Topic: Buy the DIP, and HODL! - page 120. (Read 122049 times)

Exactly this thread is all about buying bitcoin and holding bitcoin for long-term. reagansimms you sounded more as trader than an investor because all what you are saying is base on short-term profits. Because an investor won't wait for the price to drop before accumulating, only a trader that will do such in order to make some terms profits ( which kinda risky ) because the chances of selling in loss as a short-term traders is higher compare to that of a long-term Investors.

And if you talking about the dip as the low price , we have means of handling such as an investor without having to stop accumulating due to waiting for dip . So if someone that want to focus on the dip alone, you will endup slowing the growth of your investment. That's why most time is better to have some reserve funds for the Dips while you keep your DCAing accumulation going. So please don't affect some newbies here that came to learn about holding for long-term mindset, they can literally accumulate anytime as long they have the funds to keep their DCAing going whether the price is high or low. There's reason why is the purchasing of bitcoin at different price interval.

Sure, you have the right idea regarding doing some reading prior to just jumping in, yet I doubt that there is any need to obtain any high level of knowledge prior to beginning to post and/or to contribute to forum discussions... Just the mere fact that you already posted a few times on the forum, including the above response post, shows that you are able to respond to ideas and to formulate sentences that are understandable.

Yeah, maybe it would be better to choose a shorter thread rather than a longer thread in order to read all of the posts of the thread first, yet there aren't any forum rules that provide any kind of exact guidelines regarding how much due diligence you need to do in order to post, and surely there are forum members who maybe need to read more before they post, but there might be other members (perhaps including you) who might need to post more since sometimes you will be able to interact with thread topics and with other forum members better if you are posting from time to time, whether it is daily or weekly or some other kind of interval that is comfortable for you, in the event that you want to learn and/or to share some of your knowledge and experiences, too.

There shouldn't be any issue for you to respond and/or contribute in this thread or any other forum thread if you either have some response to a post or some ideas about the OP that may or may not have had already been discussed in the thread.  Of course, in a long thread like this, it remains quite possible that we have touched on a lot of the topics related to the OP, but surely there are going to continue to be ways to post about the same topic over and over and over, and even with the passage or time to have variation of similar topics that are brought up by different members and in different ways or in their own ways, which seems to be part of the explanation for ongoing daily posts that have been taking place in this thread (and yeah, in recent times, this thread has become one of the most active threads on the forum).  

Even talking about some of your own experiences or asking some questions may well end up being quite welcome in a thread like this one.. or maybe another thread if you might consider this particular thread to be too long for your own comfort level..

Participation in this here thread is open to any (or all) forum members.. so yeah, you are welcome, and use your discretion regarding if and/or how you want to further post (and how frequently too).. whether in this thread or in any other forum thread.

When I started on the forum, I had intended to average post around 1-2 times per day..... so I did not really want to post too much, but I also did want to try to post on a fairly regular basis in order to help me with my own participation in the bitcoin topic but also in my own interest in bitcoin as a topic (including my desires to learn more through my own participation attempts), so I don't see any problem with any newbie member (whether you or any other newbie forum member) figuring out ways to post fairly regularly in this forum and in whichever thread happens to be of interest to him/her (or you).  So yes.. I glanced at your previous posts, and sure post away, and welcome to the forum.


So far, I had never heard about Treasure wallet as a software wallet, so I am not sure how secure it is. Maybe you need to provide a link?

I have heard of Trezor as a hardware wallet, and they have several models of hardware wallets - look at trezor.io.

I know that Electrum is very popular open source software wallet for a long time, yet I have not personally used it... but there are quite a few forum members who use it and recommend it.. yet you have to also make sure that you are downloading a proper version of it rather than a fake.. so there can be problems with losing funds if you download software that has not been properly sourced and/or checked to make sure it isn't fake... or leading you to fake software that ends up stealing your coins.. maybe even at a date that is further down the road, after you had already been using it for a while and then after you might transfer a higher amount of value onto it.


That is not true.

If you are new to bitcoin (and bitcoin investing), then how the fuck are you going to know if bitcoin is trading low or not?  Even people who have been in bitcoin a long time have hardly any clue about whether bitcoin is trading low or not, so how is a newbie bitcoin investor going to figure out if bitcoin is trading low or not?

That is bad advice to suggest that a newbie needs to seek low BTC prices before acting or in order to prepare or whatever you are erroneously advising.


Ok.. this part might have some truth to it, yet if you are a newbie.. what the fuck are you going to do?  Yeah, sure get started as soon as possible, but as a newbie, you still might need to just figure out some kind of a reasonable starting BTC accumulation strategy and not get too worked up about what the BTC price is doing... .. sure there could be some regrets if someone delays investing, and the price goes up.. and so maybe that can largely only inform to get started, but it does not really inform about how to get started or how to figure out how much discretionary income that any newbie might have while getting started investing into bitcoin, so the newbie still has to figure out discretionary income matters and how to balance his/her level of aggressiveness in terms of how s/he is getting started in accumulating bitcoin.


I doubt that this focus on price is very helpful or good for newbies.  Sure, a newbie can pay attention to price, but maybe the newbie is just buying BTC at any price for the first 4 years or more before there might be any need to really get worked up about whatever happens to be BTC prices.

So for example, if a newbie bitcoin investor calculates that he has around $200 per week of discretionary income, and he decides to buy $100 of bitcoin per week, it could well be that the BTC price does not really matter so much for the first 4 years or longer, but sure, as he is investing into bitcoin, he might continue to study bitcoin, and if he happens to have some other money that he can invest in the beginning, then sure maybe he can think about whether to lump sum invest with the other money and/or to DCA and/or to buy on the dip with the other money. So there could be circumstances in which a newbie might consider whether to calculate whether there might be a dip or not, but it still seems potentially problematic to assume that any newbie should be starting out his bitcoin investment by getting worked up about whether there might be a dip or not.


You are really off topic now.

We are not talking about trading in this thread.. so you seem to not even know what the thread is about, even though there have been many members posting in this thread and reminding other members that this thread is not about trading... .. so you need to find another thread if you want to be fucking around with trading or talking about it as if it were either relevant to this thread or something that any newbie should be doing in order to accumulate BTC... which this thread is also about accumulating BTC... and it seems quite problematic to sell BTC in order to accumulate BTC, which seems to be what you are suggesting, reagansimms.

I don't really know the mistake you are referring to, but if it's about buying Bitcoin only when money comes their way, I wouldn't necessarily call that a mistake in Bitcoin investment, especially for those who are prepared to hold for a long period of time. However, if you are talking about a certain group of people who always try to time the market before accumulating Bitcoin, I would say they are getting it wrong because the market price of Bitcoin may not drop to the level they have in mind. This could cause them to wait for a very long time, and they might miss their opportunity to invest in Bitcoin altogether. Therefore, I would fully advise those individuals to follow the Dollar Cost Averaging (DCA) method of accumulating Bitcoin, which involves regularly buying a fixed dollar amount of Bitcoin regardless of its price. There is nothing wrong with buying Bitcoin when you have the means to do so and making a one-time purchase, but it can be more effective to consistently invest over time.

The DCA method of investing bitcoin is one of the easiest form of investing bitcoin to hodl, I think using this method to invest bitcoin one will be able to accumulate good amount of Bitcoin that it will be so surprising that such amount of Bitcoin can be accumulated. But it takes only understanding for investors to undergo this method of investing, I don't think this method of investing will go well for those that do not understand bitcoin well even if you try to convince them it will be something so difficult for them. In bitcoin investment I don't even think it is right to even try to convince people on how to make their investment.  I believe investment should be done by choice after a research must have be done for the investor to be convinced he is doing the right thing. It is best for people to under and have reason why they choosing a particular method of investment and not just investing because of people's ideas and advice.

Consistency is very important in the lives of a Bitcoin investors because that is what will guarantee your sufficiency in the future, which is why having a focus is very important and that's what most people lack which is why they decides to accumulate whenever they feel Is necessary for them and in most cases they always like to monitor the price movement of Bitcoin before they will start accumulating, but in other words when an investor have a targeted amounts of Bitcoin to acquire within a certain periods you will see that the person will be very consistent and disregarding the price of Bitcoin and in the future you see them very successful on there investment, so in summary there is no need analyzing the market before buying because there is a great future awaits, so this moment should be a privilege for people to take advantage of.

Bitcoin is a very safe currency for investment as well as one can invest in this coin with reliability. There are many investors who adopt Bitcoin as their first choice for investment. Investing in Bitcoin does not require much market due diligence as volatility is normal in the Bitcoin market, where the market does not suddenly increase by a large amount and the market does not suddenly dump heavily. Market fluctuates within certain rules so here if an investor invests in DCA investment method then he will definitely succeed in his investment. Basically we have to keep the plan like I invested later so we must be sure that we don't have to sell our investment before the specified time. 

If we can maintain the consistency of our investment periodically without selling the investment before the specified period, but at the end of the specified period we will have the possibility of earning a good amount of profit from this investment

Of course I agree with you. That's because Bitcoin investment requires our knowledge. If we don't have proper knowledge about Bitcoin, we can't achieve Bitcoin success. On the one hand, as we need a lot of knowledge about Bitcoin, on the other hand, we must always have a long-term plan in the case of Bitcoin investment. If we can invest in the market with a long-term plan, we will definitely be able to achieve the goal of investing in Bitcoin. Just as we need patience, planning and enough knowledge to invest in Bitcoin, we also need a reliable wallet. WHY WE NEED A RELIABLE WALLET TO HOLD BITCOIN Many a times it is seen that if we don't have a reliable wallet then we face a lot of problems so we definitely need a reliable wallet for us.

Of course you have to have a plan, having it means we are ready to do it, but we also have to be able to see the risks that cannot be eliminated. There are many strategies that can be done and it depends on which one we want to do. One of them is DCA, which is probably done more by everyone because it is easy to do.

Even though you have to take advantage of the opportunity when the price of Bitcoin is low, I know that everyone won't do it, unless they really understand, because there are people who are fomo about things like this and of course that's not right.

Investment definitely requires knowledge. But I don't think much knowledge is needed to invest or holding Bitcoin. If a person uses a secure wallet to hold his bitcoins and also what is the DCA and how much profit can he make holding bitcoins in the long term and what is the potentiality of bitcoin initially these are important. I don't think it takes much knowledge to know these things. So, what I want to focus on is that if one wants to invest in Bitcoin, it will definitely not be a wrong decision if one invests in Bitcoin with minimum knowledge without delay. There are many who spend a long time investing in Bitcoin which often misses the opportunity to buy from the dip. If an investor invests in Bitcoins after acquiring the general knowledge for investing and follow DCA then he is definitely ahead in holding. On the one hand, the amount of bitcoins he collects will increase and on the other hand, he will have the opportunity to gain more knowledge about bitcoins.

There is no reason to delay buying Bitcoin if you already have the intention and are equipped with the funds to invest. According to the main concept in investing which is generally used by other investors, you must always prepare yourself when Bitcoin is trading at low prices. The biggest regret is when you delay buying Bitcoin and then the price soars even higher, making a late decision is a mistake in investing, especially if you are mentally and financially ready to invest. You have to be more active in monitoring market movements so you don't miss the boat, the price continues to fluctuate, making you have to make a decision immediately when Bitcoin starts trading at the price you want.

Buying at every dip requires waiting for the right moment, you also have to prepare funds to be invested in a slightly larger amount. Meanwhile, if you use the DCA strategy you can buy Bitcoin at any time with a certain amount consistently. Both of these strategies have their own advantages and disadvantages. If you are used to the strategy of waiting for Bitcoin to trade at a low price, you will have to collect funds that are larger than the amount you bought with the DCA strategy.

I couldn't agree more with you, this is true in any field that requires knowledge. Because you can never do the right thing if you don't have the knowledge, Bitcoin investment is a very sensitive subject. Because it is most important to have enough knowledge about how you invest and how to follow the DCA method. Many buy dips in DCA method and many individuals invest in DCA method. Therefore, it is most important to research investment strategies, and the more knowledge you gain, the higher your chances of success. You note that acquiring knowledge is never a loss but the more the knowledge increases the more successful the person is.


Wallets are generally of two types, software wallets and hardware wallets. Especially those who use software wallets and the most powerful among software wallets is Treasure Wallet, Electrum Wallet, these wallets are very safe and affordable.

As long as you apologize to yourself, there's no problem. Because now delaying buying Bitcoin when the price is lower than before is almost the same as delaying doing something that is good and capable of being done very well by ourselves or by anyone who knows Bitcoin well enough. Investors who are still enthusiastic and active enough to continue buying Bitcoin and continue to maintain what they have bought should not remain silent. Because at this time everyone must remain active in monitoring the market and also analyzing market trends because I just saw that the price of Bitcoin has exceeded $60K again today.

That's how good about bitcoin investment since all can able to do this and they just need knowledge about DCA or other strategy that can help them to proceed then succeed on their plans for long term on their investment. While in trading there are lots of stress they are going thru and there are huge chances for them to lose if they commit even single mistake on their trades.

That's why they should forget about anything thoughts about trading bitcoin especially if they easily got nervous on situations like if there's a fud spreading since usually that feeling will result them to dump their bitcoins then totally lose at that situation. Being smart on our money used for investment is always good since there's nothing to retrieve back if we are already losing our money so we should choose what's best to avoid committing expensive mistake.

Yes we are not developers who have to know those complicated technicals, investors like us just need to learn the basics of a simple but relevant investment strategy for ourselves and it should be customized whether we are with DCA or buy dips on every dip it is important we have a plan for it.

Actually, bitcoin investment is easy with even small money we can do it, and indeed never delay investing while the price of bitcoin is still low, this is the best solution where we can start now, do not let when the price of bitcoin is high then say sorry.

One beauty about bitcoin is that one don't need any complex or technical knowledge before investing in it. Like trading for instance one have to go through alot of searching and training learning all such way to run technical analysis. But bitcoin investing with the basic knowledge one is ready to start his bitcoin journey. Bitcoin investment ain't something one should approach with procastinating, because it may only lead to one missing alot of opportunities in bitcoin.

Yeah security also play a vital role when it comes to Bitcoin, that's why noncustodial wallet is the best to hold your bitcoin.

Yea, it is only the basic knowledge of bitcoin that a new beginner that wants to start his accumulating his bitcoin needs which is just to buy and hodli in a long term. Learning about wallets security of storing bitcoin should not be done before you start investing because you can learn that as you are investing and not before investing because you can keep your bitcoin in an exchange first for it to accumulate upto $500 and above before you send it to your self custody wallet to avoid many small output to become one input because no one knows if we will have a very high transaction fee in future to avoid transaction fee eating up all almost all your profit from your bitcoin investment. Also we do experience high transaction fee based on the blockchain congestion and it is better to buy and keep in an exchange till it gets to a higher amount before sending it to your self custody wallet.

Also you should not forget that since you plan to only buy and hodli, a good airgapped wallet is needed which it will be more difficult for a newbie to set up electrum cold storage wallet due to the technicalities in setting it up and buying a hardware wallet might still be a challenge for him as a newbie. The more the size of your bitcoin sizes increases, the more that investor will be looking for every means to make sure that his bitcoin are stored safely.

Seeking knowledge before engaging in anything is very important so you get to know the in depth details of it and that way it will be difficult to get scammed. It is important to seek at least basic knowledge before investing and understanding how investments work but taking too long to invest could make someone miss out on certain opportunities of making some profit so since investing is not too risky and doesn’t really require doing any serious thing other than buying and holding I don’t think there is any reason to delay investing once you know how to manage and secure your wallet and have your investment plan setup. You can accumulate bitcoin and still improve your knowledge gradually just as everyone is doing here because there is no end to knowledge and there will always be new things to learn.

The word "reflecting" is so important that we cannot overlook it. There comes a time when there is little time to pay proper attention to it. But we need to take appropriate care of our money to use it properly. If money is not used correctly, at the end of the day or the end of the month, it will be seen that whatever income we earn will not be there. We will be left with scarcity. That is why it is so important to take care of our money.

One has to be very careful about managing money, and everything has to be distributed beautifully. No money can be spent unnecessarily on a loss project. Always remember that money is very valuable and should be used properly.

I couldn't buy anything like that, but I invested in Bitcoins. I invest little by little because I support my family, and then I invest some of my money.

Otherwise, I don't invest money in any other way. I don't think of investing money elsewhere because we need a lot of money to move into this world. Living a simple life costs little. In fact, there is no need to spend extra. I just do what I need and do not do anything extra.

The monthly salary is within a limit. We get more than we get paid when we overwork. Earn some extra money by working some extra hours after the job. Weekly and monthly salaries are limited, and we have to work extra to earn more than that.

There are certainly ways to increase income. It depends on you. If you have skills in your work, you can earn extra income if you have good skills. I earn additional income by using my skills to earn extra income.

There are ways to raise investment funds. It's different for everyone, so everyone can increase their investment in their own way. I regularly invest in a few things and will continue to do so. I invest the rest that remains without meeting my own needs.

Saving progress: I can see the good savings progress of those who invest regularly and maintain this trend. Investing is saving money; saving progress is better.

I have shared with you the ones that have worked for me. This is how I proceed according to my plan. The money I invested sometimes got me out of a lot of trouble. Sometimes, we need a lot of money, and we have to solve this problem by borrowing or taking a loan, but if we have such good savings, then we can overcome the time of danger with it.

Our needs were pleasant and straightforward. We had to understand what we needed and what we didn't need. Doing anything more than necessary will save us money. We can do it by being careful about money without wasting it. Money can be spent on things that are useful in our daily life. As you get the essentials right, you'll see how much you manage to save slowly grow.

I notice a lot of mistakes in investing by those around me who are involved in investing but some investors I point out their mistakes and advise them to invest in the right way and on the other hand there are some investors whom I don't try to convince. I advise those who listen to me and believe in me to invest in the DCA investment method as it makes their investment journey much easier. Many people have achieved great success by investing following my advice. I got so easy idea about investment from this section so thanks to every member of this section.

Let me make it simple for you, try focus on following up with JayJuanGee posts on this thread, with that you will have a clear understanding of what the whole discussions right from page one of this thread is all about when you hear, Buy the DIP, and HODL!  Before that, let me throw a little light about the discussion, it's about buying and hodling Bitcoin with a long term intention plan in building your portfolio, you can do this using the Dollar Cost Average (DCA) strategy where you constantly have to buy in the little amount you can either weekly or monthly from your income. And just as JayJuanGee will say, make sure to have a savings and emergency funds while you building your portfolio not to be pressured on selling prematurely due to emergencies and FUDs.

Welcome to the forum, mate.