Newbies need courage, but also they need to start, so if they are having dilemmas in regards to the various points that you are raising, then they still should start and adjust their position size to a smaller amount.
And, yeah, they might have to create a list and then figure out which parts of their list has higher priorities.
They are not sure if they believe in bitcoin as an investment or not as compared with other places that they could put value.
I believe not everyone knows a lot about economic to be able utilize the scale of preference rule. To becoming a good economist it takes years of study and perseverance. While reading through your response i come to the agreement that we dont need to be an economist to know what should be of priority. Adding to creating a list the next thing to do is to pros and cons to each item on the list. Then calculate the one with the highest score that is how we know which should come first.
if they choose to invest $10 per week while they are researching further into the matter, they still have to dedicate some time for figuring out from where they are going to source their coins. and other kinds of actions related to that. They also have to make sure that $10 per week is a sufficient amount for them to get started.. so they might have to figure out some aspects of their own budget.
Maybe if they are choosing to invest $10 per week into bitcoin, then maybe they would also be able to figure out a way to dedicate a minimum of 2-4 hours per week studying things that are related to bitcoin.
Exactly what i had in mind. But dont you think they should invest using percentage of their discretionary income instead of investing with a particular amount in mind. So that when there income increases while they are still making further research they will choose if they want to decrease or increase the percentage in the long run. $10 should be a minimum amount to be use for their investment.
Since there are so many variables regarding how folks are accustomed to managing their cashflows, it can be difficult to prescribe any exact way that a person might figure out how much he is able to invest into bitcoin each week, whether it is $10 or some other amount, and surely some folks have more regular income and expenses as compared to other people, and surely some people have more discretionary income than others, too, so the ones with more discretionary income will have more options as compared with the person who barely has any discretionary income or the one who has to figure out ways to increase his income and/or to decrease his expenses in order to be sure that he has discretionary income and also to be sure that he has calculated correctly so that he is actually buying bitcoin with discretionary income rather than with money that he later needs for expenses.
There are a lot of folks who may well be a little bit sloppy with their cashflow management, and they are more easily able to get away with being sloppy if they had never engaged in a process of building an investment and also trying to build systems in which they are going to be able to withstand any temptation to tap into their bitcoin investment at a time that is not completely of their own choosing and also in line with their hopefully BIGGER goals of investing into bitcoin rather than trading which would mean adopting an investment that is 4-10 years or longer.
It can take time to both develop the practices but also to reinforce the practices and to spend time learning about their investment, even if they are ONLY able to spare 2-4 hours per week in their ongoing learning process.
If they choose to buy $10 or more per week on bitcoin and they spend hardly no time learning about bitcoin and they think that they will just learn about bitcoin without any effort, then they may well putting themselves at an information disadvantage and not knowing hardly shit about the thing that they are buying. which truly is not going to help them to build conviction about bitcoin in terms of really figuring out what bitcoin is... and surely I have some real world friends who buy bitcoin and shitcoins for even more than a whole cycle, and who still seem to hardly know the difference between bitcoin and shitcoins, even though every week they are buying bitcoin and shitcoins... and from my perspective, there is some kind of a disconnect with some people, and it can take a long time for some normies to actually learn about bitcoin and to even figure out how bitcoin differs from shitcoins, even when they seem to be otherwise smart people.
You made it more understanding to me now. A folk might have more income than the other while the other will have more discretionary income to invest with. So the income does not determine if the discretionary income will be high to invest with what determines our discretionary income is actually how less the bills and expenses at hand can be. For someone having more but taking much responsibility to himself he might have less discretionary income compared to a folk who earn less but have little expenses to make with no responsibility.
Well, there might be a way to manage our expenses even if there are some expenses that are mandatory every month. Like our utility bills, gas, feeding to mention a few others. Cutting down unnecessary expenses will increase our discretionary income.