Investment Become Gambling

[Xackie]

[Edited Out]

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

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

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

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

[Mr_Brilliant$]

[Edited Out]

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

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

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

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

Na confirm thing you talk Xackie, me self I also believe say person nor need wait until e know everything about Bitcoin before e start investing, because if na so, plenty people no go ever start.. But I still feel say at least make person get small basic knowledge first, like how to buy safely, protect your account, and understand say Bitcoin price fit go up and down..
Learning nor suppose stop anybody from investing, but e fit save person from avoidable mistakes.. As the person dey invest, na so the learning fit continue gradually..

[Exitoral]

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

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

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

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

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

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

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

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

You are right but before figuring out a discretionary 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.

See eehh before we really dive into this knowledge of a thing, there's something I want to point out, first there's difference between basic and complete knowledge. A beginner needs not to know everything before he or she dive into investing in Bitcoin. The basic knowledge is necessary so as to prevent them from falling for any type of myopic scams. The risk comes when you buy with zero knowledge. Panic and FOMO comes as a result of you not knowing the actual purpose and what Bitcoin aims to achieve.

After the basic knowledge, learning becomes continuous as you follow along with your DCA. So I agree on both sides where you don't need to know before you start investing and  small small DCAing of an amount using  your discretionary income and continue learning as you go. Each way  has a point.

[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.

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

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

[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.

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

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

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

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

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

[Merit_x]

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

There are situations that you might not be able to avoid or control, but having a basic knowledge is very important, and I think we should be more wise in terms of making plans for investments, investing in Bitcoin is never blind, which is why it’s more important to keep investing and buying bitcoin regularly when you have the opportunity to do so, well you’re not talking about mining here, rather is buying bitcoin, what is talking about cryptography how is that connected to the discussion here.

[laijsica]

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

There are situations that you might not be able to avoid or control, but having a basic knowledge is very important, and I think we should be more wise in terms of making plans for investments, investing in Bitcoin is never blind, which is why it’s more important to keep investing and buying bitcoin regularly when you have the opportunity to do so, well you’re not talking about mining here, rather is buying bitcoin, what is talking about cryptography how is that connected to the discussion here.

You don't need technical knowledge to invest in Bitcoin. If you want to expand your knowledge base, you can do it independently. You need a discretionary income to start with Bitcoin. Being wise is important but having basic knowledge is most important to start Bitcoin.

Instead of spending extra time acquiring technical knowledge or being wise in investing, you should continue to accumulate Bitcoin through discretionary income and learn about Bitcoin along with market analysis.

[Charcol]

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.

There is no need for so-called basic knowledge before starting. You can determine your discretionary income or if you have discretionary income, then learning so-called basic knowledge can be an excuse. After starting, you can make your own decisions. Seeking so-called basic knowledge without starting is a waste of time. But after starting with small amounts, you will get the opportunity to learn from your own real experience. You will even understand what decisions you have to make. If you do not know about self-custody, security, wallets at the beginning, then you can start from the exchange. Then you can continue saving on the exchange for a few weeks or months until you can ensure your security. Then when you are ready to make your own decisions, you can transfer to your own wallet.

[SPIDERMAN008]

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

There are situations that you might not be able to avoid or control, but having a basic knowledge is very important, and I think we should be more wise in terms of making plans for investments, investing in Bitcoin is never blind, which is why it’s more important to keep investing and buying bitcoin regularly when you have the opportunity to do so, well you’re not talking about mining here, rather is buying bitcoin, what is talking about cryptography how is that connected to the discussion here.

It is true that investing in Bitcoin does not require deep technical knowledge, but basic knowledge is important. But many people do not know or understand what this basic knowledge is. For example, you need to have a proper understanding of the fact that Bitcoin is a very volatile asset and its price fluctuates a lot in a short time. In addition, when investing in Bitcoin, you need to invest in Bitcoin according to a 4 to 10 year plan according to fund management and proper planning. And to protect yourself from panic selling or force selling in the future, you should do DCA from discretionary income and create a back up fund accoutring to expense of 3 to 6 months. It is very important to know these basic things and follow them before investing in Bitcoin. So basic knowledge is needed, but that basic knowledge does not mean becoming a technical expert. For beginners, investing requires an understanding of financial management.

[JayJuanGee]

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.

I think that you have quite a few of the right ideas @Jasmyne, which largely involves getting started and learning along the way.

I think that you also seem to be placing too much importance on the ideas of "basic knowledge" when the most important thing is for the beginner to make sure that he is starting out to invest in bitcoin from his discretionary funds, and if he has some basic judgement abilities, he should come to a conclusion that is better to start out slow and to learn as you go (as you suggested), which also means that maybe he decides to regularly start to buy a relatively low amount of bitcoin while he is spending time learning at the same time, and yeah, some people are busy and they might not have a lot of time that they can dedicate towards learning, which also might mean that they can pace themselves in their starting out amount while they are identifying which areas they feel that they need to learn more about which may well include strengthening cashflow management practices while learning about bitcoin at the same time.

It can also take some time to identify good sources for both bitcoin information and cashflow management information, which gets us back to both practice (like you mentioned) and also maybe the bitcoin newbie spending some time projecting out where he might want to be in 1-2 years, 5 years, 10 years and perhaps some other ways of thinking about these matters, including considering that shorter term timelines are more actionable and that sometimes guys are on the path towards being able to project out longer timelines, yet they also might likely have a lot of uncertainties in their abilities to project out for longer periods of time depending on their current income and expense situation and even their future (hopefully realistic) expectations of income and/or expenses.

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

There are situations that you might not be able to avoid or control, but having a basic knowledge is very important, and I think we should be more wise in terms of making plans for investments, investing in Bitcoin is never blind, which is why it’s more important to keep investing and buying bitcoin regularly when you have the opportunity to do so, well you’re not talking about mining here, rather is buying bitcoin, what is talking about cryptography how is that connected to the discussion here.

It is true that investing in Bitcoin does not require deep technical knowledge, but basic knowledge is important. But many people do not know or understand what this basic knowledge is. For example, you need to have a proper understanding of the fact that Bitcoin is a very volatile asset and its price fluctuates a lot in a short time. In addition, when investing in Bitcoin, you need to invest in Bitcoin according to a 4 to 10 year plan according to fund management and proper planning. And to protect yourself from panic selling or force selling in the future, you should do DCA from discretionary income and create a back up fund accoutring to expense of 3 to 6 months. It is very important to know these basic things and follow them before investing in Bitcoin. So basic knowledge is needed, but that basic knowledge does not mean becoming a technical expert. For beginners, investing requires an understanding of financial management.

You are greatly exaggerating (and patronizing) in regards to what you consider basic knowledge that is sufficient enough to get started buying bitcoin.  The main requirement to get started buying bitcoin is the availability of discretionary funds, and if a person has common sense (or an ability to exercise reasonable judgement) it is likely that the beginner bitcoiner can both get started and also figure out that there are needs to build and maintain back up funds to the extent that the beginner does not already have back up funds in place.

Surely any beginner bitcoiner might determine that he has discretionary funds, and even figure out from where he is going to start to source his bitcoin purchases, such as on an exchange or perhaps by buying directly from someone, yet at the same time, the beginner bitcoiner might determine that he wants to feel more comfortable either about bitcoin and/or about figuring out his expected cashflow and/or the extent to which he is just starting with one initial purchase or maybe if he might decide to buy bitcoin every week while he is studying bitcoin - which might also cause some needs to figure out how much time per week he will have to look into bitcoin (and/or look into his cashflow management situation) in the coming weeks.

Some newbie bitcoiners might not realize the difference between investing and trading or even bitcoin and shitcoins, so they might want to become more comfortable with those matters, and they might even come accross information that relates to figuring out their 9 individual factors, and even though I would assert that they do not need to know the details of their 9 individual factors prior to getting started buying bitcoin, they still might consider it to be in their interest to spend a bit of time considering what their individual factors might be at the time that they are considering getting started buying bitcoin even though they might have to go into more detail in figuring them out at later dates and as they might begin to buy bitcoin perhaps on a weekly basis or some other time period they might consider to be reasonably suited to their cashflow situation.

[The Founding Titan]

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

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

[Nwaswago]

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

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

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

[Halifat]

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

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

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

[BluebloodCXVI]

It is true that investing in Bitcoin does not require deep technical knowledge, but basic knowledge is important. But many people do not know or understand what this basic knowledge is. For example, you need to have a proper understanding of the fact that Bitcoin is a very volatile asset and its price fluctuates a lot in a short time. In addition, when investing in Bitcoin, you need to invest in Bitcoin according to a 4 to 10 year plan according to fund management and proper planning. And to protect yourself from panic selling or force selling in the future, you should do DCA from discretionary income and create a back up fund accoutring to expense of 3 to 6 months. It is very important to know these basic things and follow them before investing in Bitcoin. So basic knowledge is needed, but that basic knowledge does not mean becoming a technical expert. For beginners, investing requires an understanding of financial management.

Isn’t it ironical that you said newbies don’t need technical or deep knowledge about bitcoin before kickstarting their journey but you still went ahead to make a long checklist of conditions like it’s a marriage list or something 😄

Most of these requirements that you have mentioned are more like personal financial strategies and best practices but they are not prerequisites needed before a newbie can start investing in bitcoin so there’s no need for you to exaggerate it.

The basic knowledge a newbie needs to have before starting to ongoingly invest is to know what bitcoin is(that includes its volatile nature), where and how to buy it, and how to secure it properly. Recommendations for newbies to use DCA strategy and have emergency funds or learning about scams are valuable but they should be secondary and should not be presented as mandatory requirements before someone can start investing.

Also, there’s no law that says you must have 3-6 months of emergency funds before you can invest, that’s BS.
Sort out your emergency funds in accordance to how much discretionary income you have available to you and save it simultaneously as you’re also stacking up sats.

[liasbaa]

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

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

If beginners knew that the process of starting Bitcoin is not complicated, they could have started much earlier. Everyone has a fear of making mistakes when starting something new, they seek help from others until they can understand the matter better.

To start Bitcoin it is important to have a basic understanding of this digital asset. Having a discretionary income is the second most important priority. How much discretionary income you have available is not the main consideration. Focus your efforts on starting successfully and staying consistent because by accumulation Bitcoin for the long term, you can become a successful investor by building a worthy holding.

The time required to acquire general knowledge about Bitcoin depends on the acquisition of personal knowledge, but in general it is not a very complicated matter. Just know the basic knowledge and sources of buying for maintaining digital assets. Also consider the accumulation period to gain technical knowledge about Bitcoin.

[ruykeri]

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

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

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

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

[ASloveapg]

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

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

Starting Bitcoin investment is very easy, it is never difficult, for those who can take it easy, it is very easy, but if you think it is very complicated, then it is very complicated for you, so it depends on you, if you see it as a weekly and understand it easily, it is very easy for you. Getting the initial idea is never a difficult thing. We can easily get the initial idea and then drive the investment, and maintain the investment consistently, and in this way we can take ourselves deeper in terms of knowledge. But we do not have to face any complications in starting, rather we can start very easily.

[Merit_x]

[Edited Out]

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

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

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

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

Na confirm thing you talk Xackie, me self I also believe say person nor need wait until e know everything about Bitcoin before e start investing, because if na so, plenty people no go ever start.. But I still feel say at least make person get small basic knowledge first, like how to buy safely, protect your account, and understand say Bitcoin price fit go up and down..
Learning nor suppose stop anybody from investing, but e fit save person from avoidable mistakes.. As the person dey invest, na so the learning fit continue gradually..

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

[Proty]

It is true that investing in Bitcoin does not require deep technical knowledge, but basic knowledge is important. But many people do not know or understand what this basic knowledge is. For example, you need to have a proper understanding of the fact that Bitcoin is a very volatile asset and its price fluctuates a lot in a short time. In addition, when investing in Bitcoin, you need to invest in Bitcoin according to a 4 to 10 year plan according to fund management and proper planning. And to protect yourself from panic selling or force selling in the future, you should do DCA from discretionary income and create a back up fund accoutring to expense of 3 to 6 months. It is very important to know these basic things and follow them before investing in Bitcoin. So basic knowledge is needed, but that basic knowledge does not mean becoming a technical expert. For beginners, investing requires an understanding of financial management.

Isn’t it ironical that you said newbies don’t need technical or deep knowledge about bitcoin before kickstarting their journey but you still went ahead to make a long checklist of conditions like it’s a marriage list or something 😄

Most of these requirements that you have mentioned are more like personal financial strategies and best practices but they are not prerequisites needed before a newbie can start investing in bitcoin so there’s no need for you to exaggerate it.

The basic knowledge a newbie needs to have before starting to ongoingly invest is to know what bitcoin is(that includes its volatile nature), where and how to buy it, and how to secure it properly. Recommendations for newbies to use DCA strategy and have emergency funds or learning about scams are valuable but they should be secondary and should not be presented as mandatory requirements before someone can start investing.

Also, there’s no law that says you must have 3-6 months of emergency funds before you can invest, that’s BS.
Sort out your emergency funds in accordance to how much discretionary income you have available to you and save it simultaneously as you’re also stacking up sats.

Even the things you have mentioned aren't what is needed by a newbie before they can start investing in bitcoin. Just the basic knowledge on how to be able to figure out if they have discretionary income to invest with. A newbie doesn't necessarily need to know or learn about scams and how to secure bitcoin before they can start. Once they have figured out there discretionary income then they can start accumulating bitcoin.

[Jamestown70]

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

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

From my opinion, the major things about basic knowledge a newbie Bitcoiner should now is how to sort out their discretionary fund, where to buy their Bitcoin and where to safely store it, every other knowledge can be gotten during the investment process.
A guy might decide to be whimpily accumulating during his learning process and that’s ok as long as he’s consistently buying Bitcoin.
Secondly, the pace at which individual grasp things differs, there’re persons that might read and understand in few hours and some might take a day or two to really decipher what is being read, going through it on and on, picturing themselves in such situation and imagining how it’ll turn out. But that doesn’t mean it should take longer than necessary.