Topic: Buy the DIP, and HODL! - page 179. (Read 109208 times)

I just have a small point that today bitcoin price is around $70k and if we are comparing last 7 years DCA till today then it looks good. But few months back price of Bitcoin was under $20k and at that spot thing might not look as ideal as they are today.
There is consent that some investment is better then zero investment. If I talk about myself then if I have been investing into bitcoin since 2017 then I might be in some good position. But since I started investment quite late so I have to wait for a while to see my portfolio in good position.

I will not think I'm wrong judging from your own perspective as stated, you mean it is advisable to first fund into shitcoins as a source to increase one's investment funds before purchasing Bitcoin, I would not support the motion, knowing fully well even on the process of generating more returns through trading, their is higher chance of blowing out the funds during the process, why then should it be considered an option?

Bitcoin investment doesn't necessarily require a large amount of funds to be invested, so taking such risk should be out of the box, DCA approach has been set to strategically make purchases even with as low funds that a person could afford, instead of using that funds to trade shitcoins, one can easily and directly invest in Bitcoin by DCAING.

How can a newbie understand what you are saying? A newbie who is new into bitcoin investment should never be encouraged to trade altcoins and use the profit they generate to buy bitcoin through DCA. This is just like sentencing the person to death. What's the guarantee that they are going to make profit by trading altcoins? Why encouraged people to do something that you know the risk is very high and has every tendency of liquidating someone within hours. I don't support the idea of investing a penny in altcoins, there is no further in it.

Newbies should only focus on bitcoin, and leave shitcoins. Bitcoin is the main priority not a clone of it that, focus more on building a solid portfolio from the early start, buy, accumulate, hold as much bitcoin you can debunking every mindset of short term gain over long term range. As JJG will say accumulate the fuck out of bitcoin within your limit, this isn’t just a coin but a valuable asset one can ever invest in.

Using DCA, setting either weekly or mothly target will help dispense the weight. Trading is risky likewise investing. But holding minimizes your risk exposure, which for me is the proven way one can approach the bitcoin market.
But I won't utterly say anyone shouldn't trade, if you have a solid Trading approach you can trade, but newbies or novice shouldn't. I would suggest if anyone wants to trade he should have a different wallet for it, and shouldn't in anyway trade the bitcoin he is accumulating.

Nevertheless there is need to understand that including shitcoins in your investment plan, trading in the bitcoin market is not sustainable and involves big risks, only focus on what is trusted and build your portfolio, overtime you will be happy you invested in an asset like Bitcoin.
Act within your risk tolerance.

I know one can actually earn through trading , but trading is normally two ways one can either loss or profits And with too much risk attached to it . But one should not let his or her trading urge to affect their Bitcoin accumulation, in trading with just a slight mistake one can endup losing all his profit earn that period or even further lose all his capital in trading . That why I prefer to refer newbies to holding (Bitcoin) , because trading requires more time and skills before one can manage to be successful in it, while hodl once one have the basic knowledge of Bitcoin they can go into holding without more stress, maybe as time goes they would learn how to manage their holdings by having emergency funds and other related stuff. So even though you are trader and all that try as possible to have some stash of Bitcoin in your portfolio. And we advice that one should allocate more percentage of their earning , in accumulating more bitcoin.

Even though shitcoins only exist to divert attention, they have given people the opportunity to own Bitcoin by trading Bitcoin altcoin pairs or stable coins so they can buy Bitcoin. However, Bitcoin has proven to be the best compared to altcoins, so Bitcoin is still someone's main investment target.

They can use shitcoins only for smaller portions or for daily trading while they invest in Bitcoin by accumulating it using DCA. They can use the profits from trading altcoin pair Bitcoin or stablecoins to buy Bitcoin. That is one way to own Bitcoin, and it can also be used to carry out the DCA method.

But we have to remember that using shitcoins has a big risk because we don't know which shitcoins can provide profits, even though we can analyze them one by one. Not many shitcoins are able to survive for a long time while Bitcoin has proven to be able to survive for a long time.

Storing emergency funds in other assets is not a good practice. If the asset you stored in your emergency fund is in a dip and you have an emergency that you need to solve, you cannot access your emergency funds or sell that asset to raise funds that you will use to solve the emergency because you will want to sell it at a low price. This strategy will make it hard to hold bitcoin for the long term because the emergency funds will not be readily available to use.

Investing in shitcoins for short-term or long-term is never an option because shitcoins were only developed to rip people off their hard-earned money. Even though you buy the shitcoin during the presale, you will lose your money because the shitcoin will be listed below the presale price.

If you look for easy way in Bitcoin, you will most likely become lazy and complacent. I'm not against centralized exchanges but the truth is that if newbies become too comfortable with them, they might resort to using them for all their needs including storing their coins there which is risky. Knowing where to buy Bitcoin and how to keep them safely is part of the basic knowledge required to begin the process of building a Bitcoin portfolio and both knowing how to buy from CEX and DEX should be part of the process of getting the basic knowledge. Like I said before, it is dangerous for newbies to get too comfortable with CEX so they don't use them for all their needs, this is the only thing I have to add to this discussion.

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

If you are transferring bitcoin from an exchange to a private wallet, then that is likely to contain both exchange fees and transaction fees.  Frequently exchanges have set fees, but they also might have options for how you can send your coins, too.  Some exchanges gouge more than others in terms of how much they charge - and sure part of the presumption is that they are paying transaction fees when the send to your private wallet.

When you send to yourself or you send to someone else from your private wallet, then some of the private wallets have more features than others in terms of coin control or being able to manually adjust fees.

Regarding how much value to leave on exchanges, each of us has to decide in terms of how frequently we are using the exchange to either buy or sell and also how large or small that we might be willing to have our UTXOs that we have on our private wallet.  In recent times, due to quite a few of our onchain fees that were not coming down, I had frequently suggested $500 to $1,000, when we have choices, so maybe that could be in the ballpark of 500k or more satoshis, and of course, if we transact with someone privately, we may well end up with a lot of BTC transactions and even change that ends up in our UTXO that end up being quite a bit smaller than our preference, and maybe some of our UTXOs might start to seem unspendable or very expensive to spend if we do not attempt to manage our UTXOs so that we do not end up with a whole bunch of small UTXOs at a time that we might feel that we need to use them, but the the onchain fees are high.


Yep.. there are degrees of responsibility within poor people and also in regards to rich people too.

So some are gong to be more responsible with their money, and surely it is harder to build wealth rather than to maintain wealth, but each of them takes skills, so surely any poor people who are in the process of trying to make their situation better are more likely in the process of building the wealth and not so much in maintaining, even though maintaining is a given because it would seem that anyone trying to make progress should be striving to engage in strategies that do not put their building at risk so that they end up going backwards rather than forward... but even something like bitcoin, sometimes it might appear that a person is going backwards or not gaining any ground, even if his bitcoin is growing, but for some periods of time, it might be lessening in value, but the person who knows about what he is investing into will not get shaken by those kinds of short term assessment.

The rich guy might not feel any need to grow his wealth, yet he might be  still trying to maintain his wealth and/or to deplete his wealth at a sustainable rate.. . and surely there are some guys who might not know what they are doing and they are just depleting their wealth and not even trying to maintain it.. in part due to their incompetencies.  Guys who have built their wealth are more likely to know what they are doing, but even luck might be perceived as knowledge because sometims there might be luck involved rather than knowledge.

How do you even do a thorough analysis on some of this shitcoins that are very unpredictable, what kind of methodological research or analysis would you want to take in to cognizance to ascertain the certainty of  some of this shitcoins. Because left alone with me they are not worth investing in, not to even talk of wanting to have the idea of having a long-term investment plan. Most people's have learnt the hard way after investing a lot of into shitcoins with the assurance that it's a project that is worth investing in.  

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.
There is nothing better than Bitcoin for long-term investment and this has been proven other than shitcoins which do not have strong evidence, other than Bitcoin.
And I think this DCA method is good and easy for beginners and also good for those who don't have the ability to buy Bitcoin in large quantities. Because we can buy according to our abilities periodically without forcing circumstances that do not support buying in large quantities, and do it for the long term and Bitcoin will definitely provide good returns for us.

The mindset you're talking about includes having confidence, trust and being discipline to know that long-term view of the market is one of the best approach in the Bitcoin market. The truth is some won't learn, there brain have already been filled  and wired to believe the market is all about profit which is one of the limiting factor that differentiate those who become Rich and those who become Wealthy in the market.

The major problem is lack of discipline and patience, which can't be overstretched,  that's why we see some neglect the idea of building a solid portfolio over gambling of Bitcoin. The truth remains everyone would  benefit and enjoy the dividend of there actions which is certain.
The fun fact is that everyone know the promising future of bitcoin, of which we have seem proven reasons to keep investing in it for generational wealth yet some still gamble, Bitcoin is one of the most valuable asset one can have now, don't let temporal gain blindfold your eyes for what is to come because some will keep regretting all the days because they gave room for satisfaction at an early stage, we learn from history and would be awkward if some members in this forum don't have any results to show for in the nearest future after all this exposure.

The only method that can be achieved is only through YOU, by setting and sticking to your long term plan regardless knowing you are present for business not just gains.

  we should not be too greedy to put all our money's to work just in the name of wanting a massive return in our investment. That we should set Aside some money for emergency funds, which purpose is to coverup some expenses, they may come expectedly or unexpectedly. So that we won't endup dipping our hands into our investment, when we haven't gotten far or hit our accumulation goal. We should have to focus on our accumulating and same time having some cash fir emergency funds in order have some smooth investment ( Bitcoin holding).
not just stress but also get themselves reckt. Bitcoin as kept on proven itself in the past years, to be a worthy to be one of the best investment ( if not the best). Alot of folks that are In this space and don't actually have some Bitcoin stash in their portfolio but instead waste most of their money or percentage in some useless shitcoins are not doing theirselves any good, because you are only putting your funds at big risk when investing on shitcoins . Though Bitcoin also has it risks expecially for those that are only in for short-terms profits, but one focusing on Bitcoin as an longer-term investor with some proper planning as already favoured himself in reducing or minimising the risk in investing in bitcoin.

Yeah I think both the emergency funds and our bitcoin investment compliments each other, our emergency funds helps keep our investment safe and ensure we won't be dipping our hands into it, while our bitcoin investment compliments for the cash that would be sitting idea and not generating any income for us and even losing Value, so as long as we continue to invest and keep on buying bitcoin we don't have to worry much about the cash sitting idle cause if our portfolio does well, we would be getting rich.

Your right anyone that's decides to be too stingy or greedy and doesn't want to build up his emergency funds or reserves to well be able to meet up with his bitcoin investment and later encounters an issue, maybe after 4 years of buying woudl also face the fate of someone that has no emergency funds, cause I believe as we get richer we should also assume that challenges may or may not get thougher but we must always are sure our emergency funds woudl be able to counter any issue that may arise.


This clarifies thigns even more, so we should assign or spend money from our reserves based on priorities of those events, like lests say a young guy that hasn't rented an apartment and is also buying bitcoin and has some extra cash that came in and so after doing all the maths and budgets he is left with up to 1k in his reserves and he had prior plans to buy on a certain dip but as the current situation may be, he is in a more pressing need to rent an apartment than to buy bitcoin, so he should rather reconsider and rent the house then any extra can go for buying the dip.

What I understand from this is that we should make our plans based on necessity of events and our decision shoudl not be too greedy and make us forget that we have other thigns to do and get too carried away with investing in bitcoin, so yeah we can have a life, go on vacations and have a balance in all that we do. Then it would be said that we should invest money that we won't miss, so if investing or buying bitcoin at a time would cost me some of my necessities like paying a bill, it's not worth it and could later lead to me wearing myself.

So in general I shoudl have balance in everything I'm doing and make sure I'm allocating wisely to spending and also buying bitcoin.



I think that the longer that anyone invests, the more and more comfort that he should have about having had built various systems to protect his investment, but surely one of the problems becomes that sometimes people will start to unnecessarily take extra risks with some of their investment and not protecting themselves as much as they should, and surely there can be points in which your holdings are more vulnerable than others, yet sometimes we cannot always know while we are in the middle of the process, and we can ONLY do as much as we are able to do, in terms of making our own best and solid practices to make sure that we are sufficiently protecting our portfolios and perhaps being aggressive without over doing it.. . and sometimes normies (normal people)_ do not always realize when they are either overdoing it or they are too far on the whimpy side or too far on the aggressive side...
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Your right about this a line should be drawn in everything especially knowing when we are messing up and when to correct ourselves, although it's not very easy to know when you are on the wrong and at time we do the wrong thigns thinking we are right and find it hard to take correction, so most people never learn or notice untill it's too late, yeah we must do a lot of reassessment from time to time to make sure we are still on the right part.

@teamsherry kudos for bringing this topic up, really has made Jay to touch some old misconception.

at this point it's not even right to make any comparison between Bitcoin and any shitcoin or altcoin, it's glairing that Bitcoin is on a world of it own and while I won't wish those investing in altcoin a bad journey, it's quiet inappropriate to comparing the level of confidence you have if you're holding your Bitcoin for a long period of time to what's obtainable to investing and holding on to an high performing altcoin like ethirium, matic or BNB. I mean, it will take 200 times of positive upward movement for each of these altcoins before they will ever get close to the current $66k value of Bitcoin and it's not just something that's not debatable or worth making any comparison. Bitcoin stands as the most reliable long termed decentralized currency that's worth investing into.

One of the reasons why we have so many altcoins and shit project coming up at a very fast rate is basically because they want to hide under the wins of Bitcoin and convince users that bitcoin is same as any other cryptocurrency and would normally want to paint a positive narrative regarding the possibility of thier project performing as high as Bitcoin and it's just an easily way to fool valnourable once to believing that bitcon is same as any form of crypto out Thier.

We see a lot of shitcoins price drop so bad and many investors got wrecked for their belief that there's some of them will go the same with bitcoin since this is what usually promised by its creator by turn out to be a scam just as expected. So if they want to earn this much better if they could just avoid investing on shitcoin for long term since they are just wasting their time and money with that.

They should go directly on bitcoin since for so many times we always see that there's always good happen from people who believe on it and hodl for long time. And we see a lot of good things happen from it especially for its adoption so there's no question that there's a lot of growth for bitcoin to happen in future so its really better for people to directly invest with bitcoin if they want to have better investments since shitcoins will just give them stress.

Investing in shitcoins long term is foolish, never make that mistake Bitcoin is trustworthy as far as possible If you invest $100 $100 you invest in Bitcoin. Then you can benefit the most, because long-term investment in bitcoins will certainly reap benefits. And if you can't then start saving bitcoins in DCA method. Of course you invest in bitcoins success is sure to come but you have to be patient.

No investment is not risky, but when you understand follow the right step of investing, you will be able to lower the risk in it. Just like bitcoin investment, if you know the basics and work with it when investing, the risk will be limited. Bitcoin investment is for a long term like 4-10years  and above for you to be able to minimize the risk attached to it. Another risk is when you don't have an emergency funds, and you say that you are investing in bitcoin, it means that you will end up selling your bitcoin at a cheaper price, and run at loss when an emergency arise. Another risk is when you are selling your bitcoin and thinking to buy back in order to double your bitcoin, thinking it is a good strategy to use in increasing your bitcoin. Lastly, is when you think that bitcoin investment is a get rich quick scheme and you invest with the money for important needs.

Any investor that can use 10% of his income to invest on bitcoin using DCA by buying weekly or monthly consistently and have all the necessary funds needed that will make him not touch his bitcoin investment during his accumulation phase and hodli for long, will be happy for the sacrifice he took when he has accumulated enough Bitcoin. Personally, I think discipline, and patience are the big problem that most people are having that cannot invest and hodli for a long period of time

Your very right about this, lack of having enough resource can be a major issue for poor people so they have to be more careful, cause a big mistake can really mess them up and very few persons would have the will to stand up from such situations, from your explanation I think it's best a person without enough resources should focus more on having one asset built up and keeping at least an emergency funds that is 3 months of his expense to ensure he never dips his hands in his holdings.

In think there is actually a clear margin between the resources each person have and how wimpy or careless they can be, for a rich person that has many other well built investment, having to keep all or most value in assets or investments wont even be much of a problem to them and at times taking loans from banks in such situations with any of their asset is a far safe option for them or they could easily liquidate any of their lesser asset for such purposes, but for a poor person that has no much investment, he has far lesser
Options to pick from and must stick to having emergency funds in cash, he needs to have cash around cause he has to have more risk consciousness than the rich guy who has more resources and options than him.



Getting too greedy could well be the end of everything and this applies to both rich and poor, at times having the safety of a cushion is a good insurance for us, poor people mostly have tendencies to be more impatient and want to allocate all their cash to bitcoin and forget that each sides has its purpose, while the emergency funds might not be generating any extra cash or is just sitting around its good we build it up.

Yeah as our portfolio grows we tend to feel less comfortable with the amount we used to have in our emergency funds, so we have to also account for making sure that it is big enough to still be a cushion if thigns go wrong, from your explanation it seems that as we tend to get richer and more balanced it's good to increase our emergency funds.