Topic: Buy the DIP, and HODL! - page 200. (Read 135633 times)

An investor who always get worried over his investment on Bitcoin because of some little move he saw on Bitcoin price movement is obviously not ready for an investment because one thing he must understand is that in as much as Bitcoin is a very good potential investment doesn't mean that it will not go through some ups and downs on the process because for someone who has a good dream of the future of Bitcoin will never allow those things to affect his psychology on his investment, however that's actually the difference between those who have serious passion and desire for Bitcoin investment and those who came to Bitcoin investment only because they believe they will make some profits in the time to come.

I have tried reading down your write up it still got me confused maybe you wanted to quote some one else which I don't know. But talking about buying Bitcoin at favourable and unfotable price which I believe you wanted to say unfavorable that it is not professional if I get you right I believe that is what you mean, but I want to tell you that with your DCA strategy you can buy Bitcoin at different price level without checking if the price is favorable or not which shouldn't be your concern, as long as your discretionary income is intact you can accumulate more Bitcoin at different price level either weekly or monthly with your DCA strategy and hodl for a longer period of time 4-10 years as the case may be.

I think the essence for DCA investing bitcoin is for one to be a able to afford a fixed amount to invest in bitcoin but when one is investing with the fund that can't be afford to lose that means the person is going contrary which can end up as a bad investment because of the volatility of the market. The DCA method has made investment to be very easy for everyone and for people to invest without fear of losing and for one to be able to have a reserved fund that can be use for emergency .

It is out of greed people invest with the money they can't afford to lose because they want to make quick money and huge profit, people make this mistake because of lack of understanding.  Someone who truly understands bitcoin and the market will never use all the money they have to invest bitcoin because it is a wrong investment plan that will result to nothing.

That  is the importance of a DCA strategy,  whether the conditions of the market are favourable or unfavourable  DCA  helps you to keep accumulating  bitcoin regardless of market performance. DCA helps investors stay focused in their long-term goals acumulating asset (bitcoin) consistently and efficiently despite market conditions.
This question where also asked from the inception of bitcoin 10-12 years ago, there where many who doubted the potential of Bitcoin just as you're asking, and they failed to capitalise on the  opportunities bitcoin presented at that time, so many have testified of their regret. When we look at the pace at which bitcoin grew over the period , commanding good amount and competing with so many other assets (e.g real estate, land, gold and silver ....etc) that where in existence many years ago before its birth  it shows that bitcoin  has the potential and grow for many years to come. It's essential we keep an open mind in bitcoin while accumulating to build a good portfolio rather than ask questions that can bring uncertainties to bitcoin investment.

what people need to be able to focus on their investment is they need to think about the big picture of their investment and invest the money that they are ready to invest. because there are many investors when doing DCA they are not ready to use their money for that, and when the market experiences a shock, they end up worrying about their assets that are decreasing in value, and then they sell some or all of their assets because they are not sure about the market. that's why the key to DCA investment is how someone can be consistent and invest some of their money that they are ready to invest and let it grow in their wallet.

One relatable human behaviour is about always wanting more, in every aspect of our lives, most especially when it comes to the point of financial achievement, it is noticed that no matter the money already made, we still strive to make more, same goes to Bitcoin. First, it is a matter of ones decision, let the mind be willing then it becomes a habit of consistently wanting to go beyond our estimate or target budget. Since it is something done with an open mind, then many investors will not see it as a big deal to generate another budget after completing one already.

I agree with you on stance that Bitcoin Accumulation and how far one goes is personal targets and subject to individuality. 
I disagree that Country of residence will in anyway affect a decision that an investor already have made concerning Bitcoin Accumulation relating it to amount present ($$). There are still youth in the aforementioned countries that live and can comfortably invest $1000. I doubt that it would hinder them rather you can context it in terms of probably Job opportunities that pay such sum, skill set and means not the country of Residence. There are still others in UK or the so called developed countries that cannot afford such amount,... Having talked about Individuality it would be necessary to relate it that way because of really any investor wanna scale up he will do anything within his power to keep up and not being limited because of country blah blah.

If it is based on present market condition, you are very correct because $10 DCA will rarely yield anything significant but that does not mean that a low income earner cannot take that path rather than doing nothing or waiting to have big amount of money before investing in Bitcoin. As long as $10 investment can be made regularly without any challenge that might force the investor to sell his coins, I think it is a good choice for a start while the investor work more on scaling this by seeking additional sources of income.

This still bring us back to what you said which is individual targets and personal ambition. Age is a factor like you said and I also think that country of residence is an important factor. Someone living in the UK might have different Bitcoin target from someone living in Bangladesh or a country like Niger Republic the reason being that $10 might mean something very big for someone living in Niger Republic or Bangladesh whereas the same amount can barely afford a breakfast for someone in the UK and also less than the average pay per hour some someone in the same country. In other words, the ease of making $1,000 dollar in the UK is far less than that in a country like Nigeria where $1,000 is like dream amount of an average young person. Under this condition, someone in the UK might set a target of accumulating 1BTC in two years whereas someone in Nigeria might work for the rest of his life without being able to save 1BTC. So setting Bitcoin goals for both scenarios will be totally different.

There is definitely a point of satisfaction in whatever we are doing in life and bitcoin investment is not exceptional. There is a point you will get to in the course of your investment and you will feel that wow, I have accumulated this amount of bitcoin, I think I'm satisfied with what I have so far. At this point that's when you think of diversification. I think that's what @Zack5000 meant when he used the word satisfied. If you have gotten to this level, you can channel the extra money that's coming your way into construction, Transportation or any other business you deem fit.
Not that you are satisfied with making money rather you want to get into other forms of investments. Let take Elon musk as an example, he invested in bitcoin, Tesla, X (Formerly known as Twitter) internet service (Star link) he has positioned himself very well and profits are coming from different angles.

Judging by what you are saying that one shouldn't be satisfied with bitcoin investment, Elon musk should have sold off his other assets and only focus in bitcoin investment. So it's not wrong for someone to say he/she has gotten to a point where they feels satisfied with their bitcoin portfolio and seek other avenues to diversify their investments. Even in economics portfolio diversification is very important, so don't be confused when you hear people say they are satisfied with their bitcoin portfolio. It doesn't mean they are tired of making money.

You provably not feel that especially if you planned already that some parts of your earnings will go to bitcoin investment. Also I cannot call it a temporary lose since your money is just their setting down on your wallet. So for not having any doubts much better to check your decisions first if you are really ready to invest on bitcoin for long term so that there will be no other distraction and you can focus your accumulation. You cannot do the DCA well if you are been bothered or not been satisfied so we need to focus on our investment and think more positive outcome from it. Also don't invest your hard earned money especially if you can't afford to lose it just use the extra one so to avoid getting much affected on the market movement since we know market is so volatile that's why we need to prepare our emotions for this scene.

This depends on individuals otherwise whatever amount we had accumulated might not serve us in our life-time therefore we can be touched to accumulate more, although we might stop at some point because comparing to the previous year when buying bitcoin at cheaper rate and with the current rate that investor might feels pleased to keep accumulating anymore.
I think you are correct because the price differences could discourage him to stop accumulation instead focused on his holding and and job, sometimes he might decides to run a physical business where he wouldn't touched his investment rather focused on running business.

You could be right because most times human needs is insatiable that is why sometimes when an investor has not really arrived at his targeted point they will be having the mindset that immediately they get to that particular point they will hold but however you will be surprising to see that even after achieving there goal they will not really be satisfied and as such they will keep pushing to acquire more, which is also applicable in Bitcoin investment because with the potential of Bitcoin it will be very difficult to be satisfied with the amount you have already accumulated because in one way or another you would always find the need to acquire more Bitcoin especially when the source of income is flowing you will always keep investing.

At first I won't consider that has loss, it can only be loss if one literally sells his investment in loss during a dip , that's why is better to use that opportunity to accumulate and hodl Bitcoin. We can't just expect the price to be going up only, surely they will be some dip as time goes due to volatility. And yeah when it comes to holding is better to use money that you can stay without using for long , like forgetting that you have such amount of money invested in Bitcoin. Because if one endup using money that's meant for certain expenses he or she may endup messing up Their holding, like selling it at the wrong time or using it to take care of some expenses.

Hahaha...Your advice is so funny to me and it is highly unprofessional, to say the least. Are you telling me that we should buy Bitcoin at both favourable and unfotable prices? That's the way I see it with your advice. If I may ask you, do you know the reason why Bitcoin has not pushed its current ATH of about $73,850 through ever since despite the high adoption and awareness about it? The reason is simple, the high net worth individuals and companies that will commit their money to it at a very high level are rare.

This is because it is risky at this time and it is against their principle of investment, which is very reasonable. You see, investment has its own guidelines and principles for effective productivity so we should not due to Bitcoin ignore it. If we did, then it may become an issue over time. Fine, Bitcoin might have reached a very high price in the next 10 years, but how sure are you? This is why we need to be cautious no matter how we are trusting about it. For this, continuous buying of Bitcoin at any price as you said is so faulty, however, what I know in investment is DCA, and if done rightly, we will not regret it. But this should not be done without extra viable plans.

Investing in valuable assets like Bitcoin is a great approach and comes with the conviction of  success. Why will an investor have a temporary feeling of uncertainty or lack of conviction in putting their money in valuable assets (Bitcoin), unless they don't know the purpose of their investments. Investing in valuable assets and one with potentials like Bitcoin is source of pleasure, after putting your money in such asset (Bitcoin) and picturing what you stands to benefit ahead comes with a lot of excitement that's what triggers us to invest in it. Bitcoin history has shown a consistent upwards trend over the years, However so long as your perspective and intentions is to Buy and Hold for long-term there is no need to have doubt or feel loss at any moment.  Our main concern in Bitcoin should be our consistency level in accumulating Bitcoin  over the long period ahead to yield good investment.

If we can naturally accept the fact that after investing in Bitcoin and holding that investment we may experience a temporary loss of money, then we will certainly not hesitate to hold Bitcoin. I have invested the market has changed a bit and if that affects us then surely we will not be able to hold our investment for a long time. You have to forget the illusion of the amount of money that you have invested and the amount of money that you will invest regularly and you have to assume that this money is fully deducted from your total money. The invested money will not be of any use to you, you don't care if you gain or lose, if you can plan like this, you will be successful in keeping your investment for a long time.

Here's the link that shows the amount of 133 BTC accumulated from early 2013 to early 2022 with around $47k invested at $100 per week. https://dcabtc.com?sd=2013-01-01&sda=custom&f=weekly&d=9_years&ac=10000&c=true

I don't buy it.

I think that at some point people have enough BTC, so you can imagine all that you want about people not having enough, but there surely are ways to live quite well off of 133 BTC, especially if your earlier standard of living had been around $100k per year... and you could give up your job and largely start to draw that same amount of income or more income than that each year and likely into perpetuity including accounting for increases in the cost of living and/or the likely ongoing and seemingly inevitable debasement of the dollar and other fiat currencies.

Currently, 133 BTC has a spot price of nearly $9 million and a 200 WMA price (which I believe to be more important of nearly $5 million.

https://bitcoindata.science/withdrawal-strategy

There is likely merely a need to think a bit more realistically in terms of not needing to have to work and still earn similar or more income than you are actually earning.. People maybe fantasize , but they actually don't have such 133 BTC or whatever other amount that I am suggesting should be enough based on already existing lifestyle and ability to maintain such lifestyle including potentially better with merely living off of their BTC at a reasonably sustainable withdrawal rate .. and whether there is still a need to continue to earn income and buy more bitcoin seems a bit of a fantasy way of thinking about the situation of someone else to me in terms of proclaiming no one is ever satisfied with being able to start to live off of their bitcoin rather than having an ongoing feeling of needing to continue to accumulate more BTC... yeah some people are never satisfied.. yet that does not mean that they should  not be able to live well with bitcoin, even the example that I gave...and there are a lot of similar examples that I could give in which "enough" BTC has likely been achieved given the person's past lifestyle situation and even possible expectations to live similarly, to improve and/or to account for inflation/debasement of the dollar and other fiats.

Demand is inexhaustible, if everyone has bitcoins in their wallets everyone will be more in demand and will take initiative to accumulate more bitcoins. You notice that people who have accumulated bitcoins in the past are enthusiastic enough to still accumulate in the present, because that person must have understood the joy inside of accumulating bitcoins. 
The higher the income in a person's life, the more basic needs will increase in his life, so a person is busy with various activities in addition to his job. And I think it's normal for that place to be busy with Bitcoin, because the more busy with Bitcoin, the more successful that person is. 
Of course, if we look at 2012, 2013, 2014, 2015, we can know all the details.

You seem to be talking about potential personality problems that some people might have in terms of never having enough.

Let's say that you had an income of about $50k in early 2013, and so in the beginning or 2013, you started accumulating around $100 per week of bitcoin, and so you kept your job, and so you don't consider after some point you are going to feel that you have enough BTC?  After 9 years from early 2013 to early 2022, you had invested right around $47k and you had accumulated nearly 133 BTC.  Wouldn't you start to feel that you have enough BTC at some point?  or do you still need more?  Even if your income doubled from $50k in 2013 to $100k in 2022, don't you consider at some point you have enough BTC to start to withdraw and maybe you don't need your $100k job if you have enough BTC to provide the same level (or more) income?

A question to ask does someone really feel satisfied while holding Bitcoin? To me I will simply say no because as long as the cash keep flowing you would always want to accumulate enough Bitcoin since bitcoin wallet doesn't have a maximum limit, in as much as your income keep flowing and you apply DCA method then you can never be satisfied even though you have about 10,000 BTC once the income keeps coming you will always apply your DCA money to increase your portfolio.

Most people who had thousands of BTC never stop at one or two they keep increasing their portfolio through DCA except for those people who are on an average job that pays little that could take time to increase their BTC holding in their portfolio.