Quote from: Bigjoe33 on September 22, 2025, 07:49:49 AM

Quote from: 2Pizza410000BTC on September 21, 2025, 07:54:03 PM

Those who have discretionary income should invest some of their income in Bitcoin, especially there are many people who save the money earned from their jobs in the bank or at home, now instead of saving this money in the bank at home, if they invest through Bitcoin, it will be the most successful and will get much higher returns. Apart from that, the benefits that Bitcoin offers are many times greater than the benefits that banks offer. So why would I keep money in the bank even though I know about Bitcoin? If I keep money in the bank, it would definitely be very foolish.

Bitcoin offers alot financial benefits, no doubt, but I want to state categorically that everyone must not invest in Bitcoin, yea! Been part of Bitcoin investment and or an accumulator of Bitcoin depends on two factors, which are:

*Knowing about Bitcoin in the first place, having at least a basic knowledge about Bitcoin and what it represents and
*Having interest to acquire it.

Those who do not know about Bitcoin will not be a part of the accumulation because you can only be part of what you know. But on the other hand, if you already know about Bitcoin, do you have interest in investment or accumulation of Bitcoin? Because I believe it's your interest that pushes you to invest. So we cannot really blame or fight a business man who knows about Bitcoin but has no interest to invest in it to do so, it's all choices and personal decisions, it's there own money after all. So I see INTEREST as a major factor to investing. So a man who maps out his income, handles his basic necessities and then creates his discretionary income and alorts for Bitcoin accumulation is really working on interest and priority, but a man who chooses to leave his discretionary in local acounts may not necessarily be foolish but may just lack interest in whole Bitcoin accumulation stuff, and shouldn't be scorned for his own personal decision, after all, there are other investments one can do apart from Bitcoin, yea. We only speak of Bitcoin so much well because its value is top notch and it's has proven over the years that it a stock of value and a financial liberator in the future.

Talking about keeping money in the bank, you can't necessarily keep all your money in BTC, because you may need your emergency funds to settle something immediately, and such emergency funds should be something you can access immediately and must not be loosing value over time, else you miss out on the aim why had the emergency funds at the first place. So yea, the banks are not completely ruled out. You can still accumulate your Bitcoin and also have some funds in banks for other reasons simultaneously.

Quote from: Proty on September 21, 2025, 08:17:57 PM

I think you are getting something wrong here the fact that you are investing in bitcoin doesn't mean it is bad to have money in the bank or at home. Discretionary income is what you are supposed to invest with, i believe not all the money that is saved in the bank that is discretionary income. An investor can decide to keep his emergency funds in the bank, aside this there are countries were you can't transact with bitcoin. So it isn't a bad idea if people decide to save some part of there money other than discretionary income in the bank.

You are correct and that's the misconception people often have. Because we are talking about accumulation of Bitcoin and savings and the possible benefits we can get from such accumulated Bitcoin in the future, some now feels like we are totally Rulling out the services of the banks. They forget that it is not all the discretionary we are using for the accumulation. Some discretionary goes for building our emergency funds which is also very necessary and or a backbone to our successful long term investment plan. So, at this point, should I also keep my emergency funds in Bitcoin too? And my other back up funds, all in Bitcoin? Hell no, because it wouldn't be the right thing to do. If we also keep the emergency funds in Bitcoin, that means we have altogether invested all your income in Bitcoin accumulation and we know the doom it spells. Banks are still needed for other pretty cash work and access while we consistently accumulate Bitcoin on the other hand.

You list what you consider to be the most important qualifications to get involved in bitcoin, yet I think that you are wrong, since I think that the two most important qualifications is 1) having a discretionary income and 2) having an ability to learn (not being retarded - only 1-2% of the population is retarded - everyone else can learn, especially once they get beyond their teenage years). Probably, having an interests is important, yet it seems that most of what you are proclaiming to be basics can be learned along the way and are not needed prior to getting started..

Quote from: Tmoonz on September 22, 2025, 08:05:16 AM

Quote from: 7juju on September 21, 2025, 10:43:42 PM

Quote from: MusaPk on September 21, 2025, 04:04:37 PM

If you are accumulating Bitcoins and want to hold them for long term then best approach is to accumulate them through discretionary income. While your job salary or business income can be used to meet daily requirements. Why discretionary income is important is because it allows to dormant your Bitcoin for longer duration. Without discretionary income or if you are accumulating bitcoins with your salary then you might cash out your bitcoin in the long run, which completely destroys your plan of long term investment.

Seems you don't really know were discretionary income come from or how it is gotten. You are missing something here. It is from your salary or profit from your business that you get your discretionary income from. Discretionary income is the money that remains after you have removed money for your day to day expenditures From your salary or from the profits from your business. In nutshell it's from your salary or profit from your business that you can get your discretionary income from. So discretionary income is not another money gotten outside your salary or profit from business.

Hahaha so funny of him with his narration and I saw that jayjuanGee has already given him an sMerit for such post, infact what he was saying was completely out of the line and it kept me wondering how a discretionary income generation stands on it's own if not gotten from either your job salary or business after the basic needs expenses has been taken care of, I can't stop laughing on reading that post, some time I wonder how members grow up to a certain extend and still be making some kind of statement, to me it shows that he doesn't even know what he was actually saying and what it stands for but is fine we learn every day.

You guys are likely correct that MusaPk does not really understand discretionary income or how to describe it clearly... so yeah, sometimes I make mistakes when I send out smerits, and sometimes, I don't see glaring mistakes within the posts of members upon my first reading and/or my first glance at the posts.

Sometimes I start to respond to a post, and then I come to understand that the post is saying something much different from what I had originally thought that it was saying, so then I have to try to make a decision about whether I should make some kind of quick redrafting of my post or perhaps I should abandon the idea of responding to the post when I had already drafted much of it..

Of course, there are members who post in very convoluted and confusing ways, which sometimes cause me to wonder if they are posting from their own personal experience or if they are just theorizing about bitcoin and/or investing as a topic.

Sure, I would like to read more posts that were better drafted and even clearly based on personal experiences, yet we have some bots in these threads and we also have some members who are heavily dependent on translation services, so they sometimes are communicating their ideas in very confusing ways. I have had interactions with MusaPk in the past, and I believe that MusaPk is a real person.. but there is no way for me to really know for sure about whether MusaPk is a real person with those kinds of confusing ideas (or confusing ways of presenting some of his ideas).

Quote from: Tonimez on September 22, 2025, 08:44:53 AM

Quote from: Tmoonz on September 22, 2025, 08:05:16 AM

Quote from: 7juju on September 21, 2025, 10:43:42 PM

[Edited out]

Hahaha so funny of him with his narration and I saw that jayjuanGee has already given him an sMerit for such post, infact what he was saying was completely out of the line and it kept me wondering how a discretionary income generation stands on it's own if not gotten from either your job salary or business after the basic needs expenses has been taken care of, I can't stop laughing on reading that post, some time I wonder how members grow up to a certain extend and still be making some kind of statement, to me it shows that he doesn't even know what he was actually saying and what it stands for but is fine we learn every day.

I believe Jayjuangee merited him because he is not completely wrong and also because he actually shifted the interest of investors from the regular sourcing of discretionary income from the basic income source into bringing our mind to also sourcing discretionary income from additional income source. To an extent, sourcing discretionary income from additional source of income is more stress-free because it allows you to use your major income source to tackle family problems.

Let's take for example, most people signed to campaigns also have other jobs they do out there but most people basically invest in bitcoin from their campaigns. This does not mean that some people don't invest beyond their campaigns but it shows how your additional source of income could be a strict source of discretionary income with which you can invest in bitcoin and maintain your DCA approach.

I agree that a person could have a main source of income and then derive additional income that might be almost completely discretionary income by having other jobs and/or even investments that generate income that might be almost exclusively discretionary income.

Accordingly most if not all of the expenses of a person could be sufficiently covered by the income of a primary job, and then various secondary jobs and/or investments could provide additional income that would be most if not almost all discretionary income..

It is also true that some jobs (income) might cause additional expenses, such as transportation, clothing, food, lodging, yet the extra jobs might generate enough extra income that they pay the extra expenses and they generate extra discretionary income that the person concludes is worthy of his time and energies to carry out the extra jobs or the extra ways of generating income.

Of course, each of us may well question the extent to which it is worth giving up our extra time in order to earn extra income, so there can be tradeoffs in regards to whether the extra income is more valuable or whether it is more valuable to have the extra time, and sometimes it can be smarter to not gain extra short-term income in order to study or to spend time building up social networks that might result in better pay and better positions further down the road, so instead of making $10-15 per hour, maybe the person could earn $50-$60 per hour in some promotion position based on his learning other skills and even volunteering his time in positions that were either unpaid or of lower pay but lead to positions of higher pay further down the road.

Accordingly there can be questions regarding the extent to which additional jobs are needed or even required in order to increase discretionary income.

Sometimes it may well be better to obtain a job that pays very well, rather than to obtain a bunch of low paying jobs that suck a lot of time and energy out of a person, and maybe do not even allow a person time to build himself, his interests and/or his skills.

Quote from: Cgrexp on September 22, 2025, 12:13:46 PM

Quote from: Scarlett_23 on September 21, 2025, 10:04:19 PM

[edited out]

There is a lot of debate about whether one should start after learning or start before learning. However, I think that neither just starting nor theoretical knowledge is enough alone. Just as sitting around acquiring theoretical knowledge is a waste of time, jumping in blindly is dangerous. The most effective approach would be to invest consciously, where I will continue to invest and learn at the same time. Many people see Bitcoin as a way to get rich and they are the ones who lose the most.
A person who does not know much about Bitcoin. Seeing that the price of Bitcoin is increasing, everyone is buying it, he thought it was an opportunity to get rich. So he also bought $1000 Bitcoin. After a few days, it fell by 10%-12%. He got stressed and panicked. He did not understand whether this was a normal price fluctuation or an indication of a big loss. As a result, he sold it out of fear. Although he lost because of his own mistake, But he thinks,' Bitcoin means loss'. There are many people who do not know anything, do not understand, do not invest in the right way without a plan and end up losing money and ultimately blame Bitcoin.
But another person who acquired basic knowledge about Bitcoin and similarly decided to continue learning and investing. . He started investing $50 per week in the DCA method. Even though the market fluctuated, he did not panic because he knew that this was normal. In addition, since the average purchase price was stable in the DCA method of investment, he did not have to think much about the price. In this way, he is learning a lot about Bitcoin along with investing. He has kept his average investment price under control. He has remained calm and continued his investment consistently even during market volatility. The reasons for his success in the long term are that instead of investing big, he started small and continued to learn and invest simultaneously so that neither is stuck for the other. He has maintained the mentality of learning patiently and investing for the long term without falling victim to FOMO.
From the example of these two, I basically want to say that it is necessary to have some basic ideas before investing, but you should not miss the opportunity to wait to learn. Start with small amounts consciously and continue investing while learning, so that the risk is limited, the stress is low, and the learning speed is based on real experience. And this experience is more effective than learning from books. In this, DCA plays an important role. I think DCA is not only an investment strategy, it is also the most effective way to learn. In this, a new investor can gain experience with small amounts, observe the market in reality, get the opportunity to understand his emotions, and step by step, both investment and education can be taken forward together.
[/quote]

I think that guys get distracted into thinking that they need to learn about bitcoin, but instead they need to learn around their own finances and to choose their beginning position size while they are getting started right away, and they can learn about bitcoin as they go.

I am not relieving anyone from the need to learn about bitcoin, but it is not the most basic thing that they need to know before getting started. They can look at a chart for 5 minutes and see that bitcoin is number go up technology and they have the basic idea about bitcoin.

The more important thing for anyone brand new to bitcoin is how to manage their investment into bitcoin in terms of their own discretionary income and perhaps giving some considerations of their various individual particulars.

They do not have to have their individual particulars figured out since they can learn details of their individual particulars, and sure the less they know about bitcoin, then the smaller their starting position, and the more difficulties that they have learning, then they would invest less until they have confidence that they can learn, and adjust their investment as they learn so that as they learn more about bitcoin and become more confident in it, then they increase their position and aggressiveness in investing into it, so the more important ideas regard how they are going to begin a DCA approach and/or make sure that they have backup funds while they are investment, so they are learning about their cashflow management systems so that they can figure out if they are going to continue to invest and/or are the going to continue to have income to continue to invest or if they don't have income that involves discretionary funds, they they won't be able to continue to buy bitcoin..

Quote from: MusaPk on September 22, 2025, 03:36:44 PM

Quote from: Joy- maker on September 22, 2025, 11:49:42 AM

I think you failed to understand that your discretionary income comes from your salary or from the money you make from your business. And I found this your comment above confusing, because I don't see any reason why you said that our discretionary income should be use to accumulate bitcoin, while our salary and money coming from our business should be used for settling our basic needs and expenses, and you forgot that our discretionary income from those two source. Instead say that will should only accumulate bitcoin with our discretionary income and not with money meant for settling our basic needs and expenses.

Let me rephrase what I was trying to say. We have a monthly income that comes from salary or through some kind of business. If we utilise that income for accumulating Bitcoins, then we might not maintain consistency in accumulating Bitcoins because salaries are not increased in accordance with inflation rate.

What we need is a constant stream of income that goes straight into Bitcoin and that stream can be income generated either from signature campaign or through some other part time job. In this way, our monthly income can be used for our daily living while the extra money we generate goes straight into accumulating Bitcoins. In this way we can maintain consistency in accumulating Bitcoins and also hold them for long duration like 10 years or more.

There is nothing wrong with this statement from MusaPk regarding the fact that sometimes folks might not make enough money through their primary employment in order to feel that they have enough discretionary income, so sometimes they might conclude that the solution for them to increase their discretionary income is to pursue additional sources of income, which increases their discretionary income since their expenses might be mostly already covered by their first (primary) job (or business as MusaPk mentioned as a possiblitity).

Quote from: SmartCharpa on September 22, 2025, 05:59:27 PM

Quote from: Makus on September 21, 2025, 08:56:13 PM

A lot of people overcomplicate Bitcoin at the start, thinking they need to know every single detail before they even make their first move.. But the truth is, time really does not wait for anyone, and the earlier you start, the better your position in the long run.. Even learning along the way feels more natural once you already in the game..

Like you said, the basics, how to buy, where to buy, and how to keep your Bitcoin safe, are more than enough to begin with.

Sure, many people usually have this idea when they are starting investment, they think it’s very necessary to have everything perfect before they can invest. But it doesn’t make sense that way, because the time we are wasting trying to get everything perfect to invest, we can at least use it to invest and feel among those who are already holding Bitcoin. There is no point in learning without experiencing how it feels to hold Bitcoin. We can start with the little knowledge we have, just to experience it, and from there we will also learn how to keep our investments safe.

Moreover, while we are holding, we can also learn how to control our emotions during the dip. We will learn how to hold and keep accumulating. As long as we understand the risk involved, invest money we don’t need anytime soon, and have the patience to hold while the market goes up and down, then we are good to go to invest. No need to wait for anything else.

Yep. If we are uncomfortable, we start with a smaller position, but it is better to get started, and as we become more comfortable and familiar we can increase our level of aggressiveness and our position size would thereby grow in the event we become more comfortable with bitcoin and with our various personal factors.