JJG’s Outline of Bitcoin Investment Ideas

[JayJuanGee]

[edited out]

There is no end to knowledge, especially in the case of Bitcoin, the more a person searches, the more the scope of knowledge will continue to increase. But to start investing in Bitcoin, there is no need to expand the scope of knowledge too much. Extend the scope of knowledge to the extent that with the knowledge, you can purchase Bitcoins on your own and store them safely in a good decentralized wallet.

Learning how to privately store your bitcoin is not part of basic knowledge that you need to get started investing in bitcoin.

That is, I am definitely talking about basic knowledge, where the knowledge of how to buy Bitcoins on an exchange and how to open and store a decentralized wallet is basically basic knowledge.

Learning how to privately store your bitcoin is not part of basic knowledge that you need to get started investing in bitcoin. Why do you keep repeating something that is not true?

This scope of knowledge may be enough to start investing. Since your investment fund will not be very valuable in the beginning, you should not delay investing by worrying about security or risk management before investing. If you have a source of discreet income or money, start your journey in investing as soon as possible.

Here you seem to explain that in the beginning  your investment might not be very much, so you have already provided the justification why learning a private wallet is not needed before getting started.

Think about it.  There may be some guys that start out investing into bitcoin with $100 per week and others who begin with $10 per week and various other scenarios in which it might take them weeks or months to even get to an investment size that is $500 or greater.

For sure the threshold upon which a private wallet might be necessary for any particular person is going to differ with people and there likely is no objective standard in regards to those kinds of choices, including the choice to actually hold bitcoin privately versus holding the BTC with third parties or some other arrangement in which the private keys are not held.

Surely many of us recognize and appreciate that if you are not holding your own keys, then there are all kinds of ways that you are not using real bitcoin and you are not getting the benefits and empowerment of real bitcoin, and you are also not necessarily supporting what brings value to bitcoin - yet at the same time, you do not have to buy actual bitcoin in order to get started with bitcoin and to get price exposure to bitcoin. 

Certainly, it is important to learn the difference between holding actual bitcoin and merely getting exposure to bitcoin, yet those ideas and practices do not need to be learned prior to getting started investing in bitcoin - even if the investment is into an inferior product and even if many of us know that holding coins on exchanges gives a lot less assurances that you actually own the bitcoin that you believe that you own.

I don't know the actual threshold in which a person needs to hold his own bitcoin, since those are individual considerations, and I agree with you that holding your own bitcoin should be an aspiration of everyone - yet at the same time, we need to be realistic in terms of some folks not being able to advance to the level of owning their own bitcoin, so it seems to me that everyone and anyone can still participate in bitcoin, even if some folks would be choosing to hold an inferior asset and holding an inferior claim to bitcoin..

I agree that people who do not have their own private bitcoin keys are not holding real bitcoin and they should understand that angle in regards to the exposure that they might have to bitcoin, in the event that they even understand the difference in the beginning stages of their bitcoin investment journey, yet at the same time, there are some beginners to bitcoin that have to work up to higher and higher levels of bitcoin ownership (and/or price exposure), and they don't need to reach the highest levels of self-sovereignty in regards to their bitcoin ownership/exposure before getting started investing in bitcoin.  Some folks might start out with buying bitcoin through some third party app. .and for sure that is not bitcoin, yet they are getting started and they are getting used to the bitcoin idea.  There is an expression that involves attempting to come to people from where they are at rather than overly imposing our own ideas upon them in a way that will not facilitate their moving towards and/or getting into bitcoin.

[Joy- maker]

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure. Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment. And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

buddy you can invest aggressively in Bitcoin provided you're doing it within your discretionary income, and secondly it's not advisable to invest all your money in Bitcoin, only invest your leftover money consistently through DCA method in Bitcoin after you most have settled your basic needs and expenses either for the week or for the month, and ensure you build an emergency fund and back up fund just in case emergencies arises on the long run, so that there will be emergency fund and back fund to handle to emergencies, to avoid selling off your Bitcoin investment or part of your Bitcoin investment at early stage of accumulation.

[bangjoe]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If you think logically learning bitcoin should also not take long, first read the white paper, then read the history and after that see the overall price movement and the last is to read the purchase strategy and also how to store bitcoin safely, that's enough, it won't take days.

The safest investment strategy for beginners or experienced is DCA with long-term goals and how to store bitcoin to be safe is in a wallet that is only controlled by ourselves without third parties, that alone is enough as a basis for investing in bitcoin, people who are looking for reasons they are lazy to learn and do not want to read.

[ultrloa]

Good Question buddy. If you don't have a source of income or a stable job, what is needed to invest with is a Discretional fund, after then you can start searching for a stable job to enable you produce streams of discretional incomes to buy Bitcoin consistent.
It isn't mandatory to create an Emergency fund before investing in Bitcoin,it can come after. What's more important is to start, know how to figure out your discretional incomes regularly to buy Bitcoin consistently, every other thing can come later.

However, you should not invest aggressively in Bitcoin, otherwise you may face danger. If you invest all your money in Bitcoin, then if you do not have enough money to protect your Bitcoin investment from danger, your investment will be under pressure. Therefore, an emergency fund is definitely needed to protect you from the danger of Bitcoin investment. And to add more money to your Bitcoin investment, you must stop the extra expenses you have weekly. And you can invest that wasted money in Bitcoin, such as the amount of your smoking, drinking alcohol, etc. If you can save $ 10 from here monthly or weekly and add $ 10 to your Bitcoin investment, then of course you will make this investment more effective.
However, if you do not waste the money and add it to your Bitcoin investment correctly, if you can keep it for a long time according to your Bitcoin investment plan, you will definitely be able to save the maximum amount.

Buying Bitcoin aggressively is never a bad idea. When a person buys aggressively without considering his financial situation, it is bad. But when a person buys aggressively based on his financial situation, it is not bad.

A person can invest wisely based on his financial situation. For example, if a person has a discretionary income of $50, if he does not have an emergency fund, he can invest $25 from here and keep $15 for emergency fund and keep the remaining $10 as extra expenses. If he does not have extra expenses, then when he invests next month, he can invest the extra $10 with his investment. He can invest the same way the next month. Thus, $35 is being invested wisely.

A person should divide his funds into three parts. Such as emergency fund, reserve fund, cash. If a person builds the funds in this way, it will be very good for him. Because when any kind of small financial crisis arises then he can take money from cash to deal with the crisis. If he is unable to deal with the financial crisis with cash then he can use the reserve fund and if that is not possible then he can use the emergency fund. If a person builds his funds in this way then it will be very good for him.

Yes, you are right, aggressive investing should not be done without a fixed income or emergency fund. If an investor still invests aggressively, then his investment will not be long-term. However, if I add one more point to your comment, I think it may be acceptable to everyone. Suppose I have a permanent job where I get a good salary at the end of the month and I have enough money left at the end of each month, since I can see that I have a good amount of money left every month, then if I invest aggressively, it will not be bad because I have financial support. The main thing is that our income will depend on our investment. Another important factor in investment is time, if the investor invests for five to six years and during this time if his money is in reserve, then investing consistently will not be a major problem for the investor. Aggressive investment can go against us when we cannot plan properly or we do not have a good amount of financial support.

They will not going to be reckless in that sense especially if they are backed with disciplined planning and have stable income. Their permanent job and surplus income will provably provide them a cushion and if they consider to re invest maybe for 4 - 10 years it can compound and possible give them great results.

Planning everything is important and they should not go as aggressive if they don't have plans set. Since it will lead to failures and won't succeed in long run especially if they mismanage everything. Having financial support is good life line and provably that people can go aggressive especially if the amount they used is they are capable to let go. Aggressive will truly work with proper planning, It will only go against us especially if we have poor planning and only think about profit to get without considering the risk and on where we can get money to re invest again.

[Futurexxx]

buddy you can invest aggressively in Bitcoin provided you're doing it within your discretionary income, and secondly it's not advisable to invest all your money in Bitcoin, only invest your leftover money consistently through DCA method in Bitcoin after you most have settled your basic needs and expenses either for the week or for the month, and ensure you build an emergency fund and back up fund just in case emergencies arises on the long run, so that there will be emergency fund and back fund to handle to emergencies, to avoid selling off your Bitcoin investment or part of your Bitcoin investment at early stage of accumulation.

What you said here are true, buying and accumulating Bitcoin aggressively is not a bad thing, it's a good practice that helps you to build a good stash of Bitcoin faster, but it must be done within our discretionary income as you have said earlier.

Another problem most Bitcoin investors have is that they tend to invest like 95-100% of their discretionary income, thinking that it's the right thing to do just because they already have an emergency and reserve funds in place, not knowing that by going too aggressive like that, the financial burden will set in and the investment will be much stressful instead of it being less stressful.
So what am trying to say is that investor should only invest like 50-60% of their discretionary income, so as to have more leverage and freedom while investing, not in an aggressive manner whereby any wrong financial move will be costly.

[JayJuanGee]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If you think logically learning bitcoin should also not take long, first read the white paper, then read the history and after that see the overall price movement and the last is to read the purchase strategy and also how to store bitcoin safely, that's enough, it won't take days.

The safest investment strategy for beginners or experienced is DCA with long-term goals and how to store bitcoin to be safe is in a wallet that is only controlled by ourselves without third parties, that alone is enough as a basis for investing in bitcoin, people who are looking for reasons they are lazy to learn and do not want to read.

You cannot assume what a person needs to learn or how much time, energy, abilities and/or willingness to learn certain topics related to bitcoin, even if you might consider some of the matters basic, and self custody is not necessarily basic, and some people might have little clues what the white paper is talking about... even though aspects of the whitepaper are somewhat in reach.

Self custody is another matter that some folks might not want to or be able to learn right away, and sure there are trade-offs in regards to the benefits of self-custody rather than having coins with third party custodians, including a lack of confidence that many of us would have in regards to the custodians actually having enough coins to back up the claims to coins... yet a person starting out with $50 might need to get used to other aspects in regards to their own budgetary matters and cashflow management in order to figure out if they are getting into bitcoin for investing rather than trading - since some folks might not even know the difference between investing and trading.

[Tungbulu]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If you think logically learning bitcoin should also not take long, first read the white paper, then read the history and after that see the overall price movement and the last is to read the purchase strategy and also how to store bitcoin safely, that's enough, it won't take days.

The safest investment strategy for beginners or experienced is DCA with long-term goals and how to store bitcoin to be safe is in a wallet that is only controlled by ourselves without third parties, that alone is enough as a basis for investing in bitcoin, people who are looking for reasons they are lazy to learn and do not want to read.

You cannot assume what a person needs to learn or how much time, energy, abilities and/or willingness to learn certain topics related to bitcoin, even if you might consider some of the matters basic, and self custody is not necessarily basic, and some people might have little clues what the white paper is talking about... even though aspects of the whitepaper are somewhat in reach.

Self custody is another matter that some folks might not want to or be able to learn right away, and sure there are trade-offs in regards to the benefits of self-custody rather than having coins with third party custodians, including a lack of confidence that many of us would have in regards to the custodians actually having enough coins to back up the claims to coins... yet a person starting out with $50 might need to get used to other aspects in regards to their own budgetary matters and cashflow management in order to figure out if they are getting into bitcoin for investing rather than trading - since some folks might not even know the difference between investing and trading.

I completely agree with you. Most people often underestimate the fact that everyone has their own different learning paces, their background and their priorities when it comes investing in Bitcoin. It’s a lot more easier for those who have already been around the space for quite some time to  things like self custody, understanding the white paper or understanding the difference between investing and trading are basic knowledge, but that doesn’t mean that it’s pretty much the same for every other person because for many others, that’s far from reality.

Let’s take self custody for example, it kinda sounds pretty simple on paper, people be like, just hold your own keys. But when it comes to reality, for newbies, you’ll notice that it can be kinda intimidating., and this because understanding self custody requires some level of technical comfort and responsibility and not everyone has such level from the start. And inasmuch as self custody is pretty important for every long term investor, the truth still remains that not everyone needs to delve into it immediately, some folks need some time to first of all get comfortable with the concepts of Bitcoin itself, understand the risks and rewards of a custodian, learn and understand how exchange works, and then finally, they’ll gradually build the confidence of taking full control and ownership of their funds.

Another point that you mentioned above that I feel is worth noting is budgetary awareness. When someone decides to start their investment with $50, they’re not only dealing with Bitcoin,  they’re also managing their broader financial situation. Learning and understanding how Bitcoin fits into their personal financial goals, whether they are long term investors or just a short term trader should be prior to worrying about cold storage or understanding how hardware wallet works. The main take away from this is that Bitcoin education is pretty broad and should be approached realistically and also gradually. Everyone has their own individual goals and entry points, and no one investor should be underrated simply because they don’t really understand the deeper aspects of Bitcoin yet.

[BigBos]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If we delay investing, we will always delay investing because I'm sure there will always be a reason to delay. I say this because I've personally experienced it myself, where every time I procrastinate, I always have an excuse to buy and accumulate Bitcoin. Whether it's for necessity or waiting for a decline, or whatever.

When we're financially prepared, it's best to invest as soon as possible. Once we buy, we become addicted to increasing our portfolio. The impact is that our brains will constantly be focused on earning additional income to increase our investments.

[MrNata]

buddy you can invest aggressively in Bitcoin provided you're doing it within your discretionary income, and secondly it's not advisable to invest all your money in Bitcoin, only invest your leftover money consistently through DCA method in Bitcoin after you most have settled your basic needs and expenses either for the week or for the month, and ensure you build an emergency fund and back up fund just in case emergencies arises on the long run, so that there will be emergency fund and back fund to handle to emergencies, to avoid selling off your Bitcoin investment or part of your Bitcoin investment at early stage of accumulation.

What you said here are true, buying and accumulating Bitcoin aggressively is not a bad thing, it's a good practice that helps you to build a good stash of Bitcoin faster, but it must be done within our discretionary income as you have said earlier.

Another problem most Bitcoin investors have is that they tend to invest like 95-100% of their discretionary income, thinking that it's the right thing to do just because they already have an emergency and reserve funds in place, not knowing that by going too aggressive like that, the financial burden will set in and the investment will be much stressful instead of it being less stressful.
So what am trying to say is that investor should only invest like 50-60% of their discretionary income, so as to have more leverage and freedom while investing, not in an aggressive manner whereby any wrong financial move will be costly.

It is important to maintain a balance in investment, but it is also important to invest with discipline. Investment is not like starting and selling after a few days, rather, by investing we mean continuously increasing the investment and holding it for a long time.

There is a lot of difference between a 100-meter race and a 1600-meter race, the faster you run in a 100-meter race, the faster you will reach the goal, but in a 1600-meter race you have to have a good breath, have a winning strategy and run slowly but cross the finish line. Investment is like a 1600-meter race, here you cannot be in a hurry, but you have to move forward in a certain step by step.

Now the matter is that we invested in Bitcoin with excessive aggression and the market suffered a little, then we got excited and sold our investment at a loss, so has the real purpose of investment been fulfilled? Those who invest in the DCA strategy are not mainly emotional, but they can make cold-headed decisions and they only focus on holding their investment for a long time.

Why not long-term Bitcoin investment, of course it will be. If that person has a good discretionary income, then he will definitely be able to proceed with his Bitcoin investment as planned and will be able to invest in Bitcoin in a more long-term way in the future.

Yes, I tried to explain this in my previous post that if an investor has a good income and has a good amount of money left over every month, then he can invest aggressively.

[Dreadboost]

So, it's not necessary to invest 100% of your funds immediately, as long as we still purchase all our living expenses ourselves. This means that each person can use half of their income for investments, while the other half should be allocated to their needs and also to build a stronger emergency fund. When entering this kind of situation, financial management knowledge will certainly be essential for anyone. Building an emergency fund from $0 isn't a barrier to not investing. Instead, everyone can invest directly while slowly growing their emergency fund, so that time isn't completely wasted on building one thing.

Brother using half of your income for investment is not financial management, it is advisable that money meant for investment is discretionary funds, and not half of your income,

in a situation where one earns 100k you don't expect him to use 50k for investment it is no wise, you should rather get all your necessary needs settled, pay all the bills, and the money left after wards is considered our discretionary funds. now this funds that can be slitted into two one for savings in fiat the other for your investment, you save in fiat for emergency funds in Oder to secure your investment, incase or circumstances warrant immediate money, this is the risk management needed for bitcoin investment.

[Gost ms]

I'm actually wondering,

Does always keeping a lot of cash on hand mean feeling safe?

Of course, a reserve fund, an emergency fund, is necessary. But keeping a lot of cash in multiple funds makes me a little worried. I'm not saying against you, because you've made a very reasonable point! In fact, I want to be clear about the whole issue. Because the current economic situation is very bad, if you keep cash in hand for a long time, it gradually loses its purchasing power due to inflation. So, although it seems safe to keep a lot of cash on hand, it invisibly erodes our money. So, compared to keeping a lot of cash on hand, I think investing in Bitcoin will be better for me. This will improve the portfolio. Again, if there is no emergency fund, reserve fund, the investment will be at risk. If you consider both sides, the best way is to maintain balance. So that you can protect yourself from risk in the short term. And also take advantage of the growth of Bitcoin in the long term.

Why keeping alot of cash with you when you can invest it in bitcoin. Bitcoin increases in value and if you invest in it so will your money too. Altough you should also keep money aside incase of emergency, so you do not have to sale your bitcoin because of that situation, it is very advisable to split your discretionary income in two one part for investment the other part for saving money in fiat for emergency.

If it is done like this any emergency that comes up you know you have money kept aside for it, that is why they call it EMERGENCY FUNDS, in a long run if no emergency comes up your emergency savings would have gotten to a good amount you can still split it to get some cool things done for your self, like having fun or shopping , but the most important thing is to have an emergency saving.

You are misunderstanding the idea of ​​creating an emergency fund. Because an emergency fund should be three times your income or three times your monthly expenses. It is not something that you have to set aside money for an emergency fund as long as you invest. You should never have fun or shop with an emergency fund. It will be very good for you to create your funds through proper financial management.

If you want, you can divide your funds into three levels. Such as emergency fund, reserve fund, cash. If you divide your funds into three levels, then you will not have to face much difficulty in dealing with financial crises. If you depend only on emergency fund, then if you see any major financial crisis, then if you cannot deal with it with emergency fund, you may have to sell your holdings. So it will be very good to divide your funds into three levels.

[CageMabok]

...

Brother using half of your income for investment is not financial management, it is advisable that money meant for investment is discretionary funds, and not half of your income,

in a situation where one earns 100k you don't expect him to use 50k for investment it is no wise, you should rather get all your necessary needs settled, pay all the bills, and the money left after wards is considered our discretionary funds. now this funds that can be slitted into two one for savings in fiat the other for your investment, you save in fiat for emergency funds in Oder to secure your investment, incase or circumstances warrant immediate money, this is the risk management needed for bitcoin investment.

I completely understand what you're saying, but if your income is too small and only enough for daily needs and monthly bills, I also don't recommend investing because overexerting yourself will ultimately lead to difficulties, both in maintaining your investments and in staying hungry every day. Now let's look at another example with a slightly larger income than the one you mentioned, for example, $1,000 a week, and half of that can be immediately used for investments without worrying about future problems. For me, $500 covers all my living expenses and can even be saved as an emergency fund, even if it's only 2% of that $500.

This means that anyone who wants to become a long-term investor by holding Bitcoin is strongly advised to increase their income stream first to implement the risk management you mentioned. I've also practiced this type of management in the past when I was trying to increase my regular monthly income. But over time, I've been able to cut half of my income for investments because the other half is sufficient for my own routine needs. This is why we must distinguish between investors who have invested for a long time and those who are just starting out with small capital or capital from what's called discretionary money.

[JayJuanGee]

[edited out]

Let’s take self custody for example, it kinda sounds pretty simple on paper, people be like, just hold your own keys. But when it comes to reality, for newbies, you’ll notice that it can be kinda intimidating., and this because understanding self custody requires some level of technical comfort and responsibility and not everyone has such level from the start. And inasmuch as self custody is pretty important for every long term investor, the truth still remains that not everyone needs to delve into it immediately, some folks need some time to first of all get comfortable with the concepts of Bitcoin itself, understand the risks and rewards of a custodian, learn and understand how exchange works, and then finally, they’ll gradually build the confidence of taking full control and ownership of their funds.

There are so many people that will be challenged in the "holding your own keys" department, and it is not ONLY technical knowledge - even though technical knowledge is part of it.  There are also some creativity and strategic aspects that relate to recovery and/or passing down to heirs, and not even the most sophisticated of bitcoiners have gotten all of the answers in regards to the various tradeoffs to either prevent screwing up in the recovery arena or perhaps making the recovery system too easy in that some person ends up getting the keys prior to the death, disability, incapacitation and/or otherwise event that would consensually trigger the passing of the keys.  Another problem is the creation of systems that might be more complicated than necessary and then end up locking the original owner out of his own coins contributing to lost coins forever and a donating of the coins to all the other bitcoiners who had not lost their coins by making remaining coins more valuable.  

Another aspect is moving the coins perhaps to third parties for sales or potentially trying to liquidate through private transactions, and do we have enough of a bitcoin decentralized economy so that private transactions can be easily carried out peer to peer to match buyers and sellers?

There is a considerable difference if a person might be privately holding 10-20% or even less of his overall networth in bitcoin as compared to someone who might be holding an overwhelming majority of his networth in bitcoin, and even size of the networth that might be thousands of dollars versus millions of dollars, and some folks might be young with a lot of future employment (and income earning capabilities) versus someone who might not so easily be able to earn income beyond what they had already earned in their life and compounded in value through many years or many decades.

Of course, we could concede that no one would start out his self-custody journey by putting large portions of his wealth into a system that he does not yet understand, yet it still seems to me that the guys proclaiming to learn self-custody first (and proclaiming it is easy-peasy), they are presuming a kind of level of competence that is a bit detached from reality and perhaps based on their own knowledge, abilities and interests... .yet people still have to dedicate time to making sure that they understand the concept of self-custody and various ramifications and even being persuaded that self-custody has a lot of advantages over third-party custody arrangement.

Ultimately, even if we can recognize and appreciate a lot of values and benefits that would likely accrue to both individuals and bitcoin's ecosystem by increasing the prevalence of self custody, at the same time, it should not be so difficult to recognize that self-custody has quite a variety of potential complications that might be so easily worked through, which also depends on a variety of the circumstances of individuals. .and so then maybe we could proclaim that everyone should aspire to some level of self-custody, yet there still would be questions regarding at what point of their bitcoin investment journey would self-custody be learned and/or practiced, and I surely consider proclaiming self-custody as something to learn before getting started in bitcoin to be an unnecessary delay in regards to the importance of everyone and anyone (as long as they have discretionary funds) getting started investing in bitcoin as soon as possible.. for their own good... .

Another point that you mentioned above that I feel is worth noting is budgetary awareness. When someone decides to start their investment with $50, they’re not only dealing with Bitcoin,  they’re also managing their broader financial situation. Learning and understanding how Bitcoin fits into their personal financial goals, whether they are long term investors or just a short term trader should be prior to worrying about cold storage or understanding how hardware wallet works. The main take away from this is that Bitcoin education is pretty broad and should be approached realistically and also gradually. Everyone has their own individual goals and entry points, and no one investor should be underrated simply because they don’t really understand the deeper aspects of Bitcoin yet.

It is likely the case that an overwhelming majority of normal people have some budgetary practices before they come to bitcoin at least figuring out if they have enough money coming in to cover their expenses.  Some normies are better and more organized than others in regards to their budgeting practices, and on the flip-side, some normies are nearly a pure disaster in the way that they handle their budget.  When coming to bitcoin the organized will be better off and better able to adapt, yet each person will start from the place that he is at and hopefully be able to figure out the extent to which he has discretionary funds to get started and then hopefully figure out the extent to which future cashflows allow him to continue to invest into bitcoin.  

So then once a person comes to bitcoin and perhaps starts to develop an investment timeline that is 4-10 years or greater, logically, there should develop a bit of a priority to protect such bitcoin investment from getting tapped into before the investment timeline has been able to run its course. and yeah, it can take time to both figure out that protecting the bitcoin is a priority and also put bitcoin portfolio protection practices into place and to reinforce them on a regular basis whether weekly, monthly or however a person might be managing, building and/or reviewing his investments and cashflow management systems/practices.

[edited out]

If we delay investing, we will always delay investing because I'm sure there will always be a reason to delay. I say this because I've personally experienced it myself, where every time I procrastinate, I always have an excuse to buy and accumulate Bitcoin. Whether it's for necessity or waiting for a decline, or whatever.

When we're financially prepared, it's best to invest as soon as possible. Once we buy, we become addicted to increasing our portfolio. The impact is that our brains will constantly be focused on earning additional income to increase our investments.

It is likely the case that whenever anyone starts a new activity, whether investing into bitcoin or any other new activity that they begin, it can take some time to figure it out and then take the time to putting systems in place, which is part of the reason that several of us likely continue to proclaim that getting started remains one of the most important things in bitcoin, since even if a person might not start aggressively, if he at least has put some of the systems in place (even if he might ONLY be buying small amounts of bitcoin and even buying bitcoin irregularly), at east he would be in a better place to have the option to expand upon his already started bitcoin investing system, as contrasted with those circumstances in which he has not done any of the leg work, besides just "thinking about" getting into bitcoin as a potentially good idea.  

It can be difficult for any newbie to dedicate some time to "looking into" bitcoin, so that getting started in bitcoin gets put into their systems and activities rather than just being something that they are thinking about getting into but not acting in order to actually add bitcoin to their activities and/or their routine.

[bitzizzix]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If we delay investing, we will always delay investing because I'm sure there will always be a reason to delay. I say this because I've personally experienced it myself, where every time I procrastinate, I always have an excuse to buy and accumulate Bitcoin. Whether it's for necessity or waiting for a decline, or whatever.

When we're financially prepared, it's best to invest as soon as possible. Once we buy, we become addicted to increasing our portfolio. The impact is that our brains will constantly be focused on earning additional income to increase our investments.

If you understand Bitcoin's long-term potential, don't delay, as its value tends to rise over the long term. If you wait or delay, you could miss out on significant growth that can occur whenever you have money or receive a weekly or monthly income. Aim to buy regularly, and don't pressure yourself into buying large amounts. Instead of delaying, it's better to buy within your means, even if only in small amounts, after prioritizing your basic needs and observing its potential over time. This will motivate you to increase your purchases and encourage you to increase your income in any way you can to increase your regular purchases, so you can generate substantial profits in the long run.

[Popkon6]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If we delay investing, we will always delay investing because I'm sure there will always be a reason to delay. I say this because I've personally experienced it myself, where every time I procrastinate, I always have an excuse to buy and accumulate Bitcoin. Whether it's for necessity or waiting for a decline, or whatever.

When we're financially prepared, it's best to invest as soon as possible. Once we buy, we become addicted to increasing our portfolio. The impact is that our brains will constantly be focused on earning additional income to increase our investments.

If you understand Bitcoin's long-term potential, don't delay, as its value tends to rise over the long term. If you wait or delay, you could miss out on significant growth that can occur whenever you have money or receive a weekly or monthly income. Aim to buy regularly, and don't pressure yourself into buying large amounts. Instead of delaying, it's better to buy within your means, even if only in small amounts, after prioritizing your basic needs and observing its potential over time. This will motivate you to increase your purchases and encourage you to increase your income in any way you can to increase your regular purchases, so you can generate substantial profits in the long run.

If you have good discretionary income, then you should definitely pay more attention to buying Bitcoin. Because according to the DCA method, you should continue the DCA method in the long term until you accumulate one Bitcoin. At present, only those who have a good income source and the ability to take more risk can buy Bitcoin aggressively. If you notice, you can definitely see that there is a huge demand for Bitcoin at the present time, as a result, the donation of Bitcoin is gradually increasing and moving forward more strongly. However, if you invest in Bitcoin according to the DCA method, it is definitely possible to get the highest profit, a huge saving on the purchase price.

[JayJuanGee]

[edited out]

Because according to the DCA method, you should continue the DCA method in the long term until you accumulate one Bitcoin.

In the abstract, I fail to understand why you are proclaiming some kind of a need for anyone to shoot for the accumulation of 1 bitcoin.  That is retarded to presume that we know enough about another person's situation in order to set that kind of a bitcoin accumulation target for them, and I hear other people talking about achieving 1 bitcoin, which truly has fallen out of reach for a lot of normies in the past few years, even though there still are some folks who could reach such goal of reaching 1 BTC, yet even a person who might be investing $300 per week, may well struggle to reach 1 BTC within 10-ish years (of course depending on how bitcoin's price does in the coming years). A person investing $300 per week would have had invested right around $15,600 after 1 year, and therefore would have had invested $156k after 10 years, and I have my doubts that the BTC price is going to have an average price of $156k, especially spread over the next 10 years...

Maybe if $156k were to be spread into investing into bitcoin over 10 years, that might get someone up to around 0.5 BTC accumulated?  I am not saying that I know with any level of certainty, yet I am saying that 1 BTC is getting quite out of reach for an overwhelming majority of normies unless such normies are able to really focus on accumulating bitcoin and they have sufficient discretionary income (or other investments) to attempt to front load decent quantities of value into bitcoin in the coming years.

[bitmover]

[edited out]

Because according to the DCA method, you should continue the DCA method in the long term until you accumulate one Bitcoin.

In the abstract, I fail to understand why you are proclaiming some kind of a need for anyone to shoot for the accumulation of 1 bitcoin.  That is retarded to presume that we know enough about another person's situation in order to set that kind of a bitcoin accumulation target for them, and I hear other people talking about achieving 1 bitcoin, which truly has fallen out of reach for a lot of normies in the past few years, even though there still are some folks who could reach such goal of reaching 1 BTC, yet even a person who might be investing $300 per week, may well struggle to reach 1 BTC within 10-ish years (of course depending on how bitcoin's price does in the coming years). A person investing $300 per week would have had invested right around $15,600 after 1 year, and therefore would have had invested $156k after 10 years, and I have my doubts that the BTC price is going to have an average price of $156k, especially spread over the next 10 years...

I think that now is a good time to be aggressive if the person is accumulating BTC. Better to just DCA would be to make heavy investments when we see a bloodbath like we are seeing this week.

Maybe even using some strategy similar to the withdrawal strategy (considering the 200WMA price) but as the opposite. Even using some advanced month to anticipate some buys...

[BigBos]

If we delay investing, we will always delay investing because I'm sure there will always be a reason to delay. I say this because I've personally experienced it myself, where every time I procrastinate, I always have an excuse to buy and accumulate Bitcoin. Whether it's for necessity or waiting for a decline, or whatever.

When we're financially prepared, it's best to invest as soon as possible. Once we buy, we become addicted to increasing our portfolio. The impact is that our brains will constantly be focused on earning additional income to increase our investments.

It is likely the case that whenever anyone starts a new activity, whether investing into bitcoin or any other new activity that they begin, it can take some time to figure it out and then take the time to putting systems in place, which is part of the reason that several of us likely continue to proclaim that getting started remains one of the most important things in bitcoin, since even if a person might not start aggressively, if he at least has put some of the systems in place (even if he might ONLY be buying small amounts of bitcoin and even buying bitcoin irregularly), at east he would be in a better place to have the option to expand upon his already started bitcoin investing system, as contrasted with those circumstances in which he has not done any of the leg work, besides just "thinking about" getting into bitcoin as a potentially good idea.  

It can be difficult for any newbie to dedicate some time to "looking into" bitcoin, so that getting started in bitcoin gets put into their systems and activities rather than just being something that they are thinking about getting into but not acting in order to actually add bitcoin to their activities and/or their routine.

Yes, beginners won't immediately be aggressive in investing their money in Bitcoin. They'll likely adapt first while learning to understand Bitcoin investment. However, once they find a niche, meaning they see Bitcoin's immense potential, their confidence will skyrocket.

Furthermore, they'll likely need to get used to it first, as allocating their money to Bitcoin might feel a little uncomfortable, as they'll have to sacrifice something, such as cutting back on social activities or other activities. However, my experience suggests it's only a matter of time.

[JayJuanGee]

[edited out]

Because according to the DCA method, you should continue the DCA method in the long term until you accumulate one Bitcoin.

In the abstract, I fail to understand why you are proclaiming some kind of a need for anyone to shoot for the accumulation of 1 bitcoin.  That is retarded to presume that we know enough about another person's situation in order to set that kind of a bitcoin accumulation target for them, and I hear other people talking about achieving 1 bitcoin, which truly has fallen out of reach for a lot of normies in the past few years, even though there still are some folks who could reach such goal of reaching 1 BTC, yet even a person who might be investing $300 per week, may well struggle to reach 1 BTC within 10-ish years (of course depending on how bitcoin's price does in the coming years). A person investing $300 per week would have had invested right around $15,600 after 1 year, and therefore would have had invested $156k after 10 years, and I have my doubts that the BTC price is going to have an average price of $156k, especially spread over the next 10 years...

I think that now is a good time to be aggressive if the person is accumulating BTC. Better to just DCA would be to make heavy investments when we see a bloodbath like we are seeing this week.

Maybe even using some strategy similar to the withdrawal strategy (considering the 200WMA price) but as the opposite. Even using some advanced month to anticipate some buys...

I understand what you are saying in terms of trying to structure buys to be more aggressive when the BTC price is closer to the 200-WMA and less aggressive when it is further away from the 200-WMA, yet tentatively, I believe that trying to strategize buys ends up lessening a persons aggressiveness in buying and ends up employing too much waiting and not enough persistent, consistent, regular and ongoing buying.

I frequently suggest that guys should attempt to buy bitcoin as aggressively as they are able to do without overdoing it.. so in that way they would not authorize themselves to sell any bitcoin (and/or to trade) until reaching their overaccumulation stage.

Part of the problem with what you are saying is that it becomes difficult to create a set an objective standard for how aggressive or how whimpy a guy should be in his bitcoin buying, and we cannot know bitcoin's price in advance, and one of the ONLY things that we tentatively know about bitcoin is that it is designed to pump forever... so in that regard, we are better to get as much as we can as early as we are able to do so without holding back or slowing down because we believe the BTC price may or may not have a future dip. 

Accordingly, from my point of view, it seems better to error on the side of paying more per BTC and getting in earlier rather than later rather than trying to strategize  buys, including trying to strategizing for buying on dips, which I think that trying to buy on dips ultimately puts guys into a less aggressive (and a more whiimpy) mindset.

Of course, once a person accumulates enough (or more than enough) then he no longer needs to worry about buying any more BTC so long as he sells within the limitations that keep him from falling out of overaccumulation status.

If a guy is feeling that he still needs to buy bitcoin then he should be doing it all of the time and regularly, yet I am not against structurally holding back some money for buying dips while recognizing that the dips may or may not end up happening, so then in that sense any money that is coming in that gets authorized for BTC buys, then perhaps 80% or more will just buy right away, and perhaps no more than 20% would be allowed to hold back for dips that may or may not happen... and if the BTC price keeps going up and no dip happens, then the 20% (each week or month) would keep piling up.. so there might be an itch to use it for buying at some point, yet the dip is not happening.

[Cossyblack]

Gaining knowledge is important but Getting started is what counts.The little knowledge he has gathered can be put into practice by figuring out his Discretional income to begin his Bitcoin investment. Knowledge about Bitcoin doesn't end,if the person continues seeking more,he may endup not investing at all. I think starting at once without further delay is the appropriate thing to do, further knowledge can wait but not Bitcoin because Bitcoin doesn't wait for anybody. If he has a Discretional income,he can begin his investment,an additional plus if has a stable source of income to support his Bitcoin accumulation for atleast,two Bitcoin cycles.

Your advice is worth considering for beginners who already have a taste or desire to invest in Bitcoin. Delaying for any reason that could prolong the investment period is also not good for beginners, so taking a decisive action is the right choice, especially if you already have a basic level of knowledge and sufficient discretionary income. Because delaying time and making excuses is not appropriate if the goal is to become an investor by holding Bitcoin because the price of Bitcoin itself never stays at a certain number for a long period.

If we delay investing, we will always delay investing because I'm sure there will always be a reason to delay. I say this because I've personally experienced it myself, where every time I procrastinate, I always have an excuse to buy and accumulate Bitcoin. Whether it's for necessity or waiting for a decline, or whatever.

When we're financially prepared, it's best to invest as soon as possible. Once we buy, we become addicted to increasing our portfolio. The impact is that our brains will constantly be focused on earning additional income to increase our investments.

If you understand Bitcoin's long-term potential, don't delay, as its value tends to rise over the long term. If you wait or delay, you could miss out on significant growth that can occur whenever you have money or receive a weekly or monthly income. Aim to buy regularly, and don't pressure yourself into buying large amounts. Instead of delaying, it's better to buy within your means, even if only in small amounts, after prioritizing your basic needs and observing its potential over time. This will motivate you to increase your purchases and encourage you to increase your income in any way you can to increase your regular purchases, so you can generate substantial profits in the long run.

If you have good discretionary income, then you should definitely pay more attention to buying Bitcoin. Because according to the DCA method, you should continue the DCA method in the long term until you accumulate one Bitcoin. At present, only those who have a good income source and the ability to take more risk can buy Bitcoin aggressively. If you notice, you can definitely see that there is a huge demand for Bitcoin at the present time, as a result, the donation of Bitcoin is gradually increasing and moving forward more strongly. However, if you invest in Bitcoin according to the DCA method, it is definitely possible to get the highest profit, a huge saving on the purchase price.

I don't think it feels right dictating for investors the quantity of Bitcoin stash they must accumulate through the DCA Strategy. haven't come across this in Bitcoin that investors must reached a Over-accumulating goal of 1Bitcoin through the DCA Strategy. You know, investors financial abilities cannot be the same because of that, investors are suppose to accumulate Bitcoin according to their financial abilities.
However, newbies can be mislead with your posts,they will start thinking reaching a goal of a minimum of 1 Bitcoin within 4-10 years is a must reached. Believe me, these will discourage a lot of them and some can even discontinue accumulating Bitcoin because of the stress and expenses of stacking aggressively to reach a target of 1 Bitcoin within 4-10 years.