Topic: Buy the DIP, and HODL! - page 305. (Read 123703 times)

Your right about bitcoin beign in its early days and we are still expecting much potential from it, anyone accumulating bitcoin or storing his value in bitcoin is on a very safe side cause at the end of the day bitcoin wouldn't be like fait currency that loses value everyday and is beign printed everyday, check out my own local currency naira it has so lost value in the past 2 years than it did in the last 10 years before, and it's still losing value, to me bitcoin offers more than an investment opportunity but it also empowers me to at least be safe from deflation which is so constantly happening in my country, if not for the fact that Bitcoin p2p has not become so widely accepted in our local market and probably would still be a problem cause of high gas fees or even old people finding it difficult to learn, I would not have valued having any asset in cash, cause right now it more like a liability than an asset.

There you go, I see you as someone that is in to or support trading thou am not against you for that is your choice but talking trading in that manner is totally deviating from the concepts of this thread, because there is no way you can classify investment on Bitcoin for long term and those that invest for short term profit maximization, there is a total difference between the two.  

Talking about short term or trading means that you are exposing yourself to greater risk of losses and is more like gambling than investing because it creates that emotional unrest of monitoring the downward and upward trends of market condition by focusing on profits maximization within the shortest time frame, trading is very complex even to  old  experience traders let alone the newbies.

Just know that trading for short term profits is more like gambling than investin, and the topic of discussion is based upon long term investment alone and not it's combination with trading for short term profit maximization. If you are combining the both I think it should be done quietly rather than  bringing such idea here, i think prioritizing long term investment alone is why we are here.

To he honest as a investor would you keep to this, because you may endup not accumulating more bitcoin. Buying the dip and all that is great and nice strategies we all know that. But how often you sure you gonna keep buying the dip that means in a scenario like when bitcoin was still In $40k as an investor that have the mindset of  always buying  the dip only. so you would have to exercise patient till the price decrease to around $38k or below. But look now what is the present price of bitcoin is it below $40k nahhh bitcoin now is around $50k and before hitting that price it's didn't experience any dip  below $40k. So as an newbie that haven't invested more in bitcoin and you always waiting for the dip, what would be your faith now if this $50k is just the beginning of the bullish run. Means that you've already missing out that is why is  always advisable expecially for newbie to always exercise DCA strategies irrespective to your financial capability to avoid state of you missing out.

Here we learn strategies on how to hold Bitcoin for the long term. We may want to sell our accumulated bitcoins whenever we feel the signs of market improvement, so we will follow strategies to invest in DCA method. Investing in the DCA method will save on the average price of Bitcoin. And our bitcoin investment will be long term which should be minimum investment period of 5 to 10 years.
The more Bitcoin is a long-term investment, the more sales profit it is possible to achieve.

I disagree with your statement because profit is what we will benefit from our bitcoin investment if only you have the patience and energy to hold bitcoin for the long term.
Anyone who is using the DCA strategy to accumulate bitcoin does not mean the person is poor. The DCA strategy is used by investors who wish to reduce the influence of volatility over their investment. The DCA strategy allows investors to accumulate bitcoin even when the price is increasing or decreasing. If someone decides to accumulate bitcoin when the bitcoin price is at the dip, anyone will jail that person because it is his money, but that strategy will only make him or her accumulate bitcoin at the dip, which could delay his bitcoin accumulation process because if bitcoin doesn't dip to a certain price while the person is waiting, he or she cannot accumulate bitcoin. As a newbie, you can stick with the DCA strategy for accumulating your bitcoin because it will help to control your emotions and you will not get hurt while accumulating bitcoin.

Finally the price of bitcoin is 50k. We understand that we are in a bullish market, as it has risen sharply over the past week. It has increased by 16.8% in the last one week, which clearly shows that the price of Bitcoin is now in the bull market. We should accumulate as much as possible. Because it will definitely increase. Trust and holding on bitcoin, it will surely reach 100k. All that is required is long-term holding and trust in Bitcoin, and hold it patiently. Of course we can achieve success.

But you could also set in today and with your investment be far better than those before you since the beginning of the year, some started earlier but couldn't maintain and keep up with the market and their investment was withdrawn out of fear for loosing the money, we can also have someone who recently started investing in bitcoin, understand how to trade is could be making more profits while he's still having more coins in his portfolio for hold over the bull season aside the trading he's into.


We cant be always accurate even on how we speculate the market, but believe me, there's a way we could be more close to achieving the best about the market trends if we really ho to.


I still believe that the future with bitcoin investment is as interesting as the ones other investors had enjoyed in the past, we can begin the journey to our own now to enjoy more better with the future ahead when the time comes, only if we are investing now and holding till then.

I agree with you. Thanks for the clarification of that word interest, which should be used on third party little additional money to your investment. I don't think why a long term bitcoin investor should have such mindset of keeping his bitcoin investment portfolio with a third party, when bitcoin has given us the opportunity to be our own bank, buy using a self custody wallet to keep our bitcoin for our own safety. The risk of keeping your bitcoin with a third party is higher than the little interest that will be added at the end of whatever period of time was the agreement. This is why a good storage wallet is the best to store our investment over a long period of time so that the compounding value is certain, and there will be no bad news that our investment has been gambled off by the third party. I see anyone that thinks keeping his investment with third party as someone greedy and he does not know that his greed can cost him losing his entire bitcoin kept with third party, which will be the most regretful mistake that person will live with for the rest of his life.

It is better for an investor who don't have any bitcoin but have the money to invest should get started immediately, after he has put all the necessary funds needed for him to survive his bitcoin long term journey in place. This is because if he waits longer from now up till next year, his money might have depreciated in value, and currently we have start seeing bitcoin price shooting up again, so it is dangerous because the price might keep going up and not coming down since we are expecting the halving and the bull run. I wouldn't advise a no coiner to wait till next year and buy during the bull run, because the price then might be discouraging and you will only acquire little fraction of bitcoin even though you are going on a long term ride. Who knows what bitcoin price will reach next year.

Actually, no matter if you are involved in bitcoin accumulation or not, you still need to have an emergency fund or at least you need to think about a plan to build or have an emergency fund even though basically for example you are not involved in any investment including bitcoin accumulation, but I said that this emergency will be something very important that leads to a preparation as one of the precautions especially to overcome various problems. If it leads to the goal then obviously the most important benefit of having an emergency fund or having an emergency fund is as I said that the main purpose is to overcome some unexpected problems (one of the reasons why it is called an emergency fund) such as for example when you are involved in bitcoin accumulation by always using the DCA method and then at a certain time you experience an unexpected problem that makes you or requires you to spend a certain amount of money to solve the problem, and with the emergency fund then this will prevent you from ultimately not selling part of the bitcoin accumulation that you have been maintaining.

And on the other hand if you are not involved at all in the accumulation of bitcoin then the role of this emergency fund is also not much different as when you are in a bitcoin accumulation situation but maybe the difference is that your main goal is to prepare yourself when at any time you lose your job unexpectedly and clearly this emergency fund will be able to save you from the needs of life that cannot be tolerated. So clearly the emergency fund has a very important role in these two situations, namely either to keep the accumulation that you have been running so far to survive and / or to save you from the needs of life that cannot be tolerated even though you are not involved in accumulation at all.

That's why I don't like that yield farming or anything you call it which have long months or years lock-in since we don't know if they could able to last for long period of time.

Usually what we can see there is they turn scam and they take those balances and fucked up all their investors.

Much better if they just save their bitcoin on their personal wallet since they have total control of their funds and they can do whatever things they like especially selling it when they want pinch some profit.

You are actually right on this bro, their is no need to regret of missed opportunity, the DCA method makes every minutes of the day am opportunity to buy and it's also make it easier in the accumulating process, right now we are still in the early days  of Bitcoin, so I believe that it potential is way more than this $50000 Mark that it's now, Bitcoin as an asset have behaved like a fine wine 🍷🍾 over the years because it get better with age, and I believe that due to it limited supply, it has the potential of going up to $500000 Mark in the nearest future.

It can really pay off to stick with something, even if you end up with higher costs per BTC... but there tends to be really no way of knowing that the  BTC price is going to continue to go down.. so some of us who start buying at or towards the top might get a bit discouraged, but with an asset class like bitcoin the persistency pays off.... and such persistent buying may well not end up paying off with any shitcoin.. so you gotta be careful if you try to apply the same persistency to a shitcoin.. which we should realize that bitcoin does not fit into such category..

And, so by the way, you  and Saylor ended up being in a bit of a similar camp.. since Saylor had bought quite a bit of BTC at various points during the 2021 top... and so he ended up dragging up his cost per BTC quite a bit..  ... but yeah, Saylor is a bit of a different story, even though some of the persistent DCA still can be seen through what he had been doing and continues to do.

By the way, I even heard some seemingly smart guys misinterpreting the fact that the further that anyone of us goes back in our BTC journey, the more and more compounding our BTC investment tends to experience, so they were reading the recent entrants having way lower returns as some kind of indication that there is a need for recent entrance to change their strategy (meaning to trade more), which truly is both a bunch of bullshit, but also misleading..

because the BTC-related DCA data has always tended to show that the more recent entrants in the market tended to be way worse off than the ones who had been in longer.. and sure there are some cases in which guys are going to be able to buy on dips and lower their cost per BTC, but I doubt that they are going to do better than then guy who continues to buy.. including the guy who continues to buy can also buy extra on dips.. and at some point he is going to feel that he has enough.. which is difficult to imagine too many scenarios of guys having enough in less than a full cycle of BTC accumulation.. sure there are cases, but the vast majority likely are better off to ongoingly, persistently, consistently and maybe even aggressively buy BTC for at least 4 years and then reassess the extent to which you might modify your approach.. and even with 4 years of doing that and likely having decent chances of being in profits (without guarantees) you may well end up assessing that you need 2 more years (so a cycle and a half) of fairly continued and aggressive (but not too aggressive) BTC accumulation.


In bitcoin it is not good to think in terms of compounding interest, but instead think in terms of compounding value.  

I touch upon that comparison in another thread in a post of mine from a few days ago:


Historically, many folks have gotten overly greedy with their bitcoin and they put their bitcoin with third-parties in order to receive interest or yield and then they end up getting fucked.. so frequently it is not worth the risk to be using those kinds of interest bearing products in relation to your bitcoin, unless you can have some confidence that they are not gambling with your BTC too much.. which is truly difficult to assess because sometimes they are lying to you about what they are doing with your BTC in order to earn the yield.

You have a point saying that bearish market is good for the buying, but I don't think that anyone should be in  regret about missed opportunities, cause  everytime is a good time to start your accumulation journey, what would say about those that knew about bitcoin for more than 8 years ago and didn't take any action about it, sure they would feel messed up about that missed opportunity, but the truth is its not too late to start investing in bitcoin, even now some are still speculating 100k bitcoin price this year, while it's not guaranteed to happen but there is still hope for anyone who didn't start then, and I'll tell you that starting late doesn't guarantee how many bitcoin we would end up with, as long as such person stays on his track of using DCA strategically and finds a way to increase his allocations to buying bitcoin or maybe even some front loading on his portfolio he might not end up in much regret once he has consistently been practicing buying and holding for 4 years and finally he would be much happier, he might even end up with more bitcoins in his portfolio than most of us.

Anyone can still start investing this year or even next year and not be too late, all we are saying is that investing now is the best 👌,  the earlier the better.

Yes of a truth,  on the  note that the early you invest the the more compounding interest works to your advantage over those who started later on. But if you understand your asset(Bitcoin) and know the reason why you are buying (which should be for long term) then there should be no reason for much regrets, nobody can perfectly time the market when to buy, the most important thing is to buy because the feeling of regrets might makes you miss out the next opportunity.

It has been said that the best time to enter the market was yesterday and the second best time is today, this bring about those procrastinating buying Bitcoin or those talking about the best time to buy, is never tomorrow regardless of the speculations on both the bear and the bull seasons, if you can't buy now there is no certainty that you will be able to buy tomorrow.

You are right @JayJuanGee that's an interesting clarification because it seems @Olatundespo was missing up some things together and perhaps it seems he is not too familiar with the word Bitcoin because from my understanding he doesn't really know what cryptocurrency represent but perhaps I believe that after ready your clarification he should be able to understand the word Bitcoin instead of using cryptocurrency to represent the word Bitcoin, funny enough this not the first time I'm seeing someone using cryptocurrency instead of the word Bitcoin but however I realized that he has no knowledge about it and his understanding was that cryptocurrency is the right name without knowing that there is a difference and from there he was able to distinguish between cryptocurrency and Bitcoin.

Sometimes people got carried on with the discussion happening this is why sometimes they insert the trading talks in this thread without them realizing but also its good that there are people correct them since we can see that a lot of people paying attention to the current discussion happening and they want to continue to good flow and avoid any off topic that can dismantle this thread.

But anyways BTC is now touching up at $50k at it really means that there's always good thing to receive by those people who believe on long term that's why we can see a lot of people are now enjoying on current achievement they get for the rise gotten by bitcoin at this moment.

I'm not certain at this point where you are speaking from but I'm sure your absolutely wrong. Bitcoin is around 50kish since yesterday and has not dropped below 40k in the last weeks so I do not know where your 38k came from. You can take a look at coinmarketcap Bitcoin price here https://coinmarketcap.com/currencies/bitcoin/

If you have been following up from past pages of this thread you will find out that JayJuanGee have buttressed the case of timing the market before purchasing which we all have been talking about over some time now. with the help of DCA, you do not necessarily need to time the market and I believe by now most investors has taking good opportunities through this methodology to accumulate some quantity of Bitcoin.

With the modification and strategic buying of Bitcoin one do not need a definite timing of the market to buy, if you applied the few instructions in buying bitcoin you will end up accumulating more Bitcoin. Buy every dips which is more like the key concept of this thread and lump sum when necessary and the best of them all DCA, on a weekly and monthly basis as far as you emergency funds and other type of funds that can facilitate your day to day life has been put to other.

the truth is that failing to buy during a particular bearish period shouldn't make you to regret. There are individuals that haven't heard about bitcoin at the moment that will later know about it latter on, they will still buy at the current price of bitcoin at that time and will still make profit during future bull runs. Some of us that have joined this current set of Holders have not experienced the previous circles and within some few months into our investment, there is a reason to smile to some extent.

this sums up the essence of this discussion. Their is no advantage in procrastinating or excessively waiting for a price that is as bearish as shit before buying. The only guarantee that you will make a profit out of your investment is to buy at regular intervals.

Those who fails to utilize the opportunity of acquiring bitcoin when the market is in bearish condition will have nothing else but regrets and you and I know that regret doesn't add any profit to your holdings. One thing I have love about my stay in this thread for the little time I have been here is that this thread has given me a sound conviction of mind that bitcoin will always rise after the bearish market. So I see every bearish trend in the market as a norm and an opportunity to get more bitcoin. If you don't buy you have no option but to live in regret. But the truth is nobody gives a fuck about your regret. In bitcoin investment you gain as much as you are ready and willing to buy. There is no magic in it.

except what you are referring to is a short term investment if not either choosing to invest at $38k or $50k doesn't make any difference for a long term investor. The rate of volatility were are currently experiencing hasn't gotten to the height where you will assume that it isnt profitable to buy at the moment. Although it would have been more profitable to buy at the $38k to $40k price,  buying bitcoin at it current price is still very much okay.

is it true that bitcoin price has a peak value? And that the current price is the highest it can go? I doubt to be really honest. I still feel that you're still sounding like one that is relating with the price of bitcoin as a trader rather than someone interested in holding for a long time. If you look at the price of bitcoin at the range of five to six years back and you compare it to the current bitcoin price at the moment, you wouldn't consider $50k a peak at all. If you have the resources to accumulate bitcoin now, I feel it's still okay to do so because considering the recent happening in the global market and the high rate of dependence and adoption bitcoin has experienced, buying at the current price and holding for just five to seven years will give you a very profitable investment.