Quote from: JayJuanGee on Today at 02:28:00 AM

Quote from: MainIbem on June 19, 2025, 07:00:09 PM

Quote from: JayJuanGee on June 19, 2025, 06:30:57 PM

Quote from: Wind_FURY on June 19, 2025, 02:01:34 PM

Edited out

...and so I will also agree with you (to the extent that you are making such point) that guys are short-sighted who consider that they would be able to buy bitcoin and then cash out of some or all of their bitcoin as bitcoin goes up in price in order to support their expenses... These are not good ways of thinking about bitcoin, even though quite a few newbies come to bitcoin with that kind of problematic (and even gambling/trading mindset) kind of thinking.

Exactly Jay, uhmm I think we've talked about this in the past can't figure out whether it's in this thread or another one but anyway Wind_FURY is right, to be called an investor, I mean a Bitcoin investor one must have something doing that would fuel their accumulation journey and keep it going for years, there's no point trying to act smart and end up making a terrible mistake cause the person would definitely fall back to their portfolio on the long run and that's definitely a trader or gamblers vibe, going into Bitcoin is not for those who wants quick money, it's for the futuristic folks that have patience and backed with a means whereby they can constantly generate funds to keep accumulating for long, it's definitely not for folks without a job cause I don't see how they can comfortably afford investing periodically when they have no source of income.

To get started investing in bitcoin, you need discretionary income not a steady source of income.

If some one buys bitcoin once or twice and then loses his job or runs into other financial problems where he is not able to buy more bitcoin, then he is just stuck with the bitcoin he already bought and he is not able to continue to build.

He had still invested in bitcoin, even if he cannot continue to add to his bitcoin stash.

Sure, it is preferable that he continues to buy bitcoin after the first purchase of bitcoin,. .yet at the time when he bought his first bitcoin he might not have had known the extent to which he was going to continue to have income coming in after the first purchase, yet he would not have had been foreclosed from starting to invest into bitcoin, becuase he met the basic requirement of having discretionary income at the time of his initial bitcoin purchase.

Quote from: Cryptoprincess101 on June 19, 2025, 09:34:02 PM

Quote from: Shadiq on June 19, 2025, 05:39:06 PM

Quote from: MusaPk on June 19, 2025, 04:58:01 PM

It's not very difficult to get basic details of Bitcoin as they are readily available on internet. If one has acquired basic understanding of Bitcoin then their is no harm in getting started with small amount. Because in the start we all do mistakes that results in monetary loss and these mistakes helps us in understanding how to invest in Bitcoin. As a newbie if we get ourselves familiar with DCA then we can save us from initial mistakes and monetary loses. The only thing difficult is getting started and getting on the track, after that it's a smooth sailing.

A beginner should not rely on the internet (social platforms) to gain basic knowledge about Bitcoin. I would rather suggest that instead of using the internet, one should become a trusted person and depend on him to gain basic knowledge about Bitcoin. Because, finding the right source from the internet is not an easy task for a beginner or a newbie. Rather, he will not be able to gain proper knowledge about Bitcoin by collecting or reading information from wrong sources. Because they do not have the verification capability. So I would completely discourage relying on the internet for basic knowledge. Try to find a skilled Bitcoin investor and ask him.

Most people gain their financial knowledge from the internet because it is the best place to interact with different people all over the world, your advice should be that a newbie should not only be convinced by what they learn from a single entity who claim they are knowledgeable enough to teach or give an insight about the basic knowledge needed for their investment in bitcoin. A newbie should sort ideas from different investors then he should be able to access all the points and find out the best knowledge he will apply. We are already in digital era, gone are those days when you will need to meet people facially for them to explain some certain things you want to know about investment. Take a look at the forum, is it not the internet? But we have so many individuals who are well experienced about bitcoin investment here so it's about getting the right knowledge from the internet.

Each and every one of us has the problem to attempt to decipher between good sources of information and bad sources of information and various levels of good and bad in between... That is part of critical thinking to be able to sort through good and bad arguments and to give weight to good and bad arguments, since even certain credible sources can be wrong about certain things or have bad logic on other things.

Also when we are brand new to a topic (such as bitcoin) we might be able to learn from a variety of sources, and sure there is going to be fear that we might learn some bad habits or learn bad information in the beginning, and surely it can be problematic to build upon information (foundations) that are weak, wrong and/or incorrect.

You’re absolutely correct, The most important thing when it comes to investing in Bitcoin is having a discretionary fund, at some stage when I wanted to start investing in Bitcoin, well I had a source of income but didn’t have a discretionary fund after taking care of my expenses and paying my bills I couldn’t have a discretionary funds to invest in Bitcoin, so I find it very difficult to invest in Bitcoin because I had nothing leftovers to invest and keep accumulating. Then I realized that it’s not about having a stable source of income but having a discretionary funds. Now considering that I have invested in Bitcoin that is quite a bold step then when I come across a financial challenges then it’s more positive that I have started then probably I stopped accumulating then it’s more better to not have a portfolio in Bitcoin, because I might still get a resolution to continue investing and accumulating. We all want to continue investing and accumulating to build a successful and sustainable Bitcoin portfolio.