Quote from: ruykeri on September 24, 2025, 05:43:54 PM

Quote from: Alonso_ on September 24, 2025, 01:11:34 PM

Quote from: JayJuanGee on September 24, 2025, 01:57:07 AM

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

I think as a newbie what I need and require to start investing in bitcoin is a discretionary income and a little details and knowledge, how to buy bitcoin and also knowing a safe wallet to hodl our Bitcoin, discretionary income is very important, because some newbies makes that mistake of investing in bitcoin with money meant for paying for their expenses which I think it’s really not an effective way of investing into bitcoin.

I think we can be learning other things while we have already started investing into bitcoin.

You are right, in fact, to invest in Bitcoin, you must first have discretionary income. And you must have the ability to acquire knowledge. And that is, of course, maximum in humans. After that, you need to create a basic idea about Bitcoin for investment. The most important things to keep in mind when investing are Volatility, long-term vision, DCA(Dollar-Cost Averaging), risk management, security. If you invest patiently for 4 to 5 years, the possibility of making a profit is much higher. Every 4 years ends in a cycle. After that, the price of Bitcoin increases a lot. Which has happened in the past. So everyone should invest for at least 4 years after investment and complete a halving time .

What happens if a person starts to invest in bitcoin at or near the top of the cycle?

what happens if a person starts to invest in bitcoin after the top and as the price is going down?

What happens if a person starts to invest in bitcoin at the bottom of the cycle and/or as the price is going up?

Even though there are some guys who are able to start their investment with a lump sum or to front load their investment, into bitcoin, yet I imagine many would be investing into bitcoin in a regular way, such as weekly and such as dollar cost averaging.

Should the above described situations be treated differently, since a person might not know exactly where he is in the cycle. To get started does a bitcoin newbie need to learn bitcoin cycle theory?

Quote from: Obulis on September 24, 2025, 06:16:02 PM

Quote from: JayJuanGee on September 24, 2025, 05:35:23 PM

Quote from: Loyang on September 24, 2025, 11:30:10 AM

Quote from: JayJuanGee on September 24, 2025, 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?

Ordinarily, the outlined basics @Loyang is already sounding like many months in the class learning about Bitcoin without investing. Talking about basic, I guess it shouldn't be so technically demanding like the outlined above. More also, wondering why knowing the outlined @Loyang would be the only reason for someone to understand why to invest in Bitcoin. Does it mean that not knowing most of the outlined one won't understand why to invest in Bitcoin?

Sometimes I wonder if members participating in threads like this are speaking from actual experience or merely from theory.

Many of us should be able to figure out from our own experiences how much we need to know about bitcoin and/or about our personal finances/psychology.

Sure, many of us are learning as we go, so we may or may not recognize that we might need to make adjustments to what we are doing or what we plan to do.

Many times, I proclaim that guys need to get started as soon as possible, and that guys can work out the details, yet guys cannot get started right away if they cannot even figure out the extent to which they have discretionary income or not, and they also should not get started if they have personal problems that inhibit their abilities to learn and/or their inclination to fall into gambling (trading) practices rather than trying to approach bitcoin as an investor.

Sure some folks might not know the difference between being an investor and a trader, yet that should not necessarily stop them from getting started and trying to figure out why so many guys in this forum suggest that approaching bitcoin as an investment is better than trying to trade it.

Quote from: HajiBagi on September 24, 2025, 06:19:24 PM

Quote from: Alonso_ on September 24, 2025, 01:11:34 PM

Quote from: JayJuanGee on September 24, 2025, 01:57:07 AM

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

I think as a newbie what I need and require to start investing in bitcoin is a discretionary income and a little details and knowledge, how to buy bitcoin and also knowing a safe wallet to hodl our Bitcoin, discretionary income is very important, because some newbies makes that mistake of investing in bitcoin with money meant for paying for their expenses which I think it’s really not an effective way of investing into bitcoin.

I think we can be learning other things while we have already started investing into bitcoin.

The first thing a newbie should know about bitcoin is how to secure their bitcoin and protect their wallet at all costs. This is very important because there are many people outside who are doing everything they can to ruin people's lives by scamming them. The second thing a newbie should understand is that Bitcoin is a long-term investment, bitcoin is not an investment that you should invest today with the expectation that the price will rise in the next month or year; rather, bitcoin should be considered a long-term investment.

The newbie should understand that bitcoin is an investment in which the investor must be patient. Patient is an important factor when holding bitcoin because some newbies are not patient when they see the price of bitcoin falling, some will decide to sell because they do not want to lose their money; if you are not patient, you can not to hold bitcoin for an long period of time. These are some of the things a newbie should know before investing in bitcoin.

You are talking about a mindset that you believe that a newbie bitcoiner needs to have before investing into bitcoin, and there may well be a lot of folks who are not sure about if they are an investor or a trader, and there also might be folks who are not sure about how long they want to get into bitcoin, so are you saying that these guys cannot get started buying bitcoin, unless they have answers (and a vision) in regards to the important prerequisite topics that you presented?

Don't get me wrong. I am not opposed to some of your ideas, yet I question the extent to which normie newbies need to have the qualities that you suggest prior to their getting started buying bitcoin, and cannot they just adjust their beginning position size to be smaller if they don't have all of the qualities that you consider to be required prior to their getting started buying bitcoin?

And you seem to also be suggesting that a normie newbie needs to start out by figuring out how to use a wallet prior to buying any bitcoin? And, they have to learn about scams too? How long is that training going to take? Do you have a mini-course that you are providing for normie newbies?

Quote from: Lidger on September 24, 2025, 07:04:02 PM

Quote from: Cgrexp on September 24, 2025, 09:56:33 AM

[edited out]

If an investor plans to invest and his favorite coin is Bitcoin,

Oh my..

favorite coin? bitcoin?

Quote from: Lidger on September 24, 2025, 07:04:02 PM

then I think he should not delay investing in Bitcoin if he has the ability, but should continue investing in Bitcoin as soon as possible.

That sounds good.

Quote from: Lidger on September 24, 2025, 07:04:02 PM

Many people say that before investing in Bitcoin, investors should definitely know about investing in Bitcoin, understand the market, observe the chart well, or try to understand the momentum of the candles. I think those who trade will understand these things well, but an investor does not really need to know so much. If an investor has the basic concepts of investment, he can start his investment journey and step by step he will be able to learn about all those things when he needs to know about the investment. I think that at this time, if we do not invest in Bitcoin even after knowing about Bitcoin, it will be foolish for us and we will regret this foolishness a lot in the future.

The normie newbie doesn't need to know anything in order to start investing into bitcoin, then?

Quote from: ManOfSteel2412 on September 24, 2025, 07:22:36 PM

As a beginner the first objective should be creation of a stable/consistent stream of income, the second should be acquiring a good knowledge about investments as one cannot know/have all the knowledge about investments, the 3rd is to get acquainted with the risks involved and how to minimise losses because losses are inevitable but can be minimized and finally is to take the bold step and invest, utilizing your knowledge on investment.

This is pretty vague.

Maybe an example would be helpful.

Quote from: Dogedegen on September 24, 2025, 10:18:39 PM

I propose an alternative. Definitely don't do Sell Buy Sell, but you can do Buy Sell Buy.

I wonder how many users will understand what this means. Cheesy

What you are suggesting has a trading sound to it, yet I suppose timeline might make a difference in terms of figuring out how to interpret your puzzle.

My own idea is buy and continue to buy until reaching overaccumulation status then you are able to sell, within your overaccumulated amount, yet you would not be selling with intentions to buy back cheaper, yet if the price dropped cheaper, you would have the option to use some of the funds generated from the sale to buy back.

As already mentioned, you cannot sell unless you bought first, and personally I recommend that newbies build up their bitcoin stash through ongoing buying, so they would not be selling perhaps in the first several years in being in bitcoin unless it is just sell and replace... so in their beginning years in bitcoin - perhaps a whole cycle or longer, they would ONLY be buying and building the bitcoin stash and hopefully ongoingly studying bitcoin and their personal finances so that they can figure out what they are going to do next after they built enough bitcoin or even in the process of trying to figure out how many bitcoin is enough or more than enough.. which they might not even be able to reach in the first cycle or two, unless they are able to employ a somewhat aggressive bitcoin accumulation strategy (that only involves buying).