Topic: Buy the DIP, and HODL! - page 18. (Read 128946 times)

If you carefully go through my post, you'll notice that I never mentioned that setting targets for your Bitcoin investment is a bad thing or that it can prevent you from taking care of your basic needs. My focus is that some people can set unrealistic targets and in the process of achieving the set goal of meeting their aim, they overlook their well being. So what works personally for me is that my focus is on making sure that I'm removing the percentage from my income into my DCA strategy for buying Bitcoin.

I personally don't bother so much about how much Bitcoin that I want to own in the next 10 to 20 years, what is important for me is being prudent with my expenditures every month so that I won't miss out on accumulating my bag. As my income is increasing so also I'll be increasing the amount that I set aside for accumulating Bitcoin. But what doesn't work for me might work for another person, it's the end that justifies the means. Whether your motivation is to focus your set target for a perticular amount in the future or you're more concerned about not missing out to buy now, the important thing is for you not to relent or stop your accumulation and hodling.

In fact, as people of the previous era my parents cannot rely on invisible assets. Rather their preferred area is any physical visible assets. But I have tried to convince them with the strength of my knowledge and I am in some experimental investment. However I have made some changes to the investment plan. I find the DCA method very effective and suitable for me. So from now on I will continue to invest following the DCA method. I am very grateful for your opinion.

In my opinion, the pressure that is felt when investing in bitcoin reflects that the planning that was done was not carefully prepared before jumping directly into investing in bitcoin. Because in my opinion, someone who already has good planning before investing in Bitcoin, I don't think there will be much pressure when carrying it out. So I think this is something we sometimes forget to do.

Therefore, when planning to invest in bitcoin, you should first study the price cycle that always occurs in bitcoin. Then also think about how many years you will invest, for example 10 or 15 years. Then after that also think about what purchasing method you will use when investing in bitcoin, whether it is DCA or another method. Then also look at the financial condition you have, the job or business you are running, and only after that can you draw a conclusion about how much cold money you will invest. I think if we follow what I said, maybe we won't feel pressured when investing in bitcoin. So in essence we must have careful planning when investing in bitcoin. So that when you are carrying out your investment, it can run more smoothly.

Our investment is meant to be within the level of our discretional income wether in terms of increasing our investment allocations or maintaining it, it is more like gambling for any one to invest more than their level of  discretional income because they will end up using the money that is meant for others living expenses to buy Bitcoin and at such may end up running after your investment to solve your other needs, indeed the concepts that is more reliable is to approach our investment without any form of pressure, but if there is any good reason to increase our investment amount it is also good, but it shouldn't be done by seeing it as a stress.

If you are eager for a successful life those not mean you are rushing life, if maybe you are comfortable with the little Bitcoin you have accumulated there's no way you will continue your accumulation you will always feel the need not to in fact you will be using the money for another thing meaning you won't be consistent with your accumulation because you are already comfortable with the little you have accumulated.
For those who are not comfortable with there little accumulated Bitcoin will become more consistent in there accumulation journey, not being comfortable with one's little accumulated Bitcoin those not mean he will become frustrated, depressed or will cause pressure on him like you said, not being comfortable will only make him consistent in his or her accumulation journey.

The reason for DCA method of investment is to make bitcoin investment easy, people don4 need to struggle so much to raise fund to invest. The DCA method of investment is a style of investment which people can invest with ease just with the amount you can afford.

You don't need to be worried about increasing your investment which is beyond your means of income, the most important thing is to be consistent with your investment no matter the amount it is and for sure there will be good result. It is always advisable to invest with amount you can afford, don't try to invest more than your means, with consistency you can be able to accumulate good amount of Bitcoin.   No need to stress yourself to increase your investment,  with accumulation you can get the increase you are looking for.

Even when the whale accumulators buys, hodl and still keep on buying, why don't the plebes also buy, holdl and keep buying if we can? Well, let me say the challenges of the plebes is their financial levels because everyone are deed to buy only amount they can afford.
Don't we have this insight that our profits of investing on bitcoin is based on how of value we holds and how long we holds them knowing that bitcoin is a volatile currency and even in the global economy such as the stock, it still demands higher capital offers you higher profits.
So making it big in this bitcoin sector demands accusations if we're plebes. It's all about desires and disciplines to hit a sum of target.
Just get to buy either at the dip, bear or bullish sessions and hodl for the future market holds the best

You are getting it twisted, setting a target doesn't mean that you should not take care of your basic needs or monthly expenses neither deprive yourself from other important things that must be done. Setting a target will only enable you stay focus and work towards it with all commitments and determination because you have a goal to achieve. For instance, you will be careful with the way you spend your extra funds and cut down expenses on stuffs that you can do without. For instance, drinking two bottles of beer every week or the money that you put use to gamble every week will be channel into accumulating more bitcoin apart from your DCA.

Also, whenever you have extra funds that you don't expect or plans for, it will make you think of buying bitcoin with it right away because you don't want the money to be used for something that will not be beneficial to you in future. The investor can easily lump sum happily with such funds because he has the zeal and passion to reach his bitcoin target.
Bitcoin investment does not need pressure to invest because it's a long term process, otherwise, you might end up selling your bitcoin when there is too much pressure on your finance because you are doing it the wrong way. Bitcoin investment should be done the right way for success in future.
Of course, the amount of money that we use to DCA should be the amount from our discretionary income that is cool with us to continue buying with such amount overtime till we have an increase in our discretionary income. If not, if you go and overdo it with a bigger amount that will affect yout expenses, it means that you are gambling and will end up selling your bitcoin investment at loss when you want to take care of your needs.

However, if you have a target, that will not make you think of acquiring bitcoin in a wimpish way of just been satisfied with only the amount that you can use to buy bitcoin weekly when you can increase it and it wouldn't affect you financially. For instance, when you don't have a bitcoin target, your discretionary income might be $100 and you will be cool with buying bitcoin with $40, because you feel you don't have any target and don't need to invest too much on bitcoin. When you can invest $70 instead of $40. You might have a salary increase and still feel cool of using your initial amount to DCA instead of increasing it.

Having a bitcoin target is another form of motivation on its own to make you find different means and opportunities out there to increase your income. One thing that you should know is that, it's impossible for anyone to be investing in bitcoin for long without an emergency funds to take care of your health and whatever unforeseen challenges that you will face, if not you will sell your bitcoin before time to solve them.

One thing that you should understand is that we might set a target and be seriously working on accumulating such quantity of bitcoin but due to the time frame and the price of bitcoin in the long run with how our income will play out in the long run, we might not be able to reach our exact target but we would definitely get closer it to, despite all the seriousness and persistent to keep our bitcoin accumulation ongoing.

That's definitely the RIGHT attitude, especially for those people who doesn't have large amount of capital to make life-changing money in one mere cycle. Plus it probably also should not be merely about the money, but make the journey itself is our life-long "vocation". Because the Central Banks will never stop printing money, our job as Bitcoin investors/users is simply to buy more whether it's during bear cycle DIPs, or DCA during any kind of market situation. Bitcoin's long term value will NEVER go down as long as the Central Banks will keep expanding their balance sheet through BRRRRR-Money-Printing.

I disagree with you dude, it is true that some people are not comfortable with their holding while some are comfortable with their holding and those investors that are not comfortable with their..., and tends to increase their accumulation is not really a bad thing right but sometimes or most times it's not good because it can result to a lot of things like being biased, frustration, panicking, selling when you're investment is not mature or due because you will be so worked up because of the quest to increase one's accumulation, as a matter of fact you are imposing so much pressure on yourself. Just like I said earlier it's not really a bad thing but while not continue accumulating regardless and just be consistent and wait for such opportunity to come to increase your accumulation instead of striving to..., since one is investment for a long period of time you don't need to rush there's time for everything.

You are very wrong; if you don't plan your bitcoin investment in the right way, I bet you will sell your bitcoin investment along your accumulation journey just to survive. For instance, if you use the money that is meant to sort out your daily expenses to accumulate bitcoin or you use your whole money to invest in bitcoin, you will end up selling your bitcoin even though you are at a loss to sort out your daily expenses. We should always use the money that we will not be needing for like 4-10 years or more to invest in bitcoin. so that we will not be in a hurry to sell our bitcoin investment, which will allow us to hold our bitcoin for a long time.

I know you are a newbie, but I want you to understand you don't need to wait until you buy bitcoin in your bitcoin wallet before you can keep your seed phrase or private key safe. Immediately you create your bitcoin wallet, the next thing to do is to write down your seed phrase or private key on a piece of paper and store it in a place that is only known to you and free from natural disasters. And also stop connecting your phone to public WiFi so that you will not expose your bitcoin wallet to scammers, which will give them access to your bitcoin wallet.

I couldn't get much meaning to what you are saying because i don't no the business of people who doesn't invest on Bitcoin have with the targets of acquiring 1 Bitcoin and secondly nobody is against the idea of 1 Bitcoin but all we are just saying is that to be more proactive you need to eradicate the impression of I want to have 1 Bitcoin without a target because there is no zeel attached to it and is just mere word and the fire is not in you, for example if you have plan of owning a plot of land that would possibly worth $23k, would you just say you would acquire the property before getting old? or you will condition yourself with a task that within that time to a particular period you should be able to get the property?, so in relation to Bitcoin investment that's actually what we are talking about.

I personally don't have a set target for the number of Bitcoin that I want to accumulate into the future, because I don't want to put myself into unnecessary pressures to achieve the goal by all means. Although there's nothing wrong with setting a soft target for yourself into the future, perhaps in 10 years time to achieve a reasonable amount of Bitcoin but there's no need to over labor yourself or deny yourself of basic needs that are essential to live a healthy lifestyle because you want to accumulate 1 or 2 Bitcoin within the timeframe.

DCA method for example gives you the ease to accumulate according to your income at any particular time, no need to overpressure yourself and miss out on having a meaningful life by overstretching yourself in the cause of wanting to meet up with unrealistic targets that your income can not accommodate. It'll be unwise to stash your bag with a reasonable amount of Bitcoin in the future then not be in good health or sound mind to enjoy part of it in your retirement or worse don't even be alive to enjoy it. What I focus on is the percentage of my income that I set aside for my DCA method, that is where I have a constant for my accumulation, not the amount of Bitcoin that I must have in my retirement.

Sometimes people intend to put their self into difficulty by trying to use money meant personal needs to invest into Bitcoin not knowing that Bitcoin investment is a longer time money for Bitcoin investment should be money you won't be needing for long just like you have said that it should come from your discretionary income. Also waiting for the dip will only delay your Bitcoin investment journey because sometimes it may not even dip investor who can choose to wait for the dip before accumulating Bitcoin are properly those that has gotten to their Bitcoin accumulation target or those that has been accumulating Bitcoin for the past 8 years or more may decide to little by little during the dip but for new investors is a wrong idea to wait for the dip that's why the DCA strategy is there to help an investor accumulate Bitcoin gradually regardless of the price and continue hodling, the dip should only be an opportunity for an investor to accumulate enough Bitcoin and HODL.

You are right however some set of people are so comfortable with there current level and they don't bother having another source of income or increasing the amount which they use to accumulate there Bitcoin why some people are usually not comfortable with there level they try to grow there current level and also increase the amount of there Bitcoin accumulation.
Now between this two set of people who do you think we do more better for me I think is those who are always uncomfortable with there current level and trying to increase the amount they use in accumulating Bitcoin, this set of people are the once who always accumulate and hodl consistently because they always want to change there current level or position.

Yea, it's true, I think these are what it entails to be sound and effective in not just your Bitcoin accumulation journey, but also your ability to hold strong even in the face of financial crisis you may encounter at some point along the line in your Bitcoin accumulating and investment journey, so having a source of income or more and an emergency funds kept aside is the ideal recipe needed to buy and hold strong because patience alone is not enough as a Bitcoin investor.

Then lastly, as a Bitcoin investor, it's best to invest with the mindset of holding for a very long period of time, because the way Bitcoin is being structured, in other to reap the full dividend of your Bitcoin investment, it's best you hold for a very long period of time, because the more time's flies, the more Bitcoin appreciate in value.

You can ONLY do what you can do in terms of your level of aggressiveness, except maybe studying other ways to either earn more income or to cut some expenses... yet we each have limitations, including that sometimes it just takes some patience if we are doing as much as we can, then we still likely are going to do o.k. as long as we are more conscious about being proactive, rather than just sitting on our early investment and not doing anything further when we could be adding to our stash, even if it is relatively small amounts... yet we still may well end up putting ourselves in a better position from having had invested into bitcoin for 2 or 3 cycles rather than not having had done so.

There is a reason why it's basically said before investing in Bitcoin you should atleast have a Workin jobs that can atleast cover for some expenses, and also have different saving plans like emergency funds, and other discretionary funds so you get affected or need to lower or temper with the amount you are using to buy the Bitcoin or the saved up Bitcoin.

You haven't said anything wrong nor have JayJuanGee said anything except the truth, perhaps I will have to add this; chasing perfection should never be part of the plan of any investor or a yone into bitcoin investment whether newbies or someone who's already deep into it.

Trying to make everything perfect only results in one thing which is not achieving a good goal because basically life is never meant to be simple so every step you take towards achieving great goals like bitcoin investment it will have to throw some stones towards you all you have to do is pick them up and build a shade towards your investment so that nothing can wave you to the extent of wanting to sell your holdings.

Since mistakes is inevitable one should prioritise achieving the slightest amount of bitcoin instead of complaining about ones mistakes or quitting the journey out of regrets. perhaps all have have to do is follow the plans and weigh your budget with your plans if they are compatible enough to carry out as time goes on where changes needs to be made then you can make them yet achieving your bitcoin which is the real deal.

Mistakes are not supposed to be much of a deal to the process, life is full of mistakes/regrets/assuming to have picked a better option but at most how we relieve ourselves matters, when decision making becomes a skill it is the easiest way out from such mistakes. For anyone who has failed to plan, may have already made plans to just rub off the surface of investing, any heat can eventually pull out such a person from his investment plan without a second thought. I suggest anyone to stick with making those plans, accepting mistakes and taking corrections if it does happens, adjusting is better than no planning.