Topic: Buy the DIP, and HODL! - page 308. (Read 123703 times)

I think everyone here, not just you, probably learned how to invest using the dollar cost averaging (DCA) method as per the JJG text. I also didn't understand how to start investing in Dollar Cost Averaging (DCA) method at first but I read this thread thoroughly before starting investing in this (DCA) method. Then I decided I would make my investments every month using the Dollar Cost Averaging (DCA) method or prolong it.

I am still continuing my investment. Maybe I will be successful in continuing my Bitcoin investment in the future. I have a proper intention with investing in bitcoins.I will be successful the day I can use this Bitcoin investment for the right purpose. I said in one of my posts that I was depositing 45$ dollars every month in bitcoins, I have now added some more dollars to that means my investment has increased a little bit.I was able to add extra dollars to my investments because my source of income or the amount of income increased so that I could add extra money to my investments there.

I agree with you when it comes to accumulating bitcoin. Everyone has a strategy that is suitable for them, depending on how fast they want to accumulate bitcoin and the money available. As a newbie, you should stick with the DCA strategy in accumulating your bitcoin because it will help you control the volatility of bitcoin in your bitcoin investment and also allow you to save an emergency fund that you will use to settle your financial needs so that you will not depend on your bitcoin investment to survive shortly.

In collecting Bitcoin, everyone has a different strategy, there are those who buy it all at once whatever the price when they buy it and there are those who use the DCA method by collecting consistently according to the date they have set, but in both cases there are advantages and disadvantages too because if we buy At the same time, whatever the price at the time of purchase, of course we have to prepare a lot of money and we have to be able to hold it for a long period of time to be able to make a profit and if we use the DCA method, of course we have to buy it every date we have set and it will be very difficult if we don't have a fixed income.

That is exactly what am saying. In as much as we hold for long sometimes we decide to sell some stash and it is based on individual differences. because you have it and decides to sell off when you see the need for such. Afterall you have hold for a long term, of which not every one could even hold that long. They would have sold off. So the important of investment is to use it when necessary. and there shouldn't be a question towards it. Because HODL onto bitcoin is not hold forever, or hold into death. but HODL for a long term for future porpos. and it's your priority. Afterall you reaped the fruit of your labour and it didn't change the fact that your holding is still higher than the stash you sold. Where it could have been bad is selling of an unreasonable amount that will affect your entire holding. But checking the amount you sold then was just a peanut and wouldn't even affect the accumulating process.

The more days passes by so do more newbies flood the system. Most came with the notion of leaning new things like learning the accumulating process. Why some came with the notion of Merit hunting to rankup and apply for signature campaign. Although I can't question anybody on h/her reason of flooding or spamming the board but as an intellectual fellow you are, I know you are fully awear about it and just decided to play along. Because I know by now you should have known the difference between the sheeps from the goat or the spraut from a bean. But the main thing in life as I have learnt so far in this forum is that a reasonable word is better than a thousand junk of word without meaning. One should be able to sit down and understand when there is communication and when there is no communication. Life is a learning process and when you grow in age without growing in thinking, itbkeeps you stagnated and when you get credit for it people thinks you are a kind of genius not knowing it's just understanding what you truely doing.

We have definitely made mistakes along the way and maybe they didn't have a big effect on the course of our investment because we really focus on long-term investment and we can correct these mistakes during the long-term investment journey. However, in the strategy that I have done, I am not too interested in focusing on setting up reserve funds to wait for cheap price because I tend to accumulate Bitcoin every two week. So I think I will get a chance that might be more accurate to get a cheaper price.

In this context, Most of us have larger finances which makes it easier for them to organize their finances more efficiently into several strategies to be able to buy when prices fall by a few percent. Apart from that, a person's personal policy is certainly different because everyone has a different income, so in this case a plan that might be our choice is the DCA strategy which we can arrange in stage to buy Bitcoin.

That's reminds me of a story you can learn from, how a man invested in Bitcoin as early as 2015, at that time Bitcoin price was about  $800, this should be the misinvestment of his life, at least that is what he thought since it was the first time he had invested in anything, he looked at the price every day and  several times, the market fell and fell steadily, the man became more nervous and the  price later reached about $660 and what else could he think of but to sell as fast as possible in order not to loss completely, thought and done the man was now without Bitcoin , he had lost %30 of his invested sum and refused not to invest again.

The truth is that the man panicked and lost focused and forget that holding for long term provides the potential  for significant price appreciation over time.

The forum particularly this thread had given a profound impact on me about Bitcoin and all thanks @JJG . It is important to approach Bitcoin investment with long term perspective by staying informed. The long term growth in Bitcoin investment always points me to a worthwhile bigger picture of the future.
 
Essential factors influencing long term Bitcoin investment

1. The income flow

2. Market condition

3. investment strategies

4. individual circumstances.

 True hodlers Will tend to hodl on their investment even if the market crashes or become highly volatile.

Yes, there are many investors who wait for Bitcoin price to drop to invest in Bitcoin and end up regretting it. So it is best to buy bitcoins with DCA method instead of waiting for the price to drop. But those who missed the low price of Bitcoin, may regret it even more when the price of Bitcoin goes up a lot more in the future. So from now on they should invest in Bitcoin with DCA method. If you can hold for a long time by investing in Bitcoin, you can definitely make a profit. Even if the price of Bitcoin goes down, your Bitcoin amount will not decrease, only the price of Bitcoin will decrease, but if you hold for a long time, you can profit.

For example, those who invested in Bitcoin during the bull market in 2022, those who are holding for long have almost recovered their losses, hopefully they will profit soon and if they have invested in the DCA method, they have definitely profited. On the other hand, those who could not be patient sold bitcoins at a loss. So if you want to invest in Bitcoin you need to learn to be patient first. If you can't be patient, you won't be profitable.

You didn't get my points, talking about p2p isn't about exchanging Bitcoin with fiat but rather as a means of performing transactions with one another, okay after you must have accumulated as many bitcoin as you can will you just leave it their for decoration or remembrance? Not actually as you would also want to use part of it to afford some things you needed in life and you can buy from people that uses Bitcoin as a medium of payment as well that's my point so don't misinterpret what I'm saying when I talk about p2p because I'm actually referring to a decentralized system of dealing directly with whom ever I want to do transactions with rather than using centralized medium like the banks and other third party methods.

We are accumulating bitcoin for the future in other for it to stand as medium of exchange of goods and services and also to replace the use of fiat since it is a digital currency so it's only when we have acquired alot in our portfolios that we can make it's adoption become a reality so let's keep accumulating because that's exactly the stage we are in for now.

It is probably good to just keep to temper yourself, even if you want to invest more because when the BTC price goes up, you will likely feel a wealth effect, and sure if you can increase your DCA amount, then I am not trying to discourage you as long as you continue to have a 4-10 year or more investment timeline at the time of any BTC purchase that you make.

But, yeah, for many folks, 10% is surely not outrageous.. but investing 10% or more still depends on your overall financial situation, and for some folks 10% might be too much and for others 10% is fairly whimpy... but it still remains a good target starting framework in which guys can attempt to consider their own particular target amount.... and another thing that we likely realize is that with 10% it is still going to take 10 years to reach 1 years of worth of salary invested, which surely may well be fine for some folks, as long as you realize the ramifications of how it plays out.. so you consider short, medium and long term ramification to the best of your abilities based on what you know now and your putting these ideas into practice will hopefully make them more concrete and meaningful with the passage of time and the ongoing continued application of the ideas into practice.


Of course we are in the ballpark of 8 or 9 doublings since 2015.. as I discuss in this post.

In other words, a lot of value can come from both experiencing a variety of BTC doublings but also to experience real value compounding effects.. and even if there are no guarantees that the doublings and/or compoundings will continue in bitcoin, the ongoing debasement of the dollar and other fiats is not going away.. which continues to strengthen BTC's ongoing investment thesis.


I know that a lot of folks quibble with the idea of bitcoin as an investment, but the problem is that it is an investment and not just some technical mumbo jumbo.

Sure the technical aspects of bitcoin support it in terms of how valuable that bitcoin is as an investment, yet I cannot see how it is helpful to stop using such terms in order to better help people in regards to how they are going to invest their time, energies and/or value. .which some of that should be into bitcoin. .and surely they may likely have to consider other kinds of investments that they have in order to figure out some kind of a balance because even with bitcoin, it is likely better not to put all of our assets into bitcoin, since many of us still likely need to make sure that we are balanced in fiat systems, so we likely have to continue to make sure that we do not get reckt because we failed/refused to adequately keep a sufficient amount of value in various fiat systems... how are we getting paid and how are we paying our expenses?  are some of those expenses discretionary or are they needed in basic kinds of ways such as food, lodging, transportation and other needs/wants that we might have.


When the true emergency ends up happening, you will be glad that you have an emergency fund, and you will be especially glad if you have enough of a float that you do not have to sell any of your bitcoin before you can get back on your feet, but some times, you will end up having to dip into your BTC to sell some or part of it, and whether you could have had avoided that cannot be clear in any kind of general way since each of us should be trying to put ourselves into a position in which our emergency fund, reserves and float are of a sufficient size so that we never have to dip into our bitcoin, so the more uncertainties that we have, the more of those emergency funds we are going to need, including if we have other cashflows and other assets and/or even some people who we can rely upon as our emergency fund, but we should be trying to be realistic regarding all of these kinds of matters in terms of how much we need, and if we might be building our emergency fund and our bitcoin holdings at the same time, we might already be realizing that our emergency fund is in adequate and it does not even meet the 3 months minimum threshold.. so when we start to dip into depleting these resources and we are not replenishing our cashflow, then we should already be seeing these kinds of problems before they even strike... so we might be really screwed if we are not taking actions to increase our cashflow and/or decrease our expenses while we are able to work or whatever to make sure that we do not get into a situation in which maybe we really need the emergency fund because we are not able to work, and our expenses are rising way beyond what we had previously anticipated (perhaps due to lack of planning and preparations).

So it could well be that we should not be investing into bitcoin if we cannot get our shit together, and sure I recommend that guys are as aggressive as they can be with both getting into bitcoin and accumulating bitcoin, but if you are getting into emergency situations, you likely are engaging in gambling rather than investing and emergencies should have pretty damned low chances to happen in such a way that you have to dip into your BTC, and if you are dipping into your BTC fairly early, you are likely doing something wrong or you maybe should not be investing in BTC because you do not have sufficient disposable income and/or a stable enough of a situation to make sure that your BTC investment is protected for the next 4-10 years or longer.


Of course, even thought there are no guarantees, there is also a certain degree of latitude, which maybe shows that none of us need to be perfect or even try to be perfect, even though we likely try the best that we can to get some kind of ballpark application of practices that may well end up being directionally correct, even if there are various ways that whatever we choose to do is going to contain some flaws. 

Accordingly, bitcoin has been very forgiving to those of us who have emphasized accumulation and HODLing.. even though many of us might have had employed some smaller kinds of strategies - yet our main strategy and the bulk of our BTC (perhaps even 70-80%) is mostly just sitting in cold storage and we are adding to it at various points along the way.

So being directionally correct pays off even if there are likely to be some mistakes along the way. .and the mistakes may or may not be perceptible at the time that they are being made... there can be some questions or tensions regarding how much of a balance to keep in various accounts that we might create. .and questions about whether we can put off some expenses (defer them) or if we might spend time trying to earn more income or if we might set aside some value to prepare for dips, and how much value do we want to keep on the sidelines for preparing for dips versus just buying right away or spreading our BTC buys out over a whole week..

Those who didn't buy bitcoin when the price was low should not regret that it is too late for them to start accumulating bitcoin because they think they will be slow to accumulate the quantity of bitcoin they want through the DCA strategy since the bitcoin price is high now. Don't lose hope; there is a strategy that will make you fast in accumulating your bitcoin, which is dividing your money into 2 equal parts and using one part for a lump sum buy in case the bitcoin price still keeps trending up, and the second part to be accumulating bitcoin at regular intervals with the DCA strategy, whether the price of bitcoin is increasing or decreasing.

Due to the anticipation of further declines in the Bitcoin market, many individuals may find themselves hesitating to invest in Bitcoin this year, or even in the next three years. This group of individuals, hoping for Bitcoin to drop below $39k before making a purchase, might persist in their wait even if Bitcoin reaches $20k. They could be the same individuals who continue to hold out for even lower prices, perpetually missing the opportunity to invest in Bitcoin and living with ongoing regret.

Bitcoin's unpredictable nature suggests that those with long-term investment goals shouldn't wait for further dips before initiating purchases. Instead, they could consider dividing their investment, purchasing a portion now and incrementally adding to it over time using methods like Dollar-Cost Averaging (DCA). This approach allows for steady accumulation regardless of short-term price fluctuations, ensuring that one's investment strategy remains consistent and adaptable to market conditions. Waiting indefinitely for lower prices carries the risk of missing out on potential gains and the opportunity to participate meaningfully in the Bitcoin market.


Predicting the future market of Bitcoin is exceedingly difficult, given its volatile nature and the myriad factors influencing its value. Consequently, i might wonder why individuals persistently wait form more dip before purchasing, when employing the dollar-cost averaging (DCA) method offers a strategy to accumulate Bitcoin over time, potentially acquiring it at various prices and benefiting from discounts. By consistently investing a fixed amount at regular intervals, regardless of market fluctuations,DCA mitigates the risk of mistiming purchases and allows for a smoother entry into the cryptocurrency market, promoting long-term investment goals while minimizing the impact of short-term price fluctuations.

Though I don't actually know the reason why you said that this thread is "becoming difficult to keep up with" but regardless of whatever the case might be I'm thankful to you for keeping this thread running for some years now and i believe a lot of us have been able to acquire great knowledge from you about the importance of buying and hodling Bitcoin for a long time and also to use the DCA for regular accumulation, I in particular within the short while I've been in this forum and following you up on this thread, i must say that you've impacted some knowledge in me on my bitcoin investment journey so far and whatever be your decision i think you deserve some accolades and respect!


Definitely, the interaction among users who took this thread of high level of importance is superb, just like a saying "a tree doesn't make a forest" so it is and it only takes "two to tango" so the level of understanding and confidence of users who have been following up have been elated.

Actually few people are involved in this accumulation process and I believe persistence is they key, so with time the whole accumulation process is gonna be over and good investors reaps the dividends of their prospective investments.

I don't know how you guys comes up with some conclusions. What brought main job and part-time job into this discussion? Why not simply put it that one need a good cashflow to be able to invest in Bitcoin? Many people in this forum have their source of funds in diverse ways like inheritance, business and so on. Your assertion of making main job and part-time job a prerequisite for bitcoin investment might be misleading. Anyone with a source of income can invest in bitcoin, he must not do two types of jobs to do that because investment is made with money and not job. I understand that you are suggesting a secured source of cashflow but your choice of words seem to be the problem.

Having a main job and a parttime job can help you have a steady income and more freedom to invest in bitcoin. If you put a good amount of your salary into bitcoin you might make money in the future when the value of bitcoin goes up.
And your views on not being married and having fewer financial responsibilities can be helpful. It means you have more money that you can use to invest in bitcoin and make the most of any chances to make money in the market. This is especially good for people who really believe in bitcoin and want to get the most out of their investment. And if DCA will be used so this is more is investment strategy which everyone can use.

In my own opinion, I won't actualize it as a mistake because It was all done intentionally, you sold due to the market experiencing an uptrend and back then you made a good profit from it, that was base on your own reasoning and what you deemed fit at that point. Everyday of our lives we grow and adapt to new ideas and ways of doing stuffs, currently you won't make such a decision of selling too early without completing different cycles. Seeing how much of your time and knowledge you put in here to see people not make such drastic selling decision is really appreciating.

It's good to see Bitcoin hiiting the $47k mark, many will find delight in the price while some may not be too happy seeing the price keep going high as they are not yet very much contented from purchasing in a much lower price.

Nevertheless, there is still enough time to keep purchasing Bitcoin as we are yet still below our previous ATH,  so there is still enough room left to accumulate and add up to our portfolio.

Those who DCA are not evenly affected by the price change that alone should show a kind of superiority of DCAING over other strategy to Bitcoin accumulation.
Those who would prefer strategically buying from the DIP should also take this as part of a good opportunity to buy as we never tell in what price movements the market will follow.

Main job and part time job is very important thing to be long term investment in bitcoin, not get stable financial will difficult how to manage our salary for daily needed and investing in bitcoin. Personally had an exceptional for some one not marriage yet because their daily needed not spend large amount every day and can spent more than 60% of their salary for investing in bitcoin.
Have well main and part time job will be easy for accumulating bitcoin in daily or monthly but not support with good payment salary in offline work will face difficult how much have to spent for accumulation bitcoin and another side we need spent money every day for daily needed.
Work hard right now and invest as much possible in bitcoin before getting disappointed in one day later when bitcoin have raised more higher price.

Mate, every investment involves risk. That is why it is always good for you to carry out your research to know if the investment is worth the risk before you can invest your money. Also, don't invest what you cannot afford to lose so that if the investment goes sideways, it will not affect your life.
Job security is important to consider before starting your bitcoin investment because it will help you take care of your personal needs. If you think someone will be laid off from his job for no reason before that person starts his bitcoin accumulation journey, he or she should save a reserve fund that he or she will use in the future in case he or she loses his job that will help to settle his financial needs until he or she gets another job so that he or she will not depend on his bitcoin investment to settle his financial needs.

you can say that again. Like yesterday when bitcoin was around $47k when I checked my portfolio (not the type that always checked i just love a accumulating) it's put a good smile in my face and was even more encouraged to keep DCAing and I saw that all my hard work actually paying off pretty good. Before I was planning for long-term investment but after seeing this thread and learning more about holding and accumulating as inspired me to even hold longer and keep accumulating
yeah you right those that keep procastinating would endup regretting big time,  that why DCA is alway encouraging even though you are the type that always focus on buying the dip only, if you are such try an back things up with some nice DCA strategies in orde to accumulate good quantities of bitcoin and to sustain a better portfolio. So those of us that holding a certain quantity of bitcoin should continue to increase our portfolio. And also do so to keep your security phase safe that one of the main thing in holding, because without that you won't be able to access your bitcoin in some certain scenario. Just losing those 12 seed may end to one losing all it's asset in his wallet.

The price of BTC is now comparatively less when you see from the beginning of its creation then only a few countries allow their people to invest in bitcoin. and only a few countries that have legalized it as a means of payment such as el salvador. Hopefully one day every country will start the same way as El Salvador.

The price of BTC now continuing very very cheap. so its actually not too late to get in now because the true potential of bitcoin is still completely seen. I believe in next generation where people will be more smart with technology and communication knowledge then that's when bitcoin will really be accepted in every country.

Eventually the opposition of BTC who have been cornering bitcoin all this time will secretly collect from now they want to be the ones who continue to dominate the market.

Currently the price of bitcoin is above 47k, hopefully this shock will push the price of bitcoin further. Bitcoin price has increased by 9.7% in the last one week. Hopefully it will continue now and this push will go far. Those who haven't bought Bitcoin yet will regret it. Those who expected the price of Bitcoin to dip, and thought they would buy when it dip, are now in for a big regret. But they should start holding now without regret, using DCA method. They can also benefit a lot from this, if they can keep it up, one time also their bitcoin portfolio will be get bigger.