Topic: Buy the DIP, and HODL! - page 147. (Read 142446 times)

The dip is an opportunity and a chance to buy more bitcoin but don't wait for it before to happen before investing . Waiting for a dip is simply means that you're timing the market of which there is no perfect time to invest in bitcoin than doing right away with the available funds using a DCA strategy which can help an investor buy and accumulate bitcoin at comfortable prices,  the approach can help reduce the stress of timing the market. It a gradual and a steady way to accumulate and build a Portfolio.

From the bolded part of your post it seems you have a wrong narrative of a holdler to be buying Bitcoin during the bear to be best option whereas a hodler prioritize buying Bitcoin regardless of the market conditions whether in bear or in bullish since the plan is to hold for a longer period of time, this can be misleading especially to newbies coming to the thread even thou the concepts of discussion is not  based on buying and selling Bitcoin but to buy and hold. it is the short term profits traders that prioritize buying Bitcoin in the bear market to sell the bull run. My point is that is that even in the bull run not every Bitcoin holder can be in profits but rather it is those who has a reasonable amount of Bitcoin and has held for a longer period of time possibly for about 4 to 10 years or even more.




You are right when you said it is good enough for anyone coming in to Bitcoin to have that mental preparedness so as to make an informed investment decisions but you are wrong when you said you have to make proper research to know when Bitcoin price is going down or going up, such criteria is  not necessary before any one could start his or her Bitcoin accumulation, why wasting time figuring to know when the price of Bitcoin is going down or going up get the fucking started with the dca strategy and figure out other things on your way up, forget about the price rather you should be thinking of increasing your holding. Being skeptical about Bitcoin is personal because Bitcoin has gone far beyond it's early stage.

You must mentally know that buy BTC in the bear run is the best decision for hodlers to take when buying BTC from the market, because it will help them to earn profits when they are about to sell BTC in the bull run, and that is where mentally hodlers feel like selling their BTC to accumulate profits. BTC has gone round in many societies and environments, and it has open many BTC users eyes to hodl their BTC till bull run occur because they know, that is the best season to make a reasonable profit from their investment and it has made many investors to alway pay attention to bull run whenever they are hodling their BTC.

In this aspect of long term hodling and short term hodling, it is the matter of choice because there are some people who are not after big profit and they prefer short term where they will be earning little profits, while there are some people who are after big profit to earn and their major strategy is long term hodling because that is the simple way they can earn big profits from their hodling.

What @ livingfree actually meant by jackpot is, when Bitcoin happens to experience a good price increase within the period an investor buys a certain amount. It's just like purchasing Bitcoin today at a price of $57K, and it went up to $67K the following week. To my best understanding, that's what I think he was trying to say.

And to add to what @ livingfree had said. I think it takes discipline to stick with the objectives and goals of Bitcoin investment. Because from a natural human perspective, if an investor gets/sees the price of Bitcoin rising to a very good level within a short period of making some purchases, there must surely be some element of thought that compels the investor to selling. I won't really call it greed. It's just the natural human nature to change with certain things around them. This is what makes us different from robots, that are designed to follow simple instructions.

So even if an investor has the objective of accumulating a certain amount on a weekly basis over a number of years and aim to meet a specific target by the end of that period, it will definitely require discipline to achieve these goals, because Bitcoin price increase can be very tempting. So I will continue to encourage all investors to have objectives and goals, and most especially have other sources of income that won't get us too attached to our investment because we already have something we can survive on.

The first thing to pay attention to when holding bitcoins is to prepare yourself mentally. BUY DIP AND HOLD by properly researching when bitcoin price is going down and when the price is going up. I think society and the environment still have a lot of skepticism about Bitcoin, which maybe puts us in a cycle when it comes to investing in Bitcoin. In fact, we are still in the early stages of discussing Bitcoin, which makes us skeptical about Holding Bitcoin. We need to gain step by step knowledge about Bitcoin and long term BTC investing strategy.

Maybe its just a self expression towards the profit they gain and call it as jackpot since gaining is means a win for them. Usually this is common word used by gambler so I assume that he is a gambler that's why he use those word on his statement.

But in bitcoin thing its really hard to spot a jackpot gains if we mean x1000 gain since gradual increase of price is usually happening with those coin. These kind of scenario happened on some shitcoins which we see pump and dump schemes is so common happening here. And people should avoid it if they don't want to experience painful defeat and maybe more better for to just go with bitcoin since provably that they will never get disappointed with this coin if they aim for long term.

Is there anything like jackpot on Bitcoin investment? Because I have not actually heard of it before, do you mind explaining it? Or is it when the Bitcoin price moves very higher as you are holding it that's why is considered to be jackpot? Well is the investors decision on what they intend for there investment because anybody who has made up there mind to invest on Bitcoin is not supposed to get too much attached with getting or wining a jackpot because there is a huge difference from a short term profit and long term profit because is obvious Long term will always supersede the short term.

I never like to think positively about short term bitcoin trading because it's pretty clear to me that the real profits are hidden in the long term accumulation of bitcoins. I may have spent some time to be able to understand what you mean.It is certainly logical that Bitcoin can be withdrawn if the spot price is above 25% if an investor has a decent sized holding. As per your advice I think it must be a sustained withdrawal trend as well as regular bitcoin accumulation so a logical suggestion to fill that void is to continue buying the DCA method uninterrupted.

Of course! An investor should build a rational holding in his long term Bitcoin journey where he will simultaneously accumulate Bitcoins in the DCA strategy and take advantage of a maximum 25% withdrawal from excess savings if the spot price is higher than the average purchase price.

most of the idea that tend to suggest that Bitcoin was created as a replacement to the fiat only shows that the individual has a wrong knowledge about Bitcoin and doesn't even understand the whole essence of Bitcoin creation. The best way to look at Bitcoin which an average person that's not still conversant with it purpose will easily understand is that Bitcoin is an international decentralized digital currency while fiat is a per nation centralized currency. the creation of the latter doesn't mean that the former has lost it value. It only suggest that with Bitcoin, you've been given full control over your money and that you've gotten the ability to make transaction accross different national boundaries at whatever time you want to with zero restriction of any sort.
the fact that he sees this idea he suggested as being smart is what even baffles me. Who makes an investment because he wants to use his investment as collateral for obtaining loan? If buying Bitcoin is all about such purpose, then most persons wouldn't consider investing in Bitcoin because it will totally look worthless. I don't even know why he's trying to relate the 21 Bitcoin in circulation to the reason one will go on to gamble with his investment by using it as a collateral for loans.

Owning Bitcoin is a precious previledge I wouldn't give away for any reason. It's reckless, careless and unwise to think that your accumulated Bitcoin has gotten less valuable to the extent of trading it in exchange for fiat which is far less reliable compared to Bitcoin.

It's very unfortunate that I have to read this.
Perhaps you are very far from reality, I don't know where you got your bitcoin orientation from but perhaps you're literally among the few marginalizing a fight against fiat which is never the intention of Satoshi nor bitcoiners because realistically we need fiat and bitcoin is not in anyway against fiat.

The intention was to create an alternative currency that works viz vice with fiat, bitcoin is never against the use of fiat but its a freedom currency which I prefer to call a paradigm, it's all about having full control over your finances which is the direct opposite to government desire, the governments does not appreciate anything that has do so much with privacy, freedom and that's why bitcoin is usually getting attacked by governments even though we see less of such case this days.

Bitcoin is a paradigm that has shifted our thoughts from only holding fiats in our banks without maximum security and privacy in our lives and also facing inflation problem but with the existence of bitcoin we now have full control over our assets or finances having your money in a self custodial wallet which absolutely freedom even though governments don't want such freedom to exist.

Back to your statement, apparently fiat is probably not going to disappear any time soon not even in the next centenary, so want you to realize how unrealistic that statement is but I do agree that bitcoin is best choice a beginner or anyone can afford at this point because its cheap when approached properly using DCA or any other method that might be convenient with he or she because if compared to assets or investments like real estate one will still have to save alot of money in order to purchase a building while at these same period he or she might be able to have accumulate at least a little stash of bitcoin that might in the process of saving even yield more interest even though I don't encourage short term investment.

No, no, no! Anyone using his bitcoin investment as a collateral is no worth regarding as smart because it makes no sense using your bitcoin to take loan on fiat. This is why we are advised to while planning on investing for a long time we also have a reliable income source if possible a stream's of income in order to avoid finding yourself in a messy situation where you would have to make such unwise decision because it's like telling an investor to stake his bitcoin for an altcoin.

I am with you, let's discourage people using Bitcoin as a collateral and the same goes for people using something as collateral to buy Bitcoin. If you want to buy Bitcoin, use how much you have and focus on DCA. Bitcoin won't run far away from us, it's always there in exchanges unless they start to limit the in flows and out flows of BTCs being bought on them but that's more unlikely to happen at this point.

Exactly.

Investments aren't mostly for short term although if you're in a jackpot and your investment pumped a lot in a short period, that's for you to decide.

But in the case of Bitcoin, this is better for long term holds.

First let’s start with the question how can someone be in debt and still has bitcoin in his wallet, the possible answers to this is the fact the person actually invested into bitcoin without fulfilling some basic requirements which I personally think is a very wrong idea. My first cateria is the funds set aside to invest into bitcoin must be an amount the investors can make do away with for a very long term this clearly shows that borrowed funds isn’t even acceptable as an investor. Secondly the investors most also have extra funds set aside for emergency.  

All this isn’t a requirement but I personally viewed it the with this one Can easily be patient in holding. Imagine having lots of bitcoin and then still be in a heavy debt which is due. If I ever find investors like this my advice is for them to taken a hit and then liquidate some of their holdings to pay off the debt. The choice of even using it as collateral is not welcome with me because holding to it means you’re still at the verge of losing it all why not just pay off the debt and then hold the rest or start accumulating gradually again. Bitcoin is here to actually better the financial system of the world through decentralization and many more features lacking in fiat but many people treat it as though it shouldn’t be spent even when it is for a very important purpose which is a bad habit to me. Long term holding is what we all advice but when it is only bitcoin that can save you out from some difficulties then it is best you make use of it

Get back on topic, buy on dips and hold.
Do not bring or continue the conversation towards loans and lending because that is out of the idea in this topic.
Take a lot of time to understand properly how to invest properly, because you are betting money in this investment, so make one wise decision to succeed.

Practice investing in the early stages, strengthen the budget first for your living needs, set aside a few percent because investment is not for one week but one year, five years, ten years and can even last a lifetime. So little by little it will become a hill. Just buy routinely like most people have done.

Bitcoin is worth more than using it as collateral to get little loan because you lack how to go about with your bitcoin journey in order for you to be able go hodli for a very long time. You should have a means of income which will enable you to take care of your monthly needs and whatever problem that might arise when you are investing in bitcoin and this is where emergency funds is very necessary to all bitcoin investors.

This is why it is not good for one to DCA over aggressively to avoid such thing like getting broke and using your bitcoin to take loan. This is the biggest risk I have ever heard about for someone to risk his bitcoin that he has taken his time to invest and build. It is better that you take a non collateral loan from your place of work or from people you know than using your bitcoin because you are the only person that can keep your bitcoin safe in your self custody wallet.

I believe it's a wrong move allocating once Bitcoin as collateral for some loan amount, I consider it a weak thinking and should be avoided. This forum is one platform that is able by some members to give out loans, yet we've never or I personally haven't witnessed a situation where Bitcoin not just any asset is being given as per collateral even the person issuing the loaned amount never asks for Bitcoin as collateral. Now let's imagine given Bitcoin as a collateral which the sent amount will be equivalent to dollar value of the Bitcoin, that means If by any circumstances unable to meet up the loan return then the lender is left by no option than to take the collateral (Bitcoin), if the lender understands the value of Bitcoin and decides to hold, in few or more period he might be getting X2 of what was sent as collateral.

I really appreciate it, if they want to learn from my experience, However, an investor has many bitter or sweet experiences but most of them don't want to reveal them. But that doesn't matter, the important thing is that they want to fix it so as not to repeat it in the ongoing investment.
I also checked your post history, Even the post I quoted is one of the posts you made on this forum, besides that it only contains application posts.
I think you should be able to improve yourself, be it the investment you make or improve yourself to discuss your approach to Bitcoin.

Yes it is a mistake and an act of carelessness, but it is very important for us not to be reckless in opening any site. even better not to open it because of fear of there being a phishing link listed which will result in our laptop being infiltrated by Hackers.

Of course investors have freedom because they invest with their own money and they decide everything about the investment they make. In this thread we only discuss ideas that are better applied in long-term investment, of course there is no coercion because everything is just an idea which can be judged by yourself whether it is important or not to learn. In fact, I think learning about what we don't know yet is the best way to approach bitcoin investment. An interesting idea from senior investors who invested in bitcoin earlier will be a valuable experience if they are willing to explain the direction of their success in holding bitcoin.

Bitcoin is the most valuable asset and I agree with your idea that bitcoin is worth holding onto until we are old.

You are right sir, many countries used to attack Bitcoin with their bad assumptions. But so far those countries are quite behind compared to the development or journey of bitcoin which has been going on for 16 years until now. Bitcoin is superior to other assets and it has even been proven in the real world.

I don't call using your bitcoin investment as collateral when you are short of funds in a lending platform because it is wrong and you are gambling with your bitcoin investment and that is not smartness but a dumb thing to do.

I don't understand why any investor will acquire enough Bitcoin to the point of getting broke and use his bitcoin investment for collateral, it means that investor didn't plan his bitcoin investment journey properly and he doesn't have an emergency funds to take care of real emergency when it comes. This is the problem alot of newbies are facing, they forget that bitcoin investment is for long term and one needs to use only part of his discretionary income to invest in bitcoin for a long-term so that he can buy regularly and hodli for a long time time without selling part of his bitcoin when it is not of his own will.

It is better for a new investor to have his emergency funds and reserve funds for any emergency that will occur during his bitcoin journey because they are back up funds to our bitcoin investment if we want to be successful in the long run. If you use bitcoin as collateral for a loan, you are to pay for the interest and that will make you sell your bitcoin when you cannot pay up the loan. It is not to invest in bitcoin but to invest wisely with proper plan which will enable you grow, build  hodli your bitcoin stash to your target without selling or using it as collateral.

Don't keep your bitcoin with third party and if you use it as collateral anything can happen to your bitcoin anytime and you will run at big loss. What if the platform pull an exit scam.

Bitcoin has been proven to be the only asset that is resistant to inflation even though its price fluctuates, this makes Bitcoin validated as the best safe haven, as far as I have heard, smart investors will only make Bitcoin their main investment, and when they need money, they will use the Bitcoin they have as collateral in a lending platform, they are very smart because they realize that there are only 21 million Bitcoins and the amount cannot be increased or decreased.

You seem to be talking about trading rather than sustainable withdrawal.. So I was suggesting that once a large enough stash is established then 10% per year could be withdrawn in perpetuity as long as the BTC spot price is staying at least 25% above the 200-WMA and the 200-WMA is being used as the valuation of the BTC stash based on bottom prices rather than based on top prices.  Perhaps my discussion of this is too complicated for my to be stating it and members seem to be misinterpreting what I am saying.


I surely am suggesting to attempt to reach a state of over-accumulation before beginning a time-based sustainable withdraw approach.


That sounds correct, and it makes a difference if a person has other income sources too. So if he has other income sources, he would probably use those first and then perhaps use BTC withdrawals as a means to supplement his income.  And, if his ONLY income source is bitcoin, then he surely should be careful to make sure that his quantity of BTC is sufficient in order to begin to start to spend from his stash, especially in a systematic time-based way that involves reduce his BTC stash by amounts of up to 10% per year.


In spite of ongoing attacks on bitcoin, it continues to outperform other asset classes, and surely there can be worries about the attacks and for any of us to be able to continue to be able to cash out bitcoin or to otherwise be able to spend our bitcoin, so it can be confusing regarding how to invest into bitcoin and whether to hold the BTC directly and then how to continue to ensure the existence of onramps and offramps, even while surely it would be even greater if there are more and more ways to directly transact with other bitcoiners.