowledge because presumptively a guy is buying and selling, yet if he merely just buys and then gives himself a target when to sell, then he sells.. so then he might not need very much knowledge to just do one trade like that.

Regarding the basic knowledge of bitcoin, I don't know what that is.. are you referring to something specifically that a newbie needs to know about bitcoin in order to start? Maybe give an example or give some context for this basic knowledge that you are saying a guy needs to invest in bitcoin? and why he needs such basic knowledge before getting started?

[edited out]

As important as discretionary funds as the major requisite for Bitcoin investment, a newbie might not be fully aware of buying strategies say DCA strategy, volatility and long-term holding.

Why does he need to know the different buying strategies in advance? He has some money in his pocket and maybe he will buy and maybe not, yet you are going to tell him that he needs to know about the various buying strategies first?

and what specifically does he need to know about volatility?  He can glance at a chart and see that the BTC price goes up, down and sideways.. What does he need to know about that?  You mean he should look at a chart before starting?

And, does he need to commit to long term before he starts?  I understand that if he is buying bitcoin for less than 4 years, then he is likely trading rather than investing, but does he need to know that before he gets started?  Does he need to know the difference between trading and investing before getting started?

Just like the normal assumption I go about initially and I guess others has had the same assumption of Bitcoin making people to get rich quick of which it's easily attached to getting quick gains aka trading unknowingly, so fully knowing the pros and cons of trading can likewise be part of what a newbie needs to know haven figured out their discretionary funds the major requisite.

Where is he going to go in order to learn the differences between investing and trading?  Are you telling me that this newbie is coming to bitcoin without any knowledge of anything?  I would presume that most people coming to bitcoin has a context for how they heard about bitcoin, so maybe some of them are coming to bitcoin with good information, and others are coming to bitcoin with bad information, so they have to learn about the difference between buying and trading before they start?  Sure if someone tells me that they want to invest in bitcoin, then they tell me that they are planning to sell in less than 4 years, then I would question their understanding of the term investing, yet are we going to presume that they don't already know?  What they know may well depend upon how they heard about bitcoin, so they may or may not be starting with bad information, but can we presume that they don't know? 

I will grant you that there are a lot of people who don't know the difference between investing and trading, but it seems a bit presumptuous for any of us to proclaim that they have to know the difference between investing and trading before they get started.  I am going to presume that most newbies are adults with common sense, especially if they have determined that they have discretionary funds, so they should be able to figure out why they are in bitcoin, and when they put money into bitcoin what they are trying to achieve with that. Sure some of them, might not know and they merely go for trying to get dollars out of it, yet when they put money into bitcoin, they should be inspired to learn about what they are buying and why, even though they don't necessarily need to know the answers prior to getting started, especially if they have figured out that they have discretionary funds and they have common sense.

And then some might also need to know how to source their coins of which knowing about exchange with an introductory info on how to  is a basic learning chance.

Sure.  They need to know how they are going to source their coins, in the event that they don't already know.. So then how long will that take for them to figure it out? Do we have a context to make some recommendation without knowing where they are at?  I am not opposed to the idea that they need to figure out from where they are going to get their coins before they can start, since we do not necessarily have a context in regards to their having a source for their coins, so there is nothing wrong with adding that they need to know from where they are going to source their coins before they can start... Is there anything they further need to know about that, from your point of view?  Or can they exercise their common sense based on how much they are going to start to put in, whether they start with $100, $10 or some other amount?

What someone needs to start their Bitcoin investment is the basic knowledge on how to go about Bitcoin and every other knowledge one seek can be  gotten later while they are accumulating so researching can be consider a waste of time because an investor doesn't really need too much knowledge because Bitcoin investment doesn't demand for that level of knowledge but rather trading does and folks who is interested in digging for more knowledge apparently they are trying learn to start up trading, the techniques to follow but trading is very risky therefore I will always recommend Bitcoin investment.

To start investing, we need to know about two things. Whether we have discretionary income or not, and whether we have basic knowledge about Bitcoin. If you have basic knowledge and if you do not have discretionary income, then if you invest from your source of income, then your investment may die prematurely. Just as a person needs basic knowledge about Bitcoin to invest, he also needs discretionary income.

What is this "basic knowledge about bitcoin that we supposedly need before getting started?

Bitcoin investment doesn't demand for that level of knowledge 

The knowledge of the investor is needed. After starting investing, an investor can take investment and knowledge acquisition in parallel. When a person gains knowledge about investment, he can easily find out what is needed for his investment or what needs to be done to deal with his investment from unexpected financial disasters. So if a person gains knowledge after starting investing, it will be a very good thing for him.
[/quote]

Sure.  Of course, it would seem like a good idea to learn about the thing that you are buying, yet I would imagine the urgency regarding how much to learn or how fast to learn might relate to how much they are buying relative to their income (and/or their discretionary funds).  It would seem that the more that they are buying, then the more inspired they would be to learn more and to learn faster.

[Obulis]

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

I don’t know why you people are giving all these unnecessary speeches about researching,when you’re supposed to be focused on if the investor has their discretionary income.Discretionary income is that one important requirement for accumulating bitcoin because it’s the money left after a person has handled their bills. And while investing you can also learn about Bitcoin

It is good to do research before starting to invest.

What are you going to research?

In the first place not doing research is a wrong decision already and investing in Bitcoin and trading Bitcoin has never been the same thing.
A trader after losing their resources already has an experience to learn from and the mistake there is getting carried away with quick gains.
An investor after selling on a loss because of selling too quick out of no preparedness for emergencies, that is an experience and a mistake to learn from.

Researching about bitcoin isn't an issue but how long because some people might stay on Google for a year researching about bitcoin and by the time they are satisfy with their research they may not have discretionary income to invest anymore. If they have interest to invest in bitcoin and they are able to figure out they have discretionary income they should invest first,then continue researching. if they keep on researching on google to know all about bitcoin,they won't not invest in bitcoin, they can't learn everything or gain all the knowledge because it infinite.

What someone needs to start their Bitcoin investment is the basic knowledge on how to go about Bitcoin and every other knowledge one seek can be  gotten later while they are accumulating so researching can be consider a waste of time because an investor doesn't really need too much knowledge because Bitcoin investment doesn't demand for that level of knowledge but rather trading does and folks who is interested in digging for more knowledge apparently they are trying learn to start up trading, the techniques to follow but trading is very risky therefore I will always recommend Bitcoin investment.

I get your point that trading likely takes more knowledge because presumptively a guy is buying and selling, yet if he merely just buys and then gives himself a target when to sell, then he sells.. so then he might not need very much knowledge to just do one trade like that.

Regarding the basic knowledge of bitcoin, I don't know what that is.. are you referring to something specifically that a newbie needs to know about bitcoin in order to start? Maybe give an example or give some context for this basic knowledge that you are saying a guy needs to invest in bitcoin? and why he needs such basic knowledge before getting started?

[edited out]

As important as discretionary funds as the major requisite for Bitcoin investment, a newbie might not be fully aware of buying strategies say DCA strategy, volatility and long-term holding.

Why does he need to know the different buying strategies in advance? He has some money in his pocket and maybe he will buy and maybe not, yet you are going to tell him that he needs to know about the various buying strategies first?

and what specifically does he need to know about volatility?  He can glance at a chart and see that the BTC price goes up, down and sideways.. What does he need to know about that?  You mean he should look at a chart before starting?

And, does he need to commit to long term before he starts?  I understand that if he is buying bitcoin for less than 4 years, then he is likely trading rather than investing, but does he need to know that before he gets started?  Does he need to know the difference between trading and investing before getting started?

Obviously people are of different level of awareness when it comes to Bitcoin. Some only know that Bitcoin can make someone rich, the knowledge of Bitcoin not being guaranteed is not even part of what some people knows. All they know is just putting money into Bitcoin and definitely have your money increased over some period of time and a decade or half isn't part of this time and they're not even aware of the use of discretionary funds to think of backing up their investment with emergency funds. some people here (BTC talk forum) knew little (negligible things) or nothing about Bitcoin before coming here.
Without thinking twice, some new people actually needs more information about Bitcoin than others and that makes a difference

[Silikiem]

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

I don’t know why you people are giving all these unnecessary speeches about researching,when you’re supposed to be focused on if the investor has their discretionary income.Discretionary income is that one important requirement for accumulating bitcoin because it’s the money left after a person has handled their bills. And while investing you can also learn about Bitcoin

It is good to do research before starting to invest.

What are you going to research?

In the first place not doing research is a wrong decision already and investing in Bitcoin and trading Bitcoin has never been the same thing.
A trader after losing their resources already has an experience to learn from and the mistake there is getting carried away with quick gains.
An investor after selling on a loss because of selling too quick out of no preparedness for emergencies, that is an experience and a mistake to learn from.

Researching about bitcoin isn't an issue but how long because some people might stay on Google for a year researching about bitcoin and by the time they are satisfy with their research they may not have discretionary income to invest anymore. If they have interest to invest in bitcoin and they are able to figure out they have discretionary income they should invest first,then continue researching. if they keep on researching on google to know all about bitcoin,they won't not invest in bitcoin, they can't learn everything or gain all the knowledge because it infinite.

What someone needs to start their Bitcoin investment is the basic knowledge on how to go about Bitcoin and every other knowledge one seek can be  gotten later while they are accumulating so researching can be consider a waste of time because an investor doesn't really need too much knowledge because Bitcoin investment doesn't demand for that level of knowledge but rather trading does and folks who is interested in digging for more knowledge apparently they are trying learn to start up trading, the techniques to follow but trading is very risky therefore I will always recommend Bitcoin investment.

I get your point that trading likely takes more knowledge because presumptively a guy is buying and selling, yet if he merely just buys and then gives himself a target when to sell, then he sells.. so then he might not need very much knowledge to just do one trade like that.

Regarding the basic knowledge of bitcoin, I don't know what that is.. are you referring to something specifically that a newbie needs to know about bitcoin in order to start? Maybe give an example or give some context for this basic knowledge that you are saying a guy needs to invest in bitcoin? and why he needs such basic knowledge before getting started?

[edited out]

As important as discretionary funds as the major requisite for Bitcoin investment, a newbie might not be fully aware of buying strategies say DCA strategy, volatility and long-term holding.

Why does he need to know the different buying strategies in advance? He has some money in his pocket and maybe he will buy and maybe not, yet you are going to tell him that he needs to know about the various buying strategies first?

and what specifically does he need to know about volatility?  He can glance at a chart and see that the BTC price goes up, down and sideways.. What does he need to know about that?  You mean he should look at a chart before starting?

And, does he need to commit to long term before he starts?  I understand that if he is buying bitcoin for less than 4 years, then he is likely trading rather than investing, but does he need to know that before he gets started?  Does he need to know the difference between trading and investing before getting started?

Obviously people are of different level of awareness when it comes to Bitcoin. Some only know that Bitcoin can make someone rich, the knowledge of Bitcoin not being guaranteed is not even part of what some people knows. All they know is just putting money into Bitcoin and definitely have your money increased over some period of time and a decade or half isn't part of this time and they're not even aware of the use of discretionary funds to think of backing up their investment with emergency funds. some people here (BTC talk forum) knew little (negligible things) or nothing about Bitcoin before coming here.
Without thinking twice, some new people actually needs more information about Bitcoin than others and that makes a difference

For beginners who wants to start getting to investing In bitcoin the only information they need now is to know if they have a discretionary income to start with. Any other piece of information can be gotten as time goes on. Since most of them already have that basic knowledge that they will have to put money into bitcoin and definitely have their money increased in value over holding for for long period of time is enough basic knowledge gained for them to start the investment immediately if the money is ready with them. They don’t need to delay starting to buy the bitcoin simply because they wanted more knowledge as the knowledge can even come naturally to them as they start buying bitcoin.

[JayJuanGee]

Why does he need to know the different buying strategies in advance? He has some money in his pocket and maybe he will buy and maybe not, yet you are going to tell him that he needs to know about the various buying strategies first?
and what specifically does he need to know about volatility?  He can glance at a chart and see that the BTC price goes up, down and sideways.. What does he need to know about that?  You mean he should look at a chart before starting?

And, does he need to commit to long term before he starts?  I understand that if he is buying bitcoin for less than 4 years, then he is likely trading rather than investing, but does he need to know that before he gets started?  Does he need to know the difference between trading and investing before getting started?

Obviously people are of different level of awareness when it comes to Bitcoin. Some only know that Bitcoin can make someone rich, the knowledge of Bitcoin not being guaranteed is not even part of what some people knows. All they know is just putting money into Bitcoin and definitely have your money increased over some period of time and a decade or half isn't part of this time and they're not even aware of the use of discretionary funds to think of backing up their investment with emergency funds. some people here (BTC talk forum) knew little (negligible things) or nothing about Bitcoin before coming here.
Without thinking twice, some new people actually needs more information about Bitcoin than others and that makes a difference

I still don't understand your point.  If they are able to calculate that they have discretionary funds, then they can get started.  Sure they may well be advantaged by using varius techniques and learning about the various techniques, yet your attempts at describing knowledge that they need in advance comes off as presumptive and even patronizing.

As long as they have common sense, they should be able to figure out what they need or they don't need, so for example if they are not very good at math, then they might want to spend a bit more time figuring out the extent to which they have discretionary income.

Most people will have a ballpark idea about whether they have an extra $100, $10 or some other amount that they could use for whatever reason that they want, and if they aren't sure then they might error on the side of either reducing the amount or going through some calculations in regards to how much they have available at any particular time.

It seems to me that whatever knowledge you are suggesting that they need, they can build that up after they had already started.  If the guy has a $15k per year income (which would be $1,250 per month), and if his monthly basic expenses are $750, then that means that he has $500 left that is discretionary money... so sure, even if he does not have any money saved, he should be able to figure out whether he is able to use any of that $500 to get started buying bitcoin...

He could start with $50 or $25 or some other amount and then go from there in regards to figuring out if he wants to continue to buy on a weekly basis or if he needs to sort out some other matters, since if he does not have any other back up funds, then whatever amount he puts into bitcoin, he might want to put in his back up funds and start to grow them at the same time... but he does not need to know these things in advance.. He can use common sense to figure it out, whether it takes him a few hours or maybe a day or so, yet even if he get started with $50 into his back up funds and $50 into bitcoin, it is not going to kill him  to have had started out, and he can tweak his plan later.. or even stop buying if he determines that he had made a mistake.

I don't see why you are considering he needs more than discretionary funds and common sense to get started.

[edited out]

For beginners who wants to start getting to investing In bitcoin the only information they need now is to know if they have a discretionary income to start with. Any other piece of information can be gotten as time goes on. Since most of them already have that basic knowledge that they will have to put money into bitcoin and definitely have their money increased in value over holding for for long period of time is enough basic knowledge gained for them to start the investment immediately if the money is ready with them. They don’t need to delay starting to buy the bitcoin simply because they wanted more knowledge as the knowledge can even come naturally to them as they start buying bitcoin.

There is no guarantee that bitcoin will go up in value, even in the long term.

[Umulala-alala]

I think research is of different intensity and that clearly explains what a research means for someone new to Bitcoin. In another word, "a newbie who fails to gather basic knowledge of Bitcoin can make a wrong decision", the basics in this case is the research they actually needs to do not necessarily gathering the whole Google or wikipedia.

I don’t know why you people are giving all these unnecessary speeches about researching,when you’re supposed to be focused on if the investor has their discretionary income.Discretionary income is that one important requirement for accumulating bitcoin because it’s the money left after a person has handled their bills. And while investing you can also learn about Bitcoin

It is good to do research before starting to invest. Because even with a lot of knowledge, in some cases you may be weak and you are not aware of things about investing that are very important for long term Bitcoin. It is not the case that you can stay in Bitcoin accumulating only if you have discretionary income. To stay in investment you need strong morale and you need to move away from your unnecessary expenses and focus on increasing the amount of discretionary income. You should not be bothered to listen to the advice of other experienced investors because there are some important elements for long term investment that you may not be aware of. Many important things can be found from the advice of experienced investors.

You don't need those researches before you can start buying BTC if you already know that you are buying a volatile asset your research should only be on your discretionary income if you cheek that you have a left over income after you have settled other of your important needs you can get started immediately with your bitcoin accumulation while other things that you wish to know can be figure out along the way when you have started buying BTC already with your discretionary income using the dca strategy and hodl for long, bitcoin investment doesn't require you to know much before you can get started what you just needed is your discretionary income to kick off with out delay.

[Nightwatchmare]

Obviously people are of different level of awareness when it comes to Bitcoin. Some only know that Bitcoin can make someone rich, the knowledge of Bitcoin not being guaranteed is not even part of what some people knows. All they know is just putting money into Bitcoin and definitely have your money increased over some period of time and a decade or half isn't part of this time and they're not even aware of the use of discretionary funds to think of backing up their investment with emergency funds. some people here (BTC talk forum) knew little (negligible things) or nothing about Bitcoin before coming here.
Without thinking twice, some new people actually needs more information about Bitcoin than others and that makes a difference

No one said carrying out research about Bitcoin is bad, and if you want to carry out research about Bitcoin no one will stop you, but what people are against is that, you should not allow carrying out research about Bitcoin delay you from investing in Bitcoin when you have the necessary fund to start accumulating Bitcoin ASAP, and you do not need Bitcoin knowledge to figure out that you should use discretionary income in accumulating Bitcoin since Bitcoin is a long term investment, common sense should tell you that money for your day-to-day expenses is not suitable for Bitcoin investment because you will end up selling off your Bitcoin when you run out of money to take of your day-to-day expenses.

[Loyang]

You don't need those researches before you can start buying BTC if you already know that you are buying a volatile asset your research should only be on your discretionary income if you cheek that you have a left over income after you have settled other of your important needs you can get started immediately with your bitcoin accumulation while other things that you wish to know can be figure out along the way when you have started buying BTC already with your discretionary income using the dca strategy and hodl for long, bitcoin investment doesn't require you to know much before you can get started what you just needed is your discretionary income to kick off with out delay.

Your comment seems very misleading to me. The biggest reason for this is that a person who has started investing with basic knowledge. Why would he acquire basic knowledge again? When a person has started investing and has held on for a long time, why would he acquire basic knowledge again. After a person starts investing, he should acquire more knowledge along with investing. Because when a person gains knowledge, he will understand which strategy will be better for his portfolio. Whenever a person wants to take his investment to his goal by relying only on basic knowledge, he may face a lot of risks, to deal with which risks he may have to sell the investment. But when he gains knowledge, he can prepare for whatever is needed to deal with a possible financial crisis in advance.

[Emjay24]

What is this "basic knowledge about bitcoin that we supposedly need before getting started?

I believe basic knowledge is only about two things, identifying that you've discretionary income present and knowing where you would get your coins from. This is enough to buy your first bitcoin, in subsequent purchases you might have the inclination to keep learning about other things, including having an accumulation target, a long-term holding plan, bitcoin volatility and other security and cashflow management practices e.t.c.

They key is always to get started, when you have started, continuity is more obtainable than when you keep waiting to gather vast knowledge of bitcoin before even purchasing your first bitcoin.

[liasbaa]

You don't need those researches before you can start buying BTC if you already know that you are buying a volatile asset your research should only be on your discretionary income if you cheek that you have a left over income after you have settled other of your important needs you can get started immediately with your bitcoin accumulation while other things that you wish to know can be figure out along the way when you have started buying BTC already with your discretionary income using the dca strategy and hodl for long, bitcoin investment doesn't require you to know much before you can get started what you just needed is your discretionary income to kick off with out delay.

I agree with most of your points. I disagree with the point you made that you don't need to do research before buying Bitcoin. Whether you are buying Bitcoin or accumulation for the long term, you need to know where you are investing at least open the window of basic knowledge. Initially you will know that Bitcoin is a risky asset and also a potential asset and it is very important to have a secure wallet to protect it.

Using discretionary income to accumulate Bitcoin and the DCA method is an important strategy to keep you consistent in your investments.

[Nightwatchmare]

What is this "basic knowledge about bitcoin that we supposedly need before getting started?

I believe basic knowledge is only about two things, identifying that you've discretionary income present and knowing where you would get your coins from. This is enough to buy your first bitcoin, in subsequent purchases you might have the inclination to keep learning about other things, including having an accumulation target, a long-term holding plan, bitcoin volatility and other security and cashflow management practices e.t.c.

They key is always to get started, when you have started, continuity is more obtainable than when you keep waiting to gather vast knowledge of bitcoin before even purchasing your first bitcoin.

Identifying you have discretionary income is not a basic about Bitcoin because it has nothing to do with Bitcoin knowledge. Discretionary income is about your financial life, and it is your obligation to know if you have discretionary income or not. I think the basic knowledge some investors are stressing out a newbie is supposed to gain before investing in Bitcoin is just knowing that Bitcoin is a decentralized payment system, and it is volatile in nature. Whether newbies get Bitcoin basic knowledge or not, the most important thing is to start Bitcoin investment is having discretionary income, so newbies should get started with Bitcoin investment first, and they can learn anything they want to know about Bitcoin as they are accumulating Bitcoin.

[DubemIfedigbo001]

What is this "basic knowledge about bitcoin that we supposedly need before getting started?

I believe basic knowledge is only about two things, identifying that you've discretionary income present and knowing where you would get your coins from. This is enough to buy your first bitcoin, in subsequent purchases you might have the inclination to keep learning about other things, including having an accumulation target, a long-term holding plan, bitcoin volatility and other security and cashflow management practices e.t.c.

They key is always to get started, when you have started, continuity is more obtainable than when you keep waiting to gather vast knowledge of bitcoin before even purchasing your first bitcoin.

Identifying you have discretionary income is not a basic about Bitcoin because it has nothing to do with Bitcoin knowledge. Discretionary income is about your financial life, and it is your obligation to know if you have discretionary income or not. I think the basic knowledge some investors are stressing out a newbie is supposed to gain before investing in Bitcoin is just knowing that Bitcoin is a decentralized payment system, and it is volatile in nature. Whether newbies get Bitcoin basic knowledge or not, the most important thing is to start Bitcoin investment is having discretionary income, so newbies should get started with Bitcoin investment first, and they can learn anything they want to know about Bitcoin as they are accumulating Bitcoin.

Is being able to identify if you've discretionary income not a very basic prior to start investing in bitcoin?
If it is, why are you discrediting it as a basic knowledge an investor should to gain prior to buying your first bitcoin?

Identifying discretionary funds are very important to get started and if an investor cannot yet own up to being able to identify it, then such a person should not invest into bitcoin since such investment will not be sustainable.
Sometimes excessive allocation to wants in expenses spending buries discretionary funds and ASAP a person learns to prioritize mostly needs when attending to their expenses, they often immediately identify the presence of discretionary income which they can use to buy their first bitcoin and this should be categorized as a basic knowledge.

[Cgrexp]

What is this "basic knowledge about bitcoin that we supposedly need before getting started?

I believe basic knowledge is only about two things, identifying that you've discretionary income present and knowing where you would get your coins from. This is enough to buy your first bitcoin, in subsequent purchases you might have the inclination to keep learning about other things, including having an accumulation target, a long-term holding plan, bitcoin volatility and other security and cashflow management practices e.t.c.

They key is always to get started, when you have started, continuity is more obtainable than when you keep waiting to gather vast knowledge of bitcoin before even purchasing your first bitcoin.

Identifying you have discretionary income is not a basic about Bitcoin because it has nothing to do with Bitcoin knowledge. Discretionary income is about your financial life, and it is your obligation to know if you have discretionary income or not. I think the basic knowledge some investors are stressing out a newbie is supposed to gain before investing in Bitcoin is just knowing that Bitcoin is a decentralized payment system, and it is volatile in nature. Whether newbies get Bitcoin basic knowledge or not, the most important thing is to start Bitcoin investment is having discretionary income, so newbies should get started with Bitcoin investment first, and they can learn anything they want to know about Bitcoin as they are accumulating Bitcoin.

Discretionary income is used for investing, savings or discretionary spending. Of course, sometimes there can be concerns about whether discretionary income is sufficient to invest in Bitcoin, so the amount needed depends on how much a person can prioritize one category over another and perhaps how organized they are with their own spending. We often say that just having discretionary funds is all it takes to start investing in Bitcoin and the amount doesn’t need to be huge. However, we also know that if a person is investing in Bitcoin for 4-10 years or more. Then they need to stay invested in Bitcoin and keep Bitcoin as a priority. It is certainly up to each individual to determine how much priority they should give to Bitcoin investing. And to ensure that they are consistent in prioritizing Bitcoin investing within their discretionary funds.

[I_Anime]

You don't need those researches before you can start buying BTC if you already know that you are buying a volatile asset your research should only be on your discretionary income if you cheek that you have a left over income after you have settled other of your important needs you can get started immediately with your bitcoin accumulation while other things that you wish to know can be figure out along the way when you have started buying BTC already with your discretionary income using the dca strategy and hodl for long, bitcoin investment doesn't require you to know much before you can get started what you just needed is your discretionary income to kick off with out delay.

I agree with most of your points. I disagree with the point you made that you don't need to do research before buying Bitcoin. Whether you are buying Bitcoin or accumulation for the long term, you need to know where you are investing at least open the window of basic knowledge. Initially you will know that Bitcoin is a risky asset and also a potential asset and it is very important to have a secure wallet to protect it.

Using discretionary income to accumulate Bitcoin and the DCA method is an important strategy to keep you consistent in your investments.

The only reason you wouldn’t need to do any further research before investing in Bitcoin is if you have already participated in most threads about Bitcoin investment on this forum.  because what else do you want to know again , is it the technical aspect? (Which is quite not necessary when come to investing in bitcoin ). Just like how most users usually say here all you need is just the basic knowledge and you are good to go .

[JayJuanGee]

You don't need those researches before you can start buying BTC if you already know that you are buying a volatile asset your research should only be on your discretionary income if you cheek that you have a left over income after you have settled other of your important needs you can get started immediately with your bitcoin accumulation while other things that you wish to know can be figure out along the way when you have started buying BTC already with your discretionary income using the dca strategy and hodl for long, bitcoin investment doesn't require you to know much before you can get started what you just needed is your discretionary income to kick off with out delay.

Your comment seems very misleading to me. The biggest reason for this is that a person who has started investing with basic knowledge. Why would he acquire basic knowledge again?

Bitcoin is likely a life long learning project, which might be one of the disadvantages in getting involved in it - yet at the same time, in order to get started, you can start from various places and also absolutely no knowledge.  I doubt that any person with common sense is going to be betting BIG into bitcoin if they know absolutely nothing about it, and if you have common sense, you likely are not going to become aggressive with bitcoin or even consider bitcoin as a priority until you have more than some superficial perspective that you might have had at that time that you got started.

I think that people who do not look further into bitcoin after they got started are setting themselves up for failure, yet learning about bitcoin is also less important than making sure that you are not overly investing in terms of your discretionary funds that are available and projected into the future.

Guys are also retarded if they think that they do not need to learn about bitcoin, merely because they don't need to have any significant information about it in order to get started, and I would think that guys would be inspired to look more into bitcoin and learn about it the more that they invest into it, and sure if they are only investing $10 per month, then maybe they are less inspired to look into it, as compared with if they are investing $100 or more per week... and yeah, when folks are sloppy, then they are likely taking unnecessary risk, and perhaps they will soon be separated from their investment.

When a person has started investing and has held on for a long time, why would he acquire basic knowledge again.
 

You seem to be arguing for the mere sake of arguing since guys should be figuring out what areas they need to study, and if they are not sure, they might need to study into what areas they need to study.  Sometimes guys don't know things, and other times the more dangerous times are likely when guys think that they know more than they know.

Sure, a guy could say to himself:  I know enough for now, and for my level of investment.

But then if he continues to invest, he might need to learn more to justify increasing his investment, yet if he is investing a relatively small amount and going about his bitcoin investment in a whimpy way, then he might not be inspired or even need to research more into the matter... level of whimpiness and level of aggressiveness are choices, and they likely deserve some reflection for each of us to consider how whimpy or how aggressive we would like to be with our bitcoin investment, and surely we are likely on much more solid ground if we thought through the matter, even though surely some guys end up making mistakes in regards to their chosen level of aggressiveness in their bitcoin investment, yet they might not realize their mistake until 10 years later, and then they cannot go back in time, they can only change their action from the time that they realize that they have a need to change their action.
 

After a person starts investing, he should acquire more knowledge along with investing. Because when a person gains knowledge, he will understand which strategy will be better for his portfolio. Whenever a person wants to take his investment to his goal by relying only on basic knowledge, he may face a lot of risks, to deal with which risks he may have to sell the investment. But when he gains knowledge, he can prepare for whatever is needed to deal with a possible financial crisis in advance.

Of course, you seem to understand the concept of learning, but you want to quibble over the definition of "basic knowledge" which seems a bit counter-productive in terms of  trying to exchange reasonable ideas - even though we are talking about choices that people make in regards to how much they need to learn and/or what they feel that they need to learn..