Topic: Buy the DIP, and HODL! - page 173. (Read 133827 times)

Learning by books will not give you full learnings since you need to experience those technicalities what bitcoin could possibly show up to you. That's why its important also to learn thru experience since this will make you became more better investor.

Market is unpredictable and we should know how to deal with the situation, since it could help us do good decision  especially if we are facing uncertain things on the market. Its common for bitcoin to have pumps and dumps that's why its good for people to have experience in this situation so that by next time that scenario occur it cannot affect their decision to accumulate and also continue to hold. So use all things that can help on your investments since this is more better for people to learn a lot of things on bitcoin, since this make them became more better or knowledgeable investor.

Yes, knowledge is really very important in every aspect of life, especially in business or investment, so we can be guided in the right direction. There are some people who are not part of the cryptocurrency industry because they were scammed by scammers or sold their Bitcoin investments at the wrong time, all due to a lack of proper knowledge.

Investing in Bitcoin is not really hard when someone is genuinely interested. All they need to know at the start is the difference between non-custodial and custodial wallets, and the best exchanges to buy Bitcoin. After buying, they should move it to the right wallet, which is a non-custodial wallet, for proper security. Once someone has this knowledge, they can start investing in Bitcoin. It doesn't require a lot of experience to begin a Bitcoin investment.

When they start investing with they little knowledge they first gathered they will continue learning. Infact start after investing, the desire to protect their funds will make them more serious about learning about Bitcoin and others cryptocurrency. Nobody likes to lose their invested Bitcoin.

  well that's why sir JayJuanGee keep saying that don't over do it , most of us here can't actually afford one bitcoin ones that's why we went into DCA , which also gave us the advantage of buying at different price interval as bonus. So there's no need for you thinking of things like stealing from ones wallet or kidnapping yourself which kinda sounds funny lol. Just accumulate with the amount you can afford that won't affect your normal daily activities, like some discretionary income.

Our main focus is how to buy or accumulate and hodl more Bitcoin in our portfolio. Because being in this space and not having any stashes of bitcoin ain't smart, especially for those that prefer buying some joke coins instead of buying bitcoin, which is the king of digital currencies, that always keep to its standard, with its nice potential of growth .

Most newbies don’t really have proper knowledge about bitcoin before they jump into it which is very wrong, that’s why they mostly lose, and some scammers brainwash them because  they can easily  be scammed. We shouldn’t be in a rush to invest in bitcoin, we should rather be in a rush to accumulate more knowledge, because if you are in a rush to invest, then you might end up losing at the end, which is equal to not investing at all, because what’s the point of investing if you still end up losing your investment?
 
Anyone investing in bitcoin should make sure they keep on learning on a daily basis, because the more you go on research, the more you learn new things. So anyone investing in bitcoin shouldn’t get tired of learning, reading is supposed to be part of us.

On the list, learning is very much important other than having the experience, at some disadvantageous situation one should prefer not experiencing something but instead learn from other people experience. Same way I would advise anyone entering into Bitcoin to  first ascertain the basic knowledge that will enable him to maximize and secure his investment instead of ignorantly investing funds into Bitcoin and lose funds due to lack of certain knowledge.

You are making lot of sense in what you are saying, the reason we go to school is just beyond learning. In school  you have to learn different characters and learn how deal with different people. You have to learn how to handle people of different background, religion and ethnics. No matter how people tends to learn from books and mobile phones it will never be the same with the one you have an instructor who is guiding you and giving periodic assessment to know the progress you are making. Yes through your phones, you can have  zoom lectures I quite understand that. But it's never the same thing when someone is just reading books online and reading from mobile phones. In physical classes there are things that lectures will share with you from their personal experiences that you can't find in a phone or books.

Short term plans and profit are basically for traders and if we’re talking about bitcoin knowledge we should remember that newbies accumulate and learn during the process. What’s wrong if newbies buy and learn at same time,  in that way it’s beneficial because no one can actually predict bitcoin price or try to foresee with previous market price. That statement above talking about lack of experience about bitcoin market is actually not true, anyone can start their bitcoin journey with zero market experience and still make progress as I believe studying the market are meant for traders. newbies are here to learn including me personally, definitely buy and hold is the target and  part of the learning process, if anyone should ask how does tracking bitcoin market works it’s obvious traders can give details not investors that’s why investors mostly newly investors are advised to avoid tracking the market, if I should ask no newly investor has ever mentioned of getting to a satisfied portfolio talk less of selling so there’s no point talking about experience in terms of tracking the market.

First of all let's focus on bitcoin investment and not trading because that is the opposite of investing.

If a new person wants to start his bitcoin journey he only needs to know about the basic knowledge of bitcoin which his how he can buy bitcoin and hodli for long term with an amount that he can afford to lose. If he has understood these, he can start his bitcoin investment right away without knowing much because it is better that he learn about bitcoin investment by buying and hodli because that will give him a better knowledge about bitcoin and how he will be able to tweak to some strategies of accumulating bitcoin based on his financial situation at that moment and the scenario playing around him.

If you only learn the theory first and you did not invest immediately, you will not understand a lot of things which are how to control your emotions and to be committed to investing consistently and persistent due to discipline and sacrifice. Learning and investing at the same time is the best for a new investor. If you are new to bitcoin, you will also be able to know the amount that you will use to buy bitcoin from your discretionary income so that it will not affect your monthly expenses in order for you not to sell your bitcoin before time.

Building an emergency funds along side with your bitcoin investment simultaneously is also all what you will learn and know on your own if you get started immediately after knowing the basics because nobody will teach you that when you want to invest because our discretionary income is not the same. Investing in bitcoin is better learnt by experience.

Gaining experience about bitcoin investment and learning about bitcoin is a two different things in my opinion. Learning comes before experience. You have to learn about bitcoin before start off in it either through investment or trading to get an experience of it through those use. You gain experience about anything order than bitcoin by participation in activity of it. Experience is gotten from the practicing of that which we have learned.  

Teachers  teaching in an institution don't teach out of experience but out of what they have learned and understood.

No one can predict the price of bitcoin and that is why it is risky for a newbie investor to think he can start his bitcoin investment by timing the dip. It is the same reason why traders are run at loss because nobody can know the next price movement of bitcoin. Assuming it is possible nobody will want to hodli but they will prefer to sell and buy back to increase their bitcoin portfolio. This is why investing with DCA as a new investor or low coiner and hodli for long is the best because you don't bother about the market but think more on how to stay focus on accumulating your bitcoin regularly overtime.

It all depends on how you have prepared for your buying orders during the dip or pump. Those whose portfolio is already in a decent size might not care about DCAing when the price of bitcoin is pumping because they will only be able to buy very little quantity due to high price and that might not have any effective value on their portfolio. So such investors only prepare to buy bitcoin at the dip in order to buy large quantities at a cheaper price.

If we want to get education through mobile phone or read books then why do we go to school. You cannot become a scholar by reading yourself. In school we go to expand our knowledge. We can learn a lot more in school than what we can learn from outside. There are many things which are unknown to us and we can learn about those things through school teachers. In other words, there is a lot of need for practical learning in all fields. We will have complete knowledge about investment when we will invest to get a practical application. Investing yourself creates your own idea about that investment and from that idea you can advise others.

That is the truth. It is not possible for anyone to predict Bitcoin's price. There are some set of people who are always trying to predict the price of Bitcoin, but the truth is that they are just guessing the price of Bitcoin is due to various things happening around the world, such as inflation or fighting Between two countries. However, they are always getting it wrong many times. Bitcoin is not controlled by anyone, so I wonder how someone can just predict the direction of Bitcoin. Bitcoin's value is a decision of many people, as people are buying, others are selling. The truth is that nobody can accurately predict how many people will buying Bitcoin in a particular month or year and applicable to selling so to know whether the price is going down or up.

So, the best thing for someone who wants to invest in Bitcoin is to not always wait for a dip because it can make them miss the opportunity to invest at the right time. Instead of waiting for a dip, people should consider using the strategy of Dollar Cost Averaging (DCA), by buying a fixed amount of Bitcoin weekly or monthly. I believe that method will provide the opportunity to buy at different prices instead of continually waiting for the market to dip.

As much as this kind of statement holds ground theoretically and goes to explain the need to believe in whatever asset one is investing into,  we can't be too certain on what will become of Bitcoin if the Bitcoin market shuts down for a period of 10 years. And even when we consider another asset, it's not all that easy to keep HODling an asset after 10 years of its value shutting down except you're left with no option than to keep HODling since you've invested too much already.

The idea of HODling is from a standpoint of giving yourself enough time that allows you to accumulate a lot of Bitcoin and so I wouldn't totally agree with this quote that tend to suggest that the yardstick for measuring which asset you're investing into or how long you're HODling your asset is based on your mere long term believe in the asset. Primarily, everyone that's investing in Bitcoin already believes that Bitcoin is the best digital asset to HODL and that's the reason why we keep buying both at the bears and even during the bull using the DCA methord and by consistently doing it for a number of years upto the point when we've reached our goal, it's not just because we want to HODL for a very long time as though it's how long we have HODLed our Bitcoin that guarantees the profitability of our investment, it's just that buy continuous DCA with respect to time, we are placed at a better position where we have a large amount of Bitcoin which determines the profitability of our Bitcoin investments.

So in summary, it's not about how long you've HODL but how well you utilized those period and how much Bitcoin you're able to buy within such space of time. Some of the long term HODLers only buys an initial Bitcoin or ceased it from a source and might succeed in holding it for 10 to 20 years, you can't compare the rate of profitability of such holders to how profitable another person that DCA consistently for 4 to 8 years considering that the amount of Bitcoin the latter must have bought would be more than what the initial person has held unto.

Before the start of the year I plan out how much I would like to invest in BTC for DCA. Then I kind of speculate on what the monthly avg cost to buy BTC will be through DCA. This way I can estimate/forecast how much BTC I will accumulate in the year. Its only an estimate, I'm not married to it, ultimately DCA buys will dictate what it turns out to be for said month. As the months roll by in the year I update monthly costs, bought vs speculated. Its a bit of fun to track. If  big stuff changes in the general market I update the speculation it for the remaining months.

Then at the end of the year it helps me to see did I hit the accumulation goal. Every year that I have been on this journey, I have also met or exceeded my accumulation goal, so make it reasonable too. This of course then plays into the next year of planning etc etc.

If people are finding it hard to set an overall accumulation goal one way to look is the block rewards(dont count fees) post halving for next few. Pick one, you have a total and a year date to work towards. Now you can work backwards and figure out how can you do this.

2024 - 3.125 BTC
2028 - 1.5625 BTC
2032 - 0.78125 BTC
2036 - 0.390625 BTC
2040 - 0.1953125 BTC
2044 - 0.09765625 BTC

Surely individuals have other accumulation goals and everyone is different and can pick what they want. The important thing though is have an accumulation goal.

When it comes to investing in Bitcoin we must always gain enough experience about the Bitcoin market before we invest in Bitcoin. Many times it is seen that in the condition of lack of experience in Bitcoin, investing in Bitcoin has to face more losses than clubs. But for those who are new or new to Bitcoin, I must tell them that before investing in Bitcoin, they need to know enough about Bitcoin before investing. Bitcoin we always have to have a long term plan and check the market and then invest. Many times it is seen that we are too hasty to rush back and make wrong decisions due to which we lose the profits that we have invested. If we can bring Bitcoin and invest patiently with a long-term plan, surely we will be able to earn enough profits in Bitcoin that will make us more interested in Bitcoin.

I am laughing very hard at the context of how everything played out, and someone elsewhere is being serious about your playful discussion without another fella, trying to convince you of the way to follow without knowing that you are pretty much kidding.

That said, people can misunderstand other people's words without knowing the true context of the words spoken.

Bitcoin market conditions are predictable but reality can be different so you should stay in regular buying as you will keep stashing into your portfolio whether the price of Bitcoin is bearish or bullish. When its price goes down, the same amount of money accumulates more bitcoins that increase over time, even continuing to accumulate during bullish periods. Accumulating bitcoins for a long time also makes you more experienced in investing so bearish and bullish divergences can become more positive for you than they do for larger investors. DCA naturally becomes easier for you as your stash gets progressively bigger and it becomes easier for you to decide to continue accumulating bitcoin for 10 years or more. Since your portfolio is a decent size you can be aggressive in buying bitcoin during dips. For example, if the price of Bitcoin is going up for 6 months then you continue to accumulate normally and if the price goes down for the next 1 month then you should continue to buy aggressively. By conducting DCA in this process after 10 years you will see a huge stash of Bitcoins in your portfolio which can give you huge profits. So you should increase holdings and go long.

Okay, I'm going to answer this question for me because it's important in my strategy.

-It must be good at money management, otherwise the money will quickly run out by not managing it properly.
-Bitcoin (90% portfolio)
-Will prevent excessive spending, of course with a frugal lifestyle.
-Overall just rely on a fixed salary every month.
-Increase that income only by hunting airdrops and other sources.
-Almost 80% of the income from other sources that I said earlier is invested in bitcoin, the rest is for my own needs.
-Of course, accumulation has never stopped over the past few years, as long as you can still do it, finances can still be obtained from work, accumulation will continue.

That is an obstacle in many people where they sometimes have the desire to buy something that is completely meaningless in the sense that the item becomes not important in your life let alone just to show off to others.
So for needs is important but look back which one is needed that will always be fulfilled.

So with good management, the money put into investment will be more.

Building a solid portfolio in bitcoin requires consistency and commitment. Especially, when you are still in early phase of accumulating. Holding Bitcoin for a long period doesn't require any lapses along our holding journey, taking a break because of dumping and pumping  in the market could be a step backwards, we just have to keep going and stay on the track of accumulation no matter the market circumstances.

Using a DCA strategy that you can invest a regular fixed amount from your income or earnings at your own comfort, why consider going for break when consistency and commitment is required to grow your bitcoin stash. As you invest continuously, research can still be made on how to improve and increase your holdings.  You dont necessarily need a break in regards to dumping and pumping, each of these market moments presents opportunities for investors to capitalise on. If an investor is holding bitcoin for a long term,  we should always see these market situation in a positive direction that when our accumulation has matured it will be beneficial to our investments.

When there is a crash in the market, nobody knows how low it’s going to go, and when there is a pump, nobody knows how high it’s going to go. So what  I do recommend to people ask me similar questions is just make sure you do your analysis before you start accumulating and make use of the DCA strategy.

The problem I have with some people who are always saying they want bitcoin to dump is that, no matter how much bitcoin dumps, they are not going to invest. They will keep on saying they want it to dump more before they are going to invest. Even if bitcoin dumps to $1k, some people are not still going to invest, they will keep on waiting for it to dump more until the price bounces back, and they will start regretting why they didn’t invest when the price drops.

I don’t know how you felt after your first investment in bitcoin. But I expect any newbie to panic when they want to invest in bitcoin, and after investing, and the market dumps. Any newbie that comes here and claims they don’t panic even when the market is dumping after they have invested in a coin is just deceiving himself. It’s normal for all newbies to panic, even if their intention is to hold for the long term.