Topic: Buy the DIP, and HODL! - page 28. (Read 121670 times)

Congratulations to your first ever Bitcoin purchase! Keep doing your plan to DCA and never be discouraged if someone from your family tell you to stop.
You have a firm plan and all you have to do is to be consistently holding it as no one is ever going to stop you.
You'll be in a roller coaster ride and you have to hold steadily to what your beliefs are for Bitcoin.

You misunderstood. I'm not saying other ideas are evil or other strategies are evil but what I'm saying is it will confuse him, The reason is because this is the first purchase of btc he made and maybe DCA is very suitable to apply. So don't cut a line for you to conclude, you have to take many points that you have to align with the idea you want to express.

A beginner needs an approach with bitcoin, so dca is better because he continues to buy regularly. And in essence 2 months later he might be able to add another strategy if he is ready to live it.

Slowly people learn and there are many ways to buy Bitcoin. In other words, your income increases, then you are ready to budget more to invest in bitcoin. For example, previously budgeted 10% of course in the next stage it can be increased to 12% and that is because of the increase in income you get in that month.

It is only the matter of how many Bitcoins you have in the end ? You can accumulate by DCA or any other means, at the end of the day if you have Bitcoins, you are th  real winner 🏆.

Also I think that doing DCA is easy once you know how to do it but the more difficult thing is when to sell your accumalation ? It's hard to sell at the right peak and it is least talked about.

At first I will say congratulation @inearth , welcome  onboard mate . Lidger you sound like bitcoin investment is something that's V. hard or difficult. But to be frank is not easy though , but with proper planning one can easily pull it off without much stress. Investing in Bitcoin is one of the best decision in this space .

@inearth you don't have to worry that much or over pressure yourself.  As long you have enough cashflow, you can continue with your DCAing and you can choose a certain amount that you can use in your DCAing without it affecting your normal way of living , you can keep the accummulating smooth you have enough time to build a better bitcoin stashes. 

As time goes you will surely learn how secure a better long-term investment in bitcoin, and thread like this is always here to guide through that path .

First of all, congratulations to you for making the right investment decision. To start investing in bitcoin, you don't need to have a lot of capital, with a little capital you can also do it just by using the strategy you are currently using, namely the dca strategy. Because if done consistently, your portfolio will continue to grow. Moreover, your goal is to invest for the long term, of course this indirectly means you are building assets for a brighter future.

What is certain is that in holding bitcoin in the long term you will encounter many fluctuating markets and that will test your emotions, you must have confidence that market movements will continue to increase and even if the price drops it is only temporary and that is normal so you don't need to panic. You have to wait and be patient and when it reaches the price you planned, gradual profit taking can also be done. What you need to instill in your mind is not to expect to get rich overnight in cryptocurrency investments, especially in bitcoin because getting rich is not that easy, it takes patience and precision. This advice may be stale, but it's okay if advice continues to be repeated so that we remember our investment goals. Good luck.

You are sounding as if the other methods of bitcoin accumulation is a crime or they are something that are forbidden. Those other methods are there for bitcoin investors. He has started with DCA that's good and fine, but if it happens that money enters his hand and he decides to lump sum into his investment, I don't see anything bad in it. It depends on the circumstances he finds himself, if he chooses to utilise all the 3 methods of bitcoin investment I don't see anything wrong with it either.

You have just started investing and now you need to make your target much bigger. Like all other investors you must take care that you do not get lost in the consistency of investment. Think of investing as always investing. If you approach a job as professionally as you treat it as fun, then the job will seem much easier for you. If investing is stressful for you then I suggest you take a break and think about your future and start again. If you can think about investing in this way then surely you will find consistency in your investment. Based on what is your source of income and how much money you can get from it monthly, you plan to invest consistently with the money left after excluding your total expenses and other incidental savings. If this is how you plan your investment then surely you are successful.

Congratulations on your first bite on investing in Bitcoin, this is a very good decision you've made and one you'll forever be grateful to yourself. I'll love to mention that this decision required great consistency and dedication to keep it rolling and to maintain your investment untampered, you'll have some backup emergency funds just in case you have to service one. If you must continue your commitment in your investment, you must plan your finances properly and be sure to use your discretionary income for your investment. Never panic when you default, it would take you some time to find the appropriate pattern you'll follow to service your DCA regularly.

You're also going to be building your emergency funds alongside your investments so it would be enough for a fallback plan and would help you not to touch your investment for a long term and don't forget to embrace decentralization as centralized exchanges are not to be trusted.

I don't really understand what you meant by investor being more careful when prices are rising? I think you are kind of complicating the idea of the DCA in terms of flexibility, firstly am not completely in agreement that the DCA amount must be the same amount, though it can be achievable for any one who has made a solid plan for it but it shouldn't be a limitation and not to be seen as a burden that one must meet up the same dca amount, it can be increased or decreased based on how of your disposable income readily available for investment over different intervals, secondly I don't think making purchases of Bitcoin with dca strategy has anything to do with being careful when price are rising, generally the dca strategy by definition has no business with the price swings either going up or down, it is very simple to understand that purchases of Bitcoin are made without any form market conditions considerations or limitations, and it doesn't affect the investor emotions just as you have said.

Basically, success in Bitcoin investment is very simple and accessible to even Newbie investors, the key lies in one thing, namely consistency, which is the main pillar of regular investment. Investors only need to allocate the same amount of funds "regardless of the amount" every month or even every week to invest. Starting a regular Bitcoin investment can also be done with a small capital, this strategy makes investors more flexible without having to consider prices and without having to pay too much attention to economic turmoil. By using the DCA strategy, investors will be more regular in investing and more careful when prices are rising, this can help investors in making investment decisions without being influenced by emotions.

I must say that Identifying Bitcoin first is mostly a good thing to do for anyone coming into the space, in as much as am not encouraging anyone to get involved with shitcoins irrespective of the blockchain it's under, a newbie that is very early in his Bitcoin accumulation journey shouldn't have any consideration of getting involved with shitcoins but should rather focus on increasing his Bitcoin size towards accomplishment. But however, if the temptation becomes so irresistible it is always advisable not to do more than 10 percent size of your Bitcoin in other coins, and on important validation imperatively, the advise is not for a newbie that are still very early if at all is necessary.

I'm always happy anytime I see someone starting his or her Bitcoin investment; it gives me joy that another soul has been added to Bitcoin. Your start-up monthly DCA accumulation money is pretty good, and don't see it as small money. The most important thing is that you have started accumulating bitcoin, and with time, if your source of income gets pretty good, you can increase your monthly bitcoin accumulation money. Since you have started your bitcoin accumulation journey, always use the money you will not need for like 4-10 years or more so that you will not depend on your bitcoin investment to solve your daily expenses. There's no need to advise on the type of bitcoin accumulation strategy to use in accumulating bitcoin because I have seen you already adopt the DCA strategy, which is pretty good for a newbie like you, and it will allow you to consistently accumulate bitcoin no matter what the price of bitcoin could be. And for the sake of safety, next time don't show your bitcoin online so that you will not be a target for scammers or people close to you. I wish you luck on this amazing journey.

Runes and Brc-20 are under the Bitcoin blockchain still it doens gurnattee that these shitcoins will be successful if Bitcoin do. The little advantage they have over other shitcoins is that the blockchain which they are under is more reliable and works better compared to other blockchains. Although shitcoins are still shitcoins not minding which blockchain its under. As long as its not Bitcoin i cant completely accept it as an asset which great value like Bitcoin.

Plus ser, another additional shower thought.

I posted that you, as a newbie, will ABSOLUTELY be persuaded to buy a shitcoin, and if they prevail after resisting them with EVERY PART of your will, then buy the shitcoin inscribed or etched in the Bitcoin blockchain - Runes or BRC-20.

¯\_(ツ)_/¯

Because at the very minimum, we probably should own those assets that are in the superior blockchain with the least technical debt - Bitcoin.

At the end of the day we have the right to choose how we want to go about our investment. Its a matter of choice no force we are only sharing our opinion and i hope you don't take it the wrong way. Since you choose to spend your Bitcoin meant for investing then you are literally saying your expenses for shopping online and making other payments do come from Bitcoin which you are investing. The question you asked should be redirected to you!. If there is a means for you to pay through fiat when spending while pay through Bitcoin and not just Bitcoin but Bitcoins you are investing for long term.

Of course everyone has different strategy but using your Bitcoin for payment is not a strategy for investment. However, everything is left in your hand. You have every right to what you choose to do with your portfolio.

Regret always comes too late, two years ago btc was in a fairly low price range after some big fuds where the btc price at that time dropped to $15k. People couldn't afford to buy, not because they didn't have the money but they didn't have the mentality. Yes, today you are trying to buy the first BTC with your plan for long-term investment, you have a strong mentality and I hope you can apply the DCA strategy with follow-up purchases until you reach your accumulation target. Keep your idea of ​​DCA and never be tempted by other methods that can confuse you with the situation in the investment you are making.

Know that price is not a benchmark that must be measured from the start, but you can calculate the amount of btc that continues to increase every week with your routine accumulation every week. It is not easy, but I am sure you already have a good enough principle by choosing to invest in Bitcoin.

With the planning that you have done, of course we all want to encourage you with long-term investment planning, manage your cash flow as best as possible and don't be too emotional because your target is for long-term investment.

In addition, buy on the exchange and make a withdrawal when you reach $500 so that there is no waste of costs if you make a withdrawal every week. Hold and have the safest wallet, we will look at a bright future because BTC has a limited supply.

Probably it is better to attempt to default towards recommending and/or considering folks to be investing (DCAing) into bitcoin on a weekly basis, rather than  a monthly basis, even if there are some guys who invest on a monthly basis and also weave in their DCAs and lump sum investments from time to time.

Another thing, I think that it tends to be fair to consider that the amount of discretionary income is likely to go up with the passage of time, not just in nominal terms, but in real terms.. which I am suggesting that I think we should overall want to presume that guys who are serious about their attempts to accumulate BTC, with the passage of time, they are figuring out ways to increase their discretionary income.. so in that sense the amount invested into bitcoin on a weekly basis is not going to be flat.. and so each year may well increase, such as 10% per year at minimum... but yeah there will be exceptions, yet 10% per year seems to be a reasonable and/olr conservative estimation of what should be able to be achievable for most normies to figure out.


In regards to UTXO management, it may be better for @inearth to allow his exchange balance get up to somewhere in the ballpark of $500-ish in his account before moving those BTC to his private wallet.  Sure there is risk to keep BTC on an exchange, yet it also can have its own problems if guys with low incomes and low BTC purchase amounts to be transferring those low amounts to private wallets and creating a whole bunch of small UTXOs and then undermining their own investment down the road if they find out that their many small UTXOs are going to cost them a lot to actually spend, whether they try to spend them individually or if they try to spend them by combining them in transactions.

I want to congratulate you on taking the bold step to invest in Bitcoin at the early stage of you getting involved with it. What you are doing now is like learning on the job because you already started your investment while continuing to improve your knowledge and understanding of Bitcoin. I also love the fact that you are already thinking long term even with your first investment, so I'm happy and proud of you and I will encourage you to continue buying and storing in your Bitcoin in a wallet that you control the private key and never the centralized exchange from where you bought the Bitcoin. Once again, congratulations on taking that bold step, it could be one of the best decision of your life.

Investment depends entirely on an investor. DCA is only an investment strategy. DCA investment strategy is considered as the best investment strategy for investors so that an investor can invest with ease and the investment does not feel pressured. Basically, in this investment method, investors can invest from a very small amount of money to a very large amount of money. 

In DCA investment strategy, the investor can invest a certain amount of money every month or he can invest every ten days or every 20 days the investment will be completed as per the investor's wish. When a subject has its own complete independence, I think that subject will be very easy for anyone. If you can invest consistently for a long period of time keeping your goals in mind, then at the end of a period of time this investment will give good returns to every investor, especially those who invest in DCA investment method.

Why do you need to calculate how much and how far he plans to build his  Bitcoin portfolio, he just made an entry yet and never did he talk about how much is his budget for every purchasing price. He started with $27 but that may not be the usual for him, he may decide to go higher or lower considering how comfortable he is looking at his actual funds balance and also his investment planning might be weekly, bi-weekly as the case may be since he never mentioned.

Instead of all this calculations why not encourage him to be more resourceful and consistent with his investment, many people kick off their investment journey like this but were not able to keep it going considering some underming factors (not in the case of him) but calculating this way puts him to be more relaxed and comfortable with the way he might have planned to push his investment portfolio.