Topic: Buy the DIP, and HODL! - page 181. (Read 134803 times)

What is certain in this case when we become a bitcoin investor as long as we are able and able to be in bitcoin I think it doesn't matter whether we are married or single because after all this is about our assertiveness in managing financial management. Although it cannot be denied that when married the needs will definitely increase but when we can manage money well then there will definitely be a part for us to use in investment so that married or not there are no obstacles and cannot be used as an excuse I think.
As for the pause, actually I don't really agree with what you said especially if we are focusing on DCA because precisely with a long enough pause that you do it will actually interfere with the DCA activities that you do so instead of that happening then from the beginning you focus first on your own readiness whether the investment you are doing is burdensome or not because if you feel it is burdensome then you can reduce a little from what you planned before.

An investor taking a break from their bitcoin investment should be when the time of the market is it. Whether the market is bearish or bull run. If the market is in a bearish market state, taking a break from the market shouldn't be advised because that's the best to accumulate bitcoin at a low price. For bull run taking a break is a good idea for the investor not to be buying bitcoin at a high price, but rather to wait for the right time to do that.

For this time of the market, bitcoin has a correctional price, it requires no break but a DCA strategy of investing till when one feels that the market has gone past the correction stage to the bull run. I think we will see that soon.

What an interesting thread to read. I never knew investment threads like this exist on the forum. I will appreciate more of this kind of threads. I think I like the part where you stated that having full knowledge is never the topmost thing, as we can gain this knowledge even while we put the investment to test. And also, I was wondering if you actually ordered the 9 individual factor?. My reason for asking, is due to it's accuracy because Cash flow happens to be the most important thing for investment purposes. If we don't that have the necessary funds, then there is literally no way we can put our investment knowledge to test.

Like I said earlier, I will appreciate more of these investment threads.

This is a very bad advice for an investor, when things get overwhelming, it's better to slow down than turn off your accumulation engine. Stopping for a period of time is disastrous as you may likely not continue again and end your accumulation journey halfway, if at all. Secondly you might loose interest in the accumulation process and turn to preying on your portfolio to maintain your living standards since you've lost interest in the accumulation journey. Its important you continue at the pace you can and have plans to fill up the loopholes when you get back fully on your feet.

As a committed investor, you can go the extra-mile to ensure that you are consistent by taking up an extra job just for the purpose of your accumulation journey. Continuous accumulation even in the face of challenges would help you get more focused, disciplined, enhance financial planning, improve decision making, increase your resilience and overall you would achieve your target. It has made me very fearless and powerful when it comes to managing my finances and achieving targets even in other aspects of life.

No matter the challenge, just do not stop or abandon any good venture for a while, try and see ways to accommodate it with other responsibilities that arise. One good thing is that if you desire to achieve something and believe within yourself that it is possible, even in the face of adversities, nature has a way of aiding you to success. The moment you stop, you've defeated yourself and that goes for your DCA bitcoin accumulation journey.

To me, it seems that you are attempting to be responsible and not to gamble with money that you do not yet have in your bank.  Surely, we can lend some value to our future income and our future expenses to the extent that we can expect any of them to play out, but we have to be careful in terms of spending them prior to getting them locked down... .so if we are not spending from our disposable income, meaning money that we already have in our pockets (banks or wherever we keep our money), then we have to be careful about spending it before we get it since that might be a kind of gambling rather than investing... ..   yet don't get me wrong, each of us does likely place a certain expectation in regards to our future income and/or expenses, but there could be lines upon which we should not cross if we prefer to be investing rather than gambling... so maybe I know that every two weeks I get paid $2k, and my expenses every month are about $1.4k, and if I have various reserve funds already in place, I might spend some of that money before I get it, but if I end up getting less than expected, then I have to be prepared that somewhere in my reserve funds (not my emergency funds) will end up covering my decision to spend prior to receiving the money, and so I should not be creating situations in which I would have to end up dipping into emergency funds for some kinds of spending that were completely under my control, which includes buying bitcoin dips.

So for example if I tend to have around $350-ish of discretionary income every two weeks, and I have reserve funds that are in various categories:
1) $1,100 for buying dips or baby emergencies ($100 for every $1,500 dip between $52,500 and $35k-ish - (I had already bought $100 at $55.5k and $54k)
2) $600 saving for a trip next yearor baby emergencies
3) $60 saving for a bicycle or baby emergencies
4) $300 saving for various unexpected entertainment expenses or baby emergencies
5) $600 saving for a caror baby emergencies
6) $600 non earmarked savings/available fundsor baby emergencies

7) by the way, there could be another completely other category that might be in the ballpark of $3,500 or more that would be my emergency fund (that currently is slightly more than 3 months of my expenses), and perhaps I would never tap into my actual emergency fund absent an actual emergency.. maybe historically I used to keep my emergency fund at around $2k, but then in recent years, I raised it to $3,500 and I am anticipating in the coming years that I am going to have to raise it to around $5k since my monthly expenses seem to be creeping upwardly.

There could be various categories of my reserve funds, and maybe some of that money is held in the bank and other might be in other places with earmarks.. and maybe relatively easy to get.. perhaps some earning interest and others not.  So if I suddenly feel that I want to buy more BTC because there is a dip and I had not already set enough in place for buying dips, or if I were to want to buy BTC prior to my income coming in, then maybe I could draw from one of my reserve funds in order to have options and to do what I want, yet I probably would have already had assigned priorities towards which one of the reserve fund is more important to me personally and whether i want to tap into funds that are already allocated, so the thing and/or the reason for my tapping into those funds would have to be more important than the thing that I am saving for in terms of having had built up the reserve funds.


So many times in this thread we have surely mentioned that buying the dip might not even be practical for a beginner investor since it could take a beginner investor a year or two or longer just to get his finances into a good position that he might be able to start to have some money set aside for buying the dip.. and surely the first two categories to build first is the emergency fund (of 3-6 months) and the bitcoin investment which surely could match the 3-6 months of the emergency fund in terms of size before setting money aside in other categories including setting money aside for buying the dip, which surely might be a luxury for any newbie investor who might be struggling with the amount of his disposable income and it might not make a lot of sense to be holding money aside if the disposable income might be less than $100 per month. and maybe there had already been a decision to invest $10 per week into BTC and $10 per week into the emergency fund to build both of them up to 3 months worth of expenses, which might be several thousand dollars, which could take 1-2 years to build them up to that level, so there might be ways to try to increase disposable income by increasing income and cutting expenses, but even that sometimes might be difficult to accomplish for some folks.


Well, there are a lot of ways to participate in a thread like this, even if a person might be very new to bitcoin investing.
 
A newbie can describe what he is doing and ask questions or the newbie could describe what he is doing and argue that what he is doing is a good thing and perhaps even suggest he is following sound practices with what he is doing and what he is planning to do.  Just presenting ideas can sometimes be ways to ask questions, even if the post might not be framed in terms of a question.

It is nice to hear some of the experiences of others, and some folks have experiences in areas that are related to investing into bitcoin, but maybe not specifically in bitcoin, so they might have to describe some of their experiences in order that we might better understand how they might be thinking about their approach to bitcoin.

Of course, sometimes in a thread like this members will read the posts of other members and come to their own opinions regarding the posts of others, and they may want to ask questions about the post or even to state that they believe that the member is wrong in terms of what the other member is suggesting.. so some of those responses may or may not be completely based on experiences, but might be questions about logic and conclusions  and opinions of other members.

Sometimes we do end up involving ourselves in threads like this one since we might be trying to learn from the experiences of others and perhaps even trying to prevent or minimize some of the same mistakes of others, so we might not specifically go through some of the experiences and still come to some opinion and/or perspective regarding how we might want to approach our bitcoin investment, and we might not even be so sure if we are correct in regards to our own opinion and/or perspective unless we might share some of our ideas in a thread like this prior to applying our ideas into a bitcoin investment (accumulation) practice.  Some things might be confusing for beginners/newbies, and we might be able to help them with certain kinds of questions that they have, including from where they might best source their bitcoins based on where they live and sometimes the available options are changing, too.


Buying the dip or setting up strategies to buy the dip may also depend upon how long you have been investing into bitcoin and how many BTC you have already accumulated in regards to your disposable income and/or your goals, which surely might also relate to your reference to financial power, but some aspects of individual considerations relate to financial considerations, but other aspects relate to psychological and perspective based considerations... for example, looking at the 9 individual factors that I believe are good to consider for both beginners and for more advanced bitcoiners.. and so yeah, buying the dip does seem like a more advance technique that a brand new bitcoin investor might not be advantaged in doing if he is in his earliest of stages of getting started... since there is no way to prepare for up besides buying bitcoin, and if you are waiting for a dip, you may well not be sufficiently/adequately prepared for up.


I am not sure if that is great advice.. but it could work for some folks... reminds me of the suggestion regarding: how to become a millionaire... start out with 2 million.

Doing DCA does not need to be when prices are down, just do it all the time while they are still able to do it because DCA is a weekly/monthly routine purchase so don't look at the price being up/down continue the task because DCA as I understand it is like that.
While buying when down is called Dips with the funds they have prepared to take care where bitcoin goes down then he is ready to buy dips.

All can do it including beginners not also in the designation of old investors and even if a beginner wants to start by buying when dips he can do it as long as finances are ready when prices are down.
So for beginners there is no word for old investors or whales, they can do it as long as which investment strategy they think is good and comfortable, then most people have DCA because it is done every month when they receive a salary.

There is always a possible solution to almost every problem, if only one can take a moment to meditate and reflect on the whole problem at hand, before drafting out careful plans that would last long and also meet what it was created for. We can't dispute the fact that marriage comes with a lot of responsibilities, but it's never the end of the world. When both couples are hardworking, and share similar investment vision, or maybe one party supports the other party's investment plan, then there shouldn't be any fear. Except both couples are literally the type that can't put heads together to make plans, or see how their Bitcoin investment would last.

For any of the party (either the man or woman) who feels their Bitcoin investment should be kept as a secret from the other person, then he/she must have a buoyant source of income that will be enough to fulfill his/her monthly duties, and also invest in Bitcoin as well, which all depends on if both parties are bearing the responsibilities, or just one party alone.

Let me give an example to the first paragraph using this very old series titled: Prison break. We all know how Michael who is a structural engineer, carefully sketch the entire building structure of the prison where his brother was held. Even though, breaking out of the prison was a long term plan, which they had to include others while facing so many challenges along the line, that didn't stop them from getting out of the prison.(though, that was the first escape).

In this similar sense where an investor chooses a long term investment plan, the partner should be introduced at a certain stage, so they both know the plans on ground. Moreover, it's for the benefit of those in the family. Except the investor have enough income to fulfill his/her duties as a parent, and also invest in Bitcoin as well, then it can be kept as a secret.

People that are DCAing regularly weekly or monthly are still buying at the dip because they are just buying and buying and buying all the time without stopping. This is why DCA method is the best method for new investors to use because it gives you the opportunity to buy both at the dip, the bottom line of the dip and when bitcoin price is high since he is investing in a long term. It is not good for beginners to think of buying bitcoin only at the dip and that is where some of them get it wrong because what if the dip did not come, they will still be sitting on the fence waiting for the dip and watch others building and growing their bitcoin investment.

If as a newbie during the dip, you are lucky that an unexpected funds comes your way which you don't know what to do with it, you can take advantage of the dip and buy bitcoin at once with such funds while you continue with your regular DCA weekly. Buying at the dip is for old investors who have accumulated a good size of bitcoin and don't see any reason to DCA anymore because it will not add much increase to their bitcoin stash, such investors can wait for the dip in other to buy at once with the money that they have kept for that. DCA is good for a no coiner and low coiner.

Hahaha you are very funny though, reading your post i couldn't catch my breath for a second because of laughing, however I take it as an irony you meant but though you really hit the nail at the head because so many persons were actually getting confused on the negative impact there marriage will bring for them on there accumulation or how they will cope on continuing there Bitcoin accumulation, actually is quite funny because I see no reason why someone with a proper planning will even find it difficult continuing there accumulation after marriage because I have actually seen a married women and married men very consistent on there Bitcoin investment do to the proper planning they had from the onset.

Yes, everyone who will give advice must of course be based on that person's experience, like investors who give advice because of the experience they have had, but as a beginner I am quite open to anyone who will give me advice about the world of investment and how to apply it. That's right, I won't look at whether his background is experienced or not in this matter, because some of the advice or overall ideas or ways on how to invest properly are very easy nowadays for us to find them either through forums or articles on sites or the web.
because the ultimate goal is the same, how can we be consistent in investing in bitcoin. Here the importance of practice rather than theory, by practicing or investing directly in Bitcoin we will get direct experience, this is the approach we should take so that we understand and understand and gain valuable experience. to serve as a reference for the future.

My thoughts on Bitcoin are simple. BUY, HOLD. until several years to come. And I will not be affected by strange news.

That bitcoin hasn't crossed the $80k doesn't mean it won't cross it. Patient is really important here. Ups and down are really part of this bitcoin industry. Truth is minor dips like this when the bullrun is ahead is actually a great blessing. I keep telling people that these things we see and call dips are pure market manipulation from whales and institutional buyer. Plebs like us have to recognize this traps and make good use of it. I have been in this space for sometime now and I have seen many dips and it doesn't bother me anymore. Like the recent dip, I heard the German government were selling off their bitcoin and this contributed to the market fall, other factors contributed though. But surprisingly the German government started buying back and they got a reasonable amount of bitcoin at a reduced price. We as bitcoin investors must wise up to know these tricks. Even if others will fall for it, let us that are into long term hold not fall for these things and panic. Follow the market manipulators and benefit from the dip they caused. Never be tempted to sell off your bitcoin to them.

Hahaha that's really funny. What if you marry a beautiful girl and you treat her like a queen or as if she is the only one in the world and yet she doesn't support your dream, what will you do? Though marrying a rich wife doesn't even guarantees your accumulation process. You may marry a rich wife yet she may not be supportive to help you in the accumulation process. Where it could have been better is when both of you have thesame zeal and passion or desire to achieve the goal of a regular DCA acculturation. A rich wife or no rich wife, DCA and long term investment is a personal choice or decition which is not a must that your partner must be in the scope of your plan. If your partner happens to support your vision of long term investment in bitcoin it is good for you. But it is under probability for a woman to support your bitcoin journey because they are not always patient, they always need sharp investment that will yield profit in a short period of time. that is why most of them can not invest in Bitcoin. Just bear it in mind that the journey of your long time investment relies on you and not on her. Surely marrying a rich wife might be problematic sometimes, in terms of investment. and marrying an average girl may be helpful in time of being supportive I.e (vise versa ). But the truth of the matter is that we should not expect them to have thesame though as we do, but we should do what is necessary without any form of  distractions because any distractions can reck a man's dream of buying and HODLing for a long time.

You know when such individual continue with his DCA, like being consistent with it even when there's increase or decrease in price , such individual is Also buying the dip but with the use of DCAing method, but still in any method one is using to accumulate he or she still need to make some nice plans ahead to secure a smooth investing, like having some reserve funds, and more importantly having an emergency funds. As time goes one will begin, to see the usefulness of making such plans especially engaging in long-term investment in Bitcoin.

I have an advice that will truly gladden every man's heart if they are lucky enough to have it happen to them!

- Find a very rich girl to marry and love her like she's the only woman left in the world!

I believe if you could do that, you will probably have no problem looking for capital to deploy for your monthly DCA or Buy the DIP strategies.

She doesn't have to be beautiful, just rich is enough.

Capitalising on the market, during dips is a personal investment decision in bitcoin. An investor might choose to go with DCA strategy all throughout his/her long-term holding without buying during dips. Keeping it Consistly with a DCA it's what matters, the aim is to build a solid bitcoin portfolio.  Capitalizing on dips depends on an investor's financial power( reserve funds), preparation towards a dip. Not capitalising  during market dips doesn't mean your bitcoin accumulation will not grow if you are using a DCA strategy.

You are right I agree with you. Before giving advice to someone else he needs to gain experience in the matter. If a person is not experienced enough about bitcoin, he cannot answer your question. Because if an experienced person answers someone's question by answering their question, you will understand how experienced he is. An experienced person's post will always be very positive. Questions cannot be answered well by hearing from others. But experience is very important in bitcoin investment If we want to invest in bitcoin we must gain experience. Sometimes due to our lack of experience we may not earn enough profit in Bitcoin. And before investing in Bitcoin, you must know yourself well about Bitcoin. Slowly we will become more experienced in Bitcoin. But no one can gain experience in Bitcoin from scratch.  At first he invested in Bitcoin as a newbie and slowly through his knowledge and skills he became very experienced in Bitcoin. But the Bitcoin market is very volatile. So in case of bitcoin investment we must be careful enough then we have to invest. In this way if we can invest in bitcoin we can definitely achieve a lot of success.

Many people ask questions in this section and many people answer them, but how many people are still investing according to DCA method but still unknown. I asked what it would take for me to invest consistently and another person answered me nicely but he never disclosed whether he had previous experience or was investing consistently so far. We must have experience in any subject before giving advice. If we don't have experience in that matter then if we give advice to others by hearing from others then that advice will be very wrong. So I think people who give investment advice are definitely investors.

Well there are certain advantages that comes with the DCA strategy which of course many investor have used and is effective. The DCA strategy offers the leverage for the investor to have a specific goal and also work towards that goal without the fear of always checking of there is a Dip in the market price value of Bitcoin although to some extent it's even good to know the market dips because that's when you actually stake up big time Bitcoin number since the price is low but even if you can't afford to get the Dip the constant buying of Bitcoin will just keep the investment moving smoothly but of course there are also certain things you must have put in place like the emergency funds, an actual good pay job, reserve funds and also the float funds to make your journey and effective and smooth one.

There is no need to wait for the right time to invest in the DCA method. If you invest in bitcoins using the dollar cost averaging method, you don't have to worry about bitcoin prices falling. You can start investing any amount at any time by adopting this balanced approach. People invest by adopting this method so that they can keep investing i.e. keep their investment moving whether it is small amount or big amount.

DCA is an investment strategy where an individual invests using this method by purchasing a fixed amount of Bitcoins at regular intervals. It could be $30, $50 even $100 or more. When the price of Bitcoin falls, investors can use this method to purchase more Bitcoins, which gives them an additional benefit.

Are you sure about this statement?. Assuming my DCA strategy is to allows purchase $40 worth of Bitcoin every 10th day of the month, and the price of Bitcoin went down to as low as $56K/BTC on the 1st day of the month, and I decide not to buy on that first day, but rather wait until my normal time(10th day) due to financial constraints(like salary delay which is a common thing), and other reasons. Does that actually mean I don't understand the knowledge behind dip, or I just don't want to capitalize on the dip?.

I think you need to understand that a strategy must be a strategy. It doesn't matter if your buying time comes when there is a dip or not. Buying the dip for those who uses DCA should be done if there is a spare change or additional funds that has nothing to do with your investment funds, except the dip falls within your strategic time of buying. Though, there is never a perfect time to buying Bitcoin, but if my DCA strategy agrees with buying Bitcoin every first Monday of the month, then it should be so, no matter the market value or price. I would be of course, delighted to buy any dip, if I have any additional funds lying around.