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.
Yes, and since Bitcoin is a long-term investment, in order to make Bitcoin investment effective in a mature way, it is mandatory for you to have a long-term well-planned strategy. In the case of Bitcoin investment, if you make an investment decision without any plan, it will definitely affect you only negatively, and that is why it is necessary to be educated about Bitcoin, but in this case, one thing to keep in mind is that it is never a good decision to delay investing in order to become educated about Bitcoin, that is, you should start investing first and then learn about Bitcoin.
To be clear, you first need to gain general knowledge about Bitcoin, then start investing, and if you want to be consistent, you can think about becoming deeply knowledgeable about Bitcoin, but first of all, you must gain general knowledge about Bitcoin by which you can decide to hold Bitcoin for the long term in the first place, those who have understood the real power of Bitcoin, they never think about short-term investment or profit, real investors always keep long-term investment in mind and this is why they profit the most most of the time.
You should always have the right understanding about Bitcoin, it is a long-term journey, so there is no reason to ever worry about the short-term volatility of Bitcoin, if you lose your confidence during every volatility and decide to sell your holdings unnecessarily due to panic, then you will never be able to enjoy its real benefits, because during every volatility you will unnecessarily panic and disrupt your holdings, so to speak, first try to firmly understand the real potential of Bitcoin and have a long-term holding mindset, only then can Bitcoin investment transform you into a successful investor in the long term.