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Topic: Buy the DIP, and HODL! - page 41. (Read 131675 times)

hero member
Activity: 1358
Merit: 627
November 19, 2024, 04:28:01 PM
That's right my friend, if we have the opportunity to buy bitcoin, I think we should continue to buy it. Because collecting our money in the form of bitcoin will certainly be something that is very promising and has minimal risk. I also have the intention now, while I still have income, I will continue to do DCA on bitcoin. So I will not set a price or when I will sell the bitcoins I own. Because if I have thoughts or benchmark selling prices that I will use for the Bitcoin assets that I own, it feels a little burdensome in my thinking. So for now I'm going to enjoy the DCA I did on bitcoin more. Because at first I was also going to sell bitcoin in the current bull run market, but I changed my mind and will continue to HODL the bitcoin I have until an undetermined time.

Then regarding bitcoin, recently I did a search on Google about the popularity of bitcoin and also the number of current users. Then the results came out, Bitcoin is now experiencing a very high increase in popularity, namely entering the ranks of the 3 most popular investment assets at the moment. Therefore, in my opinion, in the future Bitcoin could become the number 2 or number 1 most popular investment asset in the world. Because looking at its current development, Bitcoin seems like it will become a very extraordinary asset. So with this, we no longer need to hesitate to continue doing DCA into bitcoin.
Actually you can set a plan with DCA accumulation every week more consistently for long-term targets. If I look closely at the point you made where you are not mentally strong enough to hold bitcoin long term, I think you should be able to strengthen your mentality to face sudden market reversals. In long-term investment you must have a strong mentality, not panic and continue to buy regularly, your cash flow must come in every month so that the investment you make can run smoothly as you target.

I love the zeal you got their buddy, Bitcoin future upsurge is unimaginable thats why it's advisable for everyone to keep doing the needful, sometimes I just wonder why some perons still doubt this digital asset called Bitcoin, Bitcoin has shown that it has the potential needed for it to be trusted, I stay away from anything that will discourage me to stop doing my thing as a bitcoiner, when I stumble on this comment yours I laughed and said in my mind that this should be the mindset of every bitcoiner thats aiming to have a good stack of Bitcoin in their portfolio in the future.
As for the adoption of Bitcoin, people has started knowing the importance of buying Bitcoin asset, some has been waiting to buy for a long time because of doubt  but they have decided to buy now which is also fine but would have been better earlier because if they did earlier, they would have had a reasonable amount of Bitcoin in their portfolio by now but I don't also think that it's late since they have retraced steps.

Bitcoin is really getting more adoption, the recent rapid upsurge has really done great for the adoption of Bitcoin by individuals and institutions, I think this is a good news for bitcoiners, more surprises are on the way but they only way we can achieve that is by continuously accumulating and hodling for a long-term.

Bitcoin adoption will continue to happen and it cannot be stopped. Bitcoin has become the investment choice of everyone in this world, they continue to buy with the finances they have.

I predict that many countries will follow in El Salvador's footsteps in buying bitcoin, we know El Salvador buys bitcoin every day with an accumulation of 1 BTC per day, the United States will also do it in the future, Yes that's good news for wider adoption.

You are sounding more like a trader than a long-term investor in bitcoin investment because, from what I have seen from your post, it shows you are in a hurry and worried that the bitcoin price is too high, which might not allow you to get enough short-term profit. You are still very early in bitcoin investment, so there is nothing for you to worry about bitcoin price hitting $100k if you are all in on bitcoin for the long-term. What you should worry about is how you will focus and consistently accumulate bitcoin in such a way that it will not stop you from sorting out your daily expenses, which might give you a hard time holding your bitcoin for the long term.
You may be wrong, I'm not expressing my opinion as a trader. I just use the time I have to keep buying bitcoin

I remember a saying, delaying is the worst thing.

 For that, while I still have money, I keep buying bitcoin.

Imagine your cash flow stops at some point, and when your cash flow is running normally but you waste opportunities or keep delaying, of course that is an ineffective way to invest.
sr. member
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November 19, 2024, 01:47:41 PM
Those who have started investing consistently even a few months back have already got good amount of profit from their investment.
For investors who are accumulating bitcoin for long-term purposes, I doubt if they will be making a good amount of profit from their bitcoin investment now because you cannot actually tell if they have invested a reasonable amount of money in bitcoin, which will allow them to gain the kind of profit you are talking about from their bitcoin investment. Even though the bitcoin price is high, I think it is too early to talk about profit because most people here are accumulating bitcoin for the long term and they are still in their accumulation journey, and thinking about profit now might distract them from their original plan of holding bitcoin for 4-10 years or more. If we are consistent enough in accumulating bitcoin in such a way that it will not stop us from sorting out our daily expenses and holding it for the long term, that is when we will see the type of profit you are talking about from our bitcoin investment.
member
Activity: 65
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November 19, 2024, 11:57:33 AM
Most likely people tend to sell and start getting swayed by blogs that suggests Bitcoin is going to $70K.
I believe we are going bigger doesn't mean others are
And if they hold, There would be no need in been scared of Buying Now.
In a nutshell, I'm advising against trading not encouraging it.
Bloggers harbor the most discouraging effects on bitcoin investment and most of them are up for short-term gains and with trading mindset and people tend to believe them more thinking that more followership entails more wisdom. I also fault people who believe out rightly what these bloggers say without validating it themselves by doing their own researches to ascertain if the bloggers claims aligns with their intentions.

Investment decisions should be completely of our own accord and should be a testimony of what we want for ourselves rather than advise given to us by an external person and bitcoin investment is a decision to be take by the investor to dedicate a portion of their discretionary income to by bitcoin with any of the accumulation strategies that synchronized with their lifestyle with the intention of going for a long term and securing their financial future in bitcoin.

It is good that young people should think more than the present lifestyle and decide to take investment seriously since they are young, full of energy and can make sacrifices readily and comfortably for their future and I believe if any youngster gets into bitcoin having a long term plan in mind, he has more advantage and can go for a longer period of time and with commitment, he can beat a very high target with respect to his available discretionary income and length of time. Such a very young person can go for 10 -20 years or more in bitcoin and maybe 30 - 40 years if he plans for his retirement with bitcoin and that would be a very profitable long-term investment.

hero member
Activity: 658
Merit: 562
November 19, 2024, 09:44:20 AM
Tho me, there's no need to stop your regular accumulation if you're yet to reach your accumulation target, slowing down on your accumulation can lead to over relaxation and possible termination of your accumulation journey.

I don't think that if an investor has accumulated from 60% and above of his bitcoin target, and he choose to change his accumulation strategy from DCA to buying at the dip, that it means he is unserious with his bitcoin accumulation and can lead to termination of his bitcoin investment. Every investor should choose whatever accumulation strategy that will suit them at every point in time based on the size of your bitcoin portfolio and your own financial circumstanced playing around you at that moment.

When your bitcoin portfolio has gotten to a particular size, if you use DCA to continue your accumulation, you might not see any significant increase in your bitcoin portfolio because the of amount that your are using to DCA is small. But if you keep all those money that you are suppose to use for your DCA and use it to buy when bitcoin price dips, you will see a significant increase in your bitcoin portfolio. If you have accumulated up to 60% and above of your bitcoin target, waiting for the dip isn't a problem anymore because as bitcoin price is increasing, your portfolio is also having a significant increase and you are better off than a new investor who just started his bitcoin journey.

Quote

You can continue your accumulation and save part of your discretionary income expecting the dip to come so you can lump sum and buy more at lower prices.
When you have some amount of money down waiting to buy bitcoin when the price dips is called buying at the dip, and when you have an extra cash that you don't have any plan for because you never expected it for instance, my Boss gave me $400 at work today for bounus and I used that money to buy bitcoin the moment I got home with $300 immediately to add to my bitcoin investment is called lump sum. When you want to lump sum, you do it right away irrespective of bitcoin price at that moment, without waiting for the price of bitcoin to dip.
hero member
Activity: 1050
Merit: 592
God is great
November 19, 2024, 08:09:24 AM
Those who have started investing consistently even a few months back have already got good amount of profit from their investment. It was beyond everyone's imagination that the market would suddenly cross $90K from $50K. However, due to consistent investment, many investors have made good use of this profit opportunity. As the Bitcoin market is currently at its highest point, we cannot assume that the market will dump again from here. It may be that Bitcoin's value has increased by then but many investors will regret why they didn't invest during the $90K like many are doing now. It is difficult to tell when the market will go in which direction so if we continue to invest consistently then this investment will definitely not disappoint us rather we will definitely get something good from this continuous investment.
That's to tell you at every point you invest bitcoin it is always profitable and their is no best time to buy bitcoin,  the more you wait the opportunity you miss in making profit.

We need to the teach people to have understanding that their is no point waiting to buy bitcoin, I think the only reason that should stop one from buying bitcoin if their is no money, no source of income, this can be accepted as a reason why one haven't buy some bitcoin. Buying bitcoin at all time you can afford it is always the best step , but by waiting thinking their is a best time to buy, it is one of the self deceit that happens unknowingly to many people, this is a bad mindset that some people needs to flush out from their mind and do the right thing.
jr. member
Activity: 89
Merit: 5
November 19, 2024, 07:38:08 AM
Today all of us are happy and celebrating the bull run, where Bitcoin is getting ready to touch 100k$. There is an interesting read which has a small database of notable Bitcoin Skeptics. One can see on this page that many times it was predicted that Bitcoin is going to zero and Bitcoin has proved it wrong every time. Even in 2022 there is an article in telegraph that says that "Bitcoin's libertarian dream is over".
Such predictions will continue to come and it's our duty to ignore them.    


https://buybitcoinworldwide.com/bitcoin-is-dead/
Actually there is alot of bitcoin FUD in many people and this has made many people said negative things about bitcoin many people have said countless times that bitcoin will fall to zero some said bitcoin can never hit $100k, and all are just do to FUD. Here are some people who never believed in bitcoin.

A long time ago, Peter Schiff said this..
keep dreaming, Bitcoin is never going to hit $100k


popular celebrity who do not believe in bitcoin

1. Warren Buffett
 He once said "bitcoin is a rat poison. labelling it as a no coin atol.

2. Jamie Dimon
“The cryptocurrency won’t end well! It will eventually blow up… It is a fraud definitely worse than tulip bulbs!”

3. Charlie Munger
also said bitcoin is stupid because it is likely to go to zero

So surely there must be people who will not believe in bitcoin, and of course they can include not buying bitcoin, but as years passes by and bitcoin continue growing and creating New ATH, they will later come to embrace bitcoin when they will spend alot to buy it when they actually had the opportunity when It was less expensive. I always believe in one thing anyone who doubt about something when it is cheap will surely pay big when it has received recognition as results of his doubt.

Those who made such negative remarks on bitcoin will end up eating their words as bitcoin keeps pushing forward, they didn't see the bigger picture. The progress bitcoin made over the years is impressive and there is still so much room for growth. It shows that sometimes you gotta trust your gut and take certain decisions by yourself. Those who let the negative remarks from such figures persuade their decisions might have missed out on some serious opportunities. Making your own decisions based on research and your beliefs is super important.

Bitcoin really stands out as a unique asset, especially with its emphasis on privacy and decentralization. In a world where many people value their privacy bitcoin attributes definitely give it an edge.  Speaking against an asset like Bitcoin, especially when it’s completely different from traditional asset can be tagged as a gamble. It’s not just another regular nvestment, it’s something that challenges the status quo. A lot of folks might not realise it potential until its too late . Gotta keep an open mind
sr. member
Activity: 490
Merit: 346
Let love lead
November 19, 2024, 07:09:39 AM
To me as an investor the only when one can only focus on the dip before accumulating, is if the  folks has already, gotten far with his investment, which may stop him from been aggressive as he used to.
Tho me, there's no need to stop your regular accumulation if you're yet to reach your accumulation target, slowing down on your accumulation can lead to over relaxation and possible termination of your accumulation journey. You can continue your accumulation and save part of your discretionary income expecting the dip to come so you can lump sum and buy more at lower prices.

The moment you stop your accumulation, your mentality towards your investment tends to change to something else and you might not handle the transition well and may start entertaining laxity and possibly turn negative and start preying on your investments. Until you achieve your accumulation target, you're not there and by pausing without reason you may start suffering from near-success syndrome and abandon your mission. Keep the ball rolling until you get there.


It was unfortunate for those of us who didn't invest in Bitcoin when we had the opportunity, but since there is no benefit of regretting about the fact, we need to hold Bitcoin from this point rather than wasting our time. Even though most of the people in the world have heard the name of Bitcoin, they have not started investing. That's why if you consider the current time as another opportunity and collect bitcoins according to your own ability, then after a certain time it is definitely possible to create a large portfolio of bitcoins. Especially if the DCA strategy can be sustained for a long period of 4-10 years then it is definitely possible to expect significant returns from Bitcoin. It may not be possible to get back the opportunity that we missed in the past, but if we consider the future and focus on Bitcoin accumulation from now, then at some point we will be able to get that opportunity back again.
You're right, there's a saying in my local dialect which means that whenever you wake up is your morning, so whenever an investor is convinced and kick-starts his Bitcoin accumulation journey is their morning. It's still morning guys, let's take Bitcoin seriously and in years time new investors would still envy our success and wish they started when we did. With renewed confidence and increased commitment to our DCA, we can grab our own good share of Bitcoin and secure our financial future just like many has done and are still doing. It's still early and we gotta make hay while the sun is still shining.
full member
Activity: 322
Merit: 194
November 19, 2024, 01:51:37 AM
Those who have started investing consistently even a few months back have already got good amount of profit from their investment. It was beyond everyone's imagination that the market would suddenly cross $90K from $50K. However, due to consistent investment, many investors have made good use of this profit opportunity. As the Bitcoin market is currently at its highest point, we cannot assume that the market will dump again from here. It may be that Bitcoin's value has increased by then but many investors will regret why they didn't invest during the $90K like many are doing now. It is difficult to tell when the market will go in which direction so if we continue to invest consistently then this investment will definitely not disappoint us rather we will definitely get something good from this continuous investment.
I think there are still many days left to reach the dumping stage and the coming days are going to be very good for Bitcoin. It can be predicted by the rational behavior of the market that the price of Bitcoin is likely to exceed $100k at any time. You should make an effort to get a decent holding before expecting profit from the investment so that the gap between expectation and realization is very small. By tending to accumulate bitcoins by making small savings rather than being satisfied with small profits, you can move towards getting the right expected profit. Long-term savings efforts have a tenure of 4-10 years and are independent of price pumping or dumping.

Investors who make the effort to accumulate bitcoins through small savings are likely to have a huge holding in the future and you can pretty much assume that they will not regret it as they are going to get the desired and decent holdings from each cycle in the long run. Increasing the amount of savings during Bitcoin rising value should increase your confidence because of its potential to increase in value over time. If dumping conditions prevail, the cycle should tend to be circumscribed by continuing to accumulate on an ongoing basis while aiming to achieve a modest holding.
sr. member
Activity: 504
Merit: 389
The great city of God 🔥
November 18, 2024, 11:57:00 PM
Today all of us are happy and celebrating the bull run, where Bitcoin is getting ready to touch 100k$. There is an interesting read which has a small database of notable Bitcoin Skeptics. One can see on this page that many times it was predicted that Bitcoin is going to zero and Bitcoin has proved it wrong every time. Even in 2022 there is an article in telegraph that says that "Bitcoin's libertarian dream is over".
Such predictions will continue to come and it's our duty to ignore them.    


https://buybitcoinworldwide.com/bitcoin-is-dead/
Actually there is alot of bitcoin FUD in many people and this has made many people said negative things about bitcoin many people have said countless times that bitcoin will fall to zero some said bitcoin can never hit $100k, and all are just do to FUD. Here are some people who never believed in bitcoin.

A long time ago, Peter Schiff said this..
keep dreaming, Bitcoin is never going to hit $100k


popular celebrity who do not believe in bitcoin

1. Warren Buffett
 He once said "bitcoin is a rat poison. labelling it as a no coin atol.

2. Jamie Dimon
“The cryptocurrency won’t end well! It will eventually blow up… It is a fraud definitely worse than tulip bulbs!”

3. Charlie Munger
also said bitcoin is stupid because it is likely to go to zero

So surely there must be people who will not believe in bitcoin, and of course they can include not buying bitcoin, but as years passes by and bitcoin continue growing and creating New ATH, they will later come to embrace bitcoin when they will spend alot to buy it when they actually had the opportunity when It was less expensive. I always believe in one thing anyone who doubt about something when it is cheap will surely pay big when it has received recognition as results of his doubt.
sr. member
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November 18, 2024, 11:02:03 PM
Aren't we presuming that with the passage of time that the BTC price is going to continue to rise, yet we cannot necessarily that the BTC spot price is going to rise or fall in the short term, even if we might realize that there is a kind of ongoing and ever-present pressure upon it to go up in price that comes from its ongoing adoption (including that we are in early stages of its adoption too).
I don't imagine that sir, what's on my mind right now is to keep buying. I'm still not satisfied with what I have and I wish I had more time to buy bitcoin when it was still under $100k.

With my high hopes for bitcoin, I always focus on buying more aggressively once a month, I do that to reach my target earlier than I expected.

As I know, bitcoin adoption continues to advance very rapidly, currently many countries are competing to buy bitcoin.

Can we predict that Bitcoin will become number 2 as the largest asset today, I'm sure it will be achieved over time.
You are sounding more like a trader than a long-term investor in bitcoin investment because, from what I have seen from your post, it shows you are in a hurry and worried that the bitcoin price is too high, which might not allow you to get enough short-term profit. You are still very early in bitcoin investment, so there is nothing for you to worry about bitcoin price hitting $100k if you are all in on bitcoin for the long-term. What you should worry about is how you will focus and consistently accumulate bitcoin in such a way that it will not stop you from sorting out your daily expenses, which might give you a hard time holding your bitcoin for the long term.
legendary
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November 18, 2024, 02:10:49 PM
I consider saving in a bank with Bitcoin to be the most prominent, because Bitcoin is resistant to inflation and its value will continue to increase and if you only rely on savings, the value of your money will be eroded or even continue to decrease and will not be resistant to inflation.
Saving your money in the form of Bitcoin is a good choice and also very profitable compared to saving money in a bank that will never change or increase, unless you put a large amount of money with the deposit method and even then it will not produce good profits.
And you are right, if you really need money, you can use it or cash it out quickly. It doesn't mean that you invest in Bitcoin, you can't use it if you need it and having Bitcoin makes everything easier than money because having Bitcoin is completely in our own control and we are the bank.
You are getting it all wrong. Investment, savings, business, emergency funds and to mention a few others. All are essential in our life. We cannot do some and leave the others.

We should try to recognize and appreciate that an overwhelming majority of people do not have and/or maintain investments and/or savings, and in usual circumstances, they likely ONLY have around 2-6 weeks worth of some kind a cash fund or back up fund in the event that their cashflow dries up and/or their expenses increase.  Furthermore if they do start to invest, they likely will begin investing into the kinds of assets/currencies that are not even close to as volatile as bitcoin, so getting into something like bitcoin justifies the creation and maintenance (and building) of way better cashflow management systems, especially if any of us really wants to back up our ideas with actions that actually preserve our BTC investment for 4-10 years or longer, which largely means that we are not selling any of our BTC (absent small amounts that might be spend and replace).

Sure, we might not need to completely wed to a 4-10 year time horizon when we get started in bitcoin, and we do not need to get all our shit together (including our cashflow and/or our emergency funds) in order to get started in bitcoin, yet at minimum we need to make sure that we are taking from discretionary income ton invest in bitcoin rather than money we need, and if we do not have discretionary income or we cannot figure out if we have discretionary income, then we have to establish that we have discretionary income prior to buying any bitcoin.  We actually don't even need to know exactly how much discretionary income we have to invest into bitcoin, as long as we know that we have some discretionary income, and we can figure out the details and get our shit in order as we go...presuming that we have bare basic levels of abilities to know or learn basic math.

All are important because they takes care of certain responsibilities when you need. The essence of investing is to be wealthy and that is why it is a long term plan. Savings is done when you want to start up a business or your planning for ceremonial event (marriage or any) in the future which you dont expect to touch your investment. Your emergency funds is for unexpected life events that comes at any time. It could be health, or utility bills.

I would not consider utility bills to be an emergency, since each of us should somewhat realize ballpark ideas of our utility bills, yet if we might be used to paying $50 per month in various utility bills, and then all of a sudden our utility bill is $500, then sure something like that could end up falling into the category of an emergency.

Your above descriptions are not otherwise wrong, yet I would think that if we are investing into bitcoin and otherwise attempting to make sure that we have strong cashflow management, then our building our wealth in that direction is going to give us more options in the future, and surely each of us has differing kinds of things going on in our lives in terms of the kind of employment that we might have, or if we might have our own business and/or if we might have a family to support and/or other obligations.  Our cashflow management is going to differ based on some of our obligations which might affect how much discretionary income that we might have to invest into bitcoin, and surely the more complicated our income flows or our expenses, then the more likely that we are going to need to retain more value in cash so that we are not contributing to our having emergencies that we should be striving to prevent.. and also we should be striving to prevent dipping into our BTC investment too.. at least during the time that we are building it up and getting the bitcoin stash size to a level that we might conclude that we have enough BTC or more than enough BTC.. .which could take 4-10 years or longer to establish, and surely it could even take 20 years or more for some of us to get our bitcoin stash to such a level of over-accumulation.

So you see, all of them have a part to play in our lives. While we skip one or more we tend to find ourselves in a difficult situation where we can be pushed to make wrong decisions that can affect us.

Sure..  This statement is true, even though there is likely going to be prioritizing of the various kinds of funds and balancing that goes into considering various factors that come into play if we are investing into bitcoin, and so in that kind of a general sense, I had tried to put them into 9 individual factors that we should be considering, attempting to balance and to tailorize to our own circumstances.
full member
Activity: 784
Merit: 204
November 18, 2024, 12:56:56 PM
Today all of us are happy and celebrating the bull run, where Bitcoin is getting ready to touch 100k$. There is an interesting read which has a small database of notable Bitcoin Skeptics. One can see on this page that many times it was predicted that Bitcoin is going to zero and Bitcoin has proved it wrong every time. Even in 2022 there is an article in telegraph that says that "Bitcoin's libertarian dream is over".
Such predictions will continue to come and it's our duty to ignore them.    


https://buybitcoinworldwide.com/bitcoin-is-dead/
full member
Activity: 308
Merit: 142
November 18, 2024, 12:29:18 PM
I consider saving in a bank with Bitcoin to be the most prominent, because Bitcoin is resistant to inflation and its value will continue to increase and if you only rely on savings, the value of your money will be eroded or even continue to decrease and will not be resistant to inflation.
Saving your money in the form of Bitcoin is a good choice and also very profitable compared to saving money in a bank that will never change or increase, unless you put a large amount of money with the deposit method and even then it will not produce good profits.
And you are right, if you really need money, you can use it or cash it out quickly. It doesn't mean that you invest in Bitcoin, you can't use it if you need it and having Bitcoin makes everything easier than money because having Bitcoin is completely in our own control and we are the bank.
You are getting it all wrong. Investment, savings, business, emergency funds and to mention a few others. All are essential in our life. We cannot do some and leave the others. All are important because they takes care of certain responsibilities when you need. The essence of investing is to be wealthy and that is why it is a long term plan. Savings is done when you want to start up a business or your planning for ceremonial event (marriage or any) in the future which you dont expect to touch your investment. Your emergency funds is for unexpected life events that comes at any time. It could be health, or utility bills.

So you see, all of them have a part to play in our lives. While we skip one or more we tend to find ourselves in a difficult situation where we can be pushed to make wrong decisions that can affect us.
sr. member
Activity: 616
Merit: 414
November 18, 2024, 10:53:17 AM
Aren't we presuming that with the passage of time that the BTC price is going to continue to rise, yet we cannot necessarily that the BTC spot price is going to rise or fall in the short term, even if we might realize that there is a kind of ongoing and ever-present pressure upon it to go up in price that comes from its ongoing adoption (including that we are in early stages of its adoption too).
I don't imagine that sir, what's on my mind right now is to keep buying. I'm still not satisfied with what I have and I wish I had more time to buy bitcoin when it was still under $100k.

With my high hopes for bitcoin, I always focus on buying more aggressively once a month, I do that to reach my target earlier than I expected.

As I know, bitcoin adoption continues to advance very rapidly, currently many countries are competing to buy bitcoin.

Can we predict that Bitcoin will become number 2 as the largest asset today, I'm sure it will be achieved over time.

I love the zeal you got their buddy, Bitcoin future upsurge is unimaginable thats why it's advisable for everyone to keep doing the needful, sometimes I just wonder why some perons still doubt this digital asset called Bitcoin, Bitcoin has shown that it has the potential needed for it to be trusted, I stay away from anything that will discourage me to stop doing my thing as a bitcoiner, when I stumble on this comment yours I laughed and said in my mind that this should be the mindset of every bitcoiner thats aiming to have a good stack of Bitcoin in their portfolio in the future.
As for the adoption of Bitcoin, people has started knowing the importance of buying Bitcoin asset, some has been waiting to buy for a long time because of doubt  but they have decided to buy now which is also fine but would have been better earlier because if they did earlier, they would have had a reasonable amount of Bitcoin in their portfolio by now but I don't also think that it's late since they have retraced steps.

Bitcoin is really getting more adoption, the recent rapid upsurge has really done great for the adoption of Bitcoin by individuals and institutions, I think this is a good news for bitcoiners, more surprises are on the way but they only way we can achieve that is by continuously accumulating and hodling for a long-term.
sr. member
Activity: 1386
Merit: 406
November 18, 2024, 10:20:42 AM
Those who have started investing consistently even a few months back have already got good amount of profit from their investment. It was beyond everyone's imagination that the market would suddenly cross $90K from $50K. However, due to consistent investment, many investors have made good use of this profit opportunity. As the Bitcoin market is currently at its highest point, we cannot assume that the market will dump again from here. It may be that Bitcoin's value has increased by then but many investors will regret why they didn't invest during the $90K like many are doing now. It is difficult to tell when the market will go in which direction so if we continue to invest consistently then this investment will definitely not disappoint us rather we will definitely get something good from this continuous investment.
hero member
Activity: 658
Merit: 562
November 18, 2024, 08:49:50 AM
You are absolutely right, money kept in the bank and the one invested in Bitcoin, the return will be very different and off cause the one in Bitcoin will be more than the one in the bank and if actually one is saving them they both can bring return but not in same percentage. And one of the reason why I prefer keeping or investing in Bitcoin is that I can't easily take or withdraw unlike bank where I can easily withdraw and used it up .

I also quite understand what you are saying, but from what I see in the daily environment when someone stores money in the bank, they will actually not get anything except the amount of money they save and if the amount they save is very small, clearly there will be no interest whatsoever that they will get from the bank except for one savings specifically in their local bank. In addition, you can prove it yourself when you save more money in the bank it will actually make it difficult for you to withdraw it in a day if the amount you withdraw is very large.

This means that you can conclude that saving more money in the bank is actually not safe enough and also will not make it easy for you to withdraw it all at once in a matter of hours. It is different with customers who save money in small amounts so that they can immediately withdraw it in minutes whenever they want. While in Bitcoin anyone can save it very safely and can withdraw it whenever they want in larger amounts without being asked specific questions such as what the money is used for and where to take that much money

So what you said is actually a bit reversed from what I have seen so far because banks are not the only safest place to save money even though everyone in the world may still have a bank account for certain purposes. But it is better not to keep money in the bank for too long, especially if the amount itself is very large so that the customer can be monitored by the tax authorities because they have more assets in the form of money in your own account.
I consider saving in a bank with Bitcoin to be the most prominent, because Bitcoin is resistant to inflation and its value will continue to increase and if you only rely on savings, the value of your money will be eroded or even continue to decrease and will not be resistant to inflation.
Saving your money in the form of Bitcoin is a good choice and also very profitable compared to saving money in a bank that will never change or increase, unless you put a large amount of money with the deposit method and even then it will not produce good profits.
And you are right, if you really need money, you can use it or cash it out quickly. It doesn't mean that you invest in Bitcoin, you can't use it if you need it and having Bitcoin makes everything easier than money because having Bitcoin is completely in our own control and we are the bank.
I fail to agree anymore with you on the bolded text.
You shouldn't touch the bitcoin that you are investing because you need money, and look at how you make it sound which means that instead of me keeping cash for my basic needs, I shouldn't but buy bitcoin with it, and whenever I need to buy something, I can spend from the bitcoin I just bought. Then why buy it and say that you are investing when you are not but only gambling, because this your practice will make you run at loss by selling your bitcoin at a cheaper rate when you have a need.

When you are investing in bitcoin, you should only use your discretionary and if you don't have discretionary income, there's no need for you to buy bitcoin because it's useless and a poor financial management practice. You are to use part of your discretionary income that is not going to affect you from taking care of your needs at all, so that you can use that amount to bw buying bitcoin weekly with DCA, so that you can stay or live without selling your bitcoin and hodli for long while you continue buying and buying your portfolio overtime with all seriousness.

It is good to also set up an emergency funds of 3-6 months of your monthly income to take care of whatever emergency that comes your way, so that you don't sell part of your bitcoin to care of it. It good go be building and growing so that you can see how far you have gone in your bitcoin investment than selling what you are buying.
sr. member
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November 18, 2024, 06:38:25 AM
You are absolutely right, money kept in the bank and the one invested in Bitcoin, the return will be very different and off cause the one in Bitcoin will be more than the one in the bank and if actually one is saving them they both can bring return but not in same percentage. And one of the reason why I prefer keeping or investing in Bitcoin is that I can't easily take or withdraw unlike bank where I can easily withdraw and used it up .

I also quite understand what you are saying, but from what I see in the daily environment when someone stores money in the bank, they will actually not get anything except the amount of money they save and if the amount they save is very small, clearly there will be no interest whatsoever that they will get from the bank except for one savings specifically in their local bank. In addition, you can prove it yourself when you save more money in the bank it will actually make it difficult for you to withdraw it in a day if the amount you withdraw is very large.

This means that you can conclude that saving more money in the bank is actually not safe enough and also will not make it easy for you to withdraw it all at once in a matter of hours. It is different with customers who save money in small amounts so that they can immediately withdraw it in minutes whenever they want. While in Bitcoin anyone can save it very safely and can withdraw it whenever they want in larger amounts without being asked specific questions such as what the money is used for and where to take that much money

So what you said is actually a bit reversed from what I have seen so far because banks are not the only safest place to save money even though everyone in the world may still have a bank account for certain purposes. But it is better not to keep money in the bank for too long, especially if the amount itself is very large so that the customer can be monitored by the tax authorities because they have more assets in the form of money in your own account.
I consider saving in a bank with Bitcoin to be the most prominent, because Bitcoin is resistant to inflation and its value will continue to increase and if you only rely on savings, the value of your money will be eroded or even continue to decrease and will not be resistant to inflation.
Saving your money in the form of Bitcoin is a good choice and also very profitable compared to saving money in a bank that will never change or increase, unless you put a large amount of money with the deposit method and even then it will not produce good profits.
And you are right, if you really need money, you can use it or cash it out quickly. It doesn't mean that you invest in Bitcoin, you can't use it if you need it and having Bitcoin makes everything easier than money because having Bitcoin is completely in our own control and we are the bank.
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November 18, 2024, 04:53:38 AM

So don't be among those that are going to regret missing out again.

"Just a quick word of caution here. Bitcoin is about to go parabolic again. If you get the opportunity to buy Bitcoin one last time under $90,000 this week, be prepared to take it. We won’t see these prices again until 2026, if ever. Take care and Godspeed."

Reference link https://x.com/mikealfred/status/1858153905429102904?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Stop spreading fear and panic in this thread. Your action would make newbies in this thread invest in bitcoin in a way that it will stop them from sorting out their daily expenses because they will believe if they don't invest in bitcoin aggressively now it will be too late for them to do that, which might get them off the game, partially or permanently. As far as bitcoin investment is concerned in this thread, we are long-time investors and not panic investors, and even though bitcoin price is a bit high now, it will not make us change our initial strategy we have been using in accumulating bitcoin. We are even happy to see the bitcoin price at $90k, so keep calm and allow us to do things in our own way.
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November 18, 2024, 02:39:17 AM
You are absolutely right, money kept in the bank and the one invested in Bitcoin, the return will be very different and off cause the one in Bitcoin will be more than the one in the bank and if actually one is saving them they both can bring return but not in same percentage. And one of the reason why I prefer keeping or investing in Bitcoin is that I can't easily take or withdraw unlike bank where I can easily withdraw and used it up .

I also quite understand what you are saying, but from what I see in the daily environment when someone stores money in the bank, they will actually not get anything except the amount of money they save and if the amount they save is very small, clearly there will be no interest whatsoever that they will get from the bank except for one savings specifically in their local bank. In addition, you can prove it yourself when you save more money in the bank it will actually make it difficult for you to withdraw it in a day if the amount you withdraw is very large.

This means that you can conclude that saving more money in the bank is actually not safe enough and also will not make it easy for you to withdraw it all at once in a matter of hours. It is different with customers who save money in small amounts so that they can immediately withdraw it in minutes whenever they want. While in Bitcoin anyone can save it very safely and can withdraw it whenever they want in larger amounts without being asked specific questions such as what the money is used for and where to take that much money

So what you said is actually a bit reversed from what I have seen so far because banks are not the only safest place to save money even though everyone in the world may still have a bank account for certain purposes. But it is better not to keep money in the bank for too long, especially if the amount itself is very large so that the customer can be monitored by the tax authorities because they have more assets in the form of money in your own account.
legendary
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November 18, 2024, 01:36:07 AM
So don't be among those that are going to regret missing out again.
"Just a quick word of caution here. Bitcoin is about to go parabolic again. If you get the opportunity to buy Bitcoin one last time under $90,000 this week, be prepared to take it. We won’t see these prices again until 2026, if ever. Take care and Godspeed."
Reference link https://x.com/mikealfred/status/1858153905429102904?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Not an advice. I don't encourage any FOMO. It's counterproductive
Don't enter if you know you init for the short Term.

We are in a thread in which we are largely talking about long term, yet you seem to want to talk about trading.  So you are saying don't come in now if you are in bitcoin for the short term, and even that is a strange statement, like you are expecting the BTC price to dip from here?
We talking about the same thing. We close to a temporary ATH and I wouldn't want any entering it their mindset is short term in case there's a minor dip.
Most likely people tend to sell and start getting swayed by blogs that suggests Bitcoin is going to $70K.
I believe we are going bigger doesn't mean others are
And if they hold, There would be no need in been scared of Buying Now.
In a nutshell, I'm advising against trading not encouraging it.
So don't be among those that are going to regret missing out again.
"Just a quick word of caution here. Bitcoin is about to go parabolic again. If you get the opportunity to buy Bitcoin one last time under $90,000 this week, be prepared to take it. We won’t see these prices again until 2026, if ever. Take care and Godspeed."

Reference link https://x.com/mikealfred/status/1858153905429102904?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Not an advice. I don't encourage any FOMO. It's counterproductive
Don't enter if you know you init for the short Term.

Your statement is sounding more bearish, of which I don't really agree with that. For the fact that you are advising certain set of people to stay away from it shows that the price is about to dip from here until 2026 which I believe is wrong.
I'm quite certain that the number of people more bullish about Bitcoin here is few.
I don't give advice without letting others know there are risks.
I shared the post because I agreed with the view
We ain't seeing this prices again and might not in 2026 when we are supposed to enter a Bearish Market.

Again not an advice, Just my personal opinion.

Even though you claim to be clarifying, you still seem to be waffling in what you are saying, since you seem to be worried that you are going to get blamed if you tell someone to start buying and then the BTC price dips after they already bought.

If someone is brand new to bitcoin, then I suggest to get started as soon as possible, and waiting is not a strategy.

Also, I suggest that they do not even pay attention to BTC prices, just continue to buy for 4-10 years or longer and perhaps at various points along the way they can adjust their strategy.

Many people would be coming in a DCA kind of a style if they are a beginner, yet if they have a lump sum available, then they could consider how they are going to treat the lump sum in terms of buying right away or employing various forms of waiting.

Of course, the three accumulation methods is buying right away, DCA and buying on dips, and perhaps a person with a lump sum could invest some right away and set some portion aside for buying on the dip, with a risk that a dip may or may not come.

In the end, they are responsible for their own actions including if they decide to delay or wait rather than getting started right away, and surely another way of being concerned about starting right away is with adjusting the position size, yet no matter what there is likely going to be some learning that is involved, and that learning is their responsibility, and one of the better ways to learn is by getting started and figuring out position size in accordance with discretionary income and to learn as they go with some amount that is comfortable to them with the risk that not investing is likely a greater risk than investing, even though it could take several years of ongoing investing into bitcoin before the  Bitcoin starts to become profitable, yet none of us is going to know where the BTC price is going to go, including waiting seems like a really poor strategy, and yeah if some one only has $100 per week that they can invest then so be it, and if they only have $10 per week then yeah, they are struggling more, but I still have trouble considering that whatever amount they are starting with is advantaged by waiting rather than putting the money in as long as they are also making sure that they work on their cashflow management practices as we also discussed, which may well be a need to build a back up fund (like an emergency fund) at the same time that they are investing into bitcoin in the event that they don't already have some back up funds built up...and they do not need emergency funds prior to getting started, but they do need to have discretionary funds and their emergency funds and their buying into bitcoin can be built up at the same time, and it could take them several months and maybe even a year or more, just to build up their BTC investment and their emergency funds to be something in the ballpark of 3 months of their expenses.

I think several of us repeat many times to not be getting worked up about price when new to bitcoin, yet so many people, including you Ambatman, seem to be getting distracted by price... so yeah, do what you like and if the price hinders you from acting, then you are the ONLY one responsible for that.  You are responsible if you act and you are also responsible if you fail/refuse to act, and surely over the years one of the BIGGER problems seems to be so many folks who fail/refuse to act and they remain low coiners and no coiners because they continue to be unable to get themselves out of what seems to be a state of paralysis.

The more bitcoin you collect the more profit, because you can store it for a long time and this will be the DCA method. But currently if someone invested in October and his investment increased by 2 to 3 times in November then surely most success is possible with proven bitcoin long term holding.
  Note that the bull market is not over yet, so even with bullish prices, if you hold Bitcoin with the DCA method, you will save on the purchase price. That's why DCA method is the best and has the most role in Bitcoin investment, so you accumulate Bitcoins little by little in which you can accumulate the maximum . And stay away from bank deposit, deposit bitcoin money.
Of course, DCA method is one of the ways of accumulating on a regular basis, yet I see no problem keeping some money in banks or however, you might be holding your fiat too, but yeah, with the passage of time, if you keep building your bitcoin holdings, then it will presumptively get larger and larger quantity of BTC contained therein, and if the BTC price goes up then overall, you would have good chance to have better returns with your BTC money as compared to having had kept such money in the bank.  

You do likely have to secure your BTC in private ways, especially as they get to become larger amounts, so you have less possible issues with third party custodians.  You also likely have to realize that there is no guarantee that your BTC will outperform your cash or other places you could have had invested your money, so you should be figuring out an allocation size into bitcoin that is comfortable for your balancing of your cash versus your investment into bitcoin versus your investment into anything else if you have other investments.
You are absolutely right, money kept in the bank and the one invested in Bitcoin, the return will be very different and off cause the one in Bitcoin will be more than the one in the bank and if actually one is saving them they both can bring return but not in same percentage. And one of the reason why I prefer keeping or investing in Bitcoin is that I can't easily take or withdraw unlike bank where I can easily withdraw and used it up .

If you don't keep some money in the bank then where are you going to keep it?

Sure maybe you deal with cash, but you might have bills and then you might have to keep some cash reserves, emergency funds and float, where you going to keep that money?  all in physical cash?   I am not agains physical cash if that is how you deal with matters, but it seems that if you are able to have bank accounts then you would be using banks as a way to keep money, even if it might not earn you anything.  Sure some banks pay interest, but some also charge fees too depending on what you are doing in relation with your account.

I suppose that I was mostly responding to the earlier comment that was suggesting to keep money in bitcoin but to not keep any money in banks, which seems a bit impractical, even though I know that some folks are unbanked and they also have difficulties getting bank accounts, so if you are not able to get a bank account anyhow, then maybe you don't have any issues, even though bank accounts can have various useful purposes... including sometimes building credit in traditional financial systems and appearing to be a regular person without raising a lot of red flags...sometimes bank accounts can help to lessen the raising of red flags if you have them and you use them for some of your cashflow management matters whether income related or expense related.

The more bitcoin you collect the more profit, because you can store it for a long time and this will be the DCA method. But currently if someone invested in October and his investment increased by 2 to 3 times in November then surely most success is possible with proven bitcoin long term holding.
  Note that the bull market is not over yet, so even with bullish prices, if you hold Bitcoin with the DCA method, you will save on the purchase price. That's why DCA method is the best and has the most role in Bitcoin investment, so you accumulate Bitcoins little by little in which you can accumulate the maximum . And stay away from bank deposit, deposit bitcoin money.
Of course, DCA method is one of the ways of accumulating on a regular basis, yet I see no problem keeping some money in banks or however, you might be holding your fiat too, but yeah, with the passage of time, if you keep building your bitcoin holdings, then it will presumptively get larger and larger quantity of BTC contained therein, and if the BTC price goes up then overall, you would have good chance to have better returns with your BTC money as compared to having had kept such money in the bank. 

You do likely have to secure your BTC in private ways, especially as they get to become larger amounts, so you have less possible issues with third party custodians.  You also likely have to realize that there is no guarantee that your BTC will outperform your cash or other places you could have had invested your money, so you should be figuring out an allocation size into bitcoin that is comfortable for your balancing of your cash versus your investment into bitcoin versus your investment into anything else if you have other investments.
You are right JJG, some folks do think that as they are hodling in bitcoin that there is need for them to also accumulate cash and save it in the bank because they feel that if they don't accumulate Fiat, an emergency need might come up in the future where they will be left with the option of selling part of their bitcoin, so in order not to encounter such circumstances at a point while they're accumulating bitcoin, makes them think that if they have some cash in the bank it will enable them to use the money to sort out any emergency that would have led them to selling part of their bitcoin.
      It is a wrong investment practice to be accumulating bitcoin and also accumulating Fiats as savings. Apart from keeping emergency funds that will take care of any emergency need that may arose in the future, i see no reason why a bitcoin investor will come up with the idea of accumulating bitcoin and also at same time accumulating Fiats because bitcoin gives more privacy and complete ownership over your money and has the tendency to grow with time unlike Fiats that are in the custody of a third party (banks), of which instead of your money experiencing growth, it will rather reduce as a result of some charges being deducted by the bank for either account maintenance or other needless charges in form of service fees.
       Even if there is no guarantee that bitcoin will outperform cash, but having a self-custody of your money should be taking of high priority especially if you have a huge amount of money. The comfort, privacy, self-custody and the ability to make larger transactions without a limitation is the kind of freedom and privileges that any bitcoin holder enjoys as against a cash holder. There is need for a bitcoin investor to figure out a way of keeping money in Fiats and accumulating bitcoin such that his investment amount in bitcoin should not be equal with the amount he has kept in Fiats, the amount stored in bitcoins should be way higher than the amount kept in cash for emergency needs.

Your vision of the use of the bank and how much cash to have seems to differ from mine, and surely there are likely going to be a variety of ways to keep money, and if you ONLY have money in bitcoin and merely your emergency fund as physical cash, then you may well end up not having as many options as you might have if you have money in a variety of ways, and sure when we are in our earliest stages of building our bitcoin holdings we might not even have very much cash, yet I think that the more and more bitcoin that we have, then the more and more likely that we  are going to want to keep cash in a variety of ways in order that we have a variety of ways to take care of our expenses and so we are not forced to ONLY have our bitcoin to rely upon.

Another thing there is likely some value to be working within various traditional financial systems, even if there is only keeping the appearance of working within such systems, so I would think that the richer we become, even if only on paper with our bitcoin, then we likely need to have systems in place so that we are not raising red flags when we are starting to spend our bitcoin.  Sure it could be possible that we are going to be able to find places to spend our bitcoin in peer to peer ways or maybe we think that when it comes time to spend our bitcoin, we will figure that out later, like 15 years or more down the road.  Sure there maybe some truth with that, yet I think that there may be some practicality that sometimes will come with having various options whether they are fiat based options or bitcoin based options, and maybe it is a bit difficult to talk about these various options, since the options of guys is going to vary quite a bit, and surely there are going to be some guys who are wanting stay separate from fiats systems, which could have its own trade offs... and maybe if anything my main point might be that there is utility with having various systems even if NOT all of the capital is working capital, and sure the bitcoin investment is meant to be working capital that might take way more than 10 years before it is even touched beyond building it and maybe if it is spent it is spent and replaced.
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