Yes, you are right that investing in bitcoin does require a little planning and also readiness. Because these two factors do play an important role in our bitcoin investment. But besides this, I think we also have to be brave to start, because even though we have planning and readiness, but do not dare to start, of course it is also not good. Because basically starting to dare to buy bitcoin is the most important thing. Because there are so many people who make too complicated plans, but in the end they are stuck in the thought that they have to buy bitcoin when the price drops. So that's why I personally emphasize that investing in bitcoin is not complicated, because the point is you only need to have discretionary income regardless of the nominal amount, the most important thing is that it can be deposited on the exchange, I think that's good enough. And only then can you learn bitcoin little by little while running periodic accumulation or DCA.
This explanation is very contradictory and complicated to me, you are kind of saying one thing and at the same time saying the opposite, if there is planning and readiness what stops you from starting? After saying we also have to be brave to start, we have already concluded that we must not have everything perfectly planned and ready before starting or in order to get started, the most important first is to find out whether or not we have discretionary income just as you stated and if there is we are good to go and of course that will increases the chances of leaning Bitcoin more and improve in various kind of way that they are not doing well.
The fact that one has made plans on starting and is ready means they're good to go, I don't really understand where the bravery comes in or does the investor needs people like JayJuanGee and other strong holder to come in physical and motivate them daily before they'll know the right thing is to start once their discretionary is intact.
Since investing in bitcoin and bolstering cashflow management in a way that tailors to personal circumstances, there is likely a lot of learning along the way. One thing is getting started and figuring out that a guy has enough discretionary funds to make a bitcoin purchase, yet there is another thing to keep such bitcoin investing going, including a likelihood that so many aspects of a guys relationship with his finances is likely ongoingly changing, including that he is likely going to need to learn a lot of new things in regards to his having had added bitcoin to his regular investments and figuring out how he is going to ongoingly be able to continue to do that while
accounting for his personal circumstances.
What people don't understand is that they don't need too much motivation to succeed, or know everything about Bitcoin before investing, knowing the basics is enough to get started and once the discretionary is intact then they're good to go, bitcoin investment is not something that's very tough to understand, once you've started you'll gradually learn more on the long run.
In some sense, you are correct Princess Leah, yet I doubt that we can presume that everyone is going to be able to discipline themselves to create their bitcoin plan, to follow through and also to consider the extent to which their already existing cashflow management might need to be tweaked in accordance with their having had decided to buy bitcoin regularly, whether weekly or otherwise and whether DCAing, lump sum investing and/or buying the dip.
I think that it can take years and years to both create good investment and/or cashflow management systems and to also put them into effect over 4-10 years or longer, and even if we consider that our newbie investor might have had considered that his investment into bitcoin was going to be 4-10 years or longer, there are not very many folks who are going to just have some lump sum amount sitting around that they put into bitcoin and then come back to revisit the matter 4-10 years or more later.
There is likely going to be interaction with the bitcoin investment and the cashflow management systems/practices, and there are likely going to be times in which the choices are not going to be easy, even if a newbie might start to think that from the start he will start out more whimpy (or conservative) and then he will increase his level of aggressiveness as he learns and gets used to bitcoin, yet there is even a lot of latitude deciding how aggressive to be, even if he is in a situation in which his discretionary income is somewhat steady, which is also not true for a lot of people.
You don't need to have the full understanding of bitcoin before you can invest into bitcoin. All you need is the basic knowledge of bitcoin how to buy from an exchange and holdi for long-term without selling a dime. You can learn and improve your knowledge in bitcoin as you6are investing, because bitcoin knowledge is broad and cannot be learned within six months because the dev are working on the network to strengthen the security every time. Instead, of waiting and wasting time thinking that learning bitcoin very well before starting, you will miss out the opportunity of starting your bitcoin investment and build your portfolio overtime. Delay is dangerous, because bitcoin price and time waits for no one.
It's true that starting to invest in Bitcoin doesn't require extensive knowledge. You can invest while learning. The most important thing is to understand the basics, such as how to store assets safely and the potential risks. This approach can provide hands-on experience that accelerates understanding and provides a realistic picture of Bitcoin investment, not just theory. It also helps them avoid missing out on opportunities, as those who take early steps, even small ones, have more time to learn and build their wealth.
If they only have limited knowledge, I think people will still delay investing in Bitcoin due to fear or other factors. Those of us who are already familiar with Bitcoin assets will certainly say that investing doesn't require extensive knowledge; you just need to learn how to buy, sell, and store them properly.
However, for those who are still unfamiliar with Bitcoin assets, another important thing they must have before investing is confidence and trust in Bitcoin itself. Once they have these two things, they are much more ready to buy Bitcoin even with limited knowledge.
So, confidence and knowledge must go hand in hand, otherwise, they will be afraid to invest. After all, investing requires confidence that the asset we're investing in has strong fundamentals for the future. I hope you understand my point, as I don't disagree with your statement; I simply want to add that "confidence and trust" in an asset are one of the indicators that people buy Bitcoin, even with limited knowledge.
The more confidence that we have, the more aggressive we are able to be in our investment, yet even if we are lacking in confidence, we can still invest more conservatively in bitcoin. In other words, we can choose our level of aggressiveness in accordance with our confidence level, yet many folks still should be getting off of zero and putting some money into bitcoin, even if they are lacking in confidence. We live with the consequences of our actions, and even our inactions. At the same time, we have to be careful in regards to concluding that we have to go big to invest into bitcoin... yet we might have regrets later based on our level of whimpiness in our investment, yet in the end we have to make choices about what to do now and without exactly knowing short-to-medium or even long term ways that bitcoin might play out in terms of its role in the world and/or its future price...
Also we don't know the level that any of us might end up screwing things up in our own management of our bitcoin and/or the management of our cashflows, so there is a lot of value in terms of our own attempts to create solid systems and/or practices in regards to our own tailoring our bitcoin investment to our circumstances. .and so historically there have been a lot of folks who had been waiting to invest into bitcoin, yet it seems to me that those who acted rather than waited have ended up in better circumstances since building up a bitcoin investment can take a whole hell of a long time, so people who end up spending a lot of time waiting rather than acting are likely not ending up with very much bitcoin even when they may have had many opportunities to buy it and to create a regular lifestyle (such as weekly btc purchases) that gives a certain level of priority to bitcoin, even if they might not have had a lot of confidence about bitcoin when they first got started investing into it.
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Preparing before venturing into Bitcoin is not prohibited or wrong and at same time it is not also compulsory that one should prepare everything before investing but anyone who can prepare and still invest will stand at a better and great advantage than someone who didn't especially if they are discipline and has a good management skill. And anyone who can not also meet if they wait to prepare first should start at least and they will sort out things while they progresses in their investment, preparation is almost same thing as foundation and there is nothing more important than having a good foundation because sometimes it determine the longevity of the investment.
We can prepare our bitcoin investment foundation and our cashflow management foundation as we are already starting to buy bitcoin on a regular basis, such as weekly... and yeah surely it could be the case that our first several weeks of buying bitcoin might not be large BTC purchases, so we might end up starting out conservatively as we get used to buying bitcoin weekly and also figuring out how aggressively we might be able to become in the future including exploring our own options, even if we might have had spent several weeks already buying bitcoin on about a weekly basis.
..... before starting investment, every investor should first know about the investment and he should also make sure in which coin he will invest.
Hopefully no one is so retarded as to conclude that they are going to invest in some shitcoin, since bitcoin is the only coin that is worthy of investing 4-10 years or longer. Various other coins, aka shitcoins, are likely trades, and/or gambling rather than investing... so it is way better if newbies figure out ways to focus on bitcoin first rather than shitcoins.. and even though this thread questions the value of investing versus trading, we are in a bitcoin section, so it seems more on-topic to be talking about bitcoin here rather than any dilemmas that some guys (including you Fuso.hp) might have in regards to how many or how much shitcoins they want to buy.