Topic: Buy the DIP, and HODL! - page 293. (Read 137067 times)

Come on mate, there are no amounts of researches that can be convincing enough to get involved in shitcoins, they are just there for distractions, Bitcoin has proven to be the best in all ramifications and there is no way we can make any form of comparisons or make it looks like Bitcoin irrespective of the level of researches and analysis. Don't forget that supply has a major role to play in the market, Bitcoin has a limited supply of only 21million,  Bitcoin stability and entrepreneurship are far better than any other coins or is it about it's network effects and security Bitcoin are far better than then all,  but however as JJG will always say that don't do more than 10% involvement in to shit coins as compared to the size of your Bitcoin investment which is a very nice advice at that. There is no degree of researches and analysis that will make shitcoins involvement any less risky as when compared with Bitcoin.

If you are transferring bitcoin from an exchange to a private wallet, then that is likely to contain both exchange fees and transaction fees.  Frequently exchanges have set fees, but they also might have options for how you can send your coins, too.  Some exchanges gouge more than others in terms of how much they charge - and sure part of the presumption is that they are paying transaction fees when the send to your private wallet.

When you send to yourself or you send to someone else from your private wallet, then some of the private wallets have more features than others in terms of coin control or being able to manually adjust fees.

Regarding how much value to leave on exchanges, each of us has to decide in terms of how frequently we are using the exchange to either buy or sell and also how large or small that we might be willing to have our UTXOs that we have on our private wallet.  In recent times, due to quite a few of our onchain fees that were not coming down, I had frequently suggested $500 to $1,000, when we have choices, so maybe that could be in the ballpark of 500k or more satoshis, and of course, if we transact with someone privately, we may well end up with a lot of BTC transactions and even change that ends up in our UTXO that end up being quite a bit smaller than our preference, and maybe some of our UTXOs might start to seem unspendable or very expensive to spend if we do not attempt to manage our UTXOs so that we do not end up with a whole bunch of small UTXOs at a time that we might feel that we need to use them, but the the onchain fees are high.


Yep.. there are degrees of responsibility within poor people and also in regards to rich people too.

So some are gong to be more responsible with their money, and surely it is harder to build wealth rather than to maintain wealth, but each of them takes skills, so surely any poor people who are in the process of trying to make their situation better are more likely in the process of building the wealth and not so much in maintaining, even though maintaining is a given because it would seem that anyone trying to make progress should be striving to engage in strategies that do not put their building at risk so that they end up going backwards rather than forward... but even something like bitcoin, sometimes it might appear that a person is going backwards or not gaining any ground, even if his bitcoin is growing, but for some periods of time, it might be lessening in value, but the person who knows about what he is investing into will not get shaken by those kinds of short term assessment.

The rich guy might not feel any need to grow his wealth, yet he might be  still trying to maintain his wealth and/or to deplete his wealth at a sustainable rate.. . and surely there are some guys who might not know what they are doing and they are just depleting their wealth and not even trying to maintain it.. in part due to their incompetencies.  Guys who have built their wealth are more likely to know what they are doing, but even luck might be perceived as knowledge because sometims there might be luck involved rather than knowledge.

How do you even do a thorough analysis on some of this shitcoins that are very unpredictable, what kind of methodological research or analysis would you want to take in to cognizance to ascertain the certainty of  some of this shitcoins. Because left alone with me they are not worth investing in, not to even talk of wanting to have the idea of having a long-term investment plan. Most people's have learnt the hard way after investing a lot of into shitcoins with the assurance that it's a project that is worth investing in.  

And maybe because there are some shitcoins that are tempting, but if you don't do a thorough analysis and don't do it well and don't follow it from the start it will be in vain and very risky.
There is nothing better than Bitcoin for long-term investment and this has been proven other than shitcoins which do not have strong evidence, other than Bitcoin.
And I think this DCA method is good and easy for beginners and also good for those who don't have the ability to buy Bitcoin in large quantities. Because we can buy according to our abilities periodically without forcing circumstances that do not support buying in large quantities, and do it for the long term and Bitcoin will definitely provide good returns for us.

The mindset you're talking about includes having confidence, trust and being discipline to know that long-term view of the market is one of the best approach in the Bitcoin market. The truth is some won't learn, there brain have already been filled  and wired to believe the market is all about profit which is one of the limiting factor that differentiate those who become Rich and those who become Wealthy in the market.

The major problem is lack of discipline and patience, which can't be overstretched,  that's why we see some neglect the idea of building a solid portfolio over gambling of Bitcoin. The truth remains everyone would  benefit and enjoy the dividend of there actions which is certain.
The fun fact is that everyone know the promising future of bitcoin, of which we have seem proven reasons to keep investing in it for generational wealth yet some still gamble, Bitcoin is one of the most valuable asset one can have now, don't let temporal gain blindfold your eyes for what is to come because some will keep regretting all the days because they gave room for satisfaction at an early stage, we learn from history and would be awkward if some members in this forum don't have any results to show for in the nearest future after all this exposure.

The only method that can be achieved is only through YOU, by setting and sticking to your long term plan regardless knowing you are present for business not just gains.

  we should not be too greedy to put all our money's to work just in the name of wanting a massive return in our investment. That we should set Aside some money for emergency funds, which purpose is to coverup some expenses, they may come expectedly or unexpectedly. So that we won't endup dipping our hands into our investment, when we haven't gotten far or hit our accumulation goal. We should have to focus on our accumulating and same time having some cash fir emergency funds in order have some smooth investment ( Bitcoin holding).
not just stress but also get themselves reckt. Bitcoin as kept on proven itself in the past years, to be a worthy to be one of the best investment ( if not the best). Alot of folks that are In this space and don't actually have some Bitcoin stash in their portfolio but instead waste most of their money or percentage in some useless shitcoins are not doing theirselves any good, because you are only putting your funds at big risk when investing on shitcoins . Though Bitcoin also has it risks expecially for those that are only in for short-terms profits, but one focusing on Bitcoin as an longer-term investor with some proper planning as already favoured himself in reducing or minimising the risk in investing in bitcoin.

Yeah I think both the emergency funds and our bitcoin investment compliments each other, our emergency funds helps keep our investment safe and ensure we won't be dipping our hands into it, while our bitcoin investment compliments for the cash that would be sitting idea and not generating any income for us and even losing Value, so as long as we continue to invest and keep on buying bitcoin we don't have to worry much about the cash sitting idle cause if our portfolio does well, we would be getting rich.

Your right anyone that's decides to be too stingy or greedy and doesn't want to build up his emergency funds or reserves to well be able to meet up with his bitcoin investment and later encounters an issue, maybe after 4 years of buying woudl also face the fate of someone that has no emergency funds, cause I believe as we get richer we should also assume that challenges may or may not get thougher but we must always are sure our emergency funds woudl be able to counter any issue that may arise.


This clarifies thigns even more, so we should assign or spend money from our reserves based on priorities of those events, like lests say a young guy that hasn't rented an apartment and is also buying bitcoin and has some extra cash that came in and so after doing all the maths and budgets he is left with up to 1k in his reserves and he had prior plans to buy on a certain dip but as the current situation may be, he is in a more pressing need to rent an apartment than to buy bitcoin, so he should rather reconsider and rent the house then any extra can go for buying the dip.

What I understand from this is that we should make our plans based on necessity of events and our decision shoudl not be too greedy and make us forget that we have other thigns to do and get too carried away with investing in bitcoin, so yeah we can have a life, go on vacations and have a balance in all that we do. Then it would be said that we should invest money that we won't miss, so if investing or buying bitcoin at a time would cost me some of my necessities like paying a bill, it's not worth it and could later lead to me wearing myself.

So in general I shoudl have balance in everything I'm doing and make sure I'm allocating wisely to spending and also buying bitcoin.



I think that the longer that anyone invests, the more and more comfort that he should have about having had built various systems to protect his investment, but surely one of the problems becomes that sometimes people will start to unnecessarily take extra risks with some of their investment and not protecting themselves as much as they should, and surely there can be points in which your holdings are more vulnerable than others, yet sometimes we cannot always know while we are in the middle of the process, and we can ONLY do as much as we are able to do, in terms of making our own best and solid practices to make sure that we are sufficiently protecting our portfolios and perhaps being aggressive without over doing it.. . and sometimes normies (normal people)_ do not always realize when they are either overdoing it or they are too far on the whimpy side or too far on the aggressive side...
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Your right about this a line should be drawn in everything especially knowing when we are messing up and when to correct ourselves, although it's not very easy to know when you are on the wrong and at time we do the wrong thigns thinking we are right and find it hard to take correction, so most people never learn or notice untill it's too late, yeah we must do a lot of reassessment from time to time to make sure we are still on the right part.

@teamsherry kudos for bringing this topic up, really has made Jay to touch some old misconception.

at this point it's not even right to make any comparison between Bitcoin and any shitcoin or altcoin, it's glairing that Bitcoin is on a world of it own and while I won't wish those investing in altcoin a bad journey, it's quiet inappropriate to comparing the level of confidence you have if you're holding your Bitcoin for a long period of time to what's obtainable to investing and holding on to an high performing altcoin like ethirium, matic or BNB. I mean, it will take 200 times of positive upward movement for each of these altcoins before they will ever get close to the current $66k value of Bitcoin and it's not just something that's not debatable or worth making any comparison. Bitcoin stands as the most reliable long termed decentralized currency that's worth investing into.

One of the reasons why we have so many altcoins and shit project coming up at a very fast rate is basically because they want to hide under the wins of Bitcoin and convince users that bitcoin is same as any other cryptocurrency and would normally want to paint a positive narrative regarding the possibility of thier project performing as high as Bitcoin and it's just an easily way to fool valnourable once to believing that bitcon is same as any form of crypto out Thier.

We see a lot of shitcoins price drop so bad and many investors got wrecked for their belief that there's some of them will go the same with bitcoin since this is what usually promised by its creator by turn out to be a scam just as expected. So if they want to earn this much better if they could just avoid investing on shitcoin for long term since they are just wasting their time and money with that.

They should go directly on bitcoin since for so many times we always see that there's always good happen from people who believe on it and hodl for long time. And we see a lot of good things happen from it especially for its adoption so there's no question that there's a lot of growth for bitcoin to happen in future so its really better for people to directly invest with bitcoin if they want to have better investments since shitcoins will just give them stress.

Investing in shitcoins long term is foolish, never make that mistake Bitcoin is trustworthy as far as possible If you invest $100 $100 you invest in Bitcoin. Then you can benefit the most, because long-term investment in bitcoins will certainly reap benefits. And if you can't then start saving bitcoins in DCA method. Of course you invest in bitcoins success is sure to come but you have to be patient.

No investment is not risky, but when you understand follow the right step of investing, you will be able to lower the risk in it. Just like bitcoin investment, if you know the basics and work with it when investing, the risk will be limited. Bitcoin investment is for a long term like 4-10years  and above for you to be able to minimize the risk attached to it. Another risk is when you don't have an emergency funds, and you say that you are investing in bitcoin, it means that you will end up selling your bitcoin at a cheaper price, and run at loss when an emergency arise. Another risk is when you are selling your bitcoin and thinking to buy back in order to double your bitcoin, thinking it is a good strategy to use in increasing your bitcoin. Lastly, is when you think that bitcoin investment is a get rich quick scheme and you invest with the money for important needs.

Any investor that can use 10% of his income to invest on bitcoin using DCA by buying weekly or monthly consistently and have all the necessary funds needed that will make him not touch his bitcoin investment during his accumulation phase and hodli for long, will be happy for the sacrifice he took when he has accumulated enough Bitcoin. Personally, I think discipline, and patience are the big problem that most people are having that cannot invest and hodli for a long period of time

Your very right about this, lack of having enough resource can be a major issue for poor people so they have to be more careful, cause a big mistake can really mess them up and very few persons would have the will to stand up from such situations, from your explanation I think it's best a person without enough resources should focus more on having one asset built up and keeping at least an emergency funds that is 3 months of his expense to ensure he never dips his hands in his holdings.

In think there is actually a clear margin between the resources each person have and how wimpy or careless they can be, for a rich person that has many other well built investment, having to keep all or most value in assets or investments wont even be much of a problem to them and at times taking loans from banks in such situations with any of their asset is a far safe option for them or they could easily liquidate any of their lesser asset for such purposes, but for a poor person that has no much investment, he has far lesser
Options to pick from and must stick to having emergency funds in cash, he needs to have cash around cause he has to have more risk consciousness than the rich guy who has more resources and options than him.



Getting too greedy could well be the end of everything and this applies to both rich and poor, at times having the safety of a cushion is a good insurance for us, poor people mostly have tendencies to be more impatient and want to allocate all their cash to bitcoin and forget that each sides has its purpose, while the emergency funds might not be generating any extra cash or is just sitting around its good we build it up.

Yeah as our portfolio grows we tend to feel less comfortable with the amount we used to have in our emergency funds, so we have to also account for making sure that it is big enough to still be a cushion if thigns go wrong, from your explanation it seems that as we tend to get richer and more balanced it's good to increase our emergency funds.

Yes, that's basically factual because, there's no diversification in income streams to be able to fund the establishment of investments. Emergency funds as it were shouldn't be on assets form as they could suffer value fluctuation,and sometimes won't be the actual value you've set for emergency, and you cannot even predict the scale of the emergency.
Well, most extra (unnecessary)risks that people take in their investments, like you said earlier I'm previous posts, is having a lot more than 10% holdings in shitcoins, and is obviously a waste of percentage that could be put in Bitcoin investment.

Bitcoin may not be so risky like people think of it to be, these has delayed many people who are to invest in Bitcoin. Bitcoin investment would require a bit of strategic knowledge, anyone who invest without even a little knowledge about Bitcoin and its risk management is likely to be under the pressure when the price DIP, seeing his/her investment drop in dollar value, they assume being at loss where as it is the most common attribute of Bitcoin, experiencing volatility. Another factor at which people tend to see Bitcoin as being risky is when they purchase massively at the top of the market, not understanding how the cycle works and seeing the DIP part of the cycle they begin to question if literally it was a good idea to invest in Bitcoin, these has brought the advantages of strategically applying the DCA approach rather than lump buy, likely they have to purchase at regular intervals whereas it falls into a cycle of purchasing a DIP, so the thought of being at loss is ruined and even the investor would be delighted to keep on investing.

These has been talked about already, holding emergency funds as an asset, be it Bitcoin or any other than cash is not to be considered appropriate as an investor who understands the market and how volatile it can be just within a short period of time, where as the funds can be urgently needed and it has dipped very low to a point where selling wouldn't be an option then it becomes a problem which may like affect our investment. Emergency funds are to be held as per countries Fiat and nothing more.

Jay you are right on your definition of emergency funds management between the rich and the poor because we all know that a poor man is always anxious of his investments and due to the fact that they don't have much to take care of their daily needs, most of them don't choose long term investment because they cannot be patient enough to allow their investments to grow to a certain level due to fear and no regular source of income to always fund their investments and since they don't have much money coming in, having an emergency funds becomes necessary as that is what is only going to keep a poor investor who is determined to make long term investment because if they want to have chances of getting out of poverty then certain risk and decisions must be taken for there to be a positive change in them.

Though the rich are reckless about their investments due to the fact that they owned a lot of assets therefore they feel that anytime their investments is not having a head way they can easily sell an asset and awaken their investments but some other rich people who knows the usefulness of owing an asset doesn't become so reckless to the extent of selling them back because an asset that is sold may not be able to be recovered again except maybe you sold it and ventured into an investment that will yield fruit within the short interval so as to replace the sold asset and still have some good amount of money with you.

Whether rich or poor whomsoever wants to meet up with their investments goals need to have this emergency funds so as not to bridge your investment along the line when your it is not yet ripe. Things we don't plan in life are meant to occur but having an alternative to settle some daily requirements and unforeseen circumstances in the future is necessary.

Most at times poor people have limited resources and if they end up putting too much than they ought to in bitcoin without keeping their emergency funds, they could end up wreaking themselves, keeping emergency funds in other asset would not be a good decision if we are not well established at least in having enough resources or if we don't have other asset that we feel we can liquidate if an emergency comes up and how quickly we can get that cash to solve those problems when we need them. So I understand why you said that poor people should have their investment in both bitcoin and cash for now so that they can focus on growing their bitcoin investment first an it makes them rich and also having aeons to insure that they won't sell it off so soon.

A rich person can equally afford to start investing in two asset at once and it won't be a problem to him cause he is well able to in resources and it won't be a problem for him to build an emergency funds that would be able to cater for both assets, but when someone has limited resources it is most logical to live within that means an besides if you can find ways to limit your expense we can have a lot of extra cash that we could use to invest in bitcoin without having to dip from our emergency funds, so I think it's better we actually find some ways to increase our sources of income and have more resources available to use than to use our financial cushioin to invest and remove our insurance.

You know as much as strategy gives us an edge, having a good psychology is also better and would carry us a long way in our investment, how would someone have a mind set that buying low and selling high is the best strategy to approach bitcoin with just because he feels he would make quick profits from it and disregard a long term holding that is a more after and better option, having a good mindset is also as good as using the best strategy and knowing how to do all the calculations, cause if you don't have a good mindset, you would find yourself often gambling than investing.

One of the most common area that even bitcoiners have a poor psychology is that they fail to understand the worth of bitcoin itself as an asset and for that reason they also fail to be able to want to hold bitcoin for long, to them bitcoin is just  merely for profit making and that's why they may never get rich, cause how can you get rich when you don't have any bitcoin and end up selling evertime you make a little profit and the flaw to this strategy is that,

1. They would never have any bitcoin: after so many years of buying and selling, when they look at their portfolio there is no prove that they had actually bought Bitcoin at any time, and that is because they have been busy selling everything.

2.They would most likely remain poor : if you know about the compounding effect of bitcoin, then you would know that bitcoin favours long term holders more, and the more bitcoin you accumulate and the longer you keep, the more compounding value effect that would happen on your portfolio.

3. They would have more failures than success : while this might not be a general reality for many but one thign we know is that trying to time the market is not a very good thign cause you might be anticipating for the price to come to a particular level and it woudl never reach their, so you end up not buying and missing out and you have to wait till another dip which might not also come.

Another area that most bitcoiners fail to do is constantly reassessment of old strategies to see where there are doing it wrong, at times we might think that we are doing everything right, without knowing that we are on the wrong side, and that's why it is good to keep a journal or a record of all that you have been doing concerning your investment in bitcoin so you could easily spot out those mistakes and correct yourself, I personally use Google spreadsheet for now to save details on how much I've invested, detes and time an Di also keep a journal on what I'm doing, so I can easily find out where I'm faulty in my ways.

In conclusion been in bitcoin does not guarantee success, only doing the right thing and having a good mindset can guarantee such, yeah everything has its risk and we are investing with monet we won't miss, so potentially or if they is a possibility that bitcoin won't pay off we have to worry much about that.



Thanks for the correction, I must have been misplacing words, when I first started DCA I was hooked up with self custody thign, so when ever I bough bitcoin I would have to transfer it to my wallet for storage, but that was eating me up cause I had to account an extra dollar to my buying to cover up the exchange fees( thanks for the correction, I actually though the fee was from bitcoin), but now I'm all good on that, I just accumulate and keep on the exchange and when I've had enough bitcoin like up to 500$ then I move it to my wallet, so I'll have lesser fees to pay( this is not composary to leave up to 500$, there are risk involved with trusting exchange, so apply with your risk tolerance and don't keep too much on exchange wallets).

It seems that the more poor you are (and the fewer the investments that you have), the more important it is to both establish an emergency fund and also to maintain that emergency fund in cash rather than in any other assets.. especially the first at least 3 months of your living expenses.  The thing with richer folks is that they may well have several options, and sure there are a certain amount of rich folks who are not very liquid (meaning that they are not keeping very much of their wealth in cash), but richer folks are still more likely to have options between which asset to sell, so in that regard, they can choose what they believe to be the asset that they value the least, but they also might get stuck with having to sell an asset that is the most liquid to deal with their emergency.. and so I am not going to presume that rich people don't end up fucking up BIG time, but they do tend to have more resources available, and so a person who is not as rich will tend to have to be way more careful not to end up either recking himself or overly ending up; having to dip into their investment because of their failures to properly have enough reserves, and a lot of poor people never end up making hardly any progress in their getting themselves out of holes because they either fail to keep enough emergency funds and reserves (because they are getting too greedy trying to make sure all their capital is "working," and another major kind of mistake that they make will be to either not let their winners ride or to be dipping into their investment way too soon and not letting their investments compound... and surely either of those kinds of BIG mistakes can be made better through better use of emergency funds, and also maintaining and managing reserves and cashfloats.


Sometimes we might get too greedy because we want all of our money to be working, and in something like bitcoin, it may well not be really very necessary - even though of course, there are no guarantees - but the essence is to want to stay invested, and if you end up getting very great returns on your bitcoin, then it might not matter  that you had 3 months to 9 months of your expenses continually available in cash and not working for you for 15-20 years or more.

There is something that is empowering about having the extra cash just being available, even though it is likely not only failing to earn interest but it is also likely half of its earlier value after 6-10 years.. and maybe also you are constantly having to add to your emergency fund because the first 5 years, you had kept $1k per month (so between $3k to $6k in your various emergency funds, reserves and float), but the next 5 years, you were no longer feeling comfortable with that amount, so you started to feel that you had to put $2k per month.. so $6k to $12k in the second 5 years.


You likely should feel reassured because maybe after 5-10 years investing, you end up getting up to 1-2 years of your income/expenses invested into bitcoin, and so maybe you would not feel as bad to be having all of that unworking capital just sitting around.

Another thing will be that if you try to be too whimpy on your emergency funds and reserves and you realize that the first 5 years, you always were able to get away with $3k to $6k in those funds.. ..  .. but then if the reality of the matter, is that your expenses and various complications in your finances have gone up, and you would be more justified to double your emergency funds and reserves, yet you choose to keep them the same as they had been previously, then no one is going to feel sorry for you, if you end up getting recked because you were being too stingy with your emergency funds/reserves, and you would ONLY have yourself to blame for your own failure/refusal to sufficiently assess your circumstances while your circumstances are likely to be changing from time to time and in need of adjustments that account for such changed circumstances.


Even guys who have pretty straight forward cashflow and pretty straightforward expenses, they are still likely are going to have some variance in their cashflow and/or what their reserve levels might reach.. so for sure the emergency funds would likely be the least flexible in terms of your never wanting to use them yet they still might have to grow from time to time to account for what is at minimum of 3 months worth of expenses... and  so there would likely be times in which you have a certain amount of emergency funds, a certain amount of reserves a certain amount of float, but also a certain amount that is just extra beyond those categories, so you will want to decide are you going to put that in to bitcoin or into something else... you have more options the more funds that you have, but of course, your own situation should be dictating to you where to put your funds.

Let's say that the guy has already been buying around 10% to 15% of his income in BTC for the past 5 years, and so he has invested close to 3/4 of year of his salary into bitcoin, but bitcoin has performed to such a level that it is about 1.5x his annual income,  He has emergency funds that are about 3 months of his income and various classifications of reserves that are around 4-5 months of his income, so some of his reserves are already assigned for buying BTC on dips and other parts of his reserves is his entertainment fund and another part of his reserves is dedicated to his transportation costs and another part of his reserves have been to save up to buy his daughter a bicycle and another part of his reserves is saving up for a vacation, and another part of his reserves is to pay for the construction of a storage shed, and so if he has extra money coming in then he can figure out if he wants to buy BTC with it or maybe he thinks that he should use some of that extra money to invest into something else...  My point is that the guy's circumstances and priorities should be helping to guide the extent to which his extra money goes into bitcoin or into something else, and if you notice, there can be certain parts of the guy's reserves that have higher priorities than others, and he sometimes, might have to dip from one portion of his reserves and to put it into something else, and he would spend from his reserves before he spent from his emergency fund, since no matter what he does not want his emergency fund to go any lower than 3 months (unless he really had an emergency and he had already spent from his reserves prior to dipping into his emergency fund).

No one is going to tell you if you have enough or too much, even though some practices might be more risky, and maybe you have a list of things that you want, but you only save up for them one item at a time, but you could still end up building up part of your reserves and then at some point redesigning it to something else, and maybe the part of your reserves that are dedicated towards buying BTC on dips have the highest priority, but if your wife does not get the vacation that you told her that you were going to pay for then, you might have to reconsider you priorities.


I think that the longer that anyone invests, the more and more comfort that he should have about having had built various systems to protect his investment, but surely one of the problems becomes that sometimes people will start to unnecessarily take extra risks with some of their investment and not protecting themselves as much as they should, and surely there can be points in which your holdings are more vulnerable than others, yet sometimes we cannot always know while we are in the middle of the process, and we can ONLY do as much as we are able to do, in terms of making our own best and solid practices to make sure that we are sufficiently protecting our portfolios and perhaps being aggressive without over doing it.. . and sometimes normies (normal people)_ do not always realize when they are either overdoing it or they are too far on the whimpy side or too far on the aggressive side...


Bitcoin does not have "gas fees"

That is a shitcoin way of describing matters.  

If you are talking about bitcoin, then you might be referring to transaction fees or even exchange fees, perhaps?

I don't think there is any need to argue any further, and @dailyscript everyone is allowed to share his/her opinion, so it's bad saying it's pointless just because he disagrees with your point.

Going straight to the point, it's better for newbies or beginners to start with centralized exchanges cause its more friendly for beginners than decentralized exchanges, it also has lesser to no gas fees attached to buying bitcoin off the exchange and this is good cause most beginners Don have huge capital and can be starting with as little as 10$, so imagine how discouraging it would be for them to be paying for gas everything they have to move their asset to their decentralized wallets, so yeah it's better they state with centralized exchange then when they have accumulated much bitcoin they can now move to a self custodian wallet to store their bitcoin.

We manage our money and we know the risk under which we are exposing ourselves, but we have to see things from the correct point of view, there are no risks in bitcoin, only if you are going to make a quick investment but that does not make sense, if you buy bitcoin is long-term to make the investment as it is, if I buy today, my investment should be to seek benefits in about 3 or 4 years, but since we are so close to the halving it is a gift that we buy now because it may be that It will rise a lot, in 2024 or 2025, but that will rise, there is no doubt about that, so for me right now it is below $73k? It's a dip for me, is bitcoin going down? It is a dip for me, if it goes down more it is another dip for me, you have to buy in stages to then see the benefits.