Topic: Buy the DIP, and HODL! - page 298. (Read 137261 times)

Yep your right we are still in a very early adoption stage, so many persons doesn't know what bitcoin is or are even into bitcoin and the little who knows are divided into two categories, the once that are taking action and those that are doing nothing, even with all that is going on around bitcoin lots of folks that know about bitcoin don't even have coin in their wallet and this might be that they are crippled in their minds that they can't buy bitcoin because if the price or because they are busy gambling around with shitcoins and haven't realised that they should be accumulating bitcoin before the rest of the crowd comes in.

Yeah those with huge capital that have mostly understood that they only win in bitcoin is to have a good stake in it and are already doing so, so what can we normies do if not to try our best and accumulate what we can and as aggressive as we can, we might be able to have so much bitcoin to make us excessive wealth at once but if we keep on buying and holding with our long term plan we might still stand a chance to have huge wealth come our way maybe after 20 years of accumulation and we found out that we have even hootenanny a lot if bitcoin for ourselves.

IMO this is what many persons fail to realise that bitcoin is still in its early stages of mass adoption and growth and its not an asset to play around with and that's is why ideas of gambling disguised as buying low and selling high to make quick profits from bitcoin are not the best approach and would lead to high regret when they look back and find out that they Don't have enough bitcoin in years to come and that would be the worst regret, knowing about bitcoin and were too busy playing around and you don't have any stake in bitcoin or have a very small amount of it. The best plan possible is to stick with our regular DCA buying and try as best we can to stay consistent in what we are doing and in some way we are better than the rest that has not found out about bitcoin or even have not started and just lake the two guys from your hypothetical guy1 and guy 3 that started earlier although not as aggressive as guy2 but end up having a better stash than him and would take guy 2 up to 14 years to caugh up with them even with his level of aggressiveness, so yeah they is a reward for starting early in your accumulation.

I think I'm getting closer to having a better understanding of this, the larger your emergency fund is the more financial cushioin you have for investing into bitcoin and let's say that I have been building up an emergency fund for up three months from my income like about 5% going into that and I'm investing a total of 15% weekly into bitcoin, then my emergency funds would actually need a higher time to mature to be a good financial cushioin for me in my investing or do you feel its a good idea to make them equal, allocating equal amount to both building up emergency funds and investing in bitcoin, since my investment is technically unsafe if I don't have a good emergency fund, and yeah I'm just well above 20, still in collage so I don't think I can cut down my expenses any further than I am able to.

In the end, we likely can realize that not enough people know or understand bitcoin, otherwise more people would own bitcoin.. so yeah.,. too bad that we are still in the ballpark of 1%-ish adoption.. .so people don't even realize that it is to their best interest to learn about bitcoin and get some.. and so any of us who are already in such process, we are likely 10-15 years ahead of the masses coming into bitcoin - even though there are surely some rich people who are coming into bitcoin and hoarding all the coins, but you cannot stop people from coming in and front loading their investment into BTC, just like you cannot force normies to learn about bitcoin and to get the fuck started out of their own best interest (that they don't realize), and so each person has to come to bitcoin at his/her own pace and when s/he finally figures out that it is in his/her best interest to get some.

That's very true some persons actually think they know about bitcoin and would even engage in conversations about it but don't realise that they don't know what they are supposed to know like the empowerment side of bitcoin and how it is a better asset than other shitcoins.


IMO I think from what yoir saying there is a lesson that everyone needs to do some personal research to learn more about bitcoin and have an understanding of how it works and best to approach it, but another thing is how can these new persons understand what is a good knowledge from bad knowledge since they most likely don't know or have any idea on how to differentiate good knowledge from bad knowledge and most influenecers on social media or sources of knowledge they trust can also carry a lot of misleading information that would potentially lead them astray to shitcoins or even gambling practices like buying at low price and selling at high price, there are very few sources of good information with regards to bitcoin online, unless maybe some other communities like this forum, that information goes through confirmation from a lot of persons.


What I think is people often believe what they think would favour them and not the harsh truth, swaying words that woudl promise them huge profits would definitely sound better than someone teaching then how to build it slowly through proper planning and accumulation, so most times I still blame the reader or seekers of information cause they chose what they feel is best for them without taking time to properly validate those information if they are misleading or not.

I understand what you are saying, Dorkylickjj .. but it is still unclear..

Technically, you are correct.

An emergency fund it 3-6 months worth of income - yet more accurately, an emergency fund would be 3-6 months of expenses, and sure if you build up an amount of an emergency fund that is actually 3 months of your income, then it likely should end up going a little bit longer than 3 months - depending upon if you might be able to reduce your expenses during any actual emergency that would end up taking place... and if anyone ends up having an actual emergency, he likely is going to dread if he were to ONLY have 3 months and wished that he were to have more, yet we know that it likely tends to take quite a bit of resources to build up an emergency fund, even one as small as 3 months.. yet it is something that really provides a lot of security and ability to take greater risks and to be more aggressive in terms of investing into something like bitcoin.. ..

Another thing is that many of us likely imagine that if we are brand new to investing and we are living in a way similar to many people, we might start out with only 2-4 weeks worth of float, reserves and/or emergency funds, and so we might have frequently considered that 2-4 weeks is quite a bit of "extra cash" just sitting around and just there  for various shortages in cashflow, and we might be able to get by for years and years and years with such pracices of sparsely maintaining savings and/or any emergency fund.

So if we are wanting to build up our current emergency fund, float, reserves to be at least 3 months and likely to have a bit more than 3 months in there, then it well could take us 6-18 months to build it up to such higher levels.. .. just depending on how much discretionary income that we have and if we might simultaneously be wanting to get started investing into bitcoin and building our emergency fund, reserves and float at the same time that we are making our earliest investments into bitcoin and sat stacking.


That is a pretty dangerous mindset AirtelBuzz

I will agree that there are practices that are better than others, and there are a lot of ways to hedge your bets so that you have very good odds of success.. .. but no one is guaranteed of success, even if s/he does everything 100% correct.

And, I doubt that any of us should believe that we can even do all things 100%, yet we can try to do the best that we can with the resources that we have and we can make sure that we think through our allocations and make sure that we have various cushions.. but still we could make mistakes or there could be some crazy kinds of oversights or mistakes that we end up making, which also might end up being largely blamed on bad luck rather than anything that we did wrong.

Anyhow, it is dangerous to think that matters are guaranteed, even though there are quite a few things that we can do that are building in a direction that is within our preparations and expectations and to improve our odds of success in terms of however we might define success that is hopefully based on our own individual circumstances.


There are shitcoiners with legitimate confusion, and they might think that they already know about bitcoin or they know enough about bitcoin.. so frequently a person will not know what they don't know, so even smart people can get sucked into various shitcoin talking points without actually realizing that they have little to no clue in regards to what bitcoin is.

Another thing is that there likely are a lot of people who have heard of the word bitcoin, and they might think that they have some kind of a decent idea what it is, yet merely hearing the word and sometimes hearing some mainstream rendition of what it is, is not enough to actually realize actually what bitcoin is.. and so actually understanding ideas of sound money might be a bit more foreign to people than we presume such a topic as "common sense" when there are a lot of ways that people can get sucked into believing they know more than they do, and it may well be a good idea for some of them to actually spend a bit of time really studying bitcoin specifically.. whether it takes 10, 50, 100, 500 or 1,000 hours of study may well vary from person to person and the kind of source materials they are studying.

Some folks have a lot of difficulties distinguishing between good information and bad information, and they might actually believe the sources of their bad information and believe that their bad information is good information, and so when they actually come across some accurate and informative information about bitcoin, they might skeptically conclude that the good information could not be true since it conflicts with what they believe to be credible sources.

I was listening to a program earlier today about how the greedy companies are gouging consumers by raising their food prices, and so it can sometimes be difficult to realize that money printer go bbbbbrrrrrrr is way more blame worthy than what normies want to give governments more power to control prices - which surely does not seem to be a good solution, and I am not even anti-government, yet we likely should realize that it becomes problematic to have too many controls in place, even though maybe it becomes difficult to get rid of the controls .. so bitcoin and bitcoiners are going to sometimes end up being targeted as part of the problem rather than part of the solution... which still gets us back to either having information available but also having abilities to sort through good information versus not so good information... and we are all not going to agree.. but at the same time do we have rights and/or abilities to disagree or are we told what we are supposed to think and are we accepting of being told what to think.. and do we realize when we are being told what to think versus engaging in our own abilities to critically think about what might really be in our own best interests.

I disagree with this strategy because it is for those who are in bitcoin for short-term profit. Secondly, this strategy will make you miss out on bitcoin if you sell it for short-term profit because you will have a price where you would like to buy back your bitcoin, and if bitcoin fails to dip to that price, you can't buy back your bitcoin. You have to change your mindset to long-term holding on bitcoin because it is through holding that you can get the real profit.

I am very thankful for Bc.Games for that, which sponsorship is a great incentive for me to keep developing these tools.
@icopress also played a key role, seeing the value of the project and mediating this partnership, as he manages many bc.games campaigns.

I hope you guys keep using them. I am always open for suggestions to the website

What misconception are you talking about, everyone knows that there is a clear margin between shitcoins and bitcoin, yeah bitcoin might be a cryptocurrency but that doesn't make crypto currency BITCOIN there is a clear difference, how would someone just invest in a shitcoin thinking that it would give the Same result as bitcoin, the truth is that most persons that are investing in shitcoins are just gamblers and they already know the risk involved and that why I don't pity them, so yeah don't try to show pity by giving an excuse that they were under the ignorance of misconception, their knew the risk they took it and they also know that bitcoin was a better option but were looking for quick gains and they felt the hard side of messing around with their money.

Of course $66k is a dip, as compared to the $74k price that it was 3 weeks ago, yet we still cannot know which direction the price is going to go and how long it might stay within other price ranges - whether higher or lower from here.

As you suggested, if you already have a lot of BTC, then you are in a better position to just sit matters out and maybe even sell some, if that is what you want to do.

But if you don't have much or any BTC, then you still have to figure out what you are going to do, and if you had been buying BTC in the last month or so, then why would you not continue to buy BTC - that is unless you ran out of money for buying.


Hopefully, you are not ONLY preparing for down.. since down may or may not end up happening.


but it might not, too.


How do you know?


That sounds a bit ridiculous.   Not that you might NOT be correct, but that you think that you actually know what is going to happen.


It sounds like you got it all figured out. 

Good luck with that kind of thinking, you are likely going to need it.


Either you don't know what you are talking about, or you are in the wrong thread.

We are not talking about trading here, and if we are talking about investing, we do not necessarily need to be trying to figure out when to sell in order to buy more BTC at a lower price, which surely is trading (gambling) rather than investing.

You seem to be mislead if you think that trading is another kind of investing - since surely trading is not necessary in order to invest, and it is actually not a good idea to trade unless you develop some kind of a technique and skills to figure out how to either anticipate price directions and/or to hedge your various ways of buying and selling, which again is not what we are talking about in this thread or even recommending.

There have been a lot of people who have done really well in bitcoin, including doing way better than traders by employing various investment techniques that largely revolve around various ways of accumulating and holding BTC, which is the topic of this thread.. and surely you even likely realize the main BTC accumulating techniques as being dollar cost averaging, lump sum buying and buying on dips.

Of course in order to be decently good investor there are some personal finance management techniques that will help the investor to better recognize the extent to which he has available capital, including managing his discretionary/disposable income - which is largely the extra that is available between the amount of income coming in and the expenses, and surely if a person has saved up money and/or investments in other assets and/or currencies, then putting some or all of that value into bitcoin could be taken into account and potentially considered as a possible investment allocation option.


Of course, there are folks who might buy 20, 30 or more of various shitcoins, and then hope that 1, 2 or more of them might shoot into profits and to make up for the money that they lost on the others... which truly seems like a BIG ass waste of time, money and energies, which is part of the reason to recommend that those folks who cannot resist the temptation to involve themselves in shitcoin to limit their exposure to less than 10% the size of their bitcoin holdings, yet part of the problem with any degenerate gambler and person attracted to shitcoins is that they cannot limit their own level of lunacy, degeneracy, greed,  and/or desires to get rich quick.

Sure, there could be some of them that are able to save themselves from such temptations or to limit their exposure while maintaining their eye on the prize, which is bitcoin, but they don't seem to be a very common kind of person, even though everyone likes to consider themselves as reasonable, it is easy to get drawn into the shitcoin talking points... which we should also limit ourselves in terms of talking about it too much here.. except just suggest not to do it or at least to limit how much you do it and perhaps talk about it somewhere else so that we don't waste our time too much with such mostly meaningless distractions.

@348Judah seems having a contrary view on this subject matter, let's digress a little from the topic thread all about purchasing Bitcoin, but in these case of taking profits and whether if to invest or use the profits for diverse purposes. Firstly, it begins with the interest of the investors, each investor should have a few reason as to why he decides to sell off his investment, it maybe due to having physical investment that also demands capital or he also just want to take profits probably before experiencing another bearish cycle, this which is the most common out of every reasons.

Most investors who are deeply into Bitcoin investment and have no alternate investment plan would live their Bitcoin portfolio for yet another cycle, it depends on how we see and take the market to be, leaving our Bitcoin for another four years circle is what identifies an investor as one who seeks for long term hold.

In as much I enjoy the DIP, I do not prefer holding cash with the intentions of monitoring the DIP so one can invest, we can't clearly predict or speculate on how deep the DIP will be. We are expected to to take our profits and return back the capital into DCAING with probably little funds till the bearish cycle begins then we can aswell adjust the size of funds released for investment purposes.

It's time to buy DIP at $66K when the price drops buy DIP again below that, prepare your USDT because this is a big correction to be utilized well.

You don't have to worry about the bitcoin drop to lower because we are optimistic that the price will definitely recover again if you buy at the lowest point price then that's good, if you still want to continue DCA it's not a problem then keep doing it so that there is no stop in buying bitcoin during the current period.

There is no need to panic, even bullish will remain in the current season, even when you plan for a long term of 5-10 years this decline is not a panic.

Any IPO at all is high risk and with some hope also high gains.   The Facebook IPO as I remember it did actually appear to flop because it went $40 to near $20 if I remember right and many were crowing over how of course some new age trendy website simply could not be worth that much etc.   The guy who painted a mural and was paid in shares that became valued 40m and other stories (great artist tbh).    I was inclined to agree, its not my thing but of course the key point would be advertising and so they had revenue and in the end billions, it rose greatly; the initial landing was just a splash before it took off.
  Tech is very hard to invest in imo because it immediately appears over valued.

FB seems to have made  10x maybe 15x over its first valuation from just 12 years ago.   I've no real idea why its been so highly favored recently, I still think thats overdone but I have to admit I often estimate these things wrongly.   It is generally true taking up these things before IPO or near to that point can be very costly, its high risk.   I prefer the funds which do the research for me and can watch every minute to decide with all their experience, an arms length can be useful in avoiding conflicting your own judgement.     Anyhow I do think that applies to the **** coins market, I like that it exists that ideas can be a thing but it can also be they are blowing bubbles in the wind & its way less risk to take time to observe some track record.  

Obviously BTC has the best track record of all and its not done yet, why would anyone add anymore risk going elsewhere its already a wild ride

And besides that, the decline that occurs is a good opportunity for those who do DCA, because this opportunity can be used to increase their purchases when they have more money.
This dip is only momentary as we are close to the halving and this dip is a good opportunity to accumulate more Bitcoin and hold it for the long term.

And I personally have halved the bonus money I receive from my workplace for holiday allowance, to increase my regular Bitcoin purchases.
And I've been thinking about that decision for a long time, and using half of it is the right choice to buy Bitcoin and for me to enjoy in the future.

the thing is that if you don't want to learn from the mistakes of others you will obviously fall victim and people will definitely learn from your error. It's possible he invested into a project that had a lot of positive hype at the time and he must have thought it to be the next big thing only to be shocked by the current reality. For me, putting an amount as high as $10k into a meme coin or an alt coin is a bit unreasonable and I consider it gambling with your money to a very a degree. Now that it has downed on him that all his time and effort are all wasted it won't be supprisng to see him tagging crypto as scam without knowing that thier is a big difference between investment in Bitcoin and following after every shitty project that's hyped around the social media space.

the problem is that the misconception about Bitcoin and cryptocurrency has made so many naive folks to invest into any cryptocurrency thinking that it has the potential of of increasing in similar proportion with bitcoin and although some project might have had a positive trend  afterwards it's always meters down the road which should have thought those folks great lesson that Bitcoin stands as an exception to whatever crypto project that comes up. Imagine he invested such amount into Bitcoin? Do you know how strong his portfolio would have been? Even when some folks think that after stacking up a good amount of Bitcoin and have probably made a good amount of profit that it's now time to sell some and diversify it into other areas and then you're considering investing your profit into an altcoin or a meme project? One of the things we need to learn in our quest to multiplying our income is that the source that gives you those profit you're considering using to invest into another project remains your most reliable source you shouldn't play with for any reason. Well, these are all stories that don't count at the moment and I just hope he has learned the right lesson by now.

Yes it has been proven that investing in Bitcoin is much safer than investing in other coins. The coin in question is either Shitcoin or MemCoin, investing in these two coins is much more risky than investing in altcoins(Since this thread is a discussion thread about investing in Bitcoin, I feel compelled to say this).

If someone wants or comes to me for investment advice then I tell him first of all do some good analysis about investment and then invest in Bitcoin than investing in other coins which will keep you safe. It would be best for someone to buy bitcoins regularly and be patient with the same amount of money that he used to invest in other coins, barring extra profit on his investment. Not only do we have to invest, we also have to determine whether we are investing in the right place. If your investment is right then your success is guaranteed so invest in Bitcoin to ensure success and do it right and try to hold for long term.

I don't really know if you mean that we should invest with a mindset that our investment might not also pay off and we should be ready to take full responsibility for such outcomes and prepare ahead of time, but to me the possibility of our bitcoin investment not to give us any return or to return to zero is quite small although it is still something we must have in mind.

Investing when you are not financially stable is a very big gamble and would put you a lot of pressure, in fact it's not possible to hold bitcoin if you are lacking in some kind of way and are not able to take care of yourself, and that's why we normally advice that you should invest with your disposable income and with money you won't miss, so for this to be possible you need to have some extra after expenses and then decide to save it in bitcoin, yeah and other thigns like having an emergency fund which at times would take 3 months or 6months of income to build and having reserves and floats to carry around that would help us have a financial cushioin and maximise our investment in bitcoin.

Theoretically it may seem plausible but that is not always the case as the temptation is compounded when you convert your Bitcoin to cash that is stashed in the bank. Besides, holding cash for two to three years waiting for the bottom of the bear market, which is what many people do, is not easy. Instead of the problems that this method carries, which have been abundantly elucidated, why not simply HODL because what you supporting is not different from position trading because the life cycle is less than 4 years.

In other words, it is buy low, sell high for you. Well, that is not different from trading and I do not have problem with that, just that it may not be the focus of this thread because it is long term investment that is being discussed here.

Following the price sometimes can be a little disturbing, even with the ideas buying should always come first. Bitcoin price is unpredictable that's why it's advisable no one should play with his/her investment. If we're considering $66k a dip it's never too late to buy now. Let's consider earlier price as the main dip comparing with the current price, I don't expect anyone to stop accumulating during this period

When it comes to bitcoin investment, there's this saying "the way you lay your bed so you lie on it" bitcoin investment has nothing to do with failure at first start except you're referring to altcoin projects. Bitcoin investment still doesn't allow an investor to depend on their investment and accumulating at the same time except you're the type of investor that want a quick  profit but I still don't think it can workout. We talked about profit making and taking out early and it's not perfect when having a low accumulation level, for example, an investor can decide to invest in bitcoin with a selfish aim of making fast profit or like what you said in your last paragraph but the end result is nothing.  Bitcoin investment doesn't work with greed neither playing a fast game

That is actually what this thread is all about, not investing on shitcoin but rather invest on bitcoin. Looking at this information I see that it was a presale and not a direct purchase. It's more likely  an airdrop. There has been several warning about not buying altcoins and shitcoin but anybody who chooses to buy it, buys at his or her own risk or detriment. and when the problem comes, it will affect the person all alone. Everything we do depends on individual differences.