Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy Buy Buy or Sell Sell Sell?
by
JayJuanGee
on 07/10/2024, 00:26:15 UTC
⭐ Merited by tiCeR (1)
Yeah you are right a newbie can get an idea of Bitcoin very quick and then start investing, some people believes before a newbie will start Bitcoin investment he will first of all have all the knowledge of Bitcoin but that's not right all that is required of a newbie is to have the basic knowledge about Bitcoin and it's investment and then start investing as time goes on he or she will be knowing more about it, when it comes to bitcoin investment you can't know everything or more without going to it so when a newbie has the basic knowledge he or she should start his or her Bitcoin investment this way the newbie will discover the way he or she should go about his or her investment that will be more easier everything will be more clear to you when you start your accumulation and holding and I will also advise you take this forum seriously Because you will also learn somethings here.
When you have basic knowledge about Bitcoin and then decide to run an investment, this will be very good, but you need to remember that when you decide to invest, you must continue to learn until you really understand it well and most importantly for anyone who wants to start, they must be able to keep their wallet keys well and do not lose access to their wallet after collecting Bitcoin.
Yes, in this forum we will be able to gain knowledge about Bitcoin and as a beginner it will certainly be better to choose to maintain their assets in the long term and also have to use funds that they will not take until the target they have set has not been reached.

I doubt that it is necessary for anyone to learn to hold their own private keys before getting into bitcoin or even to do that right away.  A person can get started with third-party custodial solutions and then transition into learning various kinds of self-custody possibilities.  The level of security that a person needs or even their decisions in regards to UTXO management could affect how they hold coins.

I keep reiterating in various threads that one of the most basic kinds of knowledge that a person needs to get started investing into bitcoin regards whether he has a disposable income or not that he is able to invest in bitcoin for 4-10 years or longer, so even if he might just start with $100 per week, he should at least be able to figure out if that is within his disposable income or not, and as far as knowledge about bitcoin, he likely would ONLY need to consider that bitcoin is a good place to put money for 4-10 years or longer, and if he is not sure about that conclusion, then he can adjust his investment amount downward until he is comfortable and then he can learn about bitcoin enough to reach a conclusion that he is more comfortable investing higher amounts into bitcoin that would be locked away for 4-10 years or longer.

Anyone wanting to buy bitcoin on shorter than 4 year timelines would be trading rather than investing, and personally I consider bitcoin to be an investment rather than a trade, and surely there might be some folks who get into bitcoin and they are considering keeping it for shorter than 4 year timelines and maybe trying to play our current cycle to their advantage, and sure people can do what they like, yet I would still classify shorter than 4 year timelines as trades (or gambling) rather than investing.. which is fine.. people can do what they like, even dumb things (which might be the case if they are not able to spend enough time to actually learn what bitcoin is and/or to appreciate that bitcoin is likely better as an investment rather than as a trade.