Quote from: Smilevictorobinna on Today at 12:24:12 PM

Quote from: promise444c5 on Today at 11:01:42 AM

Quote from: rachael9385 on Today at 12:34:51 AM

Quote from: JayJuanGee on May 22, 2024, 06:37:50 PM

Waiting is not an investment strategy... whether your starting goal (ideas) is 1 bitcoin or some other amount...
Hmm, I get the point now.

Even without any knowledge, one can still start investing in Bitcoin and in the process of investing one can learn.

Exactly now you get the point.... it will be very stupid to wait and learn when the price of What you're learning keeps appreciating day by day.
Once you're determined then the investment should started ASAP without any further delay and the best strategy beginners could use without even knowing anything about bitcoin is the DCA strategy , its simple and straightforward ...
Besides, learning to me is a continuous process which might even take forever so waiting to learn before investing when you think you know it all Cheesy

( that person must be a clown) is so dumb, although as a beginner you need to know some basics like choosing a wallet and keeping it keys safe( that can be learnt in just a day), he/she will be holding there's no need for getting too much In learning about the technicals as a beginner although understanding how transaction works while you invest could be a great idea so you won't get your self stucked up with alot of inputs on the long run, focusing on your DCA strategy will be the greatest advice for beginners too even when they already learn other strategies, a time will come when there will be a need for other strategies which is definitely not at the beginning of ones investment .

Sometimes too much in strategy will make beginners confused in carrying out their investments. I believe beginners need a basic foundation to carry out their strategic planning better and achieve the targets they want. The big difference may be in terms of knowledge about Bitcoin, which means beginners may need an approach to see the big cycles that Bitcoin has gone through. Yes, basically beginners can start with the DCA Strategy if they are not able to think about the distribution of funds for several other strategy practices.

Even though investment success is triggered by individual self-confidence, in Bitcoin investment you must be able to know more about Bitcoin and why you are interested in buying and holding it. Sometimes people out there are still quite unfamiliar with Bitcoin and they don't understand enough and this is where an approach is needed for those who are really beginners in investing in Bitcoin.

In essence, we are in the modern era and Bitcoin has the advantage of being a very promising investment for old age. Apart from that, the price of Bitcoin is very fluctuating and use it cold money that is ready to lose. I mean you don't have to worry if the price drops very deeply because you really don't need the money you invest in Bitcoin for other purposes in your life.

Even though many large companies continue to buy Bitcoin, I think there are still many people who don't understand Bitcoin. Maybe because they miss out on information because they live in remote areas or have difficulty accessing the internet. Yes, for those of us who have bought on dips, keep the Bitcoin we have for the long term.

The most basic things that beginners (newbies) need to know is about their own personal finances and not about bitcoin.

So the main thing that they need to know is whether or not they have a discretionary income and a kind of ballpark idea of what it might be, and surely they might have really shitty financial circumstances, which would mean that they need to invest less rather than more while they are sorting out their particulars.

There may be some need to figure out information regarding from where to source the first bitcoin purchases, yet in the very beginning there may well be absolutely no need to figure out how to achieve self-custody, even though self-custody may well be some kind of goal to get to that point in a fairly soon period of time after starting to invest into bitcoin (yeah, without self-custody it is price exposure and not ownership of actual bitcoin, yet knowledge of self-custody is not a prerequisite in terms of getting into bitcoin).

Quote from: wmaurik on Today at 03:37:44 PM

Quote from: Mayor of ogba on Today at 03:14:43 PM

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What I'm wondering is who you are suggesting this to, because I don't think @JayJuanGee knows about it, and neither does @rachael9385. I am quite sure that these two people must already know very well about Bitcoin and are also very solid in their knowledge of Bitcoin so that it will not be so difficult for them to make an investment in Bitcoin because they definitely know how to use funds for Bitcoin. Moreover, if the reserve funds you are referring to can only be relied on for three months, at least it will not be enough for investors who have the aim of long-term investment in Bitcoin.

Because for an investor who has a strong desire to be able to invest in Bitcoin, he will definitely look for a way to do this without interfering with his own activities in life. Because this difficulty usually occurs for those who are lazy and don't want to look for ways to invest in Bitcoin or for those who still don't believe in Bitcoin at this time and forever.

Surely, I am not of the position that a newbie needs to learn about self-custody prior to getting started (with bitcoin price exposure), and I frequently suggest that the main things to know is about some ballpark ideas about your disposable income being enough to get started investing into bitcoin, whether that is starting with $100 per week or $10 per week or some other amount that fits into the newbie's financial/psychological situation.. and yeah, there may well be some needs to error on the side of conservative, if the newbie might not have a strong grasp of his disposable income beyond merely having ballpark ideas that he has a disposable income.

Another thing that other forum members refer to is having conviction about bitcoin, and surely there might not need to be any kind of strong conviction to get started, yet the lack of conviction and/or knowledge about bitcoin may well justify investing less aggressively during any process to build such conviction.. so yeah, maybe there is enough of a conviction to start to invest $10 per week based on the recommendation of a friend, but then later there might be increased conviction that allows the same person to increase the weekly amount to $100 or some higher amount...or to take other investment actions depending on their actual disposable income and other aspects of their financial situation, including various considerations of their 9 factors that can be built upon and studies. .and even tweaked for years down the road, yet not even having strong grasps of all of the 9 factors would not prevent from getting started into bitcoin, but having strong grasp of the 9 factors could well justify becoming more aggressive in terms of bitcoin investing, if that is what the newbie considers to be a reasonable/prudent approach based on their assessment of those matters..

Quote from: Zackz5000 on Today at 03:57:08 PM

Even in business if you don't have any basis knowledge concerning the business you want to venture into you will definitely have a run down because you don't have any basis knowledge how the business works so I believe having basis knowledge in what so ever thing you want to do is very important. For I have seen someone that failed in business because he saw others doing well in and he decided to venture into such business without even having any basis knowledge about the business at the end the business collapse due to zero knowledge concerning such business.

One of the better things about bitcoin is that it is not a business, so you can choose your level of commitment with way less knowledge and/or skills. .and you can figure it out as you go.

Bitcoin has a potential to open the door to a lot of folks who otherwise would not be in a very good position to invest. .but yeah, they still have to be careful to not overthink some of the comparisons.. and yeah, it can still take a long time to really get to know bitcoin (and still not really know it very well), but even with all of that, an overwhelming majority of the world's population remains either low coiners or no coiners, and perhaps somewhere in the ballpark of 99%-ish, so the default idea in regards to bitcoin is to get started rather than fucking around with comparisons that either do not fit very well or they suggest waiting or needs to study bitcoin more.... blah blah blah.

Quote from: red4slash on Today at 07:35:23 PM

Quote from: JayJuanGee on May 21, 2024, 04:27:09 AM

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Maybe if indeed when we enter the total monthly investment expenses plus our needs for 1 month it will seem to be misleading but in this case I personally distinguish the calculation notes to make it easier for myself to manage the finances that I do.
For example, this month I have an income of around $300 a month and I spend $200 for personal needs and around $50 to buy bitcoin. I will make different notes for investments where indeed in the ledger the financial records will definitely remain $250 as this month's expenses but when talking about bitcoin we definitely need another record where there must be a record in the expenses we make for the purchase of bitcoin so that we know how much we have spent on bitcoin while we are here and that in my opinion is important as a consideration and as a belief that in the end being in bitcoin is profitable so that we don't not know how much of our money we spend on bitcoin and how much profit we can take.

But indeed in the end maybe this depends on what we are comfortable doing because the most important thing in this case is that we don't mess around with the way we manage money regardless of the different ways that are done and the mention of something in the end the goal remains the same, namely bitcoin investment.

In your example, if a guy is buying bitcoin with 25% of his expenses (50/200), then after about 4 years, the guy would have invested a whole year's worth of his expenses into bitcoin.. .So that would not be a bad place to be in terms of building a BTC holdings that has greater chances of getting him to fuck you status or some kind of a status in which he can start to employ sustainable withdrawal.

I wonder how important your ideas about profit taking is? Sure we want to be in profits or even presume ourselves to be in profits with the passage of time, yet if the guy in your example continues with his practice of investing 25% of his expenses into bitcoin per year for 12 years, he has therefore invested 3 years worth of his expenses into bitcoin at the 12 year mark. So then maybe the other question might be how bitcoin ended up performing over that time in order to allow the amount invested to grow at least with the cost of living increases and perhaps more than that. ... even though there are no guarantees...

So I am not necessarily going to presume regarding how much profits the guy might be in, yet I would suggest that the value of his holdings may well help to guide him in regards to whether he needs to continue to invest/accumulate bitcoin or if he might bd ready to start to employ some other strategies that might either be just maintenance or perhaps getting into various kinds of withdrawal practices, whether that would be time-based withdrawals and/or raking kinds of strategies.

Surely we make our own assessments regarding where we are at and how we might want to replace and/or supplement our income with bitcoin withdrawals if we happen to get ourselves into such a position.