Topic: Buy the DIP, and HODL! - page 164. (Read 142622 times)

Your explanation does not help.  If we are talking about bitcoin in this thread, then there is no need to use the word "crypto" unless you clarify what you mean by it, which you did not and there probably was no help for you to use the term unless you wanted to say bitcoin and shitcoins, then you could have had said that... and there is no need for us to harp on this point, since many of us, not just me, don't like vague references to shitcoins that don't clarify where bitcoin is within that reference.


I stated in my post that I was not even necessarily wanting to refer to your level of knowledge about bitcoin, even though I mentioned that people have been in bitcoin several years and even investing into bitcoin during that time, and they still do not understand bitcoin, so I find it a bit presumptuous to conclude that the general population is becoming materially more informed about bitcoin, even if more people might have heard the word bitcoin, bitcoin's growth still is taking time to build, even if we might start to presume that more than 1% of the world's population has taken some kind of a stake in bitcoin... which I think that we would be pressing matters to assert that even 1% of the world has bought a significant stake in bitcoin.


Are you trying to say that adoption of bitcoin is higher than 1%?  or the adoption has the potential to go higher than 1%?

I have a hard time appreciating ideas that that bitcoin is very popular but governments are keeping people from buying it.  I do understand that there are a lot of restrictions on bitcoin in a lot of areas in the world, yet if people know about bitcoin and they want to buy it, then why don't they find a way to buy it in spite of various obstacles that might be in front of them? 

Maybe we can agree to disagree about the "what if" regulations were easier questions, since I am more inclined to be searching for the "what is" rather than what "ought to be" kinds of questions, and yes government restrictions is a "what is" kind of a question, but if you are suggesting that the ONLY thing holding a lot of people back from buying bitcoin is governments, then I am thinking that you are speculating too much about what is causing bitcoin adoption to ONLY still remain in around the 1% of adoption territory.

By the way, I would agree that some of the ETF buying up of bitcoin and various third party holding of bitcoin is potentially an attack on bitcoin and it does not necessarily help poor people to acquire bitcoin, even though rich folks in the west are acquiring bitcoin for speculative purposes (price exposure) rather than holding bitcoin and/or using bitcoin directly, so surely we are going to continue to have battles with self custody in which individuals still have to figure out ways to both get bitcoin and to get the bitcoin in their own privately held wallets.. rug pulls are going to continue and each of us are going to continue to have to figure out ways to protect ourselves in order to not be vulnerable to rug pulls or other ways that our bitcoin might get taken from us whether it is exchanges or governments or even our own failure/refusal to learn how to secure our own coins and to keep them private too.

Sure I can agree with you that bitcoin adoption should be higher, but I would rather stick with looking and attempting to analyze the "what is" rather than fantasizing about "what could be" including your presumption that people sufficiently know what bitcoin is and that the people are in love with bitcoin, but they just haven't gotten around to buying it in higher quantities because there are too many governmental obstacles in their way.


Again, I doubt that we really need to harp on shitcoins unless maybe we might be saying that some folks get into bitcoin through shitcoins, which could be possible, but the main question of this thread is bitcoin, and yeah, it is already known that a lot of people have to secretly buy bitcoin and that there might not be official onramps and offramps in a lot of geographical locations, so there is a bit of need for people to figure out how to get bitcoin even when they have various obstacles in terms of their sourcing of bitcoin.

Hey JJG I assumed you understand this correctly and if anyone of us here mentioned crypto it doesn't mean that the user is directly classifying bitcoin to be crypto and of course i know that cryptocurrency are other coins created after bitcoin have been created and they are all under bitcoin, cryptocurrency which includes shitcoin and memecoin and some other coin. And yes I don't need to further expand myself or brain putting up here to please anyone here to general understand the difference between cryptocurrency and bitcoin, generally people outside this forum classified as cryptocurrency even when i tried to involved myself with blind argument to some people who doesn't really understood the language of bitcoin term to have seen as one but at later end i periodically understand and presumed they don't know what they are to had blinded calls it cryptocurrency and yes i don't have to go further putting it up to them rather had to used the language to would all understand even though i might be trying to sound so professional and yet i had to narrow myself down to mirror out with their point is that to strict and being to aggressive on them due to lack of understanding and knowledge.

Again being here for about 2-3 years isn't a totally waste after much knowledge gain from you and some other respected poster and users here and when communicating I should understand I practically using a general knowledge which everyone one both bitcoin oriented and none would be able to comprehend and understand how the language is going. Where do I have to say that my staying here over year I wouldn't had understood the different between cryptocurrency and bitcoin that indirectly brought my soiled my overall knowledge meaning that what you had all put here i am not taking note.

Well, we might see and think bitcoin is that popular but surprisingly it's being mentioned nearly in most of the songs within our local artist and little children knows that bitcoin is digital money, the only holding the wild spread of bitcoin is just government, if by any authority or chance that bitcoin is being legalized sir, you would be amazed what you would see as turn up in bitcoin adoption but guess what? There are lot of people who secretly acquiring dozens of it into their secret wallet which you and I doesn't know except for those people which we think  has bought thousands of it, then we wait for pronouncement to the speed which would impressed regard bitcoin and other supported coins knowns to be cryptocurrency.

First, we are not talking about cryptocurrencies (or shitcoins in this thread), so it is a bit unclear why you chose to mention cryptocurrencies or perhaps convoluting the idea and thinking that bitcoin is the same thing?

Second, let me presume that you were meaning to talk about bitcoin and not shitcoins.. ... so in that regard, your suggestion that everyone in the world sufficiently knows bitcoin, that is a bunch of bullshit, and a wrong premise in order to consider where bitcoin is at right now, where it came from and where it might be going.  If many people in the world had any clue about what bitcoin is, then we would have way higher than 1% world adoption.  I will agree with you that a lot of people heard the word bitcoin, and there are not too many people who can accurately describe what it is, including convoluting the category (just like you did) and suggesting that bitcoin is part of a category called crypto... so even people who presumptively have been studying bitcoin for a few years and potentially investing into it still don't know what it is beyond that it includes number go up technology.

Sure, maybe you know what bitcoin is, so I would not want to make my response about your knowledge level, since your use of crypto might have been an innocent and/or potentially meaningful oversight/inclusion...

So many people presume higher levels of world knowledge and/or perhaps bitcoin adoption based on some small segments of the population having had accumulated decently large amounts of bitcoin and even some financialization of bitcoin, and increasingly rich, famous and even widely respected financial people saying good things about bitcoin and even investing into it...

There are errors in presuming too much into the population's knowledge of bitcoin, especially if that supposed knowledge is not backed up by their having a significant/meaningful stake in bitcoin, which truly the overwhelming majority of the world's population, whether we are referring to individuals, institutions, and/or governments are quite underinvested in bitcoin... low coiners or no coiners which likely still amounts to 1% of the population at best  - including referring to institutions and/or governments.

Are you mislead by BlackRock accumulating more than $20 Billion in bitcoin on behalf of it's clients?  Surely there are some early buyers into the ETFs (kind of like insiders), yet I have my doubts about that investment of money into ETF shares reflects either high level and widespread adoption of bitcoin or even that knowledge is spreading into the world's population regarding what bitcoin is beyond very small segments of the population of individuals, institutions and/or governments. 

Yes, knowledge and awareness of bitcoin is growing and growing, yet I am not going to presume that very many people actually know what bitcoin is, especially since so few have taken any actions to get off of zero or otherwise to substantially invest into it, which such buying and getting involved actions would lead some credence to their actually knowing what bitcoin is.

Bitcoin has passed the stage of becoming afraid of what could happened at the cost of your investment and of course before anyone out there goes into investment we can say that they have read and understand the regulation and the implications that involves while making investment, and gain cryptocurrency is no longer a new thing to world and if if not mistakenly now bitcoin has been in existence for about 15-16 years now if am not mistakenly and almost about every part of the world has heard about bitcoin and understand the risk and volatility that it carries.

That is why most people took the risk and invest and during investment they don't involved themselves with a compulsion investment it's just that when they are ready to accept the risk index then you would see them venture into buying bitcoin..

And of course those who understood the language of bitcoin never waits to routed and sink into the knowledge, the thing is just for them not to be left out of regret that is why most people do not hesitant to buy and hold, along the line the study and gain knowledge to hold more stronger and most of them even involved in doing DCA just the above discussion is saying.

You are absolutely right, there is no fine or punishment place for anyone who invested his money in Bitcoin and vice versa, investment is something we shouldn't force people to do rather it has to be a willingness of heart or mind and I think most of the people who end up doing bad or not doing well in their investment is because they are not willing or ready to do it. Permit me to say this, we all know Bitcoin has stayed for years and has shown us proved that it existence is going to be long but we can't tell how long it's going to be so for this reason Bitcoin investment is not 100 percentage guarantee I mean anything can be possible but since we have made up our mind to invest all we need do is to be positive and hope for better future with Bitcoin investment. No matter how one trust a particular project, It will be very unwise for someone or an investor to use all his money to invest in a project. Don't get me wrong, I'm saying this because I don't want anyone to have a wrong mindset or thought about Bitcoin investment that's why we are advise to use what we can afford to let go.

If you are a long term investor in bitcoin, then most likely you are not spending 4-10 years or longer to accumulate bitcoin in order to just get out of it right away, so there may well become a stage of your investment journey where you are no longer really accumulating as much or you might go into a stage that you are completely not accumulating BTC anymore or injecting any new capital into bitcoin. 

Many times, the lines are not going to be exactly clear because even in your early to mid to late stages of BTC accumulation, you might change the way that you accumulate, and surely many of us recognize and appreciate that there is a lot of value in a more strict DCA approach to BTC accumulation in the earliest of stages of the bitcoin accumulation journey, yet if someone is able to front load his investment and/or even employ some lump sum investments into bitcoin in the beginning, then he would likely have more liberties to modify his BTC accumulation approach away from DCAing.

the same is true with the maintenance stage.  Earlier stages of the maintainance stage might still involve BTC accumulation from time to time, but it also could include holding without any buying or selling at all or it could evolve into something that has some selling or even both buying and selling with a purpose of mostly maintaining the BTC stash.. but there could be a purpose of maintaining that allows for continued growth of the BTC stash or a maintenance approach that attempts to keep the BTC quantity largely at the same quantity or there could be a mostly maintenance approach that allows for gradual decline of the quantity of BTC over time (yet still having a gradual decline in BTC quantity but an overall increase in the dollar value).. so there can be quite a few variations of how someone goes about BTC maintenance in part depending on his own levels of BTC accumulation in light of his own individual factors but also in light of the extent to which he may have overaccumulated... which truly the more that he perceives himself in an overaccumulation status the more able he is to sell within the overaccumulated portion of his stash without feeling any financial or psychological burdens within such selling choices...

So, for example a guy who had a goal to accumulate something like $2 million valuation of BTC using the 200-WMA, which would be around 52 BTC at today's 200-WMA valuations, yet perhaps he had accumulated 60 or more BTC, so he may well consider the 8 extra BTC to be overaccumulation, so he might establish some kind of a plan to spend the extra 8 BTC over the next 5-8 years, so he might decide to spend right around 0.13 BTC per month for the next 60-96 months, so he sees that 0.13 BTC is currently valued at $8,500 spot price, and so in order to attempt to make his withdrawal more stable (and sustainable), he might decide to just withdraw right around $6k per month until he uses up all or most of the extra 8 BTC, and surely he can reconsider his plan along the way, but the fact that he concluded that he has an extra 8 BTC, he has more liberties than if he were still within his BTC accumulation stage... or if he had not concluded that he had overaccumulated.  So there can be a certain freedom in reaching a status of overaccumulation and then creating some kind of a maintenance (or even sustainable  withdrawal) plan based on such assessed overaccumulation status.

Yet being within a maintenance status does not presume overaccumulation, since a guy could consider himself to be in a kind of maintenance state and he is close or near to sufficient BTC, but he is still wanting to spend some time accumulating some BTC, but he is not really pressured in regards to his quantity of BTC since he is close to having enough, and he figures that even if he does not accumulate more BTC, within 1-4 years he will have more than enough even with the amount of BTC that he has, yet at the same time, he might want to still continue to accumulate, even if he has assessed that he is in a current BTC accumulation status that is close to enough BTC.


Your points are mostly valid Zaguru12, yet I am pretty sure that most exchanges that offer automated DCA are attempting to not move the prices on the order books with the daily automated DCAs that are getting executed on their exchange, yet we cannot really know with any level of confidence since the information is not transparent and maybe we would not want the information to be transparent even though we would want the exchange to be honest in the way that they are executing the daily automated buy orders.

Regarding your point of manually setting limited buy orders, that is how I used to do it when I was first in my earliest BTC accumulation stages.  

I would have an authorized amount of BTC to buy every week. .. .let's say $100, and so then I would set some limited buy orders at various prices below the current price, and then if by the end of the week all of the buy orders had not executed, then I would manually buy whatever remained on the various buy orders and then set another $100 for the next week... so there was attempts to buy the dip within the week, but if the price did not dip, I would just buy at whatever price came at the end of the week.. and I even sometimes changed which day (or what time of the week I would do my resolution of each week.

Sometimes my resolution/finalization of my weekly DCA allowance might have been on Saturdays and other times on Tuesdays and sometimes it was during the day and other times it was in the night depending on what I had established (or authorized) for myself for the week, and surely some folks might claim that there might not have had been any advantage to my system of buying and a more strict DCA approach would have had been better and less work, which surely it is difficult to prove either way, since I speculate that I was getting what I wanted out of the deal, I was engaging with bitcoin every week and I was mostly buying bitcoin every week within my own authorization levels too (that I was free to change at any time that I wanted), even though my buy orders sometimes executed during dips within the week, or I ended up just buying BTC at whatever the price was at the time that I had established to resolve/finalize my week buys (authorized DCA amounts).

Automated DCA! This is something that has crossed my mind for some reasons but believe me it will definitely not still be near perfect as that of a manual DCA done. First off I think there will be discrepancies on the time that the orders will be triggered or rather will have all those using the automated method orders triggers at same time. Like a daily set up will trigger just immediately after the day goes off. Each investor will have his preference as to when they wish to have set trigger, for example some incoming fundamentals will require one to go in early or join the late trade but automatic set will definitely just trigger when the exchange time comes without taking advantage of this fundamentals.

The manual method still remains the best, just that you will need to be available when you wish to take the trade but yet a limit order can still be placed for certain market price and it will trigger this only just depends on price and not time again like how the automated will be. The awareness or ability to place the order yourself to me is even a key to how you manage your finances or how you pay attention to them.

I haven’t tried this but with your information of binance offering it triggers me to have a glimpse of it, I will have to give it a try and compare with my manual purchase

Yeah, you are very Learned and I love the way explain things in other to make it more clear to people.
You mentioned something about maintenance strategy and I will like to know more about it, please if you don't mind.

Binance has lost a lot of its banking relations, yet if the exchange has a banking relationship with your bank, then you would ONLY have to make sure that you have a sufficient amount of money in your linked bank account, since the DCA would come from that linked bank account... but yeah, otherwise you would be correct that you would have to have enough of the asset/currency that you are trading from to the asset that you are trading to (presumably bitcoin) in order for the automatic DCA to execute within your requested parameters.

In my opinion, if you apply DCA through the exchange, of course you can set the time for each stage of the purchase. But so far I have been more practical by doing it manually or with my planning without going through the exchange. So there is no significant difference between doing it manually or through the exchange, especially for now, don't trust the third party for your assets, so I prefer to do it manually where I buy on the exchange and withdraw to a personal wallet.

Well, one more thing, it seems that if you are interested in automatic DCA, you must first deposit money into the exchange and at the purchase maturity, your balance will be automatically deducted. That's a little bit of what I know and if you want to dig up more information, you can read the rules imposed by the exchange where you want to do automatic DCA.
Apart from that, it all comes back to the comfort of the investment you are making because if so far you are more comfortable with manual DCA, then just continue.

I am pretty sure that most major exchanges have such an option to employ some kind of an automatic DCA.  Below is a screen shot from BinanceUS's description of various automatic buy options... From the drop down menu, you can choose to buy one time (which is not automatic, it is right away) or you can set up automatic buy parameters within one of the four options that are available through their system.



It is likely that Binance (not BinanceUS) has some similar options, and some of the exchanges will allow the client to customize their automatic DCA more than others, yet I still have not found an exchange or service that allows the customer to select the hour of the day that his automatic buy is executed, so that is part of my objection to all of the automated DCAs getting executed around the same time or maybe just the lack of transparency regarding when they are actually executed.. but you can see that Binance's automatic DCA is pretty strict (or limited) in terms of when/how you can employ automatic DCA, which is daily or the various other increments that they show which amount to Binance's likely executing the DCAs in somewhat non-transparent ways on about a daily basis for their varying customers with differing automatic DCA preferences...and surely some people don't really care about those kinds of details that might ONLY end up affecting their buy orders by a percentage point or even less.. which is part of the reason that I would just prefer to manually execute my own, in the times  that I am inclined to do it... but for some folks it is surely not any big deal as long as they get their buys in at the period that they had specified the exchange to execute their automated DCA buy orders.


For sure, if you build a strong foundation, or start out with good basics, then there tend to be a lot of things that we can learn along the way in regards to how we employ our practices and perhaps some other options that might be available, and surely we also know that some information is better than others, so some folks get caught up in some areas of learning that might not be so helpful, yet still we sometimes need to explore and experiment in order for our learning to become more concrete (or for our learning to make more sense in terms of our own understanding and/or our abilities to share with others).

I have found that some of my participation in the forum has helped me to explain more clearly some of my ideas to real life people, yet still even if we are talking with real life people, there are going to be things that the bring up that we might not know how to respond or we might not know enough, so those kinds of interactions can sometimes stimulate us into doing more research, to the extent that we even have time to engage in such research (of if doing the research is worth it).

Thanks for the clarification sir JayJuanGee and the correction also . We literally learn each day , well I think I will continue with my manual DCAing for now , but I will still like to know more about the automatic DCAing and how it works, so that I can also teach it to others . Because in this space if one want to improve themselves he or she have to learn each day . And especially when it comes to bitcoin is always fun to learn things related to it .

Well I'm going to also do my own research concerning automatic DCAing, to get a clearer picture and to understand it more better once again thanks for the brief explanation concerning it .

I disagree with you mate and you have a very wrong conception of the DCA strategy and it can be very misleading, the DCA strategy allows investors to make purchases of Bitcoin irrespective of the market conditions, you buy Bitcoin wether in declining or not, purchase are made on different intervals either weekly or monthly based on your income flow as much comfortable you can be. The DCA strategy has nothing to do with waiting or timing the market conditions, you buy Bitcoin any time so far your money is readily available for investment.

 Investors use the DCA technique in a declining market situation and this is a very common technique used by every investor, they certainly save in a declining situation and continue to buy and choose to survive and wait for the right time and their strong predictions of the success they will get later.

Even though we are mostly talking about investing in this thread rather than trading, the two of you don't seem to be saying anything much different when it comes to adapting along the way in terms of various investment practices, so in regards to BTC accumulation there would be strategies regarding DCA, lump sum and/or buying the dip that might be considered.  Of course, there are cashflow management practices regarding understanding the investment from discretionary income and having an awareness and practice of back up funds too.

In essence, the longer that we might be investing into bitcoin, the more that we should be able to hone our bitcoin accumulation strategy and then perhaps later our bitcoin maintenance strategy to our own particular circumstances as our circumstances inevitably should be changing along the way.  I would think that many times our changes in our practices would only be to tweak here and there along the way, yet sometimes we might have to make larger kinds of changes to whatever we are doing. 

We could look at any of our 9 particular individual circumstances and recognize that they are always changing, but maybe our BTC accumulation strategy does not change every time that we have some kind of a small change in the 9 factors unless we might consider some kind of tweak might need to occur or maybe a more major revision needs to be employed if several of the factors might change at any given time.

That's really scary especially if you put all your money in bitcoin and nothing left in your position. Since every dip would provably give you stress, so to avoid experiencing this scenario much really better to spend some amount which is aligned with your budget and also make sure to have emergency funds since this  could really save us for any unwanted or unexpected scenario that will happen in our investment. There are times that everything is not smooth as we expect that's why its good to have funds that we can use so if everything is really in bad shape we can recover since we are prepare for this scenario to happen.

Lots of people really hook up with bitcoins potential but they should not be greedy and put everything they have. But rather much better for them to increase up their knowledge and make sure that they are always updated with current news about bitcoin since this is really helpful for their investment on bitcoin.

What you said is quite true because some people who want to invest in Bitcoin for the long term are still not aware that they also have to have a reserve fund in their lives so as not to interfere with the amount of investment that already exists in the form of Bitcoin. I hope everyone can understand this so that they can continue to be enthusiastic in buying Bitcoin and investing it in the long term without remembering to sell in the near future for any reason. Because we can all see that there are many investors who have felt happy after holding Bitcoin for a long time without being affected by the burdens of their own lives.

The only thing that can make someone go into different strategy is when they have multiple sources of income because we cannot suggest for someone who is barely managing to sticked on there DCA accumulation to consider adding more other strategies into there investment patterns because they would be over pressed with the load of maintaining those strategies, though having or adding more strategies is not wrong if you are financially capable but for those who are less privileged should continue with DCA instead of thinking about how they can get more Bitcoin when they don't have the financial strength.

The 🇸🇻 Salvadoran government has been buying 1 #Bitcoin per day since March 16, accumulating 160 BTC (💵 $10.31M).
Source Link
They now hold 5,850 BTC ($355.83M) with an average cost of $44,835 and a profit of $93.45M 👀🙌

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El Salvador is the most attractive to Bitcoin because they are constantly buying Bitcoins. Because since 2021, they have started buying bitcoin from the price of 69 thousand dollar bitcoin, and have been steadfast in buying bitcoin until now. They ended up buying $60k worth of bitcoins, and their average bitcoin purchase came to $44,835. But this is the biggest proof of the benefits of investing in bitcoins following the DCA method. Because if you follow the method regularly then surely you will be impressed by the success of the country of El Salvador.
Here: https://bitcointalksearch.org/topic/m.64458220

Of course you can see here how to succeed in DCA method you can get education only from the President of El Salvador Nayib Bukele and this is the biggest proof. Maybe because he has more money he holds more and more bitcoins in DCA method, but because we have less money we will hold small amount in regular DCA method so of course we will have average price control on buying bitcoins. This is our single greatest strategy to hold bitcoins in a simple way and proven from here.

For a brand new investor that wants to start his bitcoin journey and hodli for long, DCA is the best for him because it is a consistent buying approach which you buy every week with part of your discretionary income to enable you keep building and growing your bitcoin portfolio without stopping because you are piling it up. The newbie will regret it only if he is not consistent with it, also if the new investor gets extra cash that he never planned for like bonus from work or cash as birthday gift, he can lump sum immediately to help increase his bitcoin portfolio.

There are stages in your bitcoin accumulation journey that you need to tweak from one strategy to the other and no just depending only on one strategy. For instance, investors that have accumulated a good size of bitcoin but have not reached their bitcoin target can wait for the dip to buy bitcoin at discount so that he will add a significant amount of bitcoin to his portfolio and might not DCA anymore.