Topic: Buy the DIP, and HODL! - page 217. (Read 109046 times)

Wait a minute, let me get something out of this.

How do you have an income source that isn’t steady but somehow it’s able to sufficiently cater for all your expenses which wold be regular and continue to grow on you without you having a regular source of income?

Even still, you need this income source to allow you some investment funds to DCA with and still, it’s not a regular income source…

I don’t think it’s possible, we have to face the bitter truth that, you need a regular source of income. A contract or something and that is also one way to ensure you invest in Bitcoin, your able to hold.

You have a point but like I mentioned on my previous post the quest to have steady source of income before starting investing on Bitcoin is actually a wrong narrative because you can actually continue investing on Bitcoin even when you don't have any major source of income and with a proper planning there is no way the person could ran into trouble in the future however even @JayJuanGee made some good contribution concerning this issue that we do not need to have a steady source of income before investing on Bitcoin but that it will be more advisable to have income that will exceed our expenses. Which is very understandable, so irrespective of how source of income is very important but it shouldn't determine our mindset on Bitcoin investment because people who doesn't have much can actually start the Bitcoin journey because they don't need to have a box full of money before they could start but however the only thing they need is to make sure there income is higher than there expenses.

The simple DCA method is to buy bitcoin with a certain target time, be it 2 or 3 years in the future, to make a profit. and is it necessary to time the market when doing DCA? you have to buy when the price is falling or stay on the specified date.
For example, I will invest $10 worth of bitcoin every month on the 1st. Should I buy on that date every month regardless of whether Bitcoin is going up or buy Bitcoin on that month when the price is down, even if it's a little?

Which method do you usually choose for the DCA method? stick to the specified date or buy when the price drops?

But somehow you need to find ways to have income for your financial security and hodl plan will never be successful if you don't have other source since if the hard time came especially on financial aspect  and market dump at the moment for sure this could affect your investment and decision to hodl since you might decide to sell your holding because you don't have anything left in your hands or don't have any choice but to dump since you need money in that time.

That's why setting up an emergency funds is important and also having multiple income streams is needed to  consider so that we are not only good for saying or thinking about its good to hodl but also we can make all of our plan in to reality.

well all the strategy  use in accumulating bitcoin as their role. Like DCA strategy one of the best because it play alot of role in accumulating bitcoin, because it enables one to accumulate bitcoin at any price interval either during the dip or when there's an increase in market , and this same strategy also help one to accumulate alot of quantity of bitcoin in their portfolio with lower-risk path . Lump-sum also has  its role , for example one cannot use lump-sum (going all in at once) strategy when there's a surge in market . That won't no longer look like an investment but as gambling inorder for one to make some short-term profit which kinda risky. But I will say lump-sum strategies would be nice during the dip . One can use lump-sum strategies to buy the dip Acquiring some good quantities for themselves, then they can also back it up with some DCA either monthly, or weekly with the funds gotten from their sources.

Still I understand what you trying to say, one planning on which strategies to use and haven't started accumulating is just waste shows that you ain't ready to start your accumulation (I will say keep on planning while bitcoin keep growing) . That why in this thread most users always advice one to start with DCA strategies to start their bitcoin accumulation, then once  the dip comes, you can also buy  the dip and hodl .

this whole crazy complexities you all consider as strategies before buying Bitcoin seem to me as excuses that's seriously unnecessary. I know it's necessary to make plans based on the resource we have and also ensure that our plans works well for us in the long run but when you overly depend on making bunch of best plans and strategies you end up not getting the right shit in your portfolio.

You know, one of the main reason why some average guy out there is successful and the brilliant fellow that's always trying to get things all perfect before executing his plans fails is because the average guy doesn't spend all his times trying to figures things out before kick starting. He gets the basic and then boom, he goes for it. Our goal is to invest into Bitcoin and maybe if it's even necessary do so with whatever strategy that's best with us but if all you're after is the sourcing after strategies upon strategies without focusing on the real deal which is obviously buying as much as you can, then all your strategies are bunch of shit.

Yes, it is true that dollar cost averaging is a very simple investment method.We all need to have a specific goal to invest in. As long as we are able to reach that specific goal, we should continue to invest. Just like when we invest in bitcoins we need to start investing with a specific goal in mind we need to plan in advance how many years we will be able to continue our investment. Since you are talking about dollar cost averaging method of investing, you can start your investment with any amount whether it is 50 dollars or 100 dollars or 150 dollars.

Whenever we start investing in this method we need to plan for long term so that we can maintain this investment method for long time.If one starts his investment with 50 dollars initially then he may be able to increase the amount of money in his investment later if he has financial solvency.

Regarding not stable monthly or weekly income is not problem with how much dollar accumulate for investing in bitcoin possibility invest weekly or monthly. I think very important about decision want to accumulate keep investing in bitcoin indeed not get stable with salary income, since close ahead of Eid al-Fitr I have smart with spending my income and little reduce for investing in bitcoin but promising for my self one month later will accumulate more fund for investing in bitcoin.
But still don't delay investing in bitcoin during you have side income or weekly income how to get discipline when investing in bitcoin, if some time earn much of payment salary need to spent large amount for investing in bitcoin become our future investment assets, save bitcoin today automatically will save your financial in the future.

The price of bitcoin has increased a lot and the price continues to rise but we have not stopped investing or will not stop seeing the price of bitcoin increase. Let's never think that we won't invest just because we see the value of Bitcoin going up. Since we will invest in DCA investment method, we can invest in Bitcoin at any price level. In the DCA investment method, if the market does some dumping after investing in the first stage and in the next step if the investment can be made again at the lowest level of that dumping and if the market rises again at that time, then a compromise will be formed between the two investments. When there is a compromise between two investments, even if there is a relatively small loss, it will be recovered through the next investment and later the two investments will combine to bring profit to the investor. 

DCA investment strategy is definitely a reliable investment strategy for long-term investment. DCA investment strategy allows investors to invest as they wish and where the amount of risk to investors' money is very low. Before investing, we have to invest by accepting that just as investing can make us gain money, investing can also result in loss of money, and just as we have to hold on to profits, we must hold on to our investment even if there is a temporary loss. If we can hold the investment during these two periods of profit and loss, we can take large profits later on.

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DCA investing has been discussed in this section for a long time and those who post regularly in this section may have read these discussions well. After watching these discussions I believe those who have invested are now making enough profit. I have already invested in Bitcoin but I started investing in DCA investment method when Bitcoin was worth 17 thousand dollars. Since then I have been investing in Bitcoin using the DCA method. Bitcoin price has reached from $15000 to $72000 and between these two prices I have invested a lot of money and I am quite satisfied with my investment profit. I never expected the amount of profit I got from investing. I have made enough profit but I have not sold my investment yet because my goal is to reach $100,000 in Bitcoin and I will sell some amount of Bitcoin when I reach $100,000. If the market is dumping from here then I will not regret and if the market is dumping I will think it is an opportunity for me to get profit again.

There are people who do not have a stable monthly income like normal salaried workers, but they may have a source of income based on projects, seasons or business, so the accumulation can be different a little bit. Maybe they won't buy every day or every week, but will buy when they receive money and buy according to the percentage of income they have. Regardless of whether that source of income is stable or unstable, more or less, it does not affect your purchase of Bitcoin, unless you do not earn income. Not being able to buy every day or every week for people who do not have a stable income can cause them a bit of difficulty as cumulative buying habits are more difficult to establish than for people with a stable income. Too much buying distance can reduce their discipline in buying.

Good point. Some persons go with investment with the idea of a retirement. Like, once you’ve attained certain achievements with your investment, you get the idea that it’s enough and you begin to reap the proceeds.
Well guess what, your investment could crumble, inflation could be the order of the day and some unexpected or unconsidered expenses could come and eat up all you’ve accumulated and estimated to last a lifetime in just a single month. That’s how risky the world we live in could affect us and our plans.
That’s why, it’s always best you don’t have a single stream of income and you keep investing the much you can as you go.

Perhaps 1 Bitcoin might be a short term goal but never a long term goal or a final goal like it’s said in quote. Final goals always tends to be temporal because, these goals where formed or decided based on your current standing and resources of which, would tend small or just not enough as it is with human nature. As you tend to grow and achieve your aims in life, so do you aim higher. That’s how effective your growth could be on your goals. So, goals can’t be final!

those that sold around $50k thinking bitcoin would dumb, I wish I could see the look on their faces seeing bitcoin recent price , now they would be regretting their actions big time . And such moment, when FOMO would be at work. Causing a lot of people gambling with their funds expecially those investing in shit coins inorder to make huge profits, in a short period of time. While are gambling with funds for short-terms profits and same time applying the use of leverages , I would say get ready to get rekt ( lose all funds). Is better to keep hodl without panicky than selling your investment and start using the funds for gambling to make short-term profit. Those that are still holding are different from those that sold Theirs, is principles those are still holding have good principles towards their investment and also believe in bitcoin. While those that sold theirs too early like around $50k lack those principles. Well we just got to keep accumulating and hodl. Because this recent growth is just the beginning.

The price continue to rise so I guess we can't see a dump for now since there are so many people are so hype with current situation that's why maybe its not good for now to wait for a dump or correction to come. But if they could able to wait well its there choice but in this current situation where market is so intense for its upward gains I guess maybe those who continue to doubt will regret their decision for not buying since for sure they continue to doubt once the dump they are waiting for will come since they get afraid again if the dump is continuous and they think about same line bearish trend coming. That's why knowledge is important and good trust on bitcoin so that there hodl plan will happen since if they are not really good or financially prepared well their doubts will continue and they can't execute well their set goals for bitcoin.

Greed will be there for most of the holders now.

Before, the majority have planned that they'd sell if Bitcoin hits $70k. Now that it is more than that, they'd for sure going to be more patient and will set another price before they sell.

This is what happens at most times when Bitcoin's price keeps on pumping. I'd say that just HODL.

Seeing the all time high is indeed a very good thing for those who have accumulated throughout the bear season. It does not matter at which price we bought bitcoin or done the DCA. Everyone who is holding at spot will be in profit and now it is a matter of time on how long people will hold. Some may be more greedy and may not sell easily while other may be fearful and think that the top is near and they should sell.
Remember, there is still a long time for the duration of bitcoin bull market and still this is the time for holding. 

I don't think that is the reason they have, they are ignorant of what shitcoins can do to their finances. If you see the passion and optimism in them when analysing and investing in their chosen shitcoins, you will understand why I said they are ignorant and never learn from experience. Well, history have always repeated itself and that will not change now.

The present bull run have also created so much hype around some shitcoins. Many people are already throwing in good amounts of money into them and it is only a matter of time before we start knowing about the level of losses to scam people have incurred this period.

Investment in BItcoin is always safer and better anytime any day. Those going for shitcoins should be responsible for what happens to their money and should never use their experience to generalise and talk ill about Bitcoin.

Waiting for the price to drop again at this market conditions is not a good sign and doesn't look like that person will make the better side of the good profit of this investment like other early holders would earn. DCA is a strategy that when understood and followed as required, the current price of market wont cause you a lot of concern or make you think twice before investing into bitcoin when you can afford to. The strategy have cut the barrier of having to buy your bitcoins at a very high price but when calculated, your average entry price will be lower than the highest amount you have ever bought bitcoin with. The market is bullish and there is uncertainty of the market to return back to a lower price that a lot would have want to enter the market with again, it is better to start accumulating within a timeframe and when the price drops, you can still get to accumulate more on an a lower price entry.


Taking out from your bitcoin investment and investing in altcoin as diversification of portfolio is the most biggest gamble an investor will do to their funds. Like who does that? Having a safer investment that a return on investment is certain is better than gambling and hoping on a hype or promise that is almost impossible to come around. An investor that have a target towards their bitcoin holding in their portfolio would want to concentrate more on achieving that target and then wait for their investment to hit that target rather than taking out of the unreached target and put into altcoins. Sticking to the strategy of DCA is worthwhile and will have you benefit from your investment at the required time if you trust and be patient with the process.

You seem to be writing a bit in a form of a riddle, so it is not very easy to understand the answer to the clear question regarding whether you are still accumulating BTC. 

My overall sense is that you are, but you are not very clear about it since you continue to talk about your BTC accumulation as something that you did in the past and that you have enough.. except you are not selling blah blah blah..

In other words, you are about as clear as mud..

Which means you probably don't have enough BTC, you likely need to continue to accumulate and then maybe in 4-6 years, let us know where you are at then... but in the meantime, keep accumulating in accordance with your abilities, even if it might seem that every small extra bit of BTC (satoshis) that you buy is only making a small extra bit of difference, over the next 4-6 years or maybe even if your timeline is 10 years or more, then you may well be glad that you continued to accumulate bitcoin rather than stopping after only a short amount of time. 

It is hard to imagine any successful investor who ONLY invested for 13 months and ended up being successful from that.. that seems more  like a fantasy than a reality, even though maybe once in a while there might be those kinds of stories... they are not reflective of the real ways that real people actually end up putting themselves in better financial situations in the real world.


Exactly.  Investing in shitcoins is stupid as fuck, especially when we have an opportunity in the best asset so far known to man, and available to everyone, and getting distracted into shitcoins amounts to retardedness or gullibility and/or distracted mindset...

So anyone who is not able to resist their temptations to gamble and want to invest into shitcoins should at least attempt to do  themselves a favor by limiting their investment into shitcoins to no more than 10% the size of their BTC investment, so at least, they would have put some kind of limit on the level of their dumbness and at the same time potentially satisfied their desires to explore with those gambling products that seems so irresistibly tempting (and that is how they are designed.. to lure in people who don't know any better - and even seemingly smart people get involved in them and involved in persuading you to either invest into their crap or to sell your BTC.. or fail to invest in BTC because you are distracted into seemingly shininess. .and when the shininess wears off, you see that you had been shining a turd).


You do not need to have a steady income to invest in bitcoin, but you do need to have income that exceeds your expenses, and likely if you have a lot of dry spells in your income you either have to stop investing in bitcoin during the dry spells or you could invest with reserves..  .. so merely because someone might have been gambling and doing well with bitcoin investing, all of us should still be striving to exercise good practices so that we never have to sell any of our bitcoin at at time that is anything but our own choosing, and surely we are likely going to be advantaged to be able to hold and invest into bitcoin 4-10 years or more before we even start to consider any practices that involve selling our BTC rather than strictly accumulating. 


I doubt that there is any need for a final goal, but sure I get your point that there are likely easier to reach goals and working up to a longer term goal that might seem difficult to achieve (or maybe even seem impossible to achieve)... .. and so yeah, it is good to keep the various goals in mind and also to readjust from time to time, too... since there could be several differences in your situation 4-6 years later versus when you first established the goals, besides the fact that maybe you had already reached several of the lower level BTC accumulation threshold points.

well is okay,  everyone here have their goal and plans for their investment (bitcoin). Like me I have different goals (of quantity of bitcoin I want to accumulate) till I reach my main goal, inorder to keep up with my progress, well for example some one who have his accumulation goal to be one bitcoin. Expecially for those of us that just started their accumulation of bitcoin not quite long . And to buy one bitcoin recently is expensive for most of us, so inorder to meet such  goal the individual would  need to engage with different strategies in accumulating bitcoin like DCAing and the others,  such individual may have different goals before the main goal which is one bitcoin, so those goals can be 0.01 Btc, 0.05 Btc, 0.1 Btc, 0.5 Btc, then 1Btc (final goal ) respectively. Depending on the individual financial capability and the price of bitcoin. But same person can still continue with his accumulation either with DCA or buying the dip , once in while (not as frequent or aggressive like when one have a goal to hit) ,  So I guess that what you should be doing now .

yeah DCA truly a good strategy in accumulating bitcoin, but using altcoins as an multiplier, won't be nice move , because of the risks in it too much and one may get it self rekt through it.

It's true that the DCA method is very profitable so you can own bitcoin gradually. Even though the profits will not be too big compared to buying when the price is cheap, at least you can still make a profit if you hold Bitcoin for a very long period of time.

Regarding diversification into altcoins, for me it is only a money multiplier which will also return to bitcoin investment.