Topic: Buy the DIP, and HODL! - page 331. (Read 137493 times)

Let's focus here first, I don't understand your explanation a little. Sorry for asking too many questions, because this is for my future self-improvement. and maybe others can also learn from my experience and be better at investing in bitcoin.


I actually don't panic when buying bitcoin, especially with DCA because I think I don't know how the market is. but you also said there must be an emergency or reserve fund that can be used to buy bitcoin when the price drops.
This decrease, when it exceeds what percentage? because if FOMO can happen every time the market is red, it could mean that emergency funds will come out continuously to increase bitcoin holdings.

I understand you well JayJuanGee and I appreciate your corrections. I think it is my choice of words that made my submission look a little off from what it should mean. I'm not by any means suggesting that emergency funds should replay funds for basic needs or other things of importance. I also failed to specify that emergency funds should just be used for emergencies only and the religious celebration mentioned does not qualify as emergency as it is a yearly event that someone, who consider it important, should already be saving towards.

It is this need for consistency that makes the DCA method a preferred option for many beginners investors, especially those who have been following this discussion. Many of us are gainfully invested in Bitcoin today even in such a manner that we are relaxed and not disturbed by the market fluctuations, all thanks to the knowledge gained here about the DCA method and other important ingredients that make investing in Bitcoin sweet and convenient.

IMO i dont its even advisable to go into trading as a regular job or even as a major source of income as someone who is not well established financially, trading comes with risk and its has a level if uncertainty that makes it to fall into the category of not been a good source of income especially a primary one as in this case.

If your income is low then trading is an Even worse option cause you might end up losing every thing to one wrong prediction, and trying to mix up trading and investing in bitcoin would not be advisable cause you would definitely find your self in situations where you need to compromise one to better the other and in most cases you would chose to trade over buying bitcoin cause it offers more quick profits than bitcoin. And trading at times can lead to addictive habits of always wanting to trade to cover up loses that has been made or even to get money to do other things, to be sincere i dont think trading and investing are compatible cause one involves long term thinking and the other is quite short term and you need different mentality to be successful doing both.

IMO a better advice would be to get a much better source of income and then focus wholly on investing in bitcoin and if you must trade then you would have enough to allocate to both, but its much better to focus in one and in my case investing in bitcoin.

That's absolutely true, I even wonder why people go to the extent of actually saving coins that lose and gain value with a twinkle of an eye, if am to even advice, it's actually better one should stay off  these so called shitcoins and focus more on Bitcoin investment and the funny thing is that some person feel that trading Bitcoin is more preferable because of the little interest they might see where as they don't know that it's better to hold and get the big reward at the end than earn little with lots of risk involved.

Just the other day a friend of mine was actually advising me to actually buy and hold some pepe coins which I blantanly told him am not making such error because what that could ever give me at the end is possible losses and the reason why he gave this advice was because if the masses market price pepe attained that particular week but after some fews day we all saw that the coins switch from a massive 64% green to 50% red and that's when I told him to his face that altcoins investment is something that's too risky and he should choose Bitcoin.

Sure.  You might have developed some bad habits, especially getting involved in shitcoins and then trading in and out of them.. so even if you build up a bitcoin portfolio, you might end up reverting to some of your bad habits and your bad ways of thinking.

None of us can fix your situation except for you, and probably, if you figure out some kind of plan and then just focus on it, then if you get your finances in order, then you can become more and more aggressive in your bitcoin accumulation.. but part of the problem is that the first 2-3 years, it can take some time to build up a bitcoin holdings and then to be able to continue to build from there.

Almost everyone has thoughts of being too late, yet you have to consider that right now, there are probably ONLY around 1%.. or maybe a bit more at best of the world's population of normal people who have any kind of stake in bitcoin, so you already have a lot of advantages because you probably have some bitcoin and you are already familiar with some of the dynamics of bitcoin, probably including how to hold bitcoin privately.. and if you don't know some of those kinds of things, you are in a place to be able to learn those kinds of things since you have already shown interest in the space for about 6.5 years.

Another thing when you invest into something like bitcoin, you need to put yourself into a position in which you will not be panicking.. so you can establish both a practice of buying BTC very regularly (something like once a week), and you can also make sure that you have an emergency fund and a reserve fund to serve unevenness in your cashflow, but also to give you abilities to buy more BTC when the price dips.. and if you have been practicing not so great cashflow management, it can take time to both learn about those kinds of skills, but to put them into practice.

We talk about a lot of the ideas in this thread, and I also talk about some of the ideas in my investment ideas threads, yet probably the main points is that you tailor some techniques to your own individual circumstances, and you put them into practice, you learn from your putting them into practice and then you tweak your plan from time to time in order to improve the ways that you are implementing your plan to your own financial and psychological circumstances.

Of course, if you have such strong inclinations to gamble and to get involved in shitcoins because you are trying to speed up the get rich quick process, there could be ways to still pick out one or two shitcoins, but don't invest any more than 10% of your bitcoin size into the totality of your shitcoin investment, and sure it might not be a good idea to retain any involvement in shitcoins, so to completely cut them off, but if you cannot help yourself there might be ways to put pretty strict limits on your shitcoin exposure, so then to contain your gambling tendencies.. but part of the problem of a gambler is that they are tempted to do more and more and more, so their tendencies to do more ends up eating into their capital, rather than building their capital.. which investing into bitcoin would be building capital and it may well take 10 years or more to really build up a bitcoin investment portfolio, yet at the same time, you are still likely going to be far in front of your peers.. since an overwhelming majority of people don't really know what bitcoin is and even if they might think that they know, they have not taken any action to get started investing into it.

We might be mislead into believing that bitcoin adoption is either mature or that the amount of hoarding that is going on with rich people and institutions is causing BTC's price to become unreachable, yet I think that still should inspire normies (like you) to buy and to invest into bitcoin rather than waiting any longer or getting distracted into shitcoins and/or trading (gambling).. .. so even if there are a lot of rich people hoarding bitcoin, we are still in early days and they are likely going to push up the price, but they are likely going to be pushing up the price over a couple of cycles rather than immediately.. even if we also might experience some rapit price appreciation of bitcoin both this year (in 2024) and next year (in 2025).


Generally speaking, shitcoins are in and out kinds of things, so you do not tend to advantage from holding them over the long term.. but yeah you never know, there might be some shitcoins that end up having some longevity. but that still does not mean that it makes any sense to try to figure out which shitcoin is less shitty so that you might get some performance that might largely just be paralleling bitcoin anyhow.. and so your reason that you want to get into shitcoins is to outperform bitcoin, and so yes, that is called gambling rather than investing.. and there are a lot of people who are tempted and distracted into such.. and sometimes it might even work.. but it still probably not worth the amount of stress to try to figure it out and to employ luck rather than sticking with the more solid investment, which is bitcoin... .

So, again, if you are going to fuck around with shitcoins, if you at least limit them to no more than 10% the size of your bitcoin investment size (without cheating about it), then you will at least limit your exposure to them.. but yeah gamblers have difficulties limiting themselves.. so in the end, you are the one who decides your own allocations to shitcoins and/or your willingness to subject yourself to ongoing gambling and largely delusional and distracting ideas.

yeah you can get some profit or less profit (or non profit or might endup with losses) , try to get my point trading shitcoins is less risky than holding them you should know . Most people trade shitcoins for short-term profit, accumulating and holding shitcoins is a complete waste , why waste those funds while there's is an epic investment like bitcoin. So I will say try and minimise the urge of trading shitcoins ( or gambling with your funds), by focusing more on accumulating bitcoin, to be in the safer side where you can be ease when accumulating and hodl.

DCA is especially a different formula for Bitcoin, comparing it to shitcoins is debatable, as the two principles are different. But I need to get experience from both. DCA is the strategy that combines sound planning with long-term savings. This also suggests signs of encouraging Bitcoin holdings.

I couldn't agree with you, because even in case of shitcoins long term investment you will get more or less profit. Yes ... you can expect incredible profits by investing in bitcoin. Shitcoins can't even come close to that.

Wow, thank you @JayJuanGee for giving a very clear explanation and really opening up my thinking which has been stuck with shitcoins. and doubling bitcoin by assuming trading from shitcoins.

Thank you also for the suggestions given. because so far no one can provide even detailed information like you, even looking at my profile, providing performance if I do DCA, starting from registering on this forum.

for that I am determined to throw away all the shitcoins I have and return to the right path with the DCA method. although I think it's too late, considering I've been around for too long but I'm still fixated on illusions

Of course DCA makes it easier for us to accumulate Bitcoin gradually, where we can manage our financial flows and arrange everything well in long-term investment planning. Just like you, I am also new to DCA or the investment I have made has only been running for 1 year and I have found the comfort I get in accumulating Bitcoin. Apart from that, if it is in the initial accumulation phase, it is better to apply DCA and buy regularly every week to ensure our stage for the long term.

Large investors prefer to accumulate Bitcoin with DCA rather than buying all at once, moreover their budget is large enough that regular purchases with DCA will give them the opportunity to find cheaper prices in Bullish like this. However, everyone can use DCA in their investments and it all depends on the strategy they apply.

DCA method does not actually consider the Bitcoin price in its implementation. Whatever the price is, one can purchase certain amount of dollar quantity on weekly basis or monthly basis as the case may be. If the price is higher, it will only reduce the quantity of Bitcoin and vice versa.

From my observation, one of the things the DCA method help to eliminate is the worries people do have about price fluctuations which is what many people use as reason to stay away from Bitcoin for safety. With the DCA method, those worries are completely eliminated as the investors only care about getting the predetermined amount of dollar injected into Bitcoin.

I don't totally agree with your ascertain that the DCA method will save you 10% to 15% of your average price. The advantage of using the DCA method is more of helping you to accumulate Bitcoin on a consistent and regular bases and doing so can sometimes mean that you have to buy at an higher price which technically mean that you need to stay longer before getting profit. It doesn't mean it's not profitable using the DCA method but it's just that it's not guaranteed to put you on a 15% to 20% advantage.

However, for the sake of ease, consistency and th ability ot user that aee new to thw market and might not have the ability to doing lump sum purchase, the DCA merhord is still one of the most reliable merhord of accumulating Bitcoin

It would not be advisable to lend a hand to the holding without the need of one's emergency fund. ..cause you might regret it future.

I think the two seniors you gave an understanding of DCA also already knew how useful DCA is for Bitcoin investment. And they also know that Bitcoin investment will be much better if it is intended for the long term because they can also see how the Bitcoin price has developed since the beginning of last year until now, which is still continuing to increase without stopping.

At this time it is better for everyone to hold onto the Bitcoin they already own and not sell it occasionally. Because we will probably see prices that are much higher than the current price and there are even some predictions that say that Bitcoin could reach $100K this year when the halving time is getting closer. I think that could become a reality this year because now Bitcoin has passed the price of $73K without going through a price correction path in the market.

DCA method Basically is to help you accumulate bitcoin little by little in a volatile crypto market. However the idea of DCA can be adopted by other business ventures like the real estate and stock market that you mentioned, but the volatility is completely different, hence the primary reason for which DCA is adopted for crypto especially Bitcoin is to widen your investment over a long period of time by purchasing it in smaller fractures even when the price goes high.

Okay...than I understood.

DCA method is more appropriate in investing in bitcoin than some shitcoins,  is obvious and I also speak base on experience. Started in this space as a spot trader, trading different coins . Was doing fine at first making some good profit because I was using spot and there's no chance for me to get liquidated (doesn't mean your funds can get hook), till a coin came out with a promising value , with alot of hyped how their project is nice and all that so was convinced to purchased it , and at first was going well because I was actually holding it then it dip , I bought the dip. Then I decided to be buying with certain amount for sometime so that anytime the price bounce back I would be in big profits , but it kept on dipping, and my losses was getting out of hand due to the DCA method I use which gave me alot of quantity. At the end it endup selling in loss , losing huge amount of money that left a mark . Now as am talking to you that coin have not even gain it self back even during this recent bill run , as coins are increasing in value . That coin still down , and I learned through experience. Don't use other coin to compare bitcoin . There's reason why all other  coins are altcoins Except bitcoin.

I disagree with you here. DCA method can be used to used for any investment type whether in cryptocurrencies, real estate or in the stock market. When we talk about DCA. Some persons will feel that it is only done in bitcoin. If You are into any form of investing it is good to accumulate every week, bi weekly or monthly through Dca method. Instead of keeping your funds in your hands it will lose purchasing value, and delay you from your goal or target.

The DCA method is one of the most convenient ways to invest in Bitcoin.
 DCA method is best to control the investment according to Bitcoin price no matter how big the investment. And because current market prices are high, don't stop investing from DCA method as regular DCA method will save you 10 to 15% on average price. And invest in Bitcoin for the long term. The future of Bitcoin is very good because you can calm yourself down by looking at the current price.

Using DCA strategies in shit can be damn risky, just as sir JJG said they are not long term investments that have any fundamental and/or long term value. like that of bitcoin. And you aware that when using DCA strategies to accumulate, you gathering alot of quantity in your DCA strategies and don't forget more your accumulation (number quanties you have Accumulated) more effective the   price movement ( either increase or decrease in price)  would influence your holding . Life for example one for as victim using DCA to invest on shitcoins thinking they have high potential to keep increasing in value. But at the end that particular shitcoin experience a great dip your losses would be much due to the quantities you have stash in your portfolio and most time there's high chances that it  won't bounce back. So if you are planning to use DCA and the other strategies in accumulation. Make sure you are planning to use it to accumulate bitcoin , not shit coins,  so  don't be decieved .

I get what you are trying to say. Yes analyzing different strategies without actually taking action to buy is bad, and it doesn't profit any one. However for those that analyze strategies and still take action on buying, they are making use of the best strategy that's available. Everything in life have a technique of doing it. And if you neglect those procedures or methods it might come back hitting at you. When you talk about the average guys out there succeeding without following rules you are wrong there. All you see is their success and not behind scenes. The efforts they have made and the procedures and techniques they followed. There many success stories here about people who followed the methods that have been taught here and succeeded in their accumulations. If you happen to come across those average guys that have succeeded, ask them if they actually followed any methods and if they are truthful enough to tell you their stories you will find out they are either following one of the methods that has been thought here regularly.