Buy Buy Buy or Sell Sell Sell?

[Joy- maker]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

[Dave1]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Right, we really need to be a educated investor in Bitcoin. There could be school of thoughts here that I know that advises to just invest without any plan. That is a wrong mindset because you don't have any plans. It's like you are going into war with just knives or with no bullets. And if you are really meticulous person, then you will have to lay out your strategy for years so that you won't be sloppy or neglect your Bitcoin investment.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

[Sonia_123]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Those investors that do not see emergency fund as important or necessary are likely to crash before they reach their final accumulation stage. Therefore no matter how much fund you have you still can not do without emergency fund because it's like a life span to your already accumulated satsh, in other for your investment not to gradually get eroded, because in your journey of accumulation you might come across some huddles which you might be tempted to temper your investment, but with the setting aside of emergency funds, you will successfully scale through that phase  without touching your investment or if need be very little not selling all, unlike not having any emergency fund  to back your investment up.

For those investors that knows the importance of emergency funds they don't joke with setting aside emergency and back up funds.

[EarnOnVictor]

Yep.. it can be difficult to break bad old habits, especially if you don't consider them to be bad.

I don't see any of my plans as bad, that's a fact. They are strategic and are working for me. What else does anyone want if what he does is working for him? Unless you want to preach perfection, which I am sure is not anywhere.

Well.. you might not damage your self as much if you would be able to limit your trading account to ONLY around 10% of the size of your bitcoin investment, but yes.. of course, gamblers do not have abilities to impose such strict limits on themselves.. and they think that they are able to profit more by playing BIGGER...

You are now talking, this looks like a plan. I do 10% or more, or less, it depends on the market condition, and I don't enter the market anyhow, unless it has dipped so well. Besides, only a certain account is dedicated to this, while others are dedicated to another scope of investing.

[Joy- maker]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Those investors that do not see emergency fund as important or necessary are likely to crash before they reach their final accumulation stage. Therefore no matter how much fund you have you still can not do without emergency fund because it's like a life span to your already accumulated satsh, in other for your investment not to gradually get eroded, because in your journey of accumulation you might come across some huddles which you might be tempted to temper your investment, but with the setting aside of emergency funds, you will successfully scale through that phase  without touching your investment or if need be very little not selling all, unlike not having any emergency fund  to back your investment up.

For those investors that knows the importance of emergency funds they don't joke with setting aside emergency and back up funds.

see the truth is emergency fund and backup fund are very essential when it comes to investment and not only bitcoin investment, but as someone who is just getting started with bitcoin you don't need have to put emergency fund and backup fund in place first before you can get started with bitcoin, rather map out your discretionary income from your main source of income and start investing in bitcoin immediately, less say 3 to 6 months time you can start building up your emergency fund and backup fund alongside your bitcoin investment. But the important thing is getting started first, that's what I and JJG is referring to and not the way you are seeing it from your owe perspective, because we never said emergency fund and backup fund is not important they important but getting started is more important okay.

[Gallar]

Yes, besides that, most rich people always have insurance, be it health insurance, vehicle insurance, or others. That way, they will not have difficulty when facing an emergency situation. So their investment in bitcoin will definitely be quite smooth because of this aspect. But even so, for people who are categorized as not yet rich, never give up on being able to successfully invest in bitcoin. Because basically if we have the will there will definitely be a way that we can take no matter how difficult it is. Because basically, many rich people today also started their careers from scratch. Therefore, for bitcoin investors who are currently still in the middle category in terms of their finances, never give up on continuing to do DCA in bitcoin. Because I am sure that if we are able to consistently do DCA in bitcoin within a period of 10-15 years, I am sure our financial situation will be much better. And as JJG said, we have to be able to manage everything well, especially when we invest in bitcoin.

What most poor people don't understand is that they can't get very rich through Bitcoin and enjoy those benefits but what it takes is patience, poor people should allow desperation force them to make wrong choices, there's no harm in starting small and growing gradually till it get bigger and better, at first they'll have to adapt to their level of income then on the long run they'll definitely enjoy those benefits the rich enjoy through insurance.

 Patience is a virtue and many poor people lack it that's why they choose the path of quick gains forgetting that one won't always be lucky. Bitcoin has already assured every class of investor the path to wealth or more wealth if they follow it diligently with a good strategy which is the DCA so there's no excuse, everything is just about determination and a poor person is determined to be wealthy in future then being patient shouldn't be an issue.

Yes, I agree with you that patience is indeed one of the keys to success and including for the poor. But still, being patient alone will not be enough to change their lives, because it certainly requires planning and also developing their own skills to be able to improve their economic situation. Investing in bitcoin can indeed be a long-term solution for everyone and including the poor. But believe me for people who are really poor, let alone investing, sometimes it is very difficult for them to eat every day. So for people who are really poor, I think to change their lives, my advice is that they should start looking for jobs that can generate enough money for their lives.

After they are safe with all their needs, my advice is to try to develop better skills, so that they can get jobs that pay much more. Then after all that can be passed, then they can start thinking about investing in bitcoin. Because if poor people have been able to advance to the middle stage financially, usually they can have discretionary income and that is the fund that can really be invested. So I think the conclusion is like that, poor people can definitely invest in bitcoin, but they have to go through several stages of their financial development, only then can they start investing.

[Hewlet]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

when it comes to investing, it is better to have a very good plan that will work rather than having ordinary mindset that is not backed up with a proper strategy that will yield result for the investor. mental resilient is very good as it helps you become motivated to continue investing even in times when a lot of odds might spring up but then, in addition to that, you need real plan in place regarding how you intend buying your bitcoin and the strategies that will help you continue buying without getting tempted to sell just too soon.

having proper budget for investing with the right allocation for emergency fund as well as as well as setting up other things that will make one a very good investor is the surest way that will make your resilient to have a real life effect that is visible to all eyes. the only way that people and including yourself can be sure that you are a resilient investor is when you are able to execute a strategy that you can follow up to the latter and still see some really good result that comes out of it.

the only way you can build your portfolio is when you invest and the only thing that shows that your strategy is effective is when your potfolio is getting better by the day. the strategy that is use by MR A might not be entirely the same with that which is used by MR B but in the end, what shows that you you are doing a good thing is when your buys is getting better by the day.

[ChocolateBitcoinK]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Right, we really need to be a educated investor in Bitcoin. There could be school of thoughts here that I know that advises to just invest without any plan. That is a wrong mindset because you don't have any plans. It's like you are going into war with just knives or with no bullets. And if you are really meticulous person, then you will have to lay out your strategy for years so that you won't be sloppy or neglect your Bitcoin investment.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

Yes, and since Bitcoin is a long-term investment, in order to make Bitcoin investment effective in a mature way, it is mandatory for you to have a long-term well-planned strategy. In the case of Bitcoin investment, if you make an investment decision without any plan, it will definitely affect you only negatively, and that is why it is necessary to be educated about Bitcoin, but in this case, one thing to keep in mind is that it is never a good decision to delay investing in order to become educated about Bitcoin, that is, you should start investing first and then learn about Bitcoin.

To be clear, you first need to gain general knowledge about Bitcoin, then start investing, and if you want to be consistent, you can think about becoming deeply knowledgeable about Bitcoin, but first of all, you must gain general knowledge about Bitcoin by which you can decide to hold Bitcoin for the long term in the first place, those who have understood the real power of Bitcoin, they never think about short-term investment or profit, real investors always keep long-term investment in mind and this is why they profit the most most of the time.

You should always have the right understanding about Bitcoin, it is a long-term journey, so there is no reason to ever worry about the short-term volatility of Bitcoin, if you lose your confidence during every volatility and decide to sell your holdings unnecessarily due to panic, then you will never be able to enjoy its real benefits, because during every volatility you will unnecessarily panic and disrupt your holdings, so to speak, first try to firmly understand the real potential of Bitcoin and have a long-term holding mindset, only then can Bitcoin investment transform you into a successful investor in the long term.

[Jostern]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

when it comes to investing, it is better to have a very good plan that will work rather than having ordinary mindset that is not backed up with a proper strategy that will yield result for the investor. mental resilient is very good as it helps you become motivated to continue investing even in times when a lot of odds might spring up but then, in addition to that, you need real plan in place regarding how you intend buying your bitcoin and the strategies that will help you continue buying without getting tempted to sell just too soon.

having proper budget for investing with the right allocation for emergency fund as well as as well as setting up other things that will make one a very good investor is the surest way that will make your resilient to have a real life effect that is visible to all eyes. the only way that people and including yourself can be sure that you are a resilient investor is when you are able to execute a strategy that you can follow up to the latter and still see some really good result that comes out of it.

the only way you can build your portfolio is when you invest and the only thing that shows that your strategy is effective is when your potfolio is getting better by the day. the strategy that is use by MR A might not be entirely the same with that which is used by MR B but in the end, what shows that you you are doing a good thing is when your buys is getting better by the day.

Definitely it might be helpful to have all that knowledge you are talking about like having a good budget and good financial plans and mental preparation and stability and a suitable strategy but it is not actually necessary to have everything you talked about sorted before you start investing in Bitcoin, first of all you should have a discretionary funds to start investing and secondly you should also invest what you can afford to loose because there is no maximum guarantee when investing in Bitcoin and it’s never a risk free investment, that is why it’s always advisable to invest and hodl for a longer term, I know people can make mistakes and there is no guarantee that mistakes will not be involved, now if an investor should make invest from money that is meant for taking care of expenses that should be a mistake from an investor that is most likely gambling.

[Cossyblack]

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

You are right,when an investor starts using funds meant for his basic needs to purchase Bitcoin ,such behavior mirrors him as a gambler that's is gambling for quick profits. And due to the fluctuation of Bitcoin price and the uncertainty correlated with the market and in other to minimize the risk since Bitcoin investment is not risk free,it is absolutely necessary we only used our discretional income to purchase Bitcoin.  However I also think persons involved In using funds meant for their most basic needs to buy Bitcoin with a mindset of trying to get rich overnight is either he is trader or a gambler and such an approach is totally wrong especially since Bitcoin is not a get quick- rich scheme. We should also try to avoid purchasing Bitcoin outside our discretional income and it's also necessary we choose or settle to invest in Bitcoin for a long term plan while holding for at least in the next 4-10 years or more.

[Shadiq]

Definitely it might be helpful to have all that knowledge you are talking about like having a good budget and good financial plans and mental preparation and stability and a suitable strategy but it is not actually necessary to have everything you talked about sorted before you start investing in Bitcoin, first of all you should have a discretionary funds to start investing and secondly you should also invest what you can afford to loose because there is no maximum guarantee when investing in Bitcoin and it’s never a risk free investment, that is why it’s always advisable to invest and hodl for a longer term, I know people can make mistakes and there is no guarantee that mistakes will not be involved, now if an investor should make invest from money that is meant for taking care of expenses that should be a mistake from an investor that is most likely gambling.

Especially for a new investor, basic knowledge of investment, prudent money and mental preparation are important for starting investment. When you have prudent money, you may not delay entering investment. Because it may not take much time to get basic knowledge and mentally prepared.

You can practice good budgeting, good financial management, stability and deep knowledge of investment along with investing. When you practice all the things and make yourself an educated investor, it may be easier for you to take steps and make good financial management and planning. After starting investment, focus on being consistent in investing and gaining knowledge or practicing. If you fail to maintain consistency, you may remain a new investor or an incompetent investor, although a lot of time has passed.

[BitBakerr1]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Those investors that do not see emergency fund as important or necessary are likely to crash before they reach their final accumulation stage. Therefore no matter how much fund you have you still can not do without emergency fund because it's like a life span to your already accumulated satsh, in other for your investment not to gradually get eroded, because in your journey of accumulation you might come across some huddles which you might be tempted to temper your investment, but with the setting aside of emergency funds, you will successfully scale through that phase  without touching your investment or if need be very little not selling all, unlike not having any emergency fund  to back your investment up.

For those investors that knows the importance of emergency funds they don't joke with setting aside emergency and back up funds.

see the truth is emergency fund and backup fund are very essential when it comes to investment and not only bitcoin investment, but as someone who is just getting started with bitcoin you don't need have to put emergency fund and backup fund in place first before you can get started with bitcoin, rather map out your discretionary income from your main source of income and start investing in bitcoin immediately, less say 3 to 6 months time you can start building up your emergency fund and backup fund alongside your bitcoin investment. But the important thing is getting started first, that's what I and JJG is referring to and not the way you are seeing it from your owe perspective, because we never said emergency fund and backup fund is not important they important but getting started is more important okay.

Well Joy- maker I disagree with this your ideology, telling a newbie who understands the importance of having a backup funds that he those not need to have a backup funds in place first and that he should start accumulating Bitcoin for 3 to 6 months before starting to build his or her backup funds, it seems you really don't understand the importance of having a backup funds as an investor, now you have to understand that backup funds is like a shield that protect you from the starting till the end of your investment journey.
The main reason we are having a backup funds in the first place is so it can help us during any unexpected financial problem or emergency, this unexpected financial problem or emergency can happen anytime either at the first or second month of your investment journey or at the 6th, 10th or even towards the end of your investment journey, the main point is we don't know when this emergency or financial issue will happen so preparing form the beginning is very much important, you can't be accumulating Bitcoin for 3 to 6 months without having any little backup funds is very risky to do that, especially after knowing about backup funds as a newbie.

And lastly Joy- maker I will like to correct you on something I see that you are putting or making a statement like this "emergency funds and backups funds" now emergency funds and backups are not different, backup funds is the general name for both emergency, reserve and float funds this funds has there different function but are called backup funds in general.

[bitzizzix]

Yes, besides that, most rich people always have insurance, be it health insurance, vehicle insurance, or others. That way, they will not have difficulty when facing an emergency situation. So their investment in bitcoin will definitely be quite smooth because of this aspect. But even so, for people who are categorized as not yet rich, never give up on being able to successfully invest in bitcoin. Because basically if we have the will there will definitely be a way that we can take no matter how difficult it is. Because basically, many rich people today also started their careers from scratch. Therefore, for bitcoin investors who are currently still in the middle category in terms of their finances, never give up on continuing to do DCA in bitcoin. Because I am sure that if we are able to consistently do DCA in bitcoin within a period of 10-15 years, I am sure our financial situation will be much better. And as JJG said, we have to be able to manage everything well, especially when we invest in bitcoin.

What most poor people don't understand is that they can't get very rich through Bitcoin and enjoy those benefits but what it takes is patience, poor people should allow desperation force them to make wrong choices, there's no harm in starting small and growing gradually till it get bigger and better, at first they'll have to adapt to their level of income then on the long run they'll definitely enjoy those benefits the rich enjoy through insurance.

 Patience is a virtue and many poor people lack it that's why they choose the path of quick gains forgetting that one won't always be lucky. Bitcoin has already assured every class of investor the path to wealth or more wealth if they follow it diligently with a good strategy which is the DCA so there's no excuse, everything is just about determination and a poor person is determined to be wealthy in future then being patient shouldn't be an issue.

Yes, I agree with you that patience is indeed one of the keys to success and including for the poor. But still, being patient alone will not be enough to change their lives, because it certainly requires planning and also developing their own skills to be able to improve their economic situation. Investing in bitcoin can indeed be a long-term solution for everyone and including the poor. But believe me for people who are really poor, let alone investing, sometimes it is very difficult for them to eat every day. So for people who are really poor, I think to change their lives, my advice is that they should start looking for jobs that can generate enough money for their lives.

After they are safe with all their needs, my advice is to try to develop better skills, so that they can get jobs that pay much more. Then after all that can be passed, then they can start thinking about investing in bitcoin. Because if poor people have been able to advance to the middle stage financially, usually they can have discretionary income and that is the fund that can really be invested. So I think the conclusion is like that, poor people can definitely invest in bitcoin, but they have to go through several stages of their financial development, only then can they start investing.

That's right, when we talk about poor people or very poor people, it's not as easy as they say because they are not in their position or do not know the truth because the level of poverty varies and in reality they do not want to be poor.
But it seems that what you said is only a small part that has succeeded in becoming successful, even then it takes a long process, and if to invest in Bitcoin what they have to do or have is belief in Bitcoin that Bitcoin can change them. And with that, although sometimes it is not enough for daily needs, that belief will turn it into a high motivation for them to be able to change, try, improve skills and so on that has the potential to generate money to support them in investing in Bitcoin. And they can try to find any job to be able to make money because there are still many decent jobs for poor people if they really want to do it and with this they can set aside a small part of their money to be collected to buy Bitcoin if their money has increased and if they can do it well and consistently even though only in small amounts in the long term slowly their lives will change and the most important thing is that high self-confidence and self-belief will turn it into a potential motivation for them to try and keep trying to be able to do it, and besides that motivation can also change it to be better than before because their efforts will pay off and so they will have a job or enough income, to meet their needs and also to invest.

[Churchillvv]

Definitely it might be helpful to have all that knowledge you are talking about like having a good budget and good financial plans and mental preparation and stability and a suitable strategy but it is not actually necessary to have everything you talked about sorted before you start investing in Bitcoin, first of all you should have a discretionary funds to start investing and secondly you should also invest what you can afford to loose because there is no maximum guarantee when investing in Bitcoin and it’s never a risk free investment, that is why it’s always advisable to invest and hodl for a longer term, I know people can make mistakes and there is no guarantee that mistakes will not be involved, now if an investor should make invest from money that is meant for taking care of expenses that should be a mistake from an investor that is most likely gambling.

You can practice good budgeting, good financial management, stability and deep knowledge of investment along with investing. When you practice all the things and make yourself an educated investor, it may be easier for you to take steps and make good financial management and planning. After starting investment, focus on being consistent in investing and gaining knowledge or practicing. If you fail to maintain consistency, you may remain a new investor or an incompetent investor, although a lot of time has passed.

While preparing to be a good investor it's best to start already, while in the process of learning as you're learning your practicalising everything you have learnt will be beneficial if only you are practicing it, it will give you and edge for better understanding and avoiding wasting of time for investment. Instead of waiting for the best time to invest which is after you might have finished learning then you're best learning and investing.

The underlying message is preparation doesn't have to make you wait to invest instead you invest while learning.

[Taskford]

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

You are right,when an investor starts using funds meant for his basic needs to purchase Bitcoin ,such behavior mirrors him as a gambler that's is gambling for quick profits. And due to the fluctuation of Bitcoin price and the uncertainty correlated with the market and in other to minimize the risk since Bitcoin investment is not risk free,it is absolutely necessary we only used our discretional income to purchase Bitcoin.  However I also think persons involved In using funds meant for their most basic needs to buy Bitcoin with a mindset of trying to get rich overnight is either he is trader or a gambler and such an approach is totally wrong especially since Bitcoin is not a get quick- rich scheme. We should also try to avoid purchasing Bitcoin outside our discretional income and it's also necessary we choose or settle to invest in Bitcoin for a long term plan while holding for at least in the next 4-10 years or more.

That's not meant to be spend on investment if those funds is for their basic needs. People need to erase that thoughts of using that funds since they might struggle to meet their daily needs if they do that.

What they need to understand is what they should use is their discretionary funds since they won't get any issues for using that money especially that they already done taking care those more important matter and the money they use to invest on Bitcoin is what left from those things that they need to pay attention first.

Bitcoin investment is long term commitment and people need to think better approach to deal with it so that they became more consistent on each actions they do.

[Lidger]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

You are also correct JJG if a person fucks up and invest funds that is needed to settle his or her expenses that person is not longer investing, rather he or she is either gambling or trading. And that's not the right way to approach bitcoin, what a person needs to invest in bitcoin is his or her discretionary income and not funds that he or she needed to settle expenses.

Right, we really need to be a educated investor in Bitcoin. There could be school of thoughts here that I know that advises to just invest without any plan. That is a wrong mindset because you don't have any plans. It's like you are going into war with just knives or with no bullets. And if you are really meticulous person, then you will have to lay out your strategy for years so that you won't be sloppy or neglect your Bitcoin investment.

So there is this mindset to be really mentally resilient that whatever comes, you will continue to invest. And then everything will fall into pieces for us, and we can call this "strategic choice", - Delayed Gratification.

I will invest in Bitcoin, this is a plan, I will keep investing in Bitcoin for this specific period and I will invest this specific amount of money continuously, this is a plan. If we cannot start investing after making this plan, then it is definitely a failure for us.

In the case of many investors, they plan to invest, but while investing, they wait for the market to come much lower than the current price, but the market does not actually change as they wish, due to which they cannot invest even after a long time. Basically, there is nothing to worry about so much at this time, if the previous plans are correct, then investment in Bitcoin can be made at any price level later because it is not trading that a person has to worry so much, since Bitcoin will be purchased step by step, in this case, Bitcoin will go up and down during these times, as a result of which a price agreement will be automatically created if you invest continuously.

[Catenaccio]

That's not meant to be spend on investment if those funds is for their basic needs. People need to erase that thoughts of using that funds since they might struggle to meet their daily needs if they do that.

What they need to understand is what they should use is their discretionary funds since they won't get any issues for using that money especially that they already done taking care those more important matter and the money they use to invest on Bitcoin is what left from those things that they need to pay attention first.

Bitcoin investment is long term commitment and people need to think better approach to deal with it so that they became more consistent on each actions they do.

Bitcoin investment is long term so people as investors can not think too short term because it will decide how they plan their investment, finance and what they do before and during their investment experience. All these things will decide how they end their investment with profit or loss, Bitcoin does not decide it. While Bitcoin has very good ROI over years, it is about long term ROI and if investors can not hold bitcoins for a long time like many years, their portfolio ROI can be negative, and not profitable.

They must commit themselves on manage their finance well in order to make sure that they can increase holding ability and better chance of getting profit.

[SmartCharpa]

Emergency fund is not mandatory for investment, if the investor does not give it much importance, there is no problem, but I think the investor should give importance to his continuous investment. The more serious an investor is about his investment and the more consistent he is, the stronger his investment will be. Basically, emergency fund is a very secondary issue for an investor. Those who have sufficient financial solvency and are very serious about their investment usually form emergency fund. The advantage of emergency fund is that if the investor fails to invest consistently, then that investor can use his emergency fund and when his financial condition returns to normal, he can replenish his fund with money. However, emergency fund is not mandatory for everyone.

You seems to be missing the whole concept here, maybe when you start your own accumulating journey you can choose not to set up your emergency fund Instead of including others, since you think is not mandatory, i can only agree with you if you said that emergency fund is optional when getting started. But once you reach two weeks of accumulation then you have to start looking for a way to set up an emergency fund, your emergency fund is what will guide you until you reach your investment goal in case you have forgotten, because if you don't set up emergency fund along the line there's every possibility that you will temper your bitcoin investment some day. And this will happen unexpectedly, so I will advice you don't mislead yourself here.

Some people feel that emergency funds are not needed, especially if you are serious about investing. Most of them used to feel that if you were focused and consistent, you didn't need to worry about emergency funds. And emergency funds aren't only about hard work, they're also about planning for the unexpected. I believe this makes it clear to newbies that feel emergency funds are not required in the beginning, it becomes more important when time goes on, especially when accumulating and planning for long term.

Of course, if something urgent happens and there is no emergency fund, the person may be forced to touch or even sell part of their investment just to survive. And doing so can destroy everything that the person has worked so hard to achieve. That alone can discourage every investor. Having an emergency fund allows you to breathe easily and gives you the confidence to continue with what you're doing. It's like protection that allows your Bitcoin to grow without disturbance. Every investor needs to set up an emergency fund in the beginning, instead of hoping that everything will go well without a plan.

[ejikeme24]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

Of a truth waiting to get all our budget figured out before getting started will make us not to start our accumulating journey on time, but I feel that this is supposed to be a personal decision if we are to get started or to wait until we get all this figured out. so you can't possibly say that is not necessary to wait until we get all this matters sorted out before getting started, as you can't speak for others, If you feel that getting started is your best step to take maybe with time you will be looking for a way to get all this matters figured out, is also a nice idea. So I feel that this is just a personal decision.

[Mehmet69]

To get started in bitcoin investing in bitcoin, all that is needed is discretionary funds.  Sure it might be helpful to have a budget to figure out future ways to keep buying bitcoin.. but it is not necessary to have all those matters sorted out in order to get started investing into bitcoin, and yeah, you are correct, if a person fucks up and spends from money that he needs for expenses a short time later or even in less than 4 years, then he is not investing, but instead either trading or gambling.

you are very correct JJG, having a budget to figure out future ways to keep buying bitcoin might be helpful, but it is not necessary to have all those matters sorted out in order to get started with bitcoin, because It can delay the person bitcoin investment journey if he or she want to put everything in place before getting started with bitcoin. All the person need is discretionary income to start investing in bitcoin.

Of a truth waiting to get all our budget figured out before getting started will make us not to start our accumulating journey on time, but I feel that this is supposed to be a personal decision if we are to get started or to wait until we get all this figured out. so you can't possibly say that is not necessary to wait until we get all this matters sorted out before getting started, as you can't speak for others, If you feel that getting started is your best step to take maybe with time you will be looking for a way to get all this matters figured out, is also a nice idea. So I feel that this is just a personal decision.

Yes, you are right. Investing in Bitcoin is a completely personal decision of an individual. We cannot force anyone to invest. We can only give them the right advice.

Since we have decided to invest in Bitcoin. So we have to do all the things through which we can easily accumulate more Bitcoin. More or less, we all have the desire to accumulate at least 1 Bitcoin in our portfolio. But most people start accumulating Bitcoin in the wrong way. Some do not have a proper plan. Some use investment as an emergency fund. Some wait to create all kinds of backups before investing.

I want to tell all of them, you should not plan so much without starting investing. Start investing as soon as possible. Because, two things are needed for a person to invest in Bitcoin. 1. Regular investment 2. Managing the investment with prudent income. Nothing else is needed beyond this. However, the additional things we are talking about are the things to do to sustain this investment consistently. Therefore, although investing is a personal matter, I believe we should be given sound advice.