Topic: Buy the DIP, and HODL! - page 312. (Read 108696 times)

Examples that make people equally successful in becoming Bitcoin investors. The difference that cannot be the same in practice lies in the situation of being patient.
You can create an experiment to test that achieving success as a Bitcoin investor will be the same as I said before.

Because Bitcoin investment is not done under compelling circumstances. There are basic needs that must be prioritized apart from investment needs. Therefore, whoever is consistent with their financial management will have maximum results.

while it is not totally good to magnify the risk associated with bitcoin investment most especially as it regards individuals intending to buy and hold, it's also necessary that they get to know the possible risk involved so they can better protect themselves against any form of attacks that could come there way and also know the sources and means of the risk and attack.

While anyone intend holding, he has to be aware that his wallet could be hacked and all his holding taken away, he also has to be aware that the volatile nature of Bitcoin entails that the price can come down momentarily and that better enable him to manage whatever reality that comes while holding. I guess the idea on hyping the risk involved in buying and holding bitcoin is for the good of the person buying it so he could count all the cost and hold on appropriately.

Maybe most of them will say bitcoin is not real, we can't touch it we can't see it and it's probably money game

Basically iam salesman but iam full time in crypto. one of my service is facilitated people who want cash out crypto into fiat below exchange rate.
At first i accumulating my crypto from bounty program and I usually pay my bill with credit, maybe i spend alot thats why

That is the main goal of a person's income, the extra money after excluding household expenses should be invested in Bitcoin. If you don't accumulate wealth for the future, you may find yourself in dire straits in old age. I think that if Bitcoin can be invested in the present, this investment can be tripled in future generations to make my life comfortable. This could be the main tool to protect against Bitcoin shortages. So it is better to invest in Bitcoin monthly or weekly by following the DCA method.

Some details of circumstances are compulsory but I will add one more point that is:
Aggressiveness should be there but not much which affect on the personal life. Let's think if anyone is aggressive and want to invest $100 in Bitcoin every week but he is not caring about his personal life and separating $100 per week. He is not taking care physically himself. So this will not good. Separate that amount to invest which is really separate. In aggressiveness never forget you have your life and your family. Aggressive on that amount which is separate you have.

Yep.  Those are all fair points, and the longer that we maneuver bitcoin and even experiment in various ways or spend time talking to others about bitcoin, the more and more likely that we could be used as teaching resources in the future, so even if we might not be in the mood to teach, we might feel some responsibility to at least give some guidelines to folks about the various characteristics of bitcoin and even to relay some concreteness in terms of our own having had experienced some of the bitcoin phases in personal ways in which we either directly owned some bitcoin and/or maybe we were actively engaging with aspects of managing our bitcoin portfolio, hopefully in an accumulation and mostly maintenance way, rathe than engaging in trading and those kinds of distractions that are not likely as beneficial as basic skills and viewpoints that future newbie bitcoiners are going to likely need to be able to navigate.

Another thing is that you may be right about the "pre-ETF" bitcoin phases as being a comparison point to the "post ETF" bitcoin phases, so those of us who are accumulating, maintaining and/or mostly holding Bitcoin during this still "pre-ETF" bitcoin phase are going to be part of bitcoin's history that front run a lot of institutions, rich folks and many governments that are going to come to bitcoin at some point later down the road, whether it is soon after the ETF or maybe it is a bit later down the road.. perhaps another cycle or two or even (4-10 years later).

Well, that's quite appropriate because without being based on it, we will be teachers for them in the future. I mean they will ask us how you survived the bitcoin investment you made in the previous years. Of course, many of those who often neglect to learn about Bitcoin will regret it at some point in the future, many have even expressed regret for selling their BTC holdings early.

Bitcoin is quite a valuable future asset and if they don't have a few Bitcoin in their portfolio they will definitely regret it. They continue to think the price can fall further to be able to accumulate more btc but that will be difficult to happen if the spot bitcoin etf is approved. I think we are on a good ship and they are on the coastline and they will swim to get on board at some point.

Frequently people cannot help themselves from comparing, and maybe some of that can be healthy... but yeah, there needs to be some of your own personal actions that may well have good chances of surpassing a lot of peers who do not seem to have much if any clue about bitcoin, even though there are a lot of folks who have heard the word bitcoin and they think that they know what it means, but they likely do not, so even if you are not able to invest a lot of money, when they finanlly figure out bitcoin 4-10 years later, you are going to have a pretty good head start on them, and they will wonder how you got so many bitcoin (or should I say satoshis) and maybe you will have 0.21 bitcoin (or 21 million satoshis) and they are struggling to get 1 million satoshis.

This is under ideal situation which rarely happens. Everyone have his calling, his approach and indeed his uniqueness. It is practically impossible to see two people start off with the same amount of Bitcoin, same day of buy and hold in the same manner. Most likely one would have sold while one would have added more Bitcoin. These things are personal and the moment we try to copy others or become envious of them, then we are set to sacrifice our peace of mind.

It has been abundantly stressed that we should start with such amount that will not make us to panic, an amount we can comfortably set aside without it affecting our basic needs. This is the only way to HODL Bitcoin. Many people who ignore this simple rule have to sell their Bitcoin when they did not plan to just to settle personal needs.

Another thing I consider dangerous which many little investors do is to be jealous of those who started when the price was far cheaper or those who have big capital to invest into Bitcoin. The amount does not matter so long as we are intentional and focused on the bigger picture which is continuously accumulating Bitcoin and holding it for several year, it will surely get bigger and better.

Well if you started in 2017, and then maybe you started with only $10 per week, and then every year you increased it by $10 or $15 per week, then you would be getting close to $100 per week. 

No one can ever tell anyone how aggressive that they should be or maybe if they are being too aggressive without having some details of the circumstances, and even with details, the person should be in the best position to figure out these kinds of matters, even if sometimes they might share ideas with others (for example in this thread) to figure out the extent to which they might be able to think about their matter of discretionary income or even how much BTC to try to buy per week in different kinds of ways.

Yes, it must be in us as investors where consistency and persistence are very important to invest in bitcoin for a long time especially with the amount that is input into bitcoin is not relatively large enough, if we are as government employees then $70 will be very capable for them but with persistence he can do it for 8 years so he deserves success by investing in bitcoin and being able to buy his future dream items.

Actually we can do the same thing as this person, how do we manage the aggressive level with the higher the greater the portfolio that will be owned in the long run, I am sure as an employee of the government job it will be enough with the cash flow owned so that some are willing to be spent on bitcoin, we must also have the same thoughts when there is side income then it must be completely diverted to bitcoin, if the monthly salary still covers life for a month.

I myself want an aggressive target of $100 per week for bitcoin.

People's paths to success are different and will never be the same, but success in becoming a Bitcoin investor if done using the same methods and methods, I am sure will not be different. He has a car, you can also get a car. He has a house from his Bitcoin investment, you can also own a house by choosing to become a Bitcoin investor.

If he and you start at the same time as time and Bitcoin amount and holding rate, I think his and your success rate will be the same.
It's that simple, I found the answer during my time with Bitcoin.

Whoops.

I made the mistake of not specifying in regards to shitcoins, so we should not even have had gone there... to be referring to someone who is really retarded, and I was trying to suggest a kind of normal investment choice that someone might have various investments in his investment portfolio that includes stocks, property, bonds, commodities and cash/cash equivalents, and no I was not suggesting shitcoins, because shitcoins would be 10% or less the size of the bitcoin investment.  So yeah, as soon as you bring shitcoins into the mix as if they were a normal thing to be tempted about, it shows that we are considering the starting points from different places in order to figure out what might be a practical and/or realistic posture for someone getting into bitcoin and maybe maintaining his/her bitcoin investment through the years.

So if the newbie bitcoiner is starting out with an investment portfolio of around $100k , then maybe he could be considering anywhere between 1% to 25% as his starting off point in terms of an allocation into bitcoin, and if he is more whimpy then he would go with 1% and if he is more aggressive he would go with 25%, so I was choosing somewhere in the middle, which also could have had been 12.5%, which also seems to be a bit more aggressive than any average skeptical bitcoin newbie might be.. .

So, if we end up flipping the script and talking about shitcoins being 90%, we are getting into gambling and way off this topic, and we may as well just either denigrate those kinds of folks or if we want to be more friendly, to suggest that they have those kinds of gambling/trading topics in some other thread.. because it is no longer really seriously about bitcoin... or the possible issues that we might be having with this thread both in terms of longer term bitcoin investing, but also some of the dilemmas that guys likely have when they are first establishing a bitcoin position and then ongoingly accumulating during ongoing and inevitable bitcoin volatility.


You raise a lot of decent points regarding the various ways to consider risk, and surely position size can be a very decent way of dealing with a lot of the aspects of the risks that you mentioned, and surely one can invest into bitcoin and to learn as he goes, and maybe if he starts out investing $100 per week and studying bitcoin, and maybe during that process he realizes that after 10 weeks he has invested around $1k, and maybe he needs to learn about and put private holdings into practice, which would also consider figuring out how much security is necessary and what are the various ways to hold his keys.

There can be a lot of responsibilities in becoming your own bank, and a lot of power too, but also some potential challenges in learning how to do each of these things, including that normies might not have a lot of time that they can spend studying and figuring out various aspects of bitcoin, so even after 10 weeks to 26 weeks (half a year), there still might be a lot of ways that a person still needs to continue to learn and put matters into practice - especially if a decent portion of value might need to go into private storage rather than being held by third parties.


These are good points because many people miscalculate their ability to live off of bitcoin (or even crypto and/or trading), and having a job (or cashflow) is very powerful in investing, and maybe if you have a cashflow and you even aggressively go way beyond the normal 10%-ish area of saving investing and you are able to get to 30% or 40% or even 50% invested into bitcoin, then you may well be able to reach one years salary expenses in just a few years, and surely after several years, you could reach to several years, and if your investment performs fairly well, you might be able to get to 20x to 30x your salary in 10-15 years, which would put you into fuck you status where you are able to quit your job, live off of your investments, and you would not need to dip into the principle, you would be living off the income from the investment...

and sure, I might be painting a rosy picture in regards to how long it might take to get to a point of being able to seriously and meaningfully pull the fuck you lever, and surely anyone who is pulling the fuck you lever too soon, is likely failing/refusing to consider and appreciate how much their investment portfolio needs to be worth before you would be able to sustainably live off of it without draining the principle.. which is also another problem with trading in that people who have to live off the income of their trading, is likely putting themselves in a position where they are never really able to get the benefits of compounding value because they are frequently and consistently needing to withdraw value from their funds that they consider to be "earnings and/or profits" but withdrawing those profits/earnings too quickly never allow them to compound and that person may never be able to become rich with such wheel spinning and likely inabilities to grow his investment portfolio to get to a size that is high enough to allow his withdrawals to be sustainable and even the needs for growth to be built in to the amounts that can be withdrawn to be increasing with the passage of time rather than either staying stagnant or reducing.


Actually, that story of your friend sounds very practical cryptoWODL.  There is a kind of consistency, persistence and ongoing learning, with built in aggressiveness, and sure there are other ways of building up aggressiveness, but if we start out with a small amount, we can get used to it, and then we might have a whole year to plan ahead in regards to how we are going to deal with an increased amount going into bitcoin, which might be cutting of expenses or increases in income.

I would then suggest that you shouldn't let your wife hold your private keys for you. OR not to let her know that you do HODL Bitcoin. I'm merely joking, or probably half-joking. Haha.

Another suggestion you could do if you're already married is, probably delay having kids? Less expenses =More savings. What's more two years of waiting while you're preparing your finances for your future.

There is no specific amount required to invest in Bitcoin. Nowhere is it written that investing in Bitcoin requires a huge amount of money to be invested. Anyone can start investing in Bitcoin with any amount of money.
There are also people who start investing in Bitcoin with a very small amount of money in the beginning and gradually increase it later.

I had a friend who knew about Bitcoin a long time ago and had a very good understanding of Bitcoin and is now a successful investor. When I asked him the reason behind his investment success, he told me that the first day he invested in Bitcoin, he started investing with just $27.He was then working in a government job and withdrawing money from there to invest in bitcoins.He used to work in the government and got a monthly salary of one hundred and fifty thousand taka, ie 1500 dollars. For the first year, he invested $70 per month.The following year he increased that to $100 and he increased his investment by $30 per month every year. Thus he invested in Bitcoin for 8 years.

Currently he has accumulated houses, cars and land with his Bitcoin investments. After seeing his success I now regret why I didn't start investing Bitcoin with him.
But I am following his investment approach and investing in Bitcoin and I hope to continue to do so in the future.

I don't see anything wrong if Bitcoin investors start investing in Bitcoin with a small amount of money and expect big from that investment. If you don't have hope in investing then how can you dream of success even that day. If you don't have a lot of money, you have to be content with what you have and hope for it. 

In the field of investment, it is not said anywhere that an investor has to start investing with a huge amount of money rather he can start his investment with minimum amount of money according to everyone's ability. It's not like I started investing with a relatively small amount of money so my investment will stay the same for a long time. 

You can increase your investment in Bitcoin and sell it whenever you want, there is no obligation. If an investor thinks that he starts investing with a small amount of money and later sells his investment at will, and when he continues to invest for a long time, his investment will be sufficient and he must expect good things from that substantial investment.
You may believe in the investment principle that you have to invest a lot in the beginning and then you don't increase your investment later. 

It is difficult to accumulate a lot of money at once, when you have cash you will need it a lot and you can spend your money when you need it but if you invest in Bitcoin you will not spend that money. So it is always a better decision for an investor to invest in Bitcoin when the amount of money is available rather than accumulating cash over a long period of time.

Perhaps you were inspired by CZ who quit his job, sold his house to invest in Bitcoin. Remember he advised that getting another job would not have been difficult for him. So, I guess you figured out how to survive without a job and still hold Bitcoin.

So tell me, since you were all in in crypto, how were you paying your bills? Were you selling part of your portfolio to feed and pay bills? What method did you adopt in accumulating your assets? I am asking as the time the price of Bitcoin was not up to the $45k where you sold, meaning you were selling in parts to feed and also pay your bills.

Your approach is not perfect for me because I don't believe in selling all my Bitcoin holding at once. You will definitely lose a good portion of the profits you would have made. Imagine you sold at $45k yet the price went higher to $69k. If I am not mistaken, most of the funds you realized from selling your Bitcoin have been channeled to shitcoins or other things.

The best would have been to sustain your  job and invest in Bitcoin gradually and not with all you've got only to sell them all off at once.

To be specific,  what are the risk factors of Bitcoin? Losing your money to hacks and mistakes or Bitcoin price dropping to zero? I have heard so much about the risk of Bitcoin, so much that we need to put it into context so others will understand and take caution. Unfortunately, a lot of people singing about the risk of Bitcoin cannot specifically say what the risks are and the highest they will say is that Bitcoin is volatile and therefore risky. Do we really have to worry about Bitcoin being volatile when we are considering how to buy and HODL?

I know that everything in life comes with some form of risk and Bitcoin is not exempted but magnifying the risk of Bitcoin in a discussion that focuses on holding for long is inappropriate because Bitcoin so far seem like a safer investment for a long time view. Most of the risk associated with Bitcoin affect those looking for quick profits like many people already stated here.

As an intending investor in bitcoin, you would considered the risk factor before having the mindset of investing in bitcoin, bitcoin is a very sensitive investment that needs careful minds to scrutinize before the actual event, some people mistake bitcoin for another stuff that's why most people are not getting want they want in bitcoin, when you invest, just know that there are two things ahead either to withdraw or to continue which I know that know one will stop you from doing that, this is the reason why I always preach about individuals investing with what they have, don't borrow to entice anyone here or to make people believe that you can do it, just work with what you can afford to control and hold if you can.

Of curse this wasn't want I meant but as reply to what the previous poster said, and that is to say that bitcoin isn't a quick get rich scheme where one would invest and double their money instantly. We all know that bitcoin investment needs patient and for that anyone who is engaging themselves into bitcoin investment must choose the plans to invest on, be it short term or long term but must be focused and remain patient for each every investment to get into maturity.

And any digital investment that has a total of $100k as you said and $10k in bitcoin isn't secure investment maybe if such person is having $90k into altcoin shows that there is every likelihood for such investment to collapse since altcoin can't be trusted and who knows if those coin are shitcoin whereby they rise to some certain point falls back without yielding any further interest, or profits for the period of holding, all less if such investment & bitcoin carrying about 90 percent and the rest 10 percent for other altcoin investment then we can say is a secure investment.