Topic: Buy the DIP, and HODL! - page 274. (Read 123847 times)

For almost the last month, Bitcoin has continued to experience price increases that are even difficult for most people to determine the DIP price, although it is still quite possible to continue using the DCA method for long-term investment in Bitcoin. I think now there are many Bitcoin investors who are very enthusiastic about continuing to invest in Bitcoin after seeing the increase in Bitcoin prices which has made a new ATH of all time as an unusual history in Bitcoin. So don't wait to invest in Bitcoin as long as you have the ability to do so, either by DCA or by other means.

 I got your point, the emphasis was that you must not have a steady income flow before you invest in Bitcoin, but you need to have an income that is more than your expenses whichever way you have the income it must not be steady but you should be able to take care of your needs and strive not to sell your investment in other to take care of your needs.

I get your point but putting strategies I place and finding out the best plan or pattern that has helped us the most is not such a waste of time, the only problem here is that people tend to get stuck in this stage of trying to plan thigns out just because they are trying to do it perfectly.

I most cases I would say to start your investment journey should come first before trying to get all those plans right and moreover the DCA strategy doesn't involve any rocket science it's just buying and buying consistently, and this should help newbies get acquitted with the process and later on they can start building other strategies.

From his explanation, what I got from it is that the person is not on any job that pays him on a weekly or monthly basis, rather his job is on contract basis of which whenever his services are required he will be called upon. Yeah there are some craft men or artisans who only get money when they are being haired for work. This is not the same as those who are on government or company pay roll or are gainfully employed. These set of people can usually make a lot of money on a particular job they get and most times their pay from a single job can be 3x the money someone who is earning monthly salary gets in a month. So with this you can always settle bills as one can easily be hired for numerous jobs within a month. This way such person can still pay bills and invest in bitcoin. The excuse that some people gives when interacting with them on why they don't own bitcoin, they will tell you they don't have a paid job. But some of them are actually making money more than those living on a monthly pay cheque. Like he said earlier investment is about mindset and not about how much you earn.

Yes we need a source of income to make investment, what @Salahmu said was, he thought it was only those that have a weekly or monthly flow of income that can invest in bitcoin until he came across someone who invested in bitcoin with his side hustle, which comes up at different intervals. Probably the person is an artisan who get paid whenever he is called for a job, and from the money he makes he still invest in bitcoin. In this case his skill is his source of income.

We all have to be able to prepare well when we want to start investing, we can't just rely on courage alone because in my opinion that is something that is not wise at all. Lita must first fulfill our main needs before starting to invest, we also have to prepare an emergency fund and we can prepare this as we go along with our investment.
If in the future we encounter something difficult that forces us to do everything we can, we can use the emergency money. Because just imagine if we didn't have emergency funds, we would be forced to sell our assets. We are very lucky if we are in a state of profit, but if we are in a state of loss, what we have sacrificed during that time is in vain, well, don't let us feel that way.

Currently we are in the bullish run so I don't know what dip you are talking about.

Are you mentioning the dip that occurs in short time frame like in 24 hour candles? Which is good if you happen to buy at that time but generally who pursue DCA usually invest when they have money which is generally when they recieve their salary so don't wait for the dip if DCA is your primary go to method but as said if there is money sitting in somewhere else then there is no better time to invest then than now.

isn't it strange. How do you even think about buying Bitcoin when you don't have a sustainable source of income? If you don't have a sustainable source of income it's obvious what you need is a job and not an investment. Can you start building a house without any source of income and you think you will manage to figure things out along the way? This can only come from someone that's making mere statements and hasn't faced real responsibility of life heads on.

Anyone that tells you he started investing into Bitcoin without having a source of income is either gambling with the invested money hoping to get quick returns within a short space of time just so he can start up something for himself or he is just blarbing lies and have no holding in his portfolio. Even those that have a sustainable source of income still have to set out some reserve funds from their earning to enable them accumulate effectively without having to face unplanned issues and you think it's going to ba an easy adventure for a person who's still struggling financially?

Let's be realistic and face this as people that are not mere cheap talkers.

Dollar cost averaging (DCA) is the best as a long-term investment plan, with DIP to consider if you have a lump sum of money.If you invest in DIP, it will be of great help in times of crisis. If you have investments elsewhere, you can definitely invest in Bitcoin. It is sure that Bitcoin will benefit you greatly. So called fiat money will give you 5% or 10% profit but bitcoin will give you a lot of profit.

It's okay bro.

There's no need to look at their faces and mock them. Everyone has their own time of selling but they have been happy to sell at that range. While me, I don't have plans yet. I'll hold as much as I can.

Those that have a strong heart and a long term plan for their Bitcoins, we'll just hold and let things happen and come.

I sincerely don't buy this idea, knowning the strategy and buying plans or accessing the asset are mostly done by every investor, like for example, I'm new to the world of bitcoin investment, I will consisder the strategy that suits my income, if my strategy is to buy using the lump sum strategy at first and continue with the dca strategy that's okay. A lot of investors prefer to learn while accumulating, the only problem here is after an investor finish listing out those strategy and then fail to accumulate or rather waiting for the price to decrease is very wrong, the whole thing with your idea sounds like an aggressive move tho. The only problem I get is when people consider the volatility nature of bitcoin as the risk, I see no problem with the volatile nature when a long term plan can handle such risk, fantasy about the price of bitcoin is another thing, price increasing and decreasing or being stable, although alot of investors have seen the price with several experience but still I can't tell about the price, if I try I might end up misleading people.

Wait a minute, let me get something out of this.

How do you have an income source that isn’t steady but somehow it’s able to sufficiently cater for all your expenses which wold be regular and continue to grow on you without you having a regular source of income?

Even still, you need this income source to allow you some investment funds to DCA with and still, it’s not a regular income source…

I don’t think it’s possible, we have to face the bitter truth that, you need a regular source of income. A contract or something and that is also one way to ensure you invest in Bitcoin, your able to hold.

You have a point but like I mentioned on my previous post the quest to have steady source of income before starting investing on Bitcoin is actually a wrong narrative because you can actually continue investing on Bitcoin even when you don't have any major source of income and with a proper planning there is no way the person could ran into trouble in the future however even @JayJuanGee made some good contribution concerning this issue that we do not need to have a steady source of income before investing on Bitcoin but that it will be more advisable to have income that will exceed our expenses. Which is very understandable, so irrespective of how source of income is very important but it shouldn't determine our mindset on Bitcoin investment because people who doesn't have much can actually start the Bitcoin journey because they don't need to have a box full of money before they could start but however the only thing they need is to make sure there income is higher than there expenses.

The simple DCA method is to buy bitcoin with a certain target time, be it 2 or 3 years in the future, to make a profit. and is it necessary to time the market when doing DCA? you have to buy when the price is falling or stay on the specified date.
For example, I will invest $10 worth of bitcoin every month on the 1st. Should I buy on that date every month regardless of whether Bitcoin is going up or buy Bitcoin on that month when the price is down, even if it's a little?

Which method do you usually choose for the DCA method? stick to the specified date or buy when the price drops?

But somehow you need to find ways to have income for your financial security and hodl plan will never be successful if you don't have other source since if the hard time came especially on financial aspect  and market dump at the moment for sure this could affect your investment and decision to hodl since you might decide to sell your holding because you don't have anything left in your hands or don't have any choice but to dump since you need money in that time.

That's why setting up an emergency funds is important and also having multiple income streams is needed to  consider so that we are not only good for saying or thinking about its good to hodl but also we can make all of our plan in to reality.

well all the strategy  use in accumulating bitcoin as their role. Like DCA strategy one of the best because it play alot of role in accumulating bitcoin, because it enables one to accumulate bitcoin at any price interval either during the dip or when there's an increase in market , and this same strategy also help one to accumulate alot of quantity of bitcoin in their portfolio with lower-risk path . Lump-sum also has  its role , for example one cannot use lump-sum (going all in at once) strategy when there's a surge in market . That won't no longer look like an investment but as gambling inorder for one to make some short-term profit which kinda risky. But I will say lump-sum strategies would be nice during the dip . One can use lump-sum strategies to buy the dip Acquiring some good quantities for themselves, then they can also back it up with some DCA either monthly, or weekly with the funds gotten from their sources.

Still I understand what you trying to say, one planning on which strategies to use and haven't started accumulating is just waste shows that you ain't ready to start your accumulation (I will say keep on planning while bitcoin keep growing) . That why in this thread most users always advice one to start with DCA strategies to start their bitcoin accumulation, then once  the dip comes, you can also buy  the dip and hodl .

this whole crazy complexities you all consider as strategies before buying Bitcoin seem to me as excuses that's seriously unnecessary. I know it's necessary to make plans based on the resource we have and also ensure that our plans works well for us in the long run but when you overly depend on making bunch of best plans and strategies you end up not getting the right shit in your portfolio.

You know, one of the main reason why some average guy out there is successful and the brilliant fellow that's always trying to get things all perfect before executing his plans fails is because the average guy doesn't spend all his times trying to figures things out before kick starting. He gets the basic and then boom, he goes for it. Our goal is to invest into Bitcoin and maybe if it's even necessary do so with whatever strategy that's best with us but if all you're after is the sourcing after strategies upon strategies without focusing on the real deal which is obviously buying as much as you can, then all your strategies are bunch of shit.

Yes, it is true that dollar cost averaging is a very simple investment method.We all need to have a specific goal to invest in. As long as we are able to reach that specific goal, we should continue to invest. Just like when we invest in bitcoins we need to start investing with a specific goal in mind we need to plan in advance how many years we will be able to continue our investment. Since you are talking about dollar cost averaging method of investing, you can start your investment with any amount whether it is 50 dollars or 100 dollars or 150 dollars.

Whenever we start investing in this method we need to plan for long term so that we can maintain this investment method for long time.If one starts his investment with 50 dollars initially then he may be able to increase the amount of money in his investment later if he has financial solvency.

Regarding not stable monthly or weekly income is not problem with how much dollar accumulate for investing in bitcoin possibility invest weekly or monthly. I think very important about decision want to accumulate keep investing in bitcoin indeed not get stable with salary income, since close ahead of Eid al-Fitr I have smart with spending my income and little reduce for investing in bitcoin but promising for my self one month later will accumulate more fund for investing in bitcoin.
But still don't delay investing in bitcoin during you have side income or weekly income how to get discipline when investing in bitcoin, if some time earn much of payment salary need to spent large amount for investing in bitcoin become our future investment assets, save bitcoin today automatically will save your financial in the future.

The price of bitcoin has increased a lot and the price continues to rise but we have not stopped investing or will not stop seeing the price of bitcoin increase. Let's never think that we won't invest just because we see the value of Bitcoin going up. Since we will invest in DCA investment method, we can invest in Bitcoin at any price level. In the DCA investment method, if the market does some dumping after investing in the first stage and in the next step if the investment can be made again at the lowest level of that dumping and if the market rises again at that time, then a compromise will be formed between the two investments. When there is a compromise between two investments, even if there is a relatively small loss, it will be recovered through the next investment and later the two investments will combine to bring profit to the investor. 

DCA investment strategy is definitely a reliable investment strategy for long-term investment. DCA investment strategy allows investors to invest as they wish and where the amount of risk to investors' money is very low. Before investing, we have to invest by accepting that just as investing can make us gain money, investing can also result in loss of money, and just as we have to hold on to profits, we must hold on to our investment even if there is a temporary loss. If we can hold the investment during these two periods of profit and loss, we can take large profits later on.

---

DCA investing has been discussed in this section for a long time and those who post regularly in this section may have read these discussions well. After watching these discussions I believe those who have invested are now making enough profit. I have already invested in Bitcoin but I started investing in DCA investment method when Bitcoin was worth 17 thousand dollars. Since then I have been investing in Bitcoin using the DCA method. Bitcoin price has reached from $15000 to $72000 and between these two prices I have invested a lot of money and I am quite satisfied with my investment profit. I never expected the amount of profit I got from investing. I have made enough profit but I have not sold my investment yet because my goal is to reach $100,000 in Bitcoin and I will sell some amount of Bitcoin when I reach $100,000. If the market is dumping from here then I will not regret and if the market is dumping I will think it is an opportunity for me to get profit again.

There are people who do not have a stable monthly income like normal salaried workers, but they may have a source of income based on projects, seasons or business, so the accumulation can be different a little bit. Maybe they won't buy every day or every week, but will buy when they receive money and buy according to the percentage of income they have. Regardless of whether that source of income is stable or unstable, more or less, it does not affect your purchase of Bitcoin, unless you do not earn income. Not being able to buy every day or every week for people who do not have a stable income can cause them a bit of difficulty as cumulative buying habits are more difficult to establish than for people with a stable income. Too much buying distance can reduce their discipline in buying.