Topic: Buy the DIP, and HODL! - page 134. (Read 122124 times)

I am finding this statement really confusing. Are there other purpose of investing in Bitcoin outside getting more than what you invested?, Because I don't think anyone in a right state of mind would want to invest in Bitcoin inorder to make loss. If you invest in Bitcoin, then your real purpose is to get more than the amount you invested after a specific time. The same thing goes for me, and every other person, so I don't know the other real purpose you think many people do not know about.


This is where I find interesting. This is clearly a wrong approach(and not purpose) that some people use in making their investment. You've just said the word "Time and patience". They are very essential while making Bitcoin investment, so as to fulfill the real purpose of what everyone seek while making Bitcoin investment.

What you say is quite correct to tell everyone and also people who say cryptocurrency but still imagine it is Bitcoin. Even though everyone can directly say Bitcoin without having to change it to other more general words because in the discussion of this topic there is no mention of other coins apart from Bitcoin. And I also quite agree with your direction on this one because maybe the person has not read more clarification on the words Bitcoin and cryptocurrency on the previous pages so they still use inappropriate words to describe Bitcoin and can be quite confusing for beginners. Because in this topic there are also many beginners who come in to discuss and I think this is very good for everyone and also for the beginners themselves.

Those investors who are upset because of the current price of bitcoin are only in bitcoin investments for short-term profit, and they are upset because they cannot sell their bitcoin now to take their short-term profit. They are in this situation because they fail to understand that bitcoin is not quick to get rich soon. This is why it is good for newbies who want to start their bitcoin investment to have a long-term plan when they are investing in bitcoin so that they will take advantage of opportunities like this to accumulate more bitcoin at a low price rather than being worried.

There is a saying that "when the purpose of a thing is not known, then abuse becomes inevitable". This statement is so true for Bitcoin investment because many people do not know the real purpose of investing in Bitcoin neither do they have plans for same investment.  Some just bought because of the trend while others bought because they want to be rich within a short time. Those who have plans such as I have mentioned, actually planned theoretically without facing the fact that Bitcoin requires time and patience.

If we must tell ourselves the truth, Bitcoin have done so well already and from this time last year till now it has done over 100%. I do not see why people will panic when the price of Bitcoin is pretty high and even looking so promising to do more. I understand that some people jumped in following the hype of the halving. Well those of them who have not sold at loss are more than welcome to change their mind into long term holding because those who follow Bitcoin with patience will always reap the fulll reward.

This aspect of generalizing the meaning such term crypto or cryptocurrency in terms Bitcoin and other coins has been severally been corrected here considering the fact that there is no way a newbie can understand that your are referring to Bitcoin as the thread is a Bitcoin thread , Bitcoin is Bitcoin the best coin among others such that it's performance determine the performance of other coins, it still among the best if not the best when it comes to the world largest digital asset class.

And we need to do that since how those people could able to learn if we didn't oppose on their wrong statement posted. So for them to learn their mistake we should voice out our concern then provide solid proof pointing out that they are wrong so for sure with that they can learn something then correct everything to make a better decision especially for their investments.

We can clearly identify those people clearly opposing without posting any proof to strengthen up their arguments then I guess no substantial new ideas we can get from their corrections or criticism.

That's why also we need to properly communicate to people so that we could able to correct their misunderstandings and explain if we have same point so that there will be no confusion on both side then the discussions will be more focus on strategy that they want to build when everything understand each other.

Since morning i have not been able to come online but this thread is the first place i ran to because i don’t want to miss out on any more discussions and will like to be part of discussions from now. I really appreciate all the encouragements from everyone and the advice, now i know that if i don’t share my ideas i might probably not get to learn anything and when i am wrong i will learn and take corrections.


I actually encountered some questions that needed answers and some things I couldn't understand on my own despite my best efforts to learn on my own, and I've realized that certain journeys are not meant to be taken alone, and you'll need the help of others along the way, just as I do here. I used to have a lot of questions to ask about best investment practices, but I wasn't sure if such basic questions would be taken seriously, or maybe the discussion has been buried within the pages of the thread. It's a lot of pages to go through, but I've gone through some and have been able to learn one or two things, even though some discussions are actually more advanced for my level now. I suppose my fear was criticism. I'm still working on setting up my own investment model to fit my budget, I'm not pushing it too quickly at this point because I'm still learning.

It is true that if you do not share your ideas or experiences, others will be unaware of them. Some people may even have similar experiences and can easily share with you the best thing to do at such points, it may be something they failed to do at the time, but their experience will be able to prevent others from making the same mistakes they did. I had a terrible first encounter as well, but I've since learned from my mistakes and improved my ignorance and curiosity.


Those who believe that the current state of bitcoin is the only reason it is failing are presumably impatient investors or those who bought because they were afraid of missing the approaching bull run and tried to take advantage by investing immediately after the halving. They are upset that things didn't turn out as planned and that they were blind to the decline. Competent investors will not panic and begin to believe that bitcoin is failing, but rather will see this as a chance to keep buying the dip.

How can you refer to bitcoin as a broken record? As far as I am concerned, bitcoin is the best innovation that has happened to mankind recently, and we should be happy we are in this era. I think there is no need for you to panic about bitcoin prices not being high now; instead, use this opportunity if you have enough discretionary funds to accumulate more bitcoin at a low price. If you have been following bitcoin for a long time now, you will know nobody can force or accurately predict the price of bitcoin. Bitcoin set a new all-time high before the approval of the ETFs, which nobody expected to happen. Bitcoin will get back to its bullish state when the time is right.

Halving is indeed an important part of bitcoin. The problem is that the topic isn't properly being put into a coherent context. Coinbase transactions matter and if the coinbase rewards decrease, it entails a whole array of discussions regarding miner rewards, fees and how to maintain the incentive structure such that bitcoin will be sufficiently supported by miners in order to keep up its current level of security. Less hash power, less security. Less rewards, less miners? Answer, higher fees? > Less adoption?

This what the discussion should be about although not in this thread. But it does make sense to discuss these things regardless as the thread title contains the term "HODL". The question is, is it worth HODLing bitcoin? My answer is yes as there is technology in the pipeline that can address some of the issues coming up with decreasing coinbase rewards and required increase in adoption to generate more transaction fees, more incentives for miners to stay in business. Adoption should go hand in hand with decreased selling pressure and increased buying pressure. If Lightning network allows for micro transactions at scale one day, velocity would increase but probably still reduce selling pressure. There are people who want to HODL, and there are people who want to use it for various purposes. But the network needs to remain secure and that is why the halving debate and its implications makes sense, but not from the point of view that people could think bitcoin goes through the roof naturally every the block reward is cut in half. That is nonsense, but it has manifested itself in the brains of most newbies and those being naive.

We need to go back to what we invested for in the first place. Do you just want to see the price of bitcoin increase rapidly in a short time or want to see progress for the long term. What bitcoin is doing right now, i dissagree if it is said to be a broken record just because some people think that Halving and ETFs will make bitcoin jump quickly and take advantage by getting out of bitcoin because it is considered profitable.

ETFs and Halving are only a small part of the events we face in bitcoin so there is no need to feel that bitcoin is failing and like a broken record just bcause your expectations do not match the expectations that occur.
We are not making a trade that only thinks bitcoin will be able to accelerate in a short time because what we are aiming for is a longterm investment that really wants a situation where we have financial freedom in the future with bitcoin .  Its just that most people especially for beginners,  are too referring to ETFs and halvings that have occurred and expect bitcoin to jump and get instant profits but they dont realize that investing in bitcoin is not like that in terms of concepts.

Bitcoin can never sound like a broken record. maybe it's you who doesn't seam to understand what you are saying. I find it problematic when you address a potential asset like bitcoin like that. I think you should invest more than talking those gobble-dee-gook talk, addressing bitcoin growth as such. Surely there are time like that when bitcoin grow so rapidly according to speculation but that doesn't mean all speculation Must align to the growth of bitcoin. Yea surely it might be dip down for some couples of weeks/ months but will not be staggering forever.

Yea surely most investors may cool somewhat as you may explain, but it may as well be vise versa that the more investors cool the more many investors also troop in taking advantage of the dip in price of bitcoin.

Your choice of words explain more of affinity scam just  as JJG may say. I think you should be more specific in your explanation by using the right word bitcoin instead of crypto. because both may be prone to misconception and contradiction and as well be misleeding.

Can you explain further how bitcoin is sounding like a broken record recently? For your information bitcoin broke the previous ATH and set a new one around $73k, that's to tell you that there are still interest in bitcoin and bitcoin is still one of the most talked about investment for years now. That doesn't sound to me like a broken record. What we are seeing now in the market is normal occourance. We all as hodlers are not concerned about that, our primary focus is to keep doing what we know how to do best, that's continuing with our buying plan. To long term holders the current market situation is a blessing for us, because we are buying reasonable stash of bitcoin at a reduced amount. For retailers like you it will be a bad market for you as you are not making the daily peanuts you usually get. But don't come and disturb us here with your retailing ideology, as this thread is specifically dedicated to long term hodlers. We buy and Hodl!!

You are contradicting yourself by using the word cryptocurrency instead of bitcoin even when you were referring to bitcoin. Bitcoin is unique and has survived for long compared to shitcoins and the reason is that bitcoin has great potential due to its decentralized nature. This is why investing in bitcoin is good because it serves as an hedge against inflation, you are your own bank and bitcoin gives your the opportunity to make profit from hodling your bitcoin investment for a long period of time because the price of bitcoin increases overtime.

Shitcoins are centralized and most dev created them to deceive investors that it can be like bitcoin, unknown to the investors that these shitcoins are pump and dump. This is why I see shitcoins as gambling and not investment. A newbie like you should only focus on bitcoin and don't think that all cryptocurrency has the same potential like bitcoin, because they will not last long. You said something about ETF, only bitcoin ETF is functioning because bitcoin has being recognized by the US that it has come to stay.

From you discretionary income, you should assign an amount that you can use to buy bitcoin regularly weekly or monthly that will not affect you so that you can continue buying for at least 4-10 years and above non stop to build and grow your portfolio. Emergency funds is also needed to prevent you from selling part of your bitcoin when it is not of your own will. I see that you are a newbie always visit this thread to learn more on how to go about with your bitcoin investment journey.

I also think the longer you stay in Bitcoin investment with consistency the more experience you will get, JayJuanGee was said and I quote "You can also learn along the way.. so you might have certain ideas in your earlier years of your investing that you change later down the road, because you figure out that there are systems that work better for you or that you have to tweak your systems from time to time to hep yourself both financially and psychologically"
So it is certain that the longer you stay in Bitcoin investment the more knowledge you will have and it is also good to be in a forum like this it helps you grow in wisdom and knowledge, when I started Bitcoin investment I had only the basic knowledge but today I have added a little more knowledge. The longer one keeps his investment going the more knowledgeable he or she will become. Experience they say is the best teacher and experience can only come when you have been into something for some number of years.

The gradual increase in investment in Bitcoin at the institutional and individual level can give your investment more hope, which may inspire you to increase your holdings. If you are a new investor then DCA can be the best policy for you. The DCA strategy encourages you to accumulate more Bitcoins over time and luckily will keep you a few steps ahead of the buying trend in bearish markets. Regardless of the price of Bitcoin as you continue to buy each month and are able to fill a circle you should tend to increase your holdings within your purchasing power. Bitcoin's past price history may influence you to be aggressive in investing, but you should have all the tools to continue saving for the long term, such as having floating cash for emergencies. Bitcoin holdings in overall considerations.

Your last paragraph can be very problematic and it can also be misleading in the sense that this particular thread  is talking about how we can accumulate more Bitcoin and hodl for a longer period of time which can be 4-10 years and above and not about accumulating altcoins which is untrustworthy.

For you would have been more specific when using the word Crypto here for there are other newbies here or new investors which might think that you are talking about shitcoins which is unreliable to invest in because the word Crypto addresses the whole cryptocurrency market so don't confuse them here for it is better you call it Bitcoin for Bitcoin or altcoins for altcoins to be more specific rather than generalizing to Crypto. For you may be right in what you have said but newbie here might believe or think you are advising them to go and invest into altcoins.

Actually the knowledge about Bitcoin I have acquire here made me to realize that sometimes being very knowledgeable doesn't determine how long someone have been into investment because let me use myself for instance, in as much as I have started my Bitcoin journey before visiting this thread but I have not been able to understand so many things about Bitcoin but after being here for sometime and reading your quotes about Bitcoin investment I realized that I was missing a lot before but now i have been able to understand a lot about Bitcoin investment.

The reality here is that for a while Bitcoin started to sound like a broken record. Huge investor inflows into ETFs could drive up Bitcoin's price. Again, although the flow of ETF-investors has cooled somewhat, the momentum of capital in cryptocurrencies is considered to be increasing. But don't worry, we've seen this story before with Bitcoin. And experienced cryptocurrency investors know this has happened to Bitcoin before Again the price of Bitcoin is not going up, even if it plays an indirect role for ETFs, the main reason is that you have retail and top buyers investors like me who are not institutional investors, you will notice that retail investors are increasing their holdings in Bitcoin. As time goes by we can expect more institutional investors to start buying crypto.

Sure, it could be true that in the very beginning of your bitcoin journey, you might hardly have anything to contribute beyond potentially asking questions, and sometimes longer term members will get annoyed when new member ask some seemingly basic questions that they should be able to fairly easily figure out, yet if you are doing some of your own homework and you are setting up your own systems (such as financial, cash management, and psychological systems), and you are also doing some of your own research, there are surely going to be times in which your learnings become more informed - yet you might have various questions about what you are doing and something might be difficult to figure out on your own, especially if you might recognize several competing options but you might be unclear in your own head about advantages and/or disadvantages in regards to various kinds of potential set ups and/or practices, and so I would thing that you would be able to ask questions or even make comments and suggestions that relate to your learnings or areas of your feeling that you don't really understand, even if some of the questions are seemingly basic and even if some of us in this thread might have covered some of the themes of your questions at various historical points in this thread. 

I doubt that we should be expecting that you read and/or understand anything close to the contents of the 472 previous pages of this thread prior to being able to interact.. but if you at least read the OP and maybe the first few pages of the thread, and maybe go through some various posts in the thread and maybe read some of the recent posts of the thread, then that should be enough in order to demonstrate some leel of due diligence.... that would show that at least you are trying to interact with some of the already happened discussions..

Part of the reason for threads like this is to interact with members at what ever point each of us are at, and sometimes some of the threads seem to have had gotten beyond the mere basics, but even our getting beyond the basics does not mean that we should not be welcome to somewhat basic questions from beginners (or bitcoin newbies), because we likely should realize that something around 99% of the world's population are either no coiners or low coiners, and frequently it will take several repetitions of certain new ideas for any newbie bitcoiner before the ideas both start to sink in that you are able to understand the ideas with better clarity, but that you are also able to communicate with other members about the ideas that you have, whether members here agree with you or not.   There are also some folks who come to the thread with other kinds of life-experiences, so none of us can really know your life experiences unless you share some of the ideas that you have that might be based on your experiences and your presumptions.. which might be something that we previously discussed, or maybe we have not yet discussed, so nothing wrong with bringing in some life experiences from time to time, whether you are a bitcoin or investment newbie or someone who has some kinds of experiences that might be worthy of sharing in a thread like this.


Actually that is another good way of framing the matter, which is that many of us can learn better when we participate and interact in the forum and in threads like this, which was part of my own reason for joining and participating in the forum over 10 years ago... and continues to be my motivation to date. 

There are ways to try to participate, but also to try to read quite a bit too so that you are not totally off-base in the kinds of things that you are asking, and surely if other members interact with you, it tends to be better to try to take into account what they are saying, and sometimes other members will end up giving really bad advice.. or some kinds of suggestions that you believe are not good for your situation. Surely, in the end you have to decide for yourself, and surely sometimes there can be quite a bit of problem by following other forum members without making sure that what they say is actually applicable to your own situation and also that you sufficiently understand the trade-offs since you are going to be the one responsible for your own actions, and no one is going to feel sorry for you if you say that you were  just doing what one or another member had suggested that you do, whether it be from me or any other member. 

Even though I personally try to make suggestions that fit with other members, there are surely going to be times that what I say is not really very fitting for your own circumstances, so you gotta be careful in regards to figuring out various systems that might work for you whether it is actual bitcoin buys or maybe various ways that you organize your own personal monthly cashflows and account for your income versus your expenses in terms of figuring out how much bitcoin you are able to buy each month - or how much fiat that you are able to dedicate towards buying bitcoin each month/week or whatever is your buying time intervals.


I don't see anything wrong with opposing the ideas of other members, and those who oppose ideas of other members while giving reasons (and perhaps even evidence) for why they oppose the ideas will provide fruit for deeper discussions.  Sure there are some members who seem to just oppose for the sake of opposing, so that can be a bit annoying if some members are not really explaining why they are for or against some ideas...and yeah, sometimes it can be a bit unclear regarding how much evidence and/or explanation is needed when opposing the ideas of another member, so each of us has to make those kinds of choices regarding how much we believe we need to back up our own ideas -especially if we consider them to be going against what other members might be saying...

and sometimes we get the facts and/or the logic wrong too.. so sometimes we might believe that we are saying different things from other members, but we just end up saying similar things in different ways... so the ways of communicating can continue to be confusing for some of us from time to time, too.

Although a large portion of investors have a general idea about Bitcoin, they are not very interested in collecting Bitcoins. Many of them do not understand the benefits of holding bitcoins for long term and there are many who sell their bitcoins for small profit in short term. There are others who can't hold their emotions because of the slight drop in Bitcoin price. They lose their wealth during that time. They don't know how to grow their Bitcoin portfolio by doing DCA for a long period of time to the best of their ability. All these things being part of this thread an investor can gain a lot of knowledge about Bitcoin if they pay attention to it.