Quote from: Makus on Today at 04:00:51 PM

Quote from: Justbillywitt on Today at 03:36:32 PM

I like how you presented your point, but I think you should have itemized or included those plannings you are advising that potential new investors should subject themselves into before they can invest in bitcoin. It is not just enough to say that they should make proper planning without giving them tips on where or on what they should plan towards, so that when potential new investors are going through this thread and come across this your post, it will be more helpful to them. Well adding to it, I think one major area I think that needs planning the most is the area of financing. Potential investors should make sure that their source of financing is sustainable prior to starting their bitcoin investment journey.

Definitely, investor should consider seeking for a consistent source of income that will cater for their basic need and also have some spear cash left that fraction of it could also be used for bitcoin accumulation using the DCA strategy. As new investors, there is no point starting up your accumulation journey aggressively when you don't have a consistent flow of income, newbies who take this approach are prone to selling off their coins prematurely on loss because of volatility whereas, the major bullish trends can be experienced more when you hold for long period of time. If anyone seeks to make investments in bitcoin, they should work on getting a consistent paying job first, in cases where by they have jobs but the pay isn't sufficient enough to cater for all of their needs and also for investment, then they should also get a side hustle or extra jobs.

It is not a must that the source of income must be regular, some people get money on a periodic state and not the normal regular, monthly or weekly pay we are exposed to. Some people are contractors and their finances follows no definite pattern to arrive, but they do make a good living and have discretionary incomes, so they can leverage on the presence of discretionary income and follow up his accumulation journey in bitcoin, while the person with consistent income source can still follow up with his own discretionary income as soon as it is available.

With accurate cashflow management and a good mentality, anyone can follow up their accumulation journey and have a good stash of bitcoin as long as they have discretionary income present which they would utilize in buying bitcoin and building out backup funds to support their bitcoin portfolio.