Topic: Buy the DIP, and HODL! - page 222. (Read 135878 times)

Yes, I agree that I'm still in my accumulation process and with the help of my weekly DCA strategy, I'm doing a consistent accumulation and I'm still learning more about effective bitcoin accumulation and with the help of this thread and contributions from JJG and other members on this Thread, I've been able to learn so much and still learning more on how to have a safe investment.

I didn't know about how important an emergency fund, float and reserve funds, but with knowledge i have have now about those concepts, I'm able detect areas I've been previously encountering problems and difficulties in my Bitcoin accumulation journey and correcting them accordingly, I'm still learning more everyday as learning never ends, at least this is one big thing I've been able to achieve from being a part of this forum and this thread.

About diversification, I wasn't considering diversifying my investment, at least not just yet. I know better than to start thinking about diversification at this stage of my Bitcoin accumulation.

I was merely trying to make a point, which is that for people who have accumulated a good number of Bitcoins and are considering diversification, it'll be a lot more safer to consider investing in assets like Gold and Silver rather shitcoins.

I feel the reason why JJG reacted so is that you are too early in bitcoin accumulation to start thinking of diversifying into silver or Gold. Not actually that those listed diversification are so bad, but talking about diversification when you have not even accumulated much as expected and you are taking of diversification, it is a kind of situation that surely put you in confusion or even considering diversifying into things which should have be a second option rather bringing them up at an initial stage. What you should have been thinking right now is to accumulate more of bitcoin than talking about diversification. Though it is a reply to someone which you where advising, but sometimes advice we gave surely mean another thing in anticipation. What we advise is what we feel or what we are about to do. so sometimes its better we don't even have that thought, if not it will mislead us.

I think you must've misunderstood my point...
I'm not trying to say diversifying from Bitcoin to other assets like gold and silver is an option, let alone being a better option.

No!

No!!

Noooo!!!

All I'm trying to say is that, for those who have indeed accumulated a good number of Bitcoin and are considering diversification, rather than filling their bags with variety of shitcoins which are totally unsafe and highly risky, it would be a lot more preferable and justifiable to even consider investing on real life assets that guarantees the safety of one's finance, and have a good track record or longevity and long-term potentials, but that doesn't mean gold's potential could be compared to Bitcoin, because bitcoin has undoubtedly proven to be the most profitable and safest asset to invest in.

Fuck gold and silver and the idea diversifying.

Figure out your bitcoin plan first, and then maybe if you have accumulated a decent amount of bitcoin, then maybe at some point it might become justifiable to diversify, but talking about diversification into gold and/or silver makes it sound like you are pumping inferior products and trying to compare them to bitcoin when bitcoin is likely in the ballpark of 1000x better then each of them...so no need to discuss any particulars of them or to pump them, especially here in this thread when we are talking about bitcoin.


Your whole post is a bit weird and unclear laijsica, yet it may be worth clarifying that one of the reasons that any of us might consider the possibility that bitcoin could go to zero or to have some kind of a negative rather than a positive performance outcome is so that we temper our investment amount in order to account for those kinds of considerations.

Sure the most aggressive of bitcoin investors might shoot to come closed to investing 100% of their disposable income into bitcoin, and surely there is value in being aggressive, yet at the same time, if they are investing close to 100% of their disposable income into bitcoin for long periods of time, they are likely going to be putting unnecessary and undue stress upon their finances and their psychology, especially since bitcoin is an asymmetric bet to the upside in which investors can lose up to 100% of what they put in, but there are also various great upside scenarios, so even relatively whimpy investors might well end up finding themselves to have had profited quite fantastically from their having had decided to p;ut some level of their disposable income into bitcoin (even if it was a relatively whimpy amount in the 1% to 5% territories.

None of us can decide the balance level for the investment levels of anyone else, so there can be ways to take a reasonably balanced or a somewhat aggressively leaning investment approach to bitcoin, and still maintaining a fair amount of balance and/or enjoyment in life because there is some value to spending some money while you are young rather than completely deferring gratification and neglecting your own psychological and/or social well-being that might sometimes be better off by spending some money while you live rather than completely deferring gratification based on choosing to invest on the high side of aggressiveness into bitcoin.


Yeah of course you can buy any amount of bitcoin that you are able to buy, and so you are correct that some of the current BTC prices are higher than earlier BTC prices, but so what?  Today's prices are still likely going to seem cheap compared to some future prices, so your statement of no longer being able buy BTC at "cheap prices" comes off as somewhat retarded, since it is relative to when and also if someone is brand new to bitcoin, they don't have any choice.  They cannot go back to some earlier date or even go back to last October 2023 and buy BTC below $30k....

Like you suggest, it is quite likely that BTC prices will never go below $30k and we might ONLY be coming to realize that now, but if we did not buy bitcoin back then, we have to decide from today in regards to what we are going to do, and even presuming that BTC prices are going to ever drop below $65k again might be too much of a presumption, especially for a low coiner or even more so for a no coiner.  The only way a no coiner prepares himself for up is by buying bitcoin, and he may as well buy some now rather than waiting for some lower price that might not happen, so as far as the newbie no coiner is concerned, these may well be "cheap" prices, especially since he has no real way to know (except by guessing) that the BTC price might go down from here, but then again, it might not.

So the point about BTC prices are no longer cheap is misleading.. but maybe even irrelevant and even worse could actually be wrong.. since BTC prices may well be as cheap as they are going to get for someone newly coming to BTC right now.


You seem to be overly stating the case Mayor of ogba.. You might not be incorrect, but many folks still need to take some safeguards to preserve their autonomy and privacy with bitcoin, and many folks acquire their bitcoin through KYC avenues, so they might have wallets that they segregate with KYC coins and other wallets that they keep as non-KYC coins, but even those kinds of measures are not easy for anyone to actually consistently employ.. so there are tools still being developed, but such tools still may well need to be learned and widespread, and even some of the ways of interacting directly with other bitcoiners can be stifled in a variety of ways.... with different situations in some countries as compared with other countries.  El Salvador is different from China as from the USA as from England as from Russia as from South Africa (or maybe Nigeria would be a better example) as compared with UAE as compared to Japan as compared with the Phillipines as compared to India as compared with Brazil as compared with Argentina as compared with Mexico or Canada, and I am not even going to claim to know all (or any) of the different options, restrictions or the distinctions available in each of the locations.

I don't see the current price of bitcoin expensive because we are in 2024, and with a high level of inflation compared to early April 2013 when bitcoin price was $100. Even at that time when bitcoin price was $100 a lot of people who had the opportunity to invest in bitcoin ignored it because they believe that bitcoin does not worth their $100 or it is too expensive for $100. The amount of a lambo at 2013 compared to this year is not the same.

In the next ten years from now people will be saying that those investors who invest in bitcoin at $70k are lucky to buy bitcoin cheap, in which they also have the opportunity now but they are still saying that bitcoin price is high. You must not buy a whole bitcoin, but you can invest based on the amount of your discretionary income and do that consistently buying with DCA method regularly weekly or monthly, so that you don't see it as a stress on your income. If you can do it consistently and persistently for 4-10 years, I believe that you will have more than 1btc, perhaps it depends on how much that you are using to buy every week that will determine the size of your portfolio.

Your emergency funds is also very important and make sure that you build it up to 3-6 months because that is what will make you continue accumulating without selling since you already have plans for an emergency that arises. Building a reserve funds is important too so that you can have different means of in which you can handle funds related problems or so that your bitcoin portfolio will be increasing as you keep on accumulating. When bitcoin price was around $25+ last year, it was still high to some people. So what I have come to conclude is that no matter what the price of bitcoin is at that moment, some people will still say it is high

Yea bitcoin price may be too high, but doesn't mean we can not buy some fraction. It is not a must to buy a whole bitcoin as bitcoin could be bought in SATs. I believe you are not a regular poster of this thread otherwise you will know what is called the DCA, lump sum and dip and HODL approach or strategy. Investing as low as $100 in bitcoin should be done in a right approach or when you have know the strategy to invest without overdoing it.

1. Depends on your level of income generation like the amount of salary you receive. If your salary is within the range of $100, you may not be able to Invest that $100 at ago. You must surely figure out a way to divide it in 3 or 4 different part. investing like %20 in bitcoin, setting aside %15 for emergency.  %25  for discretion and %40 for feeding and other purposes. Note this my analysis may differ from your own not necessarily for everyone but just like example because your Level of responsibility may be higher to the extent of using %60 of you salary for feeding to be able to invest in bitcoin freely without touching your btc Investment.
2. You must be consistent and having a long time goal making sure you buy bitcoin every week through DCA for a longer time Horizon which you have programmed. Maybe 4--10years and 20-30years.
3. Always make sure you have a steady income in your reserved to be able to keep accumulating every week in Oder not to sell your HODLings because our fear is not to sell off our bitcoin HODLing while we haven't met our Target.
4. investing in Bitcoin shouldn't be done in a situation that will affect you otherwise know as aggressive investment. A situation where you invest an amount that will affect your investment approach. For example having $100 and investing $80 and managing $20 is surely an agresive investment. Expecially when you don have another source of income from anywhere.

You are correct at Proty; not everyone is holding bitcoin for profit; some people are holding bitcoin because of its self-custodial nature, which makes it powerful. Bitcoin was developed so that people would have 100% control over their money, and no government would tell you how to use your money or decide when you make transactions; they would not spy on you to know how much you are worth, and they would not scrutinize your transactions. With bitcoin, no government financial policy will affect you if you are holding your money in bitcoin.

Unfortunately, at this time we no longer have the opportunity to buy Bitcoin at a cheap price, currently the price of Bitcoin has risen too high. But we can still buy Bitcoin, it doesn't have to be one Bitcoin. At a minimum we can buy Bitcoin with an amount of $100.

You are suggesting that some people invest in bitcoin as a hedge against inflation and not necessarily because of the profits. Even if this may be true, the number of people who put their money in bitcoin as a hedge will be very insignificant. It is possible perhaps some people might take advantage of the fact that inflation in fiat is high whereas bitcoin might present some form of remedy, the primary motivation for every investor in bitcoin is to have their investment grow beyond the amount of money they invested. This is why there is generally some form of excitement among bitcoin investors when price is rising.

I have three purposes for investing in bitcoin and they are: to profit from the investment in the future, as a hedge against inflation because fiat is doom to die with time as we have seen in my country over the past few years, and finally to save my money for the future probably my retirement because I cannot think of any better place to keep my money in. If I had a way of pulling my compulsory pension funds to bitcoin, I would have done that but it is not possible because it is government policy that such funds can only be touched after retirement from active service.

My only consolation is that I am investing part of my salary in bitcoin using monthly DCA method. That way I can still realize something significant before my retirement which is still very long from now.

ROI should be consider first as new investor but should not be the ultimate measure for any investor to invest in what they like, little knowledge is what every Bitcoin investor need, remember there are level of research that can lead to diacouragemnt thats why as an investor what is required of you,  is just the basic knowledge which is the major starting point of an investment.
Bitcoin is a continuous process, no one stop at a point of learning in Bitcoin but what I strongly believe is that many investor has there goals to achieve, it may be long or short term goals and it is left for individual investor to take such decision, despite that Bitcoin dip period is considererd to be the best time to accumulate more Bitcoin,  people are allowed to do whatever they choose to do with their holdings, IMO I will advice that it would have been better for investors to understand the concept of Bitcoin before investing because with this they can be able to decide  whether to go for short or long-term investment.

Using the amount you can afford to lose doesn't necessarily mean that you don't have to apply it to Bitcoin investment. You also have to know that after settling your monthly expenses and putting some funds in your emergency fund box, the remaining is what you can afford to lose because you have settled the necessary things first. Every investment is risky and Bitcoin is not excluded, but Bitcoin is less risky and if you can read my previous comments again, you can see where I said, knowing the difference between Bitcoin investment and trading, he could know one with less risk. Moreover, life is full of risk, and you should know that investments are not excluded whether Bitcoin or not. However, Bitcoin is a safe heaven investment if we apply a kind of strategy called the DCA method and I believe you know about that strategy too. The trading pattern is like buying when low and selling when profits are made, and it's risky that way too, and it doesn't give the trader enough time to buy more, because there are times when Bitcoin price is high and the trader will have to wait until Bitcoin reduced to some certain amount before he/she could buy again, but applying DCA method gives you the ability to buy at all time when you have the money, even when Bitcoin is high in price you could buy and not only wait until it reduces before you buy.


If you have these thoughts on your mind, then you are not ready for the long-term Bitcoin investment. In my opinion, if you are interested in investing in Bitcoin, you don't have to think of the amount you want to make, only pursue the goal and don't settle for the goal. Bitcoin investing is an asset and selling your assets because you have gotten what you want is not a good idea, because the figures you sold today will change to bigger figures in the future. Let's use a house, for example (if you are not dealing in real estate). Building a house is a thing of gradual process, and you might rush the building because it's a physical asset. Then, after building is complete, you sell the house for no reason or for reasons. What's the essence of that? Since Bitcoin investment is not a physical asset, there's no need to sell everything you have gotten (both capital and profits). However, it's only a trader and someone that doesn't know what bitcoin is can only sell his/her assets after making profits. As Bitcoin doesn't end, profits don't stop coming when you are investing for the long term. So my option is that continuous investment is the only goal.

IMHO is that we also need to think about the age at the end of the day because maybe it's okay to do it for the long term like a 10-year span or even more like you said but on the other hand we also have to think about the age that we have because after all the hope is that when we are in investment we want the best in terms of results to support our old age life .

For those who are still at a young age to a certain age which is certainly still productive,  it is certainly not a problem to invest longer as you estimate but for those who come in a condition where for the next few years they will enter retirement time,  a shorter period of about 5 years is not a bad thing because after all, in this case we invest , of course, we want to make our old age/retirement comfortable in terms of finance and do not need to think about anything other than enjoying the rest of the life lived .


As I said in the article that you did not quote because after all this is an important situation if we really want well-maintained finances then we must try our best to manage it and indeed a reserve fund like this should not be missed for every month because when something is not wanted then indeed we can overcome without having to take money for other things in the monthly income that we have.

As for if the reserve fund is not used in the end it is up to whether it is used as an additional investment in bitcoin or something else is up to us later, the most important thing is that the reserve fund must be maintained so that when the expenses we have arranged but get an unexpected situation and have to spend additional money, we are ready with it.

I discussed the final investment decision directly with my family. People in my family don't know about Bitcoin but when I told them about Bitcoin and explained it to them for a while they got some idea about Bitcoin. I explained them about Bitcoin in such a way that they supported my investment. It's not like I misled my family into investing, I gave my family a real picture of Bitcoin investing which they really liked.  
My family members have assured me that I am planning my future where other children take money from their parents and buy drugs and other bad things with that money. They were happy with my plan and said that they would help me financially or otherwise in terms of investment.  

I will start investing with the money I have saved and I am thinking of tutoring some boys and girls. I will definitely get some amount of money at the end of the month for tutoring which I will spend all on my investments. Also my guardian will help as much as possible every month.  

With my best efforts and good support from my family, maybe my investment will be great. Since my family is with me and I will work hard for my investment then surely I will be able to see my investment till the time. I will be successful in investing one day and will share my success story in this section so that after hearing my success story some other investors can plan their future and invest in Bitcoin.

We all should invest with a long term plan when we invest because if we invest with a long term plan then we can achieve proper success through that investment. But before investing we must identify the weakness in the investment because I have to identify whether I can make the investment long term or what are the weaknesses in my investment. Generally, patience is very important in investing. If we can invest patiently, it will be very possible to achieve the success that we invest for. But many times it is seen that many investors invest in the hope of long-term investment but due to various reasons they may not be able to make long-term investment due to which they suffer a lot, so we must be careful that we should employ enough long-term planning in our investment. Every person invests with long term plan with enough hope that he will earn enough money from that investment before he must acquire enough knowledge about investment and he should always invest for long term plan. No amount of investment should be underestimated. If we can invest $10 per month then the investment amount at the end of the year will be $120. And at the end of five years the amount of investment will stand at $600 dollars. This $600 is just the capital to invest. Holding bitcoins for five years will certainly yield a good amount of profit. So long term investment is always acceptable and reliable.

 You are only misinterpreting what I said   I wasn't generalizing Bitcoin investment in terms making a good profits alone perhaps Bitcoin investment has lots of potentials of which offering protection against inflation is also one of it which I quit agree with you, my emphasis was about how the size of you Bitcoin portfolio is what will determine how much of your profits at when you might want to sell after reaching your investment goals and objectives, which of course no one is going to hold for eve but might decide to sell parts of his investment in order to put the body and soul together.

If that's what he means then he is wrong. It is good we use the money we can afford to lose in gambling. And the reason for this statement its not because we are not taking a proper risk, it is because we can go ahead and use money to save normal live problems, emergencies and other expenses for investing. Its not only in Bitcoin investment that this statement is applicable. Anything that involves risk we should e careful the amount of money and purpose of money we put into.

Imagine investing everything we have whether bitcoin or not. We know we dont pray for health issues or something that could damage us a lot. Yet, if we fail to keep money for those things when they come we would end up not able to solve that problem which may lead to death or something worst.

Desire supported by knowledge will make it easier for investors to achieve the expected goals. Investing money that can afford losses will enable investors to maintain their assets in the long term and prevent all worries that arise due to not being able to control emotions because they are too panicked about market conditions which are increasingly showing a decline. Feelings of joy and sorrow in investing are caused by the investors themselves, Bitcoin is the most appropriate asset for carrying out long-term investment plans. Even though the speculative level is very high, many investors have succeeded in proving their success in investing in Bitcoin.

I concur to this, going for the investment plan that you can able to withstand continuously is the best approach to Bitcoin investment, your investment shouldn't be in such way that you won't be able to maintain your content funding, lets not forget that to continue a long term journey an investor is suppose to work with what he or she can afford to invest overtime, this why strategy has been rolled out to fit every investor in such way that we can can't give any excuse not to continue investing, many people that withdraw along the line did it because they couldn't figure out strategy that fits their income, in every investment it doesn't the amount for funding may not matter but what matters is what you can afford and consistent funding of your investment so that your long-term expectations will be achieved.

Well,it's  not a bad advice to invest what you can afford  to lose but  every investor must ask themselves if they are here to gamble the ups and down or they are her to make a proper investment.
Bitcoin  is not just any kind of coin that could dump and crash overnight so forget about you losing your investment  there's always something to hold on...
Stop the illusion

Anything that pertains to investing requires money which you can afford to lose (as commonly used), it is never a story of it being trading or gambling. You cannot be too excited or let optimistism kill you not to understand the fact that, there is possibilities of loss while investing be it in Bitcoin market or any. We all understand the value of Bitcoin but that does not mean we should adhere to aome guidelines and thus invest everything wether it gonna yield or not. Every Investment we have ever made has risk, I don't get were you are having such assumption from;
This is a simple stuff that you should understand before now, no need to overstressed it.

Let us be optimistic, same time never undermine any possibility in a financial market.