Topic: Buy the DIP, and HODL! - page 108. (Read 122021 times)

A new beginner with no bitcoin does not need to waste anytime looking for the right strategy that he can use to start accumulating bitcoin. As a new investor DCA strategy is the best for you and there is no big deal with using DCA to accumulate your bitcoin because it is using part of your discretionary income that you know will not affect your financial expenses and you can do without for long to buy bitcoin every week or monthly consistently and persistently without skipping any week so that your bitcoin portfolio will start increasing overtime.

A new investor should get started immediately, if he has sorted out how much he will be using to buy bitcoin regularly without overdoing it. After that it is good that you create an emergency funds of you don't have any available, and that can be done along side with you bitcoin investment. You can use the other part of your discretionary income to build your emergency funds for at least 3-6 months to be a back up to your bitcoin investment so that when a real life emergency occurs, you don't go and sell your bitcoin but use from your emergency funds to solve the problem. If you have built your emergency funds, you can continue using that money to build a reserve funds that will be a back up to your emergency funds.

This is where you are getting it wrong to start your bitcoin investment what you need is the basic knowledge of bitcoin which one of them is that you invest invest in a long-term and hodli. You only need to know the amount that will allow you buy bitcoin regularly and it will not be a problem for as low as $10 for a start, and how to buy bitcoin from and exchange which means you need to register with a good exchange and you are good to go with your bitcoin journey. Since you are investing and hodli for a long period of time, you can learn the rest knowledge as you are investing. It is not good to waste time seeking for knowledge and not using the opportunity to invest immediately because bitcoin price waits for no one.

If you cannot control your patience, you should use only an amount of money that you can afford to lose. If you don't have a discretionary income get a second job so that part of your income from there can be used to buy bitcoin. If you don't have a job get one. No one can invest in bitcoin without a discretionary income.

That's right, whether you've been involved for a long time or are new, you still have to have a strategy, even if you or someone else who has been involved in the BTC world for a long time definitely has a strategy. I read and learned a lot of new things when I entered this thread, although I rarely comment, but listening is not a bad thing. I often read the comments on this thread because here I think I can find new lessons and insights about BTC.

Of course, getting a strategy that feels right takes time, I myself am currently studying the DCA strategy which is talked about quite a lot. This is interesting because I think everyone can do this strategy, even beginners, but there are many factors and aspects that must be considered so that everything goes well.


Of course, to invest, you need sufficient knowledge because if you lack knowledge, the investment you make may lead to more losses. Of course, everyone doesn't want to experience losses, so if you really want to invest, you must have sufficient and good knowledge first. I myself am looking for learning. Just from this thread I think I can take some lessons from the many comments there are. Even though we may occasionally have to be brave enough to take risks, if there is a lesson that can be understood to minimize the risk then it is better to learn it, after all it won't result in a loss either.

Restraining myself is not an easy thing, I still can't control my patience very well, I'm still preparing myself to be more ready to do everything.

To state the obvious, there is a certain truth that any strategy has to start from where any of is at right now, whether we have already been in bitcoin for a while and we are figuring out if there might be some way that we might improve our BTC accumulation and/or maintenance strategy or maybe we are just starting in bitcoin and bitcoin accumulation and we are figuring out our strategies, then we have to figure out our own budget and our 9 factors, and our view about the BTC price movement is ONLY one of the factors, which also might not be as important as several of the other factors.. and it could take us years to really get our practices in a kind of order that we start to feel comfortable with the amount of bitcoin that we are regularly accumulating and also the other balances of our cashflow and our cash reserves.


Surely none of us can say what the factors of another, and there surely could be some guys who are able to sacrifice a lot of their expenses and even to be able to work harder and more hours to increase their income and the combination of increasing their income will increase their disposable income and cause them abilities to be more aggressive than others in terms of being able to buy more bitcoin.

And there might be other folks who struggle and struggle to increase their income and cut their expenses, but they still might not be able to invest very much in bitcoin and it might take them 20 years or longer before they really start to feel that they have accumulated a decent BTC stash.

So no matter our conditions, we have to try to work within our parameters to try to make sure that we stay in the game.  We do not over do it or under do it, so that we try to minimize the likelihood that we will have regrets because we did the best that we could do based on our own individual circumstances...  And even if there are not any guarantees, it is quite likely that quite a few of us who stay persistent 4-10 years or longer ( and yeah some of us 20 years or longer), we will have good odds of being in a better position because we chose to persistently stay focused on bitcoin and we coupled our focus with reasonable and prudent and perhaps even a bit aggressive action as compared if we had not maintained such persistent focus on bitcoin.


There is a statement in regards to time in the market is better than timing the market, so there tends to be a lot of value that comes from being in the game for a long time and not overdoing it so much that you end up taking too many chances, so in that regard, each of us has to find an approach in which we do not become too greedy, and we may well have to make sure that we have enough cash, so we might refrain from buying as much bitcoin because we want to make sure that we do not over do it.. .. so the balance can be quite difficult and many of us may not realize that we overdid it until it has become too late... so we have to be careful to not end up losing any of our bitcoin because we over did it and we were too focused upon getting more bitcoin and we ended up failing/refusing to adequately protect our short-to-medium term cashflows and our back up cash reserves.  Those  kinds of balance have to come from within the boundaries of the judgement of each of us, and sure some of us try to give examples of good practices as compared to bad practices, but sometimes all of the examples cannot be given and guys have to end up exercising good judgements in regards to how to balance their cash flows as compared to how much bitcoin they are able to buy weekly or whatever period of time they are buying their bitcoin.


Each of us has the ability to set up strong cashflow management practices that allow us to strengthen our emotional reactions, so the better kinds of cashflow management practices that we have that are balanced with our bitcoin investment strategy, whether DCA, buying dips and/or lump sum, then the more likely that we will keep our emotions in check.. and yeah, it might take a while to build the skills, practices and application, so the newbies might have more tendencies to want to panic while they are still building, so they should be attempting to build and buttress their systems to lessen the likelihood that they will panic because either they are continuing to buy or they are holding or they are doing some kind of a practice that helps them to couple some of their actions in with their beliefs in bitcoin being a good place to put some of their extra money and if they don't have extra money, they might have to hold from time to time until they are able to generate some extra money to buy more... especially if they are in their accumulation stages, then the main thing is just buying regularly but also having some reserve funds so there is not any kind of sense of panic that sets in merely because the BTC price moves a lot in one direction or another.

The key to investing is to start early, so if someone has the opportunity to invest now, then he should invest now. There is no need to buy in large amounts, with accumulation or DCA one can build their investment portfolio slowly while setting goals for how long they hold it.

Because if someone delays investing now, then they might miss the opportunity to get bitcoin at a cheaper price and the opportunity to get potential profits more quickly. If you are still in doubt, do accumulation or DCA, because it is the most appropriate method for people who want to start but are still learning.

LOL, mate thats exactly what it is, people just come on up with excuses all the time, procrastination is a dream killer, I come to understand that people will always complain of Bitcoin price even though it appreciate or decline in price, if we look at the people that has keep the ground running in Bitcoin investment today, they all saw everything happening in Bitcoin market as an opportunity to acquire more of the asset hence they know that Bitcoin is an investment of the future they don't concentrate on the immediate price of Bitcoin rather they keep accumulating and patiently hodling for the appointed time to come, although people with their ways of life and their personal decision which we can't change bit I think it is better for an interested investors to let go of continous postponement of good actions that would have been taken earlier just because of something that would have been done easily with a strategy that has been made available to carry every interested investor along.

The best time to do it was always in the past and not in the present. However, we cannot go back in time and so we have to deal with the present and before another regret comes, do it presently so that not another opportunity will be missed.

That positive mindset is being disrupted when you're less experienced. And this happens to many investors that whenever a few falls happen, they all panic.

But an investor that has enough experience of buying the dip and holding for so long, there's no inch of movement to their emotions happen and that's why holding firm has been an easy action for them.

I believe investing in bitcoin now is actually the best mostly for those contemplating what to do probably if they should buy and hold or not. All this doesn’t matter as our approach concerning bitcoin investment is to take advantage and accumulate now when bitcoin has not gone too far. Talking about the future of bitcoin, although no one can tell but it’s certain bitcoin will not fall and as investors it’s best we develop positive mindset with our investment.

It sounds like you are doing pretty well with your investment and the insight you have drawn from Jay is worth it, if it were to be outside you would pay a lot to get this knowledge but here you get them for free. I will advise you to stay focused and stay on the path you're currently on. Dont sell your investment at all. There are chances that your portfolio is doing better than people who have invested for about 3 to 4 years. The thing is, long-term investment is all about consistency and you have shown full consistency for 1.5 years.

At the end of the day it's not about how long you have been investing but how much you have invested that will determine the level of profit one would have in his Bitcoin investment.

Mr JJG, the explanation you explained was quite good and added insight for me. I will make it a practice not to think out early and continue week after week to continue accumulating Bitcoin. Why do I believe that is because the money I use to invest in Bitcoin is money that is not used or that is not burdened in my daily life. For this reason, I will no longer say when the ideal age is for them or for myself to experience the results of investing in Bitcoin because it is all their own decision.

Apart from that, you are right that there is no satisfaction that we experience, I mean I have passed 72 purchases every week but I have the desire to reach 100 purchases this year and hopefully it goes with the plan I have laid out. Of course I have overcome many obstacles in the last 1.5 years and I have also learned a lot from you because I often read your posts which make me want to continue holding my bitcoin. Age is no longer a calculation because without us realizing it we pass 30, 40 and 50 years so quickly. For this reason, the best time is to use it in a good way, in other words we continue to invest in bitcoin.

Yes, a lot of people are currently close to that extreme of having nothing left in their portfolio because the center of attraction has been drawn from growing and advancing portfolio to the sudden amount of profits we can make from investing. People no longer admire Bitcoin as a long term investment, months into funding portfolio many users are already having that aura to sell, nothing they find impactful during the process only ending in a buy and sell options, no longevity.

I understand what you are saying about investment being tougher on other assets, because in other assets one has to deal with several regulations/approval which are time consuming and capital intensive. But on the other hand bitcoin investment can be started right in your room within few minutes and without anyone knowing. The only thing I find worrisome about your post is when you made mention of altcoins along side bitcoin. You know there are a lot of atrocities going on in the name of altcoins. Many scams and rug pulls happening with altcoins, people have lost their hard earned money repeatedly that's why we don't encourage people to venture into it. Bitcoin is the real deal and anything other than bitcoin should be avoided completely. You will notice that some regular users of this thread have quoted you on about this altcoins of a thing you made mention of because here we value what we feed the audience and we we don't want newbies and others to be mislead, that's why any thing other than bitcoin is not encouraged here. And if you have been doing it on your own, you should refrain from it so you don't get hurt or be a victim of it yourself.

That's very much correct that Bitcoin is very much famous for it's wild swings i.e. swing of price in both directions. Anyone coming to Bitcoin will recognise these swings sooner or later, though it's better to get yourself familiarise with these wild swings as early as you can.
As far as regretting of not investing in bitcoin is concerned, I think it's more wise approach to look what's coming ahead rather then looking back and saying that now it's too late to buy Bitcoin.
We do have lots of strategies (shared by you) about how to get started with bitcoin even today. What has gone is story of the past, let's just focus on the opportunities that are lying ahead. 
 

There is widespread confusion in your own about investment, which can often make you financially bankrupt. Traditional wealth is vital to your own and family's financial security, so you should have a separate layer of protection for your earthly wealth. For example, every week or month you can get guaranteed profits where you can invest in this case your capital can get security. Also excess assets can provide greater protection to your alternative investments. By investing in altcoins/shitcoins, your capital may be exposed to high risk, which is undesirable, so you should abandon the shitcoins. Long term investment in Bitcoin is recommended for the safety of your valuable capital.

You are correct. In terms of investment cheap or expensive however you should check the level of financial security that can give you high profits. Investing in Bitcoin is relatively easy as following the DCA method anyone can start accumulating Bitcoin without any experience. As opposed to just disposable income, depositing bitcoins in chunks every week or month is recommended over a long period of time. Having an abundance of other assets is important to sustaining bitcoin holdings long-term.

Perhaps you didn't read everything I said as you only quoted a part of what I said but in order not to make a repetition of what I said earlier, you do me a favour and re-read what i wrote again. But let me just put it straight to you, Bitcoin doesn't depend on politics for it's price movements and if you check since the invention of Bitcoin, how many politicians have been able to influence the activities of Bitcoin even when majority of them criticize Bitcoin as a scam project but yet Bitcoin maintained a solid ground and has made it through to this level it is now so why should we be overexcited when politicians are considering turning back to what they rejected years ago?

I have already stated that the activities of Bitcoin depends on so many factors of which some of what you mentioned are the factors and you seems to not understand the difference between political and social influence but let me break it down for you because you just made mention of Lionel Messi being an ambassador of bitget. Lionel Messi is a socialite and his influence came through football so a lot of his fans knowing who he is as a bitget ambassador can decide to make use of the exchange based on Lionel Messi's influence but when we talk about Donald Trump, what is he known for if not politics?  even though he is a public figure as a well known businessman but his lifestyle is more of political than social and politicians are some kind of controversial people in the sense that they can say a word today and tomorrow they withdraw their statements, don't know if you get my point but to sum everything up is to let you understand that Bitcoin is an asset that has stood out on it's own and what influences the market is mostly it's demand and supply, the activities of the whales and also the percentage of those that buys, HODL and sells within a particular period of time and not some political interference.

Our picture of bitcoin in the future will be much more valuable at a high price because supply and demand are higher especially with limited supply, so it is likely that in each cycle it will break its ATH record.

After seeing the journey of bitcoin for more than 14 years it is truly amazing isn't it, because investment in other places will not rise as short as in bitcoin, therefore we are more confident in bitcoin which has great advantages, most importantly we can become our own bank meaning we have control over these assets.

DCA is an important plan if you have goals for the future, I have a big dream when old later can still earn from bitcoin because of investment from now on with the DCA strategy.
Assuming $10/week for 5-10 years you will still get a high ROI.

But there will be those people who will be at one point of the extreme that holds no Bitcoin. Out of the eight billion people in the world right now, how many of us are actually accumulating/having a desire/interest in learning about Bitcoin? I believe that in two or three decades that line will be clear. Bitcoin is not perfect, but it will get bigger and BIGGER. Front run everyone now, worry about it later. Bitcoin is a breakthrough, like the invention of the telephone or something as ground-breaking as air travel.

Maybe much better for people to eliminate some thoughts about discussing altcoins here since its out of topic if they discuss about buying few of it or anything related to that. Since what usually discuss about here is all about bitcoin, also the accumulation and strategy to use. For sure we already know what risk does people usually get for it so much really better for people to focus on bitcoin since for sure they can get more appealing gains with this asset.

It will be good if new investor would focus on bitcoin since even if there's sudden price dump would happen they could able to rely and think about gaining back their money since there's always a big chance for bitcoin to pump then possibly reach its new all time high. In bitcoin the long term holder is always the winner.

Investments are never cheap anywhere so you don't have to confuse us in this. Every investment require money that is proportional to our financial capabilities and depends on the type and scale of the investment. What you can say is that investing in Bitcoin is something easy to start and maintain. You don't need too many things and no rigorous processes and paper or technical work needed. 

Now saying that investment in altcoins is an option is what I will not agree with you on because buying altcoins is not an investment for me, you are simply gambling with your money. How can you call something that can die anytime, without notice, investment? Maybe you have not really suffered real lose from investing in altcoins. If I show you my wallet to see how miserable shitcoins I bought with my money have become, you will not bring altcoins to a decent discussion such as we are having here. So, let the discussion be focused on Bitcoin alone so we don't get too distracted.

Our target is to build a good Bitcoin portfolio that we can look in the future and feel accomplished that we took our finances seriously. 

We don't know what lies ahead but we have tools available that can  give an idea of why DCA is best choice to invest in Bitcoin. Even 10 dollars a week or 100 dollars per month for 5 or 10 years are good enough to grab good profit. We have the liberty to go bullish on bitcoins if we have extra cash otherwise sticking to base plan will also take you to good position but with time. DCA is also best for those who don't have huge money to go for lump sum.

Every person tries hard enough for the financial security of the future. They do that from the beginning to the end of their careers. But if a person can think a little bit about Bitcoin then he will definitely find its benefits. The amount of money that can be expected to be earned after 30 years of working life can be recovered in 10 years by investing in Bitcoin. Those who manage DCA for 10 years and collect bitcoins I am sure they will get more return from any other investment platform. Those who were previously in confusion without collecting bitcoins must not miss the opportunity this time. DCA in Bitcoin can definitely give an investor a bigger return in the long run than keeping money in a bank or other financial institution.