Topic: Buy the DIP, and HODL! - page 345. (Read 108545 times)

Often time i tell investors to invest an amout that they can be able to endure if the market doesn't work out the way they expected, due to the fluctuations in the price of stocks in the market it is advisable to buy and Hodl as that's the only way to overcome this market fluctuations.


I these point applying the DCA strategy is the only way forward because from how the market is now buying and hodling is the best option for every investor as no one know if the price of bitcoin will keep increasing or it will eventually dip before the end of the year.

Apart from the fact that this thread serves as a form of enlightenment as JayJuanGee as well as other forum members have taken their time to give Thier different views on investment in Bitcoin,This thread also serves as a form of modification of wrong ideas of people in investing in the wrong assets.
One is advised to invest in assets that would appreciate over time rather than dip therefore Bitcoin is the easiest choice.one only has to be cautious of his wallet security and private keys and hodl as much as possible to be successful in the Bitcoin ecosystem.

We can agree to disagree.  I stand by the points that I made in my earlier post.


If any of us might have started buying in the $50ks and then stopped buying when the BTC price went down, then we retain our average cost per BTC in the $50ks.  Sure if we keep buying then we lower our cost per BTC, but we do not reduce the cost of the earlier BTC that we bought.

Don't get me wrong, I advocate the continued and ongoing purchasing of BTC, and maybe we are explaining the dynamics of how risk might be reduced differently... But still continuing to buy does not necessarily reduce risk, even though it may well cause the need for the BTC price to go up to be less than it would be if sticking with ONLY the purchases above $50k.


I am a bit unclear of your point here.  You are suggesting that since you have not seen shitcoins go to zero, then bitcoin's chances of going to zero are even less than the odds of shitcoins going to zero.  Your logic seems to be quite a bit less clear than the points that I was making in regards to accounting for negative scenarios in bitcoin and who gives any shits about shitcoins in order to make the points that bitcoin could have negative price scenarios that are outside of your expectations, but you should attempt to account for them, even if they might be lower level scenarios.


The upside versus downside scenarios seem to be more nuanced than how you seem to be describing them, but I would be willing to concede that we are arguing over semantics rather than substance, and I see no reason to modify anything that I had already stated on the topic.


The fact that someone does not consider profits to be guaranteed does not necessarily mean that s/he has NOT invested enough into bitcoin.  On a personal level, by the time, late 2014 came and I kind of figured out my BTC accumulation targets, I was ONLY targeting investing 10% of my investment portfolio into BTC, but by the time we got to the end of 2015, I had gotten to around 13.5% invested, which was higher than my target, but still was not the limit of my capabilities, and surely my BTC profits went up stupendously between 2015 and currently, and surely there was no need to aim for BIGGER profits, even though they would have had been possible, and personally I consider that the balance had worked out pretty well, even though the 86.5% of my investment portfolio from 2015 had ONLY less than doubled in value until now, but my BTC went up more than 37x (accounting for some mistakes that were made along the way too).. but still, part of the point that I am making is that you can invest for various UPside scenarios without even considering upside to be even close to guaranteed, but at the same time to be prepared for various downside scenarios too.

Surely you have been registered on the forum for nearly as long as me, but I hardly can know if you are managing your psychology and your finances in a way that accounts for a variety of scenarios.  Surely we are posting in a public forum, so whatever my comments responding to your points are not personal, and you can do whatever you like in terms of managing your expectations.. and how you prepare for various short, medium and/or longer term scenarios

I get some senses that we are not just arguing about semantics, but I also get a sense that you have differing ideas from me (more than just how we are expressing ourselves) about how to think about probabilities of some things happening in comparison to what ultimately ends up happening.

I am not necessarily going to stop responding when I differ in opinion from another member, and I believe that a point needs to be clarified, but sometimes I am not going to feel any need to repeat  points that I already made, even though sometimes if I am being directly confronted, I might choose to attempt to clarify, to the extent that I might feel that it is possible to clarify without too much just attempting to repeat points that I feel that I had already made more clearly at an earlier time.

If you scroll up a little, you will see where I made this post regarding this statement of "investing what you can afford to lose". This statement appears to be wrong if you give it a critical thought and it makes Bitcoin investment appear like gambling. Like I said before, the right statement should be "invest money you can hold for long, money you don't have urgent need of".

If we begin to guide newcomers in this direction, they would have already developed the heart of hodlers from the very beginning.  Since they know it will not be a quick profit venture, they will have the patience to hold even when price is not rising. Many people who introduce Bitcoin to people made them believe it was a get-rich-quick something, this is basically where the anxiety of panic selling, FOMO, and FUD come from. FUD is usually the last resort when the quick profits they were promised did not come as expected. Hence, it is necessary we make efford to change the narratives by giving people the right information.

The risk of Bitcoin is almost eliminated when enough time is given to the market to yield profits. In other words, Bitcoin is mainly risky for those that want to make profits within a very short period of time. This has be proven by the historic data of Bitcoin and we hope it continues that way.

No JJG, You answered it wrong, this is a long-term measurement for the next 20 years and if you measure the level of loss in the next 5 years while the initial investment planning was 20 years of course that is the wrong scenario. Assuming that the loss may only be measured in fiat value and BTC ownership remains intact if you do not sell it. You must provide an idea to support my statement, perhaps it is more appropriate and not look for loopholes to refute it.

Yes of course many made purchases above $40k or $50k at that time and didn't they have a way to stabilize their losses by accumulating at $20k. If they buy at $40k and don't buy at $20k it means they have no principles in the investments they make.

Yes maybe no one wants to lose their money in every investment they make. Bitcoin investments are certainly better than Shitcoin and I have not seen them going to Zero the value of the fiat they invested in unless they act badly in their decisions.

No one can guarantee that the price of Bitcoin will record a new ATH, but with limited supplies it encourages us that Bitcoin will record a new ATH again someday and it could be within the next 20 years.

Lol. No one doesn't want profits in every investment they make. Moreover, 20 years is a long time, so are You wasting your time not targeting big profits?

Every investment is risky. We should invest in Bitcoin such money that we can afford to lose. Although we know that Bitcoin is not comparable to all other Shitcoin and gambling coins, it can be a reliable investment, but there is no guarantee that can be given from it, the investor should invest with due caution.
 
If we are successful in investing here by adopting DCA method then surely we can reduce our risk. We know that Bitcoin is a very volatile currency. When I invest all my investment money together in Bitcoin, my wealth may naturally decrease due to the drop in Bitcoin price. We can never guarantee an investment in Bitcoin but the way people's demand for it increases, our investment can turn into a great asset in the long run. But what I want to say again is that the mindset of investing in Bitcoin should be to fulfill long-term dreams and not for the greed of getting more.

It's good for you that your father is financially sound so you don't have to sell bitcoins but do you have money of your own? If not then you will have problem in investing. Your father may not always support you. Moreover, even after bringing money invested for a long period of time, if you are exposed to losses, you may have to live under stress. Investing in Bitcoin is definitely a good decision but should invest money with own ability or if you suggest someone educate them thoroughly about Bitcoin. Explain its positive aspects as well as its negative aspects. If your father fully understands Bitcoin and plans to hold it for the long term, it will be acceptable. But according to your perspective do DCA regularly, it will give better results.

What I noticed is impatient and then people don't always developed this entrepreneurship to be able to nurture a business to maturity, what we must know and note is that for a business to be successful it takes a minimum of 3 years and maximum of 6 years above otherwise anyone who doesn't exercise patient within the period of nurturing the business might get failed up due to the energy it would consumed for the business to start making profits and starts sustaining their families.

So what some people does is that they goes into apprenticeship to acquire additional skills from those who are dedicated for such businesses and it's mostly common in the eastern Nigeria where they go learning a dedicated skills for specific business, that is why they are known as business magnates. Well lemme note deviated from the solely purpose of the topic. But however, for one to be financially stable s/he should at least has multiple stream income for them to able to hold their bitcoin investment for long without running into financial stress or crisis were they solely depends on the profits of their investment.

Yeah, but what is the period of time that is expected?  are we talking in less than 4 years?  Are we talking some greater amount of time?

I don't have anything wrong with what you are saying overall Litzki1990, but the earlier investments run from the time that they are invested, and then the later investment run from the time that they are invested, so even if there might be some lump sums at various points (or frontloading of the investment), the ongoing investments would have shorter  amounts of time invested as compared with the earlier investments, so maybe if the time target to "give back to father" would be after two BTC cycles, then there could be investing in the first cycle and just waiting it out in the second cycle, presuming enough is invested, but if Lidger might be aiming to be an active BTC investor, then at some point he might end up reaching his investment target and shift from accumulation into maintenance, and likely we do not have enough details to figure out when those kinds of thresholds might potentially be met by Lidger - presuming that he has thought through some of that as you suggest that he should attempt to do.


Yeah, I should have had mentioned that a lot of companies attempt to employ their salary employees in such a way that they are not allowed to have other work, and they are on-call to the company, even if they might be underpaid and even if there might be false representations that they are going to receive increases in pay, benefits and/or promotions.. which may or may not end up playing out.


Yeah.. some people do not feel that they have all of the skills to employ themselves and to promote their business, so there is a kind of security with getting a job with someone else - except as you suggested that working for someone else (a company) might end up being a kind of trap in which the employees are never really able to get ahead.


Of course, incomes might be able to be combined in a family situation.. but yeah no matter how you slice it, the working for someone else situation can be quite dire in some places if there might not be enough higher paying jobs in  order to bid up salaries, and if people do not feel that they have other opportunities, then they take those kinds of jobs with the belief that they might not have any other options - except like you say, if they are an entrepreneur then it could be possible that they could make a better life for themselves, but there is a lot of self-training and self-resourcefulness that is required from anyone doing their own business..

and frequently when they are first building their businesses, they might not get paid enough to live, but then if they keep building their business, it could well end up getting to the point where they can sustain themselves and then make equal to what they would make with someone else and then later start to make more than what they could have had made working for someone else.  they surely do not start out by making more.. it takes time to build a business, and a decent number of individual businesses end up not being successful.. which is another reason that people end up going with the sure thing that is not very good rather than the uncertain thing that might be better, but might not end up being better.


This thread is not about trading and/or selling as a technique to accumulate more bitcoin.

Sure selling and/or trading might have some kind of role for some people in some circumstances, but we are not talking about those kinds of techniques here.. especially if we might be referring to BTC accumulation techniques that involve various forms of buying... which is likely superior for most people anyhow.


Since  I cannot recall whenever you got into bitcoin, I will use your form registration date, so if you are barely into bitcoin, then you may well have more than 9 years to go during your bitcoin accumulation journey, yet I would suggest that if you are accumulating bitcoin for 10 years, you would not just transition into selling BTC (and buying cars or whatever, or even reinvesting into other kinds of investments), you are likely going to go through various transition times in which you accumulate bitcoin and you reach your target, but you still might not go straight to selling, but you might go into a stage in which you are either buying less or you are only buying on dips of certain levels. 

But even before you go into consumption goods you would likely invest into other assets before you go into consumption, and then even your earlier stages of increasing your consumption based on your presumptive higher wealth (based on your having had built up your bitcoin), you might use your new cash to either invest in other things and/or to consume, rather than selling your bitcoin.. even though surely there also could be ways that you might have reached your BTC accumulation target and you may have also exceeded your BTC accumulation target, so you might end up having extra BTC that you are then able to sell in certain circumstances that the BTC price is going up.

In the end, you can do whatever you want (even if it might be dumb things), but there are ways to transition between your various stages without overly consuming your BTC but still taking some advantages of that BTC wealth.. and the decision might not always be to sell BTC, even though if you are  in profits and the BTC price is moving up, there could well be ways that you can structure some selling on the way up that may or may not end up in some re-accumulation of BTC if the BTC price later falls.. but whatever your strategies, they would be more clear when you get closer to approaching points in which you have more BTC as compared with what you might have today if we can presume that you ONLY have less than a year of BTC accumulation under your belt.


Surely this part is true too.  So if you have spent time accumulating BTC, then you may well come to realize that you have more and more options, but one of those options should be to make sure that you hold onto a decent amount of your BTC, even if you might later start to engage in some selling techniques.

I had frequently considered that some people cannot resist trading, yet if they cannot stop themselves from trading then perhaps they could figure out some ways to put limits on how much of their BTC holdings that they are trading with, and even in one of the more aggressive scenarios, there could be cases in which any new cash that comes in, then at most then ONLY half of it can be used for trading, and the other half has to go into buying BTC and keeping that BTC investment stash completely separate and off limits, and sure if you are building your BTC stash by trading, then maybe every once in a while take some of that extra value and put it into the "off-limits" BTC stash that you are building, building and building.. but building through buying and adding to it rather than fucking around with trading. 

I would imagine that the BTC investing stash will grow more than the trading stash, and it could even be the case that the trading stash is frequently running out of money, but that does not mean that you can put more into the trading stash unless you put an equal amount into the BTC investing stash... That would be one of the ways to potentially temper BTC trading desires in order that you are still able to do it, but ONLY with around half of your budget and also folding in some of the trading profits (when they might come) into the BTC investment stash. .and trying NOT to get too greedy about the whole situation...since investing is likely superior to trading for an overwhelming majority of people, even though some people just cannot resist having some kind of a trading (and/or gambling) practice in the mix of their activities.


We are ONLY talking about BTC in this thread.  Fuck shitcoins.


I agree with your other points.


This is not completely wrong,and sure there can be ways to take profits at various points in time, but if you are still building your BTC holdings, then you might end up overly consuming if you have not built up a sufficiently amount of extra BTC in order to justify taking out enough to buy your 2026 or whatever model Range Rover.

For example, if a 2026 Range Rover costs right around $110k or maybe even more than that in mid-to-late 2025, and if you accumulated 0.5 BTC at $22k, then you had invested $11k into BTC and then when the price reaches $220k, then you are able to cash out your 0.5 BTC for your 2026 Range Rover.  What else do you have left?  Did you invest more into BTC  or did you blow your whole BTC wadd into a 2026 Range Rover?

Now, on the other hand, if you had been buying $100 worth of BTC per week for the past 3.5 years (since May 1, 2020), and you invested $18,600 and you had accumulated 0.8301 BTC, then you may well be in a similar position as the person who had bought his BTC at $22k, and so if you continue to buy BTC, and then the BTC price goes to $220k, by mid 2025, then you still may well be spending half of your BTC stash for a 2026 Range Rover.

You are free to make your choices about what to do, but you may well be engaging in over consumption depending on the size of your stash that you are spending for consumption, versus how much you might be able to put into BTC on a regular basis and/or your other strategies that might amount to gambling rather than investing.. and surely it seems that if you are still building your investment portfolio then you need to be careful on the consumption of extravagant, depreciating, expensive to maintain and showy consumption items, even though there could be some ways that you might be able to improve social status through the possession/ownership of such items.


What is a "long time" for you?  more than 4 years?  Are you going to keep buying BTC for the next 4 years or just sit on it?  Are you interactive with your investment in terms of continuing to buy?  And then another thing would be questions regarding making sure that your coins are secure.  It will not do you a whole hell of a lot of good if you spend time building up your BTC investment portfolio, but you are not adequately securing your coins.. So hopefully you are thinking about and acting upon better security practices rather than holding BTC with a third party (such as an exchange) if that might have been how you initially got involved in buying your bitcoin in those kinds of ways.

I am confident in this aspect that I can hold my investment for a long time because we have multiple sources of income and my father is a government employee so I may not have to sell my investment in case of financial need. Many people may not have the financial freedom I have and the opportunity to hold investments for a long time. There are many people who earn money by working hard and after earning money they invest a part of that money, compared to them it is very easy for me to invest and keep that investment for a long time.  

I respect those investors who work hard and invest in Bitcoin hoping for good things and they try to hold on to that investment for a long time even if they suffer a lot. Those who don't sell their investment despite having many shortages are the real investors.  
Since I will never need to sell the investment, I will try to hold my investment for as long as possible. If I am successful in the investment, I will discuss my investment with my family.

Why can't we put a budget on bitcoin profit? Op didn't say he has a time limit placed when he said he intend using the profit from his bitcoin investment to build a house. You and I know how highly volatile bitcoin halving is fast approaching. You don't know the size of his investment. I don't agree with you when you said we shouldn't place a budget from our bitcoin profits. So if I bought bitcoin when it was 22k and I have my sight placed at the peak of the bullrun season that is coming to take some profit, let's say middle of 2025 and buy myself a range rover. I'm I wrong to do so going by what you said. We all believe in the potential of bitcoin, and for me time is not a problem. I think it's not not wrong to have a projection of what to do with the bitcoin profits when you are holding a great amount of bitcoin at your disposal.

Buying a coin at a relatively low price and selling it at a higher price is what we generally consider trading. By investing we mean holding for a long period of time buying a reliable coin. There is a substantial difference between trading and investing. 

Trading is usually conducted by people like a business as in business a commodity is bought at a low price and sold at a high price, similarly in the case of trading any coin that is bought at a low price is sold at a high price. If investors are asked questions about investing, they will never say that they bought a particular coin and sold those coins at a higher price after a few days. By investing in Bitcoin we mean holding it for the long term as we mean Bitcoin. If the investment cannot be sustained for a long time then I think the investment is incomplete. 

You may have guessed that at the current rate of Bitcoin price it is impossible to buy all Bitcoins at one time. Nothing is impossible, everything is possible for humans. There are many people who buy many bitcoins and hold them for a long time. Our investment holdings are negligible compared to the way large investors hold their investments for long periods of time. Those with enough money to invest can purchase multiple bitcoins if they wish. If those who don't have enough money invest regularly, then one day they will own one BTC, only investors need to be consistent.

I will call those people traders, that bought car with their profit, and that is why their only investment is bitcoin. You don't expect me to have a bitcoin goal and after let me say 10yrs, I have reached my bitcoin target with so much endurance and patients, and I will then sell part of my bitcoin to buy a car that will depreciate in value as time goes on. Traders are the ones at urge to take profit and show off with their wealths and if you see them, that is what they will only be focused to because trading consumes time and needs 100% concentration to avoid loss but still they run at loss.

A long term investor needs other means of income and not even one so that he can reach his bitcoin goal and still be able to hodli his investment. For him to be able to be successful, he can use his bitcoin investment as what he uses to survive in life, this means that he will keep on selling and selling and selling until he has no more bitcoin, since he doesn't have any source of income. This was why I stated above that the person is a trader, because people like MicroStrategy have their investment running and they are diversifying some to bitcoin.

When you are investing it bitcoin doesn't mean that you have a complete guarantee that you must make profit and that the price will keep going up,  this why  you need a means of income can you are using to build your investment portfolio and  also to take care of your responsibilities because you need to survive, so that when the price of bitcoin goes very dip, you don't lose hope and sell all of it to survive, or when bitcoin turns to zero which has a slim chance of happening and you funds in bitcoin is gone, you can continue with your life and accept the loss. It is not advisable to only think one on direction for bitcoin price which is going up, even though the odd is high that the price might keep going up because it will make us make the wrong decisions that will lead to regret later in life.

That is not the right thing to do if you want to benefit more from your bitcoin investment portfolio, because the longer the timeline of your investment, the higher the chance that you have to increase the size of your portfolio and the higher the chance of making profit. Bitcoin sold cannot be bought back easily with the same amount that you use to buy the previous. This is why it is better to have a bitcoin target and work towards achieving that goal no matter the number of years as long as you are consistent with your regular DCA, you can achieve it.

Another thing you should look into is that it is not easy to know the bottom line of bitcoin price and that is why you might end up missing out after you must have sold all your bitcoin that you bought. Don't think like traders, think like an investor on a long term bitcoin journey.

If bitcoin has only gotten more expensive over time, it's probably going to be problematic to buy a whole bitcoin in the future. The only thing that can be done is to follow cycles and sell when the top is up, then buy at the bottom in parts. But even in that case you would need to spend a lot of time.

Actually you are right and theirs something you have to understand for investment, this investment we do emphasise on, its a something that deals with advantages and disadvantages and since it happens to occur in both side anything can happen during the investment, any investor should primarily and secondary plans and the secondary plan should be back up of the investment, you can only think of developments or infrastructure as a business when you have accumulate more, and whenever you start your infrastructure it will not affect your business plan's,  that's the reason why we do say concerning bitcoin investment that investors should invest what they can afford to lose because you can lose at any point in time, and also diversified your ways of generating income, bitcoin is investment and everytime people do look at like something that have a specific period you will invest and make profit, so I do refute such because theirs no particular time that is seasonal for profit making in any investment, so investment is all about risk.

Regarding with your father have been on dependent financial condition its enough reason for spending all his salary payment from government in bitcoin, but you need to educate your father first what is bitcoin and how to get advantage or profitable trough bitcoin investment. You have good ideas when spending all money receiving from your father in bitcoin because still have another passive income make it easily how to spent as much money possibility for investing in bitcoin. You should be diamond hand with bitcoin holding exactly you not face difficult with financial condition and not urgent needed have to sell bitcoin.

I believe with several months later bitcoin halving have potential your investment increasing drastically, no doubt with bitcoin potential in the future and your decision all out in bitcoin investment is most perfect thing.

Perhaps as an investor your plans shouldn't be the house you could possibly built from your returns on your Bitcoin investment because it could affect your emotion if the plan doesn't work the way you expected, perhaps it was due to this kind scenario that it was advised never to see an investment as a get rich quick because investment on Bitcoin could take a lot of years and not even certain that you could meet a good return by then.

I know that we all have a high expectation on Bitcoin investment but that doesn't mean that we should put or set a budget to achieve using the profits realize from our investment we did on Bitcoin, for me is not a wise plan, the best way is just to manage your budget using other means and leave your investment to keep running because if you put all your hope to build a house from the returns you get from your Bitcoin investment it might take longer than you expected and depending on how much you investment.

You have just give a typical example of our country Nigeria were some company would have to occupy their workers 24/7 working for them and they get paid peanuts I mean, they are under paid and yet doesn't allow people to look for additional source of income to keep their financial life afloat while they still working with them. I can vividly remember my Aunt working with a company then before she resign of that place was that she had no time for family especially her kids and the husband she was giving the company and 24/7 attention without drawing a proper map of her family to know how to situates and diversified her finance and was just working and spending on the family with mindset that her salary would be increased.

Along the line her husband isn't that comfortable with the whole working process and asked her to quite because she was only getting used by the company while they boost their income/GDP, and enslaved their worker to keep working for them, their salary were less than 100$ then, per dollars was around NGN 495, even some government workers then were being underpaid especially those we calls civil servants and most of them do not own a personal property due to the minimal amount they are being paid for the month and per year just as you said I can basically say that our country is another good place to point out and the only way to survive is being self employed Yes! Because one can do business and get 10x of the amount being offered by some offices or by some companies, anyone who is working with the government are indirectly or directly enslaving themselves.

Lets do small mathematics:-
If a company or a civil servants are being paid less than $100 (90$ at the rate of 1125 Naira) in my country, finds out how many years it would take them to build a house of at least the minimal 2 bedroom flat.
... Let say their salary is $90 x 1125 = NGN 101,250, then ($90 x 12 = $1,080)
Removing savings let say 30,000 - 101,250 = 71,250 remaining
Then we also remove house rent 30,000 - 71,250 = 41,250 remaining ( Our house rents are being paid yearly)
Removing feeding 20,000- 41,250 remaining 21,250
Then we can say the remaining 21250 is for billings and reserved funds..

So let do the remaining balancing.. main salary 101,250., everything as substracted will be multiple by 12  months (1 year) to know how long it would take any one being paid 101,250 (90$) to own a house.

Savings 30,000 x 12 = 360,000 per year
House rent 30,000 x 12 = 360,000
Feeding (foods stock) 20,000 x 12 = 240,000
Billings 10,000 x 12 = 120,000
Reserved fund 10,250 x 12 = 123,000

Then at least to finish and furniture a two bedroom flat in my country depending on the location is about 15, million for PortHarcourt Rivers State, for Lagos 30 million, for Abuja is 70 million above these depends on the land locations in those states.

We now used the total savings to be divided by each state to know how many years one needs to do a job of 90$ to get a house in my country.
15,000,000 / 360,000 = ~ 42 years, In Portharcourt River's state, 83 years for Lagos while Abuja is 194 years. Lols this till the next generation they won't be able to complete such building in that last place. This is to show how some people are homeless and can't afford any single property of their own. That's why we need a personal business and not to get enslaved by any companies or under paid offices.

Your father is a successful businessman and a successful entrepreneur and you are his son, as his son I think you are headed in the right direction. Your father gave you financial freedom and your father allowed you to spend money in wrong ways. You're keeping your father's word because you invested in Bitcoin instead of spending money the wrong way. I read your post carefully and from reading your post I understand that you want to invest in Bitcoin and give something good to your father at the end of a certain period of time. If you want to give your father a gift from some good investment at the end of the specified period, then there are some things you need to follow. 

*First of all you are a bitcoin investor so as a bitcoin investor you need to be patient enough and don't lose faith in the market due to temporary volatility in the market. 

*Second, always focus on your target, you must hold your investment till the time you want to invest, hold your investment deeply until your target is met. 

*Thirdly, after investing you should forget that you have this amount of investment, all kinds of financial problems you will try to meet in some alternative way. Try not to sell your investment prematurely. 

*The fourth thing is to have confidence in your investment and if you have the money to invest later I would say you should definitely keep increasing your investment. 

If you can follow these things then I believe you will be able to give your father something good at the end of a certain period of time.

I don't have any problem with your overall idea Lidger, but I question the extent to which you are following your father if you are also not attempting to involve yourself in various kinds of work that help you to diversify your income sources.  It seems hard for anyone to say that s/he merely invested money that he got from someone else without figuring out some areas of interest in order to have skillsets as potential back ups..

I also do not necessarily have any problems with the idea that you might want to specialize learning about bitcoin, and perhaps even acting in bitcoin too, whether that is learning how to code or how to mine bitcoin or even other ways of involving yourself in bitcoin (investing your time) that go beyond merely stacking sats (especially if you might still be a relatively young person).   Sure, there may not be any problems with investing in soft skills rather than hard skills, even though it seems to me that you are not necessarily following in the footsteps of your father, unless you are saying that your father has ONLY been a passive investor in his various businesses, which sure could be possible, but that does not seem to be the way you described the situation of your own fathers working background and/or his developing involvement in a variety of businesses. 


Of course there are differing customs all over the world, but some professional positions do not really allow people to have other jobs and/or other sources of income, and some of those positions might start out at more than $100k per year out of college and have upper salaries in the millions per year.

Sure those are not typical jobs, but your advice of multiple jobs do not necessarily apply to a variety of high paying professional positions that exist - especially in the west.. and yeah, maybe some of those kinds of positions likely exist in poorer countries too.. so for example, if a company hires corporate executives (or even start-ups), they might not want those people to have any other jobs, and they may or may not start out at high pay, especially in start ups, and some of them might get paid with company stock (equity) rather than receiving very much pay because maybe the company does not have a lot of extra cashflow, but they are looking for folks who are going to be dedicated 24/7 (or maybe not that much?) to carrying out their duties to make sure the company succeeds.   

I think there are many people every year who have built or bought a house from the Bitcoin they earned and I have also witnessed that with my own eyes over the years. And if you also have such intentions someday, I think that is also quite good although it is not that surprising for me personally because I have seen several people around me who do things like that even though they don't name their house after their own parents after they succeeded in building it slowly.

Bitcoin has become the hope of many people today so the implementation of Buy the DIP, and HODL! It is still very appropriate for everyone who believes in Bitcoin to be an asset for their future to continue because it has been proven to be good for everyone. Apart from that, I have also seen that there are many people who have been able to buy vehicles after implementing investing in Bitcoin as their important work in life, even though there are many methods that they have used to achieve success or goods that they dreamed of in the past.