Topic: Buy the DIP, and HODL! - page 24. (Read 121640 times)

The dip is not always certain until it occurs I still wonder what made you believe that it will dip on your mentioned date.

The emergency fund is not what you will use to accumulate Bitcoin, emergency fund is when an unforeseen circumstances occur you could use your emergency fund to sort it out with out selling out your Bitcoin hodling for is your discretionary income you will use to buy Bitcoin.

For there is no right time to buy the dip for it may not even occur so why keep waiting and miss out more opportunities in the market when you can actually buy Bitcoin with your DCA strategy which allows you to accumulate Bitcoin weekly or monthly irrespective of the price and hodl for long.

Buying during the DIP is definitely a good idea, But Not everyone can buy during DIPs. Everyone has their  choice of investment strategy and their own approach, its important to stick to what aligns with your aims and the available funds at your disposal for accumulation. A lot of folks prefer the DCA method to accumulate consistently because it saves you from market timing stress.

It is not crystal clear to say or being certain on the outcome of the market according to yout statement, Trying to peg days on how Bitcoin is gonna work can be a disappointing approach. Our approach should be on how to accumulate and grow our portfolio. As soon as you have been in this forum and you ought to know that Emergency funds are not used for buying bitcoin rather for unforseen events. Maybe you are mistaken reserve funds for emergency funds  and having a certain date for dip is wack.

What makes you think there's going to be a dip on the 25th of October 2024 or are you just guessing?. You are begining to sound like a newbie who doesn't understand how Bitcoin works while you are a Full Member in the forum, though nothing is impossible I mean Bitcoin is a very volatile asset and it can be possible that it may dip on the 25th but that's not how to go about Bitcoin investment, if you really want to increase your portfolio you shouldn't be waiting for dip before you invest and also stop specifying dip date because you may be disappointed. DCA method is very much effective, you don't need to have enough funds before you accumulate and I don't think there's any specific amount while DCAing rather our investment money depends on what we get weekly or monthly that is to say that there can be a decrease or increase in our weekly or monthly income.

I actually commend you  @justbillywitt for putting him in his place, no one is certain of what tomorrow brings, so he shouldn't be saying what he said, and to me, they are all wrong.

Then as on the aspect of waiting for a dip before making a purchase of Bitcoin, I really do think it's a wrong strategy of accumulating Bitcoin because by waiting for the price of Bitcoin to go deeper you might miss a whole lot of buying opportunities that presents itself, so it's best to buy Bitcoin now regardless of it current price, because   we are still in it early days, it's still very cheap considering how much it's going to be in  like 10 to 20 years time from now.

And as for the emergency funds, bro you were actually spot on when you made it very clear too him that it's not meant for investing, it's only purpose is to serve as shield against anything that will make you temper with your holdings, not for investment of any kind.

Then lastly, concerning the statement I made bold, I actually don't think it's necessary, you don't have to be abusive when correcting someone, I believe that we all are still learning and correcting him was actually the best thing you did, but abusing him in the process is actually not nice.

This is one of the most lame post I have seen for a while now. You are sounding as if bitcoin is operating according to your timing and you can control the market at your own will, to know the right day and time to buy the right dip. Lol..You ain't even sounding as if you are speculating, rather you are talking with all boldness that there will be another dip on the 25 of this month. If you possess this power, you would have become the richest bitcoin investors in the world by now. Which one is the right dip if I may ask? You have to be plain when making use of certain words because we have newbies and learned minds here, so don't confuse yourself. Bitcoin dropped from $69k to about $65k and you think that's not dip enough, in a bullish month like October. And you are waiting for the right one according to you. And to make things worse, you even gave a time for that to happen? So you are trying to tell us now that any price that bitcoin will be tomorrow will be what you call the right dip? Going by your little brain. Another thing is that your emergency funds isn't meant for buying the dip, because the dip is not an emergency.

Not only ignorance, greed is one of the major traps we set for ourselves that helps scammers exploit us. Done people have such knowledge, but they're too greedy tho apply it where needed and as such are ready preys to month watering offers by scammers which directs them to the phishing sites. Avoiding public WiFi networks is also important as our data is very much vulnerable to the hosts of such network and also malwares can be injected into our devices over such network.

And no matter how informed you're, you need to regularly update yourself on security of your assets because scammers are getting crafty everyday and you wouldn't be safe for a long time banking on outdated knowledge

This is wrong, whether the investor stays focused or not on his Bitcoin accumulation process without considering shitcoins, as long as he initiates behaviors that are likely to get him hacked, his investments would surely be compromised and I think our pattern of engagement and wealth of information on online security principles keeps us safe from scammers and not our choices of investment.

We always have to be objective, we can never use emergency fund to buy Bitcoin Deep. The main purpose of emergency fund is to deal with unexpected situations like car repair, family medical emergency, emergency fund is very important to meet any unexpected situation and keep your investment intact during inflation. Because the monthly or weekly expenses of each family increase greatly in During inflation, it becomes difficult for many to maintain the consistency of investment during that time, so it is always important to be prepared. If an investor does not organize a emergency fund, you will be forced to sell your bitcoins hold in case of any sudden unexpected financial loss, which is very risky. So it is imperative to keep emergency funds to meet such unexpected emergencies and to continue holding this investment continuously for long term.

Again if you are planning to continue your DCA as well as buy a dip, then keep an emergency fund as well as a reserve fund. When the price of bitcoin suddenly drops, you can use that reserve fund to buy bitcoins at a lower price and increase your portfolio more, but you have to buy this dip only with reserve funds and not with emergency funds. The funds must be spent on that work for which you put your funds. (not dealing with emergency situation with reserve fund) and (not buying dip with emergency reserve fund). We must stick to the purpose for which we seek the funds, i.e. buy dips with reserve funds and use emergency funds only to meet urgent contingencies. Emergency fund for other works or reserve fund for other works cannot be used.

So before starting investment everyone should focus on building an emergency fund first, An emergency fund should be kept to last at least five months. This will protect you financially this five months and you will be able to hold your investment with peace of mind.

And reserve fund is also very necessary to invest in Bitcoin, in short, having a reserve fund and emergency fund to invest is a prudent financial plan, it ensures investment stability and personal financial security. As a result you can continue your DCA procedure uninterrupted for a long time. And you must build a strong source of income to continue this DCA regularly, so that there are no interruptions in your DCA operations or threats of stopping the DCA.

I frequently suggest that guys attempt to invest into bitcoin as aggressively as they are able to without recking themselves.

Of course, guys might not know the meaning of those words, so in the end, it is better to invest in a way that the guy does not end up having himself forced out of the game, partially or in total.

The more aggressive that anyone tries to invest into bitcoin, the more important it is to have good and solid ways to assess cashflows and discretionary income in order to not overdo the investment, ssince it is better to stay in the game rather than to get forced out of it because you fucked up and over did it.

Each person is responsible to figure out his own situation and how aggressive that he is able to be, so frequently it is better to error on the side of having a cushion and not being too aggressive until spending some time learning and practicing in regards to carrying out a reasonable investment system, frequently DCA can come in quite handy to attempt to figure out reasonable boundaries.


I doubt that bitcoin is merely #1 because it started first.  I would not even claim that bitcoin remains on top because it is perfect, since bitcoin is not perfect.  So far, nothing has come along that has been a sufficient enough improvement over bitcoin in order to take away various network effects.  It surely is possible that something could come into place that is actually sufficiently enough better than bitcoin in order to remove it from its currently top position, yet surely I have my doubts.

At this point, since bitcoin is at least 10x and even more than 10x better than gold and better than the dollar, bitcoin is going to continue to take market share from each of those and both of those... so the process of bitcoin taking away market share from various inferior incumbents is ongoing and may take 50-200 years to play out.. even though we might also have gradually and then suddenly, that could cause such transition to take place more rapidly.

Surely something better than bitcoin could come about.. but why?  bitcoin is doing a pretty damned good job right now.. and surely, even bitcoin is being tested out to be able to determine whether bitcoin is really truly more than 10x better than gold and the dollar, and people (the market) is figuring out these matters, and hopefully those of us who are investing into bitcoin are experiencing the benefits of being able to identify bitcoin as the superior asset and currency as compared with those inferior forms.


Sure, you might consider bitcoin to be inferior or to have some defects in regards to some inabilities to have all of the world's payments flowing through its first layer, yet bitcoin still seems to be functioning pretty fucking great even if guys like you are whining that you cannot use it to buy a coffee... If I have a wallet and you have a wallet and we are in parts of the world in which some people or governments do not want us to transact, yet you and I are able to communicate, and I want you to send me $300 million in order that I can hold it for you or perhaps for some good or service that I am providing to you, and what the fuck are you going to do?  Are you going to try to send me that transaction with less than $1 fees?  Surely you may well even be willing to spend $1k in fees to make sure that I get that transaction right away, and no one can stop you from sending it to me as long as we are able to communicate and I am able to give you a receiving address.  Isn't that powerful?  and I don't give any fucks if the fees are $1 or $10k, I may still want to be able to receive your transaction without anyone stopping me.

Now you might whine and say that you would prefer the fees to be lower, and so yeah, the extent to which we might become concerned about the fees has to do with how much we want to send, and if you were sending me $10k rather than $300 million, then I may well want to ensure that the fees are less than $500, since even $500 would be a 5% fee, and perhaps I would want the fees to be less than $100, which the fees would be less than 1%, and partially the fees have to do with how ,much traffic is happening on Bitcoin's main chain, but the fees also have to do with whether you have the total balance that you want to send me in one address or if you are combining several addresses in order to be able to achieve the amount of value that I am wanting to receive.  Of course, with the earlier amount of $300 million, that is nearly 4,500 bitcoin, so it surely could be logical that you would hold that in several different addresses, yet $10k is merely around 0.15 BTC, so it could well be the case that you have all of that amount in one bitcoin address, yet how folks have their bitcoin (UTXOs) divided and/or managed could affect the fees that they are paying for transactions to go through and how quickly they would like the transactions to go through.


Sure there is power in bitcoin in regards to peer to peer, yet if we are engaging in lower level transactions such as less than $100, we may well want to consider second layer methods in order to compliment the power of bitcoin that likely has to do with the higher level abilities to move greater levels of money around rather than the smaller transactions.

I am not trying to poo poo the ability of poor people to transact with bitcoin, even though some of these lower level transactions might not be reasonably to expect to be done onchain... so there may well be lightning network and/or other kinds of second layer methods that might help with those kinds of transactions, including that sometimes some folks will also use shitcoins to make those lower level kinds of transactions, which does not necessarily discredit bitcoin's power as an underlying mechanism that might not be as useful and reliable to carry out some of the lower value transactions, which also is going to vary with the passage of time which levels of BTC amounts are economical and/or feasible to send on chain versus using some other way to send whether connected to bitcoin or using some other value transaction mechanism.


Yeah.. fuck shitcoins and their dumbass talking points about bitcoin not being good enough and/or powerful enough, when bitcoin has already won in terms of certain kinds of transactions not being stoppable, and just because some of the smaller transactions might sometimes have some difficulties does not undermine bitcoin's already existing unstoppable power when we have two parties with private wallets and the receivers ability to communicate his receiving address to the sender... and yeah, we might be needing to talk about more than $100 to really feel the power of such ability to transact directly and no one being able to stop us and it makes even more power the more that we are able to transact, as the higher level examples of anywhere between $10k and $300 million, and points in between and amounts higher and lower than that range as I already mentioned..


Certain family relations include fiduciary duties, and surely there can be folks who are not very responsible fiduciaries and/or not very good care takers, and there can be messed up relations (and unfair situations), so we cannot necessarily presume that each person can do whatever they like when they have responsibilities and/or duties that they may or may not be good at carrying out or understanding how to effectively balance, especially if they might also be dealing with a person (or persons) who may or may not be very agreeable in regards to investing into bitcoin (or how to manage bitcoin, as an investment and/or as a family asset - or do you want to say that it is not a family asset, which is not always clear in regards to who actually owns the asset.. we cannot resolve these kinds of questions (or potential disagreements) in this thread).


Hard to know.

might never happen again, or maybe it will? 

I am not going to proclaim to know, but like you suggest, it does not hurt to buy such dip, just in case such price levels never comes back ever again.


Fuck off with your factually inaccurate idea that bitcoin can ONLY be modified with the agreement of Satoshi. 

Satoshi has been dead or not around since late 2010, and bitcoin has continued to survive and has had some modifications since Satoshi's disappearance from the project, too.

I don't claim to know a lot about various technical aspects of bitcoin, yet it does not seem to be the case that bitcoin has yet ossified, yet I am not completely sure what would happen if it did, since sometimes bugs and/or problems could be identified later down the road, and there likely is some value in regards to various technical people knowing how the code works to be able to allow consensus to take place if some changes might end up needing to be made, so then the nodes have to agree to run the changed code in contrast to their running code that might have some issues.


I doubt that it makes much difference if you buy your 0.001 BTC at $65k or at $69k. .. It is either going to cost you $65 or $69.. no big deal.

If you happen to be buying 0.01 or maybe even 0.1 BTC, then the numbers are a bit different and it might cost you $650 or $690 or maybe with the higher amount it costs you $6,500 or $6,900., but still I doubt that it matters very much if you happen to end up buying at slightly different prices and you are not able to capture the dip in terms of your BTC purchase this time around.

Let's say with your forum registration of August 2023, you have been buying BTC weekly, and so whatever is your BTC purchase amount, you might be buying 1/60th the size of your stash, since you have already been buying every week, and surely someone else like Greyhats has been accumulating BTC since May of 2021, so whatever happens to be his purchase amount on this week, since he has been accumulating BTC for close to 180 weeks, so maybe whatever his purchase amount it may ONLY rise to the level of (at best) about 1/180th the size of his whole BTC stash, and perhaps even smaller than that..so the longer that we are accumulating BTC, then each incremental additional purchase is not really adding great amounts to our stash, even though we may well be continuing to chip away at stashing a larger and larger stash so that we are coming ever closer to the potentiality of reaching some kind of a BTC stash size that we might start to consider to be approaching our entry-level fuck you status or whatever target we might be working towards reaching.


Dips are not guaranteed to come.

As you mentioned, dips might come and they might not, and they might be greater than today's dip and they might not.  They also might not ever dip again in terms of we could enter a stage of going up without dipping back to our current prices, ever.  We cannot really know with any confidence, even if there are people who say bitcoin always dips, which is true in the abstract, but it does not mean that it is going to return to its price right now and it does not mean that it is going to dip down to prices that were witnessed earlier today.  The bitcoin price might go up to $80k and then dip back down to $75k and that is an actual dip, but it does not do any good to guys who have been fucking around and failing/refusing to buy in the past year...or whatever timeline that they have been waiting for bitcoin prices to come down... Remember last year around this time, BTC prices were around $26k, and there were quite a few guys waiting to buy and even proclaiming that BTC needed to revisit $20k, even though the 200-WMA was around $28k at that time.. ..so yeah, sure some of those guys might have bought in the last year, but some of them are still whining about the BTC price going up rather than down and/or about their previous failure/refusals to prepare themselves for up.

Otherwise I agree with your point about no need to have regrets, since either we are ready and able to buy BTC on the dips or we aren't and I doubt it is a big deal in the whole scheme of things and the whole scheme of bitcoin accumulation, as long as we are mostly accumulating BTC in the event that we are considering ourselves to be in the accumulation stage of our bitcoin journey.


As-Soon-As does not need to have 3 months emergency funds prior to investing into bitcoin.  If As-Soon-As is somewhat new to bitcoin investing (only a little over a year according to his forum registration date), he can build up his BTC investment and his emergency funds at the same time.  I frequently like to suggest to newbies to build up the BTC and the emergency fun at the same pace, so if he has gotten to  2 months of BTC investment then his emergency fund should be at least 2 months, and once his emergency fund gets up to 3 months, then he has a bit more liberty to be more aggressive in his bitcoin investing, even though 3 months might not be a lot of cash reserves to have, depending on how reliable the income and/or the steadiness (predictability) of the expenses.

Emergency funds are not meant to be used for buying the bitcoin dip. Emergency funds can only be used when you have an unforeseen problem. For instance, if you are accumulating bitcoin and you have a car repair and you don't have any available funds that would help you repair your car, you can depend on your emergency funds to repair your car. You speak as if you are very certain there will be a bitcoin dip on the 25, 10, 2024, but I want you to know that no man can correctly predict the price of bitcoin and you are trying to time the bitcoin market, which is not good for someone who is accumulating bitcoin for the long term. If you are interested in buying the bitcoin dip, you can do that anytime it happens, and you have the right funds that would allow you to buy the bitcoin dip without messing up your bitcoin accumulation plan. Since you have small emergency funds currently, I will advise you not to be concerned about buying the bitcoin dip now and to start working on your emergency funds so that they can last for at least three months or more. Because emergency funds play a vital role in our bitcoin accumulation journey, and it's one of the things that will help us hold our bitcoin for a long time.

Your decision seems to be completely stupid because how can you correctly predict the market that the market will dip on the 25th. Now that you have mentioned the date, I have a question for you, if you don't see that potential dip time, will you stop buying bitcoins?
As you scroll through the few pages here, you will hopefully understand correctly that it is not necessary to wait for the dip period to purchase Bitcoin. Moreover, you said that you could not invest due to lack of emergency funds. In fact, buying bitcoins in a lump sum with emergency funds that means buying bitcoins all at once with the available funds you have.
No need to regret the time you missed buying Bitcoin. Because you missed the deep time now, you will definitely get that chance again in the future. But it's even better if you keep investing by buying bitcoins continuously instead of waiting for the dip season. The way the market is currently, don't think it can go down any further from here. It should be said that the market may go up from here so I should buy now.

Are you presuming to use emergency fund to buy bitcoin? I guess what you mean is discretion because emergency fund is not for investment but regularly set aside for unfuseen circumstances. And Morover buying the dip should not be fixed as you said that you have your date. What if bitcoin doesn't dip that day or that week? Buying the dip as far as I know has no fixed date but could be bought anytime there is dip provided you have discretion fund readily available.

There is no point regretting on missing out on a particular dip because dips never end. Surely more dips will come and may even come at your advantage than the previous. Sometimes we regret to have missed a dip -%10 today not knowing that it might dip by -%15tomorrow. Since bitcoin is volatile there is no need to worry much if previous dip has passed or not.

Perhaps I have no clue of what your are saying because basically your sentences are quiet vague, are you in any way trying to compare the original protocol to any copy that is filtered to decieved it's users with a term in which they call utility value that solves a problem that in its original form is okay but for the justification which people like you seek needs to be considered and be satisfied with some shitcoins to replace what can not be replaced and has never been second to none since it's originally launched. Folks only try to find what seems to look like a problem to create a solution that would be sold to folks who also desired them for a sole reason of get rich quick scheme.

In the first lines of your choice of words, I put it to you that bitcoin is not a trend. Bitcoin is bitcoin and it's a paradigm and a paradigm means a beginning of a new way of thinking or doing things, the world has been tied to a type of currency that is called fiat that can be manipulated and a copy can be printed over and over again making billions of cash every day and deviating the real definition of money which is scarcity hence bitcoin has a been definition of money and this fiat system obviously crashed all over the world and a paradigm was created by Satoshi, this paradigm solves the problem of world financial crisis of 2007-2008.

With this huge difference I see to reason why folks will keep comparing a series of coding or programming languages to an original and paradigmic currency to all sorts of shitties that we have in the space today.

Perhaps the bitcoin standard can't even be changed with Satoshi alone anymore it was possible when bitcoin has not been published but now it's decision of changes lays in the hands of everyone which is the decentralised system that makes it unique,you want any changes in the bitcoin standard you will have to submit a proposal and it's considered by the users which includes you and I before such modification can be made. that's is a true nature of decentralisation and that's what bitcoin stands for.

Due to lack of funds and dip wise my investment did not come due to which I could not purchase. But I have my dip purchase date on 25,10,2024, because the emergency fund I had is very small. 
So currently could not buy this 65K dip at most, only 2 more days will be available so I can buy the right dip at the right time.

The sun was simply created by a perfect being biblically but atheists might have a different view of what it seems. Bitcoin on the other hand was created by man, it is bound to limitations because everything man has created cannot be perfect. 99% of success rate and 1% of failure in the best case. With that being said Bitcoin has assured many that it cannot be remodified and it will do perfectly fine. Yet it is still affected by some factors that are considerably a problem at some point in time. I still can't believe this is the best of Bitcoin, in as much as we dont need any modification unless Satoshi himself makes the changes. There is more Bitcoin can do, it can be modified in several ways that will bring more benefits to us. Still, no one else should be allowed to unless Satoshi himself or even no modification should be done at all.

The use of the word Crypto in your explanation could be confusing to newbies for you can probably use them by calling Bitcoin Bitcoin and shitcoin shitcoins so newbies could get more picture of what you are talking about.
It is important to have some basic knowledge before Investing into Bitcoin as waiting to get all knowledge which is impossible before investing into Bitcoin could be a time wasted for it is good to get started and figure out more along the line as time proceed.

Bitcoin is the best coin to invest on as long as your investment plan is for long time purpose I don't think there is way a an investor will loss his money when be invest on Bitcoin and HODL for long.

With the DCA strategy you can buy Bitcoin all time irrespective of the the price of Bitcoin and HODL for long people will still accumulate Bitcoin even if it hit 100k and more you shouldn't only focus on Bitcoin dip before accumulating Bitcoin the dip should only be an opportunity to accumulate more Bitcoin.

Hope everyone bought the dip, might be the last time we see 65k for a while!

Actually when talking about support I personally feel lucky because even I know bitcoin and moved from hating to someone who is and recognizes bitcoin thanks to my closest family but there is or is not actual support it does not matter in my opinion because in the end when talking about bitcoin adoption it comes back to each person and everyone has no right to intervene in what is done even though it is family.

Even though his views are different as long as it is not a problem and does not harm then I don't think it will have a big impact even though maybe this should still be discussed but in the end the decision of course we have to take ourselves and other people including family even though they don't like or don't support it shouldn't change the stance.
Bitcoin is for everyone but not everyone can be successful and know what bitcoin is.

Anyway we just need to be patient and keep accumulating Bitcoin along our journey, buy dips are certainly good when the price is correcting in the last two days, Yes it's just a small correction because we will go back up until the end of this year. How is the Bitcoin accumulation that ye have gone through, have you found any obstacles, for example about delayed accumulation. I have postponed several accumulations because at the same time I was on vacation and did not bring a PC so I missed the purchase. But for me it was not a problem because I covered the delay with purchases at dips.

And to what extent is the family's support for the investment you made, do they support you or do they not support you. The investment I made was only known to my wife and she was quite supportive of my choice to invest in Bitcoin. I even want to teach her about how to invest in Bitcoin, she must be able to do that because one day when we die then she can follow up or she can withdraw the Btc that we have save.

Well, you can say that just because Bitcoin had retained that top #1 spot in the market after all the years we have here on this crypto space or market on which it will really be that something understandable because anything which is really that in first of its kind then it will really be automatically considered to be the start of the new trend. Everything will really be that basing up into community support and recognition. Going back into Bitcoins features then it does work and could be able to do things accordingly or something that do speak about its utility but we cant be able to avoid not to say that one of the issues on which we can be able to say towards Bitcoin is into its scability issues on which it cant be able to handle out huge transactions on which once the network having that kind of spam transactions then fees do goes up into the roof and thats one of the main reason on why it cant be possibly be applied as a main payment option or something that will really be in main usage because of that issue. Somehow, we can be able to see that network conditions
doesnt always clogged off on which it will be resulting into that high fees. Most of the time it will really be sitting around few cents upto dollar which basing up on the network condition.
If we do really tend to look around then there are other projects is way more than better when it comes into features but still its not that enough on trying to dethrone Bitcoin into its place.

And I don't even see such changes happening around bitcoin, no matter how many times people keep trying to see if they can bring about such improvements. There are some inventions/creations that are deemed to be perfect, and till eternity they will remain vital to humanity without even the need to go through any modification. And any attempt to remodify them will always be fruitless. For example since creation till now has there been any attempts  to remodify the sun from it original form?  I don't think there  has been, because it is perfect in it's original form. This is how perfect bitcoin is, so any attempt to remodify into something else won't every work. Bitcoin is a perfect invention and has left no room for remodification. Any attempt will always end in failure.