Topic: Buy the DIP, and HODL! - page 238. (Read 136036 times)

You make quite a notable point.
Stalking and piling up fiat before buying bitcoin is indeed a flawed approach to bitcoin investment, the price of bitcoin can be really volatile and pretty difficult to predict, so before you even manage to gather enough funds, the price might have become higher than it was, making it even more expensive for one to buy.

Rather waiting till you feel you've stacked up enough fund before buying, a more suitable and effective approach would be the DCA strategy, by adopting a strategy of buying on a regular basis, regardless how small, then maybe you could increase the amount of your buys overtime and you'll see that you'll be able to accumulate even more bitcoin in the long run than someone who's waiting to buy at once. The DCA technique doesn't only help to accumulate more bitcoin, it's also a good way to reduce the impact of the market's volatility.

That's not what I meant and moreover I support everything you have said in the post I quoted, but in this case you might interpret it in another direction, so sorry if that makes you upset. But I always support every point you have explained and I want to strengthen it with my explanation, perhaps what I explain is a bit difficult for other people to understand.

I support what you said in the previous post that they act aggressively to buy bitcoin by selling cars and saving their monthly expenses to invest in bitcoin. And here I just add a few points from my idea that if they are beginners who invest all their income, of course they are not ready when everything happens to the market, for example a 50% drop.

As for the second point, I also support your point, when they get additional income, of course they can use that money to buy bitcoin aggressively ( when they get additional income).

On the other hand, I support everything you have said and there are many useful points for those who are beginners in investing in bitcoin. They can start from $10 or depending on their ability to manage their cash flow.

Actually, this should not be suggested because we are here to support each other (remind each other) not to bring each other down by pushing someone into a more difficult situation. I'm not going to say trading is a mistake because that would offend a lot of traders but at the end of the day we also need to believe that something like this cannot be used by everyone without a lot of courage and the science of trading is very difficult so for lazy people like me, I would rather avoid this because the risk is definitely not bearable.

In addition, for beginners also should not be here just for trial and error because it is not a suitable thing to try without a clear approach to something because when only relying on instinct alone it is not trading but gambling so it would be better for beginners to learn investment well first because in addition to the risk is much safer this will also not make our money disappear suddenly exposed to liquidation because it is in the wrong position.

No, I assume it is the lack of understanding the semantics of what you post. If you say that they think Bitcoin is expensive compared to "altcoins aka shitcoins", it often is the case that they don't even understand the principle market cap is based on. They go for Dogecoin and see it is pennies, while they don't take into account that there is a multitude of coins in circulation compared to other coins. If those people decide to buy a coin based on the sheer price they see, how can you even help them? There is no point in explaining Bitcoin in better detail. There is no need to let them know the value Bitcoin does indeed have! Intrinsic value I would argue! Capital mobility, self-custody, neutrality, etc. I understand that speed and transaction cost are a problem at the moment, but these problems do not negate the advantages Bitcoin has. I have been holding presentations about Bitcoin since 2013 and in my opinion nothing has changed. All the advantages it had back then, it has right now. The only thing that changed is transactions cost. It's a big one, I admit. But I feel there will be solutions to that to a degree that Bitcoin is not only the better gold.

While holding and depositing BTC essentially mean the same thing, there are some policy differences. Someone who is financially sound can buy a lump sum of BTC with his cash which is a direct holding here for the long term and is a long term holder with a target of 4-10 years. He feels more comfortable keeping his investment goals for the long term with faith. Long-term holders in BTC often prefer to focus more on timing rather than price. Most of the investors in this system are elite class and also various investment institutions.

On the other hand investors who deposit BTC are also holders but they follow the strategy of depositing uninterruptedly and consistently following the DCA method at fixed time intervals. Following the DCA method in the long term is ideal for all three categories of investors, large, medium or small, as each category of investor has the opportunity to deposit any amount of BTC they can afford. Every category of investor is recommended to keep investing whether weekly or monthly with regular deposits. In this case, investors are advised to keep 3-6 months of floating cash to cover their family's daily needs in case of emergencies and protect their holdings with 4-10 years of uninterrupted DCA continuity.

Basically BTC holders should aim to take care of their holdings for the long term because if they focus too much on the price, there may be deviations that may not yield the desired returns. So BTC holders are the real beneficiaries for future.

I don't think waiting for the dip before accumulating Bitcoin as a good strategy, for there is no need waiting for the dip before accumulating Bitcoin as it is not necessary or important when buying using DCA method.

For me I see buying only when the market is DIP as trading. With your DCA strategy you can accumulate more Bitcoin regardless of the price either weekly or monthly as the case may be.

Who are you asking, mate?
If you already know that saving Bitcoin is a good thing, of course you will never get bored of collecting it every day in order to have a larger amount of Bitcoin in the future. Because for most people Bitcoin is an asset that is very worthy of being collected and stored properly because Bitcoin has the potential to help its holders from inflationary conditions. So you don't need to hesitate to continue accumulating Bitcoin and saving it while you can still collect it every day with the abilities you have and the strategy you apply yourself.

You guys don’t seem to get my point, this is a forum where we all interact and share ideas and we learn new things from each other every single day regardless of the ranks and even higher ranks can learn from a newbie I don’t dispute that but going back to their discussion I discovered how he disagreed and argued about capital and to my understanding i agree with JJG’s point and further advised him not drag the issue too far and reason from his perspective even if he feels he is wrong.

Y’all attacking me but it’s the plain truth, knowledge shouldn’t be measured by rank, but not just in the forum anywhere you go rank speaks highly of a person more because we all believe a person with higher rank is more qualified. I would have speak highly of him if only his rank was higher or seen a proof of how knowledgeable he is around the forum but I didn’t see anything.

You should tell him the truth instead, to learn and improve one needs to show signs of respect to their seniors no matter how knowledgeable or gifted you think you are it will help you grow more.

Actually there is a different between holding and accumulation of Bitcoin but however they are actually intertwine depending on the intention of the investors because not everyone who claims to be accumulating Bitcoin is actually a holder because lately most people has been confusing  six months to seven holding to be a long term holding when the actual fact is that you can only be considered as a holder if you are able to hold your Bitcoin at least seven to ten years and above.

Meanwhile accumulation on the other hand refers to acquiring Bitcoin into your portfolio which is different thing from holding but however if your intention is for a long term holding then the both of them can work together, however in terms of benefits of Bitcoin without being told you will know that Bitcoin is a very potential coin and in the future your investment will determine the possible profits you would realize because there is no way you would invest little and expect huge returns.

These are interrelated things, because collecting cannot be separated from the holding that we do. Every time we collect we will definitely hold it, but every time we hold it, we don't necessarily accumulate the amount of bitcoin, it's as simple as that in my opinion.
The benefits of holding bitcoin should be common knowledge because many have explained it, but I will try to explain one of the benefits of holding bitcoin, in short, we can make a profit.
Meanwhile, accumulating or collecting bitcoins is something we do to have more bitcoins in our wallet over time. and as we all know, this is what we often call the DCA strategy.
It is a good choice when we can continue to accumulate the number of bitcoins in the wallet

I don't also get the point why he bring up the rank discussion since it doesn't mean that if they have high rank account in this forum automatically they are more knowledgeable than those people which have low rank accounts. This is not the measurement of intelligence since not all can spend a lot of time in this forum since maybe they are in focus outside and just visiting here when they need something especially seeking for updates regarding on new trends. I see a lot of knowledgeable low rank account that discuss a lot of technical matters about bitcoin. So hopefully there's no other other discriminating opinion towards them since we are here to share our knowledge and contribute to the topic discuss in this thread.

If they don't like the opinion shared by low rank member then I guess its better to share the correct insights so that they could also learn something that there's something need to  correct on their first opinion posted here.

I have thought about doing this, with the income I have every month I will set aside some money to save and invest, of course not forgetting to meet my needs. Indeed, if you wait for the money to accumulate and then allocate it to Bitcoin, that's possible, but I don't think everyone can hold cash in fiat consistently, because there are unexpected needs or expenses and the money in the pile will always be used.

Of course, we won't know whether the price will rise or fall in the future, but what is clear is that we hope for the best, namely that the price will rise.

Why can't lower-ranking members debate with higher-ranking members? Does the forum have any regulations about that? And that shows you lack respect for newbies, they don't have the right to learn, don't have the right to express their investment opinions?

I agree that those who have been in the markets for a long time will have more experience, but everyone has a different view on investing and just because they don't have the same view as us doesn't mean they are wrong and we are right. Furthermore, sometimes newbies don't have too much understanding and arguing is a good thing because it shows they are trying to learn. Maybe right now they don't understand and are stubborn with their views, but maybe later they will thank us when they understand everything.

What do you think that he's the benefit of holding Bitcoin and what do you think that is the meaning of accumulating Bitcoin so for me there is not different between holding bitcoin and accumulating Bitcoin, we define Bitcoin in different participative and holding of Bitcoin will define it in different ways so I know very well that is good for we to hold and also accumulate it is the same thing for my own understanding

When you invest in bitcoin it means you have disposable money and in that case i also will not regard it as capital so don’t understand why he keeps arguing about this, I think maybe because he lacks understanding about it but i don’t get why a junior member rank will want to argue with a legendary rank with experience? Keeping a cool head and being loyal is the best way to gain knowledge and not argue even when you feel you are right.

These are key factors to be considered before investing because investing without a plan is just like driving aimlessly without a preferred destination. When investing one must carefully plan out is investment strategy like the amount of money to be invested at regular intervals when adopting DCA strategy, the duration of his investment (holding for a long period of time usually the best and most profitable duration to consider), also one needs to map out when to take out profits like a certain percentage to be reached to take out profit. Taking profits doesn’t mean it the end of your accumulation process, profits need to be taken to prevent the risk of losing your profits when price corrections happen so profits are taken to be reinvested and not lavished, probably diversifying while still sticking to your regular bitcoin investment plan. If your investment is well planned while having a steady flow of income one will easily take eyes off their bitcoin investments.

DCA strategy has really brought about flexibility in investment and has helped to create opportunity for even the average earners. You don’t have to wait to save up for a long time to be able to afford bitcoin investment and this strategy is not being utilized by just low and average income earners but also even high income earners utilize the DCA strategy because it makes investing possible regardless of bitcoin price either high or low.

One thing I like about cryptocurrency is that when people have refused to go the right way by investing in Bitcoin that is reliable, they later learn from their mistakes which they may not repeat doing things the wrong way. Bitcoin is a good and reliable investment but some investors fails in investing Bitcoin because they think investing  altcoins the price is cheap and they can quickly gain profit from it quick, this is what people have always believed and many people have regretted for believing this. No matter how much and how far the price of bitcoin has reached it is still profitable to invest in bitcoin at anytime.  The market of bitcoin is different from altcoins, altcoin can just show a slight movement in the market and never increase again. But we can see how much the price of bitcoin has gotten to and it is still profitable when you invest in it.

Their is no need in investing in altcoins because it is something you can never predict when it comes to risk, it is preferable to invest I bitcoin.  Investing in Bitcoin you don't need to be scared about if something is going to happen to the market.  I can say most investors investing altcoin don't even have peace of mind of what they are investing because they aren't sure of their investment but their goals is just to make quick profit. One of the criteria of a real investment is investing in what you are sure of that it is profitable and not taking so much risk that anything can happen,  this is not what we call investment,  it is just the same as gambling.

Really a bad idea especially if they think about they can get quick profits with this alt since they might just burn their capital especially that everything on altcoins are more unpredictable and we don't know if there's a chance that we can recover if sudden negative scenario will come up. Also if they think about investing on it for long term well more risk will come for the side of people doing that since we know that altcoins posses huge risk so they should erase the thoughts about having and go directly with bitcoins if they really want to get higher chance to get good profits on their investment.

It maybe hard to influence people to think about dropping their thoughts about investing on shitcoins but hopefully they would realize shitcoins is just a waste of time and can give their stress. Bitcoin proves a lot of things that's why its better for investor to think about having bitcoin first on their portfolio since this could give them more higher chance to get realistic profit especially if they aim is to save up some good amount/volume for their future.

I really don't see any reason why people still consider altcoin diversification as a thign, what is the need for doing that when supposedly all the altcoin are just an inferior idea of what bitcoin is, and worse of all its lame thinking that they is any safety net in putting money there just incase something goes wrong with bitcoin, IMO If something were to happen to bitcoin that would definitely affect every other altcoin in the same time.

Yeah we can't drag people off their will to invest in shitcoins, but that shouldn't be the main portfolio, bitcoin price is an excuse with DCA anyone can own bitcoin and still get rich out of it, I think shitcoins is an excuse to gamble and shows how short term an investor really is .

When you said investing when you have funds, will make someone not being consistent with his accumulation, it got me a bit worried, because it is when you have money that you can be able to invest in bitcoin. I don't see how investing in bitcoin when you have money will hamper someone from having good stash of bitcoin, because it money that one need to invest in bitcoin. Even if we have source of income, it is when the money is readily available that we can invest in bitcoin, because bitcoin is not sold for free in the market. Consistency comes from doing something regularly when you are able to do it provided you don't quit halfway. Let's not just think in one direction or just think on what we are used to and see it as the standard way of doing things. Let's not see people who are not doing DCA every week or month as people who are not doing the right thing. There are people who do their DCA bi weekly, monthly or two months interval, it all depends when you have money with you that you want to invest. If if you think that they are slow it doesn't matter, what matters the most is the consistency here, but the most important thing is when your money is available, when you have money, because you can't get bitcoin from exchanges without money. There is no rush in bitcoin accumulation here, it is better to do it slowly than do nothing at all.

Those that really have bitcoin in mind to invest will always do it normal how small it is, but for those who are not willing to invest will always find one excuse to give. Most times it is not as if one is very buoyant but when their is something that needs to be done we try our best to make sure it is done, this is not because the money is at hand but it was done because interest and passion. If you even check some people that are investing in Bitcoin, they are not investing in Bitcoin because they have excess of money but they understand that with the little they have as income it is still possible to take a little portion from it.  The truth is that if one does not have that understanding of how investing in Bitcoin is important it will be a difficult thing do even if you have high income. Most of us that are investing in Bitcoin it is not as if we are earning much but we understand what can be gotten fro m Bitcoin if it is invested.  Their is nothing  too hard investing bitcoin. Removing 10% from every income you have is not a big deal, it may look low but by the time you accumulate this for sometime you would see you have done something great.  As for those who may think they do not have high income to invest bitcoin they can accumulate bitcoin,  this strategy has really helped so many people to acquire some bitcoin.