Quote from: Joy- maker on July 01, 2025, 09:54:23 PM

Quote from: JayJuanGee on July 01, 2025, 09:13:12 PM

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds. Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

That is part of the dilemma Joy- maker.. since all a guy needs is discretionary funds, but if he makes the mistake of investing beyond his discretionary funds, and he thought that he was using discretionary funds to buy bitcoin, but he was using money that he needed for expenses 2 weeks down the road, then yep. he fucked up.. .. since when the 2 weeks comes and he does not have any money to pay for his expenses, then if the ONLY thing that he has is the bitcoin, then he may well end up having to sell some or all of the bitcoin at a time that was not of his own choosing. . He has to live with the consequences of his mistake, so it is not always a good idea to prematurely conclude that a guy has discretionary funds merely because he has $10 in his pocket... yet at the same time, guys are frequently making these kinds of determinations, so they should be capable of coming to the right balances, and even if they might make mistakes from time to time, they can also learn from their mistakes so that they don't make them in the future or at least they adapt so that they might become less likely to make the same mistakes in the future.

Quote from: Dave1 on July 01, 2025, 10:28:46 PM

Quote from: Joy- maker on July 01, 2025, 09:54:23 PM

Quote from: JayJuanGee on July 01, 2025, 09:13:12 PM

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds. Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Right, we really need to be a educated investor in Bitcoin. There could be school of thoughts here that I know that advises to just invest without any plan. That is a wrong mindset because you don't have any plans. It's like you are going into war with just knives or with no bullets. And if you are really meticulous person, then you will have to lay out your strategy for years so that you won't be sloppy or neglect your Bitcoin investment.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

There is nothing wrong with planning out our bitcoin investment (approach) and planning in detail, yet none of us needs to figure out all of the details of our bitcoin investment plan/approach prior to getting started investing into bitcoin, and whether a guy starts out with $100 per week, or $10 per week or some other amount, he can work out the details of his plan bitcoin investment plan/approach as he goes along, and surely nothing wrong with front loading such plan/approach towards the beginning of the bitcoin investment, yet such plan/approach does not need to be finalized in order to get started with it. .especially since in bitcoin, getting started remains quite important, especially in regards to getting some sense for what bitcoin is and having ongoing interactions with bitcoin to better and better understand it.. . There are aspects of bitcoin that might not be known or knowable in the beginning, yet may well ONLY start to make sense after spending time interacting with it and studying it for 4 years or more and hopefully none of us are spending a lot of time figuring out those kinds of details about bitcoin without actively buying it first.. perhaps there are even needs to buy bitcoin persistently, consistently, regularly, ongoingly and even aggressively without necessarily knowing the specifics of bitcoin beyond having a bit of a road map and an outline. .and as we go and accumulate bitcoin we may well become more and more informed in order to realize our needs for bitcoin investment aggressiveness.

I hardly imagine a no coiner/low coiner really understanding bitcoin very well without getting started and spending time with it... so yeah, the guys who are spending a bunch of time studying and planning their area of attack are likely going to be disadvantaged in regards to bitcoin rather than those who get started right away.

Quote from: EarnOnVictor on Today at 06:07:55 AM

Quote from: JayJuanGee on June 30, 2025, 09:00:37 PM

Yep.. it can be difficult to break bad old habits, especially if you don't consider them to be bad.

I don't see any of my plans as bad, that's a fact. They are strategic and are working for me. What else does anyone want if what he does is working for him? Unless you want to preach perfection, which I am sure is not anywhere.

You are not going to catch me preaching perfection, since bitcoin investment takes a long time to really build up, and so likely there is persistence and ongoing buying that ends up helping a person 4-10 years or longer down the road, and surely the one who had invested $100 per week in bitcoin over 10 years or more will likely be in a better place as compared with a similarly situated person who was capable of investing $100 per week but instead who had ONLY invested $10 per week, yet each of them needs to tailor their approach to their circumstances, and so in that regards, the most perfect approach, to the extent that perfection is even possible, would be the one who had best been able to tailor his bitcoin approach to his personal circumstances.

Quote from: EarnOnVictor on Today at 06:07:55 AM

Quote from: JayJuanGee on June 30, 2025, 09:00:37 PM

Well.. you might not damage your self as much if you would be able to limit your trading account to ONLY around 10% of the size of your bitcoin investment, but yes.. of course, gamblers do not have abilities to impose such strict limits on themselves.. and they think that they are able to profit more by playing BIGGER...

You are now talking, this looks like a plan. I do 10% or more, or less, it depends on the market condition, and I don't enter the market anyhow, unless it has dipped so well. Besides, only a certain account is dedicated to this, while others are dedicated to another scope of investing.

Surely there are some guys who are able to learn and profit from their interaction with bitcoin and perhaps even employing some trading tactics, and surely they likely need to start out small and then potentially work their way up to larger amounts to the extent that they might have had figured out some systems that work for them, and surely, I have been a bit of a preacher of not selling any BTC untl reaching an overaccumulation stage, even though surely I had also toyed around with some ideas of trying to incorporate playing the waves into bitcoin accumulation.. and surely I have reservations about those techniques, so surely guys have to figure out their own balances, including if they might be able to reasonably go beyond the 10% limit that I have suggested as a general starting guidance.

Surely, one of my earlier criticisms of you (and some of your posts) have to do with your seeming suggestion that anyone (and perhaps even everyone) should be employing trading strategies, which truly I do not consider to be the case. From my point of view an overwhelming majority of folks, perhaps in the 80% or more would likely be better off to focus ONLY on BTC accumulation, yet surely there could be some folks who really cannot resist some forms of experimentation and/or even considering that they might be able to better learn about bitcoin by attempting to interact more with it, such as in the context of trying to trade it.. which then surely I suggest that guys do not need to risk much value to learn about trading.. and perhaps even risking 10% is way too much, yet at the same time, it may well be the case that guys are able to figure out ways to get 10% to work for them and not get lured into gravitating more and more value into trading, when bitcoin happens to be amongst the best of investment assets (if not the best?) and otherwise smart people are getting lured into inferior techniques, such as trying to trade one of the best (if not the best?) asset known to man that is currently available for anyone and everyone so long as they have discretionary income.

Anyhow, I think that I had belabored the point enough, especially in regards to how difficult it can be to focus on bitcoin accumulation, and how it might not be making very much sense to be accumulating through buying out of one hand, and then fuck around with selling while still in the process of building up the stash.. and so in some sense if both buying and selling is going on then that hardly makes any sense for accumulating bitcoin and then frequently sellers will get into a posture of waiting for dips rather than ongoingly buying, so they might not even really realize how much they prejudiced their own bitcoin portfolio by failing/refusing to be aggressive enough in their ongoing bitcoin accumulation.

Quote from: Gallar on Today at 08:13:55 AM

Quote from: Princess Leah on July 01, 2025, 03:12:31 PM

Quote from: Gallar on July 01, 2025, 01:04:55 PM

[edited out]

...... I think the conclusion is like that, poor people can definitely invest in bitcoin, but they have to go through several stages of their financial development, only then can they start investing.

The main thing is that they have to make sure that they have discretionary income and that they are not spending past their discretionary income, which frequently can be easier said than done.. since poor people will frequently have challenges, and if they end up overdoing their investment into bitcoin or screwing up in some other way, then they might not have any resources to fall back upon, and because of their desperation, they may well end up inadvertently spending beyond their discretionary funds and then screwing up and taking away years and years and years of their progress merely because they failed/refused to take adequate preventative steps or maybe they got greedy.. and then found that they are not able to recover from the greedy mistake that they ended up making.

If you fuck up as a poor person. .there may well be no one to rescue you, and no one gives any shits if you end up on the street or you end up with no bitcoin when you could have had improved your life, but you ended up screwing up your balances.. or you left all of your bitcoin on some exchange that ends up rug pulling you or getting hacked, and no one is going to give you back the coins you lost because of your failure/refusal to take sufficient/adequate precautions...and you might not even realize the level of your mistakes until you end up losing most (if not all) of the coins that you spent 4-10 years or more building up.

By the way, it does tend to get easier to invest in bitcoin and also to build stronger cashflow management systems as each of us gets more experienced, but even experienced investors can end up screwing up their situation, but at least the more experienced investors may well would have had more time to put various back up systems in place and hopefully to learn how to shore up their situation so that they can tolerate certain kinds of losses or certain kinds of fluctuations in the market or certain kinds of problems with their own cashflows.

Quote from: Mehmet69 on Today at 04:39:39 PM

Quote from: ejikeme24 on Today at 03:42:07 PM

[edited out]

Yes, you are right. Investing in Bitcoin is a completely personal decision of an individual. We cannot force anyone to invest. We can only give them the right advice.
Since we have decided to invest in Bitcoin. So we have to do all the things through which we can easily accumulate more Bitcoin. More or less, we all have the desire to accumulate at least 1 Bitcoin in our portfolio. But most people start accumulating Bitcoin in the wrong way. Some do not have a proper plan. Some use investment as an emergency fund. Some wait to create all kinds of backups before investing.

I want to tell all of them, you should not plan so much without starting investing. Start investing as soon as possible. Because, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income. Nothing else is needed beyond this. However, the additional things we are talking about are the things to do to sustain this investment consistently. Therefore, although investing is a personal matter, I believe we should be given sound advice.

Do you (Mehmet69) really consider that any of us are giving advice and/or financial advice here or in the real world when we are talking about bitcoin and/or bitcoin investment related matters and/or cashflow management matters?

I don't consider that I am giving any advice, even though I am sharing ideas, and members of the forum and even people in the real world have to figure out for themselves if they want to invest in bitcoin or not and/or if they want to figure out ways to manage their cashflows in strong ways when they are choosing to invest into bitcoin.

Each person is ultimately responsible for his choices whether or not to invest into bitcoin and/or whether and/or how to manage their cashflows. if they fuck up by either investing into bitcoin or failing to invest into bitcoin, then that is on them. They are completely responsible no matter which direction their actions go, and they will either suffer the consequences if they screw up or reap the benefits if they make the right kinds of choices and take the right kinds of actions.

Quote from: Barikui1 on Today at 05:22:12 PM

Quote from: Mehmet69 on Today at 04:39:39 PM

, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income.

I think that what is actually needed in consistent investment in Bitcoin is a discretionary income, because it's not adviceable to even start investing when you don't have a source of income.
Then in maintaining your Bitcoin investment, the two things that are greatly needed is an emergency funds and a reserve funds, the rest is history as long as you don't pay attention to the outside noise by haters

One thing is getting started with investing into bitcoin.. and another thing is keeping the investment into bitcoin going.

Getting started all you need is $10.

Keeping it going you may well need a lot of things that you have to figure out that relate to your personal factors.

Quote from: JayJuanGee on December 15, 2021, 02:10:03 AM

These 9 principle individual factors that influence your decision whether to invest into bitcoin and how to invest into bitcoin have financial, skills and psychological components that include:
1)   your cashflow (which also includes ideas of income versus expenses and surely discretionary income is the difference between income and expenses),
2)   how much bitcoin you have already accumulated,
3)   your other investments (including considering your emergency fund, your float and your reserves - which are usually kinds of liquid ways to hold value in cash, dollars and/or your native currency in away that many of your expenses tend to be denominated),
4)   your view of bitcoin as compared with other investment possibilities,
5)   your timeline,
6)   your risk tolerance,
7)   your time, skills, goals (investment/lifestyle targets, which includes figuring out the extent that you are in BTC accumulation, maintenance or liquidation stage),
8 )   your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time,
9)   your considering your time, your abilities and whether to trade, reallocate from time to time, to use of leverage and/or to use financial instruments... (and for sure the use of financial instruments, leverage and margin trading involve higher level skills and are not even necessary to still become richie in bitcoin's already existing asymmetric bet.)

Even though some folks might have his personal factors figured out from the start, it could take other people a while to really figure out and hone in on their various personal factors... which also might consider ways to improve discretionary income by increasing income and/or cutting expenses.

Quote from: Princess Leah on Today at 06:00:47 PM

..I don't know who gave people the idea that it's compulsory to know everything about Bitcoin before investing on it.

Hahahaha.. The main thing to know.. is get the fuck started... As long as you have $10.. and then work out the details as you go.. and don't fuck things up. I doubt anyone is fucking anything up if they are merely starting with $10.