Topic: Buy the DIP, and HODL! - page 31. (Read 121701 times)

Great tips for this newbie, I would also advise you to look very carefully at how much free funds you can allocate for investing in Bitcoin using DCA, because it is very important to know your expenses in order to understand what the free balance will be.

Also tip number two: security.
Many newbies strive to pass KYC on all exchanges they can reach. I advise you not to rush with this and act thoughtfully. After all, how little to invest and hold, you also need to reliably store Bitcoins.

And these are great thoughts for a successful start! This topic is where you can highlight a lot of information for successful accumulation of Bitcoin through DCA and I am glad to see that you share our views. There is no need to waste time studying shitcoins, because beginners often chase profits and waste time studying information and waste time investing in coins that are then worthless and meaningless.
Bitcoin contains all the qualities that the attention of an experienced cryptocurrency was riveted only to it.
It's good to value your time.

There is so much truth and clarity in what you have said here. I noticed that beginners always tend to be curious about figuring out which wallet is best for them to secure. Before starting our investment we must know how to do things right especially keeping our coins safe. There are thorns of wallets out there. With just a few clicks on the internet -(' what are the most secured wallets to store my bitcoin') Google will provide lots of wallets and it is in our right to choose which we want after reading their features. Its now general that people prefer listening to strangers online and YouTube before choosing a wallet. When they can choose for themselves. To be honest, beginners should not be afraid to disagree with strangers on the internet, or even with so-called experts that have podcasts, social media pages, and resources on YouTube. Because at the end of the day, the investment/security decisions they will be able to understand and convince, trust, and uphold are the ones they made for themselves when the going gets rough or uneasy. But if they choose to listen to someone's opinion or advice then it gets to be for the right reason and they should know that they will take responsibility for their action, not the person which they took their advice or opinion from.

This will be one, if not the best decision you have made this year and you won't regret it. Learning about Bitcoin while you believe and start your investment is very important. While it is important is very critical to hold on to our Bitcoin during the dips when everyone is panicking due to market fluctuation. DCA is a valid strategy to start using as a beginner and am glad you adopted it. Many investors new and old learnt the hard way. Whether you experience a dip or increase, just relax because Bitcoin is likely to continue to go up over time. When you DCA and keep learning you will be fine with your investment.

I can see you're new in the forum  , well you have made a pretty nice choice in investing in Bitcoin rather than wasting your time in some shitcoins. That energy you have in researching about other shitcoins channel that energy in learning more about bitcoin and how to secure a better investment in it .

Well I can see that most users here have already told that this thread is for Bitcoin related and bitcoin investment stuff , so they are other threads at there where you can do crypto talk but not here though, but will advise you to reduce to shitcoins urge and focus more on Bitcoin so that you won't endup getting yourself rekt .

Yeah you are right.
Waiting for Bitcoin to dip is so boring, if you can do it now why wait, and there's no grantee that Bitcoin will dip anytime soon you may wait and wait in vain, some people may think is too high to buy Bitcoin at this price and feel they may not get any profit people who have this mentality are traders, long time Bitcoin investors won't have such mentality because the price of Bitcoin 4 years ago is not what it is now.
4 years from now Bitcoin was 18,803.00 and as of today Bitcoin is $65,771.13 USD, so the price of Bitcoin should not prevent you from investing now because the price it is now which is 65,771.13 USD is not the end price of Bitcoin 4 to 5 years to come Bitcoin will grow more than it is now, those that started accumulating Bitcoin consistently 4 years ago are now very happy they did just imagine they were waiting for it to go below 18,803.00 they would have missed out, as a long time Bitcoin investor there's no need waiting for a dip to happen before you start accumulating because is a waste of time and you may miss out.

I'm glad you have already gain understanding about bitcoin and cryptocurrency. For you to be specific in mentioning bitcoin and cryptocurrency I'm sure you already understand the two are different things and you have choose to invest in bitcoin which is very reliable to invest. You have made a good a decision to invest bitcoin, as a beginner will advise you to understand the volatility of the market and never to be worried when it goes dip, because the market won't remain dip forever.

 Beginners are always worried about the dip because they do not understand it. You have to be patient and crave to have more understanding because these are the things that can make you to scale through as you invest bitcoin. Try your best to have a source of income that you can always depend on and just invest with what you can afford. Invest at all time you have the opportunity and never wait for the best time of when to invest because if you think their is a best time to invest you may never invest at all.

You made the right decision by deciding to go into Bitcoin investment. Bitcoin is a potential asset to invest on, and this thread will make you know and understand more about Bitcoin and it investment, as an investor you must plan for a long term you should also understand that Bitcoin is a volatile asset as the price is not usually not stable as it fluctuate going up and down don't panic to sell if the price is dropping as it will still increase since your investment plan is for long term purpose, with your DCA strategy of accumulating Bitcoin you can accumulate more Bitcoin little by little either weekly or monthly and be hodling provide your discretionary income is available.

And in this thread in other not to mislead other newbies here you shouldn't use the word Crypto as it comprises the entire Crypto market both shitcoins which are unreliable to invest on if it is Bitcoin will want to refer to you will use Bitcoin if it is also shitcoins you will say shitcoins in other not to get others confused.

Of course, newbies can do whatever they want, yet I would not recommend holding back value to wait for dips that may or may not end up happening, unless maybe he might start out with a lump sum and/or front loading his/her BTC investment right from the beginning.  Otherwise it is probably better for newbies to concentrate on buying regularly (perhaps weekly) rather than giving too much thought about whether the BTC price might be dipping or not dipping.. and getting distracted into possibly employing unproductive waiting strategies.  But hey, each person can do whatever he likes and he is going to have to live with consequences in regards to whatever might happen in terms of his having had created good BTC accumulation strategies and including whether he might have been aggressive enough in his accumulation or not..


Welcome to the forum and welcome to bitcoin investing. 

If you want to waste your time and energies fucking around researching into shitcoins  (aka crypto) then that is your choice.  This here thread is about bitcoin, so hopefully you don't distract yourself too much with such nonsense such as crypto whatever that might be which seems to boil down to a bunch of shitcoins that likely end up wasting your time, energies and money, that is if you are not able to focus and you let yourself get distracted into such nonsense. 

Consider attempting to focus yourself and learn about and figure out bitcoin first, and so hopefully you have figured out some regular investment strategy that allows you to make sure that you are buying bitcoin regularly and making sure that you are taping into your discretionary income rather than money that you might need in the next 4-10 years or longer... so it can take a quite a bit of time to establish an investment and a BTC accumulation groove and also to get your cash management skills in place and to learn about various aspects of bitcoin while you are buying it regularly and building up your BTC stash. 

So it tends to not be healthy to be considering get rich quick ideas, and you likely need to figure out your budget, whether you are able to buy $100 per week or $10 per week or whatever might be your regular buying amount, it can take a while to build up a BTC stash without overdoing it and making sure that you invest enough without dipping into money that you need for your various expenses that likely exist on at least a monthly basis. 

Many guys take a while to build their BTC stash if they are merely DCA buying it every week, yet sometimes there can be opportunities to lump sum invest and/or to front load your BTC investment depending on your resources and maybe if you ever come across extra cash (discretionary income) that you can add to your BTC investment, then you can consider categorizing any of that extra cash in terms of DCA, lump sum (buying right away) and buying on dips...

And surely at the same time that you are investing into bitcoin and building  your bitcoin stash, you may well need to keep in mind various justifications for building up and maintaining various back up funds that includes an emergency fund of at least 3 months of your expenses.. so that you never would have to tap into your bitcoin investment, except at a time that is completely of your own choosing. which if you have an intention to invest into bitcoin rather than trading it, then you may well be wanting to consider how to build your bitcoin investment over 4-10 years or longer and learning what you are able to learn along the way in order to figure out if you need to tweak and/or personalize your investment strategies within your own personal circumstances (such as the 9 individual factors that I listed in another post).  A lot of the learning tends to come from getting involved and doing your research, yet at the same time you can bounce ideas off of various members in this thread or other forum threads you find to be interesting, and sure it is up to you if you can figure out ways to stay focused on bitcoin rather than getting distracted into pump and dump schemes.


There is no guarantee of profits, yet at the same time, if the bitcoin investor does not use leverage and merely buys bitcoin on a regular basis, then the most that any investor into bitcoin can lose is 100%. So each person investing into bitcoin should be using money that he does not need for his expenses and realize that his bitcoin investment is not guaranteed to go up... yet if he is investing for a long time into bitcoin he can continue to learn about bitcoin and hopefully gain more and more confidence in both investing into bitcoin and also managing his bitcoin investment, which includes hopefully learning how to self-custody most of his bitcoin rather than leaving his bitcoin with third parties in the event that he might be buying bitcoin through bitcoin exchanges.


This is true.  A person should not be investing into bitcoin unless it is extra money that is not needed for his expenses... so some people make way more money than their expenses, and other people struggle to make enough money to cover all of their expenses.  So it can take some skills to make sure that the income is sufficiently exceeding expenses in order to NOT be investing into bitcoin with money that will be needed in the next 4-10 years or longer.


These are good ideas too.. except that it seems to me that you have to make sure that all of your expenses are going to be covered before you invest in bitcoin, and if you have doubt about your having enough money then you should not be buying bitcoin with money that you might need for your expenses, and so it seems that a lot of folks can attempt to make sure that they maintain enough cash cushion so that they are able to buy bitcoin every week, yet if your income versus your expenses is tight, then you could run into troubles if you buy bitcoin with that money.  And, if you make mistakes managing your cashflow and/or investing too much or too little into bitcoin, you have no one to blame except yourself.  You have to figure out an investment balance that makes sure that you don't put yourself into a position that you screw things up for yourself in your finances and even having to sell bitcoin at a time that is not completely of your own choosing, which surely might be 4-10 years or longer down the road before you might start to sell some of your bitcoin if you had been spending quite a bit of time accumulating it... depending largely on your own BTC accumulation circumstances.


Those kinds of funds are not needed to be established in advance, yet they may well may need to be established in the early days of getting started investing into bitcoin, so a person investing into bitcoin might have to invest into bitcoin more conservatively in the beginning as he is building up at least his emergency funds in the event that he does not have an emergency fund of at least 3 months of his expenses... so maybe in the first year or so, a guy might be buying $50 worth bitcoin and putting $50 into his emergency fund, and so after a year, he has around $2,600 in each... so are his expenses? around $900 per month? then $2,600 would nearly be 3 months worth of expenses.  Perhaps after getting his emergency fund to at least $2,700, then he would thereafter be able to invest $100 per week into bitcoin and just maintain his emergency fund in case he has an emergency, such as loss of income or some health event that causes his expenses to go up unexpectedly.


Once the Emergency fund is established, it may well never have to be used, and surely a guy might also have reserve funds too that are more flexible beyond the funds that are kept in the emergency fund.  A guy is going to be much more empowered, including more able to be more aggressive in his bitcoin investing if he also maintains an emergency fund and perhaps other kinds of back up funds too.


4-10 years or longer is long term.  If you are planning to get in and out of bitcoin in less than 4 years, then you are trading rather than investing, and sometimes it can take a bit of time for guys to recognize and appreciate the power and the benefits to themselves to both develop and to try to reinforce an investing mindset and approach to bitcoin rather than thiniing about bitcoin as if it were a trade and planning to trade it rather than learn about how to get into an investment mindset to be able to allow more likelihood that bitcoin is going to actually empower you rather than allowing you to gamble with one of the best investments (if not the best investment) currently available all across the globe to poor and to rich and to anyone who is willing to invest into it.  Of course, rich folks have advantages based on their having more money to work with, but even though rich people are rich, they don't necessarily appreciate the power of investing into bitcoin, so they way well not take advantage of bitcoin being available to them and to everyone else. 

Poor people are likely to be more empowered by bitcoin, but they still have to figure out and put into practice their various methods they do not end up gambling with what should be an investment a way that they can build wealth and to put themselves at an advantage after really learning how to do it through ongoing, consistent and persistent practices of buying it and guarding what they have bought - even if it might take a while before the BTC stash becomes profitable and even if the BTC stash might shoot up in price in the short term, there still need to be practices of continuing to buy BTC rather than getting lured into selling it before it is really enough.... and each person has to figure out how much is enough?  is it one year worth of expenses, is it 10 years worth of expenses, is it 25 years worth of expenses? or is it something else.  I sense there are ways to likely establish systems in which getting to 10 years worth of expenses and also measuring that BTC value from the 200-WMA may well be enough to get to entry-level fuck you status, yet surely each person needs to figure out both how to evaluate how much is enough for them financially and psychologically if they are planning to stop working and to live of their BTC or if they might feel that they might need to keep accumulating BTC until they establish enough of a financial cushion or perhaps with the passage of time the valuation of BTC may well continue to sufficiently go up to allow the intersection of time and the intersection of how many BTC the guy has to be enough...


New investor to bitcoin do not have to establish their emergency funds, reserve funds and floating funds prior to investing into bitcoin, even though they need to make sure that they have discretionary funds, and they are not using money that they need for expenses... Emergency funds can be built up simultaneously to building up the size of the bitcoin holdings, and surely each person needs to figure out how he is going to want to make sure that he manages his cashflow well and does not make mistakes, since no one is going to save him if he fucks up, whether he invests too little into bitcoin or if he invests too much into bitcoin.

Many of us likely realize that one of the main things for any investor whether newbie, whether rich and/or whether poor is that there is a certain value to make sure that he figures out a way to stay in the game and not get forced into having to sell any of his bitcoin at a time that is not of his own choosing, and so a brand new bitcoin investor might not realize how to balance various aspects of his cashflow and make sure that he does not over do it or underdo it, yet those are skills that most people should be able to figure out with practice and a bit of focus in terms of trying to learn from their experiences and various resources that are available to them without getting distracted into nonsense, dumb ideas and/or shitcoins, gambling and/or trading without first establishing their BTC investment strategies and practices.. and each of us is responsible for our own choices, including if we might choose to make dumb mistakes or mistakes that could have been avoided or at least minimized... yet surely some folks are not going to learn until they make a few mistakes too... and some mistakes are easier to recover from than others.


I would suggest to try to get into the mentality of not investing money that you need 4-10 years or longer, which can cause a certain level of moderation, yet also realizing the importance that there is a bit of locking up of the money into the bitcoin. 

There are some people who might sometimes spend from their bitcoin, yet it seems that any guys who are still in their early accumulations phases that may well take more than a whole cycle, those guys might want to make sure to practice spend and replace so that they are always accumulating bitcoin even if they might come across circumstances that they might want to spend some bitcoin in order to support bitcoin infrastructure.


There is no need to figure out the bitcoin wallet prior to getting started investing in bitcoin, yet of course, any bitcoin that is purchased through third parties such as an exchange is not really your bitcoin until you move it to a private wallet, so it is good to learn about various kinds of private wallets and figure out how to get into the practice of keeping most of your BTC off of exchanges, yet at the same time, you don't need to learn those things right away.. It is probably better to get started first and then figure out the order in which you want to learn things, while at the same time learning that there are risks in keeping your BTC with any third parties, including but not limited to exchanges and/or also getting lured into products that tell you that they will hold your bitcoin and pay you yield.. Newbies have to be careful to avoid those kinds of ways of custodying their BTC and/or getting too greedy trying to earn money with their BTC prior to just building up their BTC stash and figuring out ways to hold it privately and also holding their BTC in ways that they UTXO sizes are not too small. .. so UTXO management can become an issue and a concern, even though it is not something that has to be learned right away and before buying bitcoin.  Of course the more BTC that you buy in the beginning, then the more justifiable it is to make sure that you are not holding it on exchanges, especially if you start out buying several thousand of dollars of BTC or several months worth of your income/expenses worth of bitcoin.

Here in this thread we only know and talk about bitcoin. And I will advise you to only focus on bitcoin. Because I know that what you are referring to as crypto are altcoins/shitcoins, and we don't encourage people to venture into that here. But if you still want to talk about those your crypto you will have to learn it elsewhere but not in this thread. Our discussion here is centered only on bitcoin and nothing else. Now that you have decided to invest in bitcoin, you should have a long term mentality. For you to see some reasonable profit in your investment, you have to keep investing and holding your bitcoin for at least 4 years and above. And there are certain things you need to put in place before starting your investment journey, they are;
Emergency funds, reserve funds, floating funds etc. And you have to have a good source of income. It's good you already know about DCA strategy. And one thing I will tell you is that, don't invest money that you will be needing in one or two years time in bitcoin. Also make sure that you have set up your wallet where you will be holding your bitcoin and make sure nobody has access to the seed phrase. As a newbie feel free to ask questions about bitcoin here anytime you feel lost and need directions. People here will assist you.

Newbies investors have a tendency to get more profit and from there they are busy diversifying their investments before investing. I think it's not their misunderstanding, it may be due to lack of maturity regarding investment. He should be given time to mature in the case of Bitcoin investment and during this period it is recommended to deposit Bitcoins in DCA method. DCA is a reliable investment method for beginners through which he can deposit bitcoins at regular intervals without any extra stress. While he can build up a reasonable Bitcoin holding he can seek to diversify after a particular period of time separating some of the capital invested and profit but DCA should be kept running. If the trend of depositing Bitcoins in the DCA method is ongoing you have the process to build up a decent holding and you can tend to profit by applying any strategy.

But I would suggest following a long term cycle in Bitcoin investment as long term holding can be more effective than short term diversification in the portfolio if you have a reliable source of discretionary income. If you are active and physically fit then long term accumulated like 3-4 cycle DCA can get you a huge bitcoin stack.

Bitcoin is a good asset to invest in, and there are a lot of benefits that come with having a bitcoin, such as cutting off a middleman from scrutinizing your transactions anytime you want to send money to someone anywhere in the world. It also helps to overcome inflation and give you total control over your money. As a newbie, you have chosen the perfect strategy that will help you be consistent in accumulating bitcoin no matter what the price will be, and it will help you to take advantage of the market because you can accumulate bitcoin even though the price is in a bullish or bearish state. I know you are new to this thread, and you don't know how things are done here, but I want you to know that we don't allow the use of crypto in this thread so that we will not be distracted or newbies like you will not go and invest in altcoins thinking that it's good to invest in. Next time, just make use of the world bitcoin if you are referring to bitcoin.

Just to invest in Bitcoin, we don't need to have complete knowledge about Bitcoin, we can start investing only if we know the basics.

Preliminary planning is always very important before starting a new investment. A novice should take firm decision before starting investment, he should not think about profit, his plan should always be long term. If a new investor makes a proper plan and believes in the future potential of Bitcoin and buys Bitcoin for a long period of time, then he can definitely make a profit in the future.

But before you start investing, you must pay attention to your financial management. You need to create a strong source of income.

There are times in our life when our monthly expenses are higher than usual, i.e. during inflation, our expenses will increase due to inflation or extra expenses, at this time, you will reduce the amount you use to buy bitcoins in that particular month. But you have to keep in mind that time so that your investment does not stop at once. You need to continue investing, if your cost is low, you can increase the amount of Bitcoin investment, and if the cost increases, you can reduce the investment amount, but in no way can you stop investing in DCA.

And I think an investor must have a reserve fund and emergency fund before starting investment, so that his investment does not stop in any way.

That is, in any unexpected situation, you can handle that situation with that emergency fund.

Definitely plan DCA long term, if you manage DCA properly we can slowly build our bitcoin stash. A "hodley" or long-term investment attitude is the key to success from DCA.

I respect your decision. You mentioned that having gained a rough understanding of Bitcoin and Crypto, maybe you can start investing with the DCA approach. Because to invest in this method you don't need to know any details about bitcoins only you can start investing with little knowledge and definite source of income. By regularly buying bitcoins you will gain experience with investing and your investment will grow as well.

If you spend a few days here in the thread you posted you will surely understand the details about investing in DCA method. There are constant discussions about the DCA strategy which is making many new investors experienced in their investments which is helping them to prolong their investment journey.

If you want to learn about Dollar Cost Averaging investment method in a short period of time then spending some time visiting this link will help you to increase your knowledge.

https://www.britannica.com/money/dollar-cost-averaging

I have decided to invest in Bitcoin, I know about DCA and DCA's feasibility, and I have gained a rough understanding of Bitcoin and Crypto. But I still don't know much about them. But I decided to start investing in Bitcoin. And in DCA I will continue to invest and slowly learn everything about crypto. Hopefully I can move forward in this way.

We have gained a lot of knowledge about bitcoin investment in this thread, and we now know the strategies to combine together that will allow us to consistently be accumulating bitcoin and also wait for bitcoin dip to happen so that we can buy the dip and also increase the size of our bitcoin investment. For instance, if you want to wait for the bitcoin dip so that you can accumulate some of your bitcoin at a low price, you can divide your bitcoin accumulation money into two equal parts, and you will keep one part for buying the bitcoin dip any time it happens, and you will use the second part to be consistently accumulating bitcoin with the DCA strategy, which will allow you to take advantage of the market and also make you not miss out on bitcoin investment. Investors who only want to accumulate bitcoin in a dip are the ones who will miss out on bitcoin investment because they are not certain if bitcoin will dip to where they will be comfortable accumulating it. This will make them less active in accumulating bitcoin, and the chance of not accumulating a good amount of bitcoin is very high because no one is certain how often the bitcoin dip will happen each year.

I think it makes more sense the way you have explained it. Because often times I have seen and heard new investors that are just starting life and are new to bitcoin investment talks about diversification. Not that they have amassed so much wealth or have spent a reasonable number of years in accumulating bitcoin. But you see them talking about diversification. Of course if an investor who have spent the number of years as you mentioned above and has accumulated enough wealth and bitcoin wants to diversify I don't see anything wrong with that as well. My initial stand was for new investors who are still starting life and hasn't really achieved much in bitcoin and cash deposit who often talks about diversification. I should have mentioned of this in my first post, so that anyone who read it will a clue of class of investors I was making references to. It's my fault I left the post open, without narrowing it down to new investors who are just starting life in bitcoin investment and haven't gotten any wealth prior to investing in bitcoin. I totally understand everything you said and it's makes sense.

These are difficult concepts for many people to wrap our minds around, since you are correct Marvelockg that we are not investing into anything, including bitcoin with an expectations that we might lose or that we will lose everything, even though we should be investing with money that we don't necessarily need and that we are able to completely lose in the event that the investment were to go down or were to go to zero.. So we continuously should consider outside chances that BTC could end up going down and/or going to zero and we must be willing to accept that.

Part of the power of compounding value is that the most that we can lose is 100%, so the compounding effect is way greater on the way up as compared to on the way down. The compounding on the way up is nearly infinite (even though practically it is not exactly infinite though the value can continue to double and double and double and double for a very large quantity of times).  The compounding on the way down (might not even be exactly the right word) is that in total the most that can be lost is 100%, so we are starting with 100%, and so maybe each time that we lose 10% we get closer to zero, yet we might not completely ever run out if we keep losing 10% the number ends up getting really small, even if it might not ever completely go to zero...

On the way up, we could have many many times of continuing to gain 10% and our results could end up going way above 100%, and then we also could experience several periods of greater than 100% returns, and the value compounds in a much more exponential (and difficult to imagine) way on the way up as compared with on the way down, so when we invest into something like bitcoin we can continue to consider that the most that we could lose is 100%, but there are a lot of upside potentials that are not merely fantasies, yet they have historical precedent that includes bitcoin investment thesis rationals that are not getting any weaker today as compared to what they had been in the past, even though some of the slope of the upside likely has become less steep - while at the same time, bitcoin still reasonably has 30,000x potentials for upside that might not play out in the near-term and could even take 50 to 200 years or longer to play out, but those justifications to invest into bitcoin continue to exist, even if we might not understand many of the possible causal forces and even if we might have some difficulties understanding various aspects of the future...

Yet, we can still choose our BTC position size in such a way that gives us a certain level of comfort that we are ready, willing and able to account for both the upside and the downside and to accept the consequences based on how much we choose to ongoingly invest or even to keep inside of bitcoin without retaining ideas that ONLY the upside is possible or that with enough passage of time there is guarantees for up... Members here seem to frame their ideas all the time in terms of these ideas of guarantee, which is not the case.. even though there continue to be a lot of reasons to consider bitcoin to be a strong investment including having a lot of strong Lindy effects, too... which is that a longer a technical thing in bitcoin is in place the more likely it is going to continue to maintain itself and potentially grow with Metcalfe principles and networking effects (as outlined by Trace Mayer).


I don't know if it helps so suggest that invest what you can afford to lose ONLY applies to shitcoins, even though surely bitcoin has stronger fundamentals than shitcoins, so it is possible to actually invest into bitcoin, and I doubt that there are any shitcoins that you really could have confidence investing in them... even though some people do come to conclusions that shitcoins are worthy of investing into.. but seems problematic to consider any shitcoins as 10 year investments rather than something to get into and then to get out of.


4 years seems to be the bare minimum to consider bitcoin as an investment rather than a trade.. and an investor can use 4 years only if they have some specific age or health considerations for not being able to invest longer... ..

To me, it seems that it would be problematic to even consider saving up for a house or to invest into something else to be an investment into bitcoin rather than a trade, even if the timeline might be longer, even though surely there could be ways to consider investing into bitcoin order to be able to leverage the bitcoin investment to start to purchase those various kinds of goods, services and other investments in the future, without necessarily planning to sell all of the bitcoin but instead figuring out ways to balance the bitcoin investment with other consumption and/or investment goals.. so then the bitcoin still ends up providing more options rather than planning to get in and out of it... absent some age and/or health considerations.. .. and of course, people are free to establish whatever their criteria might be in terms of thinking of bitcoin as an investment and reasons to sell it that might be goal based and may or may not account for timelines, which those ways of thinking about their bitcoin might not exactly fit investment frameworks rather than trading ideas.


Learning along the way is good in terms of both learning about bitcoin as an investment, and also we cannot necessarily assume that we are not learning about ourselves over the years in terms of our cashflow management and our psychology and various other parts of the 9 individual factors, besides just how bitcoin compares with other possible investments.


Even though you are not technically incorrect, I don't really like your suggesting that we have to know our discretionary income first before investing into bitcoin and then to cause an impression that it should be really difficult to figure out whether or not we have a discretionary income. 

Sure, many normies suck when it comes to various aspects of cashflow management, even though an overwhelming majority of normies should have some general ideas about their discretionary income, so they would be able to get started buying bitcoin nearly right away with their general ideas about whether or not they have an extra $100 to buy bitcoin this week (and to keep that invested into bitcoin for 4-10 years or more).  Of course, the more aggressive that any of us is going to be with our bitcoin investment, then the more detail-oriented we are going to need to be in managing our cashflows and making sure that we don't make mistakes and perhaps that we have various cushions in case we make some mistakes.  We can learn a lot of those skills as we go, and likely we are going to need to learn those various kinds of skills as we go especially the more that we invest into bitcoin and potentially the more our bitcoin investment portfolio grows in value then we are going to need more skills to manage it and to make sure that we don't lose it or sell it too soon and/or to make sure that we are feeling financially and psychologically able to manage it.  We can learn matters (and probably we need to learn these matters) along the way rather than expecting that we need to know any of this in advance beyond just having some ballpark idea about whether we have an additional $100 that we are able to buy bitcoin with this week without expecting to get it out for 4-10 years or longer.



Emergency funds (and other forms of back up funds and honing various aspects of cash flow management) does not need to be established prior to getting started beyond merely having some basic ideas about whether the newbie BTC investor has extra money to buy BTC and to hold for 4-10 years or longer or not.


Good point.  Hopefully no one is fucking around with shitcoins or talking about shitcoins in this thread, and if there were some intention to talk about bitcoin, then the word bitcoin should have had been used rather than using a vague, misleading and perhaps disingenuine word such as cryptocurrency.

Good thing that we have to ignore what others think about their investment as it is a personal decision. In every discussion I've heard about Bitcoin investment from my peers, I have heard that it is a risky asset and not profitable. Fuck what they think, if I have been keeping what they say in mind I wouldn't have started my investment and reach to this level.

Sure for a long-term benefit, Bitcoin is the best. People with delusions of high risk - high reward will perish because of knowledge. There is no easy way in and out of Bitcoin investment. If we want to be successful in it while investing we should focus and learn. Grasp every knowledge we can get, because it will be useful someday along our investment.

One thing I have noticed is that many are ignorant of quality information and helpful resources. Probably they may find out in the future that does discussion and conversation they had which they did not adapt would have been helpful.

You're absolutely right here Jay. I have tried overlooking this but I need to air my opinion. Diversifying into other assets after accumulating a good amount of Bitcoin can help reduce risk rather than hurt our portfolio. In a situation where Bitcoin experiences a drop in rice, the other asset or business may perform better. having another asset to look up to will help create a balance. That asset may perform better during the market which will serve as the source to turn to instead of tapping into our Bitcoin.

I like how you added knowledge to your point because through knowledge one will know that the time of dips is not the time to panic rather a time to continuously buy more Bitcoin because then it is cheaper to get. Knowledge will enable one understand that the price will always recover when the time is right. It is those who lack experience that often panic when price is going down because they failed to realize that the price does not go in one direction forever, rather is also retraces to represent the general behaviors of the market participants. So, good knowledge of the market dynamics, price cycle, corrections and consolidation and the phases of the market and others are very important for the sustainability of the investment.

It is also a thing of knowledge for one to be able to know how to many the finances to be able to set aside the emergency funds as well as the money for daily needs if the investment is to be protected from sudden sell off. I learnt a lot here and that has changed my investment approach significantly.

Lots of people do make this kind of mistake. When making investments, we are supposed to always have emergency funds, we shouldn’t invest everything we have, we should have money that will be used for daily activities and some amount that will serve as emergency funds. In case anything happens, you will be able to take from that to solve the problem without even touching your investment, but if you invest everything you have, you will end up selling when you are in need of money. Investing everything you have is not a sign that you are really serious with your investment, if you invest everything you have, you might end up selling most of it, and it might be at a loss.