Topic: Buy the DIP, and HODL! - page 235. (Read 109010 times)

This should be an important thing for us and should also be our priority if the investment we make in Bitcoin is known to our family and one option is to trust them to access our wallet when we are dead. It's true that no one wants death, but it will happen and we don't know when it will happen. Of course, passing it on to the community is something only Satoshi can do and other people might find it difficult to do.

There is no recovery that can be done other than the coin disappearing from circulation. discussing this issue, of course Bitcoin could reach $500k if shortages continue to occur every year. it's not impossible but we need time to see it. My confidence is growing in all possible aspects that one day Bitcoin will become a very valuable asset compared to other investments.

Maybe you are right, I have to take advantage of the opportunity to enjoy the benefits that exist someday. Of course I need to give vent to my lust to buy an item that might be a dream for now. life is only a moment and yes I will definitely take advantage but maybe not for now. The way to implement long-term investments may vary, where some start with $10 or $30 from the start so that their target is quite far away, namely 30 years in the future.

That's a very good suggestion sir  . Of course we want to have a Lambo that is synonymous with success if you look at the things published on social media lol

Apart from that, all the targets we want are success in the future and here we start and are ready to provide encouragement to beginners so that their enthusiasm grows to continue to Hold.

I totally agree with you on this, most investors don't know that it is actually paramount to put your security into consideration first before investing in any asset, expecially Bitcoin, you have to first of all think on how to preserve and protect it, before even acquiring it, so as not to run loss in one single act of ignorance.

Investing in Bitcoin doesn't require as much knowledge and much skills as trading. If someone uses the DCA method to invest, he doesn't have to confuse it with the ups and downs of the price. He only needs to focus on the investment time to buy Bitcoin.

In trading, he needs to learn many things, including analysis of the market. Learning about trading will not stop because the market is always moving. That needs time before someone can familiarize with using the indicator, and he needs always to learn to improve his skills.

Using the DCA method, someone can accumulate his Bitcoin by buying Bitcoin at any price, and that can lower his average buying price. Learning about securing Bitcoin is important because that is the way he can save Bitcoin in the right wallet to be a safe place.

One of the beauty of investing in bitcoin and holding it (for long-term) . Is that you don't need much knowledge nor skills to start accumulating. To that of trading (because before thinking of trading there's alot knowledge required), But in holding you just need the basic knowledge then you can start your bitcoin accummulating Journey. Afterwards you can start learning way you could secure your asset and knowing the principal on how to secure and healthy Bitcoin investment.

Speculating on current price is actually for people who do daily trades and if they are planning to hodl then I guess much better they should avoid participating on any discussion like this since their decision making might be affected and they could done bad decision that can stop their plans and make them a loser in short span.

Bitcoin will surely surge soon that's why its really better for people to set up their DCA plans and stop doubting and start reacting so that no regrets will come on them if they see some good runs happening.

Expect other folks to only speculate since maybe they are not prepared yet and their knowledge is not enough that's why they can't decide for theirselves on what are best thing to do in some situations occur.

yeah that's true. Base on my research about the previous halvings though haven't experienced anyone yet. But have done some research I found out that most time during Bitcoin halving bitcoin do undergo a certain dip(fir short-term), and after the halving alway experience a great surge in price. And most people may actually be thinking of purchasing bitcoin at that moment it experience the dip during the halving. And most of them may eventually endup missing out. And some may endup not accumulating more quantities of Bitcoin for the upcoming bullish run.

They don't actually know that those that have already embark the use of DCA strategies, and at the same the buying the dip would have more chances of a accumulating more bitcoin in their portfolio, Mostly with efficient and frequent DCAing. Because I don't see the need speculating when you are not ready to invest,  normal as you speculating at same time try accumulating. To be in a safer side.
 

Forget about speculating the price in the present but what you're doing is preparing yourself in the future with a set price you think possibly Bitcoin gonna meet at that time.

It's no doubt that Bitcoin will surge soon at this cycle and it's not going to be continuously happening every cycle and there's a stopover after that. Those that have been doing DCA for a long time might get a window for selling at that point and that's the time they should take their profits.

While there are folks that are all talk and can't put money on their mouths, they're going to keep on speculating until they realize that it's all over and late for them.

One of the advantages is that the coins of all of the remaining holders become more valuable when fewer coins are available / accessible (lost).  Sure the disadvantage to the family or the potential heirs, but it is not necessarily obvious that the heirs deserved the BTC more than the overall bitcoin community.  Some people could purposefully die with their coins because they would like to overall give to the whole bitcoin community rather than giving their coins to a presumptive heir.  So there could be a question regarding whether the passing down of the coins to the whole bitcoin community was done on purpose or accidentally, but bitcoin does not care, because if those coins are not recoverable, then bitcoin has just become more scarce.


Yep was it a mistake or on purpose, and since bitcoin cannot figure it out the difference, there is no recovery of the coins.


If you get into bitcoin and you are in your early 20s, you may well already consider that your timeline might be able to be longer, but yeah if you come into bitcoin and you are already in your mid 40s you might consider that you might not want to have a timeline that is more than 20 years..

Of course there can be all kinds of variations, and even if you invest with a long timeline, you are not locked into the funds, so even if you might treat it as a retirement fund (or a fuck you status fund), but if you are able to achieve a level of financial wealth that allows you to start to withdraw from the funds and to have more options, then you will likely be grateful for that.. and if you are investing $10 per week and 1 year is $520 and 10 years is $5,200 and 30 years is $15,600, you may well not have a lot of funds?  We cannot know for sure if BTC might go up in value a lot after you invested in it or maybe it goes up while you are investing so you don't have as much of your value that experiences the compounding effects because you are investing such small amounts.


Of course you have total optionality to cash out as soon as you want, to and there are a lot of people who end up cashing out way too many bitcoin too soon and then they regret it later, and maybe you will become one of them.  It is your choice and you have to live with the consequences.. and sometimes BTC holder/accumulators cash out for some relatively small amount, and then the BTC shot up 20x and they could have cashed out 20x higher, but they did not have patience.. so that is their problem.. and sometimes it had even been like 200x or more higher that they could have had received, but they were happy with their profits and they cashed out.. yeah.. its their choice and they do not recognize and appreciate the mistake until later, but sometimes they recognize and appreciate the mistake, but they keep doing the same thing..

It's up to you how you react to it, but I think some people forget or delay telling their family that they invested in Bitcoin and suddenly they died. then his family certainly couldn't access his btc if he didn't tell them his private wallet key. In this case, I saw several articles which stated that several large BTC holders had died, but I didn't know in detail that the BTC holders did not leave their private keys to their families. So, for that reason, let's just take the point that BTC circulation will disappear because of those who die or those who can't access their wallet because the private key is lost.

So what is the advantage of all of this? Of course, the smaller the circulation and the increased adoption or the more people who invest in Bitcoin, the more visible the opportunity is for a significant price jump. I hope you understand what I am clear about and that there are no stupid people in this developing era, but please know that sometimes it is their carelessness that loses their assets, such as storing the private key incorrectly.
Yes, as long as there is no urgent need, of course it is better to continue holding. Indeed, 30 years is a long time and perhaps no one knows our future fate. It seems that if you have reached satisfaction, there will be an option to cash out and maybe it will only be a small amount without having to sell everything. Personally, the bitcoin investment journey is like drinking coffee every day where I keep doing it to keep buying and holding it.

Just because someone lives with his parents does not signify that his parents would necessarily serve as his emergency fund.

But we might be able to assume from the posts that some of the expenses are less than they would be if teamsherry were to NOT live with his parents.

Sure guys should take advantage of whatever benefits that he has available, and of course, when dealing with other people and relations, we might want to make sure that we are not taking advantage of them since those kinds of negative dynamics can also mess up our own credibility and impressions that others have about our abilities to be responsible for our own finances. So it is quite likely that even if we life with our parents, we should be striving to figure out budgetary matters (and perhaps even contributing to the house expenses) and figuring out out emergency fund, reserve funds and float.. and maybe projecting out into the future regarding our income and expenses, and surely young people will sometimes not have as much cash because they are spending time to build their job skills and maybe seeking out education and training that may well improve their future income even though their current income might suffer due to their receiving such training.


Yes, there can be questions regarding how to manage your BTC holdings and questions regarding whether it is ever a good idea to sell 50% of your BTC holdings in one setting, unless you might have too many BTC... and so there can be questions regarding how many BTC you need and whether you have too many and do you have so many BTC that you can feel comfortable shaving off 50% at one price point.

The longer that you have been in BTC and the more BTC that you have accumulate, the more you might be able to justify selling off decently large amounts, yet even $100k does not seem to be a very high price, and there seems like there could be way more reasonable ways to manage your BTC holdings, even perhaps starting selling at $80k and spreading out your sales.. maybe 5% every time the BTC price goes up 25%, even that seems like a lot of sales (from my perspective), but it may well be more reasonable than selling a bunch (such as 50% at $100k) at one price point and then never being able to get those BTC back.

So, we know that each person has to make these kinds of assessments, and historically, we have seen a lot of examples guys selling way too many BTC too soon and then regretting it later... maybe within months or maybe even years later.


There are likely some people who have lost their coins and who don't even realize it, and part of the problem is that they might think that they know how to access their coins, but they might not access them frequently enough in order to make sure that they do not end up losing access or even overly-complicating their BTC storage set up so that they end up locking themselves out of their own coins.


I will take a look at that thread later, yet I am familiar with those kinds of comparison numbers, and yeah bitcoin has outperformed all assets, especially the longer the timeline, and there are no signs that bitcoin is not going to continue to outperform all other assets..

One of the advantages that bitcoin has is that it is still in fairly early adoption stages, so even though there are not guarantees that BTC price will continue to exponentially go up with ongoing increases in network effects (as outlined by Trace Mayer), there is no evidence to the contrary regarding bitcoin's asymmetric bet to the upside in the coming 5-20 years or more.


We have to still remember that past performance does not guarantee future results.. so we have to figure out a position size that it comfortable and appropriate for ourselves.


That sounds right, and guys should be tailoring to their personal circumstances to try to be as aggressive as they can without overdoing it.. which sometimes they won't realize they overdid it until they find themselves in a situation in which they made the mistake... so frequently it takes patience to build up your holdings, and sometimes it might be good to earn extra money, but sometimes there are needs to invest in your education and/or improve yourself so that you can earn more later or that you improve some of your skills... so it is not always clear, including that some guys come to bitcoin without any other investments and other guys come to bitcoin while already having investments.. so they would likely have different approaches based on their circumstances when coming to bitcoin.

Yeah alot of folks endup losing their Bitcoin due to death and even due to misplacement of their security seed phrase. Before they even had the chance to feed from their fruit of their labour. Indeed bitcoin still remains a strong investment, I stumbled upon a post days back Here in this forum. A higher rank user posted a post about comparing the profit you would made from investing $1000 10 years ago in either Gold, real estate and Bitcoin. Well at first stated that due to Gold recent value if one invested $1k 10 yrs back he or she would endup around making 2× their invested funds  that means their portfolio might be around 2000 USD. While those that consider real estate would might made a max. Of 10× to 15× in the last 10 years depending on their location and all that. But those that invested with $1k  in Bitcoin 10 yrs ago may endup making about 350× profits.

You can see the massive different of Bitcoin from others investment. To me bitcoin is one of the best investment (if not the best) because bitcoin as indeed change alot of people lives for the better, ( expecially the accumutors and holders just as sir JJG said.) Though most of us wasn't among those set of people then. But now still the time forus to be among those Bitcoin gonna change their lives for the better too. I know other invest are nice and all that but I would advise to focus on mainly on accumulating bitcoin first till you reach a certain state before thinking of diversifying. And please if  i have said anything wrong in any chances please do so in correcting me.

Hmm, pretty interesting, mate!
I am also joyous to watch the Bitcoin raising because every Bitcoin enthusiast has a dream like you that the price of Bitcoin should be raised in the same way until halving, and as soon as the halving is done, the price should enter an extra stepped bull run. Honestly, I will be crazy if Bitcoin crosses $100,000 at the end of the year. I have also invested in Bitcoin like you and I hope it will make me a millionaire next year. 
 
In the rest, brother, when Bitcoin crosses its $100,000, I will sell out 50% of my Bitcoin investment, make a profit book, and seek more investment opportunities to organize profit again. 
 
The rest of you express your opinion about whether it will be better to sell out your investment in the bull market or not. Share your opposition with us.

wow! I must say that I'm even jealous of how early Youve started making investment into your future. The mistake most old people make is that they assume that you only start investing into your future while you are approaching your retirement age. Accumulating Bitcoin during this phase of your life that you're still young with little or no responsibility to disturb your mind will definitely make it easy for you to accumulate Bitcoin with the use of the DCA strategy.

Imagine your parents give you a monthly allowance on a regular bases and you decide that whenever you receive it you will invest it into buying a fraction of Bitcoin? If you're consistent with the routine within the next five years you might possibly still remain under thier care you must have accumulated a very huge amount and it's at this stage that you wouldn't necessarily get bothered about selling off your holdings since you can literally ask your parents for money in cases emergency. If you're able to start accumulating at this age maybe at a small ratio because of your financial strength before you would have had a job, it would have become an harbit that you've grown matured into and it's just going to be easier to increase the percentage of your investment into an higher amount and with time you will be surprised that you've gotten something close to your 8BTC plan for the next 20 years although you might not necessarily get up to such amount of BTC within such space of time

You are quite fortunate to still have your parents taking care of most expenses in your life at this stage of your life. And I love the fact that you have not taken this for granted and spend the money you get recklessly on other things. Not many kids will think the way you are thinking by investing in bitcoin. Not many people have that kind of opportunity as you do. My advise is that you should utilize this opportunity and gather as much bitcoin as you can, before you know it you will be proud of your bitcoin holding. It's good to realize yourself early in life and make plans for the future.

Of course, we do not know the future with any kind of precision, but in 20 years, it is quite possible that anyone trying to reach entry-level fuck you status, would ONLY need  less than 2 BTC.. .. actually 1.672 BTC to be more precise - and so if you are aiming for 8 BTC, then you likely would be nearly 5x more bitcoin than needed to be at entry-level fuck you status.

I think that my main point is that you likely do not need as many BTC as you believe, but surely it does not hurt to accumulate extra because we cannot really know about future projections, yet if the future projections play out in terms of BTC price performance and in terms of your ability to accumulate BTC, at some point the paths should end up crossing, and it would be nice for the paths to cross earlier rather than later, but we do have to attempt to prepare ourselves for a variety of possible scenarios, so it likely does not hurt to overly prepare and then end up arriving sooner than expected, so long as we do not end up blowing up our own situation through some kind of devolution into gambling strategies rather than investing strategies.

Another thing that if your goal is to accumulate more than 8 BTC in 20 years, that is surely quite ambitious... but it is not impossible.. yet I would imagine that you would need to get up to being able to invest $500 or more per week, and that still might not get you up to 8 BTC in 20 years, and yeah if you are not yet up to those kinds of levels, you would be figuring out ways to work yourself up to those kinds of levels... and it would be difficult to consistently invest such high levels - though not impossible if someone already has a decent income and/or low expenses, but even if someone is living with their parents, they might not allow you to live rent-free for a long period of time, especialloy if they were to be able to figure out that you were investing $500 per week or more into bitcoin.


If you spend, 10 to 20 to 30 years investing into bitcoin, and if you start out with bitcoin as your only investment, surely in the first 5-10 years there may be periods in which you might feel that you are not making progress, but then at some point you might start to feel that you have enough BTC,. and even if you are not quite at the level in which you are going to want to start to cash out some of your BTC, you might at least start to choose to invest into other things so that you feel less overexposed to bitcoin.

And mostly HOLDing through a period in which BTC prices go way up and way down takes a bit of commitment to the idea that it is just better to mostly be HOLDing.  You likely have to have systems in place that allow you to do such a thing, and there are quite a few bitcoiners who are similar to me, and some of them were on this forum complaining that they did not sell more during the peak.. so sometimes there can be some regrets about missing such BIG trade opportunities, but even if you sell, you could end up selling too soon and then also not really know how to play it.. when to buy back and how to buy back, so it surely can be difficult to get anywhere close to the top in terms of selling and to get anywhere near the bottom in terms of using those proceeds to buy back.... so sometimes there can be more comfort in terms of not even trying to play those kinds of games with your BTC, unless you are just using a small portion of your BTC to do that, but at the same time, if you have not reached your accumulation target, it makes even less sense to be selling if you feel that you don't yet have enough BTC.


The whole matter of death is tricky.. because perhaps you would like to pass your BTC on to some heirs at the time of your death, but you do not want them to have access prior to your death. 

So if you have such a preference to pass on your bitcoin, then you have to make sure that you leave sufficiently clear instructions, and at the same time, if some of the instructions are not clear and if some of the details (about how to access your coins - and to show where they are at) might change, so you have to update your instructions.. but at the same time make sure no one can get your instructions prior to your death.. since maybe you might fear the wrong person finding your instructions if those are instructions are too clear, then the wrong person can get your coins, either before or after you die.

I doubt the solutions are even as clear as some folks would like to believe them to be, and sometimes people are not even clear about who they might want to have their coins.. it is not an obvious answer to everyone and the answer may well change over time, even if someone is able to answer one way at time one, they might have changes in their opinion, so they might be reluctant to even lock into their intentions, and presuming that they will have time to figure that out later.. which we know that there are quite a few times that death comes quickly rather than letting you know that it is on its way.. and even when it let's you know, there are some folks who are in denial about their death and/or demise all the way to the end.


Of course new cars are quite a depreciating asset, they are very expensive to have and maintain, but at the same time, they frequently can have quite a bit of utility value and just convenience.

No one can really tell anyone else about whether it is better to invest more and consume less or maybe to do the opposite, consume more and invest less, and sometimes we might not know the ramifications of our investment/consumption levels until much down the road, and there is quite a bit of value in having options down the road so that we might have the option to not have to work or to choose the kind of work that we do.

Time does fly by fast, and there are some folks who end up dying before they are able to enjoy their fortunes, so there are a lot of personal trade offs, yet one really powerful thing about bitcoin does seem that it has had some abilities to move quite a few people (mostly the accumulators and HODLers) into a higher financial status than they would have had ever been able to achieve through various traditional investment methods, so in that regard, there is a lot of power in that kind of transfer of wealth, and even though the upside potential of bitcoin is likely reduced, it still retains a very strong investment thesis..

whether anyone is young, middle aged or old, and yeah of course, frequently we talk about having at least a 4-10 year investment timeline or longer, so there sometimes can be questions regarding anyone who starts to get into their 60s in regards to if they might be able to continue to consider themselves as having at least a 4 year investment timeline, and that may well have to do with the level of their health and if they might have other sources of income in which they are able to draw that would mean that they could allow their investment in bitcoin to ride for at least 4 years but surely better to have longer time than 4 years, especially if anyone is DCA investing for 4-10 years or longer, then each time they buy more BTC, they would need to justify having at least a 4 year timeline from each new purchase in order to be long term investing rather than trading, gambling and/or playing the price waves that may or may not end up working out and usually not good for older people to be playing with their retirement funds like that.

Wow amazing, All those spendings you where still able to stash this much, just imagine you spent less. Damn  It would have been boom ( like you would have had alot of coins more than your recent). You are right at such age it would be tough call on what to spend or hold. But still with such stash , During the next bull run. Of  bitcoin hitting it new ATH reaching the price range of 100k+ You would definitely endup with massive profits. What you just said has just made me to see more beauty  of holding Bitcoin for long-term investment and has same time inspired me in my accumulating more.

Maybe but you need to enjoy it while you still have the ability to do that  
This is a bold one, really motivated me

I am older 67 so a 15 year plan has very little attraction to me.

I have earned maybe 250,000 usd since 2011 via mining and gear sales. Maybe 300,000

I spent as I earned because my other incomes were not high. So constant savings of coins did not become my goal.

If I had hodled more and spent less I would be better off.

But I also lived life got a new car every few years
 2015
 2018
 2020
 2021
went to nice restaurants.
and enjoyed time with my wife.

I have coin
I have gear
I am getting a new car in May


But if I had held the cars longer did less restaurants.

I would have more coins 🪙.

Its always a tough call when you are older on what to spend vs hold.

The younger you are hodl hodl hodl hodl is far more important .

If someone can use the suggestions given by you correctly then hopefully only 10 years is enough time for his life to change. But most people don't want to be a consistent investment here, they sell them when the bitcoin price goes up, they are far from long term planning. I agree with you that every success requires a long term plan that should be consistently worked out be it investment or income from elsewhere. But I've seen very few people do them and apply them in their lives.

Yeah it's true but  did you really went through my comment