Topic: Buy the DIP, and HODL! - page 33. (Read 138706 times)

Ya setting aside emergency fund should always be part of the plan when trying to invest invest into Bitcoin but you can still start up your bitcoin investment if emergency fund is not available as long as your discretionary income is available then gradually you can start setting up your emergency fund when you have already started accumulating Bitcoin through your discretionary income.
The reason to plan for emergency fund is that certainly in life we will definitely come across unexpected issues that we will definitely want to solve without selling out our bitcoin holding in a short while so it can easily be sort out with your emergency fund.

Emergencies are part of the plan when starting your accumulation journey, You are advised to setup an emergency funding and grow it alongside your DCA accumulation journey and continue to grow it until it is equivalent to six months of your expenses or a year worth as the case may be. Emergency funds are good to use in servicing emergencies only and nothing else, so when emergencies presents itself, it is solved with your emergency funds and not shaving or liquidating your portfolio.

Although there are situations where the emergencies outweigh your emergency funds and floating cashes, and on the note that there is no other way to source funds within the timeframe apart from loans, then you can shave off some part of your holdings with the intention to continue your accumulation when things bounce back to normal. I am not a fan of loans and would not advise anyone to go in that direction when they have money locked in bitcoin since the interests might be mind-blowing and cause more problems for the investor on the long-run.

Right and it's going to be a repeat, a cycle that we have seen so many times and we really put it in meme and have a good laugh.

But to be honest, this is the very definition of some investors, and even if we have known this every cycle, still there are investors you missed the train but then didn't bought when it was still down, and then regretting it like in the meme.

Maybe we all look for best case scenario here, but then, if they will only knew how the strategy of buy and hold, then we will be likely better off. Probably just for two or more cycles, we could be very rich, by this strategy.

Those are called smart investors, and maybe even a newbie can understand that it's better to accumulate and HODL Bitcoin for as long as we can and not sell specially during dips just like what we are seeing right now. On the contrary, it's a good time to buy as again, there are meme's that says that they missed the boat but then when the price goes on a correction, still they don't want to buy as they are waiting for the price to go down further.

But in any case, it will be better if you can't really resists to sell or there is an emergency that you need money, then do it but not 100% of your stash. At least leave some for you and then start all over again, accumulate hold, simple but very effective formula and then look for the bigger picture again.

That meme will have that old man go back to this situation when Bitcoin surges back to $108,000.



That old man, like many people that missed the train, will wait for another correction, but a correction that will never come. They will wait and wait only to see that Bitcoin is surging again to $110,000, to $120,000, then to $130,000 and they can't take it anymore and FOMO at that price.
 
 ¯\_(ツ)_/¯

There's a big difference between discouraging someone from selling their Bitcoin and discouraging them from selling at the wrong time, left for me am a big fan of long-term goals when it comes to Bitcoin and I won't encourage anyone to sell their Bitcoin regardless of anything but on the contrary if someone has held for a full circle and more, it's their choice to sell or sell some portion of it if they're wise enough. However I don't think it would be very wise for someone who's investment is not due for taking profits, I mean someone who's not held for about 4 years or more to sell their Bitcoin, it's not like I'll force them or stop them from doing that, it's their choice and moreover they have every right to do whatever they wish with their coin but the best I could do is to only advice them on the consequences of making the wrong decision when it comes to Bitcoin investment and also remind them of what they stand to gain if only they could have patience. Sometimes you don't need to be aggressive or force people to make certain decisions even though it's the right thing, your good manner of approach and how you handle situations calmly would force people to make the right decisions.

It's not about discouraging them from selling, but discouraging them from selling all/ to much of their their holdings   cheap at once just to avoid any future regret.

There're some point an investor will reach and he/she will fell like he has  enough  stashed up already  to start taking profit, the deal at this point is not to sell everything  but gradual taking of profits and at the same time it doesn't stop investing just that it can be flexed unlike  someone who's still accumulating/ in early accumulation stage.
Thus, it's  not like investors cannot sell their holdings , selling it's the purpose of investment  afterall but they need to do it in a manner that's not going to affect the investment and will sustain the investment for a very long period of time...

We should not discourage others from selling their bitcoins, but it is a good advice not to sell them because bitcoin is scarce and a valuable asset.

Bitcoin has grown for 16 years since 2008 so there are many investors who were earlier than us in investing in Bitcoin. They bought at a low price like $50, $100, $1000. Well there is a strong reason for them to enjoy the profits that they have invested in less than 13 years or more and it depends on the stage of their entry into investing in bitcoin.

Smart investors only take a little time and that time is to sell a little if they need money, but if not they continue to hold bitcoin because bitcoin has grown quite well with mass adoption.

The market situation is also like that, every second there are people buying bitcoins and every second there are people selling bitcoins. We are still in the accumulation stage so what we continue to maintain is holding and we must buy regularly until we are satisfied with the ownership of bitcoins in our portfolio.

You make some sense even though you are calling bitcoin cryptocurrency but i think it will be much better if we single out bitcoin and not include it as cryptocurrency since it is way greater and higher than other fucking shitcoins called cryptocurrency. Indeed, due to the price performance of bitcoin so far, many organizations and countries are now buying and hodling bitcoins for long term future proceeds so absolutely, no one is interested in getting much knowledge about bitcoin again since many people are investing as a result of the current trend it has gotten in the market. I think people are getting more wiser not to sell their bitcoins and that is one of the reasons why bitcoin did not experience an intense drop after it got to $100k because many are now holding their bitcoins firmly without being affected by market fluctuations and volatility.

It is obvious you misunderstood what I was saying earlier perhaps you should reread it again to get it sound and clear before you confused yourself the more. I wouldn't blame you because understanding differs, what I'm saying in essence is that the way you will view or grasp something will be very different from the way another person will..., so any newbie who is misinformed according to you and doubt the truth or argue the right information is already going nowhere in his or her Bitcoin investment and off course we all know what will happen to anyone who doubt the right information concerning Bitcoin investment and I still doubt if there's a newbie like that in this forum and if there's any, as they go through this message they should amend or adjust.

Bitcoin is the best amongst all cryptocurrency and it's unique. This is why you see that US government wants it, big tech firms wants it and everyone who understands this also wants bitcoin. Bitcoin does not have a special or right time to buy and you don't need to have all the knowledge of bitcoin before investing, because it's complex and you can invest and learn at the same time since buying bitcoin is easy and that's all you need to know in the beginning because you are not planning to sell.

Only use your extra cash to buy bitcoin and not money for your important needs, if not you will sell your bitcoin investment when your needs arises and that's no longer investing but gambling. Bitcoin is an asset that we should long and strive to have which makes it very important for us to start buying whenever you have the money can because you cannot understand the market and no matter how smart you think you are because bitcoin price movement is unpredictable.

Investing in bitcoin is for your future and that's why you need to sacrifice and build your portfolio with DCA weekly because that will ease the stress on you if you use part of your discretionary income to buy always overtime. Experience is the best teacher in bitcoin investment and you need to gey started to have such experience because theory is useless.

Surely some folks do not know the difference, and there is a lot of informational sources, whether mainstream media or otherwise that talk in such ambiguities in there failing to specify what they are talking about.  It seems better to be way more specific in the way that we speak, and even frequently people are not dumb, but they still might not have spent too many hours looking into bitcoin enough in order to recognize ways that bitcoin differs from various shitcoins, even though they might know that bitcoin is the oldest or that bitcoin has the largest market cap, but they still might not know very much beyond some of the superficial kinds of talking points that are sometimes misleadingly repeated.

from his diction and what he says, it is pretty obvious that he is a newbie that lacks proper knowledge on the subject matter of bitcoin investment and even bitcoin in particular. having deep knowledge on bitcoin is good but defining deep knowledge to involving know when the best time is to buy makes him look like a trader that is just looking for cheap profit.

also, talking about bitcoin and yet considering buying what is good or not good only means that one is talking of investing or planning to invest in in some altcoin which only shows that he is not knowledgeable enough to know that doing so will mean that he is gambling with a resource that would have yielded great returns if he used it strictly on bitcoin investment. at the end, this sort of conversation opens up an opportunity to educate ourselves, so we get to have a reorientation that helps one to invest in bitcoin and not assume that buying into any other thing is what tagging bitcoin investment.

It's not true mate, only the basic knowledge of bitcoin is enough for you to start your bitcoin investment journey.
I am happy that you are ready to learn and start your bitcoin investment. A brand new investor shouldn't start thinking of any coin to buy but should only think of buying bitcoin because bitcoin is still in its transition stage and the odd of the price going up is higher than going down. Bitcoin is a long-term investment and is decentralized with great potentials.

Only knowing how to buy bitcoin from an exchange is what you need to know and that's very simple. You need to figure out how much is your discretionary income from your income, after you have made all your monthly expenses. The leftover can be used to invest in bitcoin and you use an amount that will enable you to continue buying every week as a new investor because you don't have any bitcoin yet. So buying every week will be the best or monthly.

After figuring out your discretionary income that you will use to DCA continously overtime, you should start your bitcoin investment right away and no need to know the market condition because it's useless as DCA enables you to buy bitcoin at all market level either during the dip or bull. The best time to buy is right now because you are going on a long journey and you will also be buying and growing your bitcoin portfolio overtime which should be your main focus. You should keep your bitcoin accumulation ongoing for 4-10 years and above with consistent and persistent for a better result.

You are to also set up an emergency funds that will enable you not to sell your bitcoin investment before time when an emergency arises. Your emergency funds will be a back up to your bitcoin investment and it should be at least three months of your income. Your emergency funds shouldn't be touched only if a real emergency arises. Don't bother to have an emergency funds before starting your Bitcoin accumulation, as this can be built simultaneously with your bitcoin investment by using half of your discretionary income to be investing in bitcoin every week and use the other part to build up your emergency funds.

It's very good to have a deep knowledge about how to buy,when to buy,and the project to buy.When  none of these things are put into considerations,there is every tendency that you may end up investing or buying what is not good,or might even buy at the wrong time,but an in-depth knowledge about how Bitcoin operates and what it takes to get one is very important.
For us that are not much learned in the things of Bitcoin,it will be good that we make people like you our mentor so you can teach me how invest in bitcoin.
I want to learn,teach me.

Sincerely speaking JJG alone is a bunch of knowledge that has impacted series of people in this forum, and I am beneficiary of his knowledge and has also changed my entire scope of reasoning. I must say, he is an embodiment of grace that has greezed people around the forum to enhance and speeding up their intellectual knowledge, however even if he doesn't sees himself as one to me he is because I have successfully follow his teaching and direction and today I have good knowledge.

To you JJG
💚💚💚💚

Therefore, forums like this will be important, especially for some discussions that lead to more serious matters on investment because in the end when we are in the public space, of course we will definitely meet people with different backgrounds so that when there is a discussion such as those that lead to more serious matters on investment regardless of the focus (buy on the dip or DCA) then all are free to ask or at least argue just like we always do because it is not looking for who is the most right but to remind each other of what we do in the end.

In this forum or even in this thread we are a lot of people who can even be said to be quite good at providing more information on bitcoin or investment including strategies and techniques so that in the end it will not be wrong when we start to discuss including asking especially for beginners who really want to know more about bitcoin or investments that want to be made with bitcoin.

Another thing is this, while those newbies are encouraged to asked questions, they should be mindful who they are going to ask these questions, because if they ask the persons with a wrong mentality about bitcoin, the person is only going to share with them what he knows. And at that time his situation is still going to worsen more than it was, because he is going to dilute whatever trash that person tells him. That's why it is important that newbies should ask their questions in places like this. Where they are sure of getting the right answers to anything bothering them, that needs clarity. But it's really surprising that we don't have much of those newbies asking questions here lately. Newbies shouldn't go about asking questions to random people they come across on the street. Those who have access to this place, should rather ask their questions here. It's more better that way.

That's your view, and I understand what you are trying to say here, but you are not saying it the right way.
Their are some newbies that are uninformed and their are also some newbies that are misinformed.
Those that are misinformed are the most difficult to to teach because they have already believe the wrong knowledge about something that have been given out to them, if you try to correct them, they will mostly argue with you.
But the uninformed one's are the ones that are like 🐑 sheep's, they knows nothing about Bitcoin, any knowledge shared to them will be received easily because they don't have to unlearn anything  like the misinformed newbie.
But once your are a Bitcoin investor and you knows all that  is required to buy Bitcoin either through the DCA method or the lumps sum method and you know what is needed in other to hold successfully, then in my own opinion you are no longer a newbie, because you already have the right knowledge on how to invest and hold successfully in a very long period.

There is nothing better than Bitcoin and that is certainly already well known by most people at this time so that there are many smart people who continue to work to be able to buy Bitcoin after they get income from other things in this world now. So learn to be smarter and continue to take advantage of more opportunities in seeking profit in various things so that every income you get can be used directly to buy Bitcoin by making measurements based on your own wishes.

And I think you yourself also know enough that Bitcoin has shown quite accurate evidence until the end of this year so that you only need to focus and plan on increasing your own portfolio with a larger amount of Bitcoin ownership so that you can see a fairly accurate difference in your own life. So buy Bitcoin with deep conviction without having to plan when to release it back into the market because now there are many companies that have seen Bitcoin as the best asset to own in the long term.