Topic: Buy the DIP, and HODL! - page 102. (Read 77632 times)

I noticed most times that people, especially newbies do not understand Bitcoin and hence misconcept Bitcoin for shitcoins. However, you have taken time to distinguish between Bitcoin and cryptocurrency (shitcoins) hence I will love to buttress this differences to make it more clear to my fellow newbies.

There is a very big difference between bitcoin and shitcoins, one which I love some much is the fact that Bitcoin is a paradigm, it's the first of its kind which brought about the existence of every other coins (shitcoin) the earlier people begin to look at Bitcoin as a paradigm shift the better they will start understanding the whole concept.

It's one of a kind and shouldn't by any means be intertwined or interchanged for any shitcoin not even to be compared.

In relation to this thread, it's solely a Bitcoin discussion and the only few times shitcoins are being mentioned isa for  illustration purposes.

We shouldn't be surprised when we see newbies coming up in the forum and this thread. It simply shows one that and that's growth and wild adoption of bitcoin by more people. This forum was designed to accommodate new users. It won't be making much sense if from year to year we are not seeing new people join the forum and we continually see same old accounts. Some newbies are knowledgeable people and they can make meaningful contribution here that can also benefit others and within a short while they will be established in this forum. It takes someone that is intellectually sound to survive and rank up in this forum.

There are probably some folks who come to bitcoin and seem to understand it right away.. yet they are still fairly long and far between those kinds of folks.

Even Michael Saylor, who seemed to have been a quick study when he came to bitcoin in mid-2020 (even though there was some evidence of his commenting negatively about bitcoin in 2013 or 2014), and understood bitcoin pretty damned well (even better than a lot of bitcoin long-timers), he has had his learning journey that has been more honed by his participation in bitcoin, and it is ONLY going to be this year that Saylor will be coming upon one whole cycle of his being involved in BTC investing.

In general, I really agree with your opinion. Because it is true, people who are truly enthusiastic and continue to be diligent in the field of bitcoin investment will definitely achieve very satisfying success. Because with a lot of patience and perseverance, even if it's not in the bitcoin investment field, usually always find success. But it needs to be underlined, that great patience and high persistence when investing in bitcoin, will be had when all factors have been completely implemented. And these factors include:

Intention.
By having the right intentions and the prospects have been carefully planned, I am sure and I have experienced that the feeling of patience in waiting for the money invested in Bitcoin will be greater.

The second is science.
Of course, many bitcoin investors already know about this second factor. But quite a few people underestimate this factor. As is the case with bitcoin investment, many people, especially beginners, always think that investing in bitcoin is a scheme to get rich quickly. This assumption clearly cannot be justified 100%, because even in Bitcoin investment, if the situation changes 90 degrees (bad), it could become a quick-to-get-poor scheme. Because in Bitcoin investment there will always be a risk of loss and this cannot be eliminated, but can only be avoided. And the way to avoid this is by studying Bitcoin more maturely.

The third factor is capital.
This factor is very crucial if not understood properly. Because currently there are many investors who are pushing themselves too hard to invest in Bitcoin using capital from loans. For me personally, this really should be avoided. Because if this is done in bitcoin investment, the risks that can be obtained are many times greater. So it's better to invest with a cold usng, whatever it is. And not just because you want to pursue bigger profits, but in a very forceful way.

Then lastly, always take care of your emotions or mentality. Because with a high mentality, investing in bitcoin will definitely make you stronger as a true HODLer.

So if all these factors have been carried out well, then when we go through the process of patiently waiting for our Bitcoin investment, it will definitely feel easier.

I have been practicing DCA for almost two years and now feel a pretty good profit in the portfolio but I will not sell sooner because I will continue to accumulate in this way DCA is the best way where collecting bitcoin does not have to be difficult in the sense that within $50/week it is more than enough.

Those who have enough funds to buy all at once during the bearish time it is better their budget is big enough then they can afford to do that, but for me it will not be able to afford it so I jumped to the DCA strategy which I am more able to do all the time and the expenditure and income to bitcoin is much more stable and that is why many people practice DCA.

That's a very nice clarification @JayJuanGee because not everybody that thinks or believe that they are actually investing on Bitcoin is true because there is no way we can classify investment on Bitcoin for a long term and those that invest with a short-term profits making, however funny enough most of them have the mindset that weather short-term or long term that they are all investment without knowing that there is a big difference from the two, although i wouldn't blame them because they have no knowledge about what Bitcoin investment is all about, perhaps just like you mentioned is only those who have been into Bitcoin investment earlier will actually understand what type of investment should be regarded as a true investment.

The most important thing to profit from investing in Bitcoin is, patience and holding. Investing in Bitcoin can be successful if you are patient and hold it for a long period of time. Some people who first invested in Bitcoin and Stop holding for lost patience in fear of Bitcoin's price, rise will now understand, and regret it greatly. Because the price of bitcoin is now around 50k over 49k, if they had been holding bitcoin since then they would have got a lot of return by now. But the past is past, now they should start investing in DCA method from now, instead of worrying about the past. Or they can make one big purchase at once if they want. But the only aim should be, long term holding, holding and holding. Only then can they achieve success.

We are not talking about cryptocurrencies or shitcoins in this thread.

If you meant to say bitcoin, then why didn't you use the word bitcoin?

if you don't know how to use the word bitcoin, then you likely do not understand bitcoin, and you need to learn how to use the word bitcoin in order to not be presenting gobble-dee-gook ideas merely because you are trying to sound smart, and one of the first steps is to know when you use the word bitcoin and when to use the term cyptocurrency.. perhaps if you are denigrating shitcoins or maybe in a context in which you have clearly distinguished bitcoin within the context of your use of such otherwise vague and meaningless term.


Yes, people to think about bitcoin as a ponzi, and they don't really tend to understand what bitcoin is.. and I still see no reason to get worked up at the term investment, especially since a lot of people also don't know how to use the term investment in relation to bitcoin because they may well be thinking about their "investment" into bitcoin as a means to get short-term profits in dollars, which is probably more like trading and gambling than investing, so in that regard they are considering bitcoin differently and don't really understand long term investing, even though technically they are still investing, but just not in the sense that many longer term bitcoiners understand the term investing when it comes to bitcoin.

Probably one of the better solutions is largely attempt to put these matters in context without abandoning preferences to talk about bitcoin as an investment - including the various ways that many of us consider investing into bitcoin in the long term with our time, energy and monetary value.

People are going to speculate about bitcoin and not even know it very well, and there are likely many folks who are just getting into bitcoin, and it may well take them a whole cycle of investing (buying bitcoin, accumulating and/or holding) and also studying, reading about it, researching into it, writing about it, before the really start to begin to have greater understandings of bitcoin.

Look at you and me, for example Wind_FURY, we argue about various bitcoin fundamentals, even though we agree about several aspects of bitcoin too, so frequently even longer term bitcoiners can disagree and even have various misunderstandings about bitcoin.. I am no exception to having those kinds of misunderstandings about various aspects of bitcoin and sometimes needing to change my ideas and/or my ways of talking about dee cornz.

Part of my point would still be to express a preference to frame our descriptions and explanations about bitcoin in largely positive terms within a context and not getting caught up in semantics in regards to what gambling, trading and/or bad short-term (perhaps fiat-based) misunderstanding that they might have in regards to bitcoin.  It is likely going to take people time to come to realize that bitcoin is likely amongst the soundest and best of investments (if not the soundest and best), and so in that regard, even if bitcoin experiences a lot of ongoing and likely inevitable volatility that goes in both directions, they likely should be mostly striving to accumulate it and hold it even if frequently in the beginning years (perhaps a whole cycle or more) their holdings might experiences of times in which it might not be in profits.


Some of these arguments about what to call and how to use your emergency funds, reserve funds and/or float money may well be semantical arguments, but at the same time there can be some practicality in regards to how much cash anyone might build up in those kinds of funds and for what purposes they might assign the funds without ending up putting themselves into a bad situation in which they might use too many of the funds when actual emergencies might end up thereafter presenting themselves and they do not end up having sufficient funds in order to cover the possible emergencies for which they were supposed to be prepared.

When you invest using the Bitcoin DCA method, you will make a profit even if the market price of Bitcoin goes up, but you will not fall into losses. The core of the DCA method is that you have to keep investing all the time, and when you keep investing in bitcoins and once the price of bitcoins has skyrocketed to the highest ATH, it is possible to make a lot of income. If you invest every week then surely you will get a good fraction of bitcoin calculated monthly, and you must do it using DCA. If Bitcoin price increases more in a month than you will gain a lot and if it decreases you will not suffer so much but using DCA you will be in a phase. If you can make an average chat every week or month then it is best to invest as you can expect good things and profit from it.

For me I don't see any smartness in this and I see it as something that will make an investor not to accumulate his Bitcoin, considering the fact that there is no certainty as per knowing the breaking point of the bear market before the bull, and there is a possibility of the bear market not have gotten to the range of value expected before the bull, what if it couldn't get to the range of value expected? You might miss out buying Bitcoin for that year according to your expression while others would have been adding to their portfolios. Why not consider dividing the budgeted sum in two parts and starting with dcaing either weekly or monthly and buy wholesomely when there is downward trend in the market. Thou is just a suggestion the choice is yours and always know that what happened in the past may not happen in the future.

 Always Stay focused and informed, working towards achieving your expected goals and objectives.


For me i think the reserves fund may be use to cover up certain non routine or  scheduled expenses as well buying at the dip if there is a  better chances of replenishing it as soon as possible after making provisions for your daily upkeep and your emergency funds of up to 3 - 6 months worth of your salary as expected.

Let's get this right because it seems everyone seems to be advocating that the DCA method is the best. I know the methord is very popular and most people that might have practiced it in the past might have hard positive result from it but what about a situation that someone has enough money and monitors the price of bitcoin and when it gets bearish to a  particular range of value he buys it and does that continually for the particular number of
year.

I know it might seem like the same thing that traders do but you're not monitoring the price for the purpose of trading when the price goes up but what you're just after is the most convinient price you're going to be buying whenever you want to buy.

New members can actually learn about depositing bitcoins from here, how to deposit bitcoins and what are the benefits of holding them for a long time? All such education can be acquired from here. There are many wise people in this thread who have very valuable discussions. All suggestions discussed here by reputable members are DCA method discussions about Bitcoin.

Yes, maybe you misunderstood in another context, meaning that I want to interpret that the reserve funds are for accumulating Bitcoin and are not a benchmark for my economic sustainability because I only use 10% of my income to invest in Bitcoin. So within that 10% of course I didn't budget to save it in reserve funds to buy at low prices. But I will use that 10% to buy Bitcoin with the DCA strategy once every two weeks or twice a month as I did in the previous stage.

So, for that reason, you need to have a good understanding of allocating your finances when investing in Bitcoin. If you are able to budget 10% every month then it will no longer be touched for all your life's needs because you have the other 90% to meet your life's needs. So, that way you won't be stressed about the investment you make because you don't need the money for other purposes.

So some of them have budgeted above 10% or 15% to invest in Bitcoin but they have thought this through carefully in all their decisions because if they are stressed then their investment planning could stop midway.

Saving up a reserve fund doesn't mean you will use it to accumulate bitcoin when the bitcoin price is in a dip. The reserved fund is the fund that will help you in the future to take care of your financial needs when you lose your source of income or job, so that you will not depend on your bitcoin investment to settle your personal needs.
Newbies will continue to come to this thread because this thread will help guide them on the right path to take in accumulating bitcoin so that they will not make a mistake that will make them sell their bitcoin at a loss and never want to invest in it again because of the bad experience they had. You don't need to talk down on someone just to gain favor. If you see anyone spamming this thread, you have to correct him or her on how things are being done here, but if they refuse to take the correction and are still spamming this thread, you can report them to moderate. If it's easy to get merit on this forum, everyone should have been on the list of member ranks, but it is not easy to get merit here, so any newbie who got merit on this thread deserves it because he or she has tried to share a meaningful comment or material that will be useful to the members coming to this thread. I will put it to you that you are here for merit haunting because you have not been on this thread for a long time and you decided to come back to this thread because you have not been getting merit recently from other threads.

I think you got it wrong when you're using the term of emergency funds and investments. Emergency funds are there for any unexpected expenses that you're going to use.

While for investment, you have it planned and that's why you're going to use money there for exactly that will be there.

If you're in a financial crisis, that's when you'll be using your emergency funds but it's not just limited to that use. It's just so happen that I think that I understood it differently based on what you've said.

And you're doing the right thing of replenishing it once used.

No knowledge is a waste actually. If it's not handy for you at the moment it will surely benefit you at one stage in your life. That you are not applying it now doesn't mean you won't apply it later. There are people who tend to understand more of the theory before venturing into practical aspect of it.

There is no need in sending anyone who has no basic knowledge about bitcoin to go back and research elsewhere before coming back here. They can also learn from here. Where is the best place to learn from I not in the midst of people who has been in bitcoin for long and are continually sharing their knowledge. They can learn here, the only thing is they can do more of reading than posting.

in as much as gaining the basic knowledge about bitcoin is important, having a mere knowledge without application is a totall waste of time. Their are times when basic knowledge is important and their are boards and threads assigned for such discussion, and from what has been regularly reiterated here, those that lack the basic knowledge on bitcoin investment have been regular advice to go back and do the necessary research and come back to the thread so they can contribute positively and meaningfully.

Investing in bitcoin is basically the primary thing that makes you an active member of the forum because you can't really share an experience in this field when you've not started accumilating bitcoin and you've not used a particular strategy you've either learnt from the board, the head or one that is convenient for you. The whole essens of the forum and the reason why it is the most active bitcoin forum is because the people here are not mere motivational speakers that read shit about bitcoin and are sharing the knowledge based on what they learnt. This is a conglomerate of experienced and new investor that shares their wealth of experience with new investors all for the whole essence of making profitable investment

Actually fellow I know that bitcoin is used for transaction and of buying and selling of goods and services, and not a thing of decoration according to you. This is where you get it all wrong, Now what I want to let you know is that when talking about bitcoin investment for a long term there is no need of using it for transaction anymore. Now the accumulated Bitcoin becomes a prisoner to you in your portfolio and not to be released till when the need arises, and that is tactically creating scarcity and it will definitely add value because you have also reduce the number of bitcoin in circulation. I think when we talk about Bitcoin invest using DCA, we convert fiat to btc and keep in wallet or portfolio an the reason for converting it is to use it as a hedges against inflation and keep as store of value for future porpos. So there no need for frequent transaction. I think emergency fund has already been set aside, talking about using Bitcoin for transaction doesn't sound nice. Although many people might use Bitcoin as a medium of transaction but that is not a close range to HODLers. Because the mindset of the HODLers is to convert fiat to btc and keep for a long term and not to be used for frequent transaction. The concept or notion of HODL, is to hold onto Bitcoin as much as possible for a Long term, an when the time of harvest has come it will either be used as a direct P2P transaction with bitcoin or better still be converted to fiat according to how the HODLer feels.


I don't really think we are holding bitcoin to replaced the use of fiat in the future. But rather holding for long because it's a great store of value compeard to other assets. Fiat is Fiat and can not be replaced, but bitcoin is rather used as a medium of reviving it's lost value of the past against the future. because as Time goes on fiat keeps on depreciating while bitcoin keep appreciating, so in the nearest future what Bitcoin will only do is to replenish the lost value of your fiat by doubling or tripling your investment and also adding value of volatility to it, making it X10 or X 20 of your investment. Because it has a higher volatility compared to other assets. Though I know that Bitcoin volatility is not always forward ⏩ it also goes backward 🔙 but it has been proven over the years that it will still rise beyond expectations. So with HODLing your future is assured.

The information that JJG always provides about investing changes the way many people think about investing. There are many members who have been regularly active in this section and have changed their thinking about investing. I would never have realized that investing is so easy if I wasn't active in this section regularly. Sometimes small ideas can be the turning point in our life. Earlier I understood that investing means I have to accumulate a lot of money and I have to invest a lot of money but after learning about the DCA method of investing, investing now seems a lot easier for me. Earlier, when I tried to manage a large amount of money in the field of investment, the money was spent differently at different stages of management, as a result of which I could not invest at the right time even after trying.  But currently in DCA investment method we can invest money only when we have money so that there is no possibility of spending money. 

You hold your investment for long 14 months and gradually you increase your investment, also you hold your investment for longer period.  To make your investment more long term you can create emergency fund for investment. The advantage of creating an emergency fund is that your investment will never be irregular, that is, even if a financial crisis occurs, you can invest consistently from that emergency fund.

I have already held my investment for almost two years and I am satisfied at this stage of the market but I am not interested in selling the investment now. I have enough profit on my investment now but I will not sell my investment because I have a plan till certain time and I will definitely hold the investment till that time.

I have three emergency funds for investments and always try to invest consistently but if I ever have a financial crisis I use my emergency fund for investments. But if I spend money from the emergency fund, I try to replenish that fund very quickly later because it keeps me more focused on my investments.

The lump sump strategy that I know is very different from the buy the dip strategy, the lump sump strategy is where you buy all at once with all the capital you have but the buy the dip strategy is usually used by investors who only enter the market when the market is just bearish conditions

I suggest for investors who only have limited capital, don't use the sumlump strategy, you will only waste your money, the bitcoin market is very volatile, it is better to just use the DCA strategy, although slowly, this strategy has been proven to be much better than sumlump and has many large investors have successfully implemented this DCA strategy