Topic: Buy the DIP, and HODL! - page 342. (Read 108545 times)

I don't believe he invested more than he was comfortable risking. It's evident he wasn't aiming for long-term profit, and his lack of a well-thought-out investment strategy likely led to selling off his Bitcoins. For those looking to invest in Bitcoin, it's crucial to plan and diversify investments wisely, allocating an amount not needed in the short term. While it's understandable to sell some Bitcoins for emergencies, it's advisable to establish a separate savings fund for unforeseen circumstances during the investment period. Effectively dividing your income based on monthly expenses is essential.

Thats good statement. The wedding can wait for more years and proper planning should be made toward it. It's hard to believe that people will jeopardize their plans for the future by selling off their Bitcoin for a one-day event. If we look at it again the persona here was clearly into Bitcoin for the short term. Because am certain that someone investing in Bitcoin for decades/long term should behave differently from someone investing with the intention to pay for a wedding event in a year or two from now. The fact that he has to sell his Bitcoin for a wedding means he had some improper planning. Someone is planning for a wedding should have gotten a wedding fund account, which means whenever he receives his income he can allocate some money into the account, in a more preferrable manner he could decide to reduce the percentage of money he allocates for Bitcoin and emergency fund and set saving goals based on the budget for his wedding.

The main idea is to invest the amount of money you know you can afford to lose, so you won't have to sell your Bitcoin. If a person ends up selling his/her Bitcoin because of a life invent even if sometimes life can be unfair, it indicates that they have invested more than they were comfortable risking.

I don't actually think selling all of your bitcoin is a good idea, even if the initial idea was to accumulate and then use the money to buy or settle some things its still not worth the risk of selling all of your bitcoin, but rather I stand with the opinion that say, pass bitcoin to the next generation. Maybe before our grand children will start using using bitcoin, the price has already gone up to some millions in dollar, and you still retaining up to half a bitcoin would be considered a wise grand PA who used his wisdom during his time. But failure to retain some BTC is just like a salary earner whom after receiving his pay, he enters into a gambling casino and spend all his money before arriving home. Yes, its as worse as using gambler to compare one who sells all his bitcoin without retaining some for the next generation before he/she dies.

Talking about selling of bitcoin, next year we would be experiencing the halving event and this is not the right time for any one to think about selling, even if his intention is to sell after the bull run then wait for the dip before buying again, how sure are you that after selling your coins that wouldn't be the least amount the price of bitcoin  would fall to? So I not in support of the idea to even sell and buy again because you might be experiencing some loses if it happens just as I have stated.

Bitcoin investment should be taken as a journey, the same way we take our studies as a journey,  to become a professional in your field you need to build knowledge and experience,  and through that knowledge and experience you will be able to make the right choices and decisions as you journey ahead in your career, same goes with investment and any form of business,  the best way to go about starting up anything that involves risk, is by first of all knowing the nature and risk of what you are venturing into.
Bitcoin is one of those investment that before you can be well grounded to make the right decision, you must first of all have adequate knowledge about Bitcoin,  it market cycles and how volatility have it hold on the assets, all this you need to put into consideration before you make any decisions as to either buy the DIP and Hodle or make a break, hold back and have a reflections on the price deciding to either wait and keep holding your already starched Bitcoin or accumulate some more.
This aspect of market analysis is most important to avoid jumping in at the wrong time and also limiting your amount of waiting time for the price of Bitcoin to at least come close to what you have desired it to be a safe price benchmark for your Bitcoin holdings.

It doesn't require much of learning as you said but the little learning as framed by you is quite deeper and wider that it seems. lol, you will only understand when you are already investing. The sentence/or statement that is in bold, is quite confusing or contradict what it is intended to hold, it should either be rephrased to give it's meaning or be clarified because if anyone understand that Bitcoin is not a get rich quick scheme rather a long-term holding investment they can get involved with the DCA method of accumulation if they can't afford to buy larger scale. Even what you consider as long term investment is quite not long enough as discussed in the earliest part of this thread, if you read through you will find out that it is more a good long-term investment when hold for a period of 10-20 years and above.

From what I observed in this conversation the the misunderstanding between you and and the quoted @Fauderz is hanged around hitting the nail at the head, he/she in his/her definite understanding is trying not to dispute the fact that no knowledge is a waste rather learning and practicing is the real learning. permit me to say that your arguments here is kinda blind but you know what exactly you want to say but the skill of putting it in the right direction is what you lack here. when you made mention of the word (Experience) I believe you know the true meaning or you just use the word without a deep understanding of it, Cuz if you say experience you must put learning and practicing that makes up experience which is what the quoted was really implying but you either do not understand or do not want to understand either ways. For anyone to be well acquainted with the knowledge of Bitcoin and it's investment he/she must have put in to practice what has been learnt and this process is what brings experience or should I say it is the experience itself. so your conclusion that you prioritize learning about Bitcoin and gaining knowledge about investment is vague and not properly justified. the knowledge which you admire to gain in Bitcoin investment is majorly and/or solely dependant on practicing which is absolutely investing and leaning at the same time.

That makes sense, sometimes someone might think that all learning is the same, they might not see in terms of what learning is done whether it is theoretical only or together with practice, why? it is because in general the perspective of society in seeing learning is all good actions even though there are several factors that can actually affect whether or not they can understand what they are learning. And one of them is like what you discussed here, honestly I quite agree that indeed students together with real practice will definitely be easier to understand than we just sit in class and just listen to the teacher explain. Do you ever feel when you come home from school or college all the knowledge explained by your teacher/lecturer is lost in your head instantly/unconsciously? honestly in my opinion everyone who has been to school will definitely experience something like that, one reason that makes sense is because you don't see directly the physical form or just a picture of what you are learning, meaning you only use your ears to learn and don't use your sense of sight which basically it will help encourage your memory to be higher. So the point is learning is good in any way or method but in my opinion when you learn something together with practice of course it will make your memory even higher and indirectly it will be a real experience that is easy to remember while continuing to learn and carry out the best investment plan according to you.

Overall, I honestly agree with your statements and suggestions for the problem of good learning methods, especially for beginners who are just getting involved in bitcoin accumulation, and yes in addition to having a good enough learning method and that can accelerate your understanding on the other hand, don't let you only be busy on one thing, because there are still other things that are no less important, such as good financial management, emotional management and control that is in yourself. We must remember that usually beginners are very prone to making mistakes, not all of them are ready to face unexpected things (losses), and it will greatly disturb the spirit and planning that they have formed from the beginning, which is why it is not uncommon for beginners to just give up when experiencing losses. Therefore I hope they have to consider everything before finally getting involved, don't let you only be ready for the profit opportunities but you also have to see that behind the profits there will always be a level of risk that can even exceed the percentage of profit, and from the beginning they must already understand all the possibilities that are very likely to occur in their accumulation journey. I think this needs to be emphasized more, because not everyone, especially beginners, is ready to face such conditions.

One of the factors that determines an investor is determination, Goals and commitments, so however as an investor who saw a great potential on bitcoin or a particular investment and you decided to invest on the bitcoin, perhaps you should be committed and have a determination that no matter the circumstances you will stick to your investment and use other source of income to settle those needs while allowing your investment to grow.

Actually I'm not disputing his decision on selling off his bitcoin to marry his wife but on the contrary he has no determination as an investor because after spending all his bitcoin on the wedding he will be left with know option but to start all over again and maybe the bitcoin price may have gone up that he will find it difficult to buy again.

Perhaps as an investor what he should have done is to adjust the wedding so that he could workout the money from other source instead of selling his bitcoin, I'm saying this because I'm a business man and trust me I can never close my business to pay for my wedding because what if after selling closing your business and after the wedding you have no money to feed your wife what will become your faith. Perhaps there is a saying that he who fails to plan, plans to fail.

That forum member only invested in bitcoin with the funds that he was saving for his wedding and that is a wrong idea in bitcoin investment because you will end up selling your bitcoin with panic because the money was not suppose to be used to buy bitcoin. He was lucky that bitcoin price pump up when he invested and that was why due to FOMO he sold quickly to take profit. @Litzki1990, I wouldn't call that action an investment plan but trading. You don't need to have high hopes when you are investing in bitcoin because the price might not pump as you thought, you will be disappointed. Nobody is saying that you shouldn't plan big on what to achieve with your investment but rather stay focus and accumulate till when you have reached your bitcoin maintenance level, you can start thinking to fulfill your hope.


Professional investors or a beginner will always be successful as long as they both have a long term goal, and work towards their bitcoin target. Bitcoin accumulation doesnt need one to be able to analyze the market before buying, but it only needs discipline and patient because it is easy to just keep on buying weekly as long as you have budgeted the money that you will use for regular DCA. DCA minimize the risk that will put fear into a beginner that is new to his bitcoin journey. Stay focus on your bitcoin target and continue accumulating little by little will lead him to his bitcoin target, as long as he is not selling.The difference is that it will be more easy for a professional to achieve his bitcoin target due to so much experience in the market and in accumulating bitcoin with the three strategy. What the newbie only need to do is to keep on accumulating and piling up his bitcoin through regular DCA to increase his bitcoin size.

I haven't kept my eyes off this discussion, no matter the fact that I am not always here to discuss, but I read every line of each comments on this discussion.

However, it is a good thing not to sell all the holding in the wallet. Selling the whole BTC in the wallet is not a good one. Moreover, what is the essence of holding the BTC when the investor still sells them all at last? Although the investor might have gotten some profits, it is still better not to sell all the BTC in the wallet.

If an investor sells 50% or 70% of the BTC in his or her Bitcoin wallet, I don't think that there will still be enough Bitcoin that will suit the investor (no matter the achievements he might have gotten).

I think the other aspects of Bitcoin are to pass over to the next generation, mostly those that are aged. So, even if an investor wants to die and the investor already knows, then there is no need to sell all the BTC he or she has, but it will be good if the investor passes it on to his or her child that already knows what Bitcoin is all about, even if it is a little knowledge that the child has.

As I am the type of person that wants my family to know what Bitcoin is all about, if I am in such an aged position, I will just give my BTC to someone in my family that knows about Bitcoin, because even if I don't, I can not use it to do anything in the other part of the world.

As you seem to be suggesting Hatchy, the example also does not seem to be a good way to show what kinds of things we are trying to talk about in this thread in terms of ways to manage your bitcoin investment for the long term considerations.


I would hate to imply that anyone should be thinking about selling all of their bitcoin, because then the just get into fucking around with trading and trying to figure out when to get back in if the goal is to continue to hold bitcoin but just to buy more cheaper... and so if you end up being 5-20x in profits then why would it matter so much if you trim off 10% of your holdings at 5x or 20x.. or maybe you figure out some way of managing your holdings so you never really end up selling all of it, even if there might be some periods in which you might choose to sell larger portions, such as 30% of your holdings (which if you are greatly in profits might constitute several times the amount that you initially invested).. so why sell it all, unless you are planning to die soon?  if you do sell it all, then where are you going to put it that would be better than being in bitcoin?

After having only a little theoretical understanding about Bitcoin, it appears to be the easiest and safest investment to make. It doesn't take long to learn about it, and its processes are transparent, direct, and prompt if you want to follow it when investing. When you deviate from the basic guidelines for starting an investment, it becomes more complicated and necessitates more study or learning of new approaches, which may necessitate more time or jeopardize your investment if you are not careful.


What do you mean by "minimal investment ideas"? Is it not only bitcoin investing that will be your emphasis, which to me is the simplest and safest way to begin your investment? When you claimed that bitcoin investing is full of knowledge one can invest in, you are correct; nevertheless, what we are asking is if it is truly necessary to gain so much knowledge before you begin your investment. y then, you would have missed out a lot to invest at early stage, when you could have acquired some bitcoin at a lower price. After investing, one can continue to learn more, but this should not impact the fundamental thing that each investor does in the long run. hodl for a long time and sell at a later profit after the bull run.

You seem not to understand were market analysis is being used, so however when you talk about investor to understand the market analysis, you are indirectly moving away from your major point of view because there is no relationship between investment on bitcoin on holding and being able to understand the market analysis before investing, so it seem a bit contracting from what you are saying.

But however weather professional or not investment on bitcoin doesn't require any analysis or perhaps you were referring to traders because they are the only ones that need market analysis but for for us we are focusing only on holding and not analysis.

Well, I think he or she never intended to invest in Bitcoin for the long term gain or profit. Sometimes during the period of HODLING, we might be faced with many temptations or problems that might want to make us use up our investment. That's why it's usually adviced to have a job or something that could generate you more income during the period of HODLING your Bitcoins.

 For the above mentioned person, he obviously must have spent all of his investment to run his wedding in fullest. It's good to have other sources of earnings while HODLING Bitcoin to avoiding you missing out on the profits you should have made after you had already sold your btc. I know of a friend who recently sold his Bitcoin during this period when Bitcoin was around 34k-35k he actually needed funds to do something's because the one he was expecting had not arrived just yet. After he sold his coins. He said the market moved to 36k/37k which we are currently in now and sooner he started regretting why he had sold his coins. So what I'm saying is that, if you are allocating particular amount of Bitcoin for your long term hodl, it should be there to serve it's purpose as a long term investment fund.

Investing in Bitcoin fulfills many hopes of an investor. I wanted to share this topic but it was not shared but today I feel that I should share this.  
A few days ago a member created a topic in the Bitcoin Discussion section and he headlined his topic Paid for my wedding by investing in Bitcoin. The member probably invested in Bitcoin when it was worth $25K and after $37k he sold his investment and paid for his entire wedding with the money he made from his investment in a short period of time. When the member invested $25K he didn't even know that he would be able to pay for his wedding with his investment profits. But the member did not fix his marriage on the basis of his investment profit but his marriage might have been fixed and he might have managed the money for his wedding expenses in some other way. But she/he invested and she made a profit from her investment and paid for her wedding with a portion of the profit, where she did not need to manage money in any other way.  
In conclusion, the investment in Bitcoin fulfilled a small dream of his, if he was not married at that time, the member might have held his investment for a longer period of time in the hope of profit, and if he had held his investment for a longer period, his profit might have been more.

The person I am talking about did not end his investment after reaching $37K but he will invest again in Bitcoin again and of course with more money and with a long term plan. There are many more people like the one I just mentioned who have achieved much better than expected by investing in Bitcoin. If we can only rely on the market and invest in Bitcoin for a long time with some risk of money, then like the mentioned person, we can fulfill our hopes by investing in Bitcoin.

Not ONLY does action help each of us to potentially learn better, it helps us to tailor our learning (and our actions) to our own situation, which helps us to learn more about ourselves, our boundaries, our ways of learning, our inclinations to take risk (or not), and the various little and difficult to understand ways that we would not be able to see very well without putting theory to practice.

Another presumption is that each of us already comes to bitcoin with some kind of life knowledge - since we are likely not 5 year olds playing with knives, yet even if we might not have very many abilities to manage money, we should be able to learn those kinds of basic skills such as figuring out how much money do we have coming in, and how many expenses do we have.. Are our expenses necessary or some of them can be cut, and how about our income can we increase it, or is it unstable.  Once we know how much money we have left, then we can figure out how much to divide that into our cashflow reserves, our emergency fund, and then what is left from that can be put into bitcoin. 

These sometimes seem like complicated ideas, but they are ultimately basic ideas that any of us can learn, but we are not going to learn them without practicing them and also letting them run over time to figure out how disciplined we are and whether we are getting emotional about how much of a reserve that we are maintaining and in which direction and might there be some things that we can tweak in order to help us to become less emotional about how we are balancing these matters.

Of course, knowing things about bitcoin is helpful, but it is not the most basic of things, and so we have to make sure that we have the most basic of things in better order before we get too caught up in focusing on bitcoin.. and it is not like we cannot accomplish some of these learnings simultaneously, but the fact that we might feel like dummies in regards to some of the basics does not mean that we should not get started right away, including figuring out whether we have $10 that we can spare to just get started... and yeah maybe it would be better to start out with $100 or $200, but if we ONLY have $10 that is available without encumbrances, then it is better to start with the smaller amount and maybe tell ourselves that in one or two weeks (or months) we are going to inject another $100 or $200 into bitcoin,

but in the earliest stage, after we merely bought our first $10, we might be spending some time organizing aspects of our own finances and learning basics about where to acquire bitcoin and where to store it and then maybe if there might be alternative means of doing it in our community and then are there ways to better organize cashflows and expenses in order to get some better grasps upon how much extra money is available to potentially invest in bitcoin and also to perhaps simultaneously establish and/or shore up cashflow reserves and an emergency fund if we had never previously thought about making sure that we have those things in place for 3-6 months, and if we do not have any, then we might have to do a lot of purposeful stressful learnings just to get those kinds of matters into place, which could take 6 months to a year to merely make sure that we have at least 3 months of cash (or otherwise liquid - non-bitcoin) reserves... so even if we are establishing all of these basics in our lives, we should not be stopped from making sure that we include bitcoin in the mix, even if we can only get ourselves to a point of feeling comfortable with a mere $10 invested, just to get started and then figure out from there how to build our bitcoin while shoring up other aspects of our finances and psychology so that we end up investing into bitcoin for 4-10 years or more rather than using bitcoin as a means to gamble in various kinds of short term ways that may or may not play out if we are fixing our systems without longer term thinking in mind.


Even if you might not have had intended to do so Patrol69, you make it seem learning intensive to become an investor, and many people already invest in a variety of ways, even if they might not get their shit together financially, and I would suggest that anyone should be able to get good grasps upon their finances in order to figure out whether they are able to invest $100 per week into bitcoin or if it might be some other amount.  Sure they may need to organize themselves and they may even need to figure out their shit during the time that they are not working or juggling kids around or whatever they might have going on in their lives.  So if they are not already organized, they might need to organize themselves better, and they do not need to put themselves into novice or professional investor categories, to the extent that a professional investor is even something that anyone needs to aspire to .. makes it sound like trading rather than engaging in basic practices to protect wealth and maybe even to figure out how to budget yourself in a way that you know how much you are putting into bitcoin versus other kinds of places that you might have value, even if you might not have previously thought about your various assets as an investment portfolio...


Even though it is kind of general, there's nothing wrong with any of these points.


I doubt that investors need to do certain things first because sometimes they just need to get started and get into practice and applying knowledge that they likely already have.  There is no reason that we need to attempt to be patronizing in regards to the lack of knowledge that people have, even though it might be true that some of them might not have consistently attempted to apply their knowledge in a kind of way to organize their investing and to constantly be learning from what they are doing and having a goals to accumulate bitcoin, whether it is $100 per week or $10 per week, and at the same time learning and organizing around that which might even mean that they might tell themselves that they are going to spend 4 hours per week on bitcoin and/or organizing their finances (and psychology around finances)... 

Maybe 2 hours on Sundays  and 2 hours on Wednesdays.? hahahahaha .. I am not sure if that would be enough time, but it would be better to move from 0-1 hour per week and into 4 hours per week  rather than sticking with 0-1 hour per week, and maybe later there could be a realization that they might need to dedicate a bit more time to the matter.. maybe 6-8 hours per week.. but little by little and each person has to figure out what quantity of time works for their situation..and maybe they will come to realize that if they really want to get serious about understanding matters, they might have to spend more time on it, but if they are not able to carve out such time, they might have to take a more conservative approach in their investing until they might be able to spend more time, such as 10-20 hours per week for a few months, and then after they have learned further, then maybe they can cut back down to 4 hours per week or whatever is the maintenance amount that works for their situation.

The best knowledge in an investment will be gotten through experience because when you have invested in bitcoin, that is when you have started you bitcoin journey and along the road to your bitcoin target, there are many unforeseen challenges that will come your way, which you have to come up with a strategy that will make you overcome it. Theory is simple because it is just one way but practical gives you the full insight of the investment and how you can grow your your investment. How you can be able to be flexible with the market in accumulating bitcoin with regular DCA.

The most important thing that a beginner needs is the basic knowledge of bitcoin which is how to buy and save in a self custody wallet, and to know that investing in bitcoin is a long term mission to lessen the risk as a newbie with little knowledge. Financial management is also plays a major role and this is based on the individual income which varies from person to person. If you can only use the amount that you can afford to lose as a beginner, for regular DCA either weekly or monthly so that as time goes on, when he has begin to understand and grow more faith and knowledge in bitcoin, he can increase his DCA amount.

Emotions and discipline is not something that one can teach you how to control because if you invest in what you can afford to lose and have the believe in bitcoin, it will help you to grow your investment gradually as you are learning and increasing your knowledge. Bitcoin investment is not complex the way newbies think it is. It is better to get started early than waiting to acquire the major knowledge on bitcoin before investing. Remember learning never ends and it is a gradual process.

The most important thing before investing in Bitcoin is to know about Bitcoin and investing first. If we don't have an idea about investment then we don't know where to start and where to end the investment. There's a lot to know about investing, investing isn't as easy as we think, but it's really not that easy. There are many differences between a professional investor and a novice investor. A professional investor analyzes the market deeply before investing but a new investor never analyzes the market so deeply but invests only based on his intuition. Investing is never risk free, no matter how professional an investor you are you have to risk money and then invest. 

Before we invest we need to gain adequate understanding about investing first. When we gain adequate understanding about investments, we are more likely to succeed from those investments. After gaining enough knowledge about investment, we must be sure that we are investing in the right coin. Because choosing the right coin is very important when investing in a long-term plan. After investing in the right coin we need to plan so that we can hold our investment for a long time, because the longer we hold the investment, the more likely we are to make a profit from the investment. Another thing we need to pay attention to while investing is not to get excited due to market volatility. The kind of volatility we are seeing in the market now is often the kind of volatility that happens if we don't get excited by this volatility and hold on to our investments, but we won't get anything good out of that investment. 
An investor must accept these points before investing and then invest.

Trust me, if you treat Bitcoin like you will treat other investments like stocks, real estate and even treasury bill, you will be successful.  Those that follow Bitcoin in the formal way of investing like buying shares in a startup company tend to produce better results than those that are too fixed on the technical knowledge of Bitcoin before they consider buying.

Like a lot of people have already commented here, expert knowledge of Bitcoin is not what you need to be successfully invested in Bitcoin. Knowing everything about Bitcoin is not what will help you build faith around it. This does not mean knowledge is not good. We must strive to emphasize
the fact that  investing in Bitcoin is easy and not tied to the measure of knowledge you have about Bitcoin, something newbies can do because that is the truth.

As it was explain by @Jay on the previous messages above, so putting it on my own understanding, in as much as learning is important we can never compare learning and a beginners who has started investment and at the same time learning, so however in times of investment telling a beginner to focus more on learning could discourage him but however if they were able to start investment it make it more interesting and easier for them because they are seeing everything they need to know, so lets not allow learning clound our judgment in times of investing on bitcoin.

However using my school days for instance, there are some practical courses we normally do and whenever our lecturers tries to explain it theoretically without practical it becomes difficult to understand but when he took us to the workshop things that we were feeling was difficult when he was explaining in the class became so easy more than even the way he was explaining it so in times of investment when a beginner learns from his investment it enhances his knowledge to easily understand what investment is all about.