Quote from: JayJuanGee on Today at 02:25:55 PM

Quote from: Makus on Today at 01:36:54 AM

Quote from: JayJuanGee on September 30, 2023, 11:57:26 PM

I am surely more inclined towards suggesting that people do not delay in getting started in terms of investing into bitcoin, but they still need to be spending some times making sure that they do not overdo their investment and they are working on learning as they go, which may or may not be a big ask.. but any investment does require at least some basic understandings regarding personal finance management in order to understand that investment monies is coming from discretionary income rather than being money that might be needed for living and/or emergency expenses, so if anyone new to bitcoin has not gone through some preliminary steps in terms of managing their own finances, then yeah they will likely end up getting themselves into trouble at some point not being able to hold through hight BTC price volatility periods.. which could be either selling at a loss or even selling too much too soon during periods that the BTC price is volatile to the upside.

In support of your comment I will say, it's not advisable for a person to jump into holding without having enough knowledge to guide him/her during the holding journey. Because, such person is prone to letting their emotions decide for them and that is as good as giving a one year old child a knife to play with as a toy, the outcome will always be disastrous. When emotion is made the decision making element of an investor instead of knowledge, the losses are incomparable.

Before one starts holding, it is crucial to have a broad understanding on the asset he or she intends to hold, if buying isn't the problem then I suggest knowledge before holding.

I don't completely agree with what you are saying, because it seems that I am more of the get started as soon as possible camp.. and learn along the way. .even while at the same time, there are some basics that either need to be know or that should be knowable to most people - in spite of the tendencies that people have to gamble, rather than invest...

I have mixed ideas about your example of giving a knife to a 1 year old as a toy... . so I thought that kind of an example has quite a bit of potential... but then maybe it is a bit patronizing to be comparing newbie investors to infants of such inexperiences.. or that they are being given something.. so surely everyone has responsibility for their own actions, and surely the younger the kid, the less autonomy they have and the more they are completely dependent upon their parents.. but as they get older they become more and more able to support themselves, so whether we presume bitcoin investors to be adults or not, we likely need to be attempting to consider levels of maturity to be something like adults that might not be able to control their own impulses because they have not learned certain money management skills and/or many times they will not have much if any investing experiences... so those surely are dangers for normal people,.. and dangers for some more than others, even though I do attempt to presume adulthood even if some people who are first starting to invest into bitcoin might be a bit immature in their development of some of the seemingly basics.

I also support the idea of getting knowledge before the investment, like @makus already said earlier, about a child and a knife. That's a good instance. Let's think about the fact that new investors don't have any idea about Bitcoin but have the money for Bitcoin, and they bought BTC, and they don't have any strategy to accumulate or don't even have patience of hodl for long periods. What will be the benefits if they don't have Bitcoin knowledge?? Although investing in Bitcoin is important, having knowledge of Bitcoin is also important too. So I will agree that knowledge is the most important thing about everything.... If we don't have the knowledge of Bitcoin and also have no strategy, then we are at a loss in our investment.

From kids to adults, as a new investor, we should learn gradually as learning is a gradual process and not get all the knowledge of Bitcoin in just one. There might be a loss in our investment, so we can learn from it.