Quote from: icebar on Today at 07:34:38 AM

Quote from: sotelorene on Today at 06:28:23 AM

[edited out]

Yes, as you gain knowledge, your confidence in Bitcoin will increase. But if you wait and spend a long time before investing in Bitcoin to gain proper knowledge, I think it will not be a good decision. If you have a basic idea before investing, especially how to store it in a safe wallet, I think you can start investing regularly from then.

You seem to be mixing up the basics icebar.

Sure, learning how to store BTC in a safe wallet is important, especially the further down the road we get, yet there are way more basic things that are more important than privately storing your bitcoin, which relate to figuring out your discretionary income and to get some ideas of your cashflow management so that you do not invest beyond your discretionary income, and sure there may well be guys who already know how to do these things, yet it seems that figuring out cash flow management is one of the more basic skills and you don't even have to have your cashflow management figured out right away as long as you are correct about your having discretionary income and you are not investing beyond your discretionary income.

I know that some guys believe that it is important to not use third-parties to keep your coins, yet i doubt that private wallet management is a basic skill that has to be used first, especially for people who might begin to source their coins through third party services.

There are some folks who might start out buying bitcoin directly from someone else, and likely they would need to figure out their wallet situation sooner than someone who is buying bitcoin on an exchange... so sure it is important not to lose bitcoin through poor wallet management or through the employment of some shady exchange, yet I still question the extent to which wallet management would supercede figuring out if we have discretionary funds for the first purchase and then continuing to make sure that we are spending within discretionary funds for subsequent purchases, including if we might start to buy bitcoin on a weekly basis or some other frequency like that.

Quote from: icebar on Today at 07:34:38 AM

Because the price of Bitcoin can increase from current price at any time and the current price can be a dip. There is definitely no alternative to gaining knowledge when it comes to being a good investor. If you continue to gain knowledge about Bitcoin along with regular investment, then your knowledge in investing in Bitcoin will increase and at the same time your portfolio will increase. After gaining more knowledge, you should start investing in Bitcoin without delaying.

You are probably wrong in regards to the extent to which you need a lot of knowledge prior to getting started investing in bitcoin, and likely you can learn a lot along the way, and since no one wants to lose money, there likely will be incentives to learn more and more about bitcoin as a person invests more into it. Yet at the same time, one of the mot important things to do is to get started, and starting out position size can surely be adjusted based on how much knowledge and/or confidence that a person has, and surely the less knowledge and confidence that a person has in the beginning may well cause him to invest less in the beginning, perhaps starting out with $10 or maybe $100 or some other fairly conservative amount as he is also looking further into matters, perhaps considering his personal factors, yet not having to resolve all of his personal factors in order to get started investing in bitcoin whether weekly or otherwise..

Quote from: Barikui1 on Today at 09:08:32 AM

Quote from: JayJuanGee on Today at 02:44:28 AM

Sure, in theory, the buying of bitcoin should become easier as a guy gets more experience in regards to his bitcoin buying and his cashflow management, yet there can be guys who are in tough situations in their lives in regards to the steadiness of their income, problems with their expenses and/or their handling of various debts that they might have. Of course, it is more likely that guys will improve with their bitcoin investment and their cashflow management if they are trying to learn and to improve their situation, yet none of it will come automatically, especially if they might be coming to bitcoin with earlier bad habits and even perhaps having challenges in regards to their ability to even identify some earlier bad habits that they had.

Yea you are actually right here, it's takes a newbie investors more time to unlearn bad investment harbit, relearn and stick to the right knowledge, because I have seen guys that are used to buying Bitcoin and selling off once their is an increase in price, those types of newbies investors, it will takes them years to accept the reality that the best way to make a fortune from your investment in Bitcoin is by accumulating a huge stash of it and hold for a very long period of time.
These types of investors, due to the fact that they already have those bad harbits, those traders mindset, it will take them more time to readjust and move on the right path even though they know that they were on the wrong path for too long, but if the said fellow has the will needed to grow in his Bitcoin investment, with time he will readjust and follow the right path even though he might struggle in doing so.

Not everyone learns or gets out of his bad habits or even concludes that what he is doing is bad. So sometimes even folks who start to learn good habits, they may continue to retain some bad habits, and even guys who are very smart, they might get really tempted to sell bitcoin or to slow down in their bitcoin accumulation, even when they are supposed to be buying it. So guys have to figure out how to invest and to manage their cashflow and to develop the right kind of a long term investor mindset and to bring themselves away from trading/gambling tendencies and even in various aspects of their past cashflow management problems, including potentially their consumption or their use of debt for consumption, they may well need to figure out ways to modify and moderate some of their behaviors to make them more investment friendly.