Topic: Buy the DIP, and HODL! - page 38. (Read 129046 times)

I had to check the rank of @Student of Bitcoin and @Wolf of One Street, to be sure that they're newbies for asking these questions. And since they're newbies, I guess that I can excuse their lack of proper knowledge.about the best option for crypto investment and what DCA method means. Thankfully, @Justbillywitt, has done justice to that by summarizing the answers to their questions, and it's now left for the two newbies to take it up from there and increase their knowledge. The answers that were given to them are very easy to understand as far as I'm concerned, DCA is not an investment but a method to periodically accumulate Bitcoin, preferably weekly or monthly. Also Bitcoin is the most reputable cryptocurrency that has proven to be a store of value, you accumulate over a long period of time and at every circle you'll continue to get ROI. Most altcoins are shitcoins, you'll be gambling your funds in the process of chasing quick profits on the short term.

I believe that the point that @JayJuanGee, is hitting at is that newbies shouldn't ask unnecessary questions especially when the answers have been given. They should read more, be active in the forum to increase their Bitcoin knowledge, then only ask questions where there's a confusion for them, inorder to get clearity. But questions becomes irrelevant and unnecessary when answers have been given.

What you are thinking deeply about the DCA strategy is not mentioned here. And also I don't think the investor needs to think too much and be experienced to invest in this method. Maybe within a few pages of this thread recently a new member asked how this strategy works or how to invest using this strategy. Many members have given the correct answers, you will get the answer immediately after reading them.

I may have shared a link for newbies about DCA in an earlier post and am sharing that link again so that you can get an idea about DCA very easily.

(What is dollar cost averaging?)= https://www.britannica.com/money/dollar-cost-averaging

Showing a little effort can surely be helpful, and if there is grappling with the materials, then any questions and interactions would be better informed by such grappling with the materials.


Why don't you explain what supposed deep thinking that you have done about DCA.

I've been deeply thinking of this DCA, how does it really work?

Everything you need to know about the DCA are here in this thread. All you have to do is read through some pages of this thread and you will get everything you need to know about DCA strategy. I don't have to explain it to you again.


That's the problem I have with some newbies of nowadays, they are just too lazy to read. They just everything to be served on their table. This is a thread that has discussed extensively about the DCA and other strategies of buying bitcoin, yet here we are, someone is still asking that I should explain how DCA works. Instead of going through the thread to read and digest more knowledge himself.

Just as Justbillywitt said, the DCA is a method of investing in Bitcoin that allows all class, both the whales and shrimps to accumulate Bitcoin Periodically over time and with a certain amount of their choice so far they've got a stable income to continue investing. Bitcoin investment is best for long-term and the DCA method is one of the easiest methods used in accumulating more Bitcoin to your portfolio and one good thing about this method is that volatility is not a big deal to it cause it helps recover loses overtime, all the person using this method just need is a stable income to invest periodically you don't need to wait for price dip to invest so far you're using this method. For instance if you're a salary earner or business person you could decide to use about 30 to 50 percent of your income to buy and hold Bitcoin maybe weekly or monthly and it's to be done for long-term, talking about long-term i meant 4 to 10 years not a year or 2 years interval. If you ain't okay with this explanation, just keep following the thread and you'll get more.

How much of the thread have you read?

Perhaps you should show a little proof of work instead of merely dishing out assignments.

From the little I have learnt about the DCA strategy while moving around the forum, the DCA strategy is a strategy that helps investors to accumulate Bitcoin on basis either weekly or monthly irrespective of the price points, and it is very powerful if applied with consistency over a long term period of time, since not everyone have the money to buy Bitcoin in a larger quantity the dac strategy makes it easier to accumulate Bitcoin within your convenient of your financial levels without any form of making investment decisions under pressure. It also allows new investors to gain experience by having Bitcoin in their possession while already in the market, what to know about the DCA strategy are very many maybe other user can throw more light on it.

Although that advice is very VERY effective especially during the last bear cycles, I CANNOT take any credit from making that advice because Buy the DIP, and HODL has always been one of the main investment philosophies of Bitcoin HODLers since Bitcoin's early days. I merely learned from those very smart and intelligent people.

 

Can you explain better what and how this DCA works?

I've always wanted to learn better ways to get and accumulate Bitcoin, I've always wondered how it works and now I understand why many bought so much of it when it was around 60k.
Great advice..

The DCA method is not an investment itself, rather it is one of the methods that are utilized to invest in bitcoin. The method is very easy to use and it's very efficient. The method allow you to invest certain percentage of your weekly or monthly income in bitcoin, on a regular basis. This method is suitable for all levels of investors. And as a beginner you should embrace it.

My advice to you is to stay away from Meme coins and shitcoins. You are going to get into trouble when you venture into those shits stuffs. Let your investment remain in bitcoin only. Bitcoin will not fail you, but the moment you venture into meme coins and shitcoins, you have given yourself up to a scam and your investment is out of your control, so stay from them.

I agree with you on this one, this is one of the reasons having a reserved funds is important one don't have to wait for a dip to happen first before they can start accumulating, one can start accumulating using the DCA strategy and when there's a dip he or she can just dip hands into his or her reserved funds to accumulate more, some people who are using the DCA strategy to accumulate weekly or monthly has a very good reserved and emergency funds so when ever there's a dip they accumulate so much.
All you need to do is start accumulating your reserved funds along side your Bitcoin accumulation instead of waiting for a dip which may not happen for some period of time, now if a dip later happens you can still buy with your reserved funds and if it didn't you can still continue your accumulation this way you didn't lose however those that are waiting for the dip and it didn't come has wasted there time and has not Accumulated any Bitcoin.

Bro I know that you are new and you are just uniformed and asking the right questions is a very good step in the right direction, the DCA accumulating strategy is actually the best way to accumulate Bitcoin, it's a method where you buy Bitcoin bit by bit, either monthly or weekly, according to how much you can do away without, and if you are consistent in it, before you know it you will be able to accumulate more Bitcoin than you can ever imagined.


 
Then as for this, don't ever think of going in that direction, because in this crypto space, the easiest way to get burnt is by investing in meme coin or shit coin as we normally call it, because they normally falls more than they rise and they are mostly pump and dump scheme that most of these developers use in milking investors of their hard earned money, so keep off from any coin that isn't Bitcoin.

Since you are still a newbie i feel you are naive about the kind of investment you should invest on that's the reason why you are talking about shitcoins but to put it straight to you, Shitcoins have no future therefore risking your money on them is worthless. Never you consider investing on shitcoins just because you feel the price of bitcoin is high. The price of bitcoin being high does not mean you can't still afford it again, you can still use the DCA strategy to buy and Hodl NO matter the quantity you can only afford to buy. Bitcoin will still skyrocket further so if you are having the feelings that the price is too high now and fail to start accumulating, what will happen when the price gets to $100k and above? It's never late to start investing at any price point and that is why the DCA is a convenient strategy to help you acquire bitcoins part by part without having to be afraid of the price.

However, our area of concentration in this thread is STRICTLY bitcoin and not any God forsaken shitcoins, altcoins or memecoins.

Maybe it's been said too many times in this thread, you don't need complete experience with Bitcoin to invest using the DCA strategy, just knowing the basics of investing you can start investing using this method very easily. Investors need a definite plan before investing and have a mindset of holding the investment for a long time. Be prepared to buy immediately/regularly at any moment in the market i.e. ups and downs.

Financial management is of immense importance to any investor before starting investment i.e. ensure a fixed source of income before starting your investment. You should also arrange for an emergency fund or reserve fund so that your investment does not stop in the moment of danger. Ensure the security of the wallet where you keep your invested bitcoins. The more secure your wallet, the safer your investment. Securely protect the wallet seed phrase correctly.

Finally, take the time to scroll through the posts in this thread on a few pages, maybe you'll learn a lot about investing in the DCA method.
Based on the posts and content of this thread you should probably understand that this is not the place to discuss meme coins or sheet coins. Which coin you invest in is up to you. Instead of discussing Meme coin or Shitcoin here you go to trading discussion or alt coin discussion thread, share your experience with alt coins there.

Don't put your money in shitcoins as this are unreliable coin to invest on as you may regret at last if you do.
Bitcoin is a potential coin and also the best coin to invest on and also as a leading coin among all coins.
For you to invest into Bitcoin you will need to a source of income so you can be able to carry your Bitcoin investment for long but if you know you don't have a better source of income investing in Bitcoin will be tiring to you because you have enough fund to increase your Bitcoin stack which you may decide to sell because of personal needs.

There are important things you need to set aside before you can be able to hodl your Bitcoin for long for about 4-10 and above your emergency fund reserve fund and float fund and also your discretionary income which can sustain your Bitcoin investment as time goes on.

Investing with DCA strategy is easy if you have a good cash flow because this will make you to accumulate more Bitcoin little by little regardless of Bitcoin price either weekly or monthly and keep hodling for long.

Forget about shitcoins and focus on Bitcoin.

Bitcoin price has touched $79.5k. the increase in price does not stop you from buying bitcoin through DCA as DCA is a continuous way of buying bitcoin without considering the price.

Fuck memecoin fuck shitcoin. BTC is making a great move yet you are talking about memecoin.

Even though it's not advisable to wait for a DIP before starting to make accumulations but we cannot say that someone who is waiting for a DIP may lose the force they should have used in meeting up their target because some people can get lucky to wait for a DIP and utilize every missed opportunity to buy as many as they can when the DIP arrives, so volatility is just one thing we should be conscious of why making accumulations because inasmuch as the price can increase rapidly within a short interval of time, same way it can reduce drastically in a short interval if the market is being affected by a negative news.

The truth is just that anyone who have a long term target only needs to have emergency funds, reserved funds and continue their accumulation with the DCA strategy, if a DIP arrives they can equally buy with the reserved funds and increase their Portfolio.

Yes the DCA strategy is one of the best strategy for accumulating bitcoin since it offers you the opportunity of accumulating bitcoin with the discretionary income you have in your disposal at regular intervals be it weekly or monthly.you can start with the discretion you have in your disposal be $1k and also don't allow the recent  price of bitcoin to discourage not  to start your bitcoin accumulation because so many has made same mistake in the past and they have miss so many market opportunities all in the name of waiting for a favourable price before they start there bitcoin .i would advise you start with the dca strategy once you have  the discretionary income in your disposal and them hold your bitcoin for 4-10yrs or more. Waiting is not a strategy in accumulating bitcoin and shouldn't be waiting for bitcoin to dip before you start your accumulation journey.bitcoin is a potential and  can't be compare to shitcoin or memocoin so i say fuck shitcoin , focus on accumulating bitcoin and don't allow yourself to be distracted by shitcoin