Topic: Bitcoin kwoledge is not complete without bitcoin investment - page 15. (Read 3441 times)

Most people on the street generally should know their budget well enough to know if they are able to buy $10 per week with bitcoin.. and if they do not have $10 to get started, then maybe they better get their shit together and get $10 to buy their first bitcoin.. and just get the fuck started, and yeah, maybe such people start in a way that is very small and non-threatening to their budget and their psychology... and so maybe it takes several weeks before starting to become more comfortable with what it is that they are investing into, but if you do not have time to study bitcoin, then at least you do the basics in terms of getting started right away, and then when you do have time, then you can look into studying bitcoin some more and tweak the BTC accumulation plan..

and another thing, everyone is responsible for their own choices regarding whether or not to buy bitcoin and if so how much to buy and how to go about it... so if some people are not comfortable enough to figure out how to buy bitcoin then those would be the first things to figure out and once they figure it out, then execute.. and just like OP said, getting started makes it much more concrete to be paying attention regarding learning and removes bitcoin from the theoretical and into the practical.. .. and  if you fuck up by buying $10 of bitcoin, don't come crying to me.. and also if you fuck up by not buying $10 right away, then at some point down the road, I will tell you, "I told you so."

Hey, I always love to read your long post which I enjoy reading it.
By the way, speaking of the accumulation plan is the right step when you want to start investing in Bitcoin and I tend to agree with you that starting small, like with any investment, can be a good step.  It allows us to dip our toes in the water without causing possible financial stress or anxiety.  It might take several weeks or even months before someone becomes more comfortable with the concept of investing in Bitcoin, both in terms of their budget and their psychological readiness.

Is there anyone who invests all their earnings in Bitcoin only? I don't think so. You are correct if someone invests only in Bitcoin and doesn't invest in anything other than it. Then, they will have to rely on Bitcoin only. But who does this thing? Investing all your earnings only in Bitcoin is a crazy idea. If someone saves a thousand dollars, I would suggest they invest only 10 to 20 percent of their savings in Bitcoin. This is not too low and not too big. If someone invests a significant portion of their income and does not have other savings, they won't be able to hold it for a long time. They will have to sell their Bitcoin for emergencies and even daily needs. So, make it like you don't have to touch your Bitcoin.

I am not suppose to say this here but i want forum members to advice and tell me on how I can go with my bitcoin journey as a newbie and become successful in it without losing my bitcoin. My Dad is late and he left us a building which I and my siblings inherited. I rented my own apartment because I stay in a more civilized area. Whenever my tenant pays me my rent, I just keep the money in the bank and sometimes it stays there for more than six months in my account because I have a job that takes care of my responsibilities. This year when I joined this forum, after reading through topics and comments from forum users on bitcoin investment, I said to myself that it will be wise if i give bitcoin investment a trial and see how it will feel like holding a bitcoin.

Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest. I continued with my forum activities and kept on reading, at a point, I got to realize that what will I gain, if I have the knowledge of bitcoin and I don't invest in it to have the experience on using bitcoin and to also have the experience of holding in long term, so that i can talk about bitcoin from experience. This means that it is important for me to buy bitcoin to acquire more knowledge,and this will be an advantage for me  to buy bitcoin now that the price is dip, before it pumps back. Yesterday, I used 60% of the money my tenant paid me to buy bitcoin and I was relieved and happy. I have also created an electrum wallet which I have transfered my coins into, the reason why I chose electrum wallet because it is noncustodial with RBF and Ligthening Network features, which can allow you to double spend,incase the network is congested and your transaction fee is low,since sometimes bitcoin blockchain used to be congested with dust transactions.

I intend to hold by bitcoin for long, because I just started my bitcoin journey and, I know that it isn't going to be an easy one for a newbie like me. I will use 10% of my income to DCA every month, because I also noticed that fiat currency is depreciating due to inflation and that it is better that I save in bitcoin than to keep it in fiat. The moment my bitcoin reaches $1000, I will look on how to transfer my coins to a cold storage wallet for safety. I couldn't keep this to myself and I said let me bring this to the forum for advise from experienced members on precautions I need to take for me to achieve my bitcoin goal target.

If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.

Let's discuss.

Great point mate. Knowledge about Bitcoin never compels a person to invest in Bitcoin. Bitcoin is a digital currency.  Anyone with knowledge of which will understand its uses, and also its future prospects. In that case he is not bound to invest. Investment is a big thing because it involves financial situation. Everyone wants to invest and make profit. And that's why real investors take some time and do a lot of analysis to invest without panic investing. So after learning about Bitcoin there is no obligation to invest in Bitcoin. But before investing in Bitcoin it is definitely mandatory to gain knowledge about Bitcoin.  Otherwise Bitcoin cannot be held securely

..then you can look into studying bitcoin some more and tweak the BTC accumulation plan..

..if you fuck up by not buying $10 right away, then at some point down the road, I will tell you, "I told you so."

Preparing the best plan before we step into any field is always going to be the best thing and very good. As is the case in investing in bitcoin, such preparation is very necessary from the start, as you say it is very true and maybe only some of those fools who are too desperate by coming without any planning and fishing gear, they only think for profit without bringing any way to be able to achieve it. But well I say basically there are also some of them who bring their best plans but in the end always violate some of the parameters they have set, and end up losing, it is very possible and not uncommon. It's quite difficult to maintain wisdom throughout the journey, because like humans, sometimes it's easier said than done. And I think some of their deviant desires can really disrupt their plans that have been built very well, such as greed and being tempted by some moments that seem very promising when it is just a temptation to stop them on their way to greater profits in the future.

Building a plan with fundamental techniques is very good, but in fact not all can do that way because as I said above, there are so many temptations on the way, and also unexpected things can happen that will certainly make them confused between holding it until the target is reached or selling it too early to be able to overcome the problems that come suddenly. And yeah like you said, the 50-year plan is pretty good, but maybe after just a few months we might change our mind. So the point is that we should think about the best plan very carefully before starting it.

That does appear to be a good point to highlight.

When any of us creates an investment plan, whether that is in bitcoin or any other investment, hopefully we are setting some parameters for ourself right from the beginning, yet even if we set parameters, we should still make sure that we invest in such a way that we retain discretion and we are not locked into our investment, even if we initially intend that our investment might be for 50 years or longer, we might change our mind after 5 months and decide to abandon the whole project, unless we locked ourselves into some kind of a system in which we are not able to get out.  Bitcoin does not come naturally built with such a system of locking in, so we would have to take extra steps if we were to want to lock ourselves in or even if we were to "accidentally" lock ourselves in by creating some kind of timelock or some other way of carrying out some kind of a non-default execution (way of holding bitcoin).

If you consider Bitcoin as part of your life, you will have to depend on Bitcoin all your life if you only have Bitcoin, and that doesn't mean you won't sell it at all for 10 years.
I mean, make Bitcoin a goal to help you in various stages of your life.

I agree with some things you have said, but I think it won't be ideal to say that "you will have to depend on Bitcoin all your life.

Well, while investing in Bitcoin, we have different goals that we wish to achieve when our investment generates the expected APY. But we don't just invest in Bitcoin today and begin to reap the profit the next day; rather, Bitcoin is an investment that takes a long time or short-long time to generate a good volume of profit, depending on how much the person has invested. 

If someone invests in Bitcoin and only depends on it for the rest of their life and perhaps on every desire or expense, they might not even be able to hold it until they get a huge profit to achieve a solid goal. But though every investor usually has a reason or goal for why they are investing in Bitcoin, some people want to hold it for the next 10 years, while others just want to earn some percentage of the profit from their invested amount so they can use the profit to do something meaningful. With Bitcoin investment, you can still do other things that will fetch you more money.

If you consider Bitcoin as part of your life, you will have to depend on Bitcoin all your life if you only have Bitcoin, and that doesn't mean you won't sell it at all for 10 years.
I mean, make Bitcoin a goal to help you in various stages of your life. Just like a wedding, and this should be part of your plans because weddings cost money and you can use the profits or part of the profits from Bitcoin after it reaches its highest price to prepare and plan.
And after that you still need other costs such as housing and equipment, then birth costs and so on for 10 years that you have to think about, including sick costs and other unexpected costs. So the best option is to treat Bitcoin for your future or old age, and also help your essential needs if you really need it by taking advantage of some of the profits from Bitcoin and without abandoning your DCA strategy. And my advice is to always take advantage of a downturn to increase your purchases, and reduce them when another rise occurs.

That's the toxic thing about people who gambling, of course not all of them I'm talking about some gambler, they know there's no guarantee they would win big time and eventually would lose money still they choose to gamble the money they have. Dealing problems with a past time that could get you addicted and could worsen your situation more it's not a good way of dealing problems, maybe this would be applicable for people who's financially stable and rich. If you're just gambling just to escape reality then that's the worse, it's like an alcoholic person reasoning why he's addicted to drinking due to they want to distract themselves from their own problems.

Leave the experimental side of investment for the later, I spend months after months for learning Bitcoin and other necessary things, if you lack money you will have to work or get a job first before you can invest in Bitcoin, so it's not something everyone can rush.

I used almost a year to learn about bitcoin and I have never thought of wasting my time because I don't have money to invest yet, those who don't have money are still welcome to participate in crypto, they can start with testnet experiments or move into airdrops, there are still free ways of earning coins so having money doesn't mean you are not welcome.

Some people have all the money,  such people are still not fit to invest in Bitcoin because they don't have the knowledge, either you have the money or not, you have to seek for knowledge first.

Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest.

I was relieved and happy.

That's the toxic thing about people who gambling, of course not all of them I'm talking about some gambler, they know there's no guarantee they would win big time and eventually would lose money still they choose to gamble the money they have. Dealing problems with a past time that could get you addicted and could worsen your situation more it's not a good way of dealing problems, maybe this would be applicable for people who's financially stable and rich. If you're just gambling just to escape reality then that's the worse, it's like an alcoholic person reasoning why he's addicted to drinking due to they want to distract themselves from their own problems.

Knowledge will always bring power no matter what. Even if you don’t use it to invest at the moment but the fact that you utilize it to influence others, that will never go into waste. And when those people whom you’ve educated and influenced at the same time have start using them through investing, then it’s like those knowledge have been very useful for them.

everyone has their own path. know that not everyone who gambles thinks they will get a changed future by betting. most already know they will lose more than what they gain from gambling. but why do they still continue to gamble? everyone has their own way of dealing with problems. Gambling may be considered a problem for some people. but others go to casinos to have fun.
I gamble, I invest in Bitcoin, and I also trade. There is nothing wrong when you have a way of managing your finances well.

In my opinion, only those who are stupid waste the opportunity to start investing, even though it is clear that great opportunities are in front of their eyes but they prefer to keep themselves busy just gambling for example. Believe me it's just a waste of your time and money and there is no significant return (profit) if you only depend on gambling which will only worsen your condition.

I think it it quite common that either people do not have enough because they failed to plan and to take actions and maybe even they were too busy gambling rather than investing and believing that their gambling amounted to a kind of investment, and then it did not end up paying off.

Sure sometimes they might be to blame, but sometimes they might have some misfortunes too... so there can be a lot of reasons that people might feel that they are "starting" or "starting over" at a very late age.

I am not suppose to say this here but i want forum members to advice and tell me on how I can go with my bitcoin journey as a newbie and become successful in it without losing my bitcoin. My Dad is late and he left us a building which I and my siblings inherited. I rented my own apartment because I stay in a more civilized area. Whenever my tenant pays me my rent, I just keep the money in the bank and sometimes it stays there for more than six months in my account because I have a job that takes care of my responsibilities. This year when I joined this forum, after reading through topics and comments from forum users on bitcoin investment, I said to myself that it will be wise if i give bitcoin investment a trial and see how it will feel like holding a bitcoin.

Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest. I continued with my forum activities and kept on reading, at a point, I got to realize that what will I gain, if I have the knowledge of bitcoin and I don't invest in it to have the experience on using bitcoin and to also have the experience of holding in long term, so that i can talk about bitcoin from experience. This means that it is important for me to buy bitcoin to acquire more knowledge,and this will be an advantage for me  to buy bitcoin now that the price is dip, before it pumps back. Yesterday, I used 60% of the money my tenant paid me to buy bitcoin and I was relieved and happy. I have also created an electrum wallet which I have transfered my coins into, the reason why I chose electrum wallet because it is noncustodial with RBF and Ligthening Network features, which can allow you to double spend,incase the network is congested and your transaction fee is low,since sometimes bitcoin blockchain used to be congested with dust transactions.

I intend to hold by bitcoin for long, because I just started my bitcoin journey and, I know that it isn't going to be an easy one for a newbie like me. I will use 10% of my income to DCA every month, because I also noticed that fiat currency is depreciating due to inflation and that it is better that I save in bitcoin than to keep it in fiat. The moment my bitcoin reaches $1000, I will look on how to transfer my coins to a cold storage wallet for safety. I couldn't keep this to myself and I said let me bring this to the forum for advise from experienced members on precautions I need to take for me to achieve my bitcoin goal target.

If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.

Let's discuss.