Topic: Buy the DIP, and HODL! - page 29. (Read 121670 times)

This is a very nice and smart move dude!. And I want to believe that this is what you can afford to..., because everyone is advised to invest with a cent that won't disturb them later run and also make sure to keep your reserve and emergency fund which can or will help you solve some challenges that may arise because it's going to help you grow your portfolio successfully. $27.15 may look small depending..., but to me I think the amount we are accumulating with doesn't really matter rather what matters is, how well we are managing the investment, how consistent etc.

Let's do a little calculations.
DCAing with $27.15 a year will give us = $27.15 × 12 = $325.8

So in 5 years time we'll have = $325.8 × 5 = $1629

Wow! It's a nice one just imagine you have been doing this for some years now and one funny thing about this investment is that when there's a promotion in your job or office,  that's an increase in your source of income, it will also affect the amount one use in accumulating if they wishes to..., Good luck.

Good luck on your journey, ser. It will not be easy, you will be persuaded by shitcoiners. In fact, you might buy and hold  shitcoins and you may or may not make more units in Bitcoin with them. But there's something that's common among owners of coins that are not Bitcoin - They always have an eye for BTC, and they know that sooner or later, they will need to buy it and HODL because they have no other choice. They're network of choice will not exist after a decade, unless they're in one of the handful of lucky blockchains. I truly believe that there will be a maximum of five blockchains, that will actually matter, and in existence within two decades.

Congratulations on your first investment, it's great that you're not investing in other shitcoins and not just waiting for dips to buy. It is a good thing that you are buying the best method of Bitcoin "DCA", and decided to hold it for the long term. And your thoughts are very beautiful.

Now I will tell you to build your strong source of income, and always keep reserve fund and emergency fund ready. And things all considered, then invest that money that you will never have to withdraw compulsorily. That is, your holding should not be stopped in any kind of unexpected situation.

There are many new investors who lose their money by investing or trading in other shitcoins. But you come directly to DCA instead of going to them which is a very good thing. I think every new investor should have the same mindset as you. And without wasting your time and money elsewhere, you should be attracted to Bitcoin's DCA, and have a long-term plan to start "hodley" through DCA and gradually build up your Bitcoin stash.

The First bitcoin investment in my life.

https://talkimg.com/images/2024/10/17/8hFpD.jpeg

I started the first investment of my life today, it's a new experience for me. Although it is much less in amount, but I will continue it regularly, and thus hopefully one day my portfolio will be much bigger. I have high hopes for Bitcoin's potential and its future. So I will now convert this investment into a long term plan and invest regularly on a monthly basis. I have learned about DCA, and I am proceeding through this DCA from now on. For newbies like me, I say, research properly and keep yourself updated and go ahead with a long term plan with faith in Bitcoin, hope everyone can succeed in this journey one day.

Money that we will be using within a short period of time shouldn’t be left in bitcoin. Lots of people do make this kind of mistake, they always leave everything they have in bitcoin, so they do end up converting to their local currency when they are in need of money, but if you are not lucky, you might be selling at a loss. So the best thing is that only the amount that you won’t be using within a short period of time should be left in bitcoin, others should be in stable coins. Even when there is a dump in the market, it’s not really going to have any effect on your coin, or it should be converted to local currencies.

If you keep on holding bitcoin without selling, then you are not making use of bitcoin for the primary purpose. Bitcoin was created to serve as an alternative payment method, but people now prefer to invest and hold bitcoin rather than spend it.
 
The only reason why I am not spending bitcoin yet is that I haven’t seen any store accepting bitcoin as a payment method. I would have really loved to try it out.

And an easy way to solve this is by investing in the first year with Wallet A. And in the second year you invest you can create wallet B and so on. So it's not wrong and it's very simple to do. With the method you explained above, beginners may be a little confused about taking important points with the actions they must take. So it's better to arrange better investment planning before you are ready to run it.

Actually, an idea like that is not good and we should invest with money that we have prepared, for example 10% and it will not interfere with our daily expenses because we still have cash that we have because we only divert 10% to invest in bitcoin. Don't use a strategy that is wrapped in a wrap that makes you even more dizzy in making decisions, run me in a simple way and that's better.

I understand why frequently guys in their early BTC accumulation phases don't really want to spend their bitcoin because they are concerned about ongoingly growing their bitcoin stack size, and no problem with that, yet I agree with you Kelward that even the early BTC accumulators can spend some BTC here and there to support the bitcoin transactional economy (even if it might cost them more to engage in such transactions), and I would refer to the transactions of early BTC accumulators to merely be spend and replace. I  used to do those kinds of transactions with bitcoin in my earliest days (including quite a bit of gifting of BTC to others), and always within a few days of my spending bitcoin or sending bitcoin to others (as gifts), I would replace the bitcoin with at least the same amount that I had spent, and many times I used the replacement practices as a way to make sure that I bought back more than I had spent, perhaps even frequently double..

So for example, if I had ended up sending $5 or $10 worth of bitcoin to each of 7 people and it cost me around $60 worth of BTC to engage in those 7 transactions (including fees), then I may well end up replacing those spent BTC with around $120 or more worth of BTC..so I end up with twice as many of the BTC that I spent, even though surely it cost me dollars to engage in those transactions, but I got the satisfaction of using bitcoin transactions, practicing my own transaction skills, interacting with other people about bitcoin and hopefully getting some people to pay more attention to bitcoin.. I am pretty sure that over the years I had purposefully sent bitcoin to 30 to 50 different people, and there are not very many of them who ended up really getting involved in their own BTC accumulation, which surely some of them I lost contact with, yet many of the ones I talk with these days are having some regrets about not getting more involved in BTC, and by the way there are a few of them who are actually somewhat bitter about bitcoin too.. which I doubt that I contributed to that bitterness.. even though it can be difficult to know sometimes about those kinds of matters and the seemingly bad investment ideas that they have or the bad advice that  they are getting in terms of what to keep in their investment portfolios, to the extent that they might already have various other investments.


That is not a bad point either.  If a person already has an ongoing persistent, consistent and even somewhat aggressive regular DCAing practice, he should not be bothered by a bit of spending of BTC at various points along his ongoing BTC accumulation journey since perhaps his regular DCA amounts largely cover any of the spending of his BTC.. but sure, let's say for example that he might be DCAing $100 to $200 every week (maybe with an average of $150 per week), then maybe he should not be bothered that once a month or every few months he ends up spending $50 to $100 worth of  BTC, yet at the same time, if he were to make some kind of a large purchase with his BTC that goes over his DCA amount or even that it might be equal to several of his DCA amounts.. for example, he engages in a private transaction of a guy who is willing to sell his motorcycle for $1,500 (which is like 10x his regular DCA amount.. which is about 10 week of his regular DCA amount) and to receive BTC.. That kind of a BTC transaction might still be a good one to employ, even though there might be a need to spend and replace within a relatively short period of time (such as within a week or two of the transaction, especially for a guy who might consider himself to still be within the earliest of stages of his BTC accumulation).. On the other hand, if the guy does not have sufficient cashflow, or reserves in order to be able to spend and replace the BTC that he would use for the motorcycle purchase transaction, then perhaps he should not be buying the motorcycle, unless the purchase were to reasonably fit into the classification of an emergency (such as his regular transportation broke down and he needs the motorcycle to maintain his income, then he might be justified to take the buy and replace money from his emergency funds once he had bought the motorcycle with bitcoin and then to spend a considerable amount of focused effort to rebuild his emergency fund back up). 


It does not matter that "technically" bitcoin is a cryptocurrency and/or there are various other legislative, regulatory, and even financial institutional frameworks that lump bitcoin with shitcoins and try to put bitcoin within the same category.  Both the term crypto currency and also digital currency or digital asset can be quite confusing, ambiguous and even misleading when there are not sufficient attempts to distinguish and clarify bitcoin from shitcoins (which shitcoins is every other project that does not sufficiently link to bitcoin and/or creates its own token).

Sure there might be some value in some of the shitcoins, yet in a thread like this or a conversation around bitcoin, it can become quite a slippery slope problem if we are starting to get into discussions to clarify which shitcoins might be less shitty and we might be throwing out ambiguous language that may well end up inadvertently (or perhaps even intentionally?) trying to pump slippery-slope talking points about some shitcoins being less shitty than others.

Just say no to shitcoin discussions in threads like this.. or go to other threads, and lets try to stay on topic and if you feel some needs to mention some shitcoins make sure to clarify what you mean in relation to bitcoin and make sure that you are not coming off as pumping them or promoting them here, because that is overly distracting and not relevant and what the fuck are we going to do? start talking about more than 20k different shitcoins that are engaged in various kinds of affinity scams in which they are trying to make connections with bitcoin and you want to argue those points by suggesting that bitcoin merely falls into such shitcoin category that you want to refer to as "crypto" or "digital assets" without clarifying what the fuck you are talking about at least in regards to how it might relate to bitcoin in some way other than misleadingly implying that bitcoin fits into such category?


I cannot disagree with anything that you say here, and it may well be worth emphasizing that DCA works with bitcoin so well because bitcoin is justifiable as a long term investment, so that even if we were to fall into a coma and not be able to access our bitcoin for 10 years and whether we were to keep DCAing during that time or that we just lost access to our bitcoin during that time, when we were to wake up from our coma 10 years later, we would likely have a decent amount of confidence that having value in bitcoin was a good thing to do.. versus having value in any of the various shitcoins.. it is difficult to figure out any shitcoin that you might be able to have anything near the same level of confidence that it is still going to be around in 10-ish plus years... and sure, if you are able to establish such confidence in one or more shitcoins, then sure that may well justify DCA buying into such shitcoin - yet your analysis and studying and figuring out which of those shitcoins might qualify as a long term investment should clearly be understood to fall outside of the topic of this thread, even if there were such a shitcoin that actually could be figured out to be reasonable eligible for a long term DCA investment approach.


You seem to have your dates wrong.  BTC did not reach $50 plus prices until early 2013.. so 2011 did have a mid year price peak of around $32, but that was not long lasting even though surely earlier in 2011 BTC was trading at way less than $1 and even reaching $1 per BTC seemed like a dream for some of the then active BTCers (and surely I was not one of them or even personally know about that beyond what I read and looked at charts), yet with the price volatility of 2011, I like to consider around 2012 as the real beginning of BTC's price history and starting to expand to more people, even though surely it remained niche for a long time, yet 2012 seems be a fair starting point in regards to measuring BTC's price, since it started 2012 out at around $5 and had a pretty gradual increase through the whole of 2012 to reach around $13 in the beginning of 2013, and so to get back to your point of going from our current BTC prices to $1 million is ONLY around 15x, and we have had some history of BTC price moves to realize that 15x should not be unreasonable to expect, even though at the same time there are a lot of poo-pooers of expectations of those kinds of price moves.. so in 2010 bitcoin hardly had a price, so Jesus, $50 would have been 100x of BTC price appreciation, but then by mid 2011, BTC HODLers and observers of BTC prices had already witnessed a pretty violent upsurge to $32 and a correction back down to $2-ish.. and then perhaps a slow crawl back to $13 through late 2011 and throughout 2012. 
 
So even though I am poo-pooing your point, I am starting to somewhat agree with you too... in regards to perspectives of where bitcoin prices were at and where it might end up going at various points in time, and there were always going to be some optimists and others who were more doubting about bitcoin price performance potentialities, and so asymmetric information existed back in the early days just like asymmetric information exists now with folks assigning their own ideas of UPPity BTC price probabilities and some folks seeming to be more informed about what might drive BTC prices upwardly as compared to others perhaps not really understanding what bitcoin is.. but still speculating on bitcoin's price performance as if they knew what the fuck they were talking about. 

There are always advantages of being informed, yet even if some of us feel that we are informed about bitcoin, we do not need to go bat shit crazy in regards to investing into bitcoin.  We can take relatively modest positions in bitcoin and profit greatly from our relatively modest position in order to have some humility in regards to considering that it is possible that our bitcoin outlook could also be wrong.. so in that sense, even if someone has asymmetric information about bitcoin, that does not necessarily meant hat they end up needing to bet the farm on bitcoin in order to profit stupendously from their having such asymmetric information.


Yes. . A lot of folks are going to be disadvantaged because they are not figuring out ways to get into bitcoin, so we likely still ONLY have around 1% of the world's population into bitcoin, even though some folks try to act as if bitcoin adoption is mature and all of those kinds of bullshit talking points, when the fact of the matter is that we are still quite early in bitcoin and some of the poor people and perhaps just normies (whether poor or not) around the world are just going to end up having to come to bitcoin at the time they figure out that they should not ONLY know about bitcoin but they also should act to invest into it, even if they are merely able to invest relatively small amounts whether that is $100 per week or $10 per week or whatever amount they are able to figure out to have available from their discretionary income.. to the extent that they have discretionary income since if they do not have discretionary income then they are not able to invest into bitcoin.. so they would end up being advantaged by bitcoin in indirect ways rather than in direct ownership ways... indirect ways of advantaging from bitcoin is just to have more fair systems of money that is available to all.. even if some folks might not be ready, willing and/or able to buy any of it at this point in their life.


So yeah, if $1 million is a mere 15x from here but if bitcoin has decent potentials of reaching 30,000x from here. .then there is still a lot more room to the upside, even though it could take 50-200 years or more for bitcoin to reach its more full potential in terms of a fair price relative to other assets and/or currencies that still might exist 50-200 years down the road, yet many of are likely to have way shorter investment timelines, including having investment timelines that might fall in the category of 4-10 years or perhaps more such as 20-40 years, but not that many people even have 50 year investment timelines, unless they are planning on building intergenerational wealth through bitcoin or otherwise. 

Anyhow, along the way and in terms of bitcoin's likely ongoing adoption and 50-200 year price appreciation timeline, many of us should be able to figure out that it still remains a good idea to try to get some bitcoin in case it catches on - which with the passage of time, bitcoin seems to be catching on more and more and more.  In the past 15-ish years, or even in the past 13 years if we measure from early 2012, bitcoin seems to be catching on in terms of adoption, in terms of various network effects (as outlined by Trace Mayer) and in terms of its ongoing price appreciation.. .. and every year seems to have more and more adoption and expansion of the various network effects, even though the adoption level in regards to total number of real-world people on the planet is still likely quite low  - perhaps in the less than 1% levels.. Adoption levels seems to still be quite low in terms of institutions and governments too, even though people seem to get wrong impressions that adoption is high and "it is too late," and blah blah blah.  It seems that are also several folks (including institutions and governments) who are holding BTC are accumulating way more BTC than their fair share, yet these are speculations and they are not spread out across the population or representing large adoption, even if folks seem to erroneously get the impression that BTC adoption is mature and/or maturing and a lot of those kinds of nonsense misimpressions..

Sure, we cannot really stop the various ongoing speculative practices of people, institutions and governments, and many of us are likely advantaged by such speculative practices too..which seems to be part of how free market dynamics work in regards to price discovery and those who find out about bitcoin and act early after their having had found out about bitcoin have potentials to being advantaged by their actions so long as they do not overdo their actions and end up recking themselves through their own greed and/or imprudence.


Sure on an individual level, it is likely good to think about your relationship to bitcoin in terms of an investment, and you will likely profit stupendously from such perspective, yet there is also no reason that you cannot attempt to support the bitcoin ecosystem in other ways in regards to transacting with it, which likely is also good for your investment to have people transacting with bitcoin whether it is first layer or second layer.


That is why spend and replace is likely better than just spending.. especially for guys who might recognize and appreciate that they are still in their early BTC accumulation stages.


That sounds reasonable.  You can have some separate portion of your BTC holdings that you keep for spending.. but you still might want to spend and replace when you do end up spending (or transacting with) some of the BTC that you might keep in hot wallets rather than in cold wallets.... .. There can also be degrees of hotness and coldness in terms of how easy the BTC might be to get to.. and like if you have some bitcoin on your phone, you might not carry much more than what you are keeping in your physical wallet.. unless you are purposefully going to make a large transaction and that might just be once in a while that you might put large amounts of BTC inside of a hot wallet rather than keeping those larger amounts in more difficult to access places that you consider to be safe and/or private... In your earliest stages of BTC accumulation, you might not have very many BTC wallets or ways of keeping your BTC because you might not even have very much BTC, yet the longer that you are in BTC and the more BTC that you accumulate, then you could well realize that it makes sense to keep bitcoin in various locations and different levels of security and/or privacy and/or accessibility.. which some of the solutions might be free and some of the solutions might cost money and the more BTC that you have the more justifiable it becomes to potentially spend more time, energy and/or money in regards to securing those larger quantities of BTC.


It surely can end up costing money (or BTC) to engage in transactions and even sometimes just maintaining our own BTC security /privacy, there might be some needs to sometimes spend money (BTC and/or transaction fees) to move BTC around.  It is not unreasonable to have some costs, and sometimes guys do need to spend some money just to put themselves into a better position or perhaps even to support aspects of the bitcoin infrastructure.  Let's say that you have a cheap-ass uncle who is interested in BTC, yet he has a lot of hesitancies, and one of them is costs, so you might engage in several transactions just to sell him some BTC and even take a loss on the sale.. just to get him started, yet at the same time you have spend and replace ideas, so it might end up costing you quite a bit, and you might not even tell your uncle about all the costs that you experienced just to help to get his whiny ass started investing (or at least considering investing) in BTC... which might be for his own good, for the good of bitcoin and even potentially help your relationship (or you perceive to be part of your family duties to be helpful - even if sometimes some of those folks end up not being grateful to your various time, energy and money spent to help them out).


All of that does not need to be learned prior to getting started investing into bitcoin, but they are good things to learn, yet people are going to make their own choices in regards to the level of their learning, including if they might not learn until they make a few mistakes. 


You should be able to figure out ways to have money in a variety of places, especially the longer that you invest into bitcoin and the better you get at cashflow management including having various kinds of back up funds and also various ways that you can spend, whether it is spending with bitcoin or spending with fiat (or perhaps even using shitcoins, not that I recommend shitcoins as an investment, but there could be ways that shitcoins might help you to have additional payment options or moving around value options).   It is similar that you might have some money in a bank, some money under your mattress, some money debit or debt cards, some money in various exchanges, money in a cold wallet, in a hot wallet, money in intermediary wallets, you might have some lightning network wallets, and you might even hold some shitcoins (not that I recommend shitcoins for investing).   By the way, you could also have various funds for family members, you could have a business, own property that generates rent and have your own business too that has various ways of holding value that are in different kinds of accounts in which some accounts are accessible to certain people and other accounts are accessible to other people.


Of course a person who earns in bitcoin is going to have some different dynamics as compared with someone who earns in fiat, and there could be a combination of ways of earning... but if a person is ONLY earning in bitcoin while have most if not all his bills in fiat, then he surely is going to have to figure out systems in which he is regularly selling BTC. .so it is not easy to presume too much in regards to the various scenarios and how the balances would need to be made to consider how much discretionary income is coming in and how much of that discretionary income to allocate towards bitcoin investing.


Sure.  It is true that money that is needed for fiat expenses should be stored in fiat rather than in bitcoin, and so there could be some complications regarding how much fiat to keep in various float funds or emergency funds or reserve funds, and usually emergency funds should be a minimum of 3 months of the value of expenses in the currency that they are paid.. presumptively in fiat.


I am unclear how such a statement could be completely wrong since there are going to be guys who segregate their funds into different accounts and there will be other guys who will segregate their funds on paper but keep the funds co-mingled, so there can be a lot of individual variety in regards to the various ways that money is kept, how it is held and whether it is kept separate from other funds.  Sure if guys are screwing things up, making mistakes or even creating too much work and/or stress upon themselves in regards to how they are holding, managing or even conceptualizing their various kinds of funds, then they likely need to fix their system

I leave it up to you how many wallets you use for investing. I will not comment on this. But why would you save your expenses in Bitcoin? Is your salary paid in Bitcoin? Even if your salary is in bitcoins, do not save bitcoins to spend on daily needs. Split your earned bitcoins and convert bitcoins to fiat to spend on demand. If your salary is paid by fiat then only convert the money saved for investment into Bitcoin, the rest you save in fiat.

You can take different approach to investing, everyone has investment strategy. In this case you must be aware of the basics. For example: investing for the long term, being consistent, ensuring protection and managing investments properly. You can set up some funds to manage the investment successfully, but these must be set up by fiat. Never store essential funds in Bitcoin. Because you can suffer from it in your time of need. As you mentioned, "Bitcoins should be stored in a separate wallet for expenses", this statement is completely wrong and such practice should be quickly abandoned.

You proposed that it would be advisable to have 2 wallets one meant for spending and one meant for holding but what is the need of converting that money to Bitcoin if you know you are going to spend it
I'm just saying if you are in need of that money when Bitcoin is in a deep you will end up running at a lose why not just keep the money in your local currency where its worth won't depreciate when it's needed and only buy Bitcoin that you intend to invest ?
Well this is just my opinion by the way

Money meant for expenses and money kept for investment are different. It is very wrong to spend on items from your investment portfolio, that is a bad idea. It is a criterion to have several wallets. One wallet should contain the amount of BTC you want for spending and the other should be specifically only for your investment alone. You can't be spending so much fees every time you spend from the same wallet you are using to invest.

Where to safely store purchased Bitcoin is part of the basic knowledge newbies need to start investing in Bitcoin. They are called basic knowledge because the form the foundation of healthy investing and indispensable if the investment is to be safe and sustainable. Anyone who do not know that storing Bitcoin in centralized exchanges is risky still have a lot to know about sustainable investment in Bitcoin because what will be the achievement of the investor if after buying Bitcoin for months, all are lost to one hack of the exchange where the coins are stored. So, the basic knowledge of how to buy, send and receive and where to store the Bitcoin safely constitute the key knowledge the newbie investor must have even from the commencement of the investment.

I don't think there is any point arguing which method is the best and which method isn't because what matter most is how well you are able to HODL and not yield to the pressures to sell at the sight of profits or panic to sell when price is dropping. There is no doubt that the DCA method is a great way of buying Bitcoin given the ease and comfort it gives the investor but there are also other methods that can be used to achieve the same results and everything boils down to how well the investor can managed the purchased Bitcoin to meet his objectives. I therefore think that any method of buying is good provided the investor have figured out how to hold the investment for reasonable period of time that will enable the investment yield the result the investor would have set from the beginning. 

DCA method is the best strategy among these strategies how to hold bitcoins for long term. Because if you invest in regular bitcoin it will be the DCA method, and those who bought bitcoin in the past and held until now basically believed in bitcoin and today it is full of success. You can still reach success only need to take initiative, only by following right concept and holding strategy according to DCA strategy you will surely be able to hold investment for long time and in future you will get expected return in Bitcoin.
Here an ordinary investor can participate and a big investor can participate, just be careful from the last side of the strategy. Because every time you invest in Bitcoin, it will save the purchase price and you will be successful in investing.

$50.00 during 2010. How about if a person said that it's possible, with 3% probability, that Bitcoin might surge to $50,000 in three cycles, 99% of people would probably say that he needs to go to a doctor to check is sanity. But what a majority of people never care to notice is that the total supply of fiat has always expanded, which THEN cause the prices of commodities, goods, services, EVERYTHING to increase.

Why were the prices of goods and services during 1950 much cheaper than the prices of goods and services today? - It's the money supply, https://fred.stlouisfed.org/series/M2SL

Yes, before Newbies make any decisions including choosing where to store bitcoins, they must start based on the belief whether they are truly competent to take on such responsibilities. Some Newbies who are just starting to invest in Bitcoin choose to store assets on the Exchange because they do not fully understand how to transfer and store bitcoins in a personal wallet, but this should not be left for too long because if the exchange is hacked, they will not only lose personal data, but also lose all the Bitcoins stored there.

They should know that Bitcoin transactions are irreversible, so they need to learn each process step by step to avoid the risk of accidental errors. Keeping assets secure is very necessary, such as not trusting anyone, storing Bitcoin in a private wallet, using a strong password and storing most of your Bitcoin in a wallet that can control the private key. These steps need to be learned properly so that they can become a bank for themselves.

Yes that was the exact purpose why Bitcoin was made, rather it began serving alternatively, having to answer if Bitcoin wasn't as eligible to give ROI would you be willing enough to own/hold any portion. The only reason why we have this much market population in Bitcoin isn't just for transactional purpose, payment of goods and services but rather interest where picked majorly as users who chose to invest.

Removing percentage of the DCA amount to pay for items is just another way of selling out your Bitcoin because it is being spent out. I prefer to keep what is meant for investment, just alone for that specific purpose, having to pay for items can be dealt separately from a different portfolio not from the exact one which i have been DCAing throughout. Imagine moving your Bitcoin from a cold wallet just for payment with fees attached which can  be reduced by having a piece in your hot wallet to serve those minor purposes. Multi portfolio will be required with the option of doing transactions and holding at the same time.

$1 million! I mean, as oddly as it may seem, that’s just how $50 would have looked back then in 2010 when Bitcoin was still breaking out from being just an idea to gain mainstream. I mean, up till now it’s still an idea to some and haven’t gotten that wide acceptance yet in a highly and densely populated world.
Make no mistake, it is coming to be what might be of use for everyone and by that, there would be much pressure on the demand which can push price to even the unimagined extent in the millions and investors to have hold would be proud of the years they’ve had to maintain calm and did hold, despite the many criticism/FUD that went around.
At the moment, price is pushing upwards and we are surely smiling, which makes me wonder why we don’t seem to accept these rise and falls to be the way things are in Bitcoin and not entertain fear when it dumps.

I think you didn't understand the person's point, he mentions that he has little knowledge about bitcoin and crypto. In terms of what you mentioned that he might have separated bitcoin and crypto, after reading your statement I feel like you don't have the slightest knowledge of bitcoin. It is very important for you to know this little thing about Bitcoin, Bitcoin is a cryptocurrency coin like other currencies even Bitcoin is also called a decentralized digital currency.

When a new investor comes to us to learn about investing in DCA method, we should guide them through the basic steps of investing in this method very easily. As such, it is possible to invest in the DCA method even with minimal knowledge of Bitcoin. Ensuring financial management i.e. having specific source of funds. One has to accumulate bitcoins continuously for long term on weekly monthly basis according to own ability irrespective of income expenditure. Be ready to buy bitcoins continuously i.e. immediately instead of waiting for dip time only.

You are wrong. A new bitcoin investor doesn't need to understand bitcoin circles before he can start accumulating bitcoin or trying to figure out the best time to accumulate bitcoin. Just because most people missed accumulating bitcoin when the price was very low doesn't mean we have to wait for the dip or figure out how to accumulate bitcoin in a dip. We have to put the past behind us and accumulate bitcoin when our money is readily available because we are not certain if bitcoin will dip today or tomorrow. A new bitcoin investor should be worried about his finances to know how much of his discretionary funds will be allocated to his bitcoin investment. And since bitcoin is not a scheme to get rich soon, a newbie shouldn't start his bitcoin investment with the buy the dip and hold strategy; it will delay his bitcoin accumulation plan since he cannot figure out when a bitcoin dip could happen. What a newbie needs to do is to start accumulating bitcoin with the DCA strategy either on a weekly or monthly basis, which will allow him to consistently accumulate bitcoin even though the price of bitcoin is high or low, and a newbie should also use the money he will not need for 4-10 years or more to accumulate bitcoin since bitcoin is not a scheme to get rich soon so that he will hold his bitcoin for a long time since he will not depend on his bitcoin investment to survive.

It is not advisable to keep your funds which you will need in short-term in bitcoin because you might run at loss when you will need the money if bitcoin price is in the dip, and you will have no option than to tap from your bitcoin investment to balance up the lost since it is a necessity. Using bitcoin for payment is good but I will not do that because bitcoin is more precious when you see it as an investment worth keeping than spending because bitcoin is going to get more matured in future with high value.

However, if you are the investor that is being paid in bitcoin, it is better that you invest your DCA amount and convert the rest to USDT because of the price fluctuation in bitcoin so that it does not affect other expenses that you are to do, otherwise, you will run at loss. This is the same reason why your emergency funds should not be in bitcoin if you are a new investor so that when a real emergency comes, and bitcoin price is at the dip, you will not be forced to sell at loss. Don't hold too much of bitcoin when you don't have enough fiat on you because it seems like gambling to me.

I understand the concept of hodling your Bitcoin on the long term and that is the essence of DCA method so that we can be focused on the long term investment plan. But remember that the primary purpose of creating Bitcoin is for p2p transactions to bypass third parties like going through banks. I believe that inasmuch as we're hodling Bitcoin on the long term for investment purposes to keep getting ROI in the future, this shouldn't stop us from spending some of it on the short term. If you remove the percentage for your DCA method, I believe that you can choose to pay for items with Bitcoin, hodling Bitcoin shouldn't eliminate the need to spend it on the short term. If you have a budget for your expenditures from your income and you've removed the percentage for DCA into the long term, you can leave some of the amount in Bitcoin for short term expenditures.

Ofcourse if you're on DCA method, you'll just keep buying despite the price of Bitcoin, and short term price speculations wouldn't matter much to you. But this doesn't mean that there's not a more profitable time to accumulate your bag, as a matter of fact when we're in dip is the best time to accumulate more if the hodler is capable to increase more funds. Keep buying as much as you can, hodl and wait for as long as you've planned into the future.