Quote from: BitBakerr1 on Today at 08:16:53 AM

Quote from: JayJuanGee on Today at 04:45:00 AM

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That's true sir, when talking about practice are you talking about the normal way one get involve in his Bitcoin investment, if yes then one can't really understand everything about Bitcoin before starting you must start before you can know everything, it means when you start Bitcoin investment as time goes on you start discovering a lot of things by yourself.

Sure there is learning about bitcoin that goes beyond personal financial management, yet largely I am referring to the act of getting started investing may well motivate someone to attempt to engage in more and more detailed kinds of accounting of his finances, in terms of his bitcoin investment, yet also in terms of his income and expenses and his discretionary income, and then considering how to manage his back up funds that includes how to conceptualize and to manage his emergency funds, back up funds and cash floats. He can project his own finances in to the future and he can measure his past performance. He can lay out various scenarios of his future based on various ways of assessing probabilities and considering scenarios that he considers to be more likely or less likely. He can figure out the extent to which he might ONLY DCA and/or if he might employ buying on dips versus lump sum buying, including when it might be advantageous or disadvantageous to employ each of them. He can consider the extent to which he might employ more aggressive BTC accumulation or if he might employ a more whimpy approach, and also consider what his accumulation goals might be or how to valuate his bitcoin holdings in terms of figuring out the extent to which he might consider that he is graduating out of pure accumulation and into maintenance and/or perhaps exercising various forms of sustainable withdrawal.

Quote from: BitBakerr1 on Today at 08:16:53 AM

It is clear sir that getting involved in Bitcoin and continuing in it will give you all the skill one needs in his Bitcoin investment journey and make things easier.

To me, it seems easier and more meaningful to attempt to learn while being actively involved rather than merely theorizing, so anyone who actually attempts to use his own data and circumstances should become more inclined to want to learn and to improve in his own cashflow management and investing systems. Even accounting for all of his 9 personal factors can take a while to figure out and then to tweak his own framing of the matter, his perspective and/or his practices from time to time.

Quote from: BitBakerr1 on Today at 08:16:53 AM

Sometimes I see people talk about knowing everything about Bitcoin investment before starting which to me those not sound right because when it comes to bitcoin investment you will only know more when you get involved, is when you get involved you will discover what works for you because that person telling you about Bitcoin investment his ways and strategy may not even work for you I think what a newbie should have is just the basic knowledge about Bitcoin and then he or she can start no need trying to know everything.

Yep. Getting started is one of the most important things, even if it might ONLY be $10 per week, yet putting various buying systems in place and attempting to manage those buying system, including making sure that you are staying in budget, can be very important tools (pieces of knowledge) that contribute towards being able to increase levels of aggressiveness in the accumulation of bitcoin. Experienced investors might come to bitcoin and have a lot of the cashflow management and investment management skills, yet they still might need to tailor some aspects of their skills to bitcoin, yet they may well have a headstart over some other person who comes to bitcoin and is completely new to investing.

For the very brand new investor, it may well be better to start out more slowly and more conservatively with their bitcoin investment, but the mere fact that they are starting out slow should not stop them from taking various actions, and surely there are likely folks who have to make time and space for their bitcoin investing since they might have a full life of activities including a job, a family, various social activities, and they may have to carve out some space for their bitcoin learning and putting their bitcoin investment (and cashflow management skills) into practice.

Like you suggested, a person who has more practical skills in bitcoin investing and cashflow management is likely going to be in a better position to talk about those skills in meaningful ways based on his having had been practicing them, rather than merely theorizing about having had done it.

Surely in a forum like this there are going to be guys with all kinds of levels of experience, and some of them will be able to describe their experiences better and others may raise questions about what other members might be saying, so even if part of the process here would be to share information, sometimes we will realize that some members might be talking about something as if they have experience when they do not, and they might not always realize the extent to which their lack of experience is giving them the wrong kinds of thinking on the topic.