Quote from: Tmoonz on June 10, 2025, 05:19:25 PM

Quote from: Justbillywitt on June 10, 2025, 11:58:07 AM

Quote from: Ivystar5 on June 09, 2025, 07:05:48 PM

Quote from: Brainnybtc on June 09, 2025, 06:26:54 PM

You are very right sir, saying that Bitcoin is risk free is very much misleading because we live in a world full of uncertainty, anything can happen in the future that may be out of our control, so it's not proper to be saying that Bitcoin is totally risk free, because being alive is also risky if he doesn't know.

The major risk I can agree with when it comes to bitcoin it's the fact that scam or hacked attacks are so advanced as much as the protective tools in bitcoin but then we have a big and unbroken solution which is storing your assets offline in an airgapped devices and cold wallet, this is quite a big way to say that bitcoin is now less risky once you have this offline wallet well managed for your bitcoin safety.

No scams and hacks are not the major risks that one should look at when it comes to bitcoin, because when you are careful enough and know your way around bitcoin you can never fall for scams and possibly hacks. When talking about risks, we are looking at something that can affect everybody that has invested in bitcoin. We are looking at the wider picture here, something that when it happens everyone is affected irrespective of how careful you are or not. And that is the risk of bitcoin price going down to zero. This is the biggest risk that's associated with bitcoin. Even though I don't see the possibility of that happening, but we can't neglect the fact that such risk still exists in bitcoin. This is the major risk that all investors should be more concerned about.

This really got my attention, you don't have to say never because anything of such can happen hence i would love to say that we all need to look at this in a real terms, it is most realistic for anyone to accept the fact that no matter how careful you are that doesn't make you have an immunity towards being scammed being careful as you said which everyone should know will only reduces the exposures and the risk of being scammed but if you say never that sounds so unrealistic to me, we can only do our best and wish the bad day never comes.

Of course, we have to consider risk from the perspective of both known unknowns and unknown unknowns, and we might not even realize the category until after some kind of an unexpected event happens, and then the unknown becomes known, and we might even say to ourselves that "I should have had known better," or it surely could have had been the case that the unknown could not have had been known, except if we are so humble as to recognize/appreciate that we don't know everything, then we recognize and appreciate that some set of events could end up happening that we do not know in advance, even though we had speculated that we had accounted for all of the various possibilities.

So, it may well be like you said Tmoonz, we hope that the bad day does not ever come, yet we are not so lackadaisical in our own preparations to say "anything can happen," since truly the mere fact that we don't know everything does not thereby cause "anything can happen" to become true and/or a good way to approach bitcoin investing and/or cashflow management. There are likely various scenarios in which some things are more likely than other things, and we do our best within our own knowledge to prepare for more likely scenarios rather than just becoming sloppy, proclaiming anything can happen, and then not preparing ourselves for the more likely scenarios while still making sure that we are prepared for extreme unexpected scenarios too.

Quote from: Justbillywitt on June 10, 2025, 07:48:42 PM

Quote from: Tmoonz on June 10, 2025, 05:19:25 PM

[edited out]

What make you think it's unrealistic? If you have been in this space for a long time, you can easily identify scams once you see it without anyone telling you that this is a potential scam. There are those that can confidently tell you that they can never be scammed as far as bitcoin is concerned and I am telling you that I can never be scammed. Unless you are among those that are still chasing after shitcoins and memes which I don't, but if you do then you have positioned yourself be scammed, no matter how careful you might be.

Don't ever give your bitcoin to third parties to manage for you, manage your bitcoin yourself. Never connect your wallet to any website or app, don't expose your private key to a third parties. Always verify address that you are sending your bitcoin to before initiating transaction. Do these things and see scam stay far from you.

You might be correct Justbillywitt that you can never be scammed - yet you have a scary mindset to be considering yourself so invincible. There are a lot of things that can end up going wrong in life, and to me, it seems prudent for many of us to approach life with skepticism, optimism and humility , and we need the humility to recognize and appreciate that there are always risks, even when we attempt to address all matters... including our own possible vulnerabilities to aging, injuries (accidents) and/or disease that may even be somewhat beyond our sufficiently having had prepared ourselves... including our getting hit by an asteroid or some other calamities that changes variables, and even though we thought that we had "fool proof" systems, our memory does not even work properly... and we are relying on others who also have their own various defects that our somewhat outside of our control and/or knowledge.

Quote from: adultcrypto on Today at 12:00:02 AM

Quote from: Miles2006 on June 10, 2025, 09:14:50 PM

The last paragraph is kind of complicated well I guess you meant investing first before learning about bitcoin. Bitcoin basic knowledge is not broad secondly we all need to understand what bitcoin is all about first before investing and it doesn’t take much time “ Less than a week” for a newbie rather all what they need to know is the right investment strategy that suits their income afterwards they start investing. An investor doesn’t need so much knowledge expect they’re into other fields like tech etc and that means investors should only focus on investing knowledge which includes backup funds, dca etc, learning alongside investing is right definitely somethings might sound strange to a newbie that’s why they need a learning place like the forum, lastly there’s no risk free investment.

You obviously missed an important part of the statement about the knowledge requirements for a beginner and that is in the aspect of knowing how to store the bitcoin safely. Choosing the right wallet and knowing how to protect the private keys constitute the basic knowledge that every bitcoin investor needs right from the beginning given how important it is to protect the bitcoin from theft and other forms of losses. Beginner investors have to also learn about self custody of their bitcoin because that is the only way they actually own those bitcoin.

I doubt that there is a need to learn about self-custody before getting started investing into bitcoin. One of the most important things to know before investing into bitcoin is whether or not you have a discretionary income or not. If you have a discretionary income, then you can get started, and learn various aspects as you go, including self-custody. Surely, the more you invest into bitcoin the more you likely need to know in advance, yet you can still get started and study in order to figure out if you are putting in $10 per week or $100 per week, or $1k per week or even if you might want to start with lump summing with $10k or more. The more you put in the more that you likely need to know, yet at the same time, different people earn differing amounts, so if a guy is earning $100k or more a year, then he likely has more options than a guy who is earning $6k or less per year.

Quote from: Merit.s on Today at 04:34:36 PM

Quote from: Proty on June 10, 2025, 10:41:37 PM

Quote from: Merit.s on June 10, 2025, 10:48:54 AM

[Edited out]
Emergency funds, reserve funds and float are all back up funds. This is because emergency funds is the backup to your bitcoin investment and should be tampered with last after you have spent your float and reserve funds incase you lose your job. Reserve funds acts as a back up funds to your emergency funds and that's why you don't touch your emergency funds until a real life emergency plays out. Float is the backup to your reserve funds.

It is obvious you can't really differentiate between this three terms and the purpose which they are meant for.It is misleading for you to say that reserve funds is the backup funds for emergency funds and this purely means that you don't know what reserve funds and floats point are.I would shed a little light on the purpose of the terms.
Emergency funds is only meant for one purpose, which is purely for emergency since live is full of uncertainty.The next one is reserve funds, reserve funds is not meant to act as a backup to emergency funds but rather the purpose of reserve funds are funds for specific expenses which is being kept aside and to be used for a particular purpose.
Lastly,the float funds doesn't act as a backup funds for reserve funds,the float is the money that is held temporarily in our account before it is being used up.

I know that you don't get my explanation. Float is funds that everyone have which we use to take care of whatever pops up during the day or the week aside from our basic needs which has been sorted out from our income. You have to spend this funds first before, you can think of using your reserve funds to take care of whatever you need like going to an expensive restaurant for dinner, buying bitcoin at the dip and so on.

If you are in a ill state whereby, you can't work to generate income, if you have your float, reserve and emergency funds, you need to spend your float first, followed by your reserve funds before you deep hands into your emergency funds. This was the reason why I said that they're all back up funds for the other while emergency funds is to backup your bitcoin investment.

You are not necessarily wrong about float funds Merit.s - even though I tend to think about float as being locked up money that is waiting for expenses to be figured out, yet sure, if you have a certain amount of discretionary income each month that is above your expenses, then maybe you might or might not invest into bitcoin right away, or you might just hold float in terms of trying to figure out how to spend your monthly income. You could also prioritize investing and/or putting into your reserve or emergency funds.. so in that sense, sure you could be correct Merit.s to say that you spend float first, but then I am not sure if you are distinguishing float from discretionary income, and maybe you are just saying that float is similar to discretionary income? I would rather think of float as money that has not been resolved, and if it ends up that expenses are smaller than the float money being held, then whatever is remaining would convert into discretionary income, so it would not be float anymore, it would just be discretionary income which you can use for whatever reason to consume, invest or to put into your back up funds.

So, yeah, it would also not make sense to spend from back up funds prior to spending from discretionary income... and you would only spend from back up funds once you run out of discretionary income, and then you would spend from reserves first and emergency funds second, and as everyone seems to recognize that you would not want to spend from your emergency funds for non emergency matters, since if the only money that you have left is emergency funds, then you likely are doing something wrong if you still want to spend them for non-emergency purposes.. buying more bitcoin on the dip or whatever, does not seem like an emergency, at least from my perspective... but guys can differ in their perspective in regards to how to use funds and how much risk they are creating if they are overly depleting various back up funds.. and they might not even realize the level of the mistake(s) that they made until they are too far into mistake territory and they are not able to reverse matters to get money back that they already spent or invested into bitcoin.

Quote from: Gost ms on Today at 05:39:37 PM

Quote from: Ricardo11 on Today at 05:06:56 PM

Those who are genuinely interested in Bitcoin will never be afraid of Bitcoin volatility. If you study Bitcoin's past movements well, you can understand very well how possible Bitcoin is in the long term. For Bitcoin investment, you must first improve your financial situation as much as possible, because Bitcoin is a long-term investment journey. If you want to get something good, you must have a long-term plan. Bitcoin cannot make you rich overnight. If you think of getting rich quickly through Bitcoin investment, it can give you negative results instead of positive results. So, you must maintain the right mindset, learn to adapt to the fluctuations of the market, and have the mentality of buying more by taking advantage of the volatility, only then will a good portfolio be created.

If we are not talking about the old investors, it is very natural for new investors to be afraid at first. Even if they have faith in Bitcoin and proper knowledge about Bitcoin, it is very natural for them to be afraid. Because they do not have this experience, as time goes by they will gain experience over time and learn how to be free from worries and overcome fear over time. Even those who have proper knowledge about Bitcoin and faith in Bitcoin, even those who are afraid, should invest in small amounts at first so that they are less likely to be emotional about their investment. It is very difficult for a new person to determine how to maintain his psychological balance.

You are correct that newbie investors are likely to become scared more easily as they are getting accustomed to accumulating bitcoin and holding bitcoin, and so it takes time to get comfortable investing in bitcoin and also for people to figure out their own balances, including their own emotions and how to deal with their bitcoin holdings. .which likely at first would be building of their position, and if they have a 4-10 year or longer investment timeline, then they may also recognize that they may well be building their investment for 4-6 years or more depending on how aggressive that they are able to be, and how much they are able to frontload and/or lump sum invest.

Quote from: Gost ms on Today at 05:39:37 PM

Of course, past performance does not determine future results, but evidence supports that Bitcoin is a very good long-term investment. The market can go up and down at any time. I think a downturn is a very good time for an investor. Because during a downturn, one should buy as aggressively as possible. If one does not have the ability to buy aggressively, then one should continue to buy consistently without fear.

Many of us recommend against changing level of aggressiveness based on dips; however, if a person strengthens his cashflow management, then it is likely that he is in a position to strengthen his aggressiveness too.. which surely could include some plan that holds back some money for buying BTC on dips rather than just ongoingly buying regularly and not concerning oneself with dips for the first whole cycle or two.

There surely can be some differing opinions in regards to how to manage aggressiveness so that we stay within bounds of aggressiveness and without overdoing it or even saying that we are being aggressive, yet really we are being whimpy since we are holding back too much value for dips that might not end up happening. There are guys who like to proclaim that they are being smart because they are holding back value for dips, yet it may well end up playing out that they are being overly whimpy with such strategy that may well result with their having less bitcoin than what they would have had otherwise had if they had persistently, consistently, regularly, ongoingly and even aggressively bought bitcoin.

Quote from: Dunamisx on Today at 08:01:23 PM

Quote from: JayJuanGee on Today at 06:50:10 PM

Each of us should be setting systems in place so that we can handle the ups and the downs, and surely if we are in our earliest accumulation phases we would likely be served well if we are ongoingly buying during our first 4 years or more no matter the BTC price

That's true, am been able to pick up two lesson form what you just spoke from here, that a system should be in place so that we can handles the challenges of investments and also be able to manage how we can safely run the type that will suit the best approach we are using as strategy for maximum productivity, secondly, the time factor, which talk about how we could invest and allow for some years to mature, which can grant us the very ability to selling after holding for a long time, selling at any rate by then will not e in loss, this best fits for those into their initial accumulation stage, because they have a long way to go holding.

Yep. It tends to take a long time to build up a BTC investment portfolio, unless we are able to front load our investment and/or lump sum into our investment at various points in time. Nonetheless, from time to time, we well may need to measuring our BTC accumulation progress and also potentially make adjustments in regards to how we are investing into bitcoin and/or managing our cashflows, including managing our various back up funds.