Topic: Buy the DIP, and HODL! - page 233. (Read 140496 times)

I see where you’re going with this and you’re absolutely right, I was also referring to Bitcoin thanks for the notice I’ll be careful with my wordings next time to avoid any confusion of any sort.

I think it depends on the amount of quality information the individual is privileged to have, Which is why I was very careful to acknowledge the usefulness of threads such as this aimed at educating beginners.
Helping them to understand and make profitable decisions on the space, which is more or less the right path to follow on this unending journey of crypto currency’s.

Also its good that we are discussing about bitcoin investment in this thread so that we could also figure out if there's something wrong with the methods we use. So that we can be corrected and make our investment to get good result in future. That's why its ideal for new investor to participate on a discussion like this since for sure there would be a lot of learnings to get especially that they can read multiple opinion which can make their mind sharp towards dealing on any possible scenario that they might encounter in future.

I'm impressed on how people deal with their investment and the way how they share some valuable information this help a lot of investor especially when they are seeking for some valid opinions regarding on some pointers that they are considering to follow.

So hopefully all of us here will earn success so lets continue to plant and for sure there would be a good harvest to come in future.

It Will make more sense if only you can be more specific in terms of using the word crypto such that if you are referring to Bitcoin you can just say Bitcoin or probably  mention the other coins that your are making reference to , another important thing I want to talk about is the fact the only coin that has holding potential is Bitcoin as it has a solid foundation such that other coins performance depends on it , so for me it doesn't really make sense for anyone to say that to buy and hold is the anthem of all crypto enthusiasts whereas is a Bitcoin long term investment discussion thread.

many people has already had the clear understanding of this but the thing is that they do things on their own so I believe that whoever that we want to learn we will learn and understand the procedures of investing in cryptocurrency mostly in Bitcoin, the people who actually invest for short-term investment there are people who is curious to at least make them dollar difference from their investment so those people they are only concentrating for benefiting at that moment and then the profit they need is a smaller profit not a larger profit so you cannot blame them and the people who is interested to invest and make a profit for cryptocurrency investment politely in Bitcoin will you like to invest a long time so that they will make a mega profit.. beginners have to learn and understand the scenario not to just go into a investment because of they needed your quick money.

I believe this is why we’re here to raise concerning conversations and talk about ways to simplify investments and derive the best possible outcome, most new comers getting into crypto and buying Bitcoin come bearing the same thing in mind which is investing for a short period of time.

This only emphasizes the usefulness of this platform and threads like this aimed at educating investors on how to buy and hold which is the anthem of all crypto enthusiasts hoping to become mighty whales some day.

Bitcoin has risen dramatically since its inception and till today, using it as a store of value is just concerned by a few number of individuals. Bitcoin has a consensus it has been following and I believe it will continue to follow that path for years to come from now. If you wish to use it as a store of value, it just makes a lot of sense because in its initial purpose, it should serve for that. But due to large number of people using it for investment purpose and some other factors attached, its volatility nature will continue to prevail and makes it unlikely to remain at a particular price and be regarded as a store of value for a long time. The concept of the store of value will make more sense without the volatile nature of it, but since it is not, you’ll only get to be profitable when the price is on high value.
So even if Bitcoin hits 100k today it will still grow bigger tomorrow so they mindset should always be to accumulate more and more the only time we should think about selling is when we are now retired or we could even pass it to our children as inheritance.

before you see somebody make up his mind to hold Bitcoin for long time that means that person has been involving itself in business of cryptocurrency so what come to their mind mostly is to buy bitcoin and the sell when the price increases more so many or persons who said that they are holding Bitcoin they are not holding Bitcoin because what they needed at that time is to make a profit and if bitcoin increase above the amount to the bought in the market they will sell to make a profit and after them they will also purchase and when bitcoin increase they will say so that is continuous way there are doing things in order to make a small amount of profit not knowing that when you hold a bitcoin for long time it is when you make a potential profit more than investing short term.

From my own personal experience I have come to understand that people who thinks to buy bitcoin and sell founds difficult to hodl bitcoin because the main reason for them buying bitcoin is just sell to make profit and they want this profit so fast which is so difficult for them to have that patience to hodl bitcoin.  Those that their thinking is just to buy bitcoin are the real investors because they buy and never have any thoughts of when to sell bitcoin. Buying bitcoin and planning when to sell is just like trading buy buying and hodling their is no plan of when to sell and investors like this hodl comfortable without been bothered to get profit quick. Buying bitcoin to hodl is not difficul but everything depends on interest. If the interest is there to buy bitcoin will be very important and the amount either small or big does matter.

For me I don't, and am not comfortable with the idea or assertion of considering the dca strategy to be a fixed amount, considering the fact that your investment money will be coming from your disposable income where there can be variations of expenses across week's, or months, if you are dcaing in weeks there are weeks that you may have less expenses and there are also weeks that you may spend more the same as in months too, so at when you incure less expenses you can as well increase your dca amount and as well it can reduce too depending on your disposable at that particular time, what am trying to say is that prioritizing having a fixed dca amount might make you to invest certain amount of money that maybe is meant to be used for your living expenses Will now be used for your investment just because you want to meet up with your fixed dca amount which might not be a good approach towards your investment. The dca strategy is a flexible strategy where you can comfortably grow your assets without seeing it as a burden, what is most important is consistency and working towards achieving your investment goal and objectives.

Dollar Cost Averaging (DCA) may not be entirely risk free, but if you understand it, it's a solid strategy that can be beneficial for both beginners and experienced investors. It helps smooth out the impact of market volatility and is a popular method for many in the bitcoin investment world. Investing always carries risks, and it's crucial to be mindful of the possibility of losing the invested amount. By using discretionary income for investments like Bitcoin with a DCA strategy, you're ensuring that you're not risking money needed for essential expenses. Understanding the potential outcomes, both positive and negative, is key when investing in assets like Bitcoin. Bitcoin's innovative features and potential for wider adoption and network effects make it an appealing investment for those who grasp its significance.

Even though I am anticipating bitcoin to reach the $100k price, I am not accumulating bitcoin to sell it when it reaches $100k. The $100k price will increase the adoption of bitcoin because so many people still have doubts about it, but if the bitcoin price gets to $100k this year or next year, it will change their impressions about bitcoin. Every investor accumulates bitcoin based on their discretionary fund. If your discretionary fund allows you to accumulate bitcoin with the DCA strategy and also buy the dip, go on with the plan because it will help you to be fast on your accumulation journey.

The DCA method have helped a lot of us since we started our bitcoin journey and I am also a testimony to it. Why I love this accumulating method is that it helps your to manage your discretionary income properly because you will always have a fixed amount that is set aside for buying bitcoin whenever you get paid. Using DCA strategy to accumulate bitcoin will also make your bitcoin journey flexible for you and you will also have time to run other business without it affecting the other.

Also I wouldn't have been able to acquire the quantity of bitcoin that I have now through DCA than any other accumulating method, because I don't think that I will be able to keep such money in fiat without tampering it assuming I am not investing it weekly into bitcoin. I just keep buying with the budget I have assigned from my disposable income whether bitcoin price is going up or down, I don't care. I now manage my income properly and I trim down my expenses because my regular DCA is my priority and I don't want any action of mine that will make me skip a week without buying.

I am glad that you are rethinking your earlier practices - especially if you had been thinking that selling is a good way to accumulate more bitcoin.. so if you can figure out some kind of an amount of weekly investment amount that is reasonable to you, whether that is $100 per week or $10 per week, you can start out some kind of an ongoing BTC accumulation plan and to study bitcoin at the same time in order to perhaps become more confident in your own choices regarding how much to buy, how long to accumulate it and how much bitcoin that you might think that you might need before you might start to change your strategy into something other than ongoing accumulation... and one of the things with bitcoin is that anyone can get into it at amounts that work for them, yet they still may have to figure out how to hold it themselves and various other kinds of learnings about bitcoin in order that bitcoin may have greater chances to give them more rather than fewer options in their own futures.


We are talking about bitcoin and not crypto or shitcoins in this space.  Sure you used the word bitcoin a couple of times yet it makes no sense why you seem to believe that there is some kind of need to use the term crypto.. unless maybe you don't know what bitcoin is.. or maybe you are trying to appear smarter by throwing in some meaningless and amorphous word in a thread that is about bitcoin.


Any investment is risky in the sense that you can lose up to 100% of the amount that you put into the investment.

So with bitcoin, if you are investing with DCA and using discretionary/disposable income, then at least you are not using money that you need for your expenses, and if you need the money then maybe you should not be investing it into something that could go to zero.

On the other hand, surely we know that there are upside and downside scenarios, including in bitcoin, so there are chances that what you invest into bitcoin could increase in value and might even increase more than other places that you could have had placed the value.  So there is a balance that comes from both understanding that the BTC price could go either way, while at the same time, bitcoin happens to be quite an amazing paradigm-shifting kind of a technology of sound money and even facilitating self-sovereignty, so that folks who understand and appreciate bitcoin's value proposition can likely recognize and appreciate that bitcoin remains something that is likely going to continue to gain in adoption and grow in its various network effects. which also are somewhat pegged to bitcoin's likely ongoing price growth.

Continuing to consistently do what you have started, of course, this will be very profitable for you when the Bitcoin price reaches a new ATH later and this will not be possible for those who do not understand well how to invest in Bitcoin, it is true that if we choose to combining the purchasing method is decreasing and using the DCA method could cause us to be disturbed when purchasing using the DCA method. It could be that the funds we use to purchase the DCA method we use when purchasing are decreasing so we have to buy in small quantities when purchasing using the DCA method, I think it would be better for us to just use the DCA method as you have done, of course this will be very profitable for us.

I thought about this for a moment and I think there is a lot of value to that statement. I think we are both on the same page when we say that most people speculate on profit in terms of more USD in their pockets once they have bought and sold BTC. But you have been criticizing the word profit here, and I say rightfully so!

BTC gives you benefits and options. There is a whole branch of science on the value of options. That's why your statement is so valuable because it captures what many of the people who do understand BTC a little better have in their minds. Owning BTC gives you options like no other asset can give you. BTC carries value and BTC is convertible in literally any life circumstance at any place and at any time. If I own an Amazon share, it is not the same. Gold is not the same because I can't carry it with me anywhere at any amount and it comes with more problems than that.

The moment someone sells BTC for USD profit, the same moment the person sells options and opportunities. The real life profit in the moment of the sale is the USD surplus minus all the options that BTC potentially offers to the holder. It could be the obvious further potential price gains, having to leave the country without nobody noticing you are taking value with you, it could be Wall Street burning down and share prices going down the toilet while BTC remains stable due to its security architecture, it could be protection against expropriation in some places, it could be many things and the list is long.

Nice phrase I have to say and while I act that way and think that way I have never put it into a single sentence like you did: "I doubt that the end game is necessarily profits." = "The end game of holding BTC is not necessarily USD (or any other currency) profits." Awesome! The end game is options, having options!

 

This is quite impressive stating your bitcoin journey with a long term mindset, it’s best everyone invest according to their strength and income knowing how bitcoin investment work because it can’t work with a short term plan. It’s common now and here when people choose bitcoin investment the first valid point anyone can mention is a long term plan. The DCA strategy is common and mostly every investor identify with this strategy not just because DCA is perfect as people conclude but it allows an investor to settle every necessity before going ahead to buy. In summary an early journey need no hastiness even if the journey is kinda slow it doesn’t necessary matter as it’s good you also consider your reserve, emergency funds this stage.

Well I understand what you are trying to say but buying Bitcoin during the dip shouldn't be something that you are fixed on because you can take as an opportunity window even though you are buying with the DCA strategy and this is because the rate you get for buying Bitcoin during is more profitable but it's still understandable that you don't bother yourself and only wait on the dip because consistency in buying of Bitcoin is the right way to go about it especially when you are already fixed in on the taught that you are aiming big with your investment.

If you knew it that Bitcoin is here to stay probably you'd just keep it and won't do anything but to keep on holding. I understand that many are going to sell at some point of their lives but if you're still contemplating what to do with your holdings then, it's just best to hold it for now. That's the reason why many have sold too early because they do not have a concrete plan whether they're going long term or just short term. For the long term investors, they won't mind what's happening to the market and they will even accumulate more.

Congratulations!

Be proud of what you have initiated because not all who have known DCA are actually doing it. They've got struggles as well and some might be just all talk that they've been telling that they're about to do it but never initiated anything.

I like that energy from you and I hope that you keep that spirit and you continue to accumulate Bitcoin. Don't get upset when the market is down because it's not forever like that and the same goes when it's moving upwards, don't be too emotional I should say.