For sure, I am have been trying to suggest parameters to begin to think about minimum timeline for investing into bitcoin, and surely there is no real way to know all of the particulars of any given person, and surely each person has to decide for himself if he is engaging in investing or trading, and if he can figure out ways to incorporate bitcoin into his life after investing into it for 4-years or longer.
I think for someone who is knowledgeable enough about the crypto market and have a backup funds in place, would not just enter the market to buy and hold ignorantly and when they start having financial burdens, the next alternative will be to go back to their Bitcoin holdings and sell part or even all if the financial burden is bigger than their whole Bitcoin portfolio. Every crypto investors need to be conversant with reading books that would help their understanding about the crypto market, not just trying to invest in cryptocurrency and make money with nothing in their head.
We are not talking about shitcoin and/or crypto in this thread, so there would be no reason to try to figure out various aspects of crypto or shitcoins.
On the other hand, for any beginner to get started investing into bitcoin, there would be some needs to have some basic senses of whether or not they have discretionary income.
Investing into bitcoin should not come from money that is needed for expenses... so those are basic cashflow management practices that would be important to improve, especially for anyone who is really trying to be a bitcoin investor whoe is planing to hold onto their bitcoin for 4-10 years or longer... rather than a trader who might not have a longer timeline.
I would suggest that not very much knowledge is needed about bitcoin in the very beginning in order to get started investing, yet surely no one should be taking large position sizes in bitcoin or anything else if they do not have some level of knowledge about it. Yet, at the same time, to get started investing into bitcoin, surely the ONLY basic thing to know would be whether the investor has discretionary income or not. If the person has messed up finances, cashflow or cashflow management, and/or psychology, then he can fix those matters while already having had started investing into bitcoin, yet surely the newbie investor would need to figure out whether he has discretionary income to be able to get started, whether that is $100 per week or $10 per week or some other amount that he might feel is a reasonable amount to get started.
I am not going to presume people are immature, and that they can figure out some of the various basic cashflow management matters for themselves, and if they have inabilities to figure out basics, then that is on them.. .since each of us is responsible for our own actions and our level of due diligence, including our considering
our own personal factors.As far as shitcoins are concerned.. I would suggest to completely stay away from them and stay focused on learning about bitcoin first, and learning about your 9 individual factors through bitcoin investing, and if they cannot control themselves and they want to trade, gamble or to fuck around with shitcoins, then they should limit their financial, time and/or energy exposures to those matters to less than 10% the size of their financial, time, energy investment into bitcoin.
I would suggest that most people who have a discretionary income already know the extent to which they might have back up money in place that might constitute 2-6 weeks of their expenses, and sure, if they are investing into bitcoin, their back up funds become more important, especially the larger their bitcoin investment grows. So if they might be new to investment and not used to building up an emergency fund that is at least 3 months of their expenses, they can build up their emergency fund and their investment into bitcoin at thje same time, since they should realize that they should not be wanting to touch their bitcoin at a time that is not of their own choosing, which may well be 4-10 years or longer down the road.. .
Any newbie to investing (or bitcoin) should be able to work out cashflow management systems and even various back up funds so that they will not end up touching their bitcoin at a time that is not of their own choosing and to prioritize building their bitcoin investment through various forms of buying, and so tapping into their bitcoin or selling their bitcoin should not be part of their concern, once they develop an investor's mindset and an investor's approach to their bitcoin, which yeah, they might not have that investor mindset from the very beginning, which might end up getting them into trouble in regards to making sure that they are building their bitcoin investment through buying bitcoin on an ongoing, regular, persistent and perhaps even aggressive basis, and selling any part of their bitcoin (except maybe spend and replace) should not be part of their plan, practice or anything that they inadvertently (or sloppily) fall into.
yes, they can learn as they go, and they do not need to know all things related to bitcoin investing prior to getting started, even though surely it would be better to stay away from shitcoins and control their temptations to get into shitcoins, yet people are going to do what they want, including dumb things.
Yes, people can treat bitcoin as a long-term trade, and end up spending 4-10 years or longer building up their bitcoin holdings in order to sell, which surely does seem short-sighted, yet there is nothing that we are going to be able to do in order to get folks into an investing rather than trading kind of a mindset.
What I've noticed about trading is that there are more traders who are unfortunate than investors. Trading has looked like a quick way to make money just like gambling and many people who do not know how to go about their trading journey would think that majority of traders are truly making money from it.
It is hard to know how to suggest that folks do not get sucked into trading, and to work on building their bitcoin investment holdings first, but yeah, if they cannot resist to trade or gamble, then maybe they could at least limit their exposure to less than 10% the size of their bitcoin investment.
Majority of these influencers are the ones making the most money, selling trading signals and giving out VIP signal groups for a penny. If actually they know how to trader and their strategies are working fine, I don't think they would want to sell it to the public to know their pattern of trading and secrets.
Is there anyone that would want to expose their secrets of making money to the public because of a penny? No!
It's funny actually, even Coca-Cola would never do such a thing!
People do get sucked into trading and they don't always realize the difference between investing and trading. We have folks coming to the forum and trying to push various trading ideas as if "anyone can do it" blah blah blah.
Surely, there are some folks with Age and/or health considerations that would not necessarily be able to commit towards investing into bitcoin for long periods of time, such as more than 10 years, but they may be able to commit to something like 4-10 years and then just see how it goes in terms of their cashflow and if they might start to need the money within 4-10 years rather than being able to hold onto their bitcoin investment longer.
Holding Bitcoin for upto 4 years is even enough to make a significant profit but many do not know. The problem of many holders is that they don't have extra funds they could be using for clearing bills and other necessities.
I think that most people should come to bitcoin thinking about investing 10 years or longer, yet sure, I frequently suggest 4 years or longer, since ther could be age or health reasons that a bitcoin newbie might come to bitcoin and have a 4-10 year timeline rather than a greater than 10 year bitcoin investment timeline.
When there is no alternative funds, how would you be able to hold Bitcoin for too long? This is why we keep seeing the rich making more money because they have results and they are ready to take risks and invest in cryptocurrency without any panicking.
Then old and retired most time do better than the youth when it comes to holding and making proper savings.
Anyone used to investing or who already has potential investment funds (including lump sum funds that they can frontload their bitcoin investment) are going to have more options than normal people who do not tend to have extra money outside of their regular income that they can put into bitcoin.
The mere fact that a rich person has advantages over poor people does not mean that the rich person will take advantage of his better financial position to invest into bitcoin. There are plenty of rich people who are not motivated to learn about and know about bitcoin, so a poor person who is aggressively looking into bitcoin and investing into bitcoin to the best of their aggressive abilities, without overdoing it, may well be able to get advantages over those people who are either choosing not to invest into bitcoin or are taking whimpy approaches to their bitcoin investing. There are a lot of folks (perhaps 99% of the world's population) who still have not taken sufficient actions to start their bitcoin investment journey. So any of us who are taking advantage and taking action to get started in our bitcoin investment are going to be advantaged over folks who are failing/refusing to act, or acting whimpy or employing waiting as their bitcoin investment strategy, meaning that they are not actually buying bitcoin on an ongoing, regular, consistent, persistent and perhaps aggressive ways.