Investment Become Gambling

[JayJuanGee]

Investing in bitcoin doesn't stop anyone from learning or gaining knowledge about bitcoin. Therefore, it will be a waste of time if someone decides not to start investing in bitcoin with the excuse that they want to gain necessary knowledge before they can start. The most crucial thing is that they can be able to figure out if they have discretionary income to start with. To avoid unnecessary procrastination,  knowledge about bitcoin investment can still be acquired while ongoing with bitcoin accumulation.

Gathering knowledge is an essential part of anything we want to do in life, that said we shouldn't consider delaying our investment simply because you thityou don't have enough knowledge about bitcoin to be able to start investing, common sense will tell anyone who's interested in buying bitcoin that they don't need to know that much but with only their discretionary income they can start investing when they want, the knowledge gathering can always come after or along side the accumulation but the accumulation should never be delayed when the discretionary income is already there to invest with, most people have not been able to start accumulating bitcoin because they are busy telling themselves that they are not ready yet because they don't have what they believe to be adequate knowledge yet, just start buying with your discretionary income, the knowledge will come later.

In regards to the knowledge topic, guys get too worked up about trying to obtain knowledge that they do not know, but instead, it is likely way better to focus on what we already know and to put together what we know and what we might need to know, and if we are considering what we know (and what is within our easier grasp of knowing) we can continue to both refine what we know and there is no targetting the areas that are within grasp of our knowing better.

So for example, we are in a way better position to lok at our historical income/expenses an to project our future income/expenses than we are to learn some new abstract area that may or may not relate to bitcoin.  Of course, there is nothing wrong with wanting to know more about bitcoin, yet we likely can start to buy bitcoin with only superficial knowledge of it, and like you said, Money bag, continue to learn as we go.

Another thing is that if we can clearly assess the quantity of discretionary funds that we have on a monthly (or weekly basis), we do not have to invest all of our discretionary income into bitcoin, merely because we have it.  Instead we likely can determine to invest a comfortable size (perhaps even quite conservative) that would go along with our level of comfort and our perceptions of our level of knowledge, and we can still get started and even build a bitcoin position on a weekly basis without overly investing, but instead just studying bitcoin as we go... and yeah, we can study bitcoin, various aspects of our cash flow that is already in place and we can even take into account our 9 individual factors, and we do not even need to be experts on our 9 individual factors since we can adjust our bitcoin buying amount to our comfort level with our 9 individual factors. 

Getting started investing in bitcoin likely remains an important factor for an overwhelming majority of people in the world, even though bitcoin's adoption remains quite low... perhaps ONLY a few percentage of the world's population has much if any price exposure to bitcoin and surely do not directly own it, which should be the aspiration for many.

[Fiasem20]

Investing in bitcoin doesn't stop anyone from learning or gaining knowledge about bitcoin. Therefore, it will be a waste of time if someone decides not to start investing in bitcoin with the excuse that they want to gain necessary knowledge before they can start. The most crucial thing is that they can be able to figure out if they have discretionary income to start with. To avoid unnecessary procrastination,  knowledge about bitcoin investment can still be acquired while ongoing with bitcoin accumulation.

Gathering knowledge is an essential part of anything we want to do in life, that said we shouldn't consider delaying our investment simply because you thityou don't have enough knowledge about bitcoin to be able to start investing, common sense will tell anyone who's interested in buying bitcoin that they don't need to know that much but with only their discretionary income they can start investing when they want, the knowledge gathering can always come after or along side the accumulation but the accumulation should never be delayed when the discretionary income is already there to invest with, most people have not been able to start accumulating bitcoin because they are busy telling themselves that they are not ready yet because they don't have what they believe to be adequate knowledge yet, just start buying with your discretionary income, the knowledge will come later.

Exactly,learning bitcoin doesn’t really matter as a beginner,most persons have found excuses on the aspect of “ learning bitcoin before investing”.There’s absolutely no time to check time,procrastination kills determination.Those beginner that haven’t started yet but they’re aiming on starting and they’re still in their learning phase don’t actually know they can start accumulating and still learn bitcoin alongside their learning process just as you’ve said.More light has been thrown on the matter,don’t allow acquiring knowledge before accumulating bitcoin to stand as a procrastination,instead start right away or study the 9 individual factors,according to @ JayJuanGee.

[Cgrexp]

There is no need to waste time acquiring a lot of knowledge when starting to invest in Bitcoin. But there must be the desire and ability to acquire knowledge. Price fluctuations are a very common thing here. One should not panic about the volatility of short-term prices in any way. And if anyone has a long-term holding mentality, it is not right to give so much importance to the volatility of prices in short time. The investor should understand this from the beginning and invest. If he cannot control his emotions, then there will be a high possibility of loss. For this, he should first understand his mental state by investing with a small amount. After that, he can make changes in his investment planning according to his situation in the future.

That’s right. Emotional mastery and control is in fact one of the most important qualities that every investor must have, especially when investing in an asset as volatile as Bitcoin. If someone wishes to figure out and understand their risk tolerance, then the best approach is to start small, this also helps them to avoid panic, during market price fluctuations. The main focus of any investor who plans to invest for the long term should be on constant learning and of course patience, rather than short term price movements.

It is important to control emotions in investing. In the case of investing in volatile assets like Bitcoin, if someone repeatedly changes their decision due to fear or greed due to market fluctuations, they cannot maintain their long-term goals. At the same time, repeated changes in decision can cause big losses later. Therefore, investing in small amounts consistently with a long-term goal is an effective strategy. Therefore, if someone don't invests from the basic cost part or starts with a large amount of money, it is natural to panic when the market fluctuates. Therefore, the investment money should be taken from the additional part after meeting the basic cost. Which an investor is ready to lose. Setting a comfortable amount, clear planning and consistency are helpful in achieving long-term goals.

[Sim_card]

Getting started investing in bitcoin likely remains an important factor for an overwhelming majority of people in the world, even though bitcoin's adoption remains quite low... perhaps ONLY a few percentage of the world's population has much if any price exposure to bitcoin and surely do not directly own it, which should be the aspiration for many.

I agree with you that a brand new investor should start his Bitcoin investment prior to have much knowledge about bitcoin because we continue learning as we invest in Bitcoin since that's where our money is. One thing that makes Bitcoin investment different from other investment is that you don't need to be a pro in it before you can start investing or have the ability to hodli

Some people miss this point and think that they need to know it all before getting started believing that will be a good advantage for them to survive in their bitcoin journey but they forget that it's having a good size of bitcoin in future is better than having a good knowledge with little bitcoin in future because they will waste a lot of time trying to learn what they can keep their investment ongoing and learn at the same time.

One thing that I have come to understand about bitcoin investment is that the best way to learn is by putting it into practice accumulating and gain experience from the market gives you a better understanding on bitcoin.

[Proty]

Investing in bitcoin doesn't stop anyone from learning or gaining knowledge about bitcoin. Therefore, it will be a waste of time if someone decides not to start investing in bitcoin with the excuse that they want to gain necessary knowledge before they can start. The most crucial thing is that they can be able to figure out if they have discretionary income to start with. To avoid unnecessary procrastination,  knowledge about bitcoin investment can still be acquired while ongoing with bitcoin accumulation.

Gathering knowledge is an essential part of anything we want to do in life, that said we shouldn't consider delaying our investment simply because you thityou don't have enough knowledge about bitcoin to be able to start investing, common sense will tell anyone who's interested in buying bitcoin that they don't need to know that much but with only their discretionary income they can start investing when they want, the knowledge gathering can always come after or along side the accumulation but the accumulation should never be delayed when the discretionary income is already there to invest with, most people have not been able to start accumulating bitcoin because they are busy telling themselves that they are not ready yet because they don't have what they believe to be adequate knowledge yet, just start buying with your discretionary income, the knowledge will come later.

Exactly,learning bitcoin doesn’t really matter as a beginner,most persons have found excuses on the aspect of “ learning bitcoin before investing”.There’s absolutely no time to check time,procrastination kills determination.Those beginner that haven’t started yet but they’re aiming on starting and they’re still in their learning phase don’t actually know they can start accumulating and still learn bitcoin alongside their learning process just as you’ve said.More light has been thrown on the matter,don’t allow acquiring knowledge before accumulating bitcoin to stand as a procrastination,instead start right away or study the 9 individual factors,according to @ JayJuanGee.

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

[Grace333]

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

Knowledge shouldn't be a limiting factor to why a nood didn't get started it's more of an advantage because the more you know the more you feel like frontloading especially now that bitcoin is still at the dip. The knowledge of investing in bitcoin is as basic as saving in your traditional bank except that in bitcoin you hold full custody of your investment and that is way more better than letting a third-party do it for you. The best knowledge anyone can get from bitcoin is through experience so why not start now and build that experience catalogue so you not only have knowledge on bitcoin but how to make good use of opportunities when you one.

[Olatundespo]

Investing in bitcoin doesn't stop anyone from learning or gaining knowledge about bitcoin. Therefore, it will be a waste of time if someone decides not to start investing in bitcoin with the excuse that they want to gain necessary knowledge before they can start. The most crucial thing is that they can be able to figure out if they have discretionary income to start with. To avoid unnecessary procrastination,  knowledge about bitcoin investment can still be acquired while ongoing with bitcoin accumulation.

Gathering knowledge is an essential part of anything we want to do in life, that said we shouldn't consider delaying our investment simply because you thityou don't have enough knowledge about bitcoin to be able to start investing, common sense will tell anyone who's interested in buying bitcoin that they don't need to know that much but with only their discretionary income they can start investing when they want, the knowledge gathering can always come after or along side the accumulation but the accumulation should never be delayed when the discretionary income is already there to invest with, most people have not been able to start accumulating bitcoin because they are busy telling themselves that they are not ready yet because they don't have what they believe to be adequate knowledge yet, just start buying with your discretionary income, the knowledge will come later.

Exactly,learning bitcoin doesn’t really matter as a beginner,most persons have found excuses on the aspect of “ learning bitcoin before investing”.There’s absolutely no time to check time,procrastination kills determination.Those beginner that haven’t started yet but they’re aiming on starting and they’re still in their learning phase don’t actually know they can start accumulating and still learn bitcoin alongside their learning process just as you’ve said.More light has been thrown on the matter,don’t allow acquiring knowledge before accumulating bitcoin to stand as a procrastination,instead start right away or study the 9 individual factors,according to @ JayJuanGee.

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

Before investing in Bitcoin you must know about this but decide how much knowledge you should have. In my opinion it is better to know the basics such as how to accumulation Bitcoin through fiat and the security of the wallet. Such as keeping the security code and seed phrase safe. Only with this amount of knowledge are you ready to accumulate Bitcoin.

The next step is to have discretionary income available because instead of buying Bitcoin in a lump sum in the initial stage, do it through discretionary income according to your ability. Plan to continue accumulation Bitcoin for the long term and keep an emergency fund so that urgent needs can be met through this fund in times of emergency.

It is not advisable to wait to acquire this knowledge because the price is likely to reach high levels during this period and if you do not start at the right time you may regret it later.

[ZeroVinsonN]

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

Knowledge shouldn't be a limiting factor to why a nood didn't get started it's more of an advantage because the more you know the more you feel like frontloading especially now that bitcoin is still at the dip. The knowledge of investing in bitcoin is as basic as saving in your traditional bank except that in bitcoin you hold full custody of your investment and that is way more better than letting a third-party do it for you. The best knowledge anyone can get from bitcoin is through experience so why not start now and build that experience catalogue so you not only have knowledge on bitcoin but how to make good use of opportunities when you one.

Sometimes you will even see people who started with third party holding before they eventually switched to self custody when they acquired the knowledge of the importance of self custody and they are still holding and accumulating till date, knowledge is important but it shouldn't be used as an excuse to delay investing, a person can start investing with the little thing that they know, using their discretionary income and with time while they are still investing learn the other things they feel are important enough for them to know, all of these will be done while they are still investing, this is a far better alternative to waiting till after they've gathered knowledge before they can start investing.

[The Founding Titan]

Investing in bitcoin doesn't stop anyone from learning or gaining knowledge about bitcoin. Therefore, it will be a waste of time if someone decides not to start investing in bitcoin with the excuse that they want to gain necessary knowledge before they can start. The most crucial thing is that they can be able to figure out if they have discretionary income to start with. To avoid unnecessary procrastination,  knowledge about bitcoin investment can still be acquired while ongoing with bitcoin accumulation.

Gathering knowledge is an essential part of anything we want to do in life, that said we shouldn't consider delaying our investment simply because you thityou don't have enough knowledge about bitcoin to be able to start investing, common sense will tell anyone who's interested in buying bitcoin that they don't need to know that much but with only their discretionary income they can start investing when they want, the knowledge gathering can always come after or along side the accumulation but the accumulation should never be delayed when the discretionary income is already there to invest with, most people have not been able to start accumulating bitcoin because they are busy telling themselves that they are not ready yet because they don't have what they believe to be adequate knowledge yet, just start buying with your discretionary income, the knowledge will come later.

Exactly,learning bitcoin doesn’t really matter as a beginner,most persons have found excuses on the aspect of “ learning bitcoin before investing”.There’s absolutely no time to check time,procrastination kills determination.Those beginner that haven’t started yet but they’re aiming on starting and they’re still in their learning phase don’t actually know they can start accumulating and still learn bitcoin alongside their learning process just as you’ve said.More light has been thrown on the matter,don’t allow acquiring knowledge before accumulating bitcoin to stand as a procrastination,instead start right away or study the 9 individual factors,according to @ JayJuanGee.

What's worse is that by the time they finally decide that they've learnt enough to invest in bitcoin they will then realize that they could have started investing right from the start and there would have been nothing wrong with that and they would have spent all that good buying time not actually buying.
Every now and then you will see people who say they decided to acquire knowledge first before they start investing and when ever you see these posts you will find out that these people actually end up regretting why they didn't just start buying right from the start instead of delaying their investment because they want to gather knowledge first.

[sotelorene]

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

Knowledge shouldn't be a limiting factor to why a nood didn't get started it's more of an advantage because the more you know the more you feel like frontloading especially now that bitcoin is still at the dip. The knowledge of investing in bitcoin is as basic as saving in your traditional bank except that in bitcoin you hold full custody of your investment and that is way more better than letting a third-party do it for you. The best knowledge anyone can get from bitcoin is through experience so why not start now and build that experience catalogue so you not only have knowledge on bitcoin but how to make good use of opportunities when you one.

How do you mean when you say knowledge is not a limiting factor why someone should not start their Bitcoin investment, of course knowledge is a very big factor not only in Bitcoin investment but in every other Investment. However, I would have agree if you said someone doesn't really need to know everything before starting their Bitcoin investment because all that is needed to start is the fundamentals otherwise known as basic knowledge. Anyone who start any investment without the fundamentals stand a big chance of not succeeding.

[Loyang]

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

Of course, you need to have general knowledge to start investing. General knowledge does not say that we need to know a lot or acquire complete knowledge, etc., only if you have a source of discretionary income can you start investing.

Of course, knowledge is very important to maintain our investment in the long term. Without knowledge, we may never be successful, although there is no certainty of profit from investing. We can start investing with general knowledge and after starting investing, we can continue investing and acquiring knowledge in parallel.

[Hustle2025]

Primarily, investment and gambling sometimes seems to be the same or look alike for the reason being that the both are associated with risk. Investment is more of long term goal, research and market analysis. Investment considers risk management and it is based on good strategy, knowledge and information about the investment. Gambling only depends more on hope of quick earning, hype and speculation.

Investment starts looking like gambling when investors going into Investment without good strategy, go into investment with a borrowed fund and with the fund they can not afford to lose. When investors takes action due to emotion without making proper consultation or analysis, implementing the information from social media in his  investment without good investigation and start nursing the ambition of make making quick profit, then the investment has already become gambling.

[Hardyrobust]

Primarily, investment and gambling sometimes seems to be the same or look alike for the reason being that the both are associated with risk. Investment is more of long term goal, research and market analysis. Investment considers risk management and it is based on good strategy, knowledge and information about the investment. Gambling only depends more on hope of quick earning, hype and speculation.

Investment starts looking like gambling when investors going into Investment without good strategy, go into investment with a borrowed fund and with the fund they can not afford to lose. When investors takes action due to emotion without making proper consultation or analysis, implementing the information from social media in his  investment without good investigation and start nursing the ambition of make making quick profit, then the investment has already become gambling.

Investment and gambling are not the same thing and it is very wrong to compared gambling with investment. There is risk in investment but it can't be compared to that of gambling. Gambling is entirely based on luck and it is very risky. There is high potential of losing money in gambling than in investing.  It is the intense to make quick profit that is what push people into gambling and they fail to understand that gambling is very risky and is nothing compared to investment.

[The Founding Titan]

It is not a bad idea for a newbie to learn or acquire knowledge about bitcoin as long as they are not waiting to gain the knowledge before starting to invest in bitcoin . It is only when a newbie decides to wait or delay investing in bitcoin with the idea that they want to learn about bitcoin before starting that's when it is wrong.

Of course, you need to have general knowledge to start investing. General knowledge does not say that we need to know a lot or acquire complete knowledge, etc., only if you have a source of discretionary income can you start investing.

Of course, knowledge is very important to maintain our investment in the long term. Without knowledge, we may never be successful, although there is no certainty of profit from investing. We can start investing with general knowledge and after starting investing, we can continue investing and acquiring knowledge in parallel.

No one would want to down play on the importance of having knowledge but it's also good to know that no one knows everything and applying this to bitcoin investment; you don't need to know everything before you can become a bitcoin investor, most people make the mistake of not starting to invest because to them they don't have all the information they need before they can start investing, a delay that can cost good buying opportunities and the realization that gathering all these knowledge wasn't necessary comes sometimes after the time has already been spent and that's why here you will see alot of people trying to pass the information around that s person doesn't need to know everything before they can start investing.

Primarily, investment and gambling sometimes seems to be the same or look alike for the reason being that the both are associated with risk. Investment is more of long term goal, research and market analysis. Investment considers risk management and it is based on good strategy, knowledge and information about the investment. Gambling only depends more on hope of quick earning, hype and speculation.

Investment starts looking like gambling when investors going into Investment without good strategy, go into investment with a borrowed fund and with the fund they can not afford to lose. When investors takes action due to emotion without making proper consultation or analysis, implementing the information from social media in his  investment without good investigation and start nursing the ambition of make making quick profit, then the investment has already become gambling.

Investment and gambling are not the same thing and it is very wrong to compared gambling with investment. There is risk in investment but it can't be compared to that of gambling. Gambling is entirely based on luck and it is very risky. There is high potential of losing money in gambling than in investing.  It is the intense to make quick profit that is what push people into gambling and they fail to understand that gambling is very risky and is nothing compared to investment.

Anyone who thinks investment and gambling are the same thing should show me a gambler that wait patiently for years for a single bet they placed to play out, gambling is a short term profit scheming obsession that most often than not lead to loss, it shouldn't be compared to bitcoin investment.

[GIF-JOBS]

Primarily, investment and gambling sometimes seems to be the same or look alike for the reason being that the both are associated with risk. Investment is more of long term goal, research and market analysis. Investment considers risk management and it is based on good strategy, knowledge and information about the investment. Gambling only depends more on hope of quick earning, hype and speculation.

Investment starts looking like gambling when investors going into Investment without good strategy, go into investment with a borrowed fund and with the fund they can not afford to lose. When investors takes action due to emotion without making proper consultation or analysis, implementing the information from social media in his  investment without good investigation and start nursing the ambition of make making quick profit, then the investment has already become gambling.

Investment and gambling are not the same thing and it is very wrong to compared gambling with investment. There is risk in investment but it can't be compared to that of gambling. Gambling is entirely based on luck and it is very risky. There is high potential of losing money in gambling than in investing.  It is the intense to make quick profit that is what push people into gambling and they fail to understand that gambling is very risky and is nothing compared to investment.

Those who think that investing and gambling are the same, actually have no real idea about them. They do not really understand what is the type of investment and what is the type of gambling. If we do not understand these types, then we will never have the opportunity to make an effective investment. In gambling, everyone wants to make quick profits, and this attraction of quick profits often distracts people from reality, they make very big wrong decisions. And we can never get quick profits from any investment, and for this reason gambling and investing are completely different things. Seeing them as one is a big mistake and it can also create a confusing idea for beginners.

[Johnlomape]

Investment and gambling are not the same thing and it is very wrong to compared gambling with investment. There is risk in investment but it can't be compared to that of gambling. Gambling is entirely based on luck and it is very risky. There is high potential of losing money in gambling than in investing.  It is the intense to make quick profit that is what push people into gambling and they fail to understand that gambling is very risky and is nothing compared to investment.

Those who think that investing and gambling are the same, actually have no real idea about them. They do not really understand what is the type of investment and what is the type of gambling. If we do not understand these types, then we will never have the opportunity to make an effective investment. In gambling, everyone wants to make quick profits, and this attraction of quick profits often distracts people from reality, they make very big wrong decisions. And we can never get quick profits from any investment, and for this reason gambling and investing are completely different things. Seeing them as one is a big mistake and it can also create a confusing idea for beginners.

There are still people that are gambling with their investments and because they lack information, they are not aware about what they suopsed to be doing that will help their investments to grow gradually like a bit fetching water into a drum.
Since there are different types of investment, it is still the duty of investors to do research on how their investments can grow and become a successful one that people would be making enquires about. Not that is good comes easy and every hard work do have a payback time or result. We don't have to joke with our Bitcoin investment at all.

[Smartvirus]

Exactly,learning bitcoin doesn’t really matter as a beginner,most persons have found excuses on the aspect of “ learning bitcoin before investing”.There’s absolutely no time to check time,procrastination kills determination.

You don’t invest in a field you don’t know nothing about, that’s definitely one way to loose. Either you get used by the people whom are more inclined in the space or you make genuine beginner mistakes. That’s facts and it applies in all fields.

When they talk about doing some studies before investing in Bitcoin or cryptocurrency, it doesn’t necessarily mean you should go pro on it before being invested in it, no. You just need to under the very basics of it.

Lack of understanding is how you find people, beginners, novice in the space seeking out other persons to invest in Bitcoin for them and they get taken advantage of. This is something they can do by themselves but; their lack of “know how” makes them vulnerable. So, you need some level of education in the space at least.

[Joeboy]

~snip~

You don’t invest in a field you don’t know nothing about, that’s definitely one way to loose. Either you get used by the people whom are more inclined in the space or you make genuine beginner mistakes. That’s facts and it applies in all fields.

When they talk about doing some studies before investing in Bitcoin or cryptocurrency, it doesn’t necessarily mean you should go pro on it before being invested in it, no. You just need to under the very basics of it.

Lack of understanding is how you find people, beginners, novice in the space seeking out other persons to invest in Bitcoin for them and they get taken advantage of. This is something they can do by themselves but; their lack of “know how” makes them vulnerable. So, you need some level of education in the space at least.

You are mostly right, and yeah having some basic knowledge about Bitcoin is very crucial to kickstarting ones investments journey, and that's coz with basic knowledge can help folks be knowledgeable about certain things which can very well Help them to avoid certain(not all)  mistakes... For example someone who just rushed to invest in Bitcoin and he or she has no idea of it volatile nature,such ignorance can lead to them selling before reaching their original target simply because they assumed that long term growth may not be possible due to how the price is a waver...And that the more reason why basic knowledge is very important...

[JayJuanGee]

~snip~

You don’t invest in a field you don’t know nothing about, that’s definitely one way to loose. Either you get used by the people whom are more inclined in the space or you make genuine beginner mistakes. That’s facts and it applies in all fields.

When they talk about doing some studies before investing in Bitcoin or cryptocurrency, it doesn’t necessarily mean you should go pro on it before being invested in it, no. You just need to under the very basics of it.

Lack of understanding is how you find people, beginners, novice in the space seeking out other persons to invest in Bitcoin for them and they get taken advantage of. This is something they can do by themselves but; their lack of “know how” makes them vulnerable. So, you need some level of education in the space at least.

You are mostly right, and yeah having some basic knowledge about Bitcoin is very crucial to kickstarting ones investments journey, and that's coz with basic knowledge can help folks be knowledgeable about certain things which can very well Help them to avoid certain(not all)  mistakes... For example someone who just rushed to invest in Bitcoin and he or she has no idea of it volatile nature,such ignorance can lead to them selling before reaching their original target simply because they assumed that long term growth may not be possible due to how the price is a waver...And that the more reason why basic knowledge is very important...

Adults are capable of choosing whether to start investing and/or buying bitcoin and how much to start with based on their calculating the extent to which they have discretionary funds available to start.  

They can also choose by using their own judgement within their discretion regarding how much knowledge that they think that they need or don't need after they had calculated that they have discretionary funds available.  

For example, if the newbie bitcoiner concludes that their knowledge is low, then they can purposefully choose to invest (buy) a smaller amount of bitcoin than what they would have had bought in the event that they had concluded that their knowledge was high.  

In other words, they can choose their starting out position size based on their own determination of their comfort level, so your assertion that the newbie bitcoiner needs to know any particular supposedly "basic" thing beyond whether they have discretionary funds seems to be imposing your own ideas about what supposed "basic" things you believe are necessary in terms of their own judgement of their knowledge and/or their level of knowledge.

[Positive_mind]

And yes, you and your friend's story is just a typical example of why mental and behavioral control is not just that both are crucial, but it's what makes financial and risk management possible and worth it. Now you could note that why your two paths diverged at some point, even though both of you guys had the same goal at the start towards achieving a Bitcoin investment success, is that the only variable here is the change in your friends behavior or approach towards your individual investments.


When it comes to making investments, especially with digital assets, we should know that you should take your risk management  consideration because risk management will guide you into understanding and knowing how much you would lose in terms of your portfolio percentage allocation so you don't go and invest money you planned for some other things.

Secondly, your financial management matters a lot too because it tells your position sizing, how you should apply DCA, and keeping or setting up emergency funds at the very beginning.

Lastly, your behavioral control, even after applying risk management and financial control, would determine or decide whether you would actually do it. Let's say Bitcoin dumped to 20%-50%; would you panic sell or stick to your plan?