Topic: Buy the DIP, and HODL! - page 37. (Read 121732 times)

There are two things involved when one Procrastinate to buy bitcoin, you may think the price will come down the way you wish in the future but it can come to your surprise the price will even increase more compare to before and when you really want to buy you may not have enough fund with you to buy because of so many other things you need to meet up with.

MICHAEL SAYLOR: “There’s never a bad time to buy Bitcoin.

Buy now to avoid future regrets. Otherwise, you will keep on missing the opportunity to buy bitcoin while the price is still not too high. Don't be like others who procrastinate and get influenced by others on their decision making, instead do your own research and analyze the best thing you can do for now, so you won't keep regretting in the future wishing you never doubted the price of bitcoin.

You are absolutely correct, some people think that since DCA is the best and reliable strategy that success is sure or certain not knowing that they are the one that will make the strategy work. Someone's success in Bitcoin investment whether using the DCA, lump sum, buy Dip depends on the investor's consistency, discipline and the ability to manage investment and I want to let us know that every individual has an atom of management skill in them but is just left for them to build or grow it.

The price of Bitcoin can never remain stagnant for a longer period, Bitcoin is not a stable coin and therefore it would always experience volatility, but the good thing about investing for a long-term is that the investor would always recover their lose from any dip whenever there's an upsurge and that's just it, an investor mustn't wait to make 2x or 3x before they'll say they've profited from Bitcoin, the profits comes periodically at every upsurge you encounter while using the DCA method, investors should understand that Volatility is never a problem for long-term investment with DCA so far they go funds to continue buying.

An investor would only be successful with the DCA method when they maintain consistency and carry out discipline in managing their investments, infact those are the basic things every investors are supposed to understand while o their investment journey. One thing that's been repeatedly been talked about concerning Bitcoin investment is that volatility must always occur therefore every investor must experience lose along the line but then the DCA method enables investors to recover your lose when there's an upsurge and so far the investor continue buying periodically using that particular method for a longer period then success is definitely guaranteed.

Bitcoin is a volatile asset and so there's no guarantee that you will get 2x or above that amount from your investment at the end of the year. Realistically, thier might be years when we are not all that profitable with our investment and Bitcoin might remain at a certain range of price for a long time during some years before we tend to see anything close to 2×, 3× or so as you may have it.

That's basically the whole essence of long term investment and the application of the DCA methord in doing so because while you're investing for the long term, even when you don't see yourself in a good profit at certain time, you just take it as an opportunity of buying more Bitcoin and to continue doing your DCA till you reach your accumilation goal.

You are absolutely correct, some people think that since DCA is the best and reliable strategy that success is sure or certain not knowing that they are the one that will make the strategy work. Someone's success in Bitcoin investment whether using the DCA, lump sum, buy Dip depends on the investor's consistency, discipline and the ability to manage investment and I want to let us know that every individual has an atom of management skill in them but is just left for them to build or grow it.

I agree with you that using the DCA method to accumulate Bitcoin does not guarantee that we will be getting two times our investment at the end of the year because Bitcoin prices can stay stable for several months. The DCA method is easy to understand, but it is dependent on the amount of money and how the individual wishes to invest. However, some individuals who invest using DCA methods, invest once a week, whereas some buy once a month, however, it's necessary to understand that the DCA method is always profitable for long-term investors.

Furthermore, using the DCA method requires an ongoing strategy where buyers are not bothered by the changing price of Bitcoin and continue to accumulate for a long time because the specific purpose of using the DCA method is that you can buy at a high price and buy at a low price for a long time until the investors become successful with their investment.

You just hit the nail at the head those that stop accumulating Bitcoin now will definitely regret not accumulating Bitcoin now because they believe or think that the price of Bitcoin is high now will definitely miss out the opportunity of accumulating enough Bitcoin believing it's price will go down but might keep on increasing in price.

Procastination is never good when it comes to Bitcoin investment I will buy next month not this month that is how the opportunity of accumulating more Bitcoin is passing by the best is to start accumulating Bitcoin now regardless of the price level on continue to hodl because BTC will definitely do well in the future, with the DCA method of accumulating Bitcoin one can buy little by little either weekly or monthly and hodl than waiting for the price of Bitcoin to drop before accumulating Bitcoin.

To the people who have not started accumulating because they believe that October will merely be another month of price compression,

- You might be right, BUT when you go to October 31, see the price, AND you're wrong, YOU WILL be begging to GOD to give you a time-machine for you to go back to this day and BUY Bitcoin with EVERYTHING in your bank account.

This chart is posted in OP, and it's the only chart that you need to see, https://bitcoin.zorinaq.com/price/

ZOOM OUT.

To the people who have not started accumulating because they believe that October will merely be another month of price compression,

- You might be right, BUT when you go to October 31, see the price, AND you're wrong, YOU WILL be begging to GOD to give you a time-machine for you to go back to this day and BUY Bitcoin with EVERYTHING in your bank account.

This chart is posted in OP, and it's the only chart that you need to see, https://bitcoin.zorinaq.com/price/

ZOOM OUT.

I partially will disagree on this not all are dependent, some are independent as well. The  term likely to be used is "Bitcoin correlation". Bitcoin is said to be highly correlated to as many cryptocurrencies, mostly the top ones but we can not generalize it to all. There are some cryptocurrencies whose price movement is not affected at all by the fluctuation of Bitcoin prices. Price movements on this cryptocurrencies are dependent on so many other factors including the potentials of the coin and what it was created to serve, since they are not decentralized as Bitcoin, partnership can also play massive role when dealing with the price fluctuations.

Bitcoin is the forerunner of all cryptocurrency exchanges, which we can see that the whole world has seen the rise of cryptocurrency through Bitcoin. Simply put, Bitcoin reigns supreme when it comes to cryptocurrency discussions.
 Based on the market performance we can say that investing in Bitcoin is a safe option, but the growth of Altcoins is fast and phenomenal. Besides Bitcoin we can dip other Altcoins because there are many Altcoins which have increased by almost 1000% in 4 months. With such gains comes risk although Altcoin dips will be riskier than Bitcoin dips.

Bitcoin is a volatile asset and so there's no guarantee that you will get 2x or above that amount from your investment at the end of the year. Realistically, thier might be years when we are not all that profitable with our investment and Bitcoin might remain at a certain range of price for a long time during some years before we tend to see anything close to 2×, 3× or so as you may have it.

That's basically the whole essence of long term investment and the application of the DCA methord in doing so because while you're investing for the long term, even when you don't see yourself in a good profit at certain time, you just take it as an opportunity of buying more Bitcoin and to continue doing your DCA till you reach your accumilation goal.

To the people who have not started accumulating because they believe that October will merely be another month of price compression,

- You might be right, BUT when you go to October 31, see the price, AND you're wrong, YOU WILL be begging to GOD to give you a time-machine for you to go back to this day and BUY Bitcoin with EVERYTHING in your bank account.

This chart is posted in OP, and it's the only chart that you need to see, https://bitcoin.zorinaq.com/price/

ZOOM OUT.

Exactly the point buddy, the major concentration and mindset of many bitcoiners here is the long-term goal achievement, we are not just talking about buying because one can keep buying and get discouraged on the way because of lack of planning and inability to realize that as an investor you don't need to invest all your earnings, there should be funds left for an investor carter for other needs that's why @JayJuanGee with other active participants here always talk about DCA mathod because it enabled you to invest with the little you can gradually, continuously and steadily without stress, this method gives you room not to invest in way that surpass your financial ability, am happy that you are now finding this thread interesting.
This DCA method was introduced to allow people to buy the amount they can not minding the price of Bitcoin at all tome

I think Bitcoin investment would have been for the rich alone or people that has lump sum amount but with this DCA method, every interested individuals have a stake in Bitcoin as far as they DCA with what they can sustain continuously, we should also know that DCA method is a smart method of investing in Bitcoin because it gives us the opportunity to keep acumulating Bitcoin in smart way that will surprise any intending or existing investor that keeps waiting for the dip to come before they can start buying which might not come, with this method the price of Bitcoin doesn't matter to you since our mindset is centered on a long-term which is the major reason for the investment.

Yes, definitely every hodler will have different result as you said not only because of the price but the amount they are DCAinv with, every individual has an amount they are DCAing with monthly or weekly which may also change as time goes by, so their holdings will never be the same irrespective of the price of Bitcoin.

This is a well-detailed response to clarify @Callido thank you. It's best if we all know who is superior to others and in this case, Bitcoin is superior irrespective of shitcoin being depended on it. Bitcoin movements indeed tend to affect shitcoins but there are times when Bitcoin goes down and then some shitcoins still manage to retain its price or go up. Apart from Bitcoin, other factors affect shitcoin and that shouldn't even be discussed here.

Sometimes people need to be taught a lesson by themselves so that they can realize their mistake and stop thinking investing in shitcoins is a way for diversification. Meanwhile, it's just a distraction that keeps them away from staying consistent in their Bitcoin investment. If they want to make money quickly then they stop deceiving themselves of Bitcoin investment and go astray with shticoins.

It's so sad that we can guide people but anyway, they will still make their own decisions. As long as people think they can get rich quickly there will be shitcoins everywhere. Fuck it!

Within this responsive post, I fixed your quote Justbillywitt.

I like to think about emergency funds and reserve funds as two type of back up funds, and emergency funds are the last step prior to touching your BTC, so emergency funds should never be used for anything absent an actual emergency, and if you end up having to dip into your emergency funds for anything, you should be wanting to replace them as soon as possible so that you are prepared for any emergency that might end up happening.

If you are largely taking cashflow and keeping reasonable amounts of cash cushions and even investing into bitcoin in reasonable kinds of ways, even if you are aggressive in your bitcoin investment, you should still not be having emergencies, and if you have ever noticed folks who are not very good at managing their cashflows, they are frequently having emergencies, so you shouldn't want to live in that kind of a way, and part of the benefits of having organized finances is to have some calmness because you live within your means and you maintain various kinds of cash cushions that you respect, and if you violate them, you are purposefully doing so and maybe not very often, especially in regards to keeping at least 3 months of emergency funds available in case some or all of your income dries up or you suffer from some unexpected expenses that are beyond normal kinds of unexpected expenses that sometimes might happen from time to time.

Reserve funds have less priority than emergency funds, and they can be designated for a variety of things, yet it seems likely that almost any of the reserve funds would be tapped into prior to tapping into the emergency funds.. that is unless you have extra emergency funds and if you have extra emergency funds than the extra portion of your emergency funds might merely be serviing as some kind of a reserve fund, since the actual emergency funds should not be touched absent an actual emergency.

Sometimes we might be arguing about semantics, and maybe it does not matter so much what we call the various funds; however, sometimes the way that we call the various kinds of back up funds can help us better to understand how to use such categorizations to help us to achieve some of our objectives, and  if we are trying to put ourselves into a better financial position and we would like to accomplish getting as rich as we can as fast as we can, without putting ourselves too much at risk, then sometimes we still should have patience in regards to how long it is going to take and to try to solidify our practices so that we don't end up rushing ourselves so much that we end up recking ourselves by engaging in gambling rather than investing.. So the reasons to have these protections in place is to help us to achieve our objectives in terms of doing as well as we can based on our own financial and psychological circumstances.

For example, let's say that we usually invest into bitcoin around $100 per week, yet we still have another $100 per week that we set aside for various kinds of extra expenses that we might have, and maybe we might sometimes allow the other $100 per week get to a certain size before we start to buy bitcoin with it, yet if we know that we have some extra expenses coming up such as we know that 1) we have to take our spouse on a trip in one month that is going to cost around $500 (this solidifies our spousal relationship), 2) we know that within the next month or two we need to update our computer & phone which is going to cost $1,100 (this improves our productivity and may even allow us to earn more income), and 3) within this same month, we also have pretty much promised to buy our kid a bicycle for $200 (this is an obligation that we have). We can see that our total extra obligations within the next month or two is around $1,800, and if so far we have saved up $1,200, then we pretty much are on track to have all of the money within the next 6 weeks - however, if suddenly our car breaks down, and we have to take $500 from our reserve fund to cover that car expense (especially if we might have to use our car for our work), then we are faced with a bit of a dilemma regarding how to prioritize our expenses, which also might mean that we might have to reduce our BTC investment during the period that we are meeting those obligations.  So probably we would take from our various reserve funds prior to touching our emergency funds, and we might even have to cut back on buying BTC prior to completely depleting our reserves and/or having to be in a place that we would have to tap into our emergency fund.  Sure the car breaking down could nearly rise to the level of an emergency, and surely the car could end up breaking after we had completely depleted our reserve funds, and sometimes, we might end up getting ourselves into a kind of tough situation if we don't have enough reserves to cover all of our expenses.. yet we still might have to figure out how to prioritize them within our own set of priorities.

We talking about real investment here in this space and not about gambling with money through altcoins as you suggested. True bitcoin has been phenomenal and has paved way for other cryptocurrencies to enter into the market but bitcoin is entirely different from altcoins. And every dip in bitcoin price is more like an opportunity for a DCA investors unlike altcoins where almost any dip can send those shitcoins to a journey of no return (dump). No experienced investor that want to invest long will buy the idea of investing in an altcoin except there's some sort of ignorance somewhere in the middle.

Within this responsive post, I fixed your quote Justbillywitt.

I like to think about emergency funds and reserve funds as two type of back up funds, and emergency funds are the last step prior to touching your BTC, so emergency funds should never be used for anything absent an actual emergency, and if you end up having to dip into your emergency funds for anything, you should be wanting to replace them as soon as possible so that you are prepared for any emergency that might end up happening.

If you are largely taking cashflow and keeping reasonable amounts of cash cushions and even investing into bitcoin in reasonable kinds of ways, even if you are aggressive in your bitcoin investment, you should still not be having emergencies, and if you have ever noticed folks who are not very good at managing their cashflows, they are frequently having emergencies, so you shouldn't want to live in that kind of a way, and part of the benefits of having organized finances is to have some calmness because you live within your means and you maintain various kinds of cash cushions that you respect, and if you violate them, you are purposefully doing so and maybe not very often, especially in regards to keeping at least 3 months of emergency funds available in case some or all of your income dries up or you suffer from some unexpected expenses that are beyond normal kinds of unexpected expenses that sometimes might happen from time to time.

Reserve funds have less priority than emergency funds, and they can be designated for a variety of things, yet it seems likely that almost any of the reserve funds would be tapped into prior to tapping into the emergency funds.. that is unless you have extra emergency funds and if you have extra emergency funds than the extra portion of your emergency funds might merely be serviing as some kind of a reserve fund, since the actual emergency funds should not be touched absent an actual emergency.

Sometimes we might be arguing about semantics, and maybe it does not matter so much what we call the various funds; however, sometimes the way that we call the various kinds of back up funds can help us better to understand how to use such categorizations to help us to achieve some of our objectives, and  if we are trying to put ourselves into a better financial position and we would like to accomplish getting as rich as we can as fast as we can, without putting ourselves too much at risk, then sometimes we still should have patience in regards to how long it is going to take and to try to solidify our practices so that we don't end up rushing ourselves so much that we end up recking ourselves by engaging in gambling rather than investing.. So the reasons to have these protections in place is to help us to achieve our objectives in terms of doing as well as we can based on our own financial and psychological circumstances.

For example, let's say that we usually invest into bitcoin around $100 per week, yet we still have another $100 per week that we set aside for various kinds of extra expenses that we might have, and maybe we might sometimes allow the other $100 per week get to a certain size before we start to buy bitcoin with it, yet if we know that we have some extra expenses coming up such as we know that 1) we have to take our spouse on a trip in one month that is going to cost around $500 (this solidifies our spousal relationship), 2) we know that within the next month or two we need to update our computer & phone which is going to cost $1,100 (this improves our productivity and may even allow us to earn more income), and 3) within this same month, we also have pretty much promised to buy our kid a bicycle for $200 (this is an obligation that we have). We can see that our total extra obligations within the next month or two is around $1,800, and if so far we have saved up $1,200, then we pretty much are on track to have all of the money within the next 6 weeks - however, if suddenly our car breaks down, and we have to take $500 from our reserve fund to cover that car expense (especially if we might have to use our car for our work), then we are faced with a bit of a dilemma regarding how to prioritize our expenses, which also might mean that we might have to reduce our BTC investment during the period that we are meeting those obligations.  So probably we would take from our various reserve funds prior to touching our emergency funds, and we might even have to cut back on buying BTC prior to completely depleting our reserves and/or having to be in a place that we would have to tap into our emergency fund.  Sure the car breaking down could nearly rise to the level of an emergency, and surely the car could end up breaking after we had completely depleted our reserve funds, and sometimes, we might end up getting ourselves into a kind of tough situation if we don't have enough reserves to cover all of our expenses.. yet we still might have to figure out how to prioritize them within our own set of priorities.