Quote from: Shadiq on Today at 05:21:50 PM

Quote from: Futurexxx on Today at 04:51:47 PM

Quote from: Cpt_reader on Today at 04:26:49 PM

. It is better for traders to wait for the market to fall but not for holders.

It makes no sense waiting for the market, yes it's true that traders prefer waiting but that doesn't mean that they can outsmart the market by acting in such a manner. The best thing to do is to buy Bitcoin anytime your discretionary income is available and hold because that's the only way you can achieve something huge with Bitcoin, all other means that traders are doing thinking they can make a fortune from the market are just time consuming and less rewarding when compared with someone that accumulated a huge stash of Bitcoin and hold for a long duration like 10 years or more.
So in essence of what am trying to say is that waiting doesn't guarantee success, and it's a terrible way to accumulate Bitcoin.

I suggest you to clarify your position, do you want to be a trader or an investor?

This thread is specifically made for investors and it would be better to discuss investment here. Because discussing investment and discussing trading will not be the same and the advice is also contradictory.

For an investor, the main objective is not to make a profit, but to accumulate Bitcoin and accumulate Bitcoin according to the goal in his portfolio. Although profit is an integral part of investment, an investor earns several times more profit than a trader in the long run.

An investor does not need to pay attention to the market. Because he is accumulating Bitcoin, the price is not important to him. Even in the long run, this market volatility does not have much impact. Because the difference between today's market and the market 10 years from now will be very big. So, do not focus too much on the price and focus on buying.

Even though the thread is specifically meant for someone else, it is also very important to make people also understand the things around. So many forum members rely fully on some of these threads to gain every knowledge of bitcoin they they used space.

Quote from: ejikeme24 on Today at 05:39:11 PM

Quote from: SuperBitMan on Today at 02:13:36 PM

if you are a newbie who wants to go into Bitcoin investment as an investor, all you need to know is the basic things about Bitcoin and then you start, someone asked me some time ago that what are those basic things she needs to know before starting and I told her.
1. What Bitcoin is.
2. [Edited out]
3. How to buy and hold.

This are the 3 basic things you need to know before starting any other thing will be learnt as time goes on or as you continue your accumulation journey.

Your number 1and 3 information is correct, but this few things you listed here can not guarantee success to a beginner who is just getting started with bitcoin investment. As a beginner who is getting started this are the Basic things you need to know for Example:

Your points are right but very impulsive.

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Risk management: As a beginner is very important to learn about risk management so as to be able to manage your risk carefully, if your risk is to hold for long term then you Stick to it regardless the up and down
Of the market.

I don't think you really understand risk management very well as regards bitcoin holding or will I say that bitcoin investment has gone beyond receiving such level of emphasis on risk management. Or do you mean how to manage other areas of responsibilities to avoid risking your bitcoin over any slight unforeseen circumstances which could have been tackled with the emergency funds. Bitcoin is a very less risky venture and does not require reading a whole template to understand, all you need is just, buy and buy and hold for long term and you will reap it at maturity.

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High volatility: bitcoin in known for its wild price swings, one day bitcoin can hit a new ATH, the next day it could drop by 20% as a beginner you also need to understand this to avoid selling your holdings with panick.

Yeah, sure. Bitcoin volatility is an integral part of bitcoin investment that must be understood by any beginner to be able to go through the phases of bitcoin investment. Bitcoin volatility has no established pattern nor period as to when you look forward to it. Understanding this behaviour would save your bitcoin from panic sales which will also cause possible losses of your bitcoin stash. This is also the strength of bitcoin and also contributes to bitcoin price regulation.

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Security: A beginner need to get Smart about security, one of the important aspect of buying bitcoin is storing it safely in such a way that scammers will never have access to it, the same thing applicable to your wallet seed phrase, if you're to save it offline you need to keep it out of the reach of children/ people.

The security of your bitcoin stash is your responsibility. As an investor you have to understand that your bitcoin security is the first duty you have. Guarding your passwords, pass keys, pass phrase and Even you Authenticator. Bitcoin theft don't just happen, you must create a loophole for anyone to scam you.

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Choose your wallet: there are a lot of wallets out there so a beginner need to be very careful to avoid choosing the wrong wallet.

Your choice of wallet is your sole responsibilities and you have to consider it's friendliness and proper secured withdrawal interface.

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Last but not the least, A beginner need to understand that is a must to invest from discretionary funds which is the Left over after all expenses is being figured out. This are the basic things a beginner need to know before getting started with bitcoin investment.

Investing by discretionary income is something any investor who aims at the future should look at. When you intend holding for long term, you also do it without stress. Investing with Not all your discretionary income but only a percentage of your Discretionary income would make you invest only what you can hold for long. Whoever earns any amount should learn to build his emergency funds first thing.