Topic: Buy the DIP, and HODL! - page 34. (Read 138706 times)

In as much as what you are saying seems to be or is true but I will also like to inform you that we have different type of newbie, you may not really understand what I mean by that but we have newbie who already knew what shitcoin and Bitcoin is all about and we also have newbie who doesn't know all these so, any newbie who doesn't know what all these information is all about should ask question(s) in order not to make a mistake and it is only a  dumb and a naive person that will see or view shitcoin as Bitcoin and anyone who is dumb shouldn't even think of accumulating Bitcoin because they can easily be deceived and convinced. This  is Bitcoin we are talking about any slight mistake can result to a serious... or if not a lifetime regret and information is power and perhaps we should be smart in anything we are doing and asking question is very vital, anyone who doesn't ask question where and when necessary is not a serious investor and obvious is the consequences of that.

Only with Bitcoin, there is a certainty in the coming days, in my opinion.
Surely - it's volatile, but it already proved its principles and behavior on the market, and everybody knows and respects it. No coin would reach such a height - and it probably is for the best, due to each and every one of them having different ideas and cases in mind.

I truly agree with you on this. Trading is a lot stressful when they try time to the market. But some people enter Bitcoin knowing its a long-term thing and still choose to adapt the habit of trading. I am not against anyone who is trading or gambling but let it be on another asset. Bitcoin is not for trading because the full potential will not be reviewed to anyone who adapt the attitude of trading it. Excuses upon excuses mate. Honestly if any investor threats Bitcoin like a long-term asset they will never feel the need to check preces every day or panic sell. Only unprepared investors can get derailed by short term needs and price movement.

The purpose for want which led them to sell their Bitcoin in short term seems to be an excuse to sell. Because before starting a Bitcoin investment, they should have first set up an emergency fund for three to six months of expenses saved or more. through that way they won't feel the pressure or need to sell when wants to come or life happens.

Edited to add the last paragraph.

Bitcoin is still a cryptocurrency just like scientist will argue that Humans are animals.
It has evolved passed the common branding and dwells at the pinnacle.
Well when asked such questions, I'm quite opened about my opinion.
I share about Bitcoin and shitcoins.
I'd explain why I choose Bitcoin and avoid shitcoins like a plague because consistency and long term matter to me more than a short term of profit that can disappear anytime.
Often than not, they usually find Investing in Bitcoin attractive and I have nothing but thanks when they see what they gained during a rise and how much shitcoins perish during Bitcoin correction.
In my country with rising inflation, many just want a better place to secure their funds in the long term.
The term a Naira today isn't the same Naira tomorrow is highly present in my country.

You know we all have emotions, either as a gambler , trader or an investor. But base on the fact that bitcoin kept proving it's self worthy to be one of the best investment so far as given most folks the courage to keep going , like back then when I have no knowledge about bitcoin, I usually sees bitcoin as other coin then ( without know there where a big difference). So I have the fear of investing then , so I decided to give trading a try (damn I became one with emotions lol) , due to that i lose all my capital. But now am a full time bitcoin investor, and fear is far from me , because I believe bitcoin something that will keep growing and if there's any down trend on the way it's always bounce  back .

Is only those that don't understand bitcoin will always let their emotions to get the best of them , but when comes to those gambling in form of trading, just get rich quick, they will always have that fear of losing their money because of volatility, trying to play with market wave , but when you are holding bitcoin you there will be volatility but it won't be an issue because you're not planning to sell any moment soon so you can choose to hold aslong as you can till it's convenient for you to take profit.


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You have spoken well and you are right however looking at what I highlighted from your write up you shouldn't have mentioned that shitcoin here, saying you are not a 100% Bitcoin fan and mentioning a shitcoin that you think also has the power to exist is wrong because that coin is a shitcoin and here is a Bitcoin discussion thread, a lot of newbies may choose your idea and investing on that shitcoin which is very risky, shitcoins are shitcoins there's no better one so let stop sugar talking or advertising shitcoins in this thread.
Some newbies has been deceived through write ups like this, we know there's no shitcoins that should be trusted but we still find some people talking about it yes you can invest in it but don't bring it to Bitcoin discussion thread what you are talking about many newbies may read the meaning that the shitcoin you talked about is just like Bitcoin and since the price is still coming up let them invest in it that one day the price will be like Bitcoin which is a big lie, I was once a victim of reasoning like this and that's why I'm against mentioning shitcoins on Bitcoin discussion thread.

Buddy this emotion of a thing is likely for traders and gamblers whose main aim of being part of Bitcoin inveytment is for quick profit, as for an investor that abide by the concept of Bitcoin being a long-term investment, i don't think such investor has anything to do with emotions, emotion is been attached when one consistently check the market price to enable him or her trade but the thing is all these are stressful, Bitcoin investment is not meant to be an emotional thing, it is an asset thats meant to benefit individauls in a long-term, so anyone going contrary against that is doing what we call trading and it is to his or her detriment.

Mate I don't think it's greed that makes people to sell prematurely during Bitcoin upsurge, I see it as what individuals want though it is not the right thing to do but we can't conclude that the reason for people to sell during Bitcoin pump is greed  personally I don't concur to that.
There are people who came for quick profit in Bitcoin investment not that they don't know about Bitcoin being a futuristic investment,  just that they are not ready to wait for the said long-term to come in other to achieve their expectations.

It's indeed the terminology that rather new users or interested users use for some reason. When I am approached by someone I know, they often ask me what I think about cryptocurrency. Most of the time they do not specifically refer to bitcoin, but they mean bitcoin because I ask them "you mean bitcoin?", and the immediate answer is "yes bitcoin". I wonder if this has to do that a good bunch of the media use the term cryptocurrency.

But your concern is on point because if I were to tell those people who approach me that "cryptocurrencies are amazing and have huge potential", then me using the term might mislead them into searching for some low market cap shitcoin that could go 10,000x like bitcoin did. I do correct them or I put it into the right terms and let them know that there is a huge difference between bitcoin and 99.9% of the other coins.

I am not a 100% bitcoiner because I think a coin like Monero could have a right to exist. But to make sure that they don't get started with absolute garbage and then one day argue that "crypto" sucks but never owned any bitcoin, I am precisely pointing that out.

I haven't paid too much attention to it, but I believe that in this forum most of the older forum members tend to not confuse bitcoin with cryptocurrency as a general term for all coins in existence. It is usually the freshmen I guess who permanently talk about crypto instead of bitcoin, and maybe they are referring to anything that has a blockchain and they don't get the important difference anyway.

Technically, bitcoin is a crypto currency, yet it is misleading to lump bitcoin in as a crypto currency, or to talk about cryptos (shitcoins) and to lump bitcoin in as if it were the same thing or close to the same thing, since in an overwhelming majority of the instances, various shitcoins are trying to profit by implying that they are similar to bitcoin and if we agree to classify bitcoin in a similar way, then we are pumping shitcoins through our failure/refusal to be specific in our language.

As you mentioned, we are better off to specifically refer to bitcoin if we are talking about bitcoin, and if we also want to talk about shitcoins or to make some kind of point about one or more shitcoins, then we just need to try to be clear in our language, if that is what we are doing.

Mostly in bitcoin threads we are not necessarily needing to talk about shitcoins, yet surely from time to time the topic of shitcoins and crypto might become relevant to whatever we might be wanting to discuss.


Hopefully we can try to be clear in this thread, but yeah there are so many folks who don't know how to speak about bitcoin and/or crypto, and frequently newbies are not even very clear about what is bitcoin, so they might have difficulties knowing the difference between bitcoin and shitcoins, so it may well become important to spend some time learning about bitcoin first, and then it might become more clear how various shitcoins might relate to bitcoin, whether they are affinity scams (meaning that they are trying to appear similar to bitcoin) or they might be pump and dumps or trying to print their own token, or various other kinds of scams that they tend to promote that sometimes  could end up overlapping with bitcoin discussions, even though we also might be trying to minimize the discussion of any shitcoins in bitcoin threads, since the shitcoin topic could end up being very distracting and a slippery slope to going through ongoing distractions of irrelevancies.


I agree with your overall point that investors should be less emotional than traders in regards to their bitcoin investment and/or their position, yet even though this thread is not about trading,  traders still should be attempting to structure their trades so that they are not emotional about them... .yet sure, the mere fact that they are frequently taking and/or changing positions could end up leading to more emotions based on more involvement and interactions with the market on a regular basis.  Yet, at the same time, the trader might claim that his trades (and practicing trades) allows him to take emotions off of the table when he gets out of one position and gets into another position, yet many traders likely spend a decent amount of time in delusional practices that frequently devolve into gambling behaviors since it can be quite difficult to be frequently taking or changing positions and to be guessing in regards to a lot of the variables or attempting to make reasonable inferences that are not necessarily as reasonable as they are supposed (or intended) to be.


For sure, in times like this, billionaires can buy thousands and even tens of thousands of bitcoin, yet they sometimes might have difficulties sourcing their bitcoin, especially if they want to attempt to establish their bitcoin position quickly and they want to minimize the slippage of the price on the market, if they were forced to buy their bitcoin at spot prices, and even though you are correct with your implication that exchanges will be running out of bitcoin, I suspect that as the BTC price goes up, there will be bitcoin that comes onto the market and is made available for billionaires and/or other rich people to buy, yet they surely might need to pay higher prices, the longer they wait or the more BTC that they want to try to purchase at any one given time.

In the course of accumulating bitcoin, of course we get many opportunities to buy when the price drops or drops stronger, the reason is because we buy routinely with DCA and it will change the path of everything, namely every time we drop we have the opportunity to buy.

The best opportunity is to have a reserve fund ready to be used to buy at a price when it drops. If that is possible we can add more load by acting a little more aggressively but all of that must have a plan in advance in managing cash flow to the form of reserves, emergency funds and funds that are ready to be used every week to buy bitcoin.

Accumulating bitcoin is quite easy, we only buy on a trusted exchange and withdraw to a personal wallet, we must have confidence and be consistent in investing in bitcoin.

Dude I don't actually agree with you because saying that being emotional is only for traders is totally wrong, though it would've been true but there are some investors that don't actually understand how the market works and these set of investors are always emotional when the market is dipping and not only being emotional sometimes they  are scared that the market will never rise again and they will be having this feeling that their investment is going to loss. And there are also some investors who get scared and emotional when there is Dip not because they don't understand the market but because they know how long Bitcoin will continue to exist which is a normal feeling.

Scarcity means that the assets has a very limited quantity for consumption but in Bitcoin other things are the reason why it keeps growing because if it was scars a lot of exchanges would have stop having Bitcoin pairs but on the contrary all the exchanges has a 24 hours steady market for Bitcoin, so actually is only when you have tried to visit the market to buy Bitcoin but could not that's when  you would say is scars, so since you can buy at any time of the day it remain available, however from now till many years to come so long as Bitcoin is working it will never be scars for anybody, meanwhile if it was the scarcity that give the growth what happened few days ago when it falls to $90k? Does it mean that it was no longer scars for people?, because if it was scars those billionaires would have empty what is remain of the market and all us buying slowly would have left with no Bitcoin to buy, so actually the total quality of Bitcoin is capable of accommodating everybody in the world.

Yeah if you are for short-term in Bitcoin then you haven't seen the beauty of Bitcoin yet. Back then some folks target to sell was  $50k and now bitcoin has X2 of that price range , so those who sold their token then hoping to buy back at lower Price will only endup regretting their actions. If you have heard of stories on how Bitcoin has changed folks lives , most of those folks are long-term holders  , those that believe that Bitcoin is one with growth , in this space no one cares about your emotions just try and positioned yah self by accumulating and holding .

No, being emotional is for traders, it's either you are a trader that buy and sell at every price increments or you are a long term holder, and as a long term holder you have no business with being emotional because you are only looking at the bigger picture of your Bitcoin investment in like 10 to 20 years time from now, so why would you be exhibiting fear and greed?
Though it's very normal that sometimes you might decide to have a look at what Bitcoin is doing in the market, but you have nothing to worry about because you are a long term holder, it's only traders that exhibit those traits like fear and greed, no an investor.
As for losing confidence in Bitcoin when investing continuously, I don't think it's likely, unless you never have faith in Bitcoin in the first place.

if only investors understand the importance of knowing that portion of your opinion i just boldened, the emotions that comes whenever there is a form of correction will never be an issue for them because certainly, what is really important is what they hope to see at the end of a particular time frame and not just the things that are happening midway before it get to that point. if an investor claims that he is investing for the long term but yet, any sort of small event that has led to bitcoin reacting in a certain direction triggers him to want to sell, then such a person is never ready for the dividend of his investment.

volatility is a constant, as long as bitcoin investment is concerned, and every real investor ought to abrased himself with this fact so that when their is a correction, he wouldn't be afraid for the safety of his asset and when he is in some sort of a slight profit, selling to take out that profit wont also look like the best decision to be made at that instance.

If you can't control your greed and emotions while investing then surely you will lose confidence in consistent investing. Because if you are greedy then you can sell Bitcoin when the price goes up a bit. Experienced investors never lose confidence in their investments, they always think positively about the Bitcoin market and they keep their investments for long term. So all experienced investors can achieve the most success from their investments.
I have already seen such news on Twitter, it said that various companies in Russia have started accepting Bitcoin.
https://x.com/JohnLothian/status/1872141069502103855?t=EqCaDj3hnoecL6-tF3q7fw&s=19

Because Bitcoin's next bear market low might be higher than MicroStrategy's average entry price, Chad Saylor can use that idea to borrow against their Bitcoin to buy MicroStrategy stock which Chad Saylor could also use as collateral to borrow against to buy more Bitcoin.

Chad Saylor's genius - The flywheel effect. Haha


It probably will not be as long as we believe. Russia has started to use Bitcoin.

https://bitcointalksearch.org/topic/--5523503

When the price of Bitcoin was below $40K I saw many investors discussing that they bought Bitcoin at that time and they will continue to invest until Bitcoin hits $100K. 
80% of the investors who have discussed all these issues in this section at that time are seeing good amount of profit at this time if they invest consistently and keep investing at that time. Maybe many have sold their investments in this profit but there are some investors who are investing more consistently with more confidence in the market. I think it is important to have faith in the market. As long as we can trust the market we can invest in Bitcoin reliably but when we lose our trust in the market we can no longer invest consistently even if we want to. But at the current level of the market, I still think the market can go higher from here.

The reality is that we, as humans, are often afraid to take the right steps. When Bitcoin was priced below $50k, some people still thought it was too expensive, and in hopes of higher profits, they invested in alternative coins instead. But within just a few months, Bitcoin has nearly doubled in value. Meanwhile, the alternative coins they invested in are still far below their initial value.

If you had planned for Bitcoin with a long-term strategy instead of a short-term one, you probably wouldn't have considered investing in alternative coins. Even now, many people have the misconception that "Bitcoin is too expensive, and buying it at this price could result in a loss," which is why they end up regretting their decisions. But in the future, the current price may look very low, just as we have seen in the past.

While Bitcoin may appear volatile in the short term, its volatility doesn't negatively affect your investment in the long run. The significant gap between its current price and its potential future value prevents Bitcoin's volatility from having a major impact over the long term. We should focus less on the current price of Bitcoin and instead focus on buying it, getting accustomed to a long-term investment strategy.

It is so wrong for anyone to classify bitcoin as cryptocurrency. Bitcoin remains bitcoin and should never be considered as cryptocurrency.  The reason why altcoins are classified as cryptocurrency is because they exist as imitation of bitcoin.  Bitcoin remains the best digital currency and was created not from any idea or concept of any other digital currency while cryptocurrencies were formed from the idea of Bitcoin and it won't make any sense if bitcoin is considered to be as cryptocurrency.  Those who don't really have good understanding of digital currency will always make mistakes of considering bitcoin as cryptocurrency.  Bitcoin remains the king with better potentials and should never be classified with others as the same thing.