Quote from: De seer1 on Today at 07:29:31 AM

Quote from: JayJuanGee on Today at 01:57:07 AM

[edited out]

Allowing investment to grow at a long time it lead to a significant returns thanks to the ability of compound interest,

As I already outlined and explained in the above linked post, in bitcoin we are referring to compounding value, not compounding interest, since bitcoin does not earn an interest unless you custody with someone else, and we need to be careful if we are custodying our coins with someone else.

Quote from: De seer1 on Today at 07:29:31 AM

investing provides the advantage of riding the market fluctuation assisting investors prevent impulsive decision driven by short term volatility. over some years people experienced firsthand how going through multiple market cycles can increase more grounded and realistic understanding of investing it reinforces the importance of patience, discipline and a long term achieving financial goals.

Even though you are not incorrect in your outlining of the above principles related to bitcoin, since you are new here, why don't you talk about what you are doing in relation to bitcoin rather than merely spouting out abstract bitcoin theories.

Quote from: Sim_card on Today at 11:21:15 AM

Quote from: Cgrexp on Today at 09:56:33 AM

New investors think that they need to know Bitcoin in depth first, but the real priority should be understanding their personal finances, such as cash flow, backup funds, and determining the size of their initial investment position. A few minutes of chart analysis is enough to get a basic understanding of Bitcoin. It is wise to start with small positions and gradually build up confidence and investment as you learn. This is why DCA strategy and proper financial management are essential. So that it is possible to continue investing regularly.

How does the chart has any value to add to the basic knowledge of bitcoin. Are you a trader who is trying to time the market and buy when there's a dip.

A person who is brand new to bitcoin has to have some basic information that might relate to number goes up or bitcoin is sound money or some kind of an idea regarding why he is starting to invest into bitcoin rather than putting (or keeping) his money somewhere else.

If he sees that number tends to go up, then his interest may be sparked, even if he hardly has any clue regarding why it goes up or what might cause number to stop going up... so he still might end up with some kind of a hook to get him started to figure out how he is going to source his coins within whatever discretionary income that he has, and surely the less he knows, then maybe he is merely going through the motions of figuring out how to buy the coins.. but that is after the point that he has already figured out that he has discretionary income that he is going to be able to spend.

Quote from: Sim_card on Today at 11:21:15 AM

A new investor does not have any business with the chart since hs is a no coiner, he is to start buying immediately irrespective of the price of bitcoin provided he has figured out his discretionary income and how much he is willing to invest fro his discretionary income that wouldn't stress him financially.

I agree with you that getting started is one of the main things, yet there still has to be some motivation to get started, and what is that going to be? A trusted friend said something about bitcoin? The guy heard bitcoin on the news, yet what did he hear on the news? There likely are going to be charts involved that help the guy to figure out that oveall the number has been going up and it is likely to continue to go up.. .but there might not be a lot of confidence in whether the number is going to continue to go up, so he can still start to figure out how to start to buy bitcoin while he is studying it more, but looking at the chart may well give him some kind of confidence that something is going on in bitcoin, and it is not necessarily a bubble that is going to come crashing down soon after he starts to buy into it... but he is not going to know that bitcoin is not going to come crashing down, yet he may well be prepared for BTC price moves in either direction and that he is just figuring out his starting budget as he is learning more.. and maybe off the top of his head, he sees that he has around $5k that he could draw from some of his other investments (and/or savings) and he also sees that he could reasonably start to invest $100 per week, yet since he is getting started, he merely wants to put in around $300 and maybe invest around $30 per week while he is getting his bearings on what bitcoin is and also better figuring out his own finances, to the extent that he might not have had already created some reasonable cashflow management practices.

Of course there are layers of importance that are going to differ between folks, and some guys will already have decently strong cashflow management practices and good ideas about their finances (like how much they might be able to afford to put into bitcoin each week), yet other guys might need to be motivated both in terms of figuring out and setting up systems to start to source their first bitcoin but then also figuring out how much they might want to start to dedicate to investing into bitcoin, whether they ONLY have their salary or if they might already have some savings and/or other investments, and some of their own personal details will affect what steps that they have to take next, which yeah, they might not have to go in depth about some of the matters as long as they figure out that they have some discretionary funds that are going to start themselves out.

Another early stage for guys might be getting some general idea about how much time and energy they are going to have to look into bitcoin, so maybe they hear about bitcoin and they figure that they have to spend a few hours figuring out how to source coins and they have to spend a few hours each week to study bitcoin, even though they may have already decided that they were going to get started, so they may well have to figure out their schedule in regards to which days (or parts of days) they are going to have available to look into bitcoin, to set up some of their buying systems and to dedicate some weekly cash amout and perhaps some weekly time amount, and if they aren't able to dedicate 1-2 hours per week to learning more about bitcoin, even if they got started, then they might not even get motivated enough to get started and leave themselves in a position of a no coiner or perhaps a low coiner if they took the initial steps to make their first $300 purchase.

I had a relative in 2016 who I had sent some bitcoin in 2014.. perhaps I had sent around $20 worth of bitcoin when BTC prices were around $350, and so he was asking me about the bitcoin that I had sent when the prices were around $700, so his money had doubled, so he personally decided to buy $300 in bitcoin, but he largely did not do anything else, except sell all of his bitcoin in about September 2017 when the price went to $3,500, so he ended up making 10x on the amount that I had given to him, and around 5x on the amount that he bought, and the punchline is that he never really did his homework or got himself into a habit of building up a bitcoin position.

Quote from: Sim_card on Today at 11:21:15 AM

A chart wouldn't teach how to select a good exchange and open an account with them or will a chart show your how to buy bitcoin.

You are correct that newbies do not need to be worried about the price. Once they figure out that they are going to start to buy, then they may well need to mentally commit to buying and then reinforce their commitment to buy with periodic buys, such as weekly buys, yet they still have to have something that is motivating them to buy. What is that going to be? For each person their motivation would be different, and some guys might come into bitcoin and they are not even ready and/or willing to commit for 4-10 years or longer, yet if they get started and they study bitcoin, they might come around to understanding that bitcoin is an investment rather than a trade, yet they might not understand that point right from the very beginning... so what would be the thing that motivates them to invest into bitcoin? most likely something related to bitcoin's price and/or value as compared with other assets, and even if they don't know the details and/or they don't need to study the charts about those details, they still might need to see some kind of a chart that compares bitcoin with other assets (0r perhaps compared to the dollar) or something that helps to give them some confidence in bitcoin to at least get started. .which getting started is an important phase, and something has to motivate newbie normies into wanting to get started.

Quote from: Sim_card on Today at 11:21:15 AM

As a matter of fact a newbie wouldn't understand anything on the chart, no need wasting time on unnecessary things that is not important. Whatever, you want to learn should be done after you have started your bitcoin investment.

A newbie normie can see that historically the number has generally been going up, yet he might not understand if the number is going to continue to go up. yeet he might still come to a general conclusion that the number is likely to continue to go up into the future, even though some folks see some bitcoin charts and the presume that it is going to crash any moment.. so they come to wrong conclusions based on their having had looked at some bitcoin price chart(s).

Quote from: Loyang on Today at 11:30:10 AM

Quote from: JayJuanGee on Today at 01:57:07 AM

What are the basics that the newbie needs to learn about bitcoin before getting started?

Sir I am a new person I am learning almost everything from you, I try to read every comment of yours sir. I think in the first place a person should know about Bitcoin security, Blockchain technology and what is Bitcoin. If a person knows these things then he will be able to understand why he should invest in Bitcoin. When a person can understand these things then he will be willing to invest on his own and then he will be able to understand on his own what is needed to invest. Like wallet, how to buy and sell Bitcoin etc.

You believe that a person needs to know those things that you mentioned prior to getting started investing into bitcoin?