Author

Topic: Buy the DIP, and HODL! - page 252. (Read 108987 times)

hero member
Activity: 1666
Merit: 701
February 09, 2024, 06:37:04 PM

Job security has to be considered too when someone has finally decide to start his bitcoin investment journey. One has to be certain that your job has to be really secured, and not a kind of job that won't last long. Job security should not be underestimated because if you have chosen to invest through DCA make sure that your job or source of income isn't something that's going to be terminated on a short run.
  yes one can actually loss his job, that is life full of uncertainty, but at most time it is advisable to have passive income streams which one  of it's enormous benefits is that it reduces the fear of job loss. It will become more easier for an individual to reach his financial goals when having a multiple streams of income by achieving them much quicker than if there was just one job, it helps in ensuring that you have a consistent and reliable source of income and at same time giving you that emotional rest needed to manage your asset properly.
In everything that we do in life, we should always have a backup to them, this will prevent us from suffering huge loss on them under any circumstances unforeseen to us, Ive seen someone having his job and still making bitcoin investment by trading partly, when he lost his job, then he fully have enough time to engage into trading in full, there's no much vacuum created as a result of loosing his job.
The security of our assets should also matters to us in a very big way, we cannot afford making silly mistakes with our investment funds when we are just thinking only in one direction.
Back up plans include emergency funds, and/or also other possible ways to earn money.. so we have to have some ideas about our cashflow and expenses situation to figure out how large we might need to keep our emergency funds and even some of our expenses might be discretionary too. but some might be somewhat sticky and not easy to change.
Yes and emergency fund is something that should not be ignored and should be considered even should not be missed when you really participate and get involved in bitcoin accumulation, having an emergency fund along with having some way / place that really earns (outside of accumulation) such as for example having income from other things or other sources whether it's income from a shop that you have or a part-time job will make it easier for you to achieve a good balance in terms of finance, and other sources will be a second support for the bitcoin accumulation that you run when you really lose your main job and I would say that you have a pretty good situation to start / maintain and continue to run your bitcoin accumulation if indeed you have more than one income. On the other hand, in my opinion, the amount of emergency funds that someone should have when they have started to get involved in bitcoin accumulation, honestly I can't be sure what the amount is but certainly try that at least that amount is enough to finance your life for the next 3 - 5 months including the amount of allocation for your bitcoin accumulation so that there is no delay / vacancy in the allocation.
hero member
Activity: 1358
Merit: 627
February 09, 2024, 05:02:08 PM
Perhaps this is the reason why holding is the best because it allows you to have a rest of mind and free from emotional troubles of having to lose your funds because of trading, actually considering the risk involves on Bitcoin trading I wonder why most people always choose to trade because irrespective of the little profit they will get from trading or if at all there would be any, it can never be compared or measured with there Bitcoin investment if they will hold it for a long term. However DCA has been very helpful in guiding investors on the easier ways to accumulate Bitcoin.
Of course, long-term holding is one of our goals in investing in Bitcoin. I have seen many of them who have been investing with the DCA strategy which is the best strategy choice because we can focus on buying continuously regardless of our purchase price. Yes, one day we will see our BTC holdings become bigger and this is where our level of patience will be tested in long-term investments. Success certainly does not come quickly and takes time and that is our investment journey where we will reap the results when we are satisfied with the amount of BTC we have collected.

Buying regularly will make you more confident in your goal of investing long term in Bitcoin. Some of my friends where I live invest in bitcoin for the long term where they buy immediately and don't often check the price every day but instead they open the market when they make another purchase. I was amazed by what they did because they planned to apply their investments for the next 10 years and some were targeting their for old age.
sr. member
Activity: 406
Merit: 268
February 09, 2024, 04:01:40 PM
I also think like that because logically, people who are trying to collect Bitcoin and hold it for a long time don't immediately think about selling in the near future, so it is very feasible to use the DCA method in that case. Meanwhile, trading is a very different job from collecting because the people who trade in the market are people who are targeting profits in a short time or quick profits in a certain amount so it cannot be compared to people who are collecting Bitcoin by run the DCA method.
Clearly, trade and DCA have different meanings.

Trading has a high risk of short-term profit and you are like risking your money in the market, when the price goes up you profit when the price goes down then you will lose then it is trading.

Accumulation with DCA has a very low risk, in fact I dare say there is no risk if you do not sell bitcoin midway due to emergency needs.
With DCA you can have an average price because DCA purchases all the time from the price going down to going up if the time is for the long term then it will continue to do that task if you are still able but I believe using DCA in the future will have better results than trading.
Perhaps this is the reason why holding is the best because it allows you to have a rest of mind and free from emotional troubles of having to lose your funds because of trading, actually considering the risk involves on Bitcoin trading I wonder why most people always choose to trade because irrespective of the little profit they will get from trading or if at all there would be any, it can never be compared or measured with there Bitcoin investment if they will hold it for a long term. However DCA has been very helpful in guiding investors on the easier ways to accumulate Bitcoin.
member
Activity: 210
Merit: 68
Bitvest.io★ Play Plinko or Invest!
February 09, 2024, 03:17:40 PM

Some times it takes these losers a very long time to realize their mistakes.  I have a few friends who I sent a decent amount of bitcoin at various points between late 2014 and late 2016, and so you can imagine even relatively small amounts in dollar values are ending up to add up to quite a bit in times like this, and I even made some statements to suggest that they need to be guarding what I had sent them and maybe even buy some more of their own.. and sometimes they did both of those but then later down the road they lost courage and sold all their bitcoin.

Sir from this experience I think the journey of accumulating bitcoin and holding is something that everyone must do for himself. People who are pushed or motivated to accumulate bitcoin by other persons who have not gotten to believe I bitcoin for themselves or made the decision to hold bitcoin would not have the discipline or courage to do it. I also think everyone should learn from this, we might all be motivated to accumulate bitcoin because of this thread and how everyone is here for each other, but what about when this thread is no longer here, are we going to be able to continue with our accumulation and holding journey. Everyone of us must have that passion to do this and I think that's the starting point of everything and only when we have made the decision ourselves can we really hold bitcoin for long.

I really don't think job security is paramount here in things to consider before investing into Bitcoin, because in life anything can happen, even the job you feel that is secure, they might just lay you off for no just reason, because life is unpredictable, and that is more of the reason why we should not play with our savings and emergency fund, because that is what going to keep you going till you get another job.

A job is definitely needed to keep bitcoin investment right, if you are out of a job then you can decide to sell your bitcoin holdings if you face any danger. So this is why the job is special, you can keep your investment active in the Bitcoin DCA method with a portion of the income from the job. There must be an external source of income to meet basic human needs. Bitcoin holdings would not be sustainable for long without eros.


I think the appropriate thign to say is that emergency funds is a must for us not to sell our holdings, cause loss of job can also be considered as an emergency and in a case like this, we can use our emergency funds or reserves to back up our accumulation plan and find a way to get a job.

But I don't know how potent the advice to use emergency funds to continue investment when our job has some issues is cause what if it takes longer and we finish up our funds and then a real emergency happens like health challenge or any thign that would really cause us to touch our bitcoin holdings occur, at that point what do we do?
Sir Jay a little help here 🙏


Recently we saw a dip in Bitcoin where the price of Bitcoin dropped to $39,000 which may be the highest dip before the upcoming bull market. For those looking for a desired dip in Bitcoin from the current position, I think this is the last dip. This may be the last chance for investment from the dip. Many of us may think that Bitcoin will go back to previous levels and buy from the dip. Let them know that 2017-2020 dip is extremely difficult to find and may never be possible again. Many investors who didn't get the chance to buy on the dips have regret for the day. Today's current prices may give similar things for some in the next few years.

Those looking for dip, change your mind. Dips are not always possible. In the case of Bitcoin, the price that seems high today may be the same price will be dip for tomorrow. If we break out of this dip and do DCA then we will have the opportunity to buy from the dip and increase the Bitcoin portfolio.

IMO i think those that are still waiting for dips would always be that way if they don't come to realise that they is no right time to invest in bitcoin, yes its true that good opportunities has been missed, but waiting for them to come back is hilarious and might not happen, cause playing with uncertainty is a kind of gamble.

Those that are waiting for the last dip would never invest in bitcoin, they would only continue to miss out on all the best opportunities in front of them, its better to start than to wait for a future that might never happen.


Financial advice is very often aimed at Newbies because of their limited knowledge in this industry

I don't agree with you, cause I don't think there is any Mr know it all in this journey, even experts sometimes makes mistakes, yes I might be true that newbies need the most advice, but I also think everyone can take advice, no matter how long you've been in the journey
sr. member
Activity: 406
Merit: 303
The great city of God 🔥
February 09, 2024, 02:53:30 PM
You are right because the real reasons why Bitcoin was invented isn't only to stand as an investment strategy but rather to stand as a decentralized medium of performing transactions from person to person (p2p)[/b] directly without involvement of a centralized authority and also to replace the use of fiat so by accumulating bitcoin in other to make profits in the future, we are also acquiring it to stand as a medium of exchange from one person to another.
Please note I am fully aware of the importance of Bitcoin aside from a store of value, though it is used as a P2P transaction or it is also used as medium of exchange. But the fact still remain that Bitcoin holding is very important and should not be underestimated. You can use bitcoin for transaction either P2P or as a medium of exchange of buying and selling. but what more important does it provide again all usage? It is definitely a good store of value. Your monetary with in life is measured by the amount of valuable volatile assets you have which could be you stepping stone in old age. I think when you are talking about bitcoin you should remove you mind in the primary aspect, which is the use for exchange in form of fiat. But think of how important it will be while HODLing for a long time.

How would you feel when you are in your retirement age and your long term bitcoin holding now becomes your redeamer? Because that is exactly what it will be. by then you will no longer think of holding rather using it gradually.
sr. member
Activity: 98
Merit: 55
February 09, 2024, 02:25:22 PM
There are probably better HODLers than me, and I consider myself a bit of a contradiction because ever since mid-to-late 2015, I started to put into practice a sell on the way up strategy, and when I first started doing it I made quite a few mistakes, but I have honed my system several times over the years.. and there are quite a few members who criticize me for such practice with claims that I should not sell any of my BTC, even if I am saying that I have it already figured out in such a way that I can sell and that I never will run out of BTC.

Every Bitcoin investor will, at some point, think about how to liquidate part of his assets for the funds to be used in other things that make life worth living. The selling can be in such a way that the investor does not run out of BTC, just like JJG recommended in his withdrawal strategy that I am still going through. Many of us may not know the power behind that piece of information because we are still probably in the accumulation phase. But a time will come that we will need something like that to be able to withdraw some of our Bitcoin without harming the entire portfolio.


Just like you said I think it's not very wise we start looking for withdrawal strategies on our early stage of accumulation especially when we haven't even gotten to our goal or the time frame we set. In his case he is doing this because he has over accumulated to a point that he can apply such strategies and we should also try to understand that it took years of experience to get there,  to play around with our Bitcoin would not be a good choice and would lead to regret, so it's better we stick to our plan and when we have been in the game for maybe longer than 10 years maximum and maybe 6-7 years minimum, we can start applying such strategies, which I my own opinion still needs a level of practice to get right.

Recently we saw a dip in Bitcoin where the price of Bitcoin dropped to $39,000 which may be the highest dip before the upcoming bull market. For those looking for a desired dip in Bitcoin from the current position, I think this is the last dip. This may be the last chance for investment from the dip. Many of us may think that Bitcoin will go back to previous levels and buy from the dip. Let them know that 2017-2020 dip is extremely difficult to find and may never be possible again. Many investors who didn't get the chance to buy on the dips have regret for the day. Today's current prices may give similar things for some in the next few years.

Those looking for dip, change your mind. Dips are not always possible. In the case of Bitcoin, the price that seems high today may be the same price will be dip for tomorrow. If we break out of this dip and do DCA then we will have the opportunity to buy from the dip and increase the Bitcoin portfolio.

I agree with you on this many people are busy waiting for the final dip forgetting that gone are those days that bitcoin would fall to price like 15k or even lower, even as this might still happen, who can predict the future of the market? .

The point here is that there is no right time to buy, and waiting for dips are pointless, from all we know any price lower than the last ATH Is a dip and a good opportunity to buy, while buying on dips might be profitable and good to take advantage of, its also good that we start our bitcoin journey at whatever price we find ourselves and start our accumulation journey.


That's how important that we familiarize bitcoin characteristic so that we will not get panic on the little drop happening since bitcoin would surely recover after correction happen.

For sure there's a lot of people learn something from past price occurred where bitcoin dumps so bad but now it recover at $46k and it slowly reaching at $47k anytime today. This mean that if we encounter some negatives on our portfolio we should not get panic since its just a paper loss and there's still a huge chance that we can recover that's why we should not get panic in those situation and continue to use bitcoin normally as if you want to invest or trade it.

We can see now how lucky those people who accumulate at $39k price since at short time span they are already gaining a lot especially if they accumulate huge volume at that time also there's big potential that they can even earn more from this since bullish run for bitcoin is I think bound to happen.

IMO  I also think it's best for us especially newbies like me to focus mainly on using our DCA pattern to accumulate bitcoin since we don't have to bother much about market volatility and we know that we are planning to accumulate and hold bitcoin for the long run and not as short term investors that are after quick profits, and using the DCA method would also help get acquitted to the price changes in bitcoin without fear or panic and also help us to build patience and discipline as investors.

DCA means buying bitcoin at fixed or smaller amounts at a regular interval irrespective of the price and this means we don't need to bother about corrections, up trends or down trend as investors our major aim and focus is all about building our portfolio and also preparing for emergency that might cause us to tamper with our holdings and  also prepare opportunities that we might want to take advantage .


continue to use bitcoin normally as if you want to invest or trade it

Trading is not a good practice and is seen as gambling, trying to predict the price or what would happen next is a play with uncertainty and is not a good practice to involve with your holdings. Bitcoin is not an asset to joke around with.
hero member
Activity: 1666
Merit: 513
Leading Crypto Sports Betting & Casino Platform
February 09, 2024, 02:11:13 PM
Recently we saw a dip in Bitcoin where the price of Bitcoin dropped to $39,000 which may be the highest dip before the upcoming bull market. For those looking for a desired dip in Bitcoin from the current position, I think this is the last dip. This may be the last chance for investment from the dip. Many of us may think that Bitcoin will go back to previous levels and buy from the dip. Let them know that 2017-2020 dip is extremely difficult to find and may never be possible again. Many investors who didn't get the chance to buy on the dips have regret for the day. Today's current prices may give similar things for some in the next few years.

Those looking for dip, change your mind. Dips are not always possible. In the case of Bitcoin, the price that seems high today may be the same price will be dip for tomorrow. If we break out of this dip and do DCA then we will have the opportunity to buy from the dip and increase the Bitcoin portfolio.
sr. member
Activity: 336
Merit: 272
February 09, 2024, 01:57:10 PM
There are probably better HODLers than me, and I consider myself a bit of a contradiction because ever since mid-to-late 2015, I started to put into practice a sell on the way up strategy, and when I first started doing it I made quite a few mistakes, but I have honed my system several times over the years.. and there are quite a few members who criticize me for such practice with claims that I should not sell any of my BTC, even if I am saying that I have it already figured out in such a way that I can sell and that I never will run out of BTC.
I understand the resentment that comes with selling Bitcoin especially when you make it public. I think it ought not to be because without buying and selling, the natural sequence of buying and selling will be distorted and it becomes difficult to measure the liquidity of Bitcoin and impact of Bitcoin. Selling of Bitcoin is not bad but how you go about the selling can actually turn out to be harmful to your asset and at variance with the very reason you accumulated the Bitcoin.
You have no business selling your bitcoin when your maturity date has not actually been completed as a long term investor. Whatever happens in the market is none of your business. Your primary concern is buying from those that are selling. It could be that those that are selling are those who bought many years ago and their maturity date has completed and they have seen adequate profit that they are comfortable with. Yes buying and selling cannot stop in the market because of the day traders.

Quote
Every Bitcoin investor will, at some point, think about how to liquidate part of his assets for the funds to be used in other things that make life worth living. The selling can be in such a way that the investor does not run out of BTC, just like JJG recommended in his withdrawal strategy that I am still going through. Many of us may not know the power behind that piece of information because we are still probably in the accumulation phase. But a time will come that we will need something like that to be able to withdraw some of our Bitcoin without harming the entire portfolio.

For beginners like us we don't have to concern ourselves much about this information. We should only concern ourselves with informations that are related to buying and holding. This is a thread and many investors of different capacity are always visiting this thread for information, that's why JJG always makes information available to suit everyone according to their needs. Those who are in the accumulating stage should forget about knowing or talking about withdrawal information. This thread will always be here for many years to come and when it's the right time you can always refer to it.
full member
Activity: 266
Merit: 120
February 09, 2024, 01:45:43 PM
Get the context. The point is not about being the best investment because of price movement or ROI, the point is being the best investment in a particular sector because the HODLer is assured that the investment will continue to exist for decades.


I understand your thought and what you really mean, but I was just trying to be specific on the importance of Bitcoin over the other forms of investment. You know each time I hear people speak of Bitcoin, it sparks up my minds and want to talk and emphasis on it, for people to know the importance of Bitcoin. because I just feel like any discussion without Bitcoin is like I am not adding something to my Brian or not reminding my self of what I have chose over other investment. Not that I don't know that you just listed the other forms of investment but I was just trying to still let you know how important Bitcoin  investment is still important than the other investment.


If you truly want to emphasize the real importance of Bitcoin, then you should avoid talking about it "as an investment " or something that's a possible source of enrichment. Research, read, learn, and feed your brain more about the technical details about Bitcoin. From that, I'm very confident that you will truly learn why it's the break-through/revolutionary leap of the century for distributed systems.

Satoshi Nakamoto should win a Noble Prize for Economics and a Turing Award for inventing Bitcoin.

You are right because the real reasons why Bitcoin was invented isn't only to stand as an investment strategy but rather to stand as a decentralized medium of performing transactions from person to person (p2p) directly without involvement of a centralized authority and also to replace the use of fiat so by accumulating bitcoin in other to make profits in the future, we are also acquiring it to stand as a medium of exchange from one person to another.

Most people always think that bitcoin investment is all about hodling a certain amount of Bitcoins and when the price skyrockets they sell and wait for a dip in other for them to acquire again but Bitcoin investment isn't just an avenue to enrich oneself based on the profits that is intended to get from it but rather to also buy and hodl it and accumulate as many as we can afford so that when it's adoption is finally met we can have enough to use for transactions but a situation whereby we keep buying and selling Bitcoin then it doesn't really make much sense because the value might reduce since people are taking it as a medium of trading rather than investment.

It's obvious that Satoshi Nakamoto deserves more than a noble prize for this modern day digital technology that he/they have put in place in other to proffer solutions to human monetary challenges, even since it's invention some people and countries have been making wave for it's adoption little by little but I believe in due time it would be made official as our digital asset and currency which we all are anticipating for.
sr. member
Activity: 434
Merit: 254
DAKE.GG - CASINO AND SLOTS | UP TO 230% BONUS
February 09, 2024, 01:43:09 PM
Trading and DCA has nothing in common DCA is a process used in accumulating bitcoin and most of the people who use DCA process are those who want to buy and hold for long time so I don’t see anything wrong with saying DCA has something to do with bitcoin holding. But for bitcoin trading you don’t need to follow DCA at all you just need to use the money you have at hand enter the market and start their trading losing or winning, so i don’t see any relation between DCAing and trading that’s a wrong connection if you ask me.
I also think like that because logically, people who are trying to collect Bitcoin and hold it for a long time don't immediately think about selling in the near future, so it is very feasible to use the DCA method in that case. Meanwhile, trading is a very different job from collecting because the people who trade in the market are people who are targeting profits in a short time or quick profits in a certain amount so it cannot be compared to people who are collecting Bitcoin by run the DCA method.

Though you have made some point here, but there is something I notice some people have different wallet and some of this wallets are used for accumulating more bitcoin no matter how small and no mindset of selling soon which real definition is long-term holding and the other wallet, they use Bitcoin that are their to trade for possible profit which we may not know about, I thought about this, I noticed that many traders are core bitcoin hodlers because most of them knows the benefit attached to hodling for a long term, though hodling and trading works in a different direction.
sr. member
Activity: 742
Merit: 346
February 09, 2024, 01:15:06 PM
As we move into the future, the demand for Bitcoin is increasing along with the basic needs. I think if a person invests properly by following the DCA method, he can definitely prove himself as an ideal investor. It is better to invest from present time, like me (I have kept my investment alive for 14 months) I also want to make my investment for long term. I got to see my portfolio and it made me want to invest more. So 10% of my income I invest here for long term following DCA method. This is a proper journey that I learned from JJG text.
Investing in bitcoin is indeed the right thing to do now. Because the potential developments that could occur in the future are very promising. Therefore, when you want to invest in bitcoin, don't wait to have a lot of money first. But the most important thing is that when you have cold money, whatever it is, immediately invest it in Bitcoin at any time. Because in my personal opinion, waiting too long to invest in bitcoin might not be right. That's why the DCA system is used in the world of bitcoin investment. Because this technique makes it very easy for bitcoin investors to increase their portfolio with any amount of money on a regular basis.

However, that doesn't mean that Bitcoin investments only have to use small amounts of money. However, using large amounts of funds at once would also be very good. Because if you look at the potential that Bitcoin has, in the future the market price will definitely continue to increase. Because several factors like the ones you mentioned have positive potential, that's why the price is expensive. So basically if you invest in bitcoin, whether using the DCA technique or other techniques, the end result will definitely be good. Because if bitcoin continues to develop and is known by people throughout the world, it is certain that the market price will rise. Because currently according to the data that I know, Bitcoin users in the world have not yet reached 20%. So the potential for price increases that will occur in the next 10-15 years will definitely be higher.

So the most important thing, when investing in Bitcoin, we must have a good pattern and must avoid all risks. Even though bitcoin is the safest digital investment asset, if the basics of investment science are not applied, the results will definitely be less than satisfactory.
legendary
Activity: 2898
Merit: 1823
February 09, 2024, 12:30:23 PM
Get the context. The point is not about being the best investment because of price movement or ROI, the point is being the best investment in a particular sector because the HODLer is assured that the investment will continue to exist for decades.


I understand your thought and what you really mean, but I was just trying to be specific on the importance of Bitcoin over the other forms of investment. You know each time I hear people speak of Bitcoin, it sparks up my minds and want to talk and emphasis on it, for people to know the importance of Bitcoin. because I just feel like any discussion without Bitcoin is like I am not adding something to my Brian or not reminding my self of what I have chose over other investment. Not that I don't know that you just listed the other forms of investment but I was just trying to still let you know how important Bitcoin  investment is still important than the other investment.


If you truly want to emphasize the real importance of Bitcoin, then you should avoid talking about it "as an investment " or something that's a possible source of enrichment. Research, read, learn, and feed your brain more about the technical details about Bitcoin. From that, I'm very confident that you will truly learn why it's the break-through/revolutionary leap of the century for distributed systems.

Satoshi Nakamoto should win a Noble Prize for Economics and a Turing Award for inventing Bitcoin.
legendary
Activity: 2394
Merit: 1049
Smart is not enough, there must be skills
February 09, 2024, 11:32:37 AM
I also think like that because logically, people who are trying to collect Bitcoin and hold it for a long time don't immediately think about selling in the near future, so it is very feasible to use the DCA method in that case. Meanwhile, trading is a very different job from collecting because the people who trade in the market are people who are targeting profits in a short time or quick profits in a certain amount so it cannot be compared to people who are collecting Bitcoin by run the DCA method.
Clearly, trade and DCA have different meanings.

Trading has a high risk of short-term profit and you are like risking your money in the market, when the price goes up you profit when the price goes down then you will lose then it is trading.

Accumulation with DCA has a very low risk, in fact I dare say there is no risk if you do not sell bitcoin midway due to emergency needs.
With DCA you can have an average price because DCA purchases all the time from the price going down to going up if the time is for the long term then it will continue to do that task if you are still able but I believe using DCA in the future will have better results than trading.
full member
Activity: 266
Merit: 187
February 09, 2024, 11:18:00 AM
In as much as one believes in the existence of Bitcoin and as a coin worth investing prioritizing profits maximization over time without considering that things could go side ways can also be bad, irrespective of the fact that every business or investment is built on profits maximization, there can be loss too, tomorrow  they said is pregnant and filled with uncertainty being ready to accept that there can be loss too  and  even considering what the worst situation could be not just  looking at the profit side of it.
You shouldn't have that mindset if your intentions for Bitcoin is for holding because in as much as we may not really know what will be the exact worth of Bitcoin in the future but one thing we no is that you will never regret investing on Bitcoin because the future is bright and very transparent to easily see the possibilities, so perhaps I would advise you to remove your mindset on other alternatives that you feel could easily fetch you profit because you could get into a trouble with your investment, secondly I disagree with you on the aspect you feel that things could go sideways on Bitcoin, truly it may likely go sideways if your intentions are for short term profit making but however if your intentions are for holding Bitcoin for a long term I'm very confident that your investment will never go sideways because any price movement or volatility will not be your concern because your focus is the future and not current price fluctuations, so actually one of the most determining factor to your Bitcoin investment success is the ability to hold.
I hope he gets clearified on having the wrong insight of Bitcoin, let me believe Bitcoin is still at the very beginning of becoming much more acceptable and useful, many people are still going to believe in Bitcoin and take the bold step to invest in it. Over the past years, the rate at which Bitcoin was accepted was much smaller compared to today, Bitcoin is now accepted by companies and countries, this shows in few years from now Bitcoin will worth a lot in the market because of  the demand will be high. So, we are left with a much greater opportunity in one way or the other to begin hold Bitcoin.
You guys are getting me wrong, am only making certain clarifications that there is no certainty over predictions and speculations dont forget Bitcoin is still a growing asset there could be worst scenerio case which can affect market negatively, government can make polices that can crackdown the technology making it to become obsolete and investors could loss all their invested sum, thou is an unlikely scenorio but most likely and as for me i believe that Bitcoin has the potential an will continue to evolve and become more widely spread and accepted with both ups and down along the way.
sr. member
Activity: 434
Merit: 253
February 09, 2024, 10:58:51 AM
I really don't think job security is paramount here in things to consider before investing into Bitcoin, because in life anything can happen, even the job you feel that is secure, they might just lay you off for no just reason, because life is unpredictable, and that is more of the reason why we should not play with our savings and emergency fund, because that is what going to keep you going till you get another job.
A job is definitely needed to keep bitcoin investment right, if you are out of a job then you can decide to sell your bitcoin holdings if you face any danger. So this is why the job is special, you can keep your investment active in the Bitcoin DCA method with a portion of the income from the job. There must be an external source of income to meet basic human needs. Bitcoin holdings would not be sustainable for long without eros.
The emphasis is on source of income and not just a job. If your source of steady cashflow stops, you can resort to the emergency funds to sustain you while you look for another alternative. I don't know if you read within the conversation where it was started that to effectively invest in and hold Bitcoin, you must make sure you keep some funds for your basic needs, set up emergency funds and from the balance you consider investing in Bitcoin.

The emergency funds is actually for any danger than may arise when you are holding your investment. All the various improvement to the Bitcoin accumulation process is to ensure that the investor will be able to hold the investment and this is  only possible when the factors that will lead to sudden selloff are eliminated.
sr. member
Activity: 882
Merit: 258
February 09, 2024, 10:35:27 AM
We can see now how lucky those people who accumulate at $39k price since at short time span they are already gaining a lot especially if they accumulate huge volume at that time also there's big potential that they can even earn more from this since bullish run for bitcoin is I think bound to happen.
39k to 47k is definitely profitable but Bitcoin holders do not hold Bitcoin for the purpose of getting such profit. Those who dream big about Bitcoin in the long term can actually become large holders of Bitcoin. There are many differences between a Bitcoin trader and a Bitcoin holder. If a person buys a large part of Bitcoin at 39k and sells it at current price, he will profit from it, but if he can store it for the long term, he can definitely expect a bigger return. Let me remind you where Bitcoin was in 2017 and where it has reached in 2021 and where it will reach in the future. Those who think long-term about it will definitely consider Bitcoin's holdings. A temporary gain can never change the intention of a true Bitcoin holder.
full member
Activity: 602
Merit: 144
Chainjoes.com
February 09, 2024, 10:14:44 AM
Holding is obviously not the same as investing using DCA methods, it's even better to compare holding to trading because that's where people normally make mistake from but comparing holding to the DCA methods of bitcoin accumulation is just same as saying that winning the world cup is just same as participating in the world cup tournament.
Trading and DCA has nothing in common DCA is a process used in accumulating bitcoin and most of the people who use DCA process are those who want to buy and hold for long time so I don’t see anything wrong with saying DCA has something to do with bitcoin holding. But for bitcoin trading you don’t need to follow DCA at all you just need to use the money you have at hand enter the market and start their trading losing or winning, so i don’t see any relation between DCAing and trading that’s a wrong connection if you ask me.

You're absolutely Correct. Dollar Cost Averaging DCA is largely related with long-term investing and accumulating assets such as Bitcoin. This investing strategy is involved with purchasing a fixed dollar amount of Bitcoin at regular intervals, regardless of the price. DCA is best policy for Long time investment and Holding. I also like this DCA method very much. And also doing it from last one year. On the otherhand Trading is involve actively buying and selling. So i think DCA and Trading both two are different in their goals and methods. Some times i trade if i need any argent necessity.

I think trading is some times risky, And it could be long trade if market gose to our against. On the otherhand Hold for long time is safe i think. If we able to buy dip or we invest following by DCA method we will be profitable today or towmorrow there has no doubt. So i also agree with you Holding and trading both are different.

full member
Activity: 182
Merit: 120
#SWGT PRE-SALE IS LIVE
February 09, 2024, 10:02:12 AM
I frequently question myself and even looking back at my own bitcoin history in terms of whether I really did manage my BTC as well as I should have had managed it, and sometimes my earlier assessment of what I was doing ends up varying from my going back and reviewing what I did when and why I did what I did... So in many senses, many of us may well make various mistakes along the way in our bitcoin journey, and sometimes we still may well end up having overall success (and even particular success), even though we may well have had made several significant mistakes along the way.
I took time reading everything carefully, although I can't quote all but some few point tells alot about early investors and the mistake investors made but just like what you said some will still end up having success with their investment, this is just what I observed from bitcoin investment lately, no matter the mistake and the ups and down when investing in bitcoin there's always a room to make amend if only the investor is willing. Reading experience like this from an experienced  investors is amazing, although I just started my journey with the aim of success and I know it takes time but it depends how far I'm willing to learn.

Some times it takes these losers a very long time to realize their mistakes.  I have a few friends who I sent a decent amount of bitcoin at various points between late 2014 and late 2016, and so you can imagine even relatively small amounts in dollar values are ending up to add up to quite a bit in times like this, and I even made some statements to suggest that they need to be guarding what I had sent them and maybe even buy some more of their own.. and sometimes they did both of those but then later down the road they lost courage and sold all their bitcoin.
I think I have seen similar stories in the forum about early investors who sold early and sometimes I wonder why but it came to my notice they never wanted such investment, in my opinion and with what I've learnt here, bitcoin investment should be treated with care mostly for investors who intend to buy in bulk to avoid loss, in essence knowing about the investment first will go a long way and it will be of help to an investor.



DCA is a crypto-tactical strategy

This is a bitcoin thread.  Hopefully no one is concluding that DCA works with shitcoins, because one of the presumptions regarding the benefits of DCA is that ultimately at some point the asset is going to go up in value and you will be advantaged by ongoing buying it because generally speaking its longterm trend is upward.. even though in the short term its trend might not be upward.    Except for bitcoin, you cannot presume that any shitcoin's trend is upward.. so hopefully people are not that dumb to buy shitcoins with such strategy, even though there are a lot of people who use the DCA term in shitcoins, and they might not realize that the shitcoin may well not have an upward trend.. ..
Shitcoins should be excluded when mentioning DCA strategy and even when dealing with bitcoin there's no point involving shitcoins. Sometimes investors involve shitcoins for more profit but I wonder if this plan do work out for them but I don't think it's necessary talking about shitcoins.
full member
Activity: 266
Merit: 187
February 09, 2024, 10:00:55 AM
That's how important that we familiarize bitcoin characteristic so that we will not get panic on the little drop happening since bitcoin would surely recover after correction happen.

For sure there's a lot of people learn something from past price occurred where bitcoin dumps so bad but now it recover at $46k and it slowly reaching at $47k anytime today. This mean that if we encounter some negatives on our portfolio we should not get panic since its just a paper loss and there's still a huge chance that we can recover that's why we should not get panic in those situation and continue to use bitcoin normally as if you want to invest or trade it.

We can see now how lucky those people who accumulate at $39k price since at short time span they are already gaining a lot especially if they accumulate huge volume at that time also there's big potential that they can even earn more from this since bullish run for bitcoin is I think bound to happen.

Your expression looks so mixed up and contradictory, it seems you are encouraging long term investment and trading for short term as well, thou is your choice but for the benefits of this thread long term investment is being prioritize as it says buy the dip and hodl, the reason why it's dominates the thread is because it has lesser risk compared to the Short term trading.

Talking about short term or trading means your are exposing yourself to greater risk of losses and gambling with your investment because it creates that emotional unrest of monitoring the downward and upward trends of the market condition by focusing on profits maximization within shortest time frame whereas in long term bitcoin investment you can accumulate Bitcoin and hodl irrespective of time volatility through your dca method. the  choice is yours it is only advice that is shared here.
sr. member
Activity: 224
Merit: 195
February 09, 2024, 09:28:24 AM
In as much as one believes in the existence of Bitcoin and as a coin worth investing prioritizing profits maximization over time without considering that things could go side ways can also be bad, irrespective of the fact that every business or investment is built on profits maximization, there can be loss too, tomorrow  they said is pregnant and filled with uncertainty being ready to accept that there can be loss too  and  even considering what the worst situation could be not just  looking at the profit side of it.
You shouldn't have that mindset if your intentions for Bitcoin is for holding because in as much as we may not really know what will be the exact worth of Bitcoin in the future but one thing we no is that you will never regret investing on Bitcoin because the future is bright and very transparent to easily see the possibilities, so perhaps I would advise you to remove your mindset on other alternatives that you feel could easily fetch you profit because you could get into a trouble with your investment, secondly I disagree with you on the aspect you feel that things could go sideways on Bitcoin, truly it may likely go sideways if your intentions are for short term profit making but however if your intentions are for holding Bitcoin for a long term I'm very confident that your investment will never go sideways because any price movement or volatility will not be your concern because your focus is the future and not current price fluctuations, so actually one of the most determining factor to your Bitcoin investment success is the ability to hold.
I hope he gets clearified on having the wrong insight of Bitcoin, let me believe Bitcoin is still at the very beginning of becoming much more acceptable and useful, many people are still going to believe in Bitcoin and take the bold step to invest in it. Over the past years, the rate at which Bitcoin was accepted was much smaller compared to today, Bitcoin is now accepted by companies and countries, this shows in few years from now Bitcoin will worth a lot in the market because of  the demand will be high. So, we are left with a much greater opportunity in one way or the other to begin hold Bitcoin.
Jump to: