Quote from: Hewlet on Today at 08:22:52 AM

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.

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.

when it comes to investing, it is better to have a very good plan that will work rather than having ordinary mindset that is not backed up with a proper strategy that will yield result for the investor. mental resilient is very good as it helps you become motivated to continue investing even in times when a lot of odds might spring up but then, in addition to that, you need real plan in place regarding how you intend buying your bitcoin and the strategies that will help you continue buying without getting tempted to sell just too soon.

having proper budget for investing with the right allocation for emergency fund as well as as well as setting up other things that will make one a very good investor is the surest way that will make your resilient to have a real life effect that is visible to all eyes. the only way that people and including yourself can be sure that you are a resilient investor is when you are able to execute a strategy that you can follow up to the latter and still see some really good result that comes out of it.

the only way you can build your portfolio is when you invest and the only thing that shows that your strategy is effective is when your potfolio is getting better by the day. the strategy that is use by MR A might not be entirely the same with that which is used by MR B but in the end, what shows that you you are doing a good thing is when your buys is getting better by the day.

Definitely it might be helpful to have all that knowledge you are talking about like having a good budget and good financial plans and mental preparation and stability and a suitable strategy but it is not actually necessary to have everything you talked about sorted before you start investing in Bitcoin, first of all you should have a discretionary funds to start investing and secondly you should also invest what you can afford to loose because there is no maximum guarantee when investing in Bitcoin and it’s never a risk free investment, that is why it’s always advisable to invest and hodl for a longer term, I know people can make mistakes and there is no guarantee that mistakes will not be involved, now if an investor should make invest from money that is meant for taking care of expenses that should be a mistake from an investor that is most likely gambling.