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Topic: Buy the DIP, and HODL! - page 321. (Read 123703 times)

sr. member
Activity: 686
Merit: 286
February 04, 2024, 10:10:12 AM
Adopting the DCA method from pay to bitcoin is definitely an important strategy. In any case, it is better to deposit assets in Bitcoin using the DCA method, because this concept is certainly realistic to build in the future. Individuals who adopt the DCA strategy will surely succeed by adopting the best strategy for the present. If someone wants to achieve success in cryptocurrency, then he must accumulate Bitcoin assets.

Dollar Cost Averaging (DCA) Investing in this method not only requires a job salary but an investor can invest in this method by earning money in any way. Like if I do business without job and earn money from business but still I can invest in this way. There are many students who are doing tuition along with education and they earn money from tuition and invest that money.  

DCA investment method is a great opportunity for the investor because in this method the investor gets an opportunity to invest in any way and anytime very easily. A working man a businessman a student a day laborer can now invest in DCA system based on his income.

A day laborer whose daily income is $5 to $10, assuming his daily expenses are $4 to $5 and has about $5 left over each day. Out of these five dollars, two dollars may be needed by the person and the remaining three dollars may be invested by the person.
It's not like you have to be overeducated to invest or have a job to invest, no matter what profession you are in you just need some understanding of investing to invest. You can invest from any profession if you have some idea.

-snip-
It's really important for beginners to fully understand bitcoin before they start investing in it. They should know what they want to achieve and the strategies that go along with the type of investment they want to make. Also, it's important to know that bitcoin is not something you can make quick money from so it's better to have realistic expectations.
I agree that it's not always best to only buy bitcoin when the price is low. Instead it's important to be financially ready to buy whenever you can no matter what the market is doing.
No need, I don't think it's mandatory. You don't have to be an expert and have a technical understanding of bitcoin to be able to invest in it, but you should understand how the market works and how bitcoin has value. What you need is how to buy, how to sell, a buying strategy and when to sell and how to manage your assets. The technical understanding you need is analysis, not something other technical like networking, development, mining, etc.
I agree with you 100%, I don't need to have a high degree to invest in Bitcoin but just have a little understanding of how to invest and other things about investing. In the case of investment, it is not written anywhere that only educated people can invest, investment is perfect for those who have a basic understanding of investment. And what I think is that an investor does not need to have a self-sufficient idea about investing, if he starts investing with a little idea of investing, he will definitely learn more about investing as he invests. If the investor knows that he has to risk money, he has to invest at the right time and he has to be patient enough and he has to plan properly in holding his investment for a certain period of time. If the investor is aware of these things, then that investor is perfect for investment.  

Fear is a very bad thing for our investment because one who has fear in him will not have the courage to invest even if he knows about investment. We have to keep fear at bay and conquer fear all the time.

As time goes by, you can learn technical things that support your further knowledge about bitcoin. But you don't have to be an expert to invest, that's the point. Having a budget, establishing a plan, considering risks, managing assets, and self-control are important to get started, but don't complicate things unnecessarily.
Starting now will not be a big hurdle for an investor in investing. When there was no DCA investment strategy, investors were a bit late to start because at that time they were more focused on saving money. But since investors know about DCA strategy, now they start investing with the amount of money they have initially. It is now very easy for investors to start investing now, rather than saving money and investing at all, when they feel it right to immediately invest the amount of money they have in Bitcoin.  

For those who are new investors, I want to say that you have nothing to fear, if you think it is difficult before investing, then I will tell you to start investing and see how easy it is to invest. We will not make this simple thing difficult at all because if we make this simple thing difficult then it will be much more difficult for us to start investing.
hero member
Activity: 2338
Merit: 737
February 04, 2024, 10:06:54 AM
It's really important for beginners to fully understand bitcoin before they start investing in it. They should know what they want to achieve and the strategies that go along with the type of investment they want to make. Also, it's important to know that bitcoin is not something you can make quick money from so it's better to have realistic expectations.
The realistic expectation is to be able to understand Bitcoin thoroughly and not expect too much in a short time if they are still very beginners in Bitcoin. Because people who have believed in Bitcoin and have also gained a lot of profit and success through Bitcoin are people who have dedicated their time and capital into Bitcoin. And it certainly doesn't last long, so it's important for beginners not to think about getting rich quick when they invest in Bitcoin or when they start buying Bitcoin on their own terms.

Quote
I agree that it's not always best to only buy bitcoin when the price is low. Instead it's important to be financially ready to buy whenever you can no matter what the market is doing.
This seems a bit ambiguous because what I have done and seen so far is about strategies for taking advantage of falling price conditions. So buying at a low price is actually a good option, although not the only best option because it must also be supported by more mature financial preparedness. But you can also see that some people who have bought at the highest price with a certain strategy that they have applied also have to use more time to recover if they don't want to sustain losses from what they bought before.
legendary
Activity: 2660
Merit: 1141
February 04, 2024, 09:06:13 AM
-snip-
It's really important for beginners to fully understand bitcoin before they start investing in it. They should know what they want to achieve and the strategies that go along with the type of investment they want to make. Also, it's important to know that bitcoin is not something you can make quick money from so it's better to have realistic expectations.
I agree that it's not always best to only buy bitcoin when the price is low. Instead it's important to be financially ready to buy whenever you can no matter what the market is doing.
No need, I don't think it's mandatory. You don't have to be an expert and have a technical understanding of bitcoin to be able to invest in it, but you should understand how the market works and how bitcoin has value. What you need is how to buy, how to sell, a buying strategy and when to sell and how to manage your assets. The technical understanding you need is analysis, not something other technical like networking, development, mining, etc.

As time goes by, you can learn technical things that support your further knowledge about bitcoin. But you don't have to be an expert to invest, that's the point. Having a budget, establishing a plan, considering risks, managing assets, and self-control are important to get started, but don't complicate things unnecessarily.
sr. member
Activity: 854
Merit: 364
I ❤️Bitcoin
February 04, 2024, 09:05:49 AM
Bitcoin investment and hodling is for all both the knowledgeable, semi knowledgeable and those who are not very knowledgeable.

Bitcoin is for all, but not everyone is permitted to engage on doing what is nastic that might caused him the loss of assets when he's not sure of what he's doing, many of the people you discover today making complaints on loss of assets due to some reason were part of those found under this category, it is very simple, if you must use bitcoin, then learn to understand how.
Of course, I agree with you that Bitcoin is indeed one of the best things to invest in because it has the ability to return high profit margins. But here I agree with your opponion that some creation is necessary for investment. also every budy doesn't even have permission for this thing because he doesn't know what I am doing or what I need to get profit. So so i think that Such people should not be encouraged to invest in Bitcoin, but should emphasize on learning because Bitcoin is not a betting game that should leave you in the hands of luck. Although this is not the case, Bitcoin has a proper use case for which you will have to act within a complete strategy.


So it's meant to say that investment can give you profit with a little knowledge, but not so much that you don't know what to do or not. Rather, this knowledge is enough so that you don't lose your assets.
sr. member
Activity: 434
Merit: 253
February 04, 2024, 07:17:39 AM
I think bitcoin information is a continuous process but the major one to start with is the basic knowledge and understanding of bitcoin, before a beginner invest in bitcoin he should know what he want and how to get it, there are many strategy for different investors it all depends on the category such investor falls into, there are newbies that has sufficient amount both for investment and emergency funds, I think this people should also know that bitcoin is not a short term investment so that their expectations won't be cut off.

Buy on dips should not always be the case, why not concentrate in buying when you are ready, must it be on dips, people should know that bitcoin is an asset no matter how dip it goes, it has never stop giving people hope of shifting to positive position, I think everytime is an opportunity in bitcoin that's why continues accumulation is the best irrespective of the price any day any time.
It's really important for beginners to fully understand bitcoin before they start investing in it. They should know what they want to achieve and the strategies that go along with the type of investment they want to make. Also, it's important to know that bitcoin is not something you can make quick money from so it's better to have realistic expectations.
I agree that it's not always best to only buy bitcoin when the price is low. Instead it's important to be financially ready to buy whenever you can no matter what the market is doing.
I disagree with you and I have my reasons. Beginners do not need to know everything about Bitcoin to be able to invest and make progress in it. Bitcoin investing, especially the buy and hold that we are discussing here simply require beginners to know how to buy, where to buy, how to store and protect their Bitcoin and they are good to continue their Bitcoin investment. These are no complex knowledge but something anyone who can operate a mobile phone can easily do.

I want to use myself as example, my knowledge of Bitcoin is highly limited but I'm already taking my investment in Bitcoin seriously and making progress already. As I'm also investing, I'm learning in the process and based on recently developments, I have learnt about the mempool, transaction size, BTC acceleration and many things I never knew before. Assuming I waited to learn all these before starting, maybe I would have still be copying notes without taking actions. Now that I learnt these new things because of the high fees, my understanding is better because the knowledge was need-driven.

I will encourage every newbie to simply seek the basic knowledge first and start their investment according to their financial strength, the full knowledge will come as you progress.
sr. member
Activity: 322
Merit: 260
Catalog Websites
February 04, 2024, 06:30:46 AM
I think bitcoin information is a continuous process but the major one to start with is the basic knowledge and understanding of bitcoin, before a beginner invest in bitcoin he should know what he want and how to get it, there are many strategy for different investors it all depends on the category such investor falls into, there are newbies that has sufficient amount both for investment and emergency funds, I think this people should also know that bitcoin is not a short term investment so that their expectations won't be cut off.

Buy on dips should not always be the case, why not concentrate in buying when you are ready, must it be on dips, people should know that bitcoin is an asset no matter how dip it goes, it has never stop giving people hope of shifting to positive position, I think everytime is an opportunity in bitcoin that's why continues accumulation is the best irrespective of the price any day any time.
It's really important for beginners to fully understand bitcoin before they start investing in it. They should know what they want to achieve and the strategies that go along with the type of investment they want to make. Also, it's important to know that bitcoin is not something you can make quick money from so it's better to have realistic expectations.
I agree that it's not always best to only buy bitcoin when the price is low. Instead it's important to be financially ready to buy whenever you can no matter what the market is doing.
sr. member
Activity: 434
Merit: 254
DAKE.GG - CASINO AND SLOTS | UP TO 230% BONUS
February 04, 2024, 04:53:34 AM
Sometimes too much in strategy will make beginners confused in carrying out their investments. I believe beginners need a basic foundation to carry out their strategic planning better and achieve the targets they want. The big difference may be in terms of knowledge about Bitcoin, which means beginners may need an approach to see the big cycles that Bitcoin has gone through. Yes, basically beginners can start with the DCA Strategy if they are not able to think about the distribution of funds for several other strategy practices.

Even though investment success is triggered by individual self-confidence, in Bitcoin investment you must be able to know more about Bitcoin and why you are interested in buying and holding it. Sometimes people out there are still quite unfamiliar with Bitcoin and they don't understand enough and this is where an approach is needed for those who are really beginners in investing in Bitcoin.

In essence, we are in the modern era and Bitcoin has the advantage of being a very promising investment for old age. Apart from that, the price of Bitcoin is very fluctuating and use it cold money that is ready to lose. I mean you don't have to worry if the price drops very deeply because you really don't need the money you invest in Bitcoin for other purposes in your life.

Even though many large companies continue to buy Bitcoin, I think there are still many people who don't understand Bitcoin. Maybe because they miss out on information because they live in remote areas or have difficulty accessing the internet. Yes, for those of us who have bought on dips, keep the Bitcoin we have for the long term.

I think bitcoin information is a continuous process but the major one to start with is the basic knowledge and understanding of bitcoin, before a beginner invest in bitcoin he should know what he want and how to get it, there are many strategy for different investors it all depends on the category such investor falls into, there are newbies that has sufficient amount both for investment and emergency funds, I think this people should also know that bitcoin is not a short term investment so that their expectations won't be cut off.

Buy on dips should not always be the case, why not concentrate in buying when you are ready, must it be on dips, people should know that bitcoin is an asset no matter how dip it goes, it has never stop giving people hope of shifting to positive position, I think everytime is an opportunity in bitcoin that's why continues accumulation is the best irrespective of the price any day any time.
sr. member
Activity: 1288
Merit: 231
Hire Bitcointalk Camp. Manager @ r7promotions.com
February 04, 2024, 04:50:25 AM
I actually disagree with you on that because aggressive investment is always not Adviseable because there is every possibility that you will get into trouble on the process, however when we talk about aggressive investment you are actually referring to investing all you have or majority of your capital on Bitcoin which is obviously not an investment advice, although we understand how potential and important investing on Bitcoin is but if you are not mindful you could end up on a tight corner.
This is true, you can’t invest aggressively and expect to end up holding for long term it’s only those who don’t have investment plan that always end up investing aggressively and when you are following some investment analysts which don’t give you clue on how to stay safe in the market then you are likely to regret your decision, one of those who end up saying bitcoin is scam are those who invest all they have expecting it to turn into something big in them next few months which investment don’t work that way, you need to invest what you can afford to live without for long period of time allow the market to do his thing why you focus on other areas of life in other for you to take that big profit.
member
Activity: 113
Merit: 28
February 04, 2024, 04:39:17 AM
No one learns anything from the mother's womb. Circumstances and personal ambitions make him interested in the outside world. No one comes into a profession fully learned, one has to gradually acquire skills. One thing needs to be mentioned here if anyone can buy a fish from the market then understand when will gone and which better.
In exactly the same way how to buying and how to holding about cripto currancy there need not have no special knowledge.Only you have to know which board and what do you have to do. you have to know also how to secured his own wallet.
hero member
Activity: 588
Merit: 466
Hire Bitcointalk Camp. Manager @ r7promotions.com
February 04, 2024, 04:38:05 AM
I expect your first buy to be in lump sum or possibly an aggressive buy in order to have a reasonable amount of bitcoin in your portfolio. Once this is done and the newbie is not satisfied with the level of his portfolio, he should embrace the DCA with all his heart and follow it. There is nothing to be careful about with DCA, as this method was carefully designed to give everyone a soft landing. 
I actually disagree with you on that because aggressive investment is always not Adviseable because there is every possibility that you will get into trouble on the process, however when we talk about aggressive investment you are actually referring to investing all you have or majority of your capital on Bitcoin which is obviously not an investment advice, although we understand how potential and important investing on Bitcoin is but if you are not mindful you could end up on a tight corner.

Perhaps as a newbie who is just starting there Bitcoin journey I think the best way is not even to Lump Sum because he doesn't really no much about Bitcoin yet so the main focus should only to accumulate Bitcoin through DCA method because from there he will be free from some certain risk or missing out buying opportunities and also through the use of DCA he will now get acquainted with the ways of Bitcoin and from there he can now decide if he could utilize the Lump sum method and at the time continue with his normal DCA method.
sr. member
Activity: 378
Merit: 285
February 04, 2024, 02:46:28 AM
As a newbie, it is good to adopt the DCA strategy when accumulating bitcoin. Even though you are a low-salary earner, you can still accumulate bitcoin with the DCA strategy because you will set a day when you will be investing a small amount of your fund in bitcoin when you receive your salary, and you can be buying bitcoin monthly so that it will allow you to take care of your financial needs since you are a low-income earner. The DCA strategy will make you consistent in accumulating bitcoin because you will set a plan for accumulating bitcoin anytime you receive your monthly salary.
Dollar Cost Averaging Method (DCA) is the easiest and recommended strategy for new investors because investing in Dollar Cost Averaging method is a systematic investment strategy. I think these days not only newbies are adopting this method but also many experienced investors and methods especially those who don't have huge amount of money.

The prices of different coins in the cryptocurrency market often deceive newbies with volatility, but newbies can reduce all that risk by investing in the dollar cost averaging method. Here are some steps that beginners should follow to invest in Dollar Cost Averaging method:

Beginners should buy regardless of market conditions. Dollar cost averaging method of investing in any coin or bitcoin requires beginners to buy a small amount of bitcoins every few days or weeks or months. Beginners should properly analyze the market based on their long-term value potential and then buy coin.
It seems that newbies should be more careful about DCA than experienced ones. Because the more knowledgeable the newcomers are in this sector, they will be able to innovate new ideas that will bring more benefit to all.
Some ideas in my mind like:
Education,Set clear goals,Start with the basics,Create a budget,Open an investment account,Diversify your portfolio,Stay informed,Seek professional advice from senior,Monitor and adjust and invest for the long term.
Newbies should embrace the DCA method as if their  life depends on it. It should be their watch word, they shouldn't deviate from it. When you say they should be careful with DCA I don't really understand what you are driving at. As a newbie who is making your first investment in bitcoin, I expect your first buy to be in lump sum or possibly an aggressive buy in order to have a reasonable amount of bitcoin in your portfolio. Once this is done and the newbie is not satisfied with the level of his portfolio, he should embrace the DCA with all his heart and follow it. There is nothing to be careful about with DCA, as this method was carefully designed to give everyone a soft landing.  Also as a newbie you have no business with portfolio diversification, your primary target should be bitcoin. Don't go any any shit coins in the name of diversification and get yourself hurt at the end of the day. I won't deny that there are room for diversification, but this can only come in when you have spent a reasonable amount of years in your crypto journey and have better understanding of the market, but as a newbie this is not for you.
member
Activity: 113
Merit: 28
February 04, 2024, 01:28:50 AM
As a newbie, it is good to adopt the DCA strategy when accumulating bitcoin. Even though you are a low-salary earner, you can still accumulate bitcoin with the DCA strategy because you will set a day when you will be investing a small amount of your fund in bitcoin when you receive your salary, and you can be buying bitcoin monthly so that it will allow you to take care of your financial needs since you are a low-income earner. The DCA strategy will make you consistent in accumulating bitcoin because you will set a plan for accumulating bitcoin anytime you receive your monthly salary.
I think these days not only newbies are adopting this method but also many experienced investors and methods especially those who don't have huge amount of money.

The prices of different coins in the cryptocurrency market often deceive newbies with volatility, but newbies can reduce all that risk by investing in the dollar cost averaging method. Here are some steps that beginners should follow to invest in Dollar Cost Averaging method:

Beginners should buy regardless of market conditions. Dollar cost averaging method of investing in any coin or bitcoin requires beginners to buy a small amount of bitcoins every few days or weeks or months. Beginners should properly analyze the market based on their long-term value potential and then buy coin.
It seems that newbies should be more careful about DCA than experienced ones. Because the more knowledge the newcomers are in this sector they will be able to innovate new ideas that will bring more benefit to all.
sr. member
Activity: 406
Merit: 371
February 04, 2024, 12:27:19 AM
As a newbie, it is good to adopt the DCA strategy when accumulating bitcoin. Even though you are a low-salary earner, you can still accumulate bitcoin with the DCA strategy because you will set a day when you will be investing a small amount of your fund in bitcoin when you receive your salary, and you can be buying bitcoin monthly so that it will allow you to take care of your financial needs since you are a low-income earner. The DCA strategy will make you consistent in accumulating bitcoin because you will set a plan for accumulating bitcoin anytime you receive your monthly salary.
Dollar Cost Averaging Method (DCA) is the easiest and recommended strategy for new investors because investing in Dollar Cost Averaging method is a systematic investment strategy. I think these days not only newbies are adopting this method but also many experienced investors and methods especially those who don't have huge amount of money.

The prices of different coins in the cryptocurrency market often deceive newbies with volatility, but newbies can reduce all that risk by investing in the dollar cost averaging method. Here are some steps that beginners should follow to invest in Dollar Cost Averaging method:

Beginners should buy regardless of market conditions. Dollar cost averaging method of investing in any coin or bitcoin requires beginners to buy a small amount of bitcoins every few days or weeks or months. Beginners should properly analyze the market based on their long-term value potential and then buy coin.
full member
Activity: 476
Merit: 141
February 04, 2024, 12:13:11 AM

Sometimes too much in strategy will make beginners confused in carrying out their investments. I believe beginners need a basic foundation to carry out their strategic planning better and achieve the targets they want. The big difference may be in terms of knowledge about Bitcoin, which means beginners may need an approach to see the big cycles that Bitcoin has gone through. Yes, basically beginners can start with the DCA Strategy if they are not able to think about the distribution of funds for several other strategy practices.


IMO opinion. DCA would continue to be the best strategy for beginners because it does not require much explanation to understand, nor does it require any experience to be successful; all I have to do is divide my allocated amount for investment into parts and set an investment interval that works for me.
When I first started utilizing DCA, I didn't even have a consistent source of income. What I used to do was accumulate my money throughout the month and then assign some amount to DCA. I'd set the interval so that before that amount would be exhausted I would have gotten new income to invest again.
DCA, Its stress free, its comfortable , its every beginners choice.
As a newbie, it is good to adopt the DCA strategy when accumulating bitcoin. Even though you are a low-salary earner, you can still accumulate bitcoin with the DCA strategy because you will set a day when you will be investing a small amount of your fund in bitcoin when you receive your salary, and you can be buying bitcoin monthly so that it will allow you to take care of your financial needs since you are a low-income earner. The DCA strategy will make you consistent in accumulating bitcoin because you will set a plan for accumulating bitcoin anytime you receive your monthly salary.

Adopting the DCA method from pay to bitcoin is definitely an important strategy. In any case, it is better to deposit assets in Bitcoin using the DCA method, because this concept is certainly realistic to build in the future. Individuals who adopt the DCA strategy will surely succeed by adopting the best strategy for the present. If someone wants to achieve success in cryptocurrency, then he must accumulate Bitcoin assets.
sr. member
Activity: 490
Merit: 294
February 03, 2024, 10:57:46 PM
Sometimes too much in strategy will make beginners confused in carrying out their investments. I believe beginners need a basic foundation to carry out their strategic planning better and achieve the targets they want. The big difference may be in terms of knowledge about Bitcoin, which means beginners may need an approach to see the big cycles that Bitcoin has gone through. Yes, basically beginners can start with the DCA Strategy if they are not able to think about the distribution of funds for several other strategy practices.

Even though investment success is triggered by individual self-confidence, in Bitcoin investment you must be able to know more about Bitcoin and why you are interested in buying and holding it. Sometimes people out there are still quite unfamiliar with Bitcoin and they don't understand enough and this is where an approach is needed for those who are really beginners in investing in Bitcoin.

In essence, we are in the modern era and Bitcoin has the advantage of being a very promising investment for old age. Apart from that, the price of Bitcoin is very fluctuating and use it cold money that is ready to lose. I mean you don't have to worry if the price drops very deeply because you really don't need the money you invest in Bitcoin for other purposes in your life.

Even though many large companies continue to buy Bitcoin, I think there are still many people who don't understand Bitcoin. Maybe because they miss out on information because they live in remote areas or have difficulty accessing the internet. Yes, for those of us who have bought on dips, keep the Bitcoin we have for the long term.
DCA investment strategy is one of the best known names in long term investment. There are many who invest in DCA method but do not know that they are investing in DCA method. For example an investor starts investing and at the time of starting he invests as much bitcoin as he can and after some time after investing he invests again it is DCA method of investment. Although this investor is investing in DCA method without having any plan to invest, but through that he is investing in DCA method. But the value of Bitcoin is never fixed so if an investor first invests when Bitcoin is worth $40,000 and invests again a month later, the Bitcoin will no longer be worth $40,000. Rather, at that time, the price of Bitcoin will either be slightly higher or slightly lower, if the price is slightly lower at that time, then if the investor invests at that time, a compromise will be made between the two investments, and if the market rises in that situation, the investor will have a profit.

When investing, we must accept that we may have temporary gains and losses after investing and must take it as normal. Since there can be profit in something then of course there can also be loss but waiting for that loss is one of the best qualities of an investor. People who invest must know about investment, if investors don't know about investment then they can't invest. Maybe some investors understand very well about investing and some investors don't understand much about investing, but if bitcoin is held in depth for investors, such investors with relatively little understanding can still invest and hold the investment. We should not change our objective after investing but we should have objective no matter how we invest so that we can work on investment retention.

~snip~
Understanding, investment objectives, strategy, correct mindset, budget sources, time frames and investment and financial management are some of the interesting points that a potential investor needs to have. You won't necessarily be able to invest safely without sufficient knowledge, and you won't get a commensurate return if you don't have a goal for what you invest.

The basic concepts certainly need to be learned regardless of whether they are beginner investors or experienced investors. However, the difference is that both of them have different experiences and knowledge for this asset whose value fluctuates. The success of an investor depends on how they have understanding, strategy, financial management, investment management and risk control, so all of this must really be learned in order to be successful in investing.
In order to invest and maintain the investment for a long period of time, it is very important for an investor to have proper investment knowledge, enough patience, proper strategy, faith in investment.  

* Sufficient durability will help an investor to hold the investment for a long period of time and the investor will be able to be patient enough if ever bad conditions arise in the market.  
* If the right strategy is followed by the investor, there will be no mistakes in his investment and there is a possibility that his profit will be very high at the end of the specified period.  
* When the investor has confidence in the investment, no matter how much temporary instability is seen in the market, the investor will naturally hold the investment by trusting the market.
legendary
Activity: 3892
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Self-Custody is a right. Say no to"Non-custodial"
February 03, 2024, 10:49:01 PM
Sounds like you understand the idea, so it is a matter of putting theory to practice and trying to have fun with it, even though it can take a long time to play out, it can be fun too.

Think of the guy who invested $7.9k between 2018 and 2020 (investing $50 per week), he might have had felt kind of bad during 2018 and even into 2019 and even during parts of early 2020 he felt pretty bad during the March 2020 crash..

So by the end of 2020 he had accumulated a whole BTC, and he started to feel really great during 2021, but maybe not so great during 2022, but during 2023 and into early 2024 he is feeling pretty damned good again, and even if he continued to invest at the same $50 per week rate during the whole time and maybe in the second 3 years he only accumulated 1/3 of a bitcoin but he is currently at 1.34175 BTC with nearly $16k invested, so he is feeling pretty good about all of it, and sure maybe he was not consistently $50 per week, so if his specific performance had varied from what he could have had gotten in employing a DCA strategy, then maybe he needs to reconsider if he should change his strategy - however at the same time, if he feels that he is on a good path, he might just keep with $50 per week or maybe he might feel that he is doing well enough in his investment he might want to increase his weekly amount to $100 per week or some higher amount, even though he probably would have had been better to increase earlier on, but sometimes people will kind of just get caught in a pattern and even some people use automatic weekly buys rather than doing them manually, and either way has its advantages and disadvantages, my personal preference is manually in order to engage with and to monitor my investment more, but some people don't want to (or can't) have that much involvement with their investments..
Sir I really do appreciate your effort in explaining this to me, I do feel there is a lot of practice I need to do in other to ask more in-depth questions 😊 and fully understand you better, and yes DCA would continue to be my best for now cause of the way I play around with it, it's so flexible and that's the reason I am able to understand some thing you teach, I can never neglect the place of emergency funds, reserves and floats cause just like DCA they are the backbone of every investment and are needed for our investment to reach a stage of maturity and expansion.
It is also true when you said about how I'm trying to rush things, but I also feel that I might not be feeling to well now because of my stach and hence want to accumulate more, but when my investment has gotten to 2-3 years of income allocated I would definitely start to feel good about, sharing your testimonial and how I've seen other people feel good about their holdings makes me want to even hold better and I can only say for now..... DCA would ever remain my beat strategy.

I provided an example of a guy who consistently invested, and he felt bad good and bad, and then in the end he is still starting to feel good, but even from this example, we cannot know how long it might take for you to feel good because there are no guarantees that bitcoin is going to continue to perform how it has historically, and that is part of the reason that you have to continue to expect that it is possible that your investment will not end up paying off... so if your investment does not work, even if you do everything right, then don't come crying to me.. because each of us has to take responsibility and also realize that our investment might not work out, even if we end up doing everything correctly (or at least in line with the best of practices).
sr. member
Activity: 812
Merit: 365
February 03, 2024, 09:48:41 PM
Every dip is an opportunity for every investors, but it all depend how was the situation affect your deliberation to acquire enough profits. It is too risky to decide, but we have to take the risk if we are aiming to earn enormous profits. Don't be doubtful for every decision you have take, it is about a strategy you created, if you want to earn then spend time to keep holding and if you are doubtful then do not invest, it may frustrate you and lose you as well.
The drop in bitcoin prices is indeed a potential for us to enter and buy. So basically there is no need to think much when Bitcoin experiences a decline, because this is a good opportunity to maximize the final results. So what this means is don't think too much that after this decline Bitcoin will fall again.

But, I agree with you friend. If we want to invest in bitcoin, we all have to be ready to bear all the risks. Because behind the profits we can get from Bitcoin investment, there are definitely and it cannot be denied that there will be risks too. So in essence, when investing in Bitcoin, don't just look at the final results or profits that can be obtained. But don't forget the journey or process to get these benefits. Because currently the majority of beginners or those who are new to Bitcoin investment, sometimes don't really think about the risk factors.

But even so, what I feel and experience is that Bitcoin investment has very minimal risks. Because one of the factors that strengthens this is

  • Bitcoin has a very regular cycle every 4 years.
    So when investing in Bitcoin, every investor always has hope. because they already know that when the Halving and bullish market come, the price of bitcoin always goes up.
  • Then secondly, there are more and more users or investors.
    In this day and age, Bitcoin is definitely popular with young and old investors. Especially for people who are familiar with current technology. I think it would be very natural that in this digital era, bitcoin would be a very appropriate option for investment. So because of this, bitcoin will certainly become increasingly popular with many people in the world and of course the risk of the price dropping or bitcoin being destroyed is definitely very minimal.
  • And finally, bitcoin can be an investment asset for anyone.
    So the point is not only to know rich people. But even for middle class people, Bitcoin is very suitable as an investment asset. So with more and more people being able to invest in bitcoin, it is certain that in the future bitcoin will be even more advanced.

So in conclusion, from these three factors, I can judge. That bitcoin has more good potential than bad potential. For this reason, the risk factor will definitely be very minimal. But even so, that doesn't mean we have to be careless, but we have to remain alert and be ready to accept all the consequences or risks.

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February 03, 2024, 09:42:52 PM

I agree that it is good to learn those various areas, yet at the same time they can be learned as you go rather than prior to getting started.  Anyone can get started investing into bitcoin with bare minimum knowledge, and they can invest $10 per week while they figure out more specifics, including honing in on their own budget and financial management.  

Now off the top of their head, even if they are not very good at finances, most people have ballpark ideas about whether they can afford $10 per week or not.  Now they might not know how to manage their budget, and they might have a lot of debt and they might be having emergencies every month or maybe several times a year because they are not sufficiently spending lower than their income and/or keeping track of their cashflow versus expenses.. .but these are things that people can improve, even while starting to invest into bitcoin.

Now if they are not exactly clear about the level of their disposable income, they may need to get  more specific ideas prior to starting to invest more aggressively into bitcoin, such as increasing their investment to $100 per week or performing a lump sum investment of $5k... so the more aggressive that they choose to be, then the more they are going to need to know, and also if they build up their investment amount, then the more that they have invested, the more they could end up getting tempted to cash out at the wrong times or to engage in gambling behaviors rather than investing behaviors.. so most people can learn those kinds of things as they go, even though sometimes they are their worse enemy by doing before knowing.. so if the amounts are small enough, then it might not make a BIG difference, so that would mean that they have their risk management under control by not investing very much, but they may fail to realize their potential because they are not being as aggressive as they could be, including likely needs to pay attention to their whole cashflow situation and to make sure that they are spending reasonably within their discretionary income while maintaining some kind of an emergency fund, float and reserves. which becomes even more important as the investment into bitcoin grows. including accounting for the price changes that bitcoin can go through during the period in which someone is starting to invest into it.

I agree with you, sir, that it would be impossible to try to learn everything before beginning to invest. A lot of lessons and strategies can only be understood through practice and experience. A novice may not even know much about strategies like dip buys or how to take advantage of dips, and in the process of trying to learn everything, they may become entangled in other information that diverts them from the fundamental knowledge of investing, which is the DCA method, which is simple to use and the only beginner-friendly strategy that logically supports low income.


I believe that if someone starts investing, figuring out the other requirements won't be too difficult because we have to attend class before learning those lectures. Therefore, I believe that the first step, even before learning much, should be to start with DCA and accumulate emergency funds; the other benefits of being a bitcoiner can be discovered later.
I'm of the same opinion as you and I can actually recur my case when I started applying the DCA method as prior to that time, I had just little knowledge of Bitcoin and never in-depth. My knowledge then was just limited to knowing how to buy and store my Bitcoin and other minor knowledge that enable my find my way around it. The core technical terms were alien to me but I know that Bitcoin will surely be worth something considering where it was coming from. This was my biggest motivation to continue accumulating Bitcoin. The DCA method really made the entire thing easier for me, eliminating most of the entry challenges I was facing that most times make me miss buying because I was waiting for price at a certain point.

Full knowledge is something I'm working on while already being invested in Bitcoin. My financial commitment even make it necessary to inquire about  more things as regards to Bitcoin. I think, just like you rightly said, the DCA method is suitable for all financial classes, knowledge class and indeed all types of people who desires a more systematic approach to Bitcoin investment.
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February 03, 2024, 08:00:01 PM

Sometimes too much in strategy will make beginners confused in carrying out their investments. I believe beginners need a basic foundation to carry out their strategic planning better and achieve the targets they want. The big difference may be in terms of knowledge about Bitcoin, which means beginners may need an approach to see the big cycles that Bitcoin has gone through. Yes, basically beginners can start with the DCA Strategy if they are not able to think about the distribution of funds for several other strategy practices.


IMO opinion. DCA would continue to be the best strategy for beginners because it does not require much explanation to understand, nor does it require any experience to be successful; all I have to do is divide my allocated amount for investment into parts and set an investment interval that works for me.
When I first started utilizing DCA, I didn't even have a consistent source of income. What I used to do was accumulate my money throughout the month and then assign some amount to DCA. I'd set the interval so that before that amount would be exhausted I would have gotten new income to invest again.
DCA, Its stress free, its comfortable , its every beginners choice.
As a newbie, it is good to adopt the DCA strategy when accumulating bitcoin. Even though you are a low-salary earner, you can still accumulate bitcoin with the DCA strategy because you will set a day when you will be investing a small amount of your fund in bitcoin when you receive your salary, and you can be buying bitcoin monthly so that it will allow you to take care of your financial needs since you are a low-income earner. The DCA strategy will make you consistent in accumulating bitcoin because you will set a plan for accumulating bitcoin anytime you receive your monthly salary.
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February 03, 2024, 07:29:51 PM

I agree that it is good to learn those various areas, yet at the same time they can be learned as you go rather than prior to getting started.  Anyone can get started investing into bitcoin with bare minimum knowledge, and they can invest $10 per week while they figure out more specifics, including honing in on their own budget and financial management.  

Now off the top of their head, even if they are not very good at finances, most people have ballpark ideas about whether they can afford $10 per week or not.  Now they might not know how to manage their budget, and they might have a lot of debt and they might be having emergencies every month or maybe several times a year because they are not sufficiently spending lower than their income and/or keeping track of their cashflow versus expenses.. .but these are things that people can improve, even while starting to invest into bitcoin.

Now if they are not exactly clear about the level of their disposable income, they may need to get  more specific ideas prior to starting to invest more aggressively into bitcoin, such as increasing their investment to $100 per week or performing a lump sum investment of $5k... so the more aggressive that they choose to be, then the more they are going to need to know, and also if they build up their investment amount, then the more that they have invested, the more they could end up getting tempted to cash out at the wrong times or to engage in gambling behaviors rather than investing behaviors.. so most people can learn those kinds of things as they go, even though sometimes they are their worse enemy by doing before knowing.. so if the amounts are small enough, then it might not make a BIG difference, so that would mean that they have their risk management under control by not investing very much, but they may fail to realize their potential because they are not being as aggressive as they could be, including likely needs to pay attention to their whole cashflow situation and to make sure that they are spending reasonably within their discretionary income while maintaining some kind of an emergency fund, float and reserves. which becomes even more important as the investment into bitcoin grows. including accounting for the price changes that bitcoin can go through during the period in which someone is starting to invest into it.

I agree with you, sir, that it would be impossible to try to learn everything before beginning to invest. A lot of lessons and strategies can only be understood through practice and experience. A novice may not even know much about strategies like dip buys or how to take advantage of dips, and in the process of trying to learn everything, they may become entangled in other information that diverts them from the fundamental knowledge of investing, which is the DCA method, which is simple to use and the only beginner-friendly strategy that logically supports low income.


I believe that if someone starts investing, figuring out the other requirements won't be too difficult because we have to attend class before learning those lectures. Therefore, I believe that the first step, even before learning much, should be to start with DCA and accumulate emergency funds; the other benefits of being a bitcoiner can be discovered later.
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