You don't need basic knowledge in order to start to buy bitcoin.

You need discretionary funds and common sense.

Your common sense will help to inform you the extent to which you need to know more things, or gain more skills or to look into matters or not.

What is the basic knowledge that you expect that normie newbies need to know in order to get started buying bitcoin besides being sure that they have discretionary funds in order to make their first purchase?

Let's say that some normie newbie was in the middle of carrying out his weekly drinking, smoking and going to bars, and usually it costs him around $200, and so he had the $200 in his pocket and then before he got went to the first bar and bought his first pack of cigarettes, he ran into a friend who told him about bitcoin and told him to get started buying bitcoin, and the friend told him to buy his first bitcoin on Binance.  So the guy decided to agree with his friend, and instead of spending $200 this week on his fun.. he was only going to spend half of it, and save the rest, and he would buy his first $30 of bitcoin.  What is wrong with that?  What more does he need to know?  The guy used his budget to buy $30 worth of bitcoin (at least bitcoin representations since he does not have them in self-custody, but is instead going to hold them on Binance).

Of course, the common sense of any person might guide them in realizing that they might need to look into one particular thing or another, yet each newbie can decide what those things that he may or may  not need to look into might be, since there is no exact basic knowledge as long as the newbie has figured out that he has discretionary funds that are available and he figured out a starting amount.  Sure, if he does not know from where he is going to buy his bitcoin, then he probably would need to figure that out, but in the example that I gave the guy spoke with a friend who told him to start with Binance, which is good enough to get started with $30, no?  What more does he need to know in order to start?  Can't he look into the details later?  Maybe next week?

Once you start you immediately know what's really needed. With your new experience perhaps when matters arise regarding requirements you'll already have a basic understanding. Why do I say this? I often find that people sometimes misunderstand this concept especially some who say it's more important to study first before starting. Perhaps you immediately clarify that it's better to get involved first to understand what's really needed. I completely agree with what you said because basic knowledge will provide a better understanding. There are two things we involve and in those two things someone will no longer follow when someone says it's better to study first to meet the main requirements before being able to start. In my opinion the main requirement is to get involved first and then understand the requirements. Besides having additional funds it's true that someone wants to strive to understand investing. This is also often done by some investors because they certainly do it with common sense not just by in-depth knowledge based on guesswork.

This is something that does not need to be clarified anymore because someone immediately gets involved after understanding a little of the basic knowledge so that after that they immediately apply a long-term method in starting an investment to secure coins from fraudsters. This is because the knowledge already exists and they already understand or know various strategies in implementing it so that the person's goal is to secure coins from fraudsters.

Largely I am not against the idea of guys having knowledge or basic knowledge of various aspects of life, and I am even assuming that guys have various levels of knowledge, experience and skills when they first hear about bitcoin, so they still have to consider from a perspective of where they are at in terms of things that they might need to know or learn besides the only real basic thing that guys need in order to get started is discretionary funds.

One of the values in bitcoin tends to be getting started from where-ever a guy is at, and there are so many guys lecturing about supposed things that guys need to know about bitcoin before they can get started, and it may well not be the case that they need to learn all the things that guys are suggesting prior to just getting started based on their determination of whether they have discretionary funds.

Now it may or may not be the case that a guy can easily figure out his discretionary funds, and it could be a sign that if a newbie is struggling to figure out whether he has discretionary funds or not, then he might not be ready to get started and to make his first bitcoin purchase.  

Another important aspect of common sense is for guys to be able to determine how much to start with and to start out conservatively as they learn (or at least to put amounts in at the level of their comfort level), yet in the end, it is still up to each guy to figure out how organized he is in his cashflow management and how much he can start out with in his bitcoin investment (perhaps weekly buys?), if anything.

What a self contradictory point of view! Jostern you said DCA strategy isn't something a new investor should consider and went on to saying that consistent buying and accumulating of bitcoin should be the most priority as a long term investor. So I want to ask, since buying of Bitcoin through DCA strategy isn't something to be considered by newbie investors, how will they buy consistently? I hope you get the contradiction you made? DCA enables an investor to consistently buy Bitcoin without attention to market price.

Also saying that "you believe someone who is interested in long term investment would not be interested in buying bitcoin when the price must have dropped" is not correct because price drop is an opportunity for a long-term investors (definitely using DCA) to buy aggressively, not that they waited for price drop.

Nope, you should know the basics that is needed before starting, starting is not a guarantee for having basic knowledge, for example if you're not yet able to identify to having discretionary income, then you should not start because you'll surely be using funds meant for your expenses to invest and that is gambling with bitcoin rather than investing, so as basic as ensuring you've discretionary income is required before you start, and then you can go ahead to consistently accumulate bitcoin with DCA and go long-term in it, while you build out your backup funds alongside buying bitcoin to shield your portfolio in case of emergency situations.

Your opinion is wrong, the main requirement is having a discretionary income, when you're sure you'll be investing from your discretionary income, then you are set to start.

Yeah they can consider those things you have mentioned and there's really nothing wrong for starting up using small amount of their funds. What's important is the used their discretionary funds and not the money intended for their rent, emergency funds and utility bills.

For newbies, the real basic information that they need to learn is.

To know which platform they buy their Bitcoins.

To accept Bitcoin is volatile asset so it moves up and down from time to time. So they need patience here.

Don't store their coins on third party platforms, always use non custodial wallets to make sure that they have control and their funds safe

Other than those information or deeper knowledge about Bitcoin can be learn thru step by step process of their investment. So what's important is their first step, because nothing good will happen if they keep waiting for something.

Honestly understand your point clearly but I don't think you literally need basic knowledge to buy Bitcoin. Based on my perspectives I believe the most important thing first is to have discretionary income and common sense to start, basic knowledge can be acquired with time if you keep on accepting Bitcoin frequently. If we keep on talking about the fact that beginners need to learn first before they start buying or let's say investing into Bitcoin, it is obvious that we are all trying to create and unnecessary delay for them. Honestly I think knowledge is earned through practice, and for them to practice it, they need to start buying and obviously, learnimg without putting it to practice is of no good use and it can reduce the chances of the person being motivated to continue. So my point is that if they should acquire knowledge first there's a higher chance that they will be delayed to start buying Bitcoin, and they might also miss out good opportunities from the market. In case you have forgotten that Bitcoin is volatile, I show inform you that knowledge can not even guarantee investors profit from Bitcoin investment.

It is not mandatory to have so-called basic knowledge before starting Bitcoin investment. Although some people will start arguing against me here. But I think what a person needs at the beginning of investment is discretionary income. If someone has discretionary income, then he can definitely start. If you start with a small amount from discretionary income at the beginning of investment, you will have enough time to learn about exchanges, wallets, seed phase, fees and self-custody. Therefore, having so-called basic knowledge at the beginning is not mandatory. I think the important thing is that the new investor actually starts investing with his discretionary money. If it happens that he starts investing with the money he needs and has big expectations in a short time, then it can definitely be a mistake. And there is a possibility of the investment collapsing in the end. But basic knowledge is not something that without it, the investment will collapse at the beginning. Although I myself do not fully know the definition of basic knowledge to this day.

In a custodial platform, technically the coin is not under your control. There is an account freeze, withdrawal at any time and KYC risk. There is also a possibility of exchange hacking. Despite all these problems, I recommend that beginners use custodial wallets because for a new person, if they use a non-custodial wallet without learning how to use wallets and invest in Bitcoin, they may lose the seed phrase or make a wrong transaction.

Therefore, using a trusted exchange to start with a small amount and DCA can be called a realistic strategy in many cases. Especially when the amount is small and the user is at the learning stage. Later, when the amount is large and complete learning the use of all types of wallets then they will use a non-custodial wallet. However, an important issue here is the user's mindset. Many people make the exchange as like a permanent bank, which is very risky and dangerous.