Buy Buy Buy or Sell Sell Sell?

[Stable090]

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

Most people that don’t have proper knowledge about bitcoin do see bitcoin as a Ponzi scheme, and that’s why most people do end up jumping into it, they believe they can easily make quick money from bitcoin investment, but things doesn’t work like that, if you jump into bitcoin investment, then you going to end up regretting at the end because you definitely going to lose. People that claim they having signal groups are the set of people that makes bitcoin investment looks like a Ponzi scheme, they are ready to say anything just for people to join their group.

If you are investing in bitcoin, then you shouldn’t be having the mindset to make profit within a short period of time, your intention is to hold for long term, and if you are holding, then you should learn the appropriate way to hold your bitcoin so that you won’t end up losing your bitcoin after holding for years.

[Mr_Brilliant$]

You can also get started without understanding it all

I disagree with you that anyone can invest into bitcoin without have any knowledge of bitcoin at all. You must have the basic knowledge of bitcoin before you can start your bitcoin investment or someone is there to guide you. If you don't know anything about bitcoin, how will you know that you are invest in a long-term and that the price is volatile and you shouldn't sell in panic whenever there's a dip.

This is the reason why a lot of people jump into bitcoin investment and think that it's a get rich quick scheme and run at loss because they fail to learn the basic knowledge of bitcoin and understand how they can plan on investing and hodli for a long-term.

I can take myself as an example, in the beginning when I heard about bitcoin due to lack of the basic knowledge of bitcoin, I thought that it's only for trading and never knew that investing in it for a long term plan is the best. I also invested in shitcoin because I don't know the difference between bitcoin and shitcoin because I didn't make any research. Anyone who wants to start his bitcoin investment must have the basic knowledge of bitcoin and increase his knowledge as he is building his bitcoin portfolio.

I think you did not really get what he meant bro, he never said people should just blindly jump into bitcoin without any knowledge at all. What he said was that you do not have to fully understand everything about bitcoin before you can start investing.. There is a big difference between the two. Nobody is asking a beginner to come in empty headed, but it is also not mandatory to know every single detail about mining, halving, nodes, or the whole tech before buying your first Bitcoin… With just the little basic knowledge, like knowing it is volatile, long term, and not a get rich quick thing, and few others you can already start small and keep learning along the way…

If you look at it well, that is how most people actually got into bitcoin, including myself, They started with the basics, then as time went on, their knowledge grew and their confidence grew with it..  The truth is if everyone waited till they understood every single aspect of bitcoin, majority would never even start at all. The important thing is building the habit of investing, holding, and learning as you go. The truth is experience itself will teach you things that no amount of research can give, and that is exactly why starting early with little knowledge is better than waiting forever to know it all…

[sotelorene]

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

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

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

As long as you have a salary coming in, you can always remove your discretionary income out of it, but if the salary is small to the extent that you can't have a discretionary income after all basic needs have been met, then it's mandatory that you look for another source so as to have a discretionary income left after all expenses have been made, because it's only through your discretionary income you invest in bitcoin, if you don't have a discretionary income and you went ahead to invest with whatever funds in your hand, it's pure gambling that may likely not end well because when the needs for the funds used to invest arises, you are bound to  sell prematurely even at a loss most times, so as to meet up to that pressing needs the money is meant for, so investment outside your discretionary income is not the best way to invest in bitcoin.

Anyone who uses money that is not from discretionary income to invest in Bitcoin is engaging himself or herself in an unhealthy investment which is not advisable because the probability and chance that this person will not succeed or hold for long is very high. So we should not allow the drive we have towards Bitcoin to control us when we don't have what it takes to invest and hold for long. And I have realized that what makes some people to invest when they don't have the capacity to invest is greed that is when they see their friends who has the Capacity and they are investing, they will also want to follow suit but this Investment is not so.

[F- link]

many people jump into Bitcoin only after hearing about others making profit.

You arevcorrect many people dive into Bitcoin investment because they heard that people are making hudge profits from it which is not making sense, Bitcoin investment is not something you can just dive in and expect to make hudge profits within a short period of time, why because Bitcoin is not a puzzle scheme (get Rich quick something), Bitcoin investment is a game of patent and consistency you can only make reasonable profits from it when you accumulate a good portion of it and hold for Long team 4 to 10 years or more.

[2Pizza410000BTC]

many people jump into Bitcoin only after hearing about others making profit.

You arevcorrect many people dive into Bitcoin investment because they heard that people are making hudge profits from it which is not making sense, Bitcoin investment is not something you can just dive in and expect to make hudge profits within a short period of time, why because Bitcoin is not a puzzle scheme (get Rich quick something), Bitcoin investment is a game of patent and consistency you can only make reasonable profits from it when you accumulate a good portion of it and hold for Long team 4 to 10 years or more.

Why do you need to invest a good portion or more of your Bitcoin to get a reasonable profit from Bitcoin investment? Is it not reasonable to invest a small amount of Bitcoin? Are people not making a profit by investing a small amount of Bitcoin? Of course, they are making a profit and it is reasonable to invest a small amount of Bitcoin? Now I do not have the ability to buy a large amount of Bitcoin. I have the ability to buy a small amount of Bitcoin and if I buy a little Bitcoin every day or every week and move forward, then I will definitely make a profit. Those who are immersed in Bitcoin or are immersed in Bitcoin by listening to others and investing in Bitcoin can hold their Bitcoin properly, then they will definitely make a profit after a few years.  As the word of Bitcoin investment reaches people and if people listen to my words and invest and hold it properly, then they will definitely be successful. Bitcoin is a currency that is constantly growing and this valuable asset will definitely become an even more valuable asset one day where we will regret why we did not hold a small amount of Bitcoin. In any case, if you have the ability, you should definitely invest in Bitcoin and make a plan to hold that investment for the long term. I hope you will definitely succeed.

[As-Soon-As]

many people jump into Bitcoin only after hearing about others making profit.

You arevcorrect many people dive into Bitcoin investment because they heard that people are making hudge profits from it which is not making sense, Bitcoin investment is not something you can just dive in and expect to make hudge profits within a short period of time, why because Bitcoin is not a puzzle scheme (get Rich quick something), Bitcoin investment is a game of patent and consistency you can only make reasonable profits from it when you accumulate a good portion of it and hold for Long team 4 to 10 years or more.

If you want to make more profit by investing in Bitcoin for a short period of time, then it will be trading, and if you want to hold Bitcoin, then you must hold Bitcoin for a long time. If you want to hold Bitcoin, then any investor must use the DCA method, then it will definitely help him hold it for a long time. If a person wants to keep Bitcoin for a long time according to his correct thinking and planning, then he needs to have a period of stability of at least two bull runs (8 to 12 years). And if he allocates money for Bitcoin investment every week or month and collects it according to the DCA method, then he will definitely be successful in the end. Because if he invests Bitcoin according to the DCA method, he has a higher chance of success.

[Bigjoe33]

Realizing Bitcoin's immense profit-generating potential will spark interest in learning the basics. Learn what Bitcoin is, how to own it, and other fundamentals before proceeding. Everything we want to learn and explore further can be discovered throughout our investment journey, and once we experience the benefits, it will motivate us to continue accumulating more Bitcoin and achieving our long-term goals. giving us time to accumulate more Bitcoin, increase our knowledge, and increase our profits.

Surely, because we can't and or underestimate the role of EXPERIENCE and how best it teaches us in our journey of Bitcoin accumulation. This point is clearly for those would-be investors and or interested seeking investors who have not began their Bitcoin wallet investment journey solely for the fact that they lack COMPLETE knowledge about Bitcoin investment which has led to FEAR and has kept them away for long. I would say that people don't learn everything all at once. It's always a gradual process, yea!

It's has been stated often times that an ''INTERESTED'' would be investor must NOT know everything at the beggining to be a successful investor. Reach out to professionals, or read books, use search engines ask questions and get basic knowledge about Bitcoin and it's investment such as, what Bitcoin really is, it's worth presently and it's potential future value, risk associated, where to buy, how to buy, and most importantly how to keep it safe from fraudsters, and with these basis, and interested would be investor is good to go.

Talking about the role of EXPERIENCE I mentioned earlier, here it applies. Haven gotten the basis knowly, you can immediately kick start your investment journey, then experience comes in, because it will teach you great and certain things paper, business seminar and or professionals won't teach you. Experience has always remained the best teacher. It will guide you to study the market properly after you must have suffered or experienced some things first hand. This your self discoveries now makes you far better, stronger and a personal store of knowledge which will guide you through your investment journey and also gives you an experience you can share with others who seek same knowledge as you.

The major pint here is that, so long as you are interested to buy or invest in Bitcoin, we must do away with the fear that holds us back, that we don't know how to do it, how do I start and so on, thereby keeping you away and killing your dream of potential accumulation. If you remain there, you may end up not even accumulating at all. We must get started, ask questions and begin, and then allow Experience teach you all other things you need to know along the line.

[Sticky Bomb]

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

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

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

Discretionary income must not come from your job salary directly, there may be more income sources apart from your direct job. I have friends that work a full-time job while being an agent in other people's businesses and it's  possible they use what they get from their salary as expenses and their referral bonuses as discretionary income and if they're into Bitcoin, they could still use the referral bonuses to invest.

Again my youngest sister still insists I send some money for her at the end of the month for her upkeep despite working herself and making money on her own which I still do and it's possible that the money I send to her forms a large party of her discretionary income.

Discretionary income is basically any income that you've left after catering for your expenses and it doesn't matter the source, what matters is that you recorded it as an inflow and you've handled your expenses independent of it and such extra funds can be used to invest into Bitcoin.

[Barikui1]

Discretionary income must not come from your job salary directly, there may be more income sources apart from your direct job. I have friends that work a full-time job while being an agent in other people's businesses and it's  possible they use what they get from their salary as expenses and their referral bonuses as discretionary income and if they're into Bitcoin, they could still use the referral bonuses to invest.

Again my youngest sister still insists I send some money for her at the end of the month for her upkeep despite working herself and making money on her own which I still do and it's possible that the money I send to her forms a large party of her discretionary income.

Discretionary income is basically any income that you've left after catering for your expenses and it doesn't matter the source, what matters is that you recorded it as an inflow and you've handled your expenses independent of it and such extra funds can be used to invest into Bitcoin.

I don't know why some people are still finding it complicated, what you are saying here are true, discretionary income can come from anywhere, as long as it's the money left after all basic needs has been met.

The only problem about most Bitcoin investors is that they still can't figure out their discretionary income, they invest outside their discretionary income feeling like they can easily replaced the money used to invest from another source, and mostly times they will be unable to do it, which might get them into trouble with their investment, they don't know that it's only the rich guys that has such leverage when investing in Bitcoin, and it's still only the rich guys that can invest in Bitcoin without an emergency funds and go Scott free with it because they have numerous source of income and they also have rich friend and uncles to cover for them when in real life emergency, but if you are not in such a level, don't ever try that shit because your bitcoin investment will be sacrifice when real life emergency struck.
So investing only from your discretionary income and having an emergency fund in place while investing is very much fundamental to the security and safety of your bitcoin holdings.

[JayJuanGee]

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[Edited out]

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

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

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

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

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

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

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

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

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

[edited out]

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[POPOLUV]

I have not heard about this bullish accumulation of a thing and it is sounding like being passionate to accumulate Bitcoin against all odds. I hope I'm wrong but the right way to invest in Bitcoin is always with discretionary income to avoid a situation where you will have to sell Bitcoin to meet your basic needs, which is not a good thing to do. Even  though you may not have meet your accumulation goal in terms of the quantity of Bitcoin in your portfolio, it will be better to imbibe consistency than to rush the process since with time you will definitely meet the target. In other words, the concept of slow and steady wins the race.

If you are accumulating Bitcoins and want to hold them for long term then best approach is to accumulate them through discretionary income. WHILE YOUR JOB SALARY OR BUSINESS INCOME CAN BE USED TO MEET DAILY REQUIREMENTS. Why discretionary income is important is because it allows to dormant your Bitcoin for longer duration. Without discretionary income or if you are accumulating bitcoins with your salary then you might cash out your bitcoin in the long run, which completely destroys your plan of long term investment.

I totally agree with you when you said that if you want to accumulate Bitcoin and holding your Bitcoin in a longer term through the means of using a discretionary income and it occurs to me or draw my attention that the discretionary income you just mentioned above you don't have the full knowledge about what a discretionary income is all about, because if you know you can't be using your salary or business to meet your daily requirements, so i want to explain what a discretionary income is all about if you have forgotten so early, a discretionary income is an income gotten from your salary after all the payment of bills, so after the payment of bills what remain is the discretionary income than you still saying that you can use your salary or business for your daily requirements.

[Kagaru]

Discretionary income must not come from your job salary directly, there may be more income sources apart from your direct job. I have friends that work a full-time job while being an agent in other people's businesses and it's  possible they use what they get from their salary as expenses and their referral bonuses as discretionary income and if they're into Bitcoin, they could still use the referral bonuses to invest.

Again my youngest sister still insists I send some money for her at the end of the month for her upkeep despite working herself and making money on her own which I still do and it's possible that the money I send to her forms a large party of her discretionary income.

Discretionary income is basically any income that you've left after catering for your expenses and it doesn't matter the source, what matters is that you recorded it as an inflow and you've handled your expenses independent of it and such extra funds can be used to invest into Bitcoin.

I don't know why some people are still finding it complicated, what you are saying here are true, discretionary income can come from anywhere, as long as it's the money left after all basic needs has been met.

The only problem about most Bitcoin investors is that they still can't figure out their discretionary income, they invest outside their discretionary income feeling like they can easily replaced the money used to invest from another source, and mostly times they will be unable to do it, which might get them into trouble with their investment, they don't know that it's only the rich guys that has such leverage when investing in Bitcoin, and it's still only the rich guys that can invest in Bitcoin without an emergency funds and go Scott free with it because they have numerous source of income and they also have rich friend and uncles to cover for them when in real life emergency, but if you are not in such a level, don't ever try that shit because your bitcoin investment will be sacrifice when real life emergency struck.
So investing only from your discretionary income and having an emergency fund in place while investing is very much fundamental to the security and safety of your bitcoin holdings.

Yeah, many people think that investing means setting aside a portion of your salary but in fact any additional income can be a source of discreet income. Be it referral bonuses small side businesses or even gifts or allowances. The main thing is to set aside the remaining money after meeting basic expenses and invest it in the right places without spending it risky.

Where many people make a mistake is to start investing with the money you need. If you do this you are forced to sell your Bitcoin in an emergency and you lose out on long term profits. Therefore it is important to create a discreet source of income and have an emergency fund. This does not put pressure on investments and allows you to gradually increase your savings over a long period of time.

I think the first thing anyone who wants to invest in Bitcoin should do is to clearly define their budget and find out where their discreet income comes from. This makes investing much more stable and peaceful.

[puloweh555]

Understanding its potential is crucial from the outset. Realizing Bitcoin's immense profit-generating potential will spark interest in learning the basics. Learn what Bitcoin is, how to own it, and other fundamentals before proceeding. Everything we want to learn and explore further can be discovered throughout our investment journey, and once we experience the benefits, it will motivate us to continue accumulating more Bitcoin and achieving our long-term goals. This is why it's important to understand Bitcoin from the outset for the long term, giving us time to accumulate more Bitcoin, increase our knowledge, and increase our profits.

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

Many people especially beginners sometimes buy Bitcoin without thorough knowledge simply following trends especially now that Bitcoin is at a high price. However they won't be prepared for the high price fluctuations that can lead to panic. However if you have knowledge and have thoroughly studied Bitcoin when fluctuations occur they won't panic because they know that price fluctuations are perfectly normal and can even present opportunities to buy at a discount and hold for the long term. In short investing in Bitcoin requires not only knowledge but also mindset to ensure long term investment.

[Olatundespo]

many people jump into Bitcoin only after hearing about others making profit.

You arevcorrect many people dive into Bitcoin investment because they heard that people are making hudge profits from it which is not making sense, Bitcoin investment is not something you can just dive in and expect to make hudge profits within a short period of time, why because Bitcoin is not a puzzle scheme (get Rich quick something), Bitcoin investment is a game of patent and consistency you can only make reasonable profits from it when you accumulate a good portion of it and hold for Long team 4 to 10 years or more.

If you want to make more profit by investing in Bitcoin for a short period of time, then it will be trading, and if you want to hold Bitcoin, then you must hold Bitcoin for a long time. If you want to hold Bitcoin, then any investor must use the DCA method, then it will definitely help him hold it for a long time. If a person wants to keep Bitcoin for a long time according to his correct thinking and planning, then he needs to have a period of stability of at least two bull runs (8 to 12 years). And if he allocates money for Bitcoin investment every week or month and collects it according to the DCA method, then he will definitely be successful in the end. Because if he invests Bitcoin according to the DCA method, he has a higher chance of success.

You are right in recommending a long term for Bitcoin investment but you later said that the term two bull runs is not really correct you should say at least two or three cycles. You should clarify what you really mean by stable period. There is no stable period in investing. You are recommending Bitcoin investment and long term DCA method. This method for Bitcoin investment is very correct and great for any people. With this method you will be able to accumulate Bitcoin regardless of the price and you will eventually succeed in continuing the cycles correctly. To continue accumulating Bitcoin through DCA method you need to build a backup fund so that in case of emergency you can solve urgent problems without having to withdraw your Bitcoin holdings.

[Loyang]

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

Many people especially beginners sometimes buy Bitcoin without thorough knowledge simply following trends especially now that Bitcoin is at a high price. However they won't be prepared for the high price fluctuations that can lead to panic. However if you have knowledge and have thoroughly studied Bitcoin when fluctuations occur they won't panic because they know that price fluctuations are perfectly normal and can even present opportunities to buy at a discount and hold for the long term. In short investing in Bitcoin requires not only knowledge but also mindset to ensure long term investment.

It is never possible for a person to acquire complete knowledge. A new person never needs complete knowledge to start investing. If a person has basic knowledge about Bitcoin, faith in Bitcoin and a source of discretionary income, then he can start investing. If a person waits to invest to gain knowledge, he may miss out on many purchases and opportunities, falling behind in the goal of building a portfolio.

Starting investing is necessary. First, a person has to start investing and after starting investing, he can gain knowledge. If he gains knowledge after starting investing, he will not fall behind in building a portfolio, he will not miss out on purchasing opportunities. If a person does not do any work, he will never be able to gain experience in that work. By investing, he will gain experience and along with it, he will be able to gain knowledge.

[Yorubek]

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

I don't agree with your argument, I have a different opinion on this matter. A person does not need additional knowledge or additional money to start investing in Bitcoin, Along with basic vision, it is very important for a person to have a discretionary income. Slowly a person can gain specific knowledge about Bitcoin and become more aware of cash, as well as increasing their confidence in Bitcoin. There is nothing complicated about starting investing in Bitcoin for beginners, if you have self-confidence and interest in learning about Bitcoin, a person can gradually gain specific knowledge. Along with this, long-term investment is very important. By patiently investing in Bitcoin by following the right rules, you can make a profit in the long run.

[Tungbulu]

[Edited out]

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

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

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

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

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

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

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

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

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

From my own personal experience juggling my Bitcoin accumulation and side hustles, this is how i look at it. I beilieve my primary income should be able to cover my essential/core expenses like my rent, bills, food and other essentials that keeps me stable. Every other thing like passive income stream or side gigs is where i can flex and further grow the power of my discretionary spending.
But the catch there is that, not all extra incomes or side hustles are the same or created equally, some tend to be more time consuming, costs more transport or other gears than they are actually giving you, especially when you factor in the opportunity cost. Whenever I figure out that the job actually eats into my ability to invest my time in learning or acquiring other skills that may likely unlock higher returns for me in the future, then it's definitely a losing game for me and the best thing would be to just let it go so i can have the time to focus on other things too. And this is exactly the reason why i mostly tend to focus on scaling value than volume. rather stacking a bunch of low paying side gigs that'll only burn me out at the end of the day without giving me the due compensation, i tend to sort for other ways to level up, even if it means learning new skills that'd create more room for much higher paying/earning opportunity, or making some sort of strategic investments that tends to grow quietly in the background. And sometimes, it could require one to completely shut out short term cash in order to aim for a much bigger earning in the long term.
In the long run, it's mostly more a balance between maximizing one's cash flow and also preserving one's bandwidth to something that is way more sustainable, could be a business, a portfolio or even a career. Because i don't believe that an a particular income is actually worth it if it prevents or deprives you the time and energy to explore other better options and potentially grow your finance or income beyond the current point that you are.

[Jostern]

Understanding its potential is crucial from the outset. Realizing Bitcoin's immense profit-generating potential will spark interest in learning the basics. Learn what Bitcoin is, how to own it, and other fundamentals before proceeding. Everything we want to learn and explore further can be discovered throughout our investment journey, and once we experience the benefits, it will motivate us to continue accumulating more Bitcoin and achieving our long-term goals. This is why it's important to understand Bitcoin from the outset for the long term, giving us time to accumulate more Bitcoin, increase our knowledge, and increase our profits.

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

Many people especially beginners sometimes buy Bitcoin without thorough knowledge simply following trends especially now that Bitcoin is at a high price. However they won't be prepared for the high price fluctuations that can lead to panic. However if you have knowledge and have thoroughly studied Bitcoin when fluctuations occur they won't panic because they know that price fluctuations are perfectly normal and can even present opportunities to buy at a discount and hold for the long term. In short investing in Bitcoin requires not only knowledge but also mindset to ensure long term investment.

My dear pleb, it’s never safe to say when investing in bitcoin you’ll have get deep knowledge and understanding about bitcoin, are you literally saying I will have to wait and get all the necessary information and knowledge before I can start investing and building my portfolio, We all know that investing in bitcoin could be risky but not as much as not investing when you decide to acquire all the necessary knowledge like you said and then you keep missing out on opportunities to invest and accumulate bitcoin.

Beginners doesn’t require thorough knowledge before they could get started with bitcoin, if a newbie wants to start investing in bitcoin, it’s just having a discretionary income, and also know which exchanges are quite safe to buy and hold onto our Bitcoin, people knows that bitcoin is a volatile asset and if you want to buy and invest in bitcoin it’s more advisable to keep buying through DCA for a low discretionary income account, stay consistent and hold for a long time, then you can make a lot of progress from there, instead of waiting to get all the necessary knowledge like you said, which I think aren’t necessary.

When I started investing in bitcoin I didn’t require all the knowledge before I started, it was just as simple as having a discretionary income first, then I decided to start looking for a safe exchange where I can buy and hold my Bitcoin for a very long term, I didn’t just learn everything all at once, it was just a little by little process as I continue to invest then I was learning how to hold onto my bitcoin, and also having an emergency funds and a reserved funds along the line while I was still investing and holding.

[Cossyblack]

Understanding its potential is crucial from the outset. Realizing Bitcoin's immense profit-generating potential will spark interest in learning the basics. Learn what Bitcoin is, how to own it, and other fundamentals before proceeding. Everything we want to learn and explore further can be discovered throughout our investment journey, and once we experience the benefits, it will motivate us to continue accumulating more Bitcoin and achieving our long-term goals. This is why it's important to understand Bitcoin from the outset for the long term, giving us time to accumulate more Bitcoin, increase our knowledge, and increase our profits.

It's safe to say that when you're considering investing in anything, especially something as risky as Bitcoin, it's crucial to learn a deep understanding of it. This not only builds confidence in your investment, but also helps you expand your knowledge and increase your profits.

Many people especially beginners sometimes buy Bitcoin without thorough knowledge simply following trends especially now that Bitcoin is at a high price. However they won't be prepared for the high price fluctuations that can lead to panic. However if you have knowledge and have thoroughly studied Bitcoin when fluctuations occur they won't panic because they know that price fluctuations are perfectly normal and can even present opportunities to buy at a discount and hold for the long term. In short investing in Bitcoin requires not only knowledge but also mindset to ensure long term investment.

My dear pleb, it’s never safe to say when investing in bitcoin you’ll have get deep knowledge and understanding about bitcoin, are you literally saying I will have to wait and get all the necessary information and knowledge before I can start investing and building my portfolio, We all know that investing in bitcoin could be risky but not as much as not investing when you decide to acquire all the necessary knowledge like you said and then you keep missing out on opportunities to invest and accumulate bitcoin.

Beginners doesn’t require thorough knowledge before they could get started with bitcoin, if a newbie wants to start investing in bitcoin, it’s just having a discretionary income, and also know which exchanges are quite safe to buy and hold onto our Bitcoin, people knows that bitcoin is a volatile asset and if you want to buy and invest in bitcoin it’s more advisable to keep buying through DCA for a low discretionary income account, stay consistent and hold for a long time, then you can make a lot of progress from there, instead of waiting to get all the necessary knowledge like you said, which I think aren’t necessary.

When I started investing in bitcoin I didn’t require all the knowledge before I started, it was just as simple as having a discretionary income first, then I decided to start looking for a safe exchange where I can buy and hold my Bitcoin for a very long term, I didn’t just learn everything all at once, it was just a little by little process as I continue to invest then I was learning how to hold onto my bitcoin, and also having an emergency funds and a reserved funds along the line while I was still investing and holding.

Well said,I agree with your point except where you said Exchanges are safe to hold Bitcoin. I believe this is not the first time investors have been warned never to use centralize exchanges to Hold their Bitcoin assets because they can be hacked. Its fine if your using this exchanges to buy Bitcoin but it's not ideal to hodl because of the risks. Rather than Hodl your bitcoin stash with this exchanges where you don't have complete control over your asset,I prefer you start making use of a non custodian wallet to store you Bitcoin. A non custodian wallet is safer and it allows you to have complete control over your asset through your seedphrase.

[Alonso_]

I have not heard about this bullish accumulation of a thing and it is sounding like being passionate to accumulate Bitcoin against all odds. I hope I'm wrong but the right way to invest in Bitcoin is always with discretionary income to avoid a situation where you will have to sell Bitcoin to meet your basic needs, which is not a good thing to do. Even  though you may not have meet your accumulation goal in terms of the quantity of Bitcoin in your portfolio, it will be better to imbibe consistency than to rush the process since with time you will definitely meet the target. In other words, the concept of slow and steady wins the race.

If you are accumulating Bitcoins and want to hold them for long term then best approach is to accumulate them through discretionary income. WHILE YOUR JOB SALARY OR BUSINESS INCOME CAN BE USED TO MEET DAILY REQUIREMENTS. Why discretionary income is important is because it allows to dormant your Bitcoin for longer duration. Without discretionary income or if you are accumulating bitcoins with your salary then you might cash out your bitcoin in the long run, which completely destroys your plan of long term investment.

I totally agree with you when you said that if you want to accumulate Bitcoin and holding your Bitcoin in a longer term through the means of using a discretionary income and it occurs to me or draw my attention that the discretionary income you just mentioned above you don't have the full knowledge about what a discretionary income is all about, because if you know you can't be using your salary or business to meet your daily requirements, so i want to explain what a discretionary income is all about if you have forgotten so early, a discretionary income is an income gotten from your salary after all the payment of bills, so after the payment of bills what remain is the discretionary income than you still saying that you can use your salary or business for your daily requirements.

I think you misunderstood what @musaPK is saying what you should understand is that he is literally saying that you require a discretionary income to be able to invest in bitcoin, talking about business and paying for your expenses that is the source of an income and cashflow it’s always good to have different cashflow and from there you can have more discretionary income, it’s not like he is saying that you will invest from your salary instead discretionary income, so I don’t think there is anything confusing in his statement, just that you didn’t understand what he was saying before quoting him. Business and salary income can be used for other things like paying bills and as well as having emergency funds and reserved funds, then whatever is leftover could be the discretionary income meant for investing in bitcoin, it’s a simple logic.