Topic: Buy the DIP, and HODL! - page 297. (Read 123769 times)

Hmm, that's true, mate. I've also seen some people lose all of their Bitcoin investments due to a lack of privacy. I believe that if someone wants to go for a bitcoin investment, first of all he needs to put more emphasis on it that how to secure his bitcoin, like where to buy it or where to store it. 
 
I mean, the first and most important thing a buddy should know before going to invest in Bitcoin is security, which includes being aware of scammer traps and fraudulent exchanges, as well as using a more secure wallet for storage. after that, there will be no difficulty in investing in Bitcoin. If someone doesn't know how to protect himself, be it from a hacker, from a thief exchange like FTX, then, in my opinion, a Bitcoin investment can cause a loss for him. So be aware of phishing links; don't click on any links that lack of authenticity.

Yes, of course there are many obstacles to achieving success in the investments we make. but every mistake is of course in our hands and also a decision is of course also in our hands. I mean, if we are determined to achieve success like those who have become millionaires before, of course there is only one option, namely never selling your BTC holdings. Many mistakes are made by old investors because they are satisfied with short-term profits so that they do not have the opportunity to find a cheaper price like the price of the first purchase they made.

Success is not only triggered by planning but we must have confidence in what we do. Investing in bitcoin is an investment that is quite popular at the moment, so for that we need to strengthen ourselves to fight the lust for near-term profits. Apart from that, we can learn from the seniors here, like JJG, who has gone through many obstacles to become a great holder, aka able to withstand it in the long term. lots of very useful advice for us beginners, therefore we can learn while investing in Bitcoin.

Let us not be distracted towards diagram, because it's obvious and understanding that diagram tender as a illustration to hold is a clear examples of holding, I think that it's not proper or standard way of teaching someone how to hold bitcoin or any crypto investment, in normal circumstances, its clear that bitcoin holding has effect neither you profit or you loss, so what I'm saying in nutshell is that Bitcoin investment is good and it will give you benefit when you understand the concept, the concept is when you know when to hold and when to accumulate your bitcoin.

Holding alway be good when you buy when the price of bitcoin is low, like example people who hold bitcoin during the time the price of bitcoin were low and still hold until now, those people is people who will make profit for their hold they hold bitcoin, so for my understanding we don't need to think otherwise concerning Holding, just say the money you want to use and buy bitcoin and hold for long term as abandoned money until the price of bitcoin enters bullrun

From what I gave understand about hodling, I don't think that it is as hard as the illustration on this diagram. I will say that number 1 simply implies to hodli, while number two simply implies to those who think that they can use trading to doubling their bitcoin. The reason why I said hodling is not that difficult as the diagram made it to look like is because anyone who already have an income and is used to saving a certain percentage in the bank for long term base on intend using it for a project, or for financial security will be able to invest in bitcoin with ease with that money that he is saving. He will just continue using the money to buy bitcoin in the long run consistently. Because for you to be able to save for a long term got a project. That was what I use to do then that I have not known about bitcoin, I do save 10% of my income in the bank, but since I knew about bitcoin, I buy bitcoin with my savings using DCA, and I find it easy.

Another point that make me to refer to number two of that diagram that it is making hodli to look more difficult than it is, is that the rich people who have invested in bitcoin, sees hodli very easy because they already have everything in their possession like cash and have so many advantage that they can buy their bitcoin as hodli for a long as they want. Let's take example of MicroStrategy, hodli is bitcoin is very easy for him because he has other means of getting funds, without thinking of his bitcoin investment,

It is the poor ones who is new in bitcoin and don't have the basic knowledge of bitcoin, that it should be a long term investment, and that they should have the available resources needed for them not to go and sell their bitcoin during their bitcoin journey that will see hodling as a very difficult task. If a newbie is good at financial management, and he use 10% of his income to buy bitcoin, and he has his emergency funds and reserve funds, if he believes in bitcoin, and he consistently, and persistently buy bitcoin regularly with DCA method, he will be able to hodli with patience since he knows that bitcoin is worth hodli. Our mindset should always be a long term investment so that we can map out ways that will make our bitcoin invest to increase and also hodli for long, The experience hodlers, sees hodling as fun and a daily practice for years.

This picture clearly show that before someone makes a good profit from his or her bitcoin investment, the person might have passed through so many huddles, which will requires lots of patience and dedication. The first picture show how newbies think when they see successful bitcoin investors. They fail to see the challenges that first comes with it. That is why it's good for people to have little or basic knowledge about bitcoin before investing in it. I would suggest that when anyone ask you about bitcoin investment, send them this picture, so that they will have a mental picture of what they will see in bitcoin investment. This will make them understand that the journey is not a smooth ride. But any investor who conquers the challenges and obstacles on the way is certain of winning the flag.

Your right in a way, but I don't think you have to make the journey of holders seem so difficult, to me I think all we really need is self control and for us to have cash reservations and a well built emergency fund if we really want to survive the hold, nothing is easy to achieve in life and gone are the days when bitcoin was cheap and cost less to buy and we can't blame ourselves for starting now, if anyone wants to really accumulate bitcoin he must have a plan and that plan involves increasing your source of income or capital, building cash reservations and emergency funds I guess if an investor has all this in place along side a good reason and purpose to hold then he is good to go.

the ride to success is never an easy one,  samething goes with holding bitcoin, because bitcoin investment can change ones life for the better but to get to that point is never an easy one. Base on the second pics which shows that holding bitcoin you gonna pass through some certain  challenges mostly when you don't have a proper idea on how bitcoin holding or investment works. Those who are new in investing in bitcoin always have that first picture as a mindset. Well come to think of it if you have a proper knowledge and understanding about holding bitcoin and also with a good fixed principles towards your holding. It may endup being a smooth one though  you would pass through alot of emotional testing. But when you hold and trust in your investment (bitcoin) they won't be a issue, all you just got to do is focus in your accumulation. And keep learning how investing on bitcoin works when holding some good quantities in your portfolio.

The illustration above makes perfect sense. When they say the price of bitcoin could drop and return to $1000k, we should tell them why. Anyone can share their analysis, but not everyone can tell you why. Moreover, current market conditions are very different from last year. Currently investors are very happy to see the price of BTC and those who have prepared themselves after the big correction that occurred with the DCA investment model can also smile happily of course. Slowly but surely.

I agree with this, the first pictures shows how people thinks holding to be very smooth and easy going why the second picture implies holding in a rigorous way, is a clearer diagram expressing that there is much to be done aside from purchasing your Bitcoin that will enhance your level of holding in other to achieve your goal, good investment management skills, conducting research and making corrections when necessary, the second diagram shows it clearly that holding comes with challenges which every idea investor should be aware of to enable them navigate to  their final destination. Understanding the reasons for your holding will definitely make you hodl stronger than you even planned.

This illustration is understandable and looking at the illustration it shows holding is not as easy as most people think, I came across a comment in bitcoin discussion and a higher rank member stated during his early stage he sold his bitcoin due to fear and others factors, fear of missing out can also ruin an investor journey or excitement to sell sometimes can also lead to bad investment journey.
If an individual is ready to invest he/she must first understand how this investment works, for example bitcoin investment has basic strategy and step to follow when investing and the common one is called the DCA strategy, a lot of people prefer using this method rather than buying in bulk at ones and it's mostly advisable for newbies who are new to the investment. Secondly having a target for long term holding is another important move, like set yourself ready to hold for long regardless the price, after this step you can look forward to learning about bitcoin and increasing the amount  graudually to build your investment. Lastly always secure your investment, I think this has to be the basic problem people face with holding bitcoin with lack of security.

I agree with you on this, we have no business diversifying for now and many of us couldn't even afford to buy up to 4 bitcoins at once to think of diversifying, we are not talking against diversifying but it shouldn't be for early investors like us that still have a long way to go, but if you have the funds and you dont want to feel over allocated then its fine, but for me I'll prefer to build myself up in terms of cash and bitcoin before I think of diversifying my portfolio.


IMO to diversify in alt coins is just like gambling with your money, and most of all they they depend on bitcoin for their value, what's the need to drink from a well, when you could go to the ocean, I can't put my money in any altcoin, investing in bitcoin is okay for me and It would yeild greater result and is more safe than investing in Altcoins, besides the alcoin market is filled with scam projects and shit coins with no rela world utility, and they are not even solving any problem, some even have poor management or evil schemes surrounding them.

Yes I understand your point, people who are trying to climb up the ladder when it comes to investments shouldn't be more concerned about diversification, when it is obvious that our funds are not even enough to buy us complete 2 or 3 bitcoins. Plebs has no business with diversification as we might run into trouble trying to do that. Diversification should be for people like Elon Musk and likes of them who have lots of billion dollars. Plebs should stick to the golden opportunity that bitcoin has given to all of us and hodl it as the only way to climb up the ladder. Yes it won't be over night but if we act according to the name of the thread buy and Hodl we have a chance.

This is indeed a good visualization about how holding experience will gonna be like and its not really easy as they think since we need to deal with emotional stress brought up by series of pump and dump happening in the market. There are heavy fuds that we can encounter that can change our decisions and this is big trials that needed to pass so that we became successful. I know at start its really hard to control our emotion especially if there's a lot of people posting some negative statements regarding on the news that's why it somehow affect our decision to hold and dump because we don't want to suffer from heavy consequence that brought up by corrections.

But once they experience all of it and they encounter those bull runs and bearish market scenarios for sure they can eliminate the fear then also will just think about that this is just part of the challenge and they can hold their emotion since they have goal set that need to follow.

There is nothing wrong with using some of the profit you are getting from your business to invest in bitcoin. But I don't support someone buying bitcoin at a low price and selling it at a high price for short-term profit because it is like someone who is gambling, and you might end up not accumulating bitcoin if the price doesn't reduce to the point where you want to buy it back. Before you invest in bitcoin, know that bitcoin investment is a long-term investment, like a minimum of 4 years before you can get a good profit that can change your life. I will advise you to accumulate bitcoin with the DCA strategy and hold it for the long term. Before you do that, make sure you have emergency funds that you will use to solve your financial problems so that you will be consistent in accumulating your bitcoin.

I partially agree with you, but holding will be very challenging if you don't knows what it takes and what measures for you to put in place for you to hold effectively, but if you are aware that you just need a source of income and an emergency fund that will keeps you going so that you wouldn't have to fall back to your investment when encountering financial troubles, so if that two things are already in place, it will be much easier for you to consolidate to your holdings without troubles.

The reason for diversification of investment is not because we need money for daily needs and expenses. Maybe you are mistaken all the points he said. Before you start investment it is important you should be certain that   there is a source which can provide your daily needs and emergency funds. If you dont have that part settled dont start any investment. Diversification is done to help build a bigger picture of your investment portfolio so that you will have so many places which will give you future benefits.

Using profits from investment returns from Bitcoin will certainly be very good and if we get profits from the business we are running we can still invest in Bitcoin again, because by having several sources of income this will make it very easy for us to meet our needs. we will need in the future and we will still get profits that we can use for our daily needs from the business.

Don't expect holding without challenges

https://twitter.com/rovercrc/status/1759255957006139651?t=0NPU8k18o81QEJ1MCkWLLQ&s=19


Maybe many will have to understand this that when we are talking about holding, it's not just what you can get into and invest to hold, you have the task ahead to do, starting from the way you will conduct your own research, understand the reason why you should hold, the duration for your holding and how you could make the best of interest while still holding before a particular period of time, from my previous post, I made mention of not afford investing on other assets first before Bitcoin, which means, if you're a potential investors and is having a lot of considerations for an investment, Bitcoin is the best and 3asy way to start up with.

I agree with you, @Tmoonz, because after we have completed our bitcoin accumulation plan, if there is a need to diversify our investment, we should start a business that will generate money that we can use to solve our daily life problems, and it will allow us to hold our bitcoin investment for the long term because it will be a source of income that we will use to solve our daily life problems, and we will not depend on our bitcoin investment to solve them.

But get the context, ser. When I mention "small capital" for investing, it's somewhere between four figures to - let's say an amount that starts the five figure amount - $10,000. Compared to Warren Buffett or some other institutional asset manager's billions, that's absolutely very VERY small.

But if your presumption is starting from a mere few Dollars, then it's either save more to buy the DIP and HODL, or do DCA then HODL which STILL are good paths to start your Bitcoin investment journey from zero. But if you suggest that they "trade", and "trade" with leverage then may God be with them because 90% probability is they can't win against the professional traders and their army of bots.