Buy the DIP, and HODL! - page 53. | Bitcointalksearch.org

boyptc

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Quote from: Raflesia on October 28, 2024, 01:32:48 PM

Quote from: boyptc on October 28, 2024, 12:48:50 PM

Others are distinguishing it that investing in Bitcoin is like a shortcut of it. You just buy and hold and you don't have to worry about anything.

That's also my thinking but then, for generalization of investing. It's still recommended to the investors that are about to make their first investment with Bitcoin to learn the basics of it.

We do trust bitcoin and I'm holding it and keeps on investing on it. But for the newbies, it's their choice to do it without proper knowledge and just learn it through the process.

That's just a rough conversation because in the end there is nothing that short when talking about investing so in the end I am still very opposed to some opinions that say that bitcoin is a shortcut to get an instant profit because this mindset is a mindset that does occur for people who sometimes do not know the process and how to be in bitcoin.
The fact that happens in bitcoin is not just buying and holding and selling when you are already profitable, although in outline it may be justified but in the end investment is not that simple and it takes a long time to achieve the realization or goals we want to achieve because for now bitcoin is a bridge for several people including me in smoothing out financial freedom plans so that buying, holding and selling seem trivial to me.

When talking about choices, everything is the same because we cannot classify beginners or old-timers, all have the same rights where the choice is in their own personal hands. It's just that in this case as an initial suggestion of course bitcoin is the right place or the first choice that should be thought of.

We can classify old timers and beginners.

The old timers will give good advise that a beginner shouldn't dive in unprepared but that's how many of us have met Bitcoin.

We've come unprepared but still we learned it eventually. While we pass on those tips, they have the choice to do it as they wish to without knowing that much and in depth understanding of the basics.

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Quote from: boyptc on October 28, 2024, 12:48:50 PM

Others are distinguishing it that investing in Bitcoin is like a shortcut of it. You just buy and hold and you don't have to worry about anything.

That's also my thinking but then, for generalization of investing. It's still recommended to the investors that are about to make their first investment with Bitcoin to learn the basics of it.

We do trust bitcoin and I'm holding it and keeps on investing on it. But for the newbies, it's their choice to do it without proper knowledge and just learn it through the process.

That's just a rough conversation because in the end there is nothing that short when talking about investing so in the end I am still very opposed to some opinions that say that bitcoin is a shortcut to get an instant profit because this mindset is a mindset that does occur for people who sometimes do not know the process and how to be in bitcoin.
The fact that happens in bitcoin is not just buying and holding and selling when you are already profitable, although in outline it may be justified but in the end investment is not that simple and it takes a long time to achieve the realization or goals we want to achieve because for now bitcoin is a bridge for several people including me in smoothing out financial freedom plans so that buying, holding and selling seem trivial to me.

When talking about choices, everything is the same because we cannot classify beginners or old-timers, all have the same rights where the choice is in their own personal hands. It's just that in this case as an initial suggestion of course bitcoin is the right place or the first choice that should be thought of.

boyptc

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Quote from: Sobz on October 26, 2024, 05:17:03 PM

Quote from: boyptc on October 26, 2024, 05:05:32 AM

Yeah, that's what I am saying about basic knowledge. Understanding that Bitcoin is moving quickly and prices vary from time to time.

It's true that they can buy and just understand it later. But in general speaking about investing, someone shouldn't get into an investment that they don't totally understand even the basics of it.

The first investment in any investment is to invest in learning to have a better understanding. When there is no knowledge about a particular investment it means you are investing in nothing, it doesn't even matter if what you are using to invest is much. When their is no knowledge in an investment it is possible to be at last which the investment won't be even productive. Knowledge carries the information one is suppose to know concerning an investment and if the knowledge is not there it means one knows nothing.

Others are distinguishing it that investing in Bitcoin is like a shortcut of it. You just buy and hold and you don't have to worry about anything.

That's also my thinking but then, for generalization of investing. It's still recommended to the investors that are about to make their first investment with Bitcoin to learn the basics of it.

We do trust bitcoin and I'm holding it and keeps on investing on it. But for the newbies, it's their choice to do it without proper knowledge and just learn it through the process.

Ryu_Ar1

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Quote from: asarfiar on October 25, 2024, 08:51:06 AM

As an example, let's say you have a monthly income of $120, from which you can invest $80 in other activities and the remaining $40 in Bitcoin. have the attitude that you will invest $40 a month regardless of the ups and downs. And if you have other means of earning money then you can increase the rate of Bitcoin investment.

The percentage means making about 35 percent of the total income we make to be invested?
Even though it is a very good thing but we have to keep in mind other situations and conditions because for the initial 35 percent for DCA I think it is quite difficult to do because after all even though maybe for the first week or month it can still be done but of course this will be a little troublesome in terms of consistency because we cannot handle this large amount if our income remains at $120.
I think it's still good enough if we only allocate at least 20 percent-25 percent because it's possible we can still minimize in terms of needs but for 35 percent it could be torturing yourself even though being in bitcoin is a very good thing to do but forcing yourself because you need to remember that this takes a long time at least 4 years or even more so that with a nominal 35 percent of your income it is still very large in my opinion.

Mayor of ogba

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Quote from: asarfiar on October 25, 2024, 08:51:06 AM

Quote from: sotelorene on October 24, 2024, 04:18:39 AM

Quote from: As-Soon-As on October 23, 2024, 06:08:37 PM

Quote from: Greyhats on October 23, 2024, 05:09:57 PM

Hope everyone bought the dip, might be the last time we see 65k for a while!

Due to lack of funds and dip wise my investment did not come due to which I could not purchase. But I have my dip purchase date on 25,10,2024, because the emergency fund I had is very small.
So currently could not buy this 65K dip at most, only 2 more days will be available so I can buy the right dip at the right time.

What makes you think there's going to be a dip on the 25th of October 2024 or are you just guessing?. You are begining to sound like a newbie who doesn't understand how Bitcoin works while you are a Full Member in the forum, though nothing is impossible I mean Bitcoin is a very volatile asset and it can be possible that it may dip on the 25th but that's not how to go about Bitcoin investment, if you really want to increase your portfolio you shouldn't be waiting for dip before you invest and also stop specifying dip date because you may be disappointed. DCA method is very much effective, you don't need to have enough funds before you accumulate and I don't think there's any specific amount while DCAing rather our investment money depends on what we get weekly or monthly that is to say that there can be a decrease or increase in our weekly or monthly income.

Bitcoin wealth is a volatile one yet it continues its momentum like a constant stream. If we look at the Bitcoin market structure, we can see its volatility which you and I can be relatively depressed by.

I'm not depressed by the volatile part of bitcoin because I knew about it before I started investing in it, and I used the money I will not need for a long time to invest in bitcoin so that I will not be worried or get depressed if bitcoin dips or sell my bitcoin at a loss to survive. This is why it is important to invest in bitcoin in such a way you will not find it difficult to solve your daily expenses or want to sell your bitcoin even though you are at a loss just because you are depressed by the volatile part of bitcoin.

Quote

As an example, let's say you have a monthly income of $120, from which you can invest $80 in other activities and the remaining $40 in Bitcoin. have the attitude that you will invest $40 a month regardless of the ups and downs. And if you have other means of earning money then you can increase the rate of Bitcoin investment.

I think it is not right for someone who is earning $120 a month to invest $40 in bitcoin monthly because $80 will not be enough to take care of his monthly expenses, and the person will need to build his emergency funds along as he is accumulating bitcoin, which will make the $80 not last long after emergency funds have been removed. If we must invest in bitcoin aggressively, we should do it in a way that will not affect us in solving our daily expenses, which might make us get off the game, partially or permanently.

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Quote from: Ruttoshi on October 27, 2024, 10:40:55 PM

Quote from: Jewan420 on October 27, 2024, 10:12:17 PM

Quote from: ginsan on October 27, 2024, 06:12:18 PM

Yes, that's very right, Investing in bitcoin without in-depth knowledge will not be a big problem because every new investor must know bitcoin from their friends or from social media, when the first purchase is made that is the initial stage for them to approach bitcoin. As you said, early investors do not understand bitcoin, but they buy and hold and their knowledge will increase throughout the journey day by day.

That also applies to new investors, they want to invest in bitcoin, even though they do not understand much about bitcoin but they have a lot of time to learn about bitcoin.
The investor's journey in investing in bitcoin only needs to know about the initial steps, namely buying on a trusted exchange and withdrawing it to a personal wallet, that's enough for the initial stage before they learn along with the accumulation they do.

Even if they don't know these initial steps or can't do the initial steps themselves, they can enter the investment through a trusted friend/reliable person. Basically when you plan or decide to invest you should not delay at all. But you must be an expert and learn the basics very soon. Because you should not depend on others for a long time.

Later when you are able to acquire basic knowledge and can make your own purchases then you should continue to try to gain knowledge about Bitcoin, because in order to manage investment you need to know what Bitcoin is and how to invest in Bitcoin and when to take action. I consider it essential to gain knowledge on the subject.

I disagree with you that a brand new investor that want to start his bitcoin investment shouldn't have the basic knowledge of bitcoin before investing. This is strange because how will you invest on something that you have zero knowledge on. To have the basic knowledge of bitcoin i very important for anyone that wants to start his bitcoin investment because it is simple, and this is why it is encouraged that you need the basic knowledge for you to invest, because you can learn as you are investing since it is a long term investment, rather than waiting to have the concrete knowledge before investing.

Bitcoin investment is not like a traditional investment that takes time before you can understand the business before setting it up. Bitcoin investment is learn as you buy, and keeping on learning and buying. Whoever does not learn the basic of bitcoin before investing is not serious and dumb because you can learn the basics on the internet.

Learning the basic doesn't take you much as a Bitcoin enthusiast, I mean you ought to have heard something sometimes that caught your interest before starting up one day that you would invest in Bitcoin and that feeling alone is the stepping stone. The basic about Bitcoin isn't hard to get access to that's if you have the internet ofcourse, I mean it doesn't take much to understand the general principle of investment which is saving money long term for profit which is same with Bitcoin.

There are some key principle and knowledge you get to know along the way in your Bitcoin investment journey which is important so you don't fuck everything up but the major step firstly to take is actually getting to start up the investment because I feel waiting to gather all vital knowledge before investment is somehow like procrastinating cause fear of doing the wrong thing will just keep you away from buying and the longer you wait to be perfect the more opportunities you get to miss out.

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Quote from: temple on October 28, 2024, 06:40:57 AM

Quote from: Scarlett_23 on October 25, 2024, 11:57:24 PM

Quote from: temple on October 22, 2024, 06:41:21 PM

Bitcoin alone holds itself in a strong position in the long term. Altcoins can't hold their position in that way for long. Bitcoin can return to its maximum ATH at any time. People often fall into a state of confusion during ICO. They are confused with attractive white papers. People buy these coins hoping to make more profit and face losses. They steal huge amount of money by tricking common people. Bitcoin Pow is fair and realistic where miners do what is best for the network. Finally let me say that Bitcoin is a completely decentralized institution and completely different and risk free from other coins.

You are confusing confusion with greed. It is not because people are confused that they try to grab money via an ICO investment. It is because they are greedy to the point that they are willing to give up on their value positions, aka BTC. They tell themselves that it's only for a short period of time to flip the money for the better, but in most cases it is going wrong. Some get lucky of course, but those lucky guys shouldn't be taken as a precedent for others to do the same.

I believe not. OR not entirely. "Greed" is only part of the reason, but that's the wrong word to use in my personal opinion. It's because it's in our nature as humans to feel the need to be incentivized, therefore we have an urge to GAMBLE. Plus from the a normie's viewpoint, our investments in Bitcoin is a gamble on a "Ponzi Scheme" caused by greed. Haha.

¯\_(ツ)_/¯

temple

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Quote from: Scarlett_23 on October 25, 2024, 11:57:24 PM

Quote from: temple on October 22, 2024, 06:41:21 PM

Bitcoin alone holds itself in a strong position in the long term. Altcoins can't hold their position in that way for long. Bitcoin can return to its maximum ATH at any time. People often fall into a state of confusion during ICO. They are confused with attractive white papers. People buy these coins hoping to make more profit and face losses. They steal huge amount of money by tricking common people. Bitcoin Pow is fair and realistic where miners do what is best for the network. Finally let me say that Bitcoin is a completely decentralized institution and completely different and risk free from other coins.

You are confusing confusion with greed. It is not because people are confused that they try to grab money via an ICO investment. It is because they are greedy to the point that they are willing to give up on their value positions, aka BTC. They tell themselves that it's only for a short period of time to flip the money for the better, but in most cases it is going wrong. Some get lucky of course, but those lucky guys shouldn't be taken as a precedent for others to do the same.

There is a website listing the dead coins and as far as I can tell the website is by no means up to date. It says that a little less than 2,000 coins are dead by now, but I guarantee that number must be significantly higher. It's in the thousands for sure and it is more than 2,000 no doubt.

I would never give up on BTC holdings to get into an ICO. If anyone ever considers an ICO, rather do it with disposable income. Do not liquidate BTC as there is risk on all fronts. BTC could go up in the meantime and you lose out. The ICO (99.9% likely) fails and you lose it all. Your money is stuck because the ICO says the project launches in January but they didn't mention the specific year... Tongue

you get the sarcasm. Many issues and then you are angry with yourself because you used the most precious of your portfolio to buy the biggest bullshit.

adultcrypto

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Quote from: MusaPk on October 28, 2024, 05:36:20 AM

Quote from: JayJuanGee on October 26, 2024, 01:44:39 PM

Sure people should try not to be stupid, since no one should want to lose any money, even if it is ONLY $10.. yet if they start with a small amount, then their security should be in line with the amount invested, and realizing that if they hold coin with a third party then there are various kinds of risk but also that if the bitcoin gets stolen (like through a hacked account), then it is likely that the transaction is irreversible if the hacker takes the bitcoin, even if the bitcoin is with a third party.. At the same time, holding private wallets can also be complicated, including if the bitcoin are held on a hot wallet versus a cold wallet.

These matters of the various kinds of wallets need not be learned prior to getting started, since getting started is one of the most important things. and yeah, there is a difference between the incomes of people in regards to how much security that they might feel that they need based on their income and/or their other resources, so there is a difference between investing $10, versus $100, versus $10k versus $500k or some other amounts...and yeah, sometimes there needs to be extra security to account for potential changes in value.. since for example, even in 2020/2021, there might have been some guys who might have been somewhat lax in their security if they had $8k invested or in a wallet, but then after the BTC price went from $7k to more than $60k their $8k might have all of a sudden turned into $70k-ish.. and similarly in 2017 (although that is further back in history, when $5k to $8k might have been in some wallets and the BTC price was around $250-ish in mid to late 2015 - yet by late 2017, the BTC price went up nearly 78x, so that $5k to $8k would have turned into $390k to $624k, and so that would have been an even more extreme example how the security should have been more important, since maybe a person might have been o.k. to keep $5k to $8k on their phone.. even though that seemed a bit much, but then if the amount turned into $390k to $624k.. then they might have become quite nervous since maybe their whole networth might have been less than $50k and then all of a sudden their whole networth goes up 8x to 10x or more and much of their value is on their phone, which would not have had been a very good and/or secure place to be. .even though I think some folks did find themselves in those kinds of situations in 2017.. and their security did not keep up with the size/value appreciation of their BTC holdings.

Not many take Bitcoin security serious unless they lose Bitcoin by becoming victim of hacking or through other scams. There are many security measures available but it largely depends on how serious your are in securing your Bitcoin. If someone is serious in Bitcoin security then he will defiantly learn ways on how to secure his Bitcoins whether it's 100$ or 100k$. We don't know when our 100$ will become 1000$ because of Bitcoin volatility. One must keep this in mind that we constantly need to upgrade our security measures all the time. Hackers are defiantly more interested in 1000$ but that doesn't mean that they will spare 100$. Think from that perspective.

Security the bitcoin investment is the most crucial aspect of the business because without proper security, the whole effort of buying and holding can be brought to ruins. In other words, security of the asset is among the first things everyone should learn before getting started because scammers are becoming very smart and sophisticated these days. Unfortunately, many people still do not take the issue of security seriously just like you have rightly stated. This is the reason we still have people who store their assets in centralized exchanges, forgetting the importance of self-custody.

I don't think that the level of security an investor should employed should depend on the amount invested in bitcoin because every money is important. $100 to some people might be like $1 million for some people so both cases require maximum care to the security of the asset. The first is to learn about self custodian wallets and how not to share secret information to the public. Another is also not to click on random links to avoid phishing and other security threats. There are other measures the investor must employ to remain safe.

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Quote from: JayJuanGee on October 26, 2024, 01:44:39 PM

Sure people should try not to be stupid, since no one should want to lose any money, even if it is ONLY $10.. yet if they start with a small amount, then their security should be in line with the amount invested, and realizing that if they hold coin with a third party then there are various kinds of risk but also that if the bitcoin gets stolen (like through a hacked account), then it is likely that the transaction is irreversible if the hacker takes the bitcoin, even if the bitcoin is with a third party.. At the same time, holding private wallets can also be complicated, including if the bitcoin are held on a hot wallet versus a cold wallet.

These matters of the various kinds of wallets need not be learned prior to getting started, since getting started is one of the most important things. and yeah, there is a difference between the incomes of people in regards to how much security that they might feel that they need based on their income and/or their other resources, so there is a difference between investing $10, versus $100, versus $10k versus $500k or some other amounts...and yeah, sometimes there needs to be extra security to account for potential changes in value.. since for example, even in 2020/2021, there might have been some guys who might have been somewhat lax in their security if they had $8k invested or in a wallet, but then after the BTC price went from $7k to more than $60k their $8k might have all of a sudden turned into $70k-ish.. and similarly in 2017 (although that is further back in history, when $5k to $8k might have been in some wallets and the BTC price was around $250-ish in mid to late 2015 - yet by late 2017, the BTC price went up nearly 78x, so that $5k to $8k would have turned into $390k to $624k, and so that would have been an even more extreme example how the security should have been more important, since maybe a person might have been o.k. to keep $5k to $8k on their phone.. even though that seemed a bit much, but then if the amount turned into $390k to $624k.. then they might have become quite nervous since maybe their whole networth might have been less than $50k and then all of a sudden their whole networth goes up 8x to 10x or more and much of their value is on their phone, which would not have had been a very good and/or secure place to be. .even though I think some folks did find themselves in those kinds of situations in 2017.. and their security did not keep up with the size/value appreciation of their BTC holdings.

Not many take Bitcoin security serious unless they lose Bitcoin by becoming victim of hacking or through other scams. There are many security measures available but it largely depends on how serious your are in securing your Bitcoin. If someone is serious in Bitcoin security then he will defiantly learn ways on how to secure his Bitcoins whether it's 100$ or 100k$. We don't know when our 100$ will become 1000$ because of Bitcoin volatility. One must keep this in mind that we constantly need to upgrade our security measures all the time. Hackers are defiantly more interested in 1000$ but that doesn't mean that they will spare 100$. Think from that perspective.

Zackz5000

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Quote from: Jewan420 on October 27, 2024, 10:12:17 PM

Quote from: ginsan on October 27, 2024, 06:12:18 PM

Yes, that's very right, Investing in bitcoin without in-depth knowledge will not be a big problem because every new investor must know bitcoin from their friends or from social media, when the first purchase is made that is the initial stage for them to approach bitcoin. As you said, early investors do not understand bitcoin, but they buy and hold and their knowledge will increase throughout the journey day by day.

That also applies to new investors, they want to invest in bitcoin, even though they do not understand much about bitcoin but they have a lot of time to learn about bitcoin.
The investor's journey in investing in bitcoin only needs to know about the initial steps, namely buying on a trusted exchange and withdrawing it to a personal wallet, that's enough for the initial stage before they learn along with the accumulation they do.

Even if they don't know these initial steps or can't do the initial steps themselves, they can enter the investment through a trusted friend/reliable person. Basically when you plan or decide to invest you should not delay at all. But you must be an expert and learn the basics very soon. Because you should not depend on others for a long time.

Later when you are able to acquire basic knowledge and can make your own purchases then you should continue to try to gain knowledge about Bitcoin, because in order to manage investment you need to know what Bitcoin is and how to invest in Bitcoin and when to take action. I consider it essential to gain knowledge on the subject.

You don't need to be an expert before going into Bitcoin investment when it comes to Bitcoin investment I don't think anybody is an expert because as an expert you must know when Bitcoin will dip and when the price will go higher too it is important to have some basic knowledge about Bitcoin investment but not trying to figure out everything about Bitcoin before starting your Bitcoin investment journey for you can get started and figure out more about Bitcoin when you are already into it.
Bitcoin investment doesn't require you to be an expert before starting Bitcoin investment.

EclipseXcrypto

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Quote from: Ruttoshi on October 27, 2024, 10:40:55 PM

Quote from: Jewan420 on October 27, 2024, 10:12:17 PM

Quote from: ginsan on October 27, 2024, 06:12:18 PM

Yes, that's very right, Investing in bitcoin without in-depth knowledge will not be a big problem because every new investor must know bitcoin from their friends or from social media, when the first purchase is made that is the initial stage for them to approach bitcoin. As you said, early investors do not understand bitcoin, but they buy and hold and their knowledge will increase throughout the journey day by day.

That also applies to new investors, they want to invest in bitcoin, even though they do not understand much about bitcoin but they have a lot of time to learn about bitcoin.
The investor's journey in investing in bitcoin only needs to know about the initial steps, namely buying on a trusted exchange and withdrawing it to a personal wallet, that's enough for the initial stage before they learn along with the accumulation they do.

Even if they don't know these initial steps or can't do the initial steps themselves, they can enter the investment through a trusted friend/reliable person. Basically when you plan or decide to invest you should not delay at all. But you must be an expert and learn the basics very soon. Because you should not depend on others for a long time.

Later when you are able to acquire basic knowledge and can make your own purchases then you should continue to try to gain knowledge about Bitcoin, because in order to manage investment you need to know what Bitcoin is and how to invest in Bitcoin and when to take action. I consider it essential to gain knowledge on the subject.

I disagree with you that a brand new investor that want to start his bitcoin investment shouldn't have the basic knowledge of bitcoin before investing. This is strange because how will you invest on something that you have zero knowledge on. To have the basic knowledge of bitcoin i very important for anyone that wants to start his bitcoin investment because it is simple, and this is why it is encouraged that you need the basic knowledge for you to invest, because you can learn as you are investing since it is a long term investment, rather than waiting to have the concrete knowledge before investing.

Bitcoin investment is not like a traditional investment that takes time before you can understand the business before setting it up. Bitcoin investment is learn as you buy, and keeping on learning and buying. Whoever does not learn the basic of bitcoin before investing is not serious and dumb because you can learn the basics on the internet.

The initial step is all you need to get going with your bitcoin investment. Starting an investment in bitcoin is not that difficult or complicated, you just need to start up immediately. Someone can make an initial purchase without deep knowledge as they invest they will likely be motivated to learn. The important thing is that their investment can make them seek out for information they need to make better decisions, once that first step is taken there will be motivation to learn and make better investment decisions along the way.

Most people that are into Bitcoin might not have much knowledge at first but as they engage in Bitcoin investment, It’s like the more you invest, the more you want to learn about what you’re investing in. Just know how to buy and begin your investment process.

Rockstarguy

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Quote from: Stablexcoin on October 26, 2024, 06:18:32 AM

Quote from: boyptc on October 26, 2024, 05:05:32 AM

Yeah, that's what I am saying about basic knowledge. Understanding that Bitcoin is moving quickly and prices vary from time to time.

It's true that they can buy and just understand it later. But in general speaking about investing, someone shouldn't get into an investment that they don't totally understand even the basics of it.

At least a little understanding is very necessary because they cant start investing if they do not know the safest exchange and how to buy it form them and send it to their wallet. The process of buying and storing should be the most important thing they learn fast then how to manage their investment and other knowledge can be learned later. It's just like going to cultivate without any tool, while it's essential to have a tool and know how to use it manually before thinking of buying bigger engines that can facilitate and modify the process.

I see any other knowledge that we ought to learn after investing as sustainable knowledge. That is what triggers us to hold on to our investment as long as we want to.

One of the principal things that needs to be understood is to have the understanding of exchanges are not reliable and if one must buy it must be exchange that is well recognised, and bitcoin must be sent to self custodial wallet immediately. And one needs to also have the understanding that the market is volatile and can't be predicted, so that when investing bitcoin you don't need to have expectation from the market. There is also need to understand investing in Bitcoin must be long-term because it is not possible for one expect good profit in a short time, profit can only be made if one hodl bitcoin.

Another thing that needs to understand their is no perfect time to invest bitcoin, the more you wait to invest the opportunity to miss and yo don't need to wait to save huge sum of money but can start with DCA method of investing.

Ruttoshi

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Quote from: Jewan420 on October 27, 2024, 10:12:17 PM

Quote from: ginsan on October 27, 2024, 06:12:18 PM

Yes, that's very right, Investing in bitcoin without in-depth knowledge will not be a big problem because every new investor must know bitcoin from their friends or from social media, when the first purchase is made that is the initial stage for them to approach bitcoin. As you said, early investors do not understand bitcoin, but they buy and hold and their knowledge will increase throughout the journey day by day.

That also applies to new investors, they want to invest in bitcoin, even though they do not understand much about bitcoin but they have a lot of time to learn about bitcoin.
The investor's journey in investing in bitcoin only needs to know about the initial steps, namely buying on a trusted exchange and withdrawing it to a personal wallet, that's enough for the initial stage before they learn along with the accumulation they do.

Even if they don't know these initial steps or can't do the initial steps themselves, they can enter the investment through a trusted friend/reliable person. Basically when you plan or decide to invest you should not delay at all. But you must be an expert and learn the basics very soon. Because you should not depend on others for a long time.

Later when you are able to acquire basic knowledge and can make your own purchases then you should continue to try to gain knowledge about Bitcoin, because in order to manage investment you need to know what Bitcoin is and how to invest in Bitcoin and when to take action. I consider it essential to gain knowledge on the subject.

I disagree with you that a brand new investor that want to start his bitcoin investment shouldn't have the basic knowledge of bitcoin before investing. This is strange because how will you invest on something that you have zero knowledge on. To have the basic knowledge of bitcoin i very important for anyone that wants to start his bitcoin investment because it is simple, and this is why it is encouraged that you need the basic knowledge for you to invest, because you can learn as you are investing since it is a long term investment, rather than waiting to have the concrete knowledge before investing.

Bitcoin investment is not like a traditional investment that takes time before you can understand the business before setting it up. Bitcoin investment is learn as you buy, and keeping on learning and buying. Whoever does not learn the basic of bitcoin before investing is not serious and dumb because you can learn the basics on the internet.

Jewan420

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Quote from: ginsan on October 27, 2024, 06:12:18 PM

Yes, that's very right, Investing in bitcoin without in-depth knowledge will not be a big problem because every new investor must know bitcoin from their friends or from social media, when the first purchase is made that is the initial stage for them to approach bitcoin. As you said, early investors do not understand bitcoin, but they buy and hold and their knowledge will increase throughout the journey day by day.

That also applies to new investors, they want to invest in bitcoin, even though they do not understand much about bitcoin but they have a lot of time to learn about bitcoin.
The investor's journey in investing in bitcoin only needs to know about the initial steps, namely buying on a trusted exchange and withdrawing it to a personal wallet, that's enough for the initial stage before they learn along with the accumulation they do.

Even if they don't know these initial steps or can't do the initial steps themselves, they can enter the investment through a trusted friend/reliable person. Basically when you plan or decide to invest you should not delay at all. But you must be an expert and learn the basics very soon. Because you should not depend on others for a long time.

Later when you are able to acquire basic knowledge and can make your own purchases then you should continue to try to gain knowledge about Bitcoin, because in order to manage investment you need to know what Bitcoin is and how to invest in Bitcoin and when to take action. I consider it essential to gain knowledge on the subject.

Churchillvv

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Eloncoin.org - Mars, here we come!

Quote from: MainIbem on October 26, 2024, 01:13:21 AM

Most of the owners of those others coins come up with things that are too good to be true to attract people to invest in them, and it pays off cause that's why many people still buy Alts and shitcoins out of ignorance all in the name making profits in the future, though some are out of greed too cause they're aware of the consequences but are willing to take chances despite knowing they could lose everything

Perhaps the ideas that are attached to those shitties (shitcoins) are merely the so called Flaws of bitcoin which are obviously not true but some how and for some reason they succeeded with ideas of solving a none existing problem of bitcoin by coping it's protocol and creating a useless coin out of it just to satisfy the curiousity of some folks who do not believe in themselves so they couldn't believe in an original coin/cryptocurrency (Bitcoin). Most of the shitcoins claim to solve one or more issues but in reality they are more or less scams intended to rob the some folks who are probably ignorant of this intentions.

Hence anyone who knows the truth behind this coins and proceeds to buy them are either risking the lowest risk (fiat) into a higher risk that is probably not going to profit them anything but for belonging sake they would want to feel among by going into risk lossing the lower risk the had (fiat). Perhaps I consider fiat a risk for the fact that it depreciates over a long term while the higher risk is the shitcoins which could depreciate 99% in less than 24/hrs.

Quote from: MainIbem on October 26, 2024, 01:13:21 AM

Over the years, Bitcoin has shown that it has the ability to reach different ATH and it would still set another in the near future, which makes it the best Cryptocurrency for investment, that alone should discourage people from buying other coins for investment purpose but then that's where ignorance and greed comes in like I said earlier. Well, another thing is lack of patience some of those investors are not willing to wait for long-term cause they want to make quick profit, they disregard the major benefits of the future and chase after quick profit that seems very risky, forgetting or not knowing that Bitcoin investment got strategies that helps counter the risk of loss and that's why it's completely different from others.

Perhaps bitcoin has not just become the top #1 cryptocurrency for the mere sake of reaching all this ATH but it has become the top #1 because it's a paradigm and every other coins came into existence because bitcoin existed. it has become the highest cryptocurrency for all of its characteristics even though some folks seems to create propose problems that are none existing into it for a mere purpose of taking chances from other individuals who are not knowledgeable of reality. Perhaps it's also true that there is nothing perfect but bitcoin in its original form has its purpose served and still serving and will always serve it's purpose.

ginsan

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Quote from: Justbillywitt on October 27, 2024, 01:23:54 AM

Nobody is saying that investors shouldn't have understanding or be ignorant of anything here. When it comes to bitcoin investment, investors can make their initial purchase of bitcoin without having any understanding of it. But they should gradually increased their knowledge down the line. What i see as is bad is for someone to be investing in bitcoin for a long time without trying to increase his knowledge along with his bitcoin holding.

Yes, that's very right, Investing in bitcoin without in-depth knowledge will not be a big problem because every new investor must know bitcoin from their friends or from social media, when the first purchase is made that is the initial stage for them to approach bitcoin. As you said, early investors do not understand bitcoin, but they buy and hold and their knowledge will increase throughout the journey day by day.

That also applies to new investors, they want to invest in bitcoin, even though they do not understand much about bitcoin but they have a lot of time to learn about bitcoin.
The investor's journey in investing in bitcoin only needs to know about the initial steps, namely buying on a trusted exchange and withdrawing it to a personal wallet, that's enough for the initial stage before they learn along with the accumulation they do.

Ishicryptic

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Quote from: Stablexcoin on October 26, 2024, 06:18:32 AM

Quote from: boyptc on October 26, 2024, 05:05:32 AM

Yeah, that's what I am saying about basic knowledge. Understanding that Bitcoin is moving quickly and prices vary from time to time.

It's true that they can buy and just understand it later. But in general speaking about investing, someone shouldn't get into an investment that they don't totally understand even the basics of it.

At least a little understanding is very necessary because they cant start investing if they do not know the safest exchange and how to buy it form them and send it to their wallet. The process of buying and storing should be the most important thing they learn fast then how to manage their investment and other knowledge can be learned later. It's just like going to cultivate without any tool, while it's essential to have a tool and know how to use it manually before thinking of buying bigger engines that can facilitate and modify the process.

I see any other knowledge that we ought to learn after investing as sustainable knowledge. That is what triggers us to hold on to our investment as long as we want to.

Having the basic knowledge of anything that we're going into is very important, you can not jump blindly into any investment because you think that it's profitable, this is the major reason why many people get scammed because they lack basic knowledge. A simple understanding of reputable wallets can save a newbie from using scam wallets, even when they know and want to download a reputable wallet, they might get the fake one from a phishing site. Scammers can clone reputable exchanges and people who wants to rush into Bitcoin investment without any knowledge will become their victims. They wouldn't know the importance of verifying URL careful if they don't have the right knowledge or bein guided by experienced people that are trustworthy.

Knowing about the technical aspects of cryptocurrency, specifically Bitcoin is where it's not necessary for a new investor, the knowledge can be aquired with time. It can be discouraging for an investor who is not a technical person to be learning about Bitcoin technicalities, it's really not necessary for every hodler. What is most important is to understand that if you're holding your Bitcoin in a none custodial wallet, that you're fully in control of your coins, also that if by any chance you lose your seed phrase, either by theft, disasters or carelessness, you'll lose your Bitcoin forever. I believe that this is the most important basic knowledge that every Bitcoin holder must always remember whether they're new or older investors.

Justbillywitt

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Quote from: boyptc on October 26, 2024, 04:35:33 PM

That is why whenever I see someone that they don't need to understand and it's just simply buying Bitcoin and holding it, that's not the point.

I mean, yeah someone can do that but it's not the whole context. As an investor, we need to have at least the understanding of what we're buying.

Nobody is saying that investors shouldn't have understanding or be ignorant of anything here. When it comes to bitcoin investment, investors can make their initial purchase of bitcoin without having any understanding of it. But they should gradually increased their knowledge down the line. What i see as is bad is for someone to be investing in bitcoin for a long time without trying to increase his knowledge along with his bitcoin holding.

It is that bitcoin that they have invested in, and are still investing that will propel them to learn everything that they need to figure out. But what I'm only opposing is the idea that someone must be knowledgeable and have proper understanding of bitcoin first before investing in it. People are always more committed to learning something that is benefiting them directly.

Quote from: Sobz on October 26, 2024, 05:17:03 PM

The first investment in any investment is to invest in learning to have a better understanding. When there is no knowledge about a particular investment it means you are investing in nothing, it doesn't even matter if what you are using to invest is much. When their is no knowledge in an investment it is possible to be at last which the investment won't be even productive. Knowledge carries the information one is suppose to know concerning an investment and if the knowledge is not there it means one knows nothing.

You have to understand that bitcoin is not like most of the conventional investments people do out there. Back in 2009 and early 2010, how many people invested in understanding bitcoin first before investing in bitcoin itself? I can tell you for a fact that majority of those early investors came into bitcoin investment with little or zero understanding of bitcoin. Many just bought bitcoin blindly but as time goes on they started increase their knowledge and their understanding developed. This is still applicable today.

Popkon6

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Quote from: AirtelBuzz on October 26, 2024, 10:19:49 PM

Quote from: Sobz on October 26, 2024, 05:17:03 PM

Quote from: boyptc on October 26, 2024, 05:05:32 AM

Yeah, that's what I am saying about basic knowledge. Understanding that Bitcoin is moving quickly and prices vary from time to time.

It's true that they can buy and just understand it later. But in general speaking about investing, someone shouldn't get into an investment that they don't totally understand even the basics of it.

The first investment in any investment is to invest in learning to have a better understanding. When there is no knowledge about a particular investment it means you are investing in nothing, it doesn't even matter if what you are using to invest is much. When their is no knowledge in an investment it is possible to be at last which the investment won't be even productive. Knowledge carries the information one is suppose to know concerning an investment and if the knowledge is not there it means one knows nothing.

It is not clear which investment strategy you are referring to in the post, everyone may use different strategies for investing. But if you regularly buy bitcoins through DCA to grow your investment, you may not need to have much investment experience. Buy bitcoins regularly by confirming the source of income and ensure the security of the wallet in which the invested bitcoins are kept. Remember Not your keys not your Bitcoins. No matter how much Bitcoin you purchase and deposit for investment, if you do not provide proper security to the wallet, the wallet can be hacked by hackers.

The information you presented is the beginning strategy of the bitcoin investment DCA method, but I generally say that people who invest in bitcoin have some work in advance that is planning. Because planning and risk-taking is the most important way to hold onto your bitcoins, adopting these strategies will help you keep your bitcoins for a long time. The main reason why you should invest DCA method in Bitcoin is to hold the investment for a long time, not all are rich but there are many poor people who are basically reluctant to save money or have money shortage.
This DCA method is most important for them, because if he deposits a small amount of bitcoins every week and saves it for a long time, it is possible to save the most money in a lump sum or portfolio. Or you should note that this DCA method is not only limited to new and poor investors, it is all people who are rich and both investors can be successful using this method. And the wallet of the person depositing bitcoins must be strong and the key is most important to keep safe.

Quote from: AirtelBuzz on October 26, 2024, 10:19:49 PM

To start investing in DCA method you need this little knowledge. This is why it is said that dollar cost averaging techniques can be used to start investing with little knowledge, and over time you will gain experience with regular bitcoin purchases. This has been discussed many times in many posts in this thread.

This is how an investor can start his investment and he will be successful, but to hold for a long time definitely requires patience. You cannot succeed in any work or investment without patience, so here are the activities that you can succeed in investing in Bitcoin.

Topic: Buy the DIP, and HODL! - page 53. (Read 129385 times)