Topic: Buy the DIP, and HODL! - page 293. (Read 123781 times)

Hmm, pretty interesting, mate!
I am also joyous to watch the Bitcoin raising because every Bitcoin enthusiast has a dream like you that the price of Bitcoin should be raised in the same way until halving, and as soon as the halving is done, the price should enter an extra stepped bull run. Honestly, I will be crazy if Bitcoin crosses $100,000 at the end of the year. I have also invested in Bitcoin like you and I hope it will make me a millionaire next year. 
 
In the rest, brother, when Bitcoin crosses its $100,000, I will sell out 50% of my Bitcoin investment, make a profit book, and seek more investment opportunities to organize profit again. 
 
The rest of you express your opinion about whether it will be better to sell out your investment in the bull market or not. Share your opposition with us.

wow! I must say that I'm even jealous of how early Youve started making investment into your future. The mistake most old people make is that they assume that you only start investing into your future while you are approaching your retirement age. Accumulating Bitcoin during this phase of your life that you're still young with little or no responsibility to disturb your mind will definitely make it easy for you to accumulate Bitcoin with the use of the DCA strategy.

Imagine your parents give you a monthly allowance on a regular bases and you decide that whenever you receive it you will invest it into buying a fraction of Bitcoin? If you're consistent with the routine within the next five years you might possibly still remain under thier care you must have accumulated a very huge amount and it's at this stage that you wouldn't necessarily get bothered about selling off your holdings since you can literally ask your parents for money in cases emergency. If you're able to start accumulating at this age maybe at a small ratio because of your financial strength before you would have had a job, it would have become an harbit that you've grown matured into and it's just going to be easier to increase the percentage of your investment into an higher amount and with time you will be surprised that you've gotten something close to your 8BTC plan for the next 20 years although you might not necessarily get up to such amount of BTC within such space of time

You are quite fortunate to still have your parents taking care of most expenses in your life at this stage of your life. And I love the fact that you have not taken this for granted and spend the money you get recklessly on other things. Not many kids will think the way you are thinking by investing in bitcoin. Not many people have that kind of opportunity as you do. My advise is that you should utilize this opportunity and gather as much bitcoin as you can, before you know it you will be proud of your bitcoin holding. It's good to realize yourself early in life and make plans for the future.

Of course, we do not know the future with any kind of precision, but in 20 years, it is quite possible that anyone trying to reach entry-level fuck you status, would ONLY need  less than 2 BTC.. .. actually 1.672 BTC to be more precise - and so if you are aiming for 8 BTC, then you likely would be nearly 5x more bitcoin than needed to be at entry-level fuck you status.

I think that my main point is that you likely do not need as many BTC as you believe, but surely it does not hurt to accumulate extra because we cannot really know about future projections, yet if the future projections play out in terms of BTC price performance and in terms of your ability to accumulate BTC, at some point the paths should end up crossing, and it would be nice for the paths to cross earlier rather than later, but we do have to attempt to prepare ourselves for a variety of possible scenarios, so it likely does not hurt to overly prepare and then end up arriving sooner than expected, so long as we do not end up blowing up our own situation through some kind of devolution into gambling strategies rather than investing strategies.

Another thing that if your goal is to accumulate more than 8 BTC in 20 years, that is surely quite ambitious... but it is not impossible.. yet I would imagine that you would need to get up to being able to invest $500 or more per week, and that still might not get you up to 8 BTC in 20 years, and yeah if you are not yet up to those kinds of levels, you would be figuring out ways to work yourself up to those kinds of levels... and it would be difficult to consistently invest such high levels - though not impossible if someone already has a decent income and/or low expenses, but even if someone is living with their parents, they might not allow you to live rent-free for a long period of time, especialloy if they were to be able to figure out that you were investing $500 per week or more into bitcoin.


If you spend, 10 to 20 to 30 years investing into bitcoin, and if you start out with bitcoin as your only investment, surely in the first 5-10 years there may be periods in which you might feel that you are not making progress, but then at some point you might start to feel that you have enough BTC,. and even if you are not quite at the level in which you are going to want to start to cash out some of your BTC, you might at least start to choose to invest into other things so that you feel less overexposed to bitcoin.

And mostly HOLDing through a period in which BTC prices go way up and way down takes a bit of commitment to the idea that it is just better to mostly be HOLDing.  You likely have to have systems in place that allow you to do such a thing, and there are quite a few bitcoiners who are similar to me, and some of them were on this forum complaining that they did not sell more during the peak.. so sometimes there can be some regrets about missing such BIG trade opportunities, but even if you sell, you could end up selling too soon and then also not really know how to play it.. when to buy back and how to buy back, so it surely can be difficult to get anywhere close to the top in terms of selling and to get anywhere near the bottom in terms of using those proceeds to buy back.... so sometimes there can be more comfort in terms of not even trying to play those kinds of games with your BTC, unless you are just using a small portion of your BTC to do that, but at the same time, if you have not reached your accumulation target, it makes even less sense to be selling if you feel that you don't yet have enough BTC.


The whole matter of death is tricky.. because perhaps you would like to pass your BTC on to some heirs at the time of your death, but you do not want them to have access prior to your death. 

So if you have such a preference to pass on your bitcoin, then you have to make sure that you leave sufficiently clear instructions, and at the same time, if some of the instructions are not clear and if some of the details (about how to access your coins - and to show where they are at) might change, so you have to update your instructions.. but at the same time make sure no one can get your instructions prior to your death.. since maybe you might fear the wrong person finding your instructions if those are instructions are too clear, then the wrong person can get your coins, either before or after you die.

I doubt the solutions are even as clear as some folks would like to believe them to be, and sometimes people are not even clear about who they might want to have their coins.. it is not an obvious answer to everyone and the answer may well change over time, even if someone is able to answer one way at time one, they might have changes in their opinion, so they might be reluctant to even lock into their intentions, and presuming that they will have time to figure that out later.. which we know that there are quite a few times that death comes quickly rather than letting you know that it is on its way.. and even when it let's you know, there are some folks who are in denial about their death and/or demise all the way to the end.


Of course new cars are quite a depreciating asset, they are very expensive to have and maintain, but at the same time, they frequently can have quite a bit of utility value and just convenience.

No one can really tell anyone else about whether it is better to invest more and consume less or maybe to do the opposite, consume more and invest less, and sometimes we might not know the ramifications of our investment/consumption levels until much down the road, and there is quite a bit of value in having options down the road so that we might have the option to not have to work or to choose the kind of work that we do.

Time does fly by fast, and there are some folks who end up dying before they are able to enjoy their fortunes, so there are a lot of personal trade offs, yet one really powerful thing about bitcoin does seem that it has had some abilities to move quite a few people (mostly the accumulators and HODLers) into a higher financial status than they would have had ever been able to achieve through various traditional investment methods, so in that regard, there is a lot of power in that kind of transfer of wealth, and even though the upside potential of bitcoin is likely reduced, it still retains a very strong investment thesis..

whether anyone is young, middle aged or old, and yeah of course, frequently we talk about having at least a 4-10 year investment timeline or longer, so there sometimes can be questions regarding anyone who starts to get into their 60s in regards to if they might be able to continue to consider themselves as having at least a 4 year investment timeline, and that may well have to do with the level of their health and if they might have other sources of income in which they are able to draw that would mean that they could allow their investment in bitcoin to ride for at least 4 years but surely better to have longer time than 4 years, especially if anyone is DCA investing for 4-10 years or longer, then each time they buy more BTC, they would need to justify having at least a 4 year timeline from each new purchase in order to be long term investing rather than trading, gambling and/or playing the price waves that may or may not end up working out and usually not good for older people to be playing with their retirement funds like that.

Wow amazing, All those spendings you where still able to stash this much, just imagine you spent less. Damn  It would have been boom ( like you would have had alot of coins more than your recent). You are right at such age it would be tough call on what to spend or hold. But still with such stash , During the next bull run. Of  bitcoin hitting it new ATH reaching the price range of 100k+ You would definitely endup with massive profits. What you just said has just made me to see more beauty  of holding Bitcoin for long-term investment and has same time inspired me in my accumulating more.

Maybe but you need to enjoy it while you still have the ability to do that  
This is a bold one, really motivated me

I am older 67 so a 15 year plan has very little attraction to me.

I have earned maybe 250,000 usd since 2011 via mining and gear sales. Maybe 300,000

I spent as I earned because my other incomes were not high. So constant savings of coins did not become my goal.

If I had hodled more and spent less I would be better off.

But I also lived life got a new car every few years
 2015
 2018
 2020
 2021
went to nice restaurants.
and enjoyed time with my wife.

I have coin
I have gear
I am getting a new car in May


But if I had held the cars longer did less restaurants.

I would have more coins 🪙.

Its always a tough call when you are older on what to spend vs hold.

The younger you are hodl hodl hodl hodl is far more important .

If someone can use the suggestions given by you correctly then hopefully only 10 years is enough time for his life to change. But most people don't want to be a consistent investment here, they sell them when the bitcoin price goes up, they are far from long term planning. I agree with you that every success requires a long term plan that should be consistently worked out be it investment or income from elsewhere. But I've seen very few people do them and apply them in their lives.

Yeah it's true but  did you really went through my comment

Dude! that seem a little bit controversial, you could have use the word "no class" instead  but the point was made though.


Yeah you might quite disagree but you should understand  that those demised are also holders which will definitely  be holding forever so in one way they will still contribute  to the scarcity.

When a wallet seem dormant on Exch. Wal. what do you expect a free give out or lock out ...... and you should know that people don't make plans like that because of trust issue in human nature  until last  minutes , it good to make plans generally maybe behind their back  but exposing it to them sooner how are you sure they won't fuck it up early??and that why lost wallets kept on increasing  over the years.
Nothing  is easy but it's good to make plan though!

Basically, no one can accurately predict the price of bitcoin. Because Bitcoin is an investment asset/payment tool that is bought and sold by enthusiasts/investors. Therefore, the price of bitcoin cannot be predicted with 100% accuracy. Because basically everything is related to the psychology or habits of bitcoin investors themselves. So when we predict the price of Bitcoin, for example in the context of the habits of bitcoin investors. Examples like this

"Oh, usually after the halving cycle, the price of bitcoin always experiences a very high increase and sometimes bitcoin reaches a new ATH."

Or if predicted through the psychology of bitcoin investors. For example

"Wow, there is new news, reportedly Elon will buy a lot of bitcoin at the end of this year. So the price of bitcoin will definitely experience a big increase.”

So these two examples are an illustration of bitcoin predictions from the habits and psychology of bitcoin investors. But what I will conclude here, are these two examples always 100% correct or not? Personally, I don't think that's always true. Because if you refer to the first example when the bitcoin halving occurred, it is true that until now after that there has always been a very high increase in the price of bitcoin. But that is in the context of all bitcoin investors being in good financial condition. But what if the majority of bitcoin investors during the bitcoin halving experience financial problems, resulting in not many investing in bitcoin. If this happens, it is very likely that the price of bitcoin will not rise, but will actually fall.

Then if we refer to the second example, regarding the psychology of bitcoin investors who heard the news that Elon would buy large amounts of bitcoin. In this context it is even worse than the first context (habit). Because in a psychological context what is expected from bitcoin investors is individuals. So basically the possibility of this happening is not very big.

For this reason, the price of bitcoin cannot be predicted with certainty. And why DCA would be great to use in this situation.

He is actually right, you just have to think about it again. Not many people have made plans about their BTC as per how to hand them over to their loved ones or how they will be used when they are gone. Discussions of doing this have been ongoing in many forums I belong to where BTC is discussed but I do no see any generally accepted way of doing this, just different suggestions and theories, leaving everyone to chose what is best for them. As expected, each of the suggestion have their merits and demerits

If I asked you now what is your plans about your BTC when you will be gone, I doubt you will be able to give me an explicit answer, therein lies the problem, the reason I support the statement you are trying to refute. Another simple example is the case of Satoshi who we are not sure if he is alive or not and if he is not, it is not clear if he gave his keys to anyone. There could be several of such cases that are not revealed but that does not mean that it does not happen, people will continue to die and just like treasures that people hunt, BTC might just be lost because of their owners not giving their keys to anyone before they die.

I partially disagree with you that most of the bitcoins that would be out of circulation would be as a result of the demise of some holders of bitcoin. There are thousands of people holding bitcoin, and no one is foolish enough to think that he would not have any preparation for securing his bitcoin for his heirs to inherit. At least not in this era, so many solutions have been brought to harness this situation of losing funds after the death of someone. Many bitcoin wallets have been dormant but were later considered to be lost. Yet after ten years, we would see a transaction taking place in that wallet. How come? Maybe someone found out the lost or hidden key phrase.

In the future one main thing that will reduce circulation is mass adoption and holding long encouragement. Imagine if 25% of the global circulation buys bitcoin; there will not be enough to circulate if this set of people and the previous investors hold their coins for 10 years or more. There will be a very high demand for bitcoin but no one will accept to selK. This will cause to the increase in value.

That's a good journey from the investment you have made where price rises and falls are not an obstacle for you to hold BTC in the long term. For those of me who are still too early in long-term investment, I will apply each stage to continue buying Bitcoin. I will probably measure the average entry when I reach my target in long-term investment, maybe in the next 10 years. Indeed, at the moment I am a little lucky if I look at my initial period because I bought at a price below $20k when Bitcoin fell significantly in the previous year, which would have been a very beautiful moment for me. When my long-term journey is finished, maybe I will still win Bitcoin because Bitcoin will have quite fantastic value in the next 30 years. It doesn't seem impossible to say that Bitcoin has more promising returns for long-term investment.

The situation in our environment will have a strange impact when we suddenly have great wealth because the investment we make in Bitcoin will never be known by the people in the circle where we live. Well, as you said, of course it is true that many Bitcoins will disappear from circulation because their owners die. I imagine that in the next 30 years Bitcoin circulation will certainly become thinner due to many reasons. Even though that is my assumption, for now it is true that if they don't pass on the private key to their family then there is no way for their family to own their BTC.

True, I agree with your statement, with the DCA now everyone can be involved in bitcoin accumulation, whoever you are, especially for beginners who don't really know about the world of investment, this is no different from saving usually but maybe the difference is that you put money in bitcoin where there is an opportunity for your money to increase in terms of amount or value. But on the other hand, you still at least have to know about the possible risks that will be the basis of your caution and vigilance in carrying out the accumulation plan. As you said, they just have to divide the amount of money evenly and allocate it within a certain period of time according to what they think is the right time, whether it's once a week or once a month. But on the other hand my advice is that you should really make sure that you have a pretty good income and have never experienced any problems in terms of financing living needs, or simply put, you need to identify your finances, try to prioritize your living expenses first and after that is guaranteed then you can allocate some of your money to bitcoin accumulation according to the plan you have made.

Yes as I said above that DCA makes it easier for all people to get involved in bitcoin investment, the point is that if you have a fairly balanced income in your real life and have a remaining budget that is not too used then obviously you can allocate it to accumulation, and my last advice is to try to divide your budget in three places, namely for living needs, for bitcoin allocation and also for emergency funds, because emergency funds are very important for urgent things that we never know before. DCA does not look at how rich you are, certainly when you have some money left over from other needs (regardless of the amount) then you can get involved by applying consistency to the accumulation activity, there is no compulsion and this is only for those who really feel capable.

That's a nice plan. Every one have their goal of bitcoin accumulating, holding for 20 yrs would be indeed epic I think got to note that down, due to my age also I think I would also take it as an advantage to start accumulating more  Bitcoin to my portfolio. Though In that same 20 yrs I would keep holding maybe I would be scraping some profit because withdrawing all your investment after your early entering won't actually be a smart move. And at that time am pretty sure bitcoin would have experience a great and massive change in price or value.

Well I'm pretty sure  using good strategy like  (DCAing and the others)  to accumulate more bitcoin, as time goes on with frequent accumulating of Bitcoin you would definitely hit your accumulation goal, though might take time but with effective DCAing, buying the dip your portfolio would keep on increasing and getting mature. And one thing you would also need to get there, is an good sources of income to have a smooth accumulating and Holding of Bitcoin.

Sir I love your plan but I am not only holding for retirement, I'm quite young just under 20 and still earning not quite a lot, my plan is to hold for 20 years and get up to as much as 8 bitcoin in my stash, I know its quite small but as my income increases I'll increase my target, but why I see myself still beign on track, who knows the price bitcoin would be 20 years from now, 8 bitcoin could be a whole fortune, I'm still I  my early stages of accumulation by the way and right now my emergency funds and reserves are quite the priority, luck me I don't have much expense on me, my parents still take care of quite a lot, so I use this opportunity to give myself a future in bitcoin.

Thanks for giving us such a candid advice 😊nice having you here

Very quality advice from you, yes we need to hold our bitcoin for up to 15 years expecially if we are younger and the plan is to keep on buying bitcoin with DCA irrespective of our low capital at first untill we are able to have at least a good stash of bitcoin, we plan to use of first 4-5 years to keep on accumulating Bitcoin, at this time period we care less of profit, we are all about building our emergency funds and reserves and buying more bitcoin.

The goal is to have enough bitcoin and hold for long to add more compounding value effect on our holdings.


DCA is a very good method for a high volatile asset like bitcoin, and not only that DCA also is a good method for new investors that have little experience with bitcoin, all you have to do is just split you capital into equal parts and invest on intervals, its very stress free and it doesn't involve and technical or analytical skill to acquire bitcoin.

It has nothing to do with beign rich or poor, using DCA does not mean that you don't have huge capital to buy at once, many chose it cause its the best  approach to volatile assets, not every have the leverage of having huge capital so they have to use the DCA by allocating some percentage of their disposable cash either from expense or just extra cash to buy bitcoin.

If you are under 50. Buying btc monthly for 10 years and hodl it for 5 more.

Then at 65 it should help a lot for your retirement.

You cn have a 5x monthly dip buy.  Ie if you save 400 a month dca. and BTC does a 20% dip buy 2000 in btc.

you likely will save 120 x 400 usd with the dca and catch a few dip buys.

so maybe

120 x 400 =  48,000 usd in dca
 10 x 2000 = 20,000 usd in dip buys
grand total of 68,000 usd invested in a 10 year period then hodl 5 years this is a 15 year plan for people under 50

this is not advice.

Speculation is not what should give newbies confident to invest, rather they should first have the believe in bitcoin, so that they can invest in a long term with confidence. Speculations might be right or wrong, and what people say about bitcoin price should not be taken serious. Speculations on bitcoin price has mislead some people in the sense that, they start waiting for the dip to buy at a bottom price of their own target, and most times it ends up up playing out and the will miss out, still sitting on the fence believing that the price will certain come true due to what they hear.

Speculations can also give false hope to newbies, that will make them think that bitcoin is a get rich quick scheme, and they will use the money for an important aspect of their lives to buy bitcoin believing in what people told them or what they hear on T.V, and if bitcoin price did not play out that way as speculated, they will get disappointed, and sell of in loss. I am not saying that to speculate is bad, but we shouldn't put that in mind when investing, rather we should see bitcoin as a sound investment that will safe our money from inflation in the long run and also give us good profit in return as a benefit of hodli for long.