Quote from: Nightwatchmare on August 18, 2025, 04:26:36 PM

Quote from: Lembo69 on August 18, 2025, 12:45:47 PM

When investing in Bitcoin, you need three things.
1/ Money
2/ Patience
3/ Caution (Being Active)

You should replace money with discretionary income in the three things someone needs when investing in Bitcoin so that newbies will know the right money they will use to invest in Bitcoin because newbies may use the money that's meant for their expenses to invest in Bitcoin, and when their expenses arise, they will have no money they will use to solve their expenses, which will make them fall back to sell their Bitcoin so that they can solve their expenses.

Tell him to either make it four things or to remove the third number and add knowledge first. Going into something you do not know is a suicide mission in the first instance. If you want to learn how to either trade or invest in Bitcoin you must firstly weigh one of the two first and prioritise your suggestions based on your end goals. If your end goal is to build a portfolio now against the future, your best bet will be to select Bitcoin investment, and if your end goal is to make some quick cash out of the system, then you will be more interested in trading.

This is reason why knowledge should be the first point of contact when it comes to Bitcoin or any aspect of the financial technology is because it will be the first tool you need to make the necessary decision in the first place.

If I was to follow my order of necessity, after acquiring the basic knowledge you need, the next you need to check is your patience. You need to also understand your level of patience in making hard decisions because it will make you or negatively impact your decisions . Then money is also important because it is now the tangible or physical asset you need to begin this processes you've been maturing in the brain. Then Caution can also follow suit.