Topic: Buy the DIP, and HODL! - page 218. (Read 109046 times)

Before this time I was actually thinking that is a must that every investor most have a steady source of income before venturing into Bitcoin accumulation but I realized that even without having steady income you can still continue to invest on Bitcoin because I have seen someone who has no steady source were income is flowing but based on how his plan on investment on Bitcoin is, he has consistently accumulating Bitcoin till now without tempering his investment, so actually he explains how he has been able to continue or consistently investing on Bitcoin, so according to him he mentioned that truly he doesn't have a steady source of income but that he has other side hustling were they use to hire him sometimes so from there he was able to strategize himself to consistently investing on Bitcoin using the normal DCA , although he mentioned that do to how inconsistent the work is most time he doesn't meet up his weekly accumulation so most times he accumulate on monthly. So after his explanation I realized that with a proper planing anybody can invest on Bitcoin because if someone should wait until his portfolio is filled with money before they could start investing on Bitcoin, at the end they may likely not going to be partakers of Bitcoin.

 You make it look very easy, when it is not true. Diversifying into altcoins is the wrong decision any investor will make, and it will cost him great losses. There is no way that you can know the price movement of altcoins, talk more of knowing any trick in which you will use to make multiple profits from altcoins when they don't have future.

You sound more unreal in investing, and choose to prefer going into gambling, because in bitcoin investment there is no trick of making profit rather than regular DCA, amd hodli for a long period of time, which needs sacrifice, discipline and self determination to reach your bitcoin target. Investing is altcoins even if you think that you are smart, will lead to frustration and loss, but investing in bitcoin will lead you to success if done the right way. Bitcoin is the king, so dine and wine with the king by investing in bitcoin and hodli for long.

@Ludmilla_ rose1995 I don't buy the ideas of involving in Altcoins and your are totally wrong with your idealogy, firstly they don't have any future potential and it has no accuracy of which there is so much high risk level associated to it, very complex even to old and experienced ones and most times they have losses. Don't be deceived majority will only talk about it in terms of when they have make profit but will not talk about there losses that is one funny thing about it but however it is your choice if that is what  you want. Fuck altcoins, fuck shit coins.

For me if you have your weekly allocation that you use to buy your bitcoin I don't think the bullish market condition will disturb or stop you from buying your bitcoin. That's why the DCA method talks about investing a fixed amount of money on a regular basis as you deem fit and not about buying a fixed amount of bitcoin on a regular basis. If we were to buy a fixed amount of bitcoin weekly only then will the bullish market affect our buy, because the price we bought last week might have changed to a higher price and this will impact on our budget. But since it's about investing a fixed amount of money weekly or as it's convenient to the investor we can always invest. If we say let's wait for market to come down, we don't know how long we are going to wait, and in the course of waiting we will have divided attention and other things which will take the money will come up.

I have accumulated bitcoins as per my ability and it is enough for me. It's a pittance to them but a mountain to me because I've accumulated bitcoins deposited using the DCA method. I deposited bitcoins every week during my 13 months, so you can imagine that I have enough bitcoins to deposit. So I put aside thinking about the benefits because my insider can work, and because of greed I sell bitcoins so I am deprived of such thoughts.  Because of which I don't worry about the profit of my portfolio. I learned that recovery is very easy when investing in Bitcoin.

Contrarily, is best you have either income or side amount of savings  or other investment that is greater than your expenses in other to be able to invest, if such plans has not been made and there is no access to that  then you are more gambling  rather than investing because there is no certainty of you keeping up with your investment.



I will always considere@jjg's advice that if diversification should be considered it should be that you are far gone in your accumulation process and when considering diversification it is best you spread out on different asset classes that are not related, such as selling commodities, lands, golds based on your financial ability, fuck altcoins, fuck shit coins, I wonder why you could talk about it like you can  even boost of any, mean while their performance solely depends on Bitcoin, it is never a good advice to involve in Altcoins or shit coins or whatever you may call it. if you are involved in such is best you keep it to yourself or there are better board or thread to discuss about that, the emotional devastation I saw those in it going through is not something I will advice anyone to get involve with,  but with Bitcoin and your right investment strategies you have the peace of mind needed to grow your asset.






I would rather say the more Bitcoin you have and the longer term your investment is the more benefits will be earned.

Indeed, everyone has their own concept or strategy, and for me, as long as it is aimed at the long term then it is the right choice for Bitcoin.
And I treat Bitcoin like a beautiful tree or flower, I mean. DCA is the same as when we care for trees or flowers that have value and also treat them with great affection, and we will also care for them well. And the most important thing is to provide fertilizer regularly so that the tree or flower continues to grow tall and strong, and produces more beautiful flowers and will make the tree or fruit have a higher value if we sell it.
And even if the tree or flowers are expensive. I will continue to care for it and apply fertilizer so that it grows taller and produces more flowers, until the tree and its flowers grow old and I will cut it down to harvest and make a lot of money.
So I assess the concept of Bitcoin logic as such, and it's just something that I think is easy to understand and makes sense. And I told the concept of DCA on Bitcoin to some friends, family members like that and it was very simple and also got them interested because it made sense.
So keep buying Bitcoin regularly a week, two weeks or a month and this is the same as continuing to provide fertilizer regularly so that the tree or flower becomes tall and produces lots of flowers. And when the price of Bitcoin is high, or the tree already has a high price value, then we have to keep holding or caring for it. The goal is for Bitcoin or the tree to reach a very high price or the tree to become very old and produce lots of flowers to sell or harvest and make a lot of money. This is caused by the patience and strength to resist temptation even though Bitcoin or the tree has produced large profits or value because they still feel unsatisfied, and continue to hold it and provide fertilizer regularly so that the Bitcoin or tree becomes higher in price, and will sell it when we already feel satisfied and fit and make a lot of money.

I hope you understand what I mean, because it's easier to say it directly than to write it down like I did to them and they really understand it.

Yeah, your right. I think the main reason they are fucking buying those shitcoins is because they want to diversify there portfolio. But i dont know what sort of idea is that an investor would have to take profits from his bitcoin investment, thereby tempering his investment at this early stage The best way to keep gains and increase profits is by buying back into bitcoin. Although not everyone understands how to approach cryptocurrency during this period,.

A good and proven strategy i when you make profits and choose to take them, whether in bitcoin or not, and invest them in bitcoin through DCA. This is the best practice to keep your money safe and growing. With time, you will make life-changing profits that will change your financial life completely.

Thanks for the calrity sir JJG looking forward to continue learning more from you and other users in this forum, and you are actually right that each person need to try to consider for himself, well as for me I don't think I would consider diversifying yet. I got some point I need to hit in my bitcoin accumulation before thinking of diversifying and same time accumulating bitcoin.

@finepoine0 the way you sounded is like you have stop accumulating, yeah is true that due to the recent movement those that are being holding are in profit also with those of us that started months ago. That shouldn't stop us from accumulating more quantity of bitcoin in our portfolio. Because I know you guys are aware that we are in profit due to the increase in value bitcoin undergo recently so our bitcoin quantities we have accumulated is still the same, but as increase in value as well, as bitcoin increase in value. So we should still try to continue our DCAing to help us increase our bitcoin in our portfolio , because due to the time you started your accumulation, I'm not sure if you have been able to accumulate enough in your portfolio with such short period.

those who like to move to altcoins when they make a profit from selling bitcoin are not worthy of being called a holder, they only make profits from using bitcoin as a means, some whales actually use this method to pump several altcoins in a structured manner

This is also a good way to get multiple profits in the future, with good accuracy and timeliness, this trick can definitely be carried out well and without making any losses

Through more years, there are more possibilities of compounding value, when then can put a person in a place where they are able to either live off their bitcoin or to greatly supplement their income and they are ONLY selling small portions of their bitcoin on a monthly or perhaps some other kind of timeline in which they choose to withdraw some of the value from BTC and convert it into their currency and/or make purchases with it..   

So one thing is getting the stash to a large enough level that it starts to have meaning, and the other thing is being in profits and how much in profits, and even if a person might make it through more than a whole cycle, he might be able to consider continuing to mostly accumulate and maybe not having any desperate need to withdraw any value from his holdings until a bit of time has passed, maybe even a couple of cycles or more.

There are some guys willing to accept that they may well be into fairly heavy BTC accumulation for 10 years or more and then maybe to reassess their situation after going through that level of BTC accumulation, which also is likely to mean that their average cost per BTC is likely going to continue to go up, especially if the BTC prices are mostly going up and there is no real expectation of being able to buy on dips, if dips may or may not end up happening from any given price point...even though in retrospect we can see that the last couple of years had been a dip, and some folks did not realize that it was a dip, even though the presence of the dip should have had been fairly obvious.


It sounds as if you have stopped accumulating bitcoin FinePoine0.  So does that mean that you have enough bitcoin?

You are not free from the trading mentality if you believe that buying and just sitting on it is going to be enough, and it sounds like you are just considering the point in which you are going to sell.. which also is not a long term commitment...

So yeah if you stopped buying, then you have already likely been losing opportunities because maybe you are either presuming the price is going to come down or you are planning to sell when the BTC price goes up, and then where is that going to put you?  Are you going to be better off in the long term or just some short term pleasure that you were able to get from "buying low and selling high?" which is also known as trading.


There is no need to diversify into shitcoins. 

That is nonsense.

Now if you build up your BTC holdings, you might start out just by only building your BTC and your cash, and at some point you might want to consider whether it would be better for you to diversify your investment into other kinds of investments besides dollars and cash (perhaps property, stocks, bonds, commodities and/or cash equivalents), but that does not mean that you would need to get involved in shitcoins at all or that it would be helpful (rather than a waste of time, energy and money) to get involved in shitcoins..


You don't have to reach fuck you status prior to considering diversification, and so each person needs to try to consider for himself how comfortable he is with ONLY having exposure to bitcoin and cash, and there may be some advantage to having some of that cash that is potentially building up in other kinds of assets... .. so when does that trigger?  It will be different for different people.  Some people come to bitcoin and they already have other investments, and I am not even necessarily suggesting that any of the other investments into areas such as property, stocks, bonds, commodities and cash equivalents are going to be very helpful, but sometimes the more that any of us builds up our bitcoin holdings, then the more logical it will be to have some off-sets to that which could be cash, but we might feel that we are too vulnerable if we have 5 years of our salary in bitcoin and 1 or 2 years in cash..

And, so yeah if we are thinking about fuck you status as a possible goal, then that generally would be considered 20-30 years worth of income using something like the 200-WMA for valuation of your BTC holdings rather than using BTC's spot price since BTC's spot price tends to be all over the place.. so we would need to be making a reasonable assessment of the value of our BTC based on the bottom price rather than the current price or any potential top prices, even though if we sell any BTC we are going to be selling at spot price and maybe even trying to sell during points in which the spot price is relatively high based on expectations.. but that is once we get there, so we have to get there first in terms of figuring out how much BTC to accumulate and sometimes if we might want to make sure that we don't have all of our value in just one thing, especially once we might get to a point in which we have several years of our income in bitcoin.. and I cannot say exactly what each person might choose before they start to diversify, even though I know diversification is not needed in the beginning, but some level of diversification could even be started before reaching a whole year's accumulation of value in BTC.. and sometimes those diversified assets/currencies could be part of an emergency fund and/or reserves depending on how liquid they might be.. . but they would be things to sell prior to selling BTC since BTC would likely be considered the main thing to be wanting to accumulate the most so not wanting to prematurely selling any of it..


If you are brand new to bitcoin, you should consider all three options of accumulation: Lump sum , DCA and buy the dip.

If you are investing for several years, you might not want to consider some of the options, but even if you have been buying for 1-2 years, and if you all of a sudden have extra money. .Let's say you get a $3k pay out for something. .then all of a sudden you have $3k.  So how are you going to treat that extra money?  I would think that you would want to consider all three categories, even if you might choose not to employ all three categories.. but the default still might be to put 1/3 into each, but if you think that we are more inclined towards up, then you might want to put more into lump sum in order to better prepare for up, since we cannot know if there is going to be further down.. so maybe you end up deciding to put 60% or 70% into lump sum and then divide the remaining part into buying on dips and DCA.


You can also try to figure out ways to increase your income.


Waiting or even lowering your DCA amount may not be a great idea, especially if you already determined that you don't have enough BTC.  Yet, for sure, everyone has to make these decisions for themselves, and historically there are a lot of examples of guys reducing the amount of their DCA to wait for dips that never ended up happening, so they end up both screwing up their accumulation but they also screwed up their psychology...so sometimes it is better to just keep buying, even if your average costs per BTC is going up. 

Also like you seem to suggest, there are ways to keep buying, but ONLY to reserve part of what you would have otherwise used to buy for the possibility for dips.  No one can really say and each of us needs to decide how much to allocate to each  of these areas, especially if we are trying to figure out if we have enough BTC or not.. and how we think we might be able to get more BTC and is it worth it to wait with some of it.. because sometimes it does help to have some money for those dips that come at various points, and they might come rapidly and other times we end up getting stuck back down in a correction zone.. but the question never really goes away concerning how much to buy and when and whether we should preserve some of that (and how much) for the possibility of buying on dips.


Yep, exactly.  There are various levels of needs, and some are more basic and some can be deferred until later and some might be considered wants rather than needs, so we surely would need to know which category of the needs we have to satisfy and which ones might be deferred and which ones we might want to balance out in terms of whether to treat ourselves to some of our wants, and those can be personal choices, yet as you suggested, the more basic the need, the more we are going to get ourselves into trouble if we are using our basic needs money to invest and/or to buy bitcoin.. So in that regard, if we do not have enough income (or other resources) to satisfy our basic needs then we are going to have to satisfy those first. 

By the way, we could also look up Maslow's heirarchy of needs if we want to consider those kinds of ideas about levels of needs.

There is difference between needs and basic needs. Needs is a general term that covers both the basic needs and nonbasic needs. Basic needs are those things that you must have, they are mandatory to have and if you don't have them, your mind cannot be at rest and there is no way you can hold bitcoin under that situation. For example, food is a basic need, while driving luxury cars is not a basic need. You cannot hold a bitcoin portfolio when you are battling with hunger, the safety of that investment is not guaranteed because it can be sold anytime the hunger hits the right spots in the stomach.

Before investing in bitcoin, it is mandatory that the basic needs must be met and some funds even set aside as reserve incase of any emergency. Not that you cannot buy bitcoin when basic needs have not been met but calling yourself a long term holder of bitcoin when you have not sorted your basic needs is like self deceit because it will not work. We are advocating for ways people can better invest and hold bitcoin and the suggestion of basic needs and emergency funds is just one of them

The percentage of salary to allocate to bitcoin investment will vary per individual and will also depend if one is well paid or underpaid. For most jobs in my neighborhood where the salary is not even enough for basic needs, investing in bitcoin will be very difficult.

I use the DCA method to accumulate Bitcoin every two weeks, so in this case I want to tell you that we really don't think about the price when we buy Bitcoin. Why, because we buy regularly so we will find an average entry price when we are satisfied with our BTC holdings.

Yes, it's up to them to interpret whatever they want in this bullish condition, but in my opinion we still prioritize the term Buy and Hold in our investment journey. For this reason, continue to stick to our respective concepts, where if you think that this bullsih condition is disturbing your concerns about buying Bitcoin, then you can wait for the price to fall to be able to accumulate Bitcoin.

Yeah! It's  true that your income must overflow your your expenses and budgets.
If this is not achieved then some measures  could be taken like

Reduce your outflows
Avoid  spending extravagantly
Setting up scale of preference as some can be forgone(or brought down to a new budget list )to come up with a DCA target
Avoiding deficit buget

With these, there should be something  for ones DCA

The income should be more than the demand, and if the income is not high, how can you think about DCA?
If the income is not more than the demand, how will you meet the basic of the family... First of all you have to keep our family well and then something else.
At the end of the month you can invest your extra money invest in DCA you want but you have to keep the needs of the family in mind first, in this case you can reduce some extra expenses. you have to stick to a atlest DCA target amount that is 10% or more, it's depend on your income.

I don't think this is the best time to use this term BUY THE DIP AND HODL!. This is because we are not in the dip, and we are in the bull market, because bitcoin has passed the previous ATH. What should be said now is DCA AND HODL!, because at the current bitcoin price, it is only DCA that is the best strategy in which some accumulating bitcoin can use to increase his bitcoin portfolio due to the high price of bitcoin.

I would not even lump sum if I have the money to do that, because bitcoin price go into correction, so DCA regularly either weekly or monthly and hodli for a very long time, and when the bear market appears again, you can buy dip and hodli. However, this is my personal thoughts that I am sharing, and we all have the right to do whatever we think is best for us, but you will be responsible for your own actions.

This idea is wrong from my perspective, I don't know for other members but I personally can't go for diversification cause I have not accumulated much and from what I learnt here from JJG, before thinking of diversification of an asset you should build your bitcoin portfolio first and secondly why going for an    uncertain investment choice (shitcoins) if thinking about altcoins I will advice you investment in bitcoin only and build gradually in terms of knowledge and accumulation rather than diversification, learning about altcoins although no one can fully go into bitcoin investment but rather there's an average percentage when it comes to our accumulation choice. secondly this thread is meant for bitcoin accumulation only, let's not make the thread look like a combination of altcoins and bitcoin discussion cause I have seen several members coming here to discuss about altcoins.

We can say altcoins are gambling coins and bitcoin is a fixed asset. It is entirely up to the investor which direction to take. Although some altcoins have the potential to gain money due to major pumping events, some altcoins can lose at any time. Investors who have lost investing in altcoins will understand the value of Bitcoin. There are many coins other than Bitcoin in the coin market cap, how can an investor be risk free about his investment? Investing in Bitcoin is also risky but long-term investment based on potential can certainly keep a holder relatively risk-free. When it comes to investing, an investor must make the best investment as possible.

If we look at the Bitcoin price in 2017, it was unbelievable that Bitcoin would reach $70,000 after 4 years. Again, if Bitcoin is predicted to reach 1 million in the next few years, it will not be believable. But Bitcoin will eventually reach that position slowly. Those who have purchased train tickets may be able to board the train and those who haven't may never reach their destination.

at first try as possible to accumulate some good quantity of bitcoin or hit your accumulation goal before having the thought of diversificating , because you diversificating now would reduce your accumulation of bitcoin , due to the process of sharing your funds in different investment in the name of diversificating. And you thinking diversificating in altcoins (shit coins) ain't a smart move at all because the risk attached is just too much , because most shitcoins are just pump and dump project and your funds may endup dumping with it. So after reaching your fuck you status (your bitcoin accumulation goal) as sir JJG normally refers to it . You can think of diversifying but not in altcoins but some good investment outside this space that you know the risk ain't that high and can still yield some good ROI.

You are not giving out a good advice on investing in bitcoin. When a newbie is investing in bitcoin, he should only stay focus on bitcoin and forget about altcoins. This is because investing in altcoins is a waste of time, and will make you lose focus on your bitcoin investment journey, since they are used for pump and dump. They don't have the potential to give profit in long term but losses. I don't see altcoins as an investment, rather I see it as gambling. You are talking about diversification, when you don't understand what it means. Any bitcoin investor that want to diversify can do that when he feels that he has acquired enough bitcoin or 70% of his bitcoin that, because he feels that he has invested so much on bitcoin and want to invest in other asset. When you are diversifying, you don't diversify into similar investment, like altcoins, because bitcoin price controls all other cryptocurrency. You should diversify into a different asset, like properties, stock, bond, real estate. So that if one of your assets is not doing weel as expected, the other one can balance up.