Topic: Buy the DIP, and HODL! - page 396. (Read 108321 times)

If you continue to worry about the price in your DCA method then this will hinder you, it could be that you keep thinking about the price that has started to rise while still hesitating to continue? I think this thought must be eliminated at least whatever the price is if it's the DCA method then just do it.

This was my initial problem too when I started it was really hard when I kept seeing price movements, if you keep thinking about this then investing in the DCA way will not develop but you will be reluctant to continue because you keep seeing prices.
If the goal of DCA is long-term, there is no need to worry about it, it should be a habit for us that there is no stopping to continue DCA.

You misunderstand here friend because we are not discussing about how bitcoin grows but we are discussing the strategies that are carried out when buying bitcoin funds I don't mention anything about bitcoin growth because we already know it and have gone off the topic we discussed in the initial thread.
For 2022 it was the beginning of my DCA and it was only as a view and example when we are wrong in positioning ourselves then we will actually be confused as happened to me in 2022 because at that time I wanted to do DCA but my focus was only on the price which made my DCA disturbed. this is a complement to what @Moreno233 said about the DCA method not caring about the base or price.

I don't really understand what you are saying. In fact, your explanation is quite roundabout. I also asked what the year 2002 meant. Bitcoin was created by Satoshi in 2009. Even if I had to say that in 2010 only a handful of people bought Bitcoin because at that time many of us or those out there had not heard of the name Bitcoin.

So if you want to buy and hold Bitcoin then do it in any way you like, even with DCA or your own way. But in essence, buying and holding via DCA is a pretty good option, even many of them apply the DCA strategy as the best option for accumulating Bitcoin.

In this period many of us have missed Q1, Q2 and now we are entering the end of Q3. So to what extent are you consistent in accumulating Bitcoin, is there a big plan for you to hold for a long period like the next 5 years or just wait for the BTC price to record a new ATH and you get out at that time?

As a bachelor with such amount od income $10 is too small, look at it yourself (93000-9300 = 83700). You will still be left with a big amount of money which if you cut down your expenses and forget buying unnecessary things, you will still be left with more than 10% as the extra cash after you must have DCA with 10% and taken care of your upkeep and emergency funds. Like JJG said it is a pretty BIG ASS waste of time, why don't you invest with 20% and cut down your expenses because bitcoin is worth sacrificing for to benefit from it in future to come.

Since you are a bachelor and still very agile, you can look for another means of income so that you can use that to increase your bitcoin portfolio rather than wasting your time with 10% DCA hoping to make good profit in the long wrong. It is what you invest that you will get in return and that is why you need to have various meand od income, if your source of income wouldn't not enable you to invest a reasonable amount into bitcoin. Don't let this opportunity pass you by and make the right decision at the right time so that in the nearest future, when you look at your bitcoin portfolio, you can be proud of yourself and also your kids can also be proud of you.

As a newbie, you need to use DCA method in other to eliminate fear on bitcoin market price and for convenience.

Regardless of whether this becomes academic or not the end result is the same and I don't think there is any harm in looking at the various perspectives on whether bitcoin can be used as a hedge against fiat or not.
But back to the topic because it has gone away from the initial discussion as I said earlier, I don't really care about it especially with some of the theories that are widely discussed whether they are positive or negative about the existence of bitcoin because I only believe in what I do and until now I still think that being in bitcoin and investing in bitcoin is one of the things that makes me comfortable. it's been very more than enough for myself even though in the end this will also circle back to the discussion of risk I don't really care about other people's opinions because I just follow what I believe in right now by continuing to invest in bitcoin.

I like the point that you are emphasising here and it is true that if we are ready to invest in the DCA way, especially if we have started it, then I think there is no specific reason to look at how vulnerable the price is because consistency must be maintained.
The problem that often happens is when we're already working on DCA and we get bogged down with the thought of price, which in the end will make our strategy fall apart in the end.
My initial period in 2002 was like this because I was dizzy with my thinking that was based on price but over time that became the main problem I had because when I was based more on price we would be dizzy so I tried to learn from the beginning and indeed for now it can be said that my method is much better than before with DCA which should not be too concerned about price.

These people don't seem to understand the concept of decentralization. Bitcoin is decentralized, meaning it's not under the control of any government or financial institution. On the other hand, this so-called Cititoken is still government-owned because it operates on centralization. So, why would I abandon Bitcoin for a new centralized token that an investor is promoting online just because they believe everything will go their way? Not happening!

Anyone who advises or thinks I should swap my accumulated Bitcoin for Cititoken clearly dont know anything about the existence of Bitcoin, and I'll block such individuals. 

Corroborated, Banks have been considering Bitcoin as a competitor since its inception. While no one else knows about Bitcoin fast, the bank has a good idea about Bitcoin's future. Despite knowing everything, they are making various negative comments about  Bitcoin. But as people are slowly learning about Bitcoin and showing interest in it, banks are now trying to find a different way. Because they have assumed that Bitcoin cannot be suppressed.

In recent times, many have withdrawn their bank deposits and transferred them to Bitcoin to escape the effects of inflation. Those who want to invest not only for temporary gain but also for long term permanent wealth should know about Bitcoin and then he can invest. Bitcoin investment also has risks, but if the risks and opportunities are carefully monitored and long-term investment is made, then an investor can be successful in Bitcoin. But the point is that both Bitcoin and Banks convery the importance in different ways. So bank should not consider bitcoin as an enemy.

A bachelor without no responsibilities can invest $10 weekly if his salary is a hundred boxes, because the so-called bachelor has nobody to care for rather than himself, although not everyone can do that but someone who's determine and very ready for the investment and has such plans, no matter the monthly salary, as long as he's not spending recklessly and not also a gambler, bro he can invest $10 weekly.

In some countries, a $10 bill is not a small amount of money, but in other countries it is a small amount of money earned, so both the salary the investor earns a month and the country he's from, matters a lot, like in my country, Nigeria, $100 is about #98 thousand and $10 is #9300 naira so in country like this receiving such amount by month end you can easily invest your $10 into Bitcoin, although the economy in Nigeria is hard but if you don't have any responsibilities, and you are being paid such amount by the end of the month you can invest $10 per week into Bitcoin.

Who would say Bye Bye to Bitcoins for the Citibanks tokens 

We should keep in mind that these influencers can shill any token if they are being given the price. We never know how much money Robert Kiyosaki got from Citibank to tweet from his account. A modern way of advertisement. Ahhh !!!

No matter who tweets what, we are here to Buy the DIP, and HODL!  BTC

You're right but is totally depends on what an investors earn on a monthly basis because if using that strategy there could be a possibility of getting yourself into trouble with the investment which can affect your capital at the long run, it doesn't matter how much funds you use for accumulation what should determine it is your monthly salary because there is no way you could advise someone that earns $100 on monthly basis to use $10 for investment on a weekly basis, because in no time he will ran out of funds and will be forced to sell of his investment so that's why every amount invested should be determined by your monthly salary which will allow you to be stable and confidence while accumulating Bitcoin

If an investor is accumulating a total amount of $10 per week and the investor keeps to the plans of accumulating that amount, that is a good idea because $10 per month is about $40 and if the investor continues, six months' time, will be a total of $240, then think about when the investor constantly maintains that strategy up to 1 year it's about $480 per year and some of these months have 5 weeks.
If an investor can buy a steady coin for $500 and continues, in just 1 year that investor will achieve up to 2 BTC before the year runs out.

I think MSTR also has a special strategy in assessing the market objectively when making purchases, but at least what they do is provide fresh air for BTC price increases even if only for a few moments and break the chain of short-term trading patterns from speculators and if we look at it, it's a bit funny also at that time the other USD looked weak, BTC actually up...But that's one of the unique things about BTC. .

There is no reason for bitcoin to support banks, when for the past 14 years banks have been talking bad, trying to keep people away from bitcoin just because they are afraid they will be destroyed because people will switch to using bitcoin and leave them.

Depositing money in the bank not only cannot help us build an asset portfolio, but also causes the value of our assets to gradually lose value. Meanwhile, using bitcoin is risky but can help you increase your asset value significantly if you have the right knowledge about bitcoin. But putting all our assets in bitcoin is also not a good idea because of its short-term volatility. We must still have enough savings in the bank to cover our daily needs and emergencies.

The possibility of Bitcoin dipping more is not certain for now if you have been following the Bitcoin market price these period you will see that Bitcoin price has been consolidating within some certain zone, neither uptrend nor downtrend so these is to show that there could be a possibility of maintaining these levels till the halving take place so waiting for the market to go more dip before buying may not really be a wise decision were as instead of dipping the more it moves uptrend as such you may not have the opportunity to get into the market again, so to me these is one of the best price to buy Bitcoin now because considering next year halving there is a likelihood that Bitcoin price will break the previous all-time high, so the question will be were are you able to utilize the opportunity now that the Bitcoin price is on a good position to accumulate.

I definitely checked and saw a person commenting on the Robert Kiyosaki question several times dismissed the decision to buy Bitcoin. And I found one comment that refrained from buying bitcoins.



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People are more inclined towards Bitcoin than Banks because once Bitcoin enters the world it will never support Banks.  It's never been possible to benefit as much as I have from using Bitcoin and from using a bank.  It is never possible to build a large portfolio by keeping money in the bank, but it is certainly possible to build large funds using Bitcoin.

Many of us have already acknowledged that some people might not be in a position to be investing into bitcoin or anything else because they personally do not have their finances in a good enough place, such as having some kind of an emergency fund.

I specifically asserted that the emergency fund can be built and buying into bitcoin can be accomplished at the same time; however, surely you might not be able to be as aggressive in your bitcoin investment during the time in which you are still building up your emergency fund, and you will be able to afford to be more aggressive in terms of buying into bitcoin after you have already established your emergency fund.

I personally doubt that very much, if any weight, should be given to your own predictions about if the BTC price is going to go up or down, especially if you are an admitted no coiner. 

Now, once you have established some bitcoin, maybe you have been investing $10 per week for  a year or something like that (so then you would have $520 invested.. it is still not a lot.. so even after a year, you might still NOT need to be worrying about which way you think the BTC price is going to go.. and even if you invest for 4 years, at $10 per week, you still would only have $2,080  ($520x4)  invested.. so maybe at some point you might start to attempt to be more strategic about your BTC purchases, but it seems like a pretty BIG ASS waste of time, as compared with just buying regularly in order to start to get your base up there, even if you might be buying some of your BTC at higher prices, you likely do not know enough about which direction the BTC price is going to go anyhow.. but if you do, hopefully you are not becoming too strategic about the whole matter and missing opportunties to just buy and continue to prepare yourself for up.

And think about it.. if you are starting out at $10 per week and then maybe at some point you are able to go to $100 per week or even more than that, it still could well end up taking you several years to get your bitcoin investment up to meaningful amounts.. With $100 per week and then 52 weeks in a year, so $5,200 per year, at least after 10 years you have invested $52k into bitcoin, so surely at that point you are likely going to start feeling that your investment size is getting to become a good amount, especially if BTC might continue to appreciate in value between now and 2033 (10 years from now).

they can offer everything about cross boarder  and block chain technologies , but the question si that will people truly trust banks now specially those people like us?
that have all experienced about the capacity of banks to earn from our own money while we are free to use Bitcoin at any time?(of course not with those who have banned countries).
and also if i were to ask you , will you use that citibank offer or still Bitcoin/crypto?
because me ? I will not trust bank anymore after all the good things I have tasted from bitcoin using.
and most specially the opportunity to make grow of my funds higher than what banks peanut can offer me.

Strictly, DCA is a good approach in the accumulation zone but while we are in the Distribution zone or in the Profit Booking Zone we need to approach different policies such as Dip buying. Here the Emergency Funds are gonna support the person in his accumulation directly in any worst-case scenario.


Hmm, Got it, till a specific accumulation DCA is a better approach as default strategy and after reaching to that specific point a person can even distribute his capital into different Strategies, this one sounds more promising. Also thanks for the clarification as well.

every investor has different tricks, but looking at the last few months, i agree with you that the price of Bitcoin is sideways.  Michael Saylor is a good example, he buys bitcoins regularly based on DCA, and currently holds quite a lot of bitcoins, if he thinks too much when buying bitcoin then i'm sure he won't be able to find a decent price to buy bitcoin.

touching on the safest way to store bitcoin, well, saving in CEX is never a good option, i also store bitcoin in my personal wallet ^{(currently i use an unstopable wallet)}, for me personally, Bitcoin is an asset that is immune to inflation, maybe the price is very volatile, but that is what really makes Bitcoin different from other investment instruments.

well, you really missed the best price for buying bitcoin, well we will definitely find it difficult to see the price of bitcoin reach $20k again lol, yep the point of my post is to apply the DCA concept when buying bitcoin, and target it for the long term, the best strategy at the moment imo is buying bitcoin with the DCA concept.