Quote from: kanftka on June 12, 2025, 03:47:12 PM

Quote from: Futurexxx on June 12, 2025, 10:39:09 AM

Quote from: ultrloa on June 12, 2025, 10:18:36 AM

Quote from: laijsica on June 12, 2025, 12:13:12 AM

You can start Bitcoin from scratch even with a small deposit. There are some investors who have no income but have a significant amount of assets to invest. How do they invest in Bitcoin or if they really know very little about Bitcoin, how should they start? For such people Bitcoin investment is an opportunity such as those who have inherited wealth they want to use their wealth wisely and become more knowledgeable about their investments. Maybe they are still studying and learning about Bitcoin and have not yet started earning.

But talking about no income I guess that condition will not take them far especially that they don't have any means to buy Bitcoin especially that there's new funds comes to them.

Anyone that has no source of income has no business investing in Bitcoin, what he or she should be doing is looking for a job so that he or she can take care of his basic needs, after that he can evaluate his situation if their is any discretionary income left to start investing with, because for the said fellow to buy and accumulate Bitcoin consistently, he must have an income coming in either weekly or monthly, because if you don't have an income and you invest with the little you have for the time being, it will be just a matter of time before he falls back to his holdings for survival.

You made a very solid point, especially about putting basic needs first and having a steady income before thinking of investing in something like Bitcoin. The truth is, trying to invest without a stable income is risky, and it messes with mindset too. When you don’t have money coming in regularly, any little shake in the market can make you panic because now your survival depends on those investments. That’s a tough and stressful position to be in.

At the end of the day, investing should come from a place of stability, not desperation. It's better to build a foundation first, then grow from there.

There have been several us who many times said that there is no need for a steady job (income) before getting started investing in bitcoin, and the bare requirement is to have discretionary income (or discretionary money) available.

There is no need to create higher requirements, since as long as newbies have determined that they have discretionary funds, then they can get started investing into bitcoin.

Sure, if they don't have some kind of steady job, then they may well need to work on that in order to keep their bitcoin investing going, but they do not need to have a steady job or even to have their finances in great order when the first start buying bitcoin.

Many folks likely realize that the better our income and/or the better our cashflow management systems, then surely we are going to be in a stronger position to both invest into bitcoin and to maintain the investment in bitcoin, yet at the same time, there is no reason for guys to keep proclaiming that those things are required in order to get started investing into bitcoin.

Quote from: laspol65 on June 12, 2025, 04:32:12 PM

Quote from: Futurexxx on June 12, 2025, 10:39:09 AM

Anyone that has no source of income has no business investing in Bitcoin, what he or she should be doing is looking for a job so that he or she can take care of his basic needs, after that he can evaluate his situation if their is any discretionary income left to start investing with, because for the said fellow to buy and accumulate Bitcoin consistently,

It is correct that Bitcoin is not an investment for those who have no income, but those who do not have income are certainly children and children can never invest in Bitcoin.
However, for children, their parents can keep holding Bitcoin to ensure the child's future. In this case, the child can create opportunities for income later, and if he finds a way to earn income, he can later invest the Bitcoin given by his parents.

Why are you describing and/or creating requirements for children? And what are we describing as a child? Ages 5 years old to 17 years old? or do we have some other ages in mind? Surely, if a child, even if young, is able to get some money, s/he can buy bitcoin and even invest in bitcoin. How can you stop them? The main thing is that they have to find someone with whom to transact, whether in person or online, so even if some kids are immature and they might not even know how to manage money, they still may well be able to buy bitcoin with whatever discretionary income they are able to garner up.

Sure, some kids will sometimes think that they know more than they do, and then they will end up screwing up with their investment into bitcoin, yet there are likely a decent number of kids who can figure it out and also figure out how to make sure that they do not lose whatever bitcoin (or satoshis) that they are able to accumulate. Sometimes they will be able to get assistance from some adults (or their parents or other relatives), yet sometimes they can also figure out the difference between good sources of information and not so good sources of information to try to protect themselves from being scammed.

Many of us likely realize that there are a lot of kids who think that they know more than they do, and then they end up getting themselves in trouble, screwing up and/or losing money because they sometimes do not know what they don't know, but then in the process of making mistakes, some of them will learn lessons and even some kids will realize that they don't know certain things, but they want to learn, so they will purposefully start out with smaller amounts in order to get used to the process and practice with smaller amounts before adding larger amounts.

There likely are some kids who receive allowances that are larger than working folks in other countries, and they might not even have a lot of expenses, so they may well end up with quite a bit of discretionary income, and so maybe some parents might start their kids out with a budget of $10 per week when they are 8 or 9 years old, and then by the time they are 12, they might have a budget that is $20 to $30 per week and by the time they are 15 or 16, they might have a budget that is $100 or more per week.. and parents might even give them quite a bit of latitude and minimal oversight with their budget.. and sure, there can be quite a bit of variation, yet I would be careful to describe kids as if they are not capable, even though surely some kids are more mature and even capable of learning than others.

I will admit that when I was a kid, there were certain ways in which I was quite immature, yet at the time, I had not really necessarily realized it, and some of my various ways of being immature caused me some issues, yet there wee some ways in which I figured out some of the areas in which I was having issues, and surely kids are gong to have variation in their social and/or financial resources and even their abilities to communicate and learn from adults or at least from some of their peers who might have other perspectives that are more insightful than their own perspectives.

I remember when I was 21 years old or so, and I had made a friend at work, and we went on a trip together, and this friend told me that he was getting irritated with me because I wanted to analyze every little thing, and surely I was going through a kind of phase in my life, and in some sense we were having differences in our social interaction expectations, yet his comment contributed to my thinking about myself differently based on his having had vocalized one of his observations.

I had a similar thing happen when I was in the 7th grade (perhaps I was around 11 or 12 years old, and one of my teachers made a comment about my personality, and I continued to remember that comment and to be influenced by that in order to think of myself in the framework that he had characterized. Of course, back when I was 11 or 12 years old, we did not have internet in public ways and so the ways of learning were different, and so some of the kids these days (even when 10, 11 or 12 years old), they will sometimes be able to learn things that kids from earlier times would not have had access to similar kinds of good and bad information... Sometimes kids learn stupid-ass shit, and they think that they are learning things that are helpful, and so sometimes they have trouble sorting the good information from the bad information (a kind of critical thinking skills development that takes time to hone critical thinking skills without getting duped into dumb (and wrong) shit).

Quote from: Popkon6 on June 12, 2025, 04:55:17 PM

Quote from: avp2306 on June 12, 2025, 02:06:38 PM

Quote from: Futurexxx on June 12, 2025, 10:39:09 AM

Anyone that has no source of income has no business investing in Bitcoin, what he or she should be doing is looking for a job so that he or she can take care of his basic needs, after that he can evaluate his situation if their is any discretionary income left to start investing with, because for the said fellow to buy and accumulate Bitcoin consistently, he must have an income coming in either weekly or monthly, because if you don't have an income and you invest with the little you have for the time being, it will be just a matter of time before he falls back to his holdings for survival.

It puzzled me on where does people would get funds to buy Bitcoin if they don't have source of income?

So I guess you are right they need to seek for a job so that they can sustain their investment. Having a discretionary income is important since they could do those things that they want especially if they want to deal with Bitcoin for long term.

We should not engage on survival of the fittest on investing and better we should aim for sustainability for our Bitcoin investment.

To survive successfully in life, one must work hard, hard work is never in vain. To participate in Bitcoin investment, one must have a good source of income, from which some extra money will survive even after running the family's expenses, through which he can participate in Bitcoin investment. In this case, a person must work by following the rules and regulations properly, but if that person has more bad habits, they must abandon them and participate by controlling money from all sides.
However, having a plan is the most important thing in life, it is never possible to reach the destination without a plan, the more detailed the plan, the more that person will be able to create opportunities for a better future. To be financially independent in the future, Bitcoin investment is the most important, where that person can participate in investment according to the DCA method.

Newbies do not need a source income or even to be organized or have a good plan or know what they are doing in order to get started investing in bitcoin.

They can learn a lot of the things (if not most of the things) that you mentioned as they go, and surely the more organized they get and the better they get at managing their cashflow and their various back up funds, then the more likely they are going to be more and more successful in their bitcoin investment, but they don't need any of that to get started.

To get started, all they need is some discretionary income..and yeah, if they mistakenly think that they have discretionary income and they do not, then that could end up costing them money, but they can also learn from their mistakes, too and make adjustments and even to perhaps be careful about their position size when they are first starting out, since no one really likes to lose money, even gamblers prefer not to lose money, even though many of us might characterize gamblers as more sloppy and reckless, and for that reason many of us like to consider our own approach to bitcoin to be investing rather than either trading and/or gambling... so we consider that we are coming to bitcoin for 4-10 years or more and perhaps in the first cycle we weill learn a lot and one of the first things that we should be striving to learn is to make sure we understand how to manage whatever cash we have within our discretionary income so that we are investing from discretionary income money rather than money we might later need at some point down the road.

Quote from: Gost ms on June 12, 2025, 05:10:10 PM

Quote from: Proty on June 11, 2025, 11:38:07 PM

Quote from: Brainnybtc on June 11, 2025, 11:14:33 AM

Quote from: GIF-JOBS on June 11, 2025, 09:10:29 AM

Bitcoin investment never requires deep knowledge about Bitcoin, but it is definitely necessary to acquire general knowledge about Bitcoin, if you want to hold Bitcoin for the long term, then you definitely need to acquire that amount of knowledge, so that you never panic during times of volatility. Knowledge is definitely necessary about Bitcoin, it is never possible to achieve anything good with zero knowledge, in the same way, Bitcoin investment does not require deep knowledge, but general knowledge is definitely required, so that you do not panic during times of volatility and make wrong decisions, and your holding is saved from loss.

In my own understanding, once you have the basic knowledge about Bitcoin and how to accumulation it either through the dca accumulating strategy or lumps sum strategy then you are good to go, along the line you can start seeking deeper knowledge on it so as to know all it entails to be successful as a Bitcoin investor, you don't have to know it all to start, just start once you have the basic knowledge about it.

The most important things you need before you can start accumulating bitcoin is your discretionary income, having the basics knowledge without you sorting out your discretionary income is not enough., you must be able to know if you have a discretionary income or not After sorting out your discretion ,then you can start accumulating bitcoin using your discretionary income.As per having a basic knowledge, you can be accumulating bitcoin and as the same learning more about it.so the major thing is if you have a discretionary income since it is not advisable for you to invest money for your expenses into bitcoin or money that you will needing within a short interval of time.

I think it is very important for a person to have basic knowledge about investment and knowledge about Bitcoin first. Because if a person does not have proper knowledge about investment then he will never understand how much money he should invest. If he does not know all these aspects then he can put his investment in jeopardy by investing in the future. For example he has discretionary income but he does not have proper knowledge about investment he does not know what is the use of emergency fund or why emergency fund is needed etc.

To get started, the newbie bitcoin investor does not need to know all the stuff that you are mentioning, and sure as he goes, it is likely that he will learn more and more and more, but the ONLY thing that he needs to know to get started is whether or not he has discretionary income and sure maybe it is better if he has some self-discipline and/or aversion to losing money, yet he can develop those kinds of skills maybe by starting out slow and learning as he goes... within whatever budget he might make for himself that is hopefully within his discretionary income or his discretionary funds.

Quote from: Gost ms on June 12, 2025, 05:10:10 PM

If a person has proper knowledge about investment and has faith in Bitcoin then he will not be too scared of the market fall and if he does not have a stable source of income then he will find a stable source of income before starting investment and after that he will think about investing. And a person who does not have proper knowledge even if he has a stable income can face losses.

Maybe it could take a guy 4 years or more to build knowledge, comfort and faith in bitcoin, so what the fuck is he supposed to do? just sit around for 4 years to develop his faith in bitcoin? pray about bitcoin? wait for some kind of a message to come from the ether? (the bitcoin ether, not that shitcoin called ether).

That makes little sense.

The thing that makes most sense is to get the fuck started... and learn as you go...hopefully pay attention and work on cashflow management, but at the same time, these skills are not needed to get started and to get started all that is needed is to determine that you have discretionary funds, whether that is $10 per week or $100 per week or some other amount that is determined to be reasonable, and then if guys are investing into bitcoin they are likely going to be more motivated to learn rather than guys who are waiting to be inspired by "faith in bitcoin," which might take quite a bit of time to figure out the faith in bitcoin part.

Quote from: Sonia_123 on June 12, 2025, 07:40:58 PM

Quote from: Bitcoin.com97 on June 11, 2025, 09:35:16 PM

[edited out]

As a newbie, you don't need to go in dept of Bitcoin understanding before investing, just only the basics needed, Jjg has made it clear in one of his lecture that
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

you probably should have had put proper quotes for the part that I bolded, but yeah that does seem to be something that I said... and I think you quoted my words exactly, but you did not put proper quotes to show that those were my words, so it could be confusing about whether those are your words or my words.. .which you (and any other member) could get into trouble from the forum if you are not making sure that you give proper attributes when you copy and paste text of another member... so you need to be careful to make sure we can tell the difference between your own words and something that you quote whether from me or another member or if you take it from some place on the web.

Quote from: Cryptoprincess101 on June 12, 2025, 08:40:41 PM

Quote from: Sonia_123 on June 12, 2025, 07:40:58 PM

[edited out]

You people are confusing what it means by basic knowledge and primary knowledge because it's same thing, having primary knowledges means the basics which are the little things to know before starting to invest in bitcoin which is not wrong. You can't just say you want to invest when you don't even know about wallet addresses and how to buy bitcoin because those are the primary things to know before going into Indepth knowledge such as how to secure your seed phrases and how to apply the various methods of investing in bitcoin and some other stuffs as well. All these further explanations and analysis you made can come later after the basic knowledge have been acquired and investment has already been started.

Are you saying that newbies need to know how to buy bitcoin on an exchange and how to transfer to a private wallet before getting started.

Personally, I think that is way too much. Sure there is going to be some need for newbies to figure out from where they are sourcing their initial coins, whether from an exchange or maybe they meet someone in order to buy bitcoin in person... so there are some basic skills that would be required for either of those situations, but the most basic knowledge is figuring out whether or not they have some discretionary income available, whether that is $10, $100 or some other amount.. and then yeah, they will have to figure out how to buy it.. and if they are really worried that they might lose it, then maybe they start out with $10 to test it out, even if they might have $100 that they could buy right away, but purposefully they start out with $10 and then they learn as they go, which it could even take them 3- 6months before they decide that they need a private wallet.. .whether they had made more BTC purchases during that intervening time period or not.

Quote from: I_Anime on June 12, 2025, 10:07:55 PM

Quote from: Zackz5000 on June 12, 2025, 08:57:32 PM

It is important you sort out your basic needs before getting started which simply means you are investing with your discretionary income, no investment is risk free including bitcoin investment so it doesn't matter if you have a stable income or not but not having a stable source of income shouldn't even stop you from not getting started with your bitcoin investment what is important is having your discretionary income available then you are good to get started along the process you can also be making plans on how to increase your income flow instead of waiting to have a stable income before you can start accumulating Bitcoin.
Using the DCA strategy one can start accumulating Bitcoin gradually either weekly or monthly and hodl for 4-10 and more.

At first what is discretionary income , Discretionary income is the amount of money a person has left over after paying for essential expenses ( taken care of basic needs ) . So one using discretionary income shows that one has already taken care of expenses already , then using the remaining free funds he had left to accumulate.

But is not a fixed thing that you must invest with discretionary income only, let me give a simple explanation for instance your salary’s usually coverup most expenses then you end up making an extra funds or being gifted a certain amount of money they you will have some few expenses but you believe that your salary will handle it you can go all in with that funds ( because low key is like a discretionary _{funds like a free funds} ) saving the expenses for your salary .

When a person has a second job (or second source of income) or even if he wins the lottery, that extra income would all be considered discretionary income, except maybe any extra expenses that the extra income might cause... so for example, an extra income causes a need to drive 20 miles each direction and to buy a green shirt with a white collar.. The transportation costs and the clothing costs may well be considered expenses that need to be deducted from the income, and/or let's say that usually, the guy would be able to eat between $5 and $10 for his meal, but since he is going to another location, he tends to have to pay for an extra meal that cost $20 to $30, so the extra food costs would be extra expenses subtracted from the extra income...and maybe the remaining income would be added to discretionary income.

Or in the lottery example, maybe he has to take two days off of work in order to go to the place to collect the lottery money, so he subtracts his various expenses related to collecting the lottery money including transportation, food, missed wages and maybe even lodging.

Quote from: I_Anime on June 12, 2025, 10:07:55 PM

Most folks will be wondering what if I don’t have any discretionary funds to spare , you can actually reduce some expenditure creating a chance for some discretionary income, but if you see that you weren’t able to balance then I will advice you slow down on your bitcoin investment first, so that you won’t go over board using money that you will need within a short period of them leading to you messing up or tampering with your investment _{long term investment is the best so focus on funds you can actually stay without using for long}

Of course, no one should invest with non-discretionary income since that would be gambling rather than investing, and yeah, discretionary income can be increased by increasing income and/or decreasing expenses.