Investment Become Gambling

[JayJuanGee]

[edited out]

I think both sides are emphasizing different stages of the same journey. Getting started is important because experience teaches lessons that theory alone cannot. At the same time, a beginner should not mistake start now for start blindly.
Before buying Bitcoin, knowing the basics,like why Bitcoin exists, its volatility, self-custody, and only investing discretionary income helps prevent avoidable mistakes. You don't need expert-level knowledge, but you should understand enough to make an informed decision.After that, learning and accumulating can happen simultaneously. In my view, investment and education should complement each other, not compete. Starting with a small DCA while continuously learning strikes a balance between avoiding analysis paralysis and avoiding unnecessary mistakes.

There is value in starting out slowly and learning as you go, but there is no need to know why bitcoin exists, its volatility and/or self custody, before starting, since those can be learned as you go, and also if you don't know those things, the beginner can choose to start out with buying $30 in bitcoin rather than $100.  It is his choice, and he does not have to learn the things that you mentioned as long as he determines that he has discretionary funds, he can get started buying bitcoin, adjust his starting position to his comfort level and study as he goes.

I completely understand now,I presumed it's important you have those knowledge before you start because knowing those things I listed don't necessarily have to take time(could be between few hours)

How do you know how much time it takes for someone to learn any particular thing and become comfortable with the thing that they learn.

In the end, we have individual human judgement, and they should be able to make determinations in regards to what they know or do not know and the extent to which their knowledge or lack of knowledge needs to be taken into account in regards to whether or not they start buying bitcoin and how much bitcoin they end up choosing to buy in their first purchase.

, just information that could guild the chioces you'll make before you start

You are making up categories that are not needed and the person can decide if they need to know that or not, and for example, if they look at the bitcoin price chart and they spend 2 minutes looking at it, then they can determine if they sufficiently understand the volatility or not, and maybe if they are concerned about how volatile it might be, then they might choose to put an amount of money into bitcoin that they can afford to lose so that they are not overly attached to whether the BTC price goes up, down or sideways within the timeline that they are learning more about bitcoin and before they decide to make their next BTC purchase, whether that is weekly or within some other period of time.

and as you go through bitcoin investment but it's obvious discretionary income is very important at the point to start up.

Of course, there is a need to use discretionary money, and discretionary money means that they can use that money for whatever they want including but not limited to burning it in a trashcan.  Discretionary means they have choices of how to use the money.

Many times we talk about discretionary funds in terms of their being able to be used to invest, save or discretionarily consume.  If a person knows that he has $100 in discretionary funds every week, he could decide to put $33.33 in each of the three categories or he could choose some other allocation.  It is up to him.

[ruykeri]

Between investment and trading which one is more comparable to gambling? I definitely agree that trading isn't gambling but when compared to investing in bitcoin one can say that trading is much closer to gambling than investing is, there's risk involved in everything thing that we do and that includes bitcoin investment which is why we should invest with money we can afford to lose because the chances that we are going to lose it might not be high compared to the chance of success but it is still not zero but those chances are much higher with trading, it's much easier to lose your money to it than to gain from it making it more comparable to gambling than bitcoin investment is.

A Bitcoin investor usually builds holdings for 4-10 years or more by buying from his discretionary income. His main goal is not to predict the price movement of the next few hours or weeks. And to me, trading is a kind of gambling. Where a person is constantly buying and selling Bitcoin. Especially when someone wants to sell Bitcoin and buy it lower, he is betting on an uncertain future price, leaving the certain Bitcoin in his hand. And having some success in Bitcoin trading creates a lot of confidence. Which later leads to over-aggressive trading mindset. This causes them to lose a lot of money. Trading and gambling are exactly the same thing in my opinion . Rather, trading works more dangerously in some cases. That is why in the case of Bitcoin, you should move forward with the mindset of investing regularly and holding for a long time.

[ZeroVinsonN]

[edited out]

I think both sides are emphasizing different stages of the same journey. Getting started is important because experience teaches lessons that theory alone cannot. At the same time, a beginner should not mistake start now for start blindly.
Before buying Bitcoin, knowing the basics,like why Bitcoin exists, its volatility, self-custody, and only investing discretionary income helps prevent avoidable mistakes. You don't need expert-level knowledge, but you should understand enough to make an informed decision.After that, learning and accumulating can happen simultaneously. In my view, investment and education should complement each other, not compete. Starting with a small DCA while continuously learning strikes a balance between avoiding analysis paralysis and avoiding unnecessary mistakes.

There is value in starting out slowly and learning as you go, but there is no need to know why bitcoin exists, its volatility and/or self custody, before starting, since those can be learned as you go, and also if you don't know those things, the beginner can choose to start out with buying $30 in bitcoin rather than $100.  It is his choice, and he does not have to learn the things that you mentioned as long as he determines that he has discretionary funds, he can get started buying bitcoin, adjust his starting position to his comfort level and study as he goes.

If they are still starting out they can decide to use a much smaller percentage of the discretionary income to invest in bitcoin, that percentage can be increased later on when they've gotten a better handle on what bitcoin is but they shouldn't delay they investment because the think they still have more to learn about bitcoin, starting slowly and increasing how much they invest with time, it will be a good way to also build experience, something they will never get if they spend all their time trying to learn.

[Primark]

I think both sides are emphasizing different stages of the same journey. Getting started is important because experience teaches lessons that theory alone cannot. At the same time, a beginner should not mistake start now for start blindly.
Before buying Bitcoin, knowing the basics,like why Bitcoin exists, its volatility, self-custody, and only investing discretionary income helps prevent avoidable mistakes. You don't need expert-level knowledge, but you should understand enough to make an informed decision.After that, learning and accumulating can happen simultaneously. In my view, investment and education should complement each other, not compete. Starting with a small DCA while continuously learning strikes a balance between avoiding analysis paralysis and avoiding unnecessary mistakes.

While it is important to learn the things you mentioned, it is not mandatory to learn everything before starting. If someone has discretionary income, then they can feel free to start. If someone waits for years to learn the basics, then it may not be a good decision. You are right that expert level knowledge is not required. However, if someone sits with an excuse to learn the basics, then they may regret it later. If someone does not know about their own wallet, self-custody, scams, then they can start with small amounts from the exchange and at the same time learn the basics gradually. In this, they get the opportunity to learn from real experience.

[The Founding Titan]

[edited out]

I think both sides are emphasizing different stages of the same journey. Getting started is important because experience teaches lessons that theory alone cannot. At the same time, a beginner should not mistake start now for start blindly.
Before buying Bitcoin, knowing the basics,like why Bitcoin exists, its volatility, self-custody, and only investing discretionary income helps prevent avoidable mistakes. You don't need expert-level knowledge, but you should understand enough to make an informed decision.After that, learning and accumulating can happen simultaneously. In my view, investment and education should complement each other, not compete. Starting with a small DCA while continuously learning strikes a balance between avoiding analysis paralysis and avoiding unnecessary mistakes.

There is value in starting out slowly and learning as you go, but there is no need to know why bitcoin exists, its volatility and/or self custody, before starting, since those can be learned as you go, and also if you don't know those things, the beginner can choose to start out with buying $30 in bitcoin rather than $100.  It is his choice, and he does not have to learn the things that you mentioned as long as he determines that he has discretionary funds, he can get started buying bitcoin, adjust his starting position to his comfort level and study as he goes.

I completely understand now,I presumed it's important you have those knowledge before you start because knowing those things I listed don't necessarily have to take time(could be between few hours), just information that could guild the chioces you'll make before you start and as you go through bitcoin investment but it's obvious discretionary income is very important at the point to start up.

You presumed wrong, you definitely don't need to know why bitcoin exists, how volatile it can be and even know about self custody before you can start buying, all of these knowledge always come later, what you should prioritize is your investment and all you need to do it is your discretionary income, once you've been able to figure that out you can start investing and then while you are already investing you can then try to learn other things that are involved but you absolutely don't need to before you can start buying bitcoin.

[icebar]

[edited out]

I think both sides are emphasizing different stages of the same journey. Getting started is important because experience teaches lessons that theory alone cannot. At the same time, a beginner should not mistake start now for start blindly.
Before buying Bitcoin, knowing the basics,like why Bitcoin exists, its volatility, self-custody, and only investing discretionary income helps prevent avoidable mistakes. You don't need expert-level knowledge, but you should understand enough to make an informed decision.After that, learning and accumulating can happen simultaneously. In my view, investment and education should complement each other, not compete. Starting with a small DCA while continuously learning strikes a balance between avoiding analysis paralysis and avoiding unnecessary mistakes.

There is value in starting out slowly and learning as you go, but there is no need to know why bitcoin exists, its volatility and/or self custody, before starting, since those can be learned as you go, and also if you don't know those things, the beginner can choose to start out with buying $30 in bitcoin rather than $100.  It is his choice, and he does not have to learn the things that you mentioned as long as he determines that he has discretionary funds, he can get started buying bitcoin, adjust his starting position to his comfort level and study as he goes.

I completely understand now,I presumed it's important you have those knowledge before you start because knowing those things I listed don't necessarily have to take time(could be between few hours), just information that could guild the chioces you'll make before you start and as you go through bitcoin investment but it's obvious discretionary income is very important at the point to start up.

You presumed wrong, you definitely don't need to know why bitcoin exists, how volatile it can be and even know about self custody before you can start buying, all of these knowledge always come later, what you should prioritize is your investment and all you need to do it is your discretionary income, once you've been able to figure that out you can start investing and then while you are already investing you can then try to learn other things that are involved but you absolutely don't need to before you can start buying bitcoin.

If you want to start investing, you need to ensure discretionary income. And the investor should have an idea about the type of asset he is investing in and the market situation. Because if someone does not have the right perspective in the case of volatile assets like Bitcoin, unrealistic expectations can be a danger for them, so they should invest with realistic expectations by knowing the basics of Bitcoin. If the investor does not know about its volatility, the price fluctuations will scare him. Sometimes it can fall up to 30,40,50% and if the investor faces a big fall that he had no idea about, then naturally he will sell at a loss.

After starting investing, it is important to gradually learn about safe storage methods. It is important not only to buy but also to know how to store it safely. It is not necessary to learn everything at the beginning, learning with practical experience may be more necessary. However, the risk of making wrong decisions in investment may increase if there is no discretionary income to invest, no minimum idea about Bitcoin and no long-term mental preparation. Learning and investing can go hand in hand but buying blindly without knowing anything can be risky for new investors. So, a minimum of knowledge and caution about Bitcoin before investing can protect an investor from unnecessary losses.

[Proty]

[edited out]

I think both sides are emphasizing different stages of the same journey. Getting started is important because experience teaches lessons that theory alone cannot. At the same time, a beginner should not mistake start now for start blindly.
Before buying Bitcoin, knowing the basics,like why Bitcoin exists, its volatility, self-custody, and only investing discretionary income helps prevent avoidable mistakes. You don't need expert-level knowledge, but you should understand enough to make an informed decision.After that, learning and accumulating can happen simultaneously. In my view, investment and education should complement each other, not compete. Starting with a small DCA while continuously learning strikes a balance between avoiding analysis paralysis and avoiding unnecessary mistakes.

There is value in starting out slowly and learning as you go, but there is no need to know why bitcoin exists, its volatility and/or self custody, before starting, since those can be learned as you go, and also if you don't know those things, the beginner can choose to start out with buying $30 in bitcoin rather than $100.  It is his choice, and he does not have to learn the things that you mentioned as long as he determines that he has discretionary funds, he can get started buying bitcoin, adjust his starting position to his comfort level and study as he goes.

If they are still starting out they can decide to use a much smaller percentage of the discretionary income to invest in bitcoin, that percentage can be increased later on when they've gotten a better handle on what bitcoin is but they shouldn't delay they investment because the think they still have more to learn about bitcoin, starting slowly and increasing how much they invest with time, it will be a good way to also build experience, something they will never get if they spend all their time trying to learn.

 it is far more better or safer for a newbie or someone that is just starting to invest in bitcoin to start with a smaller percentage of there discretionary income instead of delaying to start investing in bitcoin. The feeling that they needs to gain more knowledge about bitcoin  may actually make most beginners not to start investing in bitcoin due to fear of losing their money but the safer thing is for them to start with a smaller percentage . The best way to learn about bitcoin is to start investing in bitcoin using smaller amounts of money and then they can increase how much they allocate to bitcoin whenever they feel that there knowledge about bitcoin has improved.

[Son Of Blockchain (SOB)]

It is far more better or safer for a newbie or someone that is just starting to invest in bitcoin to start with a smaller percentage of there discretionary income instead of delaying to start investing in bitcoin. The feeling that they needs to gain more knowledge about bitcoin  may actually make most beginners not to start investing in bitcoin due to fear of losing their money but the safer thing is for them to start with a smaller percentage . The best way to learn about bitcoin is to start investing in bitcoin using smaller amounts of money and then they can increase how much they allocate to bitcoin whenever they feel that there knowledge about bitcoin has improved.

It mustn't necessarily be a small percent, the amount used for discretionary depends on what's left after settling essentials and every investor should know how to manage their cashflow and also figure the amount they can comfortably put into Bitcoin investment consistently  but if anyone wants to starts small even though the person has enough to invest more without affecting other expenses then it's the person's choice.
 You don't need perfection to determine the amount used for investment, the more an investor keep buying and holding the more the person tend to gather more experience so is there any need of starting small when your idea for investing is to hold for long term? Except maybe the person is not fully convinced that Bitcoin is for long term but starting small based on trial.

[JayJuanGee]

[edited out]

If you want to start investing, you need to ensure discretionary income. And the investor should have an idea about the type of asset he is investing in and the market situation. Because if someone does not have the right perspective in the case of volatile assets like Bitcoin, unrealistic expectations can be a danger for them, so they should invest with realistic expectations by knowing the basics of Bitcoin. If the investor does not know about its volatility, the price fluctuations will scare him. Sometimes it can fall up to 30,40,50% and if the investor faces a big fall that he had no idea about, then naturally he will sell at a loss.

After starting investing, it is important to gradually learn about safe storage methods. It is important not only to buy but also to know how to store it safely. It is not necessary to learn everything at the beginning, learning with practical experience may be more necessary. However, the risk of making wrong decisions in investment may increase if there is no discretionary income to invest, no minimum idea about Bitcoin and no long-term mental preparation. Learning and investing can go hand in hand but buying blindly without knowing anything can be risky for new investors. So, a minimum of knowledge and caution about Bitcoin before investing can protect an investor from unnecessary losses.

You seem to be trying to have it both ways.

You argue that prior knowledge is not necessary in order to get started in terms of buying bitcoin, yet at the same time, som kind of "minimum knowledge" is needed. 

That sounds contradictory and vague to me, and you seem to be implying that there is some secret "minimum" knowledge that is needed and that the guy who knows that he has $100 per week to buy bitcoin, he cannot purposefully decide for himself to get started and to buy $30 worth of bitcoin and to learn as he goes, since from your point of view, he is facing some risk of "unnecessary losses" by doing so, even if he had already purposefully chose a $30 amount that he believes that he can afford to lose. 

Why can't he just start buying bitcoin with his $30 instead of trying to figure out some supposed "minimum knowledge" that you believe that he needs to possess before he can get started?

[PhilosopherKing]

It is far more better or safer for a newbie or someone that is just starting to invest in bitcoin to start with a smaller percentage of there discretionary income instead of delaying to start investing in bitcoin. The feeling that they needs to gain more knowledge about bitcoin  may actually make most beginners not to start investing in bitcoin due to fear of losing their money but the safer thing is for them to start with a smaller percentage . The best way to learn about bitcoin is to start investing in bitcoin using smaller amounts of money and then they can increase how much they allocate to bitcoin whenever they feel that there knowledge about bitcoin has improved.

It mustn't necessarily be a small percent, the amount used for discretionary depends on what's left after settling essentials and every investor should know how to manage their cashflow and also figure the amount they can comfortably put into Bitcoin investment consistently  but if anyone wants to starts small even though the person has enough to invest more without affecting other expenses then it's the person's choice.
 You don't need perfection to determine the amount used for investment, the more an investor keep buying and holding the more the person tend to gather more experience so is there any need of starting small when your idea for investing is to hold for long term? Except maybe the person is not fully convinced that Bitcoin is for long term but starting small based on trial.

Starting small is the better thing to do. Person that's starts buying recently with just basic knowledge may not have know everything about bitcoin, and that person can have higher chance of  making mistakes along the way. If person start small, even if mistakes is made, the effect of it will not be much, and the person can even use those mistakes as lesson so they can do better.

But if you start big and you make a bad mistake it can ruin everythhing like your time, your ongoing accumulation. And you can even loose all your money that you put in bitcoin because of that mistake.

That is why it is better to start small, so that person can invest as their capacity permits, learn on the way so that the amount can then be adjusted up

[Boy-o-boy]

[/quote]. The fact is that most persons gets most of there information from YouTube and other social media platforms about everything concerning Bitcoin investment so me I don't often blame them when there start having losses the best thing is to have a mentor in this crypto area someone like a guidance who can put you through in all areas concerning what you are about to get yourself into

[Somto9Light]

Starting small is the better thing to do. Person that's starts buying recently with just basic knowledge may not have know everything about bitcoin, and that person can have higher chance of  making mistakes along the way. If person start small, even if mistakes is made, the effect of it will not be much, and the person can even use those mistakes as lesson so they can do better.

This issue about starting small, I would say  you should allow the beginners to decide if they are going to start small or maybe with a reasonable amount of money that's if they know they can manage the risk. it is true that starting small is better especially for those who are just getting started but some beginners might want to start going big from the start in order to go far before the price of bitcoin goes up. Take for instance those that started thier bitcoin investment in this current dip, if such beginner is aware that there was a time when bitcoin surge to $125k and seeing that the price has drop to $64k or there about, they can decide to be more aggressive in their accumulation journey without even considering the fact that they are new to bitcoin.

[Ashawowo(OS)]

The fact is that most persons gets most of there information from YouTube and other social media platforms about everything concerning Bitcoin investment so me I don't often blame them when there start having losses the best thing is to have a mentor in this crypto area someone like a guidance who can put you through in all areas concerning what you are about to get yourself into

Even though you've a mentor, it doesn't necessarily mean you should copy everything the mentor does and attempt applying it to your own investment journey. Bitcoin investment is investor specific and should be tailored according to your own financial capacity and your available discretionary income. If your mentor has a bigger discretionary income and invest big and you that doesn't have that kind of discretionary income consistently tries to measure up, you'll find yourself struggling to meet up and may end up investing over aggressively which would cause financial pressure for you and you may have to liquidate part of your holding to attend to initially neglected expenses of which is very bad. We must try to customize our own investment journey according to our financial strength and ensure we're investing only from our discretionary income so as to have a stress free investment journey while DCAing into Bitcoin.

[JayJuanGee]

The fact is that most persons gets most of there information from YouTube and other social media platforms about everything concerning Bitcoin investment so me I don't often blame them when there start having losses the best thing is to have a mentor in this crypto area someone like a guidance who can put you through in all areas concerning what you are about to get yourself into

In a forum like this we can interact in regards to bitcoin related topics, so I am not sure why you would want to refer people to YouTube, event though there might be some good information on YouTube too.  Another thing is that hopefully people learn the difference between bitcoin and shitcoins, and perhaps learn bitcoin first, since most shitcoins are either scams or they are just imitations of bitcoin that would not be good places to put value.

A lot of people might think that they are learning about bitcoin and investing into bitcoin, yet they end up learning about shitcoining and trading bitcoin, so they end up losing a lot of money rather than really figuring out ways to build their wealth in bitcoin through solid practices of ongoingly accumulating bitcoin, and strengthening their cashflow management while at the same time hopefully learning while they are ongoingly building their wealth, since it can take years and years to really build wealth unless some folks are able to front load their bitcoin investment or to reallocate assets and value from other investments that they might have had prior to coming to bitcoin.

Starting small is the better thing to do. Person that's starts buying recently with just basic knowledge may not have know everything about bitcoin, and that person can have higher chance of  making mistakes along the way. If person start small, even if mistakes is made, the effect of it will not be much, and the person can even use those mistakes as lesson so they can do better.

This issue about starting small, I would say  you should allow the beginners to decide if they are going to start small or maybe with a reasonable amount of money that's if they know they can manage the risk. it is true that starting small is better especially for those who are just getting started but some beginners might want to start going big from the start in order to go far before the price of bitcoin goes up. Take for instance those that started thier bitcoin investment in this current dip, if such beginner is aware that there was a time when bitcoin surge to $125k and seeing that the price has drop to $64k or there about, they can decide to be more aggressive in their accumulation journey without even considering the fact that they are new to bitcoin.

Of course newbies who have more wealth, they have more options in terms of how aggressive they would be able to start in bitcoin, and there is nothing wrong with starting out with a lump sum or even starting out reallocating value from other places into bitcoin, to the extent that someone new to bitcoin might have other investments.  So how heavy a person starts out may well relate to how many resources that they have.

Many times newbies to bitcoin might also be newbies to investing, and they may well not have a lot of resources in which they can lump sum into bitcoin so they tend to need to measure from the discretionary funds of their regular cashflow to build up their bitcoin and to build up their back up funds at the same time.  Frequently, newbies are not in a position to spend all of their discretionary income on bitcoin and back up funds, so they also have to hold back some of those funds for discretionary consumption, since it may well be a bit unreasonable for any newbie to be completely cutting off his discretionary consumption merely because he might be choosing to prioritize bitcoin investing.

How aggressive a person can be tends to be a product of both his capacities to be aggressive through how much discretionary funds and other available funds that he has available and then also a product of his preferences to prioritize bitcoin investing over other places that he can put time, energy and value.

[The Founding Titan]

The fact is that most persons gets most of there information from YouTube and other social media platforms about everything concerning Bitcoin investment so me I don't often blame them when there start having losses the best thing is to have a mentor in this crypto area someone like a guidance who can put you through in all areas concerning what you are about to get yourself into

A mentor in crypto area makes it sound like you are talking about shitcoins as well and seeing as this is a bitcoin investment thread I would advise against talking about shitcoins here, maybe that wasn't your intention so to not mislead yourself and other newbies it is best to not use 'crypto' to talk about bitcoin, just use bitcoin.
Speaking frankly though you don't really need to have a mentor before you can be able to invest in bitcoin the right way, most scam outfits promise short term gains, bitcoin investment is long term so just avoid whatever promises you short term profit with bitcoin.

Starting small is the better thing to do. Person that's starts buying recently with just basic knowledge may not have know everything about bitcoin, and that person can have higher chance of  making mistakes along the way. If person start small, even if mistakes is made, the effect of it will not be much, and the person can even use those mistakes as lesson so they can do better.

This issue about starting small, I would say  you should allow the beginners to decide if they are going to start small or maybe with a reasonable amount of money that's if they know they can manage the risk. it is true that starting small is better especially for those who are just getting started but some beginners might want to start going big from the start in order to go far before the price of bitcoin goes up. Take for instance those that started thier bitcoin investment in this current dip, if such beginner is aware that there was a time when bitcoin surge to $125k and seeing that the price has drop to $64k or there about, they can decide to be more aggressive in their accumulation journey without even considering the fact that they are new to bitcoin.

I think you misunderstand what investing small really means in this context, a person investment is dependent on their discretionary income so their investment being big or small depends on how much of their discretionary income they are investing with, someone with N50k discretionary income who is investing an average of N20k in bitcoin is being more aggressive than someone with an N80k discretionary income and is investing in bitcoin with N30k, the difference might not look like much but it is still there, so the person investing N30k might look like he is investing more than the person investing N20k and in truth he is but when a person's investment rate being big or small is dependent on their discretionary income we can say that the person investing N20k is investing bigger than the other person, if they were both newbies then the person investing N30k has a smaller investment compared to his discretionary income.

[Jostern]

[edited out]

If you want to start investing, you need to ensure discretionary income. And the investor should have an idea about the type of asset he is investing in and the market situation. Because if someone does not have the right perspective in the case of volatile assets like Bitcoin, unrealistic expectations can be a danger for them, so they should invest with realistic expectations by knowing the basics of Bitcoin. If the investor does not know about its volatility, the price fluctuations will scare him. Sometimes it can fall up to 30,40,50% and if the investor faces a big fall that he had no idea about, then naturally he will sell at a loss.

After starting investing, it is important to gradually learn about safe storage methods. It is important not only to buy but also to know how to store it safely. It is not necessary to learn everything at the beginning, learning with practical experience may be more necessary. However, the risk of making wrong decisions in investment may increase if there is no discretionary income to invest, no minimum idea about Bitcoin and no long-term mental preparation. Learning and investing can go hand in hand but buying blindly without knowing anything can be risky for new investors. So, a minimum of knowledge and caution about Bitcoin before investing can protect an investor from unnecessary losses.

You seem to be trying to have it both ways.

You argue that prior knowledge is not necessary in order to get started in terms of buying bitcoin, yet at the same time, som kind of "minimum knowledge" is needed. 

That sounds contradictory and vague to me, and you seem to be implying that there is some secret "minimum" knowledge that is needed and that the guy who knows that he has $100 per week to buy bitcoin, he cannot purposefully decide for himself to get started and to buy $30 worth of bitcoin and to learn as he goes, since from your point of view, he is facing some risk of "unnecessary losses" by doing so, even if he had already purposefully chose a $30 amount that he believes that he can afford to lose. 

Why can't he just start buying bitcoin with his $30 instead of trying to figure out some supposed "minimum knowledge" that you believe that he needs to possess before he can get started?

His statement of having it in both ways seems to be confusing, and would probably confuse newbies who are here to learn more about bitcoin, and how they can get started with investing in bitcoin, considering that a newbie have a discretionary income as small as the amount, he can start buying bitcoin and he would definitely keep learning on a gradual process as he keeps buying, then comes with experience, there is nothing wrong in having a basic knowledge, but the most important and a priority should be having a discretionary income and getting started with my Bitcoin investment, there is always going to be risk involved with bitcoin either you have a basic knowledge or not, it doesn’t matter what matters is investing in a long term, which can be sustainable.

Getting started as a newbie is very important to be able to accumulate bitcoin, there are people who must have missed out on different opportunities, because they’re still struggling to get started because of trying to understand it all before getting started.

[ZeroVinsonN]

The fact is that most persons gets most of there information from YouTube and other social media platforms about everything concerning Bitcoin investment so me I don't often blame them when there start having losses the best thing is to have a mentor in this crypto area someone like a guidance who can put you through in all areas concerning what you are about to get yourself into

Even though you've a mentor, it doesn't necessarily mean you should copy everything the mentor does and attempt applying it to your own investment journey. Bitcoin investment is investor specific and should be tailored according to your own financial capacity and your available discretionary income. If your mentor has a bigger discretionary income and invest big and you that doesn't have that kind of discretionary income consistently tries to measure up, you'll find yourself struggling to meet up and may end up investing over aggressively which would cause financial pressure for you and you may have to liquidate part of your holding to attend to initially neglected expenses of which is very bad. We must try to customize our own investment journey according to our financial strength and ensure we're investing only from our discretionary income so as to have a stress free investment journey while DCAing into Bitcoin.

I agree, while recieving advice and mentorship from someone who is more experienced is a good that it should be done with your own discretionary income capacity in mind, the mentor might have more discretionary income and has been investing for a while, probably already has their backup funds in place meaning that they can be more aggressive with their with their investment compared to a newbie who is still trying to start buying bitcoin and probably hasn't set up their emergency fund yet.
So while it's not out of place to want to have some kind of a mentor to guide a person who is just starting out as a bitcoin investor they should also make sure that they understand that they are not their mentors.

[Samuel47]

Investment turns into gambling when you stop using data and start relying on pure luck. If you buy an asset blindly hoping to get rich quick today, you are just placing a bet explain if you want to get rich quickly invest into something like bitcoin or into online business with it you can start with 50000 and earn massively up to 56000 and get what in a year after investing you can earn up to more them a million a year after.

[Abbatty]

I've met some people that have once thought and acted like your friend did. I don't know what your friend was planning, but in my opinion, he wasn't playing for the long run. If he was interested in investing in the long run, he would have had an allocated time frame and stuck to it. Definitely not selling out of panic or when having some price increase, going ahead to slice some little profits off the top.
Understandably, market fluctuations are bound to happen and should be expected. It certainly shouldn't bother you much especially when you plan on going for the long run. Taking financial advice from some "experts" on youtube and telegram is also not so advisable as it can be downright crazy.
I think planning has slowly become underrated, people fail to actually do and stick with it.

Exactly, planning these days is very underrated, some people can decide to go into bitcoin today without even specifying how long they want to hold for , and some others can even specify how long they want to hold for and at the end they won’t hold according to plan.

Some reasons why some people don’t really get to hold for that period of time they planned could be, not setting aside Emergency funds. We have seen a lot of people who will go into bitcoin investment without making provision for emergency fund, and anytime they are hit with an emergency problem they will have to sell their holdings.

Another reason could be patience, there are people who really lack patience, so even if they plan to hold for a long period of time, they always find themselves selling their holding before the actual date.

[Nwaswago]

Investment turns into gambling when you stop using data and start relying on pure luck. If you buy an asset blindly hoping to get rich quick today, you are just placing a bet explain if you want to get rich quickly invest into something like bitcoin or into online business with it you can start with 50000 and earn massively up to 56000 and get what in a year after investing you can earn up to more them a million a year after.

chasing quick profits can make investing Become gambling, but I disagree with the examples you gave. Bitcoin is not a get-rich-quick scheme, and no one can realistically promise that ₦50,000 will become ₦1 million within a year. That's setting unrealistic expectations.The difference between investing and gambling isn't just using data, it's also having a long-term plan, managing risk, and accepting that returns are never guaranteed. If you invest in Bitcoin, do it because you understand its value proposition and are prepared to hold through volatility, not because you expect overnight wealth.