Investment Become Gambling

[ZeroVinsonN]

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.

[Alonso_]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

[liasbaa]

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.

This is the beginning of a problem for new investors because they are in the mood to get rich in a short time. In fact their motivation is very short lived. They think that the knowledge they have gained about Bitcoin is enough in the short term. They start taking risks without any backup funds available. If it is easy for you to start accumulating Bitcoin out of curiosity it will not be difficult to run DCA method in the long term. Just make sure you have discretionary income at the end of the week. Having a small amount of discretionary income every week is a great way to stay consistent in accumulating Bitcoin. You do DCA without having to learn much before starting Bitcoin because you have a lot of time available to learn about Bitcoin.

[Jasmyne]

Year 2023. I started investing in Bitcoin. The market has fluctuated many times until now. However, I have always had a long-term goal. Although I had to sell once due to circumstances, but I started investing again.

However, a few weeks after my investment, a close friend of mine also started investing. He also talked about long-term investment. Our goals were similar. However, even though the goals were the same, our behavior was not the same over time, and this is where the difference between investment and gambling was created.

He start take profits when price increased. After doing this a few times, he started monitoring the market regularly and analyzing the opinions of YouTube and Telegram. At one point, he started making decisions with the market fluctuations. Sometimes he would buy out of FOMO and sometimes he would sell out of panic. In this way, he would make profits at times and sometimes he would lose.

 Even when I warned him about such behavior, he  misunderstand me that maybe I did not want to let him make a profit.
However, at one point, after significant financial loss, he realized his mistake. The problem was in his behavior.  He had the ability to continue investing well in the long term and even though he started investing with this intention, due to his inability to control his behavior, the investment turned into a gamble. 

Do you think that mental and behavioral control are similar important with financial management, risk management  in investing?

✨

Experience is the best teacher and experience also allows people make mistakes and learn from their mistakes also, that’s why you should never force anybody to make any decision in bitcoin investment. People are entitled to their decision and with time they will get to learn if they took the right or bad decision.

If long term is the goal, stick to long term and I will highly recommend long term. But to maintain long term, financial discipline is important, patience is important and lastly self control is important because they will help you stay focused.

[sotelorene]

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.

This is the beginning of a problem for new investors because they are in the mood to get rich in a short time. In fact their motivation is very short lived. They think that the knowledge they have gained about Bitcoin is enough in the short term. They start taking risks without any backup funds available. If it is easy for you to start accumulating Bitcoin out of curiosity it will not be difficult to run DCA method in the long term. Just make sure you have discretionary income at the end of the week. Having a small amount of discretionary income every week is a great way to stay consistent in accumulating Bitcoin. You do DCA without having to learn much before starting Bitcoin because you have a lot of time available to learn about Bitcoin.

The moment you start risking in Bitcoin it means that you are no longer investing in Bitcoin but trading or gambling with Bitcoin because a trader will not risk anything simply because they feel they can outsmart the market. However, anyone who is risking in Bitcoin doesn't really need backup funds because they are already not Investing and the truth is that the chances of the person becoming successful in that will be very little because in trading you can burn your account just in a minute.

[Halifat]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

It is very important to have a discretionary income when you come to invest in Bitcoin because it is not a short time investment that you would like to risk everything, it is very dangerous for anyone to invest in Bitcoin outside is discretionary income because you have putting something that will harm your investment, if the necessary things that need to be done arises you can see that you have no choice rather than to Deep hand into your investment, in this case it is very dangerous because you don't know what the price might have been at that particular time, but most time the price used to be down and that is how you lose part of your investment.

[GIF-JOBS]

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.

If someone invests only out of greed, looking only at the success of others, then their investment will never be able to survive the reality of the market, because their investment made out of greed and excitement will lead to wrong decisions as soon as they see the market volatility. If we want to consistently sustain investment against market volatility, we must first understand the market realistically, when an investor makes an investment decision after considering the risk well, then market volatility cannot easily upset him. Finally, you should never invest beyond your capabilities, because taking excessive risks can put you under a lot of mental stress, where you will be more likely to face failure.

[Jostern]

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.

[Nwaswago]

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.

[Umulala-alala]

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.

[Zanab247]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

It is very important to have a discretionary income when you come to invest in Bitcoin because it is not a short time investment that you would like to risk everything, it is very dangerous for anyone to invest in Bitcoin outside is discretionary income because you have putting something that will harm your investment, if the necessary things that need to be done arises you can see that you have no choice rather than to Deep hand into your investment, in this case it is very dangerous because you don't know what the price might have been at that particular time, but most time the price used to be down and that is how you lose part of your investment.

You can choose to make it short time investment or long time investment but it depend on your financial status, because if you have money I guess you will invest in BTC and hodl for long years before you can choose to sell or wait for the price to pump higher. If you don't want anything to hurt your investment in the future, make sure you have other sources of income that will be making you not to sell than to continue hodling your BTC till you are satisfy.

It may look like gambling but BTC investment is not gambling, because you can decide to earn profit and not to earn profit from the investment. There are many coins in the market but if you chose BTC investment it will going to create opportunity that will boost your financial status.

[yixichloro2xx]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

It is very important to have a discretionary income when you come to invest in Bitcoin because it is not a short time investment that you would like to risk everything, it is very dangerous for anyone to invest in Bitcoin outside is discretionary income because you have putting something that will harm your investment, if the necessary things that need to be done arises you can see that you have no choice rather than to Deep hand into your investment, in this case it is very dangerous because you don't know what the price might have been at that particular time, but most time the price used to be down and that is how you lose part of your investment.

One of the basic rules of investing is that whatever money someone uses to invest in Bitcoin should not affect your daily needs or put you under financial pressure. The chances of panicking during market drops is low, if someone invested with money that they can afford to lose. But anyone that still panics even after investing with  proper funds, that means they need to work on their emotions and mindset. The market will always have good and bad times, investors must learn how to be prepared for both by planning their finances, gaining more knowledge about Bitcoin, and also having prudent savings.

[Hardyrobust]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

It is very important to have a discretionary income when you come to invest in Bitcoin because it is not a short time investment that you would like to risk everything, it is very dangerous for anyone to invest in Bitcoin outside is discretionary income because you have putting something that will harm your investment, if the necessary things that need to be done arises you can see that you have no choice rather than to Deep hand into your investment, in this case it is very dangerous because you don't know what the price might have been at that particular time, but most time the price used to be down and that is how you lose part of your investment.

You can choose to make it short time investment or long time investment but it depend on your financial status, because if you have money I guess you will invest in BTC and hodl for long years before you can choose to sell or wait for the price to pump higher. If you don't want anything to hurt your investment in the future, make sure you have other sources of income that will be making you not to sell than to continue hodling your BTC till you are satisfy.

It may look like gambling but BTC investment is not gambling, because you can decide to earn profit and not to earn profit from the investment. There are many coins in the market but if you chose BTC investment it will going to create opportunity that will boost your financial status.

I think anyone that doesn't have the discretionary income to invest and hold bitcoin for a long time isn't ready to invest in bitcoin. So if there financial situation will make them to hold bitcoin for a short term which same as trading bitcoin, they may as well avoid investing in bitcoin because they are exposing their income to a greater risky. If someone financial situation will make them to hold bitcoin only for a short term, they are not supposed to be investing in bitcoin and it shows that they may not be using there discretionary income for this purpose.

[Tmoonz]

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.

If someone invests only out of greed, looking only at the success of others, then their investment will never be able to survive the reality of the market, because their investment made out of greed and excitement will lead to wrong decisions as soon as they see the market volatility. If we want to consistently sustain investment against market volatility, we must first understand the market realistically, when an investor makes an investment decision after considering the risk well, then market volatility cannot easily upset him. Finally, you should never invest beyond your capabilities, because taking excessive risks can put you under a lot of mental stress, where you will be more likely to face failure.

Looking at the success of others should not be the only reason why anyone should invest and it is very wrong if anyone should follow on this part, while other people success will motivate or encourage you it is also important to take consideration of the potential risk which of course will also influence your decision making, you don't just wake one morning and want to be like the next person overnight without realizing that there was prices and sacrifices made, every steps of greed to be like the next person will always end badly and brutally because the pressure to become like the other person overnight will destroy you, parts of the realistic thing anyone should understand is that the market is volatile, Bitcoin is not a quick money making scheme and always use your discretionary income to invest while holding for the long term.

[samadam007]

The moment you start risking in Bitcoin it means that you are no longer investing in Bitcoin but trading or gambling with Bitcoin because a trader will not risk anything simply because they feel they can outsmart the market. However, anyone who is risking in Bitcoin doesn't really need backup funds because they are already not Investing and the truth is that the chances of the person becoming successful in that will be very little because in trading you can burn your account just in a minute.

Your argument is not adding up at all. If every Bitcoin investment carry risks, how does taking risk suddenly make one a trader or gambler ? Are you saying real investors don’t face any risk?
And how can you tell folks that they don't need to have backup funds ? That is one of the worst financial advice to follow. Incase you don’t know…unexpected expenses don't disappear just because has BTC.

Long term BTC investing is about buying and accumulating within your means, MANAGING RISKS, keeping emergency funds and leaving your investment time to grow over time

[laijsica]

Investment becomes a problem when you don’t invest within your discretionary income, probably you’re investing outside your discretionary income, money that is meant for your daily expenses and you’re using it for buying Bitcoin, then at that point you’re gambling with your bitcoin investment, the best way to invest in bitcoin is with your discretionary income, money that you can afford to loose in anyways that it happens you have to try and have a discretionary income before you can probably make an investment which can be a possibility for a different reason in the future.

It is very important to have a discretionary income when you come to invest in Bitcoin because it is not a short time investment that you would like to risk everything, it is very dangerous for anyone to invest in Bitcoin outside is discretionary income because you have putting something that will harm your investment, if the necessary things that need to be done arises you can see that you have no choice rather than to Deep hand into your investment, in this case it is very dangerous because you don't know what the price might have been at that particular time, but most time the price used to be down and that is how you lose part of your investment.

One of the basic rules of investing is that whatever money someone uses to invest in Bitcoin should not affect your daily needs or put you under financial pressure. The chances of panicking during market drops is low, if someone invested with money that they can afford to lose. But anyone that still panics even after investing with  proper funds, that means they need to work on their emotions and mindset. The market will always have good and bad times, investors must learn how to be prepared for both by planning their finances, gaining more knowledge about Bitcoin, and also having prudent savings.

If you can continue to save regularly during the price decline in the Bitcoin market, then you need to understand that you are in the right investment position. The time of price decline is a time of panic for some investors because they may have accumulate Bitcoin with the necessary amount of funds. To be in a mentally strong position from the moment of panic in the market, deposit Bitcoin in the DCA method through discretionary income because it is the best strategy to invest regularly even if the amount is small. The tendency to sell Bitcoin holdings for small profits during price increases will also not allow you to reach the target set for you. You should make every effort to maintain the continuity of Bitcoin investment because regardless of the amount of money, depositing Bitcoin regularly in the DCA method is one of the best ways to get decent holdings.

[Jasmyne]

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.

Definitely no one can know it all and anybody who wait to know it all before investing in bitcoin might end up not investing. In bitcoin investment, what you need to have as a beginner is the basic knowledge of bitcoin, your discretionary funds, clear understanding of risk and then you start investing and gradually in your investment journey you get to know more and more. Knowing it all before investing doesn’t mean someone cannot make mistakes or take the wrong decision during investment, even most expert at times make wrong decisions in their journey and they learn from their mistakes.
I believe experience is the best teacher, don’t wait for too long before starting your bitcoin investment, the basic knowledge you’ve got about bitcoin, is very okay for any investor to invest.

[The Founding Titan]

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.

[Tonimez]

[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.

[Derekfunds]

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.