Topic: Buy the DIP, and HODL! - page 42. (Read 129067 times)

From my perspective, it is not fair to characterize investing as if it were easy, since if investing were so easy, then why don't we have more investors?  An overwhelming majority of normal people do not invest, and they barely live paycheck to paycheck and perhaps at most they have enough savings to be able to live one or two months if their income were to dry up.. ..

So, surely I am not going to presume investing to be easy, even though there are some straightforward and basic strategies involving investing (and saving) that surely should be in the grasp of an overwhelming majority of people, so there is some elements of investing (and savings) that are within the grasp of almost anyone to be able to learn and put into practice, yet still many folks do not put such sound practices into place.

Many folks consider others to be rich if they merely have 3-6 months worth of expenses in their savings (and/or investments).

So, one way of measuring how good of a saver (investor) we are is to figure out how long we would be able to live off of our savings (investments), and the longer that we are able to live off of our savings/investment, the more successful that we likely are... and surely if we are able to get our savings/investments to such a high level that we are able to perpetually live off of them, then we should consider that to be financially successful too, even though there are not very many people who actually end up meeting that status, even if they might spend 30-40 years or more working to get to such a status.

But, yeah, the skills needed to reach such status are within the grasp of any one of us, even though it surely can take quite a bit of persistence and focus to reach such status, including abilities to protect any savings that we have (which likely means investing it into assets/currencies that are going to largely hold and/or appreciate in value at least as high as the debasement of the currency).


There is a certain level of payment that comes to those who both planned and ended up acting upon their plans, versus those who sat on their hands, even if they planned and their plans did not end up with execution rather than just waiting.  We see that waiting has not tended to be a good plan, even though people continue to talk about it (and promote it) as if it were some kind of a meaningful plan.

So, yeah, for anyone who had either not acted or their plan overly involved waiting rather than acting, maybe they will learn a lesson and start to act rather than wait?  That would be the smart thing to do, but I am pretty sure that there are many folks who still have not figured out that waiting is not a great plan, and they will see these latest moves UPpity in the bitcoin price as a justification to wait rather than to act... hahahahahahaha.. and they can have fun staying poor, if they cannot figure out that the better of plans in bitcoin is to get started and to act, which largely means, buying consistently, persistently and ongoingly until you have enough or more than enough bitcoin, which could take many many years, at best to carry out the reaching of enough or more than enough BTC.

Buddy though we all say is not easy to hodl for a long-term yea but that's mainly because people fail to plan, Bitcoin investment and holding is also easy but that depends on individual, as an investor that understands that Bitcoin investment is a long-term stuff there should be back up funds and discretionary income too, these are plans that will make you as investor to keep buying and forgetting for a long-term, problems must occur that's why an investor should be prepared for it, after all DCA method has made it easy for people to keep buying with what they can afford, sustain continuously and keep hodling for a long-term.
As a good strategist when embracing or embarking on investment, there are things you must consider, first and foremost you must be prepared to face any abstacle along the line hence you understand the investment itself, anyone that considers tampering his portfolio or investment at any point should be seen as a short-term investor or someone that fail to do the needful by preparing for what he sees as a problem.

No matter the financial mess you are into, I don't think withdrawing your asset is the best option, Bitcoin has a maturity stage which also depends on whether the investor has accumulated Bitcoin to the level of his satisfaction, the number of years should be from the minimum of 10 years upwards so an individual using problems as excuse to withdraw was never prepared or never planned to hodl for a long-term,  as bitcoiners we should have fund set aside for daily needs an other unexpected problems which is likely to occurs in other to avoid tampering our investment which is not suppose to be an option in the first place

Couldn’t have said it better, congrats everyone, onwards and upwards!!!

For all the coulda, shoulda, woulda it’s still not too late 

This could end up in a massive philosophical discussion... I understand what you are saying, yet I wouldn't go that far and give them the point to call Bitcoin a "Ponzi". It would totally abandon the concept of tangible and intangible value. You could call real estate a Ponzi, you could literally call anything in a Ponzi. Some treat it as a Ponzi indeed, but they benefit from the fact that the majority does not consider Bitcoin a Ponzi. Bitcoin does produce value as much as options produce value. The fact alone that Bitcoin is an option on my things gives it value without actually instantly putting cash into our pockets. It puts pressure on payment service providers, it allows people to transfer value from legacy systems into a decentralized network that allows them to take full self-custody, it allows them to transfer value across boarders which otherwise may not have been authorized by authorities or banks, many other features that translate into value. A Ponzi scheme is not about creating new value, it is about juggling around the same value such that people get the impression there is more value created. That's why I am not quite on the same page with you because why would I accept a definition proclaimed by someone who has no idea about the matter?

"a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

This, to 0%, applies to Bitcoin. 0%. In contrast, it does very well apply to many of the shitcoins because in fact many of the shitcoins from 2015,2016,2017, 2018 gathered tens of millions, but there has never been a real enterprise as was promised. That's much closer to a Ponzi.

Bitcoin is a real thing and there is a reason why there are wallets that go untouched for over a decade. If it was a Ponzi, then it would be a pretty good Ponzi given its lifetime and constant expansion and the fact that no authority in the world was able to stop it. Tell me what Ponzi could not be stopped by authorities. 

Investing is very easy.
Investors only need to buy and hold.
We cannot measure an investor's finances but we can measure how confident he is in investing in Bitcoin.
If he is confident he will not delay the investment he makes. For that, every investor only needs to believe in himself that he has decided to invest in bitcoin.

If you say bitcoin is a hot topic, of course as far as I know every day bitcoin is a hot topic. We continue to talk about bitcoin, and find ways for our investments to run smoothly with various strategies.

Investing is the same as saving, investors need to save expenses in order to be able to follow up on investments either by DCA or with a more aggressive strategy.

I think currently investors tend to invest with all the money they have. my observation that they are long-term holders and do not care whether they buy at a cheap or expensive price but they will make btc for long-term investment..

Meanwhile, bitcoin is the best investment right now, I also regret not investing properly since 2017 but yes that is an experience and I will focus on holding it even though bitcoin reaches its highest price.

Rushing or not rushing to invest in bitcoin is just based on the financial capacity of the investor, if they have discretionary amount to invest with then why not rush and start. Bitcoin is the talk of the world currently so it will really be cowardice for people not to make haste and invest so far as it won't affect their basic obligations of life. Someone who is still struggling to meet up daily needs should rather get a job before starting to invest in bitcoin because someone with no job and chooses to invest may end up selling so soon since they don't have other means that provides income for them. Bitcoin is a high valued asset so it wouldn't be bad if people rush to own investments in it, but the most important thing is that anyone who wants to invest should be able to have a reliable source of income that they can use to DCA till they have grown a huge investment in bitcoin.

Some corrections are expected with this speed of moving up.
But even with that, let's just appreciate that the conclusion of election did really helped a lot to make it this far. Now, BTC is back on its own.

Yes this is a new all time high records for bitcoin history and all these happened just within few hours. This goes a long way to show that anything can happen at anytime. I believe investors who bought yesterday just as you have talked about the buy strategy would be on profit by now irrespective of how much they have bought or invested in bitcoin. No time is too late for investing in bitcoin because bitcoin has a bright future for the world and I believe with time the world would realize this and begin to act accordingly to see the benefits that comes with bitcoin adoption. 

Never delay or procrastinate your investment in bitcoin for reasons of price difference or time. You can start with the least accumulation you can and gradually you could arrive or achieve your bitcoin holding target.

I did not set too high an expectations for now because the market does not always go as predicted. Instead, I focus my energy more on building my portfolio and preparing for all possible scenarios. First is a case where the market drop sharply after the elections, in this case I buy more at discounted prices and hold for several years and still continue to perform my regular DCA. The other case being when the market surges like it did, then I continue my DCA without much of a lump sum buy as that will happen when there is correction in the market. I have always proposed keeping an open mind because Bitcoin ought to give peace of mind and not stress and surprises.

Now that the elections are over, those who kept the faith is Bitcoin will likely be rewarded while those who were sceptical will be struggling to jump in now. Whichever case, all are welcome to join the latest big thing in the financial world.

The impact of the US presidential election is clearly visible in the Bitcoin market. Donald Trump's victory has had a positive impact on the Bitcoin market. As a result of Trump's victory we are seeing the Bitcoin market bullish and it has crossed the previous ATH and made a new ATH. But we Bitcoiners expect more than $75k. Bitcoin's current ATH is over $75k. But our expectations are much higher, we expect more than $80k from Bitcoin this year. Bitcoin's future may not depend on one person, but Trump's positive ad about Bitcoin could see Bitcoin price slightly bullish.

Of course there are some investors in bitcoin whose primary purpose is not the profit. Rather for prestige and influence. There are people who derives joy in owning some of the limited stuffs that are found in this world. Like the Mona Lisa painting. Someone invested in it and bought it with big amount of money. Not for profit making but just for prestige. Likewise it is with bitcoin, there are investors who are in bitcoin not primarily because of the profit, but for them to be counted among the holders or top holders of bitcoin in the world. There are also people who are holding bitcoin, because they don't want to miss out on the innovation. They want to follow the trend and be part of the process that's revolutionising the financial industry. People like that profitability is not their primary concern.

Cold to see how far we've gone, moving close to what we all hoped for with Bitcoin reaching a new ATH of $75k. Those who were anxious to know if Trump emerging as the winner of the just done election will have an impact, i think now we have a more accurate answer to that, i might not be all about the whole election banter but even with the result i still don't expect the price to keep on going onwards from here, i see some piece of break to happen before we can head further to some newer ATH before the year runs out.

I believe we all have been expecting this part of the market, hitting a new ATH isn't a surprise only for the way it happened following Trump's victory. Our expectations for our ATH of this year isn't limited by the current, we expect something beyond the $70k mark, Bitcoin above $80k looks achievable, so as we also should have in mind to keep our investment running, our utmost ATH is still expected.

Bitcoin has created yet a new ATH today from the previous price of $73k to current price of $75,358.70, this is a good sign to encourage investors to buy more and HODl and never to procrastinate. Never forget to buy now, since it's an opportunity that many never come again in the nearest future.

Don't forget to buy bitcoin with the following strategy

#Buy bitcoin through lump sum strategy
#Buy bitcoin through the dip strategy
#Buy bitcoin through DCA strategy

All works best for for a good accumulation process.

Investing and at some point selling your bitcoin investment due to some financial challenges is lack of having several back up funds like an emergency funds of 3-6 months of your monthly income and a reserve funds to backup your emergency funds. All these funds are very important to have as an investor because you don't know the unforeseen challenges that will arise during your investment journey. Back up funds is a necessity for any investor to have in order for him to be able to be successful in his bitcoin investment, otherwise, you will be gambling rather than investing. This is the reason you should use only your discretionary income to invest in bitcoin and build your back up funds for the rainy days.

Anyone can invest in bitcoin as long as he has a discretionary income and he is using part of his discretionary income to invest that he will not be needing for a long time, be it low salary earner or not. If a low salary earner does not have a discretionary income, there is no way that he will survive in his bitcoin investment because he must sell it when he needs funds for his needs.

Anyone is such situation don't have a source of income and funny enough I will advice anyone without a source of income never to invest but whereby the person receives monthly or weekly salary it's allowed reasons being known the person can always backup their investment in any situation. Low salary earners still accumulate Bitcoin but there's a way they plan towards holding they never get affected during the long run. I think learning about management is more important whereby the salary can be divided for needs and other plan also after all the left over  can be use to accumulate. Accumulating with little amount always is not even the problem probably afterwards the person can look for a suitable job, there's no perfect time meant for an investor  so long as they're doing well.

I want you to know that bitcoin investment is not the same thing as selling commodities. If people who are having trouble managing what they spend every day invest in bitcoin, they will all fail in their bitcoin investment because they don't have discretionary funds, which will allow them to freely invest in bitcoin and hold it for a long time. Bitcoin investment is not a quick-to-get-rich scheme, and you need to use the money that you will not need for 4-10 years or more to invest in bitcoin so that you will not sell off your bitcoin to survive if you see little profit from it. If you want to invest in bitcoin, you should do it in a way that you will not find it difficult to sort out your daily expenses or deprive yourself of some basic needs to invest in bitcoin, which might get you off the game, partially or permanently. I am surprised someone of your rank is saying this about bitcoin investment. Please don't repeat this anywhere again before you deceive newbies into believing that they can start up a bitcoin investment even when they are struggling to sort out their daily expenses.

Those who have literally did the title, you we're all legends. 
And, that was epic. 

That is why I like to advise investing even very small amounts, but nevertheless, so that the fact of investment exists. This allows such an investor to feel involved in the process of improving his situation. It also disciplines him. And this is important, because then he always thinks about it and in his life he begins to think a little differently.
And I am sure that each such investor will eventually find money, and at that moment he will be ready to be a truly serious investor in Bitcoin.

When someone fails to learn from their errors and take corrections, they'll keep repeating the same errors over and over again and that's why he keeps relating Bitcoin to ponzi, there's no way he can try to sugar coat his words to favour him cause relating Bitcoin to ponzi alone is a very big error and shows that he's not willing to learn from something he's been corrected severally on. In this space, learning is a constant process it doesn't matter the rank of someone and when you're wrong, you're wrong. However, the best thing to do is admit you're wrong and take the necessary corrections instead of trying to prove a point that's unnecessary, it's as simple as that cause there's nothing he'll say to would justify his words that Bitcoin has a ponzi like criteria or process. The word ponzi alone is related with scam activities that blindfolds victims from seeing the possible scam in future whereas Bitcoin investment has nothing relating with scam, so far investors follow the due process their expectations would definitely be met, which is profits in future. The only way people get scammed through Bitcoin is when they fail to secure their portfolio or indulge in scam investments out of ignorance or greed.

What good does your apology mean when you still repeat the same statement that prompted the controversy in the first place? seems you are very much incorrigible, and hell-bent on associating bitcoin to Ponzi. No matter the image you are trying to project here, you have declared your intention as null and void with those connecting words and surely no bitcoin lover would even want to reason with you.

You are bringing in logics to clarify the propagation of bitcoin and you are employing a rather contradicting logic and terms to support your point, I wonder if you are so narrow minded that you don't tend to ever see things from others point of view and one thing you should know on a personal note is that when you are saying something and everybody is against you without even a supporter, then you are possibly wrong and should review your comments with optimism, because everybody cannot be wrong and only you is right.

for some personal idiosyncrasies, you are stubborn and raising a negative energy against the topic you created yourself and I am beginning to believe Samlucky O that you are an unserious person and unsteady with your stand on things. Well for your integrity sake and for the sake of misguiding newer people in the forum and this thread, keep your Ponzi mindset to yourself, understand it alone and quit repeating that bolded text anywhere in the thread.

 Yes, but the length of time you wish to hold it can be affected by your age. When you are young and have enough time to explore and take risks, you can keep investing and holding bitcoin for a relatively longer period of time(10-20 years or even more) because you are more open to risk taking and believe in the potential of bitcoin to secure your near future and might not be needing money for very serious needs anytime soon, but this might not be the same view with older people as most of them invest in bitcoin for retirement purposes and at retirement, they tend to pursue stability of their income rather than the volatility that bitcoin presents.

Another thing is that most older folks prefers investing their funds into an income generating scheme and bitcoin does not offer periodic or constant dividends like stocks, bonds, agriculture e.t.c that gives them regular funds to maintain their lifestyle since they are weaker to keep hustling very hard to fend for themselves and keep their accumulation process going, build their emergency funds and make available more money for handling their needs, so they rely on their savings for their upkeep and they might need to sell their holdings sooner to continue taking care of themselves at the long run.

People who get into bitcoin at a younger age has relatively more ability to go for a relatively longer term than those who got into it an old age, you age can influence your choice and convictions. There are many concerns that comes with old age like health concerns, upkeep concerns, and other concerns and not having a regular source of income like the active days can force the older investor to sell his holdings and convert it into his savings to maintain his lifestyle.

A new investor is prone to facing the realities of investing in bitcoin and the temptations that comes with having funds somewhere and restraining yourself from touching it for a long term and all. At those time, it is possible for him to fail and sabotage his investments sometimes in order to survive, especially if he is very aggressive with his investment. Sometimes, they might hit an emergency that overhauls their emergency funds and they fall back to their holdings, such scenarios are expected since he's new to the system.  It might take some time for him to reach the maturity of consistency and commitment to his investment, but it is very important not to give up until you reach such maturity of stabilizing your cashflow and not having to prey on your holdings.