What to do to eliminate fear and starts investing in Bitcoin

[JayJuanGee]

In order to start investing in bitcoin all you need is discretionary funds.

There is no need to add additional and vague ideas about supposed "basic knowledge" that is needed since guys can use their own judgement figure out what they need or don't need as long as they have discretionary funds, they can get started buying bitcoin.

They can also learn whatever they need to learn as they are starting to buy bitcoin on a regular basis, perhaps weekly?

JayJuanGee, I know discretionary income is what is needed most in order to start investing in bitcoin, and people can learn whatever they need to learn as they are starting to buy bitcoin. However, there could be a scenario where a newbie who know nothing about bitcoin can start investing in bitcoin and the market crashes immediately he or she purchases his or her first bitcoin, and if this happens, don't you think that the newbie would be force to sell his or her bitcoin at of fear because he or she doesn't know that bitcoin is volatile? So I believe at some point it's necessary for newbies to know the basic knowledge of bitcoin before they start investing in bitcoin.

If the newbie has discretionary funds, it is up to the newbie regarding how much of his discretionary funds he wants to start with and whether he wants to start.  The fact that he has discretionary funds gives him an ability to start if he wants to start.  He does not have to have further knowledge in order to start, unless he determines for himself that he needs extra knowledge.

What is the extra basic knowledge that you presume he needs in order to get started?

If a newbie bitcoiner has adequately calculated that he has $100 per week that is available to invest into bitcoin, and then he purposefully decides to start out with $30 based on his being new, then what is wrong with that?  Are you suggesting that he is not going to be able to figure out whether he should start out with somewhere between $30 and $100 on his own without some other knowledge that you think that he needs?

Why can't he figure out for himself how much he wants to start with and then just learn as he goes?

If you think that he needs to learn about volatility, then sure there is value in experiencing volatility rather than looking at a price chart, yet a newbie bitcoiner can look at  a bitcoin price chart and then decide whether the the BTC price chart affects whether he should start with investing $30 or $100 or some other amount.

I am not sure what you are expecting a newbie needs to learn.  Are you expecting that because we use the term bitcoin newbie, then we have to presume that the bitcoin newbie is 12 years old and does not have much if any life experience and/or maturity?   I am not going to presume that.  I am going to presume that bitcoin newbies have some abilities to make judgements for themselves in regards to what they might need to learn or not and that they are capable of adjusting their starting out quantity in accordance with their comfort level, and maybe I am just ongoingly emphasizing the importance of getting started especially for anyone who is able to calculate that they have discretionary funds available.  They should be able to figure out a reasonable starting size and also what they feel that they need to learn about bitcoin and/or about cashflow management practices and the order that they need to learn it.

In order to start investing in bitcoin all you need is discretionary funds.

There is no need to add additional and vague ideas about supposed "basic knowledge" that is needed since guys can use their own judgement figure out what they need or don't need as long as they have discretionary funds, they can get started buying bitcoin.

They can also learn whatever they need to learn as they are starting to buy bitcoin on a regular basis, perhaps weekly?

JayJuanGee, I know discretionary income is what is needed most in order to start investing in bitcoin, and people can learn whatever they need to learn as they are starting to buy bitcoin. However, there could be a scenario where a newbie who know nothing about bitcoin can start investing in bitcoin and the market crashes immediately he or she purchases his or her first bitcoin, and if this happens, don't you think that the newbie would be force to sell his or her bitcoin at of fear because he or she doesn't know that bitcoin is volatile? So I believe at some point it's necessary for newbies to know the basic knowledge of bitcoin before they start investing in bitcoin.

It's not like anyone is denying the role of basic knowledge in bitcoin investment, I think that @JJG is more interested in the unnecessary delays that this basic knowledge can cause a person who's practically waiting to gain such knowledge before he can start his bitcoin accumulation. Some questions you should ask yourself is what actually defines "a basic knowledge" about bitcoin? Does this involve you as a beginner wanting to study volatility?

Most times folks who claim to be waiting to learn basic knowledge about bitcoin before investing only confuse themselves because they will be busy studying volatility that would keep them delaying unendingly.

As a beginner who's ready to invest in bitcoin, the moment you have your Discretionary income then you are good to go because there's no tech savvy that hasn't heard about bitcoin and also aware that it is a digital currency, all he needs to do is how to figure out his Discretionary income for the sake of long-term success. Once he is able to figure out his Discretionary income then there's no need to wait further. He can learn every other thing along the way and as long as he is truly investing with his Discretionary income, he has a high chances of success.

Just because a bitcoin newbie has discretionary funds, that does not mean that he can just do whatever he likes.  He likely still needs to figure out how much of his discretionary funds he is going to use to buy bitcoin, how much he is going to save and how much he is going to discretionarily consume.

He is also not guaranteed success merely based on his having discretionary funds and that he decides to put some of those discretionary funds into bitcoin. 

Many times bitcoin newbies will need to spend several years learning about bitcoin while they are ongoingly buying it, even though how much they choose to learn is also a discretionary matter in which each person determines how much he needs to learn based on how much he already believes that he knows, and the mere fact that he had decided to buy bitcoin does not mean that he does not have anything to learn, even though he still has to choose how much he is going to learn about bitcoin, which does not mean that he is going to come to the correct decision or that he might not otherwise make various mistakes along the way, yet anyone who is attempting to approach bitcoin with humility, then he will likely figure out that it is better to attempt to ongoingly learn about bitcoin and cashflow management practices rather than presuming that everything will take care of itself automatically.

[Edited out]

Can basic knowledge about Bitcoin save a person from fear? The only way to save yourself from selling your holdings out of fear is to build faith in Bitcoin. When you have faith in Bitcoin, you will be able to easily deal with the big falls in Bitcoin. It is very natural for a person to be afraid in the beginning, but it is not right to be so afraid in the beginning that he has to sell his holdings. After starting investing, he can gradually gain knowledge and face small falls in the market, then he will gradually be able to deal with the big falls and build faith in Bitcoin.

You sound like you are sure how the market would progress for a newbie. Like how sure are you that as a beginner joins bitcoin he will first encounter small fall and when he has gained experience he will then experience the big fall?

Bitcoin price is not predictable and big fall can happen at anytime. This is why you have to be investing with only your Discretionary income so that you will not worry about whether it's small fall or big fall that's occurring. Fear is a factor that influence some premature sales or selling when you think that price is going down, but the bigger reason that causes people to sell off their bitcoin prematurely or when the market is going down is, "investing outside your Discretionary income". If you can avoid the urge to invest more than you can afford to HODL then, you have a very good chance of making profit in the long-term.

You are correct about both the need to invest into bitcoin within the bounds of discretionary funds, and also discretionary funds are used for savings and for discretionary consumption.  And, surely on an ongoing basis none of us are going to have high levels of confidence whether the BTC price is going to go up, down or sideways, yet we are still investing into bitcoin based on our own presumption and conclusion that in the long run bitcoin prices are going to tend to go upward - even if we know that it is not guaranteed that bitcoin prices will tend to go upward in the long run.

We also cannot know the extent that we might make various mistakes along the way, which also brings in preferences that we be attempting to pay attention to learn along the way and to improve our practices, yet guys make choices regarding how much attention and how much priority to give to their bitcoin investing and their learning about bitcoin investing and cashflow management.

Can basic knowledge about Bitcoin save a person from fear? The only way to save yourself from selling your holdings out of fear is to build faith in Bitcoin. When you have faith in Bitcoin, you will be able to easily deal with the big falls in Bitcoin. It is very natural for a person to be afraid in the beginning, but it is not right to be so afraid in the beginning that he has to sell his holdings.

Having faith in Bitcoin is good, but I bet you that you will still sell in panic if you invest what you cannot afford to lose. Most of us that invested in Bitcoin are still downplaying the effect of investing from our discretionary income, we don't know that the reason sir jayjuangee always advice that all investment in Bitcoin should be made from our discretionary income is that we are not going to fear or panic when our investment is not going as planned because we are investing what we can afford to lose, but once you invest what you cannot afford to lose, every dip will be a nightmare to the said person because he   or she invested what they cannot afford to lose.

What you can afford to lose is generally going to be a subset of your discretionary income, and if guys are investing most if not all of their discretionary income into bitcoin, they might be crossing into territories that would be considered to be investing beyond their financial and psychological limits, which is a need to account for some of discretionary funds to go towards savings (back up funds) and some of discretionary funds to go towards discretionary consumption.

As someone who wants to start investing in bitcoin, you should be well aware that there is risk involved with investing in bitcoin, especially with an investment like bitcoin, considering the volatile nature of bitcoin is more important to invest in bitcoin considering long term investment to have an opportunity of having a successful investment, and you should also invest wisely by investing with a discretionary income, which means a leftover money, money that you can afford to loose, with the options I have mentioned which is investing with money you can afford to lose should be a good mindset.

Acquiring adequate knowledge about Bitcoin can be found online and I have been seeing paid PDF and ebooks that can help those that want to learn about Bitcoin to get the knowledge they are looking for paying tiny amount.
The challenges most investors are having about investing in Bitcoin is because they are not ready to seek for information online on how they can become a successful investor in the market. The crypto market is not funny at all and any mistake can lead to severe loses that may be difficult to recover.

You are pretty vague about learning about bitcoin online.  We are online right now, in this forum.  But you are talking about something else apparently, but you are vague about it.  Do you think that bitcoin newbies need to learn about bitcoin before starting or what?

Also we are not talking about shitcoins here.  If you look at the title of the thread, we are talking about "investing in bitcoin," so I am not sure why you felt some need to mention "crypto"  Maybe you don't know what bitcoin is, so you used the term "crypto" because you were trying to sound smart, but when you use the term "crypto" then you appear  that you don't know what you are talking about since crypto clearly is not the same as bitcoin, including that in this thread we are talking about bitcoin and not shitcoins, so you probably should learn how to not be afraid to use the proper term, namely bitcoin... if you actually know what it is and how bitcoin differs from shitcoins.

I agree with you that having knowledge on how to go about your bitcoin investment is very important and a bit helpful in navigating your way while investing, but when it comes to eliminating fear when investing in Bitcoin, you need to invest from your discretionary income, which is a fund you can afford to lose, that way you will not fear or panic if their is a dip in the market or your investment is not going as expected, because you know that even though the worst happens, you will still be fine emotionally and financially.

Sure, investing in any asset must be with the money that we can afford to lose, it is including in Bitcoin. Investing with safe money will ensure us to have calm mind because it won't impact anything although we end up with losses. We should easily deal with any condition of crypto market because we can think with calm mind. It will be so much different if we use unsafe money, we may panic because we can't lose the money.

Why the fuck would we be investing in crypto?  That would be a waste of time, energy and value.  No?  And what does investing in crypto have to do with this particular thread?

But we should take note that fear and panicking can never be taken away once you invest what you cannot afford to lose regardless of wether you are a newbie or a veteran investor, so it's very important that we invest only what we can afford to lose, if we don't want to be emotionally attached to our investment.

As we said above, investing with unsafe money will burden our mind. Whether veterans or beginners, they must be panic if the market condition become worse than they expected. However, I'm sure the veterans won't try to invest in that way. Since they have sufficient knowledge, they must know how to invest in a proper way.

You might be correct in your assessment, but since you used the term "crypto" above, I question if you know what you are talking about.

[CageMabok]

...

Acquiring adequate knowledge about Bitcoin can be found online and I have been seeing paid PDF and ebooks that can help those that want to learn about Bitcoin to get the knowledge they are looking for paying tiny amount.
The challenges most investors are having about investing in Bitcoin is because they are not ready to seek for information online on how they can become a successful investor in the market. The crypto market is not funny at all and any mistake can lead to severe loses that may be difficult to recover.

When it comes to seeking knowledge about Bitcoin, it's actually possible to do so without spending any money, such as buying books or similar tools. For those with a specific intention to seek knowledge and study it in detail, I believe they will also gain knowledge, although it may take a little more time than those who simply buy a book and read it slowly to fully understand its contents. Furthermore, nowadays, everything related to investing or trading is readily available online, so anyone can learn immediately without having to worry about spending any money upfront.

And I also quite agree with what you said at the end, that entering the market isn't a game if one lacks knowledge. Losses of any size are always difficult to recover due to the difficulty of making instant profits in the market. Therefore, investors must be more cautious in their actions, even if they already have sufficient knowledge to understand the market.

[Bigjoe33]

Acquiring adequate knowledge about Bitcoin can be found online and I have been seeing paid PDF and ebooks that can help those that want to learn about Bitcoin to get the knowledge they are looking for paying tiny amount.
The challenges most investors are having about investing in Bitcoin is because they are not ready to seek for information online on how they can become a successful investor in the market. The crypto market is not funny at all and any mistake can lead to severe loses that may be difficult to recover.

When it comes to seeking knowledge about Bitcoin, it's actually possible to do so without spending any money, such as buying books or similar tools. For those with a specific intention to seek knowledge and study it in detail, I believe they will also gain knowledge, although it may take a little more time than those who simply buy a book and read it slowly to fully understand its contents. Furthermore, nowadays, everything related to investing or trading is readily available online, so anyone can learn immediately without having to worry about spending any money upfront.

And I also quite agree with what you said at the end, that entering the market isn't a game if one lacks knowledge. Losses of any size are always difficult to recover due to the difficulty of making instant profits in the market. Therefore, investors must be more cautious in their actions, even if they already have sufficient knowledge to understand the market.

Getting knowledge is important, and perhaps, knowledge can be gotten online by reading e-books and all of that, but I want to stare that the real knowledge actually lies in starting, yea. There are lot more to learn for an investor who is in the market compared to someone just reading theories online. The practicality is what gives you the much needed knowledge to grow in your investment journey. This, investors can actually begin there investment if they are able to figure out there discretionary income, and probably start out small while they learn better or figure out how best to go about there investment in terms of allocating funds to there accumulation and other discretionary needs.

So while we seek for knowledge to begin, let's know that just a basic knowledge of figuring out your discretionary income is enough to begin your investment while you can learn other things while already investing and building your portfolio and other back up funds simultaneously

[Tonimez]

[Edited out]

You might be correct in your assessment, but since you used the term "crypto" above, I question if you know what you are talking about.

It's crazy how dudes still mix up things after many months of reading through the forum and different threads. How else will it be thought to differentiate bitcoin from crypto? Or does it mean that since bitcoin is also a digital currency, then it has to be generalized as crypto?

Okay, let me put it this way, Bitcoin can be seen as a digital "asset" while crypto (shitcoins) appears to be  digital "liabilities" due to its extreme Volatility and higher chances of amounting to nothing in the near future. Calling Bitcoin by its name would help give the impression of what bitcoin really is and not stink like it's a shitcoin.

[Edited out]

Getting knowledge is important, and perhaps, knowledge can be gotten online by reading e-books and all of that, but I want to stare that the real knowledge actually lies in starting, yea. There are lot more to learn for an investor who is in the market compared to someone just reading theories online. The practicality is what gives you the much needed knowledge to grow in your investment journey. This, investors can actually begin there investment if they are able to figure out there discretionary income, and probably start out small while they learn better or figure out how best to go about there investment in terms of allocating funds to there accumulation and other discretionary needs.

So while we seek for knowledge to begin, let's know that just a basic knowledge of figuring out your discretionary income is enough to begin your investment while you can learn other things while already investing and building your portfolio and other back up funds simultaneously

For a person who is in this forum, there's no better place to gain bitcoin knowledge order than this forum so there's no point referring someone to any online order than different threads of the forum because nearly every knowledge you can find in this forum is based on practical experiences than mere Google results and AI junks which are impracticable.

A beginner has a lot of "what IFs" to deal with. If he is not guided right, he can fall into the category of those who see bitcoin as an all up venture instead of seeing it as a store of value that it truly is. There are many misleading information scattered around online and social media, a beginner must mind where he obtains his information to avoid making wrong decisions which can range from delaying unendingly or investing overly aggressively which could also hamper his long-term goal.

[samadam007]

For a person who is in this forum, there's no better place to gain bitcoin knowledge order than this forum so there's no point referring someone to any online order than different threads of the forum because nearly every knowledge you can find in this forum is based on practical experiences than mere Google results and AI junks which are impracticable.

A beginner has a lot of "what IFs" to deal with. If he is not guided right, he can fall into the category of those who see bitcoin as an all up venture instead of seeing it as a store of value that it truly is. There are many misleading information scattered around online and social media, a beginner must mind where he obtains his information to avoid making wrong decisions which can range from delaying unendingly or investing overly aggressively which could also hamper his long-term goal.

No lies detected… this forum is one of the best place to learn everything and anything related to Bitcoin. So many experienced members here that have gathered knowledge over the years; they know a lot and share useful information and lessons from their experience.

As a believer of Bitcoin long term potential, I’ve learnt a lot from reading different thread here and combining them with my own personal research; it has helped me lot in my accumulation journey. The arguments and corrections makes it more practical and educating.

But I have to disagree with you one one thing. Learning doesn’t have to come from only one place, so i think it’s wrong to discourage folks from learning outside here. It's important they do their research and they can do it while accumulating Bitcoin after they’ve figured out their discretionary income, compare different ideas and verify.
The purpose of personal research is to know the difference between fact and opinion. It also help one make better decisions.

[Hardyrobust]

Acquiring adequate knowledge about Bitcoin can be found online and I have been seeing paid PDF and ebooks that can help those that want to learn about Bitcoin to get the knowledge they are looking for paying tiny amount.
The challenges most investors are having about investing in Bitcoin is because they are not ready to seek for information online on how they can become a successful investor in the market. The crypto market is not funny at all and any mistake can lead to severe loses that may be difficult to recover.

When it comes to seeking knowledge about Bitcoin, it's actually possible to do so without spending any money, such as buying books or similar tools. For those with a specific intention to seek knowledge and study it in detail, I believe they will also gain knowledge, although it may take a little more time than those who simply buy a book and read it slowly to fully understand its contents. Furthermore, nowadays, everything related to investing or trading is readily available online, so anyone can learn immediately without having to worry about spending any money upfront.

And I also quite agree with what you said at the end, that entering the market isn't a game if one lacks knowledge. Losses of any size are always difficult to recover due to the difficulty of making instant profits in the market. Therefore, investors must be more cautious in their actions, even if they already have sufficient knowledge to understand the market.

Getting knowledge is important, and perhaps, knowledge can be gotten online by reading e-books and all of that, but I want to stare that the real knowledge actually lies in starting, yea. There are lot more to learn for an investor who is in the market compared to someone just reading theories online. The practicality is what gives you the much needed knowledge to grow in your investment journey. This, investors can actually begin there investment if they are able to figure out there discretionary income, and probably start out small while they learn better or figure out how best to go about there investment in terms of allocating funds to there accumulation and other discretionary needs.

So while we seek for knowledge to begin, let's know that just a basic knowledge of figuring out your discretionary income is enough to begin your investment while you can learn other things while already investing and building your portfolio and other back up funds simultaneously

For sure it is possible for someone to learn about bitcoin without spending any money. There are free online classes, videos, even forum discussions and articles where they can get basic knowledge about bitcoin. The most important thing is if they are ready to learn and not just about getting free knowledge.
However, the idea of someone wanting to know everything before starting to invest in bitcoin isn't a good idea. For long term investors, they don't need to know everything before they can start to accumulate bitcoin. They can be learning about bitcoin gradually as they are ongoingly accumulating bitcoin , and this is even the best way to learn about bitcoin investment.

[obuoma]

For sure it is possible for someone to learn about bitcoin without spending any money. There are free online classes, videos, even forum discussions and articles where they can get basic knowledge about bitcoin. The most important thing is if they are ready to learn and not just about getting free knowledge.
However, the idea of someone wanting to know everything before starting to invest in bitcoin isn't a good idea. For long term investors, they don't need to know everything before they can start to accumulate bitcoin. They can be learning about bitcoin gradually as they are ongoingly accumulating bitcoin , and this is even the best way to learn about bitcoin investment.

Someone can learn about Bitcoin without spending money in terms of getting started with investing but the knowledge he has wouldn't have been tested to yield experience. Someone who start investing while learning will do much better than the person with theoretical knowledge and giving that Bitcoin is broad, Someone who wants to learn first before investing may end in confusion, never getting started begause of being overwhelmed with so many things to learn. It is always better to start investing as soon as the investor is able to set aside discretionary income, then the learning can be done on the process.

[BItcoin Guy@]

Someone can learn about Bitcoin without spending money in terms of getting started with investing but the knowledge he has wouldn't have been tested to yield experience. Someone who start investing while learning will do much better than the person with theoretical knowledge and giving that Bitcoin is broad, Someone who wants to learn first before investing may end in confusion, never getting started begause of being overwhelmed with so many things to learn. It is always better to start investing as soon as the investor is able to set aside discretionary income, then the learning can be done on the process.

With what I have understood and the small knowledge I have gotten from crypto, you can’t just learn without spending. You can get some explanation about Bitcoin, but when you invest, that is when you get more experience and knowledge, and know how Bitcoin goes better. Anything that you didn’t involve funds in is always difficult for you to concentrate on well. Learning about Bitcoin is free, because there are many articles and books that give a full explanation about how Bitcoin is. But you can’t learn everything fully. You need to invest to make your learning go easily and to understand. When you want to invest in bitcoin you need to keep fear aside and risk your funds and achieve your goal.

[Obiavelliii]

For a very long time i have had about bitcoin,  how life transforming it has been to all investors but finds it difficult getting involved because I don't know where to start from and how to go about for possible results and this has stood as an obstacles depriving me access from getting same benefits others are getting from bitcoin.  I don't know if more about its working principles could be explained in detail for more clarity.

Investing is risky, but its one of the best ways to make a lot of money, and is one of the best things to invest in because it has so many strategies in place to use depending on your mental and emotional capabilities, as for the aspect of working principles, there are a lot of videos on YouTube that you can get those informations from, the only thing to be scared of it's volatile nature, and that is why it's better you hold.

[Princess Leah]

Someone can learn about Bitcoin without spending money in terms of getting started with investing but the knowledge he has wouldn't have been tested to yield experience. Someone who start investing while learning will do much better than the person with theoretical knowledge and giving that Bitcoin is broad, Someone who wants to learn first before investing may end in confusion, never getting started begause of being overwhelmed with so many things to learn. It is always better to start investing as soon as the investor is able to set aside discretionary income, then the learning can be done on the process.

With what I have understood and the small knowledge I have gotten from crypto, you can’t just learn without spending. You can get some explanation about Bitcoin, but when you invest, that is when you get more experience and knowledge, and know how Bitcoin goes better. Anything that you didn’t involve funds in is always difficult for you to concentrate on well. Learning about Bitcoin is free, because there are many articles and books that give a full explanation about how Bitcoin is. But you can’t learn everything fully. You need to invest to make your learning go easily and to understand. When you want to invest in bitcoin you need to keep fear aside and risk your funds and achieve your goal.

An investor would get more knowledge of Bitcoin investment when the person put what is known into practice by buying and the more consistent the person is in accumulating the more such person would be experienced in the investment, having knowledge without buying is not enough, it's just like procrastinating.

 A portfolio is not built by procrastination moreover the knowledge acquired would be of no use if the person with the knowledge doesn't put the discretionary funds into good use by buying and growing the portfolio consistently. It's even preferable for people to spend time accumulating and learning than reading books to learn without buying.

[Obulis]

Hmmm very serious question that has left people wondering i guess with various answers and somehow some investors might not even realize how they actually tackled this fear of obviously nothing. Like every other fear of nothing, being afraid to invest in Bitcoin is actually being afraid of nothing. You need money that you can afford to lose and then get started on a long-term journey. Therefore, the thing is not to get carried away with how peoples life is being transformed to avoid the temptation of trading that can cause you more fear and even regrets. As for the working principle of Bitcoin, I don't think you need to get worried about that because what you need after deciding your discretionary funds (money you can afford to lose) is a strategy to follow and DCA strategy is best for someone under your condition.

[Juicyhome]

For sure it is possible for someone to learn about bitcoin without spending any money. There are free online classes, videos, even forum discussions and articles where they can get basic knowledge about bitcoin. The most important thing is if they are ready to learn and not just about getting free knowledge.
However, the idea of someone wanting to know everything before starting to invest in bitcoin isn't a good idea. For long term investors, they don't need to know everything before they can start to accumulate bitcoin. They can be learning about bitcoin gradually as they are ongoingly accumulating bitcoin , and this is even the best way to learn about bitcoin investment.

I agree to this, buying bitcion on the learning process is the best way to own a bitcoin,  no one can actually know all about bitcoin, if you're waiting to learn all about bitcoin before you invest,  you might not get the besdt market price after your lesson. It's always wise to own a bitcoin regardless your knowledge in bitcoin,  there are some people who has zero ideas about bitcoin but they own large amount of bitcoin in their wallers. The only knowledge you have to learn is  the ability to stay in the investment by being patience.  Learning how to buy and sell is the basic things you need to learn and that's enough for you to own a bitcoin. Other classes are advance class on how to hold and keep you bitcoin.

There's nothing to be afraid in bitcoin,  beware that is not a daily ponzi scheme its a long time plan venture. Beware the market is volatile, when you see dip don't be afraid,  just buy and hodl, in the future you will smile to the bank knowing you defeated fear.

[Cossyblack]

Having faith in Bitcoin is good, but I bet you that you will still sell in panic if you invest what you cannot afford to lose. Most of us that invested in Bitcoin are still downplaying the effect of investing from our discretionary income, we don't know that the reason sir jayjuangee always advice that all investment in Bitcoin should be made from our discretionary income is that we are not going to fear or panic when our investment is not going as planned because we are investing what we can afford to lose, but once you invest what you cannot afford to lose, every dip will be a nightmare to the said person because he   or she invested what they cannot afford to lose.

You just pointed out why some investors are still panicking when the price of bitcoin is falling which is very correct.However some people may still disagree with you on this but that's fine. So in an addition, investors should ensure they invest using only their discretionary income in bitcoin otherwise they may panic sell if their investments isn't working as planned. But despite this I still believe that some investors are still investing in bitcoin above what they can afford to lose maybe that's why some them can't be able to sustain their investments for the long-term . So it is very essential that investors should only prioritise using their discretionary income consistently because that's the only way they won't panic sell their bitcoin investment in the long run .

[Finebone]

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 A portfolio is not built by procrastination moreover the knowledge acquired would be of no use if the person with the knowledge doesn't put the discretionary funds into good use by buying and growing the portfolio consistently. It's even preferable for people to spend time accumulating and learning than reading books to learn without buying.

I agree with your sentiment here mate. A newbie that truly wants to buy and accumulate Bitcoin should not be messing around when their is discretionary income available, because he can start right away, and along the line he can go for more knowledge on Bitcoin, like what to do in other not to sell too early, like putting down emergency and reserve funds to protect his Bitcoin holdings when emergency situation arise.

The only reason a newbie should not start his bitcoin accumulation is if he does not have a discretionary income available to start with, so that moment he should prioritize figuring out his or her discretionary income first, but once he can figure it out, starting right away is the best way forward.

[samadam007]

Investing is risky, but its one of the best ways to make a lot of money, and is one of the best things to invest in because it has so many strategies in place to use depending on your mental and emotional capabilities, as for the aspect of working principles, there are a lot of videos on YouTube that you can get those informations from, the only thing to be scared of it's volatile nature, and that is why it's better you hold.

Your post show your focus is more on making money than understanding Bitcoin.
If the first thing you tell other beginners like you that Bitcoin is one of the best ways to make a lot of money, then you are attracting folks with wrong mindset. Bitcoin is not a get rich quick scheme, so nobody should invest because they’re expect to make a lot of money, but invest because they understand what they are buying, the risks involved, and have a long term plan.

And what do you think Youtube will teach that your personal experience and this forum can’t teach you while accumulating? If you’re relying on youtube to learn Bitcoin, then you’re not ready to start. YouTube that is full of clickbait, fake experts and people after views. I don’t think any sound advice can come from there, even beginners won’t be able to differentiate from good advice from bad

Learning about Bitcoin is not even something you finish before investing. You can start investing with amount you can afford over time, and continue learning while accumulating.

[PhilosopherKing]

For sure it is possible for someone to learn about bitcoin without spending any money. There are free online classes, videos, even forum discussions and articles where they can get basic knowledge about bitcoin. The most important thing is if they are ready to learn and not just about getting free knowledge.
However, the idea of someone wanting to know everything before starting to invest in bitcoin isn't a good idea. For long term investors, they don't need to know everything before they can start to accumulate bitcoin. They can be learning about bitcoin gradually as they are ongoingly accumulating bitcoin , and this is even the best way to learn about bitcoin investment.

I agree to this, buying bitcion on the learning process is the best way to own a bitcoin,  no one can actually know all about bitcoin, if you're waiting to learn all about bitcoin before you invest,  you might not get the besdt market price after your lesson. It's always wise to own a bitcoin regardless your knowledge in bitcoin,  there are some people who has zero ideas about bitcoin but they own large amount of bitcoin in their wallers. The only knowledge you have to learn is  the ability to stay in the investment by being patience.  Learning how to buy and sell is the basic things you need to learn and that's enough for you to own a bitcoin. Other classes are advance class on how to hold and keep you bitcoin.

There's nothing to be afraid in bitcoin,  beware that is not a daily ponzi scheme its a long time plan venture. Beware the market is volatile, when you see dip don't be afraid,  just buy and hodl, in the future you will smile to the bank knowing you defeated fear.

Dude it will be pointless to be encouraging person to learn how to sell before starting their ongoing investment. Of what use will that knowledge of selling be if not for trading, unless your intention is to make person who is still low in their bitcoin stash to now start timing the market so they can sell.

Bitcoin is a long time investment, this is pure fact nd any person that is going into it has to go in with the plan to hold for a very long time. Bitcoin is volatile and it sure as hell will pump and dump, but it dumping should be a reason to sell. That is why I think what person just need to start their ongoing investment is just their discretionary income and common sense to be able to figure the amount they can use without pressure themselves. They don't need wasting their time learning things that are needless to their ongoing investment, like learning how to sell and exit the market.

[Marvelockg]

For sure it is possible for someone to learn about bitcoin without spending any money. There are free online classes, videos, even forum discussions and articles where they can get basic knowledge about bitcoin. The most important thing is if they are ready to learn and not just about getting free knowledge.
However, the idea of someone wanting to know everything before starting to invest in bitcoin isn't a good idea. For long term investors, they don't need to know everything before they can start to accumulate bitcoin. They can be learning about bitcoin gradually as they are ongoingly accumulating bitcoin , and this is even the best way to learn about bitcoin investment.

Someone can learn about Bitcoin without spending money in terms of getting started with investing but the knowledge he has wouldn't have been tested to yield experience. Someone who start investing while learning will do much better than the person with theoretical knowledge and giving that Bitcoin is broad, Someone who wants to learn first before investing may end in confusion, never getting started begause of being overwhelmed with so many things to learn.

If all you have is the theoretical knowledge on bitcoin, then you are not different from the set of people that bumps on bitcoin, become inquisitive about it and goes on to learning one or two about it and end up doing absolutely nothing about it. the prove that you have learned the real thing about bitcoin is actually when you go beyond the learning phase to actually holding a quantity of bitcoin that is actually reasonable.

While learning, there is certainly going to be a level of doubt and that is a fact but when you get in and start stacking more chunk of bitcoin per time, it becomes easier for you to get a first hand experience on what staying invested entails and that way, you tend to easily overcome all the huddles that tend to prevent you from actually becoming a successful investor.

[LUCKMCFLY]

You just pointed out why some investors are still panicking when the price of bitcoin is falling which is very correct.However some people may still disagree with you on this but that's fine. So in an addition, investors should ensure they invest using only their discretionary income in bitcoin otherwise they may panic sell if their investments isn't working as planned. But despite this I still believe that some investors are still investing in bitcoin above what they can afford to lose maybe that's why some them can't be able to sustain their investments for the long-term . So it is very essential that investors should only prioritise using their discretionary income consistently because that's the only way they won't panic sell their bitcoin investment in the long run .

I know many people use their discretionary income not only to buy BTC, but also for other things, which is perfectly acceptable. However, when someone decides to invest and buy BTC, whether by taking advantage of dips or applying  (DCA) method, they are participating in a market where they effectively manage risk.

Investing in BTC represents an economic strategy, since it's not just about buying when others buy impulsively (when the price of BTC rises, many rush to buy for fear of missing out). Instead, you buy earlier, when prices are lower.

Allocating a portion of your discretionary income to BTC with a well structured and disciplined plan is a solid strategy. If the price drops even further, you can buy gradually, allowing you to build a stronger position over time. That's the real secret to accumulating more BTC.

[Pablo-wood]

For sure it is possible for someone to learn about bitcoin without spending any money. There are free online classes, videos, even forum discussions and articles where they can get basic knowledge about bitcoin. The most important thing is if they are ready to learn and not just about getting free knowledge.
However, the idea of someone wanting to know everything before starting to invest in bitcoin isn't a good idea. For long term investors, they don't need to know everything before they can start to accumulate bitcoin. They can be learning about bitcoin gradually as they are ongoingly accumulating bitcoin , and this is even the best way to learn about bitcoin investment.

Someone can learn about Bitcoin without spending money in terms of getting started with investing but the knowledge he has wouldn't have been tested to yield experience. Someone who start investing while learning will do much better than the person with theoretical knowledge and giving that Bitcoin is broad, Someone who wants to learn first before investing may end in confusion, never getting started begause of being overwhelmed with so many things to learn. It is always better to start investing as soon as the investor is able to set aside discretionary income, then the learning can be done on the process.

I share in your view @obuoma. This thing is quite simple no one learns how to drive without actually driving same thing goes to Bitcoin knowledge. Online classes, Videos and all the other sources will only build theories that can't guaranteed registered knowledge. It takes practical experience to really appreciate the idea and technology behind bitcoin and its investment. Investing sooner than the investor is ready unravels a new set of knowledge that can't be grasped even if they devote a long time learning.

[Loyang]

I agree to this, buying bitcion on the learning process is the best way to own a bitcoin,  no one can actually know all about bitcoin, if you're waiting to learn all about bitcoin before you invest,  you might not get the besdt market price after your lesson. It's always wise to own a bitcoin regardless your knowledge in bitcoin,  there are some people who has zero ideas about bitcoin but they own large amount of bitcoin in their wallers. The only knowledge you have to learn is  the ability to stay in the investment by being patience.  Learning how to buy and sell is the basic things you need to learn and that's enough for you to own a bitcoin. Other classes are advance class on how to hold and keep you bitcoin.

There's nothing to be afraid in bitcoin,  beware that is not a daily ponzi scheme its a long time plan venture. Beware the market is volatile, when you see dip don't be afraid,  just buy and hodl, in the future you will smile to the bank knowing you defeated fear.

Basic knowledge does not say that they need to know anything special, except to know whether they have discretionary income or not and whether it is calculated correctly. We never need to learn to sell to start investing. The most important thing is to start investing. After starting investing, a person can learn a lot, especially when it comes to choosing a wallet, it is never a good idea to wait to start investing. Start investing first and then gain knowledge about the wallet because wallet is a technical matter and a person needs a lot of knowledge to select a wallet and understand about the wallet. So initially keep your holdings in an exchanger and then gain knowledge about the wallet and choose the right wallet to protect your holdings. To start investing, you do not need anything except a source of discretionary income, it is best to start investing and gain knowledge in parallel and move forward with investment and all other methods.