Topic: Buy the DIP, and HODL! - page 216. (Read 109046 times)

The DCA method is one of the most convenient ways to invest in Bitcoin.
 DCA method is best to control the investment according to Bitcoin price no matter how big the investment. And because current market prices are high, don't stop investing from DCA method as regular DCA method will save you 10 to 15% on average price. And invest in Bitcoin for the long term. The future of Bitcoin is very good because you can calm yourself down by looking at the current price.

Using DCA strategies in shit can be damn risky, just as sir JJG said they are not long term investments that have any fundamental and/or long term value. like that of bitcoin. And you aware that when using DCA strategies to accumulate, you gathering alot of quantity in your DCA strategies and don't forget more your accumulation (number quanties you have Accumulated) more effective the   price movement ( either increase or decrease in price)  would influence your holding . Life for example one for as victim using DCA to invest on shitcoins thinking they have high potential to keep increasing in value. But at the end that particular shitcoin experience a great dip your losses would be much due to the quantities you have stash in your portfolio and most time there's high chances that it  won't bounce back. So if you are planning to use DCA and the other strategies in accumulation. Make sure you are planning to use it to accumulate bitcoin , not shit coins,  so  don't be decieved .

I get what you are trying to say. Yes analyzing different strategies without actually taking action to buy is bad, and it doesn't profit any one. However for those that analyze strategies and still take action on buying, they are making use of the best strategy that's available. Everything in life have a technique of doing it. And if you neglect those procedures or methods it might come back hitting at you. When you talk about the average guys out there succeeding without following rules you are wrong there. All you see is their success and not behind scenes. The efforts they have made and the procedures and techniques they followed. There many success stories here about people who followed the methods that have been taught here and succeeded in their accumulations. If you happen to come across those average guys that have succeeded, ask them if they actually followed any methods and if they are truthful enough to tell you their stories you will find out they are either following one of the methods that has been thought here regularly.

Good recommend from you.

Indeed, during big day, our budget absorption is usually greater than usual, but if there is other income that supports this, this is quite helpful and does not interfere with the DCA investment pattern and it will be fine.

Yes. "Pressure" and that is one of the reasons why many people fail in investing in trying to consistently buy BTC using the DCA method because many cannot set it properly and correctly, even though budget limitations are one of the common reasons heard.

you're right. Events like Eid-fitri is a yearly occurrence that can easily be planned for such that it wouldn't affect our Bitcoin accumulation schedule. Eid-fitri is even not an emergency situation which if it is, our emergency fund would have still sorted it out for us. It's something you've probably done over and over again in the past and can always find a way to save up a special amount for.

One of the most important thing that saving and investing teaches us is how to effectively plan ahead of time and meticulously set out a portion of our earning into meeting our future demands. Reducing your accumulation pace for a while so as to solve some pressing issues isn't totally out of place as long as you will continue accumulating after sorting yourself out but it only gets bad when you allow celebration and ceremonies to eat up all your investments plan and put you in a situation where you might possibly become tempted to sell off your holdings for the momentory celebration.

For one, this thread is about bitcoin and not shitcoins, and secondly, DCA does not work with shitcoins because they are not long term investments that have any fundamental and/or long term value.

DCA tends to apply quite well for bitcoin and/or long term investments bacuase it allows you to build your position over many years 4-10 years or longer. 

Of course, if you are still in your accumulation stage, you can supplement your accumulation with buying on dips and also lump sum investing, and so only you can figure out which accumulation methods to apply and when you might consider yourself to no longer be in accumulation stage... and yeah, a lot of newbies might have chances to build their investment into bitcoin over 4-10 years or longer, and they likely end up selling too much too soon and then likely putting themselves into a worse place than if they had just focused on accumulating through the varying buying techniques rather than selling, trading and/or gambling with their investment.. in such a great and powerful (and option providing) asset, such as bitcoin.

Ordinary investors deposit shitcoins in the bank for a fixed period of time and got 5% profit on principle amount.... is it sufficient ? But what if we were to invest in bitcoin! How profitable it would have been ! Actually there are many people around me who are investing in shitcoins. DCA is a method that is flexible for everyone, it does not put any pressure on the investor. Because of DCA investors like us are stuck in bitcoin. I look at our portfolio at least once a day and am excited. We want to increase the size of the store, for this we need to increase the savings, the sale should be excluded for the time being

I put your original post (bolded above) back into this discussion, since it seems that: 1) you are overly concerned about your profits and/or your short-term ability to be able to sell bitcoin at a profit, which also the lower that you buy the bitcoin then the more potential that you would be able to sell at a profit.  2) You also seem to believe that trading shitcoins is a good idea to get you more bitcoin.

Both of your ideas seem quite a bit short-sighted, and probably one of the best things that you would be able to do is to get a job or maybe more than one job and earn enough money that you can buy bitcoin and perhaps even buy a lot of bitcoin on a regular basis, and so maybe after 4-6 years, you can reassess if you have gotten enough bitcoin that you are able to have more options... Another thing that you can do is to figure out if you might be able to cut some of your expenses, yet probably more important is figuring out ways to earn more money to be able to buy bitcoin, and I question whether getting involved in shitcoins is a good idea in order to be able to earn more money than you might earn from a regular job or even getting some side job or increasing your hours of work at your current job. 

As a general proposition, if you are busy trying to time the market and waiting for dips or even getting involved in shitcoins you are probably wasting time and/or money.  Perhaps the only exception would be if you are in a location in which salaries (wages) are so low that you would be able to make more money by trading shitcoins than you would make in regular jobs... but you still would need some amount of capital to put at risk when you are doing some of the trading.. and so trading takes a lot of practice, and frequently you will need to use capital (potentially even your bitcoin capital) to be able to make money. which usually would not be a good idea to be putting BTC capital at risk, so then you may well just be creating an illusion of profits than actually how many profits that are actually making through trading shitcoins.   

At the same time, you might be able to make better money by just increasing your salary and/or wages, and increasing your investment into bitcoin on a regular basis no matter what the price of bitcoin might be while you are building your BTC stash.... especially for your first whole cycle in bitcoin and maybe even longer than a whole cycle depending upon if you had been able to bring other capital to bitcoin or if you might be building your bitcoin investment from scratch, meaning that you don't have any other investments.

Now in my writing of this post, I decided to look at your forum profile and registration date, and so I see that you have some kind of alt coin distraction already that you have an altcoin website on there... so you might already be a lost cause in that you do not recognize and/or appreciate the value of bitcoin and so you are fucking around with shitcoins and distracted into them...

so... let me just mention that if you had started investing into bitcoin at $100 per week since your forum registration date, then you would have invested right around $34,200 and you would have had accumulated 2.9473 BTC (current value of $212k, so decently in profits in comparison to the amount invested).  Of course you can adjust the amount to whatever your own budget would have had been over the past 6.5 years, and you can also consider whatever you have been doing in terms of shitcoins and consider whether you are at least performing close to the same or better than a strict BTC accumulation practice that would amount to DCA investing..    I doubt that you have better results, and especially results that are repeatable for other normal people who might not have time to fuck around figuring out which shitcoin to get involved in.


I agree with everything that you are saying Odohu, yet I think that it might be misleading to suggest that an emergency fund should be used for regular variations in income, which maybe if we might be thinking about emergency fund as also covering our reserves and our monthly float, so we likely would not be taking from our emergency fund to invest in bitcoin, but we may well be taking from our reserves... .. And the overall idea of investing into bitcoin regularly remains important for beginners because it can take such a long time to build up the size of your bitcoin stash, and so we have to spend years and years and years building up our stash, so then maybe after a whole cycle, or maybe even two cycles, we might start to feel that we have more options since we at least have our bitcoin stash built up and yeah maybe it cost us more to build it up than we could have gotten lucky and bought on fewer dips... but there is hardly any way to know how much to hold back for buying on dips, so we are likely better off to just be consistent, persistent and ongoing in our stacking of sats until at some point the size of our BTC stash and it's dollar value compared to other assets that we have and our annual income (or our expenses) is going to help to inform us to the extent to which we might want to start to switch away from a strict ongoing BTC accumulation practice and into a bit more of a modified BTC accumulation practice.

Effective way to invest in Bitcoin requires that you set aside emergency funds for any emergency spending you might encounter. If you have such arrangement in place, this Eid Al-Fitr will not make you reduce your investment or adjust your investment schedule because the emergency funds would have taken care of that. Going forward, I strongly recommend you setting up emergency funds because it will help you with events like the one that is happening now.

I learnt about the emergency fund aspect of investing from this thread and it has helped me a lot in that it makes me never worried or anxious of selling because all the basic things I need are sorted and there is no pressure on the investment whatsoever.

yes, that's what I meant. because I myself once thought, wouldn't it be better if I bought bitcoin when the price was down. or at least you can make a profit for the next 24 hours.
because even though I use the DCA method, I still sometimes look at the last candle and price. although it is not influenced to sell previous assets when prices fall.

For almost the last month, Bitcoin has continued to experience price increases that are even difficult for most people to determine the DIP price, although it is still quite possible to continue using the DCA method for long-term investment in Bitcoin. I think now there are many Bitcoin investors who are very enthusiastic about continuing to invest in Bitcoin after seeing the increase in Bitcoin prices which has made a new ATH of all time as an unusual history in Bitcoin. So don't wait to invest in Bitcoin as long as you have the ability to do so, either by DCA or by other means.

 I got your point, the emphasis was that you must not have a steady income flow before you invest in Bitcoin, but you need to have an income that is more than your expenses whichever way you have the income it must not be steady but you should be able to take care of your needs and strive not to sell your investment in other to take care of your needs.

I get your point but putting strategies I place and finding out the best plan or pattern that has helped us the most is not such a waste of time, the only problem here is that people tend to get stuck in this stage of trying to plan thigns out just because they are trying to do it perfectly.

I most cases I would say to start your investment journey should come first before trying to get all those plans right and moreover the DCA strategy doesn't involve any rocket science it's just buying and buying consistently, and this should help newbies get acquitted with the process and later on they can start building other strategies.

From his explanation, what I got from it is that the person is not on any job that pays him on a weekly or monthly basis, rather his job is on contract basis of which whenever his services are required he will be called upon. Yeah there are some craft men or artisans who only get money when they are being haired for work. This is not the same as those who are on government or company pay roll or are gainfully employed. These set of people can usually make a lot of money on a particular job they get and most times their pay from a single job can be 3x the money someone who is earning monthly salary gets in a month. So with this you can always settle bills as one can easily be hired for numerous jobs within a month. This way such person can still pay bills and invest in bitcoin. The excuse that some people gives when interacting with them on why they don't own bitcoin, they will tell you they don't have a paid job. But some of them are actually making money more than those living on a monthly pay cheque. Like he said earlier investment is about mindset and not about how much you earn.

Yes we need a source of income to make investment, what @Salahmu said was, he thought it was only those that have a weekly or monthly flow of income that can invest in bitcoin until he came across someone who invested in bitcoin with his side hustle, which comes up at different intervals. Probably the person is an artisan who get paid whenever he is called for a job, and from the money he makes he still invest in bitcoin. In this case his skill is his source of income.

We all have to be able to prepare well when we want to start investing, we can't just rely on courage alone because in my opinion that is something that is not wise at all. Lita must first fulfill our main needs before starting to invest, we also have to prepare an emergency fund and we can prepare this as we go along with our investment.
If in the future we encounter something difficult that forces us to do everything we can, we can use the emergency money. Because just imagine if we didn't have emergency funds, we would be forced to sell our assets. We are very lucky if we are in a state of profit, but if we are in a state of loss, what we have sacrificed during that time is in vain, well, don't let us feel that way.

Currently we are in the bullish run so I don't know what dip you are talking about.

Are you mentioning the dip that occurs in short time frame like in 24 hour candles? Which is good if you happen to buy at that time but generally who pursue DCA usually invest when they have money which is generally when they recieve their salary so don't wait for the dip if DCA is your primary go to method but as said if there is money sitting in somewhere else then there is no better time to invest then than now.

isn't it strange. How do you even think about buying Bitcoin when you don't have a sustainable source of income? If you don't have a sustainable source of income it's obvious what you need is a job and not an investment. Can you start building a house without any source of income and you think you will manage to figure things out along the way? This can only come from someone that's making mere statements and hasn't faced real responsibility of life heads on.

Anyone that tells you he started investing into Bitcoin without having a source of income is either gambling with the invested money hoping to get quick returns within a short space of time just so he can start up something for himself or he is just blarbing lies and have no holding in his portfolio. Even those that have a sustainable source of income still have to set out some reserve funds from their earning to enable them accumulate effectively without having to face unplanned issues and you think it's going to ba an easy adventure for a person who's still struggling financially?

Let's be realistic and face this as people that are not mere cheap talkers.

Dollar cost averaging (DCA) is the best as a long-term investment plan, with DIP to consider if you have a lump sum of money.If you invest in DIP, it will be of great help in times of crisis. If you have investments elsewhere, you can definitely invest in Bitcoin. It is sure that Bitcoin will benefit you greatly. So called fiat money will give you 5% or 10% profit but bitcoin will give you a lot of profit.

It's okay bro.

There's no need to look at their faces and mock them. Everyone has their own time of selling but they have been happy to sell at that range. While me, I don't have plans yet. I'll hold as much as I can.

Those that have a strong heart and a long term plan for their Bitcoins, we'll just hold and let things happen and come.

I sincerely don't buy this idea, knowning the strategy and buying plans or accessing the asset are mostly done by every investor, like for example, I'm new to the world of bitcoin investment, I will consisder the strategy that suits my income, if my strategy is to buy using the lump sum strategy at first and continue with the dca strategy that's okay. A lot of investors prefer to learn while accumulating, the only problem here is after an investor finish listing out those strategy and then fail to accumulate or rather waiting for the price to decrease is very wrong, the whole thing with your idea sounds like an aggressive move tho. The only problem I get is when people consider the volatility nature of bitcoin as the risk, I see no problem with the volatile nature when a long term plan can handle such risk, fantasy about the price of bitcoin is another thing, price increasing and decreasing or being stable, although alot of investors have seen the price with several experience but still I can't tell about the price, if I try I might end up misleading people.