Investment Become Gambling

[JayJuanGee]

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

You cannot presume how long it is going to take people to learn things, and you cannot even presume that guys are able to figure out their discretionary funds.

Yet if guys are able to figure out their discretionary funds, they are quite likely capable to get started.

Part of the problem of proclaiming "basic knowledge" is to assert what you believe guys already know, what they need to know and how much time it is going to take for them to learn it, and the fact of the matter, is that if guys have common sense, then they should be able to figure out what they know or they do not know beyond figuring out their discretionary funds and if they are comfortable to get started buying bitcoin.

If the guy is having trouble figuring out from where he is going to source his bitcoin purchases, and/or he is not comfortable with how he is buying bitcoin, then how is he going to get started?  It is up to him to figure out if he is comfortable with his sourcing or not.  I am not trying to give excuses for guys not to start buying bitcoin, since getting started buying bitcoin is important, yet guys still have to figure out those things for themselves, even  if they have discretionary funds to get started.

Frequently guys can still get started and to be a bit uncomfortable and to just adjust his starting out position size down to a small enough amount so that he can at least get started, yet those still end up being personal calls, and we cannot tell someone else the extent that he should be comfortable enough or not in order to get started or that "it should only take an hour to figure it out."

Even with figuring out discretionary funds.  There will be some guys who know their budget well, and other guys who are not sure about their discretionary funds, yet a guy who knows that he has $1k or $2k in the bank as back up funds, then he may well be able to fairly easily figure out if he has $100, $10 or some other quantity of discretionary funds that are available that he could get started buying bitcoin, yet he still might not want to get started if he is not comfortable with the sources of locations that he might be considering buying bitcoin - even if he knows that he has a sufficient amount of discretionary funds available.

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

Even if it doesn't take a long or difficult process to know the basics, most people can understand the importance of bitcoin in a sort period of time. Although, I don’t think the only thing a beginner needs to figure out is there discretionary income. As I have said previously Said,beginners should also understand why bitcoin exist and the rest i said before.
Once those fundamental are clear, they don't need to wait until they become experts before buying. They can start with a small amount, continue learning while they invest, and gradually build both their knowledge and their position. That's a much better approach than either rushing in blindly or waiting forever to know everything.

Huh?  You think that a beginner needs to know why bitcoin exists in order to get started?  You seem to be adding a requirement, and sure, if a newbie determines that he is not going to start buying bitcoin until he figures out "why bitcoin exists," then that is up to him to create that requirement for himself, yet I doubt that objectively it is a requirement that everyone who starts to invest in bitcoin has to know "why bitcoin exists" in order to get started buying bitcoin.

You said that earlier you had mentioned some other basics besides knowing that he has discretionary funds that a newbie needs to know before starting to buy bitcoin?  What are those supposed "basics" that you believe newbies need to know in order to get started buying bitcoin?

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

Addition to what you have said, after Discovery of their discretionary funds the next to do is to get the appropriate strategy which is DCA method that they can use in accumulating Bitcoin little by little without any obstacles, either weekly or monthly just continue buying because that is the chances of you getting more Bitcoin in your wallet, it require a lot of consistency when using this method, you don't have to forget about your emergency funds also, building it together with your investment is actually the best way to go so that there will not be any challenges in the process.

You think that a guy has to figure out a bitcoin buying strategy before he gets started?

If the guy had already figured that he has discretionary funds, then why can't he just start buying bitcoin and figure out his future bitcoin buying strategy later?

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

Addition to what you have said, after Discovery of their discretionary funds the next to do is to get the appropriate strategy which is DCA method that they can use in accumulating Bitcoin little by little without any obstacles, either weekly or monthly just continue buying because that is the chances of you getting more Bitcoin in your wallet, it require a lot of consistency when using this method, you don't have to forget about your emergency funds also, building it together with your investment is actually the best way to go so that there will not be any challenges in the process.

I agree with you. But what needs to be clarified here is that even after understanding whether there is a discretionary fund or not, an investor should still decide on a realistic accumulation strategy according to his own position. I think the DCA method is a realistic investment method for a new investor. Because here you do not have to make any irrational decisions like perfectly entry or buying Bitcoin at a low price. Investing by following DCA does not mean that he has to invest under any circumstances. DCA should be done depending on the investor's cash flow. You can invest consistently by following DCA, but to maintain this consistency, it is necessary to ensure that financial pressure is not created.

One thing is getting started, and another thing is making the future plan for accumulating bitcoin or whatever.

In order to get started, a bitcoin newbie does not need to create his future plan before he starts.  Sure, if he wants to create his future plan before he starts, then that is up to him, but it is not required for a bitcoin newbie to create a future plan in order to start buying bitcoin.

[Edited Out]

What you are saying is absolutely true, as an investor it’s very important to focus more on getting a basic understanding and knowledge about bitcoin before getting started, myself I have been trying to learn some basic knowledge about bitcoin which is why I joined here recently, and to learn things about bitcoin, how to get started with my investment with bitcoin, majority of the people who are interested in buying bitcoin but doesn’t have basic knowledge and doesn’t know about the Bitcoin ecosystem forum and they’re struggling with learning about bitcoin, investing in a long term investment is very important for the purpose of staying on course for bitcoin investment.

You don't need basic knowledge to get started buying bitcoin, even though you need discretionary funds to get started.

You can learn whatever topics that you consider to be "basic knowledge" as you go, even though surely, you might want to adjust your position size so that it is smaller while you are learning whatever you believe you need to learn in your thoughts about "basic knowledge" that would help you to become more comfortable in order to start to invest more into bitcoin.

So, for example, if you already know that you have $100 per week in discretionary income that you could use to buy bitcoin, you might purposefully decide to buy $30 per week of bitcoin until you increase your comfort level with whatever categories of basic knowledge that you believe that you need to learn about.

[Alonso_]

[Edited Out]

People wait to learn everything before investing only to realize that they can't learn everything and that they shouldn't have waited before starting to invest, bitcoin investment requires a person to have figured out their discretionary income, once that has been done then anyone can start buying bitcoin with it, if they haven't had any backup funds before then they can also from their discretionary income start to save up for that as well, delaying when their discretionary income is already available won't do them any good, it will just be missed buying opportunities trailing behind them.

Waiting to learn everything about bitcoin before one can start investing is a very bad decision to make by anyone who has interest in bitcoin and should be discouraged among beginners because this can make someone to remain a no coiner longer than he can imagine. Bitcoin is good when you have started investing, then you can be learning along the process. There is no one who can boast of knowing everything about bitcoin no matter the level of experience. What almost every investor knows is that bitcoin is a volatile asset and that bitcoin is best held for a long period of at least 4 to 10 years and that the longer you hold your bitcoin, the better chances you have to make a profit.

When beginners are expected to only focus on learning the basics of bitcoin investment which includes choosing a secure wallet, figuring out their discretionary income, choosing an investment strategy and kicking off their bitcoin investment. Some folks waste their time studying volatility and that's what causes almost every delay we see among the beginners. Anyone who's able to beat the urge to study volatility endlessly, will do better as a bitcoin investor. The good thing is that we also learn in the process, the longer you stay in bitcoin investment, the more experience you gather which will continue to influence other decisions you make as regards bitcoin investment.

People who haven't bought Bitcoin yet, shouldn't stress themselves in trying to know much or little things about Bitcoin before they start investing. Newbie should figure out their discretionary income, find a good reliable source or platform to buy Bitcoin, maybe through an Exchange. In terms of security and privacy some newbies will want to keep their holdings in the platform in which they used to buy Bitcoin. But when they are learning and understanding things about Bitcoin, so with the knowledge they've gathered they can now choose the platform that best fit them to keep their Bitcoin holdings. Knowledge shouldn't be something that will stop someone from investing. Some people might even decide to learn everything and along the way, they might lose interest in Bitcoin investment.

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

[WhoYouCantKill]

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

lol what are you saying? So if you don’t have basic knowledge about investing, how would you know you are meant to invest with your discretionary funds, or better still how would you even be able to figure out your discretionary income? Let’s assume someone who just heard that bitcoin is a good investment, and maybe suddenly picked interest to invest, so exactly would he know how and where to buy bitcoin, or how to store them? All these are the basic knowledge people need to get started in bitcoin. What you don’t need as a newbie investor is the deep or technical knowledge knowledge, like the best storage methods, self custody, understanding of how the market really works, like the market cycles and all of that, a newbie doesn’t need those when he’s starting or before he starts, because he could learn them along the way.

As long he has basic knowledge, like having basic math skills, figuring out their discretionary income, knowing where and how to buy bitcoin, and maybe get to know about emergency/backup funds, (even though they don’t have it yet) then they can get started immediately. But saying a newbie doesn’t need basic knowledge, that’s totally wrong.

[Futurexxx]

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

How can you do the right thing when you are ignorant?
Because it seems like you just talk without reasoning what you spoke off, if it makes sense or not.

I know that common sense may help you to an extent, but without having common sense, you would not know that you have to do some research first before knowing the right step to take before starting, because a typical newbie will never know that he should only invest in Bitcoin from his discretionary income, so in essence of what am trying to say is that you must know the basics before starting, because starting with complete ignorance will do you more harm than good.

[ruykeri]

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

How can you do the right thing when you are ignorant?
Because it seems like you just talk without reasoning what you spoke off, if it makes sense or not.

I know that common sense may help you to an extent, but without having common sense, you would not know that you have to do some research first before knowing the right step to take before starting, because a typical newbie will never know that he should only invest in Bitcoin from his discretionary income, so in essence of what am trying to say is that you must know the basics before starting, because starting with complete ignorance will do you more harm than good.

The ability to start investing in Bitcoin and the basic knowledge to start are not the same thing. If a person has discretionary income and common sense, then he has the ability to invest in Bitcoin. Now before starting investing, you need to know some basic understanding. For example, how to keep a Bitcoin wallet safe by saving a seed phrase. Along with this, determine which method is best suited for him according to his income flow. Depending on how much pressure he can take mentally, select the DCA amount and start investing in Bitcoin accordingly and along with that, he will gain knowledge, experience and will also give importance to forming a backup fund.

[Nwaswago]

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

You cannot presume how long it is going to take people to learn things, and you cannot even presume that guys are able to figure out their discretionary funds.

Yet if guys are able to figure out their discretionary funds, they are quite likely capable to get started.

Part of the problem of proclaiming "basic knowledge" is to assert what you believe guys already know, what they need to know and how much time it is going to take for them to learn it, and the fact of the matter, is that if guys have common sense, then they should be able to figure out what they know or they do not know beyond figuring out their discretionary funds and if they are comfortable to get started buying bitcoin.

If the guy is having trouble figuring out from where he is going to source his bitcoin purchases, and/or he is not comfortable with how he is buying bitcoin, then how is he going to get started?  It is up to him to figure out if he is comfortable with his sourcing or not.  I am not trying to give excuses for guys not to start buying bitcoin, since getting started buying bitcoin is important, yet guys still have to figure out those things for themselves, even  if they have discretionary funds to get started.

Frequently guys can still get started and to be a bit uncomfortable and to just adjust his starting out position size down to a small enough amount so that he can at least get started, yet those still end up being personal calls, and we cannot tell someone else the extent that he should be comfortable enough or not in order to get started or that "it should only take an hour to figure it out."

Even with figuring out discretionary funds.  There will be some guys who know their budget well, and other guys who are not sure about their discretionary funds, yet a guy who knows that he has $1k or $2k in the bank as back up funds, then he may well be able to fairly easily figure out if he has $100, $10 or some other quantity of discretionary funds that are available that he could get started buying bitcoin, yet he still might not want to get started if he is not comfortable with the sources of locations that he might be considering buying bitcoin - even if he knows that he has a sufficient amount of discretionary funds available.

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

Even if it doesn't take a long or difficult process to know the basics, most people can understand the importance of bitcoin in a sort period of time. Although, I don’t think the only thing a beginner needs to figure out is there discretionary income. As I have said previously Said,beginners should also understand why bitcoin exist and the rest i said before.
Once those fundamental are clear, they don't need to wait until they become experts before buying. They can start with a small amount, continue learning while they invest, and gradually build both their knowledge and their position. That's a much better approach than either rushing in blindly or waiting forever to know everything.

Huh?  You think that a beginner needs to know why bitcoin exists in order to get started?  You seem to be adding a requirement, and sure, if a newbie determines that he is not going to start buying bitcoin until he figures out "why bitcoin exists," then that is up to him to create that requirement for himself, yet I doubt that objectively it is a requirement that everyone who starts to invest in bitcoin has to know "why bitcoin exists" in order to get started buying bitcoin.

You said that earlier you had mentioned some other basics besides knowing that he has discretionary funds that a newbie needs to know before starting to buy bitcoin?  What are those supposed "basics" that you believe newbies need to know in order to get started buying bitcoin?

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

Addition to what you have said, after Discovery of their discretionary funds the next to do is to get the appropriate strategy which is DCA method that they can use in accumulating Bitcoin little by little without any obstacles, either weekly or monthly just continue buying because that is the chances of you getting more Bitcoin in your wallet, it require a lot of consistency when using this method, you don't have to forget about your emergency funds also, building it together with your investment is actually the best way to go so that there will not be any challenges in the process.

You think that a guy has to figure out a bitcoin buying strategy before he gets started?

If the guy had already figured that he has discretionary funds, then why can't he just start buying bitcoin and figure out his future bitcoin buying strategy later?

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

The truth is that most people talk about the basic knowledge about bitcoin like it's something that going to take too much time from them, you can actually figure it all out in around an hour, most people already have a common sense on what the need to know about bitcoin to start buying so at the end of the day what a person really needs to do is to figure out their discretionary income, once this has been done then they can start buying bitcoin with it, the process is not really as complicated as some people make it out to be.

Addition to what you have said, after Discovery of their discretionary funds the next to do is to get the appropriate strategy which is DCA method that they can use in accumulating Bitcoin little by little without any obstacles, either weekly or monthly just continue buying because that is the chances of you getting more Bitcoin in your wallet, it require a lot of consistency when using this method, you don't have to forget about your emergency funds also, building it together with your investment is actually the best way to go so that there will not be any challenges in the process.

I agree with you. But what needs to be clarified here is that even after understanding whether there is a discretionary fund or not, an investor should still decide on a realistic accumulation strategy according to his own position. I think the DCA method is a realistic investment method for a new investor. Because here you do not have to make any irrational decisions like perfectly entry or buying Bitcoin at a low price. Investing by following DCA does not mean that he has to invest under any circumstances. DCA should be done depending on the investor's cash flow. You can invest consistently by following DCA, but to maintain this consistency, it is necessary to ensure that financial pressure is not created.

One thing is getting started, and another thing is making the future plan for accumulating bitcoin or whatever.

In order to get started, a bitcoin newbie does not need to create his future plan before he starts.  Sure, if he wants to create his future plan before he starts, then that is up to him, but it is not required for a bitcoin newbie to create a future plan in order to start buying bitcoin.

[Edited Out]

What you are saying is absolutely true, as an investor it’s very important to focus more on getting a basic understanding and knowledge about bitcoin before getting started, myself I have been trying to learn some basic knowledge about bitcoin which is why I joined here recently, and to learn things about bitcoin, how to get started with my investment with bitcoin, majority of the people who are interested in buying bitcoin but doesn’t have basic knowledge and doesn’t know about the Bitcoin ecosystem forum and they’re struggling with learning about bitcoin, investing in a long term investment is very important for the purpose of staying on course for bitcoin investment.

You don't need basic knowledge to get started buying bitcoin, even though you need discretionary funds to get started.

You can learn whatever topics that you consider to be "basic knowledge" as you go, even though surely, you might want to adjust your position size so that it is smaller while you are learning whatever you believe you need to learn in your thoughts about "basic knowledge" that would help you to become more comfortable in order to start to invest more into bitcoin.

So, for example, if you already know that you have $100 per week in discretionary income that you could use to buy bitcoin, you might purposefully decide to buy $30 per week of bitcoin until you increase your comfort level with whatever categories of basic knowledge that you believe that you need to learn about.

I think we are mostly in agreement that people shouldn't delay buying Bitcoin indefinitely, but I also see value in that small level of understanding before having to risk some money.The goal isn't to create a barrier to entry, it is to reduce avoidable mistakes.  A small DCA,knowing discretionary income, and having a long term mindset gives beginners the best chance of staying in the market

[Nheer]

You don't need basic knowledge to get started buying bitcoin, even though you need discretionary funds to get started.

You can learn whatever topics that you consider to be "basic knowledge" as you go, even though surely, you might want to adjust your position size so that it is smaller while you are learning whatever you believe you need to learn in your thoughts about "basic knowledge" that would help you to become more comfortable in order to start to invest more into bitcoin.

So, for example, if you already know that you have $100 per week in discretionary income that you could use to buy bitcoin, you might purposefully decide to buy $30 per week of bitcoin until you increase your comfort level with whatever categories of basic knowledge that you believe that you need to learn about.

I think we are mostly in agreement that people shouldn't delay buying Bitcoin indefinitely, but I also see value in that small level of understanding before having to risk some money.The goal isn't to create a barrier to entry, it is to reduce avoidable mistakes.  A small DCA,knowing discretionary income, and having a long term mindset gives beginners the best chance of staying in the market

Delay mostly starts by trying to have a certain level of understanding before investing but in reality the necessary basics is to figure out your discretionary income which is the only reason a person have to delay investing. No further delay should be done after you have figured out your discretionary income, just invest immediately and you can learn whatever topic you feel is basic and necessary to you you as your investment is ongoing already just as JJG suggested.

Starting out without delay won't cause any mistakes if you proceed to learning what is needed as you invest. You only make mistakes when you don't learn anything at all.

[Derekfunds]

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

How can you do the right thing when you are ignorant?
Because it seems like you just talk without reasoning what you spoke off, if it makes sense or not.

I know that common sense may help you to an extent, but without having common sense, you would not know that you have to do some research first before knowing the right step to take before starting, because a typical newbie will never know that he should only invest in Bitcoin from his discretionary income, so in essence of what am trying to say is that you must know the basics before starting, because starting with complete ignorance will do you more harm than good.

The ability to start investing in Bitcoin and the basic knowledge to start are not the same thing. If a person has discretionary income and common sense, then he has the ability to invest in Bitcoin. Now before starting investing, you need to know some basic understanding. For example, how to keep a Bitcoin wallet safe by saving a seed phrase. Along with this, determine which method is best suited for him according to his income flow. Depending on how much pressure he can take mentally, select the DCA amount and start investing in Bitcoin accordingly and along with that, he will gain knowledge, experience and will also give importance to forming a backup fund.

Point of correction what someone need to invest in Bitcoin is not common sense and I don't know where this idea is coming from because it can be misleading to pleb who don't know anything about Bitcoin investment. What someone need to start Bitcoin investment is discretionary income and basic knowledge and not discretionary income and common sense. For your information common sense can not really tell someone how careful they should be with their seed phrase but basic knowledge will... Because you have understood how important it is to keep it safe.

[Exitoral]

I agree with you. Inspiration can help a person invest in Bitcoin and take the first step. But is inspiration really enough to survive in the long term? In my opinion, no, suppose a person bought Bitcoin for $20 on the encouragement of his friend but it fell by 30% within a few weeks, if he got scared and sold all his Bitcoin, then he did not value the inspiration he received from his friend.(The price drop is mentioned just to give an example)
Rather, if he had understood from the beginning that investing in Bitcoin is a plan for 4 to 10 years or more, and only invested in a regular DCA method with discretionary income, then the market fluctuations might not have easily upset him. In my opinion, it is not inspiration alone that helps investors in Bitcoin, but proper knowledge, cash flow planning and discipline that ultimately help them hold on to their Bitcoin.

Inspiration may get someone to buy their first bitcoin, but knowledge is what keep them investing, many people enter the market because of someone else success story, but without understanding Bitcoin works, it value proposition, they normally panic at the first correction and thats why education, and investing only what you can afford to loose and a disciplined DCA strategy backed by a clear time horizon turns price drop from a source of fear into opportunities to accumulate.

I agree. Inspiration can spark curiosity, but conviction comes from understanding. Many people buy Bitcoin after hearing other people's success stories, yet without learning why it has value and how it works, they often sell at the first sign of volatility.
That's why education should come before chasing profits. A disciplined DCA strategy, combined with investing only money you can comfortably leave untouched for the long term, helps remove emotion from the process.

As long as you are not pushing for people to have to learn about bitcoin first before they can start buying, I don't have a problem with learning about bitcoin but one mistake people make especially newbies who are nocoiner is that they think that before they can invest in bitcoin they have to learn everything about bitcoin first and that mentality is wrong, all you need to be able to start buying bitcoin is your discretionary income, once that has been figured out then you can start buying bitcoin with it, you don't need to be aggressive from the start, you can simply use one third of your discretionary income to buy bitcoin, if you didn't already have your backup funds then another one third of your discretionary income should also be used to set it up, what you do with the last one third is completely your choice as an investor.

Newbies should learn how to invest in Bitcoin without thinking about learning everything about Bitcoin, because that is where the problems and challenges comes into play, personally I don’t see any reason why I should be waiting to have all necessary knowledge before getting started with Bitcoin, that is a very terrible thing to do as a newbie who is trying to get started with investing in Bitcoin, there is no way you can learn everything before getting started with Bitcoin, instead it should be more about getting started and having a discretionary income, however you will always learn things about Bitcoin along the line as you keep investing and growing with buying and accumulating bitcoin, you can start buying immediately.

It's right that beginners don't need to have every knowledge technically about bitcoin before investing. If they wait until they know everything, they will prolly never start because learning about bitcoin is a continuous process. Although there is a difference between not knowing everything and having no idea, before investing a newbie should at least know why bitcoin exist,its volatility, the importance of self custody,and reason they should invest only capital they can afford to loose or leave untouched for years.

An investor doesn't need to learn before getting started with common sense and your discretionary income available you can start buying bitcoin with as little as it is you can start buying using with the dca strategy i believe as you are continually buying so you can be learning along the process, there are some who don't get started because they want to wait and learn what i don't know that's how they keep postponing it until they never get started and end up been a no bitconer.

People wait to learn everything before investing only to realize that they can't learn everything and that they shouldn't have waited before starting to invest, bitcoin investment requires a person to have figured out their discretionary income, once that has been done then anyone can start buying bitcoin with it, if they haven't had any backup funds before then they can also from their discretionary income start to save up for that as well, delaying when their discretionary income is already available won't do them any good, it will just be missed buying opportunities trailing behind them.

You are right but before figuring out a discrestionary income I think it will be wise for someone to have gotten the basic knowledge or start while looking for how to sort his or her discretionary income because it will be another waste of time after sorting your discretionary income out the person now embark on the learning of the basic knowledge it doesn't make any sense because you can not buy or approach the market without the basic knowledge on how to go about it that's why it is necessary and compulsory.

Hoe long do you think gathering this basic knowledge will take? Minutes? Hours? When you speak about basic knowledge like this alot of people will think that it's something that will take too much of their time giving them even more excuses to use to delay their investment, basic is called basic because of how easiit is to get, most people who are even investing in bitcoin probably already know these things and won't have to have to relearn them before they can start buying bitcoin, once the discretionary income is figured out people csn start investing.

I think both of you are actually closer in opinion than it seems. Basic knowledge doesn't have to be a long or complete, and starting doesn't have to mean going in blindly.
A beginner doesn't need to understand mining, cryptography, or the technical details of Bitcoin before buying or enteringthemarket.

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

[Joeboy]

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

It is through involvement/investment that folks can truly understand volatility, scams and the others that you mentioned...There is absolutely no gain as well as nothing to learn when folks keep delaying yourself unnecessarily...That's exactly why it's best for folks to kickstart their investments using their discretionary income and then learn as they go.. The truth is that there will always be new things to learn in the course of your investment.. Yyou can't make perfection in one day, so why waiting and wasting your precious time?

[The Founding Titan]

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

Electrum is indeed an amazing wallet for holding bitcoin but saying that knowing about it counts as basic knowledge isn't something I will completely agree with, it's to the investor's advantage if they can start with the right wallet but they don't need to figure out that Electrum is the wallet to go with before they can start investing, volatility work since investors need to know that bitcoin is a volatile asset, using their discretionary income to invest works even better, though different people can consider different things to be basic knowledge.

[Different patterns]

You don't need basic knowledge to get started buying bitcoin, even though you need discretionary funds to get started.

You can learn whatever topics that you consider to be "basic knowledge" as you go, even though surely, you might want to adjust your position size so that it is smaller while you are learning whatever you believe you need to learn in your thoughts about "basic knowledge" that would help you to become more comfortable in order to start to invest more into bitcoin.

So, for example, if you already know that you have $100 per week in discretionary income that you could use to buy bitcoin, you might purposefully decide to buy $30 per week of bitcoin until you increase your comfort level with whatever categories of basic knowledge that you believe that you need to learn about.

I think we are mostly in agreement that people shouldn't delay buying Bitcoin indefinitely, but I also see value in that small level of understanding before having to risk some money.The goal isn't to create a barrier to entry, it is to reduce avoidable mistakes.  A small DCA,knowing discretionary income, and having a long term mindset gives beginners the best chance of staying in the market

Delay mostly starts by trying to have a certain level of understanding before investing but in reality the necessary basics is to figure out your discretionary income which is the only reason a person have to delay investing. No further delay should be done after you have figured out your discretionary income, just invest immediately and you can learn whatever topic you feel is basic and necessary to you you as your investment is ongoing already just as JJG suggested.

Starting out without delay won't cause any mistakes if you proceed to learning what is needed as you invest. You only make mistakes when you don't learn anything at all.

You make a valid point and I agree with you that delay is wasting of time, I think people Delay their investment because they think they need to know everything before start investing, which is actually waste of time and energy, the important thing is to start even with small of money and continue with learning as you invest, once you have your discretionary income available with you and also understand the basic principle of investing with what you can afford to set aside. Because the first investment no need to be perfect, the experience first get from investing responsibly together with continuous learning, is always valuable than waiting for many years try to prepare without taking action.  Investing and learning should go together never stop.

[Son Of Blockchain (SOB)]

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

Electrum is indeed an amazing wallet for holding bitcoin but saying that knowing about it counts as basic knowledge isn't something I will completely agree with, it's to the investor's advantage if they can start with the right wallet but they don't need to figure out that Electrum is the wallet to go with before they can start investing, volatility work since investors need to know that bitcoin is a volatile asset, using their discretionary income to invest works even better, though different people can consider different things to be basic knowledge.

You nailed it buddy, the discretionary income is what any investor need to figure out before they can focus on other stuffs without figuring out the discretionary income an investor would just be blindly investing their money and end up ruining things for themselves as times goes.
 So anyone that's interested in owning Bitcoin should first figure out what they can comfortably put into Bitcoin after settling their essentials then understanding basic things like the right wallet to store the investment, where to buy from and so on.

[Primark]

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

If you don't even know about wallets, you can start from exchanges. But common sense is one thing and learning about wallets is another. Common sense is that you don't jump out of a moving car knowingly, you can go to the market and buy products by calculating. In terms of investment, you can separate your discretionary income. A new person needs two things, common sense and discretionary income. I think it exists in about 95% of people. And the things you have mentioned about wallets are not common sense, but they are basic things to learn after starting Bitcoin. If you still don't have any idea about wallets, then you can start from exchanges. Then we will continue learning and once you are aware of your wallet, your own custody, security, you can bring it from the exchange to your own wallet. Starting with exchanges without waiting at the beginning is the initial stage of learning, but it is not wrong. But ultimately, self-custody is the main thing.

[GIF-JOBS]

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

Electrum is indeed an amazing wallet for holding bitcoin but saying that knowing about it counts as basic knowledge isn't something I will completely agree with, it's to the investor's advantage if they can start with the right wallet but they don't need to figure out that Electrum is the wallet to go with before they can start investing, volatility work since investors need to know that bitcoin is a volatile asset, using their discretionary income to invest works even better, though different people can consider different things to be basic knowledge.

You nailed it buddy, the discretionary income is what any investor need to figure out before they can focus on other stuffs without figuring out the discretionary income an investor would just be blindly investing their money and end up ruining things for themselves as times goes.
 So anyone that's interested in owning Bitcoin should first figure out what they can comfortably put into Bitcoin after settling their essentials then understanding basic things like the right wallet to store the investment, where to buy from and so on.

I agree with you, it is very important to calculate your monthly income, regular expenses, emergency fund and financial obligations before starting to invest, you cannot use money that you cannot keep for a long time, Bitcoin is a long-term investment so it is very important to keep it for a long time, that is why at the beginning of the investment you need to make sure that you are able to keep the money you are using for investment without any problem. It is not enough to just invest, but you also need to make sure how to store it safely without any problem. Financial security, and also the importance of using the right wallet to keep it safe is also very important, which many newbies may ignore at first and instead of looking at their Bitcoin in a safe wallet, they may leave it on the exchange, which is risky. It is important to keep this in mind, there should be no compromise in terms of security.

[Loyang]

I agree with you, it is very important to calculate your monthly income, regular expenses, emergency fund and financial obligations before starting to invest, you cannot use money that you cannot keep for a long time, Bitcoin is a long-term investment so it is very important to keep it for a long time, that is why at the beginning of the investment you need to make sure that you are able to keep the money you are using for investment without any problem. It is not enough to just invest, but you also need to make sure how to store it safely without any problem. Financial security, and also the importance of using the right wallet to keep it safe is also very important, which many newbies may ignore at first and instead of looking at their Bitcoin in a safe wallet, they may leave it on the exchange, which is risky. It is important to keep this in mind, there should be no compromise in terms of security.

The first step you mentioned about security is that you are wrong about security. Because emergency funds are the first step to protecting our Bitcoin holdings and you are considering building your emergency fund with the wrong amount of money. Emergency funds should always be built with discretionary income. Whenever you build your emergency fund from a source of income, if you put the necessary money in the emergency fund, you may not be able to maintain your fund. If this happens during some kind of emergency situation, you will never be able to protect your holdings. Emergency funds should always be built with discretionary income

[samadam007]

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

You're mixing knowledge needed to start with the knowledge people gain over time

The first basic knowledge a newbie needs is understanding their own financial situation to know whether they have discretionary income to invest with. Without that, they shouldn't be investing at all. Once they figured that out, they can start accumulating BTC. Those things you mentioned are important, but they're part of the learning process. Understanding Bitcoin is a broad journey…even experienced Bitcoin investors are still learning

[Gragebox]

We all make basic knowledge seem like a big deal. But what basic knowledge is actually very important?

First, what wallet should one use? I made a topic asking which wallet to use, and almost everyone recommended Electrum. That's basic knowledge.

Scams to avoid. That's basic knowledge.

Understanding that volatility is your best friend and not your enemy. That's basic knowledge.

Using only discretionary income. That's basic knowledge.

With these, you are good to go. How hard can it be?

Why all this emphasis on basic knowledge? It's all about helping newbies make the right decisions. Giving them an edge in making quality decisions.

Electrum is indeed an amazing wallet for holding bitcoin but saying that knowing about it counts as basic knowledge isn't something I will completely agree with, it's to the investor's advantage if they can start with the right wallet but they don't need to figure out that Electrum is the wallet to go with before they can start investing, volatility work since investors need to know that bitcoin is a volatile asset, using their discretionary income to invest works even better, though different people can consider different things to be basic knowledge.

You nailed it buddy, the discretionary income is what any investor need to figure out before they can focus on other stuffs without figuring out the discretionary income an investor would just be blindly investing their money and end up ruining things for themselves as times goes.
 So anyone that's interested in owning Bitcoin should first figure out what they can comfortably put into Bitcoin after settling their essentials then understanding basic things like the right wallet to store the investment, where to buy from and so on.

I agree with you, it is very important to calculate your monthly income, regular expenses, emergency fund and financial obligations before starting to invest, you cannot use money that you cannot keep for a long time, Bitcoin is a long-term investment so it is very important to keep it for a long time, that is why at the beginning of the investment you need to make sure that you are able to keep the money you are using for investment without any problem. It is not enough to just invest, but you also need to make sure how to store it safely without any problem. Financial security, and also the importance of using the right wallet to keep it safe is also very important, which many newbies may ignore at first and instead of looking at their Bitcoin in a safe wallet, they may leave it on the exchange, which is risky. It is important to keep this in mind, there should be no compromise in terms of security.

It is quite interesting because the success of Bitcoin investing goes beyond just purchasing and involves proper planning and security measures. As a beginner, people tend to think of ways of joining the market while forgetting if they have enough resources to leave their funds inactive for some time. Any investor who starts investing using the money he might need in emergencies will end up selling when the market goes down.

It is also important to consider security in order to have a safe way of trading. Keeping Bitcoin on exchanges to facilitate easy transactions exposes the investor to many risks because the exchanges might experience issues in terms of security and operation. Therefore, it is advisable for any novice investor to learn how to use a self-custodial wallet and save their recovery phrases safely.

[Fiasem20]

As a newbie basic knowledge isn’t a requirement to start investing in bitcoin, instead what is required is a discretionary income to get started with bitcoin, some newbies would be feeling that they need a basic knowledge to get started with their bitcoin investments, first of all have a discretionary income then you can learn how to buy bitcoin, and how to safeguard your bitcoin somewhere that can be save for for you, and keep you away from scammers, hardware self custodian is something to know so a newbie can be safely informed about security and keeping their bitcoin safe.

You're mixing knowledge needed to start with the knowledge people gain over time

The first basic knowledge a newbie needs is understanding their own financial situation to know whether they have discretionary income to invest with. Without that, they shouldn't be investing at all. Once they figured that out, they can start accumulating BTC. Those things you mentioned are important, but they're part of the learning process. Understanding Bitcoin is a broad journey…even experienced Bitcoin investors are still learning

Ofcourse yes,starting bitcoin investment journey one needs to acknowledge the fact they would use their discretionary income for that.Just as you’ve said that even experienced bitcoiners are still learning which is not completely true but that tells us that learning is a continuous journey,we learn new thing almost everyday it may not necessarily be the basic knowledge it may be about current scam tactics that have been on the rise in the crypto space.So in my own opinion,those set of individuals that have their discretionary income and are ready to continually invest on bitcoin should start buying and learn alongside their accumulation phase.

[PhilosopherKing]

It is quite interesting because the success of Bitcoin investing goes beyond just purchasing and involves proper planning and security measures. As a beginner, people tend to think of ways of joining the market while forgetting if they have enough resources to leave their funds inactive for some time. Any investor who starts investing using the money he might need in emergencies will end up selling when the market goes down.

It is also important to consider security in order to have a safe way of trading. Keeping Bitcoin on exchanges to facilitate easy transactions exposes the investor to many risks because the exchanges might experience issues in terms of security and operation. Therefore, it is advisable for any novice investor to learn how to use a self-custodial wallet and save their recovery phrases safely.

There is zero gain in person delaying your ongoing investment all because you want to learn about security. If you don't have any Bitcoin stash in your wallet so what do you want to protect huh? Security is important, yes it is, but there is always time for everything, don't use the time for investment for another thing. By the way, novices don't need to waste time in learning security. They should just get the fuck started with their discretionary income and the rest can be sorted out along the way.