Topic: Buy the DIP, and HODL! - page 268. (Read 123873 times)

Trading is not advice worthy, you'll make a lot of bad acquaintances if you tell people go trading😂
Good point about your last line, there. Holding has proven it's worth, and I've preached it, all every bull run gives me a reference.

I know I've not been that long in bitcoin but at least if this bull run is over I would count that as one cycle cause I started accumulating during the bear market and one thign I noticed is how much it is hard to hold in such market conditions and how it can affect the best of us especially those that have a major portion of their asset or Value stored in bitcoin, although I was so early I've had thoughts of how the old folks manages go persiver through all those hard times and one thign that came to my mind is how they all had a personal conviction about their investment In bitcoin and how they all consistently continued in their buying of bitcoin in all market conditions.

IMO in anything one wants to achieve great result in life persistence is one attribute that we must have even when thigns are quite against us, and I think one way to actually reduce the impact of those hard times is to have a long term plan for your investment, cause if its a short term or the time duration is too short like a year or two its so possible that your investment can still be mutually experiencing one side of the trend like the bear or maybe you bought at very high prices, you would most likely have feelings of failure in your investment but if you had a longer term plan its easier to have patience cause your approach to bitcoin won't be to solve a short term problem but for a longer term plan, like maybe reaching a fuck you status or retirement.

From my little experience I know that it has been way easier for me to have patience and be consistent cause I know that my plan is for a much further future so I just tend to keep my eyes of profit and loss and focus more on accumulating bitcoin.

It seems what you are saying is a fair interpretation, and it is up to you if you feel that you are able to invest and still potentially be a financial burden on others in terms of meeting your basic needs.. and I suppose referring to food and lodging as the most fundamental.   

But, yeah if you want any investment to last there is a need to be able to create and maintain some kind of cushion between the money for your living expenses and the investment, and it seems that we have already been discussing that the larger your investment becomes, then the more need that you are likely going to have to make sure that you have sufficient finances so that you don't have to dip into it at any time except your own choosing, which I am suggesting to be 4-10 years or longer, and if you are not able to invest for that long, then you might not really be in a situation to be gambling with whatever money that you might need for your living expenses.

So if there can be ways to figure out how to increase your income or to cut your expenses, then you are in a better position to be able to invest, yet since we are participating in a quasi-anonymous forum, we cannot always know the abilities (or lack thereof) for some of our members to be able to earn an income or to keep their income steady or even to maybe have some abilities to save up some extra cash if their income is not very reliable.


I know that some folks might be worried about the extent to which their BTC holdings are in profits, and I frequently say that the first BTC I bought was not in profits for over 3 1/4 years from November 2013 until March 2017; however, my overall average cost per BTC had various periods of being in profits, and maybe some ambiguity in regards to the level of profits depending on how well it was calculated during close to 3 years before the average costs per BTC had clearly gone into profits.

So there can be long term periods in which an investment like bitcoin might not be in profits, yet we can still figure out position size and investing techniques that involve ongoing buying and hopes to have more options in the future, including hoping to be profitable in the future.. while realizing that profits are not guaranteed, even in an investment as great as bitcoin... but we are likely going to have better chances of being in profits in the longer term if we continue to exercise prudent, persistent, reasonable and ongoing  BTC accumulation practices.

In other words the main way to prepare for the BTC price to go up is by continuing to buy BTC, even if some of those purchases might raise the cost of your BTC and also even if sometimes the BTC price moves against you after you made purchases that ended up being at higher prices than the current prices... just keep buying with reasonable persistence.. and perhaps study bitcoin to attempt to get more conviction in the strength of bitcoin's long term investment thesis.

I think there are not a few people who initially doubted bitcoin especially when bitcoin was not as well known as it is now in the eyes of the public, but with the growth of bitcoin which does bring certainty for a more beautiful future along with quite a number of people who have managed to take advantage of a fairly large amount then indirectly this event makes people involved in accumulation even though at first they always carry doubts in their minds. On the other hand you gave very good advice and direction by suggesting him to use the DCA approach as the initial stage of involvement, and of course this is a good suggestion because DCA is more specialized for those beginners who just want to jump in by investing the same amount (not too big is fine) in the long run which can indirectly keep their financial situation balanced and can make them make maximum profits in the future as long as they don't delay too much during the allocation period.

Another thing I hope or I advise you to provide a detailed explanation or understanding to you about what investment really is, for the problem of goals yes we all as investors have the same goal at the end of the engagement which is to achieve or get a profit, but I hope you also explain to him in terms of risk, don't let your friend tend to always think about profit because the worry is that he could be too worried when bitcoin experiences a significant bearish or correction phase which in turn could make your friend act instantly to thwart or stop his bitcoin accumulation plan that he has been maintaining, because I see events like this are not uncommon when someone is too focused on his expectations.

With this we can differentiate between investment money and the money we use in the real world. So there is no need to spend the money we have invested in Bitcoin to simply meet the shortages that are occurring in the real world.
I even experience it now. When you feel down in the real world and don't have money to just buy food, it turns out there are still neighbors who give you a little gift that can be used to buy food.
So the neighbors don't know how much assets are in my postfolio, and let it remain a secret. while the daily money remains from the actual results of work.
while assets in bitcoin remain and are not sold for nothing. especially now that the asset is still being developed and is still accumulating more bitcoins.

Bitcoin have passed the level of advertisement, and it would be on whose accord to do that. Bitcoin is already famous for SEC to have approved bitcoin ETF, that alone has made bitcoin more popular than before, because it has given room to those that don't believe in bitcoin to believe in it, and adopt it.

If you feel that bitcoin is not yet popular in your region or location, you can volunteer to educate people in your neighborhood about bitcoin and investing in it. You should not force anyone to accept what you say, but only the ones that shows interest in bitcoin should be taught.

Many financial institutions already know about bitcoin and its potential. El Salvador has adopted bitcoin without advertisements, and the country has their reserve funds in bitcoin. All the second world countries government knows about bitcoin, because initially they saw it as a threat to their fiat currency.

Well, I somewhat randomly picked a goal that might be a goal of someone in the west, but if you think that the goal is too high, then you can reduce the goal to your level.  Perhaps $500 per month or $1k per month, and if the goal was $500 per month, then just reduce (multiply) everything that I already said by 1/10th. ... which means that either 0.5 BTC by mid 2034 or 0.25 BTC by mid 2039 would be sufficient to accomplish the goal of $500 per month, and if you wanted an extra cushion of $1k per month, then you would have to double the target amount.


Of course.  Bitcoin is for everyone or anyone who chooses to get involved in it, and anyone who gets involved investing in bitcoin within a way that is not overdoing it, then is likely going to have some benefits from such investments into bitcoin.


I think that I have always suggested that guys try to be as aggressive as they can in their bitcoin investment without overdoing it, so if a guy has $100 per week that he can invest into bitcoin, then he should do that.  By the way, I was not suggesting that the guy who is shooting for $5k per month income from bitcoin is able to invest $5k per month.  The guy might currently be getting a $3k per month salary and maybe he has $2,000 per month of various expenses, and so the most that he could invest into bitcoin might be $250 per week, and maybe it varies between $150 and $250 per week depending on the variation in his expenses... or even the variation in his income.

So yeah, if the price corrects, he is able to buy more bitcoin and if the price goes up too rapidly then he may well not be able to get as many BTC as he thought that he would be able to get.  If he is on target and overly accumulating bitcoin, then maybe that is not a bad problem to have, or maybe if he is under accumulating, he might have to change either his target accumulation level or maybe change his timeline until such a point that both the timeline and the amount of BTC accumulated overlap... and of course, he will likely monitoring these matters along the way, and I personally like to use the 200-WMA in terms of the valuation of the BTC holdings in order to give greater protections to anyone who would not be pulling the fuck you lever too soon (prior to being actually in a good financial and/or psychological place with his BTC holdings relative to his expectations for how much income he is going to be drawing from such BTC holdings.).

In recent times, I have also been coming toward thinking that a guy might not need to have as much of a bitcoin savings as he would have to have in traditional investments since with a bitcoin investment, he likely would be able to employ a higher withdrawal rate of 6-10% in bitcoin as compared with 4% in traditional investments.



Yep.  The more that you build different options for yourself and different kinds of funds, then the more likely you will not get into a pickle in regards to your BTC, and also you can some times buy extra BTC to make up for some of your earlier missing of times that you would have had wanted to buy BTC... You likely have to balance how many BTC you already have and what might be your goals, and sometimes if you perceive the  BTC price to be in a dip, you may want to be extra aggressive in your BTC accumulation during those kinds of times.. but yeah sometimes emergencies or even other kinds of needs for cash will also happen during periods in which you would prefer to buy more BTC, but you only have so many funds that you are comfortable to draw upon in order to make your BTC purchases during that period.

And, yeah another thing, sometimes we learn from our stupid mistakes in which maybe we get robbed or we suffer some expenses that could have had been avoided.. but if we have some systems in place, we also might be able to keep buying BTC (or maybe at least not sell any BTC) during times in which our finances are suffering.  I recall one period in 2015 that I was able to skip paying rent for 2 months on a business due to some financial hardships, and then later down the road, I paid back the rent from those two months, and sometimes if we otherwise have good relationships, we can sometimes receive favors through our business relationships.


You can sell part of your BTC at various points on the way up.  The guy who 10 BTC bought at $100 might sell 0.25 BTC at $500, and 0.25 BTC at $1k, and then maybe every time the BTC price goes up $1k he sells anther 0.25 BTC, or maybe instead of selling 0.25 BTC, he decides that he is going to sell a certain percentage of his BTC (maybe somewhere between 1% and 5%) for every time the BTC price goes up 50%.

There is nothing wrong with any of those strategies, and maybe even the guy ends up with way more cash and even though his BTC quantity is going down he is happy with that... and maybe if the BTC price happens to correct, he can buy back, but when he sells parts of his BTC, he is not selling with any expectation to buy back.

Bitcoinb has become the volume and preferred investment for investors, making it is the best experience and source of income for investors around the world. There is no doubt about its popularity and acceptance . But until Bitcoin's legality is fully clarified ,the hype will continue. Attention to legalization can increase its naturalness and acceptance. Advertising gives people the right information about the benefits and risks of Bitcoin which increases their confidence in this new and important asset.  Without regulatory clarity, advertising is a necessity so that people get accurate and truthful information and are well guided in their investment decisions. Advertising Bitcoin can increase its acceptance even faster and help people understand its value and future.  Therefore , until Bitcoin legal framework is in place, advertising will continue to be required.

Lol, it's very funny how some people feels that advertisement only involves coming to the media to announce about bitcoin and convince people on the need to invest in Bitcoin but just like you stated, the news of the upcoming halving and bull run is making trends on the Internet and so many people that were not interested in investing in Bitcoin are picking up interest base on that and Bitcoin creating a new ATH before the halving is another news that broke the Internet such that many people were also eager to invest in Bitcoin and since people always want to see results from others before developing interest, so the news of Bitcoin breaking a new ATH also made lots of investors to come in, these are various means by which Bitcoin have been advertised in many instances.


That's very correct, the news of Bitcoin spreading across the print media also aided in the advertisement of Bitcoin and made most investors to come in to invest in Bitcoin. Bitcoin have been advertised in diverse ways just like other assets as those advertisments are what entices people to invest in it because without those medium of advertisements the hype in Bitcoin would not have gained this level of popularity and recognition it has gotten so far.

Believing in bitcoin is also necessary unlike the early investors, I will always go with the idea of investing no matter what and for one to invest the person must understand the basic term of bitcoin and investing. The investment choice bitcoin allows an investor to accumulate while learning and even the slightest knowledge about bitcoin can keep an investor going while accumulating, having the knowledge of bitcoin without investing is not appropriate nethier believing in bitcoin the two must work together, the ability of putting this knowledge to practice make an investor more knowledgeable. Although no knowledge is wasted but why acquiring this knowledge without practicing. Believing in bitcoin is just common like I have never seen a bitcoin enthusiast in this modern world who doesn't believe in bitcoin investment although most people never had the opportunity to learn about bitcoin but still they've not gotten any knowledge about bitcoin investment that's just the reason.

Bitcoin is decentralized in nature which suggest that there is no central body or a marketing team that is responsible for doing any form of advertisement but we can't say that there had not been some sort of indirect advertisement that has made Bitcoin what it is now.

Bitcoin has enjoyed advertisement from us that are the primary users, from companies that has Bitcoin as one of their payment medium, most ads and betting sites that accepts Bitcoin also promote Bitcoin indirectly and so we can't say Bitcoin is too popular to be advertised. Bitcoin can't advertise itself but investors and people like us that knows it worth and the numerous advantages involved in investing in Bitcoin are the ones advertising Bitcoin.

Seems you are missing the point on what advertisement is and that have to be corrected. The news you see on the print media, the hypes and all the excitement about the bull run are all different forms of advertisement. Even FUD can be regarded as a form of advertisement because there is a popular saying among politicians that "negative publicity is better than no publicity". This was what helped Donald Trump in his election 2016, where the big media portrayed him in a bad light yet people got curious and did their independent research and that helped his popularity. So, Bitcoin thrives so much on the news which is also a form of advertisement and there is no point pretending about that. You can say that Bitcoin does not require anyone to spend money running ads on big platform as the its advertisement is done free of charge with many of those pushing it not realizing that they are actually marketing Bitcoin.

To be frank with you, without the news about Bitcoin spreading in the print media, most of the people that are invested in Bitcoin might not have even known about it. Some of us here came into Bitcoin because we heard about it from friends, social media or different platforms. I agree with you that investment in Bitcoin is a personal thing that does not require any convincing but the potential investor must first be aware of Bitcoin through someone or some means before taking that personal decision to invest.

Anyone can buy bitcoin whether they are weak hands who would sell with just one news that would cause panic or strong hands that would never sell unless when necessary or at their own choosing, the difference is just the discipline they have and the amount of believe they have in bitcoin, I'll like to explain it this way, a parent would give birth to a child feed him, train him, bail him out in his trouble times and give him everything he needs untill he teaches a certain age without knowing if that child would end up a failure or a big success and the reason that patent continues to groom that child irrespective of the future was cause they believed in their seed.

Now many people get into bitcoin cause of they profits coming coming from the bull, some don't even know the workings of bitcoin, they have not read a single article about it they just bought Bitcoin and after the bull they sell of everything and claim the profits or some did not sell and the bear hits them and they sell at a loss, while others have done quite some research and have come to a personal conclusion that bitcoin is a good investment and its worth holding, amongst this two only the other that has done research and have gotten to believe in bitcoin can truly hold without panic about selling and even every holder needs more time to grow in discipline but he now has the foundation which is personal believe and knowledge about bitcoin.

You would never trust what you dont know and that is fact, you won't be holding bitcoin right now if you didn't have a % of trust in it.

I understand what you are trying to say, but there's no harm in telling those that are close to you that don't have much idea about Bitcoin, the beauty of investing in it,  alot of people are out there that are ready to grab this great opportunity in investing in Bitcoin but they have no one to put them through or direct them without misleading them. So is meant for us that have some idea about this space to put people like that through, if they came to us with the interest wanting to know more about this space and how it works. We don't have to start advertising it nahhh , there's no need for that bitcoin itself is good at telling the world am worth investing on. And investing in it is ones choice no one have to force any one to invest .

Bitcoin does not necessarily need advertisment because when something is too good it can't be hidden, it is a choice to either invest in Bitcoin or not, advertising Bitcoin now is not something to be bothered about because it has pass that stage  and has gotten the recognition needed . Investing in Bitcoin should become more of self convinction and not because it is what every body is doing or talking about, who will invest will invest and who will not invest will not invest irrespective of how much discussion and adverts.

There's no point to stop since your intention is for long term and not for short term gains. If you only hold for short while then sell because you think you already see the ATH then that's somehow can be called as trading. If you can't handle it well because you are afraid to lose your money when correction came then better comeback next time and gain a lot of knowledge or when you are ready since if you really aim to hodl for long term for sure any market situation cannot affect your decision and you can accumulate bitcoin at whatever price it is. There's a lot of information to gather here and for sure those opinion and guidance of people with great minds to hold for future can really help those people to know more about what they are trying to do and can set their own targets or plan for future.

yeah you are right, a friend mine told me his interested in investing in Bitcoin. I was surprised because being long have been trying to convinced him but he kept doubting the growth of bitcoin, I guess due to the recent growth bitcoin undergo lately he as seen some beauty in it which lead him in researching more about bitcoin. So he was like he wanted invest a certain amount of money in Bitcoin so I told him that is a good plan and a nice start up . But I told him not to go all in at once because of the recent increase in price , so I told him to start with some DCAing strategy first ( have to explain how DCAing works) and he should keep some reserve funds for buying the dip, so he was excited about it, that with such strategy he would have enough time to gather some good amount of money for the DCAing (weekly), then he told me that on Sunday (which is tomorrow)  am going to put him through on how to buy and all that , I was really glad seeing my friend finally taken action in accumulating Bitcoin, and thanks to this thread I would be able to put him through on how investing in Bitcoin works. So I would keep on learning so that I still will be able to impact on others.

If we can talk to friends and neighbors in the real world who are the same age as we usually are here, it will certainly be richer. It is possible to expand the promotion of Bitcoin only through discussion and advertising. Especially I discuss ATCA method very seriously, how to make my investment for a long term. From here I get the most advice from different mediums and from JJG, on how I can invest long-term and be successful.

for those of us who don't care about bitcoin in the future, or just want to enrich ourselves with bitcoin, maybe we can say something like that.
but would it be better if we could straighten out something wrong about bitcoin. especially those of us who have enjoyed the benefits of investing here. Sharing knowledge will also have a positive impact on people's views about Bitcoin. and isn't that what we want, Bitcoin is more widely known so it can attract more investors to join here. If many people join and know more about Bitcoin investment, it will also affect the value of Bitcoin itself.

I understand what you mean @Hewlet, but I think that Rabata is also right too. This is because cause it is when you believe in bitcoin that it can be a safe haven tomorrow, or that you can use it to turn your future around that will enable to hodli for a very long time, or even use it as part of your life. Now there are two scenario for you to look into.

The early investors, Mr A was opportune to buy bitcoin for as low as $100, because he did not understand the potential of bitcoin, and much believe in it, but he was able to buy 10BTC at that time. As time passes by he saw that bitcoin price is increasing with time line, and he sold when bitcoin was $1000, believing that he have hit the jackpot, forgetting that for bitcoin price to reach 1000k, that bitcoin is capable of reaching $10000 and higher, because he didn't have the strong believe in bitcoin, currently such investor will be regretting that he sold too quick. Same happens to people who see bitcoin as something that is worth hodling for short periods of time like 4yrs and they sell off to take profit. He don't believe in the future of bitcoin if not they will hodli for a longer time.

Now Mr B, also bought 10BTC when bitcoin price was $100,because he sees bitcoin as a very precious investment, because he believes that bitcoin price will be more valuable in future, and when bitcoin price was 1000k he didn't sell any bitcoin but rather continue holdi because he believes that for bitcoin to reach that high price, in future bitcoin can hit 100k price. No matter the challenges that Mr B has passed through based on FUD, FOMO. He was still strong enough to overcome them and hodli because he believes in bitcoin.

It is when you believe in bitcoin that you can be able to increase your bitcoin size and hodli for a very long time. Laszlo would not use 10000BTC to pay 2 papa John's pizza.