Topic: Buy the DIP, and HODL! - page 189. (Read 135353 times)

That's why when think about investing for long term people need to settle first their financial capabilities and have a steady income since nothing will happen to their plans if they don't have good source that can generate them stable income since their investment with bitcoin for long term will fail with that. Also they should not get stressed out about the idea of having an emergency funds since it doesn't need to put a huge money on it instantly so that they would able to have that funds for important purposes. They can put some amount when they earn and with that for sure it cannot totally affect their investment. Proper planning especially separating between needs is important so that all plans will work well.

Many times it is seen that many big investors also lose patience so we should not lose patience if we can hold bitcoin with long-term planning without losing disaster, surely we can achieve a lot of success through this bitcoin investment. Many times we are in a hurry to invest in bitcoin so if we check the market without rushing and check the market and invest at the right time then we can change our life with this investment. Bitcoin investment has changed the fortune of many people so we should not be careless in Bitcoin investment we should always join our mind in Bitcoin investment so that we can get enough profit from this investment. There are many investors who invest too hastily without knowing about bitcoin market and they end up losing more than profit so I would say to them before investing in bitcoin you must gain enough knowledge about bitcoin market then you have to invest.

That's what actually happens with many older plebs, because their life-conditions prompted them to sell their Bitcoin in times when they need money. It usually happens to investors who are married/have kids. It's very hard for them to have the same sort of conviction as the person who's young and single with absolutely no responsibilities.

I believe if you're still young/single, DCA with some of your monthly salary, save the rest. If a golden opportunity happens again, like a bull cycle ending DIP, then like some people during 2019, Buy the DIP, and HODL. It might be a stupid financial decision, but being young gives you some time to recover and start again.

It has been frequently said here that let our investment money come from our disposable income after which we have ensure that whatever we might have considered to be a basic needs have been taken care of and also a provisional emergency funds inclusive, considering the fact that expenses may varies in different weeks or months  hence it is expected that the weeks or months we have lesser expenses our disposable income will as well increase alongside with the amount to invest and vis versa in terms of when we incured higher expenses, the logic is that your investment amount should be directly and relatively related to how much of your disposable income either weekly or monthly as the case may be which shouldn't have to be like a burden to investor.

and because of that, someone who invests in bitcoin needs to have a stable income and also savings that they can use when they need money for emergencies. because when someone does not have savings and they need money, then what they will do is think about selling the investment they have made, even though the condition at that time could be that their investment is in a state of loss, and that is a big mistake.

investors from the start must think about how they can divide between their investments and savings, so that when they need money for emergencies, then the savings can be used for that, not selling the investment they have made which can cause losses.

Making the decision that you will not sell your bitcoin investment for a short-term profit alone will not guarantee that you will hold your bitcoin for the long term. Bitcoin is a long-term investment before you can achieve the profit that will change your life. If you are accumulating bitcoin, you need to keep emergency funds, reserve funds, and floats so that it will be possible for you to hold your bitcoin for the long term. Anytime there's an unforeseen problem, you will easily solve it with your emergency funds, and you will not have to sell your bitcoin investment before you can solve it. Secondly, we shouldn't invest our whole money in a bitcoin investment so that we will have enough money left to take care of our living expenses, and we will not have to sell our bitcoin investment one day to survive.

Gaining enough knowledge about bitcoin market as a beginner before starting bitcoin journey is not necessary as people think it’s a must, if a beginner should learn how the market move before investing I believe such investor want to venture into trade to track the market movement so when accumulating I believe the investor will be forced to track the market movement. Knowing about bitcoin market is not bad but I don’t think it’s so necessary for early investors meanwhile an early investor is expected to accumulate at the same time learn about bitcoin aside the market movement. Accumulating constantly whenever the money is available is important although bitcoin investment needs a long term plan so I will advice an investor to plan properly for example keeping every necessity including emergency funds before buying.

We will have financial needs on the way in life and it is normal that our financial condition will not be good all the time but even in the midst of this we should implement the plan that we make properly. If we invest in a long-term investment plan, we must hold that investment for a long time. By investing ahead of time we forget that we have invested this amount of money. In this case I would advise the investor to invest a relatively small amount of money and keep some money aside for his needs. If the required amount is separate, then when his financial needs arise, he can meet his needs without selling his investment. I invested in long term plan when I needed it I sold the investment and when I got the money I invested again If we invest like this then we will never be successful in holding our investment for long time.

It seems that I also have to agree with what you say because there is an undeniable reality that the income that we consider stable is not considered stable by other people based on the definition. However, in general, stable income starts with income that is always regular every month, the amount of which is not too different between last month and this month.

And for the investment side of Bitcoin, I also have suggestions that are not much different from yours because basically everyone can invest in Bitcoin even if that person doesn't have a stable income because that person can still buy Bitcoin when they have a certain amount of money at a certain time. However, we also have to admit that people who have a stable income will find it much easier to invest as long as there is a strong intention to do so through Bitcoin.

So create a planning fund, with an emergency fund of at least 6 months to cover your needs then you will be a little comfortable investing it also never leave any job because it is your main source of finance.

With an emergency fund that you have prepared for the equivalent of the next 6 months to cover your needs, your investment plan will not fail or sell in the middle of the road even though your unexpected financial difficulties still have emergency funds to use instead of doing cutlos in bitcoin.

In general, the plan is quite good than you think of bitcoin investment but the emergency fund has never been thought of then it will be a mess you will not be able to long term in bitcoin.

I don't  know how long we have to stay in the loop of this stable income in FR...can you possibly define the term stable income, Not everyone has a stable income and not every stable income will last forever.
You can start Bitcoin investment without a stable income and work towards getting a stable income (sure no doubt that a stable income can help ones investment), Besides it depends on what you define as stable income just as have said earlier, we all have a view of defining our stable income, what you call a stable income might not be stable to another person.

But do we need to have a stable income before investing in bitcoin? I think as long as we have the income and flexibility to handle life's incidents, we can invest in bitcoin. Because not everyone can have a high-paying job or stable income. In addition, our purpose of investing in bitcoin is because we want a better, more stable life, and if we are stable, do we still need bitcoin? Therefore, if we have to wait until we have a stable income to start investing in bitcoin, it may be too late or we will never invest in bitcoin.

I agree with what everyone says, we need to plan carefully and use cold money so that our investments are not interrupted, but I wouldn't wait until I have a stable income to start invest.

In addition, the future is unpredictable and sometimes major incidents happen beyond our imagination so just planning is not enough, we need to be more flexible to deal with it if a big bad thing happens.

I agree with you here. Most people would say Bitcoin investment is not for everyone, which I'm afraid I have to disagree with. They say that because in as much as most people struggle to invest in Bitcoin, some investors tend to have low financial literacy. Is this a problem with our investment? A big yes. Financial illiteracy is a huge problem for Bitcoin investment. It ranges from poor financial management, inconsistent portfolio accumulation, misunderstanding risk, and using emotions to invest. One or the other an investors will fall in this categories if he is not guilty to all.

The solution is to figure out the part we are lacking behind and start working on it immediately. This is the fastest way to have a successful investment. Although Bitcoin has proven that long term is more profitable and it is a roller costa, yet it requires knowledge (financial literacy). Without it,  we risk crashing and losing our money from time to time making us not to reach our goal.

That's where they made mistake, and once the foundation is not strong the building will not stand. Many people just think that when it comes to bitcoin investment they will just jump into it without proper planning, but when it comes to other investment they will sit down and make proper planning, that's a very wrong mentality from their end. Most times people who act this way are just in for the quick money they will get and zoom out, their intentions were never to hold for a long time. Their major aim was to invest all the money in their hands and possibly see if they can cash out within a month or two. They have carefully calculated when they think they will use the money they invested to solve some future problem that they have already projected, so while they are still waiting they decided to gamble with bitcoin to see if they will have little profit before the day come. But unfortunately for them bitcoin investment doesn't work that way, that's why when the time actually comes and they haven't seen any profit, they go back and sell their bitcoin in the name of solving problems. They started poorly that's why the investment didn't last, because if they were in it for a long time hold, they would have made plans for emergency funds, reserved funds, floating funds etc. That's what people who are into bitcoin investment for long time does before investing in bitcoin. Source of income should be there too. These things are what will make the investment last. You can't tell me that you are going into long term investment in bitcoin without making preparations for these funds I mentioned above. There is no way it will last. Any person investing in bitcoin without these things doesn't have intention for long term hold, that person is not an investor. The person have intention of being a trader.

You are only looking at the surface, it is clear there is no person that wants to lose at anything, and if it was up to me I will get my way all the time, so it is natural that anyone that invest in any asset wants to make some profits, but why are you doing this to begin with? Why invest in bitcoin and not in another asset?

In my case I do not invest in bitcoin with the aim to become filthy rich or buy a lambo, nothing wrong with having either of those goals by the way, one of the main reasons I do so is because I really believe the current economic system is flawed, and it is best described by Stein’s Law which states: “If something cannot go on forever, it will stop.”

Now if I assume the worst possible scenario then I can only speculate such economic collapse could happen while I am still alive, so what to do to not sink myself with the Titanic? I have to invest so I can preserve my wealth on that scenario, as just saving fiat long term is pretty much useless, but in what assets to invest? And this is where the real problem arises, so after looking at several different assets and my specific circumstances, I came to the conclusion bitcoin is the best asset I have at my disposal in which I can invest.

But it's not actually promoting Runes, it doesn't have a coin or a token to shill to plebs like us. It's merely a protocol that's trying to build something on top of Bitcoin that would bring more utility and also interest in Bitcoin, then therefore bringing more value for Bitcoin.

There should be some utility-value in buying the DIP and/or DCA through a stablecoin in Bitcoin without going through centralized third parties, no?

I completely agree many people invest in Bitcoin with  intention of holding onto it for long term but mostly they are forced to sell due to financial constraints or lack of proper planning. It is really important to have a solid investment plan and stable source of income before investing in Bitcoin. Setting specific goal and sticking to it is very important so we do not end up selling our investment prematurely. It is important to be realistic about our financial situation and only invest what we can afford to hold onto for long term. By doing this we can avoid pressure of selling during market fluctuations and achieve our investment goals.

Everyone makes this investment as a sign of long-term holding of their Bitcoin investment before investing. But many of them are not able to keep their investment for long mainly due to their lack of proper investment plan and source of income. Suppose you invest in early stages and even swear from the beginning that I will continue for a long time. After you start investing in bitcoins, you find yourself in a financial crisis and sell your investment. Such is the case with many people that they try to keep their investment for a long time but they cannot continue their investment for a long time due to lack of sufficient opportunity i.e. lack of sufficient money.

So before investing in Bitcoin make a decision in such a way that you never have to sell your investment. Set a specific goal and keep investing until you reach that goal.

But unconsciously with the words you said actually it does not refer to investors but to those who are in bitcoin as traders and no matter how hard they think they are investors for bitcoin I think it is a wrong situation in perception because for those who are really investors they will not panic too much when there is an increase and decrease while regardless of bitcoin etf or halving they will remain calm because their goal is not short-term but long-term so when saying they are investors but still blame and consider it a mistake when bitcoin does not experience a significant increase I think in this case they need to examine further whether their intention is to invest or indeed want to trade.

In addition, I disagree with you when you say bitcoin is failing because however we must be aware that when bitcoin is experiencing a temporary decline it cannot be categorized as a failure because it is the nature of bitcoin which is indeed volatile so do not merely bitcoin is experiencing a correction they are said to fail because it is a silly thought because bitcoin to date has never been a failure at least for me.

It is well known that long term investment in Bitcoin or holding Bitcoin for a few years can yield very good profits.  But how many people have the ability or patience to make such a long-term investment? Impatience, fear, too much cunning or poverty prevent us from investing long-term in Bitcoin. not everyone can avoid these issues very few people can be successful with such a long term investment in Bitcoin. and the rest only regret.

When the price of Bitcoin is in the dip, everyone should invest as much as they can in Bitcoin, because in the past history of Bitcoin, we have seen Bitcoin recover from major crashes and at the same time surpass the previous ATH. If we ever see the price of Bitcoin dip in this future, it will be a golden opportunity for us to buy Bitcoin. Many of us may have missed one big opportunity in the past but that opportunity should not be missed. And of course following DCA STRATEGY will be the best investment strategy