Quote from: Jewan420 on Today at 02:19:02 AM

Quote from: JayJuanGee on April 02, 2024, 11:26:05 PM

There are shitcoiners with legitimate confusion, and they might think that they already know about bitcoin or they know enough about bitcoin.. so frequently a person will not know what they don't know, so even smart people can get sucked into various shitcoin talking points without actually realizing that they have little to no clue in regards to what bitcoin is.

Another thing is that there likely are a lot of people who have heard of the word bitcoin, and they might think that they have some kind of a decent idea what it is, yet merely hearing the word and sometimes hearing some mainstream rendition of what it is, is not enough to actually realize actually what bitcoin is.. and so actually understanding ideas of sound money might be a bit more foreign to people than we presume such a topic as "common sense" when there are a lot of ways that people can get sucked into believing they know more than they do, and it may well be a good idea for some of them to actually spend a bit of time really studying bitcoin specifically.. whether it takes 10, 50, 100, 500 or 1,000 hours of study may well vary from person to person and the kind of source materials they are studying.

Some folks have a lot of difficulties distinguishing between good information and bad information, and they might actually believe the sources of their bad information and believe that their bad information is good information, and so when they actually come across some accurate and informative information about bitcoin, they might skeptically conclude that the good information could not be true since it conflicts with what they believe to be credible sources.

I was listening to a program earlier today about how the greedy companies are gouging consumers by raising their food prices, and so it can sometimes be difficult to realize that money printer go bbbbbrrrrrrr is way more blame worthy than what normies want to give governments more power to control prices - which surely does not seem to be a good solution, and I am not even anti-government, yet we likely should realize that it becomes problematic to have too many controls in place, even though maybe it becomes difficult to get rid of the controls .. so bitcoin and bitcoiners are going to sometimes end up being targeted as part of the problem rather than part of the solution... which still gets us back to either having information available but also having abilities to sort through good information versus not so good information... and we are all not going to agree.. but at the same time do we have rights and/or abilities to disagree or are we told what we are supposed to think and are we accepting of being told what to think.. and do we realize when we are being told what to think versus engaging in our own abilities to critically think about what might really be in our own best interests.

Many a times we have wrong idea about something without knowing the correct and complete information about that thing and fall into confused situation. Many of us have not been able to collect and master the correct information about Bitcoin yet, but we are carrying various misconceptions about Bitcoin in our minds.

There are many people who have a tendency to spread false and misleading information about a subject without knowing the correct and complete information about it. I think that acquiring knowledge or collecting information about a subject should be reserved only for the experienced and knowledgeable person of the society. Because, they never want to be misled by wrong information. Do you think so?

My knowledge of Bitcoin is very poor. From where and how can I get the right knowledge?

Well, why don't you tell us more about yourself.. and have you already started to buy bitcoin.

There are all kinds of bitcoin-specific and bitcoin-related threads on this forum, and there are all kinds of information sources available about bitcoin, so maybe you have to let us know what kinds of efforts you are making to sort through information sources that are already available in terms of your own attempts to figure out which information might be better or which information might be worse, and why do you think so.

Quote from: Dorkylickjj on Today at 02:25:01 AM

Quote from: JayJuanGee on April 02, 2024, 11:26:05 PM

Quote from: Dorkylickjj on April 02, 2024, 04:50:33 PM

.....and other thigns like having an emergency fund which at times would take 3 months or 6months of income to build and having reserves and floats to carry around that would help us have a financial cushioin and maximise our investment in bitcoin.

I understand what you are saying, Dorkylickjj .. but it is still unclear..

Technically, you are correct.

An emergency fund it 3-6 months worth of income - yet more accurately, an emergency fund would be 3-6 months of expenses, and sure if you build up an amount of an emergency fund that is actually 3 months of your income, then it likely should end up going a little bit longer than 3 months - depending upon if you might be able to reduce your expenses during any actual emergency that would end up taking place... and if anyone ends up having an actual emergency, he likely is going to dread if he were to ONLY have 3 months and wished that he were to have more, yet we know that it likely tends to take quite a bit of resources to build up an emergency fund, even one as small as 3 months.. yet it is something that really provides a lot of security and ability to take greater risks and to be more aggressive in terms of investing into something like bitcoin.. ..

Another thing is that many of us likely imagine that if we are brand new to investing and we are living in a way similar to many people, we might start out with only 2-4 weeks worth of float, reserves and/or emergency funds, and so we might have frequently considered that 2-4 weeks is quite a bit of "extra cash" just sitting around and just there for various shortages in cashflow, and we might be able to get by for years and years and years with such pracices of sparsely maintaining savings and/or any emergency fund.

So if we are wanting to build up our current emergency fund, float, reserves to be at least 3 months and likely to have a bit more than 3 months in there, then it well could take us 6-18 months to build it up to such higher levels.. .. just depending on how much discretionary income that we have and if we might simultaneously be wanting to get started investing into bitcoin and building our emergency fund, reserves and float at the same time that we are making our earliest investments into bitcoin and sat stacking.

I think I'm getting closer to having a better understanding of this, the larger your emergency fund is the more financial cushioin you have for investing into bitcoin and let's say that I have been building up an emergency fund for up three months from my income like about 5% going into that and I'm investing a total of 15% weekly into bitcoin, then my emergency funds would actually need a higher time to mature to be a good financial cushioin for me in my investing or do you feel its a good idea to make them equal,

Ultimately you have to figure out your own balances that relate to the various resources that you might have available to you, how steady is any income and/or expenses that you have and how likely are you going to end up needing the extra funds, because the emergency fund, once you establish it, you should not be dipping into it. It would just be there and always available. Of course, since you do not want to our need to dip into your emergency fund, then many of the times if you might have shortages of cash, you would be working with your reserves and your float.. so yeah you gotta figure out how much of those various categories to keep available, and surely the larger your BTC stash gets, then that also might affect the extent that you might feel that you need to be diversified in other assets... whether that be in cash or otherwise.. .. sometimes we could think about various other forms of investments (besides bitcoin) as ways of holding cash in different kinds of ways and to be able to earn interest or yield or dividends or that it might also appreciate but be something other than bitcoin, even though bitcoin and cash will tend to be way more liquid while other forms of assets may well be less liquid, but holding value in various ways will give you options to spend from the less valuable assets prior to touching your bitcoin in the event that you might conclude that bitcoin might be the best of your investments that you don't want to touch or being playing around with until it reaches a certain size in which you would thereby start to authorize yourself to start to dip into it. within systems and under circumstances that you have already established for yourself, once you get to such an overaccumulation level that could take 4-10 years or longer just to build your BTC holdings to such levels.

Quote from: Dorkylickjj on Today at 02:25:01 AM

allocating equal amount to both building up emergency funds and investing in bitcoin,

When you are in your earliest stages of building your emergency fund, there likely would be some benefits in building them together and then at least you would be making progress in getting started in terms of investing into bitcoin. Many times emergency funds are form of cash that are very liquid but they may well not be earning any interest or gaining value, so there could be some sense that those funds are neither working for you and that they might be losing value as fast as you can build them up, so in that sense, you might have quite a bit of hesitancy in holding very much value in cash and/or cash equivalents, even though it is likely in your own interest to keep such cushions, especially once you are building a BTC stash that you likely are not going to want to touch for 10-20 years or maybe even longer.. depending on your own investment timeline.. .. but surely even if you might not consider that you do not want to touch your BTC for a long time, you might be able to get your BTC stash to such a high enough level that you start to feel comfortable to consider either dipping into it or maybe just discontinuing in terms of adding to it, except maybe ONLY during significant dips if they end up happening.

The development of your own situation of the value of your BTC stash and other circumstances is going to inform you how to manage and maintain it once it starts to increase in size, so long as you likely realize it is amongst the best of the assets that you hold.. which likely should have good chances of remaining a good perspective, even though each of us has to figure out our own senses of valuating and balancing our properties, investment allocations and other assets/currencies.

Quote from: Dorkylickjj on Today at 02:25:01 AM

since my investment is technically unsafe if I don't have a good emergency fund, and yeah I'm just well above 20, still in collage so I don't think I can cut down my expenses any further than I am able to.

Of course there is likely going to be some variances, and sometimes, you might have reached a good balance regarding what you are doing that is going to work until your circumstances change and then from time to time, you may well end up having to reassess.. just like if you suddenly had an expense that you had not expected or you suddenly receive some income that you had not expected. In either case, the longer that you practice balancing your various finances, the more you will be prepared to deal with either situation of an extra expense or extra income coming in to you.

Quote from: Troytech on Today at 02:49:17 AM

Quote from: JayJuanGee on Today at 02:01:16 AM

[edited out]

and just lake the two guys from your hypothetical guy1 and guy 3 that started earlier although not as aggressive as guy2 but end up having a better stash than him and would take guy 2 up to 14 years to caugh up with them even with his level of aggressiveness, so yeah they is a reward for starting early in your accumulation.

It is quite likely that guy 2 has a kind of personality that he is likely going to be able to catch up and pass up both guy 1 and guy 3, and guy1 he will probably pass fairly quickly, but you are right, it could take him a long time to catch guy 3 (maybe even a few bitcoin cycles), and that is presuming that each of the guys are just versions of themself and stick with their same kinds of personalities that are different from one another.... and of course, in the real world, there are no guarantees with any thing, and sometimes personalities change, even though part of the attempt with those 3 hypotheticals were to show someone with similar circumstances, but only a few differences in the variables,

so in some sense we could just say that guy2 is merely competing with alternative versions of himself.. versions that were more whimpy in their investment style but also versions of himself who had found out about bitcoin 7 years earlier than he did.. so guy2 remains quite disadvantaged, but not so disadvantaged as that he should give up because he cannot change the past, and he can ONLY start to invest into bitcoin after he finds out about it. He cannot turn back the clock, so his finding out about bitcoin later than guy1 and guy 3 does not mean that he should not get started in terms of investing into bitcoin right away and within the boundaries of his own circumstances.. including that his circumstances are going to change with the passage of time, and some of the aspects are somewhat knowable and other aspects of his circumstances are merely projections of various things that he believes might happen..

Quote from: Chibit01 on Today at 09:30:41 AM

When it comes to differentiating between "Shitcoin" and "bitcoin," it's important to understand their informal meanings in the cryptocurrency community:

- Shitcoin: This term is often used informally to refer to cryptocurrencies that are considered low-quality, unreliable, or potentially fraudulent. Shitcoins may lack a solid foundation, have little to no real-world use, or be associated with deceptive practices......

- bitcon: bitcoin is a term used to describe any cryptocurrency other than altcoin. It stands for "alternative coin." Bitcoin is a wide range of cryptocurrencies, which has its own unique features, purposes, and technologies. Which happened to be the Most popular coin right away.....

Bitcoin" is a general term for any cryptocurrency other than any other coins "Shitcoin" is a more colloquial and derogatory term used to express skepticism or criticism towards certain cryptocurrencies. It's essential to conduct thorough research and exercise caution when considering investments in any cryptocurrency......

So in this case you can not in any way compare the both together.. bitcoin has always become the best and sophisticated coin that no other shit coins can compare or context with in any way or value.....

I doubt that your attempt at clarifying is very helpful.

Just think of the term cryptocurrency as an ambiguous term that should not be used unless you are clear about what you mean, and whether you are talking about bitcoin or something else. If you are talking about bitcoin, then why not use the term bitcoin, and if you feel that you need to talk about some shitcoin or some broader context, so you use the term cryptocurrency to refer to bitcoin and other things that are related to bitcoin, such as shitcoins, then you clarify that is what you are talking about.

If you say that bitcoin is just one of many types of cryptocurrencies, even if you might be technically correct, you are both wrong and being ambivalent, and perhaps even being malicious if you are trying to suggest that other coins are similar to bitcoin merely because they are copying bitcoin or trying to affinity scam related to either being equal to or better than bitcoin or otherwise creating ambiguities that failure to help in the understanding what bitcoin is prior to just placing bitcoin in some kind of vague, ambiguous and potentially misleading category.

Just think of the term crypto currency as a kind of attack upon the understanding of what is bitcoin.. so in that sense if you use the term "crypto", then you at least clarify what you mean by your use of it... and your clarification of your use of such term might also overly confuse why you need to use such terms in the first place, especially if you might have meant to be talking about bitcoin, then frequently it will be better to just use the term bitcoin and otherwise specify what else you might be talking about in relation to bitcoin if you are wanting to talk about something more than bitcoin. ..

If you are using the term crypto and you are talking about something other than bitcoin, then you can also specify that you are talking about various non-bitcoin terms to the extent that you might want to say something about various shitcoins it also might be good to specify which ones you are talking about or if you are just speaking in generalities to say something about the shitcoin space...