Topic: Buy the DIP, and HODL! - page 34. (Read 121696 times)

Buying the dip is not as easy as you think, especially for a new investor who just started his bitcoin journey. Waiting for the dip, is like wasting your time because what if the dip did not come, you will keep on waiting and losing the opportunity that the market is offering you and also waste the time that you are supposed to use in building and growing your bitcoin portfolio if you were DCAing.

A new investor shouldn't wait for the dip but rather get started immediately with DCA after figuring out how much of your discretionary income you will use to buy bitcoin by buying every week or month gradually and regularly in order for him to keep his bitcoin investment ongoing for a long period of time so that he can reach his bitcoin target. However, it is good to supplement your ongoing DCA method with lump sum to increase your bitcoin stash faster than when you are only DCAing. After figuring out how much of your discretionary income you will use to buy bitcoin.

This is where newbies get it wrong waiting for the dip because they think that is the best time to buy bitcoin cheap, unknown to them that it is the worst approach for a new beginner. DCA keeps you committed to invest always since you have a long-term mindset for your bitcoin investment.

Our main focus in this buy the dip and hold thread is about bitcoin, and mentioning another coin, such as altcoins, will only distract us from the main discussion of this thread. It will be better if we only discuss bitcoin here. And fuck whoever still doubts bitcoin, the person doesn't know anything about bitcoin or understand the benefits that come with holding bitcoin because if he does, he will not choose to invest in altcoins over bitcoin. If you have accumulated the amount of bitcoin you want to hold for your long-term purposes, it is not even good to diversify your investment in altcoins. After you have accumulated the amount of bitcoin you want to hold, it will be better to diversify your investment in real-life investments, such as real estate, or you can be selling commodities. 

Bitcoin investment is optional. If a person feels that Bitcoin is not the right asset to invest in then he/she can go ahead to invest in the asset they are comfortable with. Everyone has the right to choose what to invest in but one thing I know shitcoins are terrible to invest in. Anyone thinking of investing in them only wants the little profit they can get now and they don't know the meaning of investment in the first place.

I think we see more new investors who are only concerned about short profits. That is why a lot of them are complaining about the price of Bitcoin when it fluctuation. Practicing buying the dip and holding for long term is easy peazy.

Yes, it is very juxtaposed where income does not increase and expenses are greater because every type of household goods continues to increase in price, of course it becomes a burden on the mind in managing DCA to continue running properly. Sometimes there is a gap in the purchase time due to unstable cash flow but in that case DCA also runs but is only delayed at the due date. Instead of it continuing to get worse, there is no other choice but to find a side job to support cash flow to be more stable.
The burden of investment is certainly felt by everyone because of their economic factors. But the big gap is finding a job to prevent mistakes in investment.

You are right sir, the best way is to achieve the target from the initial accumulation stage to the final closing stage in one year. if it goes smoothly then the planning for the second or third year can be rearranged with a cash flow that may increase. Bitcoin has changed my life and of course Bitcoin is a priority that I focus on for the investments I have made. The accumulation rate is still running quite smoothly even though there are several factors in unexpected large expenses but DCA is still running from my initial planning.

Simply put, that is called gambling. Not a good way to approach the business of Bitcoin investment and never in agreement with buy the DIP and HODL. Unless you have money to throw away, you should not trade your Bitcoin for some quick gains because you may not likely succeed because the risk is just too much to bear especially when you are inexperienced and not versed with risk management.

Now that you know how well Bitcoin can grow when given time, you have to start taking it seriously and build for the future. A time will come when we will look back to today and wished we bought more Bitcoin than we might have then. The opportunity is still calling on us to take our investment serious. With a limited supply of Bitcoin, growing human population and increasing interest from people and governments, we can see that the future of Bitcoin is truly full of hopes.

Normally one may choose to trade with his Bitcoin either he gain or lose is still his loss , Because one thing one need to know is that any amount of bitcoin you waste due to you trying to make short-term profits , may worth more in the Future. Like back then when bitcoin price was around $100 , alot of folks may have wasted their Bitcoin for meaning less things or loss it, without ever imagine seeing bitcoin at such price range it is now . Back then 0.5 Bitcoin would be $50, but now 0.5 would be In the price range of $30k now . You can see the massive difference so is better to accumulate and hodl , than to waste resources on trading your Bitcoin, especially when you don't have the knowledge on how to navigate trading , holding instead is keeping it safe .



Bitcoin give one the privilege to be in-charge of his assets , being his own bank . Because most time bank issues can be annoying sometime,  but when you are in-charge of your assets , all is now left is for you to keep your Bitcoin safe by avoiding anything that may compromise yah wallet .

Yes you're right, people are losing interest in banks because their funds are just used by the banks to enrich themselves, after successful transactions, the banks would end up giving them only peanuts as interests for their funds in savings, current and fixed deposit accounts. Bitcoin is known to give you 100% of your profits as the value increases and this is what banks can never do.

Bitcoin also gives you the liberty to pull out your funds anytime you want without much stress, but In banking system you'll go through various processes to withdraw your funds invested with them. Bitcoin presents flexibility while the banking system presents rigidity and sometimes getting access to your funds can take some time against your plan and purpose.

People are really losing interest in banks and embracing Bitcoin for it's less drama, profitable nature and the freedom its presents to investors over their funds.

I don't see anything prejudice about JayJuanGee statement, I think he is coming from the angle that Bitcoin was not created for people to play with or gamble in gamble out, he is just trying to make a point that whats the need of playing around with a serious and good asset like Bitcoin when you can actually invest with what you can afford continuously and hodl for a long term instead of involving in a short-term stuff called trading, JayJuanGee frown at trading because of the high tendency of individuals being addicted and losing their funds in it, beside it is like a song here that Bitcoin is not meant for short-term purposes so i concur to Jays opinion and conclusion on this one.

Am very happy that you recalled and corrected yourself immediately from the statement you made earlier, yea, absolutely there is no positive gain in trading Bitcoin.
Your conclusions are correct, be proud to say it anywhere, Bitcoin is the digital currency of now, tomorrow and the future, once we have chosen Bitcoin, we have to choose long-term not trading which is risky and uncertain, as a bitcoiner you are rest assured once your consider buying the little you can steadily continuously and hold for the long-term of about the years you mentioned than chasing a quick profit (trading) that looks like a trap on your way.

You don't need to big degree or much education before you can invest in bitcoin, bitcoin is open for all to invest in. Since you said people living in the city, it means that they should be able to be somehow civilized to a certain level that it will be easy for the to know how to use andriod phone or a computer, meaning such people can invest in bitcoin. A lot of high level degree people have condemned bitcoin because they feel that they know it all and believe that it is impossible for bitcoin to survive, ignoring the opporturnity bitcoin is giving to them due to pride and ignorant.

To invest in bitcoin only needs the basic knowledge of bitcoin which you can be taught how to buy bitcoin can also be learnt. I believe anyone that can have a bank account and do his bank transactions himself either by going to the bank or via mobile transfer already have the knowledge to be able to buy bitcoin and hodli.

In addition to what you said, people are losing trust in banks and running to bitcoin because banks are no longer reliable but only make people feel as if they are reliable. Fiat is also losing its value overtime making it worst for you to pile up your money in a bank. This has made people deviate from fiat and bank into bitcoin for save the value of their funds and get profits for investing in bitcoin for long. You get two benefits.

Money needed to run daily lives are not supposed to be invested into Bitcoin neither are funds that are meant to be set aside for emergency that are not planned for but which need to be solved. We don't have to complicate the steps that have been clearly explained to making investing and holding Bitcoin easy and stress-free. When you have some funds, set aside the part for your basic needs and also the emergency funds, then what is left can be invested into Bitcoin using any of the methods discussed which include but not limited to buying the dips, lump sum buy and the DCA method. This sequence is easy to implement for both newbies investors and experienced guys. In life, the simpler we keep things, the better the result we get, that is one thing I have learnt and it has been working for me.

This is the major reason why investor nowadays are migrating from investing in the bank to Bitcoin investment. Since they have decided to full custody of the money in the bank any opportunity these investors have to remove their fund they will quickly do that and shift all their fiat into Bitcoin. Soon the bank will lose the level of trust and number of customers. As Bitcoin adoption has increased, everyday more and more individuals would prefer to keep simple cash in Bitcoin, accept payments, make transactions like gadget sales and marketplace buys without needing to involve the bank. We are able to control and own our money instead which is what everybody wants. The only things we can think about would be credit ratings and the ability to borrow money which we know there will be a delay in processing.

It may be a bit biased to completely exempt trading from Bitcoin. But yes, it is not worth it and if so there is no benefit of trading Bitcoin. Bitcoin is the right asset if we are against inflation, it is an asset that can grant financial freedom since its the best investment for 10 years to 20 years period. If we also want full control of our assets then its no other asset than Bitcoin. We can only have otherwise if we mistakenly go into trading with Bitcoin when we ought to invest rather than trading.

Trading is high-risk, it can be anxiety-inducing and energy-draining as monitoring the market at all times can be stressful for traders especially when the market is volatile.
And it is better to invest enough to be safer and calm our minds.

Actually there are still many of them doubt bitcoin as a long-term investment, I don't even care about that the important thing is to have confidence that investing in bitcoin will be more profitable in the future then now just collect more by means of any strategy you can afford.

I won't even think about other people who don't believe, it's better to ignore people like that, maybe he will regret it later when the price is still cheap but still doesn't buy because of doubts.

The important thing is how we grow the portfolio will be better.

Bitcoin investment is never in anyway against keeping certain amount of your money in the bank.  Since you can't invest all your money in bitcoin, as you are definitely going to build up some fiat reserves, which is what what we spend in our individual countries. There are various reasons for keeping money in the bank, and the most common one is for safe keeping to avoid being attacked by armed robbers. If the banks explain to their customers that they are having cash crisis, that doesn't mean that the customers can't access their money. You can transfer your money to other banks or if you want to make payment that requires large amount of money, you can make inter bank transfers to your clients. What I see here is that the banks are trying reduce the amount of cash in circulation by adopting a cashless policies. Provided that your account is not blocked you can access your funds in many ways other than cash.
 
What if those money in question are the money they need to run their daily lives, or they are the money that they have set aside as emergency funds and reserve funds? Should they have also invested it in bitcoin, and be withdrawing from there anytime they like? Knowing too well that these money are not supposed to be invested in bitcoin. And you know that for someone to see a reasonable amount of profit in bitcoin, they have to hold it for at least a full circle. So if they invest it and be withdrawing daily from it, are you not turning them into day traders? And is it not the same fiat that they still need to spend in your country? Especially if bitcoin is not a legal tender in your country. Won't they still rely on the bank for fiat? That most of those people have fiat reserves in the bank doesn't mean that they don't have bitcoin investment in their portfolio. There are certain areas of problems that bitcoin do solves when it comes to the banking sector. That does not include the problem of issuing fiat to bank customers.

Many just realize that its better to invest for long term with bitcoin rather than participating on any trading activities which provably put them on unknown situation since every short term movements people take bring them huge risk to lose money especially that market is so unpredictable or volatile.

If they doubt that bitcoin is best asset to invest then that means they don't have knowledge about bitcoin. Maybe don't try to explain bitcoin to those people who don't believe since its like you are trying to hard sell this to them but at the end they still ignore it. Much better to focus on your investment and don't take to much unnecessary attention since it will just bother you. Bitcoin is really the king no doubt for that and it always good that we have some share save for future since provably that there's huge chance for us to earn with this since holders is always the winner if we base on past profits result from people who engage with bitcoin long term investment.

Not all people in developing countries are educated enough, but those who are educated may have invested in Bitcoin. Investing in Bitcoin long-term is very easy if it follows the DCA method, but sustaining the investment in the DCA method is the most challenging. People in your country keep money in bank it is for safety but that money is owned by third party, but the person who invests in Bitcoin owns that money because the control is complete with the person who invests. So all these benefits should reach them, then people will not accept the risk of keeping money in the bank. And all the money they will look for Bitcoin investment method for more security and more small amount of money can be invested these benefits will reach them.

El Salvador, a Middle Eastern country that has become successful with Bitcoin, has made it useful enough to educate everyone on Bitcoin relations in the present day. And teaching in different school institutions to reach every people in their country about this Bitcoin. I like this idea best and it is useful for every person with choice.

This problem is now very common in developing countries where common people do not feel safe keeping money in banks. There are many banks in our country which are waiting to declare themselves bankrupt. There are also many customers who have deposited their entire life money in a single bank that now the bank is not giving them cash and when they ask the bank about this, the bank directly tells them that they have a cash crisis right now. My point is that I put my money in the bank for safety, if I can't withdraw that money from the bank when I need it, then why I put money in this bank. 

Now maybe the customers of these banks are asking themselves this question but they are not getting the correct answer from the bank authority. 
If these customers had invested in bitcoins instead of keeping money in the bank, their profits would have multiplied as well as they could have withdrawn the money whenever they wanted.

The evidence that we have seen from Bitcoin and also from most of the portfolios of Bitcoin Holders who still believe in Bitcoin investment and they are all still quite happy to buy Bitcoin is something that is quite real now. So most people certainly no longer doubt Bitcoin as the best asset for investment and also as a good asset for long-term ownership.

And if there are still people who doubt Bitcoin as the best investment asset, of course he will explain the reasons and it could be that the person just wants to advance another damn coin that he likes himself without seeing the value of Bitcoin itself. So for now there is no particular reason for me to doubt Bitcoin as the king and I also hope that over time Bitcoin lovers will continue to grow and implement buy the dip and hodl.

Traders only focus on seeking short-term profits, so they always apply risk management by setting stop-loss levels, and they also set a portfolio percentage to avoid the risk of loss when the market falls. The balance between risk and profit must be carefully considered is key in trading, which is why you have never seen traders holding large amounts of Bitcoin for years.

The Holders portfolio is proof that Bitcoin is reliable enough for long-term investment, but of course it requires the right strategy. Bitcoin has strong characteristics, which is why it can be used as a safe investment instrument in the long term because it is resistant to shocks amidst sluggish market conditions caused by inflation. Bitcoin's large capitalization is an important indicator in determining the fundamentals of an asset, in this case Bitcoin is the champion. So long-term holders do not easily change their investment plans when a major shock is happening in the market, because they believe, Bitcoin never disappoints them.

It seems to me that trading an asset that is as powerful as bitcoin, there become considerably great risks of selling too much too soon, and that is especially bad if the goal of the trader had been to trade in order to try to increase his bitcoin holdings faster than merely buying bitcoin on a regular basis.  They also likely miscalculate the costs of waiting rather than persistently and consistently accumulating, so even though the DCA buyer might end up with higher costs per BTC based on his consistency, persistency and ongoingness in purchasing bitcoin, he will also likely end up with both more bitcoin and also NOT taking any chances on being out of bitcoin during times in which the BTC price does a step ladder upward move and does not return anywhere close to prior price levels. 

To me, it does not seem to be worth it to be fucking around with bitcoin in those kinds of trader ways, even though surely bitcoin is a more solid asset class, but still should not suggest that it is better to trade merely because it is a more solid asset class. ... but instead bitcoin being a solid asset class likely justifies that guys should not be fucking around and even trying to trade it, especially if they are in their earliest of stages of BTC accumulation and perhaps even if they are in their later stages of BTC accumulation, especially if they perceive themselves to still not have enough BTC.

But yeah traders going to trade and frequently not be able to control themselves in their attempts to improve upon an already great asset class (and investment) - namely bitcoin.

I think this guy meant that Bitcoin has advantages in terms of trading over other cryptocurrencies.
But, I understand your point, in general, trading is really very dangerous, and even if you speculate with Bitcoin in an attempt to guess the price, you can lose your deposit as quickly as on roulette in gambling. And the fact that Bitcoin returned to ATH will not help here. Also, trading and speculating with the first cryptocurrency can make attempts to accumulate Bitcoin fickle, but investing according to DCA has advantages in this.
This method makes the one who wants to accumulate Bitcoin disciplined, despite all the other multiple advantages of this method.