Quote from: Salahmu on Today at 10:53:24 AM

Quote from: Bd officer on Today at 06:55:21 AM

Many people think that investing in bitcoins doesn't require much learning, yes investing in bitcoins doesn't require much learning, if there are some minimal ideas to invest.

As it was explain by @Jay on the previous messages above, so putting it on my own understanding, in as much as learning is important we can never compare learning and a beginners who has started investment and at the same time learning, so however in times of investment telling a beginner to focus more on learning could discourage him but however if they were able to start investment it make it more interesting and easier for them because they are seeing everything they need to know, so lets not allow learning clound our judgment in times of investing on bitcoin.

However using my school days for instance, there are some practical courses we normally do and whenever our lecturers tries to explain it theoretically without practical it becomes difficult to understand but when he took us to the workshop things that we were feeling was difficult when he was explaining in the class became so easy more than even the way he was explaining it so in times of investment when a beginner learns from his investment it enhances his knowledge to easily understand what investment is all about.

Not ONLY does action help each of us to potentially learn better, it helps us to tailor our learning (and our actions) to our own situation, which helps us to learn more about ourselves, our boundaries, our ways of learning, our inclinations to take risk (or not), and the various little and difficult to understand ways that we would not be able to see very well without putting theory to practice.

Another presumption is that each of us already comes to bitcoin with some kind of life knowledge - since we are likely not 5 year olds playing with knives, yet even if we might not have very many abilities to manage money, we should be able to learn those kinds of basic skills such as figuring out how much money do we have coming in, and how many expenses do we have.. Are our expenses necessary or some of them can be cut, and how about our income can we increase it, or is it unstable. Once we know how much money we have left, then we can figure out how much to divide that into our cashflow reserves, our emergency fund, and then what is left from that can be put into bitcoin.

These sometimes seem like complicated ideas, but they are ultimately basic ideas that any of us can learn, but we are not going to learn them without practicing them and also letting them run over time to figure out how disciplined we are and whether we are getting emotional about how much of a reserve that we are maintaining and in which direction and might there be some things that we can tweak in order to help us to become less emotional about how we are balancing these matters.

Of course, knowing things about bitcoin is helpful, but it is not the most basic of things, and so we have to make sure that we have the most basic of things in better order before we get too caught up in focusing on bitcoin.. and it is not like we cannot accomplish some of these learnings simultaneously, but the fact that we might feel like dummies in regards to some of the basics does not mean that we should not get started right away, including figuring out whether we have $10 that we can spare to just get started... and yeah maybe it would be better to start out with $100 or $200, but if we ONLY have $10 that is available without encumbrances, then it is better to start with the smaller amount and maybe tell ourselves that in one or two weeks (or months) we are going to inject another $100 or $200 into bitcoin,

but in the earliest stage, after we merely bought our first $10, we might be spending some time organizing aspects of our own finances and learning basics about where to acquire bitcoin and where to store it and then maybe if there might be alternative means of doing it in our community and then are there ways to better organize cashflows and expenses in order to get some better grasps upon how much extra money is available to potentially invest in bitcoin and also to perhaps simultaneously establish and/or shore up cashflow reserves and an emergency fund if we had never previously thought about making sure that we have those things in place for 3-6 months, and if we do not have any, then we might have to do a lot of purposeful stressful learnings just to get those kinds of matters into place, which could take 6 months to a year to merely make sure that we have at least 3 months of cash (or otherwise liquid - non-bitcoin) reserves... so even if we are establishing all of these basics in our lives, we should not be stopped from making sure that we include bitcoin in the mix, even if we can only get ourselves to a point of feeling comfortable with a mere $10 invested, just to get started and then figure out from there how to build our bitcoin while shoring up other aspects of our finances and psychology so that we end up investing into bitcoin for 4-10 years or more rather than using bitcoin as a means to gamble in various kinds of short term ways that may or may not play out if we are fixing our systems without longer term thinking in mind.

Quote from: Patrol69 on Today at 12:27:34 PM

Quote from: Popkon6 on Today at 03:58:08 AM

Quote from: Fauderz on November 20, 2023, 11:47:43 PM

Actually in this situation I think it is optional. We do need to learn about what bitcoin is and how to invest in bitcoin but we don't need to learn too much about investment theory if we really want to start because in the end this kind of theory will only make you struggle in learning but not dare to try.
I do not deny that learning is something very important but you should also try to directly practice what you learn because after all we can also still learn by doing so that the theory we learn is directly in the form of action in practice so that you know that what you learn is true or not.

How can you be motivated to invest in Bitcoin if you don't know about Bitcoin investing? Don't you know that the more experienced you are with Bitcoin the more successful you are. Because you don't know what to do about Bitcoin? There are ideas. Because of course our education about bitcoin is very important because if I don't have knowledge about bitcoin then investment is definitely ricks. Only after knowing the information should we awaken our ability to take risks, and invest in Bitcoin to the best of our ability as we move forward into the future. So I definitely prioritize learning about Bitcoin and gaining knowledge about investing.

The most important thing before investing in Bitcoin is to know about Bitcoin and investing first. If we don't have an idea about investment then we don't know where to start and where to end the investment. There's a lot to know about investing, investing isn't as easy as we think, but it's really not that easy. There are many differences between a professional investor and a novice investor. A professional investor analyzes the market deeply before investing but a new investor never analyzes the market so deeply but invests only based on his intuition. Investing is never risk free, no matter how professional an investor you are you have to risk money and then invest.

Even if you might not have had intended to do so Patrol69, you make it seem learning intensive to become an investor, and many people already invest in a variety of ways, even if they might not get their shit together financially, and I would suggest that anyone should be able to get good grasps upon their finances in order to figure out whether they are able to invest $100 per week into bitcoin or if it might be some other amount. Sure they may need to organize themselves and they may even need to figure out their shit during the time that they are not working or juggling kids around or whatever they might have going on in their lives. So if they are not already organized, they might need to organize themselves better, and they do not need to put themselves into novice or professional investor categories, to the extent that a professional investor is even something that anyone needs to aspire to .. makes it sound like trading rather than engaging in basic practices to protect wealth and maybe even to figure out how to budget yourself in a way that you know how much you are putting into bitcoin versus other kinds of places that you might have value, even if you might not have previously thought about your various assets as an investment portfolio...

Quote from: Patrol69 on Today at 12:27:34 PM

Before we invest we need to gain adequate understanding about investing first. When we gain adequate understanding about investments, we are more likely to succeed from those investments. After gaining enough knowledge about investment, we must be sure that we are investing in the right coin. Because choosing the right coin is very important when investing in a long-term plan. After investing in the right coin we need to plan so that we can hold our investment for a long time, because the longer we hold the investment, the more likely we are to make a profit from the investment. Another thing we need to pay attention to while investing is not to get excited due to market volatility. The kind of volatility we are seeing in the market now is often the kind of volatility that happens if we don't get excited by this volatility and hold on to our investments, but we won't get anything good out of that investment.

Even though it is kind of general, there's nothing wrong with any of these points.

Quote from: Patrol69 on Today at 12:27:34 PM

An investor must accept these points before investing and then invest.

I doubt that investors need to do certain things first because sometimes they just need to get started and get into practice and applying knowledge that they likely already have. There is no reason that we need to attempt to be patronizing in regards to the lack of knowledge that people have, even though it might be true that some of them might not have consistently attempted to apply their knowledge in a kind of way to organize their investing and to constantly be learning from what they are doing and having a goals to accumulate bitcoin, whether it is $100 per week or $10 per week, and at the same time learning and organizing around that which might even mean that they might tell themselves that they are going to spend 4 hours per week on bitcoin and/or organizing their finances (and psychology around finances)...

Maybe 2 hours on Sundays and 2 hours on Wednesdays. Huh

? hahahahaha .. I am not sure if that would be enough time, but it would be better to move from 0-1 hour per week and into 4 hours per week rather than sticking with 0-1 hour per week, and maybe later there could be a realization that they might need to dedicate a bit more time to the matter.. maybe 6-8 hours per week.. but little by little and each person has to figure out what quantity of time works for their situation..and maybe they will come to realize that if they really want to get serious about understanding matters, they might have to spend more time on it, but if they are not able to carve out such time, they might have to take a more conservative approach in their investing until they might be able to spend more time, such as 10-20 hours per week for a few months, and then after they have learned further, then maybe they can cut back down to 4 hours per week or whatever is the maintenance amount that works for their situation.