Having the basic knowledge about Bitcoin is what we need to kick start investing in Bitcoin, while learning other things with passage of time. If you consider learning all about Bitcoin before you start investing you will end up not investing and it will cost you spending lot of time you could have use to buy Bitcoin because the knowledge about is so vast that even an older investor doesn't know it all, it is best you get the fucking started with the basic knowledge while learning other things along the line, Bitcoin is still a growing asset, there are alot to learn getting in to the field when you starting investing.
Exactly it is mostly best to start with just basic ideas especially with Bitcoin. If we try to learn everything before we invest we might never start and we could miss out many chances. Bitcoin and how it works are always changing so even people who have invested for long time are still learning new things. We should learn main things first and then learn more as we go. It is like learning to swim we do not need to know all science of water to get in and start swimming. You are also right that Bitcoin is still becoming more popular and there is much to learn as we start investing. It is like learning adventure.
1. Atleast a job
2. Money used for investment should be your discretionary income
3. Have a back up emergency funds 4. A strong principle of continuing what you started
Emergency funds and other back up funds like reserve funds and float shouldn't be set up before starting your bitcoin investment because there is no investment to back up since your emergency funds is a back up to your bitcoin investment so that you don't sell before time when you're hit with real emergency. If a new beginner don't have an emergency funds and his discretionary income is available, he can start his bitcoin investment immediately, and share his discretionary income into two parts. Whereby, he use one part to continuously buy bitcoin weekly and the other part to build his emergency funds simultaneously with his bitcoin investment.
It will take many investors up to a year or more to set up an emergency funds that is up to three months of their income since you are building it from your discretionary income. This is the reason why you don't wait when you should start buying bitcoin right away because you're already missed out a lot of opportunities in the market earlier. Time and bitcoin price does not wait for anyone. Delay is dangerous.
I think you are getting me wrong because your emergency funds am trying to relate doesn't mean the investor should have it set up before starting his Bitcoin investment portfolio, the investor can always set it aside along when he is buying steadily so that when he or she is faced with issue that would warrant a must attention from him rather than him touching his investment money he can just solve the issue with the cash he has kept for such emergency cases.
I'm this case Jaycoinz, I think you're the person getting yourself wrong. The grammar you used were crystal clear
I don't know why people feel they should know everything about Bitcoin before they start their investment journey, no doubt that it's good to know about what you are getting involved in but with Bitcoin the knowledge you need isn't some kind of complex knowledge as you can just know the basics and then have all the basics set up available like
1. Atleast a job
2. Money used for investment should be your discretionary income
3. Have a back up emergency funds
4. A strong principle of continuing what you started
You clearly itemized having an backup emergency funds as a basics of investing into Bitcoin which is wrong since it can be built alongside your buying Bitcoin periodically. Setting it up would definitely delay your starting to purchase Bitcoin. So instead of waiting to get it as a basics which is wrong, it can be removed from the list and promoted to requirement while you're already accumulating Bitcoin so as not to tamper your portfolio when such needs arises.
We're all learning, so it's better you learn that arguing and contradicting yourself in the process.