Topic: Buy the DIP, and HODL! - page 115. (Read 142231 times)

I have some trouble understanding why you feel some kind of a need to use the term/category cryptocurrency and to put bitcoin within that, even though surely this thread is about bitcoin.

Bitcoin is likely amongst the best of investments available on a widespread basis to anyone, whether we are talking about cryptocurrencies or not.

Surely one of the difficulties with any investing is that there is a need for discretionary income before investing even makes sense.. so a person needs discretionary income and also needs to be able to dedicate holding bitcoin for 4-10 years or longer in order to be investing rather than gambling.

if you want to talk about crypotcurrencies and/or a sector that involves digital assets and a variety of shitcoins, bitcoin is the leader in that sector, yet it is not just the leader for the mere sake of it being the leader, and if you want to get some kinds of ideas regarding why bitcoin is the leader in that sector is because bitcoin brought something to the table that has not been brought by any of the imitators and/or affinity scams within the shitcoin sector.  It is quite likely that if any of bitcoin's imitators, copy cats, affinity scams want to beat out bitcoin, then they would not need to be merely better than bitcoin, but instead they would need to be in the ballpark of 10x or more better than bitcoin, so how is there going to be competition from various shitcoins unless they are in the ballpark of at least 10x better than bitcoin?  In that sense, we should not be spending time, energy and/or money talking aout them or playing around with them unless we are considering them in light of bitcoin and how they might relate to bitcoin and deserve any attention at all.

securing your Bitcoin holding and avoiding anything that will lead to your Bitcoin getting into the wrong hand is as important as avoiding buying and holding some altcoins. What shall it profit you if you become reckless while buying Bitcoin and you refuse setting up means of protecting and ensuring that you avoid links that's going to pose a threat to your holding?

As long as you're in for the long term, you have to avoid doing even airdrop because that's one of the easiest way scammers are currently using to steal people's coin. If he stored his Bitcoin holding in a cold wallet, attacks like this wouldn't have worked against him.

The same way if you don't set out emergency fund you technically expose your Bitcoin holding to being used by you is the same way if you don't set the right security measures in place, you might end up accumilating your Bitcoin only to allow it taken away by someone because of a simple security bridge.

DCA is important, Lump sum is also important and even doing them for the long term is equally the best but when you do all these and neglect the security of your Bitcoin, you will end up sowing only for another to reap it at the end.

Social media has really messed some people up not only by convincing them to invest in shitcoin but by also making one lose everything they have in their wallet more especially newbie. Some weeks ago a friend of mine lost everything in her wallet just by clicking on a link they said she's going to make a lot of money and this look so good to be a lie but because she's still new and she thinks that's how she's going to turn rich in a twinkling of an eye not knowing she's going to lose everything. We should be very careful on what we see or hear online even offline.

It's absolutely true that people who invest in Bitcoin can recover there loss even if Bitcoin dump but not by using best strategy ( DCA), whatever strategy an investor uses he or she will recover loss as long they have the long term mindset of holding and accumulating because definitely Bitcoin will still pump so don't get it twisted

Lots of us here have made such mistake in the past, by  buy and holding shitcoins all in the name of making huge profits or maybe due to hype by paid influencers on social media, in my own case i was airdroped a particular coin and also bought it after a while when I noticed few pumps by the owners but then after a while I watched the coin I was holding dumped rapidly before I could realise I lost alot and was very disappointed. That's the difference between other coins and Bitcoin, most of them are pump and dumps and are not good for investment purposes (buying and holding) Bitcoin is the best Cryptocurrency that suits that category it's the best Cryptocurrency when it comes to investment and even when it dumps people who invest in it can still recover their lose so far they're using a good investment method like the DCA, which enables investors to recover lose so far they follow it's concept of buying periodically. It's good you made your research and it's helped you correct your errors and instead of investing in another coin that would pump and dump, you've realised that Bitcoin is the best for Cryptocurrency investment. Goodluck on your investment journey mate.

Investing in bitcoin does not make you a good trader, because investment is not trading and bitcoin is not good to trade but shitcoins. You should know that long-term investment in bitcoin is how one should invest and not on short-term because you are eager to take little profit and you forget about building and growing your bitcoin investment for the future. A new investor should not think of trading or see trading as a way to multiple his bitcoin, because that is where the chance of you losing your bitcoin is very high.

Stick to only investing every week or month with DCA and be consistent with your regular buying for 4-10 years and above, so that you can have a good size of bitcoin portfolio in the future when you might not have the opportunity to buy bitcoin. Bitcoin is one of the best investments currently, and it is open to all to invest and benefit from it in future, if only you can keep your DCA ongoing and increase your bitcoin investment overtime is when you will enjoy from it when the price of bitcoin becomes very expensive. Don't regret not using the opportunity of not stacking up your bitcoin and hodli for long in future because you are busy distracting yourself with little profits that is not guaranteed by trading

Someone introduced me to a certain shitcoin years back and told me how a lot of people has made huge amount of money for investing in all manner of shitcoins, so I invested in it and as time goes I was still holding that shitcoin but I lost my money because it dropped in value I later discovered that the creators of the coin sold of all the coin they were holding and they were the highest holders that was the reason why the coin dropped till date the creators made huge amount of money and we the investors lost.
It was later I knew about Bitcoin and I did my research and discovered how good Bitcoin is.
1. Bitcoin already has a specific number which means no one can create more, this makes it more valuable.
2. Bitcoin is not controlled by the creator any more which means the creator can't even cause the fall of the coin like the creator's of the shitcoin I invested in.
3. When investing in Bitcoin you don't have to fear losing your money especially when you are holding for a very long time, when ever there's a dip in Bitcoin it must certainly increase.
4. Bitcoin is very secured.
5. widespread adoption of Bitcoin, even some countries now buy Bitcoin and hold is a form of investment to them, some supermarket now accept Bitcoin as a means of payment and some companies pay there works through Bitcoin.
I saw all this and I knew Bitcoin was the right investment to go into, going into shitcoins investment is just gambling your money and it may lead to you being frustrated and depressed I know of a man that even lost his life when he heard the news about the shitcoin he invested his life savings in has lost value and may not even regain.

"Ministers"? Haha.




 

As a "point of empirical observation", and once you gain some understanding on how Bitcoin actually works and how its incentive-structure is making everything stick together = ALL altcoins will look like shitcoin scams compared to Bitcoin.

Perhaps those altcoin developers know that too, and they will never admit it.

   ¯\_(ツ)_/¯

When you say cryptocurrency you are kind of referring Bitcoin to be part of an ecosystem that is centralized and full of pump-and-dump actions. It's best if you refer Bitcoin to Bitcoin and you can tag all other shitcoins to be cryptocurrency. Whenever people hear about cryptocurrency their perspectives are different. They feel it is a digital asset that could be regulated and doesn't have a protocol. Bitcoin is a protocol, so it cant be replaced easily. If Bitcoin could be regulated, it would have vanished from existence a long time ago. This is the difference between Bitcoin and other cryptocurrencies.

What bullshit are you talking about?
You think $30 in my country is a small amount for most government employees? When did I tell you they had to steal if they only got $270 as a month's salary?

Of course, but that was 5 or 10 years ago. Imagine what the cost of living has been during inflation in the last few years until now, then do you think $270 to $300 is enough?

They need to support themselves, their families and children, not to mention their responsibilities regarding electricity bills and other things. Even in a situation like that, you have to calculate how much it costs to park your vehicle and how much accommodation costs for your work trip for a month. $300 is not enough and they have to go into debt to cover the shortfall instead of saving 10% each month. Without a side job, it's very difficult to keep things going if you only have $300 as a monthly salary.

Anyone that buy and sells Bitcoin for profits is considered a trader that's why he used that context to describe someone who but and sell Bitcoin but he didn't make abstraction on the hodl aspect. A holder is different from a trader, they can buy Bitcoin from anyone if they have the money with them and hold for some period of time. It can be for short term or for long term perhaps never selling type of holder which are called diamonds hands, such people are not know for selling a single sats from their wallets.

I want you to know that we have more traders trading Bitcoin than other coins, the volume alone justified what I just said but such people are not ordinary traders, they hold large amount of money for open and closing of trades and they most often like trading Bitcoin than any other coins out there because Bitcoin is less dramatic, less manipulative, highly liquid, most traded and love coin by anyone that is in the crypto space, Bitcoin comes before anything.

Indirectly maybe you are a little pushing the opinion that in the end being in shitcoin and altcoin can be as an option but only for trading options. but I think this situation will complicate yourself because in the end it is very rare that anyone survives the concept of trading that is done.

If your goal is long-term investment we should realize that in the end the current price benchmark is only temporary so why do you feel that the decline is a disaster because in the end it actually becomes a strengthening process so that we can believe that bitcoin has good progress and that temporary decline is only part of the journey that we will feel from the bitcoin investment that we do so there is no need to consider this as a situation that is too difficult and makes you worry because in the end when the decline occurs it is also a good opportunity for us to buy more bitcoin than before in terms of quantity.

Being in a situation that we cannot master and are not really able to minimize the risk, the loss will be very large because actually being in bitcoin but the method is not right can also make you lose all your assets when the assets you trade or maybe store in a place that is not too safe. So in this case I think everything must be based on ourselves and from our thoughts and beliefs because even if we are in bitcoin but you do dangerous things like trading losses will still occur and you could lose everything you have in the end.

Bitcoin investment will make you a better trader. Your statement is completely confused because you are talking about investing once and trading. Based on your statement it is still not clear that you have acquired basic knowledge about investing and trading. Buy the Dip and Hodl This thread only discusses Bitcoin investing. Also, this thread is probably not meant to discuss meme coins or shit coins. If you are more experienced with meme coins and shit coins then you can discuss in trading discussion thread or Altcoins discussion thread.

Ser, please read my post. What you have posted is another discussion that's not in the context of what I have posted. I'm not trying to offend you, but let's not debate merely for the sake of trying to win the debate by using straw men.


That's simply the actual situation for some people. That's probably why if some of you HODLers actually make something that can change your lives, use that wealth to help others, especially close relatives and friends.

Implementing the DCA pattern can be done with a much smaller budget as long as people can continue to be consistent in doing it. That is why investing in bitcoin has the ease that can be achieved by anyone and is not limited to those who have a lot of money. If you make a DCA pattern every week then a budget of $20 can still be done consistently to buy bitcoin.

In living life, it is very important to have a job to earn money because in this way people can make a percentage of investment, savings or to meet their living needs. Invest according to your ability to be responsible even though the amount is small because if done consistently then slowly the bitcoin assets that we have will continue to grow.

There is always a way for anyone who wants to achieve financial freedom and bitcoin opens up space for anyone when they are consistent and continue to try to invest responsibly.

I understand all those guys who understand the potential of Bitcoin, the basics of investing and DCA and are ready to invest, but have no money for it.
This is a common story and it happens when someone has a small income, credit obligations, families or financial obligations for treatment.
I would advise such guys to look for a part-time job, or invest very small amounts, literally a few dollars. But this is important psychologically. This way, investors will feel their involvement, and this is important. After all, if they are really literate, then sooner or later they will find extra money and will be ready to invest significant money.

Bitcoin investment should be done with your discretionary income and forcing yourself to invest when you don't have discretionary income, because you will end up selling your bitcoin at loss to take care of your needs. Like what BITCOIN4X said, since $300 can not take care of their basic needs, they don't need to buy bitcoin because it is like playing with fire and a dumb idea. Remember that a family man has more responsibility than a bachelor, and even at that as a bachelor, my expenses and yours cannot be the same.

What those government workers should do is to look for a second means of income, so that they can use part of that money to invest in bitcoin when they get paid. They can also trim down their expenses, and it is not also compulsory that they should invest with 10%, they can use 5% to invest or $10 to invest weekly through DCA till their income increases. No discretionary income, no bitcoin investment.

Guys, I don't really understand why you write the word "trader", although you write about Bitcoin investing. Trading is a poorly controlled attempt to win on some period of time. And as a rule, traders do this on shitcoins, and even memecoins, and all this looks like gambling. But investing in Bitcoin with DCA is the most controlled investment process of all that I know.
And I think that this is what every cryptocurrency lover comes to, stopping worrying and trying to guess what will happen to cryptocurrencies tomorrow, although this is essentially impossible.

Bitcoin is a digital currency which is the king in the cryptocurrency world and all other coins are ministers.
If you look around you will notice that people are reluctant to give details on shitcoins, or give examples that are highly controversial. Bitcoin is undoubtedly the king of the crypto market because when Bitcoin falls all cryptos fall to a higher or lower degree, but when Bitcoin rises, altcoins do not rise to the same degree. You can make good investments in altcoins and shitcoins, if you know exactly when to get in and out, but not for long. As a point of empirical observation almost any currency other than bitcoin will look like shitcoin at some point. We observed that many people lost hundreds to thousands of dollars of their money to Shitcoins.
So I think we should focus on Bitcoin instead of other coins, because investing in Bitcoin will make you a good trader.

10% of $300 is just $30 per month. Are you trying to tell us that if thier salary was $270 that they will have to steal before meeting thier needs or would have to stay too strict about eating to minutely because of the difference of $30?

As humans, we have the nature of adapting to different situations and one of it is the ability to adapt and tailor down our expenses to equal how much we are earning. Don't be supprised that if you're earning $200 or even less than that for a month that you can still find a way of fixing all your needs into it or alternatively source for another source that will complement the $200 pay you're earning per month.

You know the saying that goes, "He that is faithful with that which is small will be faithful with that which is big" it applies here the most and if you can't Invest when you're earning $300, the possibility of doing so when you're earning $700 will be slim. With an increased earning comes more responsibility and the need to even upgrade your wants so it's best you start from whatever point you are while hoping that when things gets better, you can also increase your investment amount.

I think it has been emphasized by many contributors here that there can never been an ideal percentage of funds that should be allocated to Bitcoin investment because it is something the individual should work out based  on several factors. The percentage two individuals receiving the same salary will invest in Bitcoin differs because both might have different responsibilities. It is therefore not proper to allocate a percentage of personal income an investor will invest in Bitcoin. Another thing to also put in mind is that people have different priorities even as they plan to invest in Bitcoin. Someone might prioritize investing in Bitcoin and will allocate higher percentage than another one that might also have other priorities and can therefore go for lower percentage to be invested in Bitcoin.

What is most important is to invest an amount that will not represent so much financial burden on the investor so that the investment can be held for a long period of time because it is in long term investment that Bitcoin is best. This bring to mind the concept of DCA that allow the investor invest in a manner that will not be so much stress financially.