Topic: Buy the DIP, and HODL! - page 25. (Read 107964 times)

Well said. Which brings forth the necessity for proper orientation about Bitcoin also highlighting the risk and mental tenacity involved. I believe Social Media, fake gurus have pushed illusion of success, fantasies about Crypto space which isn't true to the masses which makes some persons take wrong steps.

In essence it advisable, we  manage our risks.

Emergency fund is not for short term holders but those who want to hold for long term. Short term holders are more or less traders hence they don't need to keep emergency funds because their approach does not require that. Emergency fund is setup to cover any unplanned things that the Bitcoin holder may face during the time he is holding. This will enable him protect his Bitcoin from sudden sell off so it is only those holding for long that are expected to setup the emergency fund.

This thread is actually focused on long term holders as can be seen from the caption. So all the suggestions and recommendations are directed towards long term holding. To better enjoy Bitcoin investment, we should endeavour to think long term. This way we would have ample time to build a Bitcoin portfolio that will grow into something significant and the risk is very minimal compare to those engaged in short term investment and trading that do incur losses when they can no longer wait, hence decide to sell when price refuses to move.

It is not advisable for anyone that don't have money to invest in bitcoin to wait till the bear season if he has the funds to invest in bitcoin right away because he is wasting the time that is he suppose to be using to build and grow his bitcoin investment gradually after missing the opportunity of starting earlier, because you don't know what will happen in future. For instance, instead of a no coiner that has worked out how much of his disposable income that he will use to start buying bitcoin now at 58k+ constantly for very long time to start waiting for the bear market that will come after the peak of the bull run next year.

It is better not to come up with ideas that will delay or deprive you from accumulating bitcoin right away as a no coiner so that you don't end up being a low coiner after 10 years and above and start regretting how dumb you were when you hand the opportunity to buy and increase your bitcoin investment overtime. The earlier the better for no coiners to start their bitcoin investment because bitcoin price and time waits for no one since you are investing for your future.

When you are going for short term hodling, do you still need this emergency money because we need to make newbies to understand why this emergency money is very important to BTC hodlers, but for short term hodling, I don't think this emergency money is important to them because they are hodling the BTC in a short period of time before they can sell to make money. Even though you invest all your money on BTC and have emergency money that can make you to exercise patience till the bull run occur before you can sell, which is the best season many people use to sell to accumulate profits from BTC investment, but as a newbies, don't invest all your money in BTC because you need to have the experience like the old investors before you can take such risk in the future.

You can invest in BTC, whenever you have the money and you will be happy to hodl BTC because if you miss this season bear run base on, you don't have the money to buy BTC, you can prepare yourself against next bear season which is what make many people to value BTC hodling than other cryptocurrencies.

There are lots of ways to accumulate bitcoin or start from scratch. Bitcoin has big plus that you can start with as low as 1$ and there is no upper limit also. But to me the key factor in Bitcoin investment is consistency, even if you are investing 50$/100$ per week make sure you do it with consistency. There might be times when someone will have extra cash and he can invest more at that time. Such strategy will help people with low cash in getting good amount of Bitcoin (or your desired number of Satoshis/Bitcoin) over a period of time. Our first and foremost target should be to get our desired number of Satoshis/Bitcoin and then we can adjust our investment accordingly.

Maybe you haven’t seen someone like that before, but it’s really happening. I have come across different people who are ready to invest all the money they have with them in bitcoin. Just because of what they hear about bitcoin from other people, they already think that if they invest in bitcoin, they will quickly be able to increase their money, and they don’t even know they can lose when they invest in bitcoin. Most of the people who do crazy things like this lack basic knowledge about bitcoin, most of them are new to crypto, and they just follow what they see on social media.

For sure you can start investing in bitcoin with small amount of money but that will be possible if you have just enough to meet your basic needs first before you take the bold step because if you don't, there is no way to hold bitcoin when you are hungry or your family are hungry. If you are a father, you cannot bear seeing your children crying for food and feel comfortable investing the little money you have into something else and holding such investment for a long term. This is why I think it is better to consider investing only when the funds is not supposed to be used urgently, that is you can sort yourself out without resorting to selling your bitcoin.

Indeed we have another opportunity to add more to out bitcoin holding because the price is very attractive now. There is no point waiting for further dips unless the play is to continue to buy all the way to anywhere the price might decide to turn from. In my observation, the most suitable way to go about buying bitcoin under the market condition is the DCA method. This is because you never can tell if the market will be willing to go lower from this point or if it will range in that zone and start moving high thereby making those waiting for further dips to miss the chance of entering.

I see the market as offering free money now to those who can see the opportunity therein. This is because the retracement have been long and by now their are already a lot of people who have secured their position and others still doing so now.

Using all your salary to invest in bitcoin is our gambling because how will you survive or take care of your monthly expenses or how will you be able to hodli you bitcoin investment and grow it for a long period of time. Whoever uses his full salary to invest in bitcoin will run at loss because with the way bitcoin price fluctuates, you might buy bitcoin and when you want to pay for your electric bill bitcoin price have dip, you sell with no options because paying your electric bill is very important. Infact, I will say that it is lack of seriousness with life that will make any dumb person use all his salary to invest in bitcoin.

If it is not part of your discretionary income and the right amount that will make you keep your DCA ongoing overtime, there is a high odds that you will sell part of your bitcoin when an emergency arises because you will be short of funds to take care of a real emergency when it arises. When you over invest aggressively with DCA, it is a bad practice because you will end up shooting yourself on your foot by selling what your were building faster because your were in a rush.

DCA is the best for new investors but it must be done with proper cash management and availability of emergency funds and reserve funds so that you will be able to hodli for long without any problem that will may you fall back to your bitcoin as the only option.

One can cut down his expenses in other to invest in bitcoin or look for a second means of income in which he can use the pay from the second job as his discretionary income to enable him invest in bitcoin if he is willing to invest.

The minimum emergency fund covers 3 months of needs, it would be better if you have 6 months of reserve funds then it will be safe when in an emergency.
Because indeed if the emergency fund is not prepared, the BTC will be sold partly to cover the needs, especially if it is sold at a loss, it is clear that your investment losses will not grow because it continues to be disturbed by your needs.

Investing must have a stable income, especially if there are other sources of income then it is better because it will cover all needs how many percent will be available for bitcoin investment.

If income is still small increase income opportunities first or hone skills that can make you make more money after that you are ripe in investing bitcoin with its adjustments.

We have been saying it continuously and it has happened again, now that the market is gong bearish for some investors to find it more suitable for their entry opportunity using any investment strategy or pattern like buying to hold for a long time investment or DCA at this time, the both are useful in having consideration towards, though we may also need to work more better on our strategies before investing, as sometime it also help along in achieving the best of the investment plan we have set as priority to do.

No body will invest all his salary in Bitcoin it is not done anywhere except the person is insane, the money will invest in Bitcoin is our Discretionary income and what is Discretionary income is the amount of money left for an individual to spend or use after sorting out his or her personal needs, so let's get this right and you can as well use your Discretionary income to build your backup funds along side your Bitcoin and if you are done building your backup funds you can focus on your Bitcoin accumulation and even become aggressive if you no it won't affect you.

One don't need to have enough money before he can go into Bitcoin investment, if you are receiving a little salary a full month and you wish to invest in Bitcoin you can, if after your monthly expenses you are lift with a Discretionary income.

Yes it won't change your life within weeks or only a few months, but if you have spare cash then you have the choice between bunkering it under your pillow or comparing assets that you would like to potentially hold because you think they will increase in value. The thing is that you can own satoshis in bitcoin, but you can't really own a tiny fraction of real estate. I think there are some possibilities out there, but nothing grants you as much self control as bitcoin does. It is a young innovative technology and it is far more inclusive and accessible than gold is. It still seems that a lot of people are hesitant because they only want to buy tangible things that they can touch, but ever since the world went digital I think it is high time to go with the times. To not own bitcoin is probably a bigger mistake than owning at least some and learn that it was the wrong decision to buy it if it goes down in value forever. But when you see what the younger generations are willing to spend money, then it is far more likely that a digital currency will thrive. They buy gloves and swords in World of Warcraft and spend a fortune on ring tones for their mobiles. They buy digital flowers and send it to their girlfriends and most of the time the value of these digital items is zero and yet they buy it.

And last but not least the risk of bitcoin crashing to zero isn't any higher than big banks crashing to zero. I am not saying all of them, but the financial system is very fragile whereas bitcoin has proven to be remarkably robust. The interest in the bitcoin network being healthy forever is genuine, the interest of bankers for their banks to be healthy only refers to whatever terms they serve the bank. Whenever the chance comes, they will take the gamble and put tax payers and customers at risk.

The DCA method is good for those that have the interest to have good amount of Bitcoin as investment which they can use DCA method to accumulate some amount of Bitcoin. Those who really want to get some bitcoin don't wait for the dip but buy bitcoin constantly with the amount they can afford. Buying bitcoin when the price goes dip is also good and it will be an opportunity for those who use DCA method to accumulate some amount of Bitcoin. For those who only have interest to buy bitcoin during the dip they may not stand a chance of accumulating good bitcoin because you can't really tell when the dip will take place, it can be time wasting waiting for the dip to take place to buy bitcoin. But as for those that accumulate bitcoin at all market price will benefit having bitcoin even before the dip occurs.

Bitcoin savings does not require you to do more than what you can afford in a weekly, quarterly or monthly basis. If you can still have $100 weekly after spending for all your needs for that week been it basics or no basic needs and still have some reverse funds left for emergency, then putting all the remaining $100 into your bitcoin savings is a good idea. The savings should be done in such a way that when something happens, your bitcoin savings should be your last option to touch from that’s why even after all necessary things have been catered for the week, you still need to have emergency savings in case of emergency that always come unexpected or unannounced.


Other factors can also contribute to the rise of bitcoin in terms of little circulations in the future. Even though new people come into bitcoin, don’t forget that they’re some bitcoins in some wallets stack away and no access to them forever, those bitcoins can never get into circulation again which will also contribute more to the scarcity and affect the price of bitcoin by that time. People will sell after every bull season, but those sells cannot be compared to those that will be holding for many years to come.

Could you share with us how you managed to overcome it? at least we could learn from your practical experience and be informed of yet another strategy of overcoming limited cash flow in DCA bitcoin accumulation, if I am right that is what this thread is about, learning to be a good investor and more knowledge can still be grabbed by reading about how others managed to solve their financial constraints in DCA bitcoin accumulation. We grow by learning from others.

This is not only about new people joining, even old people who relentlessly continue their bitcoin accumulation journey without stop. The more bitcoin is bought and adopted by more people and also retained by current investors, the better chances of price increment. Current investors are still encouraged to keep expanding their bitcoin portfolio periodically with DCA because the more bitcoin is bought and hodl, the greater opportunity of the law of demand and supply would have its way in it and create more demand than supply and the price will keep increasing which would in turn continue appreciating the value of the bitcoin we are currently holding and better securing our financial future, so bitcoin accumulation is a collective effort of both old and new investors because our relentless purchases has a lot positive effect in bitcoin price appreciation.

If you are investing in bitcoin, then make sure you have emergency funds. Don’t invest everything you have in bitcoin, in case there is an emergency, that’s what you're going to fall back on. But if all your investment is in bitcoin, whenever you are in need of money, you will have to sell some of it, even if you have it in mind to hold for the long term, and you might even be selling at loss.
 
If you don’t have enough income yet and you know if you try to invest, it’s really going to affect you, then just forget about investment for that time and make sure you focus on other important things in life. Whenever you are balanced, then investment can set in.

As far as I'm concerned there's only one coin and that's BTC, the rest(tokens and likes )are craps, nothing else than bullshit especially when it comes to using the word Shitcoin, there were some tokens that tried to use the POW system just like BTC (won't  mention so as not to go offtopic) some couldn't meet up while some  failed  ....
Besides, it worth knowing that DCA strategy could enclosed other strategies in itself .. depending on what you see as lumpsum, someone's lumpsum could be a DCA plan for another person.

Yes, JJG, maybe that will be a wise understanding for us in managing everything to be more appropriate in investing in the long term. Of course, what I can take from your explanation is of course the accuracy of the pattern that we think is set as well as possible with the capital we have in buying Bitcoin.

On the one hand, I really like to learn from the experiences of early people who got into Bitcoin, so I give the example of those who have large capital and your answer is quite good. Even though it has nothing to do with us, on the one hand we want to learn and not make mistakes.

Yes, besides, we are still new because I haven't reached 2 years of regularly buying bitcoin. Yes it is a challenge for me to continue doing it with regular purchases every week. Cash flow can sometimes be a problem but so far I've managed to overcome it and not miss an opportunity to continue accumulating.

I remember that the supply of bitcoin is limited and if new people join in long term investment of course they will buy and hold it so that circulation will become increasingly scarce and the price of bitcoin will rise very significantly. That's just my imagination and hope it happens in the decades to come.

Actually, when investing in bitcoin, you have to consider many things, and some of the things to consider include your income and your personal needs because these two things can affect your bitcoin investment easily. Because if your income is low and you are trying to squeeze yourself just to invest without taking care of your own personal needs, an emergency can come that you will end up using breaking your bitcoin investment to solve, and in this case you might sell those investments in lost.
 
So when am I talking about personal needs? I don’t mean luxury things and other expensive life; all I mean is that those basic needs have to be solved before investing so that your investment can be saved and held for the adequate time frame needed. 

Actually investment is supposed to be done in a manner that it won't affect any aspect of our lives. Be it social, recreational and leisure aspects. Since our investment is for the long term I don't think we should neglect any aspect of our lives, because how long are you going to manage and suffer yourself for the fact that you are doing investment? It is always advisable to invest the you can in the sense that it won't ruin your other sides of life. That you are doing investment does not mean you should eat substandard food, wear inferior clothes, or leave in deteriorated house.

As you are investing make sure you are living good, eating good and healthy food, buy and wear good clothes and shoes, wrist watches if you can afford it. Bitcoin investment is structured in a way it accommodates all level of investors according to the financial capacity. Invest as little as you can afford, but don't deprive yourself the good things of life in the name of investment. You need to be alive and healthy to reap the benefits of investments in the future. If you deprive yourself the essentials of life and die along the line, someone else that didn't hustle the money with you, will be the one to spend that money you are investing recklessly in your absence.

Yes it's true that investing 100$ in one or two month won't take you to good financial status in future, but since we are investing for the long term and not short term, I think it's fine. Just imagine investing same amount consistently weekly or monthly for more than 10 years. Haven't you heard this saying before that " A little drop of water makes a big ocean".